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The impacts of renewable energy and institutional quality in environmental sustainability in the context of the sustainable development goals: A novel approach with the inverted load capacity factor

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Abstract

It is crucial to fulfill sustainable development goals in combating environmental pollution. Recently, there has been a growing literature on environmental pollution; however, while many proxies represent environmental pollution, few proxies represent environmental sustainability. In this paper, we examine the effects of institutional quality (SDG-16), economic growth (SDG-8), and renewable energy (SDG-7) on the inverted load capacity factor (SDG-13) in OECD countries from 1999 to 2018. The objective is to ensure environmental sustainability within the Sustainable Development Goals (SDGs) framework. In this respect, the study differs from the existing literature by approaching the sustainable environment literature from a broader perspective. Long-term empirical estimates from the PMG-ARDL technique have shown that institutional quality, reel income, and population increase the inverted load capacity factor, that is, decrease environmental sustainability. However, on the contrary, renewable energy decreases the inverted load capacity factor. Therefore, renewable energy consumption helps reach SDG-7 and SDG-13 in OECD countries. In addition, it is found that economic growth is significant both in the long run and in the short run, and the impact of economic growth on the environment is greater in the short run than in the long run. This result supports the environmental Kuznets curve (EKC) hypothesis for OECD countries. The panel causality test results find a bidirectional causality relationship from renewable energy and population to inverted load capacity factor and a unidirectional causality relationship from institutional quality to inverted load capacity factor. This study argues that policymakers should concentrate on deploying environmentally friendly technology to slow down environmental degradation, increase the usage of renewable energy sources, and promote sustainable development in line with the SDGs.

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Fig. 1

Source: Global Footprint Network

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Source: Global Footprint Network

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Source: Global Footprint Network

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Data availability

The datasets generated and analyzed during the current study are available in the World Bank Indicator, http://data.worldbank.org

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Authors and Affiliations

  1. Department of International Trade and Finance, Aydin Adnan Menderes University, Nazilli, 09800, Aydin, Türkiye

    Mehmet Metin DAM

  2. Department of Economics, Faculty of Economics and Administrative Sciences, Anadolu University, Tepebaşı, Eskişehir, Türkiye

    Cem Işık

  3. Adnan Kassar School of Business, Lebanese American University, Beirut, Lebanon

    Cem Işık

  4. Department of Economics, University of South Florida, Tampa, USA

    Serdar Ongan

Authors
  1. Mehmet Metin DAM
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  2. Cem Işık
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  3. Serdar Ongan
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Contributions

Conceptualization: M.D., and C.I.; methodology: M.D., Software: M.D. investigation, writing—original draft preparation: M.D. and C.I. writing—review and editing, M.D., C.I. and S.O., Editing; R.A. and M.I., supervision, S.O. all authors have read and agreed to the published version of the manuscript.

Corresponding author

Correspondence to Cem Işık.

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Responsible Editor: Arshian Sharif

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Appendix

Appendix

Table 10 Studies focusing on the impact of institutional quality on environmental degradation
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DAM, M.M., Işık, C. & Ongan, S. The impacts of renewable energy and institutional quality in environmental sustainability in the context of the sustainable development goals: A novel approach with the inverted load capacity factor. Environ Sci Pollut Res 30, 95394–95409 (2023). https://doi.org/10.1007/s11356-023-29020-8

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