Green growth in Africa: The role of renewable energy, biocapacity, government policies, and R&D on CO2 emissions reductions.

Africa's abundant natural resources and renewable energy potential offer long-term prosperity, but the continent is still challenged with several hurdles in exploiting these resources efficiently. This study examines the prospect for sustainable growth in Africa about the impacts of renewable energy, biocapacity, government policies, research and development (R&D), and population growth on CO2 emissions. By employing multiple advanced regression modeling techniques such as Dynamic Common Correlated Effects (DCCE), Common Correlated Effects Generalized (CCEG), and Bootstrap Quantile Regression (BSQR), the study analyzed the correlations between these variables using data from 19 African countries, spanning from 2000 to 2020. While the results showed renewable energy and bio-capacity to significantly reduce CO2 emissions in all countries, government policies and R&D expenditure show differentiated effects on CO2 emission across countries. Additionally, population growth was found to be a critical factor in exacerbating CO2 emissions in Africa. Observing the lack of connection between government policy and the taping of green potentials in Africa, the findings highlight the need for targeted government policies that can promote renewable energy infrastructure, protection of biocapacity through sustainable land use practices, and increased support of R&D on green technologies.