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Decarbonization of the Greek economy requires significant investments in clean technologies. This will boost demand for goods and services and will create multiplier effects on output value added and employment, though reliance on imported technologies might increase the trade deficit. This study employs input–output analysis to estimate the direct, indirect, and multiplier effects of green transition investments on Greek output, value added, employment, and imports across five-year intervals from 2025 to 2050. Two scenarios are considered: the former is based on the National Energy and Climate Plan (NECP), driven by a large-scale exploitation of RES and technologies promoting electrification of final demand, while the latter (developed in the context of the CLEVER project) prioritizes energy sufficiency and efficiency interventions to reduce final energy demand. In the NECP scenario, GDP increases by 3–10% (relative to 2023), and employment increases by 4–11%. The CLEVER scenario yields smaller direct effects—owing to lower investment levels—but larger induced impacts, since energy savings boost household disposable income. The consideration of three sub-scenarios adopting different levels of import-substitution rates in key manufacturing sectors exhibits pronounced divergence, indicating that targeted industrial policies can significantly amplify the domestic economic benefits of the green transition. Full article

Under the global context of climate governance and sustainable development, low-carbon energy transition has become a strategic imperative. As a critical force in resource allocation, the financial system’s impact on energy transition has attracted extensive academic attention. This paper presents the first comprehensive literature review on energy transition research in the context of financial development. We develop a “Financial Functions-Energy Transition Dynamics” analytical framework to comprehensively examine the theoretical and empirical evidence regarding the relationship between financial development (covering both traditional finance and emerging finance) and energy transition. The understanding of financial development’s impact on energy transition has progressed from linear to nonlinear perspectives. Early research identified a simple linear promoting effect, whereas current studies reveal distinctly nonlinear and multidimensional effects, dynamically driven by three fundamental factors: economy, technology, and resources. Emerging finance has become a crucial driver of transition through technological innovation, risk diversification, and improved capital allocation efficiency. Notable disagreements persist in the existing literature on conceptual frameworks, measurement approaches, and empirical findings. By synthesizing cutting-edge empirical evidence, we identify three critical future research directions: (1) dynamic coupling mechanisms, (2) heterogeneity of financial instruments, and (3) stage-dependent evolutionary pathways. Our study provides a theoretical foundation for understanding the complex finance-energy transition relationship and informs policy-making and interdisciplinary research. Full article

For a long time, the explanation of the various determinants of oil price fluctuations and their impact on economic activity has been based on the supply and demand mechanism. However, with various volatile changes in the international situation in recent years, such as threats to public health and an increase in regional conflicts, special attention has been paid to the geopolitical context as an additional driver of oil price fluctuations. This study examines the relationship between oil price changes and GDP growth and other macroeconomic variables from the perspective of the vulnerability of oil-importing and oil-exporting countries to unexpected oil price shocks, driven by tense geopolitical events, in three European countries (Norway, Germany, and Poland). We apply the Structural Vector Autoregressive (SVAR) model and orthogonalized impulse response functions, based on quarterly data, in regard to two samples: the first spans 1995Q1–2019Q4 (pre-2020 sample), with relatively gradual changes in oil prices, and the second spans 1995Q1–2024Q2 (whole sample), with sudden fluctuations in oil prices due to geopolitical developments. A key finding of this research is that vulnerability to unpredictable oil price shocks related to geopolitical tensions is higher than in regard to expected gradual changes in oil prices, both in oil-importing and oil-exporting countries. Different causality patterns and stronger responses in regard to GDP growth during the period, including in regard to tense geopolitical events in comparison to the pre-2020 sample, lead to the belief that economies are not more resilient to oil price shocks as has been suggested by some studies, which referred to periods that were not driven by geopolitical events. Our research also suggests that countries implementing policies to reduce oil dependency and promote investment in alternative energy sources are better equipped to mitigate the adverse effects of oil price shocks. Full article

In recent years, growing concerns over environmental degradation and deepening awareness of the necessity of sustainable development have propelled green and low-carbon energy transition into a focal issue for both academia and policymakers. By decomposing energy transition into the transformation of energy structure and the upgrading of energy efficiency, this study investigates the impact and mechanisms of green finance on energy transition across 30 provinces (municipalities and autonomous regions) in China, with the exception of Tibet. In addition, the impact of climate change is incorporated into the analytical framework. Empirical results demonstrate that green finance development significantly accelerates energy transition, a conclusion robust to rigorous validation. Analysis of the mechanism shows that green finance promotes energy transition through the facilitation of technological innovation and the upgrade of industrial structures. Moreover, empirical evidence reveals that climate change undermines the promotional influence of sustainable finance on energy system transformation. The magnitude of this suppression varies nonlinearly across provincial jurisdictions with differing energy transition progress. Regional heterogeneity analyses further uncover marked discrepancies in climate–finance interactions, demonstrating amplified effects in coastal economic hubs, underdeveloped western provinces, and regions with mature eco-financial markets. According to these findings, actionable policy suggestions are put forward to strengthen green finance and accelerate energy transition. Full article

Wind power has gained attention as a vital renewable energy source capable of reducing emissions and serving as an effective alternative to fossil fuels. Floating wind farms could significantly enhance the energy capacities of Mediterranean countries. However, location selection for offshore wind farms (OWFs) is a challenge for renewable energy policy and marine spatial planning (MSP). To address these issues, this study considers the marine space of Greece to propose a GIS-based multi-criteria decision-making (MCDM) framework employing the Analytic Hierarchy Process (AHP) to identify suitable sites for OWFs. The approach assesses 19 exclusion criteria encompassing legislative, environmental, safety, and technical constraints to determine the eligible areas. Subsequently, 10 evaluation criteria are weighted to determine the selected areas’ level of suitability. The study considers baseline conditions (1981–2010) and future climate scenarios based on RCP 4.5 and RCP 8.5 for two horizons (2011–2040 and 2041–2070), integrating projected wind velocities and sea level rise to evaluate potential shifts in suitable areas. Results indicate the central and southeastern Aegean Sea as the most suitable areas for OWF deployment. Climate projections indicate a modest increase in suitable areas. The findings serve as input for climate-resilient MSP seeking to promote sustainable energy development. Full article

The green renovation of existing residential buildings is a key way for the construction industry to achieve sustainable development and the dual carbon goals of China, which makes it urgent to make collaborative decisions among multiple stakeholders. However, because of divergent interests and risk perceptions among governments, energy service companies (ESCOs), and owners, the implementation of green renovation is hindered by numerous obstacles. In this study, we integrated prospect theory and evolutionary game theory by incorporating core prospect-theory parameters such as loss aversion and perceived value sensitivity, and developed a psychologically informed tripartite evolutionary game model. The objective was to provide a theoretical foundation and analytical framework for collaborative governance among stakeholders. Numerical simulations were conducted to validate the model’s effectiveness and explore how government regulation intensity, subsidy policies, market competition, and individual psychological factors influence the system’s evolutionary dynamics. The findings indicate that (1) government regulation and subsidy policies play central guiding roles in the early stages of green renovation, but the effectiveness has clear limitations; (2) ESCOs are most sensitive to policy incentives and market competition, and moderately increasing their risk costs can effectively deter opportunistic behavior associated with low-quality renovation; (3) owners’ willingness to participate is primarily influenced by expected returns and perceived renovation risks, while economic incentives alone have limited impact; and (4) the evolutionary outcomes are highly sensitive to parameters from prospect theory, The system’s evolutionary outcomes are highly sensitive to prospect theory parameters. High levels of loss aversion (λ) and loss sensitivity (β) tend to drive the system into a suboptimal equilibrium characterized by insufficient demand, while high gain sensitivity (α) serves as a key driving force for the system’s evolution toward the ideal equilibrium. This study offers theoretical support for optimizing green renovation policies for existing residential buildings in China and provides practical recommendations for improving market competition mechanisms, thereby promoting the healthy development of the green renovation market. Full article

As the penetration rate of new energy continues to increase, the active voltage support capability of the power system is decreasing. The grid-forming static var generator (GFM-SVG) features the advantages of fast dynamic response, strong reactive power support, and high overload capacity, which play an important role in maintaining voltage stability. However, the parameters of the GFM-SVG are often unknown due to trade secret reasons. Meanwhile, the parameters may be changed during the long-term operation of the system, which brings challenges to the system stability analysis and control. Aiming at this problem, a parameter identification method based on trajectory sensitivity analysis and the proximal policy optimization (PPO) algorithm is proposed in this paper. Firstly, through trajectory sensitivity analysis, the key influential parameters on the output characteristics of the GFM-SVG can be selected, which can reduce the dimensionality of the identification parameters and improve the identification efficiency. Then, a parameter identification framework based on the PPO algorithm is constructed for GFM-SVGs, which utilizes its adaptive learning capability to achieve accurate identification of the key parameters of the system. Finally, the effectiveness of the proposed parameter identification method is verified through simulation examples. The simulation results show that the identification error of the parameters in the GFM-SVG is small. The proposed method can characterize the output response of the GFM-SVG under different operating conditions. Full article

An important task for the European Union is to transpose agreements and international standards in regulation and directives that are binding on member states. The resultant European action plans and directives identify priority areas in the building and energy sectors where circular economy principles can be applied. Italy records a general circular materials rate of 20.8%, surpassing the mean European value. But low recycling rates are still registered in the construction sector. This paper aims to assess the position of Italy with respect to the European regulatory framework on circularity in the energy transition of buildings. Firstly, the government’s initiatives and technical standards are introduced and commented upon. Secondly, the study illustrates the current Italian platforms, networks, and public and private initiatives highlighting opportunities and obstacles that the energy sector has to overcome in the area of circularity. It emerges that Italian policies still use voluntary tools that are not sufficiently in line with an effective circular economy model. Moreover, data collection plays a crucial role in accelerating the implementation of future actions. Italy should consider the foundation of a National Observatory for the Circular Economy to elaborate European directives, harmonize regional policies, and promote the implementation of effective practices. Full article

Effective management of cascade reservoir systems is essential for balancing hydropower generation, flood control, and ecological sustainability, especially under increasingly uncertain runoff conditions driven by climate change. Traditional optimization methods, while widely used, often struggle with high dimensionality and fail to adequately address inflow variability. This study introduces a novel deep reinforcement learning (DRL) framework that tightly couples probabilistic runoff forecasting with adaptive reservoir scheduling. We integrate a Long Short-Term Memory (LSTM) neural network to model runoff uncertainty and generate probabilistic inflow forecasts, which are then embedded into a Proximal Policy Optimization (PPO) algorithm via Monte Carlo sampling. This unified forecast–optimize architecture allows for dynamic policy adjustment in response to stochastic hydrological conditions. A case study on China’s Xiluodu–Xiangjiaba cascade system demonstrates that the proposed LSTM-PPO framework achieves superior performance compared to traditional baselines, notably improving power output, storage utilization, and spillage reduction. The results highlight the method’s robustness and scalability, suggesting strong potential for supporting resilient water–energy nexus management under complex environmental uncertainty. Full article

The mining industry (MI) in mineral-rich regions is pivotal for economic growth but is challenged by significant pollution and emissions. This study examines Guangxi, a representative region in China, in light of the country’s “Dual Carbon” goals. We quantified carbon emissions from the MI from 2005 to 2021, employing the generalized Divisia index method (GDIM) to analyze the factors driving these emissions. Additionally, a system dynamics (SD) model was developed, integrating economic, demographic, energy, environmental, and policy variables to assess decarbonization strategies and the potential for carbon decoupling. The key findings include the following: (1) Carbon accounting analysis reveals a rising emission trend in Guangxi’s MI, predominantly driven by electricity consumption, with the non-ferrous metal mining sector contributing the largest share of total emissions. (2) The primary drivers of carbon emissions were identified as economic scale, population intensity, and energy intensity, with periodic fluctuations in sector-specific drivers necessitating coordinated policy adjustments. (3) Scenario analysis showed that the Emission Reduction Scenario (ERS) is the only approach that achieves a carbon peak before 2030, indicating that it is the most effective decarbonization pathway. (4) Between 2022 and 2035, carbon decoupling from total output value is projected to improve under both the Energy-Saving Scenario (ESS) and ERS, achieving strong decoupling, while the resource extraction shows limited decoupling effects often displaying an expansionary connection. This study aims to enhance the understanding and promote the advancement of green and low-carbon development within the MI in mineral-rich regions. Full article

Digestate valorization is essential for sustainable waste management and circular economy strategies, yet large-scale adoption faces technical, economic, and environmental challenges. Beyond waste-to-energy conversion, digestate is a valuable soil amendment, enhancing soil structure and reducing reliance on synthetic fertilizers. However, its agronomic benefits depend on feedstock characteristics, treatment processes, and application methods. This study reviews digestate composition, treatment technologies, regulatory frameworks, and environmental impact assessment through Life Cycle Assessment. It analyzes the influence of functional unit selection and system boundary definitions on Life Cycle Assessment outcomes and the effects of feedstock selection, pretreatment, and post-processing on its environmental footprint and fertilization efficiency. A review of 28 JCR-indexed articles (2018–present) analyzed LCA studies on digestate, focusing on methodologies, system boundaries, and impact categories. The findings indicate that Life Cycle Assessment methodologies vary widely, complicating direct comparisons. Transportation distances, nutrient stability, and post-processing strategies significantly impact greenhouse gas emissions and nutrient retention efficiency. Techniques like solid–liquid separation and composting enhance digestate stability and agronomic performance. Digestate remains a promising alternative to synthetic fertilizers despite market uncertainty and regulatory inconsistencies. Standardized Life Cycle Assessment methodologies and policy incentives are needed to promote its adoption as a sustainable soil amendment within circular economy frameworks. Full article

In the context of global climate governance and the green transition, digital infrastructure serves as a critical enabler of resource allocation in the digital economy, offering strategic value in tackling synergistic pollution and carbon reduction challenges. Using panel data from 280 prefecture-level cities, this study employs a multiperiod difference-in-differences (DID) approach, leveraging smart city pilot policies as a quasinatural experiment, to assess how digital infrastructure affects urban synergistic pollution-carbon mitigation (SPCM). The empirical results show that digital infrastructure increases the urban SPCM index by 1.5%, indicating statistically significant effects. Compared with energy and income effects, digital infrastructure can influence this synergistic effect through indirect channels such as the energy effect, economic agglomeration effect, and income effect, with the economic agglomeration effect accounting for a larger share of the total effect. Additionally, fixed-asset investment has a nonlinear moderating effect on this relationship, with diminishing marginal returns on emission reduction when investment exceeds a threshold. Heterogeneity tests reveal greater impacts in eastern, nonresource-based, and environmentally regulated cities. This study expands the theory of collaborative environmental governance from the perspective of new infrastructure, providing a theoretical foundation for establishing a long-term digital technology-driven mechanism for SPCM. Full article

This study empirically evaluates the energy and carbon reduction effects of an envelope retrofit applied to an aging public building in South Korea. Unlike previous studies that primarily relied on simulation-based analyses, this work fills the empirical research gap by using actual utility billing data collected over one pre-retrofit year (2019) and two post-retrofit years (2023–2024). The retrofit included improvements to exterior walls, roofs, and windows, aiming to enhance thermal insulation and airtightness. The analysis revealed that monthly electricity consumption was reduced by 14.7% in 2023 and 8.0% in 2024 compared to that in the baseline year, with corresponding decreases in electricity costs and carbon dioxide emissions. Seasonal variations were evident: energy savings were significant in the winter due to reduced heating demand, while cooling energy use slightly increased in the summer, likely due to diminished solar heat gains resulting from improved insulation. By addressing both heating and cooling impacts, this study offers practical insights into the trade-offs of envelope retrofitting. The findings contribute to the body of knowledge by demonstrating the real-world performance of retrofit technologies and providing data-driven evidence that can inform policies and strategies for improving energy efficiency in public buildings. Full article

The sustainable development of Chinese cities is of long-term significance. Multiple environmental regulatory instruments aim to promote the parallel advancement of environmental conservation and economic growth. This study examines three batches of low-carbon city pilot (LCCP) programs, employing eco-efficiency as the outcome variable. Using conventional difference-in-differences (DID) models, time-varying DID models, and period-by-period propensity score matching DID (PSM-DID) models with city and time fixed effects, we investigate the comprehensive impact of pilot policies on both economic and environmental performance. Eco-efficiency, measured through the Data Envelopment Analysis (DEA) model, exhibits a strong correlation with energy consumption patterns, as carbon emissions and air pollutants predominantly originate from non-clean energy utilization. The analysis reveals that LCCP policies significantly enhance eco-efficiency. These findings demonstrate robustness across placebo tests, endogeneity treatments, and alternative outcome variable specifications. The first and third LCCP batches significantly improve eco-efficiency, whereas the second batch demonstrates no statistically significant effect. Significant impacts emerge in regions where cities hold pilot status while provinces do not; conversely, regions where both cities and provinces participate in pilot programs show no significant effects. Finally, from an energy consumption perspective, policy recommendations are proposed to further enhance eco-efficiency through regulatory instruments. Full article

This paper examines the changing role of emissions trading systems (ETSs) within the macro-financial framework of energy markets, emphasizing price dynamics and systemic spillovers. Utilizing monthly data from seven ETS jurisdictions spanning January 2021 to December 2024 (N = 287 observations after log transformation and first differencing), which includes four auction-based markets (United States, Canada, United Kingdom, South Korea), two secondary markets (China, New Zealand), and a government-set fixed-price scheme (Germany), this research estimates a panel vector autoregression (PVAR) employing a Common Correlated Effects (CCE) model and augments it with machine learning analysis utilizing XGBoost and explainable AI methodologies. The PVAR-CEE reveals numerous unexpected findings related to carbon markets: ETS returns exhibit persistence with an autoregressive coefficient of −0.137 after a four-month lag, while increasing inflation results in rising ETS after the same period. Furthermore, ETSs generate spillover effects in the real economy, as elevated ETSs today forecast a 0.125-point reduction in unemployment one month later and a 0.0173 increase in inflation after two months. Impulse response analysis indicates that exogenous shocks, including Brent oil prices, policy uncertainty, and financial volatility, are swiftly assimilated by ETS pricing, with effects dissipating completely within three to eight months. XGBoost models ascertain that policy uncertainty and Brent oil prices are the most significant predictors of one-month-ahead ETSs, whereas ESG factors are relevant only beyond certain thresholds and in conditions of low policy uncertainty. These findings establish ETS markets as dynamic transmitters of macroeconomic signals, influencing energy management, labor changes, and sustainable finance under carbon pricing frameworks. Full article