Modeling the relationship between carbon emissions and environmental sustainability during COVID-19: a new evidence from asymmetric ARDL cointegration approach.

ABSTRACT

The study aims to examine the CO2 emissions by considering the implication of COVID-19 under strict lockdown in India. The nonlinear (asymmetric) relationship is investigated between CO2 emission and COVID-19 with its specific determinants. The positive and negative asymmetries of COVID-19 determinants are also captured by using econometric techniques. The daily data series of CO2 emission, new confirmed cases, confirmed deaths, and lockdown as dummy variables from January 30, 2020, to December 1, 2020, for India is analyzed by employing the nonlinear autoregressive distributed lag model. This research revealed a significant nonlinear relationship between CO2 emission and COVID-19. The bound test and asymmetric coefficients are confirmed by the variables' long- and short-run relationships. The dynamic multiplier graphs present that India's strict lockdown due to the rapid increase in COVID-19 patients significantly reduces toxic gas emissions, especially CO2 emissions. This asymmetric relationship has been proficiently declared that unhealthy public routine, extra traffic, and unhygienic gases released in the air become the reason for environmental destruction. The lockdown is practically imposed for specific periods and reasons, contributing to reducing toxic emissions, but it is not a permanent solution for environmental sustainability. The government of India, policymakers, and environmentalists should make people aware of unhealthy and environmentally envying activities and policies and long-term applicable strategies should be designed to upgrade the environment's quality.