The study looked at how investing in research and development (R&D) affects both financial performance and environmental impact. By using a special test, the researchers found that increasing R&D spending can lead to lower CO2 emissions. They also discovered that better financial performance is linked to reduced CO2 emissions. Interestingly, the connection between R&D investment and financial performance can be positive or negative depending on the situation. These findings can help policymakers make decisions on how to improve financial and environmental outcomes at the same time.