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Article

Globalization and GHG Emissions in the EU: Do We Need a New Development Paradigm?

Faculty of Economics and Business, University of Rijeka, Ivana Filipovića 4, 51000 Rijeka, Croatia
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Academic Editors: Marius Dan Gavriletea, Walter Leal Filho and Đula Borozan
Sustainability 2021, 13(17), 9936; https://doi.org/10.3390/su13179936
Received: 20 July 2021 / Revised: 1 September 2021 / Accepted: 1 September 2021 / Published: 4 September 2021
(This article belongs to the Special Issue Challenges in Overcoming Current and Future Sustainability Crises)
The European Union (EU) has adopted a new development strategy based on “green” growth and announced carbon neutrality by 2050. Still, the EU’s previous development path was mainly based on trade openness and globalization, with positive economic and negative climate impacts. The aim of this paper was to test the hypothesis of globalization-induced carbon emissions in order to evaluate a possible future development path. The Arellano–Bond estimator was employed for dynamic panel analysis in 26 EU countries over the period 2000–2018. A significant and positive relationship was found between economic globalization and passenger mobility and greenhouse gas (GHG) emissions, while environmental taxes can correct the negative climate effect. On the other hand, social and political dimensions of globalization reduce negative climate impacts. To achieve net zero emissions, the EU needs to continue its global climate leadership, extend the use of environmental taxes, and stimulate economic growth based on low-carbon technologies such as hydrogen, energy storage, and CCUS. View Full-Text
Keywords: globalization; GHG emissions; EU; green growth; development path globalization; GHG emissions; EU; green growth; development path
MDPI and ACS Style

Vlahinić Lenz, N.; Fajdetić, B. Globalization and GHG Emissions in the EU: Do We Need a New Development Paradigm? Sustainability 2021, 13, 9936. https://doi.org/10.3390/su13179936

AMA Style

Vlahinić Lenz N, Fajdetić B. Globalization and GHG Emissions in the EU: Do We Need a New Development Paradigm? Sustainability. 2021; 13(17):9936. https://doi.org/10.3390/su13179936

Chicago/Turabian Style

Vlahinić Lenz, Nela, and Barbara Fajdetić. 2021. "Globalization and GHG Emissions in the EU: Do We Need a New Development Paradigm?" Sustainability 13, no. 17: 9936. https://doi.org/10.3390/su13179936

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