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Abstract

Statement of the Problem: With the rapid pace of economic development there are ongoing challenges regarding environmental pollution, urbanization process and energy security. These issues shed light that how to achieve the sustainable economic growth in the long run with renewable energy application. The economy of the United Arab Emirates (UAE) has prospered and its nominal gross domestic product (GDP) has grown 27 times since 1975, becoming the second largest economy in the Arab world after Saudi Arabia. The high pace of growth over the past years has been largely supported by the revenues from oil and gas, which the country has systematically reinvested in economic diversification in preparation for the approaching post-oil era. UAE has high economic development but the country has faced serious environmental challenges arisen from the high of growth in population, energy and water demand and urban areas. The purpose of this study is to examine the role of technical innovation in order to have effective planning to combat future environmental challenges. Methodology & Theoretical Orientation: Current study utilized a time series ARDL Model to analyze the co-integration, long and short run relationship among economic growth, energy consumption, CO2 emissions, urban sprawl and technical innovation. We have used IPAT model to highlight the theoretical background to develop the econometric model. Findings: The overall results predicted that there is close relationship between CO2 emissions and its determinants as GDP, population and energy consumption. There is expected to be bidirectional causality between GDP and energy consumption in UAE economy. Conclusion & Significance: Overall the result led to important policy implications for UAE, firstly; emanating from various climate change challenges it is strong belief that building a human capital is far more critical than urban development, the UAE is keen on creating a wealth of human resources capable of meeting the country�s aspirations of development across various sectors. The UAE distinctly demonstrates its ability to attract and retain top talent by becoming a primary destination for educated Arab youth seeking a better professional and personal life, besides ranking first worldwide in attracting global talent. The allocation of resources in R&D can push the economy towards green economy. Moreover, the effective policies can support UAE in achieving vision 2021 while becoming a global hub and a successful model of sustainable development.

Biography