The role of technological innovation, carbon finance, green energy, environmental awareness and urbanization towards carbon neutrality: Evidence from novel CUP-FM CUP-BC estimations

Abstract

After COP21, various economies start putting efforts to fulfill the pledge and achieve carbon neutrality. By doing so, scholars highlight several essential factors that can curb carbon emissions. In this lieu, the current study analyzes the role of technological innovation, carbon finance, environmental awareness, urbanization, and green energy like renewable energy consumption (REC) and renewable energy output (REO) on carbon neutrality in E7 countries covering the time span of 2006–2020. By employing CUP-FM and CUP-BC, it is revealed that technological innovation, carbon finance, environmental awareness, urbanization, REC, and REO have a positive connection with carbon neutrality in E7 countries. The study provides guidelines to the policymakers in developing policies regarding to obtain carbon neutrality using technological innovation, carbon finance, environmental awareness, and green energy.

Keywords

Technological innovation / Carbon finance / Environmental awareness / Urbanization / Green energy / Carbon neutrality

CRediT authorship contribution statement

FengSheng Chien: Writing – original draft, Methodology, Supervision, Conceptualization, Writing – review & editing, Software, Data curation, Visualization.

Declaration of Competing Interest

The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper.

Acknowledgement

We gratefully acknowledge financial support from Fujian Natural Science Foundation Project 2023J011134.

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