The Effect of Environmental Smart Technology and Renewable Energy on Carbon Footprint: A Sustainability Perspective from the MENA Region

Hind Alofaysan ()
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Hind Alofaysan: Department of Economics, College of Business Administration, Princess Nourah bint Abdulrahman University, P.O. Box 84428, Riyadh 11671, Saudi Arabia

Energies, 2024, vol. 17, issue 11, 1-15

Abstract: This paper looks at the changing impact of renewable energy and green innovation on the carbon footprint of eight MENA nations between 2000 and 2020. We investigate this by using the panel Q-ARDL model for the first time, and we find that, with various impacts across different quantiles, a rise in green innovation and renewable energy greatly boosts environmental sustainability in the short run. In the long run, this effect becomes increasingly more noticeable. According to our analysis, the chosen MENA countries quickly embraced energy storage, solar hydrogen, and other technology pathways to diversify their energy mix, which was a turning point in the fight against climate change. Although these factors have been separately examined in different studies, our research merges them into a single non-parametric model. This research is significant as it provides empirical evidence on the efficiency of green innovation and renewable energy policies, and it will guide policymakers and energy stakeholders in developing strategies to achieve sustainable development goals.

Keywords: green energy; economic growth; financial development; sustainability; green innovation (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: 2024
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