Examining the Sustainable Development Mechanism of Green Growth, Renewable Energy, Information and Communication Technology, and Population in OECD Countries: A Panel Data Analysis

Green growth has revolutionized society by reducing carbon dioxide (CO2) emissions, intensifying energy efficiency, and promoting environmentally friendly technologies and energy utilization, eventually leading to sustainable economic development. However, research on the intricate relationship between green growth and CO2 emissions is limited. This study aims to evaluate the impact of green growth, Information and Communication Technology (ICT), renewable energy, and population on environmental sustainability for a panel of 20 OECD countries from 2000 to 2023. Cointegration regression methods (Fully Modified Ordinary Least Squares, Dynamic Ordinary Least Squares, and Pooled Mean Group-AutoRegressive Distributed Lags) and pairwise panel causality tests are applied. The empirical findings reveal that green growth and renewable energy significantly reduce CO2 emissions, whereas ICT and population growth have a positive impact on CO2 emissions. The study offers significant insights into the long-term relationships among green growth, renewable energy, ICT, and population in shaping CO2 emissions. The study helps policymakers formulate specific strategies to achieve a sustainable environment.