The Effect of Environmental Smart Technology and Renewable Energy on Carbon Footprint: A Sustainability Perspective from the MENA Region

Abstract

This paper looks at the changing impact of renewable energy and green innovation on the carbon footprint of eight MENA nations between 2000 and 2020. We investigate this by using the panel Q-ARDL model for the first time, and we find that, with various impacts across different quantiles, a rise in green innovation and renewable energy greatly boosts environmental sustainability in the short run. In the long run, this effect becomes increasingly more noticeable. According to our analysis, the chosen MENA countries quickly embraced energy storage, solar hydrogen, and other technology pathways to diversify their energy mix, which was a turning point in the fight against climate change. Although these factors have been separately examined in different studies, our research merges them into a single non-parametric model. This research is significant as it provides empirical evidence on the efficiency of green innovation and renewable energy policies, and it will guide policymakers and energy stakeholders in developing strategies to achieve sustainable development goals.