A Triple Helix Approach to a Greener Future: Environmental Law, Fintech, Institutional Quality, and Natural Resources as Pillars of Environmental Sustainability in G20

Achieving environmental sustainability in the G20 requires aligning economic growth with effective policy interventions. This study examines the role of financial technology (FNT), environmental legislation (ENL), and institutional quality (INQ) in reducing the ecological footprint (EF), while also assessing the adverse impacts of natural resource extractions (NRS) and economic expansion. Using CS-ARDL on panel data from 2000 to 2022, the study confirms cross-sectional interdependence and long-term cointegration through CIPS, CADF, and Westerlund tests. The findings reveal that FNT, ENL, and INQ significantly mitigate EF, whereas NRS and economic growth exacerbate it. Robustness is validated through the AMG and CCEMG methods, with ANN models reinforcing the results. The Dumitrescu–Hurlin test establishes a bidirectional link between NRS, economic growth, and EF, while FNT, ENL, and INQ exert a unidirectional influence on sustainability. These insights underscore the need for stronger regulatory frameworks, green fintech integration, and governance reforms to drive sustainable economic transitions in G20 economies.

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Publication Details

Journal
Sustainability
Published
2025-04-30
DOI
https://doi.org/10.3390/su17094043
Citations
1
Primary Topic
Energy, Environment, Economic Growth
Type
article
Field-Weighted Citation Impact
3.13
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article

A Triple Helix Approach to a Greener Future: Environmental Law, Fintech, Institutional Quality, and Natural Resources as Pillars of Environmental Sustainability in G20

Haizhu Zhang, Ali Punjwani
1 citations
Sustainability
Energy, Environment, Economic Growth
3.13
article

A Triple Helix Approach to a Greener Future: Environmental Law, Fintech, Institutional Quality, and Natural Resources as Pillars of Environmental Sustainability in G20

Haizhu Zhang, Ali Punjwani
article en
1 citations

Abstract

Achieving environmental sustainability in the G20 requires aligning economic growth with effective policy interventions. This study examines the role of financial technology (FNT), environmental legislation (ENL), and institutional quality (INQ) in reducing the ecological footprint (EF), while also assessing the adverse impacts of natural resource extractions (NRS) and economic expansion. Using CS-ARDL on panel data from 2000 to 2022, the study confirms cross-sectional interdependence and long-term cointegration through CIPS, CADF, and Westerlund tests. The findings reveal that FNT, ENL, and INQ significantly mitigate EF, whereas NRS and economic growth exacerbate it. Robustness is validated through the AMG and CCEMG methods, with ANN models reinforcing the results. The Dumitrescu–Hurlin test establishes a bidirectional link between NRS, economic growth, and EF, while FNT, ENL, and INQ exert a unidirectional influence on sustainability. These insights underscore the need for stronger regulatory frameworks, green fintech integration, and governance reforms to drive sustainable economic transitions in G20 economies.

SustainabilityVol. 17(9)
Tianjin Normal University (CN)
Openalex Percentile: Top 9%
Energy, Environment, Economic Growth
3.13
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