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This study investigates the pivotal role of green strategies in achieving carbon neutrality by exploring the synergistic contributions of green finance, green technological innovation, and green energy adoption. The study has implemented several panel data estimation techniques including second generation panel unit root test commonly known as CADF and CIPS, an error correction-based panel cointegration test, for documenting the elasticities of GF, GTI, and GE on carbon neutrality through Continuously-Update Fully Modified[CUP-FM], Continuously-Update Bias-Corrected [CUP-BC], and Dynamic Seemingly Unrelated Regression [DSUR]. The asymmetric coefficients have exploded with the implementation of a nonlinear framework, which is well known as NARDL. Our findings underscore the significance of green finance mechanisms in mobilizing resources for sustainable initiatives, including renewable energy projects and energy-efficient technologies. Study shed light on the catalytic impact of green Technological innovation in driving technological advancements, reducing emissions, and fostering economic growth. Furthermore, our study delves into the transformative potential of clean energy adoption, elucidating how it can substantially reduce carbon footprints and bolster the transition to a low-carbon economy. This study contributes to the growing body of knowledge on the critical nexus of green strategies and carbon neutrality, offering a roadmap for a more sustainable and environmentally responsible future. In a world grappling with the pressing challenges of climate change, our research offers valuable insights into the strategies that institutions, policymakers, and businesses can employ to facilitate the transition toward carbon neutrality.
This study investigates the pivotal role of green strategies in achieving carbon neutrality by exploring the synergistic contributions of green finance, green technological innovation, and green energy adoption. The study has implemented several panel data estimation techniques including second generation panel unit root test commonly known as CADF and CIPS, an error correction-based panel cointegration test, for documenting the elasticities of GF, GTI, and GE on carbon neutrality through Continuously-Update Fully Modified[CUP-FM], Continuously-Update Bias-Corrected [CUP-BC], and Dynamic Seemingly Unrelated Regression [DSUR]. The asymmetric coefficients have exploded with the implementation of a nonlinear framework, which is well known as NARDL. Our findings underscore the significance of green finance mechanisms in mobilizing resources for sustainable initiatives, including renewable energy projects and energy-efficient technologies. Study shed light on the catalytic impact of green Technological innovation in driving technological advancements, reducing emissions, and fostering economic growth. Furthermore, our study delves into the transformative potential of clean energy adoption, elucidating how it can substantially reduce carbon footprints and bolster the transition to a low-carbon economy. This study contributes to the growing body of knowledge on the critical nexus of green strategies and carbon neutrality, offering a roadmap for a more sustainable and environmentally responsible future. In a world grappling with the pressing challenges of climate change, our research offers valuable insights into the strategies that institutions, policymakers, and businesses can employ to facilitate the transition toward carbon neutrality.
IntroductionThis study investigates the complex relationship between economic growth, remittances (REM), export earnings (EEs), infrastructural development (IFD), and environmental sustainability (ES) in Bangladesh over the period from 1990 to 2020. Framed within the context of the Environmental Kuznets Curve (EKC) hypothesis, the research explores how these factors influence environmental outcomes and contributes to ongoing discussions on sustainable development.MethodsUtilizing advanced time-series modeling techniques, including autoregressive distributed lag (ARDL) and nonlinear ARDL (NARDL), this study applies unit root tests and co-integration analysis to examine the data. These methods allow for a detailed assessment of both short- and long-term relationships between the variables in question.ResultsThe findings confirm the EKC hypothesis, showing that economic growth initially leads to increased carbon emissions and environmental degradation, but further development contributes to environmental improvements. Remittances, however, significantly exacerbate carbon emissions and ecological degradation. On the other hand, technological innovation (TI) demonstrates a negative association with carbon emissions and ecological footprint (EF), highlighting its potential in supporting sustainable development. The impacts of export earnings and infrastructural development on environmental sustainability are mixed, with infrastructural growth in particular linked to environmental degradation.DiscussionThe study's results underscore the importance of targeted policy interventions to balance economic growth with environmental sustainability. Policymakers should focus on mitigating the environmental impacts of remittance inflows and fostering technological innovation to achieve the Sustainable Development Goals (SDGs). While export earnings and infrastructural development play critical roles in economic progress, their environmental implications require careful management to ensure long-term sustainability.
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