International Environmental Agreements and CO2 Emissions: Fresh Evidence from 11 Polluting Countries

Oikonomou, Aikaterina; Polemis, Michael; Soursou, Symeoni-Eleni

doi:10.3390/jrfm14070331

Open AccessArticle

International Environmental Agreements and CO₂ Emissions: Fresh Evidence from 11 Polluting Countries

by

Aikaterina Oikonomou

^1,2,

Michael Polemis

^2,3,4,* and

Symeoni-Eleni Soursou

³

¹

Department of International and European Studies, University of Piraeus, 185 34 Piraeus, Greece

²

School of Social Sciences, Hellenic Open University, 263 35 Patra, Greece

³

Department of Economics, University of Piraeus, 185 34 Piraeus, Greece

⁴

Hellenic Competition Commission, 104 34 Athens, Greece

^*

Author to whom correspondence should be addressed.

J. Risk Financ. Manag. 2021, 14(7), 331; https://doi.org/10.3390/jrfm14070331

Submission received: 16 June 2021 / Revised: 8 July 2021 / Accepted: 13 July 2021 / Published: 16 July 2021

(This article belongs to the Special Issue Energy Economics and Finance)

Download Versions Notes

Abstract

This study attempts to evaluate the energy and carbon footprint within the framework of international environmental treaties and the efforts made by 11 large polluting countries to mitigate climate change. The econometric methodology accounts for the presence of cross-sectional dependence while it employs second-generation panel unit root tests and cointegrated relationships. To secure the robustness of our findings, we conduct an ARDL approach employing dynamic panel data techniques. Dynamic OLS is also applied to verify the validity of the empirical results. The empirical analysis supports that the reduction in CO₂ emissions can be achieved without a slowdown in economic activity for the sample countries. The findings suggest insightful policy implications for policymakers and government officials.

Keywords: energy use; climate change; carbon dioxide emissions; dynamic GMM models; international agreements

Share and Cite

MDPI and ACS Style

Oikonomou, A.; Polemis, M.; Soursou, S.-E. International Environmental Agreements and CO₂ Emissions: Fresh Evidence from 11 Polluting Countries. J. Risk Financ. Manag. 2021, 14, 331. https://doi.org/10.3390/jrfm14070331

AMA Style

Oikonomou A, Polemis M, Soursou S-E. International Environmental Agreements and CO₂ Emissions: Fresh Evidence from 11 Polluting Countries. Journal of Risk and Financial Management. 2021; 14(7):331. https://doi.org/10.3390/jrfm14070331

Chicago/Turabian Style

Oikonomou, Aikaterina, Michael Polemis, and Symeoni-Eleni Soursou. 2021. "International Environmental Agreements and CO₂ Emissions: Fresh Evidence from 11 Polluting Countries" Journal of Risk and Financial Management 14, no. 7: 331. https://doi.org/10.3390/jrfm14070331

APA Style

Oikonomou, A., Polemis, M., & Soursou, S.-E. (2021). International Environmental Agreements and CO₂ Emissions: Fresh Evidence from 11 Polluting Countries. Journal of Risk and Financial Management, 14(7), 331. https://doi.org/10.3390/jrfm14070331

Article Menu

International Environmental Agreements and CO₂ Emissions: Fresh Evidence from 11 Polluting Countries

Abstract

Share and Cite

Article Metrics

Article Access Statistics

Further Information

Guidelines

MDPI Initiatives

Follow MDPI