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Towards a Sustainable Future: Circular Economy, Carbon Emissions and Just Transitions in South and East Asia
Abstract
As the world is growing rapidly, various issues regarding the environment, society and economic conditions of the people is getting broadened. Therefore, it becomes essential to explore the concepts of circular economy, energy transitions and just transitions together. As we look at the shift from a traditional linear to a more sustainable circular economy, this study highlights the impact of unequal distribution of resources and the degradation of environment on the determinants of circular economy. This analysis emphasizes on the South and East Asian nations because of the existence of great diversity among their population. To pursue the study further, thirteen nations of various income levels have been selected and thirteen variables from various sources according to the availability of data are taken into consideration. To estimate the panel data, random effects model has been employed in order to achieve the objective of this study. The study revealed that South and East Asian nations have higher EF and COE. This may be possible due to various reasons such as rapid industrialization, high standard of living, increase in resource demand and rapid population growth. This scenario stresses on the requirement of sustainable practices, efficiency in resource management, policies focusing on reducing ecological footprints, carbon emissions and preserving biocapacity.
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