Relationship between natural resources, economic growth, and carbon emissions: The role of fintech, information technology and corruption to achieve the targets of COP-27

This study delves into the significant consequences of widespread natural resource exploitation in steering G-20 countries away from the carbon control goals set in COP-27. The investigation of resources and carbon emissions relationship by controlling information technology, financial technology (Fintech), and corruption factors reveals interesting outcomes. In this investigation, we employ panel data spanning from 2000 to 2021 for G-20 countries. The study examines the connection between carbon emissions and natural resource utilization using the Cross-Sectional Autoregressive Distributed Lag (CS-ARDL) methodology. The study's findings after controlling the role of information technology, Fintech, and corruption reveal ample pieces of evidence that the rents from natural gas, oil, and forest resources generate a larger portion of financial resources, and contribute significantly to controlling environmental risks, especially the dangers due to the alarming increase in CO2 emissions. Additionally, an inverted U-shaped relationship between carbon emissions and economic growth is indicated by the empirical findings. In conclusion, we provide pertinent recommendations aimed at steering G-20 economies toward achieving the targets set forth in COP-27. These recommendations primarily focus on mitigating the excessive consumption of natural resources, thereby fostering environmental sustainability.