Role of Renewable Energy Consumption and Technological Innovation to Achieve Carbon Neutrality in Spain: Fresh Insights From Wavelet Coherence and Spectral Causality Approaches

Zhao, Yinfeng; Ramzan, Muhammad; Adebayo, Tomiwa Sunday; Oladipupo, Seun Damola; Adeshola, Ibrahim; Agyekum, Ephraim Bonah

doi:10.3389/fenvs.2021.769067

Cited by 26 publications

(11 citation statements)

References 63 publications

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“…As regards the policy side, the study suggests that any initiative that targets human capital, RDE, economic globalization, and TIN eventually affects green growth. The technologies ensuring green innovations are considered vital for reducing the efficiency and sustainability of energy usage (Anwar & Malik, 2021; Chen et al, 2021; Habiba et al, 2022; Sohag et al, 2015; Zhao et al, 2021). According to Sohag, Taşkın, and Nasir (2019), lnGRN is an effective tool to encourage sustainable economic growth.…”

Section: Theoretical Underpinning and Literature Reviewmentioning

confidence: 99%

Do green innovation and financial globalization contribute to the ecological sustainability and energy transition in the United Kingdom? Policy insights from a bootstrap rolling window approach

Ramzan

Razi

Quddoos

et al. 2022

Sustainable Development

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127

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Environmental sustainability and energy transition, especially the renewable energy transition, have become critical concerns of nations throughout the world in recent decades.The sustainable and eco-friendly technologies have led to more sustainable methodologies, substantial stewardship of our natural resources, and the conversion to renewable energy sources, all of which have been demonstrated to benefit the environment significantly. However, prior studies have overlooked the ecological sustainability and energy transition effects of green technology innovation. Therefore, this study endeavored to investigate the role of green innovation (lnGRN) and financial globalization (lnFIG) on the sustainability of the environment (lnEFT) and energy transition (lnENT) in the United Kingdom using quarterly data for the period from 1995 to 2020. The study applied the time-varying (bootstrapping) rolling window technique, which can retrieve casual associations among variables at different periods of sub-samples. Besides this, the method is advantageous for addressing the non-consistency of parameters and eliminating the pre-test distortion. The novel Bootstrap Rolling-Window full-sample causality technique results demonstrate that lnGRN and lnFIG have unidirectional causality toward lnEFT and lnENT. Furthermore, the bootstrap rolling-window subsamples in the final stage indicate that lnGRN and lnFIG mitigate lnEFT, whereas lnGRN and lnGDP enhance energy transition. On the other hand, lnGDP and lnETX contribute to environmental deterioration, while lnFIG hinders the energy transition. Several important policy implications are derived from the results to encourage financial globalization, green innovation technologies, renewable energy resources consumption, and environmental taxes.

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Section: Theoretical Underpinning and Literature Reviewmentioning

confidence: 99%

Do green innovation and financial globalization contribute to the ecological sustainability and energy transition in the United Kingdom? Policy insights from a bootstrap rolling window approach

Ramzan

Razi

Quddoos

et al. 2022

Sustainable Development

Self Cite

127

View full text Add to dashboard Cite

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“…The wavelet-based approach is a relatively new area of human knowledge, which is found to be useful for decomposing signals that have a cyclical behavior. In this study, the Morlet wavelet function is employed since it offers good results in terms of balance between time and frequency (Magazzino and Mutascu, 2019;Zhao et al, 2021) and it can be specified as follows:…”

Section: Methodsmentioning

confidence: 99%

“…Where the p(n) which is the time-series data is incorporated. The local variance was revealed using the wavelet power spectrum (WPS) (Zhao et al, 2021). A cone of influence is considered to illustrate the edge effects of the observations.…”

Section: Methodsmentioning

confidence: 99%

Do Innovation in Environmental-Related Technologies and Renewable Energies Mitigate the Transport-Based CO2 Emissions in Turkey?

Alnour

2022

Front. Environ. Sci.

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Given the unprecedented level of air pollution in urban areas, green transport systems has been a subject to an important debate in academic and policymaking circles. Despite the considerable outputs of the attendant literature, most of empirical studies to date have relied on conventional econometric models in which structural shocks are not controlled. This study, therefore, aims to offer a new perceptive of the dynamic connection between renewable energy, environment-related technological innovation, and transport-based CO2 emissions in Turkey during 1990Q1 to 2014Q1 by applying the Structural Vector Autoregressive approach (SVAR). Furthermore, to explore the co-movements and the lead-lag interrelations among the study variables, the wavelet coherence technique was used. The wavelet coherence technique circumvents the other traditional causality approaches by detecting the causal interrelation between the underlying series at different frequencies. The findings disclose that environment-related technological innovation has no reliable power to explain the variation in CO2 emissions from the transport sector. Solar energy is found to impact the CO2 emissions positively in the long run, while biofuels hold the same effect in short run. Moreover, per capita GDP and urbanization significantly impact the carbon emissions from the transport system in the long run with a negative sign. The wavelet analysis reveals that renewables and environmental-related technological innovation lead the transport-based CO2 emissions. The fourth and 16th periods are the most dominant frequencies. Accordingly, the study suggests that innovation in environment-related technologies is not enough to mitigate the pollution that stemming from the transport system in Turkey, it should be accompanied by strong and effective environmental measures. These policies might include environmental taxations, carbon pricing and trading schemes, which aim not only to prevent the pollution and over-extraction of resources, but also to promote the public revenues from different activities that related to environmental purposes and other applications such as energy product and vehicle fuels. In addition, it is suggested to strengthening the transportation system through the deployment of renewables and high-tech eco-friendly modes of transportation.

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“…According to Ozturk et al [20], a positive linkage is found between environmental degradation and EF. The prime determinant of EF is GDP [21], while other determinants are renewable and non-renewable energy, the latter of which is the prime cause of GHG emissions [22][23][24][25].…”

Section: Introductionmentioning

confidence: 99%

Exploring the Roles of Renewable Energy, Education Spending, and CO2 Emissions towards Health Spending in South Asian Countries

et al. 2022

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This research is mainly aimed at determining the effect of renewable energy (RE), education expenditures, and CO2 emissions on health expenditures in selected South Asian countries. There is an insufficient number of studies that investigate the linkages between health expenditures (HE) and CO2 emissions in South Asian countries. This study combined RE and gross domestic product (GDP) to identify their effect on health spending. We utilized the annual data of 1990–2018, and applied FMOLS and DOLS estimators over the panel data of five South Asian countries. According to the DOLS and FMOLS long-run results, GDP, RE, and education expenditures are negatively associated with health expenditures. This suggests that renewable energy puts less pressure on environmental quality, which leads to less health spending in the five South Asian countries studied. The empirical results also show that HE and CO2 emissions are positively and significantly related, which implies that an increase in CO2 emissions increases the financial burden on the various countries’ health sector. This study, therefore, recommends the usage of renewable sources to improve public health and to help lower health expenditures. To achieve sustainable development, it is also important to increase investment in the educational sector in the various countries.

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Role of Renewable Energy Consumption and Technological Innovation to Achieve Carbon Neutrality in Spain: Fresh Insights From Wavelet Coherence and Spectral Causality Approaches

Cited by 26 publications

References 63 publications

Do green innovation and financial globalization contribute to the ecological sustainability and energy transition in the United Kingdom? Policy insights from a bootstrap rolling window approach

Do green innovation and financial globalization contribute to the ecological sustainability and energy transition in the United Kingdom? Policy insights from a bootstrap rolling window approach

Do Innovation in Environmental-Related Technologies and Renewable Energies Mitigate the Transport-Based CO2 Emissions in Turkey?

Exploring the Roles of Renewable Energy, Education Spending, and CO2 Emissions towards Health Spending in South Asian Countries

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