Globalization and GHG Emissions in the EU: Do We Need a New Development Paradigm?

Abstract

The European Union (EU) has adopted a new development strategy based on “green” growth and announced carbon neutrality by 2050. Still, the EU’s previous development path was mainly based on trade openness and globalization, with positive economic and negative climate impacts. The aim of this paper was to test the hypothesis of globalization-induced carbon emissions in order to evaluate a possible future development path. The Arellano–Bond estimator was employed for dynamic panel analysis in 26 EU countries over the period 2000–2018. A significant and positive relationship was found between economic globalization and passenger mobility and greenhouse gas (GHG) emissions, while environmental taxes can correct the negative climate effect. On the other hand, social and political dimensions of globalization reduce negative climate impacts. To achieve net zero emissions, the EU needs to continue its global climate leadership, extend the use of environmental taxes, and stimulate economic growth based on low-carbon technologies such as hydrogen, energy storage, and CCUS.

A better understanding of the role of new energy and green finance to help achieve carbon neutrality goals, with special reference to China

“…26 In 2019, 56% of the new large-scale installed capacity of new energy generation coming online could be achieved at a cost lower than the cheapest fossil fuel generation. 24 From 2010 to 2019, photovoltaic power generation will increase from 32 billion kw-h to 699 billion kw-h, an annual increase of 240%; wind power generation will increase from 342 billion kw-h to 1404 billion kw-h, an annual increase of 45%. 31 New energy: leading the way in the carbon neutral process From the perspective of energy production and consumption structure, world energy has formed a pattern of coal, oil, gas and new energy.…”

“…21,22 Therefore, it is of great scientific and practical value to understand and play the role of new energy in the process of carbon neutrality compared to fossil energy. 23,24 What type of new energy is involved in this question? What is the role of new energy in the energy transition?…”

Rethinking an Approach for Sustainable Globalization

“…Globalization, evaluated in terms of KOFGI, has been shown to increase greenhouse gases (GHG) emission in European Union [24] and Japan [25]. On the other hand, globalization has been found to reduce GHG emission in emerging economies such as Brazil, Russia, India, China, Mexico, Indonesia, and Turkey [26,27] showing some evidence for Environmental Kuznets Curve (EKC) hypothesis.…”

İklim Değişikliğinin Ekonomik Küreselleşme ve DYSY’ler İle Olan İlişkisinin İncelenmesi: NIC Ülkeleri Örneği

“…Ancak, yapılan araştırmalar incelendiğinde küreselleşme ile çevre ilişkisinin açık olmadığını göstermektedir. Zira kimi araştırmalar küreselleşmenin çevresel sorunları daha da arttırdığını gösterirken (Kalaycı & Hayaloğlu (2019); Lenz & Fajdeti´c (2021)), bir kısım çalışmalara göre küreselleşmenin artması çevresel bozulmayı iyileştirmektedir (Liu vd. (2020); Farooq vd.…”

“…Panel regresyon analizi sonuçları teknolojik inovasyon ve CO2 emisyonları arasında negatif yönlü olduğu göstermiştir. Ayrıca, küreselleşmenin OBOR ve Güney Asya bölgesindeki CO2 emisyonları ile önemli ölçüde pozitif ilişki gösterdiği tespit edilmiştir Lenz & Fajdeti´c (2021),. 2000-2018 döneminde 25 AB ülkesinde sera gazı emisyonları ve küreselleşme ilişkisini incelemiştir.…”