Does electricity consumption and globalization increase pollutant emissions? Implications for environmental sustainability target for China

Towards a green future for Sub-Saharan Africa: do electricity access and public debt drive environmental progress?

The combination of rising debt levels, poor electricity access, and environmental deterioration could threaten the attainment of the sustainable development goals (SDGs). Hence, this inquiry examined the implications of public borrowing and access to electricity on environmental sustainability (proxied by ecological footprint (ECOL) and carbon dioxide (CO2) emissions) in Sub-Saharan Africa (SSA), largely overlooked in the literature. In addition to pre-estimation, diagnostic, and robustness checks utilized in the study, the instrumental variable generalized method of moment (IV-GMM) approach is employed to examine annual data from 39 SSA economies between 2005 and 2018. The key findings indicate that public debt negatively influences environmental sustainability in the region at a certain level of threshold, while access to electricity has the potential to trigger environmental sustainability but remain below the expected threshold to mitigate environmental damage in SSA. The study provides recommendations for SSA policymakers to significantly reduce pollution and protect the environment which is vital for sustainable development.

What are the core concerns of policy analysis? A multidisciplinary investigation based on in-depth bibliometric analysis

Policy analysis provides multiple methods and tools for generating and transforming policy-relevant information and supporting policy evolution to address emerging social problems. In this study, a bibliometric analysis of a large number of studies on historical policy analysis was performed to provide a comprehensive understanding of the distribution and evolution of policy problems in different fields among countries. The analysis indicates that policy analysis has been a great concern for scholars in recent two decades, and is involved in multiple disciplines, among which the dominant ones are medicine, environment, energy and economy. The major concerns of policy analysts and scholars are human health needs, environmental pressures, energy consumption caused by economic growth and urbanization, and the resulting demand for sustainable development. The multidisciplinary dialog implies the complicated real-world social problems that calls for more endeavors to develop a harmonious society. A global profiling for policy analysis demonstrates that the central policy problems and the corresponding options align with national development, for example, developing countries represented by China are faced with greater environmental pressures after experiencing extensive economic growth, while developed countries such as the USA and the UK pay more attention to the social issues of health and economic transformation. Exploring the differences in policy priorities among countries can provide a new inspiration for further dialog and cooperation on the development of the international community in the future.

The effect of financial globalization and natural resource rent on load capacity factor in India: an analysis using the dual adjustment approach

Currently, the most crucial economic and ecological issues are related to environmental degradation and sustainability. On this backdrop, this paper examines the impact of financial globalization and natural resource rent on load capacity factor, using the novel dual adjustment approach and time-frequency domain causality approaches, in the case of India. This study contributes to the extant body of knowledge in the area of environmental economics. First, it is the first attempt to analyze the factors responsible for load capacity factor, specifically for India. As such, studies on environmental concerns on both the supply and demand sides are put into consideration. Empirical results show that only renewable energy consumption lessens the load capacity factor, while economic growth and financial globalization are positively correlated with the load capacity factor, and natural resource rent is insignificant in the short run. In the long run, only economic growth is negatively correlated with load capacity factor, while the other series positively influence load capacity factor. To reap greater ecological merits, policymakers should focus on transitioning from conventional non-renewable energy sources that contribute to rising carbon emissions to more cost-effective and dependable renewable sources of energy that support sustainable growth and a healthy environment.

A dynamic analysis of the impact of FDI, on economic growth and carbon emission, evidence from China, India and Singapore

This study dynamically examines the impact of foreign direct investment and other explanatory variables on economic growth and carbon emissions, and tests the validity of pollution haven hypothesis (PHH) and environmental Kuznets curve (EKC) hypothesis in China, India, and Singapore from 1980 to 2020. The results of Westerlund's (Oxford Bulletin of Economics and Statistics, 69(6):709-748, 2007) panel cointegration test illustrate long-run equilibrium relationships among the proposed set of panel variables in the model. The estimated parameters of the AMG, CCEMG, and MG estimators in each of the specified models show that renewable and non-renewable energy consumption, foreign direct investment, and capital accumulation all have significant and progressive effects on economic growth. However, the labor force is insignificant and carbon emissions have a significant negative impact on economic growth. Non-renewable energy consumption significantly stimulates and renewable energy consumption significantly reduces carbon emissions. Moreover, the moderating role of non-renewable energy in the impact of foreign direct investment on carbon emissions is significantly positive, thus validating the PHH. The moderating role of renewable energy consumption in the impact of foreign direct investment on carbon emissions is significantly negative. The study's analysis also clearly validated the inverted U-shaped EKC hypothesis in China, India, and Singapore. Policymakers in emerging economies must prioritize the maturity of renewable energy, which not only increases productivity but also protects the environment from damage by reducing carbon dioxide emissions. The governments of China, India, and Singapore should initiate direct foreign inflows based on advanced and clean technologies to avoid environmental degradation and drive higher growth in these economies.

Impact of globalization on the environment in major CO2-emitting countries: Evidence using bootstrap ARDL with a Fourier function

Alongside sustainable development as a major global aim, the contribution made by globalization to environmental issues has become crucial in recent decades. Prior studies have focused on how trade in globalization influences the environment. However, multiple economic, social, and political factors are also important, the integration of which needs to be considered in sustainable development. Sharp and smooth breaks in time series models are the consequence of real-world structures. Using the bootstrap autoregressive-distributed lag test with a Fourier function, the present study reexamined the nexus between globalization and the environment in China, the United States, and India. The empirical results indicate that in the United States, the nexus between globalization and the environment is cointegrated in the long-term. In the short term, globalization is improving the environment in the United States and India. However, in China, globalization is resulting in environmental degradation. This research will assist policymakers in developing comprehensive strategies for sustainable development.

Validation of the environmental Kuznets curve hypothesis and role of carbon emission policies in the case of Russian Federation

Climate change currently observed and expected in the future is associated with risks to security and sustainable development and natural and irreversible consequences. To minimize these risks, it is necessary to adapt the public administration, economic sectors, and regional infrastructure to the changing climate conditions. This paper discovers the links between CO₂ emissions and their key determinants such as economic growth, energy consumption, population, trade openness, and financial development including the period from 1990 to 2020 to test the environmental Kuznets curve (EKC) hypothesis by using ARDL bound test for the Russian Federation. Findings reveal that energy consumption and population have a positive impact on CO₂ emissions, while economic growth, financial development, and trade openness have been found to decrease CO₂ emissions in the long term. The results of this paper show that there is a "U"-shaped relationship between CO₂ emissions and economic growth in the Russian Federation. This shows that EKC is valid up to a certain income level in the Russian Federation, and when this income level is exceeded, a positive relationship will begin between economic growth and environmental degradation. As a policy implementation, policymakers must implement clean energy technology policies to achieve the 2060 net zero carbon target. Policies such as fossil-based energy use and reducing energy intensity should be adopted.

Understanding the relationship between globalization and biophysical resource consumption within safe operating limits for major Belt and Road Initiative countries

Over the past few years, a growing number of scholars have explored environmental deterioration and its connection to various indicators acting as proxies for growth and globalisation. Taking this into view, the current study examines the globalisation-environment nexus, using 66 major countries and administrative regions of the Belt and Road Initiative (BRI) as case studies for 2000-2015. For this analysis, six biophysical resource usages were used within the safe operating space of the planetary boundary concept as proxies for the environmental state, along with the four main and five sub-indices of the Konjunkturforschungsstelle (KOF) globalisation index. Pearson's correlation, hierarchical clustering, redundancy analysis, linear regression, autoregressive integrated moving average (ARIMA) forecasting, etc. were used to infer existing trends, the interactions between the environment and globalisation, a projected future, and coupling with safe operating space aspects. The findings reveal the long-run asymmetric relationship of variables. Surpassing safe operating limits to achieve globalisation is the most prominent outcome. Economic, trade, and financial globalisation are more crucially related to biophysical resource usage. Nitrogen use and material footprint act as strong drivers for various indices of globalisation. At least 40% of countries are above the global average resource usage and 50% have crossed all of the safe operating limits. At the present rate, nearly 51% of countries might cross all their safe operating spaces in 2030. In a race to achieve more globalisation (0.95), more than 30% of countries might cross 5 of the 6 planetary boundaries. Land system change, the biogeochemical cycle, and climate change are impending as the most important domains to be focused on regarding globalisation. Based on the findings, it can be recommended that governments and policymakers devote more attention to reframing and redesigning globalisation to be more environment friendly to achieve long-term sustainable development goals.

Does political risk drive environmental degradation in BRICS countries? Evidence from method of moments quantile regression

As a contribution to the political risk-environmental degradation literature, this study examines whether political risk drives environmental degradation in a multivariate framework. To achieve our study objective, we employed the method of moments quantile regression (MMQR) approach to analyze the effect of renewable energy use, economic growth, political risk, and globalization on quantiles of carbon emissions. The study utilized dataset stretching between 1990 and 2018 to investigate this interrelationship in the BRICS nations. The results generated from the MMQR mimic those of the three heterogeneous linear panel estimation techniques conducted (for robustness check), in terms of coefficient sign, magnitude, and significance. Using the MMQR technique, empirical results show that across quantiles (0.1-0.90), political risk, economic growth, and globalization positively affects environmental degradation. Renewable energy consumption, on the other hand, curb environmental degradation across all quantiles (0.10-0.90). Furthermore, the outcomes of the FMOLS, DOLS, and FEOLS corroborated the MMQR outcomes. In addition, the outcomes of the Dumitrescu-Hurlin panel causality revealed that renewable energy use, political risk, economic growth, and globalization can significantly predict CO₂ emissions in the BRICS nations. The findings offer intuition for policymakers to lessen CO₂ emissions in BRICS nations via diversification and clean energy technologies such as carbon capture and storage.

Environmental concerns of financial inclusion and economic policy uncertainty in the era of globalization: evidence from low & high globalized OECD economies

Environmental consequences of financial aspects, policy uncertainties and rapid globalization is the topic of intense debate in present years. However, this study contribute to existing literature in an innovative way. We classified the 33 OECD economies in two group's lower globalized economies (LGE) and highly globalized economies (HGE), based on their level of globalization. Considering the cross-sectional dependency and slope heterogeneity in the data this study employed the Augmented Mean Group method to estimate the influence of financial inclusion, economic policy uncertainty and globalization on the environment quality of both groups for the period 1996-2019. The results revealed a negative significant impact of financial inclusion, while a positive significant impact of economic policy uncertainty on CO2 emissions in both groups, LGE and HGE. However the globalization estimated to have positive impact on CO2 emission in LGE's, in HGE's it is significantly impeding the CO2 emission. The interaction of globalization with financial inclusion and economic policy uncertainty respectively found negative and positive to effect the CO2 in both LGE's and HGE's. The study suggests that, LGE's are need to prepare for economic globalization, move toward adopting energy-efficient technology and promote trade in less-polluting products in order to sustain their environment quality. The outcomes of this study are robust by employing different model specifications.

The role of economic complexity in the environmental Kuznets curve of MINT economies: evidence from method of moments quantile regression

In the face of mounting climate change challenges, reducing emissions has emerged as a key driver of environmental sustainability and sustainable growth. Despite the fact that research has been conducted on the environmental Kuznets curve (EKC), few researchers have analyzed this in the light of economic complexity. Thus, the current research assesses the effect of economic complexity on CO2 emissions in the MINT nations while taking into account the role of financial development, economic growth, and energy consumption for the period between 1990 and 2018. Using the novel method of moments quantile regression (MMQR) with fixed effects, an inverted U-shape interrelationship is found between economic growth and CO2 emissions, thus validating the EKC hypothesis. Energy consumption and economic complexity increase CO2 emissions significantly from the 1st to 9th quantiles. Furthermore, there is no significant interconnection between financial development and CO2 emissions across all quantiles (1st to 9th). The outcomes of the causality test reveal a feedback causal connection between economic growth and CO2, while a unidirectional causality is established from economic complexity and energy use to CO2 emissions in the MINT nations. Based on the findings, we believe that governments should stimulate the financial sector to provide domestic credit facilities to industrialists, investors, and other business enterprises on more favorable terms so that innovative technologies for environmental protection can be implemented with other policy recommendations.

Asymmetric nexus among financial globalization, non-renewable energy, renewable energy use, economic growth, and carbon emissions: impact on environmental sustainability targets in India

Financial globalization has been argued to contribute to the increase/decrease in greenhouse gases and hence global temperature. India, according to International Energy Agency (IEA), is the third largest emitter of greenhouse gases globally, where the consumption of the few rich produces about seven times carbon emissions when compared with the poorest households. This current research explores the asymmetric effect of financial globalization on carbon emissions, while controlling for non-renewable energy utilization, renewable energy consumption, and economic expansion. The study uses yearly data stretching from 1970 to 2018 and batteries of econometric approaches in order to investigate these associations. The outcomes of the NARDL unveiled that (i) a positive (negative) shock in non-renewable energy utilization increases (decrease) carbon emissions; (ii) favorable (unfavorable) variations in renewable energy consumption decrease carbon emissions; (iii) a favorable shock in financial development contributes to carbon emissions; and (iv) a positive shock in growth impacts carbon emissions positively. Based on the empirical outcomes, we are of the opinion that policymakers should intensify efforts in putting in place appropriate environmental policy (green economy) that emphasizes the importance of renewable driven economy via energy-saving and energy-efficient technologies. Else, increased consumption on non-renewable energy sources among the few rich in India and any other countries struggling with implementing green economy would be devastating to both the immediate and future generations.

The role of electricity consumption, capital, labor force, carbon emissions on economic growth: implication for environmental sustainability targets in Nigeria

Despite consistent investments, grants, and other concessions in the power sector, nationwide power outages still remain an issue, even in 2020, disrupting business operations, contributing to huge recurrent expenses on generators and alternative sources of electricity in homes, businesses, and institutions. In this paper, we examine the role of electricity consumption on economic growth, while controlling for labor, capital, and carbon emissions, using the autoregressive distributed lag (ARDL) and the novel dynamic ARDL (DYNARDL) simulation analysis over the periods 1981-2019. Empirical results show that electricity consumption, capital, and labor exert positive inelastic impacts, while carbon emissions exert negative inelastic significant impact on economic growth within the period under investigation. From policy standpoint, we are of the opinion that stable supply and consumption of electricity can possibly boost economic growth and engender social stability in Nigeria. Thus, there is a need to strengthen the effectiveness of power sector and its energy generating agencies by ensuring periodic replacement of worn-out equipment in terms of adequately financed and efficient labor in order to enhance the contribution of the sector on economic growth, while in terms of environmental degradation, policy makers should work towards promotion of green economy for a sustainable economic growth and environment in Nigeria.

Green Technology Innovation, Globalization, and CO2 Emissions: Recent Insights from the OBOR Economies

This study explores the connection between technological innovation, globalization, and CO2 emissions by controlling the critical influence of information and communication technology (ICT) and economic growth in a panel of One Belt One Road (OBOR) countries from 1991 to 2019, utilizing advanced and robust econometric strategies (second generation). In addition, this study also uses an interaction variable (TI*GLOB) to check the interaction role of technological innovation on the linkage between globalization and CO2 emission, besides their direct effect on CO2 emissions in OBOR countries. The outcomes revealed that the linkage between technological innovation and CO2 emissions is negative, and statically significant in all the regions (e.g., OBOR, South Asia, East and Southeast Asia, MENA, Europe, and Central Asia). Moreover, the results of globalization show a significant positive relationship with CO2 emissions in OBOR and South Asia region. Nevertheless, it significantly negatively affects environmental pollution in East and Southeast Asia, MENA, Europe, and Central Asia. The results of TI*GLOB indicate that, for the OBOR sample, East and Southeast Asia, and Central Asia, the moderation effects of technological innovation with globalization are significantly negatively associated with CO2 emissions. However, in MENA and Europe, the interaction effect is a significant positive. The coefficient of ICT for OBOR, Europe, and Central Asia are positive and statistically significant; however, for East, Southeast Asia, and MENA regions, these results are statistically negative. Furthermore, the findings are robust, according to various robustness checks that we have performed for checking the reliability of our main findings. The study establishes numerous polities and makes various recommendations, in light of relevant conclusions.

Do higher education research and development expenditures affect environmental sustainability? New evidence from Chinese provinces

Even though higher education R&D expenditures (HEEXP) are important determinants of economic growth that facilitate science, technology, new ideas, and innovation, yet its effect on environmental sustainability remains unexplored. This paper examines the nexus between HEEXP and carbon dioxide emissions (CO₂e), followed by control variables such as electricity consumption (EC), foreign direct investment (FDI), gross domestic product (GDP), and total population (TP) for the period 2000Q1-2019Q4. Data were evaluated using different tests, e.g., the cross-sectional dependence test, cross-sectionally augmented Dickey-Fuller unit root test, Westerlund error-correction-based panel cointegration test, mean group, augmented mean group, common correlated effects mean group, and Dumitrescu-Hurlin panel causality test. First, the results validated the cointegration association among HEEXP, EC, FDI, GDP, TP, and CO₂e. Second, the finding showed significant long-term negative nexus between HEEXP and CO₂e. Third, the findings indicated that electricity consumption, foreign direct investment, gross domestic product, and total population are the important factors that intensify the overall situation of CO₂e. Fourth, the results indicated that there exists bidirectional causality between EC and CO₂e; FDI and CO₂e; GDP and CO₂e; POP and CO₂e; and HEEXP and CO₂e. This paper's findings call for devising policies and strengthening financial support to induce higher education for developing green patents.

Mitigating human-induced emissions in Argentina: role of renewables, income, globalization, and financial development

Achieving environmental sustainability has become a global initiative while addressing climate change and its effects. However, the role of energy production and consumption in economic development remains critical amidst environmental pollution. Thus, the need for innovation and clean energy alternatives is critical while pursuing sustainable development. This country-specific study focuses on Argentina, where economic growth trajectory is embedded with high CO₂ emissions. This study assesses the long-term and causal impact of financial development and renewables on environmental pollution while accounting for the role of economic development and globalization using yearly data spanning 1980 to 2017. A battery of econometric methods is applied to underscore the interaction between the parameters of interest. The findings of Maki and ARDL tests of cointegration alongside Kripfganz and Schneider critical approximation p-values affirm long-run equilibrium interaction between variables. The outcomes of autoregressive distributed lag, fully modified, and dynamic ordinary least squares demonstrate that while economic expansion dampens environmental quality-globalization and renewables improve the environment. This finding suggests pollution-driven economic growth trajectory in Argentina with high dependence on fossil fuels. Besides, the gradual shift causality test finds evidence of one-way causality from renewable energy consumption, economic growth, and globalization to CO₂ emissions. Argentina's pathway in achieving sustainable development requires gradual and inclusive economic shift towards green growth.

Decoupling Analysis between Economic Growth and Air Pollution in Key Regions of Air Pollution Control in China

The Chinese government has implemented a number of environmental policies to promote the continuous improvement of air quality while considering economic development. Scientific assessment of the impact of environmental policies on the relationship between air pollution and economic growth can provide a scientific basis for promoting the coordinated development of these two factors. This paper uses the Tapio decoupling theory to analyze the relationship between regional economic growth and air pollution in key regions of air pollution control in China—namely, the Beijing–Tianjin–Hebei region and surrounding areas (BTHS), the Yangtze River Delta (YRD), and the Pearl River Delta (PRD)—based on data of GDP and the concentrations of SO2, PM10, and NO2 for 31 provinces in China from 2000 to 2019. The results show that the SO2, PM10, and NO2 pollution in the key regions show strong and weak decoupling. The findings additionally indicate that government policies have played a significant role in improving the decoupling between air pollution and economic development. The decoupling between economic growth and SO2 and PM10 pollution in the BTHS, YRD, and PRD is better than that in other regions, while the decoupling between economic growth and NO2 pollution has not improved significantly in these regions. To improve the relationship between economic growth and air pollution, we suggest that the governments of China and other developing countries should further optimize and adjust the structure of industry, energy, and transportation; apply more stringent targets and measures in areas of serious air pollution; and strengthen mobile vehicle pollution control.

Do public-private partnerships in energy and renewable energy consumption matter for consumption-based carbon dioxide emissions in India?

The present study explores the effect of renewable energy consumption and public-private partnership investment in energy on consumption-based carbon dioxide emissions for India from 1990Q1 and 2015Q4 whilst controlling technology innovation and economic growth. The study employs the Maki cointegration, Bayer-Hanck cointegration, fully modified ordinary least squares, dynamic ordinary least squares, and frequency-domain causality tests to explore these dynamics. The outcomes of the present study reveal that (i) there is a long-run cointegration equation between consumption-based carbon dioxide emissions and its possible determinants; (ii) whilst renewable energy consumption is beneficial for lowering consumption-based carbon dioxide emissions, public-private partnership investment in energy makes a positive contribution to consumption-based carbon dioxide emissions in the long-run; and (iii) public-private partnership investment in energy and renewable energy consumption also significantly causes consumption-based carbon dioxide emissions at different frequency levels in India. The present study recommends that policymakers in India should apply a series of policies to discourage the use of non-renewable energy and raise the share of renewable energy in order to reduce consumption-based carbon dioxide emissions in the country. The present study also recommends that public-private partnership investment in renewable energy should increase to achieve cleaner production processes.

The dynamic linkage between globalization, financial development, energy utilization, and environmental sustainability in GCC countries

This study investigates the impact of globalization, financial development, and energy utilization on environmental sustainability in the Gulf Cooperation Council (GCC) countries. GCC countries are currently experiencing higher demand and utilization of energy resources, high global integration, and improvements in the financial sector that poses serious environmental sustainability challenges. We have employed a relatively comprehensive proxy, i.e., ecological footprint for environmental sustainability and more advanced and robust econometric strategies (second-generation) to examine the impact of globalization, financial development, and energy utilization on environmental sustainability in the GCC countries, which have a significant departure from the extant literature. The results of this study show that globalization, financial development, and energy utilization are significantly deteriorating the environmental quality in the GCC countries. Additionally, in order to account for the national heterogeneity, we have performed country-specific analysis and interestingly, results reveal that globalization, financial development, and energy utilization negatively influence the environmental sustainability in each sample country that is consistent with the findings of overall panel. Furthermore, the findings are robust to various robustness checks that we have performed for checking the reliability of our main findings. This study also offers some useful policy implications to the stakeholder in general and specifically concerning the GCC countries for promoting their environmental sustainability.

Investigating the environmental effect of globalization: Insights from selected industrialized countries

Despite the burgeoning literature on the globalization-environmental degradation nexus, this area of empirical interest is still riddled with ambiguity. Thus, based on an extended Stochastic Impacts by Regression on Population, Affluence and Technology (STIRPAT) model, we re-investigate the effect of globalization on environmental degradation for 27 selected industrialized countries over the period 1991-2016. More specifically, we shed light into how overall globalization and its various components - economic, social and political globalization - affect environmental degradation. We advance existing literature by considering a measurement approach which disaggregates overall, economic, social and political globalization into their de facto and de jure aspects. Using the augmented mean group estimator, we find that overall and economic globalization reduce environmental degradation while social and political globalization do not exert any significant effect on globalization. With respect to the de facto and de jure aspects, we observe that, while only de facto economic globalization mitigates environmental degradation, de jure overall, economic and social globalization also dampen environmental degradation. We provide some policy implications in the end.

Financial Development and Environmental Regulations: The Two Pillars of Green Transformation in China

Awareness of the influence of environmental regulations and financial development on green technological progress by Chinese enterprises will help to promote the green transformation of China’s economy, thereby comprehensively enhancing the quality and competitiveness of its economic development. This paper constructs a theoretical framework to analyze environmental regulation, financial development, and green technological progress and studies the relationship among these three indicators using 2004–2018 data from Shandong province. The results show that environmental regulations and financial development both play roles in promoting green technological progress, but as environmental regulation becomes stronger, the effects of finance on green technological progress begin to differ across regions. The results partially verify the applicability of the Porter hypothesis in China, providing a reference for all levels of government to formulate scientific and reasonable environmental rules and policies.

Rethinking electricity consumption and economic growth nexus in Turkey: environmental pros and cons

The critical role of electricity consumption in influencing and reshaping the economic and environmental landscape of the global economy cannot be underestimated. Electricity is the most beneficial and commonly transformed energy source; however, the strength, weakness, opportunities and threat of its consumption require scientific scrutiny. This study investigates electricity-led growth hypothesis vis-à-vis its impact on economic growth and environmental quality of Turkey. The annual time series data set from 1970 to 2014 were employed in the analysis with a battery of unit root and stationary tests. The equilibrium relationship in the study is explored using Maki and Bayer-Hanck combined cointegration tests under multiple structural breaks along with the Pesaran's ARDL bounds test procedure for robust check. The study confirms the existence of cointegration relationship between electricity consumption, economic growth, capital, labour and ecological footprint. To detect the direction of causal relations, the VECM Granger causality test is employed. The causality analysis provides empirical evidence that supports the electricity-induced growth hypothesis in Turkey. This implies that embarking on conservative energy-efficient policies will slow down Turkey's economic growth. Thus, precautionary measures that ensure adequate policy on energy mix to guarantee availability and accessibility to modern electricity will sustain economic growth and improve environmental sustainability.

Carbon emission effect of energy transition and globalization: inference from the low-, lower middle-, upper middle-, and high-income economies

The importance of income to environmental sustainability especially in the perspective of economic development has been rigorously examined in recent times. To further deepened the income-environmental sustainability narrative, the current study explore the cases of income-classified countries vis-à-vis the high-income, low-income, lower middle-income, and the upper middle-income countries and territories. As such, the current study examined the impact of renewable energy and fossil fuel energy consumption and globalization on CO₂ emissions over the period of 1970 to 2014 for the case of (1) the panel of income-classified countries and territories and (2) the time series of each of the income-classification. By employing the Pooled Mean Group of the Autoregressive Distributed Lag (ARDL) approach, the study found that fossil fuel consumption in the panel of examined income classification aggravates environmental hazards in both the short-long run, while the share of renewable energy usage improves the environmental quality only in the short run. Like the renewable energy consumption, globalization exacts negative and positive impacts in the short run and long run, respectively. From the second (time series) approach, the study found that fossil fuel energy worsen the environment in each of the fours income-categorized economies. Similarly, renewable energy usage exerts a significant and desirable impact on the environment in all but one (lower middle income) of the four income-categorized economies. However, globalization observably plays a significant and desirable role only in the lower middle-income economies. Hence, the study posits policy guide in the context of increased diversification of energy portfolio for each of the four income-categorized countries and territories especially the lower middle-income economies.