Financial Inclusion and environmental pollution: The role of technological innovation using

Method of Moments Quantile regression in Bangladesh

Introduction

Situated in South Asia, Bangladesh is at a crossroads of profound economic transformations and

environmental challenges. As it strides towards remarkable economic growth fueled by sectors like
textiles and technology, it faces the dual pressures of maintaining this momentum while addressing
environmental degradation and ensuring inclusive financial participation. This thesis delves into how
technological innovation, leveraged through the sophisticated analytics of the Method of Moments
Quantile Regression (MMQR), can bridge these critical areas.

At the heart of this investigation is the exploration of financial inclusion as a catalyst for sustainable
development. With a significant portion of Bangladesh's population outside the formal financial system,
there's an urgent need to democratize financial access. This includes not just traditional banking but also
innovative financial technologies that can mobilize resources for environmental initiatives and offer
novel solutions to old problems (Demirgüç-Kunt, Asli, et al. "The Global Findex Database 2017:
Measuring Financial Inclusion and the Fintech Revolution." World Bank, 2018).

Environmental pollution, particularly in air and water quality, poses a significant hurdle to the country's
sustainability ambitions. This research will examine the role of financial tools and technological
advancements in mitigating these impacts, focusing on how enhanced access to finance can foster
environmental stewardship and support green investments (Zhang, Dayong, and Hong Cao. "Financial
development, environmental quality and economic growth." Sustainability 8.7 (2016): 645).

Technological innovation emerges as a beacon of hope, offering new avenues to tackle long-standing
challenges in financial inclusion and environmental conservation. From mobile banking revolutionizing
financial accessibility to digital platforms facilitating investments in sustainability, technology stands as a
pivotal force in crafting a future where economic growth and environmental preservation go hand in
hand (Ozili, Peterson K. "Financial inclusion and fintech during COVID-19 crisis: Policy solutions." SSRN
3635673 (2020)).

This study aims to contribute to the global dialogue on sustainable development by offering evidence-
based recommendations to policymakers, financial institutions, and stakeholders. Through a meticulous
analysis of the interplay between financial inclusion, environmental pollution, and technological
innovation, it aspires to chart a course for Bangladesh towards a resilient, inclusive, and environmentally
conscious future (United Nations. "Transforming our world: the 2030 Agenda for Sustainable
Development." Division for Sustainable Development Goals, New York, NY, USA (2015)).

Background

Bangladesh's path to economic prosperity and sustainable development is a compelling story of tenacity,
creativity, and transformation. The country has undergone significant economic growth and has become
one of South Asia's most remarkable success stories, set against its verdant landscapes and vibrant urban
centers. The expansion occurs in a complex environment involving difficulties and opportunities,
especially at the nexus of economic development, environmental sustainability, and financial inclusion
(World Bank. "World Development Indicators." World Bank Publications (2020)).
Quick advancements in industries like textiles and technology have boosted Bangladesh's global
presence and contributed significantly to its GDP and employment. The threat of environmental
deterioration, however, overshadows this remarkable economic progress. Urban development, industrial
pollution, and careless waste disposal have damaged rivers, air, and land, creating significant public
health and biodiversity threats. The country is at a crucial point where it must balance the need to
maintain its economic growth with the necessity to tackle environmental weaknesses.

Financial inclusion is a crucial feature in this scenario. It involves expanding access to financial services to
enable individuals and enterprises from all social strata to engage in the financial system. Financial
inclusion is essential for promoting sustainable practices, extending beyond economic fairness. Access to
credit, insurance, and financial services can enable individuals and businesses to invest in cleaner
technology, implement sustainable agriculture practices, and support a more environmentally friendly
economy. Although there have been advancements in digital financial services and mobile banking,
transforming how financial transactions are carried out, a considerable section of the Bangladeshi
population still lacks access to the formal financial sector. This marginalization hinders their economic
progress and restricts their involvement in environ mentally sustainable projects (Sarma, Mandira, and
Jesim Pais. "Financial inclusion and development." Journal of International Development: The Journal of
the Development Studies Association 23.5 (2011): 613-628).

The swift rate of technological advancement increases the intricacy of this situation. Technology provides
a unique opportunity to overcome developmental obstacles by optimizing resource utilization, cutting
transaction expenses, and incorporating renewable energy sources. Digital financial tools and platforms
can simplify payments for environmental services, encourage the use of eco-friendly technologies, and
promote a mindset of sustainability. Conversely, the quick development of technology requires flexible
regulatory structures, the enhancement of capabilities, and increased awareness to guarantee that
technological progress aligns with environmental sustainability objectives **(Hargreaves, Tom, et al.
"Smart homes, control and energy management: How do smart home technologies influence control
over energy use and domestic life?" European Council for an Energy Efficient Economy (2010)).

As Bangladesh deals with the complex interactions of economic growth, environmental sustainability,
and financial inclusion, the importance of technical innovation is becoming more crucial. The concept
combines growth with sustainability by integrating economic inclusiveness, environmental stewardship,
and digital change. This setting provides the context for a thorough analysis of how financial inclusion,
driven by technological advancements, might be utilized to promote environmental sustainability in
Bangladesh.

Research Objectives/Questions

This thesis sets forth a series of meticulously crafted objectives and research questions, aimed at dissecting
the complex interplay between financial inclusion, environmental pollution, and the role of technological
innovations within the context of Bangladesh. The overarching goal is to unravel the mechanisms through
which financial inclusion, propelled by technological advancements, can mitigate environmental degradation
and foster a sustainable economic model. The specific objectives and research questions are as follows:

 To assess the impact of financial inclusion on environmental pollution levels in Bangladesh,

considering the mediating role of technological innovations.
 To explore how technological innovations in the financial sector can contribute to environmental
 sustainability in Bangladesh.
 To evaluate the effectiveness of the Method of Moments Quantile Regression (MMQR) in analyzing
the relationship between financial inclusion, environmental pollution, and technological innovation in
Bangladesh.
 Significance of MMQR and Chosen Variables

Significance of MMQR and Chosen Variables

The Method of Moments Quantile Regression (MMQR) was chosen for this study because it can give a very
detailed look at how financial inclusion affects pollution at different levels. MMQR goes beyond traditional
regression models by revealing the distributional effects of financial inclusion instead of just average effects.
This method is well-suited for examining the various effects of financial inclusion on environmental pollution,
which can vary greatly depending on different sectors and levels of economic activity.

The selected variables for this research have been carefully chosen to represent the diverse aspects of
financial inclusion, covering a wide range of financial services and products that may impact environmental
results. These consist of access to environmentally friendly investment loans, climate adaptation insurance
products, and savings products that encourage sustainable consumption habits. Environmental pollution
measures are chosen to offer a comprehensive perspective on environmental deterioration, including
indicators for air, water, and soil contamination. Technological innovation factors include digital financial
services, green technology adoption, and the infrastructure improvements that support these advances.

This comprehensive approach, which combines the analytical rigor of MMQR with a carefully chosen set of
variables, is ready to illuminate the complex dynamics in action. This analysis is expected to enhance the
discussion on sustainable development by providing detailed insights and evidence-based suggestions for
politicians, financial institutions, and environmental organizations. This project intends to contribute to the
academic literature and provide a practical roadmap for integrating financial inclusion with environmental
sustainability efforts in Bangladesh.

Thesis Structure Overview

The thesis has multiple significant components, starting with an in-depth literature review that places the
topic within the current research framework. The methodology chapter describes the MMQR strategy, data
sources, and rationale for variable selection. The following chapters will showcase the empirical results,
analyze their significance within the framework of Bangladesh's economic and environmental strategies, and
investigate the capacity of technological advancements to improve financial inclusion and environmental
sustainability. The thesis ends with a recap of the results, policy ideas, and recommendations for further
research in this crucial field.
 Literature review
Research Question

1. How does the level of financial inclusion in different sectors of Bangladesh's economy
affect environmental pollution metrics, when analyzed through the lens of MMQR?
This question aims to investigate the impact of financial inclusion across various economic sectors
(e.g., agriculture, industry, services) on environmental pollution, utilizing MMQR to capture the nuanced
effects across different quantiles of financial inclusion.

Ans: Gatherings;

Studies have shown that financial inclusion can have both positive and negative impacts on
environmental sustainability. On one hand, financial inclusion facilitates access to financial services and
products, which can support investments in environmentally friendly technologies and practices. This, in turn,
can contribute to reducing environmental pollution【Gao, S., Zhu, Y (2024)】. Financial inclusion combined
with technological advancement tends to allocate resources towards environmentally sustainable
technologies, thereby potentially mitigating negative impacts on emissions【Gao, S., Zhu, Y (2024)】.

On the other hand, as economies grow and financial sectors expand, the extraction and consumption of
natural resources increase, which can lead to environmental deterioration 【Du, Q., Wu, N. (2022) 】. This
complex relationship suggests that the effect of financial inclusion on environmental pollution is nuanced and
may depend on how financial resources are directed—either towards practices that enhance sustainability or
towards activities that exacerbate environmental degradation.

The use of MMQR in analyzing these effects can provide a deeper understanding by capturing the nuances
across different quantiles of financial inclusion. MMQR allows for the examination of how the impacts vary
across the distribution of financial inclusion levels, potentially identifying thresholds where financial inclusion
transitions from having a net positive to a net negative impact on environmental pollution, or vice versa.

1. Financial inclusion empowering sustainable technologies: Insights into the E-7

economies from COP28 perspectives. [Gao, S., Zhu, Y., Umar, M., Kchouri, B., & Safi, A.
(2024). Financial inclusion empowering sustainable technologies: Insights into the E-7
economies from COP28 perspectives. Technological Forecasting and Social Change, 201,
123177. https://doi.org/10.1016/j.techfore.2023.123177]

2. Impact of financial inclusion and human capital on environmental quality: evidence from
emerging economies. [Du, Q., Wu, N., Zhang, F. et al. Impact of financial inclusion and
human capital on environmental quality: evidence from emerging economies. Environ Sci
Pollut Res 29, 33033–33045 (2022). https://doi.org/10.1007/s11356-021-17945-x]

Final answer:

The relationship between financial inclusion and environmental pollution in Bangladesh,

analyzed through Method of Moments Quantile Regression (MMQR), embodies a multifaceted
dynamic that hinges on the manner in which financial resources are deployed across different sectors
 of the economy. Financial inclusion, by broadening access to financial services, can potentially serve a
dual role with respect to environmental outcomes. It can either bolster investments in green
technologies and sustainable practices, thereby mitigating pollution, or it can fuel economic activities
that heighten environmental degradation through increased resource extraction and
consumption【Gao, S., Zhu, Y (2024) 】.

MMQR, by dissecting the effects across various quantiles of financial inclusion, offers a
nuanced lens to examine this relationship. This analytical approach is crucial in unveiling the
heterogeneous impacts of financial inclusion on environmental pollution across different sectors such
as agriculture, industry, and services. It enables researchers to identify specific thresholds or points
within the financial inclusion spectrum where the impact on environmental metrics shifts from being
positive to negative, or vice versa.

While direct empirical studies specifically addressing the intersection of financial inclusion,
environmental pollution, and MMQR in Bangladesh are not readily available, the broader literature
provides a foundational understanding of the dynamics at play. It suggests that the net effect of
financial inclusion on environmental pollution is intricately linked to the direction of financial
investments. When financial inclusion steers investments towards environmentally sustainable
technologies and practices, it contributes to pollution reduction. Conversely, if it accelerates
environmentally harmful activities, pollution levels are likely to rise【Du, Q., Wu, N. (2022)】.

Therefore, in the context of Bangladesh, a critical examination of financial inclusion's impact

on environmental pollution through MMQR requires a sector-specific analysis. By correlating levels of
financial inclusion in agriculture, industry, and services with corresponding environmental pollution
metrics, and analyzing these relationships through MMQR, researchers can capture the complex and
varied effects across different segments of the economy 【Gao, S., Zhu, Y (2024) 】. This approach
not only enriches the understanding of financial inclusion's environmental implications but also aids
in formulating targeted policies that harness financial inclusion for environmental sustainability.

2. What role do technological innovations in financial services play in mediating the

relationship between financial inclusion and environmental pollution in Bangladesh?
This explores the intermediary role of technological innovations in financial services, such as
mobile banking or digital payment platforms, in shaping the impact of financial inclusion on environmental
outcomes.

Ans: Gatherings;

Technological innovations in financial services, such as mobile banking and digital payment platforms, play a
pivotal role in mediating the relationship between financial inclusion and environmental pollution. By
facilitating access to financial services, these innovations can enable individuals and organizations to adopt
environmentally friendly technologies. However, the impact of financial inclusion on environmental pollution,
mediated by technological innovation, can vary. Some studies have found that financial inclusion can lead to
environmental degradation by fueling economic activities that increase pollution, while others suggest that it
can improve environmental quality by promoting investments in green technologies. The role of technological
innovation is thus critical, as it can either exacerbate or mitigate the environmental impacts of financial
inclusion, depending on how it is applied【Ahmad, M., Ahmed, Z. (2022). 】.
 1. Financial Inclusion, Technological Innovations, and Environmental Quality: Analyzing the
Role of Green Openness. [Ahmad, M., Ahmed, Z., Bai, Y., Qiao, G., Popp, J., & Oláh, J.
(2022). Financial Inclusion, Technological Innovations, and Environmental Quality:
Analyzing the Role of Green Openness. Frontiers in Environmental Science, 10, 851263.
https://doi.org/10.3389/fenvs.2022.851263]

Final answer:

Technological innovations in financial services significantly mediate the impact of financial

inclusion on environmental pollution by either facilitating the adoption of green technologies or contributing
to increased pollution through economic expansion. The direction of financial resources, guided by
technological advancements, determines whether the environmental impacts are mitigated or
exacerbated【Ahmad, M., Ahmed, Z. (2022). 】.

3. Can MMQR illuminate the differential impacts of financial inclusion on environmental

pollution across varying levels of income and urbanization in Bangladesh?
Focusing on income and urbanization gradients, this question seeks to uncover whether financial
inclusion's impact on pollution varies across different socioeconomic strata and urban versus rural settings,
using MMQR for a detailed analysis.

Method of Moments Quantile Regression (MMQR) is a robust statistical tool capable of capturing the
nuanced effects of financial inclusion on environmental pollution across varying levels of income and
urbanization. This approach allows for a detailed examination of how the impact of financial inclusion on
environmental outcomes may differ across the economic spectrum and urbanization gradients. MMQR is
particularly useful in identifying the conditions under which financial inclusion either exacerbates or mitigates
environmental pollution, providing insights into the effectiveness of various technological innovations in the
financial sector.

1. Differential Impacts across Income Levels: Financial inclusion can have varying effects on
environmental pollution depending on the income level of individuals and households. For lower-income
groups, increased financial inclusion might lead to greater access to basic energy services, potentially
increasing their carbon footprint from a very low base. However, for higher-income groups, financial inclusion
could facilitate investments in energy-efficient appliances and renewable energy sources, thereby reducing
environmental pollution. MMQR can reveal these differential impacts by analyzing data across different
income quantiles.

2. Effects across Urbanization Levels: The impact of financial inclusion on environmental pollution
may also vary with the level of urbanization. In highly urbanized areas, where access to technology and green
finance products is likely more widespread, financial inclusion might more effectively translate into reduced
environmental pollution through the adoption of clean technologies. In contrast, in less urbanized areas, the
benefits of financial inclusion might be more limited to improving access to conventional financial services,
with a lesser focus on sustainability. MMQR's ability to disaggregate effects across different levels of
urbanization can highlight these disparities.

3. Role of Technological Innovations: Technological innovations in the financial sector, such as green
finance products and digital platforms for carbon footprint tracking, play a crucial role in mediating the
relationship between financial inclusion and environmental outcomes. By enabling better tracking of
environmental impacts and facilitating investments in sustainable practices, these technologies can
significantly influence how financial inclusion affects environmental pollution. MMQR analysis can help
identify which technological innovations are most effective in promoting sustainable practices among
different income groups and levels of urbanization.
4. How do specific technological interventions in the financial sector influence
environmentally sustainable practices among businesses and households in Bangladesh?
This examines which technological innovations in the financial sector (e.g., green finance products,
digital platforms for carbon footprint tracking) are most effective in promoting sustainable practices among
businesses and households.

Ans: Gatherings;

Technological innovations in the financial sector significantly influence environmentally

sustainable practices among businesses and households, especially in contexts like Bangladesh. These
innovations encompass a range of interventions, including green finance products and digital platforms for
carbon footprint tracking, which have been found to promote sustainable practices effectively.

Financial inclusion, combined with technological innovations, plays a crucial role in enhancing climate
resilience and contributing to economic development. However, the relationship between financial inclusion
and environmental sustainability has shown mixed outcomes. While some studies indicate that financial
inclusion can fuel environmental degradation when not aligned with climate policies, others suggest that a
higher degree of financial inclusion can curb environmental degradation by facilitating investments in green
technologies and sustainable practices【Ahmad, M., Ahmed, Z., (2022) 】.

Technological innovations are pivotal in this regard. They can help improve environmental quality by
promoting the adoption of renewable energy technologies, which in turn supports a low-carbon society.
These innovations also enable better tracking and management of ecological footprints, encouraging
businesses and households to adopt more environmentally friendly practices【Ahmad, M., Ahmed, Z., (2022)
】.

Moreover, green finance development plays a significant role in environmental sustainability. By

directing financial resources towards environmental protection projects and green industries, green finance
can significantly reduce environmental degradation. It encourages sectors, including agriculture and industry,
to adhere to environmental quality improvements. For instance, the agriculture sector's shift towards organic
farming practices is partly driven by consumer demand for environmentally friendly products, which green
finance can support by reducing the use of harmful pesticides and fertilizers【Khan, S., Akbar, A., (2022) 】.

The industrial sector is also influenced by the quality of the environment and regulatory measures
that encourage pollution-reducing innovations and the adoption of cleaner production methods. Financial
development for green projects, including those in the renewable energy domain, is crucial for reducing
industrial pollution and facilitating a shift towards more sustainable production and consumption
patterns【Khan, S., Akbar, A., (2022) 】.

These insights highlight the complex but critical role that technological interventions in the financial
sector can play in promoting environmental sustainability among businesses and households. By leveraging
financial inclusion and technological innovations, such as green finance and digital platforms for
environmental management, it is possible to support a transition towards more sustainable practices across
different sectors of the economy.

1. Financial Inclusion, Technological Innovations, and Environmental Quality: Analyzing the Role of
Green Openness. [Ahmad, M., Ahmed, Z., Bai, Y., Qiao, G., Popp, J., & Oláh, J. (2022). Financial
 Inclusion, Technological Innovations, and Environmental Quality: Analyzing the Role of Green
Openness. Frontiers in Environmental Science, 10, 851263.
https://doi.org/10.3389/fenvs.2022.851263]

2. Green finance development and environmental sustainability: A panel data analysis. [Khan, S.,
Akbar, A., Nasim, I., Hedvičáková, M., & Bashir, F. (2022). Green finance development and
environmental sustainability: A panel data analysis. Frontiers in Environmental Science, 10,
1039705. https://doi.org/10.3389/fenvs.2022.1039705]

Final answer:

Technological innovations in the financial sector, such as green finance products and digital
platforms for carbon footprint tracking, significantly influence environmentally sustainable practices among
businesses and households. Financial inclusion, when strategically aligned with climate policies, can mitigate
environmental degradation by enabling investments in green technologies and sustainable
practices【Ahmad, M., Ahmed, Z., (2022) 】. These innovations offer a dual benefit of enhancing economic
development while also improving climate resilience.

Green finance, a key technological intervention, plays a vital role in directing financial resources
towards environmental protection projects. This approach not only supports the agriculture sector's shift
towards more sustainable practices, such as organic farming, but also encourages the industrial sector to
adopt cleaner production methods. By promoting the development of environmentally friendly products and
reducing reliance on harmful chemicals and fossil fuels, green finance contributes significantly to reducing
environmental pollution【Khan, S., Akbar, A., (2022) 】.

Moreover, the adoption of renewable energy technologies, facilitated by technological innovations in

the financial sector, promotes a transition towards a low-carbon society. Such innovations enable more
efficient management of ecological footprints, encouraging both businesses and households to adopt
environmentally friendly practices【Ahmad, M., Ahmed, Z., (2022) 】.

In summary, technological innovations in the financial sector, especially through the lens of green
finance and digital environmental management platforms, are crucial for promoting sustainable practices
among businesses and households. These interventions not only aid in mitigating environmental degradation
but also support the broader goals of economic development and climate resilience.

5. What are the quantile-specific effects of financial inclusion on types of environmental

pollution (air, water, soil) in Bangladesh, as analyzed through MMQR?
This question delves into the specific types of pollution, seeking to understand how financial
inclusion might differently impact air, water, and soil pollution, using MMQR to explore these relationships
at various quantiles.

Ans: Gatherings;
Final answer:

6. What policy interventions can enhance the positive effects of financial inclusion and
 technological innovation on environmental outcomes in Bangladesh, as suggested by
MMQR analysis?
This question seeks to identify policy measures that could strengthen the beneficial impacts of
financial inclusion and technological innovations on the environment, based on insights derived from
MMQR analysis.
Ans: Gatherings;

Policy interventions that can enhance the positive effects of financial inclusion and
technological innovation on environmental outcomes in Bangladesh include integrating financial inclusion
with climate change policies, expanding access to green finance, encouraging technological innovation
through subsidies and tax benefits, promoting green trade, and adopting sustainable production and
consumption patterns. Additionally, restructuring energy consumption policies towards cleaner energy
sources is crucial【Ahmad, M., Ahmed, Z., (2022) 】.

1.Financial Inclusion, Technological Innovations, and Environmental Quality: Analyzing the

Role of Green Openness. [Ahmad, M., Ahmed, Z., Bai, Y., Qiao, G., Popp, J., & Oláh, J. (2022). Financial
Inclusion, Technological Innovations, and Environmental Quality: Analyzing the Role of Green
Openness. Frontiers in Environmental Science, 10, 851263.
https://doi.org/10.3389/fenvs.2022.851263]

Final answer:

To enhance the positive environmental outcomes of financial inclusion and technological

innovation in Bangladesh, policy measures should focus on aligning financial inclusion with climate policies,
promoting green finance accessibility, incentivizing technological innovation, facilitating green trade, and
advocating for sustainable production. Redefining energy policies towards cleaner sources is also
essential【Ahmad, M., Ahmed, Z., (2022) 】.

7. How do external shocks (e.g., natural disasters, economic crises) influence the relationship
between financial inclusion, environmental pollution, and technological innovation in
Bangladesh?
Investigating how external shocks affect this tripartite relationship, with a focus on whether
technological innovations in financial inclusion can buffer or exacerbate pollution outcomes during crises,
analyzed through MMQR.

Ans: Gatherings;

The relationship between financial inclusion, environmental pollution, and technological innovation,
especially during external shocks like natural disasters or economic crises, is complex. Studies have shown
mixed outcomes on how financial inclusion impacts environmental sustainability, with technological
innovation playing a critical role in mediating this relationship. Some findings suggest that financial inclusion
can lead to environmental degradation unless aligned with climate policies, while technological innovations
often contribute to environmental sustainability by promoting cleaner technologies and reducing emissions.
However, the specific impact of external shocks on this tripartite relationship and the buffering or
exacerbating role of technological innovations during crises in Bangladesh would require further investigation
using methodologies like MMQR for a nuanced understanding【Ahmad, M., Ahmed, Z., (2022) 】.

1.Financial Inclusion, Technological Innovations, and Environmental Quality: Analyzing the

 Role of Green Openness. [Ahmad, M., Ahmed, Z., Bai, Y., Qiao, G., Popp, J., & Oláh, J. (2022). Financial
Inclusion, Technological Innovations, and Environmental Quality: Analyzing the Role of Green
Openness. Frontiers in Environmental Science, 10, 851263.
https://doi.org/10.3389/fenvs.2022.851263]

Final answer:

The interplay between financial inclusion, environmental pollution, and technological innovation,
particularly during external shocks in Bangladesh, remains a complex domain. Research indicates varied
effects of financial inclusion on environmental outcomes, where technological innovation can either mitigate
or exacerbate pollution levels. This dynamic is further complicated during crises, suggesting the need for
tailored strategies that leverage technology for environmental sustainability 【Ahmad, M., Ahmed, Z., (2022)
】.

Literature Review Outline

I. Introduction to the Literature Review

- Brief overview of the significance of exploring the intersection of financial inclusion, environmental
pollution, and technological innovation.
- Rationale for focusing on Bangladesh as a case study.
- Introduction to the Method of Moments Quantile Regression (MMQR) as an analytical framework.

II. Financial Inclusion in Bangladesh

- Definition and scope of financial inclusion.
- Historical overview of financial inclusion developments in Bangladesh.
- Impact of financial inclusion on economic growth and poverty alleviation in Bangladesh.
- Challenges and barriers to achieving full financial inclusion in Bangladesh.

III. Environmental Pollution: Scope and Impact in Bangladesh

- Overview of environmental pollution in Bangladesh (air, water, soil).
- Sources and major contributors to environmental pollution.
- Impact of environmental pollution on public health, biodiversity, and the economy.
- Government and NGO initiatives aimed at mitigating environmental pollution.

IV. Technological Innovation in Financial Services

- Overview of technological innovation in the financial sector globally and within Bangladesh.
- Role of digital financial services (DFS) in enhancing financial inclusion.
- Examples of technological innovations contributing to environmental sustainability (e.g., green fintech,
blockchain for carbon credit trading).
- Challenges and opportunities in leveraging technology for environmental and financial inclusion goals.

V. Intersection of Financial Inclusion, Environmental Pollution, and Technological Innovation

- Exploration of how financial inclusion and technological innovation can impact environmental
sustainability.
- Case studies or examples from Bangladesh or similar contexts where financial inclusion initiatives have led
to positive environmental outcomes.
- Theoretical frameworks and models that explain the relationship between financial inclusion,
environmental pollution, and technological innovation.
VI. Method of Moments Quantile Regression (MMQR) in Environmental and Financial Inclusion Research
- Introduction to MMQR and its applicability in analyzing complex relationships.
- Review of studies that have employed MMQR to explore issues related to financial inclusion,
environmental pollution, and technological innovation.
- Potential for MMQR to uncover nuanced insights into the impacts of financial inclusion on environmental
outcomes in Bangladesh.

VII. Gaps in the Literature and Opportunities for Future Research

- Identification of gaps in the current research landscape regarding the intersection of financial inclusion,
environmental pollution, and technological innovation in Bangladesh.
- Discussion of unexplored areas that could benefit from the application of MMQR.
- Potential for future research to contribute to policy development and implementation.

VIII. Conclusion
- Summary of key findings from the literature review.
- Reflection on the importance of integrating financial inclusion, environmental sustainability, and
technological innovation in research and policy.
- Final thoughts on the role of MMQR in advancing understanding in this interdisciplinary field.