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Financial regulations and sustainability: The role of energy price and climate policy uncertainty.
- Source :
-
Journal of environmental management [J Environ Manage] 2024 May; Vol. 359, pp. 121037. Date of Electronic Publication: 2024 May 06. - Publication Year :
- 2024
-
Abstract
- Russia ranks among the top five countries worldwide in terms of carbon emissions, with the energy, transportation, and manufacturing sectors as the major contributors. This poses a significant threat to both current and future generations. Russia faces challenges in achieving Sustainable Development Goal 13, necessitating the implementation of more innovative policies to promote environmental sustainability. Considering this alarming situation, this study investigates the role of financial regulations, energy price uncertainty, and climate policy uncertainty in reshaping sectoral CO <subscript>2</subscript> emissions in Russia. This study utilizes a time-varying bootstrap rolling-window causality (BRW) approach using quarterly data from 1990 to 2021. The stability test for parameters indicates instability, suggesting that the full sample causality test may yield incorrect inferences. Thus, the BRW approach is employed for valid inferences. Our findings confirm the time-varying negative impact of financial regulations on CO <subscript>2</subscript> emissions from energy, manufacturing, and transportation sectors. Additionally, findings confirm time-varying positive impact of energy prices and climate policy uncertainty on CO <subscript>2</subscript> emissions from the energy, manufacturing, and transportation sectors. Strong financial regulations and stable energy and climate policies are crucial for achieving sustainability, highlighting significant policy implications for policymakers and stakeholders.<br />Competing Interests: Declaration of competing interest The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper.<br /> (Copyright © 2024 Elsevier Ltd. All rights reserved.)
Details
- Language :
- English
- ISSN :
- 1095-8630
- Volume :
- 359
- Database :
- MEDLINE
- Journal :
- Journal of environmental management
- Publication Type :
- Academic Journal
- Accession number :
- 38714039
- Full Text :
- https://doi.org/10.1016/j.jenvman.2024.121037