Heliyon (Dec 2024)
Analyzing the influence of financial technology and environmental taxation on energy transformation in BRI nations
Abstract
This research examined the management, financial technology, and environmental taxation elements impacting energy transformation in Belt and Road Initiative (BRI) countries concerning foreign direct investment (FDI). The study aims to analyze data from 2014 to 2022, encompassing a balanced group of 148 BRI member nations—72 from minimal and lower-middle-class countries and 78 from significant and middle-income industrialized nations. Utilizing the two-step systems generalized method of moments (GMM) framework and verifying with the two-stage least squares (2SLS) approach, the study identified critical drivers and barriers to energy transformation in these countries. The findings indicate that effective management practices, advanced financial technologies, and appropriate environmental taxation policies significantly influence energy transformation and FDI inflows. Additionally, the research reviewed the impact of cruise tourism on human health and environmental ecosystems, highlighting severe environmental consequences such as habitat deterioration, marine pollution, and ecosystem disturbances. Human health issues linked to air and water pollution, including respiratory disorders and water-borne illnesses, were also identified. The socioeconomic effects on nearby communities were significant, underscoring the need for stringent regulations and sustainable practices. This comprehensive analysis provides essential insights for policymakers, industry stakeholders, and scholars, advocating for integrated policies to promote sustainable energy transformation and mitigate the adverse effects of cruise tourism.
