Assessing the interrelationship between fossil fuels resources and the biomass energy market for achieving a sustainable and green economy

This study examines a path to carbon neutrality by analyzing the connections between fossil fuels, biomass energy, green growth, and innovation. Using Chinese data from 1970 to 2020 and an Autoregressive Distributed Lag (ARDL) model, we found a positive relationship between biofuel use and agricultural bio-energy growth in the short and long term. We also found that reducing fossil fuel dependence boosts bio-energy cultivation. The study suggests China can transition to environmentally friendly energy sources, such as biofuels, by reducing reliance on fossil fuels like coal, in line with the carbon neutrality goal set by the Chinese government.