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Financial development as a viable tool in nation-building and economic expansion is generally established in growth empirics. That notwithstanding, its roles in the drives towards environmental sustainability have received commending and reprimanding views in recent times. However, empirical study advancing the asymmetric effects of financial development from the broader view of measures seems limited and evolving. Hence, the present study investigates the positive and negative effects of financial development measured by broad money and domestic credit to the private sector on environmental sustainability (CO2 emissions and ecological footprint) in the Emerging Seven (E7) economies from 1995 to 2019. The empirical evidence considers the intervention of government policy through fiscal policy instruments (government spending and tax revenue), eco-digitalization, affluence, and population growth in a STIRPAT framework. The main analyses focus on advanced estimators such as pool mean group, mean group, dynamic fixed effects, and panel quantile regression. Feedback shows that negative shocks from financial development captured by broad money induce more surges in CO2 emissions. Similarly, the negative shocks from domestic credit to private sectors promote CO2 emissions, while the positive shocks moderate the emissions. The findings also uncover eco-digitalization as a viable tool to achieve environmental sustainability in the E7 economies. Furthermore, the measures of fiscal policy have differing impacts on environmental sustainability as evident from the positive and negative signs attributed to government expenditure and tax revenue. Moreover, affluence and population growth exacerbate CO2 emission surges. Policy insights that drive environmental sustainability are suggested based on the findings. [ABSTRACT FROM AUTHOR]

The G7 nations is a major global consumers of natural resources and energy. These nations are confronted with substantial obstacles in their pursuit of sustainable growth through energy transition, while upholding their status as global economic leaders. As a result, this current study conducted an aggregated and disintegrating analysis on the heterogeneous role of green energy innovation on energy transition in G7 nations. Green energy innovation was disintegrated into hydro, solar and wind energy. Moreover, the heterogeneous effects of green innovation in solar, hydro and wind on energy transition was investigated, an analysis that has not been previously examined. For the econometric estimation, we adopted the Quantile-on-Quantile Regression (QQR) and the quantile causality method. The results of the QQR indicates that the positive role of green energy innovation on energy transition in all of the G7 nations. However, this positive role is more dominant in five G7 nations, namely Italy, Germany, Japan, the UK and the USA. Additionally, the result also highlights that the connection between green energy innovation and energy transition is differs across the various quantiles for different nations. Moreover, the quantile causality analysis indicates that green energy innovation has the potential to predict future values in energy transition within the G7 nations. The study emphasizes various policy considerations for promoting energy transition through green energy innovation in G7 nation, which help realizing sustainable development. [ABSTRACT FROM AUTHOR]

Limiting CO2 emissions is crucial for sustainable development, environmental protection, and climate change mitigation, ensuring a more resilient and cleaner future. Prioritizing sustainable urbanization renewable energy, and energy efficiency is vital for achieving this prosperous and sustainable future. As a result, we adopt the Fourier testing approach for stationary, cointegration, estimator, and causality, to scrutinize the role of renewable energy, energy efficiency, and urbanization on CO2 emissions in Finland over the period between 1990 and 2020, controlling economic growth and trade openness. The empirical analysis of the Fourier ARDL estimator establishes that energy efficiency measures such as gas and oil efficiency exhibit an adverse effect on CO2 emissions, so energy efficiency mitigates CO2 emissions. Similarly, the study also found that urbanization and renewable energy reduce CO2 emissions. Conversely, economic growth and trade openness induce CO2 emissions. Additionally, the Fourier-Toda-Yamamoto method provides robust evidence regarding the long-term implications of the examined factors. Based on this result, the study emphasizes that implementing a regulatory framework to enhance energy efficiency, promote renewable energy adoption, and support sustainable urban development will be an essential strategy in the global effort to attain the net-zero emissions target, which offers valuable insights to other countries seeking to transition towards cleaner and more sustainable energy sources. [ABSTRACT FROM AUTHOR]

Escalations in economic development and the concomitant upsurge in social globalization (SG) in the largest economies have enhanced the utilization of fossil fuels, which in turn has stimulated carbon dioxide (CO2) emissions. Given that reducing global warming is one of the essential means to disrupt climate change and attain sustainable development, this study examines the interlinkages between SG, energy transition (ENTR), international tourism (ITU), and CO2 emissions. As environmental issues are widespread in the largest economies, this investigation analyzed the data from the 10 largest economies using the Method of Moments Quantiles Regression (MM‐QR) from 1995 to 2020. The study found that ENTR plays a significant role in decreasing emissions and promoting environmental sustainability. Alongside this, increasing social globalization also curbs CO2 emissions and facilitates environmental sustainability. Apart from this, the findings demonstrate a progressively increasing contribution of ITU and economic growth to enhancing environmental degradation. Furthermore, results indicated that carbon emissions are not influenced by reductions in political risks in the member nations. Finally, policies to support environmental sustainability are discussed. [ABSTRACT FROM AUTHOR]