In the past decade, mitigating the negative effects of global warming became a concern for policymakers across the world. Industrial activities and the consumption of fossil fuels are considered to be the main source of global environmental pollution. These emissions have contributed to climate change and the deterioration of the atmosphere, which impacted the welfare

There is a trade-off between economic growth and environmental quality. Whenever there is economic growth, it is usually achieved at a cost to the environment because economic activities are associated with more energy consumption. Also, if we opt to preserve the environment by reducing the consumption of fossil fuels, that slows down the economic growth […]