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This paper delves into an econometric analysis to uncover the differences between Nordic European Countries - NEC (Norway, Denmark, Finland, Sweden) and South-East European Countries - SEEC (Greece, Bulgaria, Romania, Hungary). The focus is on exploring the interplay among electricity generation from Renewable Energy Sources (RES), CO 2 emissions, urban population and GDP per capita in these two European regions. The study employs cross-sectional dependence, first and second-generation panel unit root tests, Pedroni panel and Westerlund panel cointegration tests, ARDL, Dumitrescu-Hurlin causality test to establish the relation among variables. The findings reveal that in both regions, CO 2 emissions are significantly influenced by GDP per capita, urbanization and RES generation. Furthermore, urbanization plays an important role. When examining causality in SEEC, three bidirectional relationships are observed: urbanization and CO 2 , urbanization and GDP, urbanization and generation from RES, and two unidirectional causalities: CO 2 and GDP, generation from RES and CO 2. In contrast, for the NEC, there are two bidirectional causalities: urbanization and CO 2 , urbanization and generation from RES, and two unidirectional causalities: GDP and CO 2 , generation from RES and CO 2. These results highlight the nuanced and varied nature of environmental and economic dynamics across various European regions. • Relationship between CO 2 emissions, GDP per capita and electricity production from RES. • Investigating two groups of EU countries located in the North and SE Europe. • Estimations with Fully Modified and Dynamic Ordinary Least Squares. • Causality and cointegration between variables. [ABSTRACT FROM AUTHOR]

This paper aims to explore whether the female share on the boards of directors of companies influences CO2 emissions in both developed and emerging markets. Furthermore, the influence of cultural diversity on the board of directors on CO2 emissions is analysed. A sample of companies belonging to the MSCI and MSCI Emerging Market indices in Europe over ten years (2010–2019) was analysed using regression models with panel data. The results demonstrate that in both developed and developing markets, the ratio of women to men on the board of directors is inversely related to the company's CO2 emissions, which support legitimacy theory in two aspects: it fulfils the right to equality and non-discrimination for women, and it also reduces CO2 emissions. In general, cultural diversity had a negative influence on CO2 emissions. This research is relevant for policymakers and managers seeking to improve sustainability and equality policies in companies. If gender equality in corporate monitoring roles is environmentally beneficial for the planet, legislators will support quota policies. In addition, shareholders will have an incentive to implement gender equality policies, as they will legitimise the company in the eyes of society, which has economic benefits. On a practical level, this work will contribute to achieving gender equality in corporate governance and improve the understanding of factors influencing CO2 emissions to the environment. This study contributes to previous research since it is the first time that developed and emerging countries have been analysed with the same methodology in relation to gender and CO2 emissions. Moreover, this research differentiates between emission-sensitive and insensitive sectors, and it is the only study to carry out a sector-by-sector and a country-by-country analysis. Furthermore, cultural diversity on corporate boards has been scarcely studied so far in relation to CO2 emissions. • Gender diversity on boards of directors is associated to lower CO2 emissions. • Cultural diversity on boards of directors is positively related to CO2 emissions. • Improving gender balances on board of directors is a sustainable strategy. • Gender equality policies on corporate boards favor climate action and life on land. • Legal gender quotas on corporate boards contribute to good health and well-being. [ABSTRACT FROM AUTHOR]