Assessing the Damage to Environmental Pollution: Discerning the Impact of Environmental Technology, Energy Efficiency, Green Energy and Natural Resources

Sana Fatima, Md. Emran Hossain, Mohammed Alnour, Shamsa Kanwal, Mohd Ziaur Rehman and Miguel Angel Esquivias
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Sana Fatima: Symbiosis School for Online and Digital Learning, Symbiosis International (Deemed University), Pune 412115, India
Mohammed Alnour: Department of Economics, Institute of Social Sciences, Erciyes University, Melikgazi-Kayseri 38039, Türkiye
Shamsa Kanwal: School of Economics, Finance and Business, Universiti Utara Malaysia, Sintok 06010, Malaysia
Mohd Ziaur Rehman: Department of Finance, College of Business Administration, King Saud University, P.O. Box 71115, Riyadh 11587, Saudi Arabia
Miguel Angel Esquivias: Faculty of Economics and Business, Airlangga University, Surabaya 60286, Indonesia

Sustainability, 2024, vol. 16, issue 21, 1-16

Abstract: The existing literature covers the topic of environmental pollution, but there is a scarcity of research that specifically examines the factors contributing to financial losses caused by carbon emissions. In this perspective, this ongoing analysis provides an understanding of the impact of environmental technology, energy efficiency, renewable energy consumption, natural resources, and economic growth on carbon dioxide damage in Organization for Economic Cooperation and Development (OECD) countries from 2000 to 2021 using the “Method of Moments Quantile Regression (MMQR)”, and “Dumitrescu–Hurlin (D-H)” causality test. The findings from the MMQR revealed that environmental control technology, renewable energy consumption, and energy efficiency contribute to reducing carbon dioxide damage at different quantiles. It was also found that economic growth and natural resources contribute to the increase in carbon dioxide damage in various quantities. Additionally, a one-way causality result was obtained from environmental technology, energy efficiency, renewable energy consumption, natural resources, and economic growth towards carbon dioxide damage. These results indicate that policymakers in OECD nations should provide suggestions on the efficient utilization of renewable energy sources and environmentally friendly technologies to minimize carbon dioxide damage.

Keywords: environmental damage; environmental technology; energy efficiency; green energy; natural resources (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
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