Evaluating efficiency of green innovations and renewables for sustainability goals

Understanding the efficiency dynamics of green innovations is essential for advancing sustainable economic systems. This study evaluates the efficiency of forty-two countries in producing and utilizing green innovations for clean energy production and in achieving sustainable development goals from 2000 to 2020. Employing a network bias-corrected data envelopment analysis (DEA) and Malmquist productivity analysis, this study explores the adoption of green technology and its effects on economic and environmental efficiency. Findings reveal limited progress in clean energy efficiency across most countries, indicating suboptimal use of green innovations for the goals of affordable and clean energy and climate action). The results show that the efficiency pattern of green innovations follows a U-shaped curve, with initial inefficiencies followed by long-term gains. South American nations and the European Union demonstrate strong performance in integrating green technologies. However, green innovations alone appear insufficient; supportive policies, such as green taxes on emissions and renewable energy initiatives, are crucial for enhancing impact and achieving environmental sustainability.