During the past decades, environmental related taxes, energy, and carbon taxes has been recommended by environmental scientists as a policy tool to mitigate pollutant emissions in developed and developing economies. Among developed nations, Denmark, Finland, Sweden, the Netherlands, and Norway were the first regions to adopt a tax on carbon dioxide (CO2) emissions and research into the impacts of carbon tax on carbon emissions bring significant implications. The prime objective and goal of this work is to explore the role of carbon tax reforms for environmental quality in European economies. This is probably the first study to conduct a comparative study in European context for carbon-tax implementation and non-implementation policies. To this end, the present study reports new conclusions and implications regarding the effectiveness of environmental regulations and policies for climate change and sustainability. In the present study, the authors exhaustively explore the impacts of the carbon-tax on the mitigation of CO2 emissions. Using the propensity score matching method, the results of the estimation of the different matching methods allow us to observe a positive and significant impact of the adoption of the carbon-tax on stimulating the reduction of carbon emissions.

The current decade has witnessed the rise of empirical research in the domain of ecological footprint which has become a major scholarly area among environmental researchers. However, many key factors determining ecological footprint have been inadequately dealt within the existing body of knowledge. The current research aims to explore the association between economic complexity, human capital, renewable energy generation, urbanization, economic growth, export quality, trade and ecological footprint for the top ten economic complex countries. This study applied panel data estimators, for instance, fully modified ordinary least squares (FMOLS), dynamic ordinary least squares (DOLS) and the system-GMM long-run estimators from 1980 to 2017. The long-run estimates reveal that economic complexity, economic growth, export quality, trade and urbanization increase ecological footprint. Human capital and renewable energy generation help to mitigate ecological footprint. We conclude that investment in more renewable energy generation and its consumption and efficient use of human capital will improve economic complexity, export quality, and environment in developed and developing countries.

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