The relationship between renewable energy consumption and the environment: The case of newly industrialized countries

SUMMARY In recent years, in line with the increase in environmental problems and sustainability goals, the use of renewable energy sources has become increasingly important. This study aims to examine the environmental relationship dimension of renewable energy consumption. In the study Dec Dec, the relationship between ecological footprint, renewable energy consumption, foreign direct investments and Gross Domestic Product was analyzed by taking the example of 10 newly industrialized countries between 2000 and 2021. In this study, panel data analysis was employed as an econometric method, with a particular focus on the Pesaran CADF unit root test, the Breusch-Pagan LM test, the homogeneity test, the Westerlund cointegration test, and the Random Coefficients Model. The empirical findings reveal that renewable energy consumption contributes to a reduction in the ecological footprint, whereas economic growth leads to an increase in it. These results are significant for enhancing our understanding of the complex relationship between environmental sustainability goals and economic development. Anahtar Kelimeler: Ecological footprint, Environmental sustainability, Gross Domestic Product, Newly industrialized countries, Renewable energy.