Exploration the impact of green energy and consumption on the sustainability of natural resources empirical evidence from g7 countries

This article reports an empirical investigation on the impact of green energy exploration and con-sumption renewable energy production, renewable energy concon-sumption, and combustible

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Contents lists available atScienceDirect Renewable Energy journal homepage:www.elsevier.com/locate/renene

Exploring the impact of green energy and consumption on the sustainability

of natural resources: Empirical evidence from G7 countries

Ka Yin Chaua,b, Massoud Moslehpourc,d, Yu-Te Tuc, Nguyen Tan Taie,*, Nguyen Hoang Tienf,

Pham Quang Huyg

aSchool of Management, Guangdong University of Science & Technology, Dongguan, Guangdong, China

bFaculty of Business, Address: Room 418, 4th Floor, Luso Chineses Building, Avenida Padre Tomas Pereira, Taipa, Macau

cDepartment of Business Administration, Asia University, 500, Lioufeng Rd., Wufeng, Taichung, 41354, Taiwan

dDepartment of Management, California State University, San Bernardino, 5500 University Parkway, San Bernardino, CA, 92407, USA

eFaculty of Business Administration, Van Lang University, Vietnam - 69/68 Dang Thuy Tram Street, Ward 13, Binh Thanh District, Ho Chi Minh City, Viet Nam

fWSB University in Gdansk, Poland

gUniversity of Economics, Ho Chi Minh City (UEH), Viet Nam

A R T I C L E I N F O

Article history:

Received 7 March 2022

Received in revised form 18 June 2022

Accepted 15 July 2022

Keywords:

Green energy

Renewable energy production

Sustainability

Natural resources renewable energy

consump-tion

A B S T R A C T The sustainability of natural resources has become a global issue that requires the focus of recent literature and policymakers This article reports an empirical investigation on the impact of green energy exploration and con-sumption (renewable energy production, renewable energy concon-sumption, and combustible renewable waste) on the sustainability of natural resources (natural resources rent) across Group of Seven (G7) countries For this pur-pose, secondary data were extracted from the World Bank Indicators (WDI) between 2001 and 2019 and the Method of Moments Quantile Regression (MMQR) was used to test the relationships between the constructs The results showed that green energy exploration and consumption have a positive relationship with the sustainabil-ity of the natural resources of G7 countries This study offers both theoretical and practical significance particu-larly for relevant authorities to formulate and implement policies regarding the sustainability of natural re-sources.

© 20XX

1 Introduction

Natural resources like fossil fuels are the most common and harmless

assets that have provided humanity with extensive advantages and

ben-efits for a long time [1,2] Its benefits even extend to the Group of Seven

(G7) countries (i.e., United States, Germany, Italy, Japan, UK, France,

and Canada) as the important players in the international economy

Following their understanding on the importance of environmental

health and well-being, all these countries are striving hard to invest in

natural or green energy production commodities instead of fossil fuels

and enhance their output and efficient energy generation capacities

[3,4].Fig 1shows the natural resources rent and rapid shift of energy

generation practices in all G7 countries

* Corresponding author.

E-mail addresses:gavinchau@cityu.mo (K.Y Chau), writetodrm@gmail.com

(M Moslehpour), suntu@asia.edu.tw (Y.-T Tu), Tantai148@gmail.com

(N.T Tai), nhtien@hufi.edu.vn (N.H Tien), pquanghuy@ueh.edu.vn

(P.Q Huy).

Many G7 countries, especially Canada, France, and Japan, have been implementing small-scale power plants based on the principle of the hydrogenation of carbon dioxide with methanol synthesis for the generation of oxygenates; however the success rate is not so impressive

In this regard, effective and improvised process design is imperative to yield enhancement at the industrial level Nevertheless, the replace-ment of fossil fuels with eco-friendly hydrogen fuel products and biofu-els is not an easy task, hence why precision and accuracy is necessary to boost the production of these vital products Hydrogen-powered fuel has been proposed as a potential alternative because its by-products in internal combustion are water and 242 Kj/mol heat energy instead of harmful smog and carbon produced by fossil fuels [5,6] However, the main issue with such alternative is high production and storage costs Hydrogen is not freely available but is present in different chemical compounds, specifically in hydrocarbons Meanwhile, biological wastes like wheat bran and rice husk-like substances are easily available in na-ture [7,8]

Thus, the main concern is to disintegrate the energy-rich bonds of hydrocarbons and other biological molecules for it to release hydrogen and generate energy This can be achieved via several methods with https://doi.org/10.1016/j.renene.2022.07.085

0960-1481 /© 20XX

Note: Low-resolution images were used to create this PDF The original images will be used in the final composition.

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Fig 1 Natural resources rent and economy of G7 countries.

their respective advantages, disadvantages, and operational costs The

most common methods are as follows:

• Steam reforming method with methane as the starting material

• Hydrocarbon oxidation

• Biomass-based gasification processes

• Water breakdown with thermal, electric, or light-dependent

reactions

• Gasification and breakdown of coal to generate hydrogen

• Methanol and emitted carbon dioxide-based hydrogenation

Scientists and engineers are confident in finding the most

well-applicable, stable, and economic process by combining all or several

specific methods for the well-being of the environment and humanity

[9] While stream reforming through the utilization of methane as the

starting material has been regarded as a well-established and most

ac-ceptable method at an industrial scale and is used by industrial plants to

generate urea, the environmental pollutants like carbon monoxide and

carbon dioxide emitted during this reaction contribute significantly to

environmental pollution and low air quality index The main factor for

the low efficiency of this procedure is the industrial power plants’

heavy reliance on fossil fuels to conduct all these reactions Hence,

opti-mization on an industrial and commercial scale is needed for these

reac-tions to be opted as the new and innovative opreac-tions for the economic

well-being of the G7 countries (Dlalisa & Govender, 2020; [10]

Natural gas is one of the common methods for energy generation

and production as it generates methanol to satisfy the energy yields of

the products and anthropogenic activities The volumetric production

of methanol has increased by approximately 30% from 2006 to 2012

However, such production still needs improvement and new production

methods are being considered seriously by industrialists and

re-searchers In this regard, methanol conversion by direct hydrogenation

of carbon dioxide serves as an important alternative and this process

produces less heat and energy dissipation reactions While carbon

diox-ide (CO2) is hazardous to the environment, it is easy to produce, its

uti-lization can provide significant advantages, and methanol carbon

diox-ide stimulated hydrogenation can improve the energy yield and

reac-tion kinetics [11–13]

Japan is a major player in the race of renewable energy generation

and utilization practices The country has practically replaced the fossil

fuels energy generation processes with natural processes A power

eration plant is currently working in Osaka that has the capacity to

gen-erate 100 tons/year of power from the hydrogenation of methane

aug-mented by carbon dioxide Iceland is also striving hard to generate

power from renewable energy sources where a Carbon Recycling Plant

has been established with 4000 tons/year of energy generation processes [14,15]

Nevertheless, the fact remains that carbon dioxide emission has harmful consequences and that the CCS (Carbon Capture and Storage) method requires a major investment and has a potential problem of car-bon dioxide leakage Thus, the CCU (Carcar-bon Capture and Utilization) method is seen as the best alternative to CCS The global carbon dioxide emission was recorded at 31 Gt in 2011 and is estimated to rise approxi-mately 30% in 2050, subsequently resulting in deleterious conse-quences Currently, CO2 is only utilized in the chemical industry for the production of fertilizers and urea There is a pressing need to upscale its utilization for fuel production This is because many important oxy-genates and hydrogenated products can be produced with the help of CO2 [16–18] As these fuel products can increase internal combustion efficacy and engine performance, the utilization of carbon dioxide as fuel will provide an effective solution for the transport industry in terms

of fuel products and techno-smart alternatives Furthermore, the eco-nomic and population growth of the G7 economies require a rapid placement of fossil fuel sources with natural ones Nevertheless, the re-finement and utilization of carbon dioxide in reactors for hydrogen power generation is a cumbersome task that requires a lot of effort with expensive resources to optimize the energy generation processes Therefore, dedicated and sincere efforts are necessary to produce a plausible solution specifically for the energy requirements of G7 coun-tries [19,20]

The structure of the present study is comprised of several phases The first phase contains the introduction while the second phase deals with evidence reported by past studies regarding green energy con-sumption and natural resources Meanwhile, the third phase explains

on the methodology used to collect data regarding green energy con-sumption and natural resources followed by an analysis of its validity The fourth phase compares the results of this study with the findings re-ported by past research This paper ends with the research implications, conclusions, and future recommendations

2 Literature review

The world is replenishing renewable energy production for the ex-tension and upbringing of natural resources Different factors of renew-able energy are associated with natural resources rent that offers the sustainability and exploration of green energy in G7 countries Bayale, Ali, Tchagnao & Nakumuryango [21] assessed the components of re-newable energy production that reflect its importance towards the nat-ural resources rent It was found that the probabilities of higher poste-rior inclusion of renewable energy production advocate the access and increment in natural resources rent Both factors were assessed from

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various perspectives using the ordinary least square methods The study

extends the production of renewable energy for sustainability and the

uplifting of natural resources rent reliability and affordability

Mean-while, Karimi, Ekşioğlu & Khademi [22] investigated the impact and

re-lationship between renewable energy production and natural resources

rent among developed countries A variety of strategic and theoretical

models were applied to assert the relationship between these variables

Their findings reported that renewable energy production provides

var-ious benefits to the natural resources rent in schemes and potentials,

es-pecially for the economy These models significantly indicate the

im-portance and emergence of renewable energy production in promoting

sustainability and increasing the capacity of natural resources rent

Hossain [23] defined the improvement of natural resources rent by

the significant interpretation of renewable energy production and

im-proved technology For the production of renewable energy, the

tech-nology also suggested efficient increment and development of natural

resources rent The catalyst of renewable energy production and

nat-ural resources rent is asserted by the application of various data

acquisi-tion models Their results thus confirmed the significant relaacquisi-tionship

between the sustainability of natural resources rent with the positive

in-clusion of renewable energy production Meanwhile, Okada & Samreth

[24] examined the influence of natural resources rent and the

relation-ship between renewable energy production and various elements of the

developed countries Among the natural resource elements, oil rent was

found as a specified element that enumerates its impact levels

Regres-sion analysis was conducted by taking natural resources and renewable

energy The result showed that an increase in the production of

renew-able energy elements contributes a significant proportion towards the

sustainability of natural resources rent Similarly, a study by

Al-Marhubi [25] investigated the dominance of natural resources rent in

reducing the share of labor used to produce the energy elements in

or-der to explore its significance towards the natural resources rent

Vari-ous corresponding elements of renewable energy and natural resources

rent were implemented through a number of methods The results

indi-cate that there is a robust impact of renewable energy production with

controlled factors on the natural resource rents Renewable energy is

usually generated from natural resources and it accumulates the

contri-bution of natural resources rent The replenishing of renewable energy

through various forms increases the opportunities for natural resources

rent Whereas, Qi & Li [26] had looked on the threshold impacts of

re-newable energy consumption on natural resources rent as well as

differ-ent conditions of economic growth with energy transformation They

explored the increasing transformation and development of renewable

energy consumption from various perspectives of natural resources

rent Statistical analysis was done to enumerate the link between the

se-lected factors and the results indicate a positive consumption of

renew-able energy where significant saving on the expenditures of the

econ-omy also enhances natural resources rent Finally, Güney [27]

investi-gated the relationship between the sustainable development of natural

resources rent and renewable energy consumption while rating high

in-come countries Different factors of renewable energy consumption

were also taken into consideration to assert its impact over natural

re-sources rent These factors were positively interpreted using statistical

approaches for the sustainability and maintainability of natural

sources Their results indicate a positive and significant impact of

newable as well as non-renewable energy consumption on natural

re-sources rent

In addition, Pegkas [28]examined the impact as well as the

relation-ship between non-renewable and renewable energy consumption in

Greece Renewable energy consumption indicates long- and short-run

behaviors for the protection and expansion of natural resources rent

The stimulation of the elected factors by an appropriate strategic plan

and statistical approaches keeps the growth and sustainability of

nat-ural resources rent The results thus advocate the sequential, consistent,

and coherent renewable energy consumption enhancement that uplifts

natural resources rent Another study by Atienza [29] attempted to ex-plain the relationship between economic development, policy choices, and natural resources with the exploring element of the rent curse The curse of natural resource rent was derived from the geopolitical factors that enumerate the labor and regulatory importance of rent This was achieved using the elected factors with the assistance of corresponding elements as well as various statistical and theoretical techniques Their results revealed that significant consumption of renewable energy posi-tively enhances the importance and increment in natural resources rent Similar finding was also reported by Crespi, Katz & Olivari [30] who looked on the importance and intensity of growth, natural resource ac-tivities, and innovation among the emerging and developed economies

of various countries They hypothesized that the role of renewable en-ergy is more important due to consumption and its contribution to-wards natural resource rent The emergence of ecological and environ-mental forces in renewable energy strongly allows theoretical and strategic techniques over natural resource rent The result indicated a positive approach to renewable energy consumption that increases nat-ural resources rent

Most combustible renewables produce municipal, industrial, biogas, liquid biomass, and solid biomass wastes This measures the percentage

of the total energy that derives the increment in natural resources rent Ben Jebli & Ben Youssef [31] examined the relationship between eco-nomic growth, carbon emissions, agriculture, waste consumption, and combustible renewables in Brazil The dynamics of these relationship estimates the importance of combustible renewable wastes that help to increase natural resources rent For this purpose, the considered vari-ables were interrogated through causality tests on a long and short-run basis The result indicates that the innovation and policies among com-bustible renewable waste contribute credit towards the natural re-sources rent This is in line with Yang et al [32] who attempted to ex-plain the combustible gas production during the solid waste municipal catalytic pyrolysis in different natural resource-producing countries The probability and increment of incombustible gas production are nec-essary for the uplifting and sustainability of natural resources rent In this study, the influence of combustible renewable waste production was interpreted through the use of statistical and strategic approaches The findings indicate the manifested usage of combustible renewable waste for sustaining the economic grounds and strengthening the nat-ural resources rent

A study by Fan, Li, Yu, Yang & Huang [33] investigated the impacts

of various combustible sold waste components on the distribution of various extended natural resources Most of the natural resources rents are dependent on various renewable components of energy The neces-sity of combustible renewable waste was elaborated by the induction of different theoretical and statistical approaches Their results indicated that the biggest effect of combustible renewable waste emerges among the natural resources that upgrade the natural resources rent in various additives Meanwhile, Ahmad Abdi, Akouwerabou Babikigalaga & Lakew Yehualashet [34] assessed the relationship between natural re-source rents, endowment, and innovation propensity among a number

of firms in Africa It is believed that resource-rich countries have less in-centive towards innovation because of the destruction of large resource rents Data from various aspects were gathered over the elected compo-nents and a mixed effect modeling strategy was applied for analysis purposes The results showed that large combustible renewable waste is considerably important in increasing the dominance of natural re-sources rent Finally, Ramezani, Rahimi Boroujerdi, Nasiri Aghdam & Mehrara [35] investigated the trade-off between natural resources and human education for its contribution to innovation and renewable en-ergy Human resources are usually neglected at the end of resource-rich countries where the waste is probably not used for natural resources rent The controlled effects of factors among the relationship and the trade-off of combustible renewable waste were operationalized using the parameters of econometric methods and statistical techniques

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Furthermore, strong economic growth is believed to have the

capa-bility of raising the intensity of natural resources due to the stimulation

of international policies for natural resources rent Countries with huge

economic growth often look forward to developing countries investing

in renewable energy production In this regard, Chekouri, Chibi &

Ben-bouziane [36] investigated the curse of natural resources that involves

the economic growth and abundance of oil Economic growth and

nat-ural resources rent are interlinked with each other and interact with the

revenues of natural resource oil exports The co-integration of

econo-metric approaches and various statistical models applied on the

eco-nomic growth asserts the impulse, persistent profiles, bootstrapping,

and restrictions Strong results of economic growth specified its

impor-tance as an element for increasing the real output of natural resources

rent Whereas, Al-Moulani & Alexiou [37] had looked on the economic

growth and depth of various sectors along with the nexus among

nat-ural resources and world economies Strong economic growth can

es-tablish different beneficial keys for the positive and significant

develop-ment of natural resources rent The modevelop-mentum of economic growth

as-certains the implication towards natural resources rent The findings

in-dicate a lack of relationship across these factors and a slight change in

economic growth that deepens its impact on the natural resources rent

Saâdaoui & Jbir [38] conducted an investigation on economic

growth and petroleum endowment by examining the phenomenon of a

natural resource curse They found that the presence of high economic

growth not only strengthens the financial conditions but also improves

the natural resources rent by admiring investment channels While

evoking the relationship across the elected factors, the econometric

models were applied to explain the correlation between economic

growth and natural resources The study affirms a significant

relation-ship between natural resources rent and economic growth Meanwhile,

a study by Khan, Khan, Ali, Popp & Oláh [39] emphasized on the nexus

between financial, economic development, and natural resource rent in

the emerging economies of different developed countries They

hypoth-esized that the role of economic growth is compulsory for managing the

natural resource rents due to the involvement of energy needs

Regres-sion and correlation analyses were conducted to determine the

relation-ship across these factors and the results indicated a positive link

be-tween economic growth and the sustainability of natural resources rent

Finally, Shen et al [40] had looked on the relationship between natural

resources rent, financial development, and green investments in

limit-ing energy needs and wastage Their study examined various

determi-nants of natural resources that may have a strong and endorsing impact

on economic growth and the augmented autoregressive distributed lag

methods were used to determine the relationships between these

fac-tors The findings revealed a positive impact played by financial

devel-opment and economic growth on the maintainability of natural

re-sources rent

It has also been propounded that rapid growth in a population tends

to be a major threat to environmental degradation yet it is essential to

innovatively uplift the natural resources rent Sasaki [41] investigated

the relationship between sustainable economic development and

non-renewable resources with the affiliated link of population growth As

population plays an important role in economic development and in

strengthening and enhancing natural resources rent, population growth

was nominated as a strong factor to control the depletion of natural

sources as enumerated by various theoretical models The results

re-vealed that the improvement and sustainability of population growth

enhance natural resources rent Whereas, Brauner-Otto & Axinn [42]

examined the relationship between the size of families and natural

re-sources collection that also enumerates the population and

environ-ment The fertility of human involvement predicts the reduction of

nat-ural resources and population growth is considered a saver to them

Dif-ferent fixed-effect models were applied on the factors to determine its

changes and effects The study found that population growth, after

sig-nificant and positive fertility, poses a pointing impact on the change in

an environment of natural resources

Furthermore, Li, Shao, Shi, Sun & Zhang [43] interpreted the trans-formation of reducing carbon emission, natural resource dependence, and manufacturing with the extended assistance of population growth They hypothesized that the rationalization of population growth is evi-dent for the increment of natural resources rent Different panel thresh-old techniques were used and the results revealed that increased popu-lation growth contributes a significant proportion towards natural re-source rent Meanwhile, Joshua & Bekun [44] and Narváez et al [45] defined numerous paths to achieve environmental sustainability and various elements of natural resources rent by using the population growth and important factors The role of natural resources rent, pollu-tant emission, economic expansion, and coal consumption for achieving sustainability is dominant Conventional unit root test with structural breaks and various statistical tools were used to explore the sustainabil-ity of natural resources rent and the results indicated the equilibrium of population growth as an important and natural element that expands natural resource rent Finally, Raheem, Isah & Adedeji [46] argued that the increment in government expenditures and reduced emphasis on health and education pose a threat to natural resources rent They as-serted population as a dominating factor through which accuracy and knowledge are applied to highlight the importance of natural resources rent Financial and statistical models were applied to determine popula-tion growth and natural resource rent and the results revealed that posi-tive increment in population growth helps to achieve natural resource rent

3 Research methodology

This article investigates the impact of green energy and consump-tion exploraconsump-tion on the sustainability of natural resources in G7 coun-tries It used secondary data extracted from secondary sources like WDI The researchers had selected the data from 2001 to 2019 The REM and GMM were used to test the relationships between the variables The equation for the study is given below:

(1) Where;

NRR = Natural Resources Rent

i Country

t = Time Period

REP = Renewable Energy Production REC = Renewable Energy Consumption CRW = Combustible Renewable Waste

EG = Economic Growth

PG = Population Growth This study employed sustainability of natural resources as the pre-dictive variable and it was measured as natural resources rent (% of GDP) It also comprised five variables namely renewable electricity pro-duction (% of total electricity propro-duction), renewable energy consump-tion (% of total energy consumpconsump-tion), combustible renewables and waste (% of total energy), GDP growth (annual %), and population growth (annual %) These constructs and its measurements are shown

inTable 1 Descriptive statistics were used to determine the minimum values, maximum values, standard deviation, and mean values of the variables

In addition, descriptive statistics with respect to years and countries are also reported in this study Meanwhile, correlation matrix was also used

to determine the relationship between the constructs; however no sig-nificant result was found The researchers also conducted the variance

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Table 1

Measurements of variables.

S# Variables Measurements

01 Sustainability of Natural

Resources

Natural resources rent (% of GDP)

02 Renewable Energy

Production

Renewable electricity production (% of total electricity production)

03 Renewable Energy

Consumption

Renewable energy consumption (% of total energy consumption)

04 Combustible Renewables

and Waste

Combustible renewables and waste (% of total energy)

05 Economic Growth GDP growth (annual %)

06 Population Growth Population growth (annual %)

inflation factor (VIF) that exposed the multicollinearity assumption of

the regression The equations for VIF are given below:

(2) (3) (4) This study also applied the Method of Moments Quantile Regression

(MMQR) [47] as the estimation technique with a fixed-effects

ap-proach It has the “robust to outliers” feature and is incapable to

ac-count for overlooked heterogeneity across panel cross-sections By

per-mitting the individual effects, this technique permits the “conditional

heterogeneous covariance effects” for the factors of natural resources

rent to affect the whole distribution in contrast to panel quantile

regres-sion which only allows for shifting means It is also more suitable in a

condition where the framework has endogenous explanatory constructs

and the panel data is categorized with individual definite effects In

ad-dition, the MMQR produces dynamic evaluations in various conditions

even if the model is nonlinear and allows for location-based asymmetry

as the parameters may depend on the location of the predictive

con-struct Following these factors, the MMRQ is considered as the most

suitable estimation technique that includes both the asymmetric and

nonlinear associations by simultaneously dealing with endogeneity and

heterogeneity The conditional quantile estimations such as

for the locational-scale alternate model is shown as:

(5)

are the parameters that need to be estimated Moreover, in

represents individual fixed effect and z shows the

k-vector of component X The components are transformation with

ele-ment l as shown below:

(6)

In addition, is orthogonal to and is consistent to fulfill the

mo-ment conditions that do not involve stringent erogeneity Using

Equa-tion(5), the conditional quantile of Y is given as follows:

(7) Where shows the predictive constructs (e.g., REP, REC, CRW, EG,

and PG) while is the dependent construct (e.g., NRR) which is

condi-tional as In order to standardize the least-square fixed effect, the

separate effects could not demonstrate intercept shift Due to time

in-variants, their heterogeneous effects are allowed to change across the

quantiles of the predictive construct Y Then, is estimated as

fol-lows:

(8) This study also executed the Granger causality test to check whether there are bilateral, unilateral, or no relationships between the con-structs The Granger causality equations are given below:

(9) (10)

4 Research findings

Table 2shows the descriptive statistics results that comprise the minimum and maximum values, standard deviation, and mean values

of the variables A total of 133 (7 countries x 19 years) observations were used in this study where the mean value of NRR was 0.190 while the average value of REP was 22.249 The results further revealed that the mean value of REC was 10.561 while the average value of CRW was 3.088 Finally, the average value of EG was 1.408 and the mean value of PG was 0.477

This study also looked at the descriptive statistics results with re-spect to the observed countries (SeeTable 3) It was found that the min-imum NRR was recorded in Japan with 0.005% while the maxmin-imum NRR was in Canada with 0.697% Meanwhile, United States recorded the minimum REP value with 10.812% while Canada had the maximum RESP with 61.510% In terms of REC, the minimum value was recorded

by United Kingdom with 4.748% while the maximum REC was in Canada with 22.055% Moreover, CRW was minimum in Japan with 0.876% and it was maximum in Canada with 4.426% Minimum EG value was found in Italy with only 0.220% while the maximum EG value was recorded in Canada with 2.571% Finally, PG was minimum

in Japan with −0.024% and maximum in Canada with 1.069% Furthermore,Table 4presents the descriptive statistics results with respect to years It was found that the minimum NRR was 0.019% in

2017 while the maximum was 0.521% in 2019 Whereas, the minimum REP was recorded at 16.524% in 2003 while the maximum was 29.030% in 2019 The results further indicated that the minimum REC was 7.054% in 2001 while the maximum was 14.182% in 2019 In ad-dition, the minimum CRW was 1846% in 2001 and it recorded the max-imum value of 4.064% in 2019 It is followed by EG which recorded the minimum value of −4.160% in 2009 and the maximum value of

Table 2

Descriptive statistics.

Variable Obs Mean Std Dev Min Max

NRR 133 0.190 0.493 0.000 3.441 REP 133 22.249 18.106 2.497 63.499 REC 133 10.561 6.168 0.853 22.77 CRW 133 3.088 1.641 0.203 6.502

EG 133 1.408 1.885 −5.694 6.869

PG 133 0.477 0.482 −1.854 1.415

Table 3

Descriptive statistics (country).

NRR REP REC CRW EG PG

Canada 0.697 61.510 22.055 4.426 2.571 1.069 France 0.184 13.701 11.551 4.095 1.310 0.521 Germany 0.029 18.659 10.974 3.303 1.288 0.056 Italy 0.035 27.546 11.856 4.420 0.220 0.251 Japan 0.005 11.672 5.128 0.876 0.764 −0.024 United States 0.193 10.812 7.615 3.022 1.999 0.798 United Kingdom 0.190 11.846 4.748 1.473 1.706 0.666

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Table 4

Descriptive statistics (Year).

2001 0.428 16.720 7.054 1.846 1.591 0.522

2002 0.237 16.683 7.156 1.940 1.225 0.531

2003 0.327 16.524 7.465 2.125 1.684 0.521

2004 0.415 17.030 7.671 2.138 2.516 0.546

2005 0.424 16.804 7.981 2.335 2.354 0.536

2006 0.312 17.367 8.420 2.458 2.735 0.523

2007 0.243 17.569 8.989 2.719 2.783 0.544

2008 0.342 18.739 9.665 2.967 −0.054 0.556

2009 0.082 20.326 10.331 3.205 −4.160 0.497

2010 0.039 20.744 10.595 3.349 2.81 0.485

2011 0.046 22.153 10.695 3.114 1.832 0.158

2012 0.043 23.815 11.575 3.456 0.653 0.471

2013 0.037 26.165 12.311 3.656 1.076 0.603

2014 0.028 27.868 12.747 3.662 1.674 0.593

2015 0.020 28.691 13.027 3.811 1.577 0.471

2016 0.013 28.750 13.082 3.865 1.401 0.486

2017 0.019 28.839 13.596 3.937 2.204 0.409

2018 0.040 28.926 14.121 4.021 1.590 0.390

2019 0.521 29.030 14.182 4.064 1.264 0.217

2.783% in 2007 Finally, the minimum PG was 0.158% in 2011 while

the maximum was 0.556% in 2008

Moreover, results from the correlation matrix analysis revealed the

relationships between the constructs but it did not provide the

relation-ships’ significance The results indicated that REP, REC, CRW, EG, and

PG have a positive association with NRR Further details about the

re-sults are provided inTable 5 This study also used the VIF to determine

the multicollinearity assumption of the regression The results showed

that the values are lower than five, hence indicating the absence of

mul-ticollinearity

Meanwhile, the MMQR results inTable 6indicated that REC, REP,

CRW, PG, and EG have a significant and positive impact with NRR An

in-depth review of the results further indicates that REC, REP, and CRW

have a significant and positive link with NRR in all the quartiles (1–9)

However, the link between PG and NRR is significant and positive in

quartiles 2 to 4 and 6 to 9 while remains insignificant in quartiles 1 and

5 Finally, EG has a significant and positive link with NRR in quartiles 1,

3, 5, 7, 8, and 9 yet insignificant in quartiles 2, 4, and 6

Table 7contains results of the Granger causality that exposed the

unidirectional associations between REP and NRR, REC and NRR, and

Table 5

Matrix of correlations.

Variables NRR REP REC CRW EG PG

NRR 1.000

REP 0.316 1.000

REC 0.303 0.923 1.000

CRW 0.164 0.610 0.825 1.000

EG 0.256 0.158 0.129 0.003 1.000

PG 0.253 0.370 0.301 0.157 0.161 1.000

CRW and NRR In addition, the results also exposed the bidirectional relationships between EG and NRR while no relationship was found be-tween PG and NRR

5 Discussion

The results reported in this study suggest indicated that renewable energy production has a positive association with the sustainability of energy resources The finding is supported by Ulucak & Khan [48] who stated that the tendency to produce renewable energy like biomass, bio-gas, and biofuel in large amounts imposes a major emphasis on the pro-duction of food and non-food crops, plants, and forests within a coun-try The increase in agriculture and forests then enhances the natural re-sources rent and assists in the availability of natural rere-sources for future economic and domestic purposes The result is also in line with Baloch, Mahmood & Zhang [49] who reported that as renewable energy is pro-duced using natural resources like wood, weeds, food and non-food crops, and crop wastes, any encouragement on the production of renew-able energy will result in a significant increase in natural resources rent, subsequently leading towards the sustainability of energy resources Furthermore, the result is also aligned with the findings of Vidadili, Su-leymanov, Bulut & Mahmudlu [50] where the tendency to produce re-newable energy natural sources increases the natural resources rent, thus prompting the tendency for both business enterprises and individ-uals to produce natural resources in order to save costs and earn profits

on production Thus, natural resources are in abundance for future en-ergy resources production

Our results further showed that renewable energy consumption has

a positive association with the sustainability of energy resources This agrees with the findings by Bekun, Alola & Sarkodie [51] in which re-newable energy is attained from rere-newable, replenished, and sustain-able natural resources Thus, the consumption of renewsustain-able energy is never a burden on natural resources As natural resources like wind, water, air, crops, and forests can be replenished, the availability of nat-ural resources for future energy use can be assured The result is also in line with Elum & Momodu [52] who reported that increasing demands for the consumption of renewable energy resources within a country will also increase the market price of the energy resources as compared

to the actual costs of renewable energy production Thus, there will be a tendency to produce renewable energy sources, which will increase the number of available natural resources and promote the sustainability of energy resources Finally, our result is supported by Ikram [53] who found that the use of renewable sources for energy purposes by both in-dividuals and organizations in performing their daily duties will lead towards sustainability in energy resources This will benefit the consis-tent future performance of domestic and commercial functions as it en-hances the natural resources rent with a great demand for renewable energy resources

This study also found that combustible renewable wastes have a positive association with the sustainability of energy resources The re-sult is supported by Fontes & Freires [54] who reported that com-bustible renewables and wastes comprise biogas, solid biomass, liquid

Table 6

Panel quartile estimation (MMQR).

Variables Method of Moments Quantile Regression (MMQR)

Location Scale Grid of Quartiles

0.10 0.20 0.30 0.40 0.50 0.60 0.70 0.80 0.90

REC 0.392*** 0.443* 0.372** 0.211** 0.201* 0.299** 0.492* 0.423* 0.510* 0.511* 0.430* REP 0.432** 0.220* 0.499* 0.343* 0.322* 0.532* 0.982** 0.220** 0.442** 0.534* 0.332** CRW 0.399** 0.542** 0.633* 0.229* 0.402* 0.400* 0.342* 0.542* 0.302* 0.322** 0.421*

PG 0.622* 0.432* 0.281 0.391* 0.511** 0.201* 0.453 0.219* 0.222* 0.653 0.530**

EG 0.530* 0.822** 0.182* 0.311 0.543* 0.299 0.333* 0.411 0.332* 0.691* 0.621*

***, **, and * represent significant level at 1%, 5%, and 10%, respectively.

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Table 7

Granger causality test.

Null Hypothesis F-Statistic Prob Decision

REP does not Granger Cause NRR 3.04058 0.0172 Unidirectional

NRR does not Granger Cause REP 0.60206 0.6860

REC does not Granger Cause NRR 3.01466 0.0299 Unidirectional

NRR does not Granger Cause REC 0.12800 0.5057

CRW does not Granger Cause NRR 4.18391 0.0103

NRR does not Granger Cause CRW 0.04492 0.4616 Unidirectional

EG does not Granger Cause NRR 5.55981 0.0124

NRR does not Granger Cause EG 4.08623 0.0154 Bidirectional

PG does not Granger Cause NRR 1.3521 0.4247

NRR does not Granger Cause PG 1.5251 0.2231 No

biomass, and energy wastes that can be reused, recycled, or disposed

The recycling of renewable wastes hence promotes the protection or

preservation of natural energy resources, which will be beneficial in the

future The result is also in line with the findings by Yuan, Yu & Shen

[55] where many business organizations have the policies to use

com-bustible renewables and wastes as most business technology and

busi-ness processes like the production and transportation of raw materials

require a small number of energy sources to operate Renewable

en-ergy, which is saved after being recycled, is used in future domestic and

commercial activities Moreover, the result is supported by da Costa et

al [56] who reported that as an alternative to fossil fuels, the

utiliza-tion of combustible renewables and wastes by organizautiliza-tions for energy

purposes within a country will result in high natural resources rent

Thus, it is common for these organizations to produce natural resources

which will provide energy not only for present use but also for future

consumption

The results of this study also suggest that economic growth has a

positive relationship with the sustainability of natural resources This is

supported by Sharma, Sarmah & Dubey [57] who analyzed the impact

of economic growth on the sustainability of natural resources and found

that countries having high economic growth can develop significant

sustainability in natural resources in order to fulfill the present

domes-tic and commercial needs without compromising on future needs The

result is also in line with the past study of Boumanchar et al [58] which

reported that high economic growth enables the countrymen to

en-hance the production level across all sectors In this regard, increased

productivity at an industrial level, especially among enterprises that are

based on natural energy resources or natural source material, shall

en-hance the natural resource rent and force the government, mining

firms, and agriculture firms to continue producing a large number of

natural resources and preserve the natural resources for future use Our

result is also supported by Balsalobre-Lorente, Shahbaz, Roubaud &

Farhani [59] who found that the consistent rise in economic growth

re-duces the costs of natural resources than their per-unit prices in the

market with the application of good quality technology, processes, and

resources for the production of natural resources Such increased

pro-ductivity also enables a country to save its natural resources to be used

by future generations

This study also found that population growth has a positive

relation-ship with the sustainability of natural resources The result is in line

with the findings of Hassan, Xia, Khan & Shah [60] where population

growth affects the natural resources rent and natural resources

sustain-ability in two ways First, the increase in population enhances the

de-mand for natural resources for immediate use and natural

resource-based products at the household and industrial levels The increased

de-mand then enhances the natural resource production within the

coun-try and provides the opportunity to develop sustainability in the natural

resources reserves Secondly, the increase in the population also

creases the employment rate, subsequently promoting a significant in-crease in the demand for natural resources for industrial productivity while providing labor for various sectors like agriculture, mining, fish-ing, and forestry This enhances and assures sustainability in the natural resources rent Our result is also aligned with dos Santos Gaspar, Mar-ques & Fuinhas [61] who posit that in a country with a large population will thus lead towards a significant increment in the requirement of nat-ural resources for energy purposes, food items, and natnat-ural resource-based industrial products This subsequently raises the price level for natural resources, thus diverting the people towards the production of natural resources that will improve the sustainability of natural re-sources The result is also similar with Aung, Saboori & Rasoulinezhad [62] who examined the influence of population growth on natural re-sources rent and natural rere-sources sustainability Their findings imply that the increase in population growth enhances the demand for energy

at the domestic, economic, and commercial levels, thus enhancing the market prices for energy sources Consequently, natural resources rent encourages the production of renewable energy resources and enhances sustainability in natural resources The result is in line with the previ-ous study of Sridhar et al [63] that focused on the effective manage-ment of increased population growth to enhance the natural resources rent and sustainability in natural resources

The findings of this study carry both theoretical and empirical impli-cations First, it offers a theoretical significance to the literature by ana-lyzing the influence of green energy and consumption factors (i.e., re-newable energy production, rere-newable energy consumption, com-bustible renewable waste, economic growth, and population growth)

on natural resources sustainability This study is among the first to ex-amine natural resources rent as a measurement of sustainability in nat-ural resources while analyzing the impact of renewable energy produc-tion, renewable energy consumpproduc-tion, combustible renewable waste, economic growth, and population growth on natural resources sustain-ability Furthermore, many past studies have discussed the primary role

of combustible renewable waste as an indicator of sustainability in nat-ural resources in isolation For instance, Jebli & Belloumi [64] explored the influence of combustible renewables and wastes on the sustainabil-ity of natural resources, yet no attention was given to the dimensions of green energy and combustion pattern for determining natural resources sustainability Thus, our study serves as an extension of the existing lit-erature by looking at the different dimensions of green energy and con-sumption pattern in relation to renewable energy production, renew-able energy consumption, combustible renewrenew-able waste, economic growth, and population growth for exploring natural resources sustain-ability This study also offers significant empirical influence in fast-emerging economies like the G7 countries In today's industrial and technological world, many human and economic activities have a nega-tive impact on the environment, natural resources, and sustainable eco-nomic development This study thus serves as a guideline for econo-mists, organizational management, and environmental regulators in making policies to enhance and preserve natural resources for future use so that economic sustainability can be developed Future research can also use this study as a reference to further investigate this topic, particularly following its advocating results that sustainability can be developed in natural resources availability with green energy and sumption like renewable energy production, renewable energy con-sumption, combustible renewable waste, economic growth, and popu-lation growth

6 Conclusion and limitations

The aim of this study was to investigate the influence of green en-ergy and consumption dimensions (i.e., renewable enen-ergy consump-tion, renewable energy producconsump-tion, and combustible renewable wastes)

on natural resources sustainability as well as the role played by eco-nomic growth and population growth in developing natural resources

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sustainability This was achieved through a survey involving G7

coun-tries to analyze the influence of renewable energy production,

renew-able energy consumption, combustible renewrenew-able waste, economic

growth, and population growth on the sustainability of natural

re-sources

Our empirical results indicated that all five constructs have a

posi-tive influence on natural resources sustainability As renewable energy

is commonly produced using natural resources such as wood, weeds,

food and non-food crops, and crop wastes, promoting renewable energy

production will raise the natural resources rent, subsequently making

energy resources more sustainable The results also showed that

renew-able energy consumption enhances the demand for natural resources

and increases natural resources rent, thus making sustainability in

nat-ural resources possible It was also revealed that natnat-ural resources rent

is high in countries where organizations employ combustible

renew-ables and wastes for energy instead of fossil fuels This is usually

prompted by the need to create natural resources that offer energy not

just for current use but also for future usage Furthermore, it was found

that countries with significant economic growth can improve natural

resource sustainability so that current household and commercial needs

can be met without jeopardizing future needs The demand for natural

resources for food, energy, and natural resource-based industrial

prod-ucts can also rise in countries with a large population This thus boosts

natural resource prices and causes individuals to shift their attention to

natural resource production, thus improving natural resource

sustain-ability

Despite its significance, this study has certain limitations that

should be addressed by future research First, this study only analyzed

natural resources sustainability from the context of green energy and

consumption factors like renewable energy production, renewable

en-ergy consumption, combustible renewable waste, economic growth,

and population growth Future research can include other factors like

green finances, agriculture, and forestry to further expand their scope

of investigation Second, this study had analyzed the economies of

se-lected G7 countries and acquired data about the nexus between green

energy and the consumption and sustainability in natural resources for

the period of 2001–2019 Such limitation in countries and confined

time period may have had an impact on the validity and reliability of

the data and findings This can be addressed by future studies by

repli-cating the study in multiple countries and time periods

CRediT authorship contribution statement

Ka Yin Chau : Writing – original draft Massoud Moslehpour :

Writing – review & editing Yu-Te Tu : Methodology Nguyen Tan

Tai : Supervision, Writing – review & editing Nguyen Hoang Tien :

Writing – review & editing, Software Pham Quang Huy :

Valida-tion, Conceptualization

Declaration of competing interest

The authors declare that they have no known conflict of interests or

personal relationships that could have appeared to influence the work

reported in this paper

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