Unraveling the Intricate Nexus of Philippine Environment and Economy: An Empirical Analysis Using Multiple Regression
DOI:
https://doi.org/10.54536/ajee.v2i1.1640Keywords:
CO2 Emissions, GDP Per Capita, Primary Energy Use, Renewable Energy Consumption, Population Growth, Foreign Direct Investment, PhilippinesAbstract
A progressive country has sacrificed many things to achieve its goals, including using natural resources leading to environmental degradation. This study aimed to find out the status of the Philippines concerning environmental factors, specifically Carbon Dioxide (CO2) Emissions, and how it is intertwined with various economic aspects, explicitly Gross Domestic Product (GDP) per capita, Primary Energy Use, Renewable Energy Consumption, Population Growth, and Foreign Direct Investment. The study employed multiple regression analysis to measure the relationship between environmental conditions and economic growth factors. The data secondary data used in the study was obtained from World Bank (1990 – 2014). Results yielded that the impact of GDP per capita has a positively significant relationship with carbon emission influencing a substantial increase. Consumption of primary energy use by households or businesses has extensive environmental consequences, especially with substantial population growth. Moreover, the utilization of renewable energy emerged as the most obvious approach the country should come up with to combat climate change and environmental deterioration as increased human activity necessitates the utilization of the environment and natural resources. Researchers suggest significant investments in climate change adaptation and combating for the country, considering the Philippine’s strong potential for clean energy generation to avoid or even contend with the predicted ecological catastrophe by 2100.
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Copyright (c) 2023 Leomar M. Sabroso, Jan Mariel A. Duyo, Aristeo C. Salapa
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