Green technology, exports, and CO2 emissions in Malaysia

The pressing global effort to tackle CO2 emissions has brought about a strong emphasis on adopting green technology by economies striving for low-carbon development. Within this context, this research investigates the environmental significance of green technology and exports in Malaysia. By examini...

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Published in:Heliyon
Main Author: Majekodunmi T.B.; Shaari M.S.; Abidin N.Z.; Ridzuan A.R.
Format: Article
Language:English
Published: Elsevier Ltd 2023
Online Access:https://www.scopus.com/inward/record.uri?eid=2-s2.0-85165938452&doi=10.1016%2fj.heliyon.2023.e18625&partnerID=40&md5=51483616e5b3222974db92433b0c3483
id 2-s2.0-85165938452
spelling 2-s2.0-85165938452
Majekodunmi T.B.; Shaari M.S.; Abidin N.Z.; Ridzuan A.R.
Green technology, exports, and CO2 emissions in Malaysia
2023
Heliyon
9
8
10.1016/j.heliyon.2023.e18625
https://www.scopus.com/inward/record.uri?eid=2-s2.0-85165938452&doi=10.1016%2fj.heliyon.2023.e18625&partnerID=40&md5=51483616e5b3222974db92433b0c3483
The pressing global effort to tackle CO2 emissions has brought about a strong emphasis on adopting green technology by economies striving for low-carbon development. Within this context, this research investigates the environmental significance of green technology and exports in Malaysia. By examining 30-year data from 1989 to 2019 and utilising the autoregressive distributed lag model (ARDL), this study explores these variables' long-run and short-run effects on Malaysia's environment. The outcomes reveal noteworthy insights: population growth and green technology negatively impact environmental degradation, whereas exports and economic expansion contribute to environmental depletion over the long term. However, the influences of a higher population and exports are inconsequential in the short term. Additionally, the study captures the influences of transient economic challenges, such as the COVID-19 outbreak. Consequently, the study emphasises crucial policy implications for the Malaysian government. Firstly, it strongly recommends increasing investment in sustainable technology, especially within the manufacturing sector, to mitigate the adverse environmental impact of exports. Furthermore, it suggests incentivizing companies to embrace green technology through subsidies for acquiring renewable energy and imposing higher taxes on non-renewable energy sources. Additionally, policymakers are urged to prioritise human capital development by raising public awareness about the dangers of heightened CO2 emissions. Malaysia can leverage its expertise to foster economic expansion without compromising the environment by engaging the working population in environmentally sustainable economic activities. These policy recommendations aim to expedite the shift towards a decarbonised economy, promote sustainable development, and safeguard Malaysia's natural resources. © 2023
Elsevier Ltd
24058440
English
Article
All Open Access; Gold Open Access
author Majekodunmi T.B.; Shaari M.S.; Abidin N.Z.; Ridzuan A.R.
spellingShingle Majekodunmi T.B.; Shaari M.S.; Abidin N.Z.; Ridzuan A.R.
Green technology, exports, and CO2 emissions in Malaysia
author_facet Majekodunmi T.B.; Shaari M.S.; Abidin N.Z.; Ridzuan A.R.
author_sort Majekodunmi T.B.; Shaari M.S.; Abidin N.Z.; Ridzuan A.R.
title Green technology, exports, and CO2 emissions in Malaysia
title_short Green technology, exports, and CO2 emissions in Malaysia
title_full Green technology, exports, and CO2 emissions in Malaysia
title_fullStr Green technology, exports, and CO2 emissions in Malaysia
title_full_unstemmed Green technology, exports, and CO2 emissions in Malaysia
title_sort Green technology, exports, and CO2 emissions in Malaysia
publishDate 2023
container_title Heliyon
container_volume 9
container_issue 8
doi_str_mv 10.1016/j.heliyon.2023.e18625
url https://www.scopus.com/inward/record.uri?eid=2-s2.0-85165938452&doi=10.1016%2fj.heliyon.2023.e18625&partnerID=40&md5=51483616e5b3222974db92433b0c3483
description The pressing global effort to tackle CO2 emissions has brought about a strong emphasis on adopting green technology by economies striving for low-carbon development. Within this context, this research investigates the environmental significance of green technology and exports in Malaysia. By examining 30-year data from 1989 to 2019 and utilising the autoregressive distributed lag model (ARDL), this study explores these variables' long-run and short-run effects on Malaysia's environment. The outcomes reveal noteworthy insights: population growth and green technology negatively impact environmental degradation, whereas exports and economic expansion contribute to environmental depletion over the long term. However, the influences of a higher population and exports are inconsequential in the short term. Additionally, the study captures the influences of transient economic challenges, such as the COVID-19 outbreak. Consequently, the study emphasises crucial policy implications for the Malaysian government. Firstly, it strongly recommends increasing investment in sustainable technology, especially within the manufacturing sector, to mitigate the adverse environmental impact of exports. Furthermore, it suggests incentivizing companies to embrace green technology through subsidies for acquiring renewable energy and imposing higher taxes on non-renewable energy sources. Additionally, policymakers are urged to prioritise human capital development by raising public awareness about the dangers of heightened CO2 emissions. Malaysia can leverage its expertise to foster economic expansion without compromising the environment by engaging the working population in environmentally sustainable economic activities. These policy recommendations aim to expedite the shift towards a decarbonised economy, promote sustainable development, and safeguard Malaysia's natural resources. © 2023
publisher Elsevier Ltd
issn 24058440
language English
format Article
accesstype All Open Access; Gold Open Access
record_format scopus
collection Scopus
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