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. 2023 Sep 22;9(10):e20271.
doi: 10.1016/j.heliyon.2023.e20271. eCollection 2023 Oct.

Examining the trade-offs in clean energy provision: Focusing on the relationship between technology transfer, renewable energy, industrial growth, and carbon footprint reduction

Qiyun Zhou  1 , Jianpeng Wu  1 , Muhammad Imran  2 , Abdelmohsen A Nassani  3 , Rima H Binsaeed  3 , Khalid Zaman  2
Affiliations

Examining the trade-offs in clean energy provision: Focusing on the relationship between technology transfer, renewable energy, industrial growth, and carbon footprint reduction

Qiyun Zhou et al. Heliyon. .

Abstract

Sustainable energy mitigates climate change by reducing reliance on coal and oil for power generation, curbing global warming. It addresses environmental concerns and yields economic benefits-reduced fossil fuel dependence, financial inclusion, productive employment, and economic development. This research examines the impact of regional economic integration on environmental sustainability in 39 high-income European and Central Asian (ECA) nations from 2017 to 2021. Specifically, the study analyzes the influence of green energy demand, technological transfers, and trade openness on carbon emissions. The study employed various estimators, namely, a two-step Generalized Method of Moments (GMM) estimation, quantile regression, and the cointegration panel approach. These estimators were utilized to capture different aspects and dynamics of the research variables. The study finds that regional green programs and trade agreements effectively reduce carbon emissions, while technological advances and industrial output tend to raise them. Granger causality analyses reveal that emissions-led regional development, technical innovation, and trade openness are interconnected factors, and the deployment of renewable energy contributes to carbon emissions. The inter-temporal analysis suggests that regional economic integration factors will likely impact carbon emissions in the following decade. These findings support neoclassical growth theory, new institutional economics, and ecological modernization theory. Developing renewable energy sources in the region can minimize energy price fluctuations, strengthen energy security, and align with the carbon neutrality agenda. This research emphasizes the need for sustainable energy strategies and regional cooperation to foster a greener and more sustainable future.

Keywords: Carbon emissions; Differenced GMM estimator; Regional economic integration; Renewable energy demand; Technology transfer; Trade openness.

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Conflict of interest statement

The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper.

Figures

Fig. 1
Fig. 1
Strategies for lowering carbon emissions: A Visual Overview.
See this image and copyright information in PMC

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