Search

Denmark has achieved remarkable success in renewable energy generation over the last several decades. However, the country's goals of meeting its 50% energy demand from renewable by 2030 and becoming independent of fossil fuel by 2050 are currently in jeopardy due to the COVID-19 pandemic, which emerged at the end of December 2019 in the Chinese city of Wuhan. This study, therefore, tries to see how COVID-19 affects renewable electricity generation in Denmark using the advanced econometric framework. Several nonlinear estimation techniques such as Fourier ADL cointegration analysis and Markov Switching regression are used to estimate the relationship between the three channels of COVID-19 and renewable electricity generation. The result from the Markov Switching regression reveals that renewable electricity production in Denmark is adversely affected by the enforced lockdown as captured via the stringency index, economic support provided to tackle the pandemic, and daily confirmed deaths of COVID-19. Moreover, the causality test shows that the stringency index and daily confirmed deaths of COVID-19 are important predictors of renewable electricity, but the economic support index has weak causality with renewable electricity. The study finally presents some crucial policy suggestions for Denmark which can help the country achieve its renewable production goals. [Display omitted] • The relationship between COVID-19 and renewable electricity production in Denmark is investigated. • Non-linear estimation techniques are used. • COVID-19 has a multiplier and negative effect on renewable generation. • Denmark requires strategic actions to maintain its process of becoming fossil fuel free in the post-COVID world. [ABSTRACT FROM AUTHOR]

This paper examines the asymmetric and long-run effect of energy productivity on the quality of the environment in Finland. Finland, as one of the Nordic countries, is a major contributor to the global drive to achieve decarbonization by 2050. In effect, this study seeks to contribute to the strides by querying the extent to which shocks in energy productivity make or mar the sustainability of the Finland environment from 1990:Q1 to 2019:Q4. The other impacts of financial development, economic growth, and trade openness are considered in the model estimated by using the novel hidden panel cointegration and nonlinear autoregressive distributed lag (NARDL) methodology. The results reveal a significant asymmetric equilibrium cointegration relationship among the variables over long-run time horizons; energy productivity utilization enhances the quality of the environment in Finland over the long run while trade openness, financial development, and economic growth contribute to environmental degradation in Finland in the long term. In particular, a 1% positive and negative fluctuation in energy productivity lowers carbon emissions by 1.79442% and 0.84799% in the long term. Whereas 1% change in trade openness, financial development, and economic growth trigger CO 2 emissions (CO 2 E) by 1.15298%, 0.271365%, and 2.93402% in Finland's economies. The results of the frequency domain causality model corroborate the NARDL results. On the basis of these empirical findings, this study suggests that policymakers in Finland should consider the asymmetric behavior among these variables in setting their trade, environmental, growth, and energy policies. [Display omitted] • The effect of energy productivity on environmental degradation in Finland is examined. • Nonlinear ARDL, Fourier ADL cointegration and frequnecy domain causality tests are employed. • Energy productivity leads to lower environmental degradation in Finland. • Energy productivity causes environmental sustainability at different frequencies. [ABSTRACT FROM AUTHOR]

This study investigates the effects of refugee migration on energy consumption in Turkey. Our results reveal that: (i) the total number of refugees and the number of people in refugee-like situations reduce per-capita energy consumption in Turkey, (ii) changes in total refugees and people in refugee-like situations lead to significant changes in total energy consumption in Turkey. Hence, policymakers should consider the environmental and energy impacts along with social and economic impacts of refugee migration in the context of sustainable development. [ABSTRACT FROM AUTHOR]

• Examine the impact of bank finance and institutional quality on innovation. • We applied advanced panel econometrics techniques for analysis in BRICS countries. • GDP and bank finance have a positive relationship with technological innovation. • Institutional quality and high-technology exports promote technological innovation. The introduction of new technologies in the fourth industrial revolution (4IR) has increased the world's income by manifold. In this context, the 4IR poses unprecedented implications for the banking sector. This study investigates the effects of bank finance and institutional quality on technological innovation, in the presence of other important control variables such as high technology exports and the gross domestic product (GDP) for BRICS countries. The results of Westerlund's (2007) cointegration method show that there is a stable long-run relationship among the variables. To estimate the long-run coefficient of the explanatory variables, this study uses the CS-ARDL method. The results show that bank finance, institutional quality, high technology exports, and GDP are positively associated with technological innovation. In terms of the policy implications, this study recommends that for industries to adopt innovative technologies, large scale, illiquid capital investment is a prerequisite. Hence, access to finance should be eased, enabling firms to implement advanced technologies and undertake costly ventures of innovation. Countries with developed institutions protect their citizens' property rights and, therefore, provide a conducive environment where they are free to innovate. Therefore, BRICS countries should focus more on strengthening their institutions, in order to improve their innovation performance. [ABSTRACT FROM AUTHOR]

The spread of the COVID-19 pandemic since the end of 2019 has forced an unprecedented lockdown worldwide, and environmental quality was significantly affected by the pandemic and its induced lockdown. The objective of this study is to examine the role of renewable energy, non-renewable energy and COVID-19 case on CO 2 emission in the context of United Kingdom. Several non-linear techniques such as Fourier ADL cointegration test, Non-Linear ARDL, Markov switching regression, and Breitung and Candelon (BC) causality test are employed to attain this objective. The result reveals that there is long run cointegration among the variables in this study. The results demonstrate that positive (negative) shift in renewable energy development decrease (increase) CO 2 emissions while positive (negative) shocks in fossil fuel energy increase CO 2 emissions. Moreover, negative (positive) variation in COVID case leads to a decrease (increase) in CO 2 emissions. Moreover, an uni-directional causal impact was found to run from all the variables – renewable energy, fossil fuel, and COVID-19 case to CO 2 emissions. Finally, several policy recommendations are provided. [Display omitted] [ABSTRACT FROM AUTHOR]

The recent historical increase in energy-related CO 2 emissions globally have put the United States of America's (USA) transportation sector in the spotlight, courtesy of the significantly high pollutant emissions from this particular sector. Taking a cue from this, this paper follows sustainable development goals of the United Nations, and investigates the impact of biomass energy consumption, fossil fuel energy consumption, and economic growth (GDP) on carbon dioxide (CO 2) emissions in the transportation sector of the USA. In doing so, this study also employs the Gregory-Hansen cointegration, Hatemi-J cointegration, cointegration regression (FMOLS, DOLS, and CCR), and Spectral Breitung-Candelon causality test for the period between 1981Q1 and 2019Q4. The findings reveal that (i) a significant nonlinear cointegration among the environmental quality determinants is observed, using the threshold cointegration test. This test determines the structural breaks endogenously and combines two cointegration tests, namely the Gregory-Hansen Cointegration and Hatemi-J Cointegration tests; (ii) while the use of biomass energy consumption and real GDP have a negative effect on CO 2 emissions in the transportation sector, the rising fossil fuel energy consumption is associated with increasing the CO 2 emissions that are stemming from the transportation sector; (iii) in the long-run, biomass energy consumption, fossil fuel energy consumption, and real GDP cause CO 2 emissions to stem from the transportation sector in the USA at different frequency levels. In general, the current study offers policy insights for the transportation sector of the USA and other similar economies that replicate the same conditions. Image 1 • We explore the driving forces of CO 2 emissions in the transport sector for the USA. • We employ advanced time series econometric techniques for empirical analysis. • Biomass energy and real GDP help to mitigate CO 2 emissions in the transport sector. • Fossil fuel energy has a positive impact on CO 2 emissions in the transport sector. • All variables have a causative relationship with CO 2 emissions in the long-run. [ABSTRACT FROM AUTHOR]

In the wake of global climate change and environmental degradation, an urgent action on a global scale is required to decarbonize the energy sector. From fossil fuel to renewables, energy efficiency and technological advancement are the most important factors responsible for an effective energy transformation. The present study investigates the magnitude of mitigating role of energy efficiency (EE), renewable energy (REC), technological advancement (ENVTECH) on Ecological footprint (ECFP) for the sixteen high-income economies of the Organization of Economic Cooperation and Development (OECD) over the period of 1990–2020 by employing various econometric estimations such as panel co-integration, Augmented Mean Group, Common Correlated Mean Group, Random effect, Fixed effect and Mean Group estimation techniques. Moreover, the role of gross domestic product (GDPP) is also observed as a proxy for economic growth. The empirical findings reveal that EE, REC, and ENVTECH improve environmental quality, whereas GDPP is a carrier of environmental degradation in the selected economies. Interestingly, energy efficiency holds the leading position among all observed factors to decarbonize and effectually transform the energy sector to greener production and consumption in the presence of environmentally friendly advancements in technology. The robustness tests results also support the findings of our basic empirical output. Furthermore, a unidirectional causality running from REC, GDPP, and ENVTECH to ECFP, whereas, a bi-directional causality between EE and ECFP is also validated. Any change in these factors will granger cause ECFP. The findings are of significant consequences as the selected OECD economies are expected to gain from energy transition to renewables enabled by energy efficiency and enhancement of environment-friendly technology in the near future. • The role of energy efficiency is evaluated for ecological footprints. • Updated data from 1990 to 2020 is employed via panel methods. • Energy efficiency and renewable energy curb emissions. • Environmental technology also promotes less emissions. • Transition to renewable energy with efficiency is encourage. [ABSTRACT FROM AUTHOR]

The transition from non-renewable energy sources to renewable energy sources is considered a key solution for global warming and a sustainable environment. The eco-innovation is regarding as one of the important sources of this transition, however, the rate of adaptation of renewable energy remains uncomfortably low. The ambiguity still exists whether eco-innovation increases or decreases energy consumptions in both aggregate and disaggregate level. Therefore, this study aims to investigate the effect of eco-innovation along with human capital, and trade openness on energy consumption at the aggregate (total) and disaggregate levels (renewable and non-renewable). For the above-mentioned objective, this study selects OECD countries' datasets between 1990 and 2017. The empirical investigation carries out using econometric techniques such as augmented mean group (AMG) and cross-section autoregressive distributed lag (CS-ARDL). The outcomes confirm that eco-innovation, human capital, and energy price play positive roles in increasing the consumption of renewable energy in the OECD region. In contrast, economic growth and trade openness still promote non-renewable energy consumption in this region. It is suggested that eco-innovation and high- skilled human capital growth be promoted to enhance the ratio of renewable energy consumption. This study further indicates that a sustainable environment could promote green growth through clean energy production and consumption. • The role of eco-innovation, at the aggregate and disaggregate levels are explored. • Cross-Sectional Auto-Regressive Distributed Lags model is utilized. • Eco-innovation, human capital, and energy prices encourage renewable energy. • Economic growth and trade openness promote non-renewable energy. [ABSTRACT FROM AUTHOR]

Since the role of fiscal decentralization cannot be overlooked in tracking sustainable development goals targets of a clean environment and climate mitigation, it is inevitable to understand the comprehensive picture of its link with environmental quality. Unlike past studies, this study investigates the combined influence of energy prices and non-linear fiscal decentralization on carbon emissions in the presence of institutional quality and gross domestic product in the model. It employed advanced econometric panel techniques on data from 1990 to 2018 for the top seven fiscally decentralized Organisation for Economic Co-operation and Development (OECD) nations, including Spain, Belgium, Austria, Switzerland, Germany, Australia, and Canada. The main outcomes are as follows: first, a cointegrating equilibrium link is existent among the study variables. Second, the linear term of fiscal decentralization promotes carbon emissions, while the non-linear term mitigates it. It verified the inverted U-shaped curve between fiscal decentralization and carbon emissions. Third, increasing energy prices for non-renewable energy decrease carbon emission due to a substitution effect. Among other explanatory variables, improvement in the quality of institutions decreases carbon emissions, while the gross domestic product increases it. These findings suggest strengthening fiscal decentralization, lowering non-renewable energy prices, and improving institutional quality to check the deteriorating environmental quality in the study sample and other worldwide regions. • Employed Westerlund cointegration and found long-run equilibrium association. • Applied CS-ARDL and AMG techniques to obtain the influence estimates. • Linear (non-linear) fiscal decentralization promoted (reduced) carbon emissions. • Fiscal decentralization presented an inverted U-shaped association with carbon emissions. • Energy prices and institutional quality mitigated carbon emissions. [ABSTRACT FROM AUTHOR]

The role of a reliable carbon emissions measurement is important for devising a relevant climate policy to deals with environmental problems. Based on trade adjusted statistics of carbon emissions, a relevant climate policy response can be provided, especially following the conference of Paris (COP, 21). To explore the unidentified determinants of CO 2 emissions in G7 countries from 1990 to 2017, this study uses second-generation panel co-integration methodologies. Results of P&Y's slope heterogeneity test and Pesaran's CD test confirm the existence of correlation among cross-sectional units and slope heterogeneity across countries. The results confirm a stable long-run relationship among CO 2 emissions, trade, income, environmental innovation and renewable energy consumption. In the long run, imports and income enhance consumption-based carbon emissions, while exports, environmental innovation and renewable energy consumption are helpful in abating consumption-based CO 2 emissions. The results are also reconfirmed by Augmented Mean Group (AMG) and Common Correlated Effect Mean Group (CCEMG) methods. Based on the results of the Dumitrescu and Hurlin (2012) Granger causality test, it is argued that any policy to target exports, imports, income and environmental innovation significantly changes CO 2 emissions. On the contrary, any policy to support environmental degradation does not affect these variables. Moreover, any policy to target renewable energy sources significantly affects consumption-based CO 2 emissions and vice versa. This might lead the policymakers to adopt strategies that are eco-friendly such as the deployment of renewable energy and environmental innovation to attain sustainable environment. Unlabelled Image • Nexus between trade, income, eco-innovation, renewable energy and consumption-based CO2 emission is examined. • Conducts advanced panel data estimation techniques for empirical analysis. • Consumption-based CO2 emissions is positively affected by income and import. • Export, eco-innovation, and renewable energy help to improve environmental sustainability. [ABSTRACT FROM AUTHOR]