“…On the contrary, there is an increase in CO 2 emissions with revenues from natural resources in China and India. These findings confirm the outputs of Caglar et al, (2022). Caglar et al, (2022) suggested that positive and negative shocks of natural resources should be differentiated in modeling environmental quality.…”
Section: Introductionsupporting
confidence: 92%
“…These findings confirm the outputs of Caglar et al, (2022). Caglar et al, (2022) suggested that positive and negative shocks of natural resources should be differentiated in modeling environmental quality. When analyzing BRICS countries with panel data, the existing literature assumes that the impact of NTR on environmental degradation is linear.…”
Section: Introductionsupporting
confidence: 92%
“…Previous studies assumed that these increases and decreases in natural resources on emissions are similar. However, recent literature shows that natural resources may have an asymmetric effect (Caglar et al, 2022).…”
Environmental sustainability has become the most critical global agenda of the 21st century. The Paris Agreement goals to keep the global temperature rise below 2°C compared to the pre‐industrial period. BRICS, which use intensive natural resources, hold regular meetings, and announce policies to comply with the Paris Agreement. This article aims to help BRICS achieve their sustainable development goals. In order to achieve this aim, the relationship between renewable energy consumption, natural resources, and CO2 emissions is explored in depth using the non‐linear panel autoregressive distributed lag method controlling for economic growth and foreign direct investments. Robust results are obtained by allowing for heterogeneity and cross‐section dependence in econometric analysis. Contrary to the previous literature, it has been shown in the empirical analysis that the impact of natural resources on CO2 emissions is not the same in both the long and short‐run. In the long‐run, negative and positive changes in natural resources increase environmental degradation, while foreign direct investments improve environmental quality. In addition, it seems that renewable energy sources have not reached the level to enhance environmental quality. The empirical results indicated that natural resource and renewable energy consumption findings are novel and bring a different perspective to the existing literature. BRICS should take measures to ensure sustainable use of natural resources in order to minimize dependence on fossil fuels. China, Russia, India, and South Africa should increase the share of RSE in the total energy mix and support renewable energy infrastructure investments for moving towards sustainable environmental development.
“…On the contrary, there is an increase in CO 2 emissions with revenues from natural resources in China and India. These findings confirm the outputs of Caglar et al, (2022). Caglar et al, (2022) suggested that positive and negative shocks of natural resources should be differentiated in modeling environmental quality.…”
Section: Introductionsupporting
confidence: 92%
“…These findings confirm the outputs of Caglar et al, (2022). Caglar et al, (2022) suggested that positive and negative shocks of natural resources should be differentiated in modeling environmental quality. When analyzing BRICS countries with panel data, the existing literature assumes that the impact of NTR on environmental degradation is linear.…”
Section: Introductionsupporting
confidence: 92%
“…Previous studies assumed that these increases and decreases in natural resources on emissions are similar. However, recent literature shows that natural resources may have an asymmetric effect (Caglar et al, 2022).…”
Environmental sustainability has become the most critical global agenda of the 21st century. The Paris Agreement goals to keep the global temperature rise below 2°C compared to the pre‐industrial period. BRICS, which use intensive natural resources, hold regular meetings, and announce policies to comply with the Paris Agreement. This article aims to help BRICS achieve their sustainable development goals. In order to achieve this aim, the relationship between renewable energy consumption, natural resources, and CO2 emissions is explored in depth using the non‐linear panel autoregressive distributed lag method controlling for economic growth and foreign direct investments. Robust results are obtained by allowing for heterogeneity and cross‐section dependence in econometric analysis. Contrary to the previous literature, it has been shown in the empirical analysis that the impact of natural resources on CO2 emissions is not the same in both the long and short‐run. In the long‐run, negative and positive changes in natural resources increase environmental degradation, while foreign direct investments improve environmental quality. In addition, it seems that renewable energy sources have not reached the level to enhance environmental quality. The empirical results indicated that natural resource and renewable energy consumption findings are novel and bring a different perspective to the existing literature. BRICS should take measures to ensure sustainable use of natural resources in order to minimize dependence on fossil fuels. China, Russia, India, and South Africa should increase the share of RSE in the total energy mix and support renewable energy infrastructure investments for moving towards sustainable environmental development.
“…2 ). However, the current use of renewables is not sufficient to curb the growing TCO 2 levels (Caglar et al 2022b ); thus, it becomes essential to understand the relationship between transport sector variables and TCO 2 as well as the causal dynamics of transport variables with economic growth and TCO 2 for effective sustainable transportation policies. Fig.…”
Attaining Sustainable Development Goals (SDGs) is important to control the adverse impacts of climate change and achieve sustainable development. Among the 17 SDGs, target 13 emphasizes enhancing urgent actions to combat climate-related changes. This target is also dependent on target 7, which advocates enhancing access to cheap alternative sustainable energy. To accomplish these targets, it is vital to curb the transport CO
2
emissions (TCO
2
) which increased by approximately 80% from 1990 to 2019. Thus, this study assesses the role of transport renewable energy consumption (TRN) in TCO
2
by taking into consideration transport fossil fuel consumption (TTF) and road infrastructure (RF) from 1970 to 2019 for the United States (US) with the intention to suggest some suitable mitigation policies. Also, this study assessed the presence of transport environmental Kuznets curve (EKC) to assess the direction of transport-induced growth. The study used the Bayer-Hanck cointegration test which utilizes four different cointegration techniques to decide cointegration along with the Gradual Shift causality test which considers structural shift and fractional integration in time series data. The long-run findings of the Dynamic Ordinary Least Squares (DOLS) test, which counters endogeneity and serial correlation, revealed that the transport renewable energy use mitigates as well as Granger causes TCO
2
. However, transport fossil fuel usage and road infrastructure enhance TCO
2
. Surprisingly, the transport EKC is invalid in the case of the US, and increased growth levels are harmful to the environment. The association between TCO
2
and economic growth is similar to a U-shaped curve. The Spectral Causality test revealed the growth hypothesis regarding transport fossil fuel use and economic growth connection, which suggests that policymakers should be cautious while decreasing the usage of transport fossil fuels because it may hamper economic progress. These findings call for revisiting growth strategies and increasing green energy utilization in the transport sector to mitigate transport emissions.
“…Environmental sustainability is necessary for future growth and development. It is the joint responsibility of all stakeholders to align strategies that can create a substantial impact in maintaining ecological footprints (Caglar et al 2022 ). Certainly, the adverse climate change is a pressing concern and the world is visibly witnessing severe damage to the ecosystem.…”
The present study is a novel attempt to unravel the connectedness of the green bond with energy, crypto, and carbon markets using the S&P green bond index (RSPGB). We consider MAC global solar energy index (RMGS) and ISE global wind energy index (RIGW) as proxies of the energy market and use bitcoin and the European energy exchange carbon index (REEX) for the cryptocurrency and carbon market. Employing the Diebold and Yilmaz (2012), Baruník and Krehlík (2018), and wavelet coherence econometric techniques, we find that the energy market (RMGS) has the highest connectedness derived from other asset classes, and bitcoin (RBTC) has the least connectedness. Concurrently, we find that the risk transmission is heterogeneous in different scales as the short period has less connectedness than the medium and long run. We conclude that the overall diversification opportunity among green bonds, energy stock, bitcoin, and the carbon market is more in the short-run than in the medium and long-run. In summary, our findings on the green bond market will provide investors, portfolio managers, and policymakers with critical insight into ensuring a sustainable financial market.
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