IMPACT OF INNOVATION ON CO2 EMISSIONS IN SOUTH ASIAN COUNTRIES

Abstract

Across the globe, human lifestyles are accelerating carbon emissions, and this phenomenon is especially pronounced in developing nations. As the world grapples with the compelling imperative to address severe environmental challenges, technology has emerged as a steadfast ally. Over recent decades, the advancement of cutting-edge technology and the granting of patent rights have ignited a profound discourse on novel approaches to mitigating environmental threats. In recent years, there has been a growing interest in investigating how innovations might assist in reducing carbon emissions. The current study looks at how innovation affects carbon dioxide emissions in South Asian nations. The goal of this study is to use panel OLS and fixed effects methodologies to examine the influence of innovation on CO2 emissions in five South Asian nations from 1980 to 2019. The study's findings show that carbon dioxide emissions are negatively impacting environmental quality, while technological developments help to lower these carbon emissions. The findings argue for the development of initiatives to foster and expand technical innovation, particularly in South Asian countries. This research underscores the imperative of harnessing innovation to confront the immediate environmental challenges that loom large in the twenty-first century, as we strive for a more sustainable and environmentally responsible future.