Relating energy innovations and natural resources as determinants of environmental sustainability: The role of globalization in G7 countries

Xinlu Zhao, Tomiwa Adebayo (), Xianli Kong and Mamdouh Abdulaziz Sa Al-Faryan

Resources Policy, 2022, vol. 79, issue C

Abstract: The G7 nations have yet to have a detectable influence on the accomplishment of Sustainable Development Goals (SDGs) 8, 7, and 13. This scenario might be attributed to the fundamental problem with fossil fuel utilization in these nations as well as the difficulties in putting renewable energy generalization into practice. The G7 nations are battling to lessen their ecological footprint in the aftermath of these two possibilities. This study covers between 1990 and 2018 and adopts cross-sectional augmented autoregressive distributed lags (CS-ARDL) as the main model, whereas augmented mean group (AMG) and correlated effects mean group (CCEMG) techniques are used for robustness check. This study focuses on a policy readjustment that may be necessary to address this problem. More particularly, it examines how energy innovation, globalization, and nonrenewable energy affect ecological footprint. The empirical outcomes reveal that energy innovation and globalization negatively affect ecological footprint, whereas NREC and GDP positively influence EF. Based on the empirical findings of the paper, an SDGs-focused policy agenda is proposed. SDGs 7, 8, and 13 are addressed by this policy framework, but they can be also applied to other countries. This study contributes to the attention to the G7 nations’ environmental policy concerns and a concomitant suggestion of this SDGs-focused policy framework.

Keywords: Ecological footprint; Globalization; Ageing population; Renewable energy; Ecological sustainability (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:79:y:2022:i:c:s0301420722005165

DOI: 10.1016/j.resourpol.2022.103073

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