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Abstract This study investigates the macroeconomic effects of adverse oil price shocks on a small oil-exporting economy — the Azerbaijan economy. We estimate a recursive (near) VAR model by using monthly macroeconomic data from 2006 to 2018. The results indicate the Azerbaijan economy is adversely influenced by an oil price decline. Specifically, we find that a negative oil price shock deteriorates trade balance, causes a currency depreciation, increases inflation and falls economic activity. Furthermore, our findings imply that the oil price-led devaluation shapes the inflationary and recessionary consequences of this shock.

Purpose This study aims to consider environmental sustainability, a global challenge under the preview of sustainable development goals, highlighting the significance of knowledge economy in attaining sustainable aggregate demand behavior globally. For this purpose, 155 countries that have data available from 1995 to 2021 were selected. The purpose of selecting these countries is to test the global responsibility of the knowledge economy to attain environmental sustainability. Design/methodology/approach Results are estimated with the help of panel quantile regression. The empirical existence of aggregate demand-based environmental Kuznets curve (EKC) was tested using non-linear tests. Moreover, principal component analysis has been incorporated to construct the knowledge economy index. Findings U-shaped aggregate demand-based EKC at global level is validated. However, environmental deterioration increases with an additional escalation after US$497.945m in aggregate demand. As a determinant, the knowledge economy is reducing CO2 emissions. The knowledge economy has played a significant role in global responsibility, shifting the EKC downward and extending the CO2 reduction phase for every selected country. Further, urbanization, energy intensity, financial development and trade openness significantly deteriorate the environmental quality. Originality/value This study contains the empirical existence of aggregate demand-based EKC. The role of the knowledge economy is examined through an index which is calculated by using four pillars of the knowledge economy (technology, innovations, education and institutions). This study is based on a combined panel of all the countries for which the data was available.

Abstract The Chinese government has taken measures to realize energy-savings and emission reductions, such as promoting innovations, adjusting the industrial structure, balancing regional development, and reforming markets. The aim of this paper is to assess the effects of these measures on China's CO2 emissions by using a newly proposed decomposition approach, which identified eight new factors related to the above realistic measures, i.e., energy saving and production technologies, industrial energy and production efficiencies, regional energy and production efficiencies, and pure energy and production efficiencies. The main findings indicate benefits from considerable technological progress in energy-saving and production during 2000–2016 period, and two technological factors contributed the most to emissions abatement and cumulatively reduced 5372.43 Mt and 1291.72 Mt CO2 emissions. The efforts of industrial restructuring promoted energy and production efficiency improvement, which further facilitated emission reduction. In contrast, the pure energy and production efficiency changes cumulatively led to 1080.26 Mt and 1135.85 Mt CO2 emissions growth during the whole sample period, suggesting that severe resource misallocation problems may exist in both the energy market and output market. Additionally, the Chinese government failed to narrow the technology gap between developed regions and underdeveloped regions, further restricting emission reduction.

In July 2010, the LISS Immigrant panel was presented a questionnaire to measure the ecological footprint of the respondent. The questionnaire calculates the ecological footprint by taking account of the space, resources and energy people use in relation to the biocapacity of the earth.More information on this Ecological Footprint measure by Prof. W. Rees and Dr. M. Wackernagel can be found on the website: www.footprintnetwork.org.

This paper explores how market and regulatory factors affect stakeholders' investments in smart grid projects in Europe. Distribution System Operators (DSOs), universities, and technology manufacturers are leading investors, with a cumulative 2286 M€ financed since 2002. Statistical tests were conducted on these groups' investments in smart grid projects in the EU-28, Norway, and Switzerland from 2008-2015, to evaluate the influence of the following factors on investment: the level of distribution sector concentration, the regulatory mechanism in place, and the existence of innovation stimulus mechanisms. The level of distribution sector concentration did not significantly influence investments by these three groups. Market-minded stakeholders, such as DSOs and technology manufacturers, invested more in countries that employed hybrid, incentive, or innovation-stimulus mechanisms; meanwhile, collaborative knowledge-seeking institutions, such as universities, were not swayed by these factors. Taking these findings into consideration will help policy makers design adequate incentives for stakeholders.

Abstract Domestic wind turbine manufacturing sector in China has experienced development stages starting from scratch to mass production. During the 11th FYP period (2006–2010), the main goal of wind power policy in China is to promote the commercialization of wind power by large-scale deployment of wind farms. This goal has been realized to a great extent and now the cost of wind power generation is nearly comparable to coal-fired power generation in China. The industry policy, which devotes to mass production of domestic wind turbines, is also largely successful. The purpose of the paper is to provide an overview on wind turbine manufacturing sector in China. The policy evolution in different stages, achievements and challenges pertinent to the sector are addressed in the paper. Key findings are that the misleading industry policy, which provides strong incentive to blind entrance and “competition for scale and price” and restrains innovation as well, is the key obstacle for the sustainable development of the sector. Deficient technology standard and qualification system and the misplaced franchise bidding system also indulge vicious competition and oversupply. Creating a level playground for all turbine supplies, providing strong incentive to innovative manufacturers, establishing thorough and practicable standard and qualification system, and fine-tuning the directive of the franchise bidding system towards technology and service are the primary policy implications proposed by our study.

A promising route to transition wastewater treatment facilities (WWTFs) from energy-consuming to net energy-positive is to retrofit existing facilities with process modifications, residual biosolid upcycling, and effluent thermal energy recovery. This study assesses the economics and life cycle environmental impacts of three proposed retrofits of WWTFs that consider thermochemical conversion technologies, namely, hydrothermal liquefaction, slow pyrolysis, and fast pyrolysis, along with advanced bioreactors. The results are in turn compared to the reference design, showing the retrofitting design with hydrothermal liquefaction, and an up-flow anaerobic sludge blanket has the highest net present value (NPV) of $177.36MM over a 20-year plant lifetime despite 15% higher annual production costs than the reference design. According to the ReCiPe method, chlorination is identified as the major contributor for most impact categories in all cases. There are several uncertainties embedded in the techno-economic analysis and life cycle assessment, including the discount rate, capital investment, sewer rate, and prices of main products; among which, the price of biochar presents the widest variation from $50 to $1900/t. Sensitivity analyses reveal that the variation of discount rates causes the most significant changes in NPVs. The impact of the biochar price is more pronounced in the slow pyrolysis-based pathway compared to the fast pyrolysis since biochar is the main product of slow pyrolysis.

AbstractRemittances to the Philippines constitute a prominent part of its economy. However, remittances' effects on its environment have not been researched. In this regard, this research examines the direct and indirect impacts of remittance inflows on the Philippines' environmental sustainability for the 1977–2016 period by proposing a multivariate model, and by utilising the augmented ARDL and VECM methods to estimate this model. Our findings indicate that remittance inflows threaten environmental sustainability in the long‐run both directly and indirectly through boosting income and energy (oil) consumption. The results additionally imply that income and energy consumption also increase the ecological footprint of the Philippines in the long‐run. However, economic globalisation's long‐run impact is insignificant, yet its short‐run impact is significantly negative on the country's level of environmental degradation. Additionally, the findings reveal that the feedback hypothesis is valid between income and energy consumption in the long‐run, but the neutrality hypothesis is valid in the short‐run. This research's findings reveal that remittance inflows' impact on the environment is significant, and can occur through direct and various indirect channels, therefore, these inflows should be an integral part of sustainability policies in the Philippines, as ignoring them could cause further environmental decline.

We researched China's climate and sustainable development goal with relevant and susceptible instruments capable of inducing and mitigating carbon emissions. Amidst the contributor to the global carbon emissions, China is caught in between mitigating its carbon emission and aiming towards placing its national contribution of emissions to the acceptable levels of 1.5 °C and below 2 °C. Following the intricacies surrounding China's sustainable development as it contains its economic and environmental performance, we adopt China's data of 1980 and 2018 with different scientific approaches (nonlinear autoregressive distributed lag (NARDL), dynamic ordinary least square test, and bootstrap Granger causality) with different instruments (such as economic growth, financial development, renewable energy, and innovation policies) to research China's sustainable development. For clear exposition and insight into our findings with policies attached, we draw a conclusion from the outcomes of the mentioned approaches. From NARDL and dynamic ordinary least squares (DOLS), we find that economic growth through economic activities is statistically significant in determining the trend (increase) of carbon emissions in China in both periods (short run and long run). However, other selected instruments (financial, renewable, and innovation policies) tend towards controlling and moderating the carbon emissions in China. Thus, China has good prospects to mitigate its carbon emissions if considered tailoring its policies towards favorable instruments. From bootstrap Granger causality, we find similar inferential results that support previous findings thereby confirming the positive implication of the selected instruments to China's sustainable development. Hence, the nexus that is established among the selected instruments clearly show the importance of technological innovation and renewable energy in mitigating carbon emissions.