Analyzing the contribution of renewable energy and natural resources for sustainability in G-20 countries: How gross capital formation impacts ecological footprints
Open accessAbstract
Sustainability ensures well-being for people and communities worldwide and helps shape the world's present and future. A global transformation is required by adopting renewable energy sources to achieve sustainability. Sustainability trends have been examined using this study for the period 1992-2018 for G20 countries. The study uses indicators like ecological footprints, natural resources, renewable energy (RE), and non-renewable energy (NRE), along with gross domestic product (GDP) and capital formation. A cross-sectional-ARDL approach has been used to examine short- and long-term relationships. The presence of stationarity property, cross-sectional dependence, panel cointegration, and slope heterogeneity have been confirmed during initial testing. The empirical result confirms that using renewable energy impacts environmental sustainability in the long run and causes a decrease in ecological footprints. On the contrary, non-renewable energy and natural resources contribute to the negative shift in sustainable development. The consistency of results has also been confirmed using robustness checks under the AMG and FMOLS approaches. The study concludes that G20 countries should promote renewable energy to empower the United Nations' agenda for sustainable development.
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Biofuels provide a means to move from fossil fuels to renewable energy sources.
“Biofuels provide a means to move from fossil fuels to renewable energy sources.”
From Biofuel production: exploring renewable energy solutions for a greener future (2024) · cites this paper as [94]
Domestic production of biofuels from locally accessible feedstocks can help increase the stability and robustness of energy systems.
“Domestic production of biofuels from locally accessible feedstocks can help to increase the stability and robustness of energy systems [92–94].”
From Biofuel production: exploring renewable energy solutions for a greener future (2024) · cites this paper as [94]
Biofuels can help improve energy security by reducing reliance on imported fossil fuels.
“Biofuels can help improve energy security by reliance on imported fossil fuels.”
From Biofuel production: exploring renewable energy solutions for a greener future (2024) · cites this paper as [94]
Efficiency issues frequently arise while converting feedstocks into biofuels.
“Efficiency issues frequently arise while converting feedstocks into biofuels.”
From Biofuel production: exploring renewable energy solutions for a greener future (2024) · cites this paper as [94]
Biofuel production drives technological advancements in feedstock cultivation, conversion technology, and process optimization.
“Biofuel production drives technological advancements in feedstock cultivation, conversion technology, and process optimization.”
From Biofuel production: exploring renewable energy solutions for a greener future (2024) · cites this paper as [94]
Renewable energy sources can play an important role in lowering greenhouse gas emissions, especially in the transportation sector, when alternative renewable energy sources are limited.
“Moreover, renewable energy sources can play an important role in lowering greenhouse gas emissions, especially in the transportation sector, when alternative renewable energy sources are limited [92–94, 121].”
From Biofuel production: exploring renewable energy solutions for a greener future (2024) · cites this paper as [94]
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- Authors
- Li, Y., Wang, X., Imran, A., Aslam, M. U., & Mehmood, U.
- Affiliations
- Tianjin University of Commerce (CN)
- University of the Punjab (PK)
- Corresponding author
- Li, Ying
- Venue
- Heliyon
- Publisher
- Elsevier BV
- Published
- 2023-08
- Volume
- 9
- Issue
- 8
- Pages
- e18882
- ISSN
- 2405-8440 (ISSN-L)
- PMC
- PMC10450853
- OpenAlex
- W4385697075
- Cited by
- 43
- References
- 40
- Citations by year
- 2026: 11 · 2025: 15 · 2024: 15 · 2023: 2
- FWCI
- 8.73
- Type
- journal article
- Language
- en
- Open access
- gold
- doi.org
- Licence
- Locations
- Heliyon (publishedVersion, cc-by-nc-nd)
- PubMed Central (publishedVersion, cc-by-nc-nd)
- PubMed (publishedVersion)
- DOAJ (DOAJ: Directory of Open Access Journals) (submittedVersion, cc-by-sa)
- Topics
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Energy, Environment, Economic Growth
- Physical Sciences › Environmental Science › Management, Monitoring, Policy and Law › Sustainable Development and Environmental Policy
- Physical Sciences › Environmental Science › Environmental Engineering › Environmental Impact and Sustainability
- Keywords
- renewable energy, non-renewable energy, natural resources, ecological footprint, environmental sustainability, gross capital formation, G-20 countries, sustainable development
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