Nexus between digital economy, environmental technology, and carbon dioxide emission: The role of environmental policy and green industrial transformation

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Hayat Khan
 

Zhejiang University of Science and Technology, China

: J Biodivers Manage Forestry

Abstract

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Climate change represents a grave challenge to the global economy, environment, and societal well-being, endangering their long-term sustainability. In response to this urgent issue of climate change that threatens both economic and social sustainable development, the study emphasizes the significance of environmental policy, environmental technology, and digital economy as fundamental factors in addressing the climate change crisis. Governments adopt strict environmental policy measures and to reduce greenhouse gas emissions by integrating digital economy into renewable energy is critical for promoting global low carbon development. This research draws upon data from 34 OECD countries spanning the period between 1999 and 2020, utilizing two step system GMM model for analysis. The results shows that digital economy and environmental policy are effective in reducing climate change impacts in the form of CO2 emissions while environmental technology and green industrial transformation significantly rise carbon dioxide emission. The non-environmental factors like trade and FDI are negatively associated and thereby promote environmental protection by reducing CO2 emissions. The interactive effect of environmental technology and environmental policy exert a positive effect on carbon emission. Based on these findings, the study advocates for the implementation of rigorous policy measures by OECD economies to enforce environmental policies and by integrating digital economy and environmental technology into renewable energy in order to ensure compliance and foster sustainable practices across countries.

Biography

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Dr. Hayat Khan (PhD) is an Adjunct Professor and a distinguished scholar in Environmental Economics and Energy Economics at the School of Economics and Management, Zhejiang University of Science and Technology, Hangzhou, China. His research interests span sustainability, energy efficiency, and the environmental impact of technological innovations in energy. Prof. Khan holds editorial leadership positions at prestigious journals in USA like the Journal of Environmental Science and Economics, the Journal of Social Sciences and Management Studies, Journal of Environmental and Energy Economics, Journal of Technology Innovations and Energy and Global Sustainability Research. With extensive editorial board memberships globally, including in Pakistan and Romania, Prof. Khan's expertise is recognized internationally, reflecting his commitment to advancing knowledge in environmental and energy economics while contributing to sustainable development efforts worldwide.