Does Globalization Affect the Environment? The relationship between Energy Consumption, Carbon Dioxide Emission, and Economic Growth

Abstract

Global warming and environmental degradation have recently been a most important confront for the countries. Ever-increasing CO2 emissions and more greenhouse gas emissions have formed wide-ranging ecological influences. Such influences have caused for unpredicted transforms in climate settings, improved earth temperatures. Taking into consideration the importance of these variables, we have investigated how globalization, education, economic growth, energy consumption, and urban population affect environmental degradation in developing economies. We used data from 1996 to 2023. We used the panel ARDL technique here. The results highlighted the positive association between globalization and ecological degradation in the long-run. Results show that economic growth and energy consumption have enhanced CO2 emissions in the long-run. However, education reduced environmental degradation in developing economies.  The short-run result showed that education increased environmental degradation. However, economic growth leads to an increase in CO2 emissions in developing countries. The study suggests that reducing CO2 emissions through decreased globalization often involves "re-globalization” policies, including targeted trade restrictions, strengthening local labor markets, and promoting domestic production. Government generation, transportation, and industrial heating with renewable sources like solar, wind, and hydropower. More educational facilities and more employment opportunities should be provided to the people. Clean energy would reduce emissions by replacing fossil fuels (coal, oil, and gas) in electricity.