How technological innovation and electricity consumption affect environmental quality? A road map towards achieving environmental sustainability

Still the world witnessed an upturn in environmental degradation in spite of commitment to climate change across the nations. However, this study attempts to examine linkages among environmental degradation, technological innovation, and electricity consumption in India from 1981 to 2018 using time series data. To examine the long-run equilibrium relationship among the studied variables, we used robust econometric methods such as the autoregressive distributed lag (ARDL), fully modified ordinary least square (FMOLS), and dynamic ordinary least square (DOLS) methods. Furthermore, Granger causality also investigates through the vector error correction model (VECM) model, to assess inter-connotation among the underlying variables. From our empirical findings, urbanization, financial development, and technological innovation have a negative impact on carbon emissions, indicating long-term improvements in environmental quality. While economic development and electricity consumption are deteriorating environmental quality in India. The study's findings suggest that policymakers should prioritize renewable energy, which decreases environmental damage without impeding economic growth.

Automated summary

Despite global commitments to climate change, environmental degradation has increased worldwide. This study examines the relationship between environmental degradation, technological innovation, and electricity consumption in India from 1981 to 2018 using robust econometric methods. The findings suggest that urbanization, financial development, and technological innovation have a positive impact on environmental quality, while economic development and electricity consumption negatively affect it. Policymakers are encouraged to prioritize renewable energy to achieve both environmental protection and economic growth.