The relationship between renewable energy consumption, international tourism, trade openness, innovation and carbon dioxide emissions: international evidence

ABSTRACT

The main concerns for nations worldwide in accomplishing long-term development goals are avoiding the adverse effects of climate change, lowering emissions, and enhancing environmental sustainability. This study examines the effects of 53 nations' use of renewable energy, trade openness, global tourism, and innovation on carbon emissions from 1990–2019 by using FMOLS, DOLS, GMMSystem estimator. The results demonstrate that renewable energy, trade openness, and innovation reduce emissions, whereas global travel increase environmental degradation. The findings have major policy implications for adopting trade openness policies to enhance environmental quality. Innovation that enhances the environment's quality for both country groups may be a remarkable discovery for the authorities. Findings suggest that renewable energy and technological innovation are essential for sustainable development.

KEYWORDS:

• Renewable energy
• trade openness
• tourism
• innovation

Disclosure statement

Authors bear no conflict of interest in any part of the paper including designing, results, interpretations, and policy implications. No third party is involved in the design of the study; in the collection, analyses, or interpretation of data; in writing of the manuscript, or in the decision to publish the results.

Notes

1 https://www.un.org/en/climatechange/raising-ambition/renewable-energy

2 http://data.worldbank.org/indicator/NY.GDP.PCAP.CD

Additional information

Funding

This research is funded by the University of Economics and Law, Vietnam National University, Ho Chi Minh City, Vietnam.