Examining the Relationship of Renewable Energy Use, Urbanization, and Industrialization in Shaping Carbon Emissions in South Asia

Abstract

This research investigates the dynamic impact of various factors including economic growth, the expansion of renewable energy sources, urbanization, industrialization, tourism, agriculture, and forestry on carbon dioxide (CO2) emissions in Pakistan, India, and Bangladesh from 1980-2022. The research centers on the three most populous nations of the three countries. To quantify the correlation between emissions and the myriad of distinct categories of drivers, national time series data annually are utilized. To ascertain the immediate and enduring consequences of emissions fluctuations, DOLS methods are used for data analysis. The results indicate that increasing levels of energy consumption, GDP per capita, tourism arrivals, agricultural activities, and industrialization are all significant long-term contributors to rising CO2 emissions in each of the three countries. However, there is some evidence that implementing sustainable agricultural practices, expanding forest cover, and increasing the output of renewable energy sources could potentially serve as mitigating factors. Based on the study's results, to reconcile the pursuit of development objectives with emission reduction, it is recommended that economic growth strategies prioritize low-carbon sectors, accelerate the adoption of renewable energy sources, promote sustainable agricultural and tourism practices, and foster regional collaboration. Integrated planning for inclusive, environmentally friendly, and sustainable growth trajectories can be enhanced by incorporating comprehensive understandings of the interplay among interconnected factors that impact emission patterns. Customized development trajectories ought to be established for Pakistan, India, and Bangladesh.