Heliyon (Nov 2024)
Factors affecting carbon dioxide emissions for sustainable development goals – New insights into six asian developed countries
Abstract
The worldwide economic scene faces the dual challenges of rising sea levels and escalating carbon dioxide (CO2) emissions. Environmental contamination impedes sustainable growth, increasing the demand for sustainable energy resources as a fundamental aspect of sustainable economies. The present research uses an analytical model to examine the elements influencing carbon dioxide output in six economically developed Asian nations, intending to assist in realizing the UNSDG- United Nations' Sustainable Development Goals. The manuscript applies the fixed effect model- FEM and the random effects approach- REM method. The research contributes to the science of the environment, climate research, and long-term environmental growth. Data for this investigation were sourced from the World Bank, covering the period from 2000 to 2020, about Hong Kong, Israel, Japan, Korea, Singapore, and China. This paper investigates the nexus between power usage (ECO), fossil fuel use (FFU), sustainable energy adoption (REC), foreign direct investment (FDI), imports, exports, economic development, population, and ecological contamination across six developed Asian countries. The study uses panel data regression analysis to examine how these factors influence carbon dioxide output, aiming to provide insights for long-term environmental growth policies. Key findings highlight the considerable effect of energy consumption patterns and economic activities on pollution levels, emphasizing the need for enhancements in energy conservation, a shift towards sustainable energy sources, and practical rules protecting the environment to mitigate environmental degradation. The empirical findings indicate that various factors, such as power usage, fossil fuel-based energy, sustainable energy usage, foreign direct investment (FDI), import and export activities, economic development, and population size, impact ecological contamination within these six nations. Specifically, FDI, economic development, and green energy influenced environmental degradation negatively. Conversely, factors such as power usage, energy from fossil sources usage, imports, exports, and population size correlate positively with ecological contamination. The research consequently advocates for developing green, circular, and sustainable economic frameworks within these six developed Asian countries in the foreseeable future.
