From black to green: Quantifying the impact of economic growth, resource management, and green technologies on CO2 emissions.

In an exploration of environmental concerns, this groundbreaking research delves into the relationship between GDP per capita, coal rents, forest rents, mineral rents, oil rents, natural gas rents, fossil fuels, renewables, environmental tax and environment-related technologies on CO 2 emissions in 30 highly emitting countries from 1995 to 2021 using instrumental-variables regression Two-Stage least squares (IV-2SLS) regression and two-step system generalized method of moments (GMM) estimates. Our results indicate a significant positive relationship between economic growth and CO 2 emissions across all quantiles, showcasing an EKC with diminishing marginal effects. Coal rents exhibit a statistically significant negative relationship with emissions, particularly in higher quantiles, and mineral rents show a negative association with CO 2 emissions in lower and middle quantiles, reinforcing the idea of resource management in emissions reduction. Fossil fuels exert a considerable adverse impact on emissions, with a rising effect in progressive quantiles. Conversely, renewable energy significantly curtails CO 2 emissions, with higher impacts in lower quantiles. Environmental tax also mitigates CO 2 emissions. Environment-related technologies play a pivotal role in emission reduction, particularly in lower and middle quantiles, emphasizing the need for innovative solutions. These findings provide valuable insights for policymakers, highlighting the importance of tailoring interventions to different emission levels and leveraging diverse strategies for sustainable development. [Display omitted] • Analyzes CO2 drivers in 30 highly emitting countries from 1995 to 2021. • We consider Method of Moments Quantile Regression (MMQR) to investigate the relationship. • We validated the EKC hypothesis in these countries. • A negative association between mineral rents and CO2 emissions in lower and middle quantiles. • Fossil fuels escalate emissions, intensifying in progressive quantiles. • Renewable energy significantly reduces CO2, particularly in lower quantiles. • Top of form. • Environment-related technologies reduces emissions in lower and middle quantiles. [ABSTRACT FROM AUTHOR]