HOW SIGNIFICANT IS THE ‘TRUE’ ENERGY EFFICIENCY TO MITIGATE CO_2 EMISSIONS? EVIDENCE FROM OECD AND OPEC COUNTRIES

摘要

The ‘true’ energy efficiency has huge impact in mitigating CO_2 emissions. Similarly, the behavioural non-economic factors have a non-trivial impact on CO_2 emissions. Therefore, investing more on energy efficiency and sensitizing people about the need to protect the environment could help restrain CO_2 emissions to desirable targets and conserve available fuels for future use. More so, subsidy reforms (especially in OPEC countries) could help influence consumer’s energy using lifestyle and behaviour, hence to mitigate CO_2 emissions.