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Abstract
To design an ample policy for sustainable development has become crucial for developed and developing nations. Environmental awareness adjusted sustainable development policy is a challenge for developing nations. Therefore, this work attempts to investigate the impacts of renewable energy on CO2 emissions by including other factors like, education, GDP, natural resources and foreign direct investment for G11 economies over the time period of 1990–2019. The empirical results show that renewable energy and education reduce CO2 emissions by 0.49 and 0.11% respectively. Foreign direct investment and natural resources degrade the environment 0.15% and 0.09% respectively. Heterogeneous causality results show feedback association between renewable energy, education, GDP and CO2 emissions. This work provides policy implication for G11 countries to invest on renewable and education sector. Therefore, these countries can achieve sustainable goals in a systematic way.
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