The mitigating effects of economic complexity and renewable energy on carbon emissions in developed countries

Abstract

Under the growing threats of climate change, innovation and pollution reduction have become driving forces for cleaner economic growth and the environment. This study endeavors to analyze the effect of economic complexity—understood as structural transformation toward more sophisticated and knowledge‐based production, economic progress, renewable energy consumption, and population growth over carbon emissions. Our study employs panel data for a sample of 28 OECD countries covering the period of 1990–2014. The main contribution to the energy economics literature is given by bringing together the concept of environmental degradation and economic complexity controlling via renewable energy consumption and economic and population growth. Based on the extensive empirical analysis (augmented mean group estimator, panel cointegration, and panel regression techniques), we conclude that economic complexity and renewable energy might help in mitigating the environmental degradation problems in OECD countries.

The linkages among natural resources, renewable energy consumption, and environmental quality: A path toward sustainable development

“…Another study conducted by Zafar, Mirza, Zaidi, and Hou (2019) using the data for emerging economies and recommended that these countries could reduce the polluted emission from the air by higher use of renewable energy. The similar reported by Doğan, Driha, Balsalobre Lorente, and Shahzad (2020) for developed countries. Carlos and Lorente (2020) also reported positive results between clean energy and emissions intensity.…”

Seasonal Energy Storage Potential Assessment of WWTPs with Power-to-Methane Technology

“…Other findings of this paper are in line with the conclusions of latest studies related to global carbon mitigation initiatives [60]. To mitigate environmental damage, Dogan et al [61] suggest that "OECD governments should directly invest in technological innovation to enhance sustainable economic growth" [p. 9] and Shahzad et al [62] conclude that "the policymakers of the United States should adopt policies to encourage investors to invest in cleaner energy infrastructure and advanced technologies" [p. 12]. These statements are in line with the conclusion that public funding for P2M seasonal energy storage is essential not only because of the missing capital of WWTPs, but for decreasing GHG emissions, as well.…”

Domestic material consumption and greenhouse gas emissions in the EU‐28 countries: Implications for environmental sustainability targets

“…Furthermore, the per capita share of renewable energy consumption in the panel of the EU‐28 has a significant and desirable environmental effect in both the short and long run. İn the extant literature, alternative energy sources have been significantly linked with emission mitigation or low‐emission policy and carbon actions of the region (Alola, Yalçiner, Alola, & Saint Akadiri, 2019; Alola, Bekun, & Sarkodie, 2019; Akadiri et al, 2019; Bekun, Alola, & Sarkodie, 2019; Adedoyin, Alola, & Bekun, 2020; de Llano‐Paz, Calvo‐Silvosa, Antelo, & Soares, 2015; Doğan, Driha, Balsalobre Lorente, & Shahzad, 2020; Su, Wang, Streimikiene, Balezentis, & Zhang, 2020). In addition, income per head in the panel examination displays a differing effect in the short‐ and long‐run.…”

“…_ In the case of France, Portugal and United Kingdom, the environmental effect of domestic material consumption is not desirable.Furthermore, the per capita share of renewable energy consumption in the panel of the EU-28 has a significant and desirable environmental effect in both the short and long run. _ In the extant literature, alternative energy sources have been significantly linked with emission mitigation or low-emission policy and carbon actions of the region(Alola, Yalçiner, Alola, & Saint Akadiri, 2019;Akadiri et al, 2019;Adedoyin, Alola, & Bekun, 2020;de Llano-Paz, Calvo-Silvosa, Antelo, & Soares, 2015;Do gan, Driha, Balsalobre Lorente, & Shahzad, 2020;Su, Wang, Streimikiene, Balezentis, & Zhang, 2020). In addition, income…”