Developing strategies to mitigate the adverse environmental effects of climate change requires a thorough understanding of the various factors that influence it to ensure the Sustainable Development Goals related to environmental sustainability are met. In the past few decades, the role of digitalisation in all sectors of the economy has been highlighted, and this research has explored the nexus between digitalisation, sustainable finance and the blue economy to understand their influence on carbon emissions for East Asian economies.
This is an empirical study in which a sample of six East Asian economies from 2009 to 2023 was selected from various secondary databases and analysed using panel-corrected standard errors and feasible generalised regression techniques.
Findings of the study emphasize the crucial significance of sustainable finance and digitalisation in restricting carbon emissions. Moreover, results also suggest that imports have a mitigating effect on carbon emissions; however, exports and economic growth are strongly linked to environmental degradation. Blue economic indicators such as aquaculture and marine tourism have a significantly positive influence, thereby emphasising the need to revise government policies in favour of blue economic development.
Findings of this study will extend existing knowledge by taking into consideration environmental innovation and sustainability issues linked to the 2030 Agendas. It will discover, discuss and select issues that are poorly covered or unknown in existing literature regarding various contributions to achieve the SDGs and the actual efficacy of the previously used measurements, especially concerning decision-making.
The study has presented novel insights into the nexus between digitalisation, sustainable finance and the blue economy in approaching the environmental challenges related to the 2030 UN Sustainable Development Goals (UN SDG’s) agenda.
