The Impact of Green Investment Practices on Economic Growth Strategies in the Libyan Companies

Alsaeh Alsagheer, Çağın Erbek Alaybeyoğlu

Halic University, Turkey

The current study focuses on the significance of green investments as a part of Libya's economic growth strategies during the period 2008 to 2023 and relies on secondary data acquired from trustful institutional sources, such as the World Bank, African Development Bank (AfDB), International Renewable Energy Agency (IRENA), and United Nations Development Program (UNDP). The researcher employed a quantitative descriptive method for the analysis, with the goal to unveil the interconnections of the factors: renewable energy investment, energy efficiency, CO₂ emissions, and environmental expenditure, with GDP growth, diversification, and productivity. The results reveal that both renewable energy investment and energy efficiency are economically rewarded while the increase of carbon emissions is punished. Furthermore, the results point out that in order to achieve the diversity, long-term robustness, and synchronization with the world's sustainability objectives, the green investment should be deeply rooted in the national economic agenda of Libya. The policy implications reveal that institutional reforms, the creation of green financing mechanisms, and the establishment of strong regulatory framework are prerequisites to the success of Libya's transition towards a low-carbon innovation-driven growth model.

Article link: https://www.asianinstituteofresearch.org/JEBarchives/the-impact-of-green-investment-practices-on-economic-growth-strategies-in-the-libyan-companies