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Impact of Financial Inclusion, Globalization, Renewable Energy, ICT, and Economic Growth on CO 2 Emission in OBOR Countries

Author

Listed:
  • Raymondo Sandra Marcelline Tsimisaraka

    (Business School, Huanggang Normal University, Huanggang 438000, China)

  • Li Xiang

    (Business School, Huanggang Normal University, Huanggang 438000, China)

  • Andriandafiarisoa Ralison Ny Avotra Andrianarivo

    (Business School, Zhejiang Wanli University, Ningbo 315104, China)

  • Eric Zonia Josoa

    (Public Administration Department, Ecole Normal D’Administration, Antananarivo 101, Madagascar)

  • Noheed Khan

    (Department of Management Sciences, Alhamd Islamic University, Islamabad 44000, Pakistan
    Faculty of Business Administration, Accountability and Economics, Federal University of Goias, Goiânia 74690-900, Brazil)

  • Muhammad Shehzad Hanif

    (UCP Business School, University of Central Punjab, Lahore 54590, Pakistan
    Center for Post Graduate Studies, Infrastructure University Kuala Lumpur, Kajang 43000, Malaysia)

  • Aitzaz Khurshid

    (UCP Business School, University of Central Punjab, Lahore 54590, Pakistan)

  • Ricardo Limongi

    (Faculty of Business Administration, Accountability and Economics, Federal University of Goias, Goiânia 74690-900, Brazil)

Abstract

This study examines the short-term and long-term effects of various important determinants such as financial inclusion (FI), information and communication technology (ICT), renewable energy (RE), globalization (GOB), and economic growth (EG) on CO 2 emissions in the top 10 emitter countries in the OBOR region based on the collected data for the years 2004 to 2019. This study employed the CS-ARDL technique. Findings demonstrate a strong relationship between FI, ICT, and CO 2 emissions in both the long-term and short-term. Renewable sources of energy have been found to have a CO 2 emission reduction effect, both in the long and short term. In the long run, there is a negative connection between globalization and CO 2 emissions; however, in the short run, this connection is inconsequential, while economic growth (EG) has a positive association with CO 2 emission. The development of ICT infrastructure carries the potential to directly mitigate the detrimental effects of CO 2 emissions while also playing an important role in raising people’s environmental consciousness. OBOR countries should welcome and encourage clean and green foreign investment that provides technical skills, environmental technology development, and carbon-free processes.

Suggested Citation

  • Raymondo Sandra Marcelline Tsimisaraka & Li Xiang & Andriandafiarisoa Ralison Ny Avotra Andrianarivo & Eric Zonia Josoa & Noheed Khan & Muhammad Shehzad Hanif & Aitzaz Khurshid & Ricardo Limongi, 2023. "Impact of Financial Inclusion, Globalization, Renewable Energy, ICT, and Economic Growth on CO 2 Emission in OBOR Countries," Sustainability, MDPI, vol. 15(8), pages 1-16, April.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:8:p:6534-:d:1121739
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    2. Busra Agan & Mehmet Balcilar, 2023. "Unraveling the Green Growth Matrix: Exploring the Impact of Green Technology, Climate Change Adaptation, and Macroeconomic Factors on Sustainable Development," Sustainability, MDPI, vol. 15(11), pages 1-20, May.
    3. Raihan, Asif, 2023. "Economy-energy-environment nexus: The role of information and communication technology towards green development in Malaysia," Innovation and Green Development, Elsevier, vol. 2(4).

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