Budgeting for bio-resilience: Unraveling the asymmetric impact of bioenergy technology budgets on environmental quality

In response to global challenges associated with sustainable energy and environmental preservation, prioritizing budgets for bio-resilience is a key step toward achieving environmental sustainability. This study examines the relationship between bioenergy technology budgets and environmental quality, focusing on how these budgets impact environmental quality in the top 10 countries with the highest allocations for bioenergy research and development: the USA, China, Brazil, Germany, Japan, Canada, Sweden, Finland, Denmark, and the Netherlands. Unlike previous studies that employed panel data techniques to examine the bioenergy technology-environment correlation overlooking the distinct properties of every country, the current investigation applies the Quantile-on-Quantile technique. This innovative method enriches the exactness of current analysis, delivering an all-encompassing worldwide standpoint while providing tailored insights for every specific country. The findings intimate that directing funds towards bioenergy technology promotes a cleaner environment by lowering CO2 emissions at numerous quantile levels across the selected economies. The results reveal unique patterns across countries, emphasizing the need for policymakers to conduct thorough evaluations and implement effective measures in response to changes in bioenergy funding and CO2 emissions. Aligning these investments with the Sustainable Development Goals ensures a comprehensive approach that reduces emissions while advancing economic growth, energy security, and environmental sustainability.