Investigating factors influencing CO2 emissions in selected G20 countries

Abstract

This study aims at identifying the factors that influence CO2 emissions in some G20 countries. It examines various possibilities such as electricity consumption, foreign investments, fuel and metal exports, economic growth, population growth, renewable energy consumption, trade, urbanization, and even the effects of the global economic crisis of 2008. The results show that increased electricity consumption, economic growth, and population increase result in higher levels of CO2 emissions which demonstrates the environmental impact of industrialization and urbanization. Conversely, the use of renewable energy and foreign investment are correlated with lower emissions which proves that a shift towards cleaner energy and sustainable investments can be effective. The findings of the study also point towards the fact that the G20 countries need to shift towards the use of renewable energy, enhance energy efficiency, and encourage the development of sustainable urban environments. It provides a practical approach for the policymakers to follow for emission reduction along with promoting economic growth in a sustainable manner.