2024 : 10 : 15
Kaveh Derakhshani Darabi

Kaveh Derakhshani Darabi

Academic rank: Assistant Professor
ORCID: https://orcid.org/0000-0002-7069-762X
Education: PhD.
ScopusId:
HIndex:
Faculty: Economic and Administrative Sciences
Address: Arak University
Phone: 08632629340

Research

Title
CO2 Emissions Mitigation in ASEAN Countries: The Role of Renewable Energy Use and Financial Development
Type
JournalPaper
Keywords
Renewable energy; Fossil fuel; Carbon emissions; Panel vector autoregressive (PVAR); Causality relationship; ASEAN members.
Year
2024
Journal Journal of Asian Energy Studies
DOI
Researchers Saeed Solaymani ، Ali Falahati ، Kaveh Derakhshani Darabi ، Hossein KAVIAR

Abstract

The nations comprising the Association of Southeast Asian Nations (ASEAN) face a pressing need to enhance environmental sustainability, given their substantial reliance on fossil fuels, contributing to 5.2% of global CO2 emissions. Thus, understanding the pivotal role of renewable energy in this context is paramount. This research employs a panel vector autoregression method to analyze the interplay of financial development, renewable energy, and CO2 emissions across ASEAN nations from 1990 to 2020. Findings reveal that while renewable energy consumption shows an insignificant impact on carbon emissions, financial development, and economic growth significantly and positively influence emissions. Conversely, labor exhibits a notable negative correlation with CO2 emissions. Moreover, a bidirectional relationship exists between financial development and economic growth, as well as between labor and GDP. Additionally, unidirectional links are observed from capital formation to CO2 emissions, from renewable energy utilization to fossil fuel dependency, and from renewable energy usage to capital formation. These outcomes underscore the inadequacy of current financial systems in fostering environmental sustainability, highlighting the urgent need for integrating environmental considerations into their operations.