Are Biofuels Environmentally Sustainable? Evidence from Augmented Panel ARDL Approach
摘要
The purpose of this study is to examine the impact of bioenergy on \({CO}_{2}\) emissions across the highly bioenergy-consuming countries during 2000–2020. While acknowledging the role of The study also brings out the role of bioenergy in realising sustainable development goals. bioenergy, we estimated the transmitted effects of bioenergy on \({CO}_{2}\) emissions through an augmented fixed effect panel data setting. The empirical model is enhanced to account for potential heterogeneity and endogeneity among the nations to get robust estimates. The findings indicate that bioenergy and renewable energy are effective in decreasing carbon emissions and may serve as an alternate strategy for alleviating overall environmental degradation. The correlation between energy use and economic growth is resulting in a substantial rise in carbon emissions. Nonetheless, we assert that the bioenergy industry must undergo certain essential technical and organisational reforms. The study enhances this field of research by examining the relationship between \({CO}_{2}\) emissions, economic growth, and bioenergy use in a through manner to elucidate the real nature of the nexus.