In the past decades, carbon dioxide (CO2) emissions have become an important issue for many researchers and policy makers. The focus of scientists and experts in the area is mainly on lowering the CO2 emission levels. In this article, panel data is analyzed with an econometric model, to estimate the impact of renewable energy, biofuels, bioenergy efficiency, population, and urbanization level on CO2 emissions in European Union (EU) countries. Our results underline the fact that urbanization level has a negative impact on increasing CO2 emissions, while biofuels, bioenergy production, and renewable energy consumption have positive and direct impacts on reducing CO2 emissions. Moreover, population growth and urbanization level are negatively correlated with CO2 emission levels. The authors’ findings suggest that the public policies at the national level must encourage the consumption of renewable energy and biofuels in the EU, while population and urbanization level should come along with more restrictions on CO2 emissions.
The impact of government subsidies and enterprises’ R&D investment: A panel data study from renewable energy in China