Fintech, natural resource abundance, environmental regulations and energy consumption in BRICST and G7 economies: Empirical evidence from novel climate change index

Ma B., DESTEK M. A., Shahzad L., Bashir M. F.

RESOURCES POLICY, vol.91, 2024 (SSCI) identifier identifier

  • Publication Type: Article / Article
  • Volume: 91
  • Publication Date: 2024
  • Doi Number: 10.1016/j.resourpol.2024.104873
  • Journal Name: RESOURCES POLICY
  • Journal Indexes: Social Sciences Citation Index (SSCI), Scopus, International Bibliography of Social Sciences, Aerospace Database, Aquatic Science & Fisheries Abstracts (ASFA), Business Source Elite, Business Source Premier, Communication Abstracts, Compendex, EconLit, Index Islamicus, INSPEC, Metadex, PAIS International, Pollution Abstracts, Public Affairs Index, Civil Engineering Abstracts
  • Azerbaijan State University of Economics (UNEC) Affiliated: No

Abstract

The growing evidence of global warming and climate change has helped create a consensus to formulate stringent energy, resource, and environmental policies to protect environmental quality. However, ecological distress continues to grow due to fossil fuel and natural resource dependency. The current study extends the environmental debate by analyzing how Fintech, natural resource abundance, environmental policy, energy transition, and fossil fuel consumption impact climate change. We use extensive econometric analysis to reveal that Fintech, environmental policy stringency, and energy transition are critical towards environmental sustainability, while natural resource rents and fossil fuel consumption are the primary contributors to climate change. In addition, we also divide our dataset into BRICST and G7 economies to provide further insights. To solve climate change, we propose that Fintech and stringent energy policies are key to improving energy and resource efficiency.