Original scientific paper
https://doi.org/10.1080/1331677X.2022.2038651
Revisiting energy efficiency and energy related CO2 emissions: Evidence from RCEP economies
Zhihui Tu
Chenpei Feng
Xin Zhao
orcid.org/0000-0002-6232-9835
Abstract
Since the last four decades, energy demand has been reached to
the utmost level, which also leads to emissions and causes environmental
degradation, global warming and climate change all
over the world. In this sense, policy makers have suggested various
measures including renewable adoption and energy efficiency.
Current study aims to investigate the influence of
economic growth, energy consumption, renewable electricity output,
and energy efficiency on the energy related emissions. A
panel of 12 RCEP economies are examined covering the period
1990-2020. Since the data follows irregular path, therefore a novel
method of moment panel quantile regression is employed along
with the Granger causality test. The empirical results indicate that
economic growth and energy consumption significantly enhances
energy related emissions, where the magnitude and significance
level is found strengthening from lower to upper quantiles (Q0.25,
Q0.50, Q0.75 and Q0.90). Conversely, renewable electricity and energy
efficiency are the significant tools for lowering energy related
emissions in the region. Additionally, a unidirectional causality is
found from energy consumption and renewable electricity output
to energy related emissions. However, a feedback effect is validated
between economic growth, energy efficiency, and energy
related emissions. Based on the empirical findings, this study suggests
enhancement of renewable electricity output and adoption
of energy efficient technologies to reduce environmental degradation
and emission level.
Keywords
Energy Efficiency; Energy Related Emissions; Economic Growth; Renewable Electricity; Energy Consumption; Method of Moment Quantile Regression
Hrčak ID:
302953
URI
Publication date:
31.3.2023.
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