Energies, Journal Year: 2022, Volume and Issue: 15(17), P. 6456 - 6456

Published: Sept. 4, 2022

Most countries, notably those that signed the Paris Climate Agreement, prioritize achieving zero carbon or neutrality aim. Unlike earlier studies, this one assesses contribution of environmental policy, clean energy, green innovation, and renewable energy to E7 economies’ achievement goals from 1990 2019. Findings emanating study show EKC hypothesis is valid in countries. Implying emissions countries increased with kick-off development but declined later due possible potent regulatory policies put place. Similarly, across all models, (REN), innovations (GINNO), tax (ETAX), technological (TECH) were found exert a negative significant impact on both short long run. On other hand, economic expansion (GDP) positively impacts deterioration. Furthermore, country-specific result shows that, average, Brazil, India, China, Russia, Mexico, Indonesia have aiding abatement. Except for Indonesia, income growth rest does not follow proposition. causality revealed unidirectional causal relationship between GDP, REN, GINNO CO2 emission. No was ETAX CO2, while bi-directional exists technology emissions. Based finding, policymakers should move away fossil fuels because future electricity output will be sufficient reduce considerably. Environmental regulations, encouraging adopting sustainable technology, sources, among things, demand radical broad changes.

Language: Английский