Examining the Role of Renewable Energy, Technological Innovation, and the Insurance Market in Environmental Sustainability in the United States: A Step toward COP26 Targets

Autor: Ahmed Samour, Usman Mehmood, Magdalena Radulescu, Radu Alexandru Budu, Rares Mihai Nitu
Jazyk: angličtina
Rok vydání: 2023
Předmět:
Zdroj: Energies, Vol 16, Iss 17, p 6138 (2023)
Druh dokumentu: article
ISSN: 16176138
1996-1073
DOI: 10.3390/en16176138
Popis: Investigating the determinants of environmental sustainability has become a very attractive and popular area of research in response to the United Nations’ sustainable development goals (SDGs) and COP26 targets. Against this backdrop, this paper aims to explore the effects of renewable energy, technological innovation, and the insurance market on environmental sustainability in the United States (US). This work contributes to the extant body of knowledge by exploring the effect of the insurance market on the load capacity factor (LC), specifically regarding the US. The LC tracks a certain ecological threshold by simultaneously comparing biocapacity and ecological footprint (EF), thereby providing a comprehensive empirical analysis of ecological sustainability determinants. However, this proxy includes the combined attributes of the demand and supply sides of ecological sustainability. Using the recently developed autoregressive distributed lag method, this research reveals that the insurance market adversely affects the LC in the US. The overall outcomes highlight the positive role of renewable energy, technological innovation, and the insurance market in achieving the SDGs and COP26 targets. Policy recommendations for policymakers concerning promoting renewable energy, green innovation activities, the green insurance market, and ecological regulations are also discussed.
Databáze: Directory of Open Access Journals
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