Digitizing energy supply chains for enhanced resilience: Exploring the nexus between supply chain digitization, carbon neutrality, and natural resource extraction
In this era of rapid change, natural resource extraction (NRE) plays a pivotal role in securing an energy-resilient future and fostering sustainable socio-economic development. Carbon neutrality and supply chain digitization have emerged as key strategies in the global battle against susutaining cli...
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Veröffentlicht in: | Energy economics 2025-02, Vol.142, p.108177, Article 108177 |
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Sprache: | eng |
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Zusammenfassung: | In this era of rapid change, natural resource extraction (NRE) plays a pivotal role in securing an energy-resilient future and fostering sustainable socio-economic development. Carbon neutrality and supply chain digitization have emerged as key strategies in the global battle against susutaining climate. This research explores how supply chain digitization contributes to energy resilience, specifically examining the nexus between carbon neutrality and natural resource extraction in South Asia. Through panel data analysis (employing both random and fixed effect models), the study assesses the impact of supply chain digitization on energy security, sustainable development, and green innovation. The findings indicate that for every 1 % increase in the trade balance of GDP, NRE rises by an average of 0.06 % of gross domestic product (GDP). Additionally, the research reveals that a 1 % reduction in carbon emissions leads to a significant boost in NRE, with an average increase of 1.01 % of GDP, highlighting its substantial contribution to economic growth. Moreover, the study forecasts carbon emissions based on the selected variables using a Feed-forward Neural Network (FFNN), achieving high levels of accuracy with respect to Root Mean Square Error (RMSE) i.e. 21 %. In conclusion, the study emphasizes that supply chain digitization and carbon neutrality are integral to fostering resilient NRE. These insights can guide policymakers in internalizing environmental costs, promoting sustainable practices, improving industrial production by minimizing the polluting elements and investing in conservation initiatives. By recognizing the importance of natural resources, energy resilience, and their economic returns, South Asian economies can make informed decisions that drive long-term resilience and prosperity.
•Carbon neutrality, energy resilience, and supply chain digitization influential contributor to combat climate change.•This study is an attempt to investigate the issues among South Asian economies from 1973 to 2022.•For this purpose panel, random and fixed effects are employed.•Results declared that the supply chain digitization significantly affects natural resource extraction.•Results also declared that carbon neutrality significantly affects natural resource extraction. |
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ISSN: | 0140-9883 |
DOI: | 10.1016/j.eneco.2024.108177 |