Assessing the Environmental Sustainability Corridor: Carbon Emissions in Relation to Gold Price, Economic Growth, Foreign Direct Investment, and Renewable Energy Consumption
The growing concerns about global warming and its perceived influence on economic sustainability require a reassessment of the environmental consequences of gold mining, with a special focus on BRICS countries: Brazil, Russia, India, China, and South Africa. This paper examines the environmental sus...
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MDPI AG
2024-11-01
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| author | Mehdi Seraj Ayantayo Rukayat Olaide |
| author_facet | Mehdi Seraj Ayantayo Rukayat Olaide |
| author_sort | Mehdi Seraj |
| collection | DOAJ |
| description | The growing concerns about global warming and its perceived influence on economic sustainability require a reassessment of the environmental consequences of gold mining, with a special focus on BRICS countries: Brazil, Russia, India, China, and South Africa. This paper examines the environmental sustainability corridor, carbon emission, gold price, economic growth, foreign direct investment (FDI), and renewable energy use between 1989 and 2020. The long-run association among the variables is checked by us through the PMG technique. Our findings indicate that while the gold price, FDI, and renewable energy use decrease carbon emission, economic growth adds to the increase in carbon emissions in the long run. These findings bring out the dual challenge of promoting economic growth while managing environmental impact. The study underlines how policymakers need to provide regulatory frameworks which will encourage renewable energy and responsible foreign investment, as a means of trying to mitigate the environmental impacts of gold mining and achieve sustainable development. Our research adds to the continuing debate about how economic expansion can be balanced with environmental preservation for resource-rich countries. |
| format | Article |
| id | doaj-art-ccc088d0aeac4fc0a485a6a742d23e6f |
| institution | Kabale University |
| issn | 2305-6703 |
| language | English |
| publishDate | 2024-11-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Standards |
| spelling | doaj-art-ccc088d0aeac4fc0a485a6a742d23e6f2024-12-27T14:54:39ZengMDPI AGStandards2305-67032024-11-014424726110.3390/standards4040012Assessing the Environmental Sustainability Corridor: Carbon Emissions in Relation to Gold Price, Economic Growth, Foreign Direct Investment, and Renewable Energy ConsumptionMehdi Seraj0Ayantayo Rukayat Olaide1Department of Economics, Near East University, Nicosia 99138, CyprusDepartment of Economics, Near East University, Nicosia 99138, CyprusThe growing concerns about global warming and its perceived influence on economic sustainability require a reassessment of the environmental consequences of gold mining, with a special focus on BRICS countries: Brazil, Russia, India, China, and South Africa. This paper examines the environmental sustainability corridor, carbon emission, gold price, economic growth, foreign direct investment (FDI), and renewable energy use between 1989 and 2020. The long-run association among the variables is checked by us through the PMG technique. Our findings indicate that while the gold price, FDI, and renewable energy use decrease carbon emission, economic growth adds to the increase in carbon emissions in the long run. These findings bring out the dual challenge of promoting economic growth while managing environmental impact. The study underlines how policymakers need to provide regulatory frameworks which will encourage renewable energy and responsible foreign investment, as a means of trying to mitigate the environmental impacts of gold mining and achieve sustainable development. Our research adds to the continuing debate about how economic expansion can be balanced with environmental preservation for resource-rich countries.https://www.mdpi.com/2305-6703/4/4/12carbon emissioneconomic growthgold pricerenewable energyforeign direct investment |
| spellingShingle | Mehdi Seraj Ayantayo Rukayat Olaide Assessing the Environmental Sustainability Corridor: Carbon Emissions in Relation to Gold Price, Economic Growth, Foreign Direct Investment, and Renewable Energy Consumption Standards carbon emission economic growth gold price renewable energy foreign direct investment |
| title | Assessing the Environmental Sustainability Corridor: Carbon Emissions in Relation to Gold Price, Economic Growth, Foreign Direct Investment, and Renewable Energy Consumption |
| title_full | Assessing the Environmental Sustainability Corridor: Carbon Emissions in Relation to Gold Price, Economic Growth, Foreign Direct Investment, and Renewable Energy Consumption |
| title_fullStr | Assessing the Environmental Sustainability Corridor: Carbon Emissions in Relation to Gold Price, Economic Growth, Foreign Direct Investment, and Renewable Energy Consumption |
| title_full_unstemmed | Assessing the Environmental Sustainability Corridor: Carbon Emissions in Relation to Gold Price, Economic Growth, Foreign Direct Investment, and Renewable Energy Consumption |
| title_short | Assessing the Environmental Sustainability Corridor: Carbon Emissions in Relation to Gold Price, Economic Growth, Foreign Direct Investment, and Renewable Energy Consumption |
| title_sort | assessing the environmental sustainability corridor carbon emissions in relation to gold price economic growth foreign direct investment and renewable energy consumption |
| topic | carbon emission economic growth gold price renewable energy foreign direct investment |
| url | https://www.mdpi.com/2305-6703/4/4/12 |
| work_keys_str_mv | AT mehdiseraj assessingtheenvironmentalsustainabilitycorridorcarbonemissionsinrelationtogoldpriceeconomicgrowthforeigndirectinvestmentandrenewableenergyconsumption AT ayantayorukayatolaide assessingtheenvironmentalsustainabilitycorridorcarbonemissionsinrelationtogoldpriceeconomicgrowthforeigndirectinvestmentandrenewableenergyconsumption |