The integration of technological advancements in fossil fuels towards environmental sustainability: Insights from big data analytics

The purpose of this paper is to examine the impact of fossil fuel energy consumption and the utilization of big data technology on the green growth index of 672 companies listed on the Nasdaq in the United States. The study analyzes annual data from 2010 to 2019 using the CUP-FM (continuously updated fully modified) estimator. The findings indicate that a 1% increase in the use of big data technology results in a 1.61% improvement in the sustainable growth of these companies. Furthermore, the cost of information and communication technology is identified as the main driver of green growth. Specifically, a 1% increase in the stock price of listed companies leads to a 0.06% decrease in the sustainable growth index. Additionally, a 1% increase in the cost of fossil fuel consumption leads to a 0.034% decrease in the sustainable growth index of American listed companies. The recommended policy measures include the integration of big data technology, fintech, and cryptocurrencies, the expansion of green research and development, and the enhancement of the resilience index of companies.