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In Africa, switching to renewable energy sources with low carbon emissions is becoming more popular. In the Economic Community of West African states (ECOWAS), the low-carbon energy transition must overcome significant obstacles, including those posed by policies put in place and their implementation. In order to replace the current fossil fuel-driven economy with low-carbon development that also advances the regional aims and Sustainable Development Goals (SDGs), this paper analyzes the current policy landscape in the region. A total of 75 policies from four categories (energy access, energy efficiency, renewable energy, climate change) were chosen for the policy review. Multicriteria decision analysis and a thorough review of the literature have shed light on how well the policies of the ECOWAS countries could promote low-carbon development and what the main challenges to overcome are. The last step was the comparison of the progress of the two key policies in the region: the National Energy Efficiency Action Plan (NEEAP) and National Renewable Energy Action Plan (NREAP). The results illustrate the amount of work still needing to be done in the region, with only 26 of the 75 policies receiving a score above 50. However, the prospect of a better energy strategy that adequately considers the difficulties of the energy transition is possible, given the progress made by the region's nations since the creation of national action plans for energy efficiency (EE) and renewable energy (RE). Our analysis has also shown that countries like Senegal have obtained quite promising results, as evidenced by the best scores of 76.88 and 73.25, respectively, obtained by its NREAP and NEEAP policies. [ABSTRACT FROM AUTHOR]

The sustainable development of enterprises is based on three pillars: economic, social, and environmental. Sustainable development aims to limit climate change and its negative impact on the natural environment. The main aim of this paper is to assess the impact of selected energy economy factors (government expenditure, environmental taxes, outlays on renewable energy sources, prices of futures contracts for CO2 emissions, outlays on R&D, and the EU Emissions Trading System (ETSEU)) on the sustainable development of the energy sectors in Bulgaria, Czechia, Estonia, and Poland, from 2008 to 2022. We use the correlation coefficients, the Ordinary Least Squares (OLS), Vector Autoregressive (VAR) Models, and the simultaneous equation. The research results indicate a variation in the direction and strength of the influence of individual economic factors in the studied countries (p < 0.05). The results can support operational and strategic decisions sustaining the sustainable development of enterprises in the analyzed countries. The results indicate the need to reform selected economic factors, with an emphasis on the increased importance of environmental taxes and the reform of the EU ETS, which is a key tool for reducing greenhouse gas emissions cost-effectively. [ABSTRACT FROM AUTHOR]

Energy is crucial to economic progress, but the contemporary worldwide population increase that demands greater energy generated from conventional exhaustible resources, an energy price upsurge, and environmental concerns, imperils sustainable economic growth. Nevertheless, switching to renewable energy produced from naturally replenished resources promotes energy security, likewise addressing issues such as global warming and climate change. This paper aims at exploring the influence and causal relation between renewable energy, both overall and by type, and sustainable economic growth of European Union (EU)-28 countries for the period of 2003-2014. We notice that the mean share of renewable energy in the gross final energy consumption is 15%, while the mean share of renewable energy in transport fuel consumption is 3%, which are below the thresholds of 20% and 10%, respectively, as set by the EU Directive 2009/28/EC. By estimating panel data fixed-effects regression models, the results provide support for a positive influence of renewable energy overall, as well as by type, namely biomass, hydropower, geothermal energy, wind power, and solar energy on gross domestic product per capita. However, biomass energy shows the highest influence on economic growth among the rest of renewable energy types. In fact, a 1% increase of the primary production of solid biofuels increases GDP per capita by 0.16%. Besides, cointegrating regressions set on panel fully modified and dynamic ordinary least squares regressions confirm the positive influence related to the primary production of renewable energies on economic growth. A 1% increase in primary production of renewable energies increases GDP per capita by 0.05%-0.06%. However, the results of Granger causality based on panel vector error correction model indicate both in short-run and long-run a unidirectional causal relationship running from sustainable economic growth to the primary production of renewable energies, being supported the conservation hypothesis. [ABSTRACT FROM AUTHOR]

Sustainable energy development (SED) is a crucial component of the Sustainable Development Goals (SDG), aiming to maintain economic and social progress while protecting the environment and mitigating climate change's effects. SED serves as a transition paradigm for sustainable development, providing a blueprint for energy peace and prosperity for people and all uses. This article presents the history of SED and then uses a critical discourse approach to summarize existing review studies in SED. Ten interlinked themes of SED are identified, with two of them considered to be among the least studied in existing SED reviews and in the current global discussion around climate change. This study explores these two themes, which include energy financing and the need for 100% renewable energy (RE), a sub-theme of decarbonization strategy working towards the 1.5–2.0 °C scenario. The study suggests that the current G20 countries' contributions, if maintained continuously per annum, in addition to 80% more funding from private investment compared to the amount in the 1.5 °C scenario financial requirements for clean energy, are sufficient to limit global warming. In addition to the present drive for 100% RE, the article also discusses emerging issues, such as energy storage options with an indication of hydrogen as the most promising, other energy-related development agendas, and the need for regional security stability to prevent energy wars. Selected SED decarbonization strategies are presented across the power, transport, building, and industrial sectors. The study concludes with progress and directions for future research, mainly the need for re-defining nationally determined contribution (NDC) through an emissions budgeting and centralized global or regional emissions stock-taking strategy working towards the 1.5 °C scenario. [ABSTRACT FROM AUTHOR]

Some advanced countries' rapid population, economic growth, and energy consumption expansion contribute significantly to global CO2 emissions. And while developed countries have achieved 100% universal access to electricity, mainly from non-renewable sources, many developing countries still lack it. This presents challenges and opportunities for achieving the United Nations' Sustainable Development Goals (SDGs) 7 and 13 of generating all energy from cleaner or low-carbon sources to reduce CO2 emissions in all countries and combating climate change consequences. Renewable energies have been widely acknowledged to greatly advance this endeavour, resulting in many studies and about 30 countries already with over 70% of their national electricity mix from RE. It has birthed a new paradigm and an emerging field of 100% RE for all purposes, recently receiving much attention from academia and in public discourse. The major challenge with this idea is that achieving such a feat requires a more diverse approach. This study emphasises the need to meet technical and non-technical requirements for working towards a 100% RE for all purposes. Therefore, our work introduces six methodological or evaluation mechanisms (herein, identified as 100% RE evaluation metrics) suitable for existing and future 100% renewable energy analysis. It then reviews energy modelling tools to identify their applicability to 100% RE analysis. The review and perspectives presented in this study will be valuable in developing a common integrated methodology and modelling tool for analysing full renewable energy adoption in countries or regions with best trade-offs, using performance indices that have not been previously used. It will also help with proper national and regional energy resources and system planning for new energy projects and installations, contributing to sustainable development. [ABSTRACT FROM AUTHOR]

Green bonds have increasingly been utilized around the world as a source of financing for renewable energy development, designed with compliance requirements and measurable economic returns to investors, while mitigating climate change. However, the efficacy of green bond arranged in the emerging economies for financing renewable energy assets and how the underlying risks are managed have remained to be explored. The paper aims to examine the evolving green financial system sponsored by both public and private institutions in managing such risks within China's emerging economy. A case study of green financing for a bundle of wind power assets led by a state-owned enterprise (SOE) reveals an alternative approach by structuring public–private collaboration while stipulating market-based financial incentives to institutional stakeholders under a political economy. This institutional consortium is composed of a state development bank, a commercial bank, credit rating agencies, institutional and private investors, regional power purchasers, and carbon trading entities. Financial stakeholders' risk in such emerging sustainable investment is moderated by these participating institutions and structured "upsides" from carbon trading aligned with the framework of green finance and standards for green bond development. The results reveal the potentials of scaling up the development of renewable energy by adequately managing and sharing key risks, while allocating substantial funding into renewable energy projects under such a green financial system that is to be complementary with a scalable post COVID-19 economic recovery. [ABSTRACT FROM AUTHOR]

Climate change poses profound threats to the Earth and its people. Its mitigation, therefore, demands common but differentiated actions with comprehensive and coordinated approach. The global community has pledged to mitigate various greenhouse gases in some international soft law instruments. Exploitation of renewables to generate energy and produce electricity is simultaneously suggested for the last couple of decades as a viable alternative in mitigating climate change. This gets momentum with the adoption of the historical and universally ratified Paris Agreement in 2016 where energy is placed at the heart of the Agreement. Energy, where renewable energy is a branch, is generally regulated and governed domestically and so, international legal regime is still evolving in this regard. In the absence of any specific and direct international instrument on energy and renewable energy, published literatures have considered this topic from different directions ranging from climate change to the principle of national sovereignty, economic, trade and investment issues. In this backdrop, this paper aims to introduce various renewable sources, prospects and challenges in their promotion that may help to mitigate the adverse effects of climate change. Relevant international law provisions have been evaluated, performances of the relevant regional and international organizations active in this sector are highlighted and some of the disputes in this area considered in international forums are duly addressed. It is revealed that strong political will of the global community in fulfilling their commitments made so far in different international forums is the key to transforming the world into a better one for the future generation. [ABSTRACT FROM AUTHOR]

A harmful impact of climate change and global warming has concerned various sectors of the international community. Numerous energy policies aiming at climate change mitigation have been implemented on a national and global scale. Renewable energy technologies (RETs) play a critical role in enhancing sustainable solutions that significantly limit greenhouse gas (GHG) emissions. Such innovative technologies can facilitate energy transition through providing, e.g., energy security, sustainable development, and effective usage of indigenous resources. However, the commercialization of RETs is extremely challenging. The barriers can be of a different nature, although this study focused on socioeconomic and regulatory issues. There is ample evidence that energy policies play a central role in supporting adoption of renewables. It is also claimed that RETs require the whole ecosystem to support their successful diffusion. In this study, we explored multifarious barriers for widespread RET diffusion in two European Union countries, Finland and Poland, indicating the most common barriers existing in the literature as well as analyzing major bottlenecks from the viewpoint of renewable energy companies' executives. We also present statistics of the most commonly used RETs in these countries in order to express the diffusion issues more appropriately. The research shows that inflexible, ineffective, and excessive regulatory frameworks; limited financing options; as well as an insufficient level of societal awareness have been seen as the main bottlenecks for RET diffusion in both countries. The outcomes of this study provide useful insights for the researchers in the energy transition field as well as practical managerial and regulatory implications aimed at overcoming these challenges. [ABSTRACT FROM AUTHOR]

In recent decades, there has been a positive trend in world politics in the field of promoting territories' sustainable development. At the same time, one of the most relevant areas is to promote the transition to renewable energy sources (RES), which correspond to one of the UN's goals—Sustainable Development Goal 7 (SDG 7) "Ensuring universal access to affordable, reliable, sustainable and modern energy sources for all". This article is devoted to the study of the renewable energy sources' impact on the sustainable development of the Russian Arctic zone. The authors chose the level of carbon dioxide (CO2) emissions as an indicator reflecting the impact of RES on sustainable development, since this factor is one of the main factors for assessing trends in the activities of countries aimed at achieving progress on most of the Sustainable Development Goals of territories. The hypothesis of the relationship between the use of renewable energy sources and the achievement of progress on the Sustainable Development Goals, one of the indicators of which is the level of CO2 emissions, was tested and confirmed. An econometric analysis of panel data for 15 countries that are actively implementing the concept of sustainable development, including decarbonizing policies, was carried out, where the resulting indicator for achieving progress on the SDG was the amount of CO2 emissions. The factors influencing the resulting variable were indicators selected based on a review of existing models, as well as indicators of the Sustainable Development Goals' achievement. Using an econometric analysis of interdependence, the indicators of progress towards the Sustainable Development Goals that are more likely to have an impact on the level of CO2 emissions were identified. These are electricity consumption, the share of renewable energy sources in the energy balance, the average per capita income of the population, and carbon intensity. Based on the results obtained, it can be concluded that renewable energy sources are a factor contributing to the achievement of progress on the Sustainable Development Goals. The results obtained are also applicable to the Arctic region, since all countries that have territories in the Arctic zone adhere to the policy of decarbonization and try to reduce the use of fossil fuels. [ABSTRACT FROM AUTHOR]