The role of governance quality on mobilizing environmental technology and environmental taxations for renewable energy and ecological sustainability in belt and road economies: A methods of Moment's quantile regression

Abstract

Climate change poses a pressing and urgent peril to the overall welfare of the planet, with far-reaching implications for human livelihoods. The aim of this research is to explore the influence of environmental technologies, environmental taxes, and FDI in B&R economies on increasing renewable energy use and lowering ecological footprints. It also strives to examine how the quality of governance in B&R nations affects the promotion of these environmental initiatives. This study presents interesting results by employing a unique Method of Moments Quantile Regression approach for the period from 1996 to 2018. This highlights the government's ability to effectively utilize environmental technologies and implement a streamlined taxation system, bolstering the renewable energy industry and addressing environmental concerns. Moreover, the study highlights the beneficial impact of governmental initiatives in attracting environmentally friendly investments in the renewable energy sector. However, significant reforms are necessary to execute taxation policies efficiently and offer strong backing for technological progress in the renewable energy industry, aiming to decrease carbon emissions substantially. The findings suggest a need for policy recommendations to increase renewable energy consumption and rectify ecological imbalances, with a focus on matching government goals and reforms associated with environmental taxation and technology.