Energy efficiency and CO2 emissions: evidence from the UK universities

Eskander, Shaikh ORCID: 0000-0002-3325-5486 and Istiak, Khandokar (2022) Energy efficiency and CO2 emissions: evidence from the UK universities. Applied Economics. ISSN 0003-6846

Text (Eskander Istiak (2022) Applied Economics AAM version) - Accepted Version Download (861kB)

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Abstract

Understanding how energy efficiency improvement can mitigate CO2 emissions is critical for global climate change policies to ensure environmental sustainability and a low carbon future. Being the catalyst for training future generations, universities can play a leading role in this vision by adopting energy-saving and emissions reduction strategies. Using HESA data, a centralized system of reporting energy use and corresponding emissions, we adopt a two-step system GMM estimation procedure to estimate the effect of energy efficiency on CO2 emissions for 119 UK universities over the period between 2008-09 and 2018-19. Results confirm that higher energy efficiency is conducive to lower emissions. However, the less-than-elastic relationship between energy efficiency and emissions implies that energy efficiency improvement alone cannot enable the UK universities to comply with their net-zero objectives unless they increasingly adopt renewable energy sources. Despite this, universities were able to avoid 2.21 gtCO2e emissions over the sample period due to energy efficiency improvements. Our results are robust to alternative specifications.

Item Type:	Article
Additional Information:	© 2022 Taylor & Francis.
Divisions:	Grantham Research Institute
JEL classification:	Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q4 - Energy > Q41 - Demand and Supply Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q4 - Energy > Q42 - Alternative Energy Sources
Date Deposited:	28 Sep 2022 13:54
Last Modified:	16 Nov 2024 21:54
URI:	http://eprints.lse.ac.uk/id/eprint/116687

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