• Energy Research

The quest for rapid economic development by modern nations has led to an unprecedented increase in carbon emissions. Knowledge spillovers from increasing trade activities and effective environmental regulations have been suggested as viable means of controlling these rising emissions. To that end, this study aims to examine the impact 'trade openness' and 'institutional quality' had on CO2 emissions in BRICS countries from 1991 to 2019. Three indices, namely, institutional quality, political stability, and political efficiency, are constructed to measure the overall institutional impact on emissions. A single indicator analysis is conducted for a deeper investigation of each index component. Given the existence of cross-sectional dependence among variables, the study uses the modern dynamic common correlated effects (DCCE) method to estimate their long-run relationships. Confirming the pollution haven hypothesis, the findings reveal that 'trade openness' indeed is a cause of environmental degradation in the BRICS nations. Through reduced corruption, improved political stability, bureaucratic accountability, and better law and order, 'institutional quality' is found to be contributing positively to environmental sustainability. It is also confirmed that renewable energy sources do have a positive environmental impact; however, it is found to be insufficient to offset the adverse effects caused by non-renewable sources. Based on the results, it is advised that BRICS countries should strengthen their cooperation with developed countries so that positive spillovers of green technologies may occur. Moreover, renewable resources should be aligned with firms' profits so that sustainable production practices can become the new norm.

This paper examines the role of trade openness and innovation in reducing CO2 emissions in middle-income countries with the goal of improving environmental quality. The generalised method of moments (GMM) method is used to estimate the long-run association between variables and Dumitrescu-Hurlin causality test is used to examine causality for a panel of 23 middle-income countries from 1994 to 2018. The findings refute the existence of an inverted u-shape relationship between innovation and CO2 emissions. On the trade front, environmental deterioration is found to be relatively more severe in low middle-income countries than upper middle-income countries. Contrarily, the existence of the environment Kuznets curve (EKC) hypothesis for both country groups is also supported by the data; however, the fall in the EKC curve is insignificant for low middle-income countries. Implying that the quest to control carbon emissions has just begun in low middle-income countries and they must target a higher level of green innovation to reduce the ever-rising CO2 emissions. It is also suggested to promote economic growth through knowledge spillovers and to establish a pollution level standard for trading and manufacturing sectors which generate the most contaminated waste.

Abstract The Sub-Saharan Africa (SSA) region is facing environmental sustainability challenges due to its abundant reserves of strategic commodities like crude oil and gold. These commodities significantly contribute to economic growth through their extraction and export to the global commodity market, but this economic dividend comes at the cost of environmental degradation. The present study explores the SSA region from the dimension of environmental sustainability, as it has received very limited research attention. It empirically investigates the interrelationships between commodity prices, economic policy uncertainty, renewable energy consumption (green energy), and carbon emissions across 39 SSA countries from 1996 to 2022. The study uses the second-generation panel econometrics method, the Augmented Mean Group technique, for the primary estimation. It also uses the two-step system Generalized Method of Moments (GMM) and FMOLS for robustness. The present study validates the Environmental Kuznets Curve hypothesis and provides new insights into the environmental dynamics of the SSA region. The study findings show that strategic commodities drive the region's environmental crisis, while green energy consumption and economic policy stability promote sustainability. It suggests that SSA countries should focus on controlling illegal mining and exploration activities while accelerating investments in green energy to mitigate environmental deterioration. This research study makes policy recommendations to achieve sustainable development while balancing economic growth and environmental protection.

Purpose The purpose of this paper is to examine the nexus among economic growth, nonrenewable energy consumption and renewable energy consumption in India over the period 1971-2017. Design/methodology/approach This study uses nonlinear autoregressive distributed lags model and asymmetric causality test to explore nonlinearities in the dynamic interaction among the variables. Findings The findings indicate that the impact of nonrenewable energy consumption and renewable energy consumption on the economic growth is asymmetric in both long run and short run. In long run, a positive shock in nonrenewable energy consumption and renewable energy consumption exerts a positive impact on growth. However, the negative shocks in nonrenewable energy consumption produce larger negative effects on the growth. The results of nonlinear causality test indicate a unidirectional causality from nonrenewable energy consumption and renewable energy consumption to economic growth and thus support “growth hypothesis” in context of India. Practical implications The findings imply that policy measures to discourage nonrenewable energy consumption may produce deflationary effects on economic growth in India. Further, the findings demonstrate the potential role of renewable energy consumption in promoting economic growth. Originality/value To the best of the authors’ knowledge, this study is the first attempt to explore nonlinearities in the relationship between economic growth and the components of energy consumption in terms of renewable and nonrenewable energy consumption.

The policymakers in emerging economies have accelerated their efforts to move toward sustainable development due to the associated challenges of environmental degradation and disparities in economic growth. The present study is an effort in that direction; it looks at trade-adjusted carbon emissions (TACE) to help policymakers develop a relevant policy response to mitigate climate change in the BRICST (comprising Brazil, Russia, India, China, South Africa, and Turkey) regions. The study investigates the impact of financial inclusion, green finance, and sustainable economic development on carbon emissions adjusted for trade. The study utilizes the panel dataset of the BRICST regions from 2000 to 2023 by employing the econometric methods of the Method of Moments Quantile Regression (MMQR) approach. It recommends green finance, financial inclusion, and sustainable economic development to curb TACE. The research findings indicate a noteworthy correlation between green finance, financial inclusion, sustainable economic development and TACE. The study recommends policy measures for the BRICST regions that align with the Sustainable Development Goals, focusing on green finance, financial inclusion, and sustainability. By promoting renewable energy, enhancing financial access, and encouraging international cooperation, these strategies aim to reduce TACE and foster sustainable development.

In recent times, the green transition, by promoting carbon neutrality, has become highly imperative to meet environmental challenges. The present literature review study seeks to explore the intersecting role of greener innovations in facilitating financial inclusion for a sustainable future. Within the global agenda is the goal of carbon neutrality, with the aim of reducing environmental impact and mitigating climate change. Aim: The present study aims to investigate the role that technological innovations play in the financial inclusion of achieving climate neutrality. Method: Through a systematic literature review, we investigate how new innovations generate new investment opportunities and promote sustainable development. However, fair, accessible, and inclusive financing is crucial. Findings: the analyzed documents in this study shows that technological innovations can play an important role in financial inclusion for carbon neutrality and provide some important policy implications. Indeed, a favorable regulatory environment could generate positive effects already in the short term, with important environmental, economic, and social repercussions.

Sustainable Development has become a key concern throughout the world after the United Nations set 2030 as the SDGs deadline. A lot of concerted efforts have already been taken and currently undergoing to combat the global menace of climate change, carbon dioxide removal, adoption of renewable energy, and many more. All of these cannot be achieved with the sole support of public funds or traditional sources of finance. This is where venture capital (VC) steps in and fulfill the gap. Over the past few years, VCs have also been channelizing their investment flows as per the ‘triple bottom line’ towards startups and businesses which comes under the aspect of cleantech, sustainable entrepreneurship, technological innovations, green innovation, and sustainability. These VCs which focus on environmental protection are the Green Venture Capital (GVC). This research study provides a holistic overview of the available literature to highlight the significance of GVCs for attaining sustainable development. The present study has summarized 179 research articles from the time period 2002 to 2022 through a systematic literature review. The research articles gave four major thematic clusters, namely- Transition towards GVC, GVC and Cleantech, GVC and Sustainability, and Policy-Push for GVC. The present study provides a brief summary of these themes and the future research directions which can be explored.

The rising energy demand for information and communication technology (ICT) devices has piqued the interest of scholars and policymakers. Given that ICT devices are ubiquitous, any attempt to mitigate climate change should address the carbon footprint of the ICT sector. The present study examines the direct impact of ICT on the environment and the indirect impact through interaction with energy consumption, financial development, and globalization in SAARC economies from 2000 to 2020. Using econometric approaches robust to cross-sectional dependence, such as the Driscoll-Kraay estimator and the Dumitrescu-Hurlin causality test, the study found that ICT, renewable energy consumption, and globalization significantly reduce CO2 emission, whereas non-renewable energy consumption and financial development significantly increase emission. However, the interaction between financial development and ICT jointly reduces CO2 emissions. Similarly, renewable energy and globalization reduce emissions from increased ICT usage. The study also confirms the validity of the environmental Kuznets curve hypothesis for ICT diffusion. The causality test indicates bidirectional causality between ICT and CO2 emissions. Results suggest that SAARC economies can safely boost ICT and related applications to minimize emissions. They should also use renewable energy and green innovations in telecommunications to reduce their adverse environmental repercussions.