The effects of green growth, environmental-related tax, and eco-innovation towards carbon neutrality target in the US economy

The role of green growth and institutional quality on environmental sustainability: A comparison of CO2 emissions, ecological footprint and inverted load capacity factor for OECD countries

Green growth is of great importance in terms of solving environmental problems and achieving sustainable development goals. However, the existing literature has not investigated how green growth affects environmental degradation and environmental sustainability variables. In light of this gap, this study aims to analyse the impact of green growth and institutional quality on CO2 emissions, ecological footprint and inverse load capacity factor in OECD countries by constructing three different models. The results of the analysis indicate that (i) green growth exerts a significant mitigating and differentiating effect on CO2, ecological footprint and inverted load capacity factor in the long run. This is evidenced by a 1% increase in green growth reducing CO2, ecological footprint and inverted load capacity factor by 0.563%, 0.373% and 0.198%, respectively. (i) The impact of green growth on CO2 and inverted load capacity factor in the long run is negative and statistically significant; (ii) the impact of green growth on CO2 and inverted load capacity factor in the short run is negative and statistically significant; (iii) the impact of institutional quality on deterioration is positive and significant in the long run; (iv) the impact of population on deterioration and sustainability is significant and mixed. The findings indicate that decision-makers in OECD countries should review green energy policies when setting the sustainable development goals, as environmental sustainability is more challenging than reducing pollution.

Exploring the convergence of ICT, digital financial inclusion, environmental pressures, and free trade and their significance in driving sustainable green investment initiatives under carbon neutrality targets

Due to its rapid economic development over the past few decades, China is now at the forefront of environmental issues, necessitating creative solutions that combine ICT, digital financial inclusion, environmental pressure, and free trade to encourage green investment. This study aims to investigate the linkage between ICT, digital financial inclusion, environmental pressure, free trade, and green investment in China from 1996 to 2022 by employing the Partial least squares structural equation modelling (PLS-SEM). As per our results, the statistical values of Cronbach's alpha, composite reliability, and average variance are all above the cutoff point, demonstrating the applicability of this methodology. According to the structural model's results, the path coefficients between digital financial inclusion and green investment, environmental pressure and green investment, and GDP and green investment are positively significant, implying that these three factors are crucial for boosting green investment in China. In addition, our vector autoregressive model results suggest that ICT, digital financial inclusion, environmental pressures, free trade, and GDP cause green investment to rise in China. Thus, the policymakers in China should focus on developing comprehensive policies to encourage green investment in China, which is crucial for economic and environmental sustainability.

Exploring the asymmetric effect of fiscal policy instruments in encountering environmental degradation: proposing an SDG framework for India

Asian countries are facing difficulties in attaining sustainable development goals (SDGs), and India is not an exception to it, with environmental degradation being one of the primary issues. Therefore, a policy-level reorientation may be required to address it. From this standpoint, fiscal policy instruments may come in handy towards fully integrating the SDGs into its agenda. The present investigation designs an SDG framework for India that could serve as an example for other Asian nations. This study introduces a new investigation exploring the relationship between fiscal policy instruments and environmental quality in India by examining the environmental Kuznets curve (EKC) hypothesis from 1990 to 2021. A nonlinear autoregressive distributed lag (NARDL) model is applied for empirical examination. The findings indicate that positive and negative shocks in fiscal policy instruments have significant impact on carbon emissions in both the long and short run. The study has also found evidence of an "inverted U-shape" EKC for India. These results are valuable from a policy perspective for India and other Asian countries to address environmental issues. The study has also outlined potential outcomes that may benefit India's fiscal policy in resolving environmental issues and attaining better economic growth. In the end, the study proposes a policy framework that supports SDG 7, SDG 8, SDG 12, SDG 13, and SDG 17 objectives.

Quantile-based effect of energy, transport, and total environmental tax on ecological footprint in EU5 countries

Considering a vast majority of application areas, the study investigates how environmental tax (ET) affects ecological footprint. In this context, the study examines the European Union Five (EU5) countries, considers ecological footprint (EF) as the proxy of the environment, uses ET as tax-based environmental measures by making both disaggregated (i.e., energy and transport) and aggregated level analysis, and performs novel nonlinear quantile-based approaches for the period from 1995/Q1 to 2021/Q4. The outcomes show that on EF (i) energy-related ET has only a declining effect at lower and middle quantiles in Germany and at lower quantiles in Italy, whereas it does not have a curbing effect in other countries; (ii) transport-related ET is not effective on EF in any country, which means that it does not have a curbing effect; (iii) total ET has a decreasing effect in only Germany; and (iv) the alternative method validates the robustness. Thus, the study demonstrates the changing effect of ET across countries, quantiles, and ET types in curbing EF. Hence, it can be suggested that Germany can go on relying further on energy-related ET practices to decrease EF, whereas there is a long way for the remaining EU5 countries as well as transport-related ET in curbing EF.

How does trade policy uncertainty affect green innovation in the USA and China? A nonlinear perspective

Green innovations are the most critical factor in promoting environmental sustainability worldwide. Trade can speed up the adoption of green innovations by facilitating the transfer of information, skills, and technology. However, trade policy uncertainty can create significant challenges for businesses investing in eco-innovations, leading to increased risk, reduced investment, and slower progress toward sustainable technologies. Recently, a growing number of researchers have shown their interest in finding the factors that can impact green innovations, but none have investigated the influence of trade policy uncertainty on green innovations in the USA and China. In addition, none of the past studies has relied on the nonlinear assumption. This analysis fills these gaps by examining the nonlinear impacts of trade policy uncertainty on eco-innovations in China and the USA over 2000Q1-2021Q4 by employing a nonlinear ARDL model. The finding reveals that a positive shock in trade policy uncertainty results in a decrease in green innovation in the USA and China, while a negative shock in trade policy uncertainty leads to an increase in green innovation in the USA over the long run. The nonlinear models also indicate that a positive shock in trade policy uncertainty harms green innovation in both the USA and China in the short run. The robustness of these results is confirmed by the NQARDL model, which confirms that an upsurge in trade policy uncertainty lowers green innovation in most quantiles in the USA and China in the short and long run. Conversely, negative shocks in trade policy uncertainty stimulate green innovation at most quantiles in both China and the USA, in the short and long run. Thus, policymakers need to consider the potential impact of trade policies on eco-innovations and work to create stable and predictable trade environments that support the growth of renewable technologies and other sustainable solutions.

The role of digital transformation in supply chain efficiency and economic output

From the perspective of sustainable supply chain management (SSCM), this research looks at the key elements influencing how small- and medium-sized companies (SMEs) move toward a circular economy (CE). This research aims to understand the elements that influence SMEs to embrace CE principles and determine the real-world applications of SSCM practices. This research gathered and analyzed data from diverse European SMEs working inside CE networks using a mixed-method approach. We received answers from several of these firms using a survey form sent and emailed to them. The replies were then assessed using an independent t test to account for any biases. We used confirmatory factor analysis (CFA) for the validity assessment, compound consistency, and corrected-item-total association measures to validate the model's validity and reliability. According to our research, SMEs are influenced significantly by societal pressures, green economic incentives, and environmental dedication when deciding whether to adopt CE practices. Our study further emphasizes the importance of SSCM for SMEs' successful transition to a CE model, especially regarding resource and waste management efficiency. This work contributes to the corpus of research on the topic by providing empirical support for the function of SSCM in easing the transition towards CE in the setting of SMEs. The results might serve as a reference for managers and policymakers as they create plans to encourage SMEs to embrace CE practices and to emphasize the advantages of such a change on the economic, social, and environmental fronts. Putting a particular emphasis on the vital roles that public pressure, green financial incentives, and ecological dedication play, this research provides insights into the complex interactions between SSCM and CE transition in SMEs. Further study is needed to examine how these determinants could fluctuate across various industries and geographies.

Does geopolitical risk hinder sustainable development goals? Evidence from a panel analysis

This paper is likely the first attempt to empirically investigate the direct effect of geopolitical risk on sustainable development goals (SDGs). We employ a newly developed SDG index along with its 17 sub-indices from the United Nations to capture various aspects of sustainable development. On a panel sample covering 41 countries from 2015 to 2021, we find that elevated geopolitical tensions can hinder the progress towards achieving sustainable development goals. This result is robust to various model specifications and estimation approaches. Further analyses show that the two dimensions affected are Decent Work and Economic Growth (SDG8) and Climate Action (SDG13). Heterogeneity test finds that the negative effect of geopolitical risks is only present in countries highly dependent on natural resources. More importantly, improvements in institutional quality could partially offset the detrimental effect of geopolitical risks on sustainable development goals. Therefore, this study provides important implications for policymakers in devising measures to maintain the progress to achieve SDGs in the era of rising global uncertainties.

Creating a greener future: the crucial role of green innovation and supply chain management in corporate sustainability

One of the most pressing concerns today is how to improve green innovation and supply chain management for company sustainability. It has been discovered that inefficient supply chain management is a major barrier limiting eco-friendly innovation. The supply chain management process is crucial to a company's long-term viability, yet previous research barely scratched the surface of its significance. This article uses a resource-based view to investigate how integrating green innovation and organizational agility into the supply chain management process contributes to the long-term success of businesses. This study used a cross-sectional approach. Structured equation modeling was used to examine data collected through convenience sampling from 475 employees of Chinese multinational manufacturing enterprises. Green innovation helps smooth over the bumps on the road between supply chain management and sustainable business results. Green innovation and business sustainable performance also benefit from organizational agility, which was not shown to moderate this relationship. The study teaches that in today's knowledge-based economy, firms that invest in novel technologies and adopt greener strategies are better able to address sensitive issues like supply chain management and organizational agility and achieve long-term success. This research aims to provide light on the complex interconnections between supply chain management, green innovation, and the sustainable performance of businesses. The theoretical framework for the present research was validated by the occurrence of a positive association between these variables.

The effects of environmental taxes, renewable energy consumption and environmental technology on the ecological footprint: Evidence from advanced panel data analysis

The world faces various challenges in terms of environmental sustainability. An increasing world population, the rigidity of traditional production and consumption patterns, the complexity of economic activities, globalization, and harmful emissions intensify environmental pressures. In this context, the evaluation of various environmental policy instruments is important to alleviate environmental pressures and, thus, combat climate change. This study aims to investigate the impact of environmental taxes, renewable energy consumption, and environmental technology on the ecological footprint in OECD countries by using data from 1994 to 2018 and modern panel data techniques. The results of the AMG estimator indicate that environmental taxation and renewable energy consumption play a role in reducing the ecological footprint; however, results imply that environmental technology does not have a statistically significant effect on the ecological footprint. In addition, we applied DCCE and CS-ARDL estimators to obtain robustness results and observed that the findings remained valid. Therefore, the results of the study suggest that regulations to increase the effectiveness of environmental taxes, renewable energy consumption, and environmental technology should be promoted to ensure environmental sustainability.

Advancing higher education and its implication towards sustainable development: Moderate role of green innovation in BRI economies

Environmental deterioration is one of the major problems the globe is facing in the modern period. On the other hand, several groups around the world have endeavored to launch efforts to protect the planet, such as the Sustainable Development Goals. Therefore, the proposed objectives' primary duty is to strike a balance between development and environmental concerns. This study looked at 65 Belt and Road Initiative (BRI) economies to see how factors, including the economic complexity index, urbanization, ICT, higher education, and green innovation, affected carbon emissions in the presence of sustainable development. Annual time series data from 2000 to 2020 have been used in the analysis. This study employs the CC-EMG to determine the durability of the association between the variables. AMG and quantile GMM regression estimations were used to test the robustness and reproducibility of the results. The results reveal that higher education and green innovation help lower carbon emissions, whereas the economic complexity index and urbanization are beneficial for increasing economic activity and advancing information and communication technologies. The economic complexity index, ICT, and higher education are all negatively impacted by green innovation. Important policy implications of the computed coefficients for the selected and other developing markets in planning a suitable path forward to a sustainable environment are also provided.

Dynamic relationship between green finance, environmental taxes, and CO2 emissions in transition toward circular economy: what causes what?

The study was aimed at investigating the dynamic relationship between environmental taxes, green financing, and carbon dioxide (CO2) emissions in Brazil, China, India, and South Africa from 1994 to 2019. To thoroughly examine the proposed relationship, a family of robust econometric methods is used to get reliable and accurate results. Our evidence indicates that green finance and CO2 emissions are negatively connected with each other. Similarly, positive relationship is found between environmental taxes and CO2 emissions. Additionally, environmental taxes and green finance are positively related as well. Further, the results of the Method of Moments Quantile Regression estimator indicate that green finance and CO2 emissions decrease in countries with higher pollution compared to those with lower pollution. Interestingly, environmental taxes only contribute to pollution in countries with higher emissions, whereas CO2 emissions increase environmental taxes in all sample countries. Lastly, green finance has a mitigating effect only in countries with greater pollution, and CO2 emissions have a negative rebound effect on green finance in countries with greater CO2 emissions. According to the evidence, green financing can be an effective tool for promoting environmental quality. By allocating the funds collected from environmental taxes to green financing, environmental sustainability can be promoted in sample countries.

Seasonal characteristics of particle size distribution of organic markers in atmospheric particulate matters in Beijing

Beijing is a metropolis that is quickly growing, which has significant and unusual air pollution issues. In Beijing, organic matter makes up about 40%-60% of the total mass of fine particles, making it the most prevalent portion and highlighting its crucial role in reducing air pollution. However, a thorough chemical analysis of particulate organic matter has never been reported in Beijing. In this work, the organic components of fine particles in Beijing's urban environment were examined by the Gas Chromatography and Mass Spectrometry (GC/MS) method. In 30 p.m. (Particulate matter) 2.5, more than 101 unique chemical compounds were identified and measured. Seven samples from the 2015-2016 summer, including harvest, cold, Aromatic hydrocarbons, unsaturated fats, ferulic acid, polyaromatic, and some tracer substances (hopanes, present in environmental samples, and corticosteroids) were the main ingredients, with their total concentrations being 489, 1369, and 1366 ng*m-3 in the summer, respectively. Due to their various primary pollution sources, such as combustion processes, fuel combustion, and culinary emissions, various organic compounds displayed ostensibly varied seasonal tendencies. Discussion of these organic chemicals' prevalence and a source reveals Beijing's seasonal air pollution patterns.

Re-examining the governance effect of China's environmental protection tax

China has long exercised environmental control through the imposition of sewage charges. The start of the environmental protection tax on January 1, 2018, means that China has entered a new phase of environmental control. Unlike many previous studies on the role of environmental taxes at the firm level, this paper examines whether environmental taxes affect pollution emissions by influencing the behavioral choices of micro-actors. This paper first reviews the Pyrrhic tax, the Porter hypothesis, and the "double dividend effect." We then construct provincial panel data for 30 provinces in China from 2012 to 2019 as a sample, use the environmental protection tax as a natural experiment to evaluate the policy of this environmental protection tax using propensity score matching and difference-in-differences model, investigate the intermediate transmission mechanism of the policy implementation, and then analyze the differences in policy effects between provinces with different levels of economic development. The increased tax burden in 2018 led to a general reduction in provincial pollution emissions in which technological innovation by various groups, including firms and universities, had a mediating role.

Effect of green taxation on pollution emissions under ESG concept

Given the global ecological environment deteriorating, the ESG (environmental, social, and governance) concept advocates that economic growth and environmental protection must go hand in hand. Green taxations, in particular, are critical to economic development as they serve as a key lever for the government in regulating the national economy and improving environmental quality. This paper aims to examine the pollution reduction effect of green taxation in China. We constructed fixed effect model using provincial panel data from 2012 to 2017 to empirically examine the effect of green taxation-including environment protection tax, consumption tax, resource tax, and vehicle purchase tax-on pollution emissions. The findings show that environmental protection tax has a significant inhibitory effect on exhaust gas emissions but a poor inhibitory effect on wastewater and industrial solid waste emissions. Other green taxations-consumption tax, resource tax, and vehicle purchase tax-do not have an ideal inhibitory effect on pollution emissions. The paper concludes with policy recommendations organized around improving the environmental protection tax, actively promoting the ESG concept, and optimizing the top-level design of the green taxation system.

Do green innovation, I.C.T., and economic complexity matter for sustainable development of B.R.I. economies: moderating role of higher education

The research intends to enlarge the environmental economics literature by displaying the probable mechanisms between green innovation, higher education, and sustainable development. In the context of a new era, sustainability faces challenging obstacles. Many studies have looked at fundamental factors affecting CO₂ emissions, while the impact of green innovation and higher education is essential but mostly ignored. This study looked at 60 Belt and Road Initiative (B.R.I.) economies to see how factors, including green innovation, economic complexity index, I.C.T., and higher education, affect carbon emissions in the presence of sustainable development using annual data from 2000-2020. In order to calculate the persistence of the connection between the factors, this research uses the CS-ARDL. The results' robustness and reliability were examined using PMG estimation. The results indicate that the economic complexity index and urbanization positively impact carbon emission (CO₂). Higher education (E.D.U.) has a significant positive impact in the short run and a negative effect in the long run-on carbon emissions. Similarly, information and communication technology (I.C.T.) and green innovation have a negative impact on carbon emission (CO₂). Moreover, the results indicate that the moderate effect of green innovation with economic complexity index, information and communication technology, and higher education has a negative impact on carbon emission. The estimated coefficients also provide significant policy implications for the chosen and the other developing markets in designing an adequate route ahead to a sustainable environment.

The symmetric and asymmetric impacts of green energy, eco-innovation, and urbanization in explaining low-carbon economy for Pakistan

Over the past three decades, global economic development patterns have considerably affected the natural environment, and economies have endured a plethora of environmental concerns as a result of the negative effects of climate change. Among them, Pakistan is the fifth most vulnerable country, and climate change has harmfully affected the ecological and socio-economic conditions of the country. In this regard, this study aimed to investigate the role of green energy consumption, eco-innovation, and urbanization while explaining the dream of low-carbon economy and environmental sustainability in the context of Pakistan using annual time series dataset spanning from 1990 to 2020. The short-run and long-run associations among explained and explanatory variables were investigated using the symmetric, asymmetric, and quantile autoregressive distributed lag models. The findings of the study demonstrated that low-carbon economy, green energy consumption, ecological innovation, urbanization, GDP per capita, and labor force are cointegrated for the long-term association in symmetric, asymmetric, and quantile autoregressive distributed lag models. Furthermore, green energy consumption and effective eco-innovation are the most important paths to ensure environmental sustainability, while urbanization, GDP per capita, and labor force contribute negatively to the low-carbon economy. The findings of the study provide a policy framework for the development of a comprehensive strategy to promote environmental sustainability in Pakistan by emphasizing green energy consumption, ecological innovation, and controlled urbanization, as well as the incorporation of environment friendly policies into economic development policies.

Impact of energy efficiency, technology innovation, institutional quality, and trade openness on greenhouse gas emissions in ten Asian economies

Despite the fact that Asian economies have experienced robust economic growth in recent decades, rising pollution emissions have raised worries among policymakers about the long-term stability of this output growth. Knowing this fact, the present study attempts to empirically analyze the impact of some important factors, e.g., energy efficiency, technology innovations, trade openness, and institutional quality, on environment in 10 Asian economies over the period 1995-2018. Taking into account the slope heterogeneity and cross-sectional dependence present in the data, Westerlund and Edgerton (2008) and Banerjee and Carrion-i-Silvestre (2017) cointegration techniques and cross-sectionally augmented autoregressive distributed lag model (CS-ARDL) estimation are applied. For robust analysis, augmented mean group (AMG) and common correlated effects mean group (CCEMG) are also employed in the study. The empirical findings provided by selected variables reveal that both trade openness and institutional quality have detrimental impact, whereas energy efficiency and technology innovations have favorable impact on environmental quality in the selected economies. Empirical findings are robust to various policy recommendations. To create a sustainable future environment, Asian economies should focus on the improvement of their institutions quality and increase investments in technology innovations. The Asian countries must encourage trade-related environmental regulations and energy efficiency policies for better and sustainable environmental quality.

Effects of tourism and eco-innovation on environmental quality in selected ASEAN countries

Environmental issues have gained the attention of regulators and researchers worldwide. This present study empirically examines the validation of the environmental Kuznets curve (EKC) in the selected ASEAN economies for the period 1995-2018 in the presence of eco-innovations and tourism. This study assesses the short-run and long-run relationship between carbon dioxide emission, tourism, eco-innovations, and economic growth in ASEAN countries. To fulfil the objectives of the study, Westerlund and Edgerton (Oxf Bull Econ Stat 70:665-704, 2008) and Banerjee and Carrion-i-Silvestre (J Time Ser Anal 38:610-636, 2017) co-integration analysis have been applied to estimate the co-integration among variables because cross-sectional dependence (CSD) and slope heterogeneity was present. The short-run and the long-run empirical estimation have been done through cross-sectional auto distributive lag model. The findings provide evidence that an inverted U-shape nexus exists between carbon (CO2) emissions and economic growth in the ASEAN countries, a validation of EKC. Eco-innovations and tourism are found to be the factors that mitigate CO2 emissions. AMG and CCEMG results also confirm the robustness of short-run and long-run results. The findings of the study suggest that governments in ASEAN countries should promote tourism and eco-innovations (i.e., research and development) to mitigate CO2 emission, which poses serious threats to environmental sustainability. Also, tourism and eco-innovations are the drivers of economic growth, and growth reconciles with environmental sustainability in the selected ASEAN countries. This study provides guidelines to the policymakers while formulating the regulations related to environmental degradation.

Dynamic nexus between transportation, urbanization, economic growth and environmental pollution in ASEAN countries: does environmental regulations matter?

Prior studies on environmental standards have highlighted the significance of urbanization and transportation in affecting environmental sustainability worldwide. As the empirical and theoretical debates are still unresolved and divisive, the argument of whether urbanization, transportation and economic growth in Association of Southeast Asian Nations (ASEAN) countries cause greenhouse gas (GHG) emissions remains unclear. This study aim is to examine dynamic linkage between transportation, urbanization, economic growth and GHG emissions, as well as the impact of environmental regulations on GHG emission reduction in ASEAN countries over the years 1995-2018. On methodological aspects, the study accompanies a few environmental studies that check the cross-sectional dependence and slope heterogeneity issues. Moreover, the new cross-sectionally augmented autoregressive distributed lags (CS-ARDL) methodology is also applied in the study to estimate the short-run and long-run effects of the factors on GHG emissions. Substantial evidence is provided that GHG emissions increase with transportation, urbanization and economic growth but decrease with the imposition of environmental-related taxations. Augmented mean group (AMG) and common correlated effect mean group (CCEMG) also support the findings of CS-ARDL estimates. Finally, the study calls for drastic actions in ASEAN countries to reduce GHG emissions, including environmentally friendly transportation services and environmental regulation taxes. This study also provides the guidelines to the regulators while developing policies related to control the GHG emission in the country.

Heterogeneous impact of environmental taxes on environmental quality: Tax domain based evidence from the nordic countries by nonparametric quantile approaches

This study aims to examine the heterogeneous causality and impact of environmental taxes at both aggregated and disaggregated levels on environmental quality. In this context, the study focuses on Nordic countries as green economies; handles carbon dioxide (CO₂) emissions as an environmental quality indicator; includes aggregated and disaggregated levels of environmental taxes as explanatory variables; uses quarterly data for the period 1994/Q1-2020/Q4 as the most recent available data; applies novel nonparametric Granger causality-in-quantiles (GCQ) and quantile-on-quantile regression (QQR) approaches as the main models while using quantile regression (QR) for robustness check. The results present that (i) causal impacts of environmental taxes on CO₂ emissions exist in most quantiles at disaggregated levels excluding some lower, middle, and higher quantiles, whereas indicator-, country-, and quantile-based results vary; (ii) environmental tax on energy (ETE) has a mainly decreasing impact in Iceland, a mixed impact in Denmark, Finland, Norway, and Sweden based on quantiles; (iii) environmental tax on pollution (ETP) has the highest decreasing impact in most quantiles in Denmark, Iceland, and Norway; (iv) environmental tax in transport (ETT) has a decreasing impact in Norway and Sweden, whereas it has a reverse impact in Denmark, Finland, and Iceland; (v) impact of total environmental tax (TET) has a decreasing impact in Denmark and Norway at some quantiles, whereas an increasing impact in Finland, Iceland, and Sweden; (vi) the robustness of the QQR results are confirmed by the QR approach. Hence, the results underline the importance of country and quantile-based disaggregated analyses and Nordic countries should re-adjust environmental taxes to increase environmental quality.

Environmental regulation, digital finance, and technological innovation: evidence from listed firms in China

Environmental regulation becomes essential to corporate technological innovation amid increasing concern with environmental issues. However, a clear understanding of the specific role of environmental regulation's ex-post effectiveness is lacking. Using the panel data of Chinese A-share listed firms during 2011-2018, we examine the effects of environmental regulation on corporate technological innovation. The results indicate that environmental regulation negatively affects corporate technological innovation. With regard to digital finance, it benefits for corporate technological innovation and positively moderates the relationship between environmental regulation and corporate technological innovation. The heterogeneity analysis suggests that the negative impact of environmental regulation over technological innovation is much significant for small-scale firms, western-region firms, and firms with strong financing constraints. Furthermore, the moderating role of digital finance is more significant for firms with strong financing constraints and heavy polluting firms. We also verify the robustness of the regression results. The current study provides both theoretical support and reference to improve corporate technological innovation and promote high-quality economic development through adopting reasonable policy measures.

Effects of tourism and eco-innovation on environmental quality in selected ASEAN countries

Environmental issues have gained the attention of regulators and researchers worldwide. This present study empirically examines the validation of the environmental Kuznets curve (EKC) in the selected ASEAN economies for the period 1995-2018 in the presence of eco-innovations and tourism. This study assesses the short-run and long-run relationship between carbon dioxide emission, tourism, eco-innovations, and economic growth in ASEAN countries. To fulfil the objectives of the study, Westerlund and Edgerton (Oxf Bull Econ Stat 70:665-704, 2008) and Banerjee and Carrion-i-Silvestre (J Time Ser Anal 38:610-636, 2017) co-integration analysis have been applied to estimate the co-integration among variables because cross-sectional dependence (CSD) and slope heterogeneity was present. The short-run and the long-run empirical estimation have been done through cross-sectional auto distributive lag model. The findings provide evidence that an inverted U-shape nexus exists between carbon (CO2) emissions and economic growth in the ASEAN countries, a validation of EKC. Eco-innovations and tourism are found to be the factors that mitigate CO2 emissions. AMG and CCEMG results also confirm the robustness of short-run and long-run results. The findings of the study suggest that governments in ASEAN countries should promote tourism and eco-innovations (i.e., research and development) to mitigate CO2 emission, which poses serious threats to environmental sustainability. Also, tourism and eco-innovations are the drivers of economic growth, and growth reconciles with environmental sustainability in the selected ASEAN countries. This study provides guidelines to the policymakers while formulating the regulations related to environmental degradation.

Analysing the co-benefit of environmental tax amidst clean energy development in Europe's largest agrarian economies

The increasing human activities amidst competition for resources across the globe has made environmental challenges an ongoing classic problem, thus prompting policymakers to continually seek effective solution while ensuring sustainable development. With the wide coverage of the relevance of the double dividend hypothesis in explaining the co-benefit of environmental tax, there is a dearth of evidence in the literature to suggest that environmental tax offers green dividends for both the environment and agricultural practice in the European countries. As such, this study employed the more recent Method of Moments Quantile Regression (MMQR) alongside other approaches for Europe's largest agrarian economies (France, Germany, Italy, and Spain) over the annual period 1995-2020. The investigation affirms the validity of the co-benefit of environmental tax as far as environmental sustainability and value-added to agriculture are concerned in this panel of 'Big Four' economies, thus motivating the countries to relentlessly pursue the carbon-neutral 2050 target. Moreover, the study aligns with the expectation that renewable energy utilization and population density are desirable factors for achieving a carbon-neutral target. Lastly, the findings suggest that environmental quality is attainable in the panel, especially as increasing income surpasses a certain threshold, thus validating the environmental Kuznets curve hypothesis. Above all, the findings provide timely policy insight that accommodates both the environmental sustainability and food security framework of the European Union. The policy options relevant in light of the study's conclusions include that the decision makers in the selected agrarian economies should ramp up energy transition opportunities through a resilient environmental tax system that incentives availability of credit and investment financing in the agriculture sector.

How green finance and financial development promote green economic growth: deployment of clean energy sources in South Asia

A major issue for governments in the past few decades has been environmental deterioration caused by economic activity. Researchers are increasingly interested in the factors that contribute to environmental deterioration. This research fills the empirical gaps by looking at the influence of carbon footprints of growth and R&D investment on green finance development of renewable energy. Ordinary least square (OLS) is used in this work to assess the long-term connection between chosen variables in South Asia from 1995 to 2018. The importance of green finance, clean energy, and green financial instability have been identified as major variables. According to the study's overall findings, clean energy, green finance, and sustainable economic growth are all important and positive indicators of a composite assessment of sustainable practices. Green bonds, reducing greenhouse gas emissions, and green economic development all play an important part in green finance development and renewable energy production. The research also found that R&D expenditures had a positive and substantial influence on green finance development in South Asia, with a 1% increase in R&D expenditures lowering the sustainability of the environment by 0.070% and 0.080%. Other practical consequences for South Asia include a more suitable path toward a greener economy, as suggested by the projected findings.

SME financing role in developing business environment and economic growth: empirical evidences from technical SMEs in Vietnam

Distinguishing the significance of business environments for technical small and medium-sized enterprises (SMEs), this study examines the connection between business environments, GDP growth, and SMEs' financing choices in Vietnam. The study considered the agency theory as a theoretical base to explain how information asymmetry between SMEs and lenders influences SMEs' financing choices and encompasses the effects on business environment and GDP growth of Vietnam. For this binary logistic regression, text is applied. Global Entrepreneurship Monitor and World Bank data were analyzed. The findings of the study are robust and showed that SME financing (e.g., formal and informal) under the financial infrastructure and tax regulation may enhance formal credit choice and reduce informal credit choice. This enhances the depth in the business environment of technical SMEs and found significant effects on GDP growth. For the first time, this research examines the impact of information asymmetry and agency theory on restaurant financing choices. The research has significance for industry practitioners and governments interested in SMEs' financial viability. On the recent topicality, study also presents policy implications for key stakeholders.

The optimal industrial carbon tax for China under carbon intensity constraints: a dynamic input-output optimization model

To reduce carbon emissions, the Chinese government is considering introducing a differentiated industrial carbon tax on enterprises outside the carbon trading market in the future. An efficient carbon tax must consider not only how carbon taxes impact the current economy but also how the size of the tax should be adjusted across time due to external changes. To calculate the optimal industrial carbon tax for China which is subject to certain constraints, this paper investigates the economic and environmental effects of four possible industrial carbon tax rate models under carbon intensity constraints from 2021 to 2030 by a dynamic input-output optimization model. The results show that the dynamic tax rate model leads to larger fluctuations in GDP growth than the other tax models, with a low initial tax rate in the beginning and a high tax rate exceeding ¥180/t in 2030. Second, a large quantity of capital stock is distributed across the energy-intensive industries, which leads the existing capital investment structure to be path-dependent. This offsets the performance of carbon taxes. Third, indirect energy-intensive industries such as construction and transport are insensitive to the industrial carbon tax. Finally, comparing the impacts of the four tax rate models, the optimal industrial carbon tax for China is found to be a fixed differentiated tax rate, in which energy-intensive sectors are taxed ¥75/t and low-carbon sectors are taxed ¥50/t.

Assessment of Eco-Innovation Drivers within the Informal Sector in Ghana

Informal enterprises and their activities dominate the economy of the Sub-Saharan Africa (SSA). However, despise the increasing volume of eco-innovation research in recent years, the drivers of the eco-innovation of small medium enterprises (SMEs) in the informal sector remain largely unknown. Drawing from a triple theoretical anchoring method (entrepreneurship theory, shareholder theory, and resource theory), this study tests the validity of a set of eco-innovation drivers developed around the concept among firms of the informal sector in Ghana. The conceptual framework was tested using structural equation modeling and the data were obtained using the World Bank’s Ghana Informal Enterprise Survey (GIFS) as an area-based frame to survey 285 local entrepreneurs (n = 285). The results confirmed that informal enterprises do eco-innovate (mainly incremental innovation), and that innovation activities are driven by a government’s incentive regulations, market demand, and local entrepreneurs’ characteristic of hometown identity. This research highlights the contributions of the informal sector to sustainable development and draws the attention of policymakers, non-government agencies, and researchers on the drivers leading eco-innovation activities in the informal sector. The results could be used for future policy formulation.

Can environmental protection tax aggravate illegal pollution discharge of heavy polluting enterprises?

This paper mainly studies the impact of environmental protection tax (EPT) on the illegal emission behaviors of heavy polluting enterprises. Based on the real-time data from the nearest air monitoring points, this paper calculates the day-night difference of PM_2.5 to measure whether there are illegal emission behaviors. And, difference in difference method (DID) is used based on the quasi-natural experiment of EPT. First, the baseline DID results show that EPT reduces day-night difference of PM_2.5, and inhibits illegal emissions. Second, the influence paths results show that EPT can inhibit illegal emission by increasing innovation, environmental responsibility performance, and environmental penalty cost, and EPT aggravate illegal emissions by increasing environmental costs and environmental corruption. Third, the influence of different pollutant pricing on illegal emissions is further analyzed. The effect of air pollutant pricing on illegal emissions is inhibited first and then promoted, while higher water pollutant pricing will aggravate illegal emissions. This paper provides enlightenment on adjusting EPT policy for local governments to curb illegal emissions, and provides an economic explanation for the differences of illegal pollution discharge in different places.

The Impact of CSR on the Performance of a Dual-Channel Closed-Loop Supply Chain under Two Carbon Regulatory Policies

Under different carbon regulatory policies, corporate social responsibility (CSR) activities will have different impacts on the environmental benefits of the supply chain and corporate carbon emission reduction decisions. In this study, we examine a dual-channel closed-loop supply chain consisting of a single manufacturer selling re-products generated from waste products and a single retailer selling new products and consider two settings: enforcing a carbon tax policy or enforcing a subsidy policy. Under each setting, we put CSR into account, construct two models for the retailer to implement or not implement CSR activities, and analyze the decisions obtained under optimal solutions. Through numerical simulation and comparative research, we observe that the carbon tax policy applies to the supply chain where CSR activities are implemented, while the subsidy policy applies to the supply chain where CSR activities are not implemented. Reasonable selection of CSR implementation methods with low-cost coefficients by the retailer is conducive to eliminating profit conflicts among supply chain members. The government should fully consider the decision-making thresholds of supply chain members to ensure the maximum effectiveness of the policy.

Green Growth, Green Technology, and Environmental Health: Evidence From High-GDP Countries

Green growth is an exceptional strategy for sustainable development. It provides a pathway to combat environmental issues and the use of natural resources. This study investigates the effects of green technology and environmental factors on green growth in high-gross domestic product (GDP) countries from 2000 to 2020. In addition, it also probes the linear and nonlinear effects of GDP on green growth. To do so, we employ an advanced econometric approach, e.g., a cross-sectional autoregressive distributed lags estimator for long and short runs. The outcomes demonstrate that the linear effect of GDP is positive for green growth. On the contrary, the nonlinear effect of GDP has a negative magnitude for green growth. Besides, green technology substantially increases green growth. Energy consumption is found to be an important influencer, and it decreases green growth. Environmental factors such as emissions, according to the findings, also reduce green growth in the sample countries. It is worth noting that the joint effects of energy consumption and emissions deteriorate green growth in countries. Based on empirical findings, for policy makers, this study suggests that high-GDP countries should manage their economic and environmental activities in order to increase the amount of green growth that may protect the ecological environment.

Research and Optimization of the Coupling and Coordination of Environmental Regulation, Technological Innovation, and Green Development

Environmental regulation and technological innovation play important strategic roles in green growth, and the three systems interact and influence each other. Herein, we used a comprehensive development level evaluation model for calculating the environmental regulation and technological innovation indices for 17 cities in Shandong Province. We used the slack-based measure-data envelopment analysis (SBM-DEA) model to measure green development efficiency. The coupling coordination degree model was used to determine the coordination of environmental regulation, technological innovation, and green development; we divided the cities into three systems: green economy lagging, environmental regulation lagging, and technological innovation lagging. We used grey correlation analysis to explore the factors affecting system development. Eastern coastal cities were better developed in the three systems and the degree of coupling and coordination, like Qingdao and Weihai, and the observed level of technological innovation development, a critical factor in the coordinated development of cities, was lowest in Shandong Province. The grey correlation analysis illustrated that the level of economic development and the level of foreign economic development impacts cities labeled green economy lagging; the impact of pollutant emissions is greater than pollution control expenditure in environmental regulation lagging cities; and the government’s attention and the cultivation and attraction of talent are foundational for technological innovation in lagging cities. Considering these factors, we make recommendations for the optimal development of cities and coordinated development of regions.