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• Anti-ESG regulation approvals lead to positive market reactions to stocks of fuel energy firms in the affected U.S. states. • The positive market reactions are more pronounced for fuel energy firms with previously poor ESG performance and firms that are more financially constrained. • The positive market reactions are more pronounced when the anti-ESG regulation is less controversial. • Fuel energy firms observe significant post-policy increases in both institutional ownership and carbon emissions. This paper examines the effect of the anti-ESG regulations approved in 18 states from 2021 to 2023. Focusing on the fuel energy sector, we find that the regulatory intervention leads to 0.8 % to 3.5 % cumulative abnormal stock returns (CARs) around the regulation approval dates. The market reactions are found to be more positive and pronounced when the firm has poor previous ESG performance, when the firm is financially more constrained, and when the regulation is less controversial. Meanwhile, although fuel energy firms have more institutional ownership afterwards, their carbon emission also increases, indicating potential negative economic effects of anti-ESG policies. [ABSTRACT FROM AUTHOR]

In the Anthropocene era, characterized by sustainability and environmental challenges, the Metaverse emerges as a virtual alternative with the potential to reduce the ecological footprint while enhancing human experiences. However, the development of Metaverse encounter unprecedented technical, social, and ethical challenges. Bioinspired technologies, referring to those developed with inspiration from the biological world, have demonstrated successful applications across various fields and show potential in addressing challenges within the Metaverse. This paper explores the integration of bioinspired technologies with the Metaverse, focusing on its social and ethical implications. It proposes a conceptual model for a bioinspired Metaverse, elucidating how bioinspired technologies may shape the evolution of the Metaverse through four dimensions: Enhancement of User Interaction, Promotion of Digital Inclusivity, Advancement of Sustainable Development, and Guidance of Ethical Considerations. This paper makes a significant contribution by adopting an innovative context - the bioinspired Metaverse - that facilitates a deeper reexamination of the relationship among technology, nature, and human society through interdisciplinary discussion. [ABSTRACT FROM AUTHOR]