Globalization and GHG Emissions in the EU: Do We Need a New Development Paradigm?

CCUS technology, digital economy, and carbon emission efficiency: Evidence from China's provincial panel data

Improving carbon emission efficiency is crucial for realizing carbon neutralization. Many critical influencing factors of carbon emission efficiency were identified by previous studies, but they ignored the impact of carbon capture, utilization, and storage (CCUS) technology, which is considered in this study. By employing the panel fixed effect, the moderating effect, and the panel threshold regression models, this study investigates the influence of CCUS technology on carbon emission efficiency and how that impact fluctuates when digital economy is incorporated. Data for China's 30 provinces from 2011 to 2019 is adopted. The results suggest that improving CCUS technology significantly promotes carbon emission efficiency and the promotion effect is positively moderated by digital economy. Considering the level of CCUS technology or digital economy, the effect of CCUS technology on carbon emission efficiency is nonlinear and has significant double-threshold effects. Only when CCUS technology reaches a certain threshold, can it has a significantly positive impact on carbon emission efficiency and that effect has an increasing trend in marginal utility. Meanwhile, with the deepening of digital economy, the relationship between CCUS technology and carbon emission efficiency shows an S-shaped curve trend. Those findings, first combining CCUS technology, digital economy, and carbon emission efficiency together, reflect the significance of advancing CCUS technology and adjusting the development of digital economy for achieving sustainable low-carbon development.

Dissipating environmental pollution in the BRICS economies: do urbanization, globalization, energy innovation, and financial development matter?

The question of how Brazil, Russia, India, China, and South Africa (BRICS countries) can substantially dissipate environmental pollution (EVP) remains unsolved. In this regard, this research explores the dynamic association between energy consumption (EGC), economic expansion (EXP), globalization (GLO), energy innovation (ENI), urbanization (URB), financial development (FID), and environmental pollution (EVP) using panel data from 1990 to 2020. This study integrated the augmented mean group (AMG), common correlated effect means group estimator (CC-MG), and fully modified ordinary least square (FMOLS) model approach to estimate the long-run interaction among the series. The findings of this study reveal a positive and significant association between economic expansion, energy consumption, urbanization, financial development, and environmental pollution. In contrast, globalization and energy innovation extensively abate EVP in the BRICS economies. Moreover, the outcome of the Granger causality test indicates that energy consumption and energy innovation have a bidirectional association with EVP. The Granger causality test further revealed a unidirectional causality between globalization, urbanization, financial development, and environmental pollution. Finally, this research has implications for policymakers in the BRICS countries.

The energy transition in Europe-a solution for net zero carbon?

Climate change has generated intense concerns from public authorities and international institutions with regard to shaping the behavior of companies, consumers, investors, and other stakeholders so as to manage this challenge as efficiently as possible. In order to address the climate emergency in the post-pandemic era, recovery plans need to trigger decarbonization, and a green transition, including specific investments and providing a more adaptive structure of the sources of energy in different regions, able to meet the need for a systemic shift towards a more sustainable economy that works for both people and the planet. The main measurable effect of energy production and consumption is by far represented by carbon emissions. In the present paper, we aim to identify the statistical significance of several factors influencing the carbon dioxide emission per capita in the European countries-level of economic development, level of globalization, trade openness, and the intensity of energy transition measured by the share of renewable energy in total energy consumption. The results show an increased interest of the experts in energy consumption model shift through green energy increased share, with relatively high differences among the 42 European countries analyzed. The analysis was conducted for the period 1990-2018 and policy differences depending on variables (GDP/capita, globalization index, trade openness, and renewable energy share in total energy consumption) were identified. The results showed that the carbon dioxide emission per capita evaluation designed model is representative of the European countries. The fact that the targets set by European non-EU member states for reducing CO2 emissions are lower than for the EU is influencing the dynamics of the energy transition, with implications for the size and destination of funds to finance the development of renewable energy.

Recent scenario and nexus of globalization to CO2 emissions: Evidence from wavelet and Quantile on Quantile Regression approach

The ubiquitous increase in globalization and high carbon emissions, aiming to achieve non-zero emissions in the future, is a feasible challenge for a sustainable environment. Our study aims to investigate the impact of economic globalization on carbon emissions of the developed country covering the period of 1970-2019. The Wavelet Coherence (WC) and Quantile on Quantile Regression (QQR) approach have been used to analyse co-movements and feedback linkages of CO₂ emissions with globalization, economic growth, and consumption of coal at different quantiles. The results obtained from WC show that there exist significant positive co-movements in the in-phase and leading globalization, economic growth, coal consumption with CO₂ emissions. Further, the results of QQR indicate the existence of a positive and significant linkage between coal consumption and CO₂ emissions for the majority of quantiles, the positive. Still, there is an insignificant association between CO₂ with globalization and economic growth at most quantiles. Lastly, the quantile regression (QR) comparison with QQR suggests that our model is a good fit as the intercept estimates are similar and the slope coefficients follow a similar trend. To conclude, CO₂ emissions have positive associations and co-movements with globalization, economic growth, and coal consumption, but their statistical significance varies and directly affects the Country.

A better understanding of the role of new energy and green finance to help achieve carbon neutrality goals, with special reference to China

Carbon neutrality is an important policy in the current global response to climate change and has been widely recognized by various industries. In the process of promoting carbon neutrality, new energy plays a pivotal role. In this study, the definition and connotation of new energy and its role and specific operation in the energy transition of carbon neutrality are firstly explained. Promoting new energy development requires significant green and low-carbon investments. Taking China as an example, this paper analyzes the opportunities brought by the carbon neutral process to the field of green finance and analyzes the main features and development trends of green finance in China at present. Then this paper proposes policy recommendations to strengthen the development of green finance in China in terms of improving the green financial policy system, enhancing the supply capacity of green financial services, and optimizing the supporting environment for green financial development. Finally, this paper analyzes the measures and experiences of the United States in promoting low-carbon development and proposes countermeasures for China's low-carbon development on the basis of the five major relationships that need attention in China's carbon-neutral process. That is, strengthen the top-level design and improve the regulatory policy system; optimize the energy structure and increase the proportion of clean energy; optimize the industrial structure and reduce energy consumption in key industries; build a complete low-carbon technology system and promote low-carbon technology research and development and demonstration applications, and encourage local conditions to explore low-carbon development paths. The development of green finance can contribute to the advancement of new energy technologies, thus contributing to the achievement of carbon neutrality goals.

Impact of Institutions and Human Capital on CO2 Emissions in EU Transition Economies

Environmental degradation is one of the most significant problems of the globalized world. This paper explores the impact of institutional development and human capital on CO2 emissions in 11 EU transition economies over the period of 2000–2018 through co-integration analysis. The co-integration analysis revealed that human capital negatively affected CO2 emissions in Croatia, the Czech Republic, Hungary, and Slovenia, and that institutions had a negative impact on CO2 emissions in the Czech Republic. However, both institutions and human capital positively affected CO2 emissions in Latvia and Lithuania.