| Summary: | The announcement of the United States withdrawal from the Paris Agreement, also
known as the Paris Climate Accords, has influenced the innovation in the United
States since 2017. This dissertation paper aims to bring to light the impact of this
announcement on the innovation related to environmentally sound technologies
(EST) to depict a better understanding of the magnitude of the effect and the
plausible reasons behind it. In addition to that, the purpose of this research is to
shed light on the insights regarding the drift in the innovation measures and the shift
in the R&D investment of the EST innovation. The sample data for this study was
collected through the past patent information of firms from the United States for the
period of 2011 to 2020. The reason behind conducting a study on the EST innovation
in terms of the effect of the withdrawal announcement has briefly been discussed in
this paper. The EST innovation aligns with the objectives of the Paris Climate
Accords. Thus the withdrawal from this agreement might hinder the EST innovation
and its patenting activities in the United States. Therefore, studying the differential
effect on the innovation measures- in other words the patent quantity and patent
quality, after the announcement, helps to understand the aftershock of this
withdrawal. These findings indicate there is a decreasing trend in the patent quantity,
patent quality and the R&D investment after the announcement; leading towards the
conclusion that this withdrawal announcement has exerted an adverse shock on the
EST innovation.
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