Role of Financial Technology and IT Management Towards Sustainability: ARDL Analysis for United States
Keywords:
Energy Efficiency, Financial Accessibility, GDP, CO2 Emission, ARDLAbstract
This research analyzes the intricate connections among GDP, ICT use for financial inclusion, energy conservation, urbanization, and their cumulative effect on carbon emissions in the USA from 1990 to 2022. Using unit root assessments to examine the non-stationarity of key factors, the study incorporates the ARDL method to explore both short- and long-term dynamics. The results reveal that GDP expansion and urbanization negatively impact environmental health, suggesting that increased financial activities and urban population growth contribute to higher pollution levels due to greater fossil fuel consumption and resource exploitation. Conversely, ICT adoption, financial accessibility, and energy efficiency exhibit a negative link with CO2 emissions, indicating that advancements in technology, sustainable financing, and renewable energy integration could enhance the USA's environmental sustainability. The Pairwise causality test shows one way causality from GDP, energy efficiency, access to finance, and ICT to CO2 emissions, with no proof of inverse causality. A bidirectional causal connection within urbanization and CO2 emissions, adds to the significance of urban development in shaping climatic results. These outcomes underscore the necessities of ICT application, financial accessibility, and green energy investments for promoting ecological sustainability. Policymakers can use these insights to create targeted strategies that strike a balance between technological innovation, financial stability, and responsible urbanization, helping to reduce biodiversity loss and promote a cleaner, more sustainable future.
References
Fakher, H. A., Nathaniel, S. P., Ahmed, Z., Ahmad, M., & Moradhasel, N. (2024). The environmental repercussions of financial development and green energy in BRICS economies: From the perspective of new composite indices. Energy & Environment. https://doi.org/10.1177/0958305X241270216
Ridwan, M., Akther, A., Tamim, M. A., Ridzuan, A. R., Esquivias, M. A., & Wibowo, W. (2024). Environmental health in BIMSTEC: The roles of forestry, urbanization, and financial access using LCC theory, DKSE, and quantile regression. Discover sustainability, 5(1), 429. https://doi.org/10.1007/s43621-024-00679-4
Nathaniel, S. P., Solomon, C. J., Khudoykulov, K., & Fakher, H. A. (In Press). Linking resource richness, digital economy, and clean energy to ecological footprint and load capacity factor in emerging markets. Natural resources forum. https://doi.org/10.1111/1477-8947.12590
Fakher, H. A., Panahi, M., Emami, K., Peykarjou, K., & Zeraatkish, S. Y. (2021). New insights into development of an environmental – economic model based on a composite environmental quality index: A comparative analysis of economic growth and environmental quality trend. Environmental energy and economic research, 5(3), 1–24. https://dor.isc.ac/dor/20.1001.1.25384988.2021.5.3.6.4
Zare, Z., Sifat, A. I., & Karatas, M. (2025). A Review of data analytics and machine learning for personalization in tech sector marketing. Journal of soft computing and decision analytics, 3(1), 92–111. https://doi.org/10.31181/jscda31202562
Raihan, A., Atasoy, F. G., Atasoy, M., Ridwan, M., & Paul, A. (2022). The role of green energy, globalization, urbanization, and economic growth toward environmental sustainability in the United States. Journal of environmental and energy economics, 1(2), 8–17. https://doi.org/10.56946/jeee.v1i2.377
Saqib, N., Duran, I. A., & Ozturk, I. (2023). Unraveling the interrelationship of digitalization, renewable energy, and ecological footprints within the EKC framework: Empirical insights from the united states. Sustainability, 15(13), 1–21. https://doi.org/10.3390/su151310663
Shahiduzzaman, M., & Layton, A. (2015). Changes in CO2 emissions over business cycle recessions and expansions in the United States: A decomposition analysis. Applied energy, 150, 25–35. https://doi.org/10.1016/j.apenergy.2015.04.007
Saqib, N., Abbas, S., Ozturk, I., Murshed, M., Tarczyńska-Łuniewska, M., Mahtab Alam, M., & Tarczyński, W. (2024). Leveraging environmental ICT for carbon neutrality: Analyzing the impact of financial development, renewable energy and human capital in top polluting economies. Gondwana research, 126, 305–320. https://doi.org/10.1016/j.gr.2023.09.014
Worldometers. (2024). GDP (current US$). https://www.worldometers.info/gdp/us-gdp/
Aslan, A., Ilhan, O., Usama, A. M., Savranlar, B., Polat, M. A., Metawa, N., & Raboshuk, A. (2024). Effect of economic policy uncertainty on CO2 with the discrimination of renewable and non renewable energy consumption. Energy, 291, 130382. https://doi.org/10.1016/j.energy.2024.130382
SDG, U. (2023). United Nations. https://sdgs.un.org/goals
Ridwan, M., Akther, A., Al Absy, M. S. M., Tahsin, M. S., Bin Ridzuan, A. R., Yagis, O., & Mukhta, K. P. (2024). The role of tourism, technological innovation, and globalization in driving energy demand in major tourist regions. International journal of energy economics and policy, 14(6), 675–689. https://www.zbw.eu/econis-archiv/bitstream/11159/703067/1/1914628187_0.pdf
Hussain, S., Tanveer, A., Sabeeh, U., Ajid Ur, R., & and Shahzad, S. J. H. (2024). Financial inclusion and carbon emissions in Asia: Implications for environmental sustainability. Economic and political studies, 12(1), 88–104. https://doi.org/10.1080/20954816.2023.2273003
NRDC. (2023). Energy efficiency: The clean facts. https://www.nrdc.org/stories/energy-efficiency-clean-facts
Rahman, M. N., & Ferdaous, J. (2024). Linkages between ICT diffusion, renewable energy consumption, and carbon emissions: A comparative analysis of SAARC, MENA, and OECD countries. Environmental science and pollution research international, 31(9), 13471–13488. https://doi.org/10.1007/s11356-024-32068-9
Renzhi, N., & Baek, Y. J. (2020). Can financial inclusion be an effective mitigation measure? evidence from panel data analysis of the environmental Kuznets curve. Finance research letters, 37(5), 101725. http://dx.doi.org/10.1016/j.frl.2020.101725
Ali, M., Hashmi, S. H., Nazir, M. R., Bilal, A., & Nazir, M. I. (2021). Does financial inclusion enhance economic growth? Empirical evidence from the IsDB member countries. International journal of finance & economics, 26(4), 5235–5258. https://doi.org/10.1002/ijfe.2063
Gök, A. (2020). The role of financial development on carbon emissions: A meta regression analysis. Environmental science and pollution research, 27(11), 11618–11636. https://doi.org/10.1007/s11356-020-07641-7
Jiang, C., & Ma, X. (2019). The impact of financial development on carbon emissions: A global perspective. Sustainability, 11(19). https://doi.org/10.3390/su11195241
Kuteesa, K. N., Akpuokwe, C. U., & Udeh, C. A. (2024). Theoretical perspectives on digital divide and ICT access: Comparative study of rural communities in Africa and the United States. Computer science & it research journal, 5(4), 839–849. https://doi.org/10.51594/csitrj.v5i4.1045
Atarere, J., Haas, C., Onyeaka, H., Adewunmi, C., Delungahawatta, T., Orhurhu, V., & Barrow, J. (2024). The role of health information technology on colorectal cancer screening participation among smokers in the United States. Telemedicine and E-health, 30(2), 448–456. https://doi.org/10.1089/tmj.2023.0052
Ali, M., Joof, F., Samour, A., Tursoy, T., Balsalobre-Lorente, D., & Radulescu, M. (2023). Testing the impacts of renewable energy, natural resources rent, and technological innovation on the ecological footprint in the USA: Evidence from Bootstrapping ARDL. Resources policy, 86, 104139. https://doi.org/10.1016/j.resourpol.2023.104139
Hassan, O. F., Aderibigbe, O. O., Efijemue, O. P., & Onasanya, T. D. (2024). The impact of cloud computing in promoting economic growth through SMEs in the United States. International journal of computer science and information technology, 16(2), 11–23. https://B2n.ir/yu4731
Irascu, D. (2023). ICT in the United States: General profile and insights. https://techbehemoths.com/blog/ict-in-the-united-states-general-profile-and-insights
Ericsson. (2019). ICT’s potential to reduce greenhouse gas emissions in 2030. https://B2n.ir/ht5363
Abbasi, K. R., Lv, K., Radulescu, M., & Shaikh, P. A. (2021). Economic complexity, tourism, energy prices, and environmental degradation in the top economic complexity countries: Fresh panel evidence. Environmental science and pollution research, 28(48), 68717–68731. https://doi.org/10.1007/s11356-021-15312-4
Pattak, D. C., Tahrim, F., Salehi, M., Voumik, L. C., Akter, S., Ridwan, M., … & Zimon, G. (2023). The driving factors of Italy’s CO2 emissions based on the STIRPAT model: ARDL, FMOLS, DOLS, and CCR approaches. Energies, 16(15), 5845. https://doi.org/10.3390/en16155845
Raihan, A., Voumik, L. C., Ridwan, M., Ridzuan, A. R., Jaaffar, A. H., & Yusoff, N. Y. M. (2023). From growth to green: Navigating the complexities of economic development, energy sources, health spending, and carbon emissions in Malaysia. Energy reports, 10, 4318–4331. https://doi.org/10.1016/j.egyr.2023.10.084
Ridwan, M., Urbee, A. J., Voumik, L. C., Das, M. K., Rashid, M., & Esquivias, M. A. (2024). Investigating the environmental Kuznets curve hypothesis with urbanization, industrialization, and service sector for six South Asian Countries: Fresh evidence from driscoll kraay standard error. Research in globalization, 8, 100223. https://doi.org/10.1016/j.resglo.2024.100223
Raihan, A., Hasan, M. A., Voumik, L. C., Pattak, D. C., Akter, S., & Ridwan, M. (2024). Sustainability in Vietnam: Examining economic growth, energy, innovation, agriculture, and forests’ impact on CO2 emissions. World development sustainability, 4, 100164. https://doi.org/10.1016/j.wds.2024.100164
Ahmad, S., Raihan, A., & Ridwan, M. (2024). Role of economy, technology, and renewable energy toward carbon neutrality in China. Journal of economy and technology, 2, 138–154. https://doi.org/10.1016/j.ject.2024.04.008
Islam, S., Raihan, A., Paul, A., Ridwan, M., & Rahman, M. S. (2024). Dynamic impacts of sustainable energies, technological innovation, economic growth, and financial globalization on load capacity factor in the top nuclear energy-consuming countries. Journal of environmental and energy economics, 3(2), 1–14. https://doi.org/10.56946/jeee.v3i1.448
Saudi, M. H. M., Sinaga, O., & Jabarullah, N. H. (2019). The role of renewable, non-renewable energy consumption and technology innovation in testing environmental Kuznets curve in Malaysia. International journal of energy economics and policy, 9(1), 299–307. https://www.econjournals.com/index.php/ijeep/article/view/7327
Raihan, A., Ridwan, M., Tanchangya, T., Rahman, J., & Ahmad, S. (2023). Environmental effects of China’s nuclear energy within the framework of environmental Kuznets curve and pollution haven hypothesis. Journal of environmental and energy economics, 2(1), 1–12. https://doi.org/10.56946/jeee.v2i1.346
Mehmood, U., Tariq, S., Haq, Z. ul, Nawaz, H., Ali, S., Murshed, M., & Iqbal, M. (2023). Evaluating the role of renewable energy and technology innovations in lowering CO2 emission: A wavelet coherence approach. Environmental science and pollution research, 30(15), 44914–44927. https://doi.org/10.1007/s11356-023-25379-w
Onwe, J. C., Ridzuan, A. R., Uche, E., Ray, S., Ridwan, M., & Razi, U. (2024). Greening Japan: Harnessing energy efficiency and waste reduction for environmental progress. Sustainable futures, 8, 100302. https://doi.org/10.1016/j.sftr.2024.100302
Polcyn, J., Voumik, L. C., Ridwan, M., Ray, S., & Vovk, V. (2023). Evaluating the influences of health expenditure, energy consumption, and environmental pollution on life expectancy in Asia. International journal of environmental research and public health, 20(5), 1–18. https://doi.org/10.3390/ijerph20054000
Raihan, A., Rahman, J., Tanchangya, T., Ridwan, M., Rahman, M. S., & Islam, S. (2024). A review of the current situation and challenges facing Egyptian renewable energy technology. Journal of technology innovations and energy, 3(3), 29–52. https://B2n.ir/pz4407
Tipon Tanchangya, A. R., Rahman, J., & Ridwan, M. (2024). A review of deep learning applications for sustainable water resource management. Global sustainability research, 3(4), 48–73. https://doi.org/10.56556/gssr.v3i4.1043
Islam, S., Raihan, A., Ridwan, M., Rahman, M. S., Paul, A., Karmakar, S., … & Jubayed, A. A. (2023). The influences of financial development, economic growth, energy price, and foreign direct investment on renewable energy consumption in the BRICS. Journal of environmental and energy economics, 2(2), 17–28. https://doi.org/10.56946/jeee.v2i2.419
Ridzuan, A. R., Rahman, N. H. A., Singh, K. S. J., Borhan, H., Ridwan, M., Voumik, L. C., & Ali, M. (2023). Assessing the impact of technology advancement and foreign direct investment on energy utilization in malaysia: an empirical exploration with boundary estimation. International conference on business and technology (pp. 1–12). Springer. https://doi.org/10.1007/978-3-031-55911-2_1
Adebayo, T. S., & Ullah, S. (2024). Towards a sustainable future: The role of energy efficiency, renewable energy, and urbanization in limiting CO2 emissions in Sweden. Sustainable development, 32(1), 244–259. https://doi.org/10.1002/sd.2658
Shahzadi, H. N., Sheikh, S. M., Sadiq, A., & Rahman, S. U. (2023). Effect of financial development, economic growth on environment pollution: Evidence from G-7 based ARDL cointegration approach. Pakistan journal of humanities and social sciences, 11(1), 68–79. https://doi.org/10.52131/pjhss.2023.1101.0330
Wenlong, Z., Tien, N. H., Sibghatullah, A., Asih, D., Soelton, M., & Ramli, Y. (2023). Impact of energy efficiency, technology innovation, institutional quality, and trade openness on greenhouse gas emissions in ten Asian economies. Environmental science and pollution research, 30(15), 43024–43039. https://doi.org/10.1007/s11356-022-20079-3
Bilgili, F., Balsalobre-Lorente, D., Kuşkaya, S., Alnour, M., Önderol, S., & Hoque, M. E. (2024). Are research and development on energy efficiency and energy sources effective in the level of CO2 emissions? Fresh evidence from EU data. Environment, development and sustainability, 26(9), 24183–24219. https://doi.org/10.1007/s10668-023-03641-y
Jin, X., Ahmed, Z., Pata, U. K., Kartal, M. T., & Erdogan, S. (2024). Do investments in green energy, energy efficiency, and nuclear energy R&D improve the load capacity factor? An augmented ARDL approach. Geoscience frontiers, 15(4), 101646. https://doi.org/10.1016/j.gsf.2023.101646
Zhang, H., Duan, Y., Yang, J., Han, Z., & Wang, H. (2023). Can green finance improve China’s haze pollution reduction? The role of energy efficiency. Environmental development, 45, 100833. https://doi.org/10.1016/j.envdev.2023.100833
Ehsanullah, S., Tran, Q. H., Sadiq, M., Bashir, S., Mohsin, M., & Iram, R. (2021). How energy insecurity leads to energy poverty? Do environmental consideration and climate change concerns matters. Environmental science and pollution research, 28(39), 55041–55052. https://doi.org/10.1007/s11356-021-14415-2
Akram, R., Chen, F., Khalid, F., Ye, Z., & Majeed, M. T. (2020). Heterogeneous effects of energy efficiency and renewable energy on carbon emissions: Evidence from developing countries. Journal of cleaner production, 247, 119122. https://doi.org/10.1109/EEM49802.2020.9221941
Liu, N., Hong, C., & Sohail, M. T. (2022). Does financial inclusion and education limit CO2 emissions in China? A new perspective. Environmental science and pollution research, 1–8. https://doi.org/10.1007/s11356-021-17032-1
Bala, S., Al Shiam, S. A., Arefeen, S. S., Abir, S. I., & Hossain, H. (2024). Measuring how AI innovations and financial accessibility influence environmental sustainability in the G-7: The role of globalization with Panel ARDL and quantile regression analysis. Global sustainability research, 3(4). 1–29. https://doi.org/10.56556/gssr.v3i4.974
Abir, S. I., Shoha, S., Al Shiam, S. A., Dolon, M. S. A., Bala, S., Hossain, H., … & Bibi, R. (In Press). Enhancing load capacity factor: The influence of financial accessibility, AI Innovation, and institutional quality in the United States. 2024, 3(4), 12–36. https://doi.org/10.56556/jescae.v3i4.979
Chaudhry, I. S., Yusop, Z., & Habibullah, M. S. (2022). Financial inclusion-environmental degradation nexus in OIC countries: New evidence from environmental Kuznets curve using DCCE approach. Environmental science and pollution research, 29(4), 5360–5377. https://doi.org/10.1007/s11356-021-15941-9
Ridwan, M., Aspy, N. N., Bala, S., Hossain, M. E., Akther, A., Eleais, M., & Esquivias, M. A. (2024). Determinants of environmental sustainability in the United States: analyzing the role of financial development and stock market capitalization using LCC framework. Discover sustainability, 5(1), 319. https://doi.org/10.1007/s43621-024-00539-1
Raihan, A., Bala, S., Akther, A., Ridwan, M., Eleais, M., & Chakma, P. (In Press). Advancing environmental sustainability in the G-7: The impact of the digital economy, technological innovation, and financial accessibility using panel ARDL approach. Journal of economy and technology. https://doi.org/10.1016/j.ject.2024.06.001
Raihan, A., Rahman, J., Tanchangya, T., Ridwan, M., & Bari, A. B. M. (2024). Influences of economy, energy, finance, and natural resources on carbon emissions in Bangladesh. Carbon research, 3(1), 1–16. https://doi.org/10.1007/s44246-024-00157-6
Raihan, A., Voumik, L. C., Ridwan, M., Akter, S., Ridzuan, A. R., Wahjoedi, … & Ismail, N. A. (2024). Indonesia’s path to sustainability: Exploring the intersections of ecological footprint, technology, global trade, financial development and renewable energy. In Opportunities and risks in ai for business development: volume 1 (pp. 1–13). Springer. https://doi.org/10.1007/978-3-031-65203-5_1
Hossain, M. S., Ridwan, M., Akhter, A., Nayeem, M. B., Choudhury, M. T. H., Asrafuzzaman, M., & Shoha, S. (2024). Exploring the LCC hypothesis in the nordic region: The role of AI innovation, environmental Taxes, and financial accessibility via panel ARDL. GSSR, 3(3), 54–80. https://doi.org/10.56556/gssr.v3i3.972
Zaidi, S. A. H., Hussain, M., & Uz Zaman, Q. (2021). Dynamic linkages between financial inclusion and carbon emissions: Evidence from selected OECD countries. Resources, environment and sustainability, 4, 100022. https://doi.org/10.1016/j.resenv.2021.100022
Tanchangya, T., Ridwan, M., Raihan, A., Khayruzzaman, Rahman, M. S., Rahman, J., … & Islam, S. (2023). Nexus between financial development and renewable energy usage in Bangladesh. Journal of environmental and energy economics, 2(1), 38–51. https://doi.org/10.56946/jeee.v2i1.524
Rahman, J., Foisal, M. Z. U., Mohajan, B., Islam, S., Rafi, A. H., Paul, A., & Ahmad10, S. (2023). Role of renewable energy, economic growth, agricultural productivity, and urbanization toward achieving China’s goal of net-zero emissions. Journal of environmental and energy economics, 2(1), 22–37. https://doi.org/10.56946/jeee.v2i1.515
Raihan, A., & Tuspekova, A. (2022). Role of economic growth, renewable energy, and technological innovation to achieve environmental sustainability in Kazakhstan. Current research in environmental sustainability, 4, 100165. https://doi.org/10.1016/j.crsust.2022.100165
Raihan, A., Ridwan, M., & Rahman, M. S. (2024). An exploration of the latest developments, obstacles, and potential future pathways for climate-smart agriculture. Climate smart agriculture, 1(2), 100020. https://doi.org/10.1016/j.csag.2024.100020
Ridwan, M., Bala, S., Abdulla, S., Shiam, A., Akhter, A., Asrafuzzaman, M., … & Shoha, S. (2024). Leveraging AI for a greener future: Exploring the economic and financial impacts on sustainable Environment in the United States. Journal of environmental science and economics, 3(3), 1–30. https://doi.org/10.56556/jescae.v3i3.970
Sun, X., Xiao, S., Ren, X., & Xu, B. (2023). Time-varying impact of information and communication technology on carbon emissions. Energy economics, 118, 106492. https://doi.org/10.1016/j.eneco.2022.106492
Xie, L., Mu, X., Hu, G., Tian, Z., & Li, M. (2023). How do information and communication technology and urbanization affect carbon emissions? Evidence from 42 selected “Belt and Road Initiative” countries. Environmental science and pollution research, 30(14), 40427–40444. https://doi.org/10.1007/s11356-022-25003-3
Lu, W. C. (2018). The impacts of information and communication technology, energy consumption, financial development, and economic growth on carbon dioxide emissions in 12 Asian countries. Mitigation and adaptation strategies for global change, 23(8), 1351–1365. https://doi.org/10.1007/s11027-018-9787-y
Chen, X., Gong, X., Li, D., & Zhang, J. (2019). Can information and communication technology reduce CO2 emission? A quantile regression analysis. Environmental science and pollution research, 26, 32977–32992. https://doi.org/10.1007/s11356-019-06380-8
Awan, A., Abbasi, K. R., Rej, S., Bandyopadhyay, A., & Lv, K. (2022). The impact of renewable energy, internet use and foreign direct investment on carbon dioxide emissions: A method of moments quantile analysis. Renewable energy, 189, 454–466. https://doi.org/10.1016/j.renene.2022.03.017
Ahmed, Z., Nathaniel, S. P., & Shahbaz, M. (2021). The criticality of information and communication technology and human capital in environmental sustainability: Evidence from Latin American and Caribbean countries. Journal of cleaner production, 286, 125529. https://doi.org/10.1016/j.jclepro.2020.125529
Wang, J., & Xu, Y. (2021). Internet usage, human capital and CO2 emissions: A global perspective. Sustainability, 13(15), 8268. https://doi.org/10.3390/su13158268
Usman, M., Khan, N., & Omri, A. (2024). Environmental policy stringency, ICT, and technological innovation for achieving sustainable development: Assessing the importance of governance and infrastructure. Journal of environmental management, 365, 121581. https://doi.org/10.1016/j.jenvman.2024.121581
Nguyen, T. T., Pham, T. A. T., & Tram, H. T. X. (2020). Role of information and communication technologies and innovation in driving carbon emissions and economic growth in selected G-20 countries. Journal of environmental management, 261, 110162. https://doi.org/10.1016/j.jenvman.2020.110162
Godil, D. I., Sharif, A., Agha, H., & Jermsittiparsert, K. (2020). The dynamic nonlinear influence of ICT, financial development, and institutional quality on CO2 emission in Pakistan: new insights from QARDL approach. Environmental science and pollution research, 27, 24190–24200. https://doi.org/10.1007/s11356-020-08619-1
Cui, H., Cao, Y., Feng, C., & Zhang, C. (2023). Multiple effects of ICT investment on carbon emissions: evidence from China. Environmental science and pollution research, 30(2), 4399–4422. https://doi.org/10.1007/s11356-022-22160-3
Faisal, F., Azizullah, Tursoy, T., & Pervaiz, R. (2020). Does ICT lessen CO2 emissions for fast-emerging economies? An application of the heterogeneous panel estimations. Environmental science and pollution research, 27(10), 10778–10789. https://doi.org/10.1007/s11356-019-07582-w
Raheem, I. D., Tiwari, A. K., & Balsalobre-Lorente, D. (2020). The role of ICT and financial development in CO2 emissions and economic growth. Environmental science and pollution research, 27(2), 1912–1922. https://doi.org/10.1007/s11356-019-06590-0
Ridwan, M. (2023). Unveiling the powerhouse: Exploring the dynamic relationship between globalization, urbanization, and economic growth in Bangladesh through an innovative ARDL approach. ASIAN journal of economics and business management, 2(2), 283 – 291. https://doi.org/10.53402/ajebm.v2i2.352
Rahman, J., Foisal, M. Z. U., Mohajan, B., Rafi, A. H., Islam, S., & Paul, A. (2023). Nexus between agriculture, industrialization, imports, and carbon emissions in Bangladesh. Journal of environmental and energy economics, 2(2), 29–39. https://doi.org/10.56946/jeee.v2i2.513
Luo, Y., Shen, J., Chen, A., Tao, Q., Li, Q., White, P. J., … & Wang, C. (2021). Loss of organic carbon in suburban soil upon urbanization of Chengdu megacity, China. Science of the total environment, 785, 147209. https://doi.org/10.1016/j.scitotenv.2021.147209
Ridwan, M., Bala, S., Abdulla Al Shiam, S., Akhter, A., Mahdi Hasan, M., Asrafuzzaman, M., & Bibi, R. (2024). Leveraging AI for promoting sustainable environments in G-7: The impact of financial development and digital economy via MMQR approach. Global sustainability research, 3(3), 27–53. https://doi.org/10.56556/gssr.v3i3.971
Raihan, A., Tanchangya, T., Rahman, J., Ridwan, M., & Ahmad, S. (2022). The influence of information and communication technologies, renewable energies and urbanization toward environmental sustainability in China. Journal of environmental and energy economics, 1(1), 11–23. https://doi.org/10.56946/jeee.v1i1.351
Song, S., Tan, H., Zhang, Y., & Ma, Y. (2024). A multiscale analysis of the relationship between urbanization and CO2 emissions using geo-weighted regression model. Discover sustainability, 5(1), 113. https://doi.org/10.1007/s43621-024-00298-z
Shahbaz, M., Loganathan, N., Muzaffar, A. T., Ahmed, K., & Ali Jabran, M. (2016). How urbanization affects CO2 emissions in Malaysia? The application of STIRPAT model. Renewable and sustainable energy reviews, 57, 83–93. https://doi.org/10.1016/j.rser.2015.12.096
Anser, M. K., Khatib Ahmad, K., Muhammad, U., Abraham Ayobamiji, A., & Shamansurova, Z. (2024). Formulating sustainable development policy for a developed nation: Exploring the role of renewable energy, natural gas efficiency and oil efficiency towards decarbonization. International journal of sustainable development & world ecology, 31(3), 247–263. https://doi.org/10.1080/13504509.2023.2268586
Zhang, W., Xu, Y., Jiang, L., Streets, D. G., & Wang, C. (2023). Direct and spillover effects of new-type urbanization on CO2 emissions from central heating sector and EKC analyses: Evidence from 144 cities in China. Resources, conservation and recycling, 192, 106913. http://dx.doi.org/10.1016/j.resconrec.2023.106913
Haseeb, A., Xia, E., Danish, Baloch, M. A., & Abbas, K. (2018). Financial development, globalization, and CO2 emission in the presence of EKC: Evidence from BRICS countries. Environmental science and pollution research, 25, 31283–31296. https://doi.org/10.1007/s11356-018-3034-7
Voumik, L. C., & Ridwan, M. (2023). Impact of FDI, industrialization, and education on the environment in Argentina: ARDL approach. Heliyon, 9(1). https://www.cell.com/heliyon/fulltext/S2405-8440(23)00079-8
Owusu, S. M., Chuanbo, F., & Qiao, H. (2024). Examining economic policy uncertainty’s impact on environmental sustainability: Insights from nordic nations. Journal of cleaner production, 449, 141688. https://doi.org/10.1016/j.jclepro.2024.141688
Li, D., Han, P., Li, K., Di, Q., & Duan, Y. (2024). A study on the impact of urbanization level on carbon emissions based on the STIRPAT model: A case study of five major urban agglomerations in Northern China. Sustainability, 16(14), 1–29. https://doi.org/10.3390/su16146134
Wu, C., Ge, M., Huang, Z., Wang, L., & Liu, T. (2024). An extended STIRPAT model and forecast of carbon emission based on green consumption behaviors: evidence from China. Environment, development and sustainability, 26(4), 8955–8977. https://doi.org/10.1007/s10668-023-03077-4
Ehrlich, P. R., & Holdren, J. P. (1971). Impact of population growth: Complacency concerning this component of man’s predicament is unjustified and counterproductive. Science, 171(3977), 1212–1217. https://doi.org/10.1126/science.171.3977.1212
Tang, J., Zheng, J., Yang, G., Li, C., & Zhao, X. (2024). Carbon emission prediction in a region of Hainan Province based on improved STIRPAT model. Environmental science and pollution research, 31(49), 58795–58817. https://doi.org/10.1007/s11356-024-35027-6
Ridwan, M., Raihan, A., Ahmad, S., Karmakar, S., & Paul, P. (2023). Environmental sustainability in France: The role of alternative and nuclear energy, natural resources, and government spending. Journal of environmental and energy economics, 2(2), 1–16. https://doi.org/10.56946/jeee.v2i2.343
Jalil, A., & Rao, N. H. (2019). Time Series analysis (stationarity, cointegration, and causality). In Environmental kuznets curve (EKC) (pp. 85–99). Academic Press. https://doi.org/10.1016/B978-0-12-816797-7.00008-4
Shahid, R., Shahid, H., Shijie, L., & Jian, G. (2024). Developing nexus between economic opening-up, environmental regulations, rent of natural resources, green innovation, and environmental upgrading of China - empirical analysis using ARDL bound-testing approach. Innovation and green development, 3(1), 100088. https://doi.org/10.1016/j.igd.2023.100088
Dickey, D. A., & Fuller, W. A. (1979). Distribution of the estimators for autoregressive time series with a unit root. Journal of the american statistical association, 74(366), 427–431. https://doi.org/10.1080/01621459.1979.10482531
Pesaran, M. H., Shin, Y., & Smith, R. J. (2001). Bounds testing approaches to the analysis of level relationships. Journal of applied econometrics, 16(3), 289–326. https://doi.org/10.1002/jae.616
Pesaran, M. H., & Shin, Y. (1995). An autoregressive distributed lag modelling approach to cointegration analysis (Vol. 9514). Department of Applied Economics, University of Cambridge Cambridge, UK. http://dx.doi.org/10.1017/CCOL0521633230.011
Voumik, L. C., Rahman, M. H., Rahman, M. M., Ridwan, M., Akter, S., & Raihan, A. (2023). Toward a sustainable future: Examining the interconnectedness among Foreign Direct Investment (FDI), urbanization, trade openness, economic growth, and energy usage in Australia. Regional sustainability, 4(4), 405–415. https://doi.org/10.1016/j.regsus.2023.11.003
Granger, C. W. J. (1969). Investigating causal relations by econometric models and cross-spectral methods. Econometrica: journal of the econometric society, 424–438. https://www.jstor.org/stable/1912791
Hasan, M. A., Mahjabin, T., Hossain, M. A., Kibria, M. G., Haseeb, M., & Hossain, M. E. (2023). Towards green economy and sustainable development in Bangladesh: Assessing the role of social and environmental indicators. Environmental science and pollution research, 30(51), 110324–110339. https://doi.org/10.1007/s11356-023-30060-3
Engle, R. F., & Granger, C. W. J. (1987). Co-Integration and error correction: representation, estimation, and testing. Econometrica, 55(2), 251–276. http://www.jstor.org/stable/1913236
Jarque, C. M., & Bera, A. K. (1987). A test for normality of observations and regression residuals. International statistical review/revue internationale de statistique, 55, 163–172. http://dx.doi.org/10.2307/1403192
Breusch, T. S., & Pagan, A. R. (1979). A simple test for heteroscedasticity and random coefficient variation. Econometrica: journal of the econometric society, 47, 1287–1294. http://dx.doi.org/10.2307/1911963
Santilio, A., Cammarata, R., & Girolimetti, S. (2024). Laboratory performances during proficiency tests for the analysis of active substances in pesticide formulations during 2021–2023. Accreditation and quality assurance, 29, 1–10. https://doi.org/10.1007/s00769-024-01620-y
Winterhalder, M., Schelter, B., Hesse, W., Schwab, K., Leistritz, L., Klan, D., … & Witte, H. (2005). Comparison of linear signal processing techniques to infer directed interactions in multivariate neural systems. Signal processing, 85(11), 2137–2160. https://doi.org/10.1016/j.sigpro.2005.07.011
Caglar, A. E., Yavuz, E., Mert, M., & Kilic, E. (2022). The ecological footprint facing asymmetric natural resources challenges: Evidence from the USA. Environmental science and pollution research, 29, 10521–10534. https://doi.org/10.1007/s11356-021-16406-9
Daniyal, M., Tawiah, K., Qureshi, M., Haseeb, M., Asosega, K. A., Kamal, M., & Rehman, M. UR. (2023). An autoregressive distributed lag approach for estimating the nexus between CO2 emissions and economic determinants in Pakistan. Plos one, 18(5), e0285854. https://doi.org/10.1371/journal.pone.0285854
Adebayo, T. S., & Kirikkaleli, D. (2021). Impact of renewable energy consumption, globalization, and technological innovation on environmental degradation in Japan: Application of wavelet tools. Environment, development and sustainability, 23(11), 16057–16082. https://doi.org/10.1007/s10668-021-01322-2
Borsha, F. H., Voumik, L. C., Rashid, M., Das, M. K., Stępnicka, N., & Zimon, G. (2024). An empirical investigation of GDP, industrialization, population, renewable energy and CO2 emission in Bangladesh: bridging EKC-STIRPAT models. International journal of energy economics and policy, 14(3), 560–571. https://www.zbw.eu/econis-archiv/bitstream/11159/653672/1/1889906115_0.pdf
Acheampong, A. O., Janet, D., & and Amponsah, M. (2022). Analyzing the role of economic globalization in achieving carbon neutrality in Australia. International journal of sustainable development & world ecology, 29(6), 559–578. https://doi.org/10.1080/13504509.2022.2056771
Guo, X., Shi, R., & Ren, D. (2024). Reduce carbon emissions efficiently: The influencing factors and decoupling relationships of carbon emission from high-energy consumption and high-emission industries in China. Energy & environment, 35(3), 1416–1433. https://doi.org/10.1177/0958305X221140567
Destek, M. A., Shahbaz, M., Okumus, I., Hammoudeh, S., & Sinha, A. (2020). The relationship between economic growth and carbon emissions in G-7 countries: Evidence from time-varying parameters with a long history. Environmental science and pollution research, 27, 29100–29117. https://doi.org/10.1007/s11356-020-09189-y
Moyer, J. D., & Hughes, B. B. (2012). ICTs: Do they contribute to increased carbon emissions? Technological forecasting and social change, 79(5), 919–931. https://doi.org/10.1016/j.techfore.2011.12.005
Shahzad, U. (2020). Environmental taxes, energy consumption, and environmental quality: Theoretical survey with policy implications. Environmental science and pollution research, 27(20), 24848–24862. https://doi.org/10.1007/s11356-020-08349-4
Baloch, M. A., Ozturk, I., Bekun, F. V., & Khan, D. (2021). Modeling the dynamic linkage between financial development, energy innovation, and environmental quality: Does globalization matter? Business strategy and the environment, 30(1), 176–184. https://doi.org/10.1002/bse.2615
Yao, X., Yasmeen, R., Padda, I. U. H., Shah, W. U. H., & Kamal, M. A. (2020). Inequalities by energy sources: An assessment of environmental quality. PloS one, 15(3), e0230503. https://doi.org/10.1371/journal.pone.0230503
Yasmeen, R., Padda, I. U. H., Yao, X., Shah, W. U. H., & Hafeez, M. (2021). Agriculture, forestry, and environmental sustainability: the role of institutions. Environment, development and sustainability, 24, 1–25. https://doi.org/10.1007/s10668-021-01806-1
Adebayo, T. S., Kartal, M. T., Ağa, M., & Al-Faryan, M. A. S. (2023). Role of country risks and renewable energy consumption on environmental quality: Evidence from MINT countries. Journal of environmental management, 327, 116884. https://doi.org/10.1016/j.jenvman.2022.116884
Sinha, A., Bekiros, S., Hussain, N., Nguyen, D. K., & Khan, S. A. (2023). How social imbalance and governance quality shape policy directives for energy transition in the OECD countries? Energy economics, 120, 106642. https://doi.org/10.1016/j.eneco.2023.106642
Zeraibi, A., Jahanger, A., Sunday Adebayo, T., Ramzan, M., & Yu, Y. (2023). Greenfield investments, economic complexity, and financial inclusion-environmental quality nexus in BRICS Countries: Does renewable energy transition matter? Gondwana research, 117, 139–154. https://doi.org/10.1016/j.gr.2022.12.020
Anu, Singh, A. K., Raza, S. A., Nakonieczny, J., & Shahzad, U. (2023). Role of financial inclusion, green innovation, and energy efficiency for environmental performance? Evidence from developed and emerging economies in the lens of sustainable development. Structural change and economic dynamics, 64, 213–224. https://ideas.repec.org/a/eee/streco/v64y2023icp213-224.html
Wei, D., Ahmad, F., Abid, N., & Khan, I. (2023). The impact of digital inclusive finance on the growth of the renewable energy industry: Theoretical and logical Chinese experience. Journal of cleaner production, 428, 139357. https://doi.org/10.1016/j.jclepro.2023.139357
Adams, S., & and Kaffo Fotio, H. (2024). Economic integration and environmental quality: accounting for the roles of financial development, industrialization, urbanization and renewable energy. Journal of environmental planning and management, 67(3), 688–713. https://doi.org/10.1080/09640568.2022.2131510
Hafeez, M., Chunhui, Y., Strohmaier, D., Ahmed, M., & Jie, L. (2018). Does finance affect environmental degradation: evidence from One Belt and One Road Initiative region? Environmental science and pollution research, 25, 9579–9592. https://doi.org/10.1007/s11356-018-1317-7
Nuţă, F. M., Sharafat, A., Abban, O. J., Khan, I., Irfan, M., Nuţă, A. C., … & Asghar, M. (2024). The relationship among urbanization, economic growth, renewable energy consumption, and environmental degradation: A comparative view of European and Asian emerging economies. Gondwana research, 128, 325–339. https://doi.org/10.1016/j.gr.2023.10.023
Usman, M., Makhdum, M. S. A., & Kousar, R. (2021). Does financial inclusion, renewable and non-renewable energy utilization accelerate ecological footprints and economic growth? Fresh evidence from 15 highest emitting countries. Sustainable cities and society, 65, 102590. https://doi.org/10.1016/j.scs.2020.102590
Zhang, J., Wang, B., & Latif, Z. (2019). Towards cross‐regional sustainable development: The nexus between information and communication technology, energy consumption, and CO2 emissions. Sustainable development, 27(5). https://doi.org/10.1002/sd.2000
Haseeb, A., Xia, E., Saud, S., Ahmad, A., & Khurshid, H. (2019). Does information and communication technologies improve environmental quality in the era of globalization? An empirical analysis. Environmental science and pollution research, 26, 8594–8608. https://doi.org/10.1007/s11356-019-04296-x
Amari, M., Mouakhar, K., & Jarboui, A. (2022). ICT development, governance quality and the environmental performance: avoidable thresholds from the lower and lower-middle-income countries. Management of environmental quality: an international journal, 33(2), 125–140. https://doi.org/10.1108/MEQ-12-2020-0299
Ahmed, K., & Ozturk, I. (2018). What new technology means for the energy demand in China? A sustainable development perspective. Environmental science and pollution research, 25, 29766–29771. https://doi.org/10.1007/s11356-018-2957-3
Gyamfi, B. A., Agozie, D. Q., Bekun, F. V., & Köksal, C. (2024). Beyond the environmental kuznets curve in south Asian economies: Accounting for the combined effect of information and communication technology, human development and urbanization. Environment, development and sustainability, 26(5), 11263–11288. https://doi.org/10.1007/s10668-023-03281-2
Musah, M., Boateng, F., Kumah, E. A., & Adebayo, T. S. (2024). Financial flows and environmental quality in ECOWAS member states: accounting for residual cross-sectional dependence and slope heterogeneity. Environment, development and sustainability, 26(1), 1195–1228. https://doi.org/10.1007/s10668-022-02755-z
Tanveer, A., Song, H., Faheem, M., Daud, A., & Safdar, N. (2024). Navigating the asymmetric influence of financial inclusion on environmental sustainability: Dynamic role of energy consumption and human capital. Energy & environment, 35(6), 3087–3115. https://doi.org/10.1177/0958305X231159439
Çetin, M., Sarıgül, S. S., Topcu, B. A., Alvarado, R., & Karataser, B. (2023). Does globalization mitigate environmental degradation in selected emerging economies? Assessment of the role of financial development, economic growth, renewable energy consumption and urbanization. Environmental science and pollution research, 30(45), 100340–100359. https://doi.org/10.1007/s11356-023-29467-9
Nathaniel, S. P., Nwulu, N., & Bekun, F. (2021). Natural resource, globalization, urbanization, human capital, and environmental degradation in Latin American and Caribbean countries. Environmental science and pollution research, 28, 6207–6221. https://doi.org/10.1007/s11356-020-10850-9
Mahmood, H., Alkahteeb, T. T., Al-Qahtani, M. M. Z., Allam, Z., Ahmad, N., & Furqan, M. (2020). Urbanization, oil price and pollution in Saudi Arabia. International journal of energy economics and policy, 10(2), 477–482. https://www.zbw.eu/econis-archiv/bitstream/11159/8313/1/1752195124_0.pdf
Acheampong, A. O. (2018). Economic growth, CO2 emissions and energy consumption: What causes what and where? Energy economics, 74, 677–692. https://doi.org/10.1016/j.eneco.2018.07.022
Chandra Voumik, L., Ridwan, M., Hasanur Rahman, M., & Raihan, A. (2023). An investigation into the primary causes of carbon dioxide releases in Kenya: Does renewable energy matter to reduce carbon emission? Renewable energy focus, 47, 100491. https://doi.org/10.1016/j.ref.2023.100491
Kocoglu, M., Awan, A., Tunc, A., & Aslan, A. (2022). The nonlinear links between urbanization and CO2 in 15 emerging countries: evidence from unconditional quantile and threshold regression. Environmental science and pollution research, 29(12), 18177–18188. https://doi.org/10.1007/s11356-021-16816-9
Chien, F., Hsu, C.-C., Zhang, Y., & Sadiq, M. (2023). Sustainable assessment and analysis of energy consumption impact on carbon emission in G7 economies: Mediating role of foreign direct investment. Sustainable energy technologies and assessments, 57, 103111. https://doi.org/10.1016/j.seta.2023.103111
Khan, Y., ShuKai, C., Hassan, T., Kootwal, J., & Khan, M. N. (2021). The links between renewable energy, fossil energy, terrorism, economic growth and trade openness: the case of Pakistan. SN business & economics, 1(9), 115. https://doi.org/10.1007/s43546-021-00112-2
Metrics
