The Digital Economy Promote or Restrain Low-Carbon Equitable Growth

Peter Jaskiewicz^*
*Correspondence: Peter Jaskiewicz, Department of Management, University of Ottawa, 55 Laurier Ave E, Ottawa, ON, K1N 6N5, Canada, Email:

Introduction

Climate change has led to an increase in global awareness of the need to cut down on carbon emissions. Low-carbon development has been taken into account by governments when developing national economic and energy strategies. According to data from the World Energy Statistical Yearbook (70^th edition), global carbon dioxide emissions have been steadily rising since 2013. Global carbon emissions are expected to rise by 30% between 2010 and 2030. Economists all over the world have paid more attention to carbon emissions as a result. For instance, investigated how Sweden's use of renewable energy and trade openness affect carbon emissions in different ways. They discovered that renewable energy and trade openness have varying effects on carbon dioxide emissions [1,2].

Description

However, economic expansion has a negative impact on carbon dioxide emissions in the majority of quantiles. Rjoub looked into the connection between carbon emissions, life expectancy, and economic growth in Turkey from the perspectives of energy consumption, human health, and threats to the environment. According to Odhiambo's research on the connection between carbon emissions and economic expansion in South Africa, energy consumption has a positive effect on encouraging carbon emissions and economic growth. Lee and Brahmas René used EU national data to investigate the long-term equilibrium link between tourism, carbon dioxide emissions, economic growth, and foreign direct investment. They discovered that tourism, carbon dioxide emissions, and foreign direct investment all had a strong positive correlation with economic development. Additionally, tourism and foreign direct investment reduced carbon dioxide emissions.

China is the world's largest consumer of resources, but it hasn't completely eliminated its significant reliance on the environment and energy. After reform and opening up, China's economy has been growing for 40 years, creating a "Chinese miracle" in economic growth history. However, the rapid expansion of the economy has increased greenhouse gas emissions and energy consumption, making environmental issues even more pressing and unavoidable. Emissions of all major pollutants have been steadily exceeding the environment's carrying capacity, and issues like rising carbon emissions have emerged as the primary obstacles to low-carbon sustainable development.

The rise of the digital technology revolution presents opportunities and challenges previously unheard of for our nation's economic development. China's economy is undergoing a gradual shift from a crude model of speed and quantity to a connotative model of low-carbon sustainable development at the present time. In the new era, crucial first steps toward achieving sustainable economic growth will be accelerating the change in the economic development model and encouraging the deep integration of the real economy and the digital economy. Academics, the general public, and the government have all voiced concerns regarding low-carbon development. As a result, the government must decide quickly whether to maintain low-carbon growth while taking into account development that is inclusive to all [3,4].

Based on the paradox of digitization and the pragmatic perspective of resource allocation, we investigate the singular effects of regional digital economy development on inclusive, low-carbon growth. Those are the two main areas of literature that this article is most closely related to. The first section of the literature examines the connection between energy consumption and the digital economy. The majority of studies support the idea that low-carbon, sustainable development requires the expansion of the digital economy, as demonstrated by the Internet, 5G, and blockchain.

Another body of literature discusses the connection between the digital economy and the green development movement. The primary conclusions can be divided into two groups. First and foremost, the growth of the digital economy, which relies primarily on data for production, has the potential to replace traditional ones, thereby enhancing industrial structure, reducing environmental pollution through technological advancement, and increasing public and governmental interest in environmental protection. For instance, Liu Pengcheng and Liu Jie came to the conclusion that industrialization, population agglomeration, and technological advancement all work together to successfully address the problem of urban environmental pollution [5].

Conclusion

The primary conclusions of this paper are as follows: The digital economy has an inverted U impact on regional inclusive, low-carbon growth. We discovered that while low-carbon, inclusive growth is supported by the digital economy, such growth would also be hindered by a digital economy that is too high. Statistics showed that 74.9 percent of China's surveyed locations are still in the early stages of development.

References

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