This study examines the effects of energy use, financial development, and globalization on carbon dioxide emissions for Asian countries comprising the panel data over the period 1990–2017. To account for cross-sectional dependence, Pesaran cross-sectional dependence test is used. The second-generation tests are used to determine the stationarity level of the variables. Furthermore, the Westerlund panel cointegration test confirms cointegration among the variables. For long-run association, fully modified ordinary least squares approach is used. The study also used Dumitrescu and Hurlin’s (Econ Model 29:1450-1460, 2012) panel causality test to explore the causal relationship among the variables. The results suggest that financial development contributes to carbon emissions, whereas globalization helps to mitigate emissions. As financial development deteriorates environmental quality, therefore, the government should monitor the disbursement of loans for research and development, green financing, and efficient products that reduce resource consumption and improves environmental quality. Financial development should not compromise environmental quality and endanger sustainability. Such findings show that both renewable energy industries and financial development in the Asian economies are not meeting the maturity level in terms of leading to changes in environmental quality. Furthermore, Asian countries should promote globalization to support the inflow of green technologies to enhance environmental quality.

本研究考察了能源使用、金融发展和全球化对亚洲国家二氧化碳排放量的影响，其中包括 1990-2017 年期间的面板数据。为了解释横截面依赖性，使用了 Pesaran 横截面依赖性测试。第二代检验用于确定变量的平稳水平。此外，Westerlund 面板协整检验证实了变量之间的协整。对于长期关联，使用完全修改的普通最小二乘法。该研究还使用 Dumitrescu 和 Hurlin (Econ Model 29:1450-1460, 2012) 面板因果关系检验来探索变量之间的因果关系。结果表明，金融发展有助于碳排放，而全球化有助于减少排放。由于金融发展导致环境质量恶化，因此，政府应监控研发贷款、绿色融资和减少资源消耗、改善环境质量的高效产品的发放。金融发展不应损害环境质量并危及可持续性。这些发现表明，亚洲经济体的可再生能源产业和金融发展在导致环境质量变化方面都没有达到成熟水平。此外，亚洲国家应促进全球化，支持绿色技术的流入，以提高环境质量。减少资源消耗、改善环境质量的高效产品。金融发展不应损害环境质量并危及可持续性。这些发现表明，亚洲经济体的可再生能源产业和金融发展在导致环境质量变化方面都没有达到成熟水平。此外，亚洲国家应促进全球化，支持绿色技术的流入，以提高环境质量。减少资源消耗、改善环境质量的高效产品。金融发展不应损害环境质量并危及可持续性。这些发现表明，亚洲经济体的可再生能源产业和金融发展在导致环境质量变化方面都没有达到成熟水平。此外，亚洲国家应促进全球化，支持绿色技术的流入，以提高环境质量。这些发现表明，亚洲经济体的可再生能源产业和金融发展在导致环境质量变化方面都没有达到成熟水平。此外，亚洲国家应促进全球化，支持绿色技术的流入，以提高环境质量。这些发现表明，亚洲经济体的可再生能源产业和金融发展在导致环境质量变化方面都没有达到成熟水平。此外，亚洲国家应促进全球化，支持绿色技术的流入，以提高环境质量。