Moving towards sustainable environment development in emerging economies: The role of green finance, green tech‐innovation, natural resource depletion, and forested area in assessing the load capacity factor

Environmental sustainability is increasingly being prioritized by governments around the world, particularly in emerging economies. This study examined the role of green finance and green technological innovation in environmental sustainability using the “load capacity factor”, also takes into accou...

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Bibliographic Details
Published in:Sustainable development (Bradford, West Yorkshire, England) West Yorkshire, England), 2024-08, Vol.32 (4), p.3004-3020
Main Authors: Anas, Muhammad, Zhang, Wei, Bakhsh, Satar, Ali, Liaqat, Işık, Cem, Han, Jie, Liu, Xuemeng, Rehman, Hamad Ur, Ali, Amjad, Huang, Min
Format: Article
Language:English
Subjects:
Augmentation
Clean technology
CS‐ARDL
Decoupling
Deforestation
Degradation
Depletion
Emerging markets
Emissions control
Environmental degradation
Environmental impact
Environmental policy
environmental sustainability
Finance
Forest degradation
Forest management
green finance
green technology innovation
Innovations
load capacity factor
Natural resources
natural resources depletion
Policies
Resource depletion
Sustainability
Sustainable development
Technological change
Technology policy
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Summary:Environmental sustainability is increasingly being prioritized by governments around the world, particularly in emerging economies. This study examined the role of green finance and green technological innovation in environmental sustainability using the “load capacity factor”, also takes into account natural resource depletion and forest cover. This study used annual data from 2000 to 2018 for emerging economies: Brazil, China, India, Indonesia, Turkey and Mexico. Methods of analysis included the cross‐section augmented autoregressive distributed lags (CS‐ARDL) model, along with validation by the common correlated mean group (CCEMG) and augmented mean group (AMG). The results show that green finance, green technological innovation and forested areas consistently have a positive impact on environmental sustainability, while resource depletion has a negative impact. The findings of CS‐ARDL are consistent with those of CCEMG and AMG. The study also makes recommendations that emerging economies need to prioritize REDD+ (Reducing Emissions from Deforestation and Forest Degradation) initiatives and implement resource decoupling policies, in addition to green finance and green technology policies, to achieve environmental sustainability.
ISSN:0968-0802
1099-1719
DOI:10.1002/sd.2833