Decarbonisation drivers and climate change concerns of developed economies

The research is built on the World Bank, OECD, and the Heritage Foundation datasets for OECD economies. It investigates the main drivers of decarbonisation and climate change in these countries, analysing three CO2 indicators: total and per capita CO2 emissions as well as carbon efficiency. The results have confirmed that the growth of nations' welfare increases economies' carbonisation levels while creating prerequisites for improving states' carbon efficiency. It proves the positive influence of energy efficiency progress on OECD countries' decarbonisation. In contrast, green energy development has no significant effect on the reduction of total CO2 emissions but positively influences increasing carbon efficiency and reducing per capita carbon dioxide emissions. Oil prices and most institutional factors like EU membership and Heritage Foundation indicators have no noticeable influence on CO2 indicators. The paper provides policy recommendations and points to future research based on the research results.