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Given the significance of fostering sustainable climate conditions for long-term economic stability and financial resilience, this study probes the connection between climate-related policy ambiguity and its implications for currency valuation. In doing so, the current study investigates the interconnected effects of climate policy on economic policy uncertainty and geopolitical risk with the currency valuation in ASEAN countries. Employing wavelet coherence analysis and partial wavelet coherence analysis, the paper highlights the complex relationships among these factors and their implications for exchange rate fluctuations. Using data from 2000 to 2022, the findings reveal that climate policy uncertainty is an important driver of exchange rate movements, amplifying the impact of economic policy uncertainty and geopolitical risk. Furthermore, the study identifies a vicious cycle between climate policy uncertainty and exchange rates, potentially impacting the region's macroeconomic stability and long-term economic growth. The study presents several policy recommendations to address economic and climate policy uncertainties comprehensively based on the findings. These recommendations include establishing national frameworks for climate risk management, enhancing policy credibility and macroeconomic stability, and promoting regional integration to mitigate the influence of geopolitical risk on exchange rates.

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The BRICS nations-Brazil, Russia, India, China, and South Africa-have grown significantly in importance over the past few decades, playing a vital role in the development and growth of the global economy. This expansion has not been without cost, either, since these countries' concern over environmental deterioration has risen sharply. Both researchers and decision-makers have focused a lot of attention on the connection between economic growth and ecological sustainability. By using nonlinear autoregressive distributed lag (NARDL) approach, the complex relationships were analyzed between important economic indicators-such as gross domestic product (GDP), ecological innovations (EI), energy consumption (ENC), institutional performance (IP), and trade openness (TOP)-and their effect on carbon emissions and nitrous oxide emissions in the BRICS countries from 1990 to 2021, this study seeks to contribute to this important dialog. Principal component analysis is formed for technological innovations and institutional performance using six (ICT service exports as a percentage of service exports, computer communications as a percentage of commercial service exports, fixed telephone subscriptions per 100 people, internet users as a percentage of the population, number of patent applications, and R&D expenditures as a percentage of GDP) and twelve (government stability, investment profile, socioeconomic conditions, internal conflict, external conflict, military in politics, control of corruption, religious tensions, ethnic tensions, law and order, bureaucracy quality, and democratic accountability) distinct indicators, respectively. The results of nonlinear autoregressive distributed lag estimation show that increase in economic growth would increase carbon dioxide and nitrous oxide emissions. The positive and negative shocks in trade openness have positive and significant impact on carbon dioxide and nitrous oxide emissions in BRICS countries. Furthermore, the positive shock energy consumptions have positive and significant effect on Brazil and India when carbon dioxide and nitrous oxide emissions are used. However, EKC exists in BRICS countries when carbon dioxide and nitrous oxide emissions are used. According to long-term estimation, energy consumption and technological innovations in the BRICS countries show a strong and adverse link with nitrous oxide and a favorable relationship with carbon dioxide emissions. In the long run, environmental indicators are seen to have a major and unfavorable impact in BRICS nations. Finally, it is proposed that BRICS nations can assure environmental sustainability if they support creative activities, enhance their institutions, and support free trade policies.

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The foremost purpose of the study is to establish a point that an economy of G-7 countries has an abundance of resources to tackle the environmental changes that occur in the world, but these countries are still behind the line because in this modern era, environmental performance changes their shape, dimension, and nature very frequently and create a huge impact on globalization of world economy. To fill this gap, we use green investment, institutional quality, and economic growth on environmental performance for this, we use four proxies for green investment and three proxies for greenhouse gas, and we also use six proxies of institutional quality to do this using period of 1997 to 2021. Moreover, we have used the panel nonlinear autoregressive distributed lag method to evaluate the long-run and short-run asymmetric effects of green investment, institutional quality, and economic growth on greenhouse gas emissions. The findings of the study affirm that the positive change of green investment has a positive and significant relationship with environmental performance, while the negative change of green investment has a significant and positive influence with environmental performance in the long run. Furthermore, the outcomes demonstrate that the positive shock of institutional quality has a positive and significant relationship with environmental performance, while the negative shock of intuitional quality has a significant and positive association with environmental performance in the long run, whereas positive change in economic growth has a positive and significant with the environmental performance, while the negative change of economic growth has a positive effect with environmental performance in the long run. This study finds future precautions that institutional quality has to perform exceptionally and shows results very rapidly, while green investment with economic growth has also made a deadly combination to control greenhouse gas emission, so the role of G-7 countries is pretty clear and straight. Furthermore, it is suggested that governments and policymakers take a proactive stance to promote resource acquisition and investment across all industries. To reduce gas emissions, public interest might also be complementary to private ones. So, economic policymakers, specifically in G-7 countries, should consider strategies that support sustainable economic growth.

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Energy is one of the prime factors in influencing the sustainable development of a country. Different energy sources play important roles in driving the income growth of different economic sectors such as industrial, agricultural, and services. Fossil fuels, however, have come under strong criticism for actively accelerating climate change. As such, it is imperative to investigate the contributions of various energy sources toward sustainable growth. With Malaysia as the test-bed, the present study analyzes the impact of energy prices on economic stability using the novel wavelet-based analysis. Specifically, the study analyzed the impact of crude oil, natural gas, and gasoline prices on the economic (brown) and green growth from 1995 to 2020. The results show that in continuous wavelet transform, the cone of influence of all five factors exhibits strong short-run variance and fluctuations from 2005 to 2013. However, the intensity of brown growth is more influential than green growth. Similarly, in wavelet coherence graphs, the downward right arrows indicate positively significant associations between crude oil prices, natural gas prices, and gasoline prices with brown and green growth. Additionally, wavelet-based Granger causality reveals a bidirectional causal relationship between all variables. The results thus strongly suggest that energy prices predominantly affect the economic (brown) and green growth progression of the Malaysian economy. The study concludes with some suggested implications to augment the country's sustainable growth.

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Environmental sustainability is an umbrella approach depending on various climatic and economic policies. In doing so, the current study empirically evaluates the role of green finance, eco-innovation, and environmental policy stringency on the ecological footprint in China. To meet the objectives, the novel quantile autoregressive distributed lag (QARDL) approach was employed from 2000 to 2017. The outcomes reveal heterogeneous associations between the proposed variables. Manifestly, the QARDL estimation results demonstrate a positive impact between eco-innovation, green finance, and environmental policy stringency with the ecological footprints of China; however, the extent of the relationship is quantile dependent. The outcomes are further validated through the Wald test of parameter constancy. The bi-direction causality is observed among all variables at several quantiles. The current study offers policymakers helpful suggestions on enhancing the positive effects of environmentally supported innovation, green finance, and stringent environmental policies on the ecosystem.

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Equity markets are prone to several external factors, especially in the lethal pandemic situation when the uncertainty regarding the spread of the COVID disrupts the daily financial and economic activities along with the sharp decline in the oil price causing severe devastations to people not just in terms of life and health but also in the form of finance. Therefore, to assess the presence of empirical association of the oil price, Covid-19, and news-based uncertainty with the equity market condition, the method of QARDL was applied in the current investigation. The results revealed that the relationship of OIL was found to be positive and significant across all of the quantiles of the Stock Price Index (SPI); news-based uncertainty was found to be negative and significant across all of the quantiles of SPI, whereas COVID19 has the negative and significant impact on SPI only in the bearish and stable market conditions. Based on the findings, balance government interventions are recommended, balancing the generation of economic activities and counter COVID spread.

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Given the alarming deterioration of the environment, the present analysis investigates the role of eco-innovation, natural resources and financial development in influencing the environmental degradation of China. Applying the novel method of quantile ARDL, the current research is beneficial in portraying the dependence patterns of the variables with special emphasis on the nexus of eco-innovation and ecological footprint across numerous quantiles of the distribution which has not been examined so far in the literature. The empirical findings reveal that in the long run, eco-innovation reduces the level of ecological deterioration in China across all quantiles. On the other hand, the results suggest that the increase in credit to the private sector and natural resource rents augments environmental degradation. The outcomes imply that the over-dependence on natural resources and financial development can worsen the goals of sustainable development in China if the strategies of conservation and management are ignored. Moreover, witnessing the favorable role of eco-innovation, competent policies and regulations can be made toward sustainable efficient technologies and eco-friendly energy sources to halt global warming.

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A key objective of renewable energy development in the USA is to reduce CO2 emissions by decreasing reliance on fossil fuels in the coming decades. Using quantile-on-quantile regressions, this research examines the relationship between disaggregated sources of renewable energy (biomass, biofuel, geothermal, hydroelectric, solar, wind, wood, and waste) and CO2 emissions in the USA during the period from 1995 to 2017. Our findings support the deployment of various types of renewables in combating CO2 emissions for each quantile. In particular, a negative effect of renewable energy consumption on CO2 emissions is observed for the lower quantiles in almost all types of renewables. The effect of all the renewable energy sources taken together is significant for the lower and upper quantiles of the provisional distribution of CO2 emissions. The effect of renewable energy becomes stronger and more significant in the middle quantiles, where a pronounced causal effect of return and volatility is detected for the lower and upper middle quantiles. At the same time, heterogeneity in the findings across various types of renewable energy sources reveals differences in the relative importance of each type within the energy sector taken as a whole. Future US initiatives in renewable energy deployment at both the federal and the state levels should take into consideration the relative importance of each type, so as to maximize the efficacy of renewable energy policies in combating CO2 emissions.

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This paper uses the quantile autoregressive distributed lag (QARDL) model to analyze the impact of economic growth, tourism, transportation, and globalization on carbon dioxide (CO2) emissions in the Malaysian economy. The QARDL model is employed utilizing quarterly data from 1995Q1 to 2018Q4. The results demonstrate that economic growth is significantly positive with CO2 emissions at lower to upper quantiles. Interestingly, tourism has a negative effect on CO2 emissions at higher quantiles. Moreover, globalization and transportation services are positive, with CO2 emissions at upper-middle to higher quantiles. Furthermore, we tested the environmental Kuznets curve, and the outcomes confirm the presence of the inverted U-shaped curve in the Malaysian economy. The results of this study suggest that ecotourism is beneficial for economic growth in underdeveloped areas; it increases employment opportunities and, thus, achieves a win-win situation for protection and development. The government should encourage the low-carbon development of ecotourism and achieve green development of both tourism and the economy.

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This study examines the association between transportation services (i.e., passenger and freight) and carbon emissions concerning the US economy. The monthly data for this study were collected for the period from 2000 M1 to 2019 M8. In this study, QARDL econometric approach as discussed by Cho et al. (2015) has been used to tests the relationship between transportation services and CO2 emissions. Due to the chaotic and nonlinear behavior of our concerning variables, it was quite difficult to gauge the principle properties of their variations. Therefore, we relied on QARDL, which has been missing in previous researches. By utilizing the QARDL method, this research assesses the long-term stability of the nexus across the quantiles to provide an econometric framework that is more flexible than the traditional ones. In particular, the authors have analyzed how the quantiles of transportation (i.e., passenger and freight) influence the quantiles of CO2 emissions (environmental degradation). The empirical evidence revealed the negative significant relationship of both the transportation system (i.e., passenger and freight) with carbon emissions; however, this relationship holds at low quantiles of freight transport, whereas the same relationship has been observed at the majority of quantiles of passenger transport. So, this depicts that the transportation system of the USA helps to reduce CO2 emissions. Therefore, to maintain this situation, the government shall introduce more technologies that are fuel-efficient and promote clean consumption, thus reducing CO2 emissions, boosting economic growth, and making green transportation services.

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Globalization persists the tendency to alter numerous aspects of today's world including religion, transport, language, living styles, and international relations; however, its potential to influence quality of environment is the prime concern for trade and environmental policies guidelines (Audi and Ali 2018). In response to the growing interest for identifying the dynamic relationship between globalization and environmental performance, the present study seeks to investigate the critical link between globalization and ecological footprints in top 15 globalized countries between 1970 and 2016. Applying the novel methods of quantile-on-quantile regression (QQ) and Granger causality in quantiles, the findings examine the manners in which quantiles of globalization affect the quantiles of ecological footprints and vice versa. The empirical results suggest that globalization has a long-term positive effect on ecological footprint and vice versa in case of Belgium, the Netherlands, Sweden, Switzerland, Denmark, Norway, Canada, and Portugal. On the other hand, the estimated results indicate a negative effect between globalization and ecological footprint in the case of France, Germany, the UK, and Hungary. These results extend the recent findings on the globalization-environment nexus implying that the magnitude of relationship among both variables varies with countries demanding individual focus and cautions for postulating environmental and trade policies.

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