Green and Renewable Energy Impact on Sustainable Indices: Empirical Study on Selected Indian Stocks

Renewable natural resources based on power and energy, such as solar, wind, and hydropower energy, play a vital role in mitigating the impact of environmental degradation and climate change. This paper examines the effect of BSE Greenex, BSE Carbonex, and BSE 100 ESG on selected green energy stocks. This study comprises the time series data from Dec, 2020 to Sept 2024 by using multiple regression and event window of volatility analysis. Result shows there is a significant impact observed with stocks like NTPC, ADNA, and BFUT. However, the impact is not very high with KPEN and WAAS. These results raise awareness of renewable energy as a key factor improving financial performance, energy security, and sustainable development. Furthermore, the paper underlines the need to mobilise more capital for innovation in green technology, supportive policies as well as advancements in energy storage as well as distribution networks to increase the adoption of renewable energy. This change is indeed going to be strategic in the promotion of sustainable long-term growth economically and in the fight against the world's environmental crises.