Green Growth in the <scp>G7</scp> : Exploring the Interplay Between Economic Expansion and Environmental Sustainability

ABSTRACT Environmental deterioration (END) is a difficult issue, and this study looks at the G7 nations' link with economic growth, technical innovation, renewable energy uptake, and END from 1990 to 2022. An ever‐increasing worldwide emphasis on attaining sustainable development while mitigating the environmental consequences of economic expansion is driving this study's motivation. Because of the G7's and other high‐income economies' pivotal roles in both global emissions and sustainable development, it is critical to comprehend the relationship between these three spheres. This work uses panel data analysis to look at how R&amp;D spending, usage of renewable energy, economic growth (GDP), and globalization all affect ecological stability. Economic development worsens environmental problems unless other things stop it, according to the results, which show a negative correlation between the two, particularly at higher sustainability levels (−1.084 coefficient for GDP). Alternative energy sources, on the other hand, have a 0.605 coefficient, indicating that they significantly contribute to lowering emissions, and globalization as a whole is positively linked with environmental gains. There is a weak positive association between technical innovation (R&amp;D) and lower levels of environmental degradation, but this effect declines at greater sustainability levels, indicating that targeted innovations are more prosperous. The overall impact of R&amp;D is ambiguous. It turns out that globalization has a contradictory effect, encouraging environmentally friendly technology while also driving resource overexploitation. The study stresses the need for policies that promote technical progress, decarbonize the economy, and control globalization to promote green growth. Policymakers in high‐income nations should take note of these results as they pertain to sustainable development and climate resilience, as they provide empirical evidence of the interplay between economic, technical, and environmental objectives.