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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]

The EU has committed to make Europe the first climate-neutral continent by 2050. Reaching this objective requires massive changes in the region. The biggest challenge is that the green transition happens without sacrificing economic progress and guaranteeing justice and inclusiveness. This pledge implies that every country be capable of addressing the trade-offs between targets while remaining committed towards the common decarbonisation goal. Our paper analyses the success with which countries are carrying out the energy transition. We propose an enhanced hyperbolic distance function and a stochastic frontier analysis approach to model the joint attainment of economic development, environmental sustainability, and energy equity. We apply our model to an unbalanced panel dataset of 29 European countries for the period 2005–2018. Our estimates show that the average performance of the economies has improved over time. The results also highlight the pivotal role of a sustainable economic development with clean energies for both slashing CO 2 emissions and fostering energy equity. Moreover, we find convergence in countries' performance, being this convergence slightly higher for the EU-15 countries compared to the rest. Finally, we show that a higher share of renewable energy sources helps countries that are lagging behind to reach their optimal performance level. [ABSTRACT FROM AUTHOR]

Hydrogen is among the energy carriers, which are most often considered for bringing about a sustainable energy system. Yet, so far, hydrogen has not delivered as an energy carrier. The core objective of this paper is to provide a comprehensive analysis of the state-of-the-art and the future prospects of green hydrogen in the European energy system from economic, energetic and CO 2 emissions point-of-view. The analysis shows that there are some increasing opportunities for hydrogen use in industry and in the transport sector, when electrification is not possible or is too expensive, as well as a storage in the European electricity system. However, a hydrogen-based energy system will remain a vision at least over the next decades. The major reason for this is the unfavorable economics mostly due to high investment costs in the whole supply chain. In addition, the overall efficiencies in the hydrogen chains are moderate in general. The full environmental benignity of hydrogen as an energy carrier is only provided when renewable energy sources are used for hydrogen production. However, in Europe, the potentials for green hydrogen are very limited due to the insufficient expansion of renewable electricity generation. For this reason, many European countries are considering options for green hydrogen import. The future of hydrogen is highly dependent on the supporting policy framework. To reduce the risk in the investment in hydrogen infrastructure, as well as to justify the promotion of green hydrogen, it is very important that Europe works out a very clear and realistic long-term implementation strategy. • Hydrogen might have potential in the European energy system, yet a hydrogen-based energy system stays visionary. • Green hydrogen from renewable electricity via electrolyzers is key for environmental benefits and decarbonization. • Hydrogen should be prioritized for uses where electrification is not feasible. [ABSTRACT FROM AUTHOR]

• Investigation of GHG pollutants persistence in Europe and major economic areas. • Mean reversion properties and the integration factor is examined for CO2, CH4, and NO2 (2000-2021) • Empirical evidence of mean reversion in CO2 emissions across all countries. • CH4 and NO2 show reduced persistence and not all countries exhibit mean reversion properties. • These empirical findings highlight policy progress, but underscore the need for further efforts. This paper investigates the persistence of GHG in Europe, evaluating the effectiveness of government policies, including the Kyoto Protocol and the EU Council commitment. Mean reversion properties, and the structure of the integration factor were examined to determine the degree of persistence across markets and assess policy effectiveness. The analysis focuses on CO 2 , CH 4 , and NO 2 pollutants, with monthly data starting in January 2000 and ending in December 2021 from major European countries, and the US, Japan, Brazil, China, and India for comparison purposes. Empirical results show clear evidence of mean reversion in CO 2 emissions observed across all countries, indicating certain degrees of stabilization. Similar patterns are seen for CH 4 , and NO 2 , observing reduced persistence of these pollutants; however not all countries exhibit mean reversion properties. Thus, these findings highlight policy progress in stabilizing GHG emissions, particularly for CO 2 , but underscore the need for further efforts to achieve a substantial emissions reduction. [ABSTRACT FROM AUTHOR]