Energy & Environment, Journal Year: 2023, Volume and Issue: unknown

Published: July 4, 2023

With the ongoing expansion of global economic activities, environmental degradation has emerged as a progressively severe challenge. The Sustainable Development Goals are significantly impacted by this issue, making it essential to establish symbiotic relationship between development and protection. In context, an investigation into efforts OECD promote ecological protection assumes critical role, given its prominent position leading cooperation organization. Therefore, we examine efficiency, financial development, renewable energy, industrialization, footprint in 36 countries from 1995 2018. An empirical analysis employing fully modified Ordinary Least Square technique reveals inverted U-shaped curve efficiency footprint, supporting Kuznets (EKC) hypothesis countries. Moreover, research that industrialization exacerbate damage, while advancement energy plays pivotal role controlling fostering conservation. Furthermore, introducing interaction terms, find weaken positive effect on reinforces it. Finally, findings Dumitrescu-Hurlin panel causality show causal all three variables, namely consumption, is bidirectional. contrast, degree unidirectional. These provide practical policy recommendations for sustainable offers valuable insights lessons can inform formulation relevant policies other regions. Overall, study not only innovatively enriches theoretical content EKC perspective but also important guidance significance.

Language: Английский