Abstract
Low carbon emission has a major positive impact on our society. Due to the importance of reducing carbon emission levels, factors that contribute significantly towards reducing carbon emission levels have attracted the interest of academics and researchers in the field. In this paper, the author develops a multiple linear regression analysis to examine the relationship between renewable energy consumption, biofuel production, resources productivity, bioenergy productivity, the level of urbanization and population and their impact on total carbon dioxide (CO2) emissions. Data was collected from the European Statistical Office (EUROSTAT) and four statistical hypotheses were validated through a regression model with panel data using the statistical software EViews 11. The study was conducted for 27 European Union (EU) countries during 2008 to 2017. The author’s findings indicate that renewables have a direct and positive influence on the levels of CO2 emissions, as opposed to population growth and urbanization. These findings suggest that public policy should be directed towards increasing the use of renewables in EU countries, while the level of urbanization and the population growth add more restrictions in the modelling equation of the impact on CO2 emissions.
Highlights
The Member States of the United Nations Framework Convention on Climate Change (UNFCCC)concluded the Paris Agreement to combat climate change and to intensify the actions needed for a sustainable transition towards a low-carbon future
The aim of this study is to analyze the impact of renewables, biofuels, resources, bioenergy, urbanization and population on CO2 emissions for a panel of 27 European Union (EU) countries, between 2008 and 2017
The multiple regression analysis concluded that the model was valid and correctly specified and the renewables were significant indicators of low carbon levels in all 27 EU countries, since the values of the estimated coefficients of the regression model were significantly different than zero and most of the variation of CO2 emissions in EU countries was explained by the model
Summary
Concluded the Paris Agreement to combat climate change and to intensify the actions needed for a sustainable transition towards a low-carbon future. The use of energy from green resources generates multiple concerns for academics as well as for the governments, in order to find the best solution to answer to the challenge of climate change. Ratifying the Paris Agreement and enforcing it by as many countries as possible would create the premise for achieving a low-carbon society. The real problem is how to reduce CO2 emissions and one of the solutions is the increasing use of renewables. The aim of this study is to analyze the impact of renewables, biofuels, resources, bioenergy, urbanization and population on CO2 emissions for a panel of 27 EU countries, between 2008 and 2017 Energy consumption will need to grow, taking into account the possibilities for achieving greater energy efficiency and for controlling greenhouse gas emissions in general, through the application of new technologies on terms which make such an application economically and socially beneficial.
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