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Advancing Global Sustainability: The Role of the Sharing Economy, Environmental Patents, and Energy Efficiency in the Group of Seven’s Path to Sustainable Development

Author

Listed:
  • Yuchen Feng

    (Business School, The University of Newcastle Australia, Singapore 188064, Singapore)

  • Runguo Xu

    (School of International Relations, Yonsei University, Seoul 03722, Republic of Korea)

Abstract

Sustainable development, a key global priority, is increasingly shaped by factors such as the sharing economy, environmental patents, and energy efficiency, which have significant social, economic, and environmental implications. With rising public concern about the environment, volatile energy prices, and growing market pressure, more businesses are seeking ways to optimize energy usage. The purpose of this study is to explore the impact of green technologies, the sharing economy, and energy efficiency on environmental sustainability in the G7 countries. By utilizing quarterly data from 2014Q1 to 2020Q4, this study measures ecological sustainability using the load capacity factor. The research employs the Moments Quantile Regression (MMQR) approach to assess the relationships between variables, while the Cross-Sectionally Augmented IPS (CIPS) test is used to examine unit roots in the data. The objective of this study is to evaluate how these factors contribute to environmental sustainability and to provide policy recommendations for enhancing sustainability practices across the G7 countries. The scientific novelty of this work lies in its application of MMQR to understand the varying effects of energy efficiency, the sharing economy, and green technologies on sustainability and its incorporation of short-term quarterly data, offering fresh insights into the dynamics of these relationships. The findings reveal that an increasing number of sharing economy users and population growth positively impact environmental sustainability. Moreover, policies promoting efficient resource utilization and the sharing economy can significantly enhance sustainability. However, urbanization and industrialization pose challenges, necessitating more stringent industrial regulations and careful urban planning. The results indicate that while energy efficiency and the sharing economy hold theoretical potential for sustainability, their practical impacts can vary. To ensure long-term sustainability, the adoption of environmental patents and green technologies is critical, with initial investments yielding substantial returns as these technologies become more widely adopted. This study proposes policy recommendations including greater international collaboration, comprehensive energy policies, advanced urban planning, expanded support for green innovation, and stricter industrial regulations. The research also underscores the role of the United States in leading global sustainable development initiatives. Finally, this study suggests that future research should consider longer timeframes, advanced analytical methods, and a broader range of variables to further understand the complexities of sustainable development.

Suggested Citation

  • Yuchen Feng & Runguo Xu, 2025. "Advancing Global Sustainability: The Role of the Sharing Economy, Environmental Patents, and Energy Efficiency in the Group of Seven’s Path to Sustainable Development," Sustainability, MDPI, vol. 17(1), pages 1-28, January.
    • Handle: RePEc:gam:jsusta:v:17:y:2025:i:1:p:322-:d:1559965
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    References listed on IDEAS

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