1
|
Song Y, Li L, Shahbaz M, Bukhari AAA. Does an environmental stringent policy really matter to achieve environmental sustainability in BRICS-T region? Evidence from novel method of moments quantile regression approach. JOURNAL OF ENVIRONMENTAL MANAGEMENT 2024; 368:121898. [PMID: 39121622 DOI: 10.1016/j.jenvman.2024.121898] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 06/12/2024] [Revised: 07/01/2024] [Accepted: 07/14/2024] [Indexed: 08/12/2024]
Abstract
Amidst pressing global environmental challenges, exacerbated by climate change and the imminent threat of global warming, there is a critical need to assess the efficacy of environmental policies. This study centers its attention on the pivotal role of these policies in addressing environmental concerns. Specifically, our research aims to scrutinize the impact of stringent environmental policies on environmental quality under the theoretical underpinnings of environmental Kuznets curve. To achieve this objective, the study collected data from BRICS-T economies over the period of 1990-2020. This study employed the method of moments quantile regression technique for empirical analysis. Our study validates the presence of the Environmental Kuznets curve (EKC hypothesis). Empirical findings reveal the sustained significance of environmental stringency across all quantiles, demonstrating a positive correlation in lower quantiles and a negative correlation in higher quantiles. At lower quantiles, the impact is insignificant initially, but pronounced due to efficiency improvements induced by stringent policies. The effects became negative at middle quantiles, indicating stringent policies might encounter diminishing returns where policy measures start stabilizing ecological impacts. At higher quantiles, the influence of ESI remains significant, reflecting ongoing adaptations in larger economies with higher ecological footprints. This suggests the potential effectiveness of stringent regulatory measures in mitigating environmental impacts and reducing ecological footprints. The identified inverted U-shaped curve signifies that while stringent policies may not inherently enhance environmental health, beyond a certain threshold, they can indeed contribute to its improvement. Our policy recommendation advocates for the widespread adoption and promotion of such stringent measures to safeguard environmental health.
Collapse
Affiliation(s)
- Yanan Song
- School of Management, Xinxiang University, Xinxiang, 453003, China
| | - Lijie Li
- School of 3D Printing, Xinxiang University, Xinxiang, 453003, China
| | - Muhammad Shahbaz
- School of Economics, Beijing Institute of Technology, Beijing, China; GUST Center for Sustainable Development (CSD), Gulf University for Science and Technology, Hawally, Kuwait.
| | | |
Collapse
|
2
|
Rahman T, deb N, Alam MZ, Moniruzzaman M, Miah MS, Horaira MA, Kamal R. Navigating the contemporary landscape of food waste management in developing countries: A comprehensive overview and prospective analysis. Heliyon 2024; 10:e33218. [PMID: 39022034 PMCID: PMC11252753 DOI: 10.1016/j.heliyon.2024.e33218] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [Track Full Text] [Figures] [Journal Information] [Subscribe] [Scholar Register] [Received: 02/01/2024] [Revised: 06/15/2024] [Accepted: 06/17/2024] [Indexed: 07/20/2024] Open
Abstract
This study employs a comparative analysis method to examine variations in food waste (FW) generation between developed and developing nations, focusing on income levels, population growth rates, and community engagement in waste management. Quantitative data from Taiwan, Malaysia, and Bangladesh are comprehensively analyzed using regression analysis and descriptive statistics. Results indicate that Taiwan, with its stringent regulatory frameworks and advanced recycling technologies, generates significantly less FW per capita compared to Malaysia and Bangladesh. Malaysia shows moderate levels of FW reduction efforts, supported by varying degrees of community participation, whereas Bangladesh faces challenges with both regulatory enforcement and technological adoption. The study proposes an integrative waste management model emphasizing regulatory compliance rates, community participation metrics, and technology diffusion indices to effectively address FW challenges. These findings underscore the importance of tailored waste management strategies aligned with economic and demographic contexts of developing nations. Policymakers and waste management practitioners can leverage these insights to establish targeted FW reduction goals and enhance recycling initiatives. The research highlights the urgency of integrated waste management approaches to mitigate environmental and public health risks associated with FW mismanagement, advocating for evidence-based policies supported by robust quantitative analysis.
Collapse
Affiliation(s)
- Tawfikur Rahman
- Department of Electrical and Electronics Engineering, International University of Business Agriculture and Technology, Uttara, Dhaka, 1230, Bangladesh
- Bioenvironmental Engineering Research Center (BERC), Department of Chemical Engineering and Sustainability, Faculty of Engineering, International Islamic University Malaysia, 50728, Kuala Lumpur, Malaysia
| | - Nibedita deb
- College of Agricultural Sciences, International University of Business Agriculture and Technology, Uttara, Dhaka, 1230, Bangladesh
| | - Md Zahangir Alam
- Bioenvironmental Engineering Research Center (BERC), Department of Chemical Engineering and Sustainability, Faculty of Engineering, International Islamic University Malaysia, 50728, Kuala Lumpur, Malaysia
| | - Md Moniruzzaman
- Department of Electrical and Electronics Engineering, International University of Business Agriculture and Technology, Uttara, Dhaka, 1230, Bangladesh
| | - Md Shohidullah Miah
- College of Agricultural Sciences, International University of Business Agriculture and Technology, Uttara, Dhaka, 1230, Bangladesh
| | - Mohammad Abu Horaira
- College of Tourism and Hospitality Management (CTHM), International University of Business Agriculture and Technology, Uttara, Dhaka, 1230, Bangladesh
| | - Reashad Kamal
- Department of Pharmacy, Daffodil International University, Dhaka, Bangladesh
| |
Collapse
|
3
|
Li X, Zhang Y, Zhou S, Zhao Z, Zhao Y. Exploration and future trends on spatial correlation of green innovation efficiency in strategic emerging industries under the digital economy: A social network analysis. JOURNAL OF ENVIRONMENTAL MANAGEMENT 2024; 359:121005. [PMID: 38710147 DOI: 10.1016/j.jenvman.2024.121005] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 08/07/2023] [Revised: 03/11/2024] [Accepted: 04/21/2024] [Indexed: 05/08/2024]
Abstract
With digital technological change and the increasing frequency of interregional innovation links, the spatial correlation and diversity of strategic emerging industries' green innovation efficiency (SEI-GIE) need to be explored in depth. This paper innovatively constructs the SEI-GIE input-output index system under digital economy. The proposed grey model FINGBM(1,1) with ω-order accumulation and weighted initial value optimization realizes effective prediction of 7 input-output indicators of 30 provinces in China from 2021 to 2025. Super-SBM-DEA, gravity model, and social network analysis are applied to explore spatial network structure's dynamic process of SEI-GIE from 12th to 14th Five-Year-Plan period (2011-2025). Empirical results show that (1) Under the effect of digital economy, the SEI-GIE in China generally shows a U-shaped fluctuation trend, in which the growth trend in the central region is obvious, and the western region shows significant fluctuations. (2) The spatial correlation network of SEI-GIE presents a complex and stable center-periphery circle. Particularly, the overall increase in network efficiency highlights the strong small-world characteristics. (3) Beijing, Shanghai, Zhejiang and Jiangsu have always been in the leading core position, with strong influence and control; And Tianjin's core position in the network will decline. Additionally, Guangxi and Chongqing have great potential, but Guangdong needs to strengthen its radiation effect. (4) Block model shows that plate-I (Beijing, Tianjin) receive spatial spillovers from others, while plates-III,IV have significant spillover effects. This study provides theoretical reference for policymakers from a network perspective to promote development of China's SEI-GIE.
Collapse
Affiliation(s)
- Xuemei Li
- School of Economics, Ocean University of China, Qingdao, 266100, China; Institute of Marine Development, Ocean University of China, Qingdao, 266100, China.
| | - Yuchen Zhang
- School of Economics, Ocean University of China, Qingdao, 266100, China.
| | - Shiwei Zhou
- School of Economics, Ocean University of China, Qingdao, 266100, China; Institute of Marine Development, Ocean University of China, Qingdao, 266100, China.
| | - Zhiguo Zhao
- School of Economics, Ocean University of China, Qingdao, 266100, China.
| | - Yufeng Zhao
- Institute of Marine Development, Ocean University of China, Qingdao, 266100, China; School of Management, Ocean University of China, Qingdao, 266100, China.
| |
Collapse
|
4
|
Suo R, Wang Q, Tan Y, Han Q. An innovative MGM-BPNN-ARIMA model for China's energy consumption structure forecasting from the perspective of compositional data. Sci Rep 2024; 14:8494. [PMID: 38605041 PMCID: PMC11009293 DOI: 10.1038/s41598-024-58966-z] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [Grants] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Received: 12/06/2023] [Accepted: 04/05/2024] [Indexed: 04/13/2024] Open
Abstract
Effective forecasting of energy consumption structure is vital for China to reach its "dual carbon" objective. However, little attention has been paid to existing studies on the holistic nature and internal properties of energy consumption structure. Therefore, this paper incorporates the theory of compositional data into the study of energy consumption structure, which not only takes into account the specificity of the internal features of the structure, but also digs deeper into the relative information. Meanwhile, based on the minimization theory of squares of the Aitchison distance in the compositional data, a combined model based on the three single models, namely the metabolism grey model (MGM), back-propagation neural network (BPNN) model, and autoregressive integrated moving average (ARIMA) model, is structured in this paper. The forecast results of the energy consumption structure in 2023-2040 indicate that the future energy consumption structure of China will evolve towards a more diversified pattern, but the proportion of natural gas and non-fossil energy has yet to meet the policy goals set by the government. This paper not only suggests that compositional data from joint prediction models have a high applicability value in the energy sector, but also has some theoretical significance for adapting and improving the energy consumption structure in China.
Collapse
Affiliation(s)
- Ruixia Suo
- College of Management, Xi'an University of Science and Technology, Xi'an, 710054, China.
| | - Qi Wang
- College of Management, Xi'an University of Science and Technology, Xi'an, 710054, China
| | - Yuanyuan Tan
- College of Management, Xi'an University of Science and Technology, Xi'an, 710054, China
| | - Qiutong Han
- College of Management, Xi'an University of Science and Technology, Xi'an, 710054, China
| |
Collapse
|
5
|
Arjun, Mishra BR, Tiwari AK. Exploring the asymmetric effect of fiscal policy instruments in encountering environmental degradation: proposing an SDG framework for India. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2024; 31:25907-25928. [PMID: 38488917 DOI: 10.1007/s11356-024-32756-6] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 09/26/2023] [Accepted: 02/29/2024] [Indexed: 03/17/2024]
Abstract
Asian countries are facing difficulties in attaining sustainable development goals (SDGs), and India is not an exception to it, with environmental degradation being one of the primary issues. Therefore, a policy-level reorientation may be required to address it. From this standpoint, fiscal policy instruments may come in handy towards fully integrating the SDGs into its agenda. The present investigation designs an SDG framework for India that could serve as an example for other Asian nations. This study introduces a new investigation exploring the relationship between fiscal policy instruments and environmental quality in India by examining the environmental Kuznets curve (EKC) hypothesis from 1990 to 2021. A nonlinear autoregressive distributed lag (NARDL) model is applied for empirical examination. The findings indicate that positive and negative shocks in fiscal policy instruments have significant impact on carbon emissions in both the long and short run. The study has also found evidence of an "inverted U-shape" EKC for India. These results are valuable from a policy perspective for India and other Asian countries to address environmental issues. The study has also outlined potential outcomes that may benefit India's fiscal policy in resolving environmental issues and attaining better economic growth. In the end, the study proposes a policy framework that supports SDG 7, SDG 8, SDG 12, SDG 13, and SDG 17 objectives.
Collapse
Affiliation(s)
- Arjun
- Department of Humanities and Social Sciences, Visvesvaraya National Institute of Technology, Nagpur, 440010, India.
| | - Bibhuti Ranjan Mishra
- Department of Humanities and Social Sciences, Visvesvaraya National Institute of Technology, Nagpur, 440010, India
| | - Aviral Kumar Tiwari
- Department of Economics, Indian Institute of Management, Bodh Gaya, Bihar, 824234, India
| |
Collapse
|
6
|
Lian C, Pei J, Zheng S, Li B. How does trade policy uncertainty affect green innovation in the USA and China? A nonlinear perspective. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2024; 31:19615-19634. [PMID: 38363502 DOI: 10.1007/s11356-024-31954-6] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 07/06/2023] [Accepted: 01/06/2024] [Indexed: 02/17/2024]
Abstract
Green innovations are the most critical factor in promoting environmental sustainability worldwide. Trade can speed up the adoption of green innovations by facilitating the transfer of information, skills, and technology. However, trade policy uncertainty can create significant challenges for businesses investing in eco-innovations, leading to increased risk, reduced investment, and slower progress toward sustainable technologies. Recently, a growing number of researchers have shown their interest in finding the factors that can impact green innovations, but none have investigated the influence of trade policy uncertainty on green innovations in the USA and China. In addition, none of the past studies has relied on the nonlinear assumption. This analysis fills these gaps by examining the nonlinear impacts of trade policy uncertainty on eco-innovations in China and the USA over 2000Q1-2021Q4 by employing a nonlinear ARDL model. The finding reveals that a positive shock in trade policy uncertainty results in a decrease in green innovation in the USA and China, while a negative shock in trade policy uncertainty leads to an increase in green innovation in the USA over the long run. The nonlinear models also indicate that a positive shock in trade policy uncertainty harms green innovation in both the USA and China in the short run. The robustness of these results is confirmed by the NQARDL model, which confirms that an upsurge in trade policy uncertainty lowers green innovation in most quantiles in the USA and China in the short and long run. Conversely, negative shocks in trade policy uncertainty stimulate green innovation at most quantiles in both China and the USA, in the short and long run. Thus, policymakers need to consider the potential impact of trade policies on eco-innovations and work to create stable and predictable trade environments that support the growth of renewable technologies and other sustainable solutions.
Collapse
Affiliation(s)
- Chao Lian
- School of Marxism, Guangxi Normal University, Guilin, 541004, China
| | - Jinping Pei
- Business School, Guilin University of Electronic Technology, Guilin, 541004, China.
| | - Shiyong Zheng
- Business School, Guilin University of Electronic Technology, Guilin, 541004, China
| | - Biqing Li
- Business School, Guilin University of Electronic Technology, Guilin, 541004, China
| |
Collapse
|
7
|
Bakhsh S, Zhang W, Ali K, Anas M. Energy transition and environmental stability prospects for OECD economies: The prominence role of environmental governance, and economic complexity: Does the geopolitical risk matter? JOURNAL OF ENVIRONMENTAL MANAGEMENT 2024; 354:120358. [PMID: 38412728 DOI: 10.1016/j.jenvman.2024.120358] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 09/20/2023] [Revised: 01/10/2024] [Accepted: 02/08/2024] [Indexed: 02/29/2024]
Abstract
The global increase in temperature and climate change signals the need for humanity to reduce greenhouse gas emissions and to adopt eco-friendly lifestyles. The 2023 United Nations Climate Change Conference (COP28) in the UAE emphasized this, urging nations to commit to the Paris Agreement and pursue a greener, carbon-free future. In recent decades, climate change has become a critical issue, primarily because of the extensive use of fossil fuels and conventional energy resources. Economic growth has led to an increase in energy consumption and widespread environmental damage. The present study empirically explores whether any changes in environmental governance, economic complexity, geopolitical risk, and the interaction term influence energy transition and environmental stability in OECD economies over the period 1990-2021. Novel econometric methods, including Westerlund co-integration and the Method of Moments Quantile Regression (MMQR), are employed to address complexities such as cross-sectional dependency and panel causality. The key findings from the MMQR technique showed a positive link between environmental governance and economic complexity in driving sustainable energy transitions, thus bolstering environmental resilience in OECD countries. However, economic complexity counterbalances environmental stability. Significantly, geopolitical risk acts as a moderating variable, enhancing the effects of governance and complexity on sustainable energy practices and environmental stability. Based on these insights, this study recommends strategic initiatives, including investment in eco-friendly technologies, to fast-track the shift to clean energy and strengthen environmental resilience in OECD countries. These strategies align with the broader objectives of global sustainable development, offering a path towards a greener and more sustainable future.
Collapse
Affiliation(s)
- Satar Bakhsh
- School of Economics and Management, China University of Geosciences, Wuhan, PR China.
| | - Wei Zhang
- School of Economics and Management, China University of Geosciences, Wuhan, PR China.
| | - Kishwar Ali
- School of Management, Jiangsu University, PR China.
| | - Muhammad Anas
- School of Economics and Management, China University of Geosciences, Wuhan, PR China
| |
Collapse
|
8
|
Mighri Z, Sarkodie SA. Interdependency and causality between green technology innovation and consumption-based carbon emissions in Saudi Arabia: fresh insights from quantile-on-quantile and causality-in-quantiles approaches. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2024; 31:9288-9316. [PMID: 38190064 DOI: 10.1007/s11356-023-31571-9] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Grants] [Track Full Text] [Subscribe] [Scholar Register] [Received: 05/21/2023] [Accepted: 12/11/2023] [Indexed: 01/09/2024]
Abstract
In this paper, we examined the asymmetric dynamics and causality of technological progress--proxied by green technology innovation--on both consumption-based carbon (CCO2) and territory-based carbon (TCO2) emissions in Saudi Arabia using quarterly data from 1990Q1 to 2021Q4. Our initial results reject the normality and linearity assumptions of data series and thus emphasize that the observed associations are quantile dependent. We firstly utilized the quantile-on-quantile regression (QQR) approach to draw the interdependency between green technology innovation and both CCO2 and TCO2 emissions. We found a strong emission-mitigating impact of green technology innovation only at (extreme) upper emission levels. We also identified a weak positive effect at (extreme) higher emission quantiles. Furthermore, we found that higher emission levels are linked with lower green technology innovation across all emission quantiles whereas a weak positive effect is perceived at lower and medium emission quantiles. We further utilized linear and nonlinear Granger causality-in- quantiles (GCQ) tests to capture an entire picture of the impact of green technology innovation on both CCO2 and TCO2 emissions. Under linear specifications of the quantile regression model, we found evidence of strong bidirectional causality between carbon emissions and green technology innovation across lower and upper quantiles. However, we found unidirectional causalities from carbon emissions to green technology innovation at medium quantiles of the conditional distribution. Besides, there is no causality at both extreme lower and extreme upper quantiles. Under nonlinear specifications of the quantile regression model, we found a weak unidirectional causality from green technology innovation to carbon emissions at (extreme) lower quantiles. We also found a weak unidirectional causality from carbon emissions to green technology innovation at medium and extreme upper quantiles. Overall, our findings indicate that green technology innovation helps abate both CCO2 and TCO2 emissions in Saudi Arabia. Our study shows policies that target green technology innovation would significantly change carbon emissions.
Collapse
Affiliation(s)
- Zouheir Mighri
- College of Business, University of Jeddah, Jeddah, Saudi Arabia.
| | | |
Collapse
|
9
|
Yasmeen R, Tao R, Shah WUH, Shair W. Repercussions of environmental policy stringency on carbon, energy and non-energy productivity in highly emerging economies: perspective of green growth. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2024; 31:4500-4517. [PMID: 38103134 DOI: 10.1007/s11356-023-31424-5] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 08/15/2023] [Accepted: 12/04/2023] [Indexed: 12/17/2023]
Abstract
Emerging economies have prioritized the enhancement of carbon and energy productivity to uphold environmental integrity. Consequently, the policymakers introduced the environmental policy stringency measure to control emission activities. Accordingly, this study explores the environmental stringency policy's impact on carbon, energy, and non-energy productivity over the period of 1995-2020. This study addresses the impact of environmental policy stringency on quality of life (exposure to environmental risk). Regardless of variation, growing economies have higher carbon productivity. It is worth noting that energy productivity compared to carbon is higher. Based on the findings derived from the CS-ARDL model, it can be concluded that environmental stringency policies significantly positively impact carbon productivity in emerging countries. Economies that implement stringent environmental rules have the potential to enhance both energy and non-energy productivity to a greater extent. Meanwhile, the environmental policy effectively reduces environmental risk exposure and increases the quality of life. Environmental technology is inefficient in promoting emerging economies' environmental productivity. Similarly, trade promotes carbon activities and may involve comparative advantage race, pollution heaven hypothesis possible to exist. This study provides empirical evidence supporting the notion that investing in human capital is crucial in enhancing productivity. The findings suggest a more comprehensive and integrated approach to environmental policy in rising economies. This all-encompassing strategy is considered crucial for making significant gains in carbon productivity and simultaneously promoting sustainable green growth.
Collapse
Affiliation(s)
- Rizwana Yasmeen
- School of Economics and Management, Panzhihua University, Panzhihua, 617000, Sichuan, China
| | - Rui Tao
- School of Economics and Management, Panzhihua University, Panzhihua, 617000, Sichuan, China
| | - Wasi Ul Hassan Shah
- School of Management, Zhejiang Shuren University, Hangzhou, China.
- Department of Economics, University of Religions and Denominations, Qom, 37491-13357, Iran.
| | - Waqas Shair
- School of Economics and Finance, Minhaj University, Lahore, Pakistan
| |
Collapse
|
10
|
Ren Q, Pei J. Do green financial and non-financial policies achieve the carbon neutrality target? ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2023; 30:97965-97976. [PMID: 37603239 DOI: 10.1007/s11356-023-28996-7] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 04/14/2023] [Accepted: 07/22/2023] [Indexed: 08/22/2023]
Abstract
Due to the pressing need to combat climate change, reaching carbon neutrality-defined as having net-zero greenhouse gas emissions-has elevated to the status of a worldwide priority. While non-financial policies concentrate on regulation and incentives to promote environmentally friendly behavior, green financial policies strive to move investment toward low-carbon and sustainable initiatives. Therefore, the study aims to examine how green financial and non-financial policies affect carbon neutrality in China from 1995 to 2021. For analyzing the linear and nonlinear estimates, the study has employed the autoregressive distributed lag (ARDL) and nonlinear autoregressive distributed lag (NARDL) frameworks. The findings suggest that in the linear framework, green finance policies and environmental policy stringency encourage renewable energy consumption and discourage CO2 emissions. In the nonlinear framework, the positive shocks in the green finance policies and environmental policy stringency increase renewable energy consumption, and the negative shock in both types of policies discourages renewable energy consumption. In the CO2 model, a positive shock in green finance policies and environmental policy stringency reduces CO2 emissions, and a negative change in both these policies is insignificant. Since the positive and negative changes in both these policies significantly and differently impact renewable energy consumption and CO2 emissions; thus, policymakers should take into account positive and negative changes in both these policies while formulating policies for carbon neutrality targets in China.
Collapse
Affiliation(s)
- Qingcheng Ren
- Academic Affairs Office, Minzu University of China, Beijing, 100081, China.
| | - Jipeng Pei
- Policy and Economy Research Institute, China Academy of Information and Communications Technology, Beijing, 100191, China
| |
Collapse
|
11
|
Mar'I M, Seraj M, Tursoy T. Investigating the Causality Between Financial Development and Carbon Emissions: A Quantile-Based Analysis. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2023; 30:92983-93001. [PMID: 37501031 DOI: 10.1007/s11356-023-28971-2] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 04/24/2023] [Accepted: 07/20/2023] [Indexed: 07/29/2023]
Abstract
The relationship between financial development and environmental sustainability has received significant attention in academic discourse. This study explores the crucial role of financial development in addressing the challenge of increasing CO2 emissions. Using quantile-on-quantile and nonparametric causality-in-quantile methodologies, this research investigates the impacts and causal links between financial market and institution development and CO2 emissions levels in five major polluting countries from 1990 to 2019. The findings provide strong evidence regarding the impact of financial institutions and financial market development on CO2 emissions, demonstrating the presence of shocks and nonparametric causality from financial institutions and financial market development to CO2 emissions quantiles. However, the effects of financial institution shocks and nonparametric causality are diverse and asymmetric across the sample. Positive and negative shocks are observed in India, while only negative shocks are observed in China, the USA, Russia, and Japan. Moreover, the findings reveal that the influence of financial market development on CO2 emissions varies across countries, with both positive and negative shocks transmitted to CO2 emissions in the USA, Russia, and Japan, indicating higher volatility in these countries compared to China and India, where only negative shocks are observed. Therefore, our recommendation emphasizes the prioritization of environmentally conscious financial products and the enhancement of the financial system's capacity to mitigate positive shocks contributing to increased CO2 emissions. Implementing this strategy requires collective efforts to embrace sustainable financial practices that consider the environmental impact of financial activities.
Collapse
Affiliation(s)
- Muhammad Mar'I
- Department of Banking and Finance, Near East University, Nicosia, Cyprus
| | - Mehdi Seraj
- Department of Economics, Near East University, Nicosia, Cyprus.
| | - Turgut Tursoy
- Department of Banking and Finance, Near East University, Nicosia, Cyprus
| |
Collapse
|
12
|
Yu Y, Xu Y, Zhao X. Environmental management through examining the technical factors of carbon emissions in South Asian economies. JOURNAL OF ENVIRONMENTAL MANAGEMENT 2023; 342:118123. [PMID: 37187073 DOI: 10.1016/j.jenvman.2023.118123] [Citation(s) in RCA: 1] [Impact Index Per Article: 1.0] [Reference Citation Analysis] [Abstract] [Key Words] [Track Full Text] [Subscribe] [Scholar Register] [Received: 01/02/2023] [Revised: 04/09/2023] [Accepted: 05/06/2023] [Indexed: 05/17/2023]
Abstract
COP27 has provided a new direction in overcoming the issue of climate change. In the world of growing environmental degradation and climate change issues, the South Asian economies are playing a vital role in tackling these issues. Still, the literature focuses on industrialized economies while ignoring the newly emerging economies. This study evaluates the technological factors' influence on carbon emission in the four small South Asian economies (Sri Lanka, Bangladesh, Pakistan, and India) from 1989 to 2021. This study found the long-run equilibrium relationship between the variables using second-generation estimating tools. Employing the non-parametric and robust parametric approach, this study found that economic performance and development are substantial emissions drivers. In contrast, energy technology and tech innovation are the region's key environmental sustainability factors. Further, the study found that trade positively yet insignificantly impacts pollution. This study suggests further investment in energy technology and technological innovation to improve the production of energy-efficient products and services in these emerging economies.
Collapse
Affiliation(s)
- Yue Yu
- School of Business Administration, Hunan University of Technology and Business, Changsha, 410205, China
| | - Yong Xu
- Business School, Hunan University, Changsha, 410082, China; Department of Management, Technology and Economics, ETH Zurich, Zurich, 8092, Switzerland
| | - Xin Zhao
- School of Statistics and Applied Mathematics, Anhui University of Finance and Economics, Bengbu, 233030, China.
| |
Collapse
|