"Indonesia’s Path to Sustainability: Exploring the Intersections of Ecological Footprint, Technology, Global Trade, Financial Development and Renewable Energy"

We are thrilled to announce that our book chapter titled "Indonesia’s Path to Sustainability: Exploring the Intersections of Ecological Footprint, Technology, Global Trade, Financial Development, and Renewable Energy" has been published by Springer. 

This chapter is authored by Asif Raihan, Liton Chandra Voumik, Mohammad Ridwan, Salma Akter, Abdul Rahim Ridzuan, Wahjoedi, Thomas Soseco, and Nor Asmat Ismail

Abstract

Understanding the complex relationship between socio-economic factors and environmental sustainability is crucial in devising effective strategies for sustainable development goals. This study analyses the impact of renewable energy use, economic growth, financial development, trade globalisation, and technological innovations on Indonesia’s ecological footprint from 1990 to 2020. Using the autoregressive distributed lag (ARDL) approach and other estimators, the study examined the short- and long-term correlations between the environmental footprint and related factors. The results suggest that renewable energy consumption, trade globalisation, and technical advancements are associated with a decrease in the ecological footprint. At the same time, economic growth and financial development are linked to an increase. These findings underscore the need for policies that promote renewable energy use, green growth, and funding for technological advancements to achieve sustainable development goals. Finally, this study highlights the importance of balancing economic growth with environmental protection and the urgent need to prioritise sustainable practices for the benefit of current and future generations.

Cite this chapter:

Raihan, A. et al. (2024). Indonesia’s Path to Sustainability: Exploring the Intersections of Ecological Footprint, Technology, Global Trade, Financial Development and Renewable Energy. In: Alareeni, B., Elgedawy, I. (eds) Opportunities and Risks in AI for Business Development. Studies in Systems, Decision and Control, vol 545. Springer, Cham. https://doi.org/10.1007/978-3-031-65203-5_1

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