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The importance of facilitating renewable energy transition for abating CO2 emissions in Morocco

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Abstract

Achieving environmental sustainability has become a core policy agenda of the Moroccan government. The nation’s monotonic dependence on fossil fuels for meeting the local energy demand has been acknowledged as the major cause of environmental distress. Besides, Morocco has traditionally been a major importer of fossil fuels whereby the nation’s fossil fuel dependency could not be phased out to a large extent. Consequently, the greenhouse gas emission figures of Morocco have persistently surged over the years. Moreover, Morocco has large reserves of untapped renewable energy sources which can be employed for producing power without significantly degrading the environment. Against this backdrop, this study explores the renewable energy consumption-carbon dioxide emissions nexus, controlling for economic growth, financial development, and foreign direct investment inflows, in the context of Morocco over the period between 1980 and 2017. In addition, along with the direct impacts, the indirect environmental impacts associated with renewable energy consumption are also scrutinized in this study. The empirical strategy involves the application of econometric methods that are robust to handling structural break issues in the data. Overall, the results reveal that renewable energy consumption curbs carbon dioxide emissions both in the short and long run. In contrast, financial development and foreign direct investment inflows boost carbon dioxide emissions in Morocco. However, these adverse environmental impacts are partially neutralized by facilitating greater renewable energy use within Morocco. The results indicate that renewable energy consumption interacts with financial development and foreign direct investment inflows to jointly reduce the carbon dioxide emission figures of Morocco in the long run. Furthermore, the findings also validate the environmental Kuznets curve hypothesis in the long run only. In line with these key findings, it is recommended that the Moroccan government should adopt relevant policies that can help the nation overcome the existing barriers faced in transitioning from non-renewable to renewable energy use. Simultaneously, it is also necessary for Morocco to achieve environmentally sustainable economic growth by greening its financial sector and revisiting its financial globalization policies.

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Change history

  • 25 November 2021

    Typo correction in Abstract change from Mexico to Morocco.

Notes

  1. BRICS stands for Brazil, Russia, India, China, and South Africa.

  2. The PHH postulates that FDI inflows degrade environmental quality in the host economies by triggering greater emissions of CO2. For more information on the PHH, see Banerjee and Murshed (2020).

  3. To ensure brevity, the descriptive statistics of the variables and the corresponding correlation matrix are not reported. However, these tables can be made available upon request.

  4. Although the Maki (2012) approach can identify up to five structural breaks in the data, we limit it to two considering the short length of the period used in this study.

  5. It is to be noted that the coefficients corresponding to the structural break dummy variables are found to be statistically significant. Thus, the relevance of controlling for structural break issues is justified.

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Data availability

The datasets used during the current study are available from the corresponding author on reasonable request.

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Authors and Affiliations

  1. Laboratory of Economics and Organization Management. Faculty of Economics and Management, Ibn Tofail University, Kenitra, Morocco

    Soufiane Bouyghrissi

  2. School of Business and Economics, North South University, Dhaka, 1229, Bangladesh

    Muntasir Murshed

  3. Economics Area, Indian Institute of Management Indore, Rau-Pithampur Road, Indore, 453556, India

    Abhinav Jindal

  4. NTPC Ltd., NTPC Bhawan, Lodhi Road, New Delhi, 110003, India

    Abhinav Jindal

  5. Faculty of Legal, Economic and Social Sciences, Mohamed V University, Rabat, Morocco

    Abdelmoumen Berjaoui

  6. Department of Finance, College of Business Administration, Prince Sattam Bin Abdulaziz University, 173, Alkharj, 11942, Saudi Arabia

    Haider Mahmood

  7. National School of Business and Management, Hassan II University, Casablanca, Morocco

    Maha Khanniba

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  1. Soufiane Bouyghrissi
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  2. Muntasir Murshed
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  3. Abhinav Jindal
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  4. Abdelmoumen Berjaoui
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  5. Haider Mahmood
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  6. Maha Khanniba
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Contributions

SB conceptualized, conducted the econometric analysis, and wrote the introduction. MM conceptualized, wrote the original draft, conducted the econometric analysis, highlighted the policy implications, and supervised the work. AJ conducted the literature review and reviewed the draft. AM analyzed the findings and conducted the literature review. HM wrote the introduction and concluding remarks. MK wrote the original draft and compiled the overall manuscript.

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Correspondence to Muntasir Murshed or Abhinav Jindal.

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Bouyghrissi, S., Murshed, M., Jindal, A. et al. The importance of facilitating renewable energy transition for abating CO2 emissions in Morocco. Environ Sci Pollut Res 29, 20752–20767 (2022). https://doi.org/10.1007/s11356-021-17179-x

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