The analysis of the relationship between CO2 level and economic growth

Abstract

2019 was Earth's second warmest year since 1850. In 2019 the global mean temperature was cooler than in 2016, but warmer than any other year explicitly measured. Consequently, 2016 is still the warmest year in historical observation history. Year-to-year rankings are likely to reflect natural fluctuations in the short term, but the overall pattern remains consistent with a long-term global warming trend. This would be predicted from global warming, caused by greenhouse gases, temperature increase across the globe is broadly spread, impacting almost all areas of land and oceans. "Climate change" and "global warming" are often used interchangeably, but are of distinct significance. Global warming is the long-term heating of the Earth's climate system, observed since the pre-industrial period as a result of human activities, mainly the combustion of fossil fuel, which raises the heat-trapping greenhouse gas levels in the Earth's air. The term is often used interchangeably with the term climate change, as the latter applies to warming, caused both humanly and naturally, and the impact it has on our planet. This is most generally calculated as the average increase in global surface temperature on Earth. In our research, we examine the relationship between the regulation of carbon emissions and the GDP / capita relationship between developed and developing countries. We assumed applying carbon abatement policies will reduce economic growth and GDP in developed countries, but it will rise economic growth and GDP in developing countries.