The drivers of environmental sustainability in BRICS economies: Do green finance and fintech matter?

World Development Sustainability, Journal Year: 2023, Volume and Issue: 3, P. 100096 - 100096

Published: Aug. 19, 2023

The BRICS nations have made environmental sustainability a top priority in their policies due to concerns about the negative impact of fossil fuel reliance on environment. Their dependence fuels, both for energy production and imports, has led steady increase greenhouse gas emissions over time. However, also significant potential renewable sources that can be harnessed without harming In this study, we examine how green finance (GFN) financial technology (fintech) contribute nations' goal achieving carbon neutrality from 2000 2018. We consider influence innovation, economic growth, natural resources rent. results support Environmental Kuznets Curve hypothesis indicate GFN, fintech, innovation promote sustainability. On other hand, rent, growth quality. find there is bidirectional causality between CO2 while GDP exhibit unidirectional with emissions. Based these findings, recommend countries prioritize development products expand capacity banks institutions offer credit facilities. Furthermore, more should dedicated research effectively use solutions managing associated risks.

Language: Английский

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Green finance, fintech, and environmental sustainability: fresh policy insights from the BRICS nations

International Journal of Sustainable Development & World Ecology, Journal Year: 2023, Volume and Issue: 30(6), P. 633 - 649

Published: Feb. 27, 2023

The BRICS region has considered achieving environmental sustainability a top priority in terms of policy. Environmental distress is mostly brought on by the region's continued reliance fossil fuels to supply local energy needs. Besides, historically been significant importer fuels, making it difficult substantially reduce them. As result, nations' greenhouse gas (GHG) emission rates have steadily increased over time. Moreover, offers vast untapped amounts renewable sources that may be used generate power without adversely harming environment. In light this, this paper examines combined effects green finance (GFN) and financial technology (fintech) carbon neutrality goals from 1990 2020, while controlling for innovation, economic growth natural resources rent. results economies, which are supported EKC hypothesis, suggest GFN, fintech innovation (ENI) promote sustainability. However, rent (NRR) (GDP) degrade quality. Additionally, shown bidirectional causality exists between CO2 emissions fintech, NRR. GDP ENI exhibit unidirectional with emissions. Based empirical findings, suggested countries should speed up development products expand ability banks institutions provide credit facilities, put into research usage GFN solutions.

Language: Английский

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Exploring the moderating role of financial development in environmental Kuznets curve for South Africa: fresh evidence from the novel dynamic ARDL simulations approach

Financial Innovation, Journal Year: 2023, Volume and Issue: 9(1)

Published: Jan. 4, 2023

Abstract The extant literature has produced mixed evidence on the relationship between financial development and ecological sustainability. This work addresses this conundrum by investigating development’s direct indirect consequences quality utilizing environmental Kuznets curve (EKC) methodological approach. Our empirical analysis is based novel dynamic autoregressive distributed lag simulations approach for South Africa 1960 2020. results, which used five distinct measures, demonstrate that boosts integrity sustainability over long short terms. In instance of Africa, we additionally confirm validity EKC theory. More importantly, outcomes channels increases energy usage’s role in causing pollution while attenuating detrimental impacts economic growth, trade openness, foreign investment quality. Moreover, presence an inadequate system a requirement basis haven hypothesis (PHH), examine using openness variables. PHH both these variables disappears when crosses specified thresholds. Finally, industrial value addition destroys technological innovation enhances it. research provides some crucial policy recommendations fresh perspectives as it develops national initiatives to support reach its net zero emissions goal.

Language: Английский

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Exploring the impact of geopolitics on the environmental Kuznets curve research

Sustainable Development, Journal Year: 2023, Volume and Issue: 32(3), P. 1700 - 1722

Published: Sept. 5, 2023

Abstract Environmental Kuznets curve (EKC) is one of the key theories economic and environmentally sustainable development. Has change in geopolitics recent years affected international collaboration study EKC? Based on publications EKC included Web Science, a case changes China–US conducted to explore impact geopolitical collaborative research The results show that (1) global study, countries around world have made more efforts, among which China, United States, Turkey, Malaysia, England other most contributions literature database are with development potential this field. (2) International between China States field has gradually increased, scientific two increased under influence conflicts, shown characteristics lasting stability. (3) exhibit divergent patterns, Pakistan being China's foremost partner domain, while serves as US’ primary collaborator. Furthermore, demonstrates significantly higher volume independently published works compared highlighting strengthening capabilities. number collaborating internationally shows different upward trend than across three data sets set paper. (4) In hot research, maintained good partnerships countries, preferred for world. It can be seen from represented by relative stability, not had significant

Language: Английский

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Dynamic ARDL Simulations Effects of Fiscal Decentralization, Green Technological Innovation, Trade Openness, and Institutional Quality on Environmental Sustainability: Evidence from South Africa

Sustainability, Journal Year: 2022, Volume and Issue: 14(16), P. 10268 - 10268

Published: Aug. 18, 2022

Fiscal decentralization and green innovation are important to a country’s economic progress, but the externalities of increased pollution as result rise in energy used growth must not be overlooked. The destruction environment presents serious threat human existence. South Africa, like several nations, has been working on reducing its dependence fossil fuels such coal by utilizing modern energy-efficient technologies that allow establish more carbon-neutral economy. Several attempts have made identify major sources environmental deterioration. Within Stochastic Impacts Regression Population, Affluence, Technology (STIRPAT) framework from 1960 2020, this study aims check empirically effect fiscal (FD), technological (GI), trade openness (OPEN), population size (POP), per capita GDP (GDP), squared (GDP2), institutional quality (INS), consumption (EC) carbon emissions (CO2) given fast progress country is facing problems with CO2 emission. recently developed novel dynamic autoregressive distributed lag (ARDL)-simulations used. outcomes analysis indicate (i) FD, GI, INS improve sustainability both short long run; (ii) OPEN deteriorates run, although it environmentally friendly (iii) increases emissions, whereas square contributes lower it, thus validating presence an Kuznets curve (EKC) hypothesis; POP EC contribute deterioration (iv) OPEN, POP, GDP, GDP2, INS, Granger cause medium, long, suggesting these variables influence sustainability. In light our empirical evidence, paper suggests international teamwork necessary lessen immensely critical solve growing trans-boundary decay other associated spillover consequences. Moreover, explain responsibilities at different tiers government effectively meet objectives low energy-saving expenditure functions.

Language: Английский

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Striving for the United Nations (UN) sustainable development goals (SDGs) in BRICS economies: The role of green finance, fintech, and natural resource rent

Sustainable Development, Journal Year: 2023, Volume and Issue: 31(5), P. 3657 - 3672

Published: May 31, 2023

Abstract In terms of policy, the BRICS region has prioritized achieving environmental sustainability. Environmental problems are mostly caused by area's continuous reliance on fossil fuels to meet its energy requirements. It is also challenging significantly reduce region's because historically, been a big importer fuels. As result, greenhouse gas (GHG) emission rates countries have rising over time. Furthermore, area enormous untapped reserves renewable sources that can be exploited produce electricity without negatively impacting ecosystem. light this, this research analyses, while controlling for innovation, economic growth, and natural resource rent, combined effects green finance (GFN) financial technology (fintech) in reaching carbon neutrality goals from 1990 2020. The findings economies, which consistent with EKC theory, imply sustainability promoted GFN, fintech, innovation (ENI). NRR (natural rent) GDP (economic growth) compromise quality, nevertheless. demonstrated there two‐way causal relationship between CO 2 emissions NRR. However, it ENI one‐way emissions. recommended nations speed up development products increase capacity banks institutions offer credit facilities based empirical findings. basic study how solutions might used lowering related risks should receive more funding.

Language: Английский

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Revisiting the nexus between fiscal decentralization and CO2 emissions in South Africa: fresh policy insights

Financial Innovation, Journal Year: 2023, Volume and Issue: 9(1)

Published: Feb. 2, 2023

Abstract The argument over fiscal decentralization and carbon dioxide emission (CO 2 ) reduction has received much attention. However, evidence to back this claim is limited. Economic theory predicts that affects environmental quality, but the specifics of relationship are still up for debate. Some scholars noted might lead a race top, whereas others contended it would result in bottom. In light current debates development economics, study aims provide insight into how may function South Africa from 1960 2020. contrast existing research, present uses novel dynamic autoregressive distributed lag simulation approach assess positive negative changes decentralization, scale effect, technique technological innovation, foreign direct investment, energy consumption, industrial growth, trade openness on CO emissions. following main findings: (i) Fiscal had impact short long run, highlighting presence top approach. (ii) growth (as represented by effect) eroded ecological integrity. its square expressed aided strengthening protection, validating Kuznets curve hypothesis. (iii) emissions were driven utilization, openness, value-added, innovation boosted Findings suggest further should be undertaken through devolution power local entities, particularly regarding policy issues, maintain Africa’s sustainability. also establish policies improve sustainability lower layer government clarifying responsibilities at national levels fulfill energy-saving functions expenditures.

Language: Английский

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Do natural resources and green technological innovation matter in addressing environmental degradation? Evidence from panel models robust to cross-sectional dependence and slope heterogeneity

Resources Policy, Journal Year: 2023, Volume and Issue: 85, P. 103943 - 103943

Published: July 16, 2023

Language: Английский

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Role of fintech, green finance, and natural resource rents in sustainable climate change in China. Mediating role of environmental regulations and government interventions in the pre-post COVID eras

Resources Policy, Journal Year: 2023, Volume and Issue: 88, P. 104494 - 104494

Published: Dec. 7, 2023

Language: Английский

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The dampening effect of geopolitical risk and economic policy uncertainty in the linkage between economic complexity and environmental degradation in the G-20

Journal of Environmental Management, Journal Year: 2023, Volume and Issue: 351, P. 119679 - 119679

Published: Dec. 1, 2023

Language: Английский

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