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

descriptionPublicationkeyboard_double_arrow_right Article , Other literature type 23 Aug 2023Publisher:MDPI AGJournal:Energies, volume 16, page 6,138 (eissn: 1996-1073,

Authors: Ahmed Samour; Usman Mehmood; Magdalena Radulescu; Radu Alexandru Budu; Rares Mihai Nitu;

doi: 10.3390/en16176138

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

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Abstract

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.

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Keywords

Technology, insurance market, T, load capacity factor, renewable energy, ARDL, COP26, COP26; renewable energy; insurance market; load capacity factor; ARDL

Impact byBIP!

	citations This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).	12
	popularity This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.	Top 10%
	influence This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).	Average
	impulse This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.	Top 10%