Transformations  in
Business & Economics

ECONOMIC PROGRESS AND ENVIRONMENTAL IMPACT: A STATISTICAL EXPLORATION IN OECD COUNTRIES
Adina Viorica Rus, Elena Dana Bako, Mihaela Daciana Rovinaru, Leonard Artur Horvath

ABSTRACT: At the nexus of sustainable development and environmental stewardship lies a complex web of interactions between socio-economic developments and ecological impact. This article presents a statistical inquiry into the multifaceted relationship between greenhouse gas (GHG) emissions per capita and pivotal economic indicators, notably the Human Development Index (HDI) and Gross Domestic Product (GDP) per capita. Through a robust analytical lens, we dissect the extent to which these socio-economic metrics influence, and are influenced by, the carbon footprint of nations. The analysis is performed on OECD* countries (*current members and accession candidates). In scrutinising the GHG emissions trajectories of investigated countries, a notable trend towards decarbonization is observed. The compound annual growth rate (CAGR) of GHG emissions per capita in most of these nations has shown marked improvement in the latter half of the last decade compared to the turn of the millennium. This positive shift is a testament to the potential efficacy of environmental policies and innovations in technology that have been increasingly embraced worldwide.

KEYWORDS:  sustainable development, climate action, GHC emissions, HDI, economic growth, GDP/capita

JEL classification:  Q50, O44.