Neutralizing the surging emissions amidst natural resource dependence, eco-innovation, and green energy in G7 countries: Insights for global environmental sustainability

Unveiling the drivers of environmental performance by investigating the Nexus of energy, economic complexity and institutional quality in G7 nations

Human activities have significantly increased emissions due to the economic expansion of the 21st century and prevalent production and energy consumption patterns. Nevertheless, attaining a decrease in emission levels necessitates a proactive stance towards ecological sustainability, encompassing inventive tactics and a deliberate adoption of contemporary technologies. This study is motivated by the urgent need to address the rising ecological footprint due to unsustainable energy use and economic activities, especially within G7 economies. The study aims to examine the impact of energy consumption, institutional quality, globalization, economic complexity, and fossil fuel use on the ecological footprint, emphasizing the need for sustainable practices using PMG-ARDL for data 2000-2021. The analysis indicates a strong positive association between ecological footprints and the utilization of fossil fuels, globalization, institutional quality, and renewable energy sources. Conversely, economic complexity shows a significant negative correlation with long-term footprints. The findings suggest that G7 economies should adopt innovative technologies and prioritize renewable energy to optimize energy use, fostering sustainability and reducing ecological harm.

Site and species dependent effects of offshore wind farms on fish populations

The expansion of offshore wind energy capacity is changing the seascape with the large-scale introduction of turbines and associated infrastructure. Subsurface structures can influence the abundance, distribution and behaviour of some marine fish species by providing artificial habitat and food resources that supplements natural occurrence. At two of the highest latitude operational wind farms the abundance, biomass and size of haddock and flatfish was higher close to jacket turbine foundations, with the effect larger at the older and more complex foundations. The results provide further evidence of the fine-scale impacts of offshore wind turbines on demersal fish and illustrate their species and site-specific nature. Quantifying how these changes may have positive or negative effects on local ecosystems and scale up to networks of wind farms is a challenge, but will be required if potential future wind farm consenting policies are to be addressed.

Sustainability with environmental policy stringency and financial development for green technological innovations: Evidence from Sub-Saharan Africa

This study is prompted by the United Nations Sustainable Development Goals (UN-SDGs) and their anticipated effect by 2030. Financial development and environmental policy stringency are becoming crucial tools for tackling environmental degradation. However, there is a limited body of research that explores their interactive roles for green technological innovation and contributes to environmental sustainability, particularly in Sub-Saharan African economies. In this study, we investigated how financial development and environmental policy stringency moderate the relationship between technical innovation and load capacity factor in the panel of 29 Sub-Saharan African (SSA) countries from 1990 to 2020. The study employed multifaceted empirical techniques, including Dynamic Ordinary Least Square (DOLS), Fully Modified Ordinary Least Square (FMOLS), Canonical Cointegration Regression (CCR), and method of Moment Quantile Regression (MMQR) estimators. The findings show that coefficients of the interaction of financial development and green innovation (FD∗INV), environmental policy stringency and green innovation (EPS∗INV), and financial development and energy transition (FD∗ET) indicate a positive contribution to environmental sustainability. Further, feasible generalized least squares (FGLS) and bootstrapped quantile regression (BSQR) approaches are used to check the robustness of the results. This study offers a policy framework that focuses on developing a sustainable economy to achieve SDGs 7 & 13. The primary objective is to build a green economy and ensure long-term environmental sustainability in SSA countries.

The impact of renewable energy, eco-innovation, and GDP growth on CO2 emissions: Pathways to the UK's net zero target

In May 2019, the Climate Change Committee (CCC) recommended that the UK adopt a net-zero target, aiming to reduce its greenhouse gas emissions (GHG) by 100% from the 1990s baseline by 2050. The government accepted the recommendation, and the UK became the first major economy to establish a net-zero emissions law. To progress towards its climate objectives, the government took several initiatives, such as increasing its reliance on renewable energy sources and investing in climate mitigation technologies, which are commonly referred to as process eco-innovation. This study examines the impact of eco-innovation, process eco-innovation, renewable energy consumption, and economic growth on CO2 emissions in the UK using data from 1988 to 2020. We used the ARDL bound test with an error correction model (ECM) to examine the long-run and short-run cointegration between the variables of concern. We found that eco-innovation, process eco-innovation, and renewable energy consumption have significant roles in mitigating CO2 emissions, while economic growth contributes to environmental degradation in the UK. We also found that the effect of eco-innovation on CO2 emissions abatement is stronger than that of process eco-innovation in the short and long-run. Our robustness tests have confirmed the accuracy of those findings. In addition, the results from the Toda-Yamamoto causality revealed a one-way causality from process eco-innovation to CO2, renewable energy to CO2, and eco-innovation to CO2 emissions. Further, a bidirectional causality was found between GDP and CO2 emissions. The evidence presented in this paper provides great insight for shaping the energy policy in the UK and for establishing the climate budget in line with the country's net-zero target.

The impact of green innovation and renewable energy on CO2 emissions in G7 nations

This study aims to explore the effect of eco-innovation and renewable energy on carbon dioxide emissions (CDE) for G7 countries. Using regression models, the results reveal that eco-innovation and renewable energy lead to reducing CDE in the presence of governance variables. Additional analysis is conducted to examine whether Hofstede national culture dimensions moderate the nexus of "eco-innovation- carbon emission" and "renewable energy-carbon emission". The results show that individualism, long-term orientation, and indulgence dimensions moderate positively the eco-innovation-carbon emission relationship. Moreover, power distance and uncertainty avoidance dimensions moderate the relationship between renewable energy and CDE and help reduce carbon emissions. The outcomes of this study provide new insights and directives for policymakers and regulators. In fact, increased investment in eco-innovation and renewable energy will support the environmental agenda of G7 countries. National cultural dimensions should be taken into consideration to improve awareness of environmental quality. Moreover, the combination of governance indicators plays a key role in environmental sustainability.

Intelligent industry, energy regulation and ecological transformation-Taking equity financing as the moderating variable

With the panel data of 21 China's industrial industries from 2008 to 2020, the relationship models between intelligent industry, energy regulation and ecological transformation are constructed and tested from two dimensions of resource saving and environmental friendliness, then equity financing is introduced into this model as moderating variable to discuss the moderating effects on the relationships between intelligent industry, energy regulation and ecological transformation. Results show that: ⑴China's industrial industries significantly transformed to the resource-saving type, and the environment-friendly level stayed in a slow progression. ⑵Intelligent industry affected ecological transformation positively and significantly. The impact of energy regulation on ecological transformation was nonlinear. The regulation of energy consumption can significantly stimulate the transformation of resource saving, and restrain the transformation of environmental friendliness; the regulation of energy structure can significantly stimulate the transformation of environmental friendliness. ⑶ Equity financing can positively moderate the relationship between intelligent industry and ecological transformation, and it can also moderate the regulation of energy structure and promote the transformation to environmental friendliness, especially in the low consumption industries.

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.

Renewable energy transition to sustainable tourism: extrapolating from core density and non-parametric approaches

The globe has faced severe challenges recently, and environmental deterioration has become more prominent. Therefore, the world has taken several initiatives to deal with environmental issues while the problem remains intact. Interestingly, the OECD economies are the leading example to understand the accurate picture of sustainability across the near regions. This study makes an effort to introduce the core factors such as economic development, renewable energy, tourism, natural resources, and innovations in OECD economies over the period of 2000-2021. Similarly, to investigate the study's objectives, this study employs the quantile autoregressive distributed lag model (Q-ARDL). The analyzed results show the significant contribution of renewable energy, tourism, and natural resources to environmental sustainability. In contrast, income and innovations contribute to ecological deterioration. Moreover, the quantile causality is being used by this empirical study to investigate the causal association among studied variables. However, using green energy in sustainable tourism is highly recommended for specified economies. In order to deal with environmental pressure, this research proposes green implications to attain the desired sustainability level.