Abstract
Understanding how environmental restrictions affect the relationship between economic stability and unbalanced technical innovation is crucial for optimizing environmental and financial policy frameworks in developing nations to achieve sustainable development goals (SDGs). Understanding the driving effect of green funding on green development is vital for promoting economic transformation and achieving long-term green growth. Green growth is one of the most exciting new strategies for sustained economic expansion. Despite environmental technology's significance, further study is required to ascertain whether and how environmental technologies affect green development. Therefore, the purpose of this study is to examine how environmental technology may promote green growth in the G7 by reducing reliance on renewable and non-renewable energy sources. Investing in higher education is the most powerful thing a society can do intellectually if it is serious about attaining sustainability by applying skills, providing consulting, delivering training, and disseminating knowledge. Thus, the paper analyzes how the G7 countries' pursuit of green economic development is affected by economic policy uncertainty, investments in renewable energy, human capital, and health expenditure. The G7 economies' panel data from 2005 to 2021 was used to verify the assertions using the GMM estimate. Additional generalized method of moment (GMM) tests, including a one-step test and a two-step test with a robust check, are used to estimate the variables in this study. The research shows that economic policy uncertainty and health expenditure have negative effects on green economic growth, whereas investments in renewable energy, green finance, human capital, and an ageing population have favorable effects. The research findings direct the formulation of policy implications that would maintain the role of green financing as a growth engine in the Chinese economy.
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