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Exploring the Nexus of technology, environmental policy stringency, and political globalization: Pathways to achieving sustainability

Year: 2024

Type: article

Abstract: This study examines the effects of technology patents, environmental policy stringency, and political globalization on green energy markets and energy transitions in 18 OECD countries from 1990 to 2022. Two models—one focusing on renewable energy and the other on non-renewable energy—were analyzed using Method of Moments Quantile Regression (MMQR), which accounts for outliers and nonlinear relationships. The results demonstrate that technological advancement and stringent environmental policies promote the adoption of renewable energy. Additionally, political globalization shows a positive correlation with green energy while negatively impacting fossil fuel use. The study offers policy recommendations for advancing green energy transitions aligned with the net-zero carbon agenda. • Technological innovation boosts renewable energy in OECD countries. • Stringent environmental policies reduce fossil fuel dependence and boost renewables. • Political globalization supports renewable energy and reduces fossil fuel use. • MMQR method reveals varying impacts on energy consumption across quantiles.

Source: Energy Economics

DOI: 10.1016/j.eneco.2024.107979

Authors: Mubeen Abdur Rehman, Mudassar Hasan, Ugur Korkut Pata, Xihui Haviour Chen, Andreas Kontoleon