Abstract
In order to limit the adverse effects of climate change, the carbon dioxide emissions should be controlled. These toxic emissions are associated with the energy sector like coal, oil, natural gas, which produce air pollution and it has to be reduced. Reductions can be brought about by using appropriate technologies and policy initiatives. Financial development has been an important factor, which influences the decision on carbon emissions. This study attempts to study the relationship between financial development and carbon emissions, based on the least square of NLS and ARMA method and the data, based on 10 developed countries and five developing countries, during the study period of 10 years from 1st April 2010 to 31st March 2019. The study employed the Kaya identity IPAT model, unit root test and co-integration test. The variables of GDP per capita and carbon dioxide (CO2) emissions were used as a measure of economic financial development and the status of environmental degradation.Keywords: Carbon dioxide emissions, Financial development, Urbanization, GDP per capita, Climate change, STIRPAT model.JEL Classifications: P44, Q40, Q48, Q54DOI: https://doi.org/10.32479/ijeep.11872
Highlights
Stabilizing climate change entails reducing net emissions of carbon dioxide (CO2) to zero
The report of the Intergovernmental Panel on Climate Change (IPCC) presents the consensus view of 830 scientists, engineers, and economists from more than 80 countries and it was formally endorsed by the governments of 194 countries
The first worldwide common efforts, to control and to stabilize the concentration of greenhouse gases (GHG) in the atmosphere, took place in the Earth Summit at Rio De Janerio in 1992, where many countries agreed on the United Nations Framework Conventions on Climate Change (UNFCCC)
Summary
Stabilizing climate change entails reducing net emissions of carbon dioxide (CO2) to zero. The first worldwide common efforts, to control and to stabilize the concentration of greenhouse gases (GHG) in the atmosphere, took place in the Earth Summit at Rio De Janerio in 1992, where many countries agreed on the United Nations Framework Conventions on Climate Change (UNFCCC). The objective of this convention was to “achieve stabilization of greenhouse gas concentration in the atmosphere, at a level, that would prevent dangerous anthropogenic interference with the climate system”. They should be achieved within “a time-framework sufficient to allow ecosystem to adapt naturally to climate change, to ensure that food production is not threatened and to enable economic development to proceed in a sustainable manner”
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: International Journal of Energy Economics and Policy
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
