• Energy Research

This study analyzes comprehensively the role of green technology, environmental taxes, and green energy toward a sustainable environment in 5 sovereign Nordic countries by also considering income and population. For this purpose, annual data of Nordic countries from 1995 to 2020 is extracted and the cross-sectional augmented autoregressive distributed lag (CS-ARDL) technique is applied to test short-run and long-run compatibilities of the indicators on carbon dioxide (CO2) emissions. Moreover, Augmented Mean Group (AMG) and Common Correlated Effects Mean Group (CCEMG) approaches are applied for robustness checks. The empirical results reveal that (i) green technology, environmental taxes, and green energy have a negative association with CO2 emissions in the both short-run and long-run; (ii) income and population have a positive association between CO2 emissions in the both short-run and long-run; (iii) AMG and CCEMG approaches report similar findings with the CS-ARDL and validate the robustness in turn. Thus, the empirical results confirm the contributing role of green technology, environmental taxes, and green energy toward a sustainable environment in 5 sovereign Nordic countries. Moreover, policy implications are discussed. © 2023 International Association for Gondwana Research

AbstractThis research analyzes the dynamic relationship between green bonds, energy prices, geopolitical risk, and CO2 emissions. In doing so, the study examines the global scale at disaggregated (i.e., sectoral) level, applies a novel time and frequency-based approach (i.e., wavelet local multiple correlation-WLMC), and uses high-frequency daily data between 1st January 2020 and 28th April 2023. In doing so, the study considers the potential differences among sectors. So, aggregated and disaggregated level CO2 emissions on sectoral bases are investigated. Hence, the study comprehensively uncovers the effect of the aforementioned indicators on global CO2 emissions. The results reveal that on CO2 emissions (i) the most influential factor is the geopolitical risk (2020/1–2021/5), green bonds (2021/5–2021/7), energy prices (2021/7–2023/1), and green bonds (2023/1–2023/4); (ii) the effects of the influential factors are much weaker (stronger) at lower (higher) frequencies; (iii) the effect of the influential factors change based on times and frequencies; (iv) however, the effects of the influential factors on CO2 emissions do not differ at aggregated or disaggregated levels. Overall, the results present novel insights for time and frequency-varying effects as well as both aggregated and disaggregated level analyses of global CO2 emissions.

Cette étude étudie les impacts de la consommation d'énergie nucléaire sur la qualité de l'environnement sous un angle différent en se concentrant sur les émissions de dioxyde de carbone (CO2), l'empreinte écologique et le facteur de capacité de charge. Dans ce contexte, le cas de la Corée du Sud, qui est un pays leader dans la production et la consommation d'énergie nucléaire, est étudié en tenant compte également de la croissance économique et de la crise asiatique de 1997 de 1977 à 2018. À cette fin, l'étude utilise l'approche du décalage distribué autorégressif (ARDL). Différente de la littérature précédente, cette étude propose une courbe de capacité de charge (CCL) et teste simultanément les hypothèses de la CCL et de la courbe de Kuznets environnementale (CEC). Les résultats de l'analyse révèlent que (i) les hypothèses LCC et EKC sont valables en Corée du Sud ; (ii) l'énergie nucléaire a un effet positif sur la qualité de l'environnement ; (iii) les énergies renouvelables n'ont pas d'impact significatif à long terme sur l'environnement ; (iv) la crise asiatique de 1997 a eu un effet croissant sur le facteur de capacité de charge ; (v) la Corée du Sud n'a pas encore atteint le tournant, identifié comme 55 411 $ , où le revenu par habitant améliore la qualité de l'environnement. Dans l'ensemble, les résultats montrent la validité des hypothèses LCC et EKC et prouvent la contribution positive de l'énergie nucléaire aux stratégies de développement vert de la Corée du Sud. Este estudio investiga los impactos del consumo de energía nuclear en la calidad ambiental desde una perspectiva diferente, centrándose en las emisiones de dióxido de carbono (CO2), la huella ecológica y el factor de capacidad de carga. En este contexto, el caso de Corea del Sur, que es un país líder en la producción y consumo de energía nuclear, se investiga considerando también el crecimiento económico y la crisis asiática de 1997 de 1977 a 2018. Con este fin, el estudio emplea el enfoque de retraso distribuido autorregresivo (ARDL). A diferencia de la literatura anterior, este estudio propone una curva de capacidad de carga (LCC) y prueba las hipótesis de la LCC y la curva de Kuznets ambiental (EKC) simultáneamente. Los resultados del análisis revelan que (i) las hipótesis de LCC y EKC son válidas en Corea del Sur; (ii) la energía nuclear tiene un efecto de mejora en la calidad ambiental; (iii) la energía renovable no tiene un impacto significativo a largo plazo en el medio ambiente; (iv) la crisis asiática de 1997 tuvo un efecto creciente en el factor de capacidad de carga; (v) Corea del Sur aún no ha alcanzado el punto de inflexión, identificado como $ 55,411, donde el ingreso per cápita mejora la calidad ambiental. En general, los resultados muestran la validez de las hipótesis LCC y EKC y demuestran la contribución positiva de la energía nuclear a las estrategias de desarrollo verde de Corea del Sur. This study investigates the impacts of nuclear energy consumption on environmental quality from a different perspective by focusing on carbon dioxide (CO2) emissions, ecological footprint, and load capacity factor. In this context, the South Korea case, which is a leading country producing and consuming nuclear energy, is investigated by considering also economic growth, and the 1997 Asian crisis from 1977 to 2018. To this end, the study employs the autoregressive distributed lag (ARDL) approach. Different from previous literature, this study proposes a load capacity curve (LCC) and tests the LCC and environmental Kuznets curve (EKC) hypotheses simultaneously. The analysis results reveal that (i) the LCC and EKC hypotheses are valid in South Korea; (ii) nuclear energy has an improving effect on the environmental quality; (iii) renewable energy does not have a significant long-term impact on the environment; (iv) the 1997 Asian crisis had an increasing effect on the load capacity factor; (v) South Korea has not yet reached the turning point, identified as $55,411, where per capita income improves environmental quality. Overall, the results show the validity of the LCC and EKC hypotheses and prove the positive contribution of nuclear energy to South Korea's green development strategies. تبحث هذه الدراسة في آثار استهلاك الطاقة النووية على الجودة البيئية من منظور مختلف من خلال التركيز على انبعاثات ثاني أكسيد الكربون والبصمة البيئية وعامل سعة الحمولة. في هذا السياق، يتم التحقيق في قضية كوريا الجنوبية، وهي دولة رائدة في إنتاج واستهلاك الطاقة النووية، من خلال النظر أيضًا في النمو الاقتصادي، والأزمة الآسيوية لعام 1997 من 1977 إلى 2018. تحقيقا لهذه الغاية، تستخدم الدراسة نهج التأخر الموزع الانحداري الذاتي (ARDL). تختلف هذه الدراسة عن الأدبيات السابقة، وتقترح منحنى الحمولة (LCC) وتختبر فرضيات LCC ومنحنى كوزنتس البيئي (EKC) في وقت واحد. تكشف نتائج التحليل أن (1) فرضيات تغير المناخ المحلي و تغير المناخ البيئي صالحة في كوريا الجنوبية ؛ (2) الطاقة النووية لها تأثير محسن على الجودة البيئية ؛ (3) الطاقة المتجددة ليس لها تأثير كبير على المدى الطويل على البيئة ؛ (4) كان للأزمة الآسيوية عام 1997 تأثير متزايد على عامل سعة الحمولة ؛ (5) كوريا الجنوبية لم تصل بعد إلى نقطة التحول، التي تم تحديدها على أنها 55411 دولارًا، حيث يحسن دخل الفرد من الجودة البيئية. بشكل عام، تُظهر النتائج صحة فرضيات مراكز التحكم في الطاقة و مراكز التحكم في الطاقة وتثبت المساهمة الإيجابية للطاقة النووية في استراتيجيات التنمية الخضراء في كوريا الجنوبية.

Considering increasing public interest in environment-related problems and the carbon-neutrality aims of countries, this study focuses on the effect of green bonds on enabling carbon neutrality and supporting clean electricity in China, which is the leading top carbon-emitting and energy-using country in the world. In this context, the study makes a disaggregated level empirical analysis by considering sectoral emissions and source-based electricity generation by using quantile-based approaches from January 2, 2019, to December 31, 2023. The outcomes show that (i) green bonds decrease mainly emissions in transport and international aviation sectors; (ii) green bonds have mixed effects on the remaining sectoral emissions; (iii) green bonds increase electricity generation from all sources at higher quantiles, whereas they decrease electricity generation at lower quantiles. Thus, the effect of green bonds varies across sectors, electricity generation sources, and quantiles. Accordingly, a set of policy endeavors, such as dealing with firstly such critical sectors as power and industry, supporting the allocated green bond issuance to specified sectors, and focusing on some clean electricity generation sources like solar and wind, are argued for China.

This study aims to demonstrate the impact of economic growth and energy consumption on environmental degradation in China, the top country that produced the highest carbon dioxide (CO2) emissions, by considering that environmental degradation is one of the extreme challenges that the world and China have been facing. Parallel to this aim, this study uses dynamic ARDL (DYNARDL) simulations to investigate the long-run and short-run cointegration amongst the selected parameters from 1979 to 2019. The results of the long-run and short-run simulations illustrate that 1) economic growth increases environmental degradation; 2) growth in energy consumption worsens the environmental degradation situation; 3) urbanization improves the environmental situation in the long run, whereas growth in urban population increases CO2 emissions in the short-run. The research argues that improved energy production and management should be included in economic policy planning and the government should invest more in renewable energy to prevent environmental degradation.

This study analyzes time- and frequency-varying impacts of hydroelectricity energy consumption, natural gas energy consumption, and economic growth on environmental sustainability proxied by carbon dioxide (CO2) emissions in the United States of America (the US) for the period 1965/Q1 to 2020/Q4. This study is the first of its kind to contribute to the current literature by analyzing dynamic relationships among these variables in the short-, medium-, and long-term at different time frequencies in the framework of a multivariate correlation, hence providing a more comprehensive picture about the impacts of these effective factors on CO2 emissions. To meet the objectives of the study, Wavelet local multiple local (WLMC), which is a recent novel methodology developed by Polanco-Martínez et al. (2020), is applied. Moreover, the Wavelet coherence (WTC) approach is used for robustness check. The outcomes provide fresh insights into the long-term dynamic correlations among hydroelectricity energy consumption, natural gas energy consumption, economic growth, and CO2 emissions. The study discovers a robust positive co-movement between natural gas energy consumption and CO2 emissions and a negative correlation between hydro energy consumption and CO2 emissions that is the most intense on the long-term frequencies. Furthermore, economic growth causes CO2 emissions, which is evidenced by a positive relationship between both factors at short- and long-term time-frequencies. Supported by the outcomes of the study, the authors urge to suggest crucial insights and policy points for the US policymakers to shift from fossil energy to renewable energy sources to meet Sustainable Development Goals (SDGs), especially SDG-7 and SDG-13, since they induce lower emissions.

Most countries have tried to decline fossil fuels dependency by supporting clean energy transition. In light of this, this study investigates the impact of energy security risk (ESR) and geopolitical risk (GPR) on the load capacity factor (LCF) in four fragile countries (Brazil-BRA; India-IND; South Africa-ZAF, Türkiye-TUR). The study applies quantile approaches for the period between 1985/m2 and 2018/m12, which represents the largest amount of accessible data. The results show that (i) at higher quantiles, ESR declines the LCF in IND and ZAF, while it has an increasing impact in BRA and a mixed impact in TUR; (ii) GPR increases the LCF in BRA, ZAF, and TUR at lower and middle quantiles, while GPR decreases ecological quality at higher quantiles in all countries; (iii) ESR and GPR have a causal effect on the LCF across various quantiles; (iv) ESR and GPR are strong predictors of the LCF, but their predictive power varies by quantile and becomes significantly weaker with increasing lags. With these fresh outcomes, the study underlines the significant influence of ESR and GPR in ensuring ecological sustainability across all quantiles and countries. The overall findings of the study emphasize that risks and uncertainties degrade the ecological quality of four fragile countries and that policymakers should turn to clean energy sources in case of an increase in geopolitical and energy risks.

This study examines the dynamic effects of electricity generation (EG) on CO2 emissions from the residential sector. The study focuses on the EU-4 countries (Germany, Spain, France, and Italy), considers residential CO2 emissions as the dependent variable, and includes disaggregated level fossil and renewable EG as explanatory variables. In this context, the study runs nonlinear quantile-on-quantile (QQ) regression and Granger causality in quantiles (GQ) as the main models with daily data from January 2, 2019, to March 10, 2023, while quantile regression (QR) is used for robustness check. The findings present that in terms of CO2 emissions: (i) EG from coal, natural gas, and oil has a stimulating effect at higher quantiles in all countries; (ii) EG from hydro has an increasing effect at higher quantiles, while it has a decreasing effect at lower and middle quantiles in all countries except France; (iii) EG from solar has a dampening effect at higher quantiles in all countries except France; (iv) EG from wind has a declining effect at higher quantiles in both Spain and France; (v) both fossil and renewable energy EG have a causal effect on residential sector CO2 emissions at the disaggregated level except at some quantiles. Overall, the effect size and the causal effect of EG on CO2 emissions change for quantiles, countries, and EG sources. Therefore, the study proposes to rely on the specific EG sources for Germany and Italy (solar energy), Spain, and France (wind energy) to mitigate climate change by reducing residential CO2 emissions.