Corporate Carbon Footprint Environmental Quality and Combating the Covid-19 Pandemic (US Example)


Karacan R.

KONURALP TIP DERGISI, vol.14, no.S1, pp.251-259, 2022 (ESCI) identifier

  • Publication Type: Article / Article
  • Volume: 14 Issue: S1
  • Publication Date: 2022
  • Doi Number: 10.18521/ktd.1021239
  • Journal Name: KONURALP TIP DERGISI
  • Journal Indexes: Emerging Sources Citation Index (ESCI)
  • Page Numbers: pp.251-259
  • Kocaeli University Affiliated: Yes

Abstract

Objective: Developed countries with high use of fossil fuels in production can harm the environment by contributing more to the formation of greenhouse gases on a global scale. In this context, it has been emphasized that they have caused an increase in Covid-19 cases. Therefore, this study aims to provide policymakers with a different perspective on the fight against the virus. Methods: This research covers the United States. The relationship between Coal Industry CO2 (CCO), Natural Gas Industry CO2 (NCO), Power Industry CO2 (ECO), Petroleum Industry CO2 (OCO), and Covid-19 cases (COV) is discussed. Monthly data for the period between 2019 and 2021 were used. The data were compiled from World Health Organization and Our World in Data web resources. In the analyses, the ARDL Boundary Test model was used to capture long-term and short-term causality relationships. Results: In general, the results show that fossil energy sources such as coal, oil, electricity and natural gas used in industries play an important role in the increase of Covid-19 cases. Among these energy sources, coal is the one that causes the most damage. Coal is followed by oil, electricity and natural gas, respectively. Accordingly, a 1% change in the US economy due to coal used in production leads to a 1.03% change in Covid-19 cases. Similarly, the effect of oil on Covid-19 cases is 0.61%. The impact of industries using electrical energy based on fossil fuels in their production on Covid-19 cases is 0.26%. Natural gas proved to be the fossil fuel energy source with the least impact on Covid-19 cases with a change of 0.069%. Conclusions: The findings revealed that the increase in fossil fuels used in industries during the relevant period negatively affected air quality and Covid-19 cases. The increase in the number of cases affects the health sector more than any other sector. If this data is associated with future energy sources used in industries (fossil fuels), it will contribute to the creation of public policies that promote a new generation of energy sources in production.