Literature review on sustainable development in bali province through the lens of financial aspects
Faculty of Economics and Business, Udayana University, Bali, Indonesia
Review Article
World Journal of Advanced Research and Reviews, 2024, 24(01), 1456–1460
Article DOI: 10.30574/wjarr.2024.24.1.3177
Publication history:
Received on 07 September 2024; revised on 15 October 2024; accepted on 17 October 2024
Abstract:
This literature review discusses the relationship between regional financial performance, capital expenditure, and environmental expenditure and their role in sustainable development. Sustainable development is defined as development that is able to meet current needs without sacrificing the ability of future generations to meet their needs. Previous studies have shown that the allocation of regional spending, especially environmental spending, is still low despite having an important contribution to preserving ecosystems and reducing the impact of climate change. This review emphasizes that regional financial performance plays a significant role in determining capital expenditure and environmental allocation. Unbalanced spending policies can hinder the achievement of sustainable development. In addition, effective allocation of environmental spending is key to supporting various climate change mitigation programs and maintaining environmental quality in the future. The results of this study conclude that improving financial performance needs to be accompanied by appropriate budget policies, especially in capital expenditure and the environment. Efforts to ensure sustainable development require synergy between economic growth and environmental concern so that long-term development goals are achieved.
Keywords:
Financial performance; Capital expenditure; Environmental spending; Sustainable development; Climate change mitigation; SDGs.
Full text article in PDF:
Copyright information:
Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0