A Framework for Modeling the Decarbonization of the Economy Based on Energy Innovations in the Context of Industry 5.0 and Sustainable Development: International Perspective

The concept of Industry 5.0 emerges as a catalyst for accelerating sustainable development across various economic sectors. This article is devoted to the development of a framework for modeling the decarbonization of the economy based on energy innovation in the context of Industry 5.0 and sustainable development. The purpose of the article is to identify the stimulating factors for increasing the level of decarbonization, which corresponds to the Global Sustainable Development Goals adopted by the UN in 2015, especially Goal 7 Affordable and Clean Energy, Goal 9 Industry, Innovation, and Infrastructure, Goal 13 Climate Action and Goal 17 Partnerships for the Goals. Approaches to the formation of Industry 5.0 indicators, taking into account indicators of sustainable development and decarbonization of the economy, in particular, the Energy Transition Index, Global Innovation Energy Index, Digital Economy and Society Index, World Energy Trilemma Index, are investigated. The choice of Industry 5.0 components with indicators for the assessment of decarbonization, taking into account the components of sustainability, resilience and human-centricity, is justified. These include Energy intensity level of primary energy; Fossil CO2 Emissions in Power Sector; Patents in Climate change mitigation technology; Research and development expenditure; Industry (including construction), value added (% of GDP); Information and communication technologies (ICTs); Knowledge workers; Human capital and research. A cluster analysis of the level of decarbonization for the 26 countries selected for the study from Europe, Asia and North America is carried out. Taking into account the factors studied, the factors influencing the level of decarbonization are identified based on multivariate regression modelling. Recommendations on accelerating the decarbonization of the economy are provided, taking into account the experience of leading countries.