The effects of environmental tax on Ecological Footprint and Carbon dioxide emissions: a nonlinear cointegration analysis on Turkey

Do circular economy, public-private Partnership and carbon policy manage the environmental stress? Developed countries' situation under the Prism of COP27

Since the Industrial Revolution, the economies have played well to make progress in economic growth. Besides, rapid growth has brought severe challenges, and environmental degradation is one of them. Therefore, the globe has introduced several green initiatives, such as the Kyoto Protocol, the Paris Agreement, and the Sustainable Development Goals, but the problem remains intact. Specifically, this study focuses on COP27 and highlights the key challenges and their best solutions. Undoubtedly, most nations have tried to meet their settled targets by 2030, but these have different priorities to facilitate their populace. Therefore, international cooperation has been introduced as a logical solution to collaborate across borders or within the region to deal with sustainability themes. However, developed nations have environmental problems due to industrial, income, and population growth, directly associated with environmental risks. Thus, under the SDGs, this empirical research tries to cover the critical problems (income, population aging, & industrial development) and their best alternative (public-private partnership, emission taxes & circular economy) to minimize environmental issues. Similarly, the current study utilizes an advanced series of estimators to investigate the study's objective for 17 developed nations from 2000 to 2021. Investigated outcomes describe income, population aging, and industrial activities that bring carbon emissions. Conversely, carbon policy and public-private partnerships support the sustainability theme for specified economies. Under the base model, the circular economy declines the environmental pressure by 0.016 %, 0.002 %, and 0.019 %, respectively, under the specified estimators. Moreover, this empirical research investigates the mediating role of carbon policy, public-private partnership & circular economy on industrial development. It brings a significant decline in emissions only for carbon policy & circular economy. However, this study also proposes some green policies to become clean & green shortly.

How do carbon emissions and eco taxation affect the equity market performance: an empirical evidence from 28 OECD economies

This study examines the nexus between "stock returns," carbon emissions, and "environmental tax" in 28 OECD countries for the period 1994 to 2014. To this end, we employ second-generation econometric techniques that are robust to macroeconomic and financial datasets to eliminate the issues associated with heterogeneity and cross-sectional dependence. The "common correlated effects mean group (CCEMG)" and "augmented mean group (AMG)" estimators are a pioneering attempt to explore the association between the cross sections. These approaches take into account the complexities of real-world data and provide a more accurate understanding of the relationship between the variables. Several studies explored the relationship between CO2 emissions and economic growth. However, the literature lacks studies examining the impact of "environmental tax" implementation on "stock returns," which is a central policy instrument to curb emissions. The results demonstrate a significant and negative relationship between CO2 emissions and "stock market index returns" and a positive and significant relationship between "environmental tax" and "stock market index returns." Furthermore, both these relationships prevail in the world's biggest financial markets and second largest CO2 emitters, the USA. The empirical findings offer various useful implications for investors, policymakers, brokers, corporations, governmental pollution abatement institutions, and other stakeholders who wish to obtain a carbon risk premium.

The effects of environmental taxes, renewable energy consumption and environmental technology on the ecological footprint: Evidence from advanced panel data analysis

The world faces various challenges in terms of environmental sustainability. An increasing world population, the rigidity of traditional production and consumption patterns, the complexity of economic activities, globalization, and harmful emissions intensify environmental pressures. In this context, the evaluation of various environmental policy instruments is important to alleviate environmental pressures and, thus, combat climate change. This study aims to investigate the impact of environmental taxes, renewable energy consumption, and environmental technology on the ecological footprint in OECD countries by using data from 1994 to 2018 and modern panel data techniques. The results of the AMG estimator indicate that environmental taxation and renewable energy consumption play a role in reducing the ecological footprint; however, results imply that environmental technology does not have a statistically significant effect on the ecological footprint. In addition, we applied DCCE and CS-ARDL estimators to obtain robustness results and observed that the findings remained valid. Therefore, the results of the study suggest that regulations to increase the effectiveness of environmental taxes, renewable energy consumption, and environmental technology should be promoted to ensure environmental sustainability.

Environmental taxes, eco-innovation, and environmental sustainability in EU member countries

Environmental taxes and renewable energy consumption are becoming central policy instruments in countries especially in European Union (EU) countries to enhance environmental sustainability; however, no attention has been given to eco-innovations in the nexus between environmental taxes and carbon dioxide emission. This study investigates the effect of environmental taxes, innovations, and renewable energy consumption on CO2 emissions in 26 EU countries from 2000 to 2020. Panel quantile regression was employed for analysis where the results show that environmental taxes have both positive and negative influence on CO2 emissions across quantiles in different models, whereas renewable energy consumption considerably reduces carbon emissions. Economic growth causes an increase in CO2 emissions; however, the financial progress greatly reduces CO2 emissions. Eco-innovations and its square term have a negative influence on carbon emissions which shows that eco-innovations significantly reduce carbon dioxide emission. The findings have significant implications for public policy in the sample countries, notably in terms of promoting renewable energy sources and transitioning to green growth through eco-innovations in order to achieve environmental sustainability.

Exploring the roles of green finance and environmental regulations on CO2es: defining the roles of social and economic globalization in the next eleven nations

Achieving sustainable environmental growth and preventing further environmental degradation are challenging goals for policymakers. This study looks at environmental laws and green finance's role in fostering a more sustainable environment. The literature still needs to empirically or theoretically investigate how environmental laws and green financing affect carbon dioxide (CO2) emissions, particularly when combined with moderating factors such as social and economic globalization. As a result, this study investigates how environmental laws and green funding can help the N-11 nations cut their CO2 emissions. Our research uses empirical data from a group of the N-11 nations that span the years 2000 to 2019. To handle issues with panel data analysis, such as cross-sectional dependence and slope heterogeneity, we use advanced panel approaches (CIPS and CADF unit root and cointegration test and cross-sectional augmented ARDL). This research demonstrates that green financing (GFI) and environmental laws (ENV) have a negative but significant effect on CO2 emissions. While social globalization moderates the causal relationship between energy consumption and GDP while negatively and significantly causing GFI and ENV with CO2 emissions among the N-11 countries, economic growth has had a positive and significant effect on CO2 emissions in the N-11 countries. According to our research, nations could achieve the SDG-7 and SDG-13 goals if they adopted green financial and environmental policies.