Interconnection between the Dynamic of Growing Renewable Energy Production and the Level of CO 2 Emissions: A Multistage Approach for Modeling

Łukasz Skowron, Olena Chygryn, Marcin Gąsior, Vitaliia Koibichuk, Serhiy Lyeonov, Serhii Drozd and Oleksandr Dluhopolskyi ()
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Łukasz Skowron: Faculty of Management, Lublin University of Technology, 20-618 Lublin, Poland
Olena Chygryn: Department of Marketing, Sumy State University, 40007 Sumy, Ukraine
Marcin Gąsior: Faculty of Management, Lublin University of Technology, 20-618 Lublin, Poland
Vitaliia Koibichuk: Economic Cybernetics Department, Sumy State University, 40007 Sumy, Ukraine
Serhiy Lyeonov: Economic Cybernetics Department, Sumy State University, 40007 Sumy, Ukraine
Serhii Drozd: Economic Cybernetics Department, Sumy State University, 40007 Sumy, Ukraine
Oleksandr Dluhopolskyi: Faculty of Public Administration and Business, WSEI University, 20-209 Lublin, Poland

Sustainability, 2023, vol. 15, issue 12, 1-19

Abstract: The global reduction of carbon dioxide emissions is one of the critical priorities for implementing the Sustainable Development Goals by 2030 and the Paris Agreement 2015. Therefore, it stimulates and increases the ability of countries to implement green imperatives in policies to force the anthropogenic environment, reduce use of fossil fuels, and simultaneously develop alternative energy. Thus, it is crucial to understand the impact of renewable energy development on the dynamic of CO 2 pollution. Countries can increase or decrease the development of renewable energy depending on the effectiveness of its impact on the level of CO 2 pollution. This paper aims to analyze the influence of the growth dynamics of renewable energy production in countries on CO 2 emissions. The article uses Ward’s method to test the research hypothesis. Empirical results allowed us to conclude the interdependence of renewable energy production and CO 2 emissions. The results indicate a strong relationship between the level of renewable energy production and carbon emissions in countries. For the global development of renewable energy technologies, governments must understand their impact on changing the scale of environmental pollution and expand the awareness of state leadership, the business sector, and society.

Keywords: energy efficiency; clean energy technology; renewable energy; energy consumption; CO 2 emissions (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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