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<p>The transition toward a low-carbon economy poses major challenges for European countries, where persistent reliance on fossil fuels continues to drive carbon emissions and expose economies to climate-related risks. While technological innovation and climate policy are recognized as key levers for sustainability, limited empirical evidence exists on their combined effects on emissions reduction and economic resilience. This study addresses this gap by investigating the dynamic interrelations between energy technology research, development, and demonstration (RD&amp;D), climate policy stringency, GDP per capita, CO₂ emissions, and climate-induced economic losses in ten European countries from 2000 to 2023. Using a panel Vector Error Correction Model (VECM), complemented by robustness checks, we capture both short-run adjustments and long-term equilibrium dynamics. The results show that economic activity increases emissions in the short run, but sustained RD&amp;D investments significantly reduce emissions, strengthen resilience, and support sustainable development over time. Furthermore, stringent climate policies and energy taxes amplify the effectiveness of RD&amp;D by incentivizing low-carbon innovation, while technological progress mitigates climate-related economic losses. By integrating environmental and economic dimensions within a unified econometric framework, the study advances the literature on energy innovation and climate governance. The findings provide actionable insights for policymakers, highlighting the importance of stable funding for clean RD&amp;D, predictable carbon pricing, and targeted fiscal mechanisms to accelerate the transition toward climate-resilient and sustainable economies.</p>

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Energy technology RD&D and climate policy stringency: catalysts for carbon emission reduction and sustainable development in Europe

  • 期刊论文

  • 发表日期：

    2025年11月27日

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  • Ines Abdelkafi

摘要

The transition toward a low-carbon economy poses major challenges for European countries, where persistent reliance on fossil fuels continues to drive carbon emissions and expose economies to climate-related risks. While technological innovation and climate policy are recognized as key levers for sustainability, limited empirical evidence exists on their combined effects on emissions reduction and economic resilience. This study addresses this gap by investigating the dynamic interrelations between energy technology research, development, and demonstration (RD&D), climate policy stringency, GDP per capita, CO₂ emissions, and climate-induced economic losses in ten European countries from 2000 to 2023. Using a panel Vector Error Correction Model (VECM), complemented by robustness checks, we capture both short-run adjustments and long-term equilibrium dynamics. The results show that economic activity increases emissions in the short run, but sustained RD&D investments significantly reduce emissions, strengthen resilience, and support sustainable development over time. Furthermore, stringent climate policies and energy taxes amplify the effectiveness of RD&D by incentivizing low-carbon innovation, while technological progress mitigates climate-related economic losses. By integrating environmental and economic dimensions within a unified econometric framework, the study advances the literature on energy innovation and climate governance. The findings provide actionable insights for policymakers, highlighting the importance of stable funding for clean RD&D, predictable carbon pricing, and targeted fiscal mechanisms to accelerate the transition toward climate-resilient and sustainable economies.