Considering natural gas rents, mineral rents, mineral depletion, and natural resources depletion as new determinants of sustainable development

Abstract

Natural gas rents, mineral rents, mineral depletion, and natural resources depletion are new determinants that need to be considered in the context of sustainable development. These determinants affect economic growth, resource availability, and environmental sustainability. We can endeavor towards a more equitable and sustainable future for all by incorporating these factors into sustainable development policies. This paper examines the impact of natural resources depletion, electricity production from natural gas sources, natural gas rents, mineral rents, and mineral depletion on the sustainable development index in China from 1975 to 2021. Results explain that natural resource rents, mineral rents, and mineral depletion are 10% significant. Natural resource depletion and electricity production from natural gas resources are 1% and 5% significant. Mineral depletion is negatively associated with the sustainable development index. Natural resource depletion, electricity production from natural gas resources, natural resource rents, and mineral rents are negatively associated with the sustainable development index in China. Promoting energy efficiency and conservation measures can help reduce the demand for natural resources. China can incentivize industries and individuals to adopt energy-efficient technologies, invest in renewable energy sources, and promote sustainable practices. Establishing transparent pricing mechanisms ensures fair competition among natural gas producers and consumers. China should adopt competitive bidding processes, allow market-based pricing, and provide clear information on gas tariffs to consumers.