Effects of Oil Consumption, Urbanization, Economic Growth on Greenhouse Gas Emissions: India via Quantile Approach

Although low-carbon economic growth has been emphasized in both the Paris Agreement and the Sustainable Development Goals, this is the first study to examine the interplay between oil consumption, urbanization, and economic growth in India’s GHG emissions from 1965 to 2021. A quantile regression analysis found that a 1% rise in greenhouse gas emissions is linked to a 0.34% rise in economic growth, a 0.599% rise in oil consumption, and a 0.28% drop in urbanization. Using the Granger causality technique, researchers found that CO₂ emissions cause economic development and urbanization in only one direction. On the other hand, oil consumption only has a one-way influence on carbon emissions and urbanization, and economic expansion only has a one-way effect on urbanization.