• Energy Research
• other engineering and technologies close
• 1. No poverty close
• CN close
• SA close
• BE close

Abstract This study investigates the non-linear relationship between urbanization paths and CO2 emissions in selected South, South-East, and East Asian countries over the period 1971–2014. Based on the STIRPAT (Stochastic Impacts by Regression on Population, Affluence, and Technology) framework, we applied the advanced and robust methods of dynamic seemingly unrelated regression (DSUR), dynamic OLS (DOLS), and fully modified OLS (FMOLS) to estimate the long-term effects. The empirical findings revealed the inverted U-shaped effects of urbanization and urban agglomeration and the U-shaped impact of the largest city ratio on CO2 emissions. Urbanization and urban agglomerations improve environmental quality in the long-run and support ecological modernization theory. However, excessive concentration in the largest cities have severely affected the environmental quality and violates the notion of compact-city efficiencies. Moreover, energy intensity and economic growth positively affect CO2 emissions, while trade openness negatively influences CO2 emissions. Our robustness analysis at the country-level applies the augmented mean group (AMG) panel ARDL technique, which further supports the non-linear effect of urbanization paths on CO2 emissions except for a few countries. The results of the panel Granger non-causality approach unveil bidirectional causality of energy efficiency, economic growth, urbanization, and largest city ratio with CO2 emissions. In contrast, unidirectional causality runs from urban agglomeration to CO2 emissions. Our findings have important policy implications as we suggest green urban infrastructures, eco-friendly dwellings, smart cities, country-specific trade policies, and renewable energy options to improve the environmental quality.

Abstract As a burgeoning theoretical framework, energy justice has been mostly focused on the energy transition in Western countries, where socio-political settings are largely featured by liberalism and democracy, leaving an obvious gap in its application in other socio-political contexts. As a major energy consumer and a leader of the global low-carbon transition, China is characterized by a distinctive socio-political regime. An array of grand strategies to transform its coal-dominant energy structure have been initiated to ameliorate deteriorating environmental crises in particular and materialize a low-carbon transition in general. Based on extensive evidence, this article incorporates the energy justice framework into the analysis of an ongoing energy transition project in rural Northern China. It contributes to the related research in three dimensions. First, empirically, it demonstrates that the coal-to-gas heating transition project has been swamped with social injustices; the absence of measures to address these would lead this mega-project to profound failure. Second, theoretically, it illustrates that the concerns of justice are even more paramount in an authoritarian context where policy processes are characterized by strong political-administrative intervention and the pursuit of efficiency at all cost. In light of this, it stresses the indispensable role of restorative justice as a core tenet in achieving energy justice in authoritarian socio-political contexts, such as China. Third, this study advocates expanding the evaluation parameters of authoritarian environmentalism to include social consequences.

According to the United Nations population projections, the population of the elderly is expected to roughly triple in China from 2000 to 2050, particularly when the generations who were born between the 1950s and 1970s move through the age structure, and also because people are living longer and fertility rates have fallen, population aging is expected to put pressure on government's fiscal balance through higher old-age security benefits and health-care expenditures. This work draws together the broad range of elements involved within a consistent framework, based on a computable dynamic general equilibrium model with an overlapping generation structure. Further analysis using model simulation illustrates that the alternative schemes for the benefit rate, retirement age and technological progress are likely to be beneficial, and that an obvious slow-down in the growth of living standards is likely to be avoided.

Abstract China's carbon emissions have been ranking first in the world. This study filled in the gaps in research, decomposed carbon intensity from the perspective of time, space and industry. A decoupling effort model based on factor decomposition models was constructed to analyze the driving factors of carbon emissions and economic decoupling, which builded a foundation for achieving sustainable economic development. Using the Logarithmic Mean Divisia Index method (LMDI), the paper measured the carbon emission intensity of 29 provinces and cities in China from 1998 to 2019, and decomposed the decoupling effect between GDP and carbon emission on the basis of factor decomposition by tapio. The results showed that: (1) Carbon intensity declined first, then rise lightly, and finally declined steadily. For the primary industry and the tertiary industry, the carbon intensity declined steadily, while the carbon intensity increased accordingly to the overall carbon intensity. In terms of spatial evolution, the regional differences between different provinces decreased correspondingly. (2) The cumulative contribution rates of these three effects, i.e., technological progress, industrial structure and regional scale were 106.3299%, −15.1486% and 8.8188%, respectively. There were obvious differences of these cumulative contribution rates of carbon intensity among different provinces. (3) From the perspective of industrial, technological progress effect is the largest contribution for carbon intensity in the secondary industry. The Industrial structure effect mainly affects the primary and tertiary industries; and no significant difference in regional scale effect. (4) The decoupling effect gradually improved, and technological progress has played an absolute leading role in promoting the decoupling effect. Based on the research results, the key policy recommendation are put forward as follows: (1) Further improve the technological level and support clean technology enterprises. (2) Promote industrial upgrading in backward industrial provinces (3) Promote regional assistance and the introduction of high-quality foreign investment.

In this paper, we use financial data of Chinese listed companies from 2010 to 2020 to explore the relation between working capital financing structure and firm value under certain monetary policy and macro economy situation. We find that when monetary policy expands, the use of aggressive working capital financing structure is conducive to value maximization; when the macroeconomic situation is good, the aggressive working capital financing structure helps to improve firm value. Further study finds that monetary policy expansion urges firms to use more short-term debt to cut capital cost, and better macroeconomic situation can cut firm’s bankrupt cost to bring down working capital financing structure and improve firm value.

AbstractMany developing countries are facing the difficulty of choosing between economic growth and energy conservation and emission reduction (ECER). China has strengthened the implementation of ECER by setting environmental accountability as the development goal of local governments, hoping to have better governance effects. To evaluate the actual intervention effect of this approach, this paper constructs panel data covering 46 countries from 1995 to 2014 and uses the difference-in-differences (DID) method and the composite control method to quantitatively analyse the policy effect. The results show that China can effectively curb energy consumption and carbon emission intensity per unit of GDP by adding ECER targets to the government’s five-year plan, which has significant effects on ECER. Furthermore, we use an intermediary mechanism to test and identify low-carbon alternatives and an ECER promotion mechanism for technological advancement. The conclusion shows that economic development is compatible with low carbon and energy consumption. Combined with China’s long-term goals for ECER, it can be considered that on the road to achieving carbon peaking and carbon neutrality in the future, the economy and tertiary industry should be rationally developed, the degree of urbanization should receive more attention, and the proportion of thermal power generation should be reduced.

Access to reliable and affordable energy is vital for sustainable development. In the off-grid areas of developing countries, decentralized energy solutions have received increasing attention due to their contributions to reducing poverty. However, most of the rural population in many developing countries still has little or no access to modern energy technologies. This paper assesses the factors that determine the successes and failures of decentralized energy solutions based on local harmonized case studies from heterogeneous contexts from Asia, sub-Saharan Africa, and South America. The case studies were analyzed through the coupled lenses of energy transition and the Water–Energy–Food Security (WEF) Nexus. The findings indicate that access to modern decentralized energy solutions has not resulted in complete energy transitions due to various tradeoffs with the other domains of the WEF Nexus. On the other hand, the case studies point at the potential for improvements in food security, incomes, health, the empowerment of women, and resource conservation when synergies between decentralized energy solutions and other components of the WEF Nexus are present.

Abstract To empirically verify whether financial risk affects global carbon emissions, this study investigates the financial risk-emission nexus by employing a global balanced panel dataset of 62 countries over the period 2003–2018. Furthermore, we explore the mediation effect of technological innovation on the financial risk-emission nexus. Fully considering potential regional heterogeneity and asymmetry, this study further analyzes the heterogeneous and asymmetric relationships among the variables, such as the difference between regional comprehensive economic partnership countries and other countries. The empirical results indicate that: (1) a mediation effect between financial risk and global carbon emissions exists; in other words, increased financial risk not only reduces global carbon emissions directly, but can also have an indirect impact in mitigating carbon emissions by promoting technological innovation; (2) the impacts of financial risk and technological innovation on global carbon emissions show significant regional heterogeneity; and (3) financial risk and technological innovation show asymmetry across different quantiles. To be specific, technological innovation and financial risk have a significant inhibitory effect on global carbon emissions only in the 10th quantile, while promoting carbon emissions in other quantiles.

Carbon emission reduction is a long-term strategy for China to promote its economic and social development. However, emission reduction often involves a huge amount of technological investment, which could vary substantially across different provinces due to their discrepancy in economic and technological development levels. Emission trading as a useful policy instrument may help different provinces achieve their emission reduction targets cost-effectively. This paper models the economic performance of an interprovincial emission reduction quota trading scheme in China. The marginal abatement cost curve of each province in China is first estimated. A nonlinear programming model is further developed to evaluate the economic performance of interprovincial emission reduction quota trading. Five equity criteria are used to conduct the initial allocation of emission reduction targets between different provinces. Our modeling results show that China’s total emission abatement cost could decrease by over 40% through implementing such an interprovincial emission reduction quota trading scheme. Of the five alternative criteria, the CO2 emissions and population criteria look fairer and are recommended for use in the initial allocation of CO2 emission reduction targets.