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August 20, 2026Sustainable Development

Circular Economy and Sustainable Development: Evidence From Green Innovation, Energy Transition, and Green Investment on Ecological Footprint in G7 Countries

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Authors

SISohidul IslamInternational Islamic University ChittagongRBReday Chandra BhowmikBRACHSHamid Ghazi H SulimanyTaif University

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Implication

Panel econometric analysis reveals green finance consistently mitigates ecological footprint in G7 economies, highlighting the necessity of targeted sustainability investments.

Key Points

  • To evaluate the joint impacts of green finance, green innovation, municipal waste recycling, energy transition, economic growth, and population on the ecological footprint of G7 economies.
  • Analyzed annual panel data for G7 nations from 1995 to 2023.
  • Applied a multivariate quantile-on-quantile regression model to capture heterogeneous effects across different levels of ecological footprint and circular economy drivers.
  • Utilized instrumental variable quantile regression with lagged instruments to control for potential endogeneity.
  • Green finance consistently reduces the ecological footprint, demonstrating stronger mitigation effects beyond the middle quantiles.
  • Green innovation and municipal waste recycling show positive associations with the ecological footprint across most quantiles, while economic growth and population consistently amplify environmental pressure.
  • Energy transition displays heterogeneous effects, remaining positive across lower and middle quantiles before shifting slightly negative at the highest quantiles.

Cite This Study

Islam et al. (2026) studied this question.

synapsesocial.com/papers/6a86b56c8a91293e6a1ccbc5https://doi.org/10.1002/sd.71560
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