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Patents on Environmental Technologies and Environmental Sustainability in Spain

Author

Listed:
  • Modupe Oluyemisi Oyebanji

    (Department of Business Administration, Faculty of Economic and Administrative Sciences, European University of Lefke, Lefke 99010, Turkey)

  • Rui Alexandre Castanho

    (Faculty of Applied Sciences, WSB University, 41-300 Dąbrowa Górnicza, Poland
    College of Business and Economics, University of Johannesburg, P.O. Box 524, Auckland Park, Johannesburg 2006, South Africa)

  • Sema Yilmaz Genc

    (Department of Economics, Faculty of Economics and Administration Sciences, Yildiz Technical University, Istanbul 34210, Turkey)

  • Dervis Kirikkaleli

    (Department of Banking and Finance, Faculty of Economics and Administrative Sciences, European University of Lefke, Lefke 99010, Turkey)

Abstract

Through an in-depth evaluation of the potential effectiveness of intellectual property protection on environmental technologies, the aim of the present research is to investigate the effect of patents on environmental innovation, energy use, GDP, and trade openness on environmental deregulation in Spain using nonlinear ARDL techniques. Specifically, the study findings indicate that patents on environmental technologies enhance environ-mental sustainability in Spain, as evidenced by the novel results from the nonlinear ARDL. Secondly, our study reveals that Spain’s growing economy degrades the quality of the environment. Based on the findings of the study, positive changes in trade openness could have positive effects on Spain’s environmental sustainability, suggesting that better productivity, more international trade, and increased economic openness could facilitate an improvement in Spain’s environmental impact. Lastly, this study provides evidence demonstrating that Spain’s environmental quality could suffer due to excessive energy consumption. In the light of this study’s policy recommendations, the policymakers and the Spanish government should encourage collaboration between private and public partnerships on environmental technologies to address global climate change or regional pollution. It is necessary for research and development to contribute to the development of technological progress in the Spanish energy sector; however, promoting patenting should be prioritized. By expanding patent protection, eco-friendly technologies that can combat carbon emissions can be developed swiftly in Spain, which will enable life to be more sustainable by lowering the use of energy and resources. A strong patent protection sys-tem will foster environmentally-friendly technologies and economic development while reducing CO 2 emissions in Spain.

Suggested Citation

  • Modupe Oluyemisi Oyebanji & Rui Alexandre Castanho & Sema Yilmaz Genc & Dervis Kirikkaleli, 2022. "Patents on Environmental Technologies and Environmental Sustainability in Spain," Sustainability, MDPI, vol. 14(11), pages 1-17, May.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:11:p:6670-:d:827584
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    References listed on IDEAS

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    Cited by:

    1. Nichele Cristina de Freitas Juchneski & Adelaide Maria de Souza Antunes, 2022. "Do the Main Developers of Electrical and Electronic Equipment Comply with the Precepts of the Circular Economy Concepts? A Patent-Based Approach," Sustainability, MDPI, vol. 14(14), pages 1-23, July.
    2. Yeguan Yu, 2023. "The Impact of Financial System on Carbon Intensity: From the Perspective of Digitalization," Sustainability, MDPI, vol. 15(2), pages 1-22, January.
    3. Berna Serener & Dervis Kirikkaleli & Kwaku Addai, 2022. "Patents on Environmental Technologies, Financial Development, and Environmental Degradation in Sweden: Evidence from Novel Fourier-Based Approaches," Sustainability, MDPI, vol. 15(1), pages 1-19, December.

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