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Sustainable Central Asia: Impact of fintech, natural resources, renewable energy, and financial inclusion to combat environmental degradation and achieving sustainable development goals

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  • Jie, Yu
  • Rasool, Zeeshan
  • Nassani, Abdelmohsen A.
  • Mattayaphutron, Suchira
  • Murad, Muhammad

Abstract

The prime objective of the current study is to investigate the impact of financial inclusion, fintech, natural resources rent and renewable energy consumption on the CO2 emission of Cemental Asian countries. The study is carried out on the sample of Central Asian Countries over the period of 20 years from 2000 to 2019.The Central Asian states predominantly rely on coal as their primary fuel source for electricity generation. Coal served as the predominant fuel for power generation in Kazakhstan during the year 2020. Over 50% of Kyrgyzstan's electricity needs are met by coal. Uzbekistan and Tajikistan are coal-producing nations. The study has employed the NL-ARDL estimate to examine the hypothesis relationships, and the results of the study reveal that factors such as financial inclusion, Fintech, natural resource rent and renewable energy has significant impact on CO2 emission. The findings of the study also have a significant impact on the policy implications and long-term viability of Central Asian nations. These policies should be in accordance with SDG7 (Affordable and Clean Energy) and 13 (Climate Action). Central Asia's policymakers should balance economic benefits with environmental risks when extracting natural resources, emphasizing responsible resource management in line with SDG 15 (Life on Land), ensuring a balance between potential economic benefits and environmental risks.

Suggested Citation

  • Jie, Yu & Rasool, Zeeshan & Nassani, Abdelmohsen A. & Mattayaphutron, Suchira & Murad, Muhammad, 2024. "Sustainable Central Asia: Impact of fintech, natural resources, renewable energy, and financial inclusion to combat environmental degradation and achieving sustainable development goals," Resources Policy, Elsevier, vol. 95(C).
    • Handle: RePEc:eee:jrpoli:v:95:y:2024:i:c:s0301420724005051
    DOI: 10.1016/j.resourpol.2024.105138
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