Green innovation, foreign investment and carbon emissions: a roadmap to sustainable development via green energy and energy efficiency for BRICS economies

IF 6.5 3区环境科学与生态学 Q1 ECOLOGY

International Journal of Sustainable Development and World Ecology Pub Date : 2023-11-01 DOI:10.1080/13504509.2023.2268569

Queling Zeng, Mehmet Akif Destek, Zeeshan Khan, Ramez Abubakr Badeeb, Changyong Zhang

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引用次数: 0

Abstract

ABSTRACTIn contemporary times, emerging economies are intended to achieve higher economic growth via foreign direct investment and technological innovation. However, due to increased environmental challenges, these economies are adopting green energy as the key source of environmental recovery and net zero emissions. The present study investigates the influence of FDI, technological innovation, green energy, and trade on carbon emissions in BRICS economies during 1990–2022. This study also considers the role of economic expansion in identifying the environmental Kuznets curve (EKC). Using several panel diagnostic and cointegration tests, this study validates the slope heterogeneity and the existence of the cointegration between variables. Due to the non-normal data dispersion, this study uses novel moments quantile regression, while bootstrap quantile regression is used for the robustness. The results examined asserted the presence of the EKC hypothesis in the region, where the initial growth enhances emissions while after reaching at a threshold level, the emission level tends to reduce and environmental quality improves. Besides, this study observed that foreign trade and technological innovation are the key drivers of environmental degradation as these indicators significantly enhances pollution emissions. In contrast, foreign investment, energy efficiency, renewable electricity output, and renewable’s consumption significantly improve environmental quality by declining carbon emissions. Following the empirical results, the policy recommendations asserted enhanced investment in renewable and energy efficiency sectors while attracting more foreign investment for sustainable development.KEYWORDS: Foreign direct investmentgreen energyenvironmental Kuznets curvetradetechnological innovationcarbon emissions Disclosure statementNo potential conflict of interest was reported by the authors.

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绿色创新、外资和碳排放:金砖国家通过绿色能源和能效实现可持续发展的路线图

当代，新兴经济体希望通过外国直接投资和技术创新来实现更高的经济增长。然而，由于日益严峻的环境挑战，这些经济体正在采用绿色能源作为环境恢复和净零排放的主要来源。本研究调查了1990-2022年金砖国家FDI、技术创新、绿色能源和贸易对碳排放的影响。本文还考虑了经济扩张对环境库兹涅茨曲线(EKC)识别的作用。通过面板诊断和协整检验，本研究验证了斜率异质性和变量之间协整的存在。由于数据的非正态离散性，本研究采用了新颖的矩分位数回归，而鲁棒性采用了自举分位数回归。研究结果证实了EKC假设在该区域的存在，该区域的初始增长增加了排放，而在达到阈值水平后，排放水平趋于减少，环境质量得到改善。此外，研究发现，对外贸易和技术创新是环境退化的关键驱动因素，这些指标显著增加了污染排放。相比之下，外商投资、能源效率、可再生能源发电量和可再生能源消费通过降低碳排放显著改善了环境质量。根据实证结果，政策建议主张增加对可再生能源和能源效率部门的投资，同时吸引更多的外国投资促进可持续发展。关键词:外商直接投资绿色能源环境库兹涅茨曲线贸易技术创新碳排放披露声明作者未发现潜在利益冲突。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

International Journal of Sustainable Development and World Ecology 环境科学-生态学

CiteScore

11.10

自引率

3.60%

发文量

审稿时长

18-36 weeks

期刊介绍： The International Journal of Sustainable Development and World Ecology is now over fifteen years old and has proved to be an exciting forum for understanding and advancing our knowledge and implementation of sustainable development. Sustainable development is now of primary importance as the key to future use and management of finite world resources. It recognises the need for development opportunities while maintaining a balance between these and the environment. As stated by the UN Bruntland Commission in 1987, sustainable development should "meet the needs of the present generation without compromising the ability of future generations to meet their own needs."