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Transitioning to clean energy: Assessing the impact of renewable energy, bio-capacity and access to clean fuel on carbon emissions in OECD economies

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  • Naeem, Muhammad Abubakr
  • Appiah, Michael
  • Taden, John
  • Amoasi, Richard
  • Gyamfi, Bright Akwasi

Abstract

This study examined how efforts to expand clean energy access and develop renewables, increase in biocapacity, and environmental policies impacted carbon emissions in 24 OECD countries from 2000 to 2020. Advanced statistical techniques accounted for differences between countries and connections between factors over time. Results showed increasing clean fuels/technologies and renewable energy lowered emissions, while biocapacity expansion and current policies increased emissions. Two-way relationships were found between emissions and each factor, indicating a feedback loop. The findings emphasize that although growing renewables is crucial, governments must also improve policies to optimize biocapacity infrastructure and accelerate transitions to cleaner technologies. Targeted initiatives in these areas can help OECD countries achieve emissions reductions and sustainability. Continued monitoring of these complex dynamics is key to informing effective climate action.

Suggested Citation

  • Naeem, Muhammad Abubakr & Appiah, Michael & Taden, John & Amoasi, Richard & Gyamfi, Bright Akwasi, 2023. "Transitioning to clean energy: Assessing the impact of renewable energy, bio-capacity and access to clean fuel on carbon emissions in OECD economies," Energy Economics, Elsevier, vol. 127(PA).
  • Handle: RePEc:eee:eneeco:v:127:y:2023:i:pa:s0140988323005893
    DOI: 10.1016/j.eneco.2023.107091
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    Cited by:

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    5. Alina Cristina Nuta, 2024. "The Significance of Economic Complexity and Renewable Energy for Decarbonization in Eastern European Countries," Energies, MDPI, vol. 17(21), pages 1-15, October.
    6. Naeem, Muhammad Abubakr & Ashraf, Sania & Karim, Sitara & Moussa, Faten, 2024. "Green finance under stress: Unraveling the spillover effects of tail risk," International Review of Economics & Finance, Elsevier, vol. 93(PA), pages 225-236.
    7. Ye, Tuo & Zhao, Songyu & Lau, Chi Keung Marco & Chau, Frankie, 2024. "Social media sentiment of hydrogen fuel cell vehicles in China: Evidence from artificial intelligence algorithms," Energy Economics, Elsevier, vol. 133(C).
    8. Naeem, Muhammad Abubakr & Gul, Raazia & Shafiullah, Muhammad & Karim, Sitara & Lucey, Brian M., 2024. "Tail risk spillovers between Shanghai oil and other markets," Energy Economics, Elsevier, vol. 130(C).

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