G20 Nations Research Articles

Pursuing the Roadmaps to SDG 13: How Climate Change Technology Moderates the nexus Between Digital Finance and Environmental Sustainability

ABSTRACTGreen digital financial mechanisms, climate change technological development, and environmentally adjusted multifactor productivity through fintech and climate innovations ensure renewable energy infrastructure and climate adaptation solutions by mobilizing capital toward green projects and technologies. The study investigates the interplay between green digital finance, climate change adaptation technologies, environmentally adjusted multifactor productivity, and environmental sustainability in G20 countries from 2002 to 2021. The relationship is examined by using the Method of Moments Quantile regression (MMQR) and robustness checks performed using Bootstrap Quantile regression (BSQR), Feasible Generalized Least Squares (F‐GLS), and Panel Correlated Standard Errors (PCSE). Finally, the Dumitrescu and Hurlin (D‐H) Causality Test is performed to check the causal relationship. The outcomes reveal that green digital finance, climate change adaptation technologies, and environmentally adjusted multifactor productivity positively impact environmental sustainability. Further, the interaction term of green digital finance and climate change technologies also significantly positively impacts environmental sustainability. The D‐H causality test confirmed the bidirectional or unidirectional causal relationship, and the asymmetric causality check also validated the causal relationships among panel variables. The combination of green digital finance and climate change technologies drives environmental sustainability in G20 economies by channeling funds toward climate technologies that reduce carbon emissions, reduce vulnerability, enhance resilience, and ensure that communities cope with the adverse effects of climate change. This study suggests some fundamental policy guidelines for advancing COP‐27 commitments, which aim to ensure carbon neutrality and climate resilience by mid‐century, and SDG‐13 emphasizes taking urgent climate actions to combat its impacts in G20 nations.

Advancing sustainable development goal 8 Targets: The role of institutional Quality, economic Complexity, and state fragility in G20 nations (2000–2023)

Advancing sustainable development goal 8 Targets: The role of institutional Quality, economic Complexity, and state fragility in G20 nations (2000–2023)

Analyzing the effect of clean cooking fuel and technologies on carbon emissions in G20 countries

Growing concerns about energy scarcity and indoor air pollution have paved the way for adopting clean cooking fuel and technology at several remote locations. Realizing the immense potential of clean cooking in mitigating carbon emissions, this research explores the relationship between clean cooking fuels and technologies and carbon emissions among G20 nations. By utilizing the data from 2000 to 2020, the research employs static panel data models, including random-effect and fixed-effect regressions, and Driscoll-Kraay standard errors with fixed effects regression to address econometric challenges such as cross-sectional dependence and heteroscedasticity. The results indicate that greater access to clean cooking fuels and technology can significantly reduce emissions from CO2, highlighting the importance of Liquified Petroleum Gas and renewable energy alternatives such as biogas, and solar cookstoves in mitigating environmental damage. Additionally, the study explores the impact of several control variables such as population size, human development, internet usage, forest cover, renewable energy consumption, urbanization, trade openness, GDP per capita, and foreign direct investment on environmental degradation. The results suggest that while population growth and internet use exacerbate CO2 emissions, higher levels of human development, renewable energy consumption, and forest cover can reduce environmental degradation. The research underscores the significance of embracing clean energy solutions and sustainable practices to achieve long-term environmental sustainability and meet global climate goals.

Green Bonds for a Greener Tomorrow: Evaluating G20 Strategies in Emission Reduction and Sustainable Development

This study examines the green finance strategies of G20 economies, with a particular focus on green bond issuance and its impact on greenhouse gas (GHG) emissions. Utilizing secondary data from the Statista database and the Emissions Database for Global Atmospheric Research, the analysis employs percentage evaluation, simple linear regression, heat maps, and cluster analysis. A Python-based algorithm in Jupyter Notebook facilitates the data processing.Findings indicate that China leads in both green bond issuance and GHG emissions, followed by the United States. Regression analysis confirms that green bonds contribute to reducing GHG emissions. Notably, developed and developing countries exhibit similar patterns in green bond issuance and emissions, suggesting that these variables are not necessarily aligned with their respective development levels.This research offers a wide assessment of the interplay between green bond issuance and environmental sustainability among G20 economies, highlighting the potential of green finance in fostering sustainable and inclusive growth. The findings provide insights into areas for improvement and policy recommendations for G20 nations to enhance their green financing strategies, increase green bond issuance, and reduce emissions in pursuit of global sustainability goals.Copyright© 2025 The Author(s). This article is distributed under the terms of the license CC-BY 4.0., which permits any further distribution in any medium, provided the original work is properly cited.

Bayesian neural network modelling for estimating ecological footprints and blue economy sustainability across G20 nations

The term “blue economy” has become synonymous with generating income from maritime pursuits while protecting and improving marine environments. Oceans provide both solutions and boosts to a sustainable environment and economy, given the growing need for resources to accomplish the global food, water, and energy nexus and the rapid reduction in land-based supplies. However, the ecological footprint (EF) is one of the significant factors that may influence the sustained capacity of oceans to deliver economic and environmental value. Therefore, this study aims to investigate the impact of ecological footprints on the sustainability of the blue economy (BE) while controlling for greenhouse gas emissions (GHG), population growth (POT), and economic growth (GDP). The study applied Bayesian neural network (BNN), OLS, fixed effects, and a two-step generalized method of moments on the panel dataset of G20 countries over the period 2000 to 2021. The study shows that the ecological footprint exerts a negative influence on the blue economy, while greenhouse gas emissions, population growth, and economic growth exhibit a positive impact. This study, by realizing the importance of blue economy development in various nations, suggests that all nations must incorporate ocean strategies within their national climate pledges in order to effectively meet the sustainable development goals (SDGs), especially those outlined in SDG 14 (Life Below Water).

Natural resources heterogeneity and environmental sustainability in G20 nations: post-COP28 analysis

This study presents the maiden empirical evidence disintegrating the impacts of natural resources on environmental sustainability into production and consumption models. For easy trackability of the empirical evidence, environmental sustainability is captured by carbon emissions and ecological footprint in selected G20 economies with ta running from 1995 to 2019. To elaborate the study’s contributions, green policies comprising green energy, green technology, and green finance together with environmental tax, financial development, economic growth, and population are considered as covariates in STIRPAT embedded theoretical framework. The empirical verification anchors on second-generation estimators entailing cross-sectional autoregressive distributed lag (CS-ARDL), common correlated effects mean group autoregressive mean group (AMG), and method of moment quantile regression The fallouts from the analyses reveal that the production and consumption of natural resources based on coal and oil hinder environmental sustainability, although the former has greater effects than the latter. Interestingly, natural gas provides diverging direct and indirect impacts on both pollutants. More so, green policies and environmental taxes support promoting environmental sustainability. Additionally, two channels of causalities, including unidirectional and bidirectional nexuses, are apparent from the estimated model. The study highlights the importance of eliminating fossil fuel subsidies and making substantial investments in green policies as key recommendations for policy action.

Progress of G20 Nations on the 6th Sustainable Development Goal Under the Circular Economy Perspective

Progress of G20 Nations on the 6th Sustainable Development Goal Under the Circular Economy Perspective

RELIGION AS A DIPLOMATIC TOOL IN INTERNATIONAL RELATIONS: A MULTIFACETED INFLUENCE

Religion, as conventionally attached to the private sphere, lately plays an instrumental role in international relations. This means that, while the world becomes more global, religion serves as an instrument for a country to extend its influence, build alliances, and contribute towards the cause of peace. This paper will look at how, within the cultural, spiritual, and moral restraints of statecraft, religion functions as a tool of diplomacy to strengthen international relations. It examines the dual roles that religion plays in diplomacy as a force of coherence and division. Thus, it can mediate solutions to conflict through encouraging interfaith dialogue that then aids peace-building processes. A notable example is the G20 Interfaith Forum, where leaders from G20 nations tackle global challenges like human rights and environmental protection. At times, strategic religious narratives might also trigger ideological divisions or conflicts. This paper captures some of these instances with clear case studies, more so by India, one of the proponents of religious diplomacy. The rise of the Hindu Right has seen religion being weaved into India's foreign policy as well, appending the objective of projection of a coherent national identity and upsurge in the soft power of the country on the global front. The potential for religion to serve as a diplomatic tool is huge, but when applied it should be handled with much caution in order not to exacerbate global tensions. To conclude, the strategic use of religion presents both opportunities and challenges to diplomacy, therefore shaping international relations crucially.

How natural resource consumption, trade, energy transition, and geopolitical risk drive sustainable development in G20 nations?

AbstractThe members of the G20 have seen remarkable fiscal growth in recent years, along with a rise in the demand of consumers for energy. The G20 countries, however, use a significant amount of energy products derived from fossil fuels, which could be harmful to the sustainable development goals. This paper assesses the complex relationships between commerce, the energy transition, the use of natural resources, banking development, monetary development, geopolitical issues, and ecological deterioration. For our statistical analysis, this study employed extensive fiscal models and empirical datasets covering the years 1990–2020. The statistical findings using the Moments Quantile Regression method show that breakthroughs in finance and energy transition guarantee sustainable development. The geopolitical risk, economic expansion, and use of natural resources all contribute to the decline of ecological conditions. But trading's overall effect on the health of the world was not consistent. Our thorough empirical study makes it possible for governments to recommend effective laws to solve environmental issues.

Does economic policy uncertainty, nuclear energy, and crude oil influence CO2 emissions? A sectoral growth analysis on G20 countries.

The G20 nations collectively accounted for a significant portion of global CO2 emissions due to their vast economies and rising energy demand. While some G20 nations have made substantial efforts to reduce their emissions through policies such as renewable energy incentives and carbon pricing, others may still heavily rely on fossil fuels for energy production and industrial processes. Therefore, this recent study endeavoured to investigate the relationship between nuclear energy consumption (NEC), crude oil (CO), and economic policy uncertainty (EPU) with CO2 emissions in three economic sectors of G20 nations. Despite voluminous research work conducted on mitigating CO2 emission, to the best of our understanding, this paper marks the inaugural endeavour to investigate the impact of the afore-mentioned variables in a three-sector model with emission across G20 countries. To achieve this objective, we carried out a range of examinations, encompassing panel unit root and cointegration tests, followed by panel DOLS, ARDL, and the Dumitrescu-Hurlin causality test, spanning the period from 1990 to 2022. The findings trace that agricultural growth reduces CO2 emissions, while manufacturing and service sector growth increases CO2 emissions in both the short and long run. The panel ARDL analysis shows that CO leads to an increase in carbon emissions in the short term, whereas NEC contributes to a reduction in emissions. In terms of the synergy between NEC and EPU, it is noteworthy to mention that the collective impact of increase in NEC and decrease in EPU reduces the emission in three sectors. Nevertheless, in the long term, EPU exhibits a negative correlation with emissions across three sectors. Hence, the current research proposes waning EPU as a deliberate strategy to reduce emissions under careful consideration of its potential effects and feasibility within broader economic and policy contexts.

Building a fairer future: joint actions for poverty, hunger and inequality reduction by G20 nations

The Group of Twenty (G20) countries, representing two-thirds of the global population and 85% of gross domestic product (GDP), play a crucial role in addressing pressing global challenges, including poverty, hunger, income inequality and climate change. The 2023 Indian summit underscored the Sustainable Development Goals (SDGs), fostering a green development agenda, and reinforcing multilateralism, with a strong emphasis on technological transformation, gender equality and financial inclusion to ensure that “No One is Left Behind”. Efforts also targeted to eradicate hunger especially by promoting research collaboration on climate-resilient and nutritious grains. As the G20 prepares for the Brazil 2024 summit, the focus will shift to enhancing social inclusion, energy transitions, and reforming global governance institutions. Key priorities include promoting eradicating poverty and hunger, financial inclusion, gender equality, and multilateralism, encapsulated in the motto “Building a Just World and a Sustainable Planet”. This upcoming summit aims to foster a people-centred approach to development, emphasizing the interconnections between poverty eradication, hunger alleviation, and climate action. This article explores collaborative strategies for G20 nations to mitigate global inequalities, highlighting the historical commitment of G20 summits to these issues since the launch of the 2030 Sustainable Development Agenda. It assesses individual progress among G20 members towards these shared goals and presents selected policies that have shown promise in addressing poverty, hunger and inequality. By identifying successful country-level initiatives, the article aims to provide insights into effective, coordinated actions to tackle global disparities. Ultimately, it emphasizes that reducing inequalities is essential not only for promoting social equity but also for fostering sustainable economic and environmental practices worldwide.

Environmental Taxation and Carbon Emission in G20 Nations

Environmental Taxation and Carbon Emission in G20 Nations

Macroprudential policy and systemic risk in G20 nations

Macroprudential policy and systemic risk in G20 nations

Исследование текущего состояния цифровой экономики в Королевстве Саудовская Аравия

The article aims to examine the current state of the digital economy in Saudi Arabia, the largest country in the Gulf region. The examination of the Kingdom's digital economy involved assessing its level based on various global digital indicators, which been picked and determined in accordance with the digital economy policy principles of the Kingdom. The position of Saudi Arabia and its ranking compared to other countries, particularly the G20 nations, was studied. The national strategy aimed at enhancing economic digitalization was analyzed, along with the contribution of the digital economy to the national economy. A weighted SWOT analysis was carried out, which made it possible to deter-mine the level of the current state of the digital economy of Saudi Arabia, as well as to determine its strengths and weaknesses, opportunities and threats. As a result of the study, the authors identified the need for extensive initiatives to improve digital literacy and promote collaboration between education and the private sector, as well as targeted technical education programs, development of the local electronics industry and the development of crisis manage-ment schemes. The proposed recommendations can be used to plan and implement measures to support and accelerate the process of digitalization of the economy in the Kingdom.

Driving low-carbon mechanisms through smart investments in renewable resources and green finance initiatives among G20 nations

Driving low-carbon mechanisms through smart investments in renewable resources and green finance initiatives among G20 nations

G20 ülkeleri içinde 18 ülkenin okyanus ve deniz sağlığı performanslarının analizi: CEBM tabanlı TOPSIS yöntemi ile bir uygulama

This study investigates the critical role of G20 nations in maintaining ocean health, given the significant influence their economic activities have on global maritime ecosystems. Employing the most recent Ocean Health Index (OHI) data (2023) and the CEBM-TOPSIS Multi-Criteria Decision Making (MCDM) method, the research assesses the ocean health performance of 18 countries G20 countries. The CEBM analysis identifies biodiversity, carbon sequestration capacity, fisheries sustainability, water quality, and coastal protection as the most important OHI criteria, respectively. According to the CEBM-TOPSIS method, Russia, Brazil, and France are the top three countries with the highest ocean health performance, while China, India, and South Africa are ranked lowest among the first three countries. Notably, the average performance score indicates that Russia, Brazil, France, the United Kingdom, Australia, Mexico, South Korea, the United States, Germany, Saudi Arabia, and Canada all exceed the average. This suggests a need for improvement among G20 countries with below-average performance to ensure a more substantial contribution to the global economy and interconnected dimensions. Finally, sensitivity, comparison, and simulation analysis validate the CEBM-TOPSIS MCDM method as a reliable tool for evaluating national ocean health performance.

ICT Development Index and Its Role in the FDI - Growth Nexus: Evidence from G-20 Economies

The collective GDP of the G20 nations constitutes over 80% of the global GDP, making them pivotal recipients of significant economic investments in various forms including foreign direct investments. This study delves into the dynamic interplay of ICT development and foreign direct investment (FDI) and GDP nexus among the G20 economies. A comprehensive index is constructed using PCA to gauge ICT development across economies. The study further examines the relationships among FDI, ICT development, and GDP using panel data spanning from 2000 to 2019. The study finds that in the absence of interaction, FDI alone does not exhibit a statistically significant impact on GDP. However, considering the interaction between FDI and ICT, a nuanced pattern emerges. The study discerns that the influence of FDI on GDP is contingent upon the maturity of a country's ICT sector. This suggests the need for policymakers to adopt a more focused approach, tailoring strategies to leverage the interdependence of FDI and ICT for optimal economic growth.

Co-movements between Stock Markets and Exchange Rates: Empirical Evidence from the G20 Nations

This study investigates the relationship between stock markets and exchange rate markets in the short and long run for G20 countries by analyzing weekly stock market returns and exchange rates from January 2008 to March 2023. This study uses the CD test for testing cross-sectional dependence in all the panel series, and unit root tests are employed to verify the stationarity properties of variables. Based on the above results, the panel ARDL model and PMG estimator are used to establish the long-run and short-run cointegrating relation between the stock and exchange rate markets. We have found a stable positive relationship between the stock markets and the exchange rate of G20 countries in the long run, but a negative association was found in the short run. These findings highlight the intricate dynamics between stock markets and exchange rates and the interconnectedness of G20 nations. The robust positive long-term correlation and the short-term negative association exhibit the differential impacts of macroeconomic variables over varying time horizons

Assessment of green development level performance in G20 countries: A dynamic evaluation framework

Assessment of green development level performance in G20 countries: A dynamic evaluation framework

Global power and Stock market co-movements: A study of G20 markets

Global power and Stock market co-movements: A study of G20 markets