How Do Green Technologies, Green Energy Consumption and Digitalisation Influence Environmental Sustainability in E7 Economies? A Quantile-Based Analysis

Victoria Olushola Olanrewaju and Dervis Kirikkaleli

Politická ekonomie, vol. preprint

Abstract: Governments worldwide are grappling with the challenges of climate change. Following COP28 - the Dubai consensus - it has become even clearer that achieving CO2 emissions reduction targets is crucial to prevent the global temperature from rising above 1.5°C. In this context, our study assesses these ambitious climate goals through the lens of green energy and technology adoption within the E7 nations. Using quantile regression and panel ordinary least squares (POLS) techniques on data spanning from 1991 to 2021, we provide insights into the vital role of digitalization and energy choices in reducing CO2 emissions and advancing toward carbon neutrality.The Westerlund cointegration results indicate a long-run relationship among all variables. Quantile regression findings reveal that economic growth, nonrenewable energy consumption, and green technology adoption impact CO2, while digitalization and green energy consumption help reduce CO2. The POLS results confirm the quantile regression outcomes, enhancing the robustness of the analysis. Additionally, the Dimitrescu-Hurlin panel causality test shows that all variables significantly predict CO2 and vice versa. Based on these findings, we propose green growth policies supported by renewable energy and technological advancements to help E7 nations achieve their net-zero emission targets.

Keywords: CO2 emissions; digitalisation; economic growth; green energy consumption; green technologies (search for similar items in EconPapers)
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DOI: 10.18267/j.polek.1480

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