Unearthing Sustainable Footprints in the G21 Countries - An Empirical Evidence

Energy serves as one of the most important strategic commodities that either advances or impedes economic development and can affect the environment positively or negatively. Amidst the ongoing planetary crisis, the research problem of the current study is to focus on exploring the relationship between various macroeconomic factors and sustainability with special attention to renewable and Non-Renewable Sources of Energy (NREC) in the context of G21 countries during 2002–2022. The underlined variables i.e., GHG emissions, NREC, REC, urbanisation, stock prices, trade openness, Foreign Direct Investment (FDI), and economic growth were selected to identify the nexus between the dependent and independent variables used in different models of the study. The research data and variables adhere to a panel dataset; therefore, Generalised Linear Models (GLM) and Generalised Method of Moments (GMM) techniques were used to analyse the data. Based on the findings, it is recommended that the government should impart knowledge, organise awareness and training programmes in these countries to give social recognition and acceptance to renewable and alternative sources of energy.