The effect of global innovation, green innovation and financial development on carbon emissions and renewable energy: A research on OECD countries

In our age, the inevitable increase in the human population, environmental pollution, the rapid depletion of limited natural resources, the depletion of the ozone layer, global warming, climate change, etc. have brought many problems behind them. In terms of what can be done to close the hole in the ozone layer, which causes the world's temperature to increase, reducing greenhouse gas emissions and increasing the use of renewable energy sources appear as solutions that have come to the fore in previous studies. For this reason, it is important to determine the factors affecting carbon emissions and renewable energy. In this context, in this study, it is aimed to determine the effects of global innovation, green innovation and financial developments on carbon emissions and renewable energy. While creating the data set within the scope of the study, Gross Domestic Product (GDP), Total Labor Force (TIG), Environmental Patent (FP), Loans Given to Private Enterprises (ÖYİK), Renewable Energy (RE) belonging to 33 OECD countries between the years 2012-2021. and Greenhouse Gas (CO2) variables are discussed. The data were analyzed using the R studio program and two different panel data models, Model 1 and Model 2, were established. In the models, Global Innovation Index variable representing global innovation, Environmental Patent variable representing green innovation, Private Domestic Credits representing financial development, and Total Labor and Gross Domestic Product variables as control variables. According to Model 1, it has been concluded that the total workforce and green innovation variables have a statistically negative and significant effect on greenhouse gas. According to Model 2, it has been determined that there is a statistically significant relationship between renewable energy, Gross Domestic Product and Total Labor Force, and a negative relationship between Environmental Patent and Environmental Patent. It is concluded that green innovation has a significant effect on both greenhouse gas emissions and renewable energy, and financial development does not have a significant effect on greenhouse gas emissions and renewable energy.