The green response of financial inclusion, infrastructure development and renewable energy to the environmental sustainability: A newly evidence from OECD economies.

Chun Li, Bakhtawer Ayub
Author Information
  1. Chun Li: Management and Science University, University Drive, Off Persiaran Olahraga, Selangor, Malaysia. ORCID
  2. Bakhtawer Ayub: Schools of Mathematics, International Islamic University, Islamabad, Pakistan.

Abstract

Recently, economic environmental degradation is being considered a leading chellenge in forefront of policy analysts. Thus, the present study introduces core environmental determinants such as infrastructure development, finacail inclusion, gross domestic product, population, and renewable energy consumption. Financial inclusion (FI) is crucial for attaining a environment. The present study selects the Organization for Economic Co-operation and Development (OECD) over period of 2004-2022. The results show that financial inclusin, infrastructure development(ID), and renewable energy (RE) play a vital influence in decreasing carbon emissions. The OECD nations should surge their investment in renewable energy and infrastructure development. Furthermore, to ensure long-term environmental sustainability, it is imperative to broaden the scope of FI. Thus, the inclusion of green infrastructure is essential in order to shift from the utilization of fossil fuels to RE sources. Similarly, policymakers should incorporate FI into climate actions at the local, national, and regional levels. However, it is crucial to promote the economic shift towards RE sources in order to mitigate the environmental impact from humn and economic activities. This study is conducive to the execution of the United Nations (UN) Sustainable Development Goals (SDG).

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MeSH Term

Renewable Energy
Organisation for Economic Co-Operation and Development
Sustainable Development
Conservation of Natural Resources
Humans
Environment

Word Cloud

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