Special Issue "Impact of Sustainable Financial and Economic Development on Greenhouse Gas Emission"

A special issue of Energies (ISSN 1996-1073). This special issue belongs to the section "Energy Economics and Policy".

Deadline for manuscript submissions: 22 July 2021.

Special Issue Editors

Prof. Dr. Magdalena Ziolo
E-Mail Website
Guest Editor
Department of Sustainable Finance and Capital Markets, University of Szczecin, Szczecin, Poland
Interests: finance and banking; public finance; sustainable finance; sustainable financial systems; sustainable business models; negative externalities; environmental finance; ESG risk
Special Issues and Collections in MDPI journals
Prof. Dr. Diana-Mihaela Țîrcă
E-Mail Website
Guest Editor
Center of Fundamental and Applied Economic Studies (CSEFA), Faculty of Economics, “Constantin Brâncuși” University of Târgu-Jiu, Tineretului Street, No. 4, 210135, Targu-Jiu, Gorj, Romania
Interests: macroeconomics; sustainable development; regional development
Special Issues and Collections in MDPI journals
Prof. Dr. Isabel Novo-Corti
E-Mail Website
Guest Editor
Economic Development and Social Sustainability Research Group (EDaSS), University School – University of A Coruña – Spain, Campus de Elviña, s/n, 15071 A Coruña, Spain
Interests: economic analysis; business administration and development; creative entrepreneurial initiatives; strategic planning
Special Issues and Collections in MDPI journals

Special Issue Information

Dear Colleagues,

The Guest Editors are inviting submissions to a Special Issue on Sustainable Financial and Economic Development on Greenhouse Gas Emission. The existing body of literature does not include the role of sustainable finance, especially sustainable financial systems, in influencing financial and economic development and as a result on environmental quality. This Special Issue will deal with: the impact of sustainable financial systems (public, commercial) on mitigating greenhouse gas emissions; the role of sustainable finance and financial markets in reducing greenhouse gas emissions; the relationship among sustainable finance and sustainable economic development and greenhouse gas emissions, business models of financial institutions, and companies and their impact on sustainable financial and economic development; the role of the financial market in supporting green consumerism and reducing greenhouse gas emissions; sustainable economic, financial development and ESG risk; sustainable financial and economic development on greenhouse gas emission and social and environmental consequences; the drivers of sustainable financial and economic development; and key challenges and prospects of sustainable financial, economic development and greenhouse gas emissions.

Topics of interest for publication include but are not limited to:

  • The relationship between sustainable economic, financial development and greenhouse gas emissions;
  • Interdependencies between sustainable finance and greenhouse gas emissions;
  • A sustainable approach to the financial market and energy market toward reduction of greenhouse gas emissions;
  • The role of sustainable financial systems in supporting the development of pro-environmental technologies and their impact on greenhouse gas emissions;
  • Activities that build an offer of sustainable financial products and services that will encourage entrepreneurs and households to green consumerism practices,
  • Sustainable financing of start-ups and greenhouse gas emissions;
  • The role of sustainable finance in the decarbonization process and climate change;
  • The role of sustainable finance in financing sustainable adaptation;
  • The drivers of sustainable economic and financial development and the consequences for greenhouse gas emissions;
  • Digitalization and transition of financial markets, the economy, and greenhouse gas emissions;
  • Green growth, circular economy, finance, and greenhouse gas emissions;
  • Energy finance and greenhouse gas emissions;
  • Environmental taxes, sustainable economic and financial development, and greenhouse gas emissions;
  • Economic transition, renewable energy sources, environmentally friendly products and services, and their financing in the context of greenhouse gas emissions;
  • SDGs, sustainable finance, and greenhouse gas emissions;
  • Sustainable financial and economic development on greenhouse gas emission and labor market and public policies;
  • IT solutions, sustainable financial and economic development and greenhouse gas emissions.
Prof. Dr. Magdalena Ziolo
Prof. Dr. Diana-Mihaela Țîrcă
Prof. Dr. Isabel Novo-Corti
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All papers will be peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

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. Energies 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 2000 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.

Keywords

  • Sustainable financial development
  • Sustainable finance
  • Sustainable business models
  • Sustainable financial system
  • Sustainable economic development
  • Green growth
  • Energy market
  • Financial market
  • Economic development
  • Environmental degradation
  • ESG risk
  • Energy finance
  • Financial and economic transition
  • Negative externalities
  • Air pollution
  • Greenhouse gas emissions
  • Sustainable financial products and services
  • Green consumerism
  • Decarbonization
  • Circular economy
  • E-commerce
  • Environmental taxes
  • Sustainable public finance
  • Sustainable adaptation
  • Climate change
  • Eco-innovation
  • Start-ups
  • Public policies
  • Labor market

Published Papers (8 papers)

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Research

Article
Simulation-Based Analysis of Greenhouse Gas Emissions in Sustainable Supply Chains—Re-Design in an Approach to Supply Chain Strategy
Energies 2021, 14(12), 3504; https://doi.org/10.3390/en14123504 - 12 Jun 2021
Viewed by 206
Abstract
The aim of the study was to analyze emissions in the supply chain and to identify, based on a literature analysis, which supply chain strategies could contribute to reducing these emissions. A broad spectrum of new supply chain strategy solutions was identified and, [...] Read more.
The aim of the study was to analyze emissions in the supply chain and to identify, based on a literature analysis, which supply chain strategies could contribute to reducing these emissions. A broad spectrum of new supply chain strategy solutions was identified and, based on simulations of selected products, conclusions were drawn and the advantages and disadvantages of theoretical solutions were presented for individual cases. A critical analysis of the literature and simulation methods were used to illustrate the problem presented in this paper, to identify the factors causing greenhouse gas emissions and to draw conclusions in the form of proposals to redesign existing strategies, considering the factors determining the increase in pollution caused by the performed logistics processes. The results of the simulations and the literature analysis indicate that solutions related to the redesign of strategies must consider the specificity of the product and the nature of the chain. Not all proposed strategies are applicable to all chains, and each new strategy must be carefully considered and consider many factors. An important element to reduce the negative environmental impact of chains is a well-thought-out relationship with suppliers, a well-chosen and adapted logistics infrastructure, including means of transport. The presented solutions clearly indicate that the environmental aspect plays an increasingly important role in chain management and influences the applied chain strategies. However, reducing the environmental impact of a chain is not a revolutionary approach and an easy-to-implement strategy change, but a well-thought-out, long-term process that considers the specifics of the products, the possibilities of alternative sourcing and distribution modes, and the need to invest in logistics infrastructure to make it as environmentally neutral as possible. Full article
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Article
National Carbon Accounting—Analyzing the Impact of Urbanization and Energy-Related Factors upon CO2 Emissions in Central–Eastern European Countries by Using Machine Learning Algorithms and Panel Data Analysis
Energies 2021, 14(10), 2775; https://doi.org/10.3390/en14102775 - 12 May 2021
Viewed by 509
Abstract
The work at hand assesses several driving factors of carbon emissions in terms of urbanization and energy-related parameters on a panel of emerging European economies, between 1990 and 2015. The use of machine learning algorithms and panel data analysis offered the possibility to [...] Read more.
The work at hand assesses several driving factors of carbon emissions in terms of urbanization and energy-related parameters on a panel of emerging European economies, between 1990 and 2015. The use of machine learning algorithms and panel data analysis offered the possibility to determine the importance of the input variables by applying three algorithms (Random forest, XGBoost, and AdaBoost) and then by modeling the urbanization and the impact of energy intensity on the carbon emissions. The empirical results confirm the relationship between urbanization and energy intensity on CO2 emissions. The findings emphasize that separate components of energy consumption affect carbon emissions and, therefore, a transition toward renewable sources for energy needs is desirable. The models from the current study confirm previous studies’ observations made for other countries and regions. Urbanization, as a process, has an influence on the carbon emissions more than the actual urban regions do, confirming that all the activities carried out as urbanization efforts are more harmful than the resulted urban area. It is proper to say that the urban areas tend to embrace modern, more green technologies but the road to achieve environmentally friendly urban areas is accompanied by less environmentally friendly industries (such as the cement industry) and a high consumption of nonrenewable energy. Full article
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Article
Energy Efficiency Management across EU Countries: A DEA Approach
Energies 2021, 14(9), 2619; https://doi.org/10.3390/en14092619 - 03 May 2021
Viewed by 372
Abstract
We examine energy efficiency in the European Union (EU) using an integrated model that connects labor and capital as production factors with energy consumption to produce GDP with a limited amount of environmental emissions. The model is a linear output-oriented BCC data envelopment [...] Read more.
We examine energy efficiency in the European Union (EU) using an integrated model that connects labor and capital as production factors with energy consumption to produce GDP with a limited amount of environmental emissions. The model is a linear output-oriented BCC data envelopment analysis (DEA) that employs variables with non-negative values to calculate efficiency scores for a sample of 28 EU member states in the period 2010–2018. We assume variable returns to scale (VRS) considering the natural inclination of countries to adopt technologies that allow them to produce higher outputs over extended periods of time, which we observed through the trends of increasing labor productivity and decreasing energy intensity over the analyzed period. The average EU inefficiency margin in the sample period is 16.0%, with old member states being significantly more efficient (4.2%) than new member states (29.5%). Energy efficiency management does not improve over time, especially in new member states that had substantially worse efficiency by 2018 than in 2010. New member states could increase energy efficiency through the liberalization of the energy market, the support of energy-saving and technologically advanced industries, and the introduction of measures aimed at increasing the productivity levels in the economy. Full article
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Article
Achieving Environmental Policy Objectives through the Implementation of Sustainable Development Goals. The Case for European Union Countries
Energies 2021, 14(8), 2129; https://doi.org/10.3390/en14082129 - 11 Apr 2021
Viewed by 474
Abstract
One of the key challenges for climate policies is the identification of strategies that will effectively support the implementation of environmental goals. Environmental policies are connected with other development policies carried out by governments. In order to comprehensively shape environmental policy, it is [...] Read more.
One of the key challenges for climate policies is the identification of strategies that will effectively support the implementation of environmental goals. Environmental policies are connected with other development policies carried out by governments. In order to comprehensively shape environmental policy, it is important to understand the interactions between sustainable development goals (SDGs) as well as their impact on environmental goals. Employing econometric modeling based on the least absolute shrinkage and selection operator (Lasso) method and full-factorial analysis, the authors identify a number of statistically significant relationships between the implementation of sustainable development goals and the environmental variable represented by greenhouse gas emissions. Analysis reveals that implementation of particular sustainable development goals, namely SDG4 (Ensure inclusive and equitable quality education and promote lifelong learning opportunities) and SDG17 (Strengthen the means of implementation and revitalize the global partnership for sustainable development), explicitly facilitate the achievement of environmental policies. In addition, other SDGs exert an indirect influence on environmental goals through their reinforcing interactions with SDG4 and SDG17 variables. These are: SDG1 (End poverty), SDG3 (Ensure healthy lives and promote well-being), SDG8 (Promote sustained, inclusive and sustainable economic growth, and productive employment) and SDG15 (Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests and halt biodiversity loss). These findings have important implications for proper identification of effective government policy instruments which indirectly support the achievement of environmental goals. Full article
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Article
Does Carbon Risk Matter? Evidence of Carbon Premium in EU Energy-Intensive Companies
Energies 2021, 14(7), 1855; https://doi.org/10.3390/en14071855 - 26 Mar 2021
Viewed by 317
Abstract
In this paper we have assessed the impact of the European Union’s Emissions Trading Scheme (EU ETS) on the level of the carbon premium. The aim of the study is to determine whether there is a stable carbon premium in energy-intensive sectors. Unlike [...] Read more.
In this paper we have assessed the impact of the European Union’s Emissions Trading Scheme (EU ETS) on the level of the carbon premium. The aim of the study is to determine whether there is a stable carbon premium in energy-intensive sectors. Unlike other studies, our research sample included not only companies in the energy sector, but also entities classified as energy-intensive. In the research, we used our own criterion for allocating companies to a clean and dirty portfolio, which made it possible to make the estimation of the carbon premium more resistant to changes in the rules for allocation of emission allowances. We detected a positive, statistically significant carbon premium in the years 2003–2012 and a negative one in the years 2013–2015, but we did not detect a statistically significant carbon premium in the period 2016–2019. This means that there are no grounds for concluding that there is a stable, positive carbon premium for energy-intensive companies subject to the EU ETS over time. We have also noticed that a significant problem in studying the impact of the EU ETS on the carbon premium is the use of static portfolios of clean and dirty companies Full article
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Article
Innovations and ICT: Do They Favour Economic Growth and Environmental Quality?
Energies 2021, 14(5), 1431; https://doi.org/10.3390/en14051431 - 05 Mar 2021
Cited by 1 | Viewed by 354
Abstract
In this paper, we examine whether innovation and information and communication technology (ICT) contribute to reducing producer prices, thus promoting economic growth. We also check whether the contributions of ICT enhance environmental quality, leading to sustainable economic growth. To this end, we apply [...] Read more.
In this paper, we examine whether innovation and information and communication technology (ICT) contribute to reducing producer prices, thus promoting economic growth. We also check whether the contributions of ICT enhance environmental quality, leading to sustainable economic growth. To this end, we apply panel data techniques to the 27 EU countries over the period of recovery from the financial crisis. Our results suggest that technological progress leads to a significant reduction in producer prices. Moreover, controlling for some macroeconomics factors, ICT fosters per capita economic growth in the European countries. Finally, we found that the higher the ICT employment is, the lower greenhouse gas emissions are. Full article
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Article
Energy Efficiency in OECD Countries: A DEA Approach
Energies 2021, 14(4), 1185; https://doi.org/10.3390/en14041185 - 23 Feb 2021
Cited by 1 | Viewed by 561
Abstract
This paper deals with energy efficiency examined through an integrated model that links energy with environment, technology, and urbanisation as related areas. Our main goal is to discover how efficiently developed countries use primary energy and electricity (secondary energy). We additionally want to [...] Read more.
This paper deals with energy efficiency examined through an integrated model that links energy with environment, technology, and urbanisation as related areas. Our main goal is to discover how efficiently developed countries use primary energy and electricity (secondary energy). We additionally want to find out how the inclusion of environmental care and renewable energy capacity affects efficiency. For that purpose, we set up an output-oriented BCC data envelopment analysis that employs a set of input variables with non-negative values to calculate the efficiency scores on minimising energy use and losses as well as environmental emissions for a sample of 30 OECD member states during the period from 2001 to 2018. We develop a couple of baseline models in which we find that countries have mean inefficiency margins of 16.1% for primary energy and from 10.8 to 13.5% for electricity. The results from the extended models show that taking care about environment does not affect efficiency in general, while the reliance on energy produced from renewable sources does slightly reduce it. Full article
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Article
Link between Energy Efficiency and Sustainable Economic and Financial Development in OECD Countries
Energies 2020, 13(22), 5898; https://doi.org/10.3390/en13225898 - 12 Nov 2020
Cited by 3 | Viewed by 558
Abstract
The growing risk of climate change caused by the emission of greenhouse gases poses new challenges to contemporary countries. The development of economies is usually related to increasing levels of greenhouse gas emissions. Therefore, the question arises whether it is possible to achieve [...] Read more.
The growing risk of climate change caused by the emission of greenhouse gases poses new challenges to contemporary countries. The development of economies is usually related to increasing levels of greenhouse gas emissions. Therefore, the question arises whether it is possible to achieve sustainable economic and financial development and simultaneously reduce greenhouse gas emissions. This paper assumes it is possible if energy efficiency is increased. The aim of the paper is to show the link between energy efficiency and sustainable economic and financial development in Organisation for Economic Co-operation and Development (OECD) countries for the period 2000–2018 by using data envelopment analysis (DEA) and regression analysis. The results show a slight upward trend of total factor energy efficiency (TFEE) in OECD countries for the analysed period; however, there is a difference in TFEE levels. Developed OECD countries have higher TFEE levels than developing OECD countries. The links between total factor energy efficiency and sustainable economic and financial development reveal different impacts depending on the variables taken into consideration. Full article
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Planned Papers

The below list represents only planned manuscripts. Some of these manuscripts have not been received by the Editorial Office yet. Papers submitted to MDPI journals are subject to peer-review.

Title: Simulation-based analysis of greenhouse gas emissions in sustainable supply chains
Authors: Blanka Tundys; Tomasz Wiśniewski
Affiliation: University of Szczecin, Faculty of Economy, Finance and Management Management Institute, Logistics Department

Title: Relationships between air transport and greenhouse gas (GHG) emissions and ways of reducing the negative impact of aviation on air pollution and achieving the sustainable development goals (SDGs)
Authors: Magdalena Zioło Piotr Niedzielski Jarosław Kozuba, Ewa Kuzionko-Ochrymiuk, Natalia Drop
Affiliation: Faculty of Economics, Finance and Management, University of Szczecin, 71-101 Szczecin, Poland

Title: Financial sources for sustainable energy efficiency projects
Authors: Wiegand Helmut Fleischer; Diana-Mihaela Țîrcă
Affiliation: "Lucian Blaga” University of Sibiu, Romania “Constantin Brancusi” University of Targu-Jiu, Romania

Title: DOES CARBON RISK MATTER? EVIDENCE OF CARBON PREMIUM IN EU ENERGY-INTENSIVE COMPANIES
Authors: Pawel Witkowski; Adam Adamczyk; Slawomir Franek
Affiliation: University of Szcecin

Title: The relationship between sustainable development goals (and economic factors) and greenhouse gas emissions in European Union countries
Authors: K. Kluza, M.Ziolo, I.Bak, A.Spoz
Affiliation: University of Szczecin, Poland

Title: Energy Efficiency Management in EU countries
Authors: Kiril Simeonovski; Tamara Kaftandžieva; Greg Brock
Affiliation: Faculty of Economics, Ss. Cyril and Methodius University, Macedonia Department of Economics, Georgia Southern University, United States

Title: Environmental and economic impact of BE Vehicles in Western Balkans
Authors: Dame Dimitrovski; Vladimir Naumovski; Filip Ivanovski
Affiliation: Faculty of Mechanical Engineering, University St. Cyril and Methodius, Skopje, R.N. Macedonia Faculty for Business and Economics, University American College, Skopje, R.N Macedonia

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