The impact of fiscal decentralization, green energy, and economic policy uncertainty on sustainable environment: a new perspective from ecological footprint in five OECD countries

Unleashing sustainability in uncertain times: Can we leverage economic complexity, uncertainty, and remittances to combat environmental degradation?

Rapid economic growth and human activities have seriously damaged the environment and hindered the achievement of Sustainable Development Goals (SDGs). Hence, this study aims to explore the impact of economic complexity, uncertainty, and remittance on environmental degradation in 134 countries from 2000 to 2022. In addition, it examines whether uncertainty moderates the relationship between remittance and environmental degradation. Two proxies (ecological footprint and CO2) were used to measure environmental degradation. The analysis was conducted using a cross-sectional dependency test, second-generation unit root test, and panel quantile regression. The results revealed that economic complexity significantly and positively impacted environmental degradation, while uncertainty and remittance significantly and negatively impacted environmental degradation. Furthermore, uncertainty weakened the negative relationship between remittance and environmental degradation. Accordingly, this paper discusses various recommendations and policy implications regarding economic complexity, uncertainty, remittance, and environmental degradation.

The dampening effect of geopolitical risk and economic policy uncertainty in the linkage between economic complexity and environmental degradation in the G-20

The question remains whether high geopolitical risk and economic policy uncertainty will have a dampening or enhancing effect on pollution factors. In this regard, the study empirically investigates the effects of economic complexity, geopolitical risk, economic policy uncertainty, renewable energy consumption and economic growth on environmental pollution for G-20 countries from 1997 to 2018. The long-term coefficient estimates, derived from the FMOLS estimator, support the inverted U-shaped EKC linkages between economic complexity and ecological footprint, carbon footprint and carbon dioxide emissions. Furthermore, over the long term, geopolitical risks, renewable energy use, and the interaction between economic complexity and policy uncertainty have a positive impact on environmental quality in the G-20 economies. Conversely, economic growth and the interaction between economic complexity and geopolitical risk are negatively associated with environmental quality. Additionally, economic policy uncertainty has a positive effect on ecological footprint carbon footprint and carbon dioxide emissions. Finally, causality results revealed that explanatory variables are the cause of environmental pollution indicators. Hence, in order to advance environmental quality in these nations, precautions must be taken to mitigate the effects of economic policy uncertainty and boost the accessibility of renewable energy sources. Additionally, while not advised as a policy measure, the feasible economic fallout of geopolitical risk should also be considered.

Creating an indicator system for the United Nations Sustainable Development Goals in communities and municipalities: Application and analysis in an Austrian case study

Sustainability indicators should implement the United Nations Sustainable Development Goals (UN SDGs). Indicators in literature often consider large sets of actions and are thus complex in application. Therefore, this work derives energy- and resource-related SDG indicators for communities and municipalities with low complexity. Moreover, this work analyzes three different policy paths to promote SDG contribution. The policy paths consider SDG target settings and two different incentive schemes in the form of penalties and investment subsidies. The indicators and policy actions are applied in two case studies for communities and municipalities in Austria. Therefore, an optimization model that considers the case study setups, SDG targets and policy actions is developed. The modeling approach shows applicability and positive contribution to sustainable development by indicators. Moreover, the results show the applicability of the three policy paths. Implementing the target-setting path directly leads to the desired SDG targets and provides insights into the costs for target achievement. The incentive scheme paths also lead to selected targets, but they require a cost assessment of the provided incentive schemes. A combination of both incentive schemes leads to the lowest costs. However, policymakers should implement a workflow that considers all three policy paths for policy action settings.

Exploring the asymmetric effect of fiscal decentralization on economic growth and environmental quality: evidence from India

In recent years, environmental issues have become controversial, and policymakers are discovering new predictors of carbon emissions. Some economists/researchers have advocated for fiscal decentralization to improve the quality of the environment by offering more financial authority to provincial/local and sub-national governments. Therefore, this work aims to inspect the effect of fiscal decentralization on economic growth and environmental quality in India by taking data from 1996 to 2021. This work applies both ARDL and NARDL econometric models for empirical examination. The findings of this study suggest that expenditure decentralization has asymmetric long-term and short-term consequences on economic growth, and carbon emission in India. The result of the asymmetric ARDL model also indicates that positive and negative shock in expenditure decentralization contrarily affects economic growth and carbon emission. Moreover, the positive and negative shock in revenue decentralization helps in reducing carbon emissions both in the long run and short run in India. These outcomes are useful for policy analysis from the Indian economic policy perspective. The study also laid out potential outcomes that may benefit India's local governments and central government in resolving the issues of economic growth and environmental degradation.

New data regarding the identification of critical raw materials recoverable from raw, processed and the waste mining industry materials from Romania

Several EU initiatives focused on renewable energy, sustainable infrastructure and green transport require a sustainable supply of a wide range of raw materials. The increase in the population and, implicitly, the increasing demand for necessary resources led to accelerated degradation of the environment, a pressing issue which the contemporary world faces. The mining activities produced huge amounts of waste, which may now become a potential secondary raw materials source that offer the potential to extract critical mineral elements of current interest. This study is intended as a historical literature data processing combined with recent analyses according to modern test methods to confirm the presence of selected critical raw materials (CRMs). The aim of the work was an integrated approach to identify the presence of Ga, In, Ge, Bi, Co and Te in ore, ore concentrates, tailing ponds and ore dumps from some Romanian historical mining regions: Apuseni Mountains (5 deposits) and the northern part of the Eastern Carpathians (Baia Mare area 2 deposits and Fundu Moldovei area 1 deposit). The consulted literature data highlighted that the tailing ponds and dumps from Romania contain a noticeable quantity of secondary resources of critical elements, respectively, an average of 2172 mg/kg Bi, 1737 mg/kg Co, 691 mg/kg Ga, 667 mg/kg In, 74 mg/kg Ge and 108 mg/kg Te in ore and 1331 mg/kg Ga, 1093 mg/kg Co, 180 mg/kg Bi, 72 mg/kg In and 35 mg/kg Ge in tailings. The overall statistics for the 2008-2018 period show a decrease in the amount of hazardous waste produced by the extractive industry in Romania. The older literature data (from about 50 years ago) for the investigated deposits was confirmed by the laboratory analysis of selected CRMs from several samples collected from known former and current mining activities. Furthermore, the optical microscopy investigations coupled with modern electronic microscopy and quantitative and semi-quantitative techniques have provided further details regarding the sample nature and constituents. High levels of Bi (35,490 mg/kg) and Sb (15,930 mg/kg) were determined in samples from Băița Bihor and Coranda-Hondol ore deposits (Apuseni Mountains), and the presence of some rare elements such as Te was also detected. The recovery of critical elements present in the mining waste significantly contributes to the transition to a circular economy that is essential for the development of a sustainable and resource-efficient economy. This study enables future research focused on the recovery of critical elements present in the mining waste, with benefits for the environment, economy and society.

Impact of economic policy uncertainty, geopolitical risk, and economic complexity on carbon emissions and ecological footprint: an investigation of the E7 countries

There is a plethora of studies on the energy-consumption-environmental-quality nexus. Nevertheless, empirical research on the impact of global uncertainties on environmental quality is lacking. This study contributes to the literature by examining the impact of economic policy uncertainty (EPU), geopolitical risk (GPR), and economic complexity on the ecological footprint and carbon emissions of E7 economies for the period 1995-2018. Our empirical results indicate a long-term relationship between economic complexity, EPU, GPR, energy consumption, and two environmental quality indicators, carbon dioxide emissions and ecological footprint. In the long run, a divergence from disequilibrium takes 3 years to return to the equilibrating position. The environmental effects of key determinants are different in terms of direction, magnitude, and time span. Specifically, an inverted U-shape describes the relationship between economic complexity and environmental degradation in the long-term only, which confirms the environmental Kuznets curve (EKC) hypothesis. The environmental effects of EPU and GPR are harmful in the short run but prove to be beneficial in the long run. Higher energy consumption significantly degrades environment quality as expected. Based on these findings, the paper provides several useful suggestions for policymakers in the context of E7 countries.

The role of economic policy uncertainty and social welfare in the view of ecological footprint: evidence from the traditional and novel platform in panel ARDL approaches

In the contemporary world, environmental degradation has become a concern for human beings. Accordingly, the impact of social welfare, economic policy uncertainty, natural resource rents, life expectancy, and trade openness are examined on ecological footprint (the most comprehensive proxy of environmental degradation) in 19 energy-intensive countries from 1997 to 2018. With this in mind, this study used the traditional panel ARDL and CS-ARDL approaches to evaluate how the study's variables influence ecological footprint. Notably, the results of the CS-ARDL approach are more robust due to cross-sectional dependence and slope heterogeneity problems. The outcomes revealed that economic policy uncertainty and trade openness affect the ecological footprint negatively in the short run and positively in the long run. Moreover, social welfare degrades the environment in the long run, and natural resource rents improve environmental quality by mitigating the ecological footprint in the short run and harming the environment in the long run. Besides, life expectancy does not significantly affect ecological footprint in the long or short run. Meanwhile, the results confirmed the bi-directional causal relationship between the study's variable and ecological footprint. Based on the outcomes, the way to adopt effective policies to improve the quality of the environment has been paved. Furthermore, a comprehensive policy framework for stricter environmental regulation is expected to be developed using the outcomes derived from this study.