Green innovation and low carbon emission in OECD economies: Sustainable energy technology role in carbon neutrality target

The rapid increase in global output has exacerbated global warming by increasing the ecological footprint through resource extraction and energy use. There has been a lot of debate about using green technologies to reduce the environmental impact of carbon footprint. Nations worldwide have vowed to cut carbon emissions through remedial measures to protect environmental quality. COP26 ' s target is a top priority for countries around the globe to achieve environmental sustainability. To attain economic and environmental efficiency in their production processes, many businesses employ the strategy or technique of environmental innovation in their production process that enables them to produce eco-friendly products. This study examines the effects of green innovation on CO2 emissions in the presence of renewable energies, carbon tax, and GDP. We use the quantile regression method, which simulates the relationship between several factors and the dependent variable's particular percentiles (or quantiles). The results show that eco-innovation, environmental related tax and renewable energies help abate the rising PCO2 emission of OECD countries. Policymakers and environmentalists will benefit from the findings of this study. To counteract environmental deterioration, green innovation and carbon taxation must be pursued by OECD countries.