Revisiting China's natural resources-growth-emissions nexus : Education expenditures and renewable energy innovation

COP27 sets new targets for economies around the globe to attain the Paris Agreement goals which are based on GHG emissions and to limit the global temperature to 1.5 °C. Hence in the context of COP 27, the current study intent to investigate the impact of educational expenditures, renewable energy innovation, mineral rents, and economic growth on carbon emissions. The study used data for China from 1988 to 2021. The study used novel time series methods. The results are robust and provide greater insight to policymakers. The finding shows that mineral rents help limit carbon emissions with renewable energy innovation and education expenditures. Education expenditures are crucial and touch a novel dimension of the growth-emissions nexus. The research also confirmed the positive influence of economic growth on CO2 emissions. The study recommends further encouraging expenditures on education, mineral rents, and renewable energy innovation to attain China's COP27 target regarding carbon emissions, and further policies are recommended for the increasing sustainability of mineral rents to achieve sustainable development and reduce GHG emissions. Moreover, it is also recommended that policymakers should incentivize the fossil fuels sectors and low-income households who are struggling to pay for energy in the shape of investments in renewable energy projects and renewable energy initiatives. It is also advised that governments should ensure access of households to cleaner energies and technologies in order to reduce the GHG emissions related to CO2 emissions which come under the targets of COP27.