Role of Financial Strategies in Promoting Germany’s Environmental Sustainability: A Comprehensive Systematic Review and Meta-Analysis
DOI:
https://doi.org/10.31150/ajebm.v8i8.3936Keywords:
Financial strategies, Environmental sustainability, Financial policies, Renewable energy, GermanyAbstract
Germany's commitment to environmental sustainability has been supported by diverse financial initiatives aimed at fostering ecological resilience. This study conducted a comprehensive systematic review and meta-analysis to examine how various financial instruments influence Germany's progress toward environmental goals. Adhering to PRISMA guidelines, relevant literature was sourced from databases such as Web of Science, Scopus, and PubMed, along with governmental and policy reports published between 2010 and 2025. Effect sizes reflecting the impact of financial policies on environmental indicators were extracted and analyzed through a random-effects model to accommodate study heterogeneity. The analysis encompassed 12 studies, revealing an overall small positive effect size of approximately 0.024 (SE=0.028). The findings demonstrated that certain financial policies, including environmental taxes, may have limited effectiveness in driving green outcomes. Additionally, economic growth initially appears to exacerbate environmental pressures before improvements are observed. To advance environmental sustainability, policymakers in Germany should focus on expanding renewable energy investments and adopting integrated financial strategies involving multiple stakeholders. The findings revealed the necessity of a multi-dimensional approach to effectively tackle environmental challenges within the framework of sustainable development.
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Copyright (c) 2025 Ohood Hammood Salih, Ahmed Abdullah Salman, Noor Abdul-Sattar Ibrahim
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