Pathways to sustainability: Evaluating the impact of green energy, natural resources, FinTech, and environmental policies in resource-abundant countries

The escalating concerns about ecological sustainability have made the consumption of resources a crucial global issue. The speedy growth of the economy is heavily reliant on excessive consumption of resources, which significantly contributes to the imbalance between biodiversity and ecological footp...

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Bibliographic Details
Published in:Resources policy 2024-10, Vol.97, p.105264, Article 105264
Main Authors: Saqib, Najia, Shahzad, U.
Format: Article
Language:English
Subjects:
CSARDL
Environmental policies
Fintech
Green energy transition
Load capacity factor
Natural resource rent
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Summary:The escalating concerns about ecological sustainability have made the consumption of resources a crucial global issue. The speedy growth of the economy is heavily reliant on excessive consumption of resources, which significantly contributes to the imbalance between biodiversity and ecological footprint, resulting in a decrease in the carrying capacity. Both researchers and policymakers strive to enhance the amount of financial capital in the present time while ensuring that the country's economic growth remains unaffected. The primary objective of this study is to analyze the impact of green energy, financial technology (FinTech), and environmental regulations on enhancing the environmental sustainability of resource-rich countries from 1992 to 2022. To address problems with cross-sectional dependency and slope heterogeneity, this study employs the CS- ARDL model. The long-term results indicate that the reliance on income from natural resources decreased the load capacity factor. However, the load capacity factor was improved by shifting to green energy, adopting fintech, and implementing environmental regulations. The utilization of the AMG and CCEMG estimate procedures enhances the validity of the research findings. These findings provide essential policy recommendations for all stakeholder involved. •Exploitation of natural resources has led to an imbalance between ecological footprint and biodiversity.•Green energy, and fintech, strengthen ecological load capacity factor.•Stringent environmental legislation enhances ecological load capacity factor.•Total natural resources rent deplete ecological load capacity factor.
ISSN:0301-4207
DOI:10.1016/j.resourpol.2024.105264