Do green finance and energy prices unlock environmental sustainability in Pakistan? Fresh evidence from RALS‐EG cointegration

Green finance is a financial system arrangement that promotes the sustainable development of the ecological environment. This paper divides green finance into broad green finance and narrow green finance, and measures the scale of regional green finance based on the existing statistical data, and then uses the spatial panel measurement research method to empirically analyze the impact of green finance on economic growth. This paper divides green finance into broad green finance and narrow green finance, and measures the scale of regional green finance based on the existing statistical data, and then uses the spatial panel measurement research method to empirically analyze the impact of green finance on economic growth. Compared with the generalized green finance, the promotion effect of narrow green finance on economic growth has been reduced. Aiming at the development of corporate green internet finance, this article puts forward suggestions: perfect corporate green financial industry development policies and guarantee mechanisms; establish and improve corporate green internet finance organization and governance structure; develop and innovate corporate green internet finance products and tools.

This research investigates the role of fossil fuel energy, renewable energy, and education in terms of years of schooling and mean years of schooling on the economic growth of 19 selected Sub-Saharan African countries. The primary objective is to assess whether renewable energy and educational attainment serve as viable long-term drivers of economic development in a region still heavily reliant on fossil fuels. We employed the newly developed and robust econometric estimators, including “Residual Augmented Least Squares (RALS) co-integration”, to estimate long-term links among the facets of study. Moreover, “Pooled Mean Group–Autoregressive Distributed Lag model (PMG-ARDL) and Quantile Autoregressive Distributed Lag (QARDL)” econometric estimator was employed to estimate the long and short coefficients of the antecedents of study. The estimations obtained from the PMG-ARDL and QARDL estimators provide evidence that the coefficients of fossil fuel energy and renewable energy on economic growth are positive. But surprisingly, the magnitude of renewable energy is greater than fossil fuel energy in Sub-Saharan countries that still depend on fossil fuels. Moreover, human capital and capital stock boost economic growth in the countries studied. The outcomes reveal that not only quality but also quantity of education play a vital role in boosting economic development. To deepen the understanding of the observed effects, the study also explores the transmission channels through which renewable energy and education foster economic growth. Renewable energy contributes by lowering the marginal cost of electricity, encouraging green industrial transformation, and serving as a catalyst for technological innovation. Concurrently, improvements in education—measured by both expected and mean years of schooling—elevate labor productivity and facilitate the absorption and diffusion of new technologies across sectors, thereby stimulating sustained economic performance. The empirical results provide valuable insights for government officials and policymakers in specific Sub-Saharan African countries.

Renewable energy has emerged as a transformative and essential alternative in the global energy sector. Many countries are striving to achieve the Sustainable Development Goals (SDGs) established by the United Nations for 2030, particularly the goal of ensuring that all individuals have access to clean and affordable energy. This paper re-examines the impact of economic growth (EG), trade openness (TO), exchange rates (ER), foreign direct investment (FDI), green finance (GF), and oil prices (OL) on renewable energy consumption (REC) across 14 Southern African countries: South Africa, Botswana, Lesotho, Namibia, Tanzania, Madagascar, Mauritius, Kenya, the Comoros, Zambia, Eswatini, Rwanda, Angola, and Mozambique, during the period of 2000 to 2022. This study employed cointegration and unit root tests, as well as the RALS-EG and MMQR models, to estimate the long-run relationships among the variables. The results reveal that renewable energy consumption is positively and directly related to economic growth, trade openness, exchange rates, green finance, and foreign direct investment across all quantiles (q05–q95), with no evidence of asymmetric effects. These findings suggest that economic growth, green finance, and foreign direct investment are crucial for fostering renewable energy innovation in Southern African countries. Policymakers are encouraged to prioritize strategies that enhance these factors as a foundation for achieving sustainable energy solutions.

This study examines the relationships among green technology innovation, green financing, economic growth, and environmental sustainability in G7 countries using annual data from 1990 to 2022. It uses the cross-sectionally augmented autoregressive distributed lag model to estimate environmental sustainability through two indicators: ecological footprint and carbon dioxide (CO2) emissions. The CO2 emissions model indicates that green financing negatively affects emissions, highlighting the need to reduce them and promote sustainable practices. Conversely, energy consumption and real GDP per capita (RGDP) positively impact CO2 emissions. Green technology innovation also reduces CO2 emissions, but its short-term effects may be limited owing to initial energy consumption and regulatory challenges. The ecological footprint model demonstrates that, in the long term, green technology innovation helps lower the ecological footprints of G7 countries by promoting infrastructure development and reducing resource consumption. However, short-term constraints and high initial costs hinder this progress. Green financing is essential for achieving long-term sustainability. Energy consumption positively influences the ecological footprint, while short-term RGDP growth increases it. However, long-term RGDP may decline owing to sustainability policies, technological advancements, and effective environmental legislation. These findings underscore the importance of balanced policies that prioritise green finance in the short-term to mitigate environmental impacts while fostering long-term investments in green technology innovation. Additionally, enhancing international cooperation and aligning investments with green objectives are crucial for achieving sustainable prosperity and minimising environmental harm.

In the era of green economic development, green finance serves as a crucial catalyst for green technological innovation, and both may significantly drive the upgrading of industrial structures. This study combines green finance, green technological innovation, and industrial structure into a research framework, analyzing data from 29 Chinese provinces (2003–2020) to empirically assess their impacts on China’s industrial structure using a two-way fixed-effects model. The results show the following: first, green finance and green technological innovation can significantly promote the upgrading of China’s industrial structure directly and synergistically, a finding corroborated by various robustness tests. Secondly, heterogeneity analysis reveals that there is a “path-dependency effect” in the development of green finance and technology innovation: in areas with higher population density, more developed technological markets, and lower fiscal pressure, the synergistic promotion of the upgrading of industrial structure is stronger. Thirdly, further research indicates that green finance and technology innovation impact the upgrading of industrial structure variably under command-and-control, market-incentive, and voluntary environmental-regulation tools. The most effective policy is the voluntary regulation tool, which involves higher levels of public participation. This study offers valuable insights for fostering green technology innovation, refining environmental policies, and enhancing the optimization and upgrading of industrial structure.

On the criticality of renewable energy to sustainable development: Do green financial development, technological innovation, and economic complexity matter for China?

How does green finance affect energy efficiency? The role of green technology innovation and energy structure

Purpose. Sustainable development Goal (SDG)-2030 is an important agenda of UN. Green finance concept is a way to support sustainable development goal. This research explore concept of green finance toward green industry in India. The aim of this study how green finance help in increase of green industry in Indian region focusing on the tourism sector specifically. Methodology. The study based on empirical research structure equation model constructed with help of SPSS and AMOS software. Data collected from respondent those are related to manufacturing company and availed green finance services from financial institute. Total 576 sample collected within Indian region. Finding. The study finds that green finance awareness, incentive, initiative and technology will increase green industry. The study finds that factors of green finance industries are green marketing initiative, green finance incentive, awareness about green finance and technology innovations. Originality. The study based of five factor these are green finance marketing initiative, green finance incentive to investor, green finance awareness, green technology innovation and green investment. All these factors support green industry in Indian region and other region as well. Practical implications. The aim of the study to fids out factors which increased green industry through green finance supports. The study related to finance services for green investment for sustainable society.

Improving energy efficiency is an important pathway for the development of green and low-carbon economy. Based on the evidence from China’s green finance reform pilot zone, we apply the data of Chinese prefecture-level cities from 2005 to 2020 to analyze the action mechanism among green finance, technological innovation and energy efficiency. We find that green finance effectively promotes energy efficiency. Moreover, the analysis of action mechanism reveals that while green finance can drive green technology innovation, only high-quality green technology innovation (green invention patents) can significantly increase energy efficiency. The heterogeneity analysis reveals that green finance has a more significant effect on increasing energy efficiency in regions with large-scale economic development and weak environmental regulation. Furthermore, digital technology can amplify the driving effect of green finance on energy efficiency, and the higher the level of digital technology development, the greater the driving effect of green finance. The findings provide empirical evidence and policy implications for building a market-based green financial system and promoting green and efficient development in regions.

The role of how southern African development communities (SADC countries) can substantially mitigate carbon dioxide emission (CO 2 ) remains fathomless. In consideration of this, this research explored the correlation between government expenditure (GEXP), urbanization (URB), green finance (GFN), human capital (HC), economic growth (GDP), information and communication technology (ICT), natural resource rent (NRR), and carbon emission (CO 2 ) using panel data from 1996 to 2020. In order to estimate the interaction between the variables, this work combined the augmented mean group (AMG) s, and common correlated effect means group estimator (CC -MG) model approaches. The result of this study reveals a positive and significant association between government expenditure, urbanization, economic growth, natural resource rent, and carbon emission. In contrast, human capital and information commutation technology extensively decrease carbon emissions, while green finance shows insignificantly positive in the SADC economies. Moreover, the outcome of the Granger causality test indicates that government expenditure and urbanization have a bidirectional association with CO 2 . On the other hand, government expenditure and urbanization also have a bidirectional relationship with green finance. The Granger causality test revealed a unidirectional causality between economic growth, green finance, human capital, information and communication technology, natural resource rent, and carbon emission. Finally, this research has implications for policymakers in the SADC countries.

Since the reform and opening up, China's economic development has been rapidly changing, and has made great achievements that have attracted the world's attention. However, China's long-term implementation of the crude growth mode has certainly brought rapid economic growth, but in the long run, it has brought very serious environmental pollution and huge consumption of energy. In the face of increasingly severe resource consumption and environmental pollution, the development of green finance is an inevitable choice to improve the ecological environment, promote the transformation of economic structure and achieve sustainable economic development. Therefore, it is of great significance to study the impact of green finance on economic growth, industrial structure adjustment and energy saving and emission reduction in China, and to explore the mechanism effect of developing green finance to promote the green growth of China's economy. How to promote green sustainable development and high-quality economic growth is an important issue in contemporary Chinese economic development. Through green investment, green finance promotes the green transformation of polluting enterprises, the ecological industrial structure and green technological innovation, and thus has an important impact on the high-quality growth of China's economy. By combing the relevant literature on green finance and economic growth at home and abroad, this project systematically analyzes the comprehensive impacts of green finance on the conduction path of economic growth, based on the premise of the externalities of green finance, the micro-mechanisms of green finance's impact on economic growth, the transmission paths and the organic combination of regional heterogeneity. On the basis of empirical research, we explore the mechanism and effect of developing green finance to promote China's economic development, and put forward countermeasures and suggestions to promote economic growth with green finance at four levels: national, local government, financial institutions and enterprises.

As an essential way to promote ecological civilization, green finance is attracting wide attention. However, whether green finance can successfully regulate the green technology innovation effect of heterogeneous environmental regulations and boost green technology innovation in coordination with heterogeneous environmental regulations remains unclear. Based on the re-measurement of the green finance development index of various provinces and cities in China, this study uses the spatial Durbin model to test the above problems empirically. The results show that green finance and “market incentive” environmental regulations can promote regional green technology innovation, while “command and control” environmental regulations inhibit regional green technology innovation. Green finance plays a negative regulatory role in the mechanism of heterogeneous environmental regulations affecting green technology innovation. Green finance alleviates the negative impact of “command and control” environmental regulations on green technology innovation and weakens the positive impact of “market-incentive” environmental regulations on green technology innovation. In terms of spillover effects, green finance can effectively promote green technology innovation in neighboring regions, while heterogeneous environmental regulations have a crowding-out effect on green technology innovation in neighboring regions.

This study primarily looks at the effects of exchange rates, oil prices, and wage structures on economic growth. Additionally, their intricate relationship to economic growth will be covered in this paper. The study employs annual time series data from 1991 to 2022 (covering 31 observations). Accordingly, the data are sourced from the statistical bulletin of the central bank of Nigeria and World bank development indicators, 2022. The study employs real GDP (RGDP) as the dependent variable, which is a stand-in for economic growth, and exchange rate (REXRATE), oil price (OPR), and inflation as independent variables, which are stand-ins for exchange rate fluctuations in Nigeria. In order to empirically analyze the long-and short-term effects of exchange rates, oil prices, and wage structures on economic growth in Nigeria from 1991 to 2022, Pesaran et al. (2001) proposed the multiple Autoregressive Distributed Lag (ARDL) approach to co-integration, which was implemented using the E-Views 10 statistical software.In the short-run analysis, INFLARATE and WAGSTR have positive relationship with the dependent variable whereas EXCRATE and OILPRICE have a negative relationship with the dependent variable. However, in the Long-run analysis EXCRATE, INFLRATE AND WAGSTR have a positive relationship with the dependent variable while OILPRICE has a negative relationship with the dependent variable. Based on the strength of the findings in this study, the following recommendations were suggested: Adopt Comprehensive Exchange Rate Policies, Foster International Trade Relations, Diversify the Economy, Implement Effective Wage Policies, Promote Investment in Human Capital, etc. The findings conclude that economic stability and growth are contingent upon managing these macroeconomic variables effectively. Exchange rate volatility, oil price shocks, and wage disparities can collectively impede economic stability and growth if not appropriately managed.

Brazil's commitment to cut emissions significantly by 37% and 50% by 2025 and 2030, respectively, and reach carbon neutrality by 2050 reflects the importance of renewable energy, green finance, and technology as part of Brazil's climate strategy. This paper assesses the trilemma of financial development, renewable energy, and green technology in relation to Brazil's environmental quality, utilizing time-series data spanning 32 years (1990–2021). The autoregressive distributed lag (ARDL) framework was adopted, incorporating interaction terms between financial development and renewable energy consumption, as well as financial development and green technological innovation, to provide a nuanced perspective of how green finance is a crucial player supporting Brazil's transition toward a lower carbon economy. The results show that renewable energy consumption significantly shrinks carbon emissions in the long run, reflecting the ecological strength of Brazil's clean energy matrix, while underscoring the need to diversify beyond hydropower. Alone, financial deepening exhibits an ambiguous effect on emissions, which evidently becomes environmentally beneficial when interacted with renewable energy and green innovation, thus illustrating the enabling role of green finance policies, ESG frameworks, and targeted climate finance. Green technological innovation shows only marginal long-run improvements in environmental quality, reflecting structural gaps in Brazil's innovation system. Economic growth still increases emissions, indicating that Brazil has not yet decoupled growth from environmental degradation. Overall, the results affirm that coordinated improvement in financial development, green innovation, and renewable energy is pivotal for actualizing Brazil's climate goals and bolstering its pathway toward a sustainable, low-carbon economy.

The member states of developing-8 orD-8 organization for economic cooperation have been facing various environmental hitches posing different challenges. The interlinkages between information and communication technologies (ICT), natural resources, green finance, green innovation and environmental footprint are turning to be pivotal in this regard. This study examines the interrelationships among, natural resource rents (NRR), green technology innovation (GI), economic growth (EG), green finance (GF), and ecological footprints (EFP) in the D-8 member countries using data for the period 1995-2024. After checking data for the cross-sectional dependence (CSD), a cross-sectional augmented autoregressive distributive lag (CS-ARDL) approach is employed for the estimation. The empirical results show that natural resources increase ecological footprint. Green finance, information and communication technologies, green innovations, and technological advancements all contribute to reducing ecological footprints. The Dumitrescu and Hurlin (2012) causality testing show a one-way causal relationship between economic growth, green finance, ecological footprints, and information and communication technologies. This study incorporates new knowledge from the D-8 nations in the existing body of knowledge related to causes of environmental pollution. In addition, this study provides a benchmark by which policymakers and government institutions can evaluate their investments in the ICT, green finance, and environment-friendly technology to mitigate environmental emissions.