Determinants of ecological footprint in OCED countries: do environmental-related technologies reduce environmental degradation?

The world is in a clash between the perspectives of economic expansion and sustainable environment. The high pace of technological progress opens space for fostering economic growth but at the same time, it creates a big dilemma for humans in protecting the environmental quality. The environmentally specific technologies are expected to help human beings to achieve dual objectives of economic prosperity and environmental sustainability. Despite its importance, attention to the role of environmental-related technologies in reducing environmental degradation is limited. This paper, therefore, intends to discover the impact of environmental-related technologies on the ecological footprint for 20 OECD from 1990 to 2015. The results endorse a long-run relationship between ecological footprint and green technologies, renewable energy, international trade, energy intensity, and real income. Environmental-related technologies and renewable energy consumption are found to be impetuous to sustainable development. The study provides relevant implications for policymakers to support the development and adoption of green technologies.