Impact of belt and road initiative policy and interacting effect of renewable energy toward carbon neutrality.

The Belt and Road Initiative (BRI) represents a comprehensive developmental blueprint that has been deployed across numerous Asian, European, and African nations, aimed at fostering economic growth and enhanced regional connectivity. However, concerns have been raised about its potential impact on the environment, specifically in the context of carbon dioxide (CO) emissions. Employing non-parametric analytical techniques, this research undertakes an empirical investigation into the relationship between economic growth (GDP), renewable energy consumption (REC), and CO emissions within the context of BRI participant countries, spanning the years from 2000 to 2018. The findings of this study reveal that REC exerts a pronounced and statistically significant mitigating effect on CO emissions, implying that an increase in REC corresponds to a reduction in CO emissions. In contrast, trade openness (TRADE) exhibits a positive and statistically significant influence on CO emissions, signifying that greater trade openness is associated with heightened CO emissions. However, the observed effects of GDP, fixed telephone subscriptions (FTS), and mobile cellular subscriptions (MCS) on CO emissions remain inconclusive, as their impact lacks statistical significance. The effect estimates of covariates on CO emissions using various models reveal that REC and TRADE significantly affect CO emissions, while GDP, FTS, and MCS still yield uncertain results. The outcomes draw attention to the necessity of implementing policies that encourage the use of REC and reducing trade openness as an efficient way of neutralizing CO emissions. This research provides valuable insights into the impact of the BRI on CO emissions and emphasizes the importance of addressing the environmental implications of this initiative. Policymakers should carefully consider these findings and develop effective strategies to foster sustainable development.