From growth to green: exploring the impact of green economic indicators on carbon emission multiplier in G20 countries
摘要
Climate change remains a critical global issue, with G20 nations playing a central role in driving both emissions and solutions. This study explores the influence of two key green drivers, renewable electricity adoption and low-carbon technology trade, on the carbon emission multiplier across G20 economies, while controlling for broader innovation capacity and specialization in environmental technologies. We employ the panel ARDL model to analyze both long- and short-run dynamics using annual data from 1995 to 2018. In addition, the Fb Prophet method is used to forecast carbon emission multiplier trajectories for each country up to 2070. The key findings of the study are as follows: (1) panel cointegration tests confirm a long-term relationship among the chosen variables; (2) renewable electricity, green trade, and environmental technology significantly reduce the carbon emission multiplier over time, while relative advantages in environmental practices tend to increase it; and (3) the Fb Prophet forecasting indicates that there is variation among countries in the timing and magnitude of decarbonization efforts. Based on these findings, this research provides key insights into the varying progress and challenges faced by G20 members in aligning with the goals of the Paris Agreement and suggests guidance for designing effective green policies.