TY - JOUR
T1 - Decarbonization through sustainable energy technologies : asymmetric evidence from 20 most innovative nations across the globe
AU - Das, N.
AU - Hossain, M. E.
AU - Bera, P.
AU - Gangopadhyay, Partha
AU - Cifuentes-Faura, J.
AU - Aneja, R.
AU - Kamal, M.
PY - 2023
Y1 - 2023
N2 - Since the discharge of carbon is one of the main causes for ongoing global warming issue and change in climate, most nations have committed to decarbonizing their economies at the COP26 summit. Thus, this investigation aims to explore the consequences of innovations in sustainable energy technologies on decarbonization in the 20 most innovative nations across the globe. In assessing the cause-and-effect relationship, we have used “Panel Non-linear Autoregressive Distributed Lag (P-NARDL)” technique. The findings demonstrated that the variables have a lasting relationship. The positive asymmetric shock in the innovations in sustainable energy technologies has a positive influence on the decarbonization of these nations, while the negative asymmetric effect is insignificant. According to the findings, clean energy negatively consequence on carbonization whereas growth in economy is favorably and considerably connected with it. The findings demonstrate that there is bidirectional causation between all variables under investigation, with the exception of the unidirectional causality flows from the usage of sustainable energy technology and emissions of CO2. In a global context, this research suggests that government should identify the roles of new sustainable energy technologies by reforming patenting regulations to rectify the environmental damages.
AB - Since the discharge of carbon is one of the main causes for ongoing global warming issue and change in climate, most nations have committed to decarbonizing their economies at the COP26 summit. Thus, this investigation aims to explore the consequences of innovations in sustainable energy technologies on decarbonization in the 20 most innovative nations across the globe. In assessing the cause-and-effect relationship, we have used “Panel Non-linear Autoregressive Distributed Lag (P-NARDL)” technique. The findings demonstrated that the variables have a lasting relationship. The positive asymmetric shock in the innovations in sustainable energy technologies has a positive influence on the decarbonization of these nations, while the negative asymmetric effect is insignificant. According to the findings, clean energy negatively consequence on carbonization whereas growth in economy is favorably and considerably connected with it. The findings demonstrate that there is bidirectional causation between all variables under investigation, with the exception of the unidirectional causality flows from the usage of sustainable energy technology and emissions of CO2. In a global context, this research suggests that government should identify the roles of new sustainable energy technologies by reforming patenting regulations to rectify the environmental damages.
UR - https://hdl.handle.net/1959.7/uws:74486
U2 - 10.1177/0958305X231183921
DO - 10.1177/0958305X231183921
M3 - Article
SN - 0958-305X
JO - Energy and Environment
JF - Energy and Environment
ER -