Impact of Green Technological Innovations, ICT, and Renewable Energy on CO2 Emissions in Emerging Economies

Abstract

To understand the impact of green technological innovation (GTI) and ICT technologies on carbon emissions (CO₂), this study investigates both the direct and moderating impact of GTI, ICT technologies, renewable energy (RNE), gross domestic product (GDP), and structural change on CO₂ emissions by employing a balanced panel dataset for selected emerging economies covering 1990–2020. In this study, we used continuously updated fully modified (CUP-FM), continuously updated biased correction (CUP-BC), and panel quantile regression approach to obtain robust model estimations to cross-country dependencies and heterogeneity. The results show that GTI, RNE, and structural change significantly reduce (CO₂) emissions in the chosen economies by advancing technological advancement. Technological advancement significantly reduces CO₂ emissions in the selected economies by advancing green technologies leading to greater energy efficiency by encouraging carbon-peaking and carbon-neutrality objectives. In contrast, economic growth (GDP) favorably influences CO₂ emissions, suggesting that increased economic activity may initially lead to higher emissions but can be mitigated by technological and policy advancements. As a result, better fiscal incentives, advancement in GTI, increased utilization of RNE, and the effective use of ICT technologies can help to reduce CO₂ emissions in the selected emerging economies.