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Does renewable energy improve environmental quality? Evidence from RECAI countries
Chandrashekar Raghutla1, Yeliyya Kolati2
1Department of Humanities and Social Sciences, National Institute of Technology Puducherry, Karaikal, India. chandrashekar.r@nitpy.ac.in.
Environmental Science and Pollution Research International
|August 28, 2023
Summary
Renewable energy use and trade openness help control ecological footprints. However, conventional energy use and economic growth harm environmental sustainability in RECAI economies.
Area of Science:
- Environmental Science
- Economics
- Energy Policy
Background:
- Global ecological footprints have risen significantly since 1990, posing challenges to environmental quality and driving climate change.
- Economic growth has historically relied on energy and environmental strategies, with a growing recognition of the link between environmental challenges and innovation.
- The increasing ecological footprint, from 7.0 to 20.6 billion global hectares (GHA), underscores the urgent need for environmental sustainability.
Purpose of the Study:
- To investigate the impact of renewable energy utilization on the ecological footprints of Renewable Energy and Climate Adaptation Investment (RECAI) economies.
- To analyze the period from 1990 to 2020, focusing on the relationship between energy strategies and environmental quality.
Main Methods:
- Panel econometric methods were employed for empirical analysis.
- Long-run elasticities were calculated to assess the relationships between variables.
Main Results:
- Renewable energy utilization significantly controls ecological footprints.
- Trade openness also plays a crucial role in mitigating ecological footprints.
- Conventional energy utilization and economic growth were found to significantly impede environmental sustainability.
Conclusions:
- Policies promoting renewable energy and trade openness are vital for enhancing environmental quality in RECAI countries.
- Reducing reliance on conventional energy sources is essential for achieving environmental sustainability.
- Economic growth strategies must be decoupled from environmental degradation.
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