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Energy Economics and Environmental Sustainability: The Development of Green Industry

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A special issue of Sustainability (ISSN 2071-1050). This special issue belongs to the section "Energy Sustainability".

Deadline for manuscript submissions: 10 October 2025 | Viewed by 19188

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Special Issue Editors

Prof. Dr. Ruipeng Tan

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Guest Editor

School of Economics, Hefei University of Technology, Hefei 230601, China
Interests: energy and environment policy analysis; enterprise green transformation
Special Issues, Collections and Topics in MDPI journals

Dr. Mengmeng Xu

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Guest Editor

School of Economics and Management, Nanjing University of Science and Technology, Nanjing 210000, China
Interests: climate change; energy economics and policy; green transition; low-carbon consumption; environmental effect assessment

Special Issue Information

Dear Colleagues:

The intertwined challenges of climate change, energy security, and economic growth form a complex nexus that demands multifaceted solutions. As nations grapple with escalating energy demands and growing environmental concerns, the role of green industries in fostering both energy economics and environmental sustainability becomes ever more critical. This cross-disciplinary area of inquiry not only is scientifically intriguing, but also holds substantial implications for policymakers, stakeholders, and the general public.

The aim of this Special Issue, tentatively entitled "Energy Economics and Environmental Sustainability: The Development of Green Industry," is to compile cutting-edge research that explores the economic, technological, and social aspects of green industries. We seek contributions that analyze the synergies and trade-offs between energy production, economic profitability, and environmental protection. This Special Issue aims to foster discussions that could inform effective strategies for sustainable growth, directly aligning with the broader scope of our journal, which focuses on the intersection of economics, policy, and environmental studies.

We welcome empirical, theoretical, and review papers on topics that include, but are not limited to, the following:

Economic Viability of Renewable Energy Sources: Examining the economics of solar, wind, hydro, and other renewable energy sources;
Green Technologies and Innovations: Evaluating the impact of green technologies on industrial development and environmental conservation;
Policy Frameworks for Green Industry: Comparative analyses of governmental policies that stimulate or hinder the growth of green industries;
Social Impacts of Green Industry: Investigating how the development of green industries affects job creation, social equity, and community resilience;
Resource Management for Sustainability: Approaches to managing natural resources in a manner that balances economic growth and environmental protection;
Market Dynamics in Green Industries: Studies on supply and demand, competition, and other market forces in green industry;
Sustainable Business Models: Evaluating how businesses in the green sector can achieve profitability while meeting environmental and social goals;
Global and Regional Case Studies: Analyses that offer lessons from specific geographies regarding the development of green industry;
Energy Transitions and Infrastructure: Studies on the shift from fossil-fuel-based systems to sustainable energy infrastructures.

We look forward to your contributions and hope that this Special Issue will serve as a platform for enriching the academic and policy debates on this crucial topic.

We look forward to receiving your contributions.

Prof. Dr. Ruipeng Tan
Dr. Mengmeng Xu
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. 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.

Keywords

green industry development
energy economics
environmental policy
renewable energy viability
sustainable business models
resource management
social equity in green industries
regional case studies
technological innovation for sustainability
market dynamics in renewable energy

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Published Papers (11 papers)

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Research

28 pages, 1076 KiB

Open AccessArticle

How Oil Prices Impact the Japanese and South Korean Economies: Evidence from the Stock Market and Implications for Energy Security

by Willem Thorbecke

Sustainability 2025, 17(11), 4794; https://doi.org/10.3390/su17114794 - 23 May 2025

Viewed by 344

Abstract

Oil prices are volatile. How does this affect Japanese and South Korean firms? Since they import almost all of their oil, oil price increases may harm their economies. To investigate these issues, this paper examines how oil prices affect sectoral stock returns. Using Hamilton’s method to decompose oil price changes into portions driven by global demand and by oil supply, the results indicate that many sectors in both countries benefit from increases in global aggregate demand that raise oil prices. Many industrial firms in Japan that produce advanced products also benefit from supply-driven oil price changes. The finding that many firms benefit from higher oil prices indicates that blanket subsidies to compensate for oil price increases are unnecessary. Targeted subsidies would be more economical and eco-friendly. Many sectors in Japan and Korea that produce for the domestic economy are harmed by oil price increases. Large oil price swings will continue due to wars, tariffs, geopolitical events, and climate change. These will whipsaw sectors in both countries. To shield their economies from oil price changes, Japan and Korea should invest in technologies to improve wind, solar, and hydro power and should facilitate intra-regional trade in renewables. They should also encourage individual sectors such as airlines, cosmetics, agriculture, hotels, semiconductors, and automobiles to reduce their exposure to fossil fuels and to choose environmentally friendly production methods. In addition, both countries should expedite their targets for achieving carbon neutrality. This paper considers ways to achieve these goals. Full article

(This article belongs to the Special Issue Energy Economics and Environmental Sustainability: The Development of Green Industry)

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23 pages, 4243 KiB

Open AccessArticle

Blockchain-Enabled Closed-Loop Supply Chain Optimization for Power Battery Recycling and Cascading Utilization

by Haiyun Yu and Shuo Wang

Sustainability 2025, 17(9), 4192; https://doi.org/10.3390/su17094192 - 6 May 2025

Viewed by 316

Abstract

This article investigates decision-making strategies for power battery recycling and cascading utilization within the context of rapidly advancing blockchain technology, aiming to enhance the sustainability and efficiency of energy storage systems. A closed-loop recycling supply chain model is proposed, integrating key stakeholders such as power battery manufacturers, OEM (original equipment manufacturer) vehicle manufacturers, third-party recyclers, tiered users, and consumers. The study focuses on critical factors including competition among recycling channels, the level of blockchain-enabled traceability, and the cascading utilization rate of retired batteries. By analyzing four hybrid recycling modes, the research identifies optimal recycling strategies and evaluates their economic and environmental impacts. The findings provide a theoretical foundation and practical insights for improving the sustainability of power battery recycling, contributing to the development of cleaner and more efficient energy systems. Full article

(This article belongs to the Special Issue Energy Economics and Environmental Sustainability: The Development of Green Industry)

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21 pages, 1093 KiB

Open AccessArticle

Sugarcane Bioelectricity Supply in Brazil: A Regional Concentration and Structural Analysis

by Luiz Moreira Coelho Junior, Brunna Hillary Calixto de Oliveira, Ingryd Yohane Bezerra Almeida Santos, Vanessa Batista Schramm, Fernando Schramm, Felipe Firmino Diniz and Edvaldo Pereira Santos Júnior

Sustainability 2025, 17(9), 3780; https://doi.org/10.3390/su17093780 - 22 Apr 2025

Viewed by 317

Abstract

Sugarcane products come from agro-industrial biomass that is increasingly used in the Brazilian energy matrix, which is important for the sustainability and diversification of renewable energy sources. This article examines the concentration and structure of the supply of sugarcane bioelectricity in Brazil from 1975 to 2023. It uses information on the quantity and cumulative licensed potential of sugarcane-based thermoelectric plants in operation, available from the National Electric Energy Agency (ANEEL) through its Generation Information System (SIGA). To measure regional concentration, the study considered geographical areas (large regions, states, intermediate regions and municipalities) using the following concentration indicators: the Concentration Ratio, Herfindahl–Hirschman Index, Theil Entropy, Comprehensive Concentration Index, and Hall–Tideman Index. The main results show a high concentration of sugarcane bioelectricity at regional and state levels, with a predominance in the Southeast-Central-West axis. During the period analyzed, the State of São Paulo remained the leader in terms of energy generated by sugarcane thermoelectric plants operating in Brazil. In the intermediate regions, the concentration was moderate, while at the municipal level, the concentration was low, indicating a highly competitive market. It can be concluded that the areas with the highest concentration are strategic for directing investments and guiding public policies for the sugarcane bioelectricity sector, which are priority locations for new opportunities. The identification of the most promising regions contributes to a more efficient development of the sector. Given that, a more equitable distribution of bioelectricity production across the country could enhance Brazil’s energy security, reduce regional vulnerabilities, and promote more resilient energy systems. Full article

(This article belongs to the Special Issue Energy Economics and Environmental Sustainability: The Development of Green Industry)

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28 pages, 2332 KiB

Open AccessArticle

Efficiency Measurement and Trend Analysis of the Hydrogen Energy Industry Chain in China

by Pengcheng Zhang, Boliang Lu, Yijie Qu, Haslindar Ibrahim and Hao Ding

Sustainability 2025, 17(7), 3140; https://doi.org/10.3390/su17073140 - 2 Apr 2025

Cited by 1 | Viewed by 516

Abstract

Hydrogen energy, characterized by its abundant resources, green and low-carbon attributes, and wide-ranging applications, is a critical energy source for achieving carbon peaking and carbon neutrality goals. The operational efficiency of the hydrogen energy industrial chain is pivotal in determining the security of its supply chain and its contribution to China’s energy transition. This study investigates the efficiency of China’s hydrogen energy industrial chain by selecting 30 listed companies primarily engaged in hydrogen energy as the research sample. A three-stage data envelopment analysis (DEA) model is applied to assess the industry’s comprehensive technical efficiency, pure technical efficiency, and scale efficiency. Additionally, kernel density estimation is utilized to analyze efficiency trends over time. Key factors influencing efficiency are identified, and targeted recommendations are provided to enhance the performance and sustainability of the hydrogen energy industrial chain. These findings offer valuable insights to support the development and resilience of China’s hydrogen energy industry. Full article

(This article belongs to the Special Issue Energy Economics and Environmental Sustainability: The Development of Green Industry)

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21 pages, 2087 KiB

Open AccessArticle

Harnessing Renewable Energy: Exploring the Dynamic Evolution of Common Prosperity in China

by Bo Wang, Xiaoxu Zhang, Jing Huang and Yang Su

Sustainability 2024, 16(23), 10423; https://doi.org/10.3390/su162310423 - 28 Nov 2024

Viewed by 1022

Abstract

The transition from fossil fuels to clean energy is a pivotal challenge in global climate efforts. China’s strategy emphasizes an orderly phase-out of fossil fuels, advocating for renewable energy as a sustainable alternative. This shift is integral to China’s “common prosperity” agenda, which seeks to harmonize economic growth with social equity and environmental sustainability. However, achieving this balance presents complex challenges, particularly in decoupling economic progress from traditional energy consumption patterns. This study addresses the critical need to evaluate how renewable energy contributes to common prosperity by developing a comprehensive indicator framework. By analyzing the dynamic evolution of prosperity levels across 30 Chinese provinces from 2008 to 2020, the research highlights regional disparities and identifies key areas for policy intervention. The findings underscore the importance of integrating renewable energy initiatives with social policies to enhance living standards and promote equitable economic growth. This paper provides valuable insights for policymakers and stakeholders aiming to advance sustainable development and achieve common prosperity in China, offering a foundation for more informed and effective energy and economic policies. Full article

(This article belongs to the Special Issue Energy Economics and Environmental Sustainability: The Development of Green Industry)

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19 pages, 277 KiB

Open AccessArticle

Does Green Finance Development Enhance the Sustainability Performance of China’s Energy Companies?

by Li Guo, Fangxia Chen and Linhao Chen

Sustainability 2024, 16(18), 8052; https://doi.org/10.3390/su16188052 - 14 Sep 2024

Cited by 1 | Viewed by 1597

Abstract

The achievement of China’s “dual-carbon” standard has been devoted to the green transformation and the sustainable growth of energy firms, both of which can be financed by the growth of green financing. This study aims to investigate how the development level of green finance influences the sustainable development performance of listed energy companies in China. It seeks to delve into the underlying mechanisms connecting green finance with financing constraints and, subsequently, with sustainability performance, as well as exploring the relationship between green finance and green total factor productivity in relation to sustainability performance. Additionally, this study will provide strategies and recommendations to enhance the sustainable development capabilities of energy enterprises. This study empirically evaluates the four aspects of sustainable development performance: economic, social, environmental, and innovative performance—as well as its mechanism of action using the fixed-effects pattern with two ways and the mediated-effects pattern using unbalanced panel data from Chinese-listed energy firms spanning from 2011 to 2020. The study discovered that (1) energy firms’ performance in sustainable development is greatly enhanced by the progression of green finance; (2) the advancement of green finance effectively boosts the sustainable development performance of energy companies by reducing financing constraints and enhancing green total factor productivity; (3) a more distinct relationship is evident between the extent of green financing development and the performance of sustainable development within state-owned enterprises. While green finance development has a stronger role in innovative performance for larger energy firms, it has a noticeable proactive impact on the economic, social, and environmental performance of smaller energy enterprises. Based on the study’s findings, this paper presents recommendations for the enhancement of green financing policies and the sustainable enhancement of energy enterprises in China. Full article

(This article belongs to the Special Issue Energy Economics and Environmental Sustainability: The Development of Green Industry)

29 pages, 1888 KiB

Open AccessArticle

Environmental Sustainability in BRICS Economies: The Nexus of Technology Innovation, Economic Growth, Financial Development, and Renewable Energy Consumption

by Muhammad Asif, Jian-Qiao Li, Muhammad Azam Zia, Muhammad Hashim, Uzair Aslam Bhatti, Mughair Aslam Bhatti and Ahmad Hasnain

Sustainability 2024, 16(16), 6934; https://doi.org/10.3390/su16166934 - 13 Aug 2024

Cited by 26 | Viewed by 5536

Abstract

The long-term development goals of most countries face significant challenges in reducing emissions, improving environmental sustainability, and mitigating the negative effects of climate change. This study looks at how the ecological sustainability of BRICS countries is affected by economic growth, financial development, new technologies, and renewable energy consumption with the mediating effect of trade openness. The study covers the years 2004–2023, and it was based on fixed-effect models that use static panel data. Data were collected from the World Development Indicators website. The countries and time frame for this study were selected on the basis of data availability. These findings show that the use of renewable energy sources, technological innovation, and financial development all have a significant and positive impact on environmental sustainability. Nevertheless, environmental sustainability is significantly and negatively impacted by economic growth. Furthermore, trade openness functions as a significant mediator between them. Based on empirical evidence, the paper suggests that the BRICS nations seek sustainable economic development. Moreover, government agencies need to accurately evaluate the connection between financial development and emission reduction when formulating programs to cut emissions. Full article

(This article belongs to the Special Issue Energy Economics and Environmental Sustainability: The Development of Green Industry)

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28 pages, 470 KiB

Open AccessArticle

Navigating Green Innovation in High-Tech Manufacturing: The Roles of Customer Concentration and Digital Transformation

by Lijun Fan, Yang Guo, Yiwen Wang and Wei Wang

Sustainability 2024, 16(15), 6358; https://doi.org/10.3390/su16156358 - 25 Jul 2024

Viewed by 1768

Abstract

The increasingly environmental issues pose challenges to the economic development of countries, particularly hindering industrial transformation in developing nations. This study, grounded in the Resource-Based View, examines factors influencing green innovation in high-tech manufacturing firms. Market interactions and digital technologies significantly impact resource investments in green innovation. Using data from Chinese high-tech manufacturing firms from 2007 to 2021, the study reveals that customer concentration negatively affects green innovation, while digital transformation promotes it and mitigates the inhibitory effect of customer concentration. To explain this mechanism, green innovation is divided into green process innovation and green product innovation, and the effect of customer concentration is more pronounced in green product innovation. Further testing discusses the roles of the external environment, internal governance, and manager characteristics. Specifically, product market competition and political resources influence firms’ reliance on major customers, allowing digital technologies to optimize resource allocation for green innovation. In terms of internal governance, flexibility and regulatory strength alter the emphasis firms place on green innovation, with higher governance efficiency reducing dependency on major customers. Managerial characteristics, particularly managers’ rationality, determine the importance placed on digital technologies versus customer demands, leading to varied investment decisions in green innovation. Our findings provide valuable insights for optimizing resource allocation and enhancing green innovation investment, thereby effectively promoting sustainable regional economic development. Full article

(This article belongs to the Special Issue Energy Economics and Environmental Sustainability: The Development of Green Industry)

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24 pages, 359 KiB

Open AccessArticle

Decarbonization in the Oil and Gas Sector: The Role of Power Purchase Agreements and Renewable Energy Certificates

by Stamatios K. Chrysikopoulos, Panos T. Chountalas, Dimitrios A. Georgakellos and Athanasios G. Lagodimos

Sustainability 2024, 16(15), 6339; https://doi.org/10.3390/su16156339 - 24 Jul 2024

Cited by 1 | Viewed by 3055

Abstract

This study examines the adoption of Power Purchase Agreements (PPAs) and Renewable Energy Certificates (RECs) as strategic tools for decarbonization in the oil and gas sector. Focusing on the 21 largest oil and gas companies across Europe, North America, and South America, the analysis reveals varied adoption rates and strategic emphases between regions. European companies exhibit robust integration of PPAs and RECs to expand renewable energy capacities and reduce emissions, aligning closely with aggressive EU climate policies. In contrast, American companies show a cautious approach, focusing more on emission reduction from existing operations than on renewable expansions. The study’s findings indicate that, while both regions are advancing in their decarbonization efforts, European companies are leading with more defined renewable energy targets and comprehensive low-carbon strategies. This research contributes to understanding how different regulatory environments and market conditions influence corporate strategies towards sustainable energy transitions in traditionally hard-to-abate industries. Full article

(This article belongs to the Special Issue Energy Economics and Environmental Sustainability: The Development of Green Industry)

11 pages, 607 KiB

Open AccessArticle

To What Extent Do Alternative Energy Sources Displace Coal and Oil in Electricity Generation? A Mean-Group Panel Analysis

by Brantley Liddle

Sustainability 2024, 16(13), 5319; https://doi.org/10.3390/su16135319 - 22 Jun 2024

Viewed by 1326

Abstract

This paper determines by how much alternative electricity generation sources—natural gas, nuclear, hydro, and renewables—displace electricity generation from coal and oil. It does so by employing a first-difference model and a mean-group estimator applied to a panel that spans 1985–2019 for 27 high- and 13 middle-income countries. As such, our approach avoids/addresses several statistical issues common in long-macro panel analyses—heterogeneity, nonstationarity, and cross-sectional dependence—that have largely been ignored/unaddressed in previous displacement studies. Ultimately, we find that the displacement effect is small and only marginally significant for nuclear, and is significant though less than unity for natural gas and hydro, whereas intermittent renewables (solar and wind) have unitary displacement effect. These results suggest a substantially greater displacement potential for alternative generation sources than typically found by the previous literature. In other words, increasing hydro and wind and solar are all impactful ways to decarbonize the electricity system. Full article

(This article belongs to the Special Issue Energy Economics and Environmental Sustainability: The Development of Green Industry)

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22 pages, 4351 KiB

Open AccessArticle

Factors Influencing Carbon Emissions in High Carbon Industries in the Zhejiang Province and Decoupling Effect Analysis

by Yong Xiao, Cheng Yong, Wei Hu and Hanyun Wang

Sustainability 2023, 15(22), 15975; https://doi.org/10.3390/su152215975 - 15 Nov 2023

Cited by 2 | Viewed by 1771

Abstract

High-carbon emission industries are the most important source of carbon emissions in the Zhejiang Province. Due to the differences in the development level of various industries, it is necessary to adjust the carbon emission reduction strategies of various industries. As the first ecological province in China, the promotion of carbon emission reduction in high-carbon industries in the Zhejiang Province plays an important leading role in the development of low-carbon economy in other industries and other provinces in China. Taking eight high-carbon industries in Zhejiang Province as the research object, this paper uses the LMDI factor decomposition model to deconstruct the influencing factors and effects of carbon emissions in eight industries in the Zhejiang Province from 2010 to 2021. On this basis, the Tapio decoupling model is applied to study the reasons and driving factors of the decoupling between economic growth and carbon emissions. The results showed that: (1) During the study period, the total carbon emissions of eight industries in the Zhejiang Province increased by 24,312,200 t, showing an overall upward trend. (2) The effect of economic growth and population size led to the rapid growth of carbon emissions in eight industries in the Zhejiang Province, and the effect of energy intensity on carbon emission reduction was the most significant; the effect of industry structure presented a trend of first promoting and then inhibiting, and the effect of carbon emission coefficient always inhibited carbon emissions. (3) The population size has restricted decoupling efforts; energy intensity has the greatest impact on the realization of industry decoupling; energy structure and industry structure decoupling efforts are small; the carbon emission coefficient has always influenced decoupling efforts. This research paper will provide suggestions and policies for the development of low-carbon economy in Zhejiang Province. Full article

(This article belongs to the Special Issue Energy Economics and Environmental Sustainability: The Development of Green Industry)

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