Exploring the Linkages between ICT, Energy-Economic Growth in Mitigating Ecological Footprints: Evidence from D – 8 Member States

Abstract

The member states of D-8 organization is facing various environmental challenges. There is a rapid environmental contamination caused by the usage of fossil fuels for energy. As a result, developed and developing nations alike are implementing a variety of approaches to address environmental issues. Therefore, the aim of this research is to examine the interrelationships among information and communication technologies (ICT), natural resource rent (NNR), economic growth, green technology innovation (GTI), green finance (GFI), and ecological footprints (EFP) in the D – 8 countries. Reliable methodologies and annual data covering the period from 1995 to 2022 were employed to present the results. To find out how the thing changes over short and long periods, we used a method called cross-sectional augmented autoregressive distributed lag (CS-ARDL). The results showed that the EKC theory is true in this specific area. Depletion of natural resources and economic expansion both contribute to an increased ecological footprint. Green finance, information and communication technologies innovations, and technological advancements all contribute to the reduction of the ecological footprints. A unidirectional causal relationship was established between economic growth, green finance, ecological footprints, and information and communication technologies via the D-H causality test. The present study incorporates novel insights from the D – 8 countries into the extant body of knowledge concerning the origins of environmental contamination. Furthermore, this research offers a standard by which policymakers and government agencies in these industries can assess their investments in information and communication technologies green finance, and environmentally friendly technologies, in an effort to reduce environmental contamination.