Uncovering the Drivers of Climate Change in Newly Industrialized Economies: Analyzing the Role of Renewable Energy Investments, ICT Developments, Energy Structure and Education

ABSTRACT An accurate assessment of information communication, and technology (ICT) is essential to sustainable development compliance and the low‐carbon energy transition, which in turn helps overcome climate change. The current study integrates energy structure, economic complexity, education, renewable energy investments, ICT, and banking developments within the climate change function to evaluate the environmental performance of Newly Industrialized countries. The analytical approach of the current study uses Driscoll‐Kraay standard errors, FGLS, PCSE, and system GMM as econometric methodologies to reveal that (1) economic complexity, renewable energy investments, ICT infrastructure, and education overcome climate change impacts, ensuring a “win‐win” strategy; (2) We also confirm that energy structure and banking developments must be addressed through comprehensive environmental reforms to ensure environmental sustainability. In light of our econometric investigation, the current study offers novel policy suggestions to implement clean energy policies and use ICT‐led policy mechanisms to help achieve sustainable industrialization.