Liang Yanzi, Ur Rahman Saif, Shafaqat Amira, Ali Arshad, Ali Muhammad Sibt E, Khan Hamayun
School of Financial Technology, Shanghai Lixin University of Accounting and Finance, Shanghai, 201209, China.
Faculty of Economics and Commerce, The Superior University, Lahore, Punjab, Pakistan.
Sci Rep. 2024 Nov 19;14(1):28636. doi: 10.1038/s41598-024-79908-9.
To combat climate change, a country needs to take part in the development of energy sources and the renovation of its energy infrastructure. Since, green energy production is frequently costly and dangerous, especially in its early stages, capital is one of the barriers to the energy revolution. The aims of the study to analyze the non-linear relationship between energy consumption, financial development, and technology innovation on green economic growth, and environmental pollution indicators including ecological footprint and carbon dioxide emission in the E-7 countries over the period of 1995 to 2022. Using a new panel non-linear autoregressive distribution model (NLPARDL) approach, the results confirm that carbon dioxide emissions, green economic growth, and ecological footprint have a positive and strong long-term correlation with the positive component of the energy use. Conversely, negative shocks are negative and significant with ecological footprint but positive and significant with carbon dioxide emissions and green economic growth. Furthermore, financial development has a positive and substantial relationship with ecological footprint in addition to having a long-term negative and large impact on carbon dioxide emissions and a negative but small impact on green economic growth in a positive shock. Similar to this, financial development negative shock coefficients are significant and negative over the long term when it comes to carbon dioxide emissions and green economic growth, and they are positively significant when it comes to ecological footprint negative component. In the meantime, the long-term positive shock of technology innovation has a negative significant correlation with ecological footprint, ecological footprint a positive and negligible correlation with green economic growth, and a positive and significant correlation with carbon dioxide emission. Similarly, technology innovation long-term negative shock coefficients for carbon dioxide emissions and green economic growth are both negative and significant; on the other hand, technology innovations long-term negative shock coefficients for the negative component of ecological footprint are positively significant. Based on the results, E-7 nations need to invest in projects that utilize energy and technology innovation to reduce environmental degradation and boost green economic growth, such as investing in energy projects and reduce the dependency on fossil fuels. The findings also suggest that to achieve the sustainable growth and environment, E7 countries must enhance the environment related technology innovations.
为应对气候变化，一个国家需要参与能源开发及其能源基础设施的改造。由于绿色能源生产通常成本高昂且危险，尤其是在早期阶段，资金是能源革命的障碍之一。本研究旨在分析1995年至2022年期间E-7国家能源消费、金融发展和技术创新与绿色经济增长以及包括生态足迹和二氧化碳排放在内的环境污染指标之间的非线性关系。使用新的面板非线性自回归分布模型（NLPARDL）方法，结果证实二氧化碳排放、绿色经济增长和生态足迹与能源使用的正向成分具有正向且强烈的长期相关性。相反，负向冲击对生态足迹为负且显著，但对二氧化碳排放和绿色经济增长为正且显著。此外，金融发展除了在正向冲击中对二氧化碳排放有长期负向且较大影响以及对绿色经济增长有负向但较小影响外，与生态足迹有正向且显著的关系。同样，金融发展的负向冲击系数在长期内对二氧化碳排放和绿色经济增长而言显著为负，而对生态足迹负向成分而言显著为正。与此同时，技术创新的长期正向冲击与生态足迹具有负向显著相关性，生态足迹与绿色经济增长具有正向且可忽略不计的相关性，与二氧化碳排放具有正向且显著的相关性。同样，技术创新对二氧化碳排放和绿色经济增长的长期负向冲击系数均为负且显著；另一方面，技术创新对生态足迹负向成分的长期负向冲击系数为正且显著。基于这些结果，E-7国家需要投资于利用能源和技术创新来减少环境退化并促进绿色经济增长的项目，例如投资能源项目并减少对化石燃料的依赖。研究结果还表明，为实现可持续增长和环境目标，E7国家必须加强与环境相关的技术创新。
