Enhancing sustainable energy: Mineral exports, financial development, and foreign investment can build a greener future?

The long-term consequences of sustainable development and resource conservation might vary significantly across various economies. This study assesses the influences of cleaner energy and mineral deposits across borders, with a specific focus on promoting environmental sustainability, using data from 1990 to 2020 for leading resource-exporting economies. The CS-ARDL model effectively handles variability in Slope heterogeneity and Cross-section dependence. The study demonstrates that mineral exports have a significant influence on the process of transitioning to renewable energy sources. This is particularly relevant for the production of low-carbon fuels. Nevertheless, the expansion of the finance industry hinders the transition to renewable energy. The use of AMG and CCEMG estimators improves the precision of this investigation's findings. The study emphasized the significance of expediting the shift from renewable energy sources to minimize environmental impact and promote sustainable development. Furthermore, it offers noteworthy policy suggestions for every stakeholder. © 2024 Elsevier Ltd