Does financial development moderate the impact of climate mitigation innovation on CO2 emissions? Evidence from emerging economics
Using a panel dataset of six emerging economies from 1990 to 2021, the study analyzed the moderating influence of financial institutions and markets on the deployment of Climate Mitigation Innovation (CMI) and its impact on carbon emissions. Our results from BRIICS countries (i.e. Brazil, Russia, In...
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| Format: | Article |
| Language: | English |
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Elsevier
2025-04-01
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| Series: | Innovation and Green Development |
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| Online Access: | http://www.sciencedirect.com/science/article/pii/S2949753125000086 |
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| author | Raphael W. Apeaning Musah Labaran |
| author_facet | Raphael W. Apeaning Musah Labaran |
| author_sort | Raphael W. Apeaning |
| collection | DOAJ |
| description | Using a panel dataset of six emerging economies from 1990 to 2021, the study analyzed the moderating influence of financial institutions and markets on the deployment of Climate Mitigation Innovation (CMI) and its impact on carbon emissions. Our results from BRIICS countries (i.e. Brazil, Russia, India, Indonesia, China, and South Africa) reveal that sound financial systems significantly amplify the efficacy of CMI in lowering CO2 intensity. This research contributes to the existing body of knowledge by elucidating the conditional dynamics between financial development, technological innovation, and emission outcomes. Insights from the study underscore that emerging countries should strengthen their financial sectors to effectively leverage CMI for substantial emission reductions. Ultimately, insights gleaned from this study contribute to the growing literature on green innovation and green finance and serve as a basis for policymakers to craft strategies that enhance sound financial environment while promoting green technological innovations. |
| format | Article |
| id | doaj-art-dfbce1c0ad094aa89e11474298a84a75 |
| institution | DOAJ |
| issn | 2949-7531 |
| language | English |
| publishDate | 2025-04-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Innovation and Green Development |
| spelling | doaj-art-dfbce1c0ad094aa89e11474298a84a752025-08-20T02:54:39ZengElsevierInnovation and Green Development2949-75312025-04-014210021110.1016/j.igd.2025.100211Does financial development moderate the impact of climate mitigation innovation on CO2 emissions? Evidence from emerging economicsRaphael W. Apeaning0Musah Labaran1Department of Technology and Society, Stony Brook University, Stony Brook, NY, USA; Corresponding author.Komfo Anokye Teaching Hospital Cardiology Unit, Kumasi, GhanaUsing a panel dataset of six emerging economies from 1990 to 2021, the study analyzed the moderating influence of financial institutions and markets on the deployment of Climate Mitigation Innovation (CMI) and its impact on carbon emissions. Our results from BRIICS countries (i.e. Brazil, Russia, India, Indonesia, China, and South Africa) reveal that sound financial systems significantly amplify the efficacy of CMI in lowering CO2 intensity. This research contributes to the existing body of knowledge by elucidating the conditional dynamics between financial development, technological innovation, and emission outcomes. Insights from the study underscore that emerging countries should strengthen their financial sectors to effectively leverage CMI for substantial emission reductions. Ultimately, insights gleaned from this study contribute to the growing literature on green innovation and green finance and serve as a basis for policymakers to craft strategies that enhance sound financial environment while promoting green technological innovations.http://www.sciencedirect.com/science/article/pii/S2949753125000086Climate change mitigation innovationGreen innovationFinancial developmentCO2 reductionEmerging economies |
| spellingShingle | Raphael W. Apeaning Musah Labaran Does financial development moderate the impact of climate mitigation innovation on CO2 emissions? Evidence from emerging economics Innovation and Green Development Climate change mitigation innovation Green innovation Financial development CO2 reduction Emerging economies |
| title | Does financial development moderate the impact of climate mitigation innovation on CO2 emissions? Evidence from emerging economics |
| title_full | Does financial development moderate the impact of climate mitigation innovation on CO2 emissions? Evidence from emerging economics |
| title_fullStr | Does financial development moderate the impact of climate mitigation innovation on CO2 emissions? Evidence from emerging economics |
| title_full_unstemmed | Does financial development moderate the impact of climate mitigation innovation on CO2 emissions? Evidence from emerging economics |
| title_short | Does financial development moderate the impact of climate mitigation innovation on CO2 emissions? Evidence from emerging economics |
| title_sort | does financial development moderate the impact of climate mitigation innovation on co2 emissions evidence from emerging economics |
| topic | Climate change mitigation innovation Green innovation Financial development CO2 reduction Emerging economies |
| url | http://www.sciencedirect.com/science/article/pii/S2949753125000086 |
| work_keys_str_mv | AT raphaelwapeaning doesfinancialdevelopmentmoderatetheimpactofclimatemitigationinnovationonco2emissionsevidencefromemergingeconomics AT musahlabaran doesfinancialdevelopmentmoderatetheimpactofclimatemitigationinnovationonco2emissionsevidencefromemergingeconomics |