The Impact of COVID-19 Outbreak on CO2 Emissions in the Ten Countries with the Highest Carbon Dioxide Emissions

Abstract

The environmental pollution during the COVID-19 crisis has declined dramatically due to quarantines that have severely reduced transport and industry but has had little effect on the steady rise in CO2 concentrations in the atmosphere. Through the Paris Agreement, countries are working to reduce the emissions of these pollutants, for example, by burning fossil fuels. These greenhouse gases trap heat near the earth’s surface and raise the temperature. This global warming threatens global food resources. In times of corona crisis and environmental pollution, especially in countries with the highest CO2 emissions, governance is a key factor that explains the poor economic, social, and environmental performance of many countries. Governance plays an important role in controlling these crises. In this study, the World Bank’s governance indicators have been used to examine the relationship between governance and economic performance and its impact on CO2 emissions during the COVID-19 outbreak period. Also, the Tobit panel model with a limited-dependent model from 2011 to 2020 has been used. Several economic factors and governance variables are also considered. Given the negative relationship between governance and CO2 emissions during the COVID-19 outbreak, the role of governance in reducing environmental pollution is emphasized, and it is shown that policymakers can take appropriate measures by implementing good governance and enforcing the right laws to control the corona epidemic and also reduce carbon emissions in the long run.