Mineral Resources, Fintech, Innovative Human Capital, and CO2 Emissions: Missing Evidence from The Mineral Rich Asian Countries

Abstract

This paper examines the intricate relationship between innovative human capital, mineral resources, fintech, and CO2 emissions across mineral-rich Asian countries, highlighting the pressing need for sustainable development. Through a comprehensive literature review and empirical analysis using the Generalized Method of Moments-Panel Vector Autoregression (GMM-PVAR) model, the study underscores the persistent nature of CO2 emissions and the critical role of human capital and fintech in mitigating environmental degradation. It reveals a positive correlation between the abundance of mineral resources and CO2 emissions, suggesting a dire need for sustainable resource management. Moreover, the study demonstrates the significant negative impact of fintech on CO2 emissions, offering new pathways for green finance and sustainable economic practices. By analysing data from 2003 to 2019 across selected countries, this paper contributes to the understanding of how innovative human capital and technological advancements in finance can lead to a reduction in CO2 emissions. It concludes with policy implications that advocate for the integration of sustainability into economic planning, the promotion of green skills and education, and the harnessing of fintech for environmental sustainability. This study not only provides valuable insights for policymakers in Belt and Road Initiative countries but also lays the groundwork for a more sustainable and environmentally conscious global economy.