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

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

Energy Economics, 2023, vol. 127, issue PA

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.

Keywords: Renewable energy; Biocapacity; OECD; Carbon emission; Clean fuel and technology (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (12)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:127:y:2023:i:pa:s0140988323005893

DOI: 10.1016/j.eneco.2023.107091

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