Environmental stewardship: Analyzing the dynamic impact of renewable energy, foreign remittances, and globalization index on China's CO2 emissions

Abstract

Greenhouse gas emissions are a major hazard to the planet's ecosystem and humanity and contribute to global warming. Consequently, it's critical to investigate China's emission-inducing elements' core functions. To that end, the dynamic effects of renewable energy, foreign remittances, globalization, financial development, and economic growth on carbon intensity in China are explored in this research. The study analyzed data spanning from 1990 to 2020 and employed the linear Autoregressive Distributed Lag (ARDL) technique and various diagnostic tests. The findings of the linear ARDL methodology reveal that renewable energy mitigates the destruction of the environment; however foreign remittances, globalization, financial development, and economic growth exacerbate environmental deterioration in China. Furthermore, the outcomes specify that renewable energy has a negative short- and long-term impact on environmental erosion. Renewable energy sources are a tremendous tool for supporting China's initiatives to protect energy independence while reducing climate change. Additionally, concrete actions need to be taken by the Chinese government to minimize CO2 emissions to boost social prosperity and sustainability.