Control of Carbon Emissions by Promoting Economic Growth and Renewable Energy in Newly Emerging Economic Block

Abstract

This research examines the effects of economic growth and energy consumption in the new developing economic block of Silk Road on carbon emissions (SERB). The energy consumption is further synthesized into renewable and non-renewable energy sources to distinguish their role in carbon emissions. This study considered panel data (1995-2014) of twenty-four middle-income countries along the Belt and Road initiative for empirical analysis. The fixed effect, random effect, and GMM methods were performed to confirm the cointegration relationship. Results highlighted the role of economic growth, renewable energy, and nonerasable energy on carbon emissions in the short and long run. Thus, it can be concluded that the newly emerging block resulting from Belt and Road initiative could get the maximum economic benefits of this project by using renewable energy sources. The new renewable energy projects may help increase clean energy and reduce carbon emissions in the emerging economic block due to the Belt and Road initiative.

Revisiting EKC hypothesis in context of renewable energy, human development and moderating role of technological innovations in E-7 countries?

“…Model 1: CO 2,it f (ln Y it , lnY 2 it , ln HDI it , ln RE it , lnTECH it ) CO 2,it f [ln Y it , ln Y 2 it , ln HDI it , ln RE it , lnTECH it , (ln RE*lnTECH) it ]EKC influence develops due to the large-scale productivity with superior technologies and demand for ecological eminence from the populace. This study's outcomes are in line with those ofGyamfi et al (2022),Nosheen et al (2021),Dogan and Turkekul, (2016), Balsalobre-Lorente et al (2022).…”

Evaluating the Current Energy-Cleanability Position and its Impact on the Economic Sustainability

“…The use of a considerable amount of energy also has negative health impacts. Furthermore, respiratory conditions, including tuberculosis, asthma, and respiratory cancer, are brought on by unclean energy (Nosheen et al, 2021). It's crucial to remember that greater use of unclean energy can result in higher greenhouse gas emissions (GHGs).…”