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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 "I: Energy Economics and Policy".

Deadline for manuscript submissions: closed (22 January 2022) | Viewed by 17358

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, Collections and Topics in MDPI journals
Prof. Dr. Diana-Mihaela Țîrcă
E-Mail Website
Guest Editor
Department of Management and Business Administration, Faculty of Economics, “Constantin Brâncuși” University of Târgu-Jiu, 210135 Târgu-Jiu, Romania
Interests: sustainable development; regional development; macroeconomics
Special Issues, Collections and Topics 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 submissions that pass pre-check are 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 2200 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 (19 papers)

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Research

Article
Logarithmic Mean Divisia Index Decomposition Based on Kaya Identity of GHG Emissions from Agricultural Sector in Baltic States
Energies 2022, 15(3), 1195; https://doi.org/10.3390/en15031195 - 07 Feb 2022
Viewed by 550
Abstract
Greenhouse gas (GHG) emissions from agriculture contribute to climate change. The consequences of unsustainable agricultural activity are polluted water, soil, air, and food. The agricultural sector has become one of the major contributors to global GHG emissions and is the world’s second largest [...] Read more.
Greenhouse gas (GHG) emissions from agriculture contribute to climate change. The consequences of unsustainable agricultural activity are polluted water, soil, air, and food. The agricultural sector has become one of the major contributors to global GHG emissions and is the world’s second largest emitter after the energy sector, which includes emissions from power generation and transport. Latvian and Lithuanian agriculture generates about one fifth of GHG emissions, while Estonia generates only about one tenth of the country’s GHG emissions. This paper investigates the GHG trends in agriculture from 1995 to 2019 and the driving forces of changes in GHG emissions from the agricultural sectors in the Baltic States (Lithuania, Latvia, and Estonia), which are helpful for formulating effective carbon reduction policies and strategies. The impact factors have on GHG emissions was analysed by using the Logarithmic Mean Divisia Index (LMDI) method based on Kaya identity. The aim of this study is to assess the dynamics of GHG emissions in agriculture and to identify the factors that have had the greatest impact on emissions. The analysis of the research data showed that in all three Baltic States GHG emissions from agriculture from 1995 to 2001–2002 decreased but later exceeded the level of 1995 (except for Lithuania). The analysis of the research data also revealed that the pollution caused by animal husbandry activities decreased. GHG intensity declined by 2–3% annually, but the structure of agriculture remained relatively stable. The decomposition of GHG emissions in agriculture showed very large temporary changes in the analysed factors and the agriculture of the Baltic States. GHG emissions are mainly increased by pollution due to the growing economy of the sector, and their decrease is mainly influenced by two factors—the decrease in the number of people employed in the agriculture sector and the decreasing intensity of GHGs in agriculture. The dependence of the result on the factors used for the decomposition analysis was investigated by the method of multivariate regression analysis. Regression analysis showed that the highest coefficient of determination (R2 = 0.93) was obtained for Estonian data and the lowest (R2 = 0.54) for Lithuanian data. In the case of Estonia, all factors were statistically significant; in the case of Latvia and Lithuania, one of the factors was statistically insignificant. The identified GHG emission factors allowed us to submit our insights for the reduction of emissions in the agriculture of the Baltic States. Full article
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Article
Business Model Canvas and Energy Enterprises
Energies 2021, 14(21), 7198; https://doi.org/10.3390/en14217198 - 02 Nov 2021
Cited by 3 | Viewed by 1006
Abstract
So far, little is known about the Business Model Canvas development in the energy sector. In this paper, we fill this knowledge gap and modify the Business Model Canvas. Based on the cause–effect analysis combined with the literature searching method, we suggest that [...] Read more.
So far, little is known about the Business Model Canvas development in the energy sector. In this paper, we fill this knowledge gap and modify the Business Model Canvas. Based on the cause–effect analysis combined with the literature searching method, we suggest that Osterwalder’s Canvas for energy enterprise should be modified because the available Canvas adaptations cannot fully capture the energy enterprise’s business model or realise its business operations combined with the public interest. We propose a new original Canvas adaptation by adding two crucial blocks representing the mission, energy accountability, and impact on stakeholders in the Business Model Canvas. The findings make two main contributions. First, they contribute to developing entrepreneurship theory. We formulate an original definition of a business model, first showing the limitations of current definitions. We verify Chesbrough’s functions of business models. Second, compared to earlier business model frameworks, the new model clearly points out that accountability in firms’ everyday businesses is at the core of business development. Moreover, this article formulates future research avenues in the energy sector and provides a helpful planning tool for practitioners. Full article
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Article
Climate Change Challenges and Community-Led Development Strategies: Do They Fit Together in Fisheries Regions?
Energies 2021, 14(20), 6614; https://doi.org/10.3390/en14206614 - 13 Oct 2021
Viewed by 522
Abstract
Coastal and terrestrial fisheries communities in Europe, often economically marginalised, are likely to face severe impacts as climate change becomes more acute. Although progress on climate mitigation and adaptation from national governments remains slow, local development actions can also address these impacts from [...] Read more.
Coastal and terrestrial fisheries communities in Europe, often economically marginalised, are likely to face severe impacts as climate change becomes more acute. Although progress on climate mitigation and adaptation from national governments remains slow, local development actions can also address these impacts from the bottom up. In this paper we analyse the Fisheries and Sea Operational Programme 2014–2020 and 36 Local Development Strategies prepared within the framework of this programme for the case of Poland. The strategies, which were prepared by cross-sectoral, area-based partnerships known as Fisheries Local Action Groups, are analysed using a content analysis approach. The aim was to assess the degree to which local stakeholders sought to address the climate challenge. We found that the mitigation of climate impacts and the development of renewable energy did not feature prominently in the analysed documents, suggesting that both central policymakers and local stakeholders in Polish fisheries regions had a low level of awareness about the climate problem and their potentially important role in addressing it. Transformation to a post-carbon society undoubtedly requires additional, targeted support and extensive educational activities at the local level, in Poland and elsewhere. Full article
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Article
Management of Waste Batteries and Accumulators: Quest of European Union Goals
Energies 2021, 14(19), 6273; https://doi.org/10.3390/en14196273 - 01 Oct 2021
Cited by 2 | Viewed by 761
Abstract
Energy issues are multifaceted and are not limited to power plants, biogas plants or transmission lines. They also include the production, usage and utilisation of batteries and accumulators, which are increasingly valuable due to, among other things, the decision to develop the production [...] Read more.
Energy issues are multifaceted and are not limited to power plants, biogas plants or transmission lines. They also include the production, usage and utilisation of batteries and accumulators, which are increasingly valuable due to, among other things, the decision to develop the production of electric cars. This article creates new ground by analysing the European Union management system of batteries and accumulators in the cause–effect context. This paper’s insights have emerged iteratively based on the theory reviewed and the empirical case—a deep analysis of the Polish management system of batteries and accumulators. The findings show that the public institutions in the analysed European Union Member State—Poland—were not ready to create a fully coherent and effective oversight system on managing batteries and accumulators. It may limit the reliability of the European Union’s reporting on battery and accumulator management, which is a part of the European energy policy. The findings make two main contributions: first, they contribute to developing a theory of energy resource management; second, this article contributes to a further contextual diagnosis of the comprehensive management system of waste batteries and accumulators, which is an important part of the European Battery Alliance. Moreover, the avenues for further research emerged from the present study. Full article
Article
Impact Investing in Digital Business Models
Energies 2021, 14(18), 5785; https://doi.org/10.3390/en14185785 - 14 Sep 2021
Cited by 1 | Viewed by 559
Abstract
In recent years, the role of digital enterprises in the global economy has been growing. The issue of assessing their impact on social aspects is noticeable. The aim of the article is to show social impact as a key factor in the development [...] Read more.
In recent years, the role of digital enterprises in the global economy has been growing. The issue of assessing their impact on social aspects is noticeable. The aim of the article is to show social impact as a key factor in the development of digital business models. The Analytic Hierarchy Process (AHP) method used and the criteria for social impact assessments based on heuristic methods allowed for the components of business models that relate to social impact to be ranked, and subsequently for socially oriented enterprises functioning in the digital economy to be ranked. The companies selected for the research are understood by the authors as digital business models, the concept of which is embedded in a pro-social management intention. Purposive sampling, which in this situation was considered to be the most effective in terms of the objective of the paper, was applied. The literature review, analyses and heuristic research have demonstrated that the social factor in modern applications is a driver of value creation and is conducive to social profit. The ranking of the criteria responsible for shaping the social impact of digital business models showed that the most important ones are value proposition (pro-social), social profit and economic profit. This means a strong relationship between social and economic aspects. Full article
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Article
Internet of Things and Other E-Solutions in Supply Chain Management May Generate Threats in the Energy Sector—The Quest for Preventive Measures
Energies 2021, 14(17), 5381; https://doi.org/10.3390/en14175381 - 30 Aug 2021
Cited by 9 | Viewed by 854
Abstract
Energy firms are the beneficiaries and initiators of innovation, and energy investments are a crucial area of business activity that is specially protected in any country. This is no wonder, as energy security is the basis for the functioning of states and economies. [...] Read more.
Energy firms are the beneficiaries and initiators of innovation, and energy investments are a crucial area of business activity that is specially protected in any country. This is no wonder, as energy security is the basis for the functioning of states and economies. The Internet of Things and Big Data create both new challenges and new threats. This study aimed to identify the potential threats and determine preventive measures, as well as to establish the agile principles related to energy firms’ logistics. The method of the narrative summary in combination with the literature searching method was used. Two conclusions emerged: first, research serves to develop the discipline of management science; second, the identification of risks associated with innovation serves practitioners. In addition, the study defined further research directions. Full article
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Article
A Dynamic Linkage between Financial Development, Energy Consumption and Economic Growth: Evidence from an Asymmetric and Nonlinear ARDL Model
Energies 2021, 14(16), 5006; https://doi.org/10.3390/en14165006 - 15 Aug 2021
Cited by 3 | Viewed by 748
Abstract
Developing countries, including Pakistan, need a considerable effort to withstand economic growth; however, these countries have to cope with greenhouse gases emission and other environmental concerns. Financial advancement gives rise to modern, sometimes even innovative and energy-efficient technologies and, thus, contributes to a [...] Read more.
Developing countries, including Pakistan, need a considerable effort to withstand economic growth; however, these countries have to cope with greenhouse gases emission and other environmental concerns. Financial advancement gives rise to modern, sometimes even innovative and energy-efficient technologies and, thus, contributes to a decline in energy usage among market entities: organizations and households. The current study explores the nonlinear asymmetric relationship between economic growth (Y) and the selected exogenous variables in Pakistan by incorporating time series data spanning from 1971 to 2016. Economic growth was considered as a target variable, while energy consumption (EC), electric power consumption (EPC), financial development (FD), and energy imports (EM) were considered independent variables. To investigate cointegration among the given variables, a nonlinear ARDL bound testing approach was employed. BDS independence test was used to check the nonlinearity, and a structural break unit root test was used for testing data stationarity. The findings confirm the presence of co-integration in the selected variables. A symmetric unidirectional significant causality exists running from EPC to Y, while a bidirectional symmetric causality was found between FD and Y. In contrast, any negative shocks in EPC, FD, and EM were found to have a positive asymmetric effect on Y. Meanwhile, a neutral effect was found between EC and Y. The outcomes of this study can provide guidelines for future researchers and policymakers. Full article
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Article
Energy and Local Safety: How the Administration Limits Energy Security
Energies 2021, 14(16), 4841; https://doi.org/10.3390/en14164841 - 09 Aug 2021
Cited by 6 | Viewed by 562
Abstract
Energy safety is multifaceted and is not limited only to nuclear plants. The research on local energy safety is not considerable. This article creates new ground by analysing the Polish local energy safety system in the cause–effect context. Consistent with an abductive approach, [...] Read more.
Energy safety is multifaceted and is not limited only to nuclear plants. The research on local energy safety is not considerable. This article creates new ground by analysing the Polish local energy safety system in the cause–effect context. Consistent with an abductive approach, this paper’s insights have emerged iteratively based on the theory reviewed and the empirical case. The research aimed to determine whether the local administration negatively affected energy security and proposed preventive measures increased limited energy security. The findings show that flawed local government operations reduce local energy safety. Moreover, the State authorities did not recognise the weaknesses of the local energy safety system properly. The findings make two main contributions: first, they contribute to developing energy safety theory; and second, this article contributes to a further contextual diagnosis of the comprehensive energy system and can, in turn, be relevant for its further studies in worldwide context. Full article
Article
Connecting Blue Economy and Economic Growth to Climate Change: Evidence from European Union Countries
Energies 2021, 14(15), 4600; https://doi.org/10.3390/en14154600 - 29 Jul 2021
Cited by 4 | Viewed by 670
Abstract
Blue Economy represents a new and interesting concept on a global level, both from the economic potential but also by the fact that it can be used to reduce environmental degradation. The main goal of this research is to identify the causality relations [...] Read more.
Blue Economy represents a new and interesting concept on a global level, both from the economic potential but also by the fact that it can be used to reduce environmental degradation. The main goal of this research is to identify the causality relations between the greenhouse gas emissions, the Blue Economy and economic growth based on a panel of annual data from the 28 countries that are members of the European Union (EU) over the 2009–2018 period. After applying stationarity and cointegration tests, the long term cointegration coefficients shall be determined with the help of the fully modified ordinary least squares (FMOLS) estimator. Granger causality estimation based on the vector error correction model (VECM) was applied to identify the causality relationship between the variables and to detect the direction of causality. Based on the identified causality relations, the Blue Economy has a significant influence on greenhouse gas emissions in the long run. Unidirectional causality relations were identified from the economic growth of greenhouse gas emissions in the long term, as well as from the greenhouse gas emissions on economic growth in the short term. Full article
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Article
Analysis of the Relationship of the Degree of Aviation Sector Development with Greenhouse Gas Emissions and Measures of Economic Development in the European Union Countries
Energies 2021, 14(13), 3801; https://doi.org/10.3390/en14133801 - 24 Jun 2021
Viewed by 691
Abstract
The rapid growth of aviation over the past fifty years has resulted in numerous negative environmental impacts due to the combustion of fossil fuels in aircraft engines. This paper presents the relationship between air transport and GHG emissions. Based on data on the [...] Read more.
The rapid growth of aviation over the past fifty years has resulted in numerous negative environmental impacts due to the combustion of fossil fuels in aircraft engines. This paper presents the relationship between air transport and GHG emissions. Based on data on the development of aviation, the level of GHG emissions from transport, environmental tax revenues and the amount of GDP per capita in the countries of the European Union, an attempt was made to create a typification that would illustrate the interaction of GHG emissions with air transport, environmental taxes and GDP in the years 2009–2018. The next step to confirm the obtained results was the application of statistical methods: the TOPSIS (Technique for Order of Preference by Similarity to Ideal Solution) method of linear ordering and the Perkal index. Based on the study findings, the analyzed countries were divided into three groups: the group of innovators, the stable group and the group of students. The analysis revealed the relationship of all three analyzed variables with air transport. The development of the aviation sector leads to a significant increase in GHG emissions from transport, increased revenues from environmental taxes and acceleration of the rate of economic growth of a country. Full article
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Article
Is the European Union Making Progress on Energy Decarbonisation While Moving towards Sustainable Development?
Energies 2021, 14(13), 3792; https://doi.org/10.3390/en14133792 - 24 Jun 2021
Cited by 4 | Viewed by 675
Abstract
Three-quarters of global greenhouse gas emissions come from burning fossil fuels for energy. To confront climate change, the world must move away from fossil fuels and decarbonise its energy systems. In the light of European Union documents, decarbonisation signifies the elimination of CO [...] Read more.
Three-quarters of global greenhouse gas emissions come from burning fossil fuels for energy. To confront climate change, the world must move away from fossil fuels and decarbonise its energy systems. In the light of European Union documents, decarbonisation signifies the elimination of CO2 emissions on account of their harmfulness to the environment. The European Union is planning that by 2030, these emissions will be 40% lower in comparison to 1990. A fundamental query arises here: do the achievements of EU countries give cause for optimism in this regard? The aim of the study is an attempt to determine the tendency of changes concerning energy decarbonisation as well as to distinguish typological groups of bodies (EU countries) with similar dynamics in the researched phenomenon. Trend functions and the distance matrices of the growth rate of the researched phenomenon were used for the dynamic classification. The conducted research confirmed that EU countries indicate spatial differentiation in terms of CO2 emissions. It is related to the general socio-economic development of countries, their level of industrialisation, the quality of their natural environment, their degree of urbanisation, etc. The most favourable situation, in terms of the analysed phenomenon, i.e., the largest average decrease in CO2 per capita in the analysed period, was characteristic of Ireland, Greece, and Cyprus. On the other hand, an adverse situation relating to an increase in the indicator occurred in five EU countries, specifically in Luxembourg and Lithuania. Full article
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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
Cited by 2 | Viewed by 770
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
Cited by 4 | Viewed by 1381
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
Cited by 6 | Viewed by 1019
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
Cited by 3 | Viewed by 969
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
Cited by 1 | Viewed by 711
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 6 | Viewed by 646
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 7 | Viewed by 998
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 18 | Viewed by 960
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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