Role of Innovations to Mitigate CO 2 e: Theory and Evidence for European Economies

Muhammad Umar Farooq, Azka Amin, Sun Peng, Cem Işık, Ramaisa Aqdas, Muhammad Akbar, Gul Sabahat and Serdar Ongan
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Muhammad Umar Farooq: Department of Economics, Government College University, Faisalabad 38000, Pakistan
Azka Amin: School of Economics, Hainan University, Haikou 570228, China
Sun Peng: School of Economics, Hainan University, Haikou 570228, China
Ramaisa Aqdas: Department of Business Administration, Iqra University, Karachi 75500, Pakistan
Muhammad Akbar: Institute of Mountain Hazards and Environment, Chinese Academy of Sciences, Chengdu 610041, China
Gul Sabahat: Department of Economics, Government College University, Faisalabad 38000, Pakistan
Serdar Ongan: Department of Economics, University of South Florida, Tampa, FL 33620, USA

Sustainability, 2023, vol. 15, issue 9, 1-13

Abstract: Even though numerous researchers have analyzed the factors of carbon emissions, technological innovation’s linear and non-linear effects on carbon emissions have not been thoroughly examined in the energy–environment literature with the Environmental Kuznets Curve framework for European economies. For this purpose, this study has employed linear and non-linear autoregressive distributed lagged models, the novel bounds testing methodologies of dynamic simulations. Renewable energy and resident and non-resident patents are the indicators of technological innovations. The findings of this study demonstrate a significant negative association of renewable energy use and technological innovation with carbon emissions, while economic growth, non-renewable energy, and urbanization have depicted a positive relationship. These findings confirm the validity of the Environmental Kuznets hypothesis for the sampled countries. It is suggested that research and development facilities are required to mitigate environmental pollution by using innovation and discouraging more use of coal in electricity generation. This study also provides policymakers with particular statistics on sector-based renewable energy initiatives, highlighting the greenhouse gas impacts in European countries.

Keywords: non-renewable energy and renewable; technology innovation; economic growth; Environmental Kuznets Curve; European economies (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
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