4.4 Article

Asymmetric impact of renewable energy consumption and technological innovation on environmental degradation: designing an SDG framework for developed economy

Journal

ENVIRONMENTAL TECHNOLOGY
Volume 44, Issue 6, Pages 774-791

Publisher

TAYLOR & FRANCIS LTD
DOI: 10.1080/09593330.2021.1983027

Keywords

CO2 emissions; renewable energy; nonrenewable energy; technological innovation; Spain

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This study aims to develop a Sustainable Development Goals framework for Spain and examines the impact of GDP growth, technological innovation, and energy sources on CO2 emissions. The results indicate that Spain is making progress towards decarburization.
Many European nations, including Spain, are having difficulties achieving their Sustainable Development Goals (SDGs) objectives. Resultantly, the current research discusses the development of an SDG framework for Spain, which can be utilized as a model for other EU nations. This research examines whether GDP growth, technological innovation, and energy sources (renewable and non-renewable) have any effect on CO2 emissions utilizing data from 1980 to 2018. The study applied the non-linear ARDL (NARDL) to investigate these interrelations. The outcomes from the NARDL revealed that positive (negative) shocks in renewable energy improve environmental quality in Spain. Furthermore, positive (negative) shocks in technological innovation lead to a decrease (increase) in CO2. Lastly, positive (negative) shocks in energy consumption lead to an increase (decrease) in CO2. The results reveal that Spain is on the right path towards decarburization. This research has important policy ramifications for the policymakers and government of Spain as well as neighbouring countries.

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