Climate Change Mitigation Strategies: Evaluating the Effectiveness of Renewable Energy Policies in Urban Environments

Abubakar Shafiq, Mohammed Duhis, Aneela Kousar and Mugeesa Rubab
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Abubakar Shafiq: Faculty Member, Pakistan Audit & Accounts Academy, Lahore, Pakistan
Mohammed Duhis: MS Scholar, Faculty of Mechanical Engineering, University of Engineering and Technology, Lahore, Pakistan
Aneela Kousar: Islamia University of Bahawalpur, Pakistan
Mugeesa Rubab: Institute of southern Punjab, Pakistan

Bulletin of Business and Economics (BBE), 2024, vol. 13, issue 3, 345-353

Abstract: This study evaluates the effectiveness of renewable energy policies in reducing urban carbon emissions, with a focus on key policies such as subsidies, tax incentives, renewable portfolio standards (RPS), feed-in tariffs (FiTs), and carbon pricing. Using secondary data from global energy databases, the study applies a quantitative approach, including correlation analysis and regression modeling, to assess emissions across multiple urban centers. The results reveal strong correlations between higher energy prices and lower emissions, as well as between industrial output and higher emissions. Policies such as subsidies, tax incentives, RPS, and carbon pricing were significantly correlated with emissions reductions, while FiTs showed limited impact. Urban population growth did not exhibit a significant correlation with emissions reductions, underscoring the need for more comprehensive approaches that include industrial decarbonization and energy efficiency standards. The study highlights the importance of integrated policy frameworks to decouple economic growth from carbon emissions and recommends future research on sector-specific impacts, long-term policy effectiveness, and public engagement strategies.

Keywords: Renewable energy policies; Urban carbon emissions; Subsidies; Tax incentives; Carbon pricing; Renewable portfolio standards (RPS); Energy efficiency; Urban sustainability; Correlation analysis (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:rfh:bbejor:v:13:y:2024:i:3:p:345-353

DOI: 10.61506/

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