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Roadmap for climate alliance economies to vision 2030: retrospect and lessons

Abstract

The United Nations Climate Conference 25, held in December 2019, reached a significant agreement against implementing the Paris agreement come 2020. Bound by the contract, 189 countries who are party to the deal agreed to constrain worldwide temperature to ascend to 1.5° Celsius. To this end, the present study attempts to investigate the readiness of selected countries in the European Union to implement the agreement, which will better the quality of the global environment. In line with this, this study appraises the connection between economic growth, renewable and non-renewable energy consumption, on emissions in 11 countries in the European Union from 1990 to 2016. The study utilises the Pooled Mean Group-Auto Regressive Distributed Lag (PMG-ARDL) model estimator and Dumitrescu and Hurlin Panel Causality analysis to analyse the long-run and short-run impact and direction of causality among these factors, respectively. The long-run study's empirical results show a U-shaped Environmental Kuznets Curve (EKC) and a negative connection between renewable energy use and emissions in the EU-11 countries. In the short-run, non-renewable energy use worsens CO2 emissions while renewable energy use leads to a fall in emissions. Similarly, causality tests show a feedback mechanism between emissions and renewable energy use and between non-renewable energy and renewable use. Also, there is unidirectional causality from income to CO2 emissions, non-renewable energy use to CO2 emissions. The investigation recommends an expanded proportion of renewable energy sources in the EU countries’ energy mix to cut down on emissions.

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Data availability

The data for this present study are sourced from the World Development Indicators (https://data.worldbank.org/). The current data, specific data, can be made available upon request but all available and downloadable at the earlier mentioned database and weblink.

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The first author (Dr Festus Fatai Adedoyin) was responsible for the conceptual construction 646 of the study’s idea. The second author (Prof. Dr Andrew Adewale Alola) handled the literature section while the third author (Asst. Prof.Dr. Festus Victor Bekun) managed the data gathering, responsible for proofreading and manuscript editing.

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Correspondence to Festus Victor Bekun.

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The authors mentioned in the manuscript have agreed for authorship read and approved the manuscript, and given consent for submission and subsequent publication of the manuscript.

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I wish to disclose here that there are no potential conflicts of interest at any level of this study.

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Adedoyin, F.F., Bekun, F.V. & Alola, A.A. Roadmap for climate alliance economies to vision 2030: retrospect and lessons. Environ Sci Pollut Res 28, 37459–37470 (2021). https://doi.org/10.1007/s11356-021-13380-0

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  • DOI: https://doi.org/10.1007/s11356-021-13380-0

Keywords

  • CO2 emissions
  • Renewable energy
  • Non-renewable energy
  • Economic growth
  • Environment