Striving towards 2050 net zero CO2 emissions: How critical are clean energy and financial sectors?
The development of clean energy and financial sectors have been highlighted as critical factors in tackling climate change and achieving net zero emissions goals. Hence, using a dataset for the top 20 emitter countries from 1990 to 2019, this study examines whether clean energy consumption, financia...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Elsevier
2023-12-01
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| Series: | Heliyon |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2405844023099139 |
| _version_ | 1797383958034382848 |
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| author | Haibo Chen Jiawei Lu Emma Serwaa Obobisa |
| author_facet | Haibo Chen Jiawei Lu Emma Serwaa Obobisa |
| author_sort | Haibo Chen |
| collection | DOAJ |
| description | The development of clean energy and financial sectors have been highlighted as critical factors in tackling climate change and achieving net zero emissions goals. Hence, using a dataset for the top 20 emitter countries from 1990 to 2019, this study examines whether clean energy consumption, financial development, human capital, population, and economic growth are connected with environmental quality through a reduction in carbon emissions. The long-run estimates show that renewable energy utilization, financial development, and human capital are significant in reducing CO2 emissions in the quest for net zero emissions. Contrarily, economic growth and population have a increases CO2 emissions. The results of the causality test show a two-way causality between renewable energy use, financial development, economic growth, population, and CO2 emissions. Moreover, one incidence of unidirectional causality is observed from CO2 emissions to human capital. Based on the findings, policy implications are suggested. |
| first_indexed | 2024-03-08T21:28:32Z |
| format | Article |
| id | doaj.art-bcb53189346f49578de8dc7143d9eeae |
| institution | Directory Open Access Journal |
| issn | 2405-8440 |
| language | English |
| last_indexed | 2024-03-08T21:28:32Z |
| publishDate | 2023-12-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Heliyon |
| spelling | doaj.art-bcb53189346f49578de8dc7143d9eeae2023-12-21T07:34:22ZengElsevierHeliyon2405-84402023-12-01912e22705Striving towards 2050 net zero CO2 emissions: How critical are clean energy and financial sectors?Haibo Chen0Jiawei Lu1Emma Serwaa Obobisa2School of Finance and Economics, Jiangsu University, Zhenjiang 212013, PR ChinaSchool of Finance and Economics, Jiangsu University, Zhenjiang 212013, PR ChinaGlobal Commons and Climate Policy, Kiel Institute for the World Economy, Kiel, Germany; ZF-Centre for Sustainability Research, Zeppelin University, Friedrichshafen, Germany; Corresponding author. Global Commons and Climate Policy, Kiel Institute for the World Economy, Kiel, GermanyThe development of clean energy and financial sectors have been highlighted as critical factors in tackling climate change and achieving net zero emissions goals. Hence, using a dataset for the top 20 emitter countries from 1990 to 2019, this study examines whether clean energy consumption, financial development, human capital, population, and economic growth are connected with environmental quality through a reduction in carbon emissions. The long-run estimates show that renewable energy utilization, financial development, and human capital are significant in reducing CO2 emissions in the quest for net zero emissions. Contrarily, economic growth and population have a increases CO2 emissions. The results of the causality test show a two-way causality between renewable energy use, financial development, economic growth, population, and CO2 emissions. Moreover, one incidence of unidirectional causality is observed from CO2 emissions to human capital. Based on the findings, policy implications are suggested.http://www.sciencedirect.com/science/article/pii/S2405844023099139Clean energy useFinancial developmentnet zero emissionsSustainble development and Top emitters |
| spellingShingle | Haibo Chen Jiawei Lu Emma Serwaa Obobisa Striving towards 2050 net zero CO2 emissions: How critical are clean energy and financial sectors? Heliyon Clean energy use Financial development net zero emissions Sustainble development and Top emitters |
| title | Striving towards 2050 net zero CO2 emissions: How critical are clean energy and financial sectors? |
| title_full | Striving towards 2050 net zero CO2 emissions: How critical are clean energy and financial sectors? |
| title_fullStr | Striving towards 2050 net zero CO2 emissions: How critical are clean energy and financial sectors? |
| title_full_unstemmed | Striving towards 2050 net zero CO2 emissions: How critical are clean energy and financial sectors? |
| title_short | Striving towards 2050 net zero CO2 emissions: How critical are clean energy and financial sectors? |
| title_sort | striving towards 2050 net zero co2 emissions how critical are clean energy and financial sectors |
| topic | Clean energy use Financial development net zero emissions Sustainble development and Top emitters |
| url | http://www.sciencedirect.com/science/article/pii/S2405844023099139 |
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