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Newly developed green technology innovations in business: paving the way

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Article in Technological Sustainability · May 2023

DOI: 10.1108/TECHS-02-2023-0008

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 The current issue and full text archive of this journal is available on Emerald Insight at:
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Newly developed green technology Green

technology
innovations in business: paving innovations in
business
the way toward sustainability
Md. Touhidul Islam 295
NPI University of Bangladesh, Manikganj, Bangladesh
Received 7 February 2023
Revised 1 April 2023
Abstract Accepted 2 April 2023
Purpose – This study’s goal is to research and describe developing green technology and green business
models, as well as their commercial advantages. However, it focuses on how old business breakthroughs and
models may be transformed into new green technologies and innovations that can affect the global business
environment. This research concentrates on the technology component of green technologies and provides
information on a variety of relevant emerging green business models and innovations such as energy
efficiency, renewable energy consumption, commodities and systems, environmental protection, nontoxic
materials, and waste minimization, among others. Additionally, this research connects Emerging Green
Technology (EGT) innovations to the business for sustainability. It also emphasizes the advantages of green
technology adoption in business specially in developing economies.
Design/methodology/approach – For that purpose, a Systematic Literature Review (SLR) was performed
based on the “inclusion/exclusion criteria” and “PRISMA flow diagram method”. The first screening and
quality evaluation rejected 67 publications, 8 in eligibility and 10 in credibility. In the subsequent round, 45
papers out of 210 that met the search parameters were included to access the findings.
Findings – This study provides a foundation for future research into sustainable economic potential by
examining the development, breakthroughs, obstacles, future trends and new research prospects of EGTs. As
such, this research will serve as a helpful resource for economically growing nations looking to foster long-term
growth in their businesses through sustainable development strategies.
Research limitations/implications – The first limitation of the study is the generalization of the findings.
The sample size of the study is limited. For that purpose, an SLR and “PRISMA flow diagram” methods were
performed by “inclusion/exclusion criteria” for literature review. Except these, there are many new techniques
of SLR. Further research with more sampling and sophisticated tests could produce better results for
this study.
Practical implications – This research provides valuable insights for businesses and politicians seeking to
protect the environment, promote economic growth and create a sustainable society. The findings will be
particularly useful for emerging nations grappling with issues related to technical innovation, safe
environmental practices, reliable renewable energy sources, and ecological and economic growth.
Originality/value – This study’s findings will aid in the design and implementation of new green technology
and innovations in current businesses, which will assist in limiting climate change and eventually affect their
move to sustainable growth paradigms. For emerging nations, this study will be useful in addressing issues
about technical innovation, safe environmental conditions, reliable renewable energy sources as well as
ecological and economic growth. According to our research results, the authorities of developing nations would
gain from utilizing green business models and technology to spur economic development. Our findings should
thus add to the current body of knowledge.
Keywords Green technology, Emerging green technology, Business innovation, Low-carbon energy, Solar
energy, Recycling and waste management, Sustainability
Paper type Research paper

JEL Classification — O31, Q01, Q33, Q55

Funding statement: This study received no particular support from governmental, commercial or
not-for-profit funding organizations.
Author declaration: The author certifies that this contribution is completely my own work, written in Technological Sustainability
Vol. 2 No. 3, 2023
my own words, that all sources utilized in its study are correctly credited, and that all quotes are pp. 295-319
appropriately recognized. © Emerald Publishing Limited
2754-1312
Data availability statement: On request, data will be made accessible. DOI 10.1108/TECHS-02-2023-0008
TECHS 1. Introduction
2,3 Innovation is critical to achieving a cleaner global environment. This encompasses not just
technological advancements but also advancements in economic and social institutions, as
well as in lifestyles. Because innovation is the primary driver of modern economic growth, the
green transition not only supports long-term economic growth but also creates a plethora of
economic prospects for firms.
At its core, innovation is a new way of doing things. In business, new ways of doing things are
296 introduced to make the company more money. Beyond that, corporate innovation is a broad
notion that encompasses several products, services, initiatives and regulations. It might be new
items to better serve customers or a new program to assist staff to communicate about initiatives.
Green transformation relies on new developments in technology and economics as well as
in social behavior and business models. These include the production, distribution and
storage of energy; agriculture and forestry; the extraction of natural resources; structures;
transportation; water supply and treatment; waste management; and the restoration of
environmental damage. Artificial intelligence (AI), the Internet of Things (IoT) and
blockchain technologies can help speed up this process. Since the mid-2000s, the pace of
technology innovation for the green transition has significantly accelerated (OECD, 2019).
The green transition affects a wide range of industries. Consequently, it is impossible to
estimate the business potential of the change. But new estimates show that the green
economy is rapidly expanding and might account for 10% of global market capitalization by
2030, which would be comparable to the health care or finance industries in terms of market
size. Another advantage of moving to a green economy is the increased health and
productivity that comes from cleaner air and water, thanks to the high knowledge spillovers
that come from green innovation (OECD, 2019).
Even though the shift to a greener economy presents a clear commercial opportunity, it
will also necessitate reorganization of both the economy as a whole and within sectors. There
is a substantial correlation between G20 nations’ comparative advantages and their
leadership in green innovation, indicating that countries can preserve their competitive
positions in the green economy (OECD, 2019).
This study presents an up-to-date assessment of the existing body of literature on the
topic of new green ideas, technologies and business models, as well as the identification of the
most active researchers, institutions and significant publications in this field. Specifically,
the study encourages debate regarding the appropriateness of research in this topic area
(newly developed green technologies in business) and the scarcity of complete literature
assessments in this field. In the current business environment, the findings of this study will
aid in the design, implementation and evaluation of Emerging Green Technologies (EGTs)
and innovations that will contribute to the control of global climate change and will have a
long-term impact on the shift of the company toward a sustainable growth paradigm.
This Systematic Literature Review (SLR) identifies green technology developments in
business studies and their output. This article will make it easier for anyone who wants to
contribute to this issue to access relevant literature. This article gives information on
business sustainability and indicates research needs. This review’s immediate outcome is
crucial in deciding freshly produced eco-innovation, IT, renewable energy and automation
technology for implementing green technology innovations in business for sustainability.
This article reports the SLR study’s findings and is organized as follows: Section 3 discusses
SLR’s five steps (methodology).

2. Objective of this study

The salient objective of this study is to find out the latest green technologies that are used in
the present business for sustainability in developing economies. The other sub-objectives are
as follows:
 (1) This study identifies the most active researchers, institutions and publications on the Green
subject of developing green ideas, technologies and business models. technology
(2) The study intends to spark debate on the lack of extensive literature reviews and the innovations in
lack of research in this field (newly developed green business ideas). business
(3) Identify the EGTs, innovations, business models and their benefits that will assist in
limiting climate change and eventually affect their move to sustainable growth
paradigms. 297

3. Methodology
To provide an overview of current research, we first conducted an SLR of scientific journal
articles, chapters and books, as well as online databases and the Web of Science. We then
examined the most active scholars, journals and relevant publications that have contributed
the most to the research on green technologies and sustainability in contemporary business,
to determine the major findings and future research directions.

3.1 Selection of paper and online resources

To address the above research objectives, it has been conducted a literature survey with three
levels of analysis. To begin with, it looked at the online database Web of Science, Google
Scholar, SCOPUS, crossref, business blogs and Thomson ISI Web of Knowledge.
3.1.1 1st level – (general category of publications by types). First, a systematic literature
search was undertaken using the following research topics and Boolean operators (AND and
OR): sustainability, green technology and green innovation. Journal papers, Web of Science
and book chapters from numerous areas are of interest.
In April 2022, data was collected from an Internet database and a search engine. First, we
searched “Article Title, Abstract, Keywords” for “sustainability” and “business innovation”
and found 5,025 papers. Then, it searched for “green technology” among these results. Then,
the dataset had 1,025 papers tagged as “general”. The removal of periodicals, journals,
conference proceedings, books and other sorts of publications has been shown in Table 1.
3.1.2 2nd level – (segmentation of business management (BM) and business technology (BT)
category of publications by types). The second level of examination focuses on “Business
Management” and “Business Technology” (marked as BM and BT, respectively). Two
hundred and ten documents were identified among 1,025 papers (Table 2).
3.1.3 3rd level – (most active journals). The first search results found 96 papers from 210
records. Based on Levy and Ellis’s (Levy and Ellis, 2006) advice, it did an extra search for
relevant studies by authors (7 more papers) and references (22 additional papers). After that,

Type of documents Percentage (%) Numbers

Article 72 738
Conference paper 4 41
Book Chapter 4 41
Review 8 82
Note 0 0
Article in press 0 0 Table 1.
Reports 12 123 Segmentation of
Source(s): Based on own research general category of
Author’s own creation publications by types
TECHS Type of documents Percentage (%) Numbers
2,3
Article 50 105
Conference paper 0 0
Book Chapter 0 0
Review 10 21
Note 0 0
298 Article in press 0 0
Business article 10 21
Short survey 0 0
Table 2. Business report 20 42
Segmentation of BM Conference review 10 21
and BT category of Source(s): Based on BM and BT segmentation
publications by types Author’s own creation

another 25 publications have been added as indicated by other sources (e.g. crossref,
Mendeley, ResearchGate and other publishers), totaling 34 relevant papers. Following the
PRISMA declaration (Moher et al., 2009) and the criteria of Kitchenham and Charters
(Kitchenham and Charters, 2007), we conducted an initial screening and quality evaluation of
the publications and removed 67 in screening, 8 in eligibility and 10 in the credibility stage.
Figure 1 depicts the number of publications acquired through the search, evaluated and
included in our content analysis according to the PRISMA flow diagram.

3.2 Inclusion and exclusion process

Each recovered document will initially undergo a reading process on its 1) title, 2) abstract
and keywords and 3) entire text. The five steps of the document selection process are detailed
in Table 3.

3.3 Quality assessment criteria

A form was created to speed up the data extraction process and analyze the quality of
primary studies. Design, conduct, analysis and conclusion make up the checklist adapted
from Kitchenham and Charters (2007). Each checklist item has a ratio scale to quantify
quantitative and qualitative investigations. Yes 5 1 point; No 5 0 point; Partially 5 0.5 point.
Each study’s overall score runs from 0 (extremely bad) to 7 (very excellent) (Salleh et al., 2010).
Criteria 1 to 3 are used to remove studies that do not fit the SLR’s purpose. Criteria 4 and 8
discuss technique, data collecting and discovering tools. Criteria 9 and 10 pertain to paper
credibility, ensuring each study is legitimate and useful. Among the 210 items, only 45 were
chosen for the final selection. Figure 2 depicts the framework for doing SLR and selecting
relevant papers.

4. Review of literature
Innovation is the development and dissemination of novel ideas, products, processes and
methodologies that are critical to achieving a cleaner global environment. Not just
technological innovation is included in this definition but also innovation in economic and
social institutions as well as changes in lifestyles (Tundo et al., 2000; Van Halen et al., 2005;
Carrillo-Hermosilla et al., 2009). The mix of technologies employed in production and
consumption across different sectors must be fundamentally altered, and technical
breakthroughs may be required in some industries (Chen and Popovich, 2003; Parsons,
1983). As a result, there will need to be changes in institutions and organizations as well as
 All Articles Retrieved
Green
from n = 1025 technology
innovations in
Remove Duplications
n = 67
business

Unique
ue
u e Articles
A 299
n = 210

Apply Exclusion Criteria

Records Excluded (n = 67)
Not Valid and Meaningful (n = 10)
Full text papers excluded with
causes = 08

Qualified
ed Articles
Ar n = 45
Figure 1.
Qualified Sources n = 05
Selection of papers in
the PRISMA flow
diagram
Source(s): Authors own creation

Steps Tracing

Step-1 Determine possibly pertinent sources (using Internet databases or a manual search) (n 5 210)
Step-2 Selection: screened studies by title (n 5 130)
Step-3 Selection: screened studies by abstract (n 5 63)
Step-4 Selection: Full-text papers assessed (n 5 55)
Step-5 Included studies in the synthesis (n 5 45)
Note(s): A systematic literature review (SLR) was performed based on the “inclusion/exclusion criteria”. The
purpose of the selection criteria for the SLR is to ensure that only relevant items are included. In the subsequent
round, 45 papers were included since they fulfilled all of the requirements Table 3.
Source(s): Author’s own creation Steps of inclusion

changes in production and consumption patterns. New services and business models will also
be needed. The creation and spread of innovative technical, economic, social, behavioral and
business model innovations across many, if not all, areas of the economy is critical to the
green transition.
Technologies that support a low-carbon energy transition include renewables, efficiency
and storage (for purposes of carbon capture, storage and usage). In both power production
and transportation, renewable energy is required (e.g. solar PVs and hydrogen). Since 2000,
renewable energy output has grown twice as fast as consumption. A green transition requires
improved energy storage technology. It is required for electro-mobility and reduces peak load
demand while increasing the flexibility of renewable energy sources. Electrification of end-
use sectors will supply new storage (EV batteries). Energy storage systems are either
inefficient but long term (e.g. pumped hydropower) or efficient but only short term
(e.g. flywheels). New satellite technology can offer near-real-time updates on deforestation
and detect illicit logging even in smaller regions (Finer et al., 2018). Electric automobiles are
established goods, but they present two interrelated issues. First, although Li-ion batteries
are well known, newer technologies like ultra-super capacitors and hydrogen fuel cells need
TECHS
2,3

300

Figure 2.
Funnel chart of
publication collection
methods

additional development. In 2015, just 4% of transportation (including marine and aviation)

used renewable energy, yet demand is growing quickly (IRENA, 2018). Sensors and
sophisticated decision and identification software have improved the accuracy and
productivity of automated trash sorting, as well as the number and quality of recovered
material fractions. As a result, a recycled polymer is rapidly replacing virgin polymer in
supply chains (Hopewell et al., 2009; Schneiderman and Hillmyer, 2017). Several studies
demonstrated that several waste-to-energy systems might supply affordable power for
developing nations (Scarlat et al., 2015).
In order to satisfy the synergy of technology and structure, the development of new green
technology innovations is crucial for lowering carbon emissions and speeding up the
upgrading of industrial structures. Another article shows that green technology innovation
considerably inhibits carbon emissions through industrial structure upgrading. Green
technology innovation’s influence on carbon emissions in the context of industrial structure
upgrading is examined in this article using fixed-effect and mediating-effect models. Green
technology innovation reduces carbon emissions as it increases. Green technology innovation
also indirectly reduces carbon emissions by upgrading industrial structures, accelerates the
transformation of economic, energy and industrial structures, and promotes low-carbon
development and sustainable global economic growth (Gao et al., 2022).
Green technology is the creation and usage of goods, equipment and systems that reduce
the negative effect of human activities on the environment (Hamid, 2010; Saffuan et al., 2012).
Developed nations like Japan and Korea have proved that green technology can provide clean
energy, which is the only way to achieve sustainable growth (Jainudin et al., 2017).
Academically, the study highlights the researchers who have made the most significant
contributions to research on green technology and innovations in business. This study is
intended for policymakers and contains information on current green technologies and the
influence of upcoming green technologies and innovation in business. The article is both
scholarly and policy-relevant. As a result, this paper will serve as a valuable guide for
organizations looking to incorporate greener technology into their current business-age
applications for sustainability.
 Emissions of greenhouse gases from developing countries are on the rise. Addressing the Green
pressing needs of climate change will be extremely challenging without green growth and technology
innovation. Kyle S. Herman has provided insightful analysis on topics including green
growth, innovation and the extraordinary expansion of renewable energy technology in low-
innovations in
and middle-income countries. Green growth is highlighted as a strategy for boosting business
economies in both the Global North and South. The paper suggests that there needs to be
significantly more study of developing economies, particularly in light of the worrying
increase in emissions of greenhouse gases in these nations (Herman, 2021). 301
By transforming conventional economies into green ones, technological progress can
help mitigate the current environmental catastrophe and sustainably advance society.
A rise in greenhouse gases and other dangerous air pollutants has resulted from Pakistan’s
rising economy’s reliance on traditional technologies and energy sources to fulfill
demographic and economic needs. In light of the strong correlation between technical
innovation and green growth shown in the study, the authors propose a policy change that
would help Pakistan meet its environmental concerns through the promotion of green
growth (Abid et al., 2022). In their research paper, Liang Li and his colleagues say that green
innovation has three parts: new green products, recycling and getting the word out about
being green. There were three facets to business sustainability as well: economic, ecological
and social. This demonstrates the importance of green innovation in ensuring the long-term
viability of companies operating in energy-intensive sectors. The authors take the vantage
point of business managers in China’s most energy-intensive industries to examine the
impact of green innovation on long-term company viability (Li et al., 2020). Although green
technology business models have garnered attention over the past decade and are being
used in business in developed countries, interdisciplinary study on this emerging
phenomenon is still needed to maintain business in developing and underprivileged
countries.
Trapp, C. T. and Kanbach, D. K. propose a unique typology of green technology business
models based on sustainable business model archetypes and technical entrepreneurship
activities. The greentech business models analyzed include Energy Efficinnovator,
Efficiency Energizer, Energy Efficreator, Material Efficinnovator, Efficiency Material
enhancer, Material Efficreator, Recyclinnovator, Recyclenhancer and Green Technolooper
(Trapp and Kanbach, 2021).

4.1 This study deals with

After analyzing the previous study (as shown in Table 4), it becomes apparent that empirical
evidence for developing countries regarding electric vehicles, IoT implementation and energy
infrastructure is limited. This lack of focus on specific countries highlights the need for
further exploration into recent trends in green technology development for businesses in
developing economies. The aim of this study is to examine these trends, including EGTs,
innovations and business models, and their potential benefits in limiting climate change and
promoting sustainable growth paradigms. Specifically, the study emphasizes the advantages
of green technology adoption in developing economies, with a focus on environmental
sensors/IoT, AI, smart grids, big data/analytics, blockchain and micro-electromechanical
systems (MICs).
Additionally, the study highlights the importance of incorporating sustainable practices
such as solar panels, composting, electric vehicles, programmable thermostats and vertical
farming into business development strategies. By striking a balance between environmental,
sociological and economic concerns, developing economies can obtain a sustainable future
that enhances people’s lives without sacrificing future generations’ capacity to meet their own
needs. Therefore, if EGTs are incorporated into businesses in developing and impoverished
 2,3

302

Table 4.
TECHS

future research
green technology,
findings, gaps and

study will deal with

directions where this
that gave ideas about
Summary of the papers
Authors and Publication
institutions year Title of the article Findings Gaps Future research directions

Paramati, S. R., 2022 The role of environmental Environmental technology Limited empirical Further research on
Shahzad, U., & technology for energy demand and reduces energy demand and evidence for developing environmental technology in
Do

gan, B energy efficiency: Evidence from improves efficiency countries developing countries
OECD countries
Hussain, M., & 2021 The role of institutional quality Institutional quality and green Limited focus on BRICS Examination of the impact of
Dogan, E and environment-related technology have a significant countries institutional quality and green
technologies in environmental impact on environmental technology on environmental
degradation for BRICS degradation degradation in other countries
Fatima, N., Li, Y., 2021 Factors influencing renewable Economic factors, policy Limited focus on the Investigation of the impact of
Ahmad, M., energy generation development: support and technological impact of social factors social factors on renewable
Jabeen, G., & a way to environmental advancements positively energy development
Li, X sustainability affect renewable energy
development
Mark Patrick 2019 Engaging with Wave and Tidal Wave and tidal power have Limited practical Further research on the
Power potential as sustainable application of wave and practical application of wave
energy sources tidal power and tidal power
Christian Cawley 2019 Is the Future of Automobile Really Electric vehicles have Limited adoption of Examination of barriers to
EV? potential as a sustainable electric vehicles adoption of electric vehicles
transportation option
Moe Long 2019 How to Save Energy With Smart Smart home automation can Limited practical Further research on the
Home Automation help reduce energy application of smart practical application of smart
consumption home automation home automation
Arshad, R. et al 2017 Green IoT: An investigation on IoT can contribute to energy Limited focus on the Examination of barriers to
energy saving practices for 2020 savings and sustainability practical practical implementation of IoT
and beyond implementation of IoT for energy savings
Fernando, Y. et al 2016 Does a firm’s innovation category Innovation category Limited focus on a Examination of the impact of
matter in practising eco- influences a firm’s eco- specific country innovation category on eco-
innovation? Evidence from the lens innovation practices innovation practices in other
of Malaysia companies practicing countries
green technology

(continued )
Authors and Publication
institutions year Title of the article Findings Gaps Future research directions

Garg A et al 2015 Energy infrastructure in India: India’s energy infrastructure Limited focus on energy Examination of the impact of
Profile and risks under climate faces risks due to climate infrastructure in other climate change on energy
change change countries infrastructure in other countries
Thompson RM 2013 Moving beyond methods: the need Diverse research programs are Limited focus on Examination of the impact of
et al for a diverse program in climate needed for effective climate specific research specific research programs on
change research change research programs climate change research
Bedard R et al 2010 An overview of ocean renewable Ocean renewable energy Limited practical Further research on the
energy technologies technologies have potential as application of ocean practical application of ocean
sustainable energy sources renewable energy renewable energy technologies
technologies
Dincer, I 2000 Renewable energy and sustainable Renewable energy is
development: a crucial review important for sustainable
development
Source(s): Author’s own creation
technology
business

303
innovations in
Green

Table 4.
TECHS nations, it could help these countries fulfill their needs while also promoting a sustainable
2,3 future for all.
Table 5 shows that numerous studies have explored green innovation, including
processes such as green engineering and waste recycling, and technologies like renewable
manufacturing. Chien et al. (2022) recommend encouraging technological R&D in
companies to progress technologically in Saudi Arabia. However, Khurshid and Deng
(2021) argue that some production and processing methods impair green growth, while
304 others such as transportation, water treatment and processing climate change mitigation
technologies boost green growth. Bhuiyan et al. (2023) empirically analyzed CO2 emissions
in China and found that increasing the share of renewable energy in the total energy mix has
a long-term effect of reducing CO2 emissions. Qu et al. (2017) found that China’s
manufacturing industries have substantial promotion potential in resource-saving and
environment pollutant reduction. Xue et al. (2022) suggest that digital transformation may
boost green technology innovation in China by easing finance limitations and obtaining
government subsidies. Mohsin et al. (2022) found that renewable energy deployment
increases sustainable performance by 3.2% and that investing in human resources and
R&D of sustainable energy resources will result in low-carbon development. Suki et al.
(2022) found that cutting-edge technology and renewable energy sources have a detrimental
impact on carbon emissions. Lastly, Li et al. (2022) found that green growth is positively
related to both green energy and green technological innovation, and that the latter can
amplify the positive influence of the former on growth and further promote sustainable
economic development.

4.2 Emerging green technology

The development of Green technology is helping the sustainable development of business.
People use “green technology”, which is also called “cleantech”, when they use technology
that makes products and processes more eco-friendly. For example, they can cut CO2
emissions or make products more biodegradable (Thompson et al., 2014; Garg et al., 2015;
Bedard et al., 2010). Green technology, in general, aims to help the world be more
environmentally friendly. Green technology is eco-friendly because it is made and used in a
way that does not harm the environment and saves resources (Dincer, 2000; Hussain and
Dogan, 2021; Paramati et al., 2022; Fatima et al., 2021). Green technology includes a wide range
of new materials and methods, from different ways to get energy to nontoxic cleaning
products (Gupta and Khurana, 2010; Bakar et al., 2011). In the past two decades, there has
been a lot of modernization and change in daily life because of information technology. In the
beginning, it is hard to say what “green technology” will be in the end (Tibbs, 2011; Bonds and
Downey, 2012; Bess, 2003).
Energy savings, energy efficiency in buildings, alternative energy sources, energy
consumption, food production, material recycling, transportation and logistics all create new
opportunities (Arshad et al., 2017). Science-based enterprises, in which skilled entrepreneurs
assist in funding scientific breakthroughs, are gaining traction in all of these fields.
Green technology is a new business, and as with any new path, it raises certain concerns
among individuals. Representatives of big and established industries are particularly wary,
and to allay their anxieties. This report concisely summarized the nature of green technology
and its entrepreneurial rewards. The primary purpose of green technology is to lessen the
environmental effect of human activities and to enhance the environment. It is a sustainable
and ecologically friendly technology that makes use of renewable energy sources and
materials to the greatest degree possible. At the same time, energy consumption is low, and/or
the materials produced are recyclable (Omer, 2008). It is critical that the goods that are
developed be ecologically friendly throughout their entire life cycle.
Author name
Green
and year Findings Gaps Future research direction technology
innovations in
Chien et al. Small- and medium-sized The study did not discuss Impact of green growth on
(2022) firms need to focus on green the impact of green growth the environment. Focus business
engineering processes, on the environment. The beyond Saudi Arabia
operations, waste recycling study focused on Saudi Company to include other
and renewable Arabia Company only, and companies in different 305
manufacturing. not on other companies in regions
Encouraging technological different regions
R&D in companies is
recommended. Modern
technology accelerates
technological progress
output for Saudi Arabia
Company
Khurshid and Production and processing The study did not discuss Future research is needed to
Deng (2021) methods impair green the impact of nonrenewable examine the impact of
growth. Transportation, energy on green growth. nonrenewable energy on
water treatment and The study did not discuss green growth. Further
processing climate change the impact of green growth studies should explore the
mitigation technologies on the economy relationship between green
boost green growth. growth and the economy
Renewable energy boosts
green output and growth,
whereas agricultural energy
usage emits greenhouse
gases
Bhuiyan et al. Increasing the share of The study did not discuss Further research is needed
(2023) renewable energy in the the impact of nonrenewable to examine the impact of
total energy mix has a long- energy on CO2 emissions. nonrenewable energy on
term effect of reducing CO2 The study did not explore CO2 emissions. Future
emissions by 0.87%, while the impact of green growth studies should explore the
increasing emissions by 26 on the economy relationship between green
basis points for every one growth and the economy
percentage point of GDP
growth
Qu et al. (2017) Green growth efficiency The study did not discuss Future research is needed to
value for China’s the impact of green growth explore the relationship
manufacturing industries on the economy. The study between green growth and
has steadily increased, and did not explore the impact the economy. Further
those industries have of nonrenewable energy on studies should examine the
substantial promotion green growth impact of nonrenewable
potentials in resource- energy on green growth
saving and environment
pollutant reduction
Table 5.
Xue et al. (2022) Digital transformation may The study did not discuss Further research is needed Analysis of relevant
boost green technology the impact of green growth to explore the relationship literature to find out the
innovation by easing on the economy. The study between green growth and newly developed green
finance limitations and focused only on the impact digital transformation. technology innovation
obtaining government of digital transformation on Future studies should in business and also
subsidies green technology examine the impact of green measuring the gaps
innovation growth on the economy and future research
direction where this
(continued ) study deals with
TECHS Author name
2,3 and year Findings Gaps Future research direction

Mohsin et al. Renewable energy The study did not discuss Nonrenewable energy,
(2022) deployment increases the impact of nonrenewable scope to study on the
sustainable performance by energy on sustainable countries of growing
3.2%. The Economic performance. The study economy
306 Community of West African focused only on the
States (ECOWAS) Economic Community of
government investment in West African States
human resources and R&D (ECOWAS)
of sustainable energy
resources will result in low-
carbon development
through an advanced
technical manufacturing
process, although the
consequences vary by
country
Table 5. Source(s): Author’s own creation

4.3 Emerging green technologies (EGTs) innovations

EGTs are those that have attained a certain level of technological maturity but still have
relatively small market shares globally, or those that are still at a relatively early stage of
technological development, albeit already useable in daily life. Drivers of EGT help to
innovate in the business that ultimately impacts sustainable production and consumption
(OECD, 2019). Figure 3 shows the Drivers of EGT those responsible for sustainable
production and consumption and the ultimate result is sustainable business.
Technology level – To integrate EGTs in production processes, players in MICs must be
familiar with effective EGT introduction strategies as well as the competitive benefits
technology bring to enterprises.
System perspective – Incorporating diverse areas of knowledge from various disciplines
engaged in EGT introduction would need an emphasis on system-related elements pertinent
to EGT introduction.
Paradigm shift – Encouraging greater public conversations about the benefits of EGTs
will be necessary for the sustainable transition of Micro-electromechanical Systems (MICs).
System knowledge level – Learning processes must be promoted at all levels to bring
about transformational innovation; this will demand substantial participation of actors in
education and training.

Figure 3.
Emerging green
technology (EGT) to
sustainable production
and consumption
4.4 Recent trends in green technology development in business Green
There’s an overall trend toward environmentalism across all sectors. Whether this means technology
restaurants banning plastic straws, a transition to clean energy sources, or purchasing
carbon offsets, society as a whole has witnessed an uptick in sustainability. Recently, green
innovations in
technology has become increasingly popular. Learn all about what green technology is and business
why it is important (Fernando et al., 2016).
Businesses are using cutting-edge technology to combat climate change.
307
(1) Environmental sensors/IoT – Sensor-enabled ecosystems may help companies
monitor environmental health, detect human influences on natural resources,
enhance fire and emergency response times, increase traffic efficiency and assist in
the construction of more sustainable cities.
(2) Artificial intelligence – Organizations may use AI’s continuous learning and pattern
recognition to predict ideal transformation scenarios.
(3) Smart grids – It helps minimize waste and dependency on fossil fuels, promote more
efficient energy use and offer use data that allows continual development.
(4) Big data/analytics – A huge ecosystem may be diagnosed using sophisticated
analytics to measure health and improve resource allocation.
(5) Blockchain – Blockchain reduces paper use, cutting carbon footprints. The
technology is also used to monitor and report on supply chain sustainability.
4.4.1 Examples of green technologies. Green technology emphasizes sustainability, as the
name implies. Tech-wise, there’s a lot to cover. Green energy focuses on long-term and short-
term environmental impacts.
LED Lighting – LED lighting is one example of green tech. Avoiding incandescent
lighting saves a lot of energy. LEDs consume less energy than incandescent. LED lights are
not only for visual assistance.
Solar Panels – Solar panels are not new, but decreased costs and tax advantages in many
locations have made them a viable choice. Even one solar water heater saves a lot of
electricity. Because solar energy is extremely efficient, any losses are quickly recouped
(Layton, 2009).
Wind Energy – Wind power is another great example of green technology in action. It is
often connected with wind farms. But small-scale windmills are a great way to incorporate
green technology into a home. Offshore wind turbines provide clean electricity reliably
(Patrick, 2019).
Composting – Composting is a great example of green technology. It’s so easy that
anybody can do it.
Electric Vehicles – As the electric vehicle business evolves, wireless charging possibilities
are found. Granted, charging an electric vehicle with a coal-fired grid is not the most
sustainable option, but it offers a greater gas economy and zero emissions. EV may be the
industry’s future (Cawley, 2019).
Programmable Thermostats – It is a low-cost option for green technologies. With a
programmable thermostat, it is possible to create a schedule to automatically change the
temperature to save energy and money. Also, programmable thermostats do not have to be
smart. Rather, many “dumb” thermostats allow scheduling. A smart thermostat adds the ease
of remote temperature monitoring and control (Long, 2019).
Vertical Farming – Vertical farming is a sustainable and environmental technique. The
idea is to grow food vertically rather than horizontally. Vertical farming increases
sustainability. Some vertical farming setups do not even need soil and save a lot of water.
TECHS 4.5 Latest green technologies need to be implemented in business for sustainability
2,3 Green technology considers both the long- and short-term impacts on the environment.
Examples of green technology include energy efficiency, recycling, health and safety issues,
renewable resources and more. Green technology is our greatest chance for reversing climate
change and pollution. Today introduction of emerging technological developments is
revolutionizing the energy business. These technologies capture clean energy from natural
resources like water and sunlight and have the potential to completely transform the energy
308 industry.
A sustainable future balances environmental, sociological and economic concerns to
enhance people’s lives. Economic, environmental and social sustainability are three
foundations. Business sustainability is the discipline of running a business without
negatively influencing the environment. As a result, a green business benefits the community
and economy (North, 1997). Table 6 shows some of the latest green technologies and business
models that are being implemented in various places throughout the world. If developing and
impoverished nations can incorporate EGTs into their businesses, they may fulfill their own
needs without jeopardizing future generations’ capacity to meet their own.
Wastewater electricity generation, new nuclear material, waste-sourced biofuel/pyrolysis,
biomimicry, electric automobiles, carbon capture, molten salt storage, artificial
photosynthesis and smart meters are all examples of cutting-edge green technologies that
businesses must implement for long-term growth and sustainability.

5. Benefits of adopting green technology in business

Green technology has the potential to significantly decrease pollution and waste products
associated with typical industrial operations. Along with minimizing adverse impacts on the
natural environment, these technologies enable more efficient resource usage. For instance,
sustainable agricultural activities may help avoid soil degradation caused by monoculture,
and sustainable construction materials are less likely to deplete.
Reducing Energy Bills – One of the most apparent advantages of being green at work is
lower energy costs. Small adjustments like utilizing LED lights may save some money each
month, but bigger improvements can save a lot. Users may simply minimize their overhead
expenses by using eco-friendly technologies and inexpensive upgrades (Weiss, 2016).
Reducing Water Use – While water is inexpensive in certain locations, technology may
help limit its consumption in the workplace. Many businesses will install motion-activated
faucets that switch off when no movement is detected. Sensor-based appliances have helped
some firms decrease waterwaste by more than half (Marvin, 2017).
Less Waste in the Workplace – Many organizations pay for monthly garbage disposal.
Insurance firms and other organizations that handle secret information will often pay for
paper shredding services. Using a paperless method reduces waste in the workplace. This
might save money on such services and reduce the company’s carbon impact.
Moving to a Green Web Host – The web hosting business as a whole emits pollutants. This
means the system has to generate more electricity, requiring power plants to produce more.
You’d be surprised how much power servers and cooling units need to keep your website
functioning.
Reducing General Office Expenses – Using more green technology can help save money
on office supplies. While the paper is the most apparent product, examine the others. A digital
and green system cuts costs. Storage for these goods may be reduced to create a way for
additional equipment and demands.
Improving Productivity in the Workplace – Many eco-friendly technologies also boost
productivity. The Cloud makes it far simpler to discover digital papers than a file cabinet.
Depending on the company’s services, this might lead to increased income.
Green business model/Key
technological
advancement Implication and sustainability in business Source(s) Technical challenges and associated cost

The Electric Car Electric cars may be up to 80% more efficient https://enveurope.springeropen. High initial cost of electric vehicles, limited range,
(emissions-wise) than gasoline. The perfect com/articles/10.1186/2190-4715-24- availability and accessibility of charging
antidote to the uncomfortable transition from oil to 14 infrastructure
renewable energy
Zero Energy Building and “Integrate structure, insulation, air and moisture https://www.archdaily.com/ High cost and complexity of implementation, need
3D Printing barriers, and external cladding” into a single shell 774493/this-3d-printed-building-by- for specialized skills and knowledge for designing
som-is-powered-by-a-3d-printed- and constructing such buildings
car
Additive Manufacturing Generate enough energy to maintain its usage, Biswas et al. (2017) High cost and complexity
Integrated Energy and paired with a hybrid automobile, it may be
utilized as a high-tech camper
Solar Energy Making solar panel entrepreneurs and firms salty. Eddie (2020) High initial cost of installation, dependence on
Restore faith in this renewable energy source. Kendall and Pais (2018) weather and geographic factors, intermittency
Molten salt may retain a lot of heat. Researching and storage challenges
sustainable alternatives offer electricity fast and
affordably to millions
Water-Generated Become a dependable alternative to current https://world-nuclear.org/ High capital and maintenance costs, challenges in
Electricity/Generation of energy sources. It is small and can catch any wave. information-library/energy-and- optimizing energy conversion efficiency,
Energy from the Waves Wave generators currently cannot compete with the-environment/renewable- environmental impacts and regulatory barriers
traditional energy sources such as coal and oil energy-and-electricity.aspx
because of high production and maintenance Al-Habaibeh (2010)
costs. Examples: Tidal energy and buoys’ pumps
Development of Artificial All items (excluding creative commodities) will be Rubish Please (2017) Challenges in developing and integrating complex
Intelligence (AI) produced by AI-controlled machines during our AI algorithms, ethical concerns and potential job
lifetime displacement

(continued )
technology
business

309
innovations in
Green

models and
List of emerging green
Table 6.

technologies
business innovation
 2,3

310

Table 6.
TECHS
Green business model/Key
technological
advancement Implication and sustainability in business Source(s) Technical challenges and associated cost

Water Purification Clean water is being squandered. The Earth Golka (2020) High capital and operational costs, need for
naturally recycles water, but modern technologies specialized equipment and skilled personnel,
assist technical challenges in achieving high levels of
Nanotechnology, microbial fuel cells, membrane purification and reducing waste streams
filtration and natural treatment methods like
wetlands
Recycling and Waste Green technological advances help manage and Nand et al. (2022) and Schmaltz et al. Challenges in optimizing waste collection and
Management recycle garbage. Example: aid in reducing plastic (2020) sorting systems, developing cost-effective and
waste efficient recycling technologies, reducing
contamination and waste disposal to landfill
Long-term Storage Could decrease underutilization costs and save Lamonica (2011) Technical challenges in developing high-capacity,
money by incorporating low-cost sources like Zhang et al. (2020) cost-effective and environmentally sustainable
solar and wind into the power supply. Examples: storage solutions, such as reducing reliance on
Batteries and hydropower dams rare earth metals and addressing safety and
environmental risks
Plastic Recycling Opportunity to embrace a circular business Hundertmark et al. (2018) Challenges in achieving high levels of plastic
strategy that eliminates waste across sectors recovery and purity, developing markets for
simultaneously delivering economic, social and recycled plastics, reducing contamination and
environmental advantages waste disposal
LED Light Efficiency LED lighting will cut energy use by 40%, saving https://www.energy.gov/eere/ssl/ Cost, technological development
$26bn at today’s pricing. Increased LED lighting led-lighting-forecast
investment saves 20% more energy
Carbon Capture and Captures carbon at the source, compresses it and Biniek et al. (2018) Developing more efficient carbon capture
Storage (CCS) moves it to a permanent storage place. Ability to technologies. Finding appropriate and secure
dramatically cut GHG emissions storage locations for carbon. High capital and
operating costs for CCS facilities. Additional costs
for transportation and storage of captured carbon
Hydrogen in the Energy By 2050, hydrogen-powered vehicles will power Rogers (2019) Developing affordable and efficient hydrogen
Transition over 400 million automobiles, 15 to 20 million production technologies. Scaling up hydrogen
buses, and 20% of passenger ships and trains. production to meet demand.
Hydrogen fuel might help the world achieve its High capital and operating costs for hydrogen
60% CO2 reduction target production facilities
Source(s): Author’s own creation
Improving Budgets for Greater Income – Moving to a green platform may save a lot of money. Green
These savings may then be used to increase income in other areas of the company. technology
Improving Employee Health – Employee wellness is one of the most effective workplace
advantages of eco-friendly technologies. Staff may miss work due to poor air quality or a mild
innovations in
climate. Working in a better setting may boost employee morale, which leads to increased business
productivity.
Improved Disaster Recovery – Green business practices might help the company recover
from even the worst calamities. Cloud-based business services provide one of the most 311
promising characteristics.
Attracting More Customers – There are more environmentalists than you think. Seventy-
three percent of millennials are ready to pay extra for eco-friendly products and services
(Curtin, 2018).
Tax Benefits – Depending on the technology used, there may be tax advantages. For
example, solar panels still qualify for a 30% tax credit.
Social Responsibility – Many enterprises use more resources than residential houses.
It only makes sense to reduce the amount of waste to maintain the local environment.

6. Building a bond with green technologies, innovations and sustainability in

business
Today, Green Technologies and innovations are used by some business organizations for
creating a new dimension for sustainable business. Six concepts of Green technology are
mostly used in the business organization like Energy Efficiency, Indoor Environment
Quality, Sustainable Site Planning and Management, Materials and Resources, Water
Efficiency, and Innovative green technology for long-term economic growth and
sustainability (Jainudin et al., 2017).
Green Technology – Environmental sustainability may be achieved in large part thanks to
the use of green technologies. New biotechnology and nanotechnology discoveries have spurred
the creation of environmentally friendly goods and services, many of which are fueled by tax
incentives, carbon levies and growing fossil fuel costs. A firm in the green sector manufactures
its goods only from renewable resources. To reduce carbon emissions, green industry companies
use as little water, energy and raw materials as possible, or they create methods to use these
resources in a sustainable and environmentally beneficial manner. This strategy reduces the
company’s impact on the environment and climate change. Many times garbage may be utilized
to create energy or raw materials, depending on the situation. Traditional business models
include raw material budgets, design processes and distribution systems for products and
services. A green business model stresses reducing the company’s environmental effect over
increasing profits, while yet generating a healthy amount of money. Solar panels and other
renewable energy sources may be used in place of fossil fuels to dramatically cut energy usage.
Technological Innovation in Business – Business innovation aims to create
environmentally friendly alternatives to damaging technologies. Modern economic
development is mostly driven by technological innovation. The green transition, as a
result, is not only consistent with long-term economic growth but also opens the door to a
wide range of new economic prospects for enterprises. According to current studies, the
dangers of fossil fuel extraction and air pollution are responsible for the deaths of one out of
every five people who live on the globe today. The process of creating something new or
enhanced that serves a firm better is known as business innovation. New products and
services, workflow improvements and other innovations that benefit the company are all
examples of this. This short experimentation produces information that helps firms decide
which technologies and innovations to employ, and which platforms and products to invest
on. It also encourages an “art of the possible” approach – reimagining consumers and
TECHS preparing forward. The issue is not that technology evolves rapidly, but that enterprises
2,3 must understand it better and embrace it quicker to keep up.
Sustainability – This is an endeavor to address social requirements using techniques that
do not deplete or harm natural resources. Sustainability is defined as meeting societal needs
in methods that do not damage or deplete normal assets. Meeting current demands without
jeopardizing future generations’ capacity to satisfy their own (Dao et al., 2011).
312
7. Green technologies and business practices
Table 7 represents the elements and output of Green technology, innovation and
sustainability.

8. Findings and future research direction

This study’s findings will aid in the design and implementation of new green technology and
innovations in current businesses, which will assist in limiting climate change and eventually
affect their move to sustainable growth paradigms.
Green technology is the process of developing and implementing goods, equipment and
systems that help protect the environment while minimizing the negative effect of human
activity. For business sustainability, technologies and innovations can take the form of green

Green technology,
innovation and
sustainability Concept and elements Output Sources/References

Green Technology Energy Efficiency Reducing Energy Bills Jainudin et al. (2017)
in Business Indoor Environment Reducing Water Use
Quality Less Waste in the Workplace
Sustainable Site Reducing General Office
Planning and Expenses
Management Improving Budgets for
Materials and Resources Greater Income
Water Efficiency Improving Employee Health
Innovative on Green Improved Disaster Recovery
Technology Attracting More Customers
Technological Collaboration Problem-Solving Better https://www.stlouisfed.
Innovation in Ideation Growth org/publications/bridges/
Business Implementation More Relevance summer-2009
Value Creation Gives a Competitive Edge https://jonasmuthoni.com/
Allows Businesses to Evolve blog/importance-
Alongside User technological-innovation
Expectations
Ingenuity
Sustainability Slack Resources, Renewable Energy Usage, https://online.maryville.
Openness, Commodities and Systems, edu/blog/importance-of-
Diversification, Environmental Protection, environmental-awareness-
Modularity and Nontoxic Materials, Waste when-running-a-business
Matching cycles Minimization, and Use of https://www.investopedia.
Table 7. Life Cycle Cost Analysis are com/articles/investing/
Relationship between all included in this collection 100515/three-pillars-
green technology, corporate-sustainability.
innovation and asp
sustainability Source(s): Author’s own creation
buildings or renewable energy sources (such as hydro, solar or biogas), nuclear, biofuels, Green
smart grids, energy storage, carbon capture, material recycling and energy-efficient technology
industrial operations, material recycling and reuse, trash incineration for energy production,
waste gas purification (such as automobile exhaust gas), smoke purifiers and dust collectors.
innovations in
Table 8 represents the newly developed green technologies and innovations that would help business
to transform the traditional business into sustainable business.
Last but not least, we’ve discovered that the current state of green technology innovation
is a boon to global corporate sustainability. According to the findings of this study, 313
developing countries should work to develop and implement newly developed Green
Technology Innovations in Sustainable Business to promote business investment in the
newly developed Green Technology Innovations.
There was no explanation given in this research as to how the new green BT and model
may be used to replace or modify the conventional business model and technologies. As a
result, qualitative data will be made available to researchers in the future who want to study

Newly developed green

technology and models Example of practical implications
innovations Sustainable business potentials for long-term business growth

New, green value-added Provides potential buyers with Dual flash-toilet Caroma, powder
materials/products/ economic and environmental benefits, coating by CSIRO, vanadium redox
processes new business model battery
Green neighborhoods and Eco-innovative solutions and a diverse Finland’s DigiEcoCity program and
cities variety of stakeholders Sweden’s eco-neighborhood
Energy, water and food inputs are Hammarby Sjostad are two
minimized, as are waste heat, air, and examples
water outputs and other contaminants,
consideration of environmental impact
Waste regeneration systems Valorization of waste, or the use of it as Ecoera Biochar, Alcoa bauxite
an input in the production of a residue
marketable product
Industrial symbiosis The commercial sharing of resources Apart from the Kwinana Regional
and wastes among industrial operators Synergies program, Frito Lay’s Net-
via interfirm recycling links. One Zero Plant promotes collaboration
firm’s garbage becomes another’s raw as well
material
Renewable energy-based Represent a diverse range of Dow Solar Powerhouse shingles
systems renewable energy uses, goods and and Brite Solar panels-windows
systems
Sustainable mobility Alternate modes of travel that have a Cleaner public transit, vehicle or
systems reduced environmental effect bike-sharing/rental schemes, and
more. Electric car-sharing and
battery rental model
Efficiency optimization by ICT product-based models are ICT systems, Intelen and smart
Information and fundamentally the ICT systems or grid, Carta Sense, TaKaDu, and E-
communication technologies software and hardware bundles that coupled
are supplied and sold to consumers
Functional sales and Environmentally friendly materials Qlean nonchemical cleaning service
management services model and techniques are used to provide
services. Remanufacturing and
reusing the product may be Table 8.
encouraged in the product’s usage Major findings of
phase newly developed green
Source(s): Author’s elaboration technology and models
Author’s own creation innovations
TECHS the shift from conventional business technologies and innovations to more recently
2,3 developed green technologies and innovations. The study’s findings will provide the
groundwork for future investigations into the most sustainable business opportunities. The
conclusions of this study may serve as a foundation for further research into the relationship
between green technology, innovation and a company’s long-term viability.

314 9. Key technological advancement of emerging green technology (EGT)

Table 9 represents the technological Advancement and Challenges of EGT which must be
considered by the business organization for sustainable business.

10. Recommended future trends of green technologies and ways to carbon zero
initiative moving forward
(1) Increasing the funding for the research and development of new green technologies,
such as carbon capture and utilization, energy storage, and materials science.
(2) Following circular economy principles to reduce waste and establish closed-loop
systems for resource use.
(3) Expanding renewable energy infrastructure by harnessing solar, wind and
geothermal power to reduce the reliance on fossil fuels and lower greenhouse gas
emissions.
(4) Encouraging sustainable transportation options, such as electric and hydrogen-
powered vehicles, and investing in public transportation systems to decrease
dependence on personal vehicles.
(5) Utilizing smart technology and data analytics to optimize energy consumption,
minimize waste and enhance efficiency in industrial processes.
(6) Implementing green building practices that include sustainable materials, energy-
efficient design and renewable energy sources to diminish the carbon footprint of the
built environment.

Technological
advancement Challenges

Carbon capture and High capital costs; energy required for capturing, compressing and
storage (CCS) transporting carbon dioxide; uncertainty about the long-term effectiveness of
storage
Hydrogen in the energy High production costs; lack of infrastructure for storage and transportation;
transition energy required for production; safety concerns; currently relies on fossil fuels
for production
LED lighting efficiency High initial costs; lack of consumer awareness; issues with light quality;
concerns about blue light emissions
Long-term energy storage High capital costs; dependence on rare materials for battery production; issues
with disposal and recycling of batteries
Plastic recycling Limited availability and access to recycling facilities; difficulty in sorting and
Table 9. separating materials; low market demand for recycled plastics; lack of uniform
Major findings of key
technological regulations
advancement and Renewable energy sources Intermittency and variability of power generation; high initial costs;
challenges of emerging dependence on government subsidies and incentives; need for energy storage
green solutions
technology (EGT) Source(s): Author’s own creation
Ways to carbon zero initiative moving forward: Green
(1) Carrying out regular assessments to identify the areas where improvements can be technology
made to maintain carbon neutrality. innovations in
(2) Increasing the use of renewable energy sources to reduce carbon emissions. business
(3) Encouraging the use of low-emission vehicles and promoting sustainable modes of
transportation. 315
(4) Creating awareness among stakeholders and employees about the importance of
maintaining carbon neutrality and engaging them in sustainability initiatives.

11. Concluding remarks and practical implication

To achieve sustainability, businesses must transition from old technologies to new green
technologies. Developing countries can benefit from using green technologies for water
treatment, waste management, climate change adaptation and low-emission technologies.
Although developed countries are utilizing green technology, developing countries need to
transform their traditional business models to incorporate green technology innovations to
reduce greenhouse gas emissions and support air pollution control and waste management.
Businesses and politicians can benefit from this research to safeguard the environment,
economy and society, and developing nations can utilize green business models and
technology to promote economic growth.
This research provides valuable insights for businesses and politicians seeking to protect
the environment, promote economic growth and create a sustainable society. The findings
will be particularly useful for emerging nations grappling with issues related to technical
innovation, safe environmental practices, reliable renewable energy sources and ecological
and economic growth.

12. Limitation
The first limitation of the study is the generalization of the findings. The sample size of the
study is limited. For that purpose, an SLR the researcher was performed “inclusion/exclusion
criteria” and “PRISMA flow diagram method”. Except these, there are many new techniques
of SLR. Further research with more sampling and sophisticated tests could produce better
results for this study.

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