How the energy depletion rate and financial structure can promote environmental sustainability: Empirical evidence from Pakistan using ecological footprints

• DOI: 10.1016/j.esr.2023.101208
• Publication Date: 2023-10-11T02:30:17Z
• Authors: Sami Ullah; Songlin Tang; Muhammad Yousaf Raza
• Keywords: Environmental degradation; Openness to experience

Financial structure is the primary director of economic activity in a capitalist society, it also has an important societal role encouraging investments that are beneficial to natural and human ecosystems. To accomplish this objective, study addresses unattended symmetric linkages between financial structure, energy depletion, environmental degradation using multiple ecological footprints ‘’ (built-up land, carbon cropland, fishing grounds, forest products, grazing land)’’ as indicator over period 1985 2018 for Pakistan. By these six indicators separate regressands, research quantifies impact depletion by applying newly developed Augmented Autoregressive Distributed Lag (AARDL) approach. The outcome reveals decreases footprints, similarly, footprints. Opposite it, trade openness increases while urban population Given results, comprehensive development policies directed achieve sustainable goals.