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Koçak E, Ulucak ZŞ. The effect of energy R&D expenditures on CO 2 emission reduction: estimation of the STIRPAT model for OECD countries. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2019; 26:14328-14338. [PMID: 30864038 DOI: 10.1007/s11356-019-04712-2] [Citation(s) in RCA: 75] [Impact Index Per Article: 12.5] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Academic Contribution Register] [Received: 01/23/2019] [Accepted: 02/25/2019] [Indexed: 05/22/2023]
Abstract
Energy innovations are critical to combating global warming and climate change. In this context, we focus on the impact of energy research-development (R&D) expenditures, which are the input of energy innovations, on CO2 emissions. For this purpose, we investigate the effect of disaggregated energy R&D expenditures on CO2 emission in 19 high-income OECD countries over the period 2003-2015. The dynamic panel data method is followed for empirical analysis. The results of the study show that R&D expenditures for energy efficiency and fossil energy have an increasing effect on CO2 emissions. Contrary to expectations, there is no significant relationship between renewable energy R&D expenditures and CO2 emissions. Remarkably, there is strong evidence that the power and storage R&D expenditures have a reducing effect on CO2 emissions. In light of the empirical findings, policy implications and recommendations to potential readers and authorities are further discussed.
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Balsalobre-Lorente D, Driha OM, Leitão NC, Murshed M. The carbon dioxide neutralizing effect of energy innovation on international tourism in EU-5 countries under the prism of the EKC hypothesis. JOURNAL OF ENVIRONMENTAL MANAGEMENT 2021; 298:113513. [PMID: 34403918 DOI: 10.1016/j.jenvman.2021.113513] [Citation(s) in RCA: 48] [Impact Index Per Article: 12.0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Academic Contribution Register] [Received: 06/01/2021] [Revised: 07/30/2021] [Accepted: 08/07/2021] [Indexed: 05/22/2023]
Abstract
Mitigation of carbon dioxide emissions has become an utmost important global agenda, keeping into consideration the associated environmental hardships. As a result, it is important to unearth the factors which can neutralize carbon emissions to transform the world economy into a low-carbon one. Against this backdrop, this study explores the carbon dioxide neutralizing effects of economic growth, international tourism, clean energy promotion, and technological innovation in the context of five European Union (EU-5) nations during the 1990-2015 period. This study's main contribution is in terms of its approach to test the interaction effect between foreign direct investment (FDI) inflows and energy innovation on carbon dioxide emissions. The econometric analysis chronologically involves the employment of unit root, cointegration, causality, and regression methods. Overall, the findings support the inverted-U-shaped economic growth-carbon dioxide emissions nexus to verify the Environmental Kuznets Curve (EKC) hypothesis. Besides, the Pollution Haven Hypothesis in the context of the selected panel is also verified as higher FDI inflows are seen to boost the carbon dioxide emission levels. The results also confirm that energy innovation moderates the harmful effect of air transport (a proxy for international tourism) on carbon dioxide emissions during the developing stage of the tourism industry. On the other hand, renewable energy promotion is found to curb carbon dioxide emissions. These findings suggest that the European governments need to enhance investments in their respective renewable energy sectors and simultaneously ensure the development of clean industries, which can collectively help these nations become carbon-neutral in the future.
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Li C, Sampene AK, Agyeman FO, Brenya R, Wiredu J. The role of green finance and energy innovation in neutralizing environmental pollution: Empirical evidence from the MINT economies. JOURNAL OF ENVIRONMENTAL MANAGEMENT 2022; 317:115500. [PMID: 35751290 DOI: 10.1016/j.jenvman.2022.115500] [Citation(s) in RCA: 33] [Impact Index Per Article: 11.0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Academic Contribution Register] [Received: 03/22/2022] [Revised: 06/03/2022] [Accepted: 06/06/2022] [Indexed: 06/15/2023]
Abstract
Pursuing ecological sustainability while mitigating the effects of environmental pollution has become a global pursuit. Moreover, the issue of how emerging economies like Mexico, Indonesia, Turkey, and Nigeria (MINT) economies can significantly reduce environmental pollution (EVP) remains elusive. This study sought to investigate the interplay between economic growth, green finance, renewable energy use, natural resource rent, energy innovation, urbanization and environmental pollution by analyzing panel data from 1990 to 2020. This research employed the novel econometrics approach CS-ARDL to examine the short and long-term relationships among the series. The research outcome disclosed that economic growth, natural resource rent and urbanization increase environmental pollution. In contrast, the empirical findings of this study revealed that environmental pollution could be neutralized through effective mechanisms such as green finance, renewable energy consumption, and the promotion of energy innovation. This research provides a fresh insight from the MINT economies and contributes to the existing literature by examining factors contributing to environmental pollution. This research also provides a benchmark for policy-makers and governments to invest in environmentally-friendly technologies to exploit the natural resources in these countries to mitigate the effect of environmental pollution.
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Cheng Y, Sinha A, Ghosh V, Sengupta T, Luo H. Carbon tax and energy innovation at crossroads of carbon neutrality: Designing a sustainable decarbonization policy. JOURNAL OF ENVIRONMENTAL MANAGEMENT 2021; 294:112957. [PMID: 34111594 DOI: 10.1016/j.jenvman.2021.112957] [Citation(s) in RCA: 29] [Impact Index Per Article: 7.3] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Academic Contribution Register] [Received: 03/30/2021] [Revised: 05/23/2021] [Accepted: 05/29/2021] [Indexed: 05/09/2023]
Abstract
Decarbonation has been a primary policy prerogative for Sweden, and carbon tax has been a primary policy instrument in this pursuit, and the revenue generated out of carbon tax has been a driver for energy innovation. However, the benefits of energy innovation have not been experienced across various sectors in Swedish economy, and it might be anticipated that the potential aim of achieving carbon neutrality might not be accomplished to the fullest. Hence, being faced with the need of policy realignment for Sweden, this study has made an attempt to discover the dynamics between carbon tax revenue and energy innovation over a period of 1990-2019, following Quantile-on-Quantile Regression framework. The results obtained from the study show that the impact of carbon tax revenue on energy innovation might turn out to be ineffective beyond a certain threshold limit. A similar pattern has also been observed for the impact of energy innovation on carbon tax revenue. This study gives an indication that there might be a non-linear association between both these model parameters. The study outcomes have paved a way to design a policy framework for helping Swedish economy to attain the objectives of Sustainable Development Goals, while paving the ways to achieve carbon neutrality.
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Ali M, Raza SA, Khamis B. Environmental degradation, economic growth, and energy innovation: evidence from European countries. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2020; 27:28306-28315. [PMID: 32418103 DOI: 10.1007/s11356-020-09142-z] [Citation(s) in RCA: 19] [Impact Index Per Article: 3.8] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Academic Contribution Register] [Received: 03/24/2020] [Accepted: 04/30/2020] [Indexed: 06/11/2023]
Abstract
This study aims to explore the relationship of environmental degradation with economic growth and energy innovation by utilizing the panel data of 33 European countries by covering the period of 1996 to 2017. We use the cross-sections independence and control the heterogeneity between cross-sections by using the second-generation econometric of panel data. The Westerlund bootstrap co-integration, CIPS unit root test, Pedroni co-integration, panel causality techniques, and FMOLS have been used to analyze the relationship. The result of the study shows that all the variables are integrated in the long run. Energy innovation has a negative and significant impact on environmental degradation. On the other hand, gross domestic product has a U-shape and significant relationship with environmental degradation by supporting Kuznets curve. Therefore, this study helps not only the policymaker and government but also the people and businessmen on how they can increase the growth of the business and economy without effecting the environment.
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Musibau HO, Adedoyin FF, Shittu WO. A quantile analysis of energy efficiency, green investment, and energy innovation in most industrialized nations. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2021; 28:19473-19484. [PMID: 33394396 DOI: 10.1007/s11356-020-12002-5] [Citation(s) in RCA: 14] [Impact Index Per Article: 3.5] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Academic Contribution Register] [Received: 07/01/2020] [Accepted: 12/07/2020] [Indexed: 06/12/2023]
Abstract
The continuous use of fossil fuels to meet the energy demands of the industrialized nations has led to environmental degradation. As such, there has been a call for research, exploration, and the usage of alternative energy which is believed to improve the depleting quality of the environment. This study investigates the relationship between energy efficiency, green energy investment, and energy innovation in a panel of nine highly industrialized countries, namely Canada, Japan, France, Spain, Germany, Switzerland, Italy, the USA, and the UK. Relying on the environmental Kuznets' hypothesis (EKC), we employ the quantile-on-quantile regression approach to the data obtained between 1980 and 2018. The empirical estimates validate the EKC hypothesis in most of these industrialized nations considered. The findings also reveal that the continuous use of non-renewable energy consumption escalates emissions, while the use of renewable energy reduces the level of emissions "in" the environment. Therefore, energy efficiency leads to an increase in emissions in the first 3 quantiles and reduces emissions in the remaining quantiles. Also, energy innovation leads to a high amount of emissions. Finally, the study calls for increased investments in renewable energy as well as energy efficiency to ensure continuous improvement in the quality of the environment.
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Sampene AK, Li C, Oteng-Agyeman F, Brenya R. Dissipating environmental pollution in the BRICS economies: do urbanization, globalization, energy innovation, and financial development matter? ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2022; 29:82917-82937. [PMID: 35759100 DOI: 10.1007/s11356-022-21508-z] [Citation(s) in RCA: 11] [Impact Index Per Article: 3.7] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Academic Contribution Register] [Received: 01/31/2022] [Accepted: 06/12/2022] [Indexed: 06/15/2023]
Abstract
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.
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Baloch MA, Qiu Y. Does energy innovation play a role in achieving sustainable development goals in BRICS countries? ENVIRONMENTAL TECHNOLOGY 2022; 43:2290-2299. [PMID: 33427601 DOI: 10.1080/09593330.2021.1874542] [Citation(s) in RCA: 7] [Impact Index Per Article: 2.3] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Academic Contribution Register] [Received: 07/20/2020] [Accepted: 01/01/2021] [Indexed: 06/12/2023]
Abstract
It is widely discussed that greenhouse gases (GHGs) are the main culprit behind global warming. The conventional energy sources (oil, coal, and gas) mainly realize GHGs in the atmosphere. Due to this, the world's countries are switching towards clean energy sources and investing more in projects related to innovation in the energy sector. Thus, this study investigates the role of energy innovation in combating GHGs emissions by taking the environmental Kuznets curve for BRICS economies. The FMOLS and DOLS estimators are employed throughout 1996-2016. The findings documented that energy innovation plays an important role in mitigating GHGs emissions. Moreover, the result strongly approves the EKC hypothesis for BRICS countries in the significance of energy innovation. Finally, it is recommended that expanding the public budget in energy R&D expenditures can help to reduce GHG emissions and promote sustainable growth in BRICS countries.
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Bashir MF, Shahbaz M, Ma B, Alam K. Evaluating the roles of energy innovation, fossil fuel costs and environmental compliance towards energy transition in advanced industrial economies. JOURNAL OF ENVIRONMENTAL MANAGEMENT 2024; 351:119709. [PMID: 38043304 DOI: 10.1016/j.jenvman.2023.119709] [Citation(s) in RCA: 1] [Impact Index Per Article: 1.0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Academic Contribution Register] [Received: 04/20/2023] [Revised: 11/01/2023] [Accepted: 11/22/2023] [Indexed: 12/05/2023]
Abstract
Given the dire state of climate change, investigating key elements that impact the energy transition process and help monitor progress in greenhouse gas emissions to achieve environmental sustainability is of critical importance. The current study explores the association between energy transition, compliance with environmental agreements, fossil fuels costs, environmental technologies, economic growth, and environmental degradation in G20 economies from 1995 to 2019. Our findings from extensive econometric analysis reveal that economic growth, environmental innovation, renewable energy, and environmental compliance facilitate while fossil fuels and environmental degradation hinder the energy transition process. Our findings conclude that developed countries must focus on alternate energy resources to overcome environmental challenges and subsidize renewable energy and environmental technologies to replace fossil fuels with green energy resources methodologically. Further, policy measures have been discussed in detail in the study.
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Jiu J, Ali S, Nazar R, Khan AI. Breaking barriers to climate finance: Asymmetric nexus between green investment and energy innovation in Europe. Heliyon 2024; 10:e25096. [PMID: 38352748 PMCID: PMC10862500 DOI: 10.1016/j.heliyon.2024.e25096] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [Track Full Text] [Download PDF] [Figures] [Journal Information] [Subscribe] [Academic Contribution Register] [Received: 08/15/2023] [Revised: 01/11/2024] [Accepted: 01/19/2024] [Indexed: 02/16/2024] Open
Abstract
Growing concerns regarding climate change and the necessity to shift towards a low-carbon economy have resulted in a significant rise in the worth of green finance for developing energy technology. This growing emphasis on green finance underscores the urgency for a nuanced exploration of the asymmetric nexus between green investment and energy innovation in Europe. The present article investigates the asymmetric relationship between green investment and energy innovation in the top ten European nations with the highest green investment (France, Netherlands, Germany, Italy, Spain, Denmark, Austria, Finland, the UK, and Sweden). Formerly, panel data methodologies were employed to observe the link between green investment and energy innovation despite the absence of an exclusive connection in certain economies. On the other hand, this study uses 'Quantile-on-Quantile' approach for econometric estimation using the annual data from 2007 to 2022. This unique methodology enables a detailed and specific analysis of time-series interdependence in every economy, providing valuable perceptions of the nuanced relationship between these variables. Investment in renewable energy is employed as a proxy for green investment, while energy-related patents represent energy innovation. The study employs a quantile cointegration test to assess the variables long-run relationship. The results indicate a positive correlation between green investment and energy innovation in many countries at certain data points. Additionally, the analysis demonstrates that the extent of asymmetry between these variables varies across countries, stressing policymakers' need to closely monitor fluctuations in green investment and energy innovation.
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Zhu C, Ning Y, Sun X, Abdullah M. Energy taxes, energy innovation, and green sustainability: empirical analysis from a China perspective. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2023; 30:82760-82769. [PMID: 37335508 DOI: 10.1007/s11356-023-27927-w] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Academic Contribution Register] [Received: 03/07/2023] [Accepted: 05/22/2023] [Indexed: 06/21/2023]
Abstract
The idea that energy taxes and innovation may contribute to lowering greenhouse gas emissions and fostering the development of a more sustainable energy future is gaining popularity. Therefore, the study's main goal is to explore the asymmetric impact of energy taxes and innovation on CO2 emissions in China by employing linear and nonlinear ARDL econometric methods. The outcomes of the linear model demonstrate that long-term increases in energy taxes, energy technological innovation, and financial development cause CO2 emissions to reduce, while increases in economic development cause CO2 emissions to climb. Similarly, energy taxes and energy technological innovation cause CO2 emissions to fall in the short run, while financial development promotes CO2 emissions. On the other hand, in the nonlinear model, the positive energy changes, positive energy innovation changes, financial development, and human capital help reduce the long-run CO2 emissions, and economic development increase the CO2 emissions. In the short run, the positive energy and innovation changes are negatively and significantly connected to CO2 emissions, while financial development is positively linked to CO2 emissions. The negative energy innovation changes are insignificant in both the short and long run. Therefore, Chinese policymakers should try to promote energy taxes and innovations as tools to achieve green sustainability.
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