Technological innovations in environmental sustainability: A quantitative exploration of their impact on carbon dioxide emissions

Abstract

AbstractThe increasing concerns about climate change demand a more profound understanding of the elements influencing carbon dioxide (CO2) emissions, particularly in nations with high carbon footprints. This study embarks on a quantitative exploration of how renewable energy consumption, economic growth, and environmental technologies impact CO2 emissions across eight nations with the highest carbon emission levels. Leveraging annual data from the period 1990–2019, we undertake a meticulous empirical analysis to unearth the factors shaping the environmental quality in these countries. Our findings reveal that per capita income and environmental technologies wield a significant influence on CO2 emission levels. Delving further into causality relationships, we discern a fascinating bidirectional causal link between CO2 emissions and renewable energy consumption. In parallel, a similar bidirectional causality is spotted between renewable energy consumption and environmental technology. From CO2 emissions to environmental technology and GDP per capita to CO2 emissions and environmental technology, unidirectional causal links are also perceived. In light of these compelling results, we propose several policy recommendations aimed at promoting sustainability and fostering a healthier environmental future. Our research underscores the potential of renewable energy consumption and environmental technologies in mitigating carbon emissions and spurring a greener economy.