The Impact of the Digital Economy on Achieving Low-carbon, Inclusive Growth

Grigori Kiewicz^*
*Correspondence: Grigori Kiewicz, Department Management, University of Ottawa, Ottawa, Canada, Email:

Introduction

In light of the heightened global awareness of climate change, governments around the world have recognized the importance of integrating low-carbon strategies into their national economic and energy policies. This shift in focus has led economists to closely examine the intricate interplay between economic growth, energy consumption, carbon emissions and related factors such as tourism and foreign direct investment. Their research underscores the necessity for comprehensive approaches and strategic measures to mitigate the adverse environmental consequences of economic progress while promoting sustainable practices and reducing carbon emissions. It has become imperative to address these challenges and seek solutions that enable low-carbon and sustainable development. The continuous escalation of carbon emissions, alongside other significant pollutants, has created formidable barriers that must be overcome. For example, a recent study delved into the asymmetric impacts of Sweden's trade openness and the utilization of renewable energy sources on carbon emissions. The findings from this research revealed the diverse and multifaceted effects of renewable energy and trade openness on carbon dioxide emissions, emphasizing the need for a nuanced approach to addressing these complex issues [1,2].

Description

The advent of the digital technology revolution has ushered in a new era brimming with unparalleled prospects and challenges for our nation's economic development. In response, China's economy is currently navigating a gradual transition from a simplistic model that prioritized speed and quantity to a more sophisticated paradigm centered around low-carbon, sustainable development. Within this evolving landscape, expediting the transformation of the economic development model and facilitating profound integration between the tangible economy and the digital economy have emerged as pivotal steps towards achieving sustainable economic growth. This transformation is prompted by mounting concerns regarding low-carbon development, voiced not only by the government but also by the general public and the academic community. An urgent question arises: How can we sustain low-carbon growth while ensuring that development is socially inclusive. A study focusing on the relationship between carbon emissions and economic growth within South Africa's economy has shed light on the pivotal role of energy consumption. This research uncovered a significant positive correlation between energy consumption, carbon emissions and economic growth. Additionally, the study underscored the substantial positive link between economic development, tourism, carbon dioxide emissions and foreign direct investment. Intriguingly, the findings indicated that tourism and foreign direct investment contribute to the reduction of carbon dioxide emissions [3,4].

The second facet of the literature delves into the confluence of the green development movement and the digital economy. Within this sphere, two primary categories come to the forefront. Firstly, the digital economy, which places data as a central factor of production, holds the potential to supplant traditional industries. This transition can result in reduced environmental pollution through technological innovations, optimized industrial structures and heightened awareness of environmental protection within both the public and governmental spheres. n essence, the digital technology revolution brings forth a tapestry of opportunities and challenges for our nation's economic development. To tread the path towards low-carbon, inclusive growth, it is imperative to orchestrate a harmonious integration between the digital and real economies, all while addressing environmental concerns. The present study endeavors to contribute to our comprehension of the intricate interplay between digitization, resource allocation and the pursuit of sustainable economic development by examining the effects of regional digital economy development on low-carbon growth [5].

Conclusion

This study underscores the necessity of adopting a nuanced approach to regional digital economy development, one that takes into account the unique context and stage of development. By harnessing the potential of the digital economy while remaining cognizant of its constraints, policymakers can chart a course toward sustainable, inclusive and low-carbon growth within the regions under consideration. The remarkable strides in economic development have not been without consequences, as the excessive utilization of energy resources has contributed to a significant increase in greenhouse gas emissions, elevating environmental concerns to a critical level.

Acknowledgement

None.

Conflict of Interest

The authors declare that there is no conflict of interest associated with this manuscript.

References

1. Jordan, John and Clive Ellen. "Business needs, data and business intelligence."J Digit Asset Manag5 (2009): 10-20.

Google Scholar, Crossref

2. Mirolyubova, T.V., T.V. Karlina and R.S. Nikolaev. "Digital economy: Identification and measurements problems in regional economy." Eng Econ 2 (2020): 377.

Google Scholar, Crossref, Indexed at

3. Lauscher, Anne. "Life 3.0: Being human in the age of artificial intelligence." Int J Comput Digit Syst 6 (2019): 101-103.

Google Scholar, Crossref

4. Szeto, Kimmy. "Keeping score, digitally."Ref User Serv Q21 (2018): 98-100.

Google Scholar, Crossref, Indexed at

5. Kumar, Hradesh and Sanjeev Kumar Yadav. "Investigating social network as complex network and dynamics of user activities." Int J Comput Appl 125 (2015).

Google Scholar, Crossref, Indexed at