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Balancing Growth and Green Goals: Unravelling Greenhouse Gas Drivers in SAARC Economies
Muhammad Waseem, Naila Gul, Samina Saghir, Kanwal Zahid
Abstract:
The present study explores the key drivers of Greenhouse Gas Emissions (GHG) in SAARC region. For this purpose, the study used panel data of 35 years from 1990 to 2024 and employed the Pooled Mean Group (PMG) ARDL method. Several factors are responsible for global warming and climate change, but the present study incorporated some major factors such as industrialization, foreign direct investment, economic growth, renewable energy, and non-renewable energy etc. Findings revealed that industrialization, FDI, economic growth, and fossil fuel-based energy contributed positively while renewable energy contributed negatively towards Greenhouse Gas Emissions (GHG) in SAARC economies. The analysis also validated the Environmental Kuznets Curve (EKC) hypothesis for these countries. The study concluded with the policy suggestion to encourage renewable energy projects like hydro, wind, solar, biomass, etc. to ensure a clean, eco-friendly environment for the safety of humans, animals, plants, and the planet that protects nature, reduces pollution, and promotes sustainability.
Keywords:
Greenhouse Gas Emissions (GHG); Environmental Kuznets Curve (EKC); Pooled Mean Group (PMG) ARDL; Panel Data; SAARC Region
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