Dinamika Ekonomi Berkelanjutan dalam Era Perubahan Iklim: Tinjauan Pustaka Komprehensif tentang Green Economy, Transisi Energi, dan Implikasinya terhadap Kebijakan Fiskal, Investasi, serta Kesejahteraan Sosial Global

Yani Dwi Restanti; Tati Haryati; A. Faiz Fadl.lulloh

doi:10.30640/jmcbus.v4i4.7989

Authors

Yani Dwi Restanti Universitas Pawyatan Daha
Tati Haryati Universitas Amal Ilmiah Yapis Wamena
A. Faiz Fadl.lulloh Universitas Pawyatan Daha

DOI:

https://doi.org/10.30640/jmcbus.v4i4.7989

Keywords:

Green Economy, Climate Change, Energy Transition, Fiscal Policy, Social Welfare

Abstract

Climate change has evolved into a structural challenge that affects global economic transformation, making the transition toward a green economy dependent on the integration of decarbonization, energy transition, fiscal policy, green investment, and social welfare. This study aims to comprehensively analyze these multidimensional interrelationships and to develop an integrated conceptual framework that explains the mechanisms linking technological and structural transformation, fiscal and incentive policies, investment and financing, and welfare distribution. The study employs a Systematic Literature Review (SLR) using a narrative-integrative synthesis approach and the PRISMA 2020 guidelines. Literature was collected from Scopus, Web of Science, and Google Scholar, as well as reports published by the IEA, OECD, World Bank, ILO, and UNU-WIDER during the period 2015–2026, with particular emphasis on publications from 2021–2026. The synthesis reveals that the success of the energy transition is influenced by policy support, fiscal certainty, financing availability, technological innovation, and institutional quality. The effectiveness of climate fiscal policies depends on a balanced combination of revenue and expenditure instruments, as well as revenue recycling mechanisms to minimize distributive impacts. Green investment has grown substantially, yet its distribution remains concentrated in developed countries. Furthermore, a successful transition is determined not only by decarbonization achievements and economic efficiency but also by social protection, decent job creation, and skills development. The analysis indicates reciprocal relationships among energy transition, fiscal policy, green investment, and social welfare, although only limited studies have simultaneously modeled these interactions. This study proposes an integrative framework that connects economic efficiency with social justice perspectives to support inclusive, resilient, and sustainable low-carbon development.

References

Aggarwal, R., Ayhan, S. H., Jakob, M., & Steckel, J. C. (2025). Carbon pricing and household welfare: evidence from Uganda. Environment and Development Economics, 30(1), 1-25. https://doi.org/10.1017/S1355770X24000214

Avgousti, A., Caprioli, F., Caracciolo, G., Cochard, M., Dallari, P., Delgado-Téllez, M., Domingues, J., Ferdinandusse, M., Filip, D., Nerlich, C., Prammer, D., Schmidt, K., & Theofilakou, A. (2023). The climate change challenge and fiscal instruments and policies in the EU (Occasional Paper Series No. 315). European Central Bank. https://www.ecb.europa.eu/pub/pdf/scpops/ecb.op315~c279c7c290.en.pdf

Booth, A., Sutton, A., & Papaioannou, D. (2016). Systematic approaches to a successful literature review (2nd ed.). London: SAGE Publications.

Büchs, M. (2026). Perspectives on social and justice issues in climate policy: Comparing the just transitions, sustainable welfare and eco-social policy literatures. WIREs Climate Change. https://doi.org/10.1002/wcc.70041

Connolly, K., & Novenario, C. (2025, October 8). 5 key levers countries can use to advance a just transition. World Resources Institute. https://www.wri.org/technical-perspectives/levers-advance-just-transition-policies

Creti, A., & Ftiti, Z. (2024). Energy, just transition, and sustainability: What's new?. Energy Economics, 139, 107872. https://doi.org/10.1016/j.eneco.2024.107897

Daly, H. E. (1990). Toward some operational principles of sustainable development. Ecological Economics, 2(1), 1–6. https://doi.org/10.1016/0921-8009(90)90010-R

Dixit, A. K., & Pindyck, R. S. (1994). Investment under uncertainty. Princeton University Press.

Dorband, I. I., Jakob, M., Kalkuhl, M., & Steckel, J. C. (2019). Poverty and distributional effects of carbon pricing in low- and middle-income countries: A global comparative analysis. World Development, 115, 246–257. https://doi.org/10.1016/j.worlddev.2018.11.015

Geels, F. W. (2002). Technological transitions as evolutionary reconfiguration processes: A multi-level perspective and a case-study. Research Policy, 31(8–9), 1257–1274. https://doi.org/10.1016/S0048-7333(02)00062-8

Geels, F. W. (2011). The multi-level perspective on sustainability transitions: Responses to seven criticisms. Environmental Innovation and Societal Transitions, 1(1), 24–40. https://doi.org/10.1016/j.eist.2011.02.002

Goulder, L. H. (1995). Environmental taxation and the double dividend: A reader's guide. International Tax and Public Finance, 2(2), 157–183. https://doi.org/10.1007/BF00877495

Grossman, G. M., & Krueger, A. B. (1995). Economic growth and the environment. The Quarterly Journal of Economics, 110(2), 353–377. https://doi.org/10.2307/2118443

Hekkert, M. P., Suurs, R. A. A., Negro, S. O., Kuhlmann, S., & Smits, R. E. H. M. (2007). Functions of innovation systems: A new approach for analysing technological change. Technological Forecasting and Social Change, 74(4), 413–432. https://doi.org/10.1016/j.techfore.2006.03.002

International Labour Organization. (2015). Guidelines for a just transition towards environmentally sustainable economies and societies for all. ILO Publications.

Muhire, F., Turyareeba, D., Adaramola, M. S., Nantongo, M., Atukunda, R., & Olyanga, A. M. (2024). Drivers of green energy transition: A review. Sustainable Futures, 8, 100302. https://doi.org/10.1016/j.sftr.2024.100302

North, D. C. (1990). Institutions, institutional change and economic performance. Cambridge University Press.

Organisation for Economic Co-operation and Development & United Nations Development Programme. (2025). Ensuring a just and equitable transition: Investing in climate for growth and development. OECD Publishing. https://www.oecd.org/en/publications/investing-in-climate-for-growth-and-development_16b7cbc7-en.html

Organisation for Economic Co-operation and Development. (2011). Towards green growth. OECD Publishing. https://doi.org/10.1787/9789264111318-en

Page, M. J., McKenzie, J. E., Bossuyt, P. M., Boutron, I., Hoffmann, T. C., Mulrow, C. D., Shamseer, L., Tetzlaff, J. M., Akl, E. A., Brennan, S. E., Chou, R., Glanville, J., Grimshaw, J. M., Hróbjartsson, A., Lalu, M. M., Li, T., Loder, E. W., Mayo-Wilson, E., McDonald, S., McGuinness, L. A., Stewart, L. A., Thomas, J., Tricco, A. C., Welch, V. A., Whiting, P., & Moher, D. (2021). The PRISMA 2020 statement: An updated guideline for reporting systematic reviews. BMJ, 372, Article n71. https://doi.org/10.1136/bmj.n71

Pearce, D. (1991). The role of carbon taxes in adjusting to global warming. The Economic Journal, 101(407), 938–948. https://doi.org/10.2307/2233865

Pigou, A. C. (1920). The economics of welfare. London: Macmillan.

Porter, M. E., & van der Linde, C. (1995). Toward a new conception of the environment-competitiveness relationship. Journal of Economic Perspectives, 9(4), 97–118. https://doi.org/10.1257/jep.9.4.97

Renner, S., Lay, J., & Greve, H. (2025). The poverty and distributional impacts of carbon pricing on households: Evidence from Ghana, Nigeria and Uganda. Environment and Development Economics. Advance online publication. https://doi.org/10.1017/S1355770X25100120

Sen, A. (1999). Development as freedom. New York: Alfred A. Knopf.

Shayegh, S., Reissl, S., Roshan, E., & Calcaterra, M. (2023). An assessment of different transition pathways to a green global economy. Communications Earth & Environment, 4(1), 448. https://doi.org/10.1038/s43247-023-01109-5

Snyder, H. (2019). Literature review as a research methodology: An overview and guidelines. Journal of Business Research, 104, 333–339. https://doi.org/10.1016/j.jbusres.2019.07.039

Solow, R. M. (1974). The economics of resources or the resources of economics. The American Economic Review, 64(2), 1–14.

Tobin, J. (1969). A general equilibrium approach to monetary theory. Journal of Money, Credit and Banking, 1(1), 15–29. https://doi.org/10.2307/1991374

Tranfield, D., Denyer, D., & Smart, P. (2003). Towards a methodology for developing evidence-informed management knowledge by means of systematic review. British Journal of Management, 14(3), 207–222. https://doi.org/10.1111/1467-8551.00375

Unruh, G. C. (2000). Understanding carbon lock-in. Energy Policy, 28(12), 817–830. https://doi.org/10.1016/S0301-4215(00)00070-7

Vandyck, T., & Fahle, F. (2021). Distributional impacts of carbon pricing in developing Asia. Nature Sustainability, 5(3), 231–239. https://doi.org/10.1038/s41893-021-00758-8

World Bank. (2021). Fiscal policies for a sustainable recovery and a green transformation (Policy Research Working Paper No. 9799). World Bank Group. https://documents1.worldbank.org/curated/en/499301633704126369/pdf/Fiscal-Policies-for-a-Sustainable-Recovery-and-a-Green-Transformation.pdf

Yang, J., Li, R., & Solangi, Y. A. (2024). Assessing and prioritizing drivers and strategies for transition to a green energy for sustainable development in China. Heliyon, 10(4), e25685. https://doi.org/10.1016/j.heliyon.2024.e25685