Working Capital Management and Profitability of Listed Manufacturing Companies: The Moderating Effect of Financial Risk Management in Italy

This study examined how carbon emissions affect Nigeria’s economic growth. The researchers used carbon emissions from industrial processes, power industry energy, and transport to measure environmental sustainability. The study adopted the Environmental Kuznets Curve theory and used an ex-post facto research design. The study gathered secondary data from the World Development Indicators for the years 1990 to 2024. The GDP growth rate was their main focus, while carbon emissions from industry, power, and transport made up the other key factors. After doing descriptive stats, unit root, bounds, and lag length tests, the study used the Autoregressive Distributed Lag technique along with an Error Correction Mechanism for analysis. The unit root test results showed a mix of I(0) and I(1) variables, supporting the choice of ARDL. Most importantly, the bounds test revealed a long-run connection between GDP growth and those carbon emission factors. The study revealed that carbon emissions from power industry energy (CEIPE) had a big positive long-run effect on economic growth, while emissions from industrial processes (CEIP) and transport (CET) didn't have any significant long-run effects. In the short term, CEIP had a positive impact on GDP growth, yet CEIPE and CET didn't really affect it much. The error correction term came out negative but still insignificant, meaning the economy adjusts very slowly towards long-run equilibrium after a shock. So, economic growth in Nigeria really depends on industrial activities and energy use, even with their environmental costs. To balance economic growth with environmental protection, the study suggests using cleaner tech in industries, boosting investment in renewables, and promoting low-carbon transport systems. This way, they could work towards sustainability and tackle degradation at the same time.