Daily Emissions of CO2 in the World : A Fractional Integration Approach

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Abstract

In this article, daily CO2 emissions for the years 2019–2022 are examined using fractional integration for Brazil, China, EU-27 (and the UK), India, and the USA. According to the findings, all series exhibit long memory mean-reversion tendencies, with orders of integration ranging between 0.22 in the case of India (with white noise errors) and 0.70 for Brazil (under autocorrelated disturbances). Nevertheless, the differencing parameter estimates are all considerably below 1, which supports the theory of mean reversion and transient shocks. These results suggest the need for a greater intensification of green policies complemented with economic structural reforms to achieve the zero-emissions target by 2050.