Exploring the influence of sustainable regional planning on green economic growth: Evidence from Guangdong-Hong Kong- Macao Greater Bay Area and ASEAN+6

This study explores the influence of mining waste production on green economic growth in the ASEAN+6 and Guangdong-Hong Kong- Macao Greater Bay Area region spanning from 2000 to 2020. Employing ARDL (Autoregressive Distributed Lag) estimation and a comprehensive panel framework, the research reveals a notable adverse correlation: a 1% escalation in mining waste results in a 0.65% decline in green economic growth. Inefficient utilization of resources and inadequate waste management within the mining sector contribute to environmental deterioration, posing challenges to the sustainability of green industries. Furthermore, significant energy consumption from non-renewable sources during mining exacerbates the carbon footprint, obstructing advancements in green energy initiatives. The study also brings attention to a negative association between a 1% rise in inward Foreign Direct Investment (FDI) volume and a 0.39% decrease in green economic growth. To mitigate these unfavorable impacts, the research advocates for the promotion of sustainable FDI, the incentivization of green investments, and the implementation of rigorous environmental regulations.