Towards green growth: Industry structure and energy transition in OECD countries

Abstract

This paper is concerned with the impact on the global greenhouse effect issues and focus on comprehensive multi-indicator though analyze the relationship between CO2 emissions and real GDP, energy intensity, fraction of the renewable energy supply out of the total energy supply, and energy consumption from different sectors, including the agricultural, service, industrial and transport sectors. The panel data encompass all 37 Organization for Economic Co-operation and Development (OECD) member countries covering 20 years from 2000 to 2019 and divide into two subsamples, the first and second ten years, for comparison. The empirical results of all parameters track the sound progress of green growth trend in OECD countries in the second ten years (2010–2019). According to the OECD, green growth strategy had been acknowledged in OECD Ministerial Council Meeting in June 2009. Thus, the study divided into the first and second ten years with 2010 as the boundary to compare and the empirical result also indicates the green growth strategy in OECD countries have gradually matured in the last ten years. The implementation of the policy framework and measures includes pricing, removing perverse subsidies, ensuring the regulatory standards of energy efficiency, innovation, and infrastructure investments might also provide a reference and important information for energy policy makers.