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Several governance regulations have been adopted in European countries to promote environmental sustainability, such as environmental taxation and environmental disclosures in financial reports. In this context, this paper examines the linkage between environmental taxation, International Financial Reporting Standards (IFRS), and environmental sustainability in European countries from 1994 to 2018. Unlike earlier empirical studies, the present work is the first to assess the impact of environmental taxation and IFRS adoption on consumption-based carbon emissions. In order to yield valid and reliable outcomes, the modern econometric method that is vigorous to cross-sectional dependence and slope heterogeneity was employed. Likewise, the study uses the novel method of moment quantile regressions (MMQR). The MMQR outcomes illustrated that environmental taxation significantly negatively affects consumption-based emissions in European countries, indicating that environmental taxation has a positive effect on the ecological sustainability. Besides, the findings show that IFRS negatively affects consumption-based emissions, while economic growth positively affects the level of consumption-based emissions. Therefore, European governments must use fiscal and financial policies to mitigate ecological pollution. Moreover, more environmental, social, and governance (ESG) disclosure in European industries could also help promote environmental sustainability in European countries.

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The emergence of the covid-19 health crisis, in this advanced technological era where connections between markets, nations, and economies have grown stronger than ever before, the shock of the COVID-19 pandemic quickly had an impact on both physical and digital financial assets. The Chinese financial market experienced the first consequences of the covid-19 pandemic, then spilled over to other financial markets, including those for cryptocurrencies and the precious metals. This study examines the impact of the covid-19 pandemic on the volatilities of the dynamics of bitcoin and gold. Both assets share some characteristics, such as online trading platforms, however, gold is a tangible financial asset unlike bitcoin, which is digitally generated without any physical form. This study argues that the similarities and differences between bitcoin and gold play major roles in how the covid-19 crisis affected their respective dynamics. Using daily data ranging from 9/22/2014 to 1/31/2023 and employing ARMA as the mean equation for GARCH model, the impact of the health crisis (covid-19) is examined on the volatilities of the prices and volumes of bitcoin and gold. Empirical evidence points out that, the pandemic has a symmetric impact on the volatilities of bitcoin and gold price returns, causing them to be more volatile. The impact of the covid-19 observed on the volume returns of the assets, however, is asymmetrical. The empirical results give evidence to the role that the vital differences existing between these assets played during the covid-19 pandemic.

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The nations participating in the Belt and Road Initiative (BRI) are particularly vulnerable to the challenges posed by climate change due to their extensive trading activities. The need to protect the environment and mitigate the adverse impacts of climate change in these countries is of utmost importance. Therefore, this study contributes to the scientific understanding of this issue by examining the relationship between trade openness and environmental sustainability in 89 BRI countries from 1990 to 2020. Additionally, control variables, including economic growth, energy consumption, urbanization, industrialization, and foreign direct investment, are considered to address omitted variable bias issues. The study utilizes the Augmented Mean Group (AMG) and Common Correlated Effects Mean Group (CCEMG) regression estimators, and the findings reveal that trade openness improves environmental sustainability. However, economic growth, energy consumption, urbanization, and industrialization degrade environmental sustainability. Interestingly, the results affirm foreign direct investment as a trivial determinant of environmental sustainability. Regarding causal relationships, reciprocal causalities are observed between trade openness and carbon emissions, energy consumption and carbon emissions, and urbanization and carbon emissions. Furthermore, one-way causalities exist from economic growth to carbon emissions and from carbon emissions to foreign direct investment. Nevertheless, no causal relationship is identified between industrialization and carbon emissions. Based on these significant findings, it is recommended that China, as a prominent player in the BRI, takes further steps to enhance and promote energy-efficient practices in BRI countries. One practical approach is the establishment of energy efficiency standards for the goods and services traded with these countries.

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Background: This study sought to investigate the association between urbanicity (rural-urban residency), the use of solid biomass cooking fuels and the risk of Acute Respiratory Infections (ARIs) among children under the age of 5 in sub-Saharan Africa (SSA). Methods: Cross-sectional data from the most recent surveys of the Demographic and Health Survey Program conducted in 31 sub-Saharan African countries were pooled for the analysis. The outcome variables, cough and rapid short breath were derived from questions that asked mothers if their children under the age of 5 suffered from cough and short rapid breath in the past two weeks preceding the survey. To examine the associations, multivariable negative log-log regression models were fitted for each outcome variable. Results: Higher odds ratios of cough occurred among children in urban households that use unclean cooking fuel (aOR = 1.05 95% CI = 1.01, 1.08). However, lower odds ratios were observed for rural children in homes that use clean cooking fuel (aOR = 0.93 95% CI = 0.87, 0.99) relative to children in urban homes using clean cooking fuel. We also found higher odds ratios of short rapid breaths among children in rural households that use unclean cooking fuel compared with urban residents using clean cooking fuel (aOR = 1.12 95% CI = 1.08, 1.17). Conclusion: Urbanicity and the use of solid biomass fuel for cooking were associated with an increased risk of symptoms of ARIs among children under five years in SSA. Thus, policymakers and stakeholders need to design and implement strategies that minimize children's exposure to pollutants from solid biomass cooking fuel. Such interventions could reduce the burden of respiratory illnesses in SSA and contribute to the realization of Sustainable Development Goal 3.9, which aims at reducing the number of diseases and deaths attributable to hazardous chemicals and pollution of air, water and soil.

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International organizations have emphasized the importance of global economies supporting efforts to combat climate change. The Paris Agreement or Agenda 2050 urges nations to ensure that the increase in global temperature is limited to 1.5 °C. Studies have analyzed the factors that contribute to harmful emissions, particularly carbon dioxide emissions, in order to limit temperature rise. However, since there are other equally harmful pollutants, this study evaluates the impact of financial inclusion and green investment on reducing greenhouse gas emissions. The study uses data from West Africa, where environmental pollution has significantly increased. The study employed regression analysis while controlling for economic growth, foreign direct investment (FDI), and energy consumption. The study's key findings reveal that financial inclusion and green investment have a monotonic effect on reducing greenhouse gas emissions. Additionally, the study confirms the environmental Kuznets curve hypothesis and the pollution haven effect for the region. Technological innovation reduces pollution, but green investment and financial inclusion reinforce this effect. Therefore, the study recommends that governments in the sub-region commit to supporting green investment and environmentally friendly technological innovations. It is also crucial to strictly enforce laws regulating the operations of multinational corporations in the region.

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The Kingdom of Saudi Arabia has recently declared its vision of turning carbon neutral by 2060. This declaration has motivated policymakers in this Arab nation to design policies that can green economic activities in Saudi Arabia so that environmentally sustainable growth can be ensured. Against this backdrop, this study models the independent and joint effects of financial development, globalization, and energy efficiency rates on green growth of the Saudi Arabian economy. In this regard, green growth in the Kingdom of Saudi Arabia is proxied by the difference between the nation's annual per capita growth rates of gross domestic product and carbon dioxide emission. Utilizing data from 1972 to 2018 and controlling for structural break-induced problems found in the data, the findings from the regression and causality analyses confirm the green growth-inhibiting impacts of financial development and trade globalization. In contrast, greater financial globalization is evidenced to drive green growth in the Kingdom of Saudi Arabia. Furthermore, more efficient uses of energy resources are found to not only directly boost green growth but also partially neutralize the long-run green growth-dampening impacts associated with the development of the financial sector. In addition, financial development and trade globalization are observed to jointly inhibit green growth attainment both in the short and long run. In line with these important findings, it is recommended that the government of Saudi Arabia conceptualizes new green growth policies so that the nation's annual per capita economic growth rate outpaces its annual per capita growth rate of carbon dioxide emissions.

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Numerous explorations have been conducted on the determinants of Ghana's environmental quality. However, to the best of my knowledge, there has been no research on the connection between financial inclusion and environmental sustainability in the country. This study was therefore conducted to help fill that gap. In attaining the aforestated goal, econometric techniques that yield valid and reliable outcomes were engaged. From the results, all the series were first differenced stationary and cointegrated in the long run. The DARDL estimator with the support of the conventional ARDL estimator was adopted to explore the marginal effects of the predictors on the explained variable, and from the results, financial inclusion worsened environmental sustainability in the nation via high carbon emissions. Also, foreign direct investments degraded the country's ecological quality validating the pollution haven hypothesis. Finally, trade openness, population growth, and energy consumption were detrimental to environmental sustainability in the nation. On the causal directions amidst the series, unidirectional causalities from financial inclusion and trade openness to carbon effusions were disclosed. Also, feedback causalities between foreign direct investments and carbon emissions; between population growth and carbon effluents; and between energy consumption and carbon exudates were unfolded. The study recommended among others that, financial establishments should not fund the production of carbon-intensive goods, but those that are friendly to the environment. The government can also help to improve environmental sustainability by establishing regulations to mandate financial entities to engage in eco-friendly activities.

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Despite the considerable contributions of remittances to households and economic advancements, their environmental implications have received little attention in empirical research. This study was, therefore, conducted to help fill that gap, using Ghana as an evidence. In achieving the above goal, robust econometric methods that control for endogeneity, heteroscedasticity and serial correlation among others, were engaged for the analysis. From the results, the studied variables were first-differenced stationary and cointegrated in the long run. The elasticities of the predictors were explored via the FMOLS, DOLS and CCR estimators, and from the results, remittance inflows worsened the ecological quality in Ghana through high CO2 emissions. Also, population growth and energy utilization were not friendly to the country's environment; however, technological innovations improved environmental quality in the nation via low CO2 effusions. The VECM was employed to examine the path of causalities amidst the series, and from the results, there were bidirectional causalities between remittance inflows and CO2 emissions and between population growth and CO2 emanations. Also, a causation from energy utilization to CO2 effluents was discovered; however, there was no causality between technological innovations and CO2 exudates in the country. Based on the findings, it was recommended among others that, authorities should enact regulations to control the activities of polluting industries that are being financed by remittances. Also, households and individuals should minimize their use of remittances to finance carbon-intensive items, like automobiles and air-conditioners among others, that add to environmental pollution in the country.

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This study examined the nexus between energy consumption and environmental quality in light of China's 2060 carbon-neutrality agenda utilizing annual frequency data from 1971 to 2018. In order to obtain valid and reliable outcomes, more robust econometric techniques were employed for the analysis. From the results, all the variables were first differenced stationary and cointegrated in the long-run. The elastic effects of the predictors on the explained variable were explored through the ARDL, FMOLS, and the DOLS techniques, and from the discoveries, energy utilization worsened environmental quality in the country via more CO2 emissions. Also, industrialization and urbanization deteriorated the country's environmental quality; however, technological innovations improved ecological quality in the nation. On the causal connections between the variables, a unidirectional causality from energy consumption to CO2 effluents was discovered. Also, feedback causalities between industrialization and CO2 secretions, and between urbanization and CO2 exudates were disclosed. However, there was no causality between technological innovations and CO2 emanations. Based on the findings, the study recommended among others that, since energy consumption pollutes the environment, the country should transition to the utilization of renewable energies. Also, the government should allocate more resources to the renewable energy sector. This will help increase the portion of clean energy in the country's total energy mix. Furthermore, research and development that are linked to the utilization of green energies should be supported by the government. Data constraints were the main limitation of this exploration. Therefore, in the future, if more data become available, similar explorations could be conducted to check the robustness of our study's outcomes.

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This paper examined the nexus between economic growth, energy consumption, urbanization, population growth, and carbon emissions in the BRICS economies from 1990 to 2019. In order to yield valid and reliable outcomes, modern econometric techniques that are vigorous to cross-sectional dependence and slope heterogeneity were employed. From the findings, the studied panel was heterogeneous and cross-sectionally dependent. Also, all the series were first differenced stationary and co-integrated in the long run. The Augmented Mean Group (AMG) and the Common Correlated Effects Mean Group (CCEMG) estimators were employed to estimate the elastic effects of the predictors on the explained variable, and from the output of both estimators, energy consumption worsened environmental quality via high carbon emissions. Also, the AMG estimator affirmed economic growth to be a significantly positive determinant of carbon emissions. However, both estimators confirmed urbanization and population growth as trivial predictors of the emissivities of carbon. On the causal connections amidst the series, there was bidirectional causality between economic growth and carbon emissions, between energy consumption and economic growth, between economic growth and population growth, between energy consumption and urbanization, and between economic growth and urbanization. Lastly, a causation from urbanization to carbon emissions was unfolded. Policy implications are further discussed.

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One of the most commonly debated concerns regarding foreign direct investment inflows is the associated environmental adversities that accompany the influx of foreign funds. As a result, assessing the environmental impacts of foreign direct investment inflows is necessary for achieving environmentally friendly economic growth in the contemporary era. Accordingly, the global economies including the members of the Group of Twenty (G-20) should focus on attracting clean foreign direct investments. Against this backdrop, controlling for energy consumption and urbanization, this extant study scrutinizes the effects of foreign direct investment inflows on the carbon dioxide emission figures of selected G-20 countries between 1992 and 2018. The econometric analysis conducted in this paper involves recently developed methods that are efficient in handling cross-sectionally dependent heterogeneous panel data sets. Besides, the analysis is also conducted for sub-panels of high-, upper-middle-, and lower-middle-income G-20 countries to evaluate the possible heterogeneous environmental effects across the G-20 countries belonging to different income levels. Overall, the results highlight that higher foreign direct investment inflows surge carbon dioxide emissions whereby the pollution haven hypothesis is evidenced to hold for the G-20 nations of concern. Similarly, both at the aggregated and disaggregated levels, greater consumption of energy is witnessed to boost carbon dioxide emissions in the long run. Moreover, urbanization is found to trigger carbon dioxide emissions for the G-20 nations overall and the lower-middle-income G-20 nations. Further, the causality analysis reveals that carbon dioxide emissions have bidirectional causal relationships with foreign direct investment inflows, energy consumption, and urbanization. In line with these major findings, this study recommends that the governments of the G-20 countries inhibit inflows of dirty foreign direct investments, reduce fossil fuel dependency, and adopt green urbanization policies for achieving higher economic growth without marginalizing environmental well-being.

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Numerous studies have examined the influence of macroeconomic factors on environmental quality in Ghana. However, to the best of our knowledge, there has been no study on the connection between green investments, financial development, and environmental quality in the context of this Sub-Saharan African country. This study was therefore conducted to help fill this gap using annual frequency time series data ranging from 1970 to 2018. In attaining the objectives of this study, robust econometric techniques were employed. From the results, all the variables were first differenced stationary and cointegrated in the long run. The dynamic ARDL simulations technique with the support of the ARDL estimator was employed to examine the elastic effects of the predictors on the response variable, and from the discoveries, green investments improved environmental quality in Ghana both in the long and the short run via carbon dioxide mitigations. However, in both the long and the short run, financial development and energy utilization had a detrimental influence on environmental quality due to their positive influence on carbon dioxide emissions. Moreover, the N-shaped association between national income and environmental pollution was validated for Ghana. On the causal directions amidst the variables, there was no causality between green investments and environmental degradation was evidenced; however, a bidirectional causality between financial development and environmental pollution was also discovered. Also, unidirectional causalities running from national income and energy consumption to environmental degradation were discovered. Based on the findings, the study recommend that investments in green sources should be intensified to help improve environmental quality in Ghana. Furthermore, improving developments in the financial sector is a vital means through which the country could attain its sustainable development goals.

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