Technological innovations, renewable energy, globalization, financial development, and carbon emissions: role of inward remittances for top ten remittances receiving countries.

Asides from renewable energy consumption, technological innovation and remittances are mostly ignored as critical tools and resources that can be adopted to ameliorate environmental worries, even when remittances have more considerable resource inflow than official development aids. Based on this information, the current research investigates the implications of technological innovation, remittances, globalization, financial development, and renewable energy on CO ₂ emissions in top remittances-receiving countries from 1990 to 2021. To obtain reliable estimates, we use a battery of advanced econometric techniques and method of moments quantile regression (MMQR) method. The AMG results suggest that innovation, remittances, renewable energy, and financial development alleviate CO ₂ emanations, whereas globalization and economic growth worsen environmental sustainability by increasing CO ₂ emissions. Besides, the MMQR results confirm that renewable energy, innovation, and remittances decrease CO ₂ emissions across all quantiles. A bidirectional causality exists amid financial development and CO ₂ emanations, and across remittances and CO ₂ emissions. However, one-way causality flows from economic growth, renewable energy and innovation to CO ₂ . This study suggests some essential measures for ecological sustainability in light of the findings.
(© 2023. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)