Abstract
The success of sustainable development heavily depends on successful energy transition toward renewable or carbon-free energy sources. This study attempted to analyze the impact of sustainable development and environmental initiatives on sustainable energy transition in selected OECD economies. For this purpose, the study generated the dataset of environment air and GHG emission, environmental-related technologies, development (gross domestic product, trade openness, and gross domestic spending on R&D) and sustainable environment (air and GHG emission and environmental-related technologies), and energy sources (renewable energy consumption, nonrenewable energy consumption, and sum of total energy consumption) of selected economies of OECD between 2000 and 2020. This study utilized dynamic panel GMM for regression analysis, and FMOLS and DOLS were applied as the robustness models. Empirical results indicated that sustainable development and a sustainable environment contribute positively to the energy transition process in OECD economies. However, these factors also negatively contribute to non-renewable energy consumption in OECD. Thus, the study’s outcomes confirmed the sustainable energy transition in OECD. Therefore, this study suggested that the success of Sustainable Development Goals depends on successful energy transition.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.