Renewable Energy, Innovation and Adaptation to Climate Change: Evidence from Europe and Central Asia

Nargiza Dekhkanova (), Dilafruz Azimova (), Elena Akhunova (), Elyor Saitov (), Shahnoza Tosheva () and Raufhon Salahodjaev ()
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Nargiza Dekhkanova: Tashkent State University of Economics, Uzbekistan,
Dilafruz Azimova: Tashkent State University of Law, Tashkent, Uzbekistan,
Elena Akhunova: Tashkent State University of Economics, Tashkent, Uzbekistan,
Elyor Saitov: University of Tashkent for Applied Sciences, Tashkent, Uzbekistan
Shahnoza Tosheva: Lab for Social and Human Capital, Tashkent, Uzbekistan.
Raufhon Salahodjaev: Lab for Social and Human Capital, Tashkent, Uzbekistan.

International Journal of Energy Economics and Policy, 2025, vol. 15, issue 6, 739-746

Abstract: The aim of this research is to examine the effect of renewable energy consumption and innovation on adaptation to climate change in Europe and Central Asia over the period 2000-2021. In this study, we use several panel data methods such as fixed effects method, two step system GMM estimator and panel corrected standard errors estimator to account for endogeneity, simultaneity and cross-sectional dependence. Our results show that renewable energy has overall positive link with adaptation to climate change, proxied by ND Gain index. We also document that innovation measured by number of patents has positive effect on ND Gain index in Europe and Central Asia. We conduct robustness tests by including additional socio-economic variables. The results remain robust. The study offers policy implications and suggests avenue for future research.

Keywords: Renewable Energy; Innovation; Adaptation to Climate Change; Europe; Central Asia (search for similar items in EconPapers)
Date: 2025
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DOI: 10.32479/ijeep.20816

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