Carbon Footprints and Economic Growth: A Study of The Philippines Co2 Emissions
Keywords:
CO2 Emissions, Economic Growth, Household, Transportation, Industry, AgricultureAbstract
CO2 emissions in every country are a known problem, especially in developing countries in South East Asia. The Philippines is considered to be one of the major contributors to CO2 and the economic growth of the country is affected because of the CO2 and greenhouse gases. This study aims to determine how much CO2 emissions can affect the economic growth of the country in terms of the CO2 emissions from the household, transportation, industry, and agriculture. The data used in this study were sourced from the World Bank – World Development Indicators from the year 1971-2014. The study used the Ordinary Least Square (OLS) in determining which factors have a significant effect on CO2 emissions in the Philippines. Results have shown that manufacturing, agriculture, and transportation have a significant effect on CO2 emissions in the Philippines. These determinants have p-values lower than the 5% significance level. New policy and preventive measures on CO2 can help lessen the CO2 emissions as well as governments' help and suggestion. The study suggests for the decrease of material usage that emits greenhouse gases (GHG), lessening the factors that emit CO2, and conducting further research on how to greatly mitigate carbon footprints
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