Novel research methods to evaluate renewable energy and energy-related greenhouse gases: evidence from BRICS economies

Energy transition and environmental stability prospects for OECD economies: The prominence role of environmental governance, and economic complexity: Does the geopolitical risk matter?

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.

Re-evaluating the impacts of green innovations and renewable energy on carbon neutrality: Does social inclusiveness really matters?

This study explores the impact of green innovation and renewable energy on carbon emissions, considering the mediating role of social inclusivity for a panel of 24 countries in the Organization for Economic Co-operation and Development (OECD) from 1994 to 2019. The empirical strategy is framed in a generalized method of moments dynamic panel, which is novel for assessing the short- and long-term relationships among the variables. By controlling for confounders, we assessed the mechanism by which green innovation and renewable energy contribute to carbon emissions. Furthermore, for consistency with prior empirical research, we extended the analysis using alternative statistical specification by Hausman-Taylor and the feasible generalized least squares, which controls for potential endogeneity issues and cross-panel correlation. Our results are relatively mixed: our analysis suggests that green innovation and economic growth are positive and statistically significant predictors of carbon emissions. However, renewable energy and social inclusiveness were both negative and significant predictors of carbon emissions. These results suggest that renewable energy and social inclusiveness can serve as remedies for promoting environmental quality and reducing carbon emissions in OECD countries. Therefore, we recommend promoting the expansion of renewable energy at a lower cost to unserved and underserved communities and promoting social inclusiveness to achieve a net zero emission target.

The role of trust, information and legal stability in the development of renewable energy: the analysis of non-economic factors affecting entrepreneurs' investments in green energy in Poland

The aim of the article is to analyse the factors influencing entrepreneurs' decisions about investing in renewable energy. It outlines a number of different factors that may affect the process of transforming entrepreneurs into business prosumers, who thus want to limit the effects of rising energy prices. The article defends the thesis that in addition to the economic, technological and psychological dimensions, legal and political stability, access to reliable information and the level of trust in a given society are equally important. Based on the quantitative research results, the article indicates which elements are particularly important for entrepreneurs when making decisions about investing in renewable energy and which institutions are indicated by Polish entrepreneurs as responsible for implementing energy transition. The article also indicates that information about the possibility of receiving funding from the European Union and the government, the government's energy policy and technological possibilities is important for entrepreneurs' decisions about investing in renewable energy in Poland. It is always difficult to implement sustainable development goals without an atmosphere of trust and predictable legal stability in which entrepreneurs can run their businesses.

Supplementary Information

The online version contains supplementary material available at 10.1007/s10668-023-03400-z.

Environmental quality and energy transition prospects for G-7 economies: The prominence of environment-related ICT innovations, financial and human development

Energy transition and reducing greenhouse gas emissions are fundamental to achieving sustainable development and ensuring a bright and healthy future. To contribute to the empirical literature on these objectives, this study explores the long-term influence of environment-related ICT innovations (EICT) on energy transition and greenhouse gas emissions (GHGE) in G-7 economies for the first time, while considering financial development (FD) and human development (HD). Additionally, the study investigates the moderating role of FD with EICT and HD in energy transition and GHGE. Using a Cross-Sectional Augmented Distributed Lag (CS-ARDL) technique to tackle the issues of cross-sectional dependency and slope heterogeneity, the study evaluated data from 1990 to 2020. The results indicate that EICT, FD, and HD have a significant positive effect on long-term energy transition, and mitigate GHGE in G-7 economies. Furthermore, the influence of EICT and HD on energy transition and GHGE is amplified in the presence of financial development, as evidenced by the moderating effect of FD. Based on these facts, the study suggests various policy measures, such as investing in clean technologies and education, to promote the energy transition and environmental quality in G-7 economies to achieve sustainable development goals.