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The study assesses the relationship between technology innovation and renewable energy in the G10 countries. According to the findings, technology innovation has a significant impact on renewable energy in various countries, including Germany, the Netherlands, Sweden, the UK, and the USA. It argues that technological innovation is one of the most important elements in renewable energy in these countries because of their strong innovative base and huge spending on research and development. However, the results for the remaining countries show no causation from technology innovation to renewable energy, implying that variables other than technology innovation drive renewable energy development. On the other hand, renewable energy does Granger cause technology innovation in Germany, the Netherlands, and the USA. These countries need to invest in implementation instead of spending on the existing infrastructure. Furthermore, the increased dependence on fossil fuels and nuclear energy may leave renewables undeveloped, with less emphasis on renewable-technology diffusion. [ABSTRACT FROM AUTHOR]

Sustainable economic development with minimal negative environmental impact is one of the biggest global challenges. The linear system concludes because of rising consumption, production, and economic growth, which makes the system out of resources and results in economic crisis and environmental pollution. The rolling window approach used in the study provides detailed information regarding the relationship between carbon emissions and the circular economy in the Netherlands from 2000:01 to 2020:12. In the full sample causality, the finding reveals the positive influence of the circular economy on carbon emissions. The rolling window explores the causal impact in the sub-sample when there is a time-varying effect. It finds that the circular economy has a negative influence on carbon emissions in certain sub-samples due to a variety of causes. On the other hand, carbon emissions have improved the circular economy's ability to address environmental challenges. Thus, our findings prove the existence of a reciprocal link between the circular economy and carbon emissions. Transitioning to the circular economy setup requires the comprehensive development of models for controlling emissions. The detailed understanding derived from the circular economy will help policymakers to plan the policy for mitigating environmental issues. [ABSTRACT FROM AUTHOR]