Analyzing the Impact of Renewable Energy and Green Innovation on Carbon Emissions in the MENA Region

Abdullah Albaker, Kashif Raza Abbasi, Akram Masoud Haddad, Magdalena Radulescu (), Catalin Manescu and Georgiana Tatiana Bondac
Additional contact information
Abdullah Albaker: Department of Electrical Engineering, College of Engineering, University of Ha’il, Ha’il 81451, Saudi Arabia
Kashif Raza Abbasi: Department of Business Administration, Faculty of Management Sciences, ILMA University, Karachi 75190, Pakistan
Akram Masoud Haddad: Economics Program, Humanities, Arts and Applied Sciences, Amity University Dubai (AUD), Dubai P.O. Box 345019, United Arab Emirates
Magdalena Radulescu: Department of Finance, Accounting and Economics, University of Pitesti, 110040 Pitesti, Romania
Catalin Manescu: Academy of Economic Studies, Str. Mihail Moxa, No. 5-7, 010374 Bucharest, Romania
Georgiana Tatiana Bondac: Departament of Management-Marketing, Valahia University of Târgoviște, Sinaia Street, No. 13, 130005 Târgoviște, Romania

Energies, 2023, vol. 16, issue 16, 1-19

Abstract: The rising carbon dioxide emissions from the MENA region constitute a severe danger to the environment, public health, and the execution of the United Nations SDGs. Substantial steps are required to solve this problem and maintain the region’s sustainable future. Hence, the current study focused on distinct factors, including renewable energy, energy intensity, green innovation, GDP, and CO 2 emissions from 1990 to 2021. The research determines the multifarious variables in various quantiles, including the novel Method of Moments Quantile Regression (MMQR) approach, Fully Modified Ordinary Least Square (FM-OLS), Dynamic Ordinary Least Square (D-OLS) and Driscoll-Kraay Standard Errors (DKS) applied. The findings reveal that renewable energy significantly reduces carbon emissions in all quantiles, while energy intensity, green innovation, and GDP lead to carbon emissions in lower, middle, and upper quantiles. For robust outcome confirmed by FM-OLS, D-OLS, and DKS methods. Also, Granger heterogeneous causality applied that confirmed the bidirectional causality among the variables. The study’s findings imply that authorities should emphasize the emergence of renewable energy and green innovation while adopting energy-efficient technologies to minimize carbon emissions and accomplish SDGs 7, 9, and 13 to secure the MENA region.

Keywords: renewable energy; energy intensity; green innovation; GDP; MENA (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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