Linking tourist's footprint and environmental tragedy through transportation, globalization and energy choice in BIMSTEC region: Directions for a sustainable solution using novel GMM-PVAR approach

Environmental beliefs, childhood behaviour or habits - Which best explains adult pro-environmental behaviour on vacation?

Tourist behaviour contributes significantly to the industry's environmental burden and, therefore, must change. However, currently dominant environmental belief-based theories of pro-environmental tourist behaviour fail to consistently generate successful behaviour change interventions. Childhood behaviour offers a promising alternative. If childhood behaviour leads to adult habits, childhood may represent a critical time for instilling pro-environmental tourist habits. Using self-report adult habit strength, environmental beliefs, and behaviour across adulthood and childhood, this study reveals that self-reported childhood behaviours are indeed positively associated with adult habits, and such habits explain 41 % of variance of general pro-environmental behaviour in adulthood vacations, compared to 3 % explained by environmental beliefs. For recycling, conserving water and energy, and reducing food waste, results are similar - substantially favouring habits over environmental beliefs. This study points to a potential new approach for tourism professionals to influence tourists' pro-environmental behaviour - by building habits in childhood, and breaking or reinforcing them in adulthood.

Sustainable tourism for climate change and environmental sustainability in Tunisia: Evidence from a novel measure, nonlinear modeling, and wavelet coherence

This study examines the asymmetric impact of international tourism on CO2 emissions and environmental sustainability in Tunisia. Using the Nonlinear Autoregressive Distributed Lag (NARDL) model within a Stochastic Impacts by Regression on Population, Affluence, and Technology (STIRPAT) framework, we construct a composite index via Principal Component Analysis (PCA). Robustness checks include Fully Modified Ordinary Least Squares (FMOLS), Bias-corrected Wavelet coherence, and asymmetric causality analysis through Vector Autoregression (VAR). Findings reveal that tourism traffic asymmetrically affects environmental sustainability, except for carbon emissions, even under nonlinear Granger causality analysis. Trade openness also exerts asymmetric effects, supporting the Pollution Haven hypothesis. Policy recommendations highlight the need for smart strategies such as mobile applications and taxation to track tourism-related carbon footprints, foster youth-led tourism businesses, address brain drain, and advance a circular economy. Sustainable tourism, alongside key structural factors, plays a vital role in shaping long-term environmental quality. Strategic agricultural development, improved governance, and the efficient use of renewable energy are crucial. Enhancing energy security, reducing fossil fuel dependence, and promoting green technology investments are necessary steps. This study contributes uniquely by compiling and updating a dataset based on six environmental criteria-air quality, energy management, biodiversity, health, population pressure, and water resources-while employing advanced econometric techniques.

Dynamic factors driving PM2.5 concentrations: Fresh evidence at the global level

This paper analyzes the dynamic impact of economic, social, and governance factors on PM2.5 concentrations in 89 countries from 2006 to 2019. Using the GMM-PVAR approach and Impulse-Response Functions, we examine how shocks to specific variables affect PM2.5 concentrations over a 10-year period. Our findings reveal that the influence of these factors on PM2.5 levels varies over time. For example, a shock in urbanization has no effect on PM2.5 concentrations in the first year, but in the second year, pollution increases significantly. In the third period, PM2.5 levels decrease, but they rise again in the fourth period, albeit not significantly. By the fifth period, pollution decreases until a new equilibrium is reached in the sixth period. Additionally, a shock in financial development, government effectiveness, industrialization, trade openness, or GDP has no effect on PM2.5 concentrations in the initial period. However, during the second period, air pollution decreases, followed by an increase in the third period and a decrease again in the fourth period. These dynamic patterns highlight the need for environmental policies that consider the evaluation time horizon. Our analysis is supplemented by the Granger causality test, guiding specific policy recommendations based on our findings.

Global warming communicative actions of publics in Türkiye: Utilizing fuzzy rule based system

The effectiveness of government policies and environmental initiatives to mitigate global warming relies heavily on public support, which is closely tied to public perception and awareness. Despite the scientific evidence communicated, the public remains reluctant to take preventive measures against global warming. The aim of the paper is to investigate the communicative actions of publics proposed as in the situational theory of problem solving to understand publics' communicative actions towards global warming. The paper utilizes a fuzzy rule-based system approach to analyze the communicative actions of publics to reveal non-linear relationships; whereas previous studies mostly used linear statistical analysis. The paper provides a deeper understanding into the interplay between problem recognition, constraint recognition, and involvement in shaping information behavior. The results show that the communicative actions of the publics are at a low-to-moderate level. The paper's interesting finding is the nonlinear effects of constraint recognition on communicative action about global warming. Contrary to the current literature, it was found out that the dominant factor that may convince public to start taking action towards global warming seems to be recognizing being constrained at a moderate level. Based on the results, it is suggested for policy makers and communication strategists to mitigate the negative outcomes of global warming by integrating environmental issues into education at all levels and collaborating with non-governmental organizations for national awareness campaigns which focus on increasing public problem recognition and involvement.

Geopolitical risk and firm-level environmental, social and governance (ESG) performance

This study investigates the impact of geopolitical risk on firm-level environmental, social, and governance (ESG) performance. Using a news-based indicator of geopolitical risk across 41 countries and a comprehensive dataset spanning from 2002 to 2021 with 65,354 firm-year observations, we uncover that geopolitical risk is negatively associated with ESG performance. Our findings remain robust even when considering alternative measures of geopolitical risk, ESG components, and sub-samples. Moreover, we address potential endogeneity concerns through two-stage least squares, propensity score matching and entropy balancing approaches. Interestingly, we find that the effect of geopolitical risk is positive for countries with lower geopolitical risk and high peace, indicating that relatively stable environments can incentivize firms to enhance their sustainability practices. We also examine the potential channel effects of cash holding, corporate investment, and cost of capital, and found significant effects. Overall, this paper underscores the significance of geopolitical risk as a macro-level shock that significantly influences ESG performance.

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 synergetic impact of digital campaigns and economic incentives on environmental performance: the mediating role of household indoor and outdoor activities

The primary goal of this research is to look into the impact of digital campaigns for environmental and economic incentives on environmental performance, with indoor and outdoor activities of households taken as mediating variables. PLS-SEM was used to evaluate and quantify the novel and complex model to meet the study's goals. Furthermore, data were gathered from 1542 Pakistani households using convenient sampling techniques. The study's findings show that digital campaigns and economic incentives significantly increase household's participation in indoor and outdoor activities, which improves environmental performance. This study contributes to the literature on environmental performance by examining digital campaigns and economic incentives as resilient influencers. Furthermore, this study assists authorities in developing an effective and efficient policy that promotes environmental savaging information while providing economic incentives to encourage the activities. At the same time, it emphasizes environmental concerns and how they can be addressed.

Asymmetric and time-frequency co-movements among innovation-themed investments and carbon emission efficiency: Thematic investing and hedging opportunities

This study is aimed at investigating the asymmetric and time-frequency co-movements and the hedge or safe-haven properties of carbon efficient indices, the MSCI ACWI Sustainable Impact, and MSCI World EGS indices, in relation to technology and innovation-themed investments. In doing so, the ADCC-GJR-GARCH and wavelet coherence techniques are applied to a daily return series ranging from January 2019 to January 2023. Findings of the ADCC-GJR-GARCH model show negative and insignificant asymmetric linkage among underlying indices during the sample period. The S&P 500 carbon efficient index (CEI) acts as a strong hedge or safe-haven for technology and innovation-themed indices during tranquil and tumultuous periods. The MSCI ACWI Sustainable Impact, MSCI World EGS, and carbon efficient indices except for S&P 500 CEI exhibit weak hedge or safe-haven attributes. Wavelet coherence reveals negative (positive) co-movements between the thematic and carbon efficient indices in short-term (medium-term and long-term) horizons with consistent leading behavior of thematic indices to carbon efficient indices outcomes. It justifies the presence of short-lived hedging or safe-haven characteristics in the thematic domain for investors. These strong and weak hedge or safe-haven characteristics of low carbon and sustainability indices reveal that adding low carbon efficient and sustainable investments to a portfolio result in considerable diversification benefits for investors who tend to take minimal risk in both tranquil and tumultuous periods. The current findings imply that financial institutions, thematic investing companies, and governments need to encourage carbon efficient technology transfer and innovation-themed investments by increasing the fund allocations in underlying asset classes. Policy-making and regulatory bodies can encourage investors to make carbon-efficient and thematic investments and companies to issue carbon-efficient stocks or investments to safeguard social and economic risks during fragile periods. These investments can offer greater opportunities to combat the intensity of economic shocks on portfolios for responsible or sustainable investors.

Carbon conundrums: Geopolitical clashes and market mayhem in the race for sustainability

This research presents an in-depth investigation into the dynamic correlation between geopolitical conflicts and carbon markets utilizing the Time-Varying Parameter Vector Autoregression (TVP-VAR) technique. The analysis focuses on the interconnectedness between the Geopolitical Risk Index Daily (GPRD) and vital carbon pricing instruments, specifically the Intercontinental Exchange Endex European Union Allowance (ECEFDC), KraneShares California Carbon Allowance Strat ETF (KCCAK), Shanghai Environment and Energy Exchange China Emission Allowances Online Transactions (SAXCEA), and S&P Global Ex-Japan LargeMidCap Carbon Efficient Index (SPGJ). The daily fluctuations were traced from May 2021 to July 2023. The analysis is divided into short- and long-term connectedness, with particular emphasis on the impact of the Russia-Ukraine conflict on the GPRD's spillover on carbon markets. The short-term connectedness (1-5 days) between GPRD and ECEFDC shows variability, fluctuating between 10% and 40%. Conversely, long-term connectedness exhibited a significant increase during the conflict, peaking at approximately 34% by mid-2022. The analysis of the Total Dynamic Connectedness (TCI) between the GPRD and the KCCAK indicates comparable magnitudes, although with minor initial discrepancies. The short-term connectedness of GPRD and KCCAK decreases from its peak of approximately 10% to approximately 1%. Conversely, long-term connectedness varies between approximately 32% and 2% from May 2022 onwards. The long-term connectedness between GPRD and SAXCEA revealed variable patterns, peaking at around 18% at the beginning of the sample period and rapidly reducing to around 1% within two months. The analysis of the connectedness between GPRD and the SPG) identifies intense fluctuations in both TCI and long-term connectedness. After an initial increase and decrease, these patterns rebound and experience another increase. This research provides significant insights into the complex dynamics of geopolitical conflicts and carbon markets, particularly the impact of the Russia-Ukraine conflict on carbon market behavior.

Geopolitical risk, economic policy uncertainty, and dynamic connectedness between clean energy, conventional energy, and food markets

The global financial markets suffered unprecedented shocks, leading to significantly increased uncertainty in the markets due to various economic and financial recessions and geopolitical tensions, resulting in substantial fluctuations in market prices. Therefore, this paper aims to identify the response of the clean energy, conventional energy, and food markets to economic uncertainty and political tension while considering the influence of numerous crises and political conflicts. To achieve this, we employ the DCC-GARCH-based connectedness approach and the quantile-on-quantile model on monthly data spanning from May 2008 to June 2023. The results provide evidence of the sensitivity of dynamic volatility spillovers between financial assets to GEPU and GPR during major economic and financial crises and geopolitical events. Notably, this sensitivity increases significantly during the global financial crisis (GFC), the European debt crisis, Brexit, the US presidential election, the COVID-19 pandemic, and the Russian-Ukrainian war. However, the investigation of the tail dependence structure reveals that the relationship between uncertainties and total volatility connectedness across various market conditions appears to be asymmetric and heterogeneous. Our findings assist policymakers and green investors in designing the most effective policies to mitigate the impact of uncertainties on both conventional and green investments. This is achieved through insightful knowledge about the primary drivers of contagion among these indices, all while not compromising sustainability goals.

European Union and its progress towards affordable and clean energy in context of the Agenda 2030

The topic related to affordable and clean energy is currently highly actual. It is essential to realize that affordable and clean energy is energy without negative effects on the environment. Its advantage is that a lot of clean energy is renewable. Therefore, this type of energy contributes positively to the development of several spheres in the economy, such as agriculture, trade, communications, education, health and transport. The aim of the study is to analyze changes in the development of sustainable indicators set of affordable and clean energy in relation to Sustainable Development Goal 7 in the European Union, using cluster analysis to identify the differences and compare changes in the grouping of countries into clusters in the two years studied (2010, 2020). In addition to categorizing countries and confirming differences among member states of the European Union, the results allow us to evaluate the contribution of selected indicators to achieving affordable and clean energy. Our findings indicate that primary energy consumption per capita, final energy consumption in households per capita, energy productivity, share of renewable energy in gross final energy consumption and population unable to keep their home adequately warm shows a positive trend and supports the achievement of the Sustainable Development Goal 7.the energy import dependency is a problematic area in several countries. The results of cluster analysis showed that the largest shifts within the clusters were recorded in Italy, Estonia, and Luxembourg. The most positive shift occurred in Italy due to a significant improvement in four indicators. Luxembourg as a solo country cluster showed in 2020 some of the worst results due to the highest primary energy consumption per capita and the lowest share of renewable energy in gross final energy consumption. The dynamics of Estonia within the clusters was marked by the lowest value of the indicator of dependence on energy imports, as well as an increase in the share of renewable energy and insufficient energy productivity. The results of our study also confirm, that Sweden and Finland are leader countries, which despite high energy consumption are applying renewable energy sources to a greater extent by which they make a positive movement toward affordable and clean energy.

Does biogas energy influence the sustainable development of entrepreneurial business? An application of the extended theory of planned behavior

As a result of air pollution and accelerated climate change, entrepreneurship is gradually becoming a deciding factor in the global conversation about saving the planet with renewable energy sources. To sustain the economy and entrepreneurial culture for future generations, researchers and entrepreneurs seek environmentally friendly methods for supporting entrepreneurial enterprises. Fossil fuel-based energy has significantly impeded the country's sustainable development. Pakistan lacks research examining the connection between biogas energy technology and entrepreneurship. This study aims to cover this void in the literature by employing the theory of planned behavior to investigate bioenergy as a business prospect for supportable monetary growth. The primary data comprises 358 comprehensive questionnaire survey respondents. PLS-SEM verifies the model and examines the suppositions. According to pragmatic findings, all views are positively and substantially associated with the sustainable progress of business enterprises implementing biogas energy. In contrast, social media awareness had no moderating effect on the dependent variable. Consequently, social media awareness substantially modifies the associations between all independent variables adopting biogas energy. The results of this research indicate the standing of altering social customs regarding private enterprise, increasing businesspersons' consciousness of these matters, reforming controlling arrangements, and highlighting the assistance of business events made possible by biogas energy technology, which increases businesspeople's investment returns. Conclusively, the study's limits and approvals for future research are emphasized.