Nexus of financial management, blockchain, and natural resources: Comparing the impact on environmental sustainability and resource productivity

In recent years, with a rise in climate change, the notion of sustainable development and resource productivity has received a lot of attention around the world. Meanwhile, advances in artificial intelligence based financial management and the creation of new blockchains or cryptocurrencies have transformed the day-to-day operations of economic actors. The aim of the present study is to investigate the impact of financial management and blockchains on environmental sustainability and resource productivity. The monthly time series data of the United States of America economy data is used covering the period from 2000M01-2022M09. Firstly, the stationary variable is tested using the Augmented Dickey-Fuller and Phillips-Perron tests. The findings reveal that all the variables follow I(1). The long-term estimations are investigated through the Fully Modified Ordinary Least Squares. The findings reveal that artificial intelligence-based financial management helps to improve environmental sustainability and resource productivity by reducing carbon emissions and increasing combustible and renewable waste, metals, and non-metallic minerals resources in the long run. In addition, blockchain technology appears to be a booster for environmental unsustainability while also reducing metallic resources. These findings are particularly important and critical since they indicate the path to achieving Sustainable Development Goals. Overall, the findings imply that the United States of America authorities should continue to push AI-based sustainability models and move to green blockchains in order to mitigate the negative environmental effects of blockchains.

Automated summary

In recent years, the world has paid a lot of attention to sustainable development and resource productivity due to the increase in climate change. At the same time, the use of artificial intelligence in financial management and the development of new blockchains or cryptocurrencies have significantly impacted economic operations. This study investigates the influence of financial management and blockchains on environmental sustainability and resource productivity using monthly time series data from the United States economy. The findings indicate that artificial intelligence-based financial management improves environmental sustainability and resource productivity, while blockchain technology has mixed effects by reducing metallic resources but also contributing to environmental unsustainability. These findings are crucial in guiding the achievement of Sustainable Development Goals.