A recent study published in ‘Discover Sustainability’ sheds light on the intricate relationship between green technology, carbon dioxide (CO2) emissions, and life expectancy in the ASEAN-5 countries: Indonesia, Malaysia, the Philippines, Thailand, and Vietnam. Conducted by Mohd Shahidan Shaari from the Faculty of Economics and Business at Universiti Malaysia Sarawak, this research highlights the urgent need for sustainable practices in the face of escalating climate challenges, particularly as emphasized in the recent Conference of Parties (COP28).
The study employs advanced statistical techniques, namely Fully Modified Ordinary Least Squares (FMOLS) and Dynamic Ordinary Least Squares (DOLS), to analyze data spanning from 1995 to 2020. The findings are striking; they suggest that green technology can significantly enhance life expectancy, while CO2 emissions detrimentally impact public health. “Our research indicates that investing in green technology not only addresses environmental concerns but also directly contributes to improving the health and longevity of citizens,” Shaari states.
The implications for the energy sector are profound. As countries in the region grapple with rising CO2 levels, the push for renewable energy sources and green technologies could lead to substantial commercial opportunities. The study notes that in both Thailand and the Philippines, increased health expenditure correlates positively with life expectancy, suggesting that investments in healthcare infrastructure can yield significant returns in public health outcomes. This creates a compelling case for energy companies to align their initiatives with health and sustainability goals.
Moreover, the research underscores the economic growth potential tied to adopting green technologies. In Singapore and the Philippines, for instance, the adoption of sustainable practices is linked to improved life expectancy. This correlation presents an opportunity for energy companies to innovate and invest in clean energy solutions, potentially unlocking new markets and enhancing their competitive edge. “Policymakers must prioritize healthcare investments and sustainable economic strategies to foster resilience in both health and energy sectors,” Shaari emphasizes.
The study also advocates for targeted incentives for green technology, such as tax breaks for renewable energy investments and subsidies for carbon capture research. By mitigating CO2 emissions, these measures can fortify economic resilience while simultaneously enhancing public health and life expectancy across the region.
As the ASEAN-5 countries strive to balance economic growth with environmental sustainability, this research offers a roadmap for future developments in energy policy and investment. The findings serve as a clarion call for stakeholders in the energy sector to embrace greener practices, not only as a moral imperative but as a strategic business opportunity.
For further insights, you can explore the work of Mohd Shahidan Shaari at Universiti Malaysia Sarawak.
