Abstract:

The global warming and climate change caused by greenhouse gas emissions forces all countries to review their production factors. The development of emissions-reducing technologies has been one of the priorities for countries. The impact of environmental technological innovations on CO2 emissions has been studied for 18 OECD founding member countries. In the study of the period between 2005-2018, the panel used the generalized moment method (GMM). The study used CO2 emissions as a dependent variable used energy consumption, economic growth (GDP) and technological innovation data as an independent variable. The number of patents that prevent climate change has been used as an indicator of technological innovation. According to the results of the analysis, the 1% increase in patent applications to prevent climate change reduces CO2 emissions by 0.02%. On the other hand, an increase of 1% in energy consumption leads to an increase of 0.56% over CO2 emissions. Finally, the 1% increase in GDP growth rate leads to a 0.001% increase in CO2 emissions.

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Abstract:

Global warming and climate change, caused by greenhouse gas emissions, have compelled all countries to reconsider their production factors. Developing technologies to reduce emission volumes has been one of the priority targets for countries. This study investigated the impact of environmental technological innovations on CO2 emissions in 18 OECD members. The panel generalized method of moments (GMM)was employed in the study to produce estimates for the period between 2005 and 2018. Energy consumption, economic growth (GDP), and technological innovation data were used as independent variables in the study, CO2 emissions were used as dependent variable, whereas the  number of patents preventing climate change was used as a technological innovation indicator. The analysis results showed that a 1% increase in patent applications for preventing climate change reduced CO2 emissions by 0.02%. However, a 1% increase in energy consumption caused an increase of 0.56% in CO2 emissions. Finally, the 1% increase in the GDP growth rate caused an increase of 0.002% in CO2 emissions.