Abstract
This novel research looked into the role of public-private partnership investment in energy in affecting Pakistan’s long-term environmental sustainability. Employing time series data from 1992 to 2018 and utilizing the autoregressive distributive lag model (ARDL) model, we found a long-term equilibrium association of ecological footprint with public-private partnership investment in energy, technological innovation, economic growth, and trade openness. Our outcomes showed a significant positive association between public-private partnership investment in energy and ecological footprint in the long-run and the short-run, specifying that the increase in public-private partnership investment in energy affects the environmental sustainability of Pakistan. Similarly, our study confirmed that technological innovation, economic growth, and trade openness increase the ecological footprint in Pakistan. It demonstrates that these factors are unfavorable to the sustainable environment in Pakistan. Furthermore, robustness check findings are analogous to the results of ARDL estimates, utilizing dynamic ordinary least squares and fully modified ordinary least squares. On the basis of the research conclusions, a multi-pronged sustainable development goal (SDG) model was proposed that addresses SDG 8 and SDG 13 while incorporating SDG 17 as a medium.
Highlights
Since the 1950s, environmental degradation has been a critical danger and a continuing impediment to sustainable progress due to a variety of environmental concerns such as deforestation, resource depletion, climate change, and water losses and scarcity [1]
This study examined the impact of public-private partnership investment in energy (PPIE) and technological innovations (TI) on the ecological footprint (EF) while controlling economic growth (GDP) and trade openness (TOP) in Pakistan
The natural logarithm form of the ecological footprint, public-private partnership investment in energy, technological innovations, economic growth, and trade openness was employed in this research
Summary
Since the 1950s, environmental degradation has been a critical danger and a continuing impediment to sustainable progress due to a variety of environmental concerns such as deforestation, resource depletion, climate change, and water losses and scarcity [1]. The growing increase in greenhouse gases (GHGs) is a threat to the sustainability of the natural environment, but it has an impact on human life. The researchers examined and detailed the different environmental quality drivers and indicated how environmental performance might be improved generally. Among other things, public-private partnership investment in energy has been a prominent focus and a key driver of environmental sustainability. No definitive findings have been obtained in prior studies on the environmental quality impact of the stated parameter
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