THE INFLUENCING FACTORS OF CO2 EMISSIONS AND THE ADOPTION OF ECO-INNOVATION ACROSS G-7 ECONOMIES: A NOVEL HYBRID MATHEMATICAL AND STATISTICAL APPROACH
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Date
2022-09-29
Authors
Rehman, Erum
Rehman, Shazia
Mumtaz, Ayesha
Jianglin, Zhang
Shahiman, Muhammad Ali
Journal Title
Journal ISSN
Volume Title
Publisher
Frontiers in Environmental Science
Abstract
The present study empirically analyzes the role of eco-innovation in
plummeting carbon dioxide (CO2) emissions in conjunction with
renewable energy usage, foreign direct investment, and trade openness
for the states in G-7 from 1990 to 2019 in a mathematical and statistical
context. Under the dynamical framework, the estimates of mathematical
grey relational analyses indicate that eco-innovation holds a stronger
degree of association with CO2 emissions. Further, the estimates
demonstrate that, compared to the other G-7 states, Japan is the
country where eco-innovation is a more striking variable. However,
renewable energy utilization seems weaker in Japan, which
necessitates adopting renewable energy to curb carbon emissions in
the region. Statistically, the odds ratio illustrates a similar pattern,
demonstrating that the odds of occurrence for eco-innovation are
much stronger in reducing the rising levels of carbon emissions within
the G-7 states. Moreover, trade openness and foreign direct investment
were revealed to be the leading contributors to carbon emissions in
Germany and Canada, respectively, whilst appearing to be significant
variables in lowering emissions in the United States and the
United Kingdom. The outcomes of this investigation offer significant
perspectives for policymakers in formulating holistic and
environmentally friendly policies by embracing eco-innovation as a
potentially significant component for sustainable economic expansion
and environmental health.
Description
Keywords
Type of access: Open Access, eco-innovation, CO2, renewable energy, foreign direct investment, trade openness, grey mathematical modeling
Citation
Rehman, E., Rehman, S., Mumtaz, A., Jianglin, Z., & Shahiman, M. A. (2022). The influencing factors of CO2 emissions and the adoption of eco-innovation across G-7 economies: A novel hybrid mathematical and statistical approach. Frontiers in Environmental Science, 10. https://doi.org/10.3389/fenvs.2022.988921