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The Sustainable Development Goals (SDGs) of the United Nations emphasize the need for green growth (GG), a concept that balances economic expansion with environmental sustainability. The core principles of GG are mitigating climate change, the transition to renewable energy consumption, and engaging in sustainable consumption. Therefore, this study uses advanced econometric techniques to investigate how financial inclusion influences GG in BRICS countries. The augment mean group (AMG) technique, complemented by the Method of Moment Quantile Regression (MMQR) approach, suggests financial inclusion increases GG in BRICS countries. The MMQR results reveal that financial inclusion fosters GG in the lower and medium quantiles. In line with the findings, financial institutions should focus on producing financial products that support the principles of green finance. This includes green stocks, sustainability funds, credit cards, bonds, and other sustainable financial products. • The impact of financial inclusion on green growth is explored. • The panel data on BRICS is used as the case study. • The long-run findings note that financial inclusion escalates green growth. • Quantile-based estimates note that financial inclusion upsurges green growth at the lower- and middle-quantiles. • Policy recommendations related to the SDGs are proposed.
Dong et al. (Thu,) studied this question.