The combustion of fossil fuels associated with energy production and transportation remains a major contributor to global environmental degradation. In India, rapid urbanization and economic growth have significantly increased transport-sector CO2 emissions due to the rising demand for transportation services. Therefore, this study investigates the impact of public private partnership investment (PPPI), environmental-related technology, renewable energy, and economic policy uncertainty on transport-sector CO2 emissions in India from 2003Q1-2021Q4. The study employs the ARDL bounds testing approach, FMOLS estimation, and VECM Granger causality analysis to examine long-run and causal relationships among the variables. The empirical findings confirm the existence of a long-run relationship among the variables. The results reveal that PPPI and economic policy uncertainty increase transport-sector CO2 emissions, whereas renewable energy reduces emissions. Environmental-related technology shows a negative but statistically insignificant impact on CO2 emissions. Furthermore, the VECM Granger-causality results indicate both short- and long-run causal relationships among the variables. The findings emphasize the need for sustainable PPP investment policies, renewable energy adoption, and stable environmental policies to support sustainable transport development in India.
Kolati et al. (Wed,) studied this question.
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