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Overviewing Global Surface Temperature Changes Regarding CO 2 Emission, Population Density, and Energy Consumption in the Industry: Policy Suggestions

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  • Chien-Liang Chiu

    (Department of Banking and Finance, Tamkang University, No. 151, Yingzhuan Road, Tamsui District, New Taipei City 25137, Taiwan)

  • I-Fan Hsiao

    (Department of Banking and Finance, Chinese Culture University, No. 55, Hwa-Kang Road, Yang-Ming-Shan, Taipei City 11114, Taiwan)

  • Lily Chang

    (Department of Banking and Finance, Tamkang University, No. 151, Yingzhuan Road, Tamsui District, New Taipei City 25137, Taiwan)

Abstract

The focus of this study is to investigate the causal relationships between global surface temperature changes and various relevant economy-related factors and to provide a clearer regime for authorities. The study reveals that the growth rate of production-based CO 2 productivity and energy consumption in industrial, service, and transport sectors positively correlates with global surface temperature changes, aggravating the problem in the long run. However, it is evident that, on the one hand, the energy efficiency of industrial and service sectors needs to be highly scrutinized to address the mitigation issues of global surface temperature change. On the other hand, the contributions of the agricultural and transport sectors are not obvious due to their bidirectional causal relationships with respect to global surface temperature changes. Thus, improving energy efficiency and consumption in these sectors should also be a significant concern. Furthermore, the study highlights the positive causal relationship between population density and the contribution of renewable energy to global surface temperature change. Although population density aggravates the issue, the use of renewable energy confronts it. The contribution from empirical evidence presented in this study emphasizes the need for industries to improve their energy efficiency and consumption in order to mitigate global surface temperature changes.

Suggested Citation

  • Chien-Liang Chiu & I-Fan Hsiao & Lily Chang, 2023. "Overviewing Global Surface Temperature Changes Regarding CO 2 Emission, Population Density, and Energy Consumption in the Industry: Policy Suggestions," Sustainability, MDPI, vol. 15(8), pages 1-16, April.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:8:p:7013-:d:1129640
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