The Significance of Energy Factors, Green Economic Indicators, Blue Economic Aspects towards Carbon Intensity: A Study of Saudi Vision 2030

Abstract

The current study explores the nexus between energy factors, blue factors, green factors, and carbon intensity in Saudi Arabia. The non-linear ARDL technique is applied to data from 1991 to 2020. The results suggest that the overall impact of energy factors on carbon emission is insignificant, except the adverse shocks in energy intensity, which increase carbon intensity in the long run. Green factors are also irrelevant for carbon emissions in the post-Vision 2030 period. Nevertheless, blue factors are significant for minimizing carbon intensity for post-Vision 2030. Policymakers should invest in efforts to concentrate on energy and blue factors. Investment in the renewable energy and marine sectors is also essential to cater to carbon-related environmental issues.