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To tackle the issue of climate change and environmental degradation debates regarding carbon neutrality is on the rise. Regional Comprehensive Economic Cooperation (RCEP), the leading trading union, covers nearly third of global economy, world population, is responsible for thirty percent of global trade and global gross domestic product. The existent study tests the impact of financial, economic, political, and composite risk on consumption-based carbon dioxide emissions (CCO 2 ) in selected RCEP economies during the period of 1990 to 2020. The empirical analysis consists of cross-sectional dependence, slope heterogeneity, cross-sectional augmented panel unit root test, Westerlund cointegration, second-generation cross-section augmented autoregressive distributed lags model (CS-ARDL), and panel causality test. Further, we explore the role of imports, renewable energy supply, exports, and gross domestic product per-capita on CCO 2 . The empirical results suggest that the less political risk help to mitigate while the lower financial, economic, and composite risk increase CCO 2 emissions in selected RCEP economies. Moreover, exports and renewable energy supply show mitigating effect, whereas imports show upsurge in CCO 2 . Additionally, a bidirectional causality exists between exports and CCO 2 , imports and CCO 2 , GDP per-capita and CCO 2 , political risk and CCO 2 , and renewable energy and CCO 2 emissions, while a one-way causality from financial risk, composite risk, and economic risk to CCO 2 . Renewable energy supplies along with the improvement in sub-components of political risk, for instance, corruption, government stability, would help to effectively tackle the issue of CCO 2 emissions.

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The Moroccan government has always advocated reducing energy intensity so as to reach the target of the sustainable development. The current study presents the connection between CO2 emission, energy intensity (EI), natural resource rents (NRRs), energy productivity (EP), and renewable energy (RE) by employing annual time-series data from 1990–2020 for Morocco. Using the ARDL model, the empirical findings illustrate that (i) increasing EI significantly contributes to carbon emissions, (ii) higher consumption of natural resources adversely affects CO2 emissions, and (iii) EP and RE are the key factors to mitigate carbon emissions in both the short term and long term, suggesting that these two factors strengthen the considerable impact of EI and the consumption of natural resources on carbon emissions. Nevertheless, the negative environmental effects are moderately neutralized by adopting significant clean and green energy consumption within the country. The outputs of the robustness test verify the reliability of the regression results. Moreover, a one-way Granger causality running from EI, EP, RE, and NRR to CO2 emissions indicates that any variation in these variables will cause CO2 emissions. The present study offers the latest insights by adding EP and RE into country development and will support government policy makers in decisions related to efficiently abating CO2 emissions.