Green triple framework for carbon mitigation in MINT economies
摘要
This study investigates the relationship between green finance, green energy, green growth, urbanization, natural resource rents, and carbon emissions (CEM) within the MINT economies (Mexico, Indonesia, Nigeria, and Turkey) over the period 2000–2020, motivated by the pressing need to balance economic growth with sustainable climate emission abatement. Despite growing global attention, limited research has comprehensively examined how these critical variables interact to influence carbon emissions in emerging economies. Employing second-generation econometric techniques, including the Augmented Mean Group (AMG) and Common Correlated Effects Mean Group (CCEMG) estimators, alongside robustness checks through CUP-FM and CUP-BC, the study ensures validity in the presence of cross-sectional dependence and slope heterogeneity. The results reveal that a 1% increase in green finance, green energy, and green growth reduces CEM by 0.698%, 0.665%, and 0.894%, respectively. In addition, a 1% rise in urbanization and natural resource rents raises emissions by 0.501% and 0.983%. These findings confirm both the opportunities for emission reduction through sustainable strategies and the risks of carbon intensification tied to structural factors. The study concludes that the MINT economies must integrate green finance and energy transitions into long-term growth strategies while adopting low-carbon urban planning and resource governance reforms. By applying the green triple framework, the study provides theoretical novelty and practical insights for emerging economies striving to reconcile economic development with global climate targets.