The role of green growth, green financing, and eco-friendly technology in achieving environmental quality: evidence from selected Asian economies

Synergistic effects of selenium and zinc on Bletilla striata (Thunb.) Reichb. F. growth and polysaccharide antioxidation

Selenium (Se) is a beneficial trace element for plants, while zinc (Zn) is a vital micronutrient. Bletilla striata (Thunb.) Reichb. F. is widely recognized as a medicinal herb. In this study, Se and Zn were introduced to determine the medicinal properties of B. striata. The plant's biomass, polysaccharides, Se and Zn contents, and the antioxidant properties of polysaccharide solutions were all examined. A notable increase in polysaccharide synthesis in B. striata tubers was observed following the application of 0.2 kg ha-1 of Se, and 1.0 kg ha-1 of Zn, either individually or in combination. Se and Zn content in polysaccharides were 3.33 to 3.77 mg kg-1 and 82.82 to 121.78 mg kg-1, at 1.0 kg ha-1 Se and 10.0 kg ha-1 Zn treatments, respectively. These values were 2.1-3.1 times and 1.8-2.8 times higher than those observed in control samples. Polysaccharide antioxidation has resulted in an increase in antioxidant activity as the concentration of polysaccharide solutions increased. The largest scavenging of 1, 1-diphenyl-2-picrylhydrazyl (DPPH) radicals and the most excellent reducing power of the polysaccharide solutions were observed when a mixture of Se and Zn was applied at a rate of 1.0 kg ha-1 and 10.0 kg ha-1. The individual application of Se at 1.0 kg ha-1 and Zn at 10.0 kg ha-1 also resulted in significant DPPH radicals scavenging and reduced power. These data suggested that Se-Zn enriched B. striata is a new source of Se and Zn supplementation and an antioxidant resource.

Could Africa leapfrog to a low-carbon future? Evidence on the nexus between environmental tax, foreign direct investment, resource dependence, and technological progress

The devastating impact of climate change has intensified discussions on balancing sustainable economic growth with environmental sustainability achievement. To contribute to the discourse, this study explores how environmental tax, foreign investment, natural resource (NRR), and technological innovation impact Sub-Saharan Africa's efforts towards a low-carbon future. Using data from 1995 to 2019 and advanced methodologies (Cross Sectional Augmented Autoregressive Distributed Lag, and Method of Moments Quantile Regression), the results showed that environmental taxes effectively minimize carbon emissions. FDI in the short run causes carbon emissions to rise slowly but causes a significant reduction in the long run. An increase in natural resources rent was found to cause damage to the environment significantly while technological innovation in the long run demonstrates a significant reduction in carbon emissions. The MMQR results confirm environmental tax significantly reduced CO2 emissions in all the quantiles. FDI and Technology in the long run cause a reduction in CO2 emissions while natural resource rent causes environmental destruction in all the quantiles. We recommend that policymakers introduce more carbon tax policies, establish sub-regional carbon offset markets, and prioritize the development of clean energy infrastructure.

Unlocking sustainable futures: Exploring the non-linear linkages between green finance and environmental sustainability in developing countries

In an era characterized by growing environmental concerns and the urgent call for climate action, the role of green finance in addressing ecological sustainability has become a subject of paramount importance. Owing to this need, the current study examines the nonlinear relationship between green finance and environmental sustainability in 51 developing countries from 2000 to 2022. We employ various advanced panel estimation techniques, including Driscoll-Kraay standard errors (D-K), Feasible generalized least squares (FGLS), Generalized linear model (GLM), and System GMM to examine the long-run impact of this association. The results are further validated using a unique bootstrap quantile approach as a robustness check. We find a nonlinear inverted U-shaped relationship between green finance and environmental sustainability. We extend our analysis to lower-income and lower-middle-income countries and see that this nexus is stronger in middle-income countries than lower-income ones. Our findings also confirm the green finance based-EKC across the sub-samples of lower- and lower-middle-income countries. We also document that this nonlinear relationship is weak during the COVID-19 pandemic. This underscores the complexity of the investigated nexus, emphasizing the need for tailored strategies to foster a sustainable environment in developing economies.

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.

From black to green: Quantifying the impact of economic growth, resource management, and green technologies on CO2 emissions

In an exploration of environmental concerns, this groundbreaking research delves into the relationship between GDP per capita, coal rents, forest rents, mineral rents, oil rents, natural gas rents, fossil fuels, renewables, environmental tax and environment-related technologies on CO2 emissions in 30 highly emitting countries from 1995 to 2021 using instrumental-variables regression Two-Stage least squares (IV-2SLS) regression and two-step system generalized method of moments (GMM) estimates. Our results indicate a significant positive relationship between economic growth and CO2 emissions across all quantiles, showcasing an EKC with diminishing marginal effects. Coal rents exhibit a statistically significant negative relationship with emissions, particularly in higher quantiles, and mineral rents show a negative association with CO2 emissions in lower and middle quantiles, reinforcing the idea of resource management in emissions reduction. Fossil fuels exert a considerable adverse impact on emissions, with a rising effect in progressive quantiles. Conversely, renewable energy significantly curtails CO2 emissions, with higher impacts in lower quantiles. Environmental tax also mitigates CO2 emissions. Environment-related technologies play a pivotal role in emission reduction, particularly in lower and middle quantiles, emphasizing the need for innovative solutions. These findings provide valuable insights for policymakers, highlighting the importance of tailoring interventions to different emission levels and leveraging diverse strategies for sustainable development.

Market or regulation? The competition effect between green finance and environmental enforcement on environmental quality and its "dominate-follow" pattern

Current research on environmental instruments often isolates the two mainstream types, market-based and regulation-based, overlooking their real-world interactions. In response, the intensity gap variable (EII_GAP) is constructed to link various instruments into a united system. Thus, based on the spatial econometrics of the spatial panel Durbin model (SPDM), the collective effects between market- and regulation-based environmental instruments on environmental quality are explored. Moreover, the political strategies for maximizing environmental benefits are discussed. Results show that the interaction pattern between market- and regulation-based environmental instruments on environmental quality is characterized by competition rather than cooperation. A unit widening in the intensity gap leads to 17 to 18% and 12 to 18% units of environmental quality improvement in local and adjacent areas, respectively. Furthermore, the "dominate-follow" approach as the most effective mode for maximizing environmental effects is proposed. This study recommends employing one type of instrument as the dominant while the other as the auxiliary. In provinces where one kind of environmental instrument takes domination, the environmental quality could be increased by around 8 to 113% after taking another contrary instrument as the auxiliary.

From brown to green: are Asian economies on the right path? Assessing the role of green innovations and geopolitical risk on environmental quality

Preserving the sustainability of the natural environment has emerged as a critical focus on policy agendas worldwide. Therefore, this study examines the relationship between environmental quality and key determinants, focusing on geopolitical risk (GPR), green innovations (GI), economic growth, FDI, renewable energy consumption, and urbanization. Dataset is used for the time period of 1990-2020 across selected Asian economies including China, India, Japan, Malaysia, and South Korea. Using load capacity factor (LCF) as a comprehensive proxy for environmental quality, the research utilizes panel quantile regression (QR) to provide empirical outcomes. Results of panel QR method reveal a negative impact of economic growth and GPR on LCF. On the other hand, green innovation, FDI, and renewable energy are found as supportive factors to boost environmental quality. In addition, urbanization also shows positive linkage with LCF. The application of Fully Modified Ordinary Least Squares (FMOLS) and Dynamic Ordinary Least Squares (DOLS) further validates the robustness of the findings. Adoption of green innovations, practicing sustainable growth patterns, transition toward cleaner energy practices, and integrated urban planning are advocated to enhance environmental quality among Asian nations. Based on empirical findings study suggests comprehensive policy measures that can help in achieving sustainable development goals (SDGs) including SDG-7 (energy efficiency), SDG-8 (sustainable economic growth), SDG-11 (sustainable cities), and SDG-13 (climate action) among Asian countries.

Effectiveness of energy depletion, green growth, and technological cooperation grants on CO2 emissions in Pakistan's perspective

According to Nationally Determined Contribution (NDC), Pakistan proposed to set a very ambitious conditional objective of an overall 50 % reduction in anticipated emissions by 2030, with 15 % coming from domestic resources and 35 % contingent on international grant financing, which would entail USD 101 billion just for the energy transition. Due to this consideration, the current study examines the impact of energy depletion, green growth, technological cooperation grants, and labor force on CO2 emissions in Pakistan for 1990 to 2020. This research used the STIRPAT framework and novel dynamic ARDL techniques. Additionally, a robustness check is also carried out using Kernel-based regularized least squares (KRLS) and the Granger causality approach is utilized to establish cause-effect relationships. The findings indicate that energy depletion leads to environmental contamination in the long run. In contrast, Green growth is reducing environmental contaminations in the long run. Furthermore, we found that technological cooperation grants also decline environmental contamination in the short run. Likewise, the Labor force dwindles CO2 emissions in the long run. According to Granger causality, there is bidirectional causality between GG↔CO2, and TCG ↔CO2, while there is one-way causality between END→CO2 and CO → LF. The findings show that policymakers should emphasize on the transition to green growth with extensive investment in technological innovations, so the country can achieve its CO2 reduction targets.

Greening the economy: how culture values shape environmental policies in America and Europe

This research explores the theory that cultural factors shape how people feel about the environment. Both theoretical and empirical approaches are used in our investigation of this problem. In the theoretical part of the study, we provide a model for transferring cultural practices from one generation to the next. To provide empirical evidence for the existence of this cultural factor in environmental views, we analyze survey data from the European Values Research. Using a comparative method, we use differences caused by migration patterns in Europe and America. According to our research, cultural influences on migrants' ecological beliefs are long-lasting and statistically significant. Variations in migrants' environmental views may be traced back to societal norms that endure in their home countries. We also demonstrate that ecological views are robust in the face of incentives originating from the external environment, demonstrating that migrants' choices in the host nation are not much influenced by the environmental circumstances they were exposed to in their home countries. We uncover fascinating variations in the cultural transfer procedure, and our results hold up under various hypotheses. These findings suggest that, in light of the prevalence of ecological problems requiring community action, it is crucial to formulate policies that consider the factors that led to the development of ecological cultures.

Is green FinTech reshaping the finance sphere? Unravelling through a systematic literature review

The revolutionary and transformative potential of FinTech has led to the Green Digital Finance Alliance, noting the dawn of a new era of FinTech-"the green FinTech", yet, surprisingly, the scholarly exploration surrounding climate finance in general and green FinTech and climate FinTech remains restrained. In our attempt to decode the intricate interlinkage between green finance and FinTech, the study wrestles with the theoretical complexity of the "green FinTech" concept through a systematic review of relevant studies and conceptual mapping. We develop a comprehensive grasp of the concept, how to leverage it to combat the pressing climate crisis, and its implications for the FinTech segment-the first of its kind in the scanty green FinTech literature. Based on the PRISMA analysis, we find that green FinTech promotes a green economy through its manifold impact on all aspects of the finance sphere, thereby channelling climate finance and promoting sustainability. It has the power to heighten inclusivity, disclosure, trust, and democratisation, thus reducing information asymmetry and greenwashing. Hence, FinTech integration can be game-changing in eliminating the hurdles before conventional green finance. However, the literature remains fragmented, along with a young, growing green FinTech market. Therefore, this study proposes a framework for future researchers by providing a holistic research agenda to fully integrate "green FinTech" into practical real-world applications.

Role of green financing in developing sustainable business of e-commerce and green entrepreneurship: implications for green recovery

The present study examines the impact of green financing on the development of sustainable businesses operating in the e-commerce and green entrepreneurship sectors. The findings of this research have potential implications for promoting green recovery. The research primarily examines the issue of financing constraints that impede the growth and long-term viability of green businesses, with a specific focus on low-income countries and emerging economies. This study employs panel data from 2010 to 2020, encompassing multiple countries, and utilizes an econometric model to examine the association between green financing and the advancement of sustainable enterprises. The study's findings illustrate the favorable effects of green financing on the expansion and long-term viability of e-commerce and green entrepreneurship. The analysis demonstrates that the availability of green financing plays a substantial role in facilitating the advancement of business models that prioritize environmental sustainability. This, in turn, supports promoting a green recovery and facilitates sustainable economic development. The study emphasizes the significance of customized financial assistance mechanisms that cater to the distinct requirements and attributes of the e-commerce and green entrepreneurship industries. The findings emphasize the capacity of green financing to facilitate the shift toward a more sustainable and ecologically aware economy. The findings of this study hold considerable implications for policymakers, financial institutions, and entrepreneurs operating in low-income countries and emerging economies. It offers valuable insights into the crucial role that green financing plays in fostering the development of sustainable businesses and facilitating initiatives aimed at achieving environmental recovery.

The influence of green finance availability to retailers on purchase intention: a consumer perspective with the moderating role of consciousness

As the global warming crisis is increasing daily, it is crucial to find ways to reduce the carbon footprint generated by activities like the production, consumption, and distribution of goods and services. This empirical study has looked at one approach through which environment-friendly production and consumption can be encouraged. The developed model has studied the relationship between retailers' access to green finance and consumer purchase intention of green products by incorporating the role of environmental, status, and future consciousness. Theoretical foundations for this model have been taken from the theory of planned behaviour (TPB) and theory of reasoned action (TRA), which have extensively discussed the role of consciousness and societal norms while making purchase intentions. To gain insights about the purchasing behaviour of consumers, this study collected data from the Jiangsu province of China, where a non-probability convenience sampling technique was used to distribute a questionnaire to 400 respondents between February 2022 and August 2022. The collected data was analysed using Structural Equation Modeling (SEM) in SmartPLS in order to study the relationship between independent and dependent variables. Results of this study show that retailers' access to green finance positively impacts consumer purchase intention towards green products, and adding a consciousness perspective in the model strengthens this relationship. Moreover, the theory of planned behaviour and the theory of reasoned action were validated through this study, providing insights for policymakers on the importance of promoting green finance to influence green product purchase intention. Overall, this study shows that policymakers should give green financing to retailers and environmental and future awareness to consumers to encourage environment-friendly behaviour.

Effect of green finance reform and innovation pilot zone on improving environmental pollution: an empirical evidence from Chinese cities

Under the strategic deployment of dual carbon goals, China has entered the stage of high-quality development of low-carbon economic transformation. Green finance is an important tool to provide financing support for the development of green low-carbon projects and prevent environmental and climate financial risks. Whether and how it can help the implementation of the dual carbon goals is worth pondering and studying. Based on this background, this study considers the green finance reform and innovation pilot policy zone jointly issued by the Central People's Bank of China, National Development, and Reform Commission in 2017 as a natural experiment. Based on the panel data of 288 cities nationwide from 2010 to 2019, the effect of emission reduction is estimated using the PSM-DID method. The following conclusions are drawn: (1) The green finance policy has effectively improved the city's environmental quality, and the pilot effect of green finance has a certain lag on SO₂ emissions and industrial smoke (dust) emissions; (2) the mechanism inspection shows that the policy mechanism has promoted the technological innovation level, sewage treatment capacity, and garbage harmless treatment capacity of the pilot area to a certain extent; and (3) the impact of green finance policy on environmental quality has regional and industrial characteristics heterogeneity. The green finance pilot policy in eastern and central regions will inhibit SO₂ emissions, but the emission reduction effect in western regions is not significant; The implementation of the pilot policy of the green financial reform and innovation pilot zone has significantly reduced the sulfur dioxide emissions of the old industrial base cities, but the effect of the policy on non-old industrial bases is not obvious. The research conclusion has important enlightenment significance for further improving the construction of financial system, promoting the green transformation of regional industry, and improving the quality of urban environment.

Can artificial intelligence achieve carbon neutrality? Evidence from a quasi-natural experiment

Introduction

As the global climate crisis worsens, carbon neutrality has attracted the attention of various nations.

Methods

Based on panel data from 282 Chinese prefecture-level cities from 2008 to 2019, this research considers the execution of the artificial intelligence strategy as a quasi-natural experiment. It uses the difference-in-differences (DID) model to evaluate the effect of artificial intelligence construction on carbon emission reduction.

Results

The findings indicate that implementing the artificial intelligence strategy into practice can lower carbon emissions and advance carbon neutrality, and this conclusion still passes after various robustness tests. The mediating effects reveal that developing green technologies and upgrading the industrial structure are crucial mechanisms for achieving carbon neutrality. The implementation effect varies with time, geographical location, natural resource endowment, and city level.

Discussion

This article examines the influence of artificial intelligence on urban carbon neutrality at the city level, adding to the notion of urban carbon neutrality and providing research support for urban development transformation.

The role of economic growth, information technologies, and globalization in achieving environmental quality: a novel framework for selected Asian countries

This study examines the impact of information and communication technologies (ICT), GDP growth, population, and globalization on the environmental quality of 31 Asian economies (i.e., categorized as lower middle-income, upper middle-income, and high-income groups Asian economies). This analysis employed the time series data from 1990 to 2018. The robust second-generation econometric technologies are used in this analysis. This study applied the Environmental Kuznets curve (EKC) premises under the extended "STIRPAT model" to add population and GDP (per capita) and information technologies (ICTs) by employing ecological footprint. To estimate, the estimators of this study used the CS-ARDL estimates, and for robustness check, this study used the augmented mean group (AMG) test. The co-integration test found the long-run association between ecological footprint and its main determinants. The results of CS-ARDL have confirmed the imperative role of information technologies in mitigating the ecological footprint in the higher, upper-middle, and lower-middle-income economies of Asian economies. The statistical findings of this study are robust to diagnostic tests and alternative estimation proxies and techniques. Moreover, policymakers need to identify the direction of the information technology-ecological footprint nexus through cooperation in combating climate change with financial assistance in the ICT sector.

Exploring the moderating effect of globalization, financial development and environmental degradation nexus: a roadmap to sustainable development

Financial development is a multidimensional process that contributes to economic growth but sometimes it has a devastating effect on climate change. No country can achieve sustainable development goals without caring the environmental quality. The present study investigates the moderating role of globalization (KOF) in determining the financial development (FD) on environmental degradation in the SAARC countries from 1990 to 2020. The long-run coefficients are estimated using the panel quantile regression (PQR) approach at lower, middle and upper quantile groups. The study shows the U-shaped relationship across three quantile groups based on financial development and carbon emissions. The moderator globalization (KOF) brings up the change in the turning point and flattens before the maturity of the U-shaped curve at the middle quantile while flattens after the maturity of the U-shaped curve at the upper quantile. The study recommends that by using energy-efficient technologies, better financial sector interaction with globalization enhances the environmental quality in SAARC countries.