The role of fintech, natural resources, environmental taxes and urbanization on environmental sustainability: Evidence from the novel panel data approaches

The increasing environmental challenges have raised serious concerns, for which various scholars assert that financial and technological growth and commercial progress tend to influence carbon emissions. Thus, fintech has become a pertinent driver in influencing carbon emissions in the post-pandemic era. According to the prior scholarly work, fintech can lessen carbon emissions around the globe, irrespective of income levels and extent of development. In the same direction, the ongoing research attempts to shed light on the connotations among natural resources, fintech, environmental taxes, urbanization, and sustainable environment in ASEAN-6 nations. The research has utilized novel panel data techniques, i.e., “Continuously Updated Fully Modified (CUP-FM) and Continuously Updated Bias-Corrected (CUP-BC)”, and the time frame is twenty years (2000–2020). According to the empirical outcomes, natural resources surge CO2 emissions, fintech, and environmental taxes lessen CO2 emissions, whilst urbanization has proved to be a dominating factor in increasing ecological destruction. The research also indicates a bi-directional causal connotation between environmental quality and environmental taxes. To attain sustainable environmental goals, the policy thinks tanks need to focus on initiatives to develop financial technologies as well as impose reasonable levels of environmental taxes.