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Financial inclusion empowering sustainable technologies: Insights into the E-7 economies from COP28 perspectives

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  • Gao, Song
  • Zhu, Yating
  • Umar, Muhammad
  • Kchouri, Bilal
  • Safi, Adnan

Abstract

COP28 highlighted the essential interplay between financial inclusion and sustainable technologies in driving effective climate action. This strategy underscores the importance of aligning financial systems with technological innovations to mitigate environmental pollution and achieve net-zero carbon emissions. The limited availability of funds, however, continues to hinder growth and widespread adaptation of technological advancement, and a significant research gap pertaining to the financial inclusion still remains. In order to address this gap; this study investigates the role of financial inclusion and technological advancement in the context of environmental pollution for the E-7 countries. In this regard, the results of the cointegration analyses show evidence of long-term relationships between TA, Financial inclusion, and environmental degradation. Moreover, the results of our study also show that financial inclusion positively influences carbon emissions. However, financial inclusion is a substantive moderator that tends to intensify the negative association between TA and CO2 emissions. In addition to this, our results also show that energy productivity and technological advancement significantly reduce CO2 emissions and enhance the quality of the environment. Our study also uncovers the positive correlations between GDP, trade openness and carbon emissions, thus signaling towards their adverse effect on the environment.

Suggested Citation

  • Gao, Song & Zhu, Yating & Umar, Muhammad & Kchouri, Bilal & Safi, Adnan, 2024. "Financial inclusion empowering sustainable technologies: Insights into the E-7 economies from COP28 perspectives," Technological Forecasting and Social Change, Elsevier, vol. 201(C).
    • Handle: RePEc:eee:tefoso:v:201:y:2024:i:c:s0040162523008624
    DOI: 10.1016/j.techfore.2023.123177
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    Citations

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    Cited by:

    1. Sun, Yihan & Wu, Yizhen & Lin, Shiwei, 2024. "Global perspective of sustainable development: The role of mineral resources, technological advancement and renewable investments," Resources Policy, Elsevier, vol. 90(C).
    2. Ma, Wei & Wu, Tong & Stan, Sebastian-Emanuel & Gao, Bin, 2024. "Ensuring environment sustainability through natural resources, renewable energy consumption, and inflation dynamics," Resources Policy, Elsevier, vol. 90(C).
    3. Hassan, Hassan & Tian, Shanwu & Safi, Adnan & Umar, Muhammad, 2024. "Climate commitments and financial moderation: A deep dive into renewable energy's influence on OECD carbon footprints," Economic Analysis and Policy, Elsevier, vol. 81(C), pages 1484-1495.
    4. Wang, Jialu & Mishra, Shekhar & Sharif, Arshian & Chen, Huangen, 2024. "Dynamic spillover connectedness among green finance and policy uncertainty: Evidence from QVAR network approach," Energy Economics, Elsevier, vol. 131(C).
    5. Zhou, Xiaomeng & Chen, Huangen & Mirza, Nawazish & Safi, Adnan, 2024. "Greening mineral resources extraction: A pathway to carbon neutrality through energy productivity and institutional reform," Resources Policy, Elsevier, vol. 91(C).
    6. Hao, Linna & Meng, Qin & Umar, Muhammad & Long, Chi, 2024. "Mineral resources and intellectual capital: Asymmetrical impacts and sustainable development outcomes," Resources Policy, Elsevier, vol. 91(C).
    7. Chu, Chien-Chi & Yunis, Manal & Huang, Xiying & Mi, Yingye & Wu, Yida & Ji, Yun, 2024. "Examining the nexus of mineral resources, technology adoption, and economic expansion in advancing sustainable development in OECD economies," Resources Policy, Elsevier, vol. 91(C).
    8. Zhong, Yufei & Chen, Xuesheng & Yao, Xuehui & Wang, Zhixian & Chang, Hsu-Ling, 2024. "Natural resources and the trilemma of financial development, institutions, and markets: Sustainable development pathway via natural resources for China," Resources Policy, Elsevier, vol. 90(C).
    9. Safi, Adnan & Kchouri, Bilal & Elgammal, Walid & Nicolas, Melhim Khoury & Umar, Muhammad, 2024. "Bridging the green gap: Do green finance and digital transformation influence sustainable development?," Energy Economics, Elsevier, vol. 134(C).

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