The triple threat: How green technology innovation, green energy production, and financial development impact environmental quality?

Abstract

AbstractAn exponential and sustained increase in carbon emissions is worsening environmental quality and causing a global warming crisis. Climate change and global warming are now considered a major environmental threat to human civilization. The study, thus, intends to analyze the impact of green technological innovation, green energy production and financial development on environmental quality. For the analysis, the study uses two different measures of environmental quality: carbon emissions and ecological footprints. We collected panel data from various South Asian countries from 2000 to 2021. After observing the basic characteristics of data, we employ Fully Modified and Dynamic Ordinary Least Square models to examine the data. The study reports significant contributions of green energy production, green technological innovation, and financial development in determining environmental quality across the South Asian region. The study recommends increasing green energy production, technological innovation, and financial development to improve environmental quality.