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