Abstract
Rising CO2 emission constitute a great threat to the world environment and public health. This study examines the major determinants of CO2 emissions in Far East countries in the period of 1980 to 2017. We adopt a panel data-fixed effect model that accounts for time-invariant country-specific characteristics that may create omitted-variable bias. We also additionally take care of the time trend by applying an annual fixed effect into our model. The study finds that urbanization, economic growth and trade openness significantly determine CO2 emission in the selected countries. Thus, the main policy suggestions are (a) to encourage green and sustainable urbanization, as it helps in economic progress but not at the expense of environmental deterioration; (b) to strategically regulate and improve industrial structure; and (c) enhance sharing of renewable energy in total energy consumption.
Highlights
Global warming is a major threat to the world environment and public health [1,2]
CO2 is the carbon dioxide emission, URB indicates the urbanization (% of total population), GDP specifies the gross domestic product, while TO shows the trade openness. γi represent the individual country-specific time invariant characteristics controlled through fixed effect model
CO2 emission in studied countries will increase by 2.7 percent with a 1 percent increase in urbanization
Summary
Global warming is a major threat to the world environment and public health [1,2]. The massive industrial revolution in recent years ran by huge consumption of fossil fuels and consequent quick increase in emissions of carbon dioxide (CO2 ) has led to austere global warming [3,4,5].The Intergovernmental Panel on Climate Change (IPCC) reported an increase of average surface temperature by 0.6 ◦ C in the twentieth century ascribed to greenhouse gases [2]. Global warming is a major threat to the world environment and public health [1,2]. The massive industrial revolution in recent years ran by huge consumption of fossil fuels and consequent quick increase in emissions of carbon dioxide (CO2 ) has led to austere global warming [3,4,5]. The prevailing global warming and the subsequent climate change pose potential diverse physical, ecological and health threats reciprocated by extreme weather conditions and consequent events like floods, storms, droughts and the heat waves that is accompanied by other fatal conditions like rise in sea level, altered growth of the crops and affected water systems [2,6].
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