Do Green Technology Innovation, Renewable Energy Consumption and Renewable Energy Investment Improve Environmental Quality?

Abstract

This paper discusses the effects of green technology innovation, renewable energy consumption and renewable energy investment on environmental quality. Panel data covering 81 countries from 2001 to 2020 are used to estimate the effects. The results indicate the following: First, at the total sample level, the effect of green technology innovation, renewable energy consumption and renewable energy investment on Carbon dioxide (CO[Formula: see text] emissions is significantly negative at the level of 10–1%; Second, at the subsample level, the green technology innovation and renewable energy consumption of non-Belt and Road (B&R) and high-income countries significantly affect CO2 emissions; while the green technology innovation and renewable energy consumption of middle- and low-income and B&R countries have no significant effect on CO2 emissions; Third, the endogeneity and robustness tests of the model verified that this empirical process is credible. Based on the above results, this paper proposes a series of policy implications needed to achieve carbon emission reduction and environmental quality improvement.