Credit: UrFU / Ilya Safarov.
Military expenditures are highly counterproductive to green economic growth- documented by a recent study conducted by UrFU economist collaboration with an international research team. Sustainable economic development or green growth requires cleaner energy and green technology that can mitigate the negative externalities (e.g., carbon emission) of economic growth. The study utilized various macroeconomic indicators for 21 OECD countries over the year 1980-2016. This empirical study focusing on the dynamic impact of innovation, militarization and renewable energy on the green economy is published in the journal Environmental Science and Pollution Research .
On the one hand, the military-industry (land vehicles, aircraft, and sea-vessels) consume a gargantuan amount of fossil fuels. About 75% of the global non-renewable energy consumption (coal, gas, oil) is by military actions, economists claim. According to the BP report (without division by sectors