Trends in Renewable Electricity Generation in the G20 Countries: An Analysis of the 1990–2020 Period

The key to sustainability: In-depth investigation of environmental quality in G20 countries through the lens of renewable energy, economic complexity and geopolitical risk resilience

The world is currently facing urgent climate and environmental issues, such as global warming, ecosystem collapse, and energy shortages. In this context, this study selected data from 2000 to 2021 and employed the Method of Moment Quantile Regression (MMQR) to thoroughly investigate the impact of renewable energy consumption, economic complexity, and geopolitical risks on the ecological footprint of the Group of Twenty (G20) countries. The results indicate that in countries with lower quantiles, renewable energy consumption significantly reduces the ecological footprint, whereas its effect is not prominent in countries with higher quantiles. Economic complexity has a negative impact on the ecological footprint, and this impact becomes stronger as the quantile of the ecological footprint rises. Additionally, economic complexity moderates the effect of renewable energy on the ecological footprint. Geopolitical risks facilitate the growth of the ecological footprint. Likewise, robustness tests such as DOLS, FMOLS, and quantile regression confirm these estimates in the same framework. This study has conducted a profound analysis of global environmental issues, offering innovative perspectives and recommendations for achieving goals related to sustainable energy utilization, mitigating climate change, and improving the ecological environment. The findings of this research will guide policymakers in G20 countries to adopt more effective environmental protection measures, thereby contributing to the construction of a sustainable future.

Green transition and economic growth in G20 countries: evidence from disaggregated energy sources

Green transitioning through renewable energy sources is the most effective strategy for any economy. This study investigates the extent to which G20 countries are shifting towards a green economy compared to prioritizing economic growth. To this end, the present study analyzes the nodes between income and renewable (solar, wind, hydro, and biomass) and nonrenewable (oil, coal, and gas) energy sources for the period of (1997-2020) in G20 countries. The energy-environmental Kuznets curve method is applied to study their behavior at various stages of growth. The main findings showed that wind, solar, and biomass energies have an inverted N-shaped relationship with income. The hydroelectricity did not follow any traditional EKC shape, showing a steady positive trend and growth. While nonrenewable energy consumption, i.e., coal, oil, and gas, follows an N-shaped EKC curve. The impact of foreign direct investment in the solar and wind sectors is positive. The varying outcomes concerning foreign direct investment (FDI) indicate that although G20 countries strive to achieve their green transition objectives by discouraging environmentally harmful investments, their success remains limited. The study indicates that G20 nations are progressing toward a green transition; however, additional technological innovations are required to transform these economies from brown to green. Governments can establish research institutions, offer grants and incentives, and encourage collaboration between academia, industry, and government to support green technology R&D.