Climate change mitigation dynamics in EU countries: An empirical analysis of environmental and macroeconomic factors

Authors : Büşra Ağan

Pages : 401-415

Doi:10.30855/gjeb.2024.10.3.006

View : 51 | Download : 93

Publication Date : 2024-10-30

Article Type : Research Paper

Abstract :Effective environmental policies and an understanding of macroeconomic impacts on climate change mitigation are vital for achieving the sustainable development goals of the European Union countries. This paper aims to investigate the role of Environmental Policy Stringency (EPS) in climate change mitigation in EU countries from 2000 to 2021. This study employs the panel quantile regression model to investigate the potential role of environmental policy, economic growth, trade openness, foreign direct investments, and CO2 emissions on climate change mitigation at the 10th, 25th, 50th, and 75th, 90th percentiles. The findings indicate that environmental policy stringency, GDP per capita, and CO2 emissions have a positive effect on climate change mitigation at higher quantiles, while trade openness has a negative impact at all quantiles. Furthermore, the results provide a bidirectional causality between climate change mitigation and EPS. These findings emphasize the need for policymakers to carefully evaluate and integrate environmental policy stringency with economic, trade, and investment strategies to develop a comprehensive and effective approach to climate change mitigation.
Keywords : İklim değişikliğinin azaltılması, Çevre politikasının sıkılığı, Sürdürülebilir kalkınma, Panel kantil regresyonu