Green growth transition and carbon neutrality nexus: A comparative study on the top carbon emitters

This is a comparative study that investigates the role of green growth, green technological innovations, agricultural eco-efficiency and trade openness on carbon neutrality in the top three carbon emitting countries, namely, China, the USA and India, using panel quantile regression with quarterly data for the time period of 2010-2022. The results reveal different findings which have important policy implications. Firstly, carbon emissions vs green growth and carbon emissions vs green technological innovation have a significant U-shaped relationship, which indicate that when green growth and green technological innovations increases, the rate of carbon emissions continues to decline up to a threshold point and start to increase thereafter. Secondly, carbon emissions vs agricultural ecoefficiency has an inverted U-shaped relationship with the carbon emissions, showing that when agriculture eco-efficiency increases the rate of carbon emissions continues to increase up to a threshold point, and starts declining afterwards. Thirdly, trade openness increases the carbon emissions resulting an increase in the environmental degradation and may hinders achieving the carbon neutrality target. The carbon emissions reduction policies such as carbon taxes, promoting green trade, promoting green growth and emission trading schemes must acknowledge and incorporate the interplay among key stakeholders to enhance their effectiveness.