Evaluating the roles of energy innovation, fossil fuel costs and environmental compliance towards energy transition in advanced industrial economies
Article
Article Title | Evaluating the roles of energy innovation, fossil fuel costs and environmental compliance towards energy transition in advanced industrial economies |
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ERA Journal ID | 5850 |
Article Category | Article |
Authors | Bashir, Muhammad Farhan, Shahbaz, Muhammad, Ma, Beiling and Alam, Khorshed |
Journal Title | Journal of Environmental Management |
Journal Citation | 351 |
Article Number | 119709 |
Number of Pages | 10 |
Year | 2024 |
Publisher | Elsevier |
Place of Publication | Netherlands |
ISSN | 0301-4797 |
1093-0191 | |
1095-8630 | |
Digital Object Identifier (DOI) | https://doi.org/10.1016/j.jenvman.2023.119709 |
Web Address (URL) | https://www.sciencedirect.com/journal/journal-of-environmental-management |
Abstract | Given the dire state of climate change, investigating key elements that impact the energy transition process and help monitor progress in greenhouse gas emissions to achieve environmental sustainability is of critical importance. The current study explores the association between energy transition, compliance with environmental agreements, fossil fuels costs, environmental technologies, economic growth, and environmental degradation in G20 economies from 1995 to 2019. Our findings from extensive econometric analysis reveal that economic growth, environmental innovation, renewable energy, and environmental compliance facilitate while fossil fuels and environmental degradation hinder the energy transition process. Our findings conclude that developed countries must focus on alternate energy resources to overcome environmental challenges and subsidize renewable energy and environmental technologies to replace fossil fuels with green energy resources methodologically. Further, policy measures have been discussed in detail in the study. |
Keywords | Energy innovation; Energy transition; Environmental commitment; Fossil fuels; Sustainable development |
Contains Sensitive Content | Does not contain sensitive content |
ANZSRC Field of Research 2020 | 380105. Environment and resource economics |
380204. Panel data analysis | |
410404. Environmental management | |
Public Notes | Files associated with this item cannot be displayed due to copyright restrictions. |
Byline Affiliations | COMSATS University Islamabad, Pakistan |
School of Business | |
Centre for Health Research |
https://research.usq.edu.au/item/z398y/evaluating-the-roles-of-energy-innovation-fossil-fuel-costs-and-environmental-compliance-towards-energy-transition-in-advanced-industrial-economies
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