Role of green technology innovation and renewable energy in carbon neutrality: A sustainable investigation from Turkey

The tourism industry has long been accused of being the major driver of global warming as a result of the size of the industry and its subsequent high energy consumption, most of which comes from sources that emit carbon dioxide. However, in spite of the criticism directed towards tourism due to its negative effects on the environment, there is a scarcity of research that has aimed to ascertain its impact on the environment, thus revealing the existence of a gap in the literature. The current study uses a dynamic GMM model for 38 OECD countries from 2008 to 2019 for the purpose of filling the gap in the literature by investigating the effects of tourism development on the environment, as well as ascertaining the role of renewable energy in mitigating environmental impact. Unlike past studies that have alluded to the fact that tourism development exacerbates the emissions of carbon dioxide and hence global warming, the current research shows that in the OECD countries, tourism does not have any significant link with greenhouse gas emissions. This is because OECD nations have long started to shift from the use of fossil fuels to renewable sources of energy that do not exacerbate greenhouse gas emissions. However, the current research concurs with the findings of past studies that renewable energy consumption significantly decreases greenhouse gas emissions. The use of renewable energy sources instead of fossil fuels should continue to be encouraged in all nations for the purpose of achieving the carbon neutrality goal of the United Nations.

Section: Literature Reviewmentioning

confidence: 99%

The role of clean energy in the development of sustainable tourism: does renewable energy use help mitigate environmental pollution? A panel data analysis

Banga

Deka

Kılıç

et al. 2022

“…Economic policy uncertainty hinders corporate innovation (Cui et al, 2021;Lou et al, 2022). Innovation, especially green technology innovation, could significantly reduce PM2.5 pollution (Feng et al, 2021;Shan et al, 2021;Chien et al, 2021;Khattak et al, 2022). So, economic policy uncertainty could affect a country's PM2.5 pollution through corporate innovation channel.…”

Section: Theoretical Mechanism and Hypothesis Developmentmentioning

confidence: 99%

The impact of economic policy uncertainty on PM2.5 pollution—evidence from 25 countries

Xin

2022

We conduct theoretical and empirical study on the impact of economic policy uncertainty on PM2.5 pollution. Economic policy uncertainty has important impact on PM2.5 pollution through investment channel and innovation channel. Specifically, according to real option theory, increase in economic policy uncertainty can reduce investment, thereby reducing PM2.5 pollution. However, increase in economic policy uncertainty can hinder corporate’s innovation activities, which in turn make PM2.5 pollution increase. Therefore, the impact of economic policy uncertainty on PM2.5 pollution depends on the combination effect of these two different effects. Furthermore, using 25 countries’ unbalanced panel data and fixed effects estimation methods, we empirically test the impact of economic policy uncertainty on PM2.5 pollution. The results show that, with the increase of economic policy uncertainty, countries’ PM2.5 pollution has significantly decreased. In addition, economic policy uncertainty has heterogeneous effect on countries’ PM2.5 pollution. Compared with countries who have higher R&D input, increase in economic policy uncertainty makes the reduction of PM2.5 pollution in countries with relatively lower R&D input higher. By changing the measurement methods of economic policy uncertainty and PM2.5 pollution indicators, and using 2SLS methods to estimate the models, the conclusions of the paper are robust. Finally, we put forward corresponding policy implications.

“…According to Anam Ahmed (2019), the application of technology innovations lessens the cost of production. Technological innovation plays an important part in attaining environmental sustainability by combating climatic disasters and reducing greenhouse gas (GHG) emissions and other energy-related problems (Shan et al 2021 ). Innovation has a huge potential to influence environmental sustainability by applying new technologies.…”

Section: Introductionmentioning

confidence: 99%

Investigating possibility of achieving sustainable development goals through renewable energy, technological innovation, and entrepreneur: a study of global best practice policies

Philip

Emir²,

Udemba

2022

This study is anchored on the global best practice policies for achieving sustainable goals for Malaysia. Malaysia is among the countries that made commitment at 2015 United Nations Climate Change Conference to reduce its carbon emissions by 2030. This is expected to contribute to the country’s sustainable development. Malaysian quarterly data of 1992Q1–2019Q4 with relevant policy-based instruments (renewable energy policy, technological innovations, financial development, and entrepreneur activities) are adopted in our study for explicit and clear insight on the subject. Different scientific and analytical methods are equally applied in this study, but the focus and emphasis are laid on the findings from linear (dynamic ordinary least square, DOLS) and non-linear autoregressive distributed lag (NARDL) and Granger causality. Findings from both NARDL and DOLS confirmed the positive shocks of renewable energy policy, technological innovations, financial development, and entrepreneur activities are mitigating carbon emissions. Also, inverted U shape of EKC hypothesis is found for Malaysia. Findings from Granger causality support the findings from both estimates by establishing both feedback and unidirectional causal nexus among the instruments. From the finding myms, policy-based instruments are mitigating carbon emissions in Malaysia; thus, it will be a very good idea to frame policies around these instruments.