Examining the Effects of Energy Efficiency R&D and Renewable Energy on Environmental Sustainability Amidst Political Risk in France

Oktay Özkan, Babatunde Sunday Eweade and Tomiwa Sunday Adebayo

Politická ekonomie, 2024, vol. 2024, issue Spec.issue, 331-356

Abstract: The urgent need to address climate change and the depletion of natural resources has led governments worldwide to allocate significant resources towards research and development in clean energy technologies and energy efficiency. This study evaluates the effectiveness of renewable energy and energy efficiency initiatives in reducing CO2 emissions, taking into account the influences of natural resource availability and political risk. Using data from France spanning from 1985 to 2021, we employ the kernel-based regularized least squares (KRLS) methodology, complemented by quantile regression (QR), to analyse these relationships. Our findings indicate that policies promoting energy efficiency and green energy have a positive impact on reducing CO2 emissions. However, the availability of natural resources and political risk exacerbate environmental challenges by increasing CO2 emissions. Thus, our study underscores the importance of continued support from policymakers for renewable energy development and energy efficiency research to effectively pursue Sustainable Development Goals (SDGs). Additionally, as the world prepares for COP28, our findings emphasize the urgency of these initiatives in meeting global climate targets.

Keywords: France; energy efficiency R& D; renewable energy; political risks; natural resources; environmental sustainability (search for similar items in EconPapers)
JEL-codes: C14 C53 Q42 Q55 Q58 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.18267/j.polek.1437

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