Journal
GONDWANA RESEARCH
Volume 117, Issue -, Pages 41-55Publisher
ELSEVIER
DOI: 10.1016/j.gr.2022.12.021
Keywords
Natural resources depletion; Renewable energy; Fossil fuel energy; Dynamic ARDL
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The United States, the second-largest polluter in the world, has set specific goals to reduce net CO2 emissions by 50 to 52 percent from 2005 levels by 2030. The study examines the relationship between renewable energy, fossil fuel energy, natural resources depletion, and globalization on CO2 emissions in the United States. The findings suggest that while renewable energy has a positive impact, the country still relies heavily on fossil fuels and faces challenges in reducing CO2 emissions.
The United States is the second-largest polluter in the world, producing 4.7 billion metric tonnes of car-bon dioxide in 2020. At the Leaders' Climate Summit, the US president outlined specific targets to tackle climate change, including a 50 to 52 percent reduction in net CO2 emissions from 2005 levels by 2030. Therefore, it is critical to pinpoint the key factors succumbing to the heightened commitment to accom-plishing the SDGs. The study explores the relationship between renewable energy, fossil fuel energy, nat-ural resources depletion, and globalization on CO2 emissions in the United States from 1980 to 2018 by employing the novel dynamic Autoregressive Distributed Lag (ARDL) simulations and Kernel-based Regularized Least Squares (KRLS) machine learning approach. The findings indicated that renewable energy has a positive long-term impact, suggesting that the United States has not yet reached a point where renewable energy sources are sufficient to reduce CO2 emissions. However, shock in fossil fuel energy increases CO2 emissions in the long run. The empirical findings reveal that natural resource deple-tion stimulates CO2 emissions in the short-and long run. Finally, globalization found no evidence to affect environmental pollution. The KRLS approach has confirmed the hypothesis substantially. The results sug-gest the growth of renewable energy and diminishing dependency on fossil fuel use; also, the manage-ment of ecological footprint could play an imperative role in environmental sustainability.(c) 2023 International Association for Gondwana Research. Published by Elsevier B.V. All rights reserved.
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