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Sustainable Innovation and the Circular Economy: Regulatory and Economic Drivers

In: Circular Economy and Sustainable Innovation

Author

Listed:
  • Daniel Balsalobre-Lorente

    (University of Castilla La Mancha
    UNEC Research Methods Application Center, Azerbaijan State University of Economics (UNEC)
    Western Caspian University)

  • Niu Rong

    (Northwest Agricultural and Forestry University)

  • Syed Ale Raza Shah

    (Government College University)

  • Rena Huseynova

    (Azerbaijan State University of Economics (UNEC))

  • Naila Abbas

    (Xi’an Jiao Tong University)

Abstract

Recently, practitioners have paid momentous attention to climate change and have proposed interesting themes to address these growing challenges. However, a practical study is needed to provide a clear message to policy analysts about the real challenges and solutions. Thereupon, the present work attempts to break this suspense and portrays key problems and their best alternatives for 24 OECD economies covering the period of 2012–2023. As part of an empirical strategy, this study uses reliable estimators and obtains straightforward outcomes. For example, it finds total factor productivity, population aging, circular economy, and environmental tax revenue as leading problems to ecological sustainability. In lieu, digital transformation and sustainable innovations knowingly help to tackle those sustainability matters. Also, this work determines the green role of digital transformation and artificial intelligence in environmental sustainability. The results illustrate a decay in emissions by 0.1538 and 0.0025, validating the robust role of digital transformation in environmental management. Finally, the green implications are suggested to minimize sustainability problems.

Suggested Citation

  • Daniel Balsalobre-Lorente & Niu Rong & Syed Ale Raza Shah & Rena Huseynova & Naila Abbas, 2025. "Sustainable Innovation and the Circular Economy: Regulatory and Economic Drivers," Springer Books, in: Pardeep Singh & Shikha Daga & Kiran Yadav & Vandana Mishra (ed.), Circular Economy and Sustainable Innovation, pages 67-87, Springer.
    • Handle: RePEc:spr:sprchp:978-3-032-00437-6_4
    DOI: 10.1007/978-3-032-00437-6_4
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