The effect of CO2 emissions, renewable energy consumption on GDP per Capita in G20 member regions in 2010-2023

Department of Economics, Universitas Muhammadiyah Yogyakarta, Bantul, Daerah Istimewa Yogyakarta, 55183, Indonesia.

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Abstract

This research analyzes the relationship between CO₂ emissions, renewable energy consumption, and economic growth (GDP per capita) in G20 countries during the period 2010 to 2023. Using panel data and linear regression models, the results show that CO₂ emissions have and do not have an influence for developed countries, while renewable energy consumption is not significant for both developed and developing countries. These findings support the need for a clean energy transition to achieve sustainable growth. This study provides policy recommendations to reduce dependence on fossil energy and accelerate the adoption of renewable energy in the G20 region.