Assessing green innovation, energy transition and natural resources abundance for sustainable footprint in Paris club

Environmental difficulties have escalated due to global warming and climate change, posing substantial hazards to environmental quality. The member nations of the Paris club are particularly affected by these challenges due to their dependence on fossil fuels, resulting in increased carbon emissions. This study evaluates the influence of green innovation, energy transition, natural resource abundance, and economic growth on sustainable footprint in Paris Club countries-covering the years 1990 to 2022. This study has employed sophisticated novel econometric methods such as Augmented Mean Group and Canonical Cointegrtaion Regression for robustness. The finding discloses that green innovation and energy transition significantly assist Paris Club economies to achieve a sustainable footprint. In contrast, natural resource abundance shows adverce impact on sustainable footprint. The finding further unveils that an increase in per capita income leads to climate change and affirms the presence of the EKC theory in Paris Club countries. Policymakers are responsible for promoting and amplifying the adoption of green technologies to switch from fossil fuel to clean energy such as green energy. It also needs to encourage responsible production and increase resource allocation and efficiency.