Investigating the nexus between energy, economic growth, and environmental quality: A road map for the sustainable development

This endeavor explores the nexus between health expenditure, consumption of renewable energy, economic growth, and the quality of the environment in 10 central European nations from 2005 to 2018 utilizing the techniques of fully generalized least square (FGLS) and generalized method of moments (GMM) estimation. The outcomes reveal the significant association between health, economic, and environmental factors with green energy utilization. The utilization of fossil fuels negatively influences the quality of the environment and boosts the risk of several diseases associated with the undernourishment and respiratory system and thus increases the death ratio. Furthermore, the utilization of operations based on renewable energy usage exerts a substantial favorable influence upon residents of Central European (CE) nations and thus helps decrease health and pollution-related expenses. So, there needs to be a collaboration among all the stakeholders so that green growth in the service and industrial sectors can be achieved.

Automated summary

The study findings indicate a significant association between health, economic, and environmental factors with green energy utilization, while the use of fossil fuels negatively impacts the environment and increases health risks. Operations based on renewable energy usage have a positive influence on residents, helping to reduce health and pollution-related expenses. Collaboration among stakeholders is essential for achieving green growth in the service and industrial sectors.