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Emerging economies and ecosystems are critically dependent on fossil fuels, and a country’s energy dependence is a significant measure of its reliance on foreign suppliers. This study evaluates the impact of energy reliance on energy intensity, CO2 emission intensity, and the utilization of renewable resources in 35 developing and 20 developed nations, as well as the connection between renewable energy (REN), GDP growth, and CO2 emissions. This study employs the generalized linear model (GLM) and the robust least squares (RLS) method to assess the inverse association between renewable energy and developed and developing economy policymakers, utilizing unique linear panel estimate approaches (1970–2022). The impact of renewable energy as a response variable on economic growth, energy consumption, and CO2 emissions across four continents is investigated in this study. The findings indicate that developing countries experience a rise in per capita CO2 emissions if their renewable energy use exceeds their capacity. This finding remains significant even when other proxies for renewable energy use are introduced using modified approaches. Furthermore, it is particularly relevant to industrialized nations that possess more developed institutions. Even more surprisingly, in terms of the energy and emission intensity required for growth, energy dependence has accelerated all components. The regional analysis revealed a spillover impact in most areas, suggesting that the consequences of energy dependence are essentially the same in neighboring countries. The growth of the renewable energy sector and the decrease in greenhouse gas emissions depend critically on the ability of regional energy exchange unions to mitigate the negative environmental and economic impacts of energy dependency. These underdeveloped countries need to spend more on research and development to catch up technologically.

The use of low-carbon energy in power grids is essential for minimizing negative effects on the environment. Energy consumption causes environmental damage to the OECD's economy. This study aims to investigate the effect of energy consumption, population, and GDP on CO2 emissions using panel data from 17 OECD countries over the period 2000–2023. We use regression approaches, such as partial least squares and principal components, to study the effects of GDP, urban and total population, oil and nuclear use, renewable energy, and industrialization on CO2 emissions. The regression process in this study reduces the data to a two-dimensional representation using a stochastic model and estimation techniques. The findings of this empirical investigation indicate that the United States, Canada, France, Germany, Italy, Korea, Mexico, and the United Kingdom exhibit higher levels of primary energy consumption in comparison to value-added sectors, renewable–geothermal energy, and nuclear energy. We determined the effects of CO2 emissions, GDP, and energy consumption by considering these as the most significant elements. This has made it possible to reduce CO2 emissions by focusing one's attention and energy on the development of novel technologies, the use of renewable energy sources, and the execution of strategic plans. Attracting increasing attention are technological shifts that deliver enormous quantities of clean energy to combat climate change. Findings from this study can help environmentalists and policymakers better understand the role of structural change and energy consumption processes in the globalization process. [ABSTRACT FROM AUTHOR]

Emerging economies and ecosystems rely heavily on fossil fuels, and a country's energy dependence is a strong indicator of its reliance on foreign suppliers. This study investigates the impact of energy dependence on energy intensity, CO2 emission intensity, and the exploitation of renewable resources in 35 developing and 20 developed nations. It also explores the correlation between renewable energy, GDP growth, and CO2 emissions. This study utilizes the Generalized Linear Model (GLM) and the Robust Least Squares (RLS) method to investigate the negative correlation between renewable energy and policymakers in established and emerging economies. It also employs distinctive linear panel estimation techniques spanning from 1970 to 2022. This study examines the impact of renewable energy on economic growth, energy consumption, and CO2 emissions across four continents. Developing countries see an increase in per capita CO2 emissions when their utilization of renewable energy exceeds their capacity. Even with the introduction of several proxies for renewable energy use using changed techniques, this discovery remains valid. Moreover, this is particularly crucial for industrialized nations with well-established institutions. Energy dependency has increased the energy and carbon intensity needed for expansion across all components, which is surprising. The regional study discovered a spillover impact in most regions, indicating that the consequences of energy reliance are similar in neighboring countries. Regional energy exchange unions play a vital role in reducing the adverse environmental and economic impacts of energy dependence, which is essential for the growth of the renewable energy sector and the decrease in greenhouse gas emissions. Undeveloped countries need to enhance their investment in research and development to advance technologically. [ABSTRACT FROM AUTHOR]