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27 pages, 1998 KB  
Article
Identifying the Impact of Green Fiscal Policy on Urban Carbon Emissions: New Insights from the Energy Saving and Emission Reduction Pilot Policy in China
by Jianzhe Luo, Xianpu Xu and Lei Liu
Sustainability 2025, 17(17), 7632; https://doi.org/10.3390/su17177632 - 24 Aug 2025
Abstract
Urban carbon reduction is instrumental in enabling cities to realize their developmental sustainability objectives. However, regional disparities in economic development pose significant challenges to low-carbon transitions. This study utilizes panel data from 282 cities in China spanning 2006–2021, considering the energy saving and [...] Read more.
Urban carbon reduction is instrumental in enabling cities to realize their developmental sustainability objectives. However, regional disparities in economic development pose significant challenges to low-carbon transitions. This study utilizes panel data from 282 cities in China spanning 2006–2021, considering the energy saving and emission reduction (ESER) fiscal policy as an external shock. Using a multi-period difference-in-differences approach, we assess how ESER impacts urban carbon emissions. Our findings indicate that ESER significantly reduces municipal carbon emissions by an average of 23.3% compared to non-pilot cities. Mechanism analyses suggest that this effect operates through reduced energy consumption, improved industrial structure, and enhanced green innovation. ESER’s impact exhibits heterogeneity across cities with different levels of economic development, population size, innovation capacity, and industrial composition. Moreover, we find evidence of spatial spillover effects, as ESER benefits extend to neighboring regions. These results confirm the effectiveness of ESER in promoting low-carbon development and offer practical implications for enhancing environmental governance through green fiscal instruments. Full article
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31 pages, 2379 KB  
Article
Does the New-Type Urbanization Policy Help Reduce PM2.5 Pollution? Evidence from Chinese Counties
by Yue Wang, Sihan Chen, Zhicheng Zhou and Shen Zhong
Sustainability 2025, 17(17), 7585; https://doi.org/10.3390/su17177585 - 22 Aug 2025
Viewed by 251
Abstract
Traditional urbanization prioritizes economic growth but often degrades the environment, challenging SDGs 9 and 13. China’s New-Type Urbanization Policy (NTUP) balances economic expansion, energy conservation, and environmental protection. By applying the difference-in-differences (DID) method, this study examines the causal effect of NTUP on [...] Read more.
Traditional urbanization prioritizes economic growth but often degrades the environment, challenging SDGs 9 and 13. China’s New-Type Urbanization Policy (NTUP) balances economic expansion, energy conservation, and environmental protection. By applying the difference-in-differences (DID) method, this study examines the causal effect of NTUP on urban air quality, taking the full implementation of NTUP in 2014 and the designated pilot cities as the policy shock and treatment group, respectively. Furthermore, we explore the mediating roles of land use efficiency and innovation efficiency in this relationship. The results show the following: (1) NTUP significantly lowers urban PM2.5, robust to confounders and selection bias; (2) land use and innovation efficiency mediate this effect, verified by Sobel and Bootstrap tests; and (3) policy effectiveness varies by city level, industrial base, and economic structure. These findings highlight NTUP’s environmental benefits and inform sustainable urbanization strategies globally. Full article
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23 pages, 611 KB  
Article
Assessing the Impact of the Digital Economy on Carbon Emission Reduction: A Test of the Mediation Effect Based on Industrial Agglomeration
by Yuanlong Mao, Wenjing Dai, Yang Yang, Qiaoxia Liang and Zichao Wei
Sustainability 2025, 17(16), 7472; https://doi.org/10.3390/su17167472 - 19 Aug 2025
Viewed by 362
Abstract
As a pivotal engine of global economic growth, the digital economy provides nations with new momentum to achieve carbon neutrality. By driving inter-industry mobility and reallocation of production factors, the digital economy alters industrial agglomeration patterns, which ultimately influence carbon emissions. Understanding the [...] Read more.
As a pivotal engine of global economic growth, the digital economy provides nations with new momentum to achieve carbon neutrality. By driving inter-industry mobility and reallocation of production factors, the digital economy alters industrial agglomeration patterns, which ultimately influence carbon emissions. Understanding the intrinsic mechanisms through which the digital economy affects carbon emissions is therefore critical for both theoretical and practical significance in advancing green and low-carbon development. This study employs panel data from 278 Chinese cities (2011–2020) to investigate the mechanism by which the digital economy affects urban carbon emissions from the perspective of industrial agglomeration. Our findings indicate that the development of the digital economy significantly reduces urban carbon emissions; a one-percentage-point increase in digital economy development leads to a 0.091% decline in carbon emission intensity. Contrary to conventional expectations, however, higher levels of industrial agglomeration do not contribute to carbon reduction. Mediation analysis reveals that the digital economy enhances industrial agglomeration, which in turn weakens its direct carbon mitigation effect by approximately 6%. Furthermore, the impact varies across regions, city sizes, and industry sectors. These insights offer valuable policy implications for China’s digital transformation, industrial agglomeration optimization, and energy-saving strategies to achieve its dual carbon goals. Full article
(This article belongs to the Section Economic and Business Aspects of Sustainability)
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35 pages, 1909 KB  
Article
Forging Resilient Urban Ecosystems: The Role of Energy Structure Transformation Under China’s New Energy Demonstration City Pilot Policy
by Mo Li, Ming Yang, Nan Xia, Sixiang Cai, Yuan Tian and Chengming Li
Systems 2025, 13(8), 709; https://doi.org/10.3390/systems13080709 - 18 Aug 2025
Viewed by 213
Abstract
Against the background of global climate change and increasing ecological vulnerability, enhancing ecosystem resilience has become a core task for coping with environmental shocks and achieving sustainable development. The urban energy structure plays a critical role in influencing the green development of the [...] Read more.
Against the background of global climate change and increasing ecological vulnerability, enhancing ecosystem resilience has become a core task for coping with environmental shocks and achieving sustainable development. The urban energy structure plays a critical role in influencing the green development of the economy and the enhancement of environmental resilience. Existing studies have revealed the role of energy structure transformation in the identification of macroeconomic performance and environmental outcomes, but have neglected its impact on ecosystem resilience. This paper exploits the implementation of the New Energy Demonstration City pilot policy as a quasi-natural experiment. Using panel data of Chinese prefecture-level cities from 2010 to 2022, it constructs a multidimensional evaluation system of urban ecosystem resilience and employs a difference-in-differences (DID) model to empirically examine the impact of energy structure transformation on urban ecosystem resilience. It is found that energy structure transition significantly enhances urban ecosystem resilience, and this conclusion is verified through a series of robustness tests. Mechanism analysis shows that energy structure transformation comprehensively enhances urban ecosystem resilience through strengthening institutional regulation, optimizing resource allocation, promoting energy substitution, and enhancing public awareness. Heterogeneity analysis indicates that the strengthening effect of energy structure transition on urban ecosystem resilience is inclusive, and that this positive effect is greater in cities characterized by lower resource endowment and weaker governance capacity. This paper reveals the intrinsic mechanism of urban energy transition for ecological resilience enhancement, and provides an energy transition path for building more resilient urban ecosystems. Full article
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24 pages, 1733 KB  
Article
The Soft Fixed Route Hybrid Electric Aircraft Charging Problem with Variable Speed
by Anthony Deschênes, Raphaël Boudreault, Jonathan Gaudreault and Claude-Guy Quimper
World Electr. Veh. J. 2025, 16(8), 471; https://doi.org/10.3390/wevj16080471 - 18 Aug 2025
Viewed by 145
Abstract
The shift toward sustainable aviation has accelerated research into hybrid electric aircraft, particularly in the context of regional air mobility. To support this transition, we introduce the Soft Fixed Route Hybrid Electric Aircraft Charging Problem with Variable Speed (S-FRHACP-VS), a novel optimization problem [...] Read more.
The shift toward sustainable aviation has accelerated research into hybrid electric aircraft, particularly in the context of regional air mobility. To support this transition, we introduce the Soft Fixed Route Hybrid Electric Aircraft Charging Problem with Variable Speed (S-FRHACP-VS), a novel optimization problem for managing hybrid electric aircraft operations that considers variable speed. The objective is to minimize total costs by determining charging strategies, refueling decisions, hybridization ratios, and speed decisions while adhering to a soft schedule. This paper introduces an iterative variable-based fixation heuristic, named Iterative Two-Stage Mixed-Integer Programming Heuristic (ITS-MIP-H), that alternatively optimizes speed and hybridization ratios while considering the soft schedule constraints, nonlinear charging, and nonlinear energy consumption functions. In addition, a metaheuristic genetic algorithm is proposed as an alternative optimization approach. Experiments on ten realistic flight instances demonstrate that optimizing speed leads to an average cost reduction of 7.64% compared to the best non-speed-optimized model, with reductions of up to 18.64% compared to an all-fuel-based heuristic. Although genetic algorithm provides a viable alternative that performs better than the best non-speed-optimized model, the proposed iterative variable-based fixation heuristic approach consistently outperforms the metaheuristic, achieving the best solutions within seconds. These results provide new insights into the integration of hybrid electric aircraft within transportation networks, contributing to advancements in aircraft routing optimization, energy-efficient operations, and sustainable aviation policy development. Full article
(This article belongs to the Special Issue Electric and Hybrid Electric Aircraft Propulsion Systems)
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30 pages, 650 KB  
Article
The Impact of the Digital Economy on New Energy Vehicle Export Trade: Evidence from China
by Man Lu, Chang Lu, Wenhui Du and Chenggang Wang
Sustainability 2025, 17(16), 7423; https://doi.org/10.3390/su17167423 - 16 Aug 2025
Viewed by 465
Abstract
In the digital economy era, artificial intelligence, big data, and 5G are widely applied across various industries. The deep integration of digitalization and traditional sectors has been facilitated by this trend, which has injected new momentum into industrial development. In this context, this [...] Read more.
In the digital economy era, artificial intelligence, big data, and 5G are widely applied across various industries. The deep integration of digitalization and traditional sectors has been facilitated by this trend, which has injected new momentum into industrial development. In this context, this paper employs panel data from 29 Chinese provinces that span the years 2017 to 2023. This paper transcends the constraints of current research by integrating the digital economy with the export of new energy vehicles. Furthermore, this paper provides a regional analysis of this impact, thereby contributing to the existing literature. The following are the conclusions: (1) The export of new energy vehicles is substantially stimulated by the development of the digital economy. (2) Exports are indirectly facilitated by the digital economy, which promotes technological innovation and financial services. (3) The digital economy shows a significantly greater impact on the export of new energy vehicles in the eastern and inland areas than in other regions. Based on these discoveries, the paper suggests four critical policy recommendations: expanded openness, technological innovation, intelligent digital marketing, and government support. The objective is to foster the sustainable growth of China’s new energy vehicle export trade. This paper offers theoretical support for the sustainability of Chinese enterprises’ competitiveness in the international market. It also provides policymakers and industry stakeholders with practical advice. Full article
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23 pages, 666 KB  
Article
Can New Digital Infrastructure Promote Agricultural Carbon Reduction: Mechanisms and Impact Assessment
by Qiaoling Shi, Congyu Zhao, Gengchen Yao, Chuqiao Yang and Runfeng Yang
Sustainability 2025, 17(16), 7410; https://doi.org/10.3390/su17167410 - 15 Aug 2025
Viewed by 336
Abstract
The development of new digital infrastructure enables the construction of intelligent agricultural production systems, enhances agricultural sustainability, and supports the national “dual-carbon” goals. Based on a theoretical analysis and using panel data for 31 Chinese provinces during 2011–2023, this study constructs a two-way [...] Read more.
The development of new digital infrastructure enables the construction of intelligent agricultural production systems, enhances agricultural sustainability, and supports the national “dual-carbon” goals. Based on a theoretical analysis and using panel data for 31 Chinese provinces during 2011–2023, this study constructs a two-way fixed-effects model to empirically test the impact of new digital infrastructure on agricultural carbon emissions, and provides insights for differentiating provincial heterogeneity, as well as impact mechanism. The main findings are as follows: (1) New digital infrastructure is negatively correlated with agricultural carbon emissions, and this conclusion holds after a series of robustness and endogeneity tests. (2) Heterogeneity analysis reveals that, by geographic location, new digital infrastructure has a significant carbon reduction effect in eastern provinces but increases emissions in central provinces. By the digital development level, this study highlights the dual importance of digital infrastructure and financial supports. Contrary to those provinces leading in digital infrastructure development, there is a positive correlation in lagging areas. By policy support level, the significant carbon reduction effect is only observed in provinces with advanced digital-inclusive finance support. For green development policy support, it significantly reduces agricultural carbon emissions in pioneer regions but increases emissions in follower regions. (3) Mechanism tests indicate that new digital infrastructure promotes agricultural carbon reduction mainly through scale-economy effects and energy efficiency upgrading effects. Policy implications to improve agricultural digital infrastructure development and accelerate carbon emission reductions are finally suggested. Full article
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28 pages, 24311 KB  
Article
High-Resolution Siting of Utility-Scale Solar and Wind: Bridging Pixel-Level Costs and Regional Planning
by Cheng Cheng, Andrew Blakers, Timothy Weber, Kylie Catchpole and Anna Nadolny
Energies 2025, 18(16), 4361; https://doi.org/10.3390/en18164361 - 15 Aug 2025
Viewed by 427
Abstract
Achieving net zero relies on siting large-scale solar and wind where they are cheapest and most socially acceptable. We present a transferable, evidence-based siting framework and apply it to Australia. The landscape is divided into millions of 250 m pixels, each assigned an [...] Read more.
Achieving net zero relies on siting large-scale solar and wind where they are cheapest and most socially acceptable. We present a transferable, evidence-based siting framework and apply it to Australia. The landscape is divided into millions of 250 m pixels, each assigned an indicative cost based on resource quality, distance-weighted connection costs, and land use exclusions. Two bounding generation mix scenarios (high solar vs. high wind) stack the cheapest pixels until a fully electrified demand of 20 MWh per capita per year is met. Results are aggregated to all 547 Local Government Areas (LGAs) and 150 federal electorates and expressed as capital inflow, construction job-years, long-term jobs, and land-lease income. We find Class A solar (<50 AUD/MWh) is abundant nationwide except in Tasmania, while high-quality wind is concentrated in Victoria, Tasmania, and coastal Western Australia. Just 15% of LGAs, mainly within 100 km of the existing 275–500 kV transmission backbone, can host over half of least-cost capacity. A single top-ranked LGA such as Toowoomba (Queensland) could attract around AUD 33 billion in investment and sustain over 50,000 construction job-years. Mapping ten candidate high-voltage transmission corridors shows how new lines shift opportunities to under-served councils. The results bridge the gap between state-level renewable energy zones and fine-scale site suitability maps, with policy recommendations proposed. Because the workflow relies mainly on globally available datasets, it can be replicated in other countries to raise public awareness, align policy with community support, and accelerate clean-energy buildouts while maximising regional benefit. Full article
(This article belongs to the Section B: Energy and Environment)
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20 pages, 457 KB  
Review
Cultivating Value from Waste: Creating Novel Food, Feed, and Industrial Applications from Bambara Groundnut By-Products
by Mercy Lungaho, Omena Bernard Ojuederie, Kehinde Titilope Kareem, Kafilat Abiodun Odesola, Jacob Olagbenro Popoola, Linus Owalum Onawo, Francis Aibuedefe Igiebor, Anthonia Uselu, Taofeek Tope Adegboyega and Beckley Ikhajiagbe
Sustainability 2025, 17(16), 7378; https://doi.org/10.3390/su17167378 - 15 Aug 2025
Viewed by 399
Abstract
Bambara groundnut (Vigna subterranea), a vital yet underutilized African legume, significantly boosts food security due to its nutritional value and adaptability to harsh climates and soils. However, its processing yields substantial waste like husks, shells, and haulms, which are often carelessly [...] Read more.
Bambara groundnut (Vigna subterranea), a vital yet underutilized African legume, significantly boosts food security due to its nutritional value and adaptability to harsh climates and soils. However, its processing yields substantial waste like husks, shells, and haulms, which are often carelessly discarded, causing environmental damage. This paper highlights the urgent need to valorize these waste streams to unlock sustainable growth and economic development. Given their lignocellulosic composition, Bambara groundnut residues are ideal for generating biogas and bioethanol. Beyond energy, these wastes can be transformed into various bio-based products, including adsorbents for heavy metal removal, activated carbon for water purification, and bioplastics. Their inherent nutritional content also allows for the extraction of valuable components like dietary fiber, protein concentrates, and phenolic compounds for food products or animal feed. The nutrient-rich organic matter can also be composted into fertilizer, improving soil fertility. These valorization strategies offer multiple benefits, such as reduced waste, less environmental contamination, and lower greenhouse gas emissions, alongside new revenue streams for agricultural producers. This integrated approach aligns perfectly with circular economy principles, promoting resource efficiency and maximizing agricultural utility. Despite challenges like anti-nutritional factors and processing costs, strategic investments in technology, infrastructure, and supportive policies can unlock Bambara groundnut’s potential for sustainable innovation, job creation, and enhanced food system resilience across Africa and globally. Ultimately, valorizing Bambara groundnut waste presents a transformative opportunity for sustainable growth and improved food systems, particularly within African agriculture. Full article
(This article belongs to the Special Issue RETASTE: Rethink Food Resources, Losses and Waste)
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19 pages, 3018 KB  
Article
Research on the Spatiotemporal Patterns of New Energy Vehicle Promotion Level in China
by Yanmei Wang, Fanlong Zeng and Mingke He
World Electr. Veh. J. 2025, 16(8), 456; https://doi.org/10.3390/wevj16080456 - 11 Aug 2025
Viewed by 264
Abstract
Exploring the regional disparities in and spatiotemporal evolution of the new energy vehicle promotion level (NEVPL) is essential for facilitating low-carbon and environmentally sustainable development. This study employs a multidimensional index system to assess the NEVPL across 31 Chinese provinces from 2017 to [...] Read more.
Exploring the regional disparities in and spatiotemporal evolution of the new energy vehicle promotion level (NEVPL) is essential for facilitating low-carbon and environmentally sustainable development. This study employs a multidimensional index system to assess the NEVPL across 31 Chinese provinces from 2017 to 2023, utilizing data on NEV ownership, annual NEV sales, the number of public charging piles, and the vehicle-to-pile ratio. The NEVPL scores were estimated using the Entropy-TOPSIS method. Spatial patterns and the mechanisms of regional disparities were examined using a suite of spatial analytical techniques, including the standard deviation ellipse (SDE), gravity center analysis, Dagum Gini coefficient decomposition, and kernel density estimation. The results reveal three principal findings. First, NEVPL exhibited a sustained upward trend nationwide. The eastern region consistently maintained a leading position, the central and western regions demonstrated steady growth, and the northeastern region remained underdeveloped, leading to an expanding regional gap. Second, spatial distribution transitioned from an early dispersed pattern to a structure characterized by both agglomeration and differentiation. The promotional center gradually shifted toward the southeast, and high-value regions became increasingly isolated, forming island-like clusters. Third, spatial inequality was mainly driven by inter-regional differences, which contributed to over 70 percent of the total variance. The rising intra-regional disparity within the eastern region emerged as the predominant factor widening the national gap. These findings offer empirical evidence to support the refinement of new energy vehicle (NEV) policy frameworks and the promotion of balanced regional development. Full article
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33 pages, 6586 KB  
Article
Pricing Strategy for Sustainable Recycling of Power Batteries Considering Recycling Competition Under the Reward–Penalty Mechanism
by Hairui Wei and Ziming Qi
Sustainability 2025, 17(16), 7224; https://doi.org/10.3390/su17167224 - 10 Aug 2025
Viewed by 398
Abstract
With the large-scale power batteries approaching their retirement phase, efforts are being made to advance the recycling and cascade utilization of power batteries for electric vehicles (EVs). This paper constructs a closed-loop supply chain (CLSC) of power batteries led by the battery manufacturer [...] Read more.
With the large-scale power batteries approaching their retirement phase, efforts are being made to advance the recycling and cascade utilization of power batteries for electric vehicles (EVs). This paper constructs a closed-loop supply chain (CLSC) of power batteries led by the battery manufacturer (BM) and composed of the electric vehicle manufacturer (EVM) and third-party recycler (TPR). The study investigates the optimal pricing strategies of this CLSC with the consideration of recycling competition under the government’s reward–penalty mechanism. This paper establishes five recycling modes, namely independent recycling and cooperative recycling, under dual-channel recycling, and further discusses the effects of the government reward–penalty mechanism and recycling competition on the recycling rate, profits, and recycling pricing of the CLSC in each recycling mode. The following conclusions are found: (1) An increase in the reward–penalty intensity will increase the recycling rate, sales price of EVs, wholesale price, transfer price, recycling price, and the profit of each recycler in the CLSC. (2) An increase in the recycling competition will result in the reduction of the profit of each enterprise, and will also lead to the reduction of the recycling rate. (3) Cooperation between enterprises can inhibit the recycling volume of other enterprises to a certain extent. The cooperation between the EVM and BM can increase the recycling volume and the sales volume of EVs. (4) The leadership of the BM in the supply chain is embodied in the recycling and profit. For other members of the supply chain, it is very important to strive for cooperation with the leaders in the supply chain. These research conclusions can provide theoretical support for optimizing the power battery recycling system, formulating relevant policies, and improving the efficiency of resource recycling, thereby promoting the sustainable development of the new energy industry. Full article
(This article belongs to the Topic Digital Technologies in Supply Chain Risk Management)
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28 pages, 2511 KB  
Article
Research on the Sustainable Spatio-Temporal Evolution and Driving Factors of Global Transportation Carbon Emissions: Evidence from a Panel of 140 Countries, 1971–2018
by Xiaofeng Lin, Ziran Jiang, Jinping Pang and Chunfang Pi
Sustainability 2025, 17(16), 7175; https://doi.org/10.3390/su17167175 - 8 Aug 2025
Viewed by 276
Abstract
The rapid development of the global transportation industry has led to increased carbon dioxide emissions, intensifying the pressure to reduce these emissions. On the basis of constructing a global carbon emission analysis framework for the transportation industry, this study used panel data on [...] Read more.
The rapid development of the global transportation industry has led to increased carbon dioxide emissions, intensifying the pressure to reduce these emissions. On the basis of constructing a global carbon emission analysis framework for the transportation industry, this study used panel data on carbon emissions from the transportation industry in 140 countries or regions for a long-term time series from 1971 to 2018. The standard deviation ellipse, Gini coefficient, and Moran’s I index were used to characterize the spatial patterns of carbon emissions in the global transportation industry. The factors influencing carbon emissions from the global transportation industry were analyzed using quantile regression. The main findings are as follows: (1) From the distribution pattern, the total carbon emissions from the global transportation industry showed a significant upward trend, and the spatial polarization characteristics were particularly significant. (2) The Gini coefficient of global carbon emissions from the transportation industry showed a significant downward trend, characterizing a more balanced spatial distribution. (3) From the perspective of correlation patterns, the spatial distribution of carbon emissions from the global transportation industry was positively correlated. (4) Regarding influencing factors, population size had a significant role in promoting carbon emissions from the transportation industry, and the difference was not apparent. The influence of affluence on carbon emissions was basically in line with the characteristics of the Kuznets curve, technological advances had a significant negative influence on carbon emissions, and participation in the global value chain had a significant influence on carbon emissions from countries or regions with high carbon emissions. In conclusion, it is necessary to enhance international cooperation on carbon emission management in the global transportation industry and adopt differentiated policy measures. For instance, we should accelerate the construction of a multimodal transport system, increase the promotion and support for new energy heavy-duty trucks, implement policies such as priority road rights for new energy heavy-duty trucks and reduce tolls on expressways, and deepen the integration of transportation and energy. Full article
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31 pages, 2101 KB  
Article
Exploring Imperatives in Generation Z’s Approach to the Future of the Environment
by Piotr Daniluk, Radoslaw Wisniewski, Aneta Nowakowska-Krystman, Tomasz Kownacki and Dawid Wiśniewski
Sustainability 2025, 17(15), 7169; https://doi.org/10.3390/su17157169 - 7 Aug 2025
Viewed by 397
Abstract
Environmental protection is one of the key challenges facing mankind today. Finding out what young people, referred to as Generation Z, think about this issue is extremely important, as they will be the first to experience the negative effects of environmental degradation. Research [...] Read more.
Environmental protection is one of the key challenges facing mankind today. Finding out what young people, referred to as Generation Z, think about this issue is extremely important, as they will be the first to experience the negative effects of environmental degradation. Research has shown that Generation Z has the greatest hope for solutions from the technological sphere. Thus, the economic and political spheres should support the development of technology in this area. The social sphere is rated lowest, which may reflect young people’s personal withdrawal and the delegation of responsibility for the environment’s future to engineers, entrepreneurs, and politicians. It is equally important to learn what constitutes an environmental imperative for Generation Z. It is based on new energy sources, energy producers, and the state’s pursuit of a policy of international cooperation in this area, supported by national legislative activity toward entrepreneurs and citizens. Research has demonstrated the need to raise awareness among young people, with a focus on individuals treated as subjects in their interaction with modern technology. Full article
(This article belongs to the Section Social Ecology and Sustainability)
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23 pages, 3036 KB  
Article
Research on the Synergistic Mechanism Design of Electricity-CET-TGC Markets and Transaction Strategies for Multiple Entities
by Zhenjiang Shi, Mengmeng Zhang, Lei An, Yan Lu, Daoshun Zha, Lili Liu and Tiantian Feng
Sustainability 2025, 17(15), 7130; https://doi.org/10.3390/su17157130 - 6 Aug 2025
Viewed by 315
Abstract
In the context of the global response to climate change and the active promotion of energy transformation, a number of low-carbon policies coupled with the development of synergies to help power system transformation is an important initiative. However, the insufficient articulation of the [...] Read more.
In the context of the global response to climate change and the active promotion of energy transformation, a number of low-carbon policies coupled with the development of synergies to help power system transformation is an important initiative. However, the insufficient articulation of the green power market, tradable green certificate (TGC) market, and carbon emission trading (CET) mechanism, and the ambiguous policy boundaries affect the trading decisions made by its market participants. Therefore, this paper systematically analyses the composition of the main players in the electricity-CET-TGC markets and their relationship with each other, and designs the synergistic mechanism of the electricity-CET-TGC markets, based on which, it constructs the optimal profit model of the thermal power plant operators, renewable energy manufacturers, power grid enterprises, power users and load aggregators under the electricity-CET-TGC markets synergy, and analyses the behavioural decision-making of the main players in the electricity-CET-TGC markets as well as the electric power system to optimise the trading strategy of each player. The results of the study show that: (1) The synergistic mechanism of electricity-CET-TGC markets can increase the proportion of green power grid-connected in the new type of power system. (2) In the selection of different environmental rights and benefits products, the direct participation of green power in the market-oriented trading is the main way, followed by applying for conversion of green power into China certified emission reduction (CCER). (3) The development of independent energy storage technology can produce greater economic and environmental benefits. This study provides policy support to promote the synergistic development of the electricity-CET-TGC markets and assist the low-carbon transformation of the power industry. Full article
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19 pages, 790 KB  
Article
How Does the Power Generation Mix Affect the Market Value of US Energy Companies?
by Silvia Bressan
J. Risk Financial Manag. 2025, 18(8), 437; https://doi.org/10.3390/jrfm18080437 - 6 Aug 2025
Viewed by 360
Abstract
To remain competitive in the decarbonization process of the economy worldwide, energy companies must preserve their market value to attract new investors and remain resilient throughout the transition to net zero. This article examines the market value of US energy companies during the [...] Read more.
To remain competitive in the decarbonization process of the economy worldwide, energy companies must preserve their market value to attract new investors and remain resilient throughout the transition to net zero. This article examines the market value of US energy companies during the period 2012–2024 in relation to their power generation mix. Panel regression analyses reveal that Tobin’s q and price-to-book ratios increase significantly for solar and wind power, while they experience moderate increases for natural gas power. In contrast, Tobin’s q and price-to-book ratios decline for nuclear and coal power. Furthermore, accounting-based profitability, measured by the return on assets (ROA), does not show significant variation with any type of power generation. The findings suggest that market investors prefer solar, wind, and natural gas power generation, thereby attributing greater value (that is, demanding lower risk compensation) to green companies compared to traditional ones. These insights provide guidance to executives, investors, and policy makers on how the power generation mix can influence strategic decisions in the energy sector. Full article
(This article belongs to the Special Issue Linkage Between Energy and Financial Markets)
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