Investigating the Linkage between Economic Growth and Environmental Sustainability in India: Do Agriculture and Trade Openness Matter?

Driving human development through ecological impact for emerging economies: the role of trade openness

The present study attempts to examine the link between trade openness and sustainable human development (SHD) in 19 emerging economies. The study used the data for the period from 1996 to 2019. The study employed fixed-effect regression with Driscoll-Kraay standard error techniques robust to cross-section dependence. The study found the favorable impact of trade openness on sustainable development through sustainable human development. Trade openness affects sustainable human growth in many ways. It is a critical component that should not be ignored in sustainable development policies. Moreover, foreign direct investment, economic growth, and renewable energy consumption positively impact the sustainable human development. In contrast, innovations and institutional quality have an adverse impact on SHD. The study also provides policy suggestions for the emerging economies that will promote all the dimensions of sustainable development: economic, social, and environmental.

Decarbonization through sustainable energy technologies: Asymmetric evidence from 20 most innovative nations across the globe

Since the discharge of carbon is one of the main causes for ongoing global warming issue and change in climate, most nations have committed to decarbonizing their economies at the COP26 summit. Thus, this investigation aims to explore the consequences of innovations in sustainable energy technologies on decarbonization in the 20 most innovative nations across the globe. In assessing the cause-and-effect relationship, we have used “Panel Non-linear Autoregressive Distributed Lag (P-NARDL)” technique. The findings demonstrated that the variables have a lasting relationship. The positive asymmetric shock in the innovations in sustainable energy technologies has a positive influence on the decarbonization of these nations, while the negative asymmetric effect is insignificant. According to the findings, clean energy negatively consequence on carbonization whereas growth in economy is favorably and considerably connected with it. The findings demonstrate that there is bidirectional causation between all variables under investigation, with the exception of the unidirectional causality flows from the usage of sustainable energy technology and emissions of CO2. In a global context, this research suggests that government should identify the roles of new sustainable energy technologies by reforming patenting regulations to rectify the environmental damages.

Assessing industrialized countries' environmental sustainability performances using an integrated multi-criteria model and software

This study seeks to identify and highlight the differences in the environmental sustainability and environmental protection practices of industrialized countries. For this purpose, thirty industrialized countries were examined using a multi-criteria integrated decision model based on fourteen environmental sustainability performance criteria. An open-source software based on the Python that allows different multi-criteria decision-making methods to be used through a user-friendly interface was developed for evaluations. The results from the developed software rank Sweden first and India last in their environmental sustainability performances. Sweden stands out notably in terms of negative greenhouse gas emission technologies, afforestation, reforestation, environmental laws, carbon tax, bioenergy, and national consciousness. India, on the other hand, does not appear to handle environmental problems in a timely and appropriate manner considering its large population and development needs. Development, utilization, and expansion of renewable energy sources, waste recycling, waste reduction, proper waste disposal, and prioritization of the development of technologies with zero or negative greenhouse gas emissions have emerged as significant factors for environmentally friendly industrialization.

Does environmental tax matter for environmental degradation in the Netherlands? Evidence from novel Fourier-based estimators

This paper aims to capture the effect of an environmental tax on environmental degradation in the Netherlands while controlling economic growth, primary energy consumption, and trade in the Netherlands. As part of its climate change plan, the Netherlands government aims to reduce greenhouse gas emissions to industrial levels by 2030 and reach net-zero emissions by 2050. The present study used novel Fourier ADL cointegration, Fourier ARDL, and Fourier TY causality approaches. The outcomes of this study reveal that environmentally related taxes cause the mitigation of environmental degradation in the Netherlands, while primary energy consumption affects environmental sustainability negatively. This study provides policy implications based on the empirical results of this study, which support the Sustainable Development Goals (SDG) of 2030 through (SDG 7) affordable and sustainable energy, (SDG 9) innovation, and (SDG 13) environmental sustainability.

Interrelationship among environmental policy stringency, financial globalization in OECD countries, and CO2 emission with the role of technological innovation and financial development

The study examines the nexus between financial globalization (FG), environmental policy stringency (EPS), financial development (FD), and technological innovation (INV) on CO2 emission with moderating effect of technological innovation on financial development and environmental degradation in 36 OECD countries with an updated dataset from the period of 1990 to 2020 using PMG (Pooled mean group) panel ARDL method. The results of stationarity tests; (Levin, Lin, and Chu test; ADF Fisher test) demonstrate that selected variables are stationary at level I(0) and first difference I(I); this confirms that PMG estimator can be employed. Cointegration tests indicate that cointegration exist among the variables. The empirical findings of the PMG estimator indicate that financial globalization and CO2 are negatively associated with each other. While financial development, environmental policy stringency, and technological innovation have positive impact on environmental degradation in OECD countries. Furthermore, technological innovation strengthens the association between financial development (FD) and environmental degradation (CO2 emission). In order to accelerate economic growth, the study recommends that policymakers should implement environmental policies to achieve low-carbon mechanisms, such as green infrastructure and renewable energy systems, which reduce energy consumption and greenhouse gas emissions. Therefore, it is crucial that the selected OECD countries should develop programs that increase awareness of the risks of carbon emissions.

Unveiling the impacts of geothermal energy growth on food security in EU27 region: an empirical analysis

There are many advantages of geothermal energy, as an environmental friend resource. This heat radiation emanating from beneath the earth's surface presents man with good opportunities to harness it and makes a good level of agricultural food production and its processing in the EU region. The primary objective of this research is to examine the impact of geothermal energy on agri-food supply among the 27 European countries (EU27), within the time frame 1990 to 2021. The study adopted the autoregressive distributed lag (ARDL), and the findings from this study revealed that agri-food supply can increase significantly among the 13 European countries (EU13 emerging economies), leveraging on geothermal energy and economic growth variables than in the EU14 emerged economies. Furthermore, the outcome of this study showed that there could be a significant decrease in the food products coming from agricultural practices among the 13 European countries (EU13 emerging economies), due to an ineffective population density than in EU14 emerged economies. Furthermore, fossil fuel and institutional quality contribute more positively to the agri-food supply in the EU14 emerged economies than in the EU13 emerging economies. This results in an outcome that means that the agri-food supply among the EU13 emerging economies could be greatly boosted by replacing fossil fuel consumption with geothermal energy, and this facilitates the attainment of the European energy goals by the year 2030. Substituting fossil fuels with geothermal will also assist in minimizing the risks of environmental pollution and climate change. All projected calculations were seen as valid in this study, and this was confirmed by the three estimators adopted which are the pooled mean group, the mean group, and the dynamic fixed effect. This study, therefore, recommends that the 27 European countries should lay more emphasis on geothermal energy production as this will help in ensuring food security in the region. Policymakers and other government authorities as well as local and foreign investors should make more investments in geothermal energy resources as this study has proven that this will lead to agri-food security and sustainability. Not only this, it will as well curb the incidence of climate change and environmental pollution.

The linear and nonlinear effects of energy productivity on environmental degradation in Cyprus

This study fills a gap in the relevant literature by exploring the linear and nonlinear effect of energy productivity on environmental degradation based on economic growth, trade openness, and energy consumption variables for the case of Cyprus, over the period from 1990Q1 to 2018Q4. To the best of our knowledge, this is the first study attempt to conduct this nexus for Cyprus, so the empirical findings are likely to shed light on and open a new debate on the subject of environmental sustainability. The empirical findings of the nonlinear autoregressive distributed lag approach revealed that the outcomes of energy productivity instigated a positive (negative) impact on the atmosphere, where a 1% upsurge in positive shock of energy productivity decreased CO₂ emissions (CO₂E) by 0.265%, and a 1% rise in negative shock caused a 0.837% increase in pollution in the long run. GDP is positively related to pollution in both shocks. Trade results disclosed that trade openness stimulated a positive (negative) influence on the atmosphere. A 1% increase in positive shock of trade openness decreased CO₂E by 0.268%, and a 1% growth in negative shock instigated a 0.423% rise in pollution in Cyprus. These results are consistent and supported by both linear and nonlinear techniques. As a part of its long-term climate policy goals, policymakers in Cyprus should invest in energy productivity and R&D that embraces cleaner technology innovations and prioritize cross-cutting environmental technology policies to combat climate challenges.

Does hydropower production influence agriculture industry growth to achieve sustainable development in the EU economies?

There are many advantages of the hydropower industry, as an environmentally friendly resource, and also some challenges that need to be overcome to fully exploit this sustainable and renewable natural resource. The primary objective of this study is to find out the impact of hydropower factors and economic growth on the agriculture industry output among the EU27 nations within the time factor 1990 to 2021. Adopting the autoregressive distributed lag (ARDL), the findings show a significant positive effect could occur in agriculture industry growth of the European Union (EU13)-emerging economies using hydropower factors than in EU14-emerged economies. On one hand, among additional factors, economic growth and institutional quality contribute more positively to agriculture growth in EU13 economies than in EU14 economies. On the other hand, population density contributes more negatively to agriculture growth in EU13 economies than in EU14 economies. The findings show there can be a positive significant growth increase in the EU13 agriculture industry using fossil fuel output than in EU14 economies. The results show that growth could be sustained in the agricultural industry of the European nations by increasing the level of hydropower production as this will help in attaining sustainable development by the year 2030. This will therefore help in mitigating the effect of climatic changes due to environmental pollution. The projected calculations were seen to be reliable and valid and this was attested to by the three estimators used in the study (pooled mean group, mean group, and dynamic fixed effect). This study recommended that European nations could leverage hydroelectricity to achieve sustainable growth and development. The legislative arms of the government of these European nations should as well show more interest in green energy to achieve security and sustainable development in hydroelectricity production. Decision-makers in the EU nations should buttress more emphasis on sustainable means through which hydropower could be used to attain sustainable irrigation systems for the agriculture industry and thus minimize the demand for fossil fuels and reduce CO2-related emissions in the future tine ahead.

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.

Criticality of geothermal and coal energy consumption toward carbon neutrality: evidence from newly industrialized countries

This study examines the long-term effects of coal and geothermal consumption on carbon emission while controlling for globalization and economic growth toward carbon neutrality in newly industrialized countries, including Brazil, China, India, Mexico, Malaysia, the Philippines, South Africa, Turkey, Indonesia, and Thailand for the period of 1990-2008. We compare the resulting relationships from various estimation techniques, such as fixed-effect ordinary least squares, dynamic ordinary least squares, fully modified ordinary least squares, and method of moment quantile regression. Overall, this study determines that the consumption of coal and geothermal energy is a significant determinant with a causal effect on carbon emission. The rise in coal energy consumption significantly increases carbon emission across all quantiles (0.1-0.90), whereas the rise in geothermal energy consumption reduces it across all quantiles (0.1-0.90). This relationship is also consistent across all quantiles (0.1-0.9). Policy suggestions are proposed on the basis of these findings.

Agriculture, globalization, and ecological footprint: the role of agriculture beyond the tipping point in the Philippines

This study is hinged on analyzing factors such as agriculture and globalization (de jure trade and financial) that threaten a sustainable environment using two proxies of ecological footprint: carbon and noncarbon ecological footprint in the Philippines while controlling for the influence of fossil to GDP, economic growth, urban population, and financial development using the autoregressive distributed lag (ARDL) framework. The result provides evidence of long-run stable state among the variables. The result validates inverted U-shaped pattern of EKC involving relationship between agricultural development and ecological footprint for the Philippines indicating that initially, ecological footprint increases as the agriculture develops and then declines as the agriculture matures to generate efficiency and low carbon. In addition, this study explores elasticities of the variables using ARDL, FMOLS, DOLS, and CCR procedure and found that de jure financial globalization exerts positive influence on ecological footprint in the long run. De jure trade globalization is found to be negative and significant in the long run. It is also found that agricultural level operates below the threshold level required to maximize the growth benefits of agricultural system towards mitigating environmental sustainability. Further empirical result shows a positive relationship between economic growth, fossil fuel, urban-population growth, and ecological footprint, and negative insignificant relationship between credit to private sector and ecological footprint. The government should optimize the use of agricultural land through well-articulated economic integration strategy fashioned to pave way for cleaner and low-carbon technologies sources like solar, geothermal, biomass, biogas, tidal power, photovoltaic, and wind energy in the agricultural production to avoid further deterioration of the environment.

Impacts of globalization and energy consumption on environmental degradation: what is the way forward to achieving environmental sustainability targets in Nigeria?

One of the major problems the world is currently facing is climate change. This is due to the use of fossil fuel combustion, which increases the presence of CO₂ emissions and other greenhouse gases in the atmosphere in several countries of the world, which Nigeria is not exempted from. Against this background, this study examines the impacts of globalization, real income, urbanization, and energy consumption on environmental degradation; and proffer way forward to achieving environmental sustainability targets in Nigeria, using quarterly frequency time series data over a period 1971-2018. To achieve our study objectives, this study makes use of quantile-quantile (Q-Q) approach, developed by Sim and Zhou J Bank Financ 55:1-8, (2015). This approach groups together nonparametric estimation and quantile regression. Empirical results show that, in all quantiles, globalization, real income, urbanization, and energy consumption impact positively on environmental degradation. Thus, we are of the opinion that for the nation to achieve any meaningful environmental sustainability targets, (i) it must shift from economic activities that are dependent and driven by non-renewable energy sources; (ii) enact environmental laws and regulations that prevent indigenous and multinationals firms from using non-renewable energy sources in production activities; (iii) discourage rural-urban migration by enacting policies that would improve life in the rural areas, such as diverting investment of indigenous and multinational companies to be situated in the rural areas; and lastly, (iv) learn from jurisdictional experiences that have successfully replaces non-renewable energy sources with renewable ones for an overall economic growth and environmental sustainability targets for both the immediate and future generations.

Toward a sustainable environment and economic growth in BRICS economies: do innovation and globalization matter?

Over the last few decades, environmental deterioration has accelerated significantly. Environmental degradation has been a subject of research across the world because of its impact on billions of people. However, there has been no international agreement on lowering the utilization of energy and CO₂ emissions (CO₂), while demand for fossil fuels grows in emerging economies. On the other hand, the recent COP26 summit brought all parties together to accelerate action toward reaching the goals of the Paris Agreement and the UN Framework Convention on Climate Change. Although previous research shows that international trade promotes positive socioeconomic outcomes, other experts argue that it contributes to natural resource shortages and ecological deterioration. Thus, the current research considers the effect of international trade, renewable energy use and technological innovation on consumption-based carbon emissions (CCO₂), coupled with the role of financial development and economic growth in the BRICS economies between 1990 and 2018. Moreover, this research utilizes the common correlated effects mean group (CCEMG), augmented mean group (AMG) and Dumitrescu and Hurlin (2012) causality methods to assess these interrelationships. The study findings reveal that renewable energy use, exports and technological innovation mitigate CCO₂, whereas economic growth and imports trigger CCO₂ in the BRICS economies. The panel causality outcomes also reveal that all the variables except financial development can predict CCO₂ emissions. Based on the study findings, we recommend the adoption of policies, regulations and the development of legislative frameworks that promote technological innovation and the shift toward sustainable energy.

An Asymmetric Nexus between Urbanization and Technological Innovation and Environmental Sustainability in Ethiopia and Egypt: What Is the Role of Renewable Energy?

The present study investigates the nexus between urbanization, technological innovation, renewable energy consumption, and environmental quality in Egypt and Ethiopia from 1980 to 2020 by employing symmetric and asymmetric frameworks. Referring to symmetric assessment, the coefficient of renewable energy consumption and technological innovation revealed a negative and statistically significant tie with environmental sustainability, valid for both proxies. Study findings suggest that clean energy integration and technological innovations in the economy decrease environmental adversity by reducing carbon emissions and ecological blames. Although the elasticity of urbanization has documented a positive and statistically significant connection with environmental sustainability, the conclusion is valid for both models. Second, in the long run, the asymmetric shocks of renewable energy consumption and technological innovation have exposed a negative and statistically significant tie to environmental sustainability, whereas in the case of urbanization, the asymmetric shocks unveiled a positive and statistically significant association to environmental sustainability. Third, the study revealed that the feedback hypothesis explains the relationship between technological innovation and environmental sustainability [TI←→EF] in Egypt and ecological footprint and urbanization in Egypt and Ethiopia. Moreover, unidirectional causality runs from ecological footprint to renewable energy consumption in Egypt and Ethiopia.

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.

Wavelet analysis of impact of renewable energy consumption and technological innovation on CO2 emissions: evidence from Portugal

This paper uncover a new perception of the dynamic interconnection between CO₂ emission and economic growth, renewable energy use, trade openness, and technological innovation in the Portuguese economy utilizing innovative Morlet wavelet analysis. The research applied continuous wavelet transform, wavelet correlation, the multiple and partial wavelet coherence, and frequency domain causality analyses are applied on variables of investigation using dataset between 1980 and 2019. The result of these analyses disclosed that the interconnection among the indicators progresses over time and frequency. The present analysis finds notable wavelet coherence and significant lead and lag interconnections in the frequency domain, while conflicting relationships among the variables are found in the time domain. The wavelet analysis according to economic viewpoint affirms that renewable energy consumption helps to curb CO₂ while trade openness, technological innovation, and economic growth contribute to CO₂. The outcomes also proposed that renewable energy consumption decreases CO₂ in medium and long run in Portugal. Therefore, policymakers in Portugal should stimulate investment in renewable energy sources, establish restrictive laws, and enhance energy innovation.

The long-run relationship between energy consumption, oil prices, and carbon dioxide emissions in European countries

Global climate change brings environmental quality sensitivity, especially in European countries. In this context, European countries are striving to achieve carbon neutrality by 2050. Renewable energy use can be an effective way to curtail the increasing environmental degradation. How the oil prices shape the energy use pattern and environmental quality remains unclear to date. Therefore, the present research examines the linkage between energy use (non-renewable and renewable energy), oil prices, and CO₂ emissions in 30 European countries between 1997 and 2017. The study applied fully modified ordinary least squares (FMOLS), Westerlund (2007) cointegration and the Driscoll-Kraay Regression tests to explore these associations. The result of individual samples and the full sample provides the same intimations for the use of energy in Europe. The outcomes of the research ratify the existence of a long-run relationship among variables and found that non-renewable energy consumption increases CO₂ emissions, while renewable energy consumption mitigates CO₂ emissions. Furthermore, when the oil prices rise, people switch towards substitute energy sources that reduce CO₂ emissions. Based on the results, the study suggests that European countries should increase the share of renewable energy, promote the use of clean energy resources, and discourage fossil fuel energy consumption to ensure sustainability.

A new perspective into the impact of renewable and nonrenewable energy consumption on environmental degradation in Argentina: a time-frequency analysis

In most nations across the world, the fundamental goal of economic policy is to achieve sustainable economic growth. Economic development, on the other hand, may have an influence on climate change and global warming, which are major worldwide concerns and problems. Thus, this research offers a new perceptive on the influence of renewable and nonrenewable energy consumption on CO₂ emissions in Argentina utilizing data from the period between 1965 and 2019. The current research applied the wavelet tools to assess these interconnections. The outcomes of these analyses reveal that the association between the series evolves over both frequency and time. The current analysis uncovers notable wavelet coherence and significant lead and lag connections in the frequency domain, while in the time domain, contradictory correlations are indicated among the variables of interest. From an economic perspective, the outcomes of the wavelet analysis affirm that in the medium and long term, renewable energy consumption contributes to environmental sustainability. Furthermore, in the medium term, trade openness mitigates CO₂, although in the long term, no significant connection was found. Moreover, both nonrenewable energy and economic growth contribute to environmental degradation in the short and long term. Finally, the frequency domain causality outcomes reveal that in the long term, economic growth, trade openness, and nonrenewable energy can predict CO₂ emissions. The present analysis offers an innovative insight into the interconnection and comovement between CO₂ and trade openness, renewable energy utilization, and GDP in the Argentinean economy. The findings from this research should be of interest to economists, researchers, and policymakers.

Asymmetric effect of structural change and renewable energy consumption on carbon emissions: designing an SDG framework for Turkey

A plethora of studies have shown that structural change helps nations achieve socioeconomic growth. The influence of structural change on environmental quality, on the other hand, has yet to be thoroughly investigated. As a result, the current study assesses the asymmetric impact of structural change on CO₂ emissions while controlling for the effects of economic progress, renewable energy utilization, and nonrenewable energy in Turkey. To this end, this research used yearly data stretching from 1965 to 2019. The study applied several econometric approaches including nonlinear auto-regressive distributed lag (NARDL) and spectral causality to assess these associations. The outcomes from the NARDL reveal that variations in the regressors have a nonlinear influence on CO₂ in Turkey. Moreover, the transition in the economy's structure helps to boost ecological quality, while the findings also show that Turkey's current economic progress trajectory is unsustainable due to the country's reliance on fossil fuel-based energy consumption. The outcomes of the spectral causality test also show that structural change can predict CO₂ emissions in Turkey at different frequencies. Based on the study findings, the government should encourage investment in the service sector in order to maintain a suitable level of environmental sustainability.

Sustainability at Universities as a Determinant of Entrepreneurship for Sustainability

The aim of this study was to investigate the role of universities in promoting sustainability and sustainable development goals among Indian students as future entrepreneurs, supporting the mission of sustainability. Using PLS-SEM (n = 422), we checked the influence of three constructs related to the university’s role, i.e., campus sustainability, environmental sustainability, and education on sustainability at the university, on attitudes towards sustainability among students, on one hand, and on the intention to start entrepreneurship for sustainability, on the other hand. We also looked into the impact of attitude towards sustainability-related entrepreneurship on the intention to start entrepreneurship for sustainability, as well as into the mediating role of attitude on the relationship between the three mentioned constructs and sustainability entrepreneurial intentions. Results suggest that campus sustainability and education on sustainability positively influence the attitude towards sustainability of the students. Additionally, campus sustainability and environmental sustainability influence students to start entrepreneurship for sustainability. Further, a positive attitude towards sustainability-related entrepreneurship impacts the sustainability entrepreneurial intentions. Attitude towards sustainability mediates the relationship of campus sustainability and environmental sustainability with the sustainability entrepreneurial intentions. The study will be helpful for the universities, students, researchers, and curriculum developers to understand the role of educational institutes and its policies towards sustainability in shaping the intentions towards sustainable entrepreneurship.

Is there a tradeoff between financial globalization, economic growth, and environmental sustainability? An advanced panel analysis

In recent years, many empirical studies investigated the effects of globalization on the ecological footprint (EF). Most of these studies relied on the KOF index of globalization and studied the effects of total globalization and disaggregated impacts of economic, social, and political globalization on the EF. However, less attention has been given to financial globalization which can also influence the EF. Hence, this study investigates the association between financial globalization (FG), economic growth (GDP), and EF controlling population density (PD) in the selected West Asian and the Middle East (WAME) nations from 1990 to 2017. The study relied upon second-generation methods for checking stationary properties and Westerlund and other techniques to scrutinize cointegration. The evidence showed cointegration in the model. The long-run approximations from continuously updated fully modified (CUP-FM) and continuously updated bias corrected (CUP-BC) tests divulge that financial globalization is an important factor to promote ecological sustainability in the sample countries because it decreases EF. Population density exacerbates EF and worsens environmental deterioration in sample countries. The study detected the environmental Kuznets curve (EKC) between EF and economic growth in the presence of financial globalization and population density. Besides, financial globalization Granger causes EF, while the feedback effect exists between EF and economic growth. Based on these results, WAME economies can accomplish ecological sustainability and sustainable development by enhancing their financial globalization levels.

Towards a green industry through cleaner production development

The growth in global production and consumption rates has resulted in increased pollution generation by industrial companies. To this end, cleaner production is one of the most widely used strategies to reduce the environmental impacts of industry and gain competitive advantage. However, it is still adopted slowly in many places. Therefore, the objective of this study is to propose a framework composed of governmental, scientific, and industrial strategies, policies, initiatives, and research opportunities for the development of cleaner production. The best practices of the top countries in the cleaner production technical-scientific scenario and the main implementation challenges and opportunities for its scientific development were identified and were the reference for the framework proposals. In the government sector, the framework suggests actions to encourage the adoption of cleaner production practices through national policies, legislation, tax incentives, and educational campaigns. In the scientific sector, it suggested the development of studies about the factors that motivate its adoption, studies about clean technologies, and studies about the cleaner production implementation difficulties. In the industrial sector, it highlighted the importance of the engagement of upper management to focus on efforts to increase the efficiency of manufacturing processes with the adoption of clean technologies, management systems, strengthening of the research and development areas, and replacement of hazardous raw materials. Thus, this study contributes with initiatives that will help the implementation of cleaner production practices, reducing the generation of pollution in industry, increasing the efficiency of its processes, and aligning countries and societies to sustainable development.

The environmental sustainability effects of financial development and urbanization in Latin American countries

The present study assesses the impact of urbanization, economic growth, energy consumption, and financial development on CO₂ emissions in Latin American countries using a dataset spanning between 1980 and 2017. The current paper employs utilized panel econometric techniques such as CIDF, panel unit test, the Westerlund panel cointegration, fully modified ordinary least squares (FMOLS), dynamic ordinary least squares (DOLS), and Dumitrescu Hurlin panel causality test to assess these associations. The outcomes from the FMOLS and DOLS estimation reveal that (i) economic growth impacts CO₂ emissions positively, (ii) energy consumption exerts a positive impact on CO₂ emissions, and (iii) urbanization impacts CO₂ emissions positively. Furthermore, the outcomes of the causality test reveal that energy consumption and economic growth can predict CO₂ emissions in Latin countries. The findings highlight the importance of policymakers actively coordinating strategies to address Latin America's severe environmental degradation.

Assessment of the role of trade and renewable energy consumption on consumption-based carbon emissions: evidence from the MINT economies

This research formulates a theoretical framework to investigate the impacts of trade on consumption-based carbon emissions (CCO₂) and also takes into account the influence of financial development and renewable energy use utilizing panel data for Mexico, Indonesia, Nigeria, and Turkey (MINT) nations between 1990 and 2017. The study utilizes a series of second-generation techniques such as Westerlund cointegration, cross-sectional augmented autoregressive distributed lag (CS-ARDL), and augmented mean group (AMG) tests to capture the linkage between CCO₂ emissions and the independent variables. The study aims to answer the following questions: (a) can exports and imports determine CCO₂ emissions in the MINT nations? (b) Is there a long-run association among the variables under investigation? The results of the Westerlund cointegration reveal a long-run association among the variables. The CS-ARDL outcomes indicate that imports and economic growth increase CCO₂ emissions, while renewable energy use and exports decrease CCO₂ emissions. Moreover, the outcomes of the AMG test also give credence to the CS-ARDL results. Our key policy recommendations are that initiatives, rules, and regulatory mechanisms should be implemented that promote the transformation toward renewable energy.

Toward a sustainable environment: nexus between consumption-based carbon emissions, economic growth, renewable energy and technological innovation in Brazil

This research investigates the drivers of consumption-based carbon emissions in Brazil by using a dataset covering the period between 1990 and 2018. These dynamics were examined by employing the ARDL bounds, DOLS, and gradual shift causality tests. The ARDL long- and short-run estimation outcomes reveal that: (a) renewable energy use stimulates the sustainability of the environment; (b) economic growth increases environmental degradation; and (c) technological innovation enhances the quality of the environment. In addition, the gradual shift causality test results disclosed that renewable energy consumption, economic growth, technological innovation and public-private partnership investment in energy can predict consumption-based carbon emissions in Brazil. Therefore, Brazilian policymakers should actively encourage the R&D of low-carbon technologies and renewable energy consumption. Domestic consumption levels, on the other hand, should be targeted, specifically those that are more energy-intensive and cause a rise in CO2 emissions due to consumption.

The Effect of Energy Consumption and Economic Growth on Environmental Sustainability in the GCC Countries: Does Financial Development Matter?

Achieving environmental sustainability whilst minimizing the climate change effect has become a global endeavor. Hence, this study examined the effect of energy consumption, economic growth, financial development, and globalization on CO2 emissions in the Gulf Cooperation Council (GCC) countries. The research utilized a dataset stretching from 1995 to 2018. In a bid to investigate these associations, the study applied cross-sectional dependence (CSD), slope heterogeneity (SH), Pesaran unit root, Westerlund cointegration, cross-sectionally augmented autoregressive distributed lag (CS-ARDL), and Dumitrescu and Hurlin (DH) causality approaches. The outcomes of the CSD and SH tests indicated that using the first-generation techniques produces misleading results. The panel unit root analysis unveiled that the series are I (1). Furthermore, the outcomes of the cointegration test revealed a long-run association between CO2 emissions and the regressors, suggesting evidence of cointegration. The findings of the CS-ARDL showed that economic growth and energy consumption decrease environmental sustainability, while globalization improves it. The study also validated the environmental Kuznets curve (EKC) hypothesis for GCC economies. In addition, the results of the DH causality test demonstrated a feedback causality association between economic growth and CO2 emissions and between financial development and CO2 emissions. Moreover, there is a one-way causality from energy consumption and globalization to CO2 emissions in GCC economies. According to the findings, environmental pollution in GCC countries is output-driven, which means that it is determined by the amount of energy generated and consumed.

Another Look into the Relationship between Economic Growth, Carbon Emissions, Agriculture and Urbanization in Thailand: A Frequency Domain Analysis

This empirical study assesses the effect of CO2 emissions, urbanization, energy consumption, and agriculture on Thailand’s economic growth using a dataset between 1970 and 2018. The ARDL and the frequency domain causality (FDC) approaches were applied to assess these interconnections. The outcome of the bounds test suggested a long-term association among the variables of investigation. The ARDL outcomes reveal that urbanization, agriculture, energy consumption, and CO2 emissions positively trigger Thailand’s economic growth. Additionally, the frequency domain causality test was used to detect a causal connection between the series. The main benefit of this technique is that it can detect a causal connection between series at different frequencies. To the understanding of the authors, this is the first study in the case of Thailand that will apply the FDC approach to capture the causal linkage between GDP and the regressors. The outcomes of the causality test suggested that CO2 emissions, urbanization, energy consumption, and agriculture can predict Thailand’s economic growth in the long term. These outcomes have far-reaching implications for economic performance and Thailand’s macroeconomic indicators.

The Effect of Energy Usage, Economic Growth, and Financial Development on CO2 Emission Management: An Analysis of OECD Countries with a High Environmental Performance Index

The environmental performance index was developed to protect public health, and to sustain and manage the ecological vitality that is a crucial factor in countries’ social and economic development. The increase in CO2 emissions has been threatening environmental and human health. The main objective of this study is to evaluate the impact of economic growth, energy consumption, energy management, the urban population, trade openness, and financial development on CO2 emissions in the OECD countries that have a high ranking in the environmental performance index by utilizing the panel data analysis method for the years spanning 1990–2014. This assessment finds positive relationships between economic growth, energy consumption, and the urban population, and CO2 emissions. Moreover, it is put forward that a negative and significant relationship between financial development and CO2 emissions exists. Despite displaying a similar negative correlation, the relationship between trade openness and CO2 emissions is insignificant. In the Dumitrescu-Hurlin panel causality test conducted, it was seen that a two-way causality is prevalent between energy consumption and CO2 emissions. In addition, interrelations where CO2 emissions cause trade openness, and the urban population is an explanatory variable of the former relationship, were discovered.

Modeling the Dynamic Linkage between Renewable Energy Consumption, Globalization, and Environmental Degradation in South Korea: Does Technological Innovation Matter?

The present research assesses the influence of globalization and technological innovation on CO2 emissions in South Korea as well as taking into account the role of renewable energy consumption and energy consumption utilizing datasets between 1980 and 2018. The autoregressive distributed lag (ARDL) bounds testing method is utilized to assess long-run cointegration. The outcome of the ARDL bounds test confirmed cointegration among the series. Furthermore, the ARDL reveals that economic growth, energy consumption and globalization trigger environmental degradation while technological innovation improves the quality of the environment. In addition, the study employed the frequency domain causality test to capture causal linkage among the series. The major advantage of this approach is that causal linkage between series can be captured at the short, medium and long term, respectively. The outcomes of the causality test revealed that globalization, technological innovation, economic growth and energy use can predict CO2 emissions in South Korea.

Linking Economic Growth, Urbanization, and Environmental Degradation in China: What Is the Role of Hydroelectricity Consumption?

Achieving environmental sustainability has become a global initiative whilst addressing climate change and its effects. Thus, this research re-assessed the EKC hypothesis in China and considered the effect of hydroelectricity use and urbanization, utilizing data from 1985 to 2019. The autoregressive distributed lag (ARDL) bounds testing method was utilized to assess long-run cointegration, which is reinforced by a structural break. The outcome of the ARDL bounds test confirmed cointegration among the series. Furthermore, the ARDL revealed that both economic growth and urbanization trigger environmental degradation while hydroelectricity improves the quality of the environment. The outcome of the ARDL also validated the EKC hypothesis for China. In addition, the study employed the novel gradual shift causality test to capture causal linkage among the series. The advantage of the gradual shift causality test is that it can capture gradual or smooth shifts and does not necessitate previous information of the number, form of structural break(s), or dates. The outcomes of the causality test revealed causal connections among the series of interest.

Relationship between Energy Consumption and Economic Growth in European Countries: Evidence from Dynamic Panel Data Analysis

The aim of the article is to empirically verify the relationship between energy consumption and economic growth. The time scope of this study covers the period of 2008–2019. The scope of analyzed subjects covers 34 European countries, 27 of which are currently members of the European Union. European countries consume large amounts of energy, so it is worth investigating the effect of reducing energy consumption on the process of economic growth. For this purpose, dynamic panel models were used. The research methods included the use of dynamic panel models, taking into account the Arellano and Bond and Blundell and Bond estimators. The results made it possible to identify the relationship between energy consumption and economic growth. It was found that, in the short term, increases in production will result in a statistically significant increase in energy consumption. Importantly, in the long term, this impact is also statistically significant and positive. On the other hand, taking into account the second of the estimated models, it can be concluded that, in the short term, increases in energy consumption do not cause changes in the rate of economic growth. The verification of this relationship in the long term also does not confirm it. In summary, it can be stated that a one-way relationship (in the short and in the long term), directed from economic growth towards energy consumption, was identified.