The role of green finance, eco-innovation, and creativity in the sustainable development goals of ASEAN countries

Abstract

Recently, sustainable development has become a global requirement. Every country strives to achieve this essential goal, and this attracts the attention of researchers and policymakers. This study investigates the impact of green finance, eco-innovation, and creativity on the sustainable development goals in ASEAN countries. Using CUP-FM and CUP-BC techniques, the study examines the association between variables, and finds that green finance (such as green credit), renewable energy production, eco-innovation, and creativity, have positive associations with sustainable development goals. The control variable, economic growth, has a negative association with sustainable development goals. Based on the evidence, the ASEAN region must increase the quantity of green bonds as a part of green finance. This financial measure would guarantee adequate returns for private investors.