Abstract
Achieving sustainable environmental growth and preventing further environmental degradation are challenging goals for policymakers. This study looks at environmental laws and green finance’s role in fostering a more sustainable environment. The literature still needs to empirically or theoretically investigate how environmental laws and green financing affect carbon dioxide (CO2) emissions, particularly when combined with moderating factors such as social and economic globalization. As a result, this study investigates how environmental laws and green funding can help the N-11 nations cut their CO2 emissions. Our research uses empirical data from a group of the N-11 nations that span the years 2000 to 2019. To handle issues with panel data analysis, such as cross-sectional dependence and slope heterogeneity, we use advanced panel approaches (CIPS and CADF unit root and cointegration test and cross-sectional augmented ARDL). This research demonstrates that green financing (GFI) and environmental laws (ENV) have a negative but significant effect on CO2 emissions. While social globalization moderates the causal relationship between energy consumption and GDP while negatively and significantly causing GFI and ENV with CO2 emissions among the N-11 countries, economic growth has had a positive and significant effect on CO2 emissions in the N-11 countries. According to our research, nations could achieve the SDG-7 and SDG-13 goals if they adopted green financial and environmental policies.
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Mengjie Shi conducted the analysis and wrote the paper. Zhenzhen Jia conceptualized the work and analyzed the data. Usman Mehmood reviewed and supervised the work.
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Shi, M., Jia, Z. & Mehmood, U. Exploring the roles of green finance and environmental regulations on CO2es: defining the roles of social and economic globalization in the next eleven nations. Environ Sci Pollut Res 30, 62967–62980 (2023). https://doi.org/10.1007/s11356-023-26327-4
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DOI: https://doi.org/10.1007/s11356-023-26327-4