An inquiry into the relationship between growth of energy and carbon (CO2) emissions across the globe

Abstract

This paper attempts to investigate the relationship of economic growth, population, energy demand and CO2 emissions on a global level using time series data model estimated by means of multiple regression for the period 1990–2018. In the last thirty years’ consumption of energy has virtually doubled. In between 1990 to 2018 the Compound Annual Growth Rate (CAGR) of primary energy consumption increased at a rate of 1.86%. The rise is consumption is primarily attributable to the increase in population and economic development. The empirical evidence indicates a positive relationship between increase in population, rising GDP, growth of energy consumption and carbon emissions.