Search

Recently, there has been rising global concern regarding the importance of achieving environmental sustainability. Consequently, researchers and policymakers have focused on identifying and evaluating the various elements that contribute to an individual's ecological footprint and environmental consequences. Therefore, this study provides an in-depth understanding of the roles of green technology, research and development (R&D), and environmental policies that help attain environmental sustainability in Ghana. The present study utilized both the nonlinear autoregressive distributed lag (NARDL) and autoregressive distributed lag (ARDL) techniques to evaluate the long and short-run relationships between explanatory variables from 1990 to 2022. The study compares the results of NARDL and ARDL techniques. The findings reveal that the NARDL (0.999) analysis had a greater impact on the ecological footprint in Ghana than the ARDL (0.996) analysis. Under the ARDL technique, green technology has a negative impact on ECF in both the short and long run, and R&D also decreases ecological footprint (ECF) in the long run. Environmental policies had a negative impact on ECF in both the short and long run. Based on the NARDL approach, an adverse change in GT had a negative impact (0.004) on the ECF in both the short and long run. In contrast, a negative change in R&D has a negative impact (0.007) on the ECF in the short run, and a positive change in R&D negatively affects the ecological footprint in the long run. Notably, a positive change in environmental policies had a significant negative impact (0.040) on the ECF in the short and long run. This study suggests that policymakers should encourage and support the adoption and application of green technology and the development of robust environmental policies, as these measures can significantly contribute to decreasing the ecological footprint and fostering environmental sustainability. • This research assesses factors for attaining environmental sustainability in Ghana. • This study utilizes the ARDL and NARDL methodologies. • Research and development decrease ecological footprint. • Green technology can contribute to reducing ecological footprint in the long run. • Environmental policies decrease ecological footprint in the short run. [ABSTRACT FROM AUTHOR]

Urban green spaces assume a pivotal role in city-level nature-based solutions for sustainable development. Parks, street greening, and community greens play a significant role in regulating the urban microenvironment, enhancing subjective well-being, and increasing regional attractiveness. Additionally, urban greenbelts have the capacity to control urban sprawl, thereby influencing housing prices and population distribution. However, the exisiting urban models have typically addressed greenbelts and other green spaces in isolation, resulting in fragmented planning strategies. This study aims to establish a novel spatial equilibrium model that accurately assesses the socio-economic effects resulting from the combined impact of various urban green spaces. This model encompasses green infrastructure components and carefully balances their appeal against the consequent rise in housing costs. The proposed model can elucidate the latent synergistic interactions among multiple urban green policies, which enables urban policymakers to access the multifaceted impacts of greening policy combinations. and suggests that combining different urban greening policies can mitigate the negative effects of a single policy type, such as population redistribution. A case study based on empirical data from Shanghai, China, has been employed to identify the additional value associated with diverse urban green spaces. The scenario analysis suggests that combining different urban greening policies can alleviate the negative impacts of urban population relocation. These findings furnish urban planners and policymakers with novel insights to develop the distribution strategy of urban green spaces via judicious policy integration. Consequently, the proposed model furnishes a novel academic standpoint on the role of urban green spaces within the context of nature-based solution for sustainable development of metropolitan conglomerates and nascent urban agglomerations amidst the evolving post-COVID-19 environment. [ABSTRACT FROM AUTHOR]

As an overarching goal of the European Union's (EU) policies, sustainable development has become one of the trickiest challenges in the EU. Despite the burgeoning literature on sustainable development in EU member states, few studies have explored the relationship between green cooperation and sustainable development. From the resource orchestration perspective, we aim to investigate how EU green cooperation affects member states' pursuit of sustainable development. Empirically, we constructed a sample of well-documented EU joint green projects, and found that the participation of the higher education sector (HES), business sector (BUS), and government (GOV) in EU green cooperation contributes to achieving its member states' sustainable development goals in different ways. Specifically, the contributions of the HES and BUS, compared to those of the GOV, are more essential for EU green cooperation projects, because of their dominant roles in green knowledge generation and carbon emissions make them pivotal for the EU member states' sustainable development. Moreover, our findings suggest that green cooperation among the HES, BUS, and GOV has a more significant impact on EU member states' sustainable development when those states possess a stronger capacity for transnational knowledge spillovers and a higher national digital level. These findings have important implications for the design of green policies in pursuit of sustainability within the EU region. [ABSTRACT FROM AUTHOR]

In the domain of global socio-economic dynamics, the pivotal role of food production (FP) cannot be overstated. It constitutes the bedrock of fundamental human necessities while being inexorably linked with critical aspects such as economic expansion, societal equilibrium, and geopolitical interplays. The multifaceted nature of FP appears through its direct impact on macroeconomic indicators and its latent influence on international relations and policy-making. This critical nexus underscores the imperative for a comprehensive understanding and strategic management of food production processes to sustain and enhance global socio-economic stability and growth. Investigating the nexus between green finance (GF) and FP is pivotal for ensuring national security and promoting sustainable economic development. This research thus paper examines GF's impact on FP in China as outlined in the 2017 green finance policies. It employs the difference-in-differences (DID) method and analyzes a balanced panel dataset comprising 282 cities in China from 2009 to 2020. The results show that GF has an inhibitory effect on FP, and this remains valid after a range of reliability checks, including parallel trend assessments and placebo tests. Further findings of transmission mechanism analysis indicate that non-agricultural factors and financial exclusion are critical for GF's inhibitory effect on FP. Heterogeneity analyses show that GF's inhibitory effect on FP is more pronounced in the main food-producing areas, the main food-marketing areas, and cities with better infrastructure. The empirical results of this paper comprehensively illustrate GF's impact on FP and how it contributes to the achievement of food security objectives. [ABSTRACT FROM AUTHOR]

The growing urgency of environmental problems, such as climate change, pollution, and waste management, has highlighted the importance of eco-innovation. It includes the development of sustainable solutions for goods and services. As corporations adopt sustainability practices, governments are increasingly essential in propelling eco-innovation. Innovation and economic growth are inextricably linked since innovation helps reduce costs, increases productivity, and builds knowledge. Eco-innovation, requiring stakeholders' collaboration and knowledge sharing where public policy plays a critical role in fostering eco-innovation, is frequently catalyzed by climate change and environmental issues. This paper provides an assessment of the public policy of several countries and its part in promoting eco-innovation. It explores how policy tools such as research and development investments, regulations, incentives, and infrastructure can be used successfully. It also explores how such instruments influence small and medium enterprises due to their importance in environmental sustainability policy. This research contributes to knowledge and adds to the literature by offering a global approach to the subject, complementing previous regional/single-country studies. It demonstrates the worldwide consequences of policy actions on eco-innovation and provides recommendations for policymakers, businesses, academics, and environmental stakeholders. The results highlight how governmental support is integral to ensuring the sustainability of a green future with economic benefits. [ABSTRACT FROM AUTHOR]

Green energy efficiency (GEE) is pivotal for sustainable economic growth, particularly in the context of China's ambitious environmental goals. This study assesses the impact of Green Financial Reform and Innovation Pilot Zones on GEE from 2005 to 2020, using the SBM-GML method and a Double Difference Model (DID). Findings indicate a significant improvement in GEE within these zones, driven by advancements in green innovation and environmental regulation. At the micro level, firms in pilot zones show enhanced Environmental, Social, and Governance (ESG) performance and experience fewer financial constraints. The effectiveness of green finance policies is more pronounced in resource-rich and financially efficient regions, suggesting that these initiatives can significantly contribute to sustainable development. Based on empirical evidence, we recommend expanding pilot zones, promoting green technological innovation, and developing tailored green finance policies to address regional ecological sensitivities. [ABSTRACT FROM AUTHOR]

This study aimed to reveal how China's green finance reform and innovation demonstration zone policy affects ecologically sustainable development under the constraints of government environmental attention. Employing multi-period DID (Difference-in-Difference) and DDD (Difference-in-Difference-in-Difference) as the base model, the study tested the mechanism of the policy's effect on ecologically sustainable development, using panel data from 277 prefecture-level cities in China from 2006 to 2020. Endogeneity tests including Two-Stage Least Squares (2SLS), counterfactual tests, and other robustness checks, were employed to enhance the study's validity. The research findings are as follows: (1) The policy effectively promotes ecologically sustainable development, and this conclusion remained valid even after conducting several robustness tests. (2) The more pronounced the government's emphasis on environmental preservation, the greater its efficacy in fostering ecologically sustainable development. (3) The stimulating effect of the policy on ecologically sustainable development is more pronounced in cities with higher ecological quality and a larger population. This study not only offers new analytical perspectives for comprehensively investigating the green finance policy but also emphasizes that enhanced policy outcomes hinge on the implementation of green financial reforms and innovations tailored to local conditions. Additionally, it provides valuable policy insights for optimizing the government's role in fostering ecologically sustainable development. (e.g., optimizing the governmental role in fostering ecologically sustainable development, enhancing both the scope and intensity of green finance policy, and harnessing the synergies between green finance policy and environmental protection policy). [Display omitted] • Green finance policy can improve ecologically sustainable development. • Government environmental attention can promote the effectiveness of green finance policy. • Focuses on 277 prefecture-level cities in China between 2006 and 2020. • Uses multi-period Difference-in-Differences (DID) as the base model. • China should give high priority to green finance policy to improve sustainable development. [ABSTRACT FROM AUTHOR]

The significance of the impact of trade on sustainable development cannot be overstated. Even though there is a large amount of literature examining the trade - environment connection, most of the studies that have been done so have primarily examined variables like trade openness and foreign direct investment, ignoring the impact of particular trade policy tools, like tariffs. Moreover, there is a pertinent concern about aggregation bias in aggregate estimations, which could lead to inaccurate assessments of the overall connections and potentially misguide policymakers. In contrast to the prevailing trend, this study delves into the influence of trade policy, specifically tariffs, on the environmental degradation in 20 African nations. The investigation also addresses the issue of aggregation bias, aiming to provide a comprehensive understanding of the trade policy-environment link. The panel long-run estimates, employing the PMG estimator, reveal a significantly negative influence of tariffs on ecological footprints. This suggests that, in this context, tariffs do not create market inefficiency but rather contribute to strengthening environmental quality in the African sub-region. The findings underscore the importance of considering specific trade policy instruments in environmental policymaking. Policymakers in the region are presented with an opportunity to strategically utilize tariffs as a tool to address environmental degradation issues. The study further highlights that the relationship is negative at the panel level but positive at some of the individual country-level, indicating the presence of aggregation bias in estimating the trade policy-environmental dilapidation association on a panel scale. As aggregation bias may lead to misguided environmental policies, policymakers are prevailed on to carefully consider both panel and individual country-particular level when formulating trade and environmental strategies. [ABSTRACT FROM AUTHOR]

Environmental protection and sustainable development are now profoundly ingrained in the public consciousness in the modern era of the global green revolution. First, this paper uses an evolutionary game model to theoretically analyse the impact of environmental regulation and green finance on enterprises by dissecting the game behaviour between local governments, banks and enterprises. Then, we incorporate entrepreneurial spirit into the model to determine whether entrepreneurial spirit accelerates the achievement of green sustainability objectives. Environmental regulation and green finance are found to contribute substantially to the innovation of green technologies by local enterprises, while entrepreneurial spirit accelerates this process. Finally, we empirically test the findings based on a prefecture-level panel dataset from 2007 to 2020. We find that green finance has a positive impact in Central and Western cities of China, while Eastern cities are in greater need for government environmental regulation controls. For entrepreneurial spirit, the incentive effect of entrepreneurial spirit on the level of green technology innovation is more significant in Central and Western regions of China. This paper enriches the field of research on entrepreneurial spirit and regional green sustainable development by providing empirical evidence for the evaluation of environmental regulatory and green financing policy impacts. [ABSTRACT FROM AUTHOR]

The escalating demand for resources in urban and rural construction development raises the crucial question of achieving green development within limited resource constraints. This study delves into the interplay between environmental policy and green development in urban and rural construction. Utilizing the spatial Durbin model for analysis, findings reveal that investment-oriented environmental regulation significantly impacts green development and positive spillover effects in neighboring regions when considering spatial weight matrices. In contrast, cost-based environmental regulations positively affect green development when spatial interactions are disregarded. However, they exhibit negative effects at the spatial level, potentially leading to a "pollution relocation" phenomenon. Although the influence of R& D subsidy-based environmental regulations on green development is not significant, their impact becomes notable upon considering spatial interactions, potentially generating positive effects across regions through mechanisms such as technology diffusion and knowledge transfer. Furthermore, from an endogeneity perspective, the impact of environmental regulatory tools on green development exhibits a time lag effect. Moreover, investment-type regulation in the eastern regions significantly fosters green development, whereas cost-based regulation shows a suppressive effect; investment-type regulation in central regions has a positive spillover on neighboring areas; and R&D subsidies in western regions negatively impact local green development. Moreover, the quality of governmental institutions, market integration, and technological innovation are key factors influencing green development in China's urban and rural construction. This study reveals the direct and indirect effects of various environmental policy tools on green development in urban and rural areas. It emphasizes the importance of considering spatial interactions in implementing environmental policies, providing a theoretical foundation and practical guidance for optimizing environmental policies. [ABSTRACT FROM AUTHOR]

Green credit can alleviate the financing constraints of green enterprises, and thus is an important policy to encourage green development and mitigate climate change. However, how green credit affects the technological innovation of clean energy enterprise (TICEE) and the role of corporate policy catering behavior (CPCB) both need to be further explored. Therefore, the impact mechanisms of green credit and the roles of CPCB are empirically tested by the mediation model and moderation model, respectively. Compared with large, eastern and mature enterprises, green credit plays a stronger positive role in the technological innovation of small, central and western and growing enterprises. Green credit optimizes enterprises' debt financing by alleviating financing constraints, reducing debt costs and extending debt maturity structure, thus driving technological innovation. Besides, the two most typical types of CPCB — research and development (R&D) manipulation and rent-seeking — weaken the positive effect of green credit on TICEE. However, CPCB weakens less on the quality of innovation of large, mature and eastern enterprises. Accordingly, green credit should be strengthened to promote TICEE, and the supervision of corporate speculation should also be strengthened to avoid the policy's failure. [Display omitted] • Green credit promotes the technological innovation of clean energy enterprises. • Corporate financing constraints, debt cost and debt maturity mediate the effect. • Policy catering behavior inhibits the role of green credit in corporate innovation. • The effects are stronger on small, growing enterprises in developing regions. • Various policy priorities and avoiding corporate speculation should be highlighted. [ABSTRACT FROM AUTHOR]

This paper is the inaugural attempt to investigate the herding behavior of firms in the context of environmental orientation to achieve the UN SDGs (Sustainable Development Goals) in the ASEAN region. Insights from the previous literature infer that peer effect is visibly seen in firms across various fields, especially amongst their CSR and ESG performance. Using data from the Thai listed firms, we document strong evidence of peer effects concerning environmental performance and its dimensions (emission reduction, product innovation, and resource reduction). The targeted time frame for the current study is from 2009 to 2019 for which we analyze the firms listed on the Thailand Stock Exchange (SET). Moreover, the results of our study support the fact that mimicking behavior is one of the common behaviors that is followed by the majority of the firms keeping in view their varied purposes which include enhancing their market reputation, increasing profits, attracting shareholders and investors and most importantly raising their sustainability standing. Thus, overall our study highlights the main perspective that peer effects and herding behavior a common practices amongst firms concerning their environmental policies. [ABSTRACT FROM AUTHOR]

Although technological innovation plays a critical role in promoting sustainable development and environmental sustainability, there are few studies in the existing literature that address this relationship. This study aimed to investigate the relationship between technological innovation (TI), renewable energy consumption (REC), natural resource rent (NRR) and ecological footprint (EF) of E-7 countries (i.e. Brazil, China, India, Indonesia, Mexico, Russia and Turkiye) from 1992 to 2018 in order to ensure environmental sustainability in the context of the Sustainable Development Goals (SDGs). Analysis was performed using the ARDL estimator, robustness test and Dumitrescu-Hurlin panel causality (DHC) test. Long-term empirical estimates from the PMG-ARDL technique have shown that a 1 % increase in TI and REC reduces EF by 0.064 % and 0.234 %, respectively, i.e. increases environmental sustainability. At this point, it is possible to say that TI and REC contribute to the achievement of SDG-7 and 13 in E-7 countries while NRR and real income (GDP) were found to impede the achievement of SDG-7 and 13 in E-7 countries through an increase in EF. The results were confirmed using robustness techniques. In the DHC test results, while there is a unidirectional causality from TI to EF, from EF to NRR and trade openness, a bidirectional causality was found between GDP and EF. This study suggests that policymakers should focus on introducing environmentally friendly equipment to reduce environmental degradation, increase the share of RECs and focus on sustainable development within the framework of the SDGs. • We explore nexus between technological innovation affect the ecological footprint in E-7 economies. • Adoption of second-generational panel econometrics techniques. • Technological innovation and renewable energy consumption help in mitigating climate change. • Green growth policies should be pursued in E7 energy mix. [ABSTRACT FROM AUTHOR]

To combat climate change and achieve climate-related Sustainable Development Goals, countries have been applying environmental taxes in various areas. Accordingly, this research analyzes the role of environmental tax in ensuring environmental quality. In doing so, the study focuses on G7 countries excluding Canada and Italy because of data unavailability, considers tax-based environmental taxes as the proxy of environmental precautions, uses load capacity factor (LCF) as the most recent environmental quality proxy, makes disaggregated and aggregated level analysis, performs novel quantile methods, and uses data from 1995/Q1 and 2020/Q4. The results present that at higher quantiles (i) energy-related environmental tax stimulates LCF in the United Kingdom (GBR) and the USA; (ii) resources-related environmental tax is beneficial to LCF in GBR, whereas it is partially helpful in France and Germany, and harmful in Japan and USA; (iii) transport-related environmental tax is beneficial for GBR, whereas it is partially helpful for France and Japan, and harmful for environmental quality in Germany and USA; (iv) total environmental taxes are good for GBR, whereas it is partially beneficial for France and harmful for environmental quality in Germany, Japan, and USA; (v) disaggregated and aggregated level environmental taxes have a causal impact on LCF across various quantiles; (vi) robustness of the results is validated. Thus, the study highlights the varying role of environmental taxes across countries, quantiles, and tax types on environmental quality. Hence, G7 policymakers should consider the changing structure in environmental policy formulation so that environmental tax practices can be beneficial in supporting environmental quality. [Display omitted] • The study examines the role environmental taxes (ET) on LCF in G7 countries. • The study applies novel quantile methods for the period 1995/Q1-2020/Q4. • ET have a heterogeneous effect on LCF in the countries. • United Kingdom benefits ET, while there is partial benefit for France and Germany. • The results are robust based on alternative economic method. [ABSTRACT FROM AUTHOR]

This study investigates the role of foreign direct investment (FDI) in facilitating the transition toward low carbon societies in Latin America from 1990 to 2022, in order to investigate the effects of FDI among the green transition process and contribute to the design of new ad hoc green FDI policies. Additionally, we introduce the Low Carbon Transition Curve hypothesis as a framework for understanding the relationship between income and the transition to green economies in the selected countries. Through the application of cointegration regression analysis, preceded by the examination of unit roots and cointegration, we uncover notable findings. Our results indicate that the impact of FDI on the consumption of renewable energy exhibits heterogeneity across Latin American countries, as evidenced by the lack of statistical significance in the renewable/fossil fuel mix consumption of energy. However, it is important to note that FDI has a positive and significant effect on the promotion of renewable energy consumption. Furthermore, our analysis confirms the statistical significance of the income-low carbon transition hypothesis across all regression models, suggesting that income per capita plays a pivotal role as a driving factor in countries' transition to green economies. In light of these findings, it is recommended that countries utilize FDI to reduce their dependency on fossil fuels by offering incentives for green FDI, which can contribute significantly to the transition process. These practical implications can guide decision-making processes and support the implementation of measures that contribute to a more sustainable and environmentally conscious energy sector in Latin America. • This paper explores the role of foreign direct investment (FDI) in promoting the transition to low carbon societies. • We introduce the Low Carbon Transition Curve hypothesis to conceptualize the relationship between income and the green transition. • We employed fully modified ordinary least squares and canonical cointegration relationship estimation. • Estimates produced evidence that the FDI contributes to a more intensive use of renewable energy. • The analysis supports the significance of the income-low carbon transition hypothesis. [ABSTRACT FROM AUTHOR]

This paper chooses 98 mining cities in China from 2007 to 2021 as research samples. It investigates the policy practice of green development in mining cities according to the point of view of policy combination. We establish a super-efficiency model considering undesirable output to measure the green development level of mining cities and further construct a dynamic panel model based on the Gaussian mixture model (GMM) to test the transmission mechanism and heterogeneous effect of different types of environmental regulation to promote the green development of mining cities. The findings demonstrate that environmental regulations about command control, market incentives, and public participation can all help mining cities develop more sustainably. Additionally, there is a nonlinear relationship of an inverted "U" shape between the degree of green development in mining cities and environmental regulations related to command control. Combining policies can encourage the green development of mining cities, but there are crowding-out and substitution effects when environmental regulations are combined with market forces. Environmental regulation promotes urban green development by improving the energy consumption structure of mining cities. In this process, the level of digital development positively regulates the impact of environmental regulation on urban green development. Therefore, the government should choose environmental regulation tools and combinations according to local needs to achieve a multi-pronged effect of energy structure improvement and urban green development and use digital technology to support the green development of mining cities. • Command-controlled, market-motivated, and public-participating environmental regulations can significantly promote urban green development by promoting the improvement of energy structure. • There is an inverted' U' -shaped nonlinear relationship between the intensity of command and control environmental regulation and the green level of mining cities. • The level of digitization can positively regulate the relationship between environmental regulation and urban green development. • The combination of environmental regulations have a significant positive impact on urban green development. • The combination of environmental regulations has heterogeneity in urban green development due to factors such as regional resource endowment. [ABSTRACT FROM AUTHOR]

With China's proposed green development strategy, environmental protection investment needs are growing exponentially, and government funding alone is inadequate to meet the massive demand. To encourage social investment in green industries and achieve green development goals, the authorities implemented the major green finance policy entitled the Guidance on Building a Green Financial System (GBGFS) in late 2016. Whether this policy effectively promotes the development of environmentally friendly (EF) firms is an essential under investigated question. This study employs a difference-in-differences approach to explore whether and how the GBGFS affects EF firms' total factor productivity (TFP) with a sample from 2012 to 2021. Our benchmark regression and robustness tests demonstrate that the GBGFS effectively promotes EF firms' TFP. We also obtain three notable research findings with a number of additional analyses. (a) Although there is a certain lag, the policy effect was obviously enhanced with the passage of time. (b) Our threshold effect analyses reveal that the enhancing effect of the GBGFS on EF firms' TFP only becomes significant when research and development (R&D) investment, profitability (ROA), and government subsidies (GSF) exceed certain values. Further analysis demonstrates that firms with higher ROA and more GSF can effectively increase R&D. (c) Finally, GBGFS implementation has a greater impact on firm TFP in China's more developed region than its less developed regions. The findings suggest that regulatory authorities should persist in enforcing the GBGFS policy and encourage corporate R&D investment. In addition, the central government should design targeted policies based on the characteristics of different regions to improve the policy effect. • The Chinese authorities implemented the GBGFS on August 31, 2016. • The GBGFS effectively promotes EF firms' TFP (this result is robust). • The policy effect gradually expanded as the GBGFS was enforced over time. • The policy effect becomes significant when R&D, ROA and GSF exceed certain values. • The GBGFS has a greater impact in more developed region than less developed regions. [ABSTRACT FROM AUTHOR]