INDUSTRIAL GROWTH, GHG EMISSIONS, AND THE MODERATING ROLE OF RENEWABLE ENERGY: A COMPARATIVE STUDY OF SOUTH ASIAN ECONOMIES

Abstract

This paper assesses the interlinkages between industrialization, GHG emissions, and RE consumption in four major developing economies. Industrial growth entails significant GHG emissions since there has been substantial high fossil fuel use. The EGLS model analysis reveals that industrial growth will lead to a substantial rise in emission levels, while the integration of renewable energy sources does not appear to mitigate these emissions effectively. The bottom line of the study is a clear message to policymakers: it is crucial to consider the gradual shift to renewable energy sources in the policy framework in order to ensure sustained economic growth while successfully countering environmental challenges.