The authors
[32] used the Fuzzy DEMATEL model for the assessment of CO
2 emission and for outlining the significance of global economy decarbonization for seven emerging countries. They concluded that carbon emissions are a distressing global environmental problem and result from accelerating fossil fuel use. At the same time, renewable energy implementation can be an important method for the decarbonization of energy sectors and economies. At the same time, the scholars
[33] justified the implementation of recent fiscal instruments, such as green bonds, for supporting investment processes in renewable energy development. The calculations for China’s economy significantly facilitate green investment and reduce CO
2 pollution. They also accented the necessity of renewable expansion for China’s economy and the global economic sector for stimulating SDG 2030 implementation. Barbar et al.
[34] underscored that the success of decarbonization efforts depends directly on alternative technology development. Based on the scenario approach, they assessed electric vehicles and a power systems implementation. Adebayo et al.
[35] empirically justified the interconnection between CO
2 emissions and implementing fiscal tools for investing in sustainable energy technologies. They noticed that green investments could reduce CO
2 emissions while the acceleration of economic development intensifies it. In the frame of implementation of SDG 2030, the scholars in
[36] provided a systematic analysis of the nexus between clean energy spreading, environmental sustainability actions, and ecological quality. The study realized that the E-7 economies point to the interdependence of financial and renewables development and environmental pollution. Tang et al.
[37] showed that an effective regulatory system and well-developed state institutions reduce the negative environmental impacts. Using the CS-ARDL approach, they described the moderate economic development in Asia with regard to carbon dioxide reduction. Rogala et al.
[38] chose Polish biogas potential as a system that can stabilize alternative energy. They also emphasized its core significance in decreasing CO
2 emissions. The results of calculations for Malaysia proved that promoting renewable energy initiatives can reduce absolute carbon emissions by 20 per cent. The authors emphasized the necessity to implement several state incentives for the green energy sector, particularly the decarbonization of electricity production. Scientists in
[39] studied the impact of renewable energy production on developing the circular economy for 193 countries. Using panel data with various effects, they proved that alternative electricity production provides so-called adjusted savings in the form of reduced forest depletion. At the same time, the study
[40] examined the interconnection between 25 EU Member States’ economic growth, carbon emissions, total energy consumption, and investments indicators. They proved such interdependences’ causality and outlined the positive correlation between GDP growth, pollution, and energy consumption increase. The authors
[41] examined the United States’ second-largest CO
2-emitting economy as it plans to reduce its environmental challenges and contribute to achieving the Sustainable Development Goals 2030. They explored the transition to renewable energy and environmental innovations that will accelerate the decarbonization of the US economy. Using the ARDL approach, the authors illustrated the co-integration of the investigated variables in the long-term and short-term perspective and also emphasized that the transition to renewable energy reduces carbon emissions. Zhang
[42] investigated the interconnection between energy transition processes and implementing environmental innovations with environmental sustainability. The article examined the ten most populous Asian countries in the context of the impact of renewable energy production and consumption, the development of ecological innovations, and the development of scientific research on the scale of CO
2 pollution. The results showed that industrialization processes significantly increase CO
2 emissions. Interesting is the study of the authors in
[43], who the development of the stock market as a driver of the promotion of renewable energy on CO
2 emissions. Empirical findings indicate that foreign direct investment is an essential financial instrument stimulating energy conservation. The authors
[44] examined the asymmetric and long-term effects of the UK energy sector’s impact on environmental degradation. Using the nonlinear autoregressive distribution model, they evaluated energy efficiency change scenarios. The study results indicated that the increase in productivity in the energy sector and introducing renewable energy sources contributed to reducing carbon emissions, but there is a gap in the scientific approaches to investigate the interconnection between the development of renewable energy production in countries and the level of carbon emissions.