Abstract:

The European Union has an environmentally sensitive approach to governance and is taking important steps in terms of environmental protection policies. The European Union set itself the policy targets to reduce greenhouse gas emissions by 20% in 2020 and by 40% in 2030 compared to 1990 levels. Furthermore, the objective of 2050 is to adhere to the Paris Agreement and to implement the necessary policies to keep global warming below 2 ° C, preferably around 1.5 ° C. This study focuses on CO2 among the greenhouse gases and examines whether the European Union can succeed in greenhouse gas-related policies. For this purpose, the annual CO2 emission series of twenty-eight European countries have been investigated with no-break, one-break and two-break ADF unit root tests. The unit root tests with break(s) indicate that, except in a few cases, the series are stationary, therefore if policies make structural changes, CO2 emissions will move around the trend. In other words, findings indicate that green house gas reduction policies may be successful.

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