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Reinvigorating the role of clean energy transition for achieving a low-carbon economy: evidence from Bangladesh

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Abstract

Achieving carbon-neutrality has become a global agenda following the ratification of the Paris Agreement. For the developing countries, in particular, attaining a low-carbon economy is particularly important since these economies are predominantly fossil-fuel dependent, to which Bangladesh is no exception. Therefore, this study specifically aimed at evaluating the environmental impacts associated with energy consumption and other key macroeconomic variables in the context of Bangladesh over the 1975–2016 period. As opposed to the conventional practice of using carbon dioxide emissions to proxy environmental quality, this study makes a novel attempt to use the carbon footprints to measure environmental welfare in Bangldesh. The outcomes from this study are expected to facilitate the carbon-neutrality objective of Bangladesh and, therefore, enable the nation to comply with its commitments concerning the attainment of the targets enlisted under the Paris Agreement and the United Nations Sustainable Development Goals declarations. The econometric analysis involved the application of methods that are suitable for handling the structural break issues in the data. The overall findings from empirical exercises reveal that aggregate energy consumption, fossil fuel consumption, and natural gas consumption boost the carbon footprint figures of Bangladesh. In contrast, nonfossil fuel consumption and hydroelectricity consumption are witnessed to abate the carbon footprint levels. Besides, economic growth and international trade are also evidenced to further increase the carbon footprints. Hence, these findings suggest that a clean energy transition within the Bangladesh economy can be the panacea to the nation's persitently aggravating environmental hardships. Furthermore, the causality analysis confirmed the presence of unidirectional causalities stemming from total energy consumption, fossil fuel consumption, natural gas consumption, hydroelectricity consumption, economic growth, and international trade to the carbon footprints. On the other hand, nonfossil fuel consumption is found to be bidirectionally associated with carbon footprints. In line with these aforementioned findings, several key policy suggestions are put forward regarding the facilitation of the carbon-neutrality agenda in Bangladesh.

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Notes

  1. Clean energy transition refers to the phenomenon of replacing the use of unclean fossil fuels with cleaner alternatives.

  2. The EFP, introduced by Rees (1992) and later on improvised by Wackernagel and Rees (1998), quantify the quality of the environment within a country in the respect of its human ecological demands as opposed to its corresponding biocapacity to meet those demands.

  3. The benefits of using CFP as an alternative to the conventionally used CO2 emission figures are discussed in the subsequent section.

  4. BRICS refers to the group of emerging economies including Brazil, Russia, India, China, and South Africa.

  5. Although the use of renewable energy consumption figures would have provided better insights on the asymmetric energy-consumption impacts on Bangladesh’s environmental quality, data concerning the share of renewables in the nation’s total final energy consumption is only available from 1990 onwards. Thus, the nonfossil fuel energy consumption figures are used to proxy for renewable energy use in Bangladesh.

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

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Authors and Affiliations

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

    Muntasir Murshed

  2. School of Management and Economics, Beijing Institute of Technology, Beijing, 100081, China

    Zahoor Ahmed

  3. Department of Economics and Finance, College of Business Administration, University of Bahrain, Zallaq, P.O. Box 32038, Kingdom of Bahrain

    Md Shabbir Alam

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

    Haider Mahmood

  5. College of Economics and Management, Henan Agricultural University, Zhengzhou, 450002, China

    Abdul Rehman

  6. Amity School of Economics, Amity University Uttar Pradesh, NOIDA, 201301, India

    Vishal Dagar

Authors
  1. Muntasir Murshed
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  2. Zahoor Ahmed
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  3. Md Shabbir Alam
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  4. Haider Mahmood
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  5. Abdul Rehman
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  6. Vishal Dagar
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Contributions

MM conceptualized, wrote the paper, conducted the econometric analysis, and analyzed the findings. ZA compiled the literature review and wrote the paper. MSA compiled the literature review and generated the graphical illustrations. HM wrote the theoretical framework and the conclusion. AR compiled the literature review and contributed in the methodology section. VD generated the graphical illustrations, interpreted the results, and compiled the data.

Corresponding author

Correspondence to Muntasir Murshed.

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The authors declare no competing interests.

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Resposible Editor: Ilhan Ozturk

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Murshed, M., Ahmed, Z., Alam, M. et al. Reinvigorating the role of clean energy transition for achieving a low-carbon economy: evidence from Bangladesh. Environ Sci Pollut Res 28, 67689–67710 (2021). https://doi.org/10.1007/s11356-021-15352-w

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  • DOI: https://doi.org/10.1007/s11356-021-15352-w

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