Heterogeneous role of energy utilization, financial development, and economic development in ecological footprint: How far away are developing economies from developed ones

Toward maritime sustainability in GCC countries: What role do economic freedom and human capital play?

Gulf Cooperation Council (GCC) members have recently experienced rapid environmental degradation. Although there has been a boom in studies investigating the causes of environmental degradation, little is known about the drivers of maritime sustainability. This study examines the impacts of economic freedom and human capital on the fishing grounds footprint in GCC countries between 2000 and 2021. To account for potential heterogeneity and nonnormal distribution of the data, the study implements the Method of Moments Quantile Regression (MMQR). The empirical investigation suggests interesting findings. First, the analysis confirms the Marine Environmental Kuznets Curve across GCC countries, with a turning point of $38,177 per capita. In addition, the population has long-term detrimental effects on the fishing grounds footprint. Economic freedom and financial development have also deteriorated maritime sustainability, but only for low and medium quantiles. These factors are neutral for high levels of maritime degradation. Furthermore, improved human capital contributes to maritime sustainability in the long-run. Finally, the adverse repercussions of economic freedom are reduced by improved human capital and environmental awareness.

Modeling the ecological footprint and assessing its influential factors: A systematic review

BACKGROUND

Various factors have been found responsible for the increment in ecological footprint resulting difficulties in maintaining environmental sustainability. This has been noticed through a modeling perspective. Identifying the factors affecting Ecological Footprint helps policymakers to formulate policies regarding sustainability. However, studies conducted based upon systematic reviews on Ecological Footprint through modeling are still limited.

OBJECTIVE

This study intends to identify influential factors associated with ecological footprint through a systematic review.

METHODS

ProQuest, Science Direct, Scopus, and Web of Science databases were used to search literature systematically. Particular keywords and Boolean operators were applied to dig out relevant studies for the review. Peer-reviewed research articles published in the English language till September 13, 2023, were incorporated for the analysis. Following the guidelines of Preferred Reporting Items for Systematic Review and Meta-Analysis (PRISMA), 1011 articles were identified from four different databases and only 37 research papers were eligible for this study. These articles were assessed and relevant information was extracted and then amalgamated into the systematic review.

RESULTS

Gross domestic product, urbanization, energy consumption, renewable energy, non-renewable energy, natural resources, bio-capacity, human capital, foreign direct investment, trade openness, and financial development were observed as key factors of the ecological footprint.

CONCLUSION

Factors known to influence ecological footprint need to be addressed properly for environmental sustainability including widespread use of renewable energy.

Does green investment affect environment pollution: Evidence from asymmetric ARDL approach?

Pollution in the environment is today the biggest issue facing the globe and the main factor in the development of many fatal diseases. The main objective of the study to investigate green investments, economic growth and financial development on environmental pollution in the G-7 countries. This study used annual penal data from 1997 to 2021. The panel NARDL (Non-linear autoregressive distributed lag) results affirm that the positive change of green investment and negative shock in green investment have a significant and positive association with environment pollution in G-7 nations. Our findings provide more evidence for the long-term asymmetry between financial development and environmental performance. However, the findings confirm that a positive modification in financial development has a positive and significant effect on environment pollution. Whereas negative shock in financial development is negative and insignificant relationship with environment pollution. Moreover, the outcomes of the study reveal that both positive shock in gross domestic product growth and negative shock of economic growth have a significant and positive link with environment pollution in G-7 countries. According to the findings, by lowering carbon dioxide emissions, green investments reduced environmental pollution in the G-7 nations over the long and short term. Moreover, it is an innovative research effort that provides light on the connection between green investments, financial development, and the environment while making mention to the EKC in G-7 countries. After all these, our recommendation is to increases green investment expenditures to reduce environmental pollution in the G-7 nations based on our findings. Additionally, one important way for the nation to achieve its sustainable development goals is to improve advancements in the financial sector.

Foreign investments and load capacity factor in BRICS: the moderating role of environmental policy stringency

This research examines whether environmental regulations have a moderating effect on the link between foreign direct investment and the environment, as well as the effect of foreign capital investments on environmental quality for BRICS nations. In this approach, using second-generation panel data methodologies for the period 1992-2020, the impacts of foreign direct investments, real national income, consumption of renewable energy, and environmental stringency index on the load capacity factor are explored in the base empirical model. In order to test if there is any evidence of a potential parabolic link between economic growth and environmental quality, the model also includes the square of real national income. In addition, in the robustness model, the moderating role of environmental policy on foreign investment and environmental quality is checked. Empirical results show a U-shaped association between environmental quality and economic development. The usage of renewable energy and the environmental stringency index is also shown to improve environmental quality, although foreign direct investments decrease it. Finally, it is determined that environmental regulations are effective in undoing the negative impacts of foreign capital investments on environmental quality, demonstrating the validity of their moderating function.

Analyzing the linkages of rural tourism, GDP, energy utilization, and environment: Exploring a sustainable path for China

Rural tourism spurs economic growth and jobs but harms the Environment due to energy demands. The study accounts for energy use, globalization, and economic growth to assess and mitigate rural tourism's environmental impact. For data covering 2001Q1 to 2019Q4, GMM approaches are utilized to analyze the environmental implications of rural tourist enterprises. The findings suggest that rural tourism-related catering services increased substantial and positive overall environmental quality, except N2O. However, food and beverage services negatively influence greenhouse gas emissions and only PM2.5 in air pollution. Sightseeing hurts greenhouse gas emissions while having a positive impact on air pollution. Furthermore, traveling has a considerable negative influence on CO emissions in air pollutants. Energy use only has a substantial influence on CO2 and CO, but GDP has a negative impact on N2O emissions. Globalization has a negative impact on CO2 and air pollutants other than PM2.5. Catering services associated with rural tourism positively affect overall environmental quality, excluding N2O emissions. Rural tourism's food and beverage services harm greenhouse gas emissions (including CO2) and air pollution (particularly PM2.5). Traveling has a significant negative impact on CO emissions, but sightseeing has a dual impact, both negative on greenhouse gas emissions and positive influence on air pollution. Furthermore, shopping and leisure have little impact on overall environmental quality in China. The crucial efforts' policy ramifications are addressed as well.

Demystifying the association between economic development, transportation, tourism, renewable energy, and ecological footprint in Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation region during globalization mode

The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) economies have yet to meaningfully contribute to accomplishing Sustainable Development Goals (SDG 7) affordable and clean energy, (SDG 8) decent work and economic growth, and (SDG 13) climate action. Dealing with this issue might require a shift or alteration of policy framework that is the major theme of this study. Consequently, this present research inspects the influence of economic growth, transportation, tourism sector development, and renewable energy on ecological footprint using panel time series from 1990 and 2019 for the BIMSTEC region. To evaluate this dynamic nexus between the mentioned environmental pollution drivers of ecological footprint, this study employed the augumented mean group (AMG) and common correlated effect mean group (CCEMG) regression estimators after detection of cross-sectional dependency. The empirical outcomes denote that economic growth and transportation sector of BIMSTEC countries increase the levels of ecological footprint. Conversely, tourism sector development, globalization, and renewable energy protect the ecological excellence in the region. Moreover, it is observed that a unidirectional causality exists from economic growth to ecological footprint, ecological footprint to transportation, tourism to ecological footprint, and globalization to ecological footprint, while bidirectional causality exists between renewable energy and ecological footprint. By observing the positive function of tourism, green energy, and globalization on sustainable environment progress, central authorities are capable to redesign policies concerning supportable efficient technologies and regulate globalization towards green programs and agenda to reduce global warming.

Harnessing digital solutions for sustainable development: a quantile-based framework for designing an SDG framework for green transition

The paper investigates how financial technology might help countries promote renewable energy and reach the Sustainable Development Goals (SDGs). It is generally agreed that FinTech (financial technology) has the ability to help achieve the SDGs by 2030 and promote a sustainable society through technology-driven solutions. The financial sector has launched greener investment options in order to mobilize substantial financial resources towards climate neutrality in the coming decade. To achieve the Sustainable Development Goals and the goals set forth in the Paris Climate Agreement, however, this procedure must be accelerated. With the use of the innovative "quantile-on-quantile (QQ)" technique, this study uses the data of top FinTech economies for the period 1990-2020 and provides country-specific insights into the relationship between FinTech and renewable energy. Using quantile causality analysis, we may identify the direction of causality between these variables at the observed extremes. An extensive long-term relationship between FinTech and renewable energy was found in all countries. The leading FinTech economies show a positive association between the two at most quantiles, and a bidirectional causality relationship is seen across significant quantiles. This highlights the considerable yet variable impact FinTech policies have on renewable energy and vice versa in these innovative economies. These results highlight the connection between growing FinTech and promoting a green transition to further Sustainable Development Goals and provide useful insight for policy formulation.

Environmental cost of natural resources, globalization, and economic policy uncertainty in the G-7 bloc: do human capital and renewable energy matter?

The panel of G-7 economies is considered one of the most prosperous economies, endowed with abundant natural and renewable energy resources. Due to their richness in these resources, most economic development and activities, including environmental and economic aspects, depend on and are determined by energy consumption and natural resource rents. However, the increasing dependence of G-7 economies on energy consumption and natural resources raises questions about their long-term growth and ecological policies towards achieving sustainable development goals (SDGs). Therefore, the main objective of this study is to examine the influence of natural resources, renewable energy, economic policy uncertainty, human capital, and globalization on the ecological footprint in the panel of G-7 economies from 1990 to 2020. After confirming the cross-sectional dependence issue, this study applied second-generation panel data approaches to estimate robust and reliable outcomes. The estimated evidence from this study discovered that natural resources, globalization processes, and economic policy uncertainty significantly increase the level of ecological footprint in the region. In contrast, renewable energy and human capital provide feasible solutions for ecological improvement in the study area. Likewise, the interactive role of renewable energy with economic policy uncertainty significantly protects the environmental quality in the study area. Based on the estimated findings, this study recommends various achievable policy options for policymakers and the governments of these economies to ensure environmental sustainability.

Does the causality between environmental sustainability, non-renewable energy consumption, geopolitical risks, and trade liberalization matter for Pakistan? Evidence from VECM analysis

Geopolitical threats have increased dramatically globally in recent years, adversely affecting the environment tremendously. On the other hand, there is a growing gap between the use of non-renewable energy, trade liberalization, and environmental sustainability. Due to this, the current work simulates the links between geopolitical threats, non-renewable energy use, trade liberalization, and environmental sustainability using a vector error correction model (VECM) and Granger causality test. The analysis includes data spanning from 1980 to 2021. Research outcomes indicated that geopolitical risks (GPR), Non-renewable energy consumption (NRE), Natural Resource (NR) and industrialization (IND) have a negative and statistically significant influence i.e., 0.234, 0.052, 0.028, and 0.070 units respectively on environmental sustainability (ES) while natural resource (NR) have also negative but insignificant impact on environmental sustainability. Alongside, trade liberalization (TR) and urbanization (UB) posed a positive and statistically significant influence i.e., 0.040 and 0.437 units respectively on ES. Further, causality analysis validates the feedback effect among GPR, NRE, TR, and ES. GPR, NRE, and TR granger cause environmental sustainability. The government can prepare for potential environmental disasters such as floods, droughts, and earthquakes by investing in early warning systems, emergency response teams, and disaster relief supplies. This can help mitigate the impact of geopolitical risks that can result in natural disasters. Pakistan should prioritize investing large resources in diplomatic endeavours to improve regional dynamics and ties with neighboring nations. Pakistan should place a high emphasis on developing methods targeted at reducing its non-renewable energy use to mitigate the negative effects. This might entail offering financial incentives, implementing efficient feed-in tariff schemes, and developing a thorough strategy for boosting the capacity of renewable energy sources.

From growth to sustainability: investigating N-shaped EKC and the role of energy productivity, technological advancement, and human capital in OECD economies

Environmental degradation rates have been on a concerning upward trajectory in recent decades, directly threatening the well-being of global populations. Responding to this urgent matter, scholars have been driven to explore its nuances, particularly emphasizing lowering energy consumption and carbon emissions amidst the growing demands of growing economies. Achieving the targets outlined in the 2015 Paris Climate Agreement has also become a priority for many countries. Therefore, this study scrutinizes the Environmental Kuznets Curve (EKC) hypothesis, specifically focusing on the role of energy productivity, technological advancement, and human capital in fostering a sustainable environment across 35 OECD economies from 1990 to 2018. Utilizing three robust econometric techniques, Cross-Sectional Autoregressive Distributed Lag (CS-ARDL), Fully Modified Ordinary Least Squares (FMOLS), and Dynamic Ordinary Least Squares (DOLS), we have drawn insightful conclusions from our data. The analysis substantiates an N-shaped EKC hypothesis relationship between GDP and CO2 emissions, pointing towards an initially increasing, then decreasing, and finally an increasing again trend of emissions with GDP. Furthermore, the long-term projections underscore that energy productivity, technological progression, and human capital formation harm the environment. These findings culminate in a call for governments to orchestrate extensive plans and initiatives. This involves promoting green technologies, renewable energy-based ideas, and comprehensive education and awareness programs. These efforts should span all educational levels, highlighting climate change, sustainable practices, and the need for CO2 reduction, empowering societies to contribute to a sustainable future.

Environmental regulation, renewable electricity, industrialization, economic complexity, technological innovation, and sustainable environment: testing the N-shaped EKC hypothesis for the G-10 economies

This study examines the validity of the environmental Kuznets curve (EKC) hypothesis and the role of environmental regulation, renewable electricity, industrialization, economic complexity, and technological innovation in sustainable environment for the G-10 economies, namely, Belgium, Canada, Germany, Italy, Japan, Netherlands, Sweden, Switzerland, the United Kingdom, and the USA, from 1994 to 2020. We employed CS-ARDL (cross-sectional augmented distributed lag (CS-ARDL), FMOLS (fully modified ordinary least squares), and DOLS (dynamic ordinary least squares) for the analysis of the data. The estimates confirm the N-shaped EKC hypothesis between the GDP and CO2 emission. Moreover, the long-run estimates exhibit that environmental tax, renewable electricity, economic complexity, and technological innovation have negative effect on CO2 emission, while GDP, industrialization and arable land have positive effect on CO2 emission. Based on these findings, we propose that governments must implement large-scale government plans and initiatives to encourage the development of environmentally friendly technologies and ideas based on renewable energy. Moreover, further growing renewable energy, environmental policies like a carbon tax, investments in green technologies, subsidies, and rewards for renewable energy infrastructure investment should be taken into account.

Barriers to effective implementation of end-of-life vehicle management in Indonesia

Effective end-of-life vehicle (ELV) management is crucial for minimizing the environmental and health impacts of Indonesia's growing automotive industry. However, proper ELV management has received limited attention. To bridge this gap, we conducted a qualitative study to identify barriers to effective ELV management in Indonesia's automotive sector. Through in-depth interviews with key stakeholders and a strengths, weaknesses, opportunities, and threats analysis, we identified internal and external factors influencing ELV management. Our findings reveal major barriers, including inadequate government regulation and enforcement, insufficient infrastructure and technology, low education and awareness, and a lack of financial incentives. We also identified internal factors such as limited infrastructure, inadequate strategic planning, and challenges in waste management and cost collection methods. Based on these findings, we recommend a comprehensive and integrated approach to ELV management involving enhanced coordination among government, industry, and stakeholders. The government should enforce regulations and provide financial incentives to encourage proper ELV management practices. Industry players should invest in technology and infrastructure to support effective ELV treatment. By addressing these barriers and implementing our recommendations, policymakers can develop sustainable ELV management policies and decisions in Indonesia's fast-paced automotive sector. Our study contributes valuable insights to guide the development of effective strategies for ELV management and sustainability in Indonesia.

Nexus between FinTech, renewable energy resource consumption, and carbon emissions

An increase in energy crises and environmental degradation has pushed countries to adopt more sustainable practices. In this situation, financial technology has played an important role to lower carbon emissions by integrating renewable energy resources that can help increase renewable energy resource consumption (REC) and lower carbon emissions (CE). To better understand this transmission mechanism, this study has collected a panel dataset of 26 Morgan Stanley Capital International (MSCI) developing countries for the 2011-2021 period. Furthermore, a proxy indicator for financial technology (FinTech) was developed by extracting relevant data from CrunchBase. Pooled ordinary least square and robust fixed effects technique was adopted to analyse the influence of FinTech on renewable energy and carbon emissions for robustness. Results of the study show that FinTech development promotes renewable energy resource consumption (REC) and discourages carbon emissions (CE), moreover, economic growth positively impacts, and carbon emissions (CE). This research emphasizes the importance of adopting financial technology as an important deterrent of further environmental damage. Additionally, in line with the results of this study, policymakers should design and implement an industrial policy which promotes sustainable economic growth which can pave the path for a circular economy model in the future.

Environmental technology, economic complexity, renewable electricity, environmental taxes and CO2 emissions: Implications for low-carbon future in G-10 bloc

This study investigates the impact of environmental technological innovation, economic complexity, energy productivity, the use of renewable electricity generation, and environmental taxes on carbon dioxide (CO₂) emissions in the G-10 countries for the timeframe from 1995 to 2020. The purpose of the study is to examine the need for a clear plan or strategy to achieve environmental objectives in G-10 countries. In both short-term and long-term projections, the increased use of environment-based technology, economic complexity, and renewable electricity generation has a major positive impact on carbon emission reduction. Moreover, the results demonstrate both unidirectional and bidirectional causality from carbon emissions to renewable energy, electrical generation, and environment-based technologies, respectively. Based on the results, the study proposes a number of concrete policies, such as updating modernized tax systems, increasing tax collection, providing individuals with the means to finance the Sustainable Development Goals through incentive regulations, and making grants from international organizations and the private sector available to finance investments toward the Sustainable Development Goals (SDGs) and carbon neutrality environment targets. This is the study's most significant contribution in order to attain a sustainable and low-carbon future in the G-10 countries, which has policy implications for governments and policymakers.