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Interconnection between the Dynamic of Growing Renewable Energy Production and the Level of CO 2 Emissions: A Multistage Approach for Modeling

Author

Listed:
  • Łukasz Skowron

    (Faculty of Management, Lublin University of Technology, 20-618 Lublin, Poland)

  • Olena Chygryn

    (Department of Marketing, Sumy State University, 40007 Sumy, Ukraine)

  • Marcin Gąsior

    (Faculty of Management, Lublin University of Technology, 20-618 Lublin, Poland)

  • Vitaliia Koibichuk

    (Economic Cybernetics Department, Sumy State University, 40007 Sumy, Ukraine)

  • Serhiy Lyeonov

    (Economic Cybernetics Department, Sumy State University, 40007 Sumy, Ukraine)

  • Serhii Drozd

    (Economic Cybernetics Department, Sumy State University, 40007 Sumy, Ukraine)

  • Oleksandr Dluhopolskyi

    (Faculty of Public Administration and Business, WSEI University, 20-209 Lublin, Poland
    Faculty of Economics and Management, West Ukrainian National University, 46027 Ternopil, Ukraine)

Abstract

The global reduction of carbon dioxide emissions is one of the critical priorities for implementing the Sustainable Development Goals by 2030 and the Paris Agreement 2015. Therefore, it stimulates and increases the ability of countries to implement green imperatives in policies to force the anthropogenic environment, reduce use of fossil fuels, and simultaneously develop alternative energy. Thus, it is crucial to understand the impact of renewable energy development on the dynamic of CO 2 pollution. Countries can increase or decrease the development of renewable energy depending on the effectiveness of its impact on the level of CO 2 pollution. This paper aims to analyze the influence of the growth dynamics of renewable energy production in countries on CO 2 emissions. The article uses Ward’s method to test the research hypothesis. Empirical results allowed us to conclude the interdependence of renewable energy production and CO 2 emissions. The results indicate a strong relationship between the level of renewable energy production and carbon emissions in countries. For the global development of renewable energy technologies, governments must understand their impact on changing the scale of environmental pollution and expand the awareness of state leadership, the business sector, and society.

Suggested Citation

  • Łukasz Skowron & Olena Chygryn & Marcin Gąsior & Vitaliia Koibichuk & Serhiy Lyeonov & Serhii Drozd & Oleksandr Dluhopolskyi, 2023. "Interconnection between the Dynamic of Growing Renewable Energy Production and the Level of CO 2 Emissions: A Multistage Approach for Modeling," Sustainability, MDPI, vol. 15(12), pages 1-19, June.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:12:p:9473-:d:1169799
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