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The advances in technology and innovation are prominent to boost the global economy. However, the rapid economic development in upper-middle-income countries has been coupled with an enormous expansion in carbon dioxide (CO2) emissions. As ICT, innovation, and renewable energy are key initiatives aimed at addressing carbon emissions, the purpose of this research is to assess their effects on CO2 levels in upper-middle-income countries. Utilizing data from the period 2000 to 2019, this study explores the diverse impacts of ICT (including fixed telephone subscriptions, mobile cellular subscriptions, individuals using the internet, and fixed broadband subscriptions), innovation (encompassing research and development expenditure, patent applications, and trademark applications), and renewable energy on CO2 emissions. The results show that ICT and innovation indicators are positively related to CO2 emissions and renewable energy is negatively related to CO2 emissions. During the use phase of ICT and innovative hardware, energy consumption deteriorates the environment; when ICT and innovative technology reaches the end of their useful life, recycling, disposal of e-waste in landfills, or disassembly are all environmental implications. The recommendations of this study show that it is necessary to determine how ICT and innovation may be used most effectively to decrease harmful emissions to the environment. More renewable energy should be introduced to lessen reliance on fossil fuels in order to offset any environmental harm posed by electricity usage. The novelty of this study shows that although ICT and innovation are important components for transforming a middle-income economy in-to a high-income economy, ineffectiveness in managing them that causes harmful effects on the environment could cause them to fail to transition to a high-income economy.
Lee et al. (Thu,) studied this question.