The effect of technological innovation, trademark application, economic growth, and CO2 emissions on renewable energy consumption in Asian Belt and Road initiative countries

This study aims to investigate the relationship between several factors, including innovation indicators, trademark applications, carbon emissions, economic growth, and renewable energy consumption, in the context of the Belt and Road initiative countries. The research covers a period from 1980 to 2019 and focuses on 25 participating countries. The findings reveal that patent applications made by residents have a significant negative impact on the utilization of renewable energy. In contrast, patent applications made by nonresidents do not have a noteworthy effect on renewable energy consumption. The study also highlights the detrimental effects of carbon dioxide emissions, trademark applications, and foreign direct investment on the usage of renewable energy. Conversely, trademark and patent applications made by both residents and nonresidents positively influence renewable energy consumption, according to the fixed effect estimator. Furthermore, the research suggests that technology has both positive and negative consequences for renewable energy consumption, while trademark applications generally exert a positive influence. Foreign direct investment, carbon emissions, trade, and GDP are found to be negatively associated with renewable energy consumption in various models. To promote renewable energy sources, reduce reliance on fossil fuels, and enhance the environment, it is recommended that the Belt and Road countries prioritize innovation. Technological advancements can contribute to energy-efficient machinery, low emissions, and improved energy efficiency, thereby safeguarding the environment. Governments are advised to allocate research and development funds to encourage innovation and technological advancements in energy-efficient and technology-intensive production processes.