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This study investigates the impact of financial stability on environmental degradation in Turkey, controlling for economic growth, renewable energy consumption, and primary energy consumption between 1990 and 2019. The study employs various statistical methodologies, including LS Unit Root, Fourier ARDL, DOLS, and FMOLS tests. The findings reveal an inverse relationship between financial stability and environmental degradation. Both economic growth and primary energy consumption are found to exacerbate environmental degradation. This study recommends that policymakers incorporate financial stability into policies aimed at reducing CO2 emissions. Furthermore, it emphasizes the importance of investing in renewable energy infrastructure and the transportation sector to effectively mitigate environmental degradation. [ABSTRACT FROM AUTHOR]

Energy efficiency offers a vast, low-cost energy resource for the economy, but only if the nation can craft a comprehensive and innovative approach to unlock it. One of the most viable options is to invest in energy productivity. This study examines the asymmetric and long-run effects of energy productivity on environmental degradation while controlling for renewable energy, economic growth, and financial development, utilizing the nonlinear autoregressive distributive lag model and other robust econometric techniques in the United Kingdom during the period 1990Q1–2020Q4. The United Kingdom is one of the world's wealthiest countries; its environment is being severely strained and is challenged in boasting massive investments to reduce CO2 emissions to 78% by 2035. Given the important scenarios for energy efficiency, this study outcome indicates that (a) energy productivity has been beneficial for reducing carbon emissions; (b) renewable energy sources significantly mitigate carbon emissions in the United Kingdom, and (c) economic growth and financial development cause to increase carbon emissions in the United Kingdom. Given the findings, some policy recommendations abound. The negative statistically significant coefficient of renewable energy is an indication that the expansion of renewable energy is essential to achieving clean and sustainable growth. Furthermore, policymakers should enact new environmental laws that prioritize R&D and embrace cleaner technologies. [ABSTRACT FROM AUTHOR]

Sustainable growth and the reduction of environmental pressures are important priorities that are issues of concern for both developed and developing countries. However, while carbon emissions and ecological footprint are commonly used by researchers in the context of environmental deterioration, a broader and more extensive metric for ecological quality is considered necessary. From this perspective, the load capacity factor provides a more detailed sustainable environment appraisal by simultaneously considering biocapacity and ecological footprint. Limited studies have examined the determinants of load capacity factor (LCAP). This survey attempts to fill the gap, using the case of Japan. Employing the dynamic ARDL approaches, the present research investigates the effect of renewable energy usage, economic growth, economic complexity, financial development, and trade globalization on load capacity factor in Japan for the period between 1980 and 2017. The empirical evidence indicates that economic complexity, economic growth, and financial development adversely impact LCAP, whereas renewable energy usage and trade globalization positively affect LCAP. Hence, we recommend that it is essential for Japan to attain self‐sufficiency in essential goods and minimize its reliance on the rest of the world. Furthermore, policymakers should capitalize on the benefits of trade globalization by adopting additional measures aimed at facilitating trade liberalization. [ABSTRACT FROM AUTHOR]

Using novel Fourier-based approaches, this paper investigates the effect of green logistics and financial innovation on environmental sustainability in China over the period 2000/Q1-2018/Q4. The Fourier ADL cointegration analysis indicates that all indicators are integrated. Additionally, the findings of the Fourier-ARDL long run indicate as follows: (i) Green logistics mitigate environmental degradation and increase environmental sustainability in China; (ii) in contrast, the impact of financial innovation and economic growth decreases the environmental quality and increases production-based CO2 emissions in the region. The research findings offer valuable insights for policymakers, providing a basis for adopting green logistics operations that promote sustainable practices in China. By implementing such practices, policymakers can mitigate the adverse impacts of economic and financial activities in the country, fostering sustainable development and environmental responsibility. [ABSTRACT FROM AUTHOR]

Unlike previous studies in the environment-finance-energy linkage, to analyze the causal and long-run effects of renewable energy and financial innovation on the quality of the environment in India while taking into account GDP and primary energy consumption, this research employs Fourier base approaches, namely Fourier augmented Dickey–Fuller (F-ADF) unit root test, Fourier autoregressive distributive lag (F-ADL) cointegration test, Fourier autoregressive distributed lag (F-ARDL) cointegration test, and Fourier Toda Yamamoto (F-TY) causality test. The outcomes of the present study reveal that (i) financial innovation and renewable energy consumption cause to decrease in environmental degradation in India; (ii) GDP and primary energy consumption increase (and cause) environmental degradation. [ABSTRACT FROM AUTHOR]

This paper investigates whether carbon dioxide (CO2) intensity of gross domestic product (GDP) matters for environmental deregulations in Southern European countries over the period of 1990–2018 while controlling economic growth, globalization, and energy consumption. The present study uses the second generation panel based techniques, namely cross-sectional dependency test, cross-sectional unit-root test, Westerlund cointegration test, augmented mean group and common correlated effects mean group estimators, and Dumitrescu–Hurlin causality test to measure the effect of CO2 intensity of GDP, economic growth, globalization, and energy consumption on environmental degradation. The empirical finding of the present study reveals that the CO2 intensity of GDP is an important factor in determining environmental degradation in South European countries, as the outcomes show that a 1% boost in CO2 intensity of GDP is causing a 1.7728% increase in CO2 emissions. Moreover, a 1% increase in economic growth caused a 0.2568% boost in CO2 emissions. The result is crucial for policy decision-making and can perhaps be applied to take decisive policy actions to mitigate environmental issues. [ABSTRACT FROM AUTHOR]

The quest for ecological sustainability while reducing the impacts of environmental deterioration has become a worldwide endeavour. Furthermore, it is unclear how developing economies such as Brazil can considerably improve environmental quality (EQ). This paper contributes to the ongoing literature by evaluating the effect of green finance, economic growth, political risk, social globalization and green innovation on environmental quality in Brazil. The study used data spanning between 2000Q1 and 2018Q4. Unlike other investigations, the current study used load capacity factor as a proxy for environmental quality, which considers both demand and supply sides of environmental issues. The current study applied the novel dynamic ARDL to capture the short and long‐run nexus. The bootstrap causality test was also applied to capture causal connection instabilities over time. The results of this study are as follows: (1) a significant and positive association was found between political risk, green finance, green innovation and social globalization environmental quality; (2) a significant and negative interplay was detected between economic growth and environmental quality; (3) The time‐varying causality shows a feedback causality at various periods between political risk, green finance, green innovation, economic growth, social globalization and environmental quality. This study also serves as a reference point for governments and policymakers in terms of investing in eco‐friendly technologies in order to improve environmental quality. [ABSTRACT FROM AUTHOR]

Globally, economies have become complex and new technologies have transformed and facilitated the modernization of economies. In the previous literature, economic complexity approach has become one of the popular tools in the development and innovation studies of economic geography. Researchers have found that green technology and eco-innovation approaches should be used to decisively reduce the effects of carbon emission on the environment. However, debates about the impact of economic complexity on environment remain unsettled since some emerging production technologies have far-reaching pollution effects. This study explored the impacts of economic complexity on environmental sustainability in Turkey using the novel Fourier-based approaches, namely: Fourier Augmented Dickey-Fuller (FADF) and Fourier autoregressive-distributed lag (FARDL) models. The Fourier-based approaches indicated that all variables (economic complexity index (ECI), GDP, energy consumption, and CO2 emission (CO2E)) are cointegrated in the long run. Additionally, the FARDL model implied that (i) in the long run, the effect of ECI (as a proxy for economic complexity), GDP (as a proxy for economic growth), and energy consumption on CO2E (as a proxy for environmental quality) is important; (ii) economic complexity decreases environmental degradation in Turkey; and (iii) economic growth and energy consumption negatively affect environmental quality. The results also showed that economic complexity could be used as a policy tool to tackle environmental degradation. The findings also revealed that the fossil fuel-based economy will continue to expand and undermine Turkey's efforts to meet its net zero emission target by 2053. Therefore, policy-makers should take actions and establish diversified economic, environmental, and energy strategies. For policy insights, the Turkish governments can use the combination of tax exemptions and technical support systems to support knowledge creation and the diffusion of environmentally friendly technologies The governments can also impose strict environmental regulations on the knowledge development phases. [ABSTRACT FROM AUTHOR]

This paper aims to capture the effect of environmentally related taxes on environmental quality in Canada while controlling economic growth, financial development, and energy consumption over the period of 1990Q1 to 2020Q4. The present study employs novel econometric approaches, namely, the nonlinear autoregressive distributed lag (N-ARDL) test and the gradual shift causality (GS-C) test. The outcomes of the study reveal that (i) there is long-run cointegration equation between environmental taxes (E-TAX), carbon dioxide emissions (CO2E), economic growth (ECG), financial development (FD), and primary energy consumption (PREC); (ii) E-TAX causes to decrease in environmental degradation in Canada; (iii) PREC and ECG increase (and cause) environmental degradation in Canada; and (iv) financial development also positively affect the environmental sustainability. This effort may also be of great importance for policymakers and decision-makers to better understand the factors of environmental degradation for developing effective tax policies that will alleviate human impacts and contribute to reducing environmental degradation. [ABSTRACT FROM AUTHOR]

Climate change can be mitigated and policies can be catalyzed with the aid of financial institutions. By maintaining and strengthening financial stability, the financial sector's resilience could help mitigate climate‐related risks and uncertainties. Hence, an empirical investigation on the effect of financial stability on consumption‐based CO2 emissions (CCO2E) in Denmark is long overdue. This study investigates the financial risk‐emissions relationship in the presence of energy productivity, energy consumption, and economic growth in Denmark. Furthermore, by adopting an asymmetric approach to analyze the time series data for the period between 1995 and 2018, this study helps bridge this major gap in the literature. By adopting the nonlinear autoregressive distributed lag approach (NARDL), we discovered that the positive variation in financial stability causes a reduction in CCO2E, but the neutral connection was reported between the negative shock in financial stability and CCO2E. The positive shock in economic growth and energy consumption intensifies CCO2E; however, a neutral interaction exists between the negative shock in economic growth and CCO2E. The negative shock in energy consumption has a positive effect on CCO2E, indicating a mitigating implication on environmental degradation. In addition, a positive shock in energy productivity enhances environmental quality, while a negative shock in energy productivity increases environmental degradation. In light of the results, we suggest some robust policies for Denmark and other smaller but wealthy nations. Moreover, in order to develop sustainable finance markets, policymakers in Denmark need to mobilize both public and private finance while maintaining a balance with other economic needs of the nation. The country must also identify and understand potential avenues for scaling up private financing for mitigating climate risk. Integr Environ Assess Manag 2023;19:1485–1494. © 2023 SETAC Key Points: Positive shock in financial stability mitigates consumption‐based CO2 emissions, while the negative shock has neutral effect on consumption‐based CO2 emissions in Denmark.‐. A positive shock in energy productivity enhances the environmental quality, while a negative shock in energy productivity promotes ennvironmental degradation [ABSTRACT FROM AUTHOR]

There is a body of evidence that financial development contributes to the quality of the environment, either positively or negatively. However, a limited number of studies consider the effect of financial stability or financial risk on environmental degradation. As part of the proposed research, the present study contributes to the existing literature on asymmetric financial stability's impact on Ireland's environmental quality, as a major gap needs to be added to the literature. Based on this aim, the present study explores the effect of financial stability on environmental degradation in Ireland while controlling primary energy consumption, economic growth, and renewable energy in Ireland. The study employs a novel Fourier autoregressive distributed lag model (FARDL) approach for Ireland, covering the period 1990Q1‐2019Q4 with quarterly data. FARDL cointegration test results indicate a long‐term relationship between financial stability, primary energy consumption, renewable energy consumption, and CO2 emissions. The outcomes from the long‐term coefficient estimation model based on the FARDL model reveal that (i) financial stability leads to a decrease in environmental degradation in Ireland; (ii) renewable energy consumption promotes environmental sustainability; (iii) primary energy consumption has a negative effect on Ireland's environmental quality. These results denote that Ireland should enhance financial stability and promote renewable energy to reduce fossil fuel consumption to achieve net‐zero targets by 2050. Ireland to implement long‐term financial stability policies to fill the emission gap and achieve a net zero emissions target by 2050. Specific policy recommendations for Ireland's environmental policies are also discussed in the study. [ABSTRACT FROM AUTHOR]

This research aimed to examine the relationship between financial inclusion (FNI), technological innovation (TIN), and natural resources (NRS) and their impact on environmental degradation in the 45‐belt and road initiative (BRI) region from 2001 to 2018. The study utilized advanced econometric techniques, including the generalized method of moments–panel vector autoregressive, as well as traditional methods such as ordinary least squares and dynamic ordinary least squares, to examine the relationship between these factors and environmental degradation, measured by carbon footprint (CFP) and ecological footprint (EFP). The long‐run estimate confirms that NRS and FNI appear to have led to higher regional CFPs and EFP pressure. Meanwhile, the relationship with TIN, economic governance institutions (government effectiveness and regularity quality), and human capital contribute to overcoming environmental degradation and increasing environmental sustainability. The findings of this study have important implications for policymakers and central authorities in the BRI region to address environmental degradation and promote sustainable development. Recommendations for Resource Managers: Natural resources (NRS) and financial inclusion increase the regional carbon footprint (CFP) and ecological footprint.Human capital and technological innovation positively contribute to environmental sustainability.Belt and road initiative (BRI) economies should retain innovative access to financial services, sustainable forest, and biocapacity development to meet environmental disasters.Moreover, BRI economies should not increase NRS used extensively to minimize the regional CFP. [ABSTRACT FROM AUTHOR]

Environmental deterioration is a substantial hazard to sustainable development. To add new dimensions to the discussion. This study aims to consider the impact of patents on environmental technology and environmental degradation in Iceland, along with other indicators, such as economic growth, primary energy consumption (PEC) and trade openness. This effect has not been comprehensively examined in the case of Iceland's economy. To this end, the study adopted novel econometric Fourier‐based estimators. The Fourier‐augmented Dickey–Fuller (F‐ADF) unit root tests, Fourier‐autoregressive distributive lag (F‐ARDL) cointegration test, F‐ARDL for long run estimation, and the Fourier‐Toda and Yamamoto (Fourier TY) causality test to determine the impact of explanatory and control indicators on production‐based CO2 emissions for the period 1995Q1 to 2019Q4. The findings revealed the impact of environmental technology and trade openness is negative and mitigates production‐based CO2 emissions and increases environmental sustainability in Iceland. In contrast, economic growth and PEC were found to have harmful and positive influences on production‐based CO2 emissions and increases environmental deterioration in the region. In addition, the Fourier TY causality test suggests unidirectional causality between these indicators in Iceland and the outcome further confirms that environmental technology and trade openness are vital for decreasing production‐based CO2 emissions in Iceland. Thus, the study findings benefit policymakers in adopting green innovation activities that increase sustainable energy resources and minimize the detrimental effects of a boost in economic activities in Iceland for sustainable development. [ABSTRACT FROM AUTHOR]

Despite Portugal's effort to reduce carbon emissions, the country still emits about 1.6% of the European Union's CO2 emissions. Meanwhile, limited empirical studies have been undertaken in the context of Portugal. As a result, this study examines the asymmetric and long-term impact of CO2 intensity of GDP, energy consumption, renewable energy and economic growth on CO2 emissions in Portugal from 1990 to 2019. The nonlinear autoregressive distributed lag (NARDL) is employed to uncover the asymmetric connection. The findings show that there is nonlinear cointegration among the variables. The long-run estimation reveals a positive change in energy consumption positively affects CO2 emissions, while a negative shock in energy consumption has a neutral effect on CO2 emissions. Furthermore, positive shocks of economic growth and CO2 intensity of GDP enhance environmental deterioration by increasing CO2 emissions. Meanwhile, the negative shock of these regressors positively impacts CO2 emissions. In addition, positive shocks in renewable energy enhance environmental quality, while negative shocks in renewable energy increase environmental deterioration in Portugal. Policymakers should focus on reducing per-unit energy usage and CO2 efficiency gains, which would necessitate a significant reduction in CO2 intensity and energy density of GDP. [ABSTRACT FROM AUTHOR]

For Western European countries, many macroeconomic factors that have influenced environmental quality in several studies have been investigated. In this region, no empirical inquiry has explored the relationship between green technologies, renewable electricity, financial development, economic expansion, and eco-quality. To fill this gap, this inquiry is conducted to estimate the role of green technology innovation and green electricity on ecological balance in Western European countries. This study investigates how carbon dioxide emissions (CO2E) may be influenced by its determinants (economic expansion, renewable energy, environmentally friendly technology) through some robust econometric techniques (second-generation panel unit root, Westerlund cointegration, FMOLS, and DOLS). Empirical findings confirm that renewable electricity and environmentally friendly technological innovations reduce CO2E. However, the economic upsurge is positively correlated with CO2E, suggesting that expanding the market has a deterioration effect on environmental quality. Policymakers in this region should allocate more resources to renewable electricity generation capacities and green technologies in order to minimize environmental damage. Further, the promotion of green and low-carbon energy development will contribute to a new form of global environmental governance. [ABSTRACT FROM AUTHOR]

Many European nations, including Spain, are having difficulties achieving their Sustainable Development Goals (SDGs) objectives. Resultantly, the current research discusses the development of an SDG framework for Spain, which can be utilized as a model for other EU nations. This research examines whether GDP growth, technological innovation, and energy sources (renewable and non-renewable) have any effect on CO2 emissions utilizing data from 1980 to 2018. The study applied the non-linear ARDL (NARDL) to investigate these interrelations. The outcomes from the NARDL revealed that positive (negative) shocks in renewable energy improve environmental quality in Spain. Furthermore, positive (negative) shocks in technological innovation lead to a decrease (increase) in CO2. Lastly, positive (negative) shocks in energy consumption lead to an increase (decrease) in CO2. The results reveal that Spain is on the right path towards decarburization. This research has important policy ramifications for the policymakers and government of Spain as well as neighbouring countries. [ABSTRACT FROM AUTHOR]

This study fills a gap in the relevant literature by exploring the linear and nonlinear effect of energy productivity on environmental degradation based on economic growth, trade openness, and energy consumption variables for the case of Cyprus, over the period from 1990Q1 to 2018Q4. To the best of our knowledge, this is the first study attempt to conduct this nexus for Cyprus, so the empirical findings are likely to shed light on and open a new debate on the subject of environmental sustainability. The empirical findings of the nonlinear autoregressive distributed lag approach revealed that the outcomes of energy productivity instigated a positive (negative) impact on the atmosphere, where a 1% upsurge in positive shock of energy productivity decreased CO2 emissions (CO2E) by 0.265%, and a 1% rise in negative shock caused a 0.837% increase in pollution in the long run. GDP is positively related to pollution in both shocks. Trade results disclosed that trade openness stimulated a positive (negative) influence on the atmosphere. A 1% increase in positive shock of trade openness decreased CO2E by 0.268%, and a 1% growth in negative shock instigated a 0.423% rise in pollution in Cyprus. These results are consistent and supported by both linear and nonlinear techniques. As a part of its long-term climate policy goals, policymakers in Cyprus should invest in energy productivity and R&D that embraces cleaner technology innovations and prioritize cross-cutting environmental technology policies to combat climate challenges. [ABSTRACT FROM AUTHOR]

Environmental sustainability is a pressing global concern that demands urgent attention from policymakers and researchers. The objective of our research is to investigate the influence of economic policy uncertainty (determined by the world uncertainty index) and financial development on carbon emissions, followed by green technological innovation, institutional quality, economic growth, foreign direct investment, energy consumption, and trade in Organization of Economic Co-operation and Development, for the period 2003-2019, to analyse the data, the second-generation econometric techniques are used. We applied the two-stage sequential techniques of the linear panel data model and generalised method of moments approach to tackle the endogeneity problem and report robust findings. The findings of the study revealed that economic policy uncertainty, financial development, economic growth, energy consumption, and trade decrease environmental quality by increasing CO2 emissions, while green technological innovation and institutional quality increase environmental degradation by reducing CO2 emissions. Our evidence-based study provides significant outcomes for green technological innovation and institutional quality conditioning's role in reducing carbon emissions in OECD economies. [ABSTRACT FROM AUTHOR]

The increased consumption of fossil fuels worldwide has resulted in unprecedented historic environmental degradation and global warming. According to the United Nations, this is both the defining crisis of our time and a race the world could win given the right policy attention. Researchers seek to find critical pathways to provide policy recommendations for reducing environmental degradation. This paper aims to investigate the effect of energy productivity on environmental degradation in Germany while controlling for economic growth, primary energy consumption, and globalization for the period between 1990Q1 and 2019Q4. The outcomes of the Fourier ARDL long-run estimates indicate that (i) both energy productivity and globalization have a negative effect on carbon emissions in Germany, and (ii) both economic growth and primary energy consumption have positive effects on carbon dioxide emissions. These outcomes provide significant policy insights to EU members with respect to reducing their reliance on Russian energy imports amidst the rising energy bills and ongoing geopolitical war with Ukraine while increasing investments to realize their energy turnaround policy objectives. [ABSTRACT FROM AUTHOR]

This paper investigates whether the carbon dioxide (CO2) intensity of GDP matters for environmental degradation in an emerging country, namely, Turkey, over the period of 1990–2018 while controlling economic growth, foreign direct investment, and renewable energy consumption. The present study uses both linear and nonlinear time series estimators, namely, the Gregory and Hansen cointegration test, bounds test, nonlinear autoregressive distributed lag (NARDL) model, fully modified ordinary least squares (FMOLS), dynamic ordinary least squares (DOLS), and canonical cointegrating regressions (CCR), to encapsulate the possible effect of CO2 intensity of GDP, economic growth, foreign direct investment, and renewable energy consumption on environmental degradation in Turkey. The empirical finding of the present study reveals that the CO2 intensity of GDP is an important factor to determine environmental degradation in Turkey and the declining CO2 intensity of GDP reduces environmental degradation. Moreover, economic growth is the primary environmental sustainability factor in Turkey. The result is vital for policymaking and can perhaps be applied to take decisive policy actions to mitigate environmental issues. [ABSTRACT FROM AUTHOR]

The present study aims to discover the impact of political risk, globalization and technological innovation on the ecological footprint in the BRICS economies by employing a dataset covering the period between 1990 and 2017 and incorporating non-renewable energy utilization and economic growth as other regressors through the utilization of panel quantile regression. The outcomes established that economic growth, non-renewable energy usage, political risk and technological innovation increase ecological footprint. Conversely, globalization significantly decreases the ecological footprint. The panel ordinary least squares approach serves as a sensitivity test for the robustness of the analysis. Furthermore, the Dumitrescu-Hurlin panel causality test confirmed that a bidirectional causal interaction exists between ecological footprint and the regressors of technological innovation, globalization, non-renewable energy and economic growth, while a one-way causal interconnection runs from ecological footprint to political risk. Notably, the general policy suggestion indicates the need for policymakers to intensively coordinate efforts to combat the serious environmental deterioration in the BRICS economies. [ABSTRACT FROM AUTHOR]

China is one of the largest emitters of carbon dioxide (CO2) emissions in the world. Therefore, it is essential to explore the determinants of CO2 emissions in China. But previous studies so far have not examined how the political risk of this country can affect its CO2 emissions due to the lack of a long-term dataset. Hence, this study aims to capture the effect of political risk on China's CO2 emissions while controlling renewable energy consumption, technological innovation, and the economy's economic growth. We employ Bayer and Hanck cointegration, FMOLS, DOLS, CCR, and frequency domain causality tests to establish the relationship among the variables mentioned above. The outcome of the study reveals that political stability is an important predictor of environmental degradation in China. Moreover, political stability is helpful to lower CO2 emissions, while technological innovation and renewable energy consumption can reduce CO2 emissions, economic growth further deteriorates environmental quality by increasing its carbon emissions. Therefore, the present study recommends that policymakers in China should control political tension in the country to control CO2 emissions and, at the same time, promote technological innovation and renewable energy consumption. [ABSTRACT FROM AUTHOR]

Risks associated with climate change can have an injurious impact on the economy as well as the financial system as a whole. There is a possibility that certain risks, such as losses to financial intermediaries and disruptions in the functioning of financial markets, can aggravate vulnerabilities in the financial system under certain conditions, including sudden increases in the prices of large asset classes. Using the dataset for Norway between 1995 and 2018, this study investigates how financial stability affects environmental degradation in Norway while controlling openness in trade, ecological clean energy, and economic growth. Findings from the results demonstrate that (i) financial stability causes a reduction in environmental degradation; (ii) growth causes carbon emissions to climb significantly; and (iii) renewable energy has been favorable for emissions in Norway. Lastly, surprisingly, trade openness causes a decline in carbon emissions. The study recommends that since financial stability in Norway reduces environmental degradation by incorporating climate-related risks into the financial stability monitoring framework, it can contribute to lowering carbon emissions to a greater extent. Norway's policymakers should conduct detailed analyses of the role of global emissions in long-term petroleum policy and the economic viability of selected climate policy scenarios before implementing such a policy. Moreover, policymakers should be updated on the financial system's vulnerabilities, considering climate-related shocks are likely to affect all financial systems. In addition, policymakers should encourage the use of sustainable energy to raise the availability of reliable, affordable, and sustainable energy to everyone. [ABSTRACT FROM AUTHOR]

The number of studies on the relationship between technological innovation and CO2 emissions has gradually increased in recent years, although there is no clear agreement in the literature. Previous research has revealed both positive and negative consequences of technological innovation on the environment. Moreover, most researchers have used linear approaches to explore this connection, which can result in spurious outcomes when nonlinearities exist in the data. According to this background, this research utilizes asymmetric ARDL and spectral causality approaches to assess the asymmetric connection between technological innovation and CO2 emissions in Sweden utilizing data from 1980 to 2018. In addition, the disaggregated asymmetric effects of technological innovation (patent resident and patent nonresident) on CO2 are also captured in this study. The Nonlinear Autoregressive Distributed lag (NARDL) results showed that positive (negative) shocks in economic growth enhance environmental quality in Sweden. Furthermore, a positive (negative) shock in technological innovation causes a decrease (increase) in CO2. Similarly, a positive (negative) shock in patent nonresident and residents leads to a decrease (increase) in CO2 emissions in Sweden. The outcomes from the spectral causality revealed that in the medium and long term, aggregate and disaggregate technological innovation can predict CO2 emissions in Sweden. This study has significant policy implications for policymakers and the government in Sweden. Based on these findings, the study suggests that the government of Sweden should investment in technological innovation since it plays a vital role in curbing environmental degradation. [ABSTRACT FROM AUTHOR]

In recent environmental sustainability literature, ecological footprint is largely seen as the most appropriate indicator of environmental destruction. However, due to lack of clarity in its relationship with economic growth, ecosystem services, biodiversity and human well-being, serious academic and political attention on environmental sustainability has not really reflected on ecological footprint. Using CADF unit root test, Westerlund cointegration test, common correlated effects and Dumitrescu Hurlin causality approaches, we conduct empirical analysis of the relationship among urbanization, economic growth and ecological footprint: evidence from Eastern Europe between 1998Q4 and 2017Q4. We address the following protracted questions in the literature: (1) Can we find a relationship between ecological footprint, urbanization and growth? (2) What explains the relationship, if any? The outcomes of the Westerlund cointegration test reveal cointegration among the variables, (ii) the outcome of the Dumitrescu Hurlin causality test indicates that there is a long-run unidirectional causality running from growth to the ecological footprint and (iii) urbanization does not homogeneously cause ecological footprint. The study has implications for regional policy actions that could support the reduction of ecological deficits through growth and urbanization policies towards improving regional environmental quality. [ABSTRACT FROM AUTHOR]

The present study assesses the effect of public-private partnerships in energy and financial development on Brazil's ecological footprint and also takes into account the role of renewable energy and economic growth using data spanning from 1983 to 2017. The study utilized several techniques including autoregressive distributive lag (ARDL) and dynamic ordinary least square (DOLS) to examine the relationship between ecological footprint and the determinants, while the gradual shift causality test was utilized to capture the causal linkage between the series in the presence of a single structural break. The outcomes of the Maki co-integration test revealed evidence of a long-run association among the variables of interest. Furthermore, the results of the ARDL and DOLS tests revealed that economic growth and public and private investment in energy increase environmental degradation, while it is mitigated by both renewable energy and financial development. Moreover, the gradual shift causality test revealed a bidirectional causal linkage between ecological footprint and economic growth. The present study recommends the establishment of a forum that will foster public and private partnerships to enhance communication, which will promote collaboration on new initiatives involving green technological innovations. [ABSTRACT FROM AUTHOR]

South Africa is one of Africa's most polluted countries, with rising CO2 emissions posing a threat. South Africa must discover ways of minimizing pollution and take necessary steps before it is too late in order to achieve sustainable growth. For this purpose, this research assesses the ecological consequences of globalization, nonrenewable energy use, economic growth and renewable energy consumption in South Africa. The study leverages on the non-linearity advantages of the novel quantile on quantile regression (QQR) method for a robust analysis as opposed to the use of conventional linear approaches, thereby overcoming conspicuous shortfalls in extant studies, while offering a detailed explanation of the overall dependency structure between CO2 emissions and globalization, nonrenewable energy use and renewable energy use using a dataset covering the period between 1970 and 2018. The outcomes suggest that nonrenewable energy use, globalization, and economic growth contribute to environmental degradation in the majority of the quantiles, while the effect of renewable energy use on CO2 is not strong at all quantiles. The study highlights that economic expansion, nonrenewable energy use and globalization play key roles in in mitigating environmental sustainability in South Africa, while renewable energy is not sufficient to meet environmental requirements. [ABSTRACT FROM AUTHOR]

Environmental degradation stemming from the combustion of conventional energy sources is not only a major factor behind climate change but it also poses an adverse impact on human health. Undoubtedly, fossil fuels are major drivers of economic growth; however, their detrimental environmental impacts are of global concern. In the literature, there is no comprehensive empirical evidence on the linkage between the use of different energy sources and carbon dioxide emissions in the context of Russia, a nation that is ranked third in the list of the top carbon dioxide-emitting global countries. Hence, this paper aims to scrutinize the relationships between oil consumption, natural gas consumption, coal consumption, and carbon dioxide emissions controlling economic growth for Russia over the 1990–2016 period. The findings from the econometric analysis indicate that carbon dioxide emissions in Russia have long-run associations with economic growth and consumption of oil, gas, and coal. The long-run elasticity estimates reveal that economic growth is not directly harming Russia's environmental quality. However, higher oil, gas, and coal consumption degrades environmental quality by boosting the level of carbon dioxide emissions in Russia. In addition, the results from the Granger causality analysis confirm the existence of both long and short-term causal connections among the variables of concern. In line with these findings, several policy recommendations to address the environmental challenges in Russia are put forward. [ABSTRACT FROM AUTHOR]

In recent years, many empirical studies investigated the effects of globalization on the ecological footprint (EF). Most of these studies relied on the KOF index of globalization and studied the effects of total globalization and disaggregated impacts of economic, social, and political globalization on the EF. However, less attention has been given to financial globalization which can also influence the EF. Hence, this study investigates the association between financial globalization (FG), economic growth (GDP), and EF controlling population density (PD) in the selected West Asian and the Middle East (WAME) nations from 1990 to 2017. The study relied upon second-generation methods for checking stationary properties and Westerlund and other techniques to scrutinize cointegration. The evidence showed cointegration in the model. The long-run approximations from continuously updated fully modified (CUP-FM) and continuously updated bias corrected (CUP-BC) tests divulge that financial globalization is an important factor to promote ecological sustainability in the sample countries because it decreases EF. Population density exacerbates EF and worsens environmental deterioration in sample countries. The study detected the environmental Kuznets curve (EKC) between EF and economic growth in the presence of financial globalization and population density. Besides, financial globalization Granger causes EF, while the feedback effect exists between EF and economic growth. Based on these results, WAME economies can accomplish ecological sustainability and sustainable development by enhancing their financial globalization levels. [ABSTRACT FROM AUTHOR]

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With regard to environmental degradation in Japan, the world's third-largest economy, limited studies have been performed to illustrate the ecological aspects of the country's core and recent economic policies such as globalization, technological innovation, and renewable energy usage policies. Given this motivation, this research reveals a new perspective on the connection between CO2 emissions and GDP growth, renewable energy, technological innovation and globalization in Japan by employing wavelet statistical tools. The paper employs series of wavelet tools for datasets covering the period from 1990Q1 to 2015Q4. The empirical outcomes demonstrate proof of the interaction between renewable energy use, economic growth, technological innovation, globalization and CO2 emissions in both time and frequency. The empirical results of the wavelet analyses reveal that globalization, GDP growth, and technological innovation increase CO2 emissions in Japan, while renewable energy usage mitigates CO2 in the short and medium terms. The results demonstrate the significance of implementing policies effectively coordinated by the policymakers to curb the significant environmental degradation in Japan. Moreover, Japan should actively support renewable energy development and create a more competitive climate for investment in the renewable energy market. [ABSTRACT FROM AUTHOR]

This research investigates the drivers of consumption-based carbon emissions in Brazil by using a dataset covering the period between 1990 and 2018. These dynamics were examined by employing the ARDL bounds, DOLS, and gradual shift causality tests. The ARDL long- and short-run estimation outcomes reveal that: (a) renewable energy use stimulates the sustainability of the environment; (b) economic growth increases environmental degradation; and (c) technological innovation enhances the quality of the environment. In addition, the gradual shift causality test results disclosed that renewable energy consumption, economic growth, technological innovation and public-private partnership investment in energy can predict consumption-based carbon emissions in Brazil. Therefore, Brazilian policymakers should actively encourage the R&D of low-carbon technologies and renewable energy consumption. Domestic consumption levels, on the other hand, should be targeted, specifically those that are more energy-intensive and cause a rise in CO2 emissions due to consumption. [ABSTRACT FROM AUTHOR]

In recent years, a growing number of scholars have employed various proxies of environmental degradation to understand the reasons behind rising environmental degradation. However, very few studies have considered consumption-based carbon emissions, even though a clear understanding of the impact of consumption patterns is essential for redirecting the pattern to more sustainable consumption. Thus, this study takes a step forward by using consumption-based carbon emissions (CCO2) as a proxy of environmental degradation using the novel non-linear ARDL technique for Chilefrom 1990 to 2018. To the best understanding of the investigators, no prior studies have investigated the drivers of consumption-based carbon emissions utilizing non-linear ARDL. The study employed ADF and KSS (non-linear) tests to check the data series' stationary level. Additionally, the symmetric and asymmetric ARDL approaches are utilized to explore cointegration and long-run linkages. According to the results, there is no symmetric cointegration among the variables; however, the empirical estimates reveal a long-run asymmetric connection between the indicators and CCO2 emissions. The novel results from the asymmetric ARDL indicate that negative and positive changes in economic growth deteriorate the quality of the environment. Interestingly, a reduction in economic growth makes a more dominant contribution to environmental degradation. Moreover, positive changes in renewable energy usage improve the quality of Chile's environment, inferring that the country can achieve a reduction in environmental degradation by boosting renewable energy consumption. Surprisingly, the study found that technological innovation is ineffective in reducing consumption-based carbon emissions, which implies that Chile's technological innovation is not directed towards manufacturing green technology. Finally, the policy implications are discussed with respect to reducing consumption-based carbon emissions. [ABSTRACT FROM AUTHOR]

This paper aims to investigate coal consumption and environmental sustainability in South Africa by examining the role of financial development and globalization by using a dataset covering the period from 1980 to 2017. The study utilized the Auto-regressive Distributed Lag Model (ARDL) approach in addition to the Bayer and Hank combined co-integration, fully modified Ordinary least squares (FMOLS), and Dynamic ordinary least Squares (DOLS). The study further utilized the frequency domain causality test to capture the causal linkage between the series. The advantage of the frequency domain causality is that it can capture causal linkages between series at different periods. The Bayer and Hanck co-integration and ARDL bounds tests reveal co-integration among the series. The empirical findings based on the ARDL long-run estimation reveal that a 1% increase in coal consumption increases environmental degradation by 1.077%, while a 1% increase in financial development decreases the environmental degradation by 0.973%. Furthermore, a 1% increase in economic growth decreases environmental quality by 1.449%. The outcomes of the FMOLS and DOLS approaches also provide supportive evidence for the ARDL long-run results. Furthermore, the results of the frequency domain causality test reveal that at a significance level of 1%, coal consumption Granger causes CO2 emissions at different frequencies, while financial development Granger causes CO2 emissions in the long run and short run at a significance level of 10%. In terms of policy suggestions, South Africa should embrace policies that encourage energy consumers to shift toward renewable energy. Furthermore, financial reforms should be implemented to curb environmental degradation. [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]

Publisher's note Springer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. B Correction to: Environmental Science and Pollution Research b https://doi.org/10.1007/s11356-022-21590-3 Deregulation words should be replaced by degradation in the whole text, including the title. [Extracted from the article]

To achieve zero carbon or achieving carbon neutrality target is of great importance to many countries around the globe especially post Paris climate agreement. This study, unlike previous studies, evaluates the role of environmental policy, green innovation, composite risk index, and renewable energy R&D in achieving carbon neutrality targets for G7 economies from 1990 to 2019. The results confirmed the validity of the EKC hypothesis for G7 economies. Further, the result shows that environmental policy, green innovation, composite risk index, and renewable energy R&D help control carbon emissions. In contrast, income reveals a positive influence on environmental degradation. Furthermore, bidirectional causality has been reported in environmental policy, composite risk index, green innovation, and the CO 2 emissions, while unidirectional causality running from GDP and renewable energy R&D to CO 2 emissions. Based on the empirical findings, it is suggested that environmental policies should be strengthened, promote green innovation and renewable energy research and development expenditures, and political stability and institutional quality must be stabilized to lowers sectoral risks that would help a sustainable environment. • Environmental Kuznets Curve is valid for G7 economies. • Green innovation, composite risk index leads to achieving carbon neutrality. • Environmental Policy and Renewable Energy R&D helps combat carbon emissions. • Bidirectional causality exists between policy, risk index, and CO 2 emissions. [ABSTRACT FROM AUTHOR]