Sustainable development via environmental taxes and efficiency in energy: Evaluating trade adjusted carbon emissions

Abstract

Sustainable development goals are one of the key targets to achieve for many countries across the globe. The current study aims to determine the impact of economic development and global commerce, specifically by considering trade separately, energy efficiency, and environmental levies on consumption-based carbon emissions (CCO2) for the G-7 countries between 1990 and 2020. This research used slope-heterogeneity and cross-section dependency to determine the unit root order. To assess the long run and short-run correlations between variables, the cross-sectionally augmented autoregressive distributed lags model (CS-ARDL) is employed, along with an augmented mean group test to ensure robustness. The study found that economic growth and imports are deteriorating, impacting the CCO2 emission of the G-7 countries, while the exports, energy efficiency and environmental taxes are having a corrective impact on the CCO2 emission. As per the results, focusing on energy efficiency will have a more correcting impact on CCO2 than on the other factors. The augmented mean group model further validates the results.

Can financial innovation and environmental policy curb transport‐based CO2 emissions? An advanced panel analysis

“…Few studies found that ETAX curbs environmental degradation, while few studies found no evidence to support the environmental benefits of such taxes (Bukar et al, 2023;Nchofoung et al, 2023). For example, Zhang and Zheng (2023) and they found that energy tax mitigates air pollution. According to Wilson and Staffell (2018), a 1% surge in carbon tax mitigates 0.034% of pollution in the OECD regions.…”

“…Few studies found that ETAX curbs environmental degradation, while few studies found no evidence to support the environmental benefits of such taxes (Bukar et al, 2023; Nchofoung et al, 2023). For example, Zhang and Zheng (2023) and Ahmed et al (2022) found that ETAXs curb CO 2 E. Moreover, Kirikkaleli, Karmoh, et al (2023) discovered that ETAXs mitigate CO 2 E in Japan by promoting alternative energy. Fremstad and Paul (2019) and Wei et al (2023) also exposed that energy tax mitigates environmental CO 2 E and reduces energy consumption.…”

Residential photovoltaic and energy storage systems for sustainable development: An economic analysis applied to incentive mechanisms

“…Strategies that move toward sustainable development goals must be identified (Guang‐Wen et al, 2023; Xing et al, 2023). Among these, RES are essential in terms of sustainability since they can cut global greenhouse gas emissions (Zhang & Zheng, 2023) also considering the future context characterized by the development of decentralized models (Collier et al, 2023). Additionally, the cost‐reduction of RESs like solar photovoltaic (PV) has made them a desirable method of generating electricity (Campana et al, 2021; He et al, 2023).…”

Achieving green environment in Brazil, Russia, India, China, and South Africa economies: Do composite risk index, green innovation, and environmental policy stringency matter?

“…GINOV supports the transition away from fossil fuel energy and toward renewable energy sources, which can spur economic expansion and mitigate unfavorable environmental impacts. According to the environmental Kuznets curve (EKC) in economic growth, the usage of fossil fuels can lead to environmental pollution, which can produce an inverted U‐shape curve (Fang, 2023; Sun & Razzaq, 2022; Zhang & Zheng, 2022). Udeagha and Ngepah (2023a, 2023b) report that prior research suggests that economic expansion spurred on by technology improvements may actually lead to a reduction in CO 2 emissions.…”