Abstract
This study evaluates the impacts of renewable energy, environmental taxes, environmental technology, and financial development on carbon emissions in OECD economies from 1995 to 2015 by employing system-GMM and quantile regression approaches. Our empirical analysis indicates that environmental tax negatively affects carbon emissions; economic growth impedes environmental quality by increasing carbon emissions. Further, renewable energy consumption, environmental technology, and financial development improve environmental quality by decreasing carbon emissions. We suggest that changes in policymaking to promote sustainable economic growth and environmental quality should be prevent environmental degradation, but also inspire greater investments in new technologies and energy expertise in the renewables industry.
Highlights
Sustainable environmental quality has been emphasized as a vital part to successful sustainable economic development [1,2,3]
This paper provides three contributions to existing literature: (I) It investigates the impact of environmental taxes and environmental technology on CO2 emissions by considering financial development, economic growth, and renewable energy consumption in OECD economies
We divide this literature review to discuss the nexus between CO2 emissions and each of the following: environmental taxes, environmental technology, renewable energy consumption, financial development and economic growth to provide detailed outlook of existing literature
Summary
Sustainable environmental quality has been emphasized as a vital part to successful sustainable economic development [1,2,3]. Countries around the world have pledged to reduce carbon emissions through corrective actions to safeguard environmental quality [7] This view is supported by the Paris Climate Agreement (COP21), which states that the global average atmospheric temperature will increase by two degrees Celsius in the absence of concrete environmental reforms. To the best of our knowledge, no previous study has assessed the sub-components of financial development, environmental taxes, economic growth, environmental technologies, and renewable energy consumption on CO2 emissions. This paper provides three contributions to existing literature: (I) It investigates the impact of environmental taxes and environmental technology on CO2 emissions by considering financial development, economic growth, and renewable energy consumption in OECD economies. While financial development and renewable energy consumption decrease carbon emissions, economic growth increases them.
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: 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.
