Navigating climate challenges: Focusing on the effectiveness of natural resource rents, fintech, green finance, environmental quality, and digitalisation

Yu Cen and Jinpeng Yin

Resources Policy, 2024, vol. 95, issue C

Abstract: China indeed has made great efforts to maintain environmental quality. However, it should be noted that climate challenges normally emerge when certain nations heavily depend on non-renewable resources to meet energy demands. It is quite difficult to reduce the dependency because such economies are ranked as a major importer of fossil fuel resources. This means, pollution and emission rates in subsequent economies are increasing with the passage of time. The spontaneous fintech growth and financial inclusion, natural resource volatility and increasing economic activities in China have triggered vicious climate challenges. Therefore, the study intends to explore the relationship between fintech, financial inclusion, green finance, natural resource rent and environmental quality in China over the time period of 1998–2022. Using ARDL technique, it was found that fintech, financial inclusion and green finance enhance environmental quality, whereas natural resource rents are responsible of degrading environmental quality. Therefore, Chinese authorities should use resources related to green finance to facilitate fintech industry. Besides, blending fintech solutions such as NFTs and cryptocurrencies with traditional financing for environmental sustainability, there is also a need to establish standard laws and procedrues for these products.

Keywords: Sustainable development; Fintech; GDP; ARDL; Financial inclusion (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:95:y:2024:i:c:s0301420724004690

DOI: 10.1016/j.resourpol.2024.105102

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