Navigating environmental concerns: Unveiling the role of economic growth, trade, resources and institutional quality on greenhouse gas emissions in OECD countries

Wahab, Salman; Imran, Muhammad; Ahmed, Bilal; Rahim, Syed; Hassan, Taimoor

doi:10.1016/j.jclepro.2023.139851

Cited by 32 publications

(5 citation statements)

References 60 publications

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“…Liao et al 61 confirmed this finding by pointing out that a higher investment to GDP ratio is significantly related to the growth rate of energy consumption, with the average size effect being 0.08. To reverse this trend of declining GDP and escalating greenhouse gas levels, the region must focus on diversifying its energy mix and transitioning away from coal 75 . Structural change becomes imperative for the successful decarbonization of the regional economy 75 .…”

Section: Resultsmentioning

confidence: 99%

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Examining public private partnership investment in energy towards achieving sustainable development goal 7 for ASEAN region

Hossin,

Alemzero,

Abudu

et al. 2024

Sci Rep

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The gradual progress in aligning financial flows with the adoption of clean technologies reveals a persistent funding gap, signaling a global misallocation of capital. Addressing this challenge necessitates political leadership and robust policies to counteract the insecurities impeding the redirection of financial flows. This study investigates into the impact of energy-related public–private partnership investments (PPPIE) and macro-environmental variables on the attainment of Sustainable Development Goal 7 (SDG7) across Association of Southeast Asian Nations (ASEAN) member countries from 1999 to 2021. Employing the Dynamac command technique, we conduct autoregressive distribution lag analysis and the Bounds Cointegration Test to evaluate ASEAN’s efforts in achieving SDG7. Results indicate that a ten-year exogenous shock to the GDP growth rate initially causes a temporary decline in both GDP and PPPIE, albeit not statistically significant. However, in the long run, the shock becomes statistically significant, correlating with a negative decline in the GDP growth rate. This underscores the negative impact of external factors like the COVID-19 pandemic on the economic growth of ASEAN member countries. Specifically, a percentage increase in PPPIE leads to an 8.3% reduction in the GDP growth rate, revealing a detrimental and unsustainable impact on the economy. This signifies that energy investments in the ASEAN region, are predominantly unsustainable and adversely impact economic growth. Moreover, these energy investments contribute to a significant 52.6% increase in greenhouse gas emissions, indicating a substantial setback in the region’s progress towards meeting SDG7’s clean energy objectives by 2030. This suggests the present state of PPPIE does not align with sustainable clean energy goals of the region. Therefore, recommendations should include diversifying energy sources and investment strategies to enhance sustainable clean energy. Also, policymakers and researchers should reassess the terms and conditions of PPPIE, refining frameworks for private sector involvement to align with long-term economic sustainability goals.

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Section: Resultsmentioning

confidence: 99%

“…To reverse this trend of declining GDP and escalating greenhouse gas levels, the region must focus on diversifying its energy mix and transitioning away from coal 75 . Structural change becomes imperative for the successful decarbonization of the regional economy 75 .…”

Section: Resultsmentioning

confidence: 99%

Examining public private partnership investment in energy towards achieving sustainable development goal 7 for ASEAN region

Hossin,

Alemzero,

Abudu

et al. 2024

Sci Rep

View full text Add to dashboard Cite

show abstract

“…International trade facilitates the interchange of goods, services, and technologies. Nevertheless, the negative coefficient of TO suggests that increased trade openness may not necessarily result in a higher uptake of renewable energy (22,(127)(128)(129)(130)(131)(132). Increased trade openness could lead to heightened competition from more affordable, non-renewable energy sources in international markets, potentially reducing the demand for renewable energy options.…”

Section: Estimation and Interpretationmentioning

confidence: 99%

Nexus between financial development, foreign direct investment, and renewable energy consumption: Evidence from SSA

Md. Qamruzzaman

2024

GSC Adv. Res. Rev.

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This study examines the nexus between urbanization (UR), gross capital formation (GCF), trade openness (TO), and renewable energy consumption (REC) to understand their interplay and implications for renewable energy adoption. Analyzing the data reveals a negative correlation between UR, GCF, TO, and REC, highlighting challenges in promoting renewable energy amidst urbanization, capital formation, and global trade integration. Policy interventions are crucial to address barriers hindering renewable energy uptake. Recommendations include incentivizing foreign direct investment, enhancing technology transfer, incentivizing clean energy investments, and promoting financial literacy. Integrated urban planning and alignment of capital formation policies with renewable energy goals are essential strategies to accelerate renewable energy adoption. This study offers valuable insights for policymakers and stakeholders seeking to promote renewable energy development and sustainability.

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“…Scholars have examined how trade agreements, environmental laws, and economic factors influence the environmental impact of Trade. Understanding these complex relationships is crucial for policymakers looking to promote sustainable development, reduce carbon emissions, and support the global economy's transition to cleaner energy sources [54][55][56].…”

Section: Trade Openness and Renewable Energy Consumptionmentioning

confidence: 99%

Urbanization, trade openness, and industrialization as a determent of clean energy consumption: Evidence from BRI nations

Md. Qamruzzaman

2024

World J. Adv. Res. Rev.

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Energy and economic policies should include the intricate interconnections among urbanization, trade openness, industry, and the utilization of renewable energy. This study investigates the intricate connections among nations involved in the Belt and Road Initiative (BRI). The study employed panel econometric techniques, including DSUR, Cup-BC, and CUP-FM, to document independent variables' elasticities. Study findings suggest that urbanization is initially negatively correlated with renewable energy consumption (REC) because of the rising demand for energy, particularly non-renewable sources. Urbanization beyond a certain threshold fosters renewable energy, showcasing the positive effects of Renewable Energy Certificates (RECs). The influence of urbanization on energy use has changed throughout time. Furthermore, there is an initial positive relationship between trade openness and REC, indicating that adopting liberalized trade policies encourages the use of clean energy. Nevertheless, over time, this connection becomes less strong, suggesting a critical moment when the promotion of trade openness may lead to an increase in the use of non-renewable resources. Industrialization first stimulates the need for traditional energy sources but ultimately encourages using renewable energy. The U-invert connection demonstrates the interplay between industrialization and energy consumption patterns, emphasizing the need for flexible policies. Our study assists policymakers and stakeholders in effectively addressing energy sustainability concerns related to the Belt and Road Initiative (BRI).

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Navigating environmental concerns: Unveiling the role of economic growth, trade, resources and institutional quality on greenhouse gas emissions in OECD countries

Cited by 32 publications

References 60 publications

Examining public private partnership investment in energy towards achieving sustainable development goal 7 for ASEAN region

Examining public private partnership investment in energy towards achieving sustainable development goal 7 for ASEAN region

Nexus between financial development, foreign direct investment, and renewable energy consumption: Evidence from SSA

Urbanization, trade openness, and industrialization as a determent of clean energy consumption: Evidence from BRI nations

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