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This study investigates the relationship between economic growth, renewable energy consumption, financial openness, and environmental degradation in selected ASEAN (Association of Southeast Asian Nations) countries (Cambodia, Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam) from 1996 to 2018. We aim to analyze how macroeconomic situation, energy-related factors, and financial determinants contribute to environmental deprivation in selected countries whose growth has recently been substantial. To address this issue, we employ second-generation panel data regression models and quantiles with fixed-effects estimators. Initially, the cointegration analysis supports a long-run association between the variables of our interest. Empirical findings confirm the environmental Kuznets curve hypothesis, but it seems valid only for Singapore. Moreover, results highlight the ecological role of renewable energy for ASEAN countries to achieve Sustainable Development Goals, such as transitioning to a low-carbon economy and reducing air pollution. On the contrary, financial openness is a cause that positively influences CO 2 emissions. This research offers practical policy recommendations for many countries, including the ASEAN economies, to attain sustainable development. [Display omitted] • The link between carbon dioxide emissions and macroeconomic and energy indicators is analyzed on an ASEAN panel. • The inverted-U EKC hypothesis seems to hold true for Singapore. • Renewable energy mitigates environmental degradation while capital account openness reduces environmental quality. • Financial openness might be a key policy factor in mitigating carbon emissions. [ABSTRACT FROM AUTHOR]

Sustainable development goal (SDG), which focuses on affordable and sustainable energy, provides a practical solution to realize sustainable growth. In addition, this target can encourage the realization of SDG 13 (climate action). However, factors like political and financial risk can impact climate actions and renewable energy. Therefore, this research extends the debate on the ecological footprint (EF) mitigation and achievement of SDGs by evaluating the renewable energy, political risk, financial risk, and EF nexus in an Environment Kuznets Curve (EKC) framework from 1986 to 2018. Panel data for the Association of Southeast Asian Nations (ASEAN) is estimated using second-generation approaches. The CuP-FM test results indicated that the EKC is present in ASEAN in the context of renewable energy, financial risk, and political risk. Furthermore, the findings revealed that controlling political and financial risks is a useful mitigation strategy because EF decreases as these risks are reduced. Notably, a decrease in EF has been linked to the use of renewable energy. These results are verified by using CO2 emissions as an alternative proxy for environmental degradation. Moreover, both financial and political risk Granger cause renewable energy and economic growth indicating that controlling financial and political risk is necessary for sustainable development. • Financial & political risk, renewable energy, and environment nexus is analyzed. • Controlling financial risk decreases ecological footprint. • Reducing political risk reduces ecological footprint. • Renewable energy has a negative connection with the ecological footprint. • The Environment Kuznets Curve holds. [ABSTRACT FROM AUTHOR]

Sustaining economic growth while reducing dependence on fossil fuels remains a challenge for our world to fight against climate change and therefore finding a way to promote economic growth and increase renewable energy use is needed. This paper uses a 22-year panel dataset (1994–2015) of 9 countries in the Association of Southeast Asian Nations provided by the World Bank World Development Indicators to examine the impact of medium- and high-tech export on renewable energy use. We employ a fixed-effects regression model with the Driscoll–Kraay nonparametric covariance matrix estimator to account for sectoral and temporal dependence. We also control for inflation, employment, population growth, and gross domestic product per capita in our estimations. Our results demonstrate a U-shaped association between medium- and high-tech export and renewable energy consumption of these economies. The results propose that enhancing medium- and high-tech export could be a feasible solution for promoting renewable energy consumption. [ABSTRACT FROM AUTHOR]

Economic growth, accompanied by rising energy demand in ASEAN countries have been unprecedented over these few years. On the other hand, the energy consumed in the ASEAN region is predominantly non-renewable, which could have implications for sustainable development. Previous studies that have investigated the energy-growth-environment nexus for this region are inefficient in terms of the proxies used to measure environmental quality and the estimation techniques adopted. As such this study explores the influence of renewable and non-renewable energy consumption, economic growth, and urbanization on a more reliable environmental indicator (ecological footprint) from 1990 to 2016, while controlling for trade. First-and-second-generation unit root and cointegration tests are applied amidst evidence of cross-sectional dependence. Findings reveal that economic growth, trade, and non-renewable energy contribute significantly to environmental degradation in ASEAN countries. This suggests that the region is growing at the expense of its environment, while also indulging in emission-intensive trade. Further findings show a one-way causality from urbanization to non-renewable energy consumption. Policy directions and implications of the findings for sustainability are discussed. • The study explores the nexus between urbanization, renewable energy, trade, and ecological footprint in ASEAN countries. • Economic growth, trade, and non-renewable energy contribute to environmental degradation. • Renewable energy decreases the ecological footprint. • A one-way causality flows from urbanization to non-renewable energy consumption. [ABSTRACT FROM AUTHOR]