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Global perspective of sustainable development: The role of mineral resources, technological advancement and renewable investments

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  • Sun, Yihan
  • Wu, Yizhen
  • Lin, Shiwei

Abstract

Global economies aim for economic expansion through natural resource utilization, yet resource extraction and consumption are directly linked to global warming and environmental degradation. While efforts to address climate change and global warming are underway, there remains a lack of understanding regarding the key drivers of environmental degradation at a global level. This study explores the drivers of global carbon emissions from 1990 to 2021. The data was found to be stationary at the first difference using various diagnostic tests, and cointegration tests confirmed a long-run equilibrium relationship between the variables. Employing the Method of Moment Quantile Regression, the study reveals heterogeneous influences of different natural resource components on environmental quality. Forest rents and oil rents positively impact carbon emissions, while natural gas rents reduce emissions. Economic and population growth contribute significantly to carbon emissions, while technological innovation and renewable consumption have adverse effects. The results are robust, and verified through parametric and non-parametric econometric tools, leading to relevant policy implications such as enhancing technological innovation and renewables investment.

Suggested Citation

  • Sun, Yihan & Wu, Yizhen & Lin, Shiwei, 2024. "Global perspective of sustainable development: The role of mineral resources, technological advancement and renewable investments," Resources Policy, Elsevier, vol. 90(C).
    • Handle: RePEc:eee:jrpoli:v:90:y:2024:i:c:s0301420724000072
    DOI: 10.1016/j.resourpol.2024.104640
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