Energy and Industrial Growth in India: The Next Emissions Superpower?

Modelling the asymmetric effects of renewable and nonrenewable energy consumption and financial development on CO2 emissions in India: Empirical findings from the NARDL and Wavelet Coherence Approach

A major challenge for humans in the twenty-first century is devising a way to minimize environmental pollution while fostering economic growth that will not deplete the planet's resources. Despite increased awareness of climate change and efforts to combat it, the amount of pollution emissions on the Earth continues to drop significantly. This study employs cutting-edge econometric methods to examine the long- and short-term asymmetric and causal impacts of renewable and non-renewable energy consumption and financial development on CO₂ emissions in India at both aggregate and disaggregated levels. Thus, this work fills a significant gap in research. A time series from 1965 to 2020 was used for this study. Wavelet coherence was employed to investigate causal effects among the variables, while the NARDL model addressed long-run and short-run asymmetry effects. Our findings indicate that (i) REC, NREC, FD, and CO₂ emissions are all interconnected in the long run, (ii) NREC and FD significantly trigger CO₂ emissions in India in the long run, and (iii) the results of a wavelet coherence-based causality test support the long-term estimates of this study.

Drivers and Barriers to Industrial Energy Efficiency in Textile Industries of Bangladesh

Bangladesh faced a substantial growth in primary energy demand in the last few years. According to several studies, energy generation is not the only means to address energy demand; efficient energy management practices are also very critical. A pertinent contribution in the energy management at the industrial sector ensures the proper utilization of energy. Energy management and its efficiency in the textile industries of Bangladesh are studied in this paper. The outcomes demonstrate several barriers to energy management practices which are inadequate technical cost-effective measures, inadequate capital expenditure, and poor research and development. However, this study also demonstrates that the risk of high energy prices in the future, assistance from energy professionals, and an energy management scheme constitute the important drivers for the implementation of energy efficiency measures in the studied textile mills. The studied textile industries seem unaccustomed to the dedicated energy service company concept, and insufficient information regarding energy service companies (ESCOs) and the shortage of trained professionals in energy management seem to be the reasons behind this. This paper likewise finds that 3–4% energy efficiency improvements can be gained with the help of energy management practices in these industries.