Carbon dioxide emissions, population, foreign direct investment, and renewable energy nexus: New insights from Thailand

Abstract

This study investigates the multifaceted interplay between carbon dioxide emissions, population dynamics, foreign direct investment (FDI), and renewable energy (RE) within the unique context of Thailand. Amidst rapid economic growth and urbanization, Thailand faces pressing environmental challenges, making it an ideal case study for understanding the complex relationships between these variables. As a nation experiencing rapid economic growth and urbanization, Thailand provides a compelling case study for understanding the complex relationships between these variables. The paper uses the unrestricted random panel data method. Data is gathered from the World Bank from 2000 to 2022. The research addresses several critical issues using a mixed-methods approach and drawing data from national statistical agencies and environmental databases. The paper's primary objective is to explore how population dynamics, FDI, and RE adoption influence carbon emissions in Thailand. The rigorous analysis unveils key insights: a positive correlation between population growth and carbon emissions, nuanced relationships between FDI and emissions across sectors, and the significant impact of RE adoption on emissions reduction, particularly in high-emission sectors. This work contributes to the existing literature by offering novel findings and policy recommendations tailored to Thailand's environmental challenges. By addressing identified issues, such as sector-specific emissions patterns and the influence of FDI on emissions, the study provides actionable insights for policymakers striving to balance economic growth with environmental sustainability. Significantly, this manuscript advances the field by emphasizing the need for an integrated approach to environmental policymaking and highlighting the potential of RE as a critical driver of emissions reduction. The study's originality lies in its comprehensive analysis of the intricate nexus between carbon emissions and socio-economic factors within the Thai context. In conclusion, this research underscores the importance of informed environmental policymaking and offers practical implications for fostering sustainable development in Thailand and beyond. By leveraging the innovative insights and recommendations presented in this manuscript, policymakers can navigate the complexities of environmental stewardship while driving positive change towards a greener and more sustainable future.