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A step towards sustainable development: role of green energy and environmental innovation

Author

Listed:
  • Arshian Sharif

    (Sunway Business School, Sunway University)

  • Usman Mehmood

    (University of Management and Technology
    Centre for Remote Sensing, University of the Punjab)

  • Sunil Tiwari

    (Central University of Kerala)

Abstract

The world has acknowledged the importance of natural resources to compensate for energy requirements for sustainable development. Green Energy (GE) and Eco-innovations have the potential to improve air quality by reducing CO2 emissions and ensuring sustainable development, which the available literature has neglected. Therefore, we investigate the dynamic impact of green energy and environmental innovations on the USA's economic growth and CO2 emissions. We applied the quantile-on-quantile (QARDL) approach from 1990 to 2019. Our findings indicate that GE consumption mitigates CO2 emissions by increasing economic growth in different quantiles in the USA. Furthermore, Eco-innovations also contribute to economic growth by reducing CO2 emissions in different quantiles. Additionally, Bi-directional quantile causality was found between green energy consumption, economic growth, and CO2 emissions. Thus, the empirical results of the current study provide acumens for policymakers of the USA to consume green energy and use green technology and environmental innovations to counterbalance the environmental issues induced by CO2 emissions without halting economic growth and sustainable development.

Suggested Citation

  • Arshian Sharif & Usman Mehmood & Sunil Tiwari, 2024. "A step towards sustainable development: role of green energy and environmental innovation," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 26(4), pages 9603-9624, April.
    • Handle: RePEc:spr:endesu:v:26:y:2024:i:4:d:10.1007_s10668-023-03111-5
    DOI: 10.1007/s10668-023-03111-5
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