A team of researchers, including contributors from Near East University, has conducted an insightful study on Vietnam’s environmental sustainability, focusing on the impacts of economic globalisation, renewable energy, and natural resource use. This research is crucial in the context of promoting sustainable energy, economic growth, and climate action.

Analyzing data from 1984 to 2019, the study employed the dynamic autoregressive distributed lag (DyARDL) approach and spectral Granger-causality test to assess how these factors influence CO2 emissions in Vietnam. The findings indicate that while economic globalisation and economic growth have led to environmental deterioration, renewable energy usage significantly mitigates CO2 emissions. This highlights the complex interplay between economic development and environmental sustainability.

One of the key outcomes is that the increase in renewable energy use is directly linked to a reduction in CO2 emissions. Consequently, the study recommends that the Vietnamese government invest in new and eco-friendly industrial technologies. Emphasizing sustainable and technology-intensive industries over traditional capital-intensive ones could substantially benefit environmental quality.

The study also suggests implementing strong policies to mitigate the adverse effects of economic globalisation, such as imposing taxes on environmentally harmful sectors and encouraging the adoption of clean technologies. Additionally, addressing the globalisation of e-waste through dumping levies and carbon pricing could help reduce environmental and health risks.

Policymakers in Vietnam are encouraged to create and diversify renewable energy sources, tailored to the country’s climatic and geographical characteristics. Incentives for renewable energy, along with taxes on fossil fuels, can significantly enhance the renewable energy mix.

The spectral Granger-causality test results reveal a bidirectional causal interaction between economic globalisation and CO2 emissions, suggesting the need for policies focused on green energy initiatives. The government must also consider restructuring Vietnam’s energy framework to reduce production deficits and CO2 emissions by promoting new energy-efficient technologies.

In conclusion, the study co-authored by researchers from Near East University provides valuable policy implications for Vietnam in its journey towards environmental sustainability. It underscores the importance of balancing economic growth with sustainable energy practices and highlights the crucial role of renewable energy in reducing CO2 emissions, contributing to the global agenda for sustainable development.

For further details, access the original paper from the publisher’s link:

https://link.springer.com/article/10.1007/s11356-023-27683-x