Asif Raihan, Liton Chandra Voumik, Mohammad Ridwan, Salma Akter, Abdul Rahim Ridzuan, Wahjoedi, Thomas Soseco, Nor Asmat Ismail
Understanding the complex relationship between socio-economic factors and environmental sustainability is crucial in devising effective strategies for sustainable development goals. This study analyses the impact of renewable energy use, economic growth, financial development, trade globalisation, and technological innovations on Indonesia’s ecological footprint from 1990 to 2020. Using the autoregressive distributed lag (ARDL) approach and other estimators, the study examined the short- and long-term correlations between the environmental footprint and related factors. The results suggest that renewable energy consumption, trade globalisation, and technical advancements are associated with a decrease in the ecological footprint. At the same time, economic growth and financial development are linked to an increase. These findings underscore the need for policies that promote renewable energy use, green growth, and funding for technological advancements to achieve sustainable development goals. Finally, this study highlights the importance of balancing economic growth with environmental protection and the urgent need to prioritise sustainable practices for the benefit of current and future generations. © The Author(s), under exclusive license to Springer Nature Switzerland AG 2024.
Institute of Climate Change, Universiti Kebangsaan Malaysia, Bangi, 43600, Malaysia; Department of Economics, Noakhali Science and Technology University, Noakhali, Bangladesh; Department of Management, University of Religions and Denominations, Qom, 37491-13357, Iran; Faculty of Business and Management, Universiti Teknologi MARA, Melaka Campus, Alor Gajah, 78000, Malaysia; Institute for Big Data Analytics and Artificial Intelligence (IBDAAI), Universiti Teknologi MARA, Shah Alam, 40450, Malaysia; Centre for Economic Development and Policy (CEDP), Universiti Malaysia Sabah, Kota Kinabalu, 88400, Malaysia; Accounting Research Institute (ARI), Universiti Teknologi MARA, Shah Alam, 40450, Malaysia; Faculty of Economics and Business, Universitas Negeri Malang, Malang, 551312, Indonesia; School of Social Sciences, Universiti Sains Malaysia, Penang, 11800 USM, Malaysia
