How economic development influences the environment
The scientific journal Environmental Science and Pollution Research published a paper by the international postdoc of the Institute Nurсan Ata Kilinch in collaboration with the Deputy Director of the Center for Sustainable Development, PhD Vladimir Likhachev.
This paper discovers the links between CO2 emissions and their key determinants such as economic growth, energy consumption, population, trade openness, and financial development including the period from 1990-2020 to test the Environmental Kuznets Curve (EKC) Hypothesis by using ARDL bound test for the Russian Federation.
Results reveal that energy consumption, and population have a positive impact on CO2 emissions, while economic growth, financial development, and trade openness has been found to decrease CO2 emissions in the long term. The results of the paper show that there is a "U" shaped relationship between CO2 emissions and economic growth in the Russian Federation. This shows that EKC is valid up to a certain income level in the Russian Federation and when this income level is exceeded, a positive relationship will begin between economic growth and environmental degradation.
As a policy implementation, policy makers must implement clean energy technology policies to achieve the 2060 net zero carbon target. Policies such as fossil-based energy use and reducing energy intensity should be adopted.
The paper is available at the link