To boost the stability of economic and financial aspects along with the apprehensions for sustainability, it is important to promote the development of clean energy stocks around the globe. In the current research, the researchers have examined the impact of oil prices, coal prices, natural gas prices, and gold prices on clean energy stock using the autoregressive distribution lag (ARDL) approach from the year 2011 to the year 2020. The result of daily data analysis specifies that in the long as well as in the short run, gold prices, oil prices, and coal prices have a positive and significant effect on clean energy stock. On the other side, natural gas prices in the long as well as in the short run have a negative and significant effect on clean energy stock. So, the empirical analysis of our study is of interest to investors at an institutional level who aim at detecting the risk associated with the clean energy market through proper financial modeling. Besides, this study opens up a new domain to sustain financial as well as economic prospects by protecting the environment through clean energy stock as the investment in clean energy stocks results in producing a substantial effect on the economy and the environment as well.
An era of rapid changes in the technological and economic aspects of developing and developed countries can have detrimental extortions on the environment around the world. From the perspective of globalization, the rapid development and growth can reroute to enhance the interaction between people, organizations, and countries across the globe including China through the usage of information and communication technology which in turn contributes to the economic growth of one side, whereas on the other side, it affects the environmental quality. Referring to this aspect, this study is focused to inspect the link between information and communication technology, and globalization with the facets of degradation in the environment that as CO2 emission and ecological footprint by keeping the view of economic growth prospects as well via using the EKC hypothesis. In our study, time-series data was employed from 1987 to 2020 for China using the Dynamic ARDL approach. Grounded on the findings of the study, economic growth from the sight of GDP fallouts in rising the emission of CO2 and EFP in the short and long run whereas GDP sqr cause decrease in the CO2 emission and EFP. Thus, this authorizes the presence of inverted U-shaped existence among GDP sqr, CO2 emission, and EFP. Therefore, this provides provision for the EKC hypothesis in China. Furthermore, ICT and globalization cause a decline in the emission of CO2 and EFP in the short and long run respectively. In combatting challenges linked to the environment, globalization, as well as ICT, is seen as a crucial factor based on the pieces of evidence in our study while the policy implications are also proposed in the paper.