Analysing the waste management, industrial and agriculture greenhouse gas emissions of biomass, fossil fuel, and metallic ores utilization in Iceland

Abstract

With Iceland's CAP 2020, the country aims significant improvement in the state of its environment through reduction in greenhouse gas (GHG) emission especially in energy production and small industry, waste management, ships and ports, land transport, and agriculture by 2030. Considering this ambition, this study queries whether the consumptions of domestic materials i.e., DMC (especially metallic ores, biomass, and fossil fuels) exhibit differential impact on (i) aggregated greenhouse gas emissions i.e., GHG, (ii) waste management greenhouse gas emission i.e., WGHG, (ii) industrial greenhouse gas emission i.e., IGHG, and (iv) agriculture greenhouse gas emission i.e., AGHG during the period 1990 to 2019. By using Fourier function approaches, the investigation establishes that metallic ores DMC spur GHG, but biomass and fossil fuel DMC mitigate GHG in the long run. Additionally, biomass DMC mitigates AGHG and WGHG by respective elasticities of 0.04 and 0.025 in the long run. While IGHG is significantly reduced by fossil fuel DMC with elasticity of 0.18 in the long run, the AGHG and WGHG are unaffected by the consumption of fossil fuel domestic materials. Moreover, metallic ores DMC spurs only IGHG by elasticity of ∼0.24. The overall evidence shows the need for more stringent material use and resource circularity (especially for metallic ores and fossil fuels) for the country to stay on course of the CAP 2020 and maintain environmental sustainability.