Assessing the Impact of Renewable Energy Consumption, Economic Growth and Foreign Direct Investment on Carbon Emission: An Empirical Study of Africa Using Dynamic Panel Data Estimations and Panel Vector Autoregression Model Impulse Response Function

our study adopts panel data methodologies to empirically examine the impact of renewable energy consumption per capita, GDP per capita and foreign direct investments on carbon emissions for a panel of 33 African countries for the period 2000 – 2014. The long run estimates of the variables confirm that renewable energy consumption per capita is negatively related to carbon dioxide emission; renewable energy reduces the pollution that results from carbon emission. Economic growth showed positive impact on carbon emission and foreign direct investment showed negative or an inverse relationship with carbon emissions in our samples. We recommend that the use of renewable energy consumption should be prompted in Africa in order to develop carbon free economies and also mitigate the activities of pollutants in the premise of regulations