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Sustainable resource management is essential for assuring the availability and viability of natural resources over the long run. This study examines the relationships between natural resource depletion and energy intensity, with the moderating effects of globalization, financial inclusion, and trade openness in emerging economies. The analysis spans from 2004 to 2019 and employs dynamic panel data estimation and a one-step system Generalized Method of Moments (GMM). In order to check the robustness of GMM results, this study employs system-dynamic panel-data estimation. The correlation between natural resource depletion and energy intensity indicates that as natural resources are depleted, energy intensity increases. Financial inclusion has a positive relationship with energy intensity, indicating that greater accessibility and inclusivity in financial services result in greater energy intensity. The negative linkage between globalization and energy intensity suggests that as globalization increases, energy intensity tends to decrease. This research has substantial policy implications for sustainable development. Policymakers should design projects with the objective of advancing financial inclusion, integrating sustainability criteria, and attaining energy efficiency goals. Policymakers may create partnerships, such as trade agreements with environmental clauses or collaborative projects for alternative energy research and implementation. In addition, policy should include such aspects as regulating extraction rates, providing conservation efforts, and investing in energy resources to minimize the effects on the environment and ensure resource sustainability.
Zaidi et al. (Fri,) studied this question.