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Revolutionizing Environmental Sustainability: The Role of Renewable Energy Consumption and Environmental Technologies in OECD Countries

Author

Listed:
  • Xi Liu

    (School of Business, Jiyang College of Zhejiang A&F University, Zhuji 311800, China)

  • Yugang He

    (Department of Chinese Trade and Commerce, Sejong University, Seoul 05006, Republic of Korea)

  • Renhong Wu

    (School of Management, Kyung Hee University, Seoul 02447, Republic of Korea)

Abstract

This study examines the relationship between economic factors and environmental sustainability in OECD (Organisation for Economic Co-operation and Development) countries from 1990 to 2022, with a particular focus on the impact of renewable energy consumption and environmental technologies on CO 2 emissions. The research utilizes empirical data to establish a clear negative correlation between the adoption of renewable energy sources and the level of CO 2 emissions, highlighting the effectiveness of renewable energy in reducing the environmental impact of economic activities. This finding supports the theoretical perspective that transitioning to cleaner energy sources is vital for achieving environmental sustainability and aligns with the objectives of the OECD’s environmental sustainability program. Further analysis reveals a significant negative impact of environmental technologies on CO 2 emissions, underscoring the importance of technological innovation in environmental conservation efforts. The study also explores the dual influence of GDP growth, urbanization, industrialization, and trade on CO 2 emissions, revealing both positive and negative effects across different stages of economic development. Initially, these factors contribute to increased emissions, but as economies mature and integrate more efficient and cleaner technologies, their impact on emissions becomes negative. These findings demonstrate the complex interplay between economic development and environmental sustainability and emphasize the need for policies that encourage renewable energy adoption, support environmental technological innovations, and guide economies towards sustainable practices. The study provides valuable insights for policymakers and stakeholders, advocating for an integrated approach to ensure long-term environmental sustainability in OECD countries.

Suggested Citation

  • Xi Liu & Yugang He & Renhong Wu, 2024. "Revolutionizing Environmental Sustainability: The Role of Renewable Energy Consumption and Environmental Technologies in OECD Countries," Energies, MDPI, vol. 17(2), pages 1-21, January.
    • Handle: RePEc:gam:jeners:v:17:y:2024:i:2:p:455-:d:1320936
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