Impact of Environmental Degradation, Renewable Energy Consumption and Globalization on Green Growth: An Analysis from Asian Countries

Abstract

Nations of the world make effort to protect ecologically sustainability to enhance economic growth (GDPg). The improved green technology is obligatory to lessen environmental degradation (CO₂) and nurturing green growth. The existing research examines the factors influencing green growth (GRGDP) by utilising data from 1997 to 2024 in Asian countries. For this purpose, green growth index was used as dependent variable. Though, CO₂ emission, renewable energy use, globalization and gini index were used as independent variables. Data were drawn from nine Asian countries for the analysis. Regression result showed that CO₂ emission has decreased GRGDP in Asian countries. It is also found that energy usage and globalization have increased GRGDP in Asian countries. As a final point, income inequality (GINI) has affected negatively the green growth in Asian countries. On the basis of the outcomes, study suggests that CO₂ should be reduced by shifting to renewable energy use (RNEN), improving energy efficiency, and changing daily transportation and consumption habits. Globalization should also be increased by reducing trade barriers, advancing digital technologies, and improving global transport infrastructure. Finally, there is a need to increase RNEN in Asian economies.