Attainment of Zero Emission Targets by Transition Towards sustainable development of value of creative products

Abstract

Wind, hydropower, solar, and other renewable energy (RE) replace conventional energy sources when the global green and low-carbon transition is broadly considered. Therefore, the current study investigates the core determinants of renewable energy development (RED) in China from 1990 to 2020: carbon emissions efficiency (CEE), green finance (GF), urbanization (URB), openness (Op), and gross domestic product (GDP). However, advanced econometric techniques are used to investigate the desired objectives, such as an interactive fixed effects panel test, threshold panel regression, Pooled Mean Group, and Bootstrap Panel causality test. The research findings shows a negative association of CEE with renewable energy development. According to these findings, which are in line with the optimization method, it seems that RED is doing an outstanding job of reaching carbon neutrality. However, there found an increase in RED via green finance and economic growth over time. Also, a negative relationship exists between urbanization and openness with energy development. In comparison, zero-emission competition is expected to reshape the globe’s demographics.