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Nexus of financial management, blockchain, and natural resources: Comparing the impact on environmental sustainability and resource productivity

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  • Li, Nannan
  • Gu, Zhenjing
  • Albasher, Gadah
  • Alsultan, Nouf
  • Fatemah, Ambreen

Abstract

In recent years, with a rise in climate change, the notion of sustainable development and resource productivity has received a lot of attention around the world. Meanwhile, advances in artificial intelligence based financial management and the creation of new blockchains or cryptocurrencies have transformed the day-to-day operations of economic actors. The aim of the present study is to investigate the impact of financial management and blockchains on environmental sustainability and resource productivity. The monthly time series data of the United States of America economy data is used covering the period from 2000M01–2022M09. Firstly, the stationary variable is tested using the Augmented Dickey-Fuller and Phillips-Perron tests. The findings reveal that all the variables follow I(1). The long-term estimations are investigated through the Fully Modified Ordinary Least Squares. The findings reveal that artificial intelligence-based financial management helps to improve environmental sustainability and resource productivity by reducing carbon emissions and increasing combustible and renewable waste, metals, and non-metallic minerals resources in the long run. In addition, blockchain technology appears to be a booster for environmental unsustainability while also reducing metallic resources. These findings are particularly important and critical since they indicate the path to achieving Sustainable Development Goals. Overall, the findings imply that the United States of America authorities should continue to push AI-based sustainability models and move to green blockchains in order to mitigate the negative environmental effects of blockchains.

Suggested Citation

  • Li, Nannan & Gu, Zhenjing & Albasher, Gadah & Alsultan, Nouf & Fatemah, Ambreen, 2023. "Nexus of financial management, blockchain, and natural resources: Comparing the impact on environmental sustainability and resource productivity," Resources Policy, Elsevier, vol. 83(C).
    • Handle: RePEc:eee:jrpoli:v:83:y:2023:i:c:s0301420723004415
    DOI: 10.1016/j.resourpol.2023.103730
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