Economic development and environmental sustainability-the case of foreign direct investment effect on environmental pollution in China

Assessing the impact of financing decisions and ownership structure on green accounting disclosure: Evidence from developing economies

This study examines the impact of financing decisions and ownership structure on green accounting disclosure (GAD) in developing economies, where sustainability practices have not been extensively integrated into business models. We conducted empirical analysis considering 172 manufacturing companies from 2001 to 2022, utilizing both fixed effect and random effect estimation techniques. The findings revealed that firms that rely primarily on debt financing tend to have an inverse relationship with the levels of green accounting disclosure. However, firms that depend mainly on equity financing tend to have higher levels of green accounting disclosure. In addition, the results of the estimation analysis showed a favorable association between ownership concentration and disclosure of green accounting practices. The findings suggest that policymakers should consider incentivizing firms to prioritize equity financing over debt financing to promote higher levels of green accounting disclosure. Additionally, policies should aim at encouraging ownership concentration within firms to enhance the transparency and accountability of environmental reporting practices, ultimately advancing the achievement of Sustainable Development Goals 12 and 13.

Interpretation of the coupling mechanism of ecological security and urbanization based on a Computation-Verification-Coupling framework: Quantitative analysis of sustainable development

In recent decades, China's rapid urbanization has produced numerous economic benefits while simultaneously creating substantial risks to ecological security. China's 14th Five-Year Plan and the United Nations Sustainable Development Goals (SDGs) have recently explicitly called for the coordinated development of ecological security and urbanization. Given this context, it is important to explore the mechanism by which ecological security and urbanization are coupled and coordinated to promote sustainable development. In this study, an index of the relationship between ecological security and urbanization was established via high-resolution data, and a "Computation-Verification-Coupling" (CVC) framework was constructed. The accuracy of the ecological security index was verified using a linear regression model, and the coordination level between ecological security and urbanization was analyzed via a coupled coordination model (CCM). The results revealed a steady increase in the ecological security index from 2010 to 2020; the proportion of the area above the medium level increased from 63.1 % to 74.1 %. The urbanization index in core counties exhibited rapid growth, with level V urbanized areas expanding from 5.5 % to 9.9 %. The ecological security verification model produced a coefficient of determination (R²) of 0.75685, indicating a satisfactory degree of predictive capability. From 2010-2020, the coupled coordination improved, with the high coordination area accounting for 48.8 % and the extreme discoordination area decreasing from 1.8 % to 1.0 %. Coordinated development exhibited a stable progression, characterized by a cyclical evolution from initial coupling to antagonistic coupling and finally to coordinated development. This framework can be used not only to investigate the relationship between ecological security and urbanization but also to provide a quantifiable measure of progress toward achieving the SDGs.

A causal link between financialization and ecological status: a novel framework for Asian countries?

Sustainable finance and green trade are essential to accomplish the green growth agenda. Though the literature prevails, little is known about the inclusive influence of financialization and trade openness on ecological status rather than just focusing on air pollution or inconclusive element. This study aims to analyze the role of financial dimensions and trade openness with environmental performance in the context of three panels of Asian countries consisting of low, middle, and high-income over the period 1990-2020. The estimated outcomes from the novel panel, the Granger non-causality technique, demonstrate that financialization further contributes to environmental deterioration instead of preserving the environmental quality. Regarding the low and middle-income economies, the authorities should enhance gains from trade openness to develop energy efficiency and ecological status policies. In the case of high-income Asian countries, they are even more desperate to consume energy and ignore the ecological challenges. The findings of this research offer various policy suggestions to accomplish sustainable development objectives.

A step towards carbon neutrality in E7: The role of environmental taxes, structural change, and green energy

To achieve sustainable production and consumption patterns in the modern world, emerging countries are concentrating more on how economic variables may employ carbon neutrality targets appropriately. Using renewable energy, structural changes initiative, and imposing environmental taxes are all part of the plan to achieve the carbon neutrality goal in terms of reduced carbon emissions (CO₂), haze pollutants, and greenhouse gases (GHG). Environmental taxation, renewable energy, structural changes, trade openness, and foreign direct investment (FDI) are aspects taken into account in this study, along with the long-term viability of the natural ecology in the E7 (China, Turkey, India, Russia, Brazil, Indonesia, and Mexico) economies. The Driscoll Kraay fixed effect OLS technique and the Method-of-Moment quantile (MMQ) regression technique were adopted for the baseline analysis for the data span of 2000 to 2020. From the empirical analysis, it was discovered that environmental Tax, structure change, and renewable energy have a negative connection with carbon emissions for the understudy countries. Moreover, the pollutant haven hypothesis (PHH) was confirmed since the findings discovered a positively significant relation involving FDI and carbon emission. Similarly, trade openness was seen to have a positive connection with carbon emissions. Thus, it is concluded that effective environmental taxation, renewable energy enhancement, and structure changes mitigate pollution while trade openness and FDI inflow enhance carbon emission for the E7 economies. According to the results, rigorous environmental tax rules will enable enterprises to transition manufacturing to green and sustainable alternatives. Finally, the report recommends that transferring tax money to research and development of sustainable technology programmes will enable governments to meet the SDG-7 and SDG-13 objectives of the United Nations.

Development, effective governance and environmental sustainability risk: emerging markets perspective

The study examines the extent to which development and other key factors influence environmental sustainability risk among developing economies in sub-Saharan Africa (SSA). Empirical analyses were carried out using panel corrected standard error (PCSE), an estimation technique by Beck and Katz, Am Polit Sci Rev, 634-647, (1995). The results suggest that development, defined by a more holistic index, has significant positive impact on CO₂ emissions, but negative impact on ecological footprint among economies in the sub-region. The results further show that effective governance, corruption control and regulatory quality tend to minimize adverse impact of development on CO₂ emissions, all other things being equal. Additionally, the study finds that political instability exacerbates the adverse effect of development on CO₂ emissions.

Do natural disasters affect economic growth? The role of human capital, foreign direct investment, and infrastructure dynamics

Natural disasters do occur and have become a global problem due to increasing intensity. Developing countries are mostly affected due to natural disasters owing to a poor environment, feeble adaptation, impoverished socioeconomic conditions, poor infrastructure, limited resources, and unstable institutions. The SDG 11.5 target which highlights the mitigation of loss due to natural disasters--remains crucial to achieving sustainable cities and human settlements--but the literature is limited on this scope. Thus, this research contributes to the literature by incorporating an infrastructure index, foreign direct investment (FDI), human capital index, globalization, and capital formation into the disaster-growth debate across four-income groups in 98 countries from 1995 to 2019. We developed infrastructure and human capital indices using a standard procedure across all income groups. The two-step generalized method of moments employed herein confirmed the income reduction effect of natural disasters. While the economic cost of natural disasters is relatively high in low-income countries and mild in high- and upper-middle-income countries. Besides, infrastructural development, FDI, human capital, globalization, and gross fixed capital formation also affect economic growth across income groups. Thus, the enhancement of socio-economic policies could decline economic losses, especially in vulnerable and poor settlements in developing countries.

Assessing the impact of oil and gas trading, foreign direct investment inflows, and economic growth on carbon emission for OPEC member countries

The exploration of oil and gas contributes to green-house-gas. While exploring countries ensures economic growth, their activities also contribute to environmental pollution through carbon emissions. The 13-member states of the Organization of the Petroleum Exporting Countries (OPEC) are the world's most important oil-producing and exporting countries. Since the safety of a country's oil and gas resources is related to the country's economic growth and environmental protection, this study aims at assessing the impact of oil and gas trading, foreign direct investment inflows, and economic growth on carbon emission for OPEC member countries. Using secondary data from 2000 to 2018, the authors utilized Stata and EViews statistical software for the empirical studies. The fully modified least squares (FMOLS) and the generalized methods of moments estimators were used for the multiple regression. The findings from the multiple regression analysis revealed a positive but statistically insignificant relationship between oil and gas export and carbon emissions. On the contrary, an inverse relationship that is statistically significant was found between foreign direct investment inflows and carbon emissions. Also, a positive and statistically significant relationship was found between economic growth and carbon emissions for OPEC member countries. The research findings contribute to previous literature on petroleum exploration activities and give clues to policy-makers and stakeholders in putting in measures to ensure economic growth while promoting environmental protection for OPEC member countries.

Asymmetric effect of FDI and public expenditure on population health: new evidence from Pakistan based on non-linear ARDL

The core purpose of the study is to examine the asymmetric effect of foreign direct investment (FDI) and population health (measured by life expectancy index). The study takes time series data for 1980-2020. The non-linear autoregressive distributed lag (NARDL) bound testing to cointegration approach is applied to scrutinize an asymmetric association among foreign direct investment, government expenditures, trade openness, public debt, and population health. The study also used an asymmetric causality test to investigate the causal association between the measured variables. The findings affirm that cointegration exists between the variables in the occurrence of asymmetries. The asymmetric causality outcomes confirm that only positive changes in FDI have bidirectional causality to life expectancy while negative shocks have unidirectional that runs from FDI to life expectancy. The government expenditure and foreign direct investment also provided evidence of social sector health welfare in Pakistan. The output shows that increasing government expenditure can cause an increase in life expectancy while decreasing government expenditure can cause a decrease in life expectancy. The study found that investment in health care medical services is paramount to better results as far as government assistance (welfare) gains. The outcomes of the study have given numerous policy suggestions to boost life expectancy in the general public of Pakistan.

Promoting sustainability through green innovation adoption: a case of manufacturing industry

Green innovation is becoming more common among researchers and practitioners around the world due to environmental and social issues. Green innovation minimizes wastes and pollution, and also leads to financial gains and better image if implemented effectively. Nowadays, developing countries pay greater emphasis on environmental issues as their manufacturing industries are considered major contributors to pollution. Considering the case of a developing country (Pakistan), the study empirically identified the drivers of green innovation in the manufacturing industry. A hybrid methodology-Fuzzy Delphi method (FDM), interpretive structural modeling (ISM), and cross-impact matrix multiplication applied to classification (MICMAC)-was used to develop a novel framework for analyzing the green innovation drivers. At first, green innovation drivers were selected from past studies; they were further screened by applying Fuzzy Delphi approach. The MICAMAC and ISM results indicate that "cost reduction" and "government support" are the most important drivers motivating green innovation implementation in the Pakistani manufacturing industry, while a green image appeared as the least significant driver of green innovation adoption. The study's findings have significant implications for managers and policymakers to develop green strategies for manufacturing sector.

Inward foreign direct investment, outward foreign direct investment, and carbon dioxide emission intensity-threshold regression analysis based on interprovincial panel data

Based on the panel data of 30 provinces (except for Tibet, Hong Kong, Macao, and Taiwan) in China from 2005 to 2016, a nonlinear threshold regression model and a carbon emission expansion models were constructed to empirically analyze the threshold effect of inward foreign direct investment (IFDI) and outward foreign direct investment (OFDI) on carbon dioxide emission intensity in China. The results show that (1) China's OFDI has increased carbon dioxide emission intensity while the IFDI has a significant inhibitory effect on carbon dioxide emission intensity. (2) The impact of the OFDI on carbon dioxide emission intensity gets influenced by the threshold effect of population size, economic development level, technology level, and environmental regulation. (3) The impact of the IFDI on carbon dioxide emission intensity also has threshold characteristics affected by population size, economic development level, and technological level. Hence, China should introduce more IFDI, optimize the structure of the OFDI, and exert its environmental improvement effect to satisfy the carbon emission reduction goal earlier.

Spatio-Temporal Differentiation and Driving Mechanism of the "Resource Curse" of the Cultivated Land in Main Agricultural Production Regions: A Case Study of Jianghan Plain, Central China

Cultivated land resources are an important component of natural resources and significant in stabilizing economic and social order and ensuring national food security. Although the research on resource curse has progressed considerably, only a few studies have explored the existence and influencing factors of the resource curse of non-traditional mineral resources. The current study introduced resource curse theory to the cultivated land resources research and directly investigated the county-level relationship between cultivated land resource abundance and economic development. Meanwhile, the spatiotemporal dynamic pattern and driving factors of the cultivated land curse were evaluated on the cultivated land curse coefficient in China’s Jianghan Plain from 2001 to 2017. The results indicated that the curse coefficient of cultivated land resources in Jianghan Plain generally shows a downward trend. That is, the curse phenomenon of the cultivated land resources in large regions did not improve significantly in 2001–2017. The influencing factors of the cultivated land resource curse in different cursed degree areas varied and the spatial interaction of the cursed degree areas differed as well. This study proposed a transmission mechanism of the cultivated land resource curse in Jianghan Plain. Policies from throughout the entire and within the main agricultural producing areas were proposed to adjust the cultivated land resource curse. The results and conclusions of this study will be beneficial in improving future land-use policies in major agricultural areas and reducing lag in economic development caused by the strict protection of cultivated land resources.

Trend and relationship between environmental accounting disclosure and environmental performance for mining companies listed in China

We examined the effect of environmental disclosure on environmental performance for listed mining companies in China. Our analysis used China's Environmental Information Disclosure Degree (EIDD) and the Chinese Securities Regulatory Commission's disclosure guidelines to propose the Environmental Information Disclosure Index. Majority of previous studies on environmental disclosures focused on a particular company or city or province. Few studies considered a whole sector of a country. Among the few studies that considered a whole industry, none of such studies considered the mining industry. In addition, our study employed a recent environmental disclosure index and modified a recent index for environmental performance for the empirical analysis making our study unique. We also employed vigorous reliability and robustness test to ensure that our findings are valid and can be used by policy-makers. Using panel data for thirty-four mining companies from both Shanghai and Shenzhen Stock Exchange for the period 2000-2018, our cointegration estimation analysis concluded that corporate environmental performance and environmental information disclosure has a positive and significant relationship at a 1% level. Trend analysis revealed that mining companies comply with environmental information disclosure in China. This was seen from the great improvement in the environmental disclosure for mining companies between 2008 and 2010 after the enforcement of EIDD. Our results contribute to the previous literature and open the way for further studies on industry level in other countries.

Modeling drivers for successful adoption of green business: an interpretive structural modeling approach

Like most other developing countries, Bangladesh is facing tremendous pressure to mitigate climate change effects and prior environmental degradation, further creating a vulnerable condition in mitigating its environmental, social, and economic circumstances. Green business approaches could be one of the better weapons for these severe conditions as they quantify the incorporation of environmental and social concerns without compromising economic development. They have gained considerable attention from governments, industries, and researchers over the past few years. The main aim of this paper is designed to build up a structured model (interpretive structural modeling) of drivers for adopting green business (GB) in the context of emerging economies. The interpretive structural modeling (ISM) will allow the assessors in the regulatory, market, and other sectors to promote the smooth utilization of green business strategies by defining and recognizing the linkages among the drivers associated with the green business. The driver's intimate relationship enables a hierarchy by compiling their dependence and driving power. For demonstrating the structural modeling for the identified drivers, we used combined "Matriced' Impacts Croisés Multiplication Appliquée á un Classement" (MICMAC) analysis and ISM model for characterizing the drivers as indicated by their driving and dependence power. Throughout, the evaluation of the available literature followed by a discussion with experts (both industrial and academic) was done for the identification of the drivers for green business adoption. A structured model (ISM) and MICMAC (as fuzzy analytical tools) analysis are required to give a boon set of knowledge to the assessors of the legislature and business industry, which further lead them for resource maximization in a sustainable way to embrace green strategies into their core business process.

Environmental Outcomes of Green Entrepreneurship Harmonization

Establishing equilibrium between business growth and environmental sustainability is one of the core focuses of green entrepreneurship. However, the scarcity of resources, ecological concerns, business growth, and survival are among the issues that are recognized by entrepreneurs. In the light of the Natural Resource-Based View (NRBV) and Dynamic Capability View, this study aims to examine the effects of Green Innovation Performance (GIP) on Green Entrepreneurship Orientation (GEO) and Sustainability Environmental Performance (SEP). As advocated by NRBV, this study emphasizes the importance of pursuing the three types of distinct yet interrelated environmental strategies and its association impact on GEO. The results indicated that internal green dynamic capabilities, namely, green absorptive capacity, environmental cooperation, and managerial environmental concern to have significant positive effects on GIP, where GIP positively impacted GEO and SEP. Besides, GIP partially mediated the relationship between internal green dynamic capabilities on GEO and SEP. The results also demonstrated that environmental regulations significantly moderated the relationship between GEO and SEP. Furthermore, by linking these three concepts in a single model, this study theoretically pioneering and responding to bridge significant gaps emerged in the NRBV theory. This study provides crucial practical implications for entrepreneurs, policymakers, and academicians. Limitations were also discussed.

Structural equation modeling for three aspects of green business practices: a case study of Bangladeshi RMG's industry

Green business (GB) had often been regarded as a pervasive trend that underlies the operations and performance of businesses. By portrayal of three aspects view of the green business, this paper evaluates green business approaches within the Bangladeshi ready-made garments (RMG) sector and provides a structured framework for the factors affecting the utilization of green business approaches. This study further evaluates how the environmental, societal, and economic impact derived green business practices. The framework is experimentally tested by the partial least square approach to structural equation modeling (PLS-SEM) concentrated on survey responses quantifying the green business practices within 40 RMG organizations situated in Dhaka and Chittagong, Bangladesh. The findings demonstrate that there is a positive relationship between environmental, social, and economic aspects. More specifically, the PLS-SEM estimation demonstrates that the interaction between environmental and economic sustainability has a substantial proportion of values towards profiling GB practice. Meanwhile, there is a vast gap for profiling the performances of environmental and economic aspects through social aspects within the RMG sectors of Bangladesh. Also, there is a significant difference between the predicted and factual green business adoption tendencies and views among different industrial enterprises, especially for waste management and water pollution based on the findings of the SEM-PLS model. Throughout the context of the rapid growth of socioeconomic development and new technological advancement, social level performance possess comparably weak influences of GB strategy on the within Bangladeshi RMG sectors. In the meantime, as the stricter law has a vital impact on the firm's strategies for becoming more environmentally friendly practices, it instituted as an essential variable for quantifying social sustainability. Moreover, the study recommends some suggestions emphasizing the part of the identified model in the context of encouraging business organizations to indulge in environment-oriented socio-economy actions and thus change the emphasis of potential GB study directions.

Environmental pollution, income growth, and subjective well-being: regional and individual evidence from China

The study of subjective well-being (SWB) has attracted considerable attention from scholars globally. This has stimulated numerous studies that have identified regional and individual factors associated with SWB, but the extant research lacks multi-level studies that simultaneously examine their influence on SWB. Environmental pollution is one of such factors, but few studies have investigated its effect on SWB in China particularly. The current study addressed these problems by conducting hierarchical linear regressions to explore the effects of regional and individual factors on Chinese people's SWB. Three major environmental pollutions (wastewater pollution, domestic waste pollution, and air pollution) were studied using data from the Chinese General Social Survey 2013 and China Statistical Yearbook 2014. The results indicated that wastewater pollution and domestic waste pollution had significant negative influence on SWB. Moreover, gross domestic product (GDP) per capita might contribute more to the improvement of SWB than income inequality. This implies that individuals' SWB might be enhanced by improving absolute income, which is consistent with the micro-level proposition of the Easterlin paradox. Overall, these findings signal that effective management of environmental pollution is essential for promoting the SWB of the people in China.

The impact of foreign direct investment on sustainable development in China

The purpose of this paper is to investigate the impact of foreign direct investment (FDI) on sustainable development (SD) in China by using a regression model. Based on a panel date ranging from 1996 to 2016, this study makes an assessment of how development is sustained by means of an impose response function model. The findings revealed that, first, FDI has an insignificant influence on environmental quality in the long run but aids in financing physical capital deficits. Second, there exists the presence of the pollution halo hypothesis. In addition, in the short-term, pollution variables (sulfur dioxide and smoke and dust) cause significant variances on the amount of FDI inflows into China. However, they significantly lose their variation effect to FDI inflows in the long run due to the utilization of advanced technologies. Lastly, it is recommended that stricter environmental policies and strategies are implemented to curtail foreign investors from defaulting.

Assessing enablers of e-waste management in circular economy using DEMATEL method: An Indian perspective

With increasing population, excessive use of electrical and electronic products and extreme demand of resources have compelled the linear economy to transform into Circular Economy (CE). In the current scenario, e-waste management has become the top priority of all the developed and developing nations especially those in the transition phase. The generation of e-waste has increased proportionally across the world and created an intense pressure on the firms to implement sustainable practices to redesign and recycle the products. The current status of the developing countries like India confronts number of challenges to manage e-waste produced, and the only possible solution is to minimize the waste generation and practicing recycling processes. For transforming into CEs, there is a need to identify the most influencing key enablers through which an effective and robust e-waste management (e-WM) system can be developed. An extensive literature review and expert judgments are expended to identify the most influencing key enablers of e-WM in circular economies, and, being the highest producer of e-waste, Mumbai (Maharashtra) has been chosen as the case location. To explore the strength of causal and effect enablers, the DEMATEL method is applied. This study has shown that 'Environmental management system' (EMS) is the most significant and important driving enabler to influence all the other existing enablers. This study has also highlighted that e-WM can be efficient if it focuses on producing eco-friendly products, developing strict legislations, building green image and supporting the producers to implement CE practices. This study helps stakeholders and policy makers to reduce the burden from the environment and focus on developing an efficient e-WM system on the basis of identified key enablers like EMS and collaboration with environmental partners to contribute towards CE transition.

Gasification of sewage sludge within a circular economy perspective: a Polish case study

Sewage sludge (SS) is a by-product of wastewater treatment plant (WWTP) operation. Due to fast rates of urbanization and industrialization, and rapid population growth, the world community faces a serious challenge associated with its disposal. There is an urgent need to explore low cost, energy efficient, and sustainable solutions for the treatment, management, and future utilization of SS. Thermal conversion of SS is considered the most promising alternative for sustainable SS management. Among three main thermochemical processes, it seems that gasification (GAS) of SS has the most advantages. The aim of this paper is a presentation of the gasification process as a sustainable method of SS management that takes into account the idea of a circular economy (CE). Gaseous fuel production, phosphorus recovery potential, and solid adsorbent production during the gasification process are analyzed and discussed. Result of this study shows that the lower heating value (LHV) of the gas from SS GAS process is up to 5 MJ/m3n and it can be effectively utilize in an internal combustion engines. The analysis proved that solid fraction after the SS GAS process can be treated as a valuable phosphorus source and perspective adsorbent materials. The amount of P2O5 in this material was equal to 22.06%. It is similar to natural phosphate rocks (28.05%). The maximum of the adsorption capacity of the phenol was comparable with commercial activated carbon (CAC): 42.22 mg/g for solid fraction after SS GAS and 49.72 mg/g for CAC. Graphical abstract.