Exploring the potential of the carbon credit program for hedging energy prices in Brazil.

The transition to a low-carbon economy is imperative to reduce reliance on fossil fuels and mitigate pollution emissions. This preposition also aligns with the United Nations Sustainable Development Goals (SDGs-13), which highlight the climate change action. In this vein, Brazil has implemented the Decarbonization Credit (CBIOS) program to incentivize biofuel production and promote environmental sustainability through carbon credit emissions. To this end, the present study evaluates the effectiveness of the CBIO contract as a hedging tool for investors in the face of energy price fluctuations and decarbonization efforts. Specifically, we employ conditional dynamic correlation (DCC-GARCH) and optimal hedge ratio (HR) techniques to assess the relationship between CBIO and the futures and spot prices of sugar, oil, and ethanol. Our findings suggest that the current CBIO contract is not an effective hedge against energy spot and future prices. However, our analysis identifies a strengthening correlation between ethanol traded in Chicago and CBIO over time, highlighting the potential for an underlying contract to serve as an effective hedging tool in the future. Our study adds to the existing literature on carbon pricing mechanisms and their impact on financial markets, emphasizing the importance of sustainable energy policies and their potential to mitigate the risks associated with energy price volatility and decarbonization efforts.

Coal consumption-environmental sustainability nexus in developed and developing major coal-consuming economies.

Coal is crucial for economic progress but equally baneful to the environment. Thus, the coal consumption-environmental sustainability nexus attracted the attention of both policymakers and scholars. This study evaluates the coal consumption-environment nexus in developed and developing countries over the period 2000-2020. We used panel data econometric techniques and the Augmented Anderson-Hsiao (AAH) two-step GMM estimator to assess and compare the impact of coal consumption on CO2. The findings revealed that the consumption of coal aggravates environmental pollution and hinders environmental sustainability. Thus, this study confirms the environment-destroying effect of coal consumption. However, the findings reveal that the negative consequence of coal consumption on the environment is more for the sample of developed countries than that of developing countries. This suggests that coal use harms the environment developed economies than the developing countries. Specifically, we found that the carbon emissions emanating from a one percent (1%) increase in coal consumption of the developed countries is about six-fold more than that of the developing countries. Therefore, this study suggests a gradual phase-out, rather than sudden phase-out, of coal consumption with greater emphasis on developed countries. The implementation of the coal phase-out policy and the removal of fossil fuel subsidies should start with the developed countries or be made more stringent in such countries than the developing economies. The developed countries should relinquish a greater proportion of their coal consumption than the developing countries.

Exploration on terrorism, ecological footprint and environmental sustainability in countries with the most terrorism antecedent: Accessing evidence from panel fourier analysis.

Amidst increased concerns for global security and ecological balance, the intricate interconnectedness between terrorism and environmental sustainability has attracted significant attention in the existing literature. To this end, the present study explores the interaction among environmental degradation, terrorism, and foreign direct investments in 17 countries with the most terrorism antecedents over the 2002-2018 period through the Panel Fourier cointegration test and the Panel Fourier Toda-Yamamoto causality test. The present study also leverages recent and robust panel analysis for evidence-based results and inferences for policy formulation. The panel Fourier cointegration test presents the cointegration relationship between the outline variables under review. Empirical findings highlight that terrorism does not have a significant influence on the ecological footprint. However, foreign direct investment has a positive influence on the ecological footprint. These findings have implications for environmental sustainability and foreign direct investment inflows in the bloc investigated. More insights are discussed in the concluding section with policy caveats.

A bibliometric review analysis into environmental kuznets curve phenomenon: A retrospect and future direction.

The present study presents a retrospect into environmental Kuznets curve hypothesis (EKC). The EKC debate is dated over four decade long and worthy of empirical scrutiny. To this end, the present study leverages on over 200 previous studies curated from SCOPUS and Web of science (WOS) core collection database respectively. The present study also presented both literature schematic on the evolution, trends, gaps, and future directions on the EKC debate. This paper endeavors to enhance our comprehension of the inherent paradoxes present in sustainability discourses by delving into the fundamental assumptions underlying the Environmental Kuznets curve (EKC). By conducting a bibliometric analysis, we aim to shed light on the factors contributing to the prominence of thematic keywords within sustainability discourses. This study seeks to provide valuable insights into these dynamics and implications on sustainability debates. Key empirical findings outlines predominant and influential studies and journal outlets on the theme under consideration. The present study bibliometric analysis displays that Ozturk i. with 13 published papers 3153 citations and a link strength of 2, Dogan e. Had 7 papers with 2190 citations with no link strength, Shahbaz. B 7 papers 1347 citations and 1 link strength, Saboori b.7 papers 677 citations 1 strength link and Liu y. 6 papers 582 citations with no link strength. From a policy dimension, the present bibliometric study presents valuable depth on the evolution and development of the EKC phenomenon by identifying's the extant literature leaders, action-step for future studies on environmental sustainability without compromise on economic growth as the EKC theme express the tradeoff between economic growth and environmental degradation. Further insights are rendered in the concluding section.

A research landscape bibliometric analysis on climate change for last decades: Evidence from applications of machine learning.

Climate change (CC) is one of the greatest threats to human health, safety, and the environment. Given its current and future impacts, numerous studies have employed computational tools (e.g., machine learning, ML) to understand, mitigate, and adapt to CC. Therefore, this paper seeks to comprehensively analyze the research/publications landscape on the MLCC research based on published documents from Scopus. The high productivity and research impact of MLCC has produced highly cited works categorized as science, technology, and engineering to the arts, humanities, and social sciences. The most prolific author is Shamsuddin Shahid (based at Universiti Teknologi Malaysia), whereas the Chinese Academy of Sciences is the most productive affiliation on MLCC research. The most influential countries are the United States and China, which is attributed to the funding activities of the National Science Foundation and the National Natural Science Foundation of China (NSFC), respectively. Collaboration through co-authorship in high-impact journals such as Remote Sensing was also identified as an important factor in the high rate of productivity among the most active stakeholders researching MLCC topics worldwide. Keyword co-occurrence analysis identified four major research hotspots/themes on MLCC research that describe the ML techniques, potential risky sectors, remote sensing, and sustainable development dynamics of CC. In conclusion, the paper finds that MLCC research has a significant socio-economic, environmental, and research impact, which points to increased discoveries, publications, and citations in the near future.

Examining obesity kuznets curve in the United States from the perspective of globalization and biocapacity.

Given the recent rise in the adult obesity prevalence in the United States, the central and state-level governments and health agencies in the country are considering appropriate measures. Further motivation for this investigation stems from the United Nations Sustainable Development Goals (UNSDG-3, 8, and 13), that highlights the need for sustainable health for all, sustainable decent economic growth amidst environmental sustainability. Driven by this motivation, this study investigates the validity of Obesity Kuznets curve (OKC) in the United States over the experimental period of 1975-2016. In addition, this study illustrates the (mediating) role of globalisation and biocapacity in controlling the prevalence of obesity in the United States. While the study established the validity of obesity Kuznets curve, especially in the short run, it found an inverted U-shaped relationship between globalisation and obesity for the United States. This interprets that a significant reduction in wealth-related health issues is achievable with increased (socioeconomic and political) globalisation policy amidst improved (socioeconomic) welfare of the Americans. Moreover, biocapacity showed a desirable impact on obesity since the short- and long-run relationship with a respective elasticity of 0.02 and 1.86 is negative and statistically significant. In general, this study puts forward policy from the perspective of socioeconomic and political globalisation and domestic welfare measures across the country.

Empirical analysis of South African's urbanization growth and export demands: implications for environmental sustainability.

South African economy is widely known to contribute significantly to the carbon emissions due to usage of heavy machinery and equipment involved in production process. This study examines the linkage among carbon emissions, export, gross domestic product, and urban population growth in South Africa. The study employs the Autoregressive Distributed Lag model to evaluate the linkage among outlined variables, using annual data from 1981 to 2021. The findings indicate that a 1% increase in urban population leads to 1% decrease in carbon emissions. Furthermore, a 1% increase in economic activities (GDP) leads to a rise in carbon emissions. This corroborates rising exports with GDP that is rising thereby resulting in carbon emissions. The study recommends platforms that educate the populace, especially the youth on the management of carbon emissions in their daily home and business activities should be encouraged. More investment into clean technologies should be provided for energy efficiency machinery, and more research into such activities should be pursued by all relevant stakeholders.

Sustainable electricity consumption in South Africa: the impacts of tourism and economic growth.

The current study examines sustainable electricity consumption for economic growth in a small open and tourist economy. The energy-tourism nexus is evaluated for the relationship between sustainable electricity consumption and the international tourist arrival for the South African economy. The present study leverages on annual frequency data for South Africa from 1995 to 2019 for empirical analysis using the ARDL technique. Accordingly, empirical findings indicate a significant direct connection between the sustainable electricity consumption and the international tourism arrival; the study affirms that tourism-induced energy hypothesis is valid in South Africa. However, from a policy standpoint, alternative energy efficiency mechanisms such as renewable energy systems and emancipation of current energy management capabilities are recommended in South Africa. This is necessary for sustainable eco-friendly tourism that engenders clean energy consumption for the study area. More insights into policy caveats are presented in the concluding section.

An empirical assessment of the tripartite nexus between environmental pollution, economic growth, and agricultural production in Sub-Saharan African countries.

A lot of attention has been paid to environmental pollution worldwide, due to the increase in anthropogenic activities. Massive investment in non-renewable energy options raises questions regarding environmental sustainability and how to maximize food and non-food output while still preserving a healthy ecosystem. To this end, the present study explores the three-way nexus between economic growth, CO2 emission, and agriculture-value added will accounting for other control variables across a balanced panel of selected African economies from 1997 to 2020. Panel econometrics method of the generalized method of moments (two-step difference GMM) is used to obtain a robust result. From the present study, the environmental pollution model shows that economic growth significantly contributes to environmental pollution in Africa. Additionally, the food price index, capital, and FDI promote pollution, while agricultural production and labor decrease pollution. In the case of the economic growth model, the findings reveal that environmental pollution supports the growth-led pollution hypothesis. Also, the food price index and capital ameliorate economic growth, while foreign direct investments decrease economic growth. Finally, the agricultural production model indicates that economic growth increases agricultural production when the interaction term between GDPC and FDI is included in the model. In summary, the combination of explanatory variables, environmental pollution, capital, and foreign direct investment decreases agricultural production. On the contrary, the food price index and labor promote agricultural production in Africa. Furthermore, the study provides a lot of policies for authorities and stakeholders in Sub-Saharan African countries and other developing economies.

Toward a sustainable growth path in Arab economies: an extension of classical growth model.

Background/Objectives: Many economies are on the trajectory of alternative growth drivers other than conventional capital and labor. Access to credit facilities is a pertinent indicator of economic growth. In line with the United Nations Sustainable Development Goals (UNSDGs-8) agenda, the national goal for sustainable development for most economies and Arab economies is no exception. Therefore, the current study adopts a traditional growth model by exploring the relationship between gross domestic product (GDP) per capita, credit for private sectors, ratio of exports, real GDP, and per labor force participants for selected Arab economies annually from 2001 to 2020. Research design: This study leverages the Fourier Kwiatkowski-Phillips-Schmidt-Shin (KPSS) unit root test and second-generation panel econometrics as estimation techniques, such as Westerlund and Edgerton panel cointegration test, and the use of two estimators, namely the augmented mean group (AMG) and common correlated error mean group (CCEMG), to obtain robust results. Findings: Empirical findings from Westerlund and Edgerton panel cointegration tests validate the long-run equilibrium relationship among the outlined variables. Further empirical results indicate that the share of exports is negatively significant with economic growth in countries such as Kuwait, Lebanon, Tunisia, and Jordan. Additionally, savings and labor force participation have a positive relationship with economic growth in individual countries such as Algeria and Bahrain. As per the panel, there is no significant relationship between labor force participation and economic growth. This indicates that the skilled labor force enhanced economic growth. Conclusions: These findings come with inherent far-reaching policy suggestions for economies and panels. Further details on country-specific policy actions are presented in the concluding section.

Ecological risks and innovative-investment projects.

Market competition is becoming fiercer all around the world and countries pay considerable attention to their innovative-investment environment. Rapid global economic development and infinite resource extraction have damaged the environment and the harmful environmental effect has become increasingly significant. Thus, technological innovation occupies an important place in the discussion of developmental issues. Previous studies on innovative projects were focused largely on how technological innovations allow us to prevent financial risks and enter the market. However, it is necessary to pay attention to environmental risks arising from successful technological innovations. Thus, this study focused on the nexus between ecological risks and innovative investment. Specifically, the study considers the environmental risks of innovation. The findings reveal that investment in innovations and environmental protection measures can be carried out simultaneously for both ecological and economic targets. To control and prevent environmental risks of technological innovations, there should be a shift from industrial technological innovations to environmental technological innovations to achieve the unity of economic benefits and environmental interests. Such an approach preserves social and public interests and ensures sustainable development.

Empirical analysis into the nexus between energy consumption, economic growth, and natural resources in D-8 bloc: evidence from panel causality analysis.

THe importance of the impact of natural resources on economic growth is an important issue with a long history in the energy and environment literature. It is seen that the studies conducted in this field are generally shaped by the "resource curse hypothesis," a hypothesis that highlights the trade-off between economic growth and resource abundance in the growth literature. However, the extant literature have presented inconclusive results. This study aims to examine the direction of causality between capital, energy use, energy imports, exchange rate, natural resources, and per capita income in countries that are rich in natural resources and consist of developing countries (D-8). In this context, first of all, the existence of CD test was determined, and then the stationarity of the variables was determined with the CADF unit root test. Then, whether the slope coefficients of the variables were homogeneous or not, it was decided that they were heterogeneous. Finally, the direction of causality between the variables was examined with the Dumitrescu-Hurlin panel causality test applied to heterogeneous panels. The empirical analysis results show a unidirectional causal relationship from capital to GDP per capita and from GDP per capita to energy use. In addition, while a two-way causality relationship was determined between the exchange rate and GDP per capita, no causal relationship was found between energy imports, natural resources, and per capita income. These results have macroeconomic implications and spillover effects on the energy mix of D-8 economies. In addition, no causal relationship was found between natural resources and GDP per capita in this country group and within the scope of the analysis period. Policy recommendations are highlighted in the conclusion.

Toward the Fourth Industrial Revolution among E7 Economies: Assessment of the Combined Impact of Institutional Quality, Bank Funding, and Foreign Direct Investment.

Technological innovation and its paradigm, that is, the Fourth Industrial Revolution-4IR, have shown strong impact on income levels of adopters across the globe. To this end, this analysis examines the impact of bank funding and institutional quality on technological advancement. This study adds additional variables such as high-technology exports and foreign direct investment (FDI) as control variable. Our study period spans from 2000 to 2018 on an annual frequency for E7 economies (Brazil, Indonesia, Mexico, India, Turkey, Russia, and China). This study leverages on cross-sectional ARDL, Augmented Mean Group (AMG), and Common Correlated Effects Mean Group Estimates (CCEMG) estimation techniques to examine long-run relationship between the outlined variables. Empirical findings show that institution quality, bank finance, income, high-technology exports, and foreign direct investments exert a positive effect on advancements in technology. Furthermore, the interaction between bank finance and institution quality on technological advancement is also positive and statistically significant. Based on the findings, it is concluded that large-scale funding is crucial for businesses to leverage revolutionary technology. Likewise, access to large capital sources if made easier encourages technology affordance as well as innovation and operational excellence. Thus, economies with established legal and financial systems stand to offer businesses such security, which encourages business innovation. Consequently, E7 economies ought to improve their financial and legal systems to boost financial security, creativity, and competitiveness of businesses.

Environmental sustainability and ecological balance dilemma: accounting for the role of institutional quality.

Global warming is a global menace mainly driven by human anthropogenic activities. There is a need for environmental sustainability amidst increased economic growth. To this end, this study draws motivation from the United Nations Sustainable Development Goals (UNSDGs) with special focus on climate change mitigation and ecological balance. Thus, the present study analyses the dynamic relationship between economic growth, conventional energy consumption, access to technological innovation, economic globalisation, and the pertinent role of institutional quality for the case of the Russian Federation. This study employed novel combined Bayer and Hack cointegration test in conjunction with Pesaran's ARDL bounds testing for robustness. Both tests validate a long-run equilibrium relationship between the outlined variables. Furthermore, empirical results show that increase in economic activities and consumption of energy that stem from a fossil-fuel basis both have deteriorating effect on environmental sustainability for Russia. Additionally, effect of globalisation shows mixed results, such as, in the short run, economic globalisation dampens environmental quality as increase in global integration exacerbates environmental quality, while, in the long term, globalisation improves the quality of the environment. On the contribution of institutional quality, it improves environmental sustainability over the investigated period. Interestingly, renewable is seen as a panacea for environmental sustainability in the Russian Federation given its pertinent effect to improve the environment of Russia. From a policy lens, there is need for a paradigm shift to renewables and clean technologies to mitigate the effect of climate change issues. The concluding section presents more policy strategies.

Estimating the energy consumption function: evidence from across the globe.

The motivation for the current study stem from the United Nations Sustainable Development Goals (UN-SDGs) such as access to clean (SDG-7) and responsible energy consumption (SDG-12) and climate change mitigation (SDG-12). This chase for these goals is pertinent for sustainable economic growth and environmental sustainability. This becomes necessary given the global demand for energy which comes has it environmental consequences given anthropogenic effect. To this end, the present study seeks to identify the factors determining the energy consumption function for 79 economies across the globe. For empirical investigation, 44 years data of five regions, namely Asia and Pacific, Europe, Africa, Latin America, and the Middle East and Arab States, is analyzed. A multivariate regression model and the method of least squares are employed to achieve set of objectives. The least squares result of the regions and single country of the regions are not significantly different from each other. Every region exhibits a common narrative that economic growth, carbon emissions, and urbanization are the key factors determining the consumption function in most of the sample economies. The empirical findings revealed that energy consumption function is determined by economic growth, urbanization, and carbon emissions. In the light of these findings, it is recommended that energy policy needs to be designed considering the significance of economic growth and environmental quality, and consequently it leads toward the achievement of the sustainable development goals.

Environmental consequences of foreign direct investment influx and conventional energy consumption: evidence from dynamic ARDL simulation for Turkey.

The preponderance of emerging economies confronts significant trade-offs between economic growth and environmental sustainability considerations, and Turkey is no exception. This study draws strength from the United Nations Sustainable Development Goals (UN-SDGs-7,11,12 & 13). To this end, the present study explores the role of the environmental Kuznets curve (EKC) hypothesis for the case of Turkey for annual frequency data from 1970 to 2020. The present study leverages on the novel dynamic autoregressive-distributed lag (DARDL) methodology and Bayer and Hanck combined cointegration test. The combined Bayer and Hanck cointegration test alongside ARDL bounds test traces equilibrium relationship between economic growth, urbanization, FDI, energy use, and CO2 emission over the investigated period. Empirical results from the DARDL simulation analysis validates the EKC hypothesis. These results suggest that environmental quality is being compromised for economic growth at the earlier stage of economic growth (scale stage). The EKC phenomenon is affirmed as a 1% increase in economic growth increase emission level by 0.1580% and quadratic economic growth decrease emission by 0.1095% in the short and long run, respectively. Similarly, urbanization and energy used in both the short and long run also worsen environmental quality while FDI influx in the long run improves environmental quality in Turkey. These outcomes have far-reaching environment-urbanization growth implications. From a policy lens, the current study subscribed to the environmental stick policies and investment on strategies on a paradigm shift from fossil-fuel energy consumption base to renewables. Further insights are highlighted in the concluding section.

Towards a clean production by exploring the nexus between agricultural ecosystem and environmental degradation using novel dynamic ARDL simulations approach.

Agriculture, which serves as a lifeline for us, is unequivocally vital for an agriculture-dependent economy like Bangladesh, not only for its food supply but also because of its significant contribution towards achieving Sustainable Development Goals (SDGs) 1 and 2. However, in a third-world nation like Bangladesh, where farming practices largely circumvent the environmental consequences, raised our concern. In this milieu, this study is a novel attempt to explore the association between agricultural ecosystem and environmental degradation in Bangladesh using a long time spanning from 1972 to 2018. We observed a long-run association between the agroecosystem and CO2 emission. Further, findings from the dynamic autoregressive distributed lag (DARDL) simulation model revealed that the environmental quality of Bangladesh is heavily distorted by total cereal production, total livestock head, enteric methane emissions, N2O emissions from manure application, and CO2 equivalent N2O emissions from synthetic fertilizers in the short and long run, whereas agricultural technology, pesticide use in agriculture, and burned biomass crop residue deteriorated the environmental quality only in the long run. The counterfactual diagram entailed from the DARDL model projected the trend of CO2 emission in response to positive and negative changes in the analyzed variables. Lastly, this study established a causal relationship between the agroecosystem and environmental degradation using frequency domain causality. Indeed, our study will aid in reshaping agricultural practices in an eco-friendly manner to mitigate environmental degradation and help formulate pragmatic policy actions so that agro-lead nations can thrive in the race of achieving SDGs 1, 2, and 13.

Synthesizing urbanization and carbon emissions in Africa: how viable is environmental sustainability amid the quest for economic growth in a globalized world?

Global emission statistics show that Africa is among the least carbon-emitting continents. However, the rising drive for economic growth amid urbanization and globalization in recent years has continued to attract the attention of policymakers to the attendant potential environmental risks. Hence, using robust empirical techniques, this study examines the impacts of increasing urbanization alongside its interactions with energy portfolios on environmental prospects of 15 selected African countries including the most urbanized and leading oil producers in the continent of Africa. The results of the analysis produced insightful implications for achieving both environmental and economic sustainability for the understudied countries. Firstly, the trio of urbanization, economic globalization, and income levels aggravate environmental degradation among these countries as they were found to be essential drivers of carbon emission levels over the understudied period (1990-2015). Secondly, while urbanization significantly poses threat to environmental sustainability, the evidence obtained regarding its interaction with energy portfolios of the understudied countries differs. The significant detrimental environmental impacts of the interaction between urbanization and energy portfolios were only confirmed in the context of fossil energy consumption among the countries, while renewables exist as a significant decarbonization channel within the framework of the increasing level of urbanization among the countries. Thirdly, the study upholds the EKC conjecture. Hence, policymakers and authorities in Africa should capitalize on maximizing the benefits of the huge renewable resource potentials on the continent through adequate investments in green energy technologies for urban infrastructures toward the realization of sustainable development goals (SDGs 11 and 13).

Tourism-induced emission in Sub-Saharan Africa: A Panel Study for Oil-Producing and Non-oil-Producing countries.

The tourism industry is undoubtedly among the largest contributors to economic growth and employment generation in most economies of the world, and Africa is not an exception as outlined by World Tourism Organization (UNWTO). Thus, many countries in sub-Saharan Africa (SSA) are paying more attention to tourism development as alternative growth path to boost their economies. However, the tourism-induced growth is not void of its environmental issues. To this end, this study using recent econometrics analysis explored the nexus between tourism arrival GDP growth, urbanization, carbon dioxide emission, and foreign direct investment for oil and non-oil sub-Saharan Africa (SSA) countries, that is, to ascertain the real impacts of tourism and FDI on the environmental performance of the regions. Empirical results show that tourism, GDP growth, and FDI dampen the quality of the environment. For instance, a 1% increase in tourism activities worsens the quality of the environment by 1.09%. Interestingly, renewable energy shows statistical strength to improve environmental quality. The causality analysis resonates with the outcomes of the regression by giving credence to one-way causality between tourism and carbon dioxide emission. A similar trend of causality is seen between FDI and carbon dioxide emission and urbanization and carbon dioxide emission. Thus, as a policy prescription, strict environmental guidelines and regulations are necessary for controlling the unhealthy and undue economic activities that are suspected to impact environment negatively.