The role of natural resources, fintech, political stability, and social globalization in environmental sustainability: Evidence from the United Kingdom

Abstract

Numerous studies illustrate that natural resources, financial technologies, social globalization, and political stability are essential factors that influence environmental sustainability. Therefore, researchers in developed nations must explore these interconnections further, mainly when these nations focus on achieving net zero emissions targets. The present analysis illuminates the connotations among natural resources, political stability, fintech, social globalization, and CO2 emissions in the UK. The current analysis has taken the time frame, 2000Q1 to 2021Q4, and employed the latest approach, i.e., the bootstrap ARDL technique, for estimation. The empirical results revealed that natural resources and social globalization are escalating CO2 emissions. Nonetheless, political stability and fintech lead to decreased CO2 emissions in the specific case of the selected developed nation. The present analysis confabulates an uni-directional connotation between all the chosen economic indicators and environmental degradation in the UK. As per the observed empirical outcomes, developed nations must initiate policies and programs to utilize natural resources efficiently without compromising environmental sustainability. In addition, governments in developed nations should encourage financial technologies and political stability to promote ecological sustainability.