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Sustainable Perspectives: Renewable Energy Policy and Economic Development

A special issue of Sustainability (ISSN 2071-1050).

Deadline for manuscript submissions: closed (31 October 2023) | Viewed by 42697

Special Issue Editors

Dr. Zahoor Ahmed

E-Mail Website
Guest Editor
Department of Accounting and Finance, Faculty of Economics and Administrative Sciences, Cyprus International University, Mersin 10, Haspolat 99040, Turkey
Interests: sustainable development; environmental economics; energy economics; natural resources
Special Issues, Collections and Topics in MDPI journals
Dr. Mahmood Ahmad

E-Mail Website
Guest Editor
Business School, Shandong University of Technology, Zibo 255000, China
Interests: financial development; sustainable development; resources economics; environmental economics
Special Issues, Collections and Topics in MDPI journals
Dr. Husam Rjoub

E-Mail Website
Guest Editor
Department of Business Administration, Faculty of Management Sciences, ILMA University, Karachi, Pakistan
Interests: International finance; asset pricing; energy economics; energy management and environmental sciences
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

Economic development reduces poverty and improves human welfare. Therefore, economies around the world strive towards higher economic growth [1], which cannot be achieved and sustained without energy consumption. However, countries’ use of energy is predominantly based on traditional fossil fuel energy, which poses adverse environmental impacts, including the aggravation of climate change and global warming. In addition, changing energy prices can lead to energy insecurity and energy crises [2]. Thus, economists have focused on achieving sustainable development by consuming renewable energy as such energy sources, including solar, hydropower, wind, bioenergy, geothermal, etc., can reduce the consumption of fossil fuels without posing adverse environmental consequences [3].

Sustainable Development Goal 7 (SDG 7) in the 2030 Agenda for Sustainable Development calls for promoting universal access to sustainable and modern clean energy. Notably, the transition to renewable energy promotes effective climate action (SDG 13), which in turn stimulates environmental sustainability. However, developing affordable cleaner energy sources requires a high level of innovation, financial investments, favorable environmental regulation, and supportive institutions [4,5]. Thus, research on various economic, institutional, and financial factors that could influence renewable energy use and sustainable development is vital for the implementation of effective energy and environmental policies. In addition, understanding the causal directions and the long-run nexus between renewable energy sources and economic and environmental indicators can support renewable energy and environmental policies for sustainable growth.    

Therefore, this Special Issue invites original research articles and reviews related to (but not limited to) the following areas:

  • Renewable energy sources, institutional factors, and sustainable development;
  • Renewable energy and residents' energy demand;
  • Energy security, renewable energy, and economic growth;
  • Renewable energy investments and economic development;
  • The role of the financial sector in renewable energy production;
  • Green innovation, renewable energy, and carbon neutrality;
  • Renewable energy and sustainable transportation;
  • Green finance, renewable energy, and sustainable development;
  • Technological infrastructure, renewable energy, and climate control;
  • Mitigating harmful emissions and environmental footprint through renewable energy;
  • Renewable energy and sustainable industrialization;
  • Renewable energy and sustainable agriculture activities;
  • Climate change, renewable energy, and economic development.

We look forward to receiving your contributions.

References

  1. Shahbaz, M.; Mahalik, M.K.; Shah, S.H.; Sato, J.R. Time-Varying Analysis of CO2 Emissions, Energy Consumption, and Economic Growth Nexus: Statistical Experience in next 11 Countries. Energy Policy 2016, 98, 33–48, doi:10.1016/j.enpol.2016.08.011.
  2. Destek, M.A.; Aslan, A. Disaggregated Renewable Energy Consumption and Environmental Pollution Nexus in G-7 Countries. Renew. Energy 2020, 151, 1298–1306, doi:10.1016/j.renene.2019.11.138.
  3. Xue, C.; Shahbaz, M.; Ahmed, Z.; Ahmad, M.; Sinha, A. Clean Energy Consumption, Economic Growth, and Environmental Sustainability: What Is the Role of Economic Policy Uncertainty? Renew. Energy 2022, 184, 899–907, doi:10.1016/j.renene.2021.12.006.
  4. Ahmed, Z.; Ahmad, M.; Rjoub, H.; Kalugina, O.A.; Hussain, N. Economic Growth, Renewable Energy Consumption, and Ecological Footprint: Exploring the Role of Environmental Regulations and Democracy in Sustainable Development. Sustain. Dev. 2021, 1–11, doi:10.1002/sd.2251.
  5. Ahmed, Z.; Cary, M.; Shahbaz, M.; Vo, X.V. Asymmetric Nexus between Economic Policy Uncertainty, Renewable Energy Technology Budgets, and Environmental Sustainability: Evidence from the United States. J. Clean. Prod. 2021, 313, 127723, doi:10.1016/j.jclepro.2021.127723.

Dr. Zahoor Ahmed
Dr. Mahmood Ahmad
Dr. Husam Rjoub
Guest Editors

Manuscript Submission Information

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Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Sustainability is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

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Published Papers (17 papers)

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Research

20 pages, 1909 KiB  
Article
How Do Green Investments, Foreign Direct Investment, and Renewable Energy Impact CO2 Emissions? Measuring the Role of Education in E-7 Nations
by Pengtao Xu, Jianguang Zhang and Usman Mehmood
Sustainability 2023, 15(19), 14052; https://doi.org/10.3390/su151914052 - 22 Sep 2023
Cited by 10 | Viewed by 2579
Abstract
The COP27 conference establishes fresh objectives for global economies to achieve the goals outlined in the Paris Agreement, which are centered on reducing carbon (CO2) emissions and constraining the rise in global temperatures to 1.5 °C. In this background, this study [...] Read more.
The COP27 conference establishes fresh objectives for global economies to achieve the goals outlined in the Paris Agreement, which are centered on reducing carbon (CO2) emissions and constraining the rise in global temperatures to 1.5 °C. In this background, this study looks at how education has affected CO2 emissions, the economy, the use of renewable energy, green investments, and foreign direct investment in the E-7 countries from 2000 to 2021. Two unit root tests, CADF and CIPS, were used to gauge the data’s stationarity. The long-run coefficients were identified using the momentum quantile regression approach. The empirical results show a cointegration of the variables. Long-term CO2 emissions are influenced by a variety of factors, including foreign direct investment, economic growth, green investments, and education. The outcomes of reliable statistics provide support for the overall empirical study of groups and the economy. The results also suggest that there is a significant increase in education, leading to a reduction in CO2 emissions across long time periods. Additionally, the E-7 countries should place a high priority on boosting the use of renewable energy and investing in the expansion of higher education for sustainable development. To mitigate the rise in carbon dioxide emissions (CO2em), it is recommended that the governments of the E-7 nations take measures to promote the adoption of green investments. Governments must prioritize their efforts to ensure that green financing policies are able to complement environmental welfare policies and green growth policies. Full article
(This article belongs to the Special Issue Sustainable Perspectives: Renewable Energy Policy and Economic Development)
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17 pages, 4042 KiB  
Article
The Linkage between Carbon Market and Green Bond Market: Evidence from Quantile Regression Based on Wavelet Analysis
by Ding Wu, Zhenqing Luo, Tidong Zhang, Lu Tang, Mahmood Ahmad and Xiaoyun Fang
Sustainability 2023, 15(13), 10634; https://doi.org/10.3390/su151310634 - 5 Jul 2023
Cited by 2 | Viewed by 1593
Abstract
The carbon market and the green bond market are important institutions for reducing greenhouse gas emissions and achieving economic low-carbon transformation. Accurately understanding the characteristics and correlations of the two markets is of great significance for promoting the achievement of the “dual carbon” [...] Read more.
The carbon market and the green bond market are important institutions for reducing greenhouse gas emissions and achieving economic low-carbon transformation. Accurately understanding the characteristics and correlations of the two markets is of great significance for promoting the achievement of the “dual carbon” goal. From the perspective of different time scales and market conditions, this study selected the maximal overlap discrete wavelet transform (MODWT) to decompose the price time series data of China’s carbon market and green bond market. The quantile Granger causality test was used to calculate the causal relationship between the two markets at different quantiles, and the association between the two markets was estimated based on quantile-to-quantile regression (QQR). The results show that, regardless of the time scale and market conditions, the Chinese carbon market is always the Granger cause of the green bond market. When the green bond market is in a slump state (i.e., in a “bear” market), it will have a certain negative impact on the carbon market in the short term, but in the medium and long term, the impact of the green bond market on the carbon market is positive. In addition, as the time scale increases, the synergistic effect between the green bond market and the carbon market becomes more and more significant. At medium- to long-term time scales, extreme market conditions can easily cause extreme shocks from the green bond market to the carbon market. Full article
(This article belongs to the Special Issue Sustainable Perspectives: Renewable Energy Policy and Economic Development)
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18 pages, 295 KiB  
Article
“Risk” or “Opportunity”? The High Sensitivity of Corporate Green Innovation to Environmental Policy Uncertainty: Evidence from China
by Xiaoming Peng, Yihao Li, Chengxin Guo, Liang Peng and Sijin Tan
Sustainability 2023, 15(11), 8983; https://doi.org/10.3390/su15118983 - 2 Jun 2023
Cited by 2 | Viewed by 1371
Abstract
China is constantly promoting green economic transformation through environmental policy adjustment. However, what impact the uncertainty brought about by environmental policy adjustment will have on corporate green innovation has become an issue worth paying attention to. Based on the option theory, this paper [...] Read more.
China is constantly promoting green economic transformation through environmental policy adjustment. However, what impact the uncertainty brought about by environmental policy adjustment will have on corporate green innovation has become an issue worth paying attention to. Based on the option theory, this paper establishes a logical framework to explain the impact of environmental policy uncertainty on corporate green innovation through risk-taking and uses the China environmental policy uncertainty and the data of A-share listed companies for empirical tests. The findings are as follows: in the Chinese institutional context, environmental policy uncertainty enhances corporate green innovation inputs and outputs, and effectively motivates corporations to improve their green innovation levels. The findings are as follows: in the Chinese institutional context, environmental policy uncertainty is perceived by firms as an opportunity rather than a risk, enhancing corporate green innovation inputs and outputs and effectively motivating corporations to improve their green innovation levels. The mechanism test shows that environmental policy uncertainty increases the level of corporate risk taking, thus stimulating green innovation. The mediating effect of corporate risk taking is supported. The heterogeneity analysis verifies the asymmetric influence of environmental policy uncertainty on corporate green innovation. This study reveals an important link between the external institutional environment and corporate green innovation in emerging economies, and the policy implication is that governments need to facilitate the transition to a green economy through sound environmental policy adjustments. Full article
(This article belongs to the Special Issue Sustainable Perspectives: Renewable Energy Policy and Economic Development)
17 pages, 330 KiB  
Article
Comparative Analysis of the Impact of Policy Uncertainty, Agricultural Output, and Renewable Energy on Environmental Sustainability
by Nan Nan, Gang He, Yasir Ahmed Solangi and Sharafat Ali
Sustainability 2023, 15(11), 8787; https://doi.org/10.3390/su15118787 - 29 May 2023
Cited by 12 | Viewed by 2153
Abstract
The comparative analysis of the effect of economic policy uncertainty on environmental sustainability is imperious as it can provide critical insights into the link between economic policies and environmental sustainability. Economic policy uncertainty may have different impacts in different economies. The present study [...] Read more.
The comparative analysis of the effect of economic policy uncertainty on environmental sustainability is imperious as it can provide critical insights into the link between economic policies and environmental sustainability. Economic policy uncertainty may have different impacts in different economies. The present study provides a comparative analysis of the effect of economic policy uncertainty on environmental sustainability in developed and emerging economies. The study employs pooled ordinary least squares and panel quantile regression to analyze data from 2001 to 2019. Moreover, the study also compares the impact of economic policy uncertainty on environmental sustainability across two different econometric methods. It also compares the results across different quantiles of the distribution of variables. Moreover, the study includes the agriculture output, renewable energy consumption, and foreign direct investment in the model. The results show that economic policy uncertainty negatively and significantly impacts environmental sustainability as it increases GHG emissions. Moreover, agriculture output increases GHG emissions in developed economies at higher quantiles. Furthermore, the results also confirm the pollution haven hypothesis, while renewable energy consumption has a positive effect on environmental sustainability as it significantly reduces GHG emissions. The study stresses that governments should take measures to minimize economic policy uncertainty to improve environmental sustainability. In addition, effective policies to enhance openness in the policymaking process and offer long-term policy certainty and foster more stable investment conditions would encourage renewable energy and reduce GHG emissions. Full article
(This article belongs to the Special Issue Sustainable Perspectives: Renewable Energy Policy and Economic Development)
16 pages, 929 KiB  
Article
Impact of Financial Inclusion, Globalization, Renewable Energy, ICT, and Economic Growth on CO2 Emission in OBOR Countries
by Raymondo Sandra Marcelline Tsimisaraka, Li Xiang, Andriandafiarisoa Ralison Ny Avotra Andrianarivo, Eric Zonia Josoa, Noheed Khan, Muhammad Shehzad Hanif, Aitzaz Khurshid and Ricardo Limongi
Sustainability 2023, 15(8), 6534; https://doi.org/10.3390/su15086534 - 12 Apr 2023
Cited by 44 | Viewed by 3752
Abstract
This study examines the short-term and long-term effects of various important determinants such as financial inclusion (FI), information and communication technology (ICT), renewable energy (RE), globalization (GOB), and economic growth (EG) on CO2 emissions in the top 10 emitter countries in the [...] Read more.
This study examines the short-term and long-term effects of various important determinants such as financial inclusion (FI), information and communication technology (ICT), renewable energy (RE), globalization (GOB), and economic growth (EG) on CO2 emissions in the top 10 emitter countries in the OBOR region based on the collected data for the years 2004 to 2019. This study employed the CS-ARDL technique. Findings demonstrate a strong relationship between FI, ICT, and CO2 emissions in both the long-term and short-term. Renewable sources of energy have been found to have a CO2 emission reduction effect, both in the long and short term. In the long run, there is a negative connection between globalization and CO2 emissions; however, in the short run, this connection is inconsequential, while economic growth (EG) has a positive association with CO2 emission. The development of ICT infrastructure carries the potential to directly mitigate the detrimental effects of CO2 emissions while also playing an important role in raising people’s environmental consciousness. OBOR countries should welcome and encourage clean and green foreign investment that provides technical skills, environmental technology development, and carbon-free processes. Full article
(This article belongs to the Special Issue Sustainable Perspectives: Renewable Energy Policy and Economic Development)
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20 pages, 989 KiB  
Article
Changing Food Patterns during the Pandemic: Exploring the Role of Household Dynamics and Income Stabilization Strategies
by Tao Lian, Shamsheer ul Haq, Pomi Shahbaz, Lei Zhao, Muhammad Nadeem and Babar Aziz
Sustainability 2023, 15(1), 123; https://doi.org/10.3390/su15010123 - 21 Dec 2022
Cited by 9 | Viewed by 2668
Abstract
COVID-19 still looms as the largest risk to the agriculture, energy, and health sectors, threatening sustainable global economic development. The literature shows that the COVID-19 pandemic can divert governments’ attention away from climate change, renewable energy, and food security challenges that are necessary [...] Read more.
COVID-19 still looms as the largest risk to the agriculture, energy, and health sectors, threatening sustainable global economic development. The literature shows that the COVID-19 pandemic can divert governments’ attention away from climate change, renewable energy, and food security challenges that are necessary to address for sustainable economic growth. The COVID-19 pandemic has consistently influenced environmental behaviors, as it has primarily decreased income levels and disrupted food systems worldwide. This study examined the impacts of COVID-19 on food consumption patterns, food diversity, and income challenges and explored the factors affecting food consumption patterns during the pandemic. The data collected through an online survey from 1537 Chinese households were analyzed through a paired t-test, a mixed-design ANOVA, and a logistic regression analysis. The results revealed that the consumption of the majority of individual food commodities decreased during the COVID-19 pandemic. Among the individual food items, the consumption of pork witnessed the greatest decrease during the COVID-19 pandemic compared to the normal period. The decrease in food diversity was higher for the households whose income was affected compared to the households whose income was not affected during the COVID-19 pandemic. Furthermore, the consumption quantities of various food groups declined more for highly income-affected households than for medium and slightly affected households during the pandemic. Households that adopted a dissaving income-stabilizing strategy were 47% points more likely to maintain their food consumption patterns during the pandemic. Farmers were 17% points and 19% points less likely to suffer worsened food consumption compared to self-employed and wage workers, respectively, during the pandemic. Thus, self-production methods such as kitchen gardening can assist households to maintain and improve their consumption of food commodities during the COVID-19 pandemic. Full article
(This article belongs to the Special Issue Sustainable Perspectives: Renewable Energy Policy and Economic Development)
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15 pages, 779 KiB  
Article
Estimating the Effects of Economic Complexity and Technological Innovations on CO2 Emissions: Policy Instruments for N-11 Countries
by Jiangling Yu, Feng Ju, Muhammad Wahab, Ephraim Bonah Agyekum, Clement Matasane and Solomon Eghosa Uhunamure
Sustainability 2022, 14(24), 16856; https://doi.org/10.3390/su142416856 - 15 Dec 2022
Cited by 6 | Viewed by 2015
Abstract
Every year, the problem of environmental degradation becomes more severe globally. It is widely believed that technological innovation and economic complexity are understood as structural transformations toward a more sophisticated and knowledge-based means of production as a viable way to fight against climate [...] Read more.
Every year, the problem of environmental degradation becomes more severe globally. It is widely believed that technological innovation and economic complexity are understood as structural transformations toward a more sophisticated and knowledge-based means of production as a viable way to fight against climate change. However, the studies integrating these two elements into the same environmental policy framework are still scant. With this in view, this study investigates the dynamic linkage between economic complexity, technological innovations, economic growth, and nonrenewable energy on CO2 emissions in the N-11 nations. This study uses data from 1980 to 2020. It applies the recent method of cross-sectional autoregressive distributed lags (CS-ARDL). The cointegration method shows a strong association among the variables. The findings of the CS-ARDL show that technological innovations are negatively related to environmental degradation, while nonrenewable energy deteriorates the environment by escalating CO2 emissions. This study fails to validate the EKC in the N-11 nations. In addition, economic complexity is helping these economies to achieve environmental sustainability by lowering environmental pollution. Based on the findings, this work recommends that the N-11 countries restructure their industrial sectors with low-carbon energy sources. For this purpose, these countries should increase their research and development budgets. This will help in launching environmentally friendly energy sources in their economic development model. Full article
(This article belongs to the Special Issue Sustainable Perspectives: Renewable Energy Policy and Economic Development)
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19 pages, 435 KiB  
Article
Cultivating Talents for Reporting Environmental News on China’s Carbon Neutrality Policy
by Feng Ji, Guangyuan Zhao, Lun Meng, Rana Tehseen and Fushuai Wang
Sustainability 2022, 14(24), 16795; https://doi.org/10.3390/su142416795 - 14 Dec 2022
Viewed by 1444
Abstract
Reports on environmental news can guide public opinion and regulate stakeholders to take the initiative to save energy and reduce carbon emissions. With China’s declared target of “carbon peaking and carbon neutral”, specialized environmental journalism talents are needed, and a good environmental journalism [...] Read more.
Reports on environmental news can guide public opinion and regulate stakeholders to take the initiative to save energy and reduce carbon emissions. With China’s declared target of “carbon peaking and carbon neutral”, specialized environmental journalism talents are needed, and a good environmental journalism curriculum reform evaluation system is essential. The Snowball sampling technique is adopted to survey respondents using a well-structured questionnaire. The questionnaire included four dimensions: course content, assessment methods, development planning, and teaching research. The experts’ comments were quantified first, and then a three-level evaluation system was constructed using the Analytic Hierarchical Process. It was found that the content of the environmental journalism course on carbon peaking and carbon neutrality and the assessment methods for students were most valued by the experts and account for relatively large portions of the overall system. According to the scores of experts on the current situation of environmental journalism education with a double carbon theme in China, the course content and assessment methods need to be further improved compared with the career development planning of students and the teaching research of educators. Full article
(This article belongs to the Special Issue Sustainable Perspectives: Renewable Energy Policy and Economic Development)
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16 pages, 732 KiB  
Article
Analyzing the Effects of Renewable and Nonrenewable Energy Usage and Technological Innovation on Environmental Sustainability: Evidence from QUAD Economies
by Muhammad Imran, Sajid Ali, Yousef Shahwan, Jijian Zhang and Issa Ahmad Al-Swiety
Sustainability 2022, 14(23), 15552; https://doi.org/10.3390/su142315552 - 22 Nov 2022
Cited by 31 | Viewed by 2600
Abstract
The following study examined how energy use and technological advancement impacted environmental sustainability in QUAD (US, Japan, Australia, and India) economies between 1991 and 2021. The study considers the generation of renewable energy, fossil fuel use, and the effects of economic expansion on [...] Read more.
The following study examined how energy use and technological advancement impacted environmental sustainability in QUAD (US, Japan, Australia, and India) economies between 1991 and 2021. The study considers the generation of renewable energy, fossil fuel use, and the effects of economic expansion on environmental sustainability. The research used the moment quantile regression technique based on the outcomes of slope heterogeneity, cross-sectional dependence, and the order of the unit-root by the using second-generation method of cross-sectional augmented Im, Pesaran, and Shin tests. The study discovered that renewable energy production and technological innovation enhances environmental sustainability, whereas the use of nonrenewable energy and economic growth worsen it. When implementing policies regarding the environment, energy, and the growth of QUAD economies based on concrete evidence, policy makers and environmentalists in QUAD countries should also take into account the asymmetrical performance of efficiency in energy production, technological innovation, and economic growth. Full article
(This article belongs to the Special Issue Sustainable Perspectives: Renewable Energy Policy and Economic Development)
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18 pages, 1118 KiB  
Article
A Development of Green Finance and Regional Eco-Efficiency in China
by Kaili Wang, Ehsan Elahi, Yuge Zhang, Di Wang and Zainab Khalid
Sustainability 2022, 14(22), 15206; https://doi.org/10.3390/su142215206 - 16 Nov 2022
Cited by 1 | Viewed by 1698
Abstract
Based on panel data collected from 30 Chinese provinces between 2009 and 2020, we used the Super-SBM model to calculate regional eco-efficiency (EE) and analyze its spatial–temporal evolution characteristics. Furthermore, we constructed SDM to analyze the direct impact and spillover effect and tested [...] Read more.
Based on panel data collected from 30 Chinese provinces between 2009 and 2020, we used the Super-SBM model to calculate regional eco-efficiency (EE) and analyze its spatial–temporal evolution characteristics. Furthermore, we constructed SDM to analyze the direct impact and spillover effect and tested its mechanism with a mediating effects model. According to the SDM results, it is confirmed that both the direct impact of green financial development on regional eco-efficiency improvement and the spatial spillover effects on neighboring provinces have a “U” shaped relationship, and there is significant heterogeneity among the three major regions of China (East, Central, and West). The intermediary effect model found an asset scale and technological progress effect. Based on the findings of the study, policy implications are proposed to expand the scale of green finance, promote its coordinated regional development, promote technological progress and expand the scale of capital. Full article
(This article belongs to the Special Issue Sustainable Perspectives: Renewable Energy Policy and Economic Development)
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17 pages, 1042 KiB  
Article
The Dynamic Impact of Renewable Energy and Economic Growth on CO2 Emissions in China: Do Remittances and Technological Innovations Matter?
by Chafic Bassam Saliba, Fida Ragheb Hassanein, Seyed Alireza Athari, Hazar Dördüncü, Ephraim Bonah Agyekum and Parise Adadi
Sustainability 2022, 14(21), 14629; https://doi.org/10.3390/su142114629 - 7 Nov 2022
Cited by 23 | Viewed by 2991
Abstract
Several investigations show that remittances, renewable energy, and innovation promote the socioeconomic advancement of a nation. Nevertheless, the impacts of remittances and renewable energy on ecological quality are yet to be evaluated thoroughly. Therefore, the current investigation assesses the effects of remittances and [...] Read more.
Several investigations show that remittances, renewable energy, and innovation promote the socioeconomic advancement of a nation. Nevertheless, the impacts of remittances and renewable energy on ecological quality are yet to be evaluated thoroughly. Therefore, the current investigation assesses the effects of remittances and renewable energy on CO2 emissions while taking into account the roles of technological innovation, globalization, and economic growth. Toward this end, this paper depends on yearly data between 1990 and 2019. The study employed bounds testing and its results disclosed long-term connections between CO2 and the regressors. Moreover, unlike prior studies that employ time-domain causality, we employed frequency domain causality, which considers causality at different frequencies. Furthermore, the ARDL long- and short-run results showed that economic growth amplified CO2 emissions, while green energy, remittances, and globalization lessened CO2 emissions. Lastly, the frequency domain causality approach revealed that globalization, renewable energy, economic growth, technological innovation, and remittances could predict CO2 emissions in the long-term. These findings’ sturdiness was established utilizing DOLS and FMOLS regression. Several policy recommendations are suggested in light of these ground-breaking discoveries. Full article
(This article belongs to the Special Issue Sustainable Perspectives: Renewable Energy Policy and Economic Development)
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13 pages, 814 KiB  
Article
Mandatory Environmental Regulation and Green Technology Innovation: Evidence from China
by Xingshuai Wang, Ehsan Elahi and Lianggui Zhang
Sustainability 2022, 14(20), 13431; https://doi.org/10.3390/su142013431 - 18 Oct 2022
Cited by 5 | Viewed by 2437
Abstract
Faced with the severe situation of high energy consumption and major pollutant emissions, the Chinese government has adopted various mandatory environmental regulations (MERs) to improve the binding force of environmental protection policy implementation. In 2006, the environmental protection target responsibility system was implemented, [...] Read more.
Faced with the severe situation of high energy consumption and major pollutant emissions, the Chinese government has adopted various mandatory environmental regulations (MERs) to improve the binding force of environmental protection policy implementation. In 2006, the environmental protection target responsibility system was implemented, and the energy conservation and emission reduction targets were linked to the performance assessment of government officials as a binding indicator. What is the impact of this policy on green technology innovation activities? Based on this, this paper identifies the relevant indicators of green technology innovation activities. It uses the difference-in-differences (DID) method to investigate the impact of mandatory environmental regulation on the quantity and quality of green technology innovation activities. The conclusions are as follows: (1) The implementation of MERs promoted the expansion of the number of green patent applications. (2) MERs also led to the decline of the quality and the emergence of the foaming phenomenon. (3) Enterprises with weak innovation ability are the main group causing the decline of green technology innovation quality, and they are concentrated in independent innovation and low-level pollution industries. The conclusion of this paper helps provide a theoretical basis and countermeasures for deepening the reform of the MER policy, strengthening the coordination of different environmental regulation tools, and establishing a market-oriented green technology innovation system and environmental protection science and technology policy. Full article
(This article belongs to the Special Issue Sustainable Perspectives: Renewable Energy Policy and Economic Development)
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13 pages, 645 KiB  
Article
Exploring the Role of Communication Technologies, Governance, and Renewable Energy for Ecological Footprints in G11 Countries: Implications for Sustainable Development
by Usman Mehmood, Ephraim Bonah Agyekum, Hossam Kotb, Ahmad H. Milyani, Abdullah Ahmed Azhari, Salman Tariq, Zia ul Haq, Arif Ullah, Kashif Raza and Vladimir Ivanovich Velkin
Sustainability 2022, 14(19), 12555; https://doi.org/10.3390/su141912555 - 2 Oct 2022
Cited by 6 | Viewed by 1987
Abstract
Today, the world is confronted with the issue of environmental pollution as a result of our dependence on fossil fuels for our energy needs. Developed and developing countries are therefore adopting different strategies to curb environmental problems. This work is thus designed to [...] Read more.
Today, the world is confronted with the issue of environmental pollution as a result of our dependence on fossil fuels for our energy needs. Developed and developing countries are therefore adopting different strategies to curb environmental problems. This work is thus designed to probe the effect of renewable energy (RE), information and communication technologies (ICT), government stability, and GDP on ecological footprints (EF) in G11 nations. We utilized the annual data from 1990–2020 and applied robust methodologies to present the findings. The CS-ARDL method shows that renewable energy, ICT, and government stability are essential factors in lowering environmental pollution in G11 countries. Therefore, in light of the findings, this work suggests an increase in the use of RE sources such as solar, wind, and hydropower in the total energy mix of the various countries. RE usage improves air quality and saves the natural environment from further destruction. The countries also need to enhance their communication technologies in the economic sector. Moreover, policymakers must also introduce the required policies that would promote the use of RE in various countries. This will make people adopt clean energy sources at the domestic and commercial levels. Full article
(This article belongs to the Special Issue Sustainable Perspectives: Renewable Energy Policy and Economic Development)
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13 pages, 751 KiB  
Article
Exploring the Impacts of Renewable Energy, Environmental Regulations, and Democracy on Ecological Footprints in the Next Eleven Nations
by Jintian Wang, Shouchang You, Ephraim Bonah Agyekum, Clement Matasane and Solomon Eghosa Uhunamure
Sustainability 2022, 14(19), 11909; https://doi.org/10.3390/su141911909 - 21 Sep 2022
Cited by 12 | Viewed by 2558
Abstract
Economies are making environmental regulations to achieve sustainable development and mitigate environmental pollution. However, these regulations cannot provide effective results unless implemented properly. The role of the government is fundamental in this regard. In this context, this research probes the impacts of democracy, [...] Read more.
Economies are making environmental regulations to achieve sustainable development and mitigate environmental pollution. However, these regulations cannot provide effective results unless implemented properly. The role of the government is fundamental in this regard. In this context, this research probes the impacts of democracy, environmental regulations, renewable energy, globalization, and economic growth on ecological footprints in N-11 countries from 1990 to 2018. For statistical analysis, this work applies the cross-sectional autoregressive distributed lags (CS-ARDL) methods. This method efficiently provides robust findings for panel time series data because they counter the cross-sectional dependence and slope heterogeneity while providing the results. Moreover, augmented mean group (AMG) and fully modified ordinary least squares (FMOLS) are used to check the robustness of the findings. The results show that environmental regulation significantly mitigates ecological footprint, while economic growth escalates footprints in N-11 countries. In addition, democratic quality, renewable energy consumption, and globalization are contributing factors to environmental quality. Hence, this research presents important policy implications for the N-11 countries in that they need to enhance democratic accountability. This will assist them to launch an effective environmental policy. Effective environmental policy will assist in increasing renewable energy, which will ultimately enhance the environmental quality. Full article
(This article belongs to the Special Issue Sustainable Perspectives: Renewable Energy Policy and Economic Development)
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23 pages, 497 KiB  
Article
The Impact of Low-Carbon Pilot City Policy on Corporate Green Technology Innovation in a Sustainable Development Context—Evidence from Chinese Listed Companies
by Jun Wang, Zhuofei Liu, Long Shi and Jinghua Tan
Sustainability 2022, 14(17), 10953; https://doi.org/10.3390/su141710953 - 2 Sep 2022
Cited by 13 | Viewed by 2721
Abstract
The low-carbon pilot city policy is an important initiative to explore the path of a win-win situation for both the economy and the environment. Since 2010, China has established 87 low-carbon pilot cities. This policy implementation aims to encourage green technology innovation among [...] Read more.
The low-carbon pilot city policy is an important initiative to explore the path of a win-win situation for both the economy and the environment. Since 2010, China has established 87 low-carbon pilot cities. This policy implementation aims to encourage green technology innovation among listed companies, thereby achieving sustainable corporate growth through the promotion of energy efficiency and renewable energy. This paper aims to unveil the relationship between low-carbon pilot city policies and green technology innovation. This paper explores the impact of policy implementation based on patent data of Chinese listed companies from 2007 to 2019. Empirical results show that the policy can promote green technology innovation among listed companies in the pilot cities. This finding still holds in the parallel trend test and the PSM-Multi-period DID test. Second, the policy has a greater effect on the green-technology innovation of non-state enterprises and can promote more green technology innovation activities of enterprises in the eastern region compared with other areas. Furthermore, in terms of different stock sectors, the low-carbon pilot city policy can significantly promote GEM-affiliated enterprises’ green technology innovation activities. Finally, listed companies with a high degree of digital transformation are more active in green technology innovation in the context of low-carbon pilot city policy. Full article
(This article belongs to the Special Issue Sustainable Perspectives: Renewable Energy Policy and Economic Development)
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12 pages, 270 KiB  
Article
Financial Efficiency and Its Impact on Renewable Energy Demand and CO2 Emissions: Do Eco-Innovations Matter for Highly Polluted Asian Economies?
by Muhammad Hafeez, Saif Ur Rehman, C. M. Nadeem Faisal, Juan Yang, Sana Ullah, Md. Abdul Kaium and Muhammad Yousaf Malik
Sustainability 2022, 14(17), 10950; https://doi.org/10.3390/su141710950 - 2 Sep 2022
Cited by 45 | Viewed by 2523
Abstract
The analysis aims to examine the impact of eco-innovation and financial efficiency on CO2 emissions and renewable energy consumption in highly polluted Asian economies, including China, India, Russia, and Japan. For empirical analysis, we have applied the ARDL pooled mean group (ARDL-PMG) [...] Read more.
The analysis aims to examine the impact of eco-innovation and financial efficiency on CO2 emissions and renewable energy consumption in highly polluted Asian economies, including China, India, Russia, and Japan. For empirical analysis, we have applied the ARDL pooled mean group (ARDL-PMG) model. The long-run estimated coefficient of environmental innovations is positively significant in both renewable energy models and negatively significant in the CO2 emissions model. These results imply that environmental innovations help facilitate renewable energy consumption and reduce CO2 emissions. On the other side, the estimates of financial development are insignificant in both renewable energy and CO2 emissions models. However, the estimates of financial institution efficiency and financial markets are positively significant in both renewable energy and CO2 emissions models, implying that financial institutions and market efficiency increase renewable energy consumption and decrease CO2 emissions. Full article
(This article belongs to the Special Issue Sustainable Perspectives: Renewable Energy Policy and Economic Development)
14 pages, 859 KiB  
Article
Urbanization, Economic Development, and Environmental Degradation: Investigating the Role of Renewable Energy Use
by Abdul Rehman, Magdalena Radulescu, Laura Mariana Cismas, Rafael Alvarado, Carmen Gabriela Secara and Claudia Tolea
Sustainability 2022, 14(15), 9337; https://doi.org/10.3390/su14159337 - 29 Jul 2022
Cited by 13 | Viewed by 2621
Abstract
The current study explored the impact of renewable energy use, urbanization, economic growth and trade in services on CO2 emission in Maldives by using annual data series ranging from 1990 to 2020. We have checked the variables influences by utilizing the nonlinear [...] Read more.
The current study explored the impact of renewable energy use, urbanization, economic growth and trade in services on CO2 emission in Maldives by using annual data series ranging from 1990 to 2020. We have checked the variables influences by utilizing the nonlinear autoregressive distributed lag (NARDL) method with long-run and short-run connections. Findings via long-run and short-run showed that the variables renewable energy use and economic growth has positive and negative coefficients via positive and negative shocks that uncover the constructive and adverse linkage to CO2 emission in Maldives. Similarly, trade in services showed an adversative and positive connection to CO2 emission via positive and negative shocks. During the analysis, the variable urbanization uncovered a negative linkage to CO2 emission. It is imperative that Maldives implement new policies and strategies aimed at reducing CO2 emission in order to avert the environmental devastation. Full article
(This article belongs to the Special Issue Sustainable Perspectives: Renewable Energy Policy and Economic Development)
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