Exploring the nexuses between nuclear energy, renewable energy, and carbon dioxide emissions: The role of economic complexity in the G7 countries

Muntasir Murshed, Behnaz Saboori, Mara Madaleno, Hong Wang*, Buhari Doğan

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

13 Citations (Scopus)

Abstract

The G7 countries consist of some of the world's most economically developed nations. However, alongside such robust economic growth performances, the environmental qualities in these countries have simultaneously aggravated to raise deep concerns among the stakeholders. Hence, this study is designed to empirically examine the environmental effects of nuclear and renewable energy consumption, economic complexity, and economic growth in the context of the G7 countries for the period between 1995 and 2016. To ensure novelty, this study considers carbon footprints along with carbon dioxide emissions to measure environmental quality in the context of the G7 nations. The results reveal that although nuclear energy consumption is effective in mitigating carbon dioxide emissions and carbon footprints in the long run, renewable energy consumption degrades the environment in the G7 countries. Besides, the results also suggest that the G7 countries can transform their production processes in an environmentally friendly manner provided they can undergo a clean transition in energy use. Finally, economic growth is evidenced to be detrimental for the environment since higher economic growth levels are seen to boost both carbon dioxide emission and carbon footprint levels. Therefore, in line with the findings, this study recommends the G7 countries to significantly enhance their nuclear and renewable energy consumption levels, increase their economic complexity indices, and integrate environmental welfare policies within their economic growth strategies.

Original languageEnglish
Pages (from-to)664-674
Number of pages11
JournalRenewable Energy
Volume190
DOIs
Publication statusPublished - May 2022
Externally publishedYes

Keywords

  • Carbon footprint
  • CO2 emissions
  • Economic complexity
  • G7 countries
  • Nuclear energy
  • Renewable energy

ASJC Scopus subject areas

  • Renewable Energy, Sustainability and the Environment

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