Nexus between green technology innovation, green financing, and CO2 emissions in the G7 countries: The moderating role of social globalisation

Policymakers face a daunting task when it comes to achieving sustainable environmental development and avoiding additional environmental degradation. This study examines the significance of green technology innovation and green financing in creating a more sustainable environment. The impact of gree...

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Veröffentlicht in:Sustainable development (Bradford, West Yorkshire, England) West Yorkshire, England), 2022-12, Vol.30 (6), p.1934-1946
Hauptverfasser: Sharif, Arshian, Saqib, Najia, Dong, Kangyin, Khan, Syed Abdul Rehman
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container_end_page 1946
container_issue 6
container_start_page 1934
container_title Sustainable development (Bradford, West Yorkshire, England)
container_volume 30
creator Sharif, Arshian
Saqib, Najia
Dong, Kangyin
Khan, Syed Abdul Rehman
description Policymakers face a daunting task when it comes to achieving sustainable environmental development and avoiding additional environmental degradation. This study examines the significance of green technology innovation and green financing in creating a more sustainable environment. The impact of green technology innovation and green investment on carbon dioxide (CO2) emissions has yet to be empirically and theoretically examined in the literature, especially in conjunction with a moderating component, particularly social globalisation. Accordingly, this research examines the role of green technological innovation and green financing in reducing CO2 emissions in the G7 countries. Our study uses empirical research data from a panel of the G7 countries covering the period 1995 to 2019. We employ advanced panel approaches to address panel data analysis concerns, such as cross‐sectional dependence, structural break, and slope heterogeneity (the Banerjee and Carrion‐i‐Silvestre unit root and cointegration test and cross‐sectional augmented ARDL). This study shows that green technology innovation (GINV) as well as green financing (GFIN) have a negative but significant impact on CO2 emissions. Whilst economic growth has shown a positive and significant impact on CO2 emissions in the G7 countries, social globalisation positively moderates the relationship between CO2 emissions and GDP, but negatively and significantly causes GFIN and GINV with CO2 emissions amongst the G7 countries. According to our study, countries would be able to meet the United Nations' SDG‐7 and SDG‐13 targets if they implemented green financing and green technology policies.
doi_str_mv 10.1002/sd.2360
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source Wiley Online Library Journals Frontfile Complete; PAIS Index; Business Source Complete
subjects Carbon dioxide
Carbon dioxide emissions
Carrion
Clean technology
CO2 emission
Data analysis
Economic development
Economic growth
Emissions
Empirical analysis
Environmental degradation
Environmental policy
Financing
G7 countries
Globalization
Green economy
green financing
green technology innovation
Heterogeneity
Impact analysis
Industrialized nations
Innovations
Panel data
Policy making
Research methodology
social globalisation
Sustainability
Sustainable development
Technological change
Technology policy
title Nexus between green technology innovation, green financing, and CO2 emissions in the G7 countries: The moderating role of social globalisation
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