We scrutinize the environmental policies' efficacy in reducing ecological footprint by interweaving two other vibrant parameters of environmental degradation mitigation, i.e., renewable energy sources and innovation. To this end, we apply a Cross-Sectional Autoregressive Distributed Lags (CS-ARDL) approach to analyze panel time-series data (1990–2018) in the context of OECD countries. Our analysis shows that environmental policy significantly reduces ecological footprint through renewable energy and innovation channels. Our findings also support the idea that environmental policy's effectiveness is conditional on countries' bio-capacity surplus/deficit and the level of industrialization. The overall findings hold up well in the presence of cross-sectional dependence, short-run heterogeneity, and long-run homogeneity under the respective sample. Our findings underscore the need for more stringent environmental policies, supported by technological advancements and clean energy initiatives, to mitigate the impact of human economic activities on natural resources.

中文翻译：

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环境政策严格性与生态足迹联系：可再生能源和创新的缓解措施


我们通过将减缓环境退化的另外两个充满活力的参数（即可再生能源和创新）交织在一起来审查环境政策在减少生态足迹方面的功效。为此，我们应用横截面自回归分布式滞后（CS-ARDL）方法来分析经合组织国家背景下的面板时间序列数据（1990-2018）。我们的分析表明，环境政策通过可再生能源和创新渠道显着减少了生态足迹。我们的研究结果还支持这样的观点，即环境政策的有效性取决于各国生物能力的盈余/赤字和工业化水平。在各个样本存在横截面依赖性、短期异质性和长期同质性的情况下，总体研究结果仍然成立。我们的研究结果强调需要在技术进步和清洁能源举措的支持下制定更严格的环境政策，以减轻人类经济活动对自然资源的影响。