Evaluating the Role of Sustainable Economic Growth on Environmental Sustainability: Fresh insights from ARDL Approach

Globalization has facilitated the development of contemporary economies and connected individuals worldwide, among other technological advancements and resource development. It is simple to overlook how rapidly industrialization and economic growth have affected biodiversity due to globalization. Unquestionably, globalization has contributed to the destruction of our world, from pollution to climate change and global warming. To verify the associations between the variables, a linear ARDL (autoregressive distributed lag) technique was applied. Results indicate that GDP and CO2 emission are related to each other in the long run, whereas the confirmation of EKC is also strongly confirmed with the sign of GDP2. Energy use and urban population are positively significant at a 1% confidence level. This means energy use deleteriously affects environmental sustainability or positively contributes to CO2 emissions in Pakistan. Comparably, the results of short -run interactions likewise show positive relationships between energy consumption and CO2 emission; nonetheless, a closer look at natural resources also reveals a negative insignificant relationship with ecological footprint effects. The growing problem of environmental pollution leads to the fluctuations in climate that are linked to emissions of greenhouse gases. To promote economic progress, the Pakistani government has to implement fresh measures to guarantee decreased CO2 emissions.