Investigating the impact of financial development on carbon emissions: Does the use of renewable energy and green technology really contribute to achieving low-carbon economies?

被引:18
|
作者
Habiba, Umme [1 ]
Cao, Xinbang [1 ]
Ali, Shahid [1 ]
机构
[1] Nanjing Univ Informat Sci & Technol, Sch Management Sci & Engn, 219 Ninglu Rd, Nanjing 210044, Jiangsu, Peoples R China
关键词
Renewable energy; Financial development; Green technology; Emerging countries; ENVIRONMENTAL DEGRADATION EVIDENCE; CO2; EMISSIONS; EKC HYPOTHESIS; KUZNETS CURVE; CONSUMPTION; PANEL; GROWTH; INNOVATION; QUALITY; OUTPUT;
D O I
10.1016/j.gr.2023.05.013
中图分类号
P [天文学、地球科学];
学科分类号
07 ;
摘要
Global warming has become one of the most serious and hotly debated global issue in recent years, despite increasing international agreements requiring urgent action. Therefore, many countries are striv-ing to achieve carbon neutrality. To achieve decarbonization, renewable energy and green technologies can play a significant role. Thus, it is worth noting the connection between renewable energy consump-tion, green technology, and carbon emissions. We explore the effects of financial development (FD), renewable energy consumption, and green technology on carbon emissions (CE) in seven emerging coun-tries between 1990 and 2020. To assess the empirical data, a wide range of econometric techniques from second-generation were employed, including cross-sectional dependence test, heterogeneity test, Westerlund cointegration test, augmented mean group (AMG) heterogeneous panel estimator, and Panel Granger causality test. The empirical findings revealed that FD increases the level of CE, which results in environmental degradation. In contrast, renewable energy usage and green technology decline CE in the long-run. Furthermore, when combined with renewable energy, FD tends to be less detrimental to the environment. The findings also unveiled that FD improves environmental quality through the green technology channel. The findings of causality tests demonstrated that policies related to renewable energy and green technology will affect carbon emissions in one direction, but not in the other. Our out-comes have significant implications. Our recommendation is to promote green technology and renewable energy usage, especially in emerging economies. By doing so, we will be able to attain the sustainable development goals.& COPY; 2023 International Association for Gondwana Research. Published by Elsevier B.V. All rights reserved.
引用
收藏
页码:472 / 485
页数:14
相关论文
共 50 条
  • [31] Breaking barriers to low-carbon development in Indonesia: deployment of renewable energy
    Sambodo, Maxensius Tri
    Yuliana, Chitra Indah
    Hidayat, Syarif
    Novandra, Rio
    Handoyo, Felix Wisnu
    Farandy, Alan Ray
    Yuniarti, Putri Irma
    Yuniarti, Putri Irma
    [J]. HELIYON, 2022, 8 (04)
  • [32] Greening regional development: employment in low-carbon and renewable energy activities
    Allan, Grant
    McGregor, Peter
    Swales, Kim
    [J]. REGIONAL STUDIES, 2017, 51 (08) : 1270 - 1280
  • [33] Confirmation of carbon emissions in coal mining areas and research on low-carbon green development path
    Meng, Wang
    Ruying, Ma
    Xuguang, Dai
    Yadi, Shan
    [J]. Meitiandizhi Yu Kantan/Coal Geology and Exploration, 2021, 49 (05): : 63 - 69
  • [34] Analyzing the Impact of Renewable Energy and Green Innovation on Carbon Emissions in the MENA Region
    Albaker, Abdullah
    Abbasi, Kashif Raza
    Haddad, Akram Masoud
    Radulescu, Magdalena
    Manescu, Catalin
    Bondac, Georgiana Tatiana
    [J]. ENERGIES, 2023, 16 (16)
  • [35] Toward low-carbon emissions and green growth for sustainable development in emerging economies: Do green trade openness, eco-innovation, and carbon price matter?
    Tariq, Muhammad
    Xu, Yingzhi
    Ullah, Kifayat
    Dong, Biying
    [J]. SUSTAINABLE DEVELOPMENT, 2024, 32 (01) : 959 - 978
  • [36] Pilot policies for low-carbon cities in China: a study of the impact on green finance development and energy carbon efficiency
    Gao, Jiazhan
    Hua, Guihong
    Huo, Baofeng
    Randhawa, AbidAli
    Li, Zilian
    [J]. CLIMATE POLICY, 2024,
  • [37] Does the low-carbon transition promote the ESG disclosure of renewable energy enterprises?
    Hu Wang
    [J]. Environmental Science and Pollution Research, 2023, 30 : 91369 - 91376
  • [38] Does the Chief Executive Officer Green Experience Contribute to the Low-Carbon Transition of the Organisation?
    Xiong, Xiaoliang
    [J]. ECOLOGICAL CHEMISTRY AND ENGINEERING S-CHEMIA I INZYNIERIA EKOLOGICZNA S, 2024, 31 (02): : 215 - 224
  • [40] The cyclical impact of green and sustainable technology research on carbon dioxide emissions in BRICS economies
    Khattak, Shoukat Iqbal
    Ahmad, Manzoor
    [J]. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH, 2022, 29 (15) : 22687 - 22707