Globalization and renewable energy use: how are they contributing to upsurge the CO2 emissions? A global perspective

The present study major aim was to examine the impact of globalization, economic growth, population growth, renewable energy usage and nuclear energy on CO2 emissions globally by taking the annual data varies from 1985 to 2020. Stationarity among study variables were tested via unit root testing, while nonlinear autoregressive distributed lag (NARDL) technique was used to demonstrate the linkages among variables with the estimation of long-run and short-run. Study results reveal that both in the short run and long run, negative globalization and economic growth shocks positively and negatively influence CO2 emissions, respectively. Besides, higher population growth is found to positively influence CO2 emissions while renewable energy consumption cannot influence the CO2 emission figures. Lastly, positive and negative shocks to alternative nuclear energy consumption are evidenced to negatively influence CO2 emissions both in the short run and long run. Hence, in line with these findings, several new policies and strategies are recommended for reducing carbon emissions globally.

Automated summary

This study analyzes the impact of globalization, economic growth, population growth, renewable energy usage, and nuclear energy on CO2 emissions. The results indicate that globalization and economic growth have different effects on CO2 emissions in both the short and long term. Population growth has a positive impact on CO2 emissions, while renewable energy consumption does not affect CO2 emissions. Furthermore, positive and negative shocks to nuclear energy consumption are found to negatively influence CO2 emissions. Based on these findings, new policies and strategies are recommended for global carbon emissions reduction.