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Green innovation and resource efficiency to meet net-zero emission

Author

Listed:
  • Tang, Wenguang
  • Mai, Liuqing
  • Li, Meifeng

Abstract

This research delves into the interplay among green innovation, resource efficiency, and the pursuit of net-zero emissions objectives within 22 developed economies spanning the years 2000–2020, utilizing the ARDL technique. Improving the efficiency of fossil fuel consumption has an impact on achieving net-zero emissions targets, with a 1% enhancement resulting in an approximate rise of 0.14%–0.54% in the net-zero emissions index across various developed economies. The study underscores the influential role of the green economy innovation index, showcasing that even a minor 1% increase translates to tangible elevations of about 0.25%–0.39% in the net-zero emissions index, emphasizing its substantial environmental effects. Embracing green innovation and technologies is crucial for driving developed economies towards sustainability. A comprehensive strategy that encompasses enhancing fossil fuel efficiency and promoting green innovation can advance net-zero emissions, encouraging regional agreements on green economies, and fostering a robust green financing market.

Suggested Citation

  • Tang, Wenguang & Mai, Liuqing & Li, Meifeng, 2023. "Green innovation and resource efficiency to meet net-zero emission," Resources Policy, Elsevier, vol. 86(PB).
    • Handle: RePEc:eee:jrpoli:v:86:y:2023:i:pb:s030142072300942x
    DOI: 10.1016/j.resourpol.2023.104231
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    More about this item

    Keywords

    Fossil fuels utilization efficiency; Green innovation; Green recovery; Net-zero emissions policy; Advanced economies;
    All these keywords.

    JEL classification:

    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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