IDEAS home Printed from https://ideas.repec.org/a/wly/sustdv/v31y2023i4p3144-3160.html
   My bibliography  Save this article

Estimating the dynamic environmental footprints of the global finance and business sector towards sustainable development goals

Author

Listed:
  • Xi Chen
  • Chenyang Shuai
  • Bu Zhao

Abstract

The global finance and business is a trillion‐dollar sector whose final demand drives a significant amount of economic production and services in other sectors through trade systems. As economic production and services have a significant impact on the environment, they play a fundamental role in supporting the global sustainable development goals (SDGs). Despite this, little attention has been paid to environmental impact driven by the final demand of global finance and business sector (i.e., environmental footprint). In this paper, we estimated the carbon dioxide (CO2), sulfur dioxide (SO2) and particular matter 10 (PM10) footprints of finance and business sector of 187 economies from 2000 to 2016 using a global multi‐regional input–output model. Our results show that global environmental footprints peaked 10 years ago, and the latest CO2, SO2 and PM10 footprints are approximately 1371, 8.2 and 6.1 million tons, respectively. We also found that 99% of environmental footprints originate from 20% economy‐sectors, and the critical economy‐sectors are identified. In addition, policy interventions on environmental intensity, production efficiency and trade network for mitigating the environmental footprints are proposed as well. Our findings provide a holistic and dynamic picture of the environmental footprints of the global finance and business sector.

Suggested Citation

  • Xi Chen & Chenyang Shuai & Bu Zhao, 2023. "Estimating the dynamic environmental footprints of the global finance and business sector towards sustainable development goals," Sustainable Development, John Wiley & Sons, Ltd., vol. 31(4), pages 3144-3160, August.
    • Handle: RePEc:wly:sustdv:v:31:y:2023:i:4:p:3144-3160
    DOI: 10.1002/sd.2617
    as

    Download full text from publisher

    File URL: https://doi.org/10.1002/sd.2617
    Download Restriction: no
    File URL: https://libkey.io/10.1002/sd.2617?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wly:sustdv:v:31:y:2023:i:4:p:3144-3160. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://onlinelibrary.wiley.com/journal/10.1002/(ISSN)1099-1719 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.