Appraisal of Eco-friendly Innovation Pathways to Carbon Neutrality for Developed and Developing Nations

This study describes a two-scenario method to inspect the environmental properties of developed and developing countries’ segmented energy combinations between 1965 and 2019 to evaluate these creditable national goals. The first step of this study is to pay attention to the environmental importance of disaggregated energy amalgamation with environmental expertise, and the second state determines the case without environmental expertise. The study used the autoregressive distributed lag (ARDL) approach to explain several perceptual results. First, a considerable environmental cost remains associated with advancing environmentally friendly coal-generation innovations. Second, the development of natural gas and oil energy sources has the potential to produce a statistically substantial environmental gain. Thirdly, using separate energy sources (coal, natural gas, and oil) continues to agitate the environment without environmentally friendly technologies. Moreover, the ARDL model holds for developed and developing nations when measuring the country’s separated energy utilization via integrated environmental technologies. Finally, the autonomous use of green technologies reduces carbon emissions through positively associated advances. The conclusion suggests intuitively that achieving the 10-year objective will require energy and climate-supportive policies that foster innovation through exploration and growth. Based on the findings, this study proposes policy recommendations for various countries to mitigate the possible negative impacts of developing environmentally friendly technologies and promote the advancement of ecologically friendly technologies.