Environmental deterioration in the age of industrialization and production: do industrial competition and renewable energy reduce the ecological burden?

Yuhuan, Zhao; Rasheed, Muhammad Qamar; Saud, Shah

doi:10.1007/s11356-023-31191-3

Environmental deterioration in the age of industrialization and production: do industrial competition and renewable energy reduce the ecological burden?

Research Article
Published: 06 December 2023

Volume 31, pages 2258–2278, (2024)
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Environmental Science and Pollution Research Aims and scope Submit manuscript

Zhao Yuhuan¹,
Muhammad Qamar Rasheed¹ &
Shah Saud¹

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Abstract

The modern era of globalization, economic development, and increase in manufacturing activity pose severe risks to the natural environment. In this context, industries must prioritize sustainable economic growth and development. Thus, the purpose of this study is to provide insight into industrial competition, renewable energy, economic freedom, manufacturing value added, economic growth, and carbon dioxide emissions (CO₂ emissions) in the top ten high-income countries from 1997 to 2019. The results from panel cross-sectional autoregressive distributed lag (CS-ARDL), augmented mean group (AMG), and common correlated effects mean group (CCEMG) techniques revealed that economic growth and industrial production have a harmful influence on CO₂ emissions. Meanwhile, industrial competitiveness, renewable energy, and economic freedom are all negatively associated with CO₂ emissions. This specifies that industrial competitiveness, renewable energy, and economic freedom are favorably related to environmental sustainability by limiting CO₂ emissions in the top ten high-income countries. These findings imply that governments and responsible authorities/policymakers develop strategies to reduce the environmental impact of manufacturing value addition and economic growth in the top ten high-income countries and allocate more financial resources to renewable energy and promote industrial competition.

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Data Availability

The data will be provided to the reviewers upon request.

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School of Management and Economics, Beijing Institute of Technology, Beijing, 100081, People’s Republic of China
Zhao Yuhuan, Muhammad Qamar Rasheed & Shah Saud

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Zhao Yuhuan
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Zhao Yuhuan: project administration, supervision, funding, review and editing. Muhammad Qamar Rasheed: conceptualization, software, formal analysis, methodology, investigation, resources, data curation, writing—original draft, writing—review and editing, visualization. Shah Saud: conceptualization, writing—review and editing.

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Yuhuan, Z., Rasheed, M.Q. & Saud, S. Environmental deterioration in the age of industrialization and production: do industrial competition and renewable energy reduce the ecological burden?. Environ Sci Pollut Res 31, 2258–2278 (2024). https://doi.org/10.1007/s11356-023-31191-3

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Received: 17 August 2023
Accepted: 19 November 2023
Published: 06 December 2023
Issue Date: January 2024
DOI: https://doi.org/10.1007/s11356-023-31191-3

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Environmental deterioration in the age of industrialization and production: do industrial competition and renewable energy reduce the ecological burden?