The environmental footprint of China-Africa engagement: An analysis of the effect of China - Africa partnership on carbon emissions

Welfare influences of green energy volatility in Vietnam: new evidence from an extended TVP-VAR approach

We present a study utilizing TVP-VAR - a time-varying parameter vector autoregression combined with an extended joint connectedness approach to examine the interrelationships between welfare and green energy volatility in the system of variables, including economic growth measured by gross domestic product (GDP), rural income, urban income, and renewable energy consumption. We characterize the connectedness of these variables from 19954 to 2019 in Vietnam. Net total directional connectedness of renewable energy consumption and GDP, rural-urban income suggests that both GDP and rural income have constantly been recipients of net contagion shocks, and urban income is a net critical receiver in the period 2001-2010. Renewable energy consumption consistently behaves as an important transmitter of shocks. Pairwise connectedness reveals that renewable energy consumption demonstrates a consistent shock-transmitting behavior for other variables. Renewable energy consumption could be either a transmitter or a receiver of shock from GDP, depending on the period. Our findings are critical since they will help policymakers formulate appropriate policies for reducing the vulnerabilities of these variables and minimizing the spread of risk and uncertainty among them, then improving the individuals' welfare and obtaining ecological sustainability in the case of developing countries.

A wavelet analysis of dynamic connectedness between geopolitical risk and renewable energy volatility during the COVID-19 pandemic and Ukraine-Russia conflicts

The study explores inter-relations between the geopolitical risk index and renewable energy volatility index at frequency dimensions from April 4, 2019, to June 13, 2022, using novel multivariate wavelet analysis approaches, such as partial wavelet coherency and partial wavelet gain. Our method allows us to study these interlinkages at various time frequencies. We also consider the influences of uncertain events like the COVID-19 pandemic and Ukraine-Russia conflicts on their interconnectedness. The multiple coherencies between the geopolitical risk index and the green energy sector suggest four cycles in the low-frequency range (50-130 days) from March 2020 to October 2021 and from February 2022 to June 2022. The partial coherency between the geopolitical risk index and renewable energy volatility index suggests connectedness between renewable energy dynamics and geopolitical risks during the COVID-19 duration and the Russia-Ukraine conflict. The partial wavelet coherency of the volatility of green bonds and geopolitical risks suggests that alterations in green bonds caused alterations in geopolitical risks, and the association is negative from February 2021 to April 2021. Both indicators are in-phase with geopolitical risks pushing from February 2020 to April 2020 and from October 2021 to the end of the sample. The partial coherence between clean energy and geopolitical risk suggests geopolitical risks pushing anti-phase connectedness from September 2020 to September 2022. Our findings help policymakers design the most effective policies to lessen the vulnerabilities of these indicators and reduce the spread of risk or uncertainty across them by having insightful knowledge about the primary antecedents of the contagions among these indicators.

Understanding the Role of Technology in Asian Economies: The Environmental Impact of Remittances and Economic Complexity

In recent years, scholars have determined various determinants of environmental degradation using the panel and time-series studies. However, technological innovations (TI) and remittances, among the financial system's essential components, are relatively ignored. In addition, nations' economic progress and environmental performance also depend upon the nature of their economic structure. This empirical research investigates the effects of TI, remittances and economic complexity (EC) on CO2 controlling economic growth and trade openness (TR) in the selected 15 Asian nations. The study collected panel data of 15 Asian countries from 1990 to 2019 and employed the panel quantile regression and augmented mean group methods to unveil the impacts of variables on CO2 emissions. The empirical findings established that remittances are negatively linked with CO2 emissions. Similarly, EC reduces CO2 emissions in the context of Asian countries. In addition, EC and remittances Granger cause CO2 emissions. These findings indicate that remittances and EC positively contribute to environmental quality in Asian countries. Conversely, TI, economic growth, and TR intensify CO2 emissions in Asian countries. Finally, the study recommended policies to enhance remittances and EC in Asian countries to curb environmental degradation.

Will China-Africa trade increase Africa's carbon emissions?

In order to explore whether China-Africa exchange will influence on the African environment. This paper selects four paths of China-Africa exchanges and explores the impact of each path on the African environment under the influence of different factors. We found that construction income and Africa's exports to China will increase Africa's carbon emissions. Foreign direct investment and China's exports to Africa will lead to a reduction in carbon emissions in Africa. The resource moderation will reduce the significance of the environmental impact of each path on Africa. Based on the above conclusions, several suggestions are made on the policies and actual operations in the path of China-Africa exchanges.

Nurturing environmental champions: exploring the influence of environmental-specific servant leadership on environmental performance in the hospitality industry

This study investigates the impact of environmental-specific servant leadership (ESSL) on environmental performance (EP) in the context of the hospitality industry. It further examines the mediating roles of environmental concern (EC) and employees' pro-social attitude (EPSA) in this relationship. Drawing on a sample of hospitality organizations, data was collected using self-report questionnaires from employees. Structural equation modeling (SEM) was employed to analyze the data and test the proposed model. The results demonstrate a positive and significant relationship between ESSL and EP in the hospitality industry. Furthermore, the study reveals that EC and EPSA play a mediating role in the relationship between ESSL and EP. The findings highlight the importance of ESSL in driving environmental performance and underscore the significance of fostering EC and EPSA among employees. Organizations can benefit from developing and nurturing ESSL leaders who inspire and motivate employees to embrace sustainability practices and contribute to a more environmentally responsible and sustainable industry.

How do energy supply and energy use link to environmental degradation in China?

China's energy supply and energy use are closely linked to environmental degradation. The country's heavy reliance on coal, oil, and natural gas, as well as its rapidly growing demand for energy, have contributed to air and water pollution, soil erosion, and other environmental problems. To address these issues, China must transition to cleaner and more sustainable forms of energy and implement policies to reduce energy demand and promote conservation. This paper explores the impacts of total primary energy supply and energy use on environmental degradation in China, using international trade and economic growth as moderating variables from 1971 to 2019. The results indicate that the total primary energy supply is significant at a 1% significance level, which suggests that it strongly impacts the ecological footprint. Energy use and international trade are significant at a 5% level, indicating that they also influence ecological footprint, albeit to a lesser extent. Economic growth is significant at a 1% significance level, suggesting a strong positive association with the ecological footprint. Energy supply improves the environment in China, whereas energy use degrades the environment. Policymakers should focus on promoting energy efficiency in the industrial and transportation sectors. This can be achieved through the implementation of energy-saving technologies, the promotion of public transportation, and the development of low-carbon transportation systems.

Dynamic connectedness between FinTech innovation and energy volatility during the war in time of pandemic

We use an extended joint connectedness technique and the time-varying parameter vector autoregression (ETVP-VAR) method to examine connections between the ARK FinTech Innovation ETF (ARKF), Global X FinTech ETF (FINX), and energy volatility by connectedness as a quality of eight indicators from April 1, 2019, to September 26, 2022. Our results demonstrate that the pattern of ARKF and FINX is picked up as a crucial net shock transmitter that nearly permeates our analyzed sample. Since the COVID-19 epidemic, more people are adopting FinTech partly because of their concern about the disease spreading through social contact and cash handling. Moreover, green bonds are net shock recipients over the long term. Furthermore, during the COVID-19 duration and the Russo-Ukrainian War, shocks transmitted to green bonds soared sharply. By contrast, keeping with the clean energy and crude oil trend, these indicators transmit a network of shocks during the period under study. When considering wind power, it becomes clear that this signal first acts as a net shock transmitter before changing into a net receiver of shocks from mid-2021 onwards. We recognize that the system is a net shock receiver regarding clean power. The dynamics invariably lead the series to change to a net shock transmitter in mid-2021. By mid-2021, the developments always cause the series to transform into a net shock transmitter.

Scrutinizing interlinkages between digitalization, economic complexity, green technologies, green energy consumption and CO2 emission by quantile spillovers in Vietnam

We use quantile vector autoregression (QVAR) to identify the connection between six variables related to digitalization (proxied by a number of Internet users and mobile cellular subscriptions), green technology development, green energy consumption, carbon dioxide emissions, and economic complexity index from 1996 to 2019 in Vietnam. The dynamic connectedness of the system is 62% and 14% in the short and long term, respectively. Their connectedness is intense for highly positive and negative quantiles (over 80% quantile). In contrast, economic complexity transmits shocks in the short term and manifests itself even more in the long term. Green technology development is the central receiver of short- and long-term shocks. Besides, digitalization captured by a number of Internet users has switched from shock transmitters to shock receivers in the short term. Other metrics like mobile cellular subscriptions, green energy consumption, and CO2 emissions are mainly shock-receiver-driven. In the short term, there was volatility, especially from 2009 to 2013, due to unprecedented events like destructive changes in political, economic, and financial issues in the globe. Our findings are critical for economists and policymakers in promoting a country's digitalization, green technology performance, and green energy on the path toward sustainable development.

Dynamic connectedness between green energy and carbon risk during Russia-Ukraine conflict: new evidence from a wavelet analysis

The study explores the inter-relations between green and renewable energy and carbon risk. Key market participants with varying time horizons include traders, authorities, and other financial entities. This research examines these relationships and frequency dimensions from February 7, 2017, to June 13, 2022, using novel multivariate wavelet analysis approaches, such as partial wavelet coherency and partial wavelet gain. The multiple coherencies between green bond, clean energy, and carbon emission futures imply that these regions were situated at low frequencies (relating to approximately 124-day frequency) and run from the beginning of 2017 to the beginning of 2018, in the first half of 2020, and from the beginning of 2022 to the end of the sample. The relationship between the solar energy index, envitec biogas, biofuels, geothermal energy, and carbon emission futures, is significant in the low-frequency band starting from early 2020 to middle 2022 and in the high-frequency band starting from early 2022 to middle 2022. Our research demonstrates the partial coherencies between these indicators during the Russia-Ukraine conflict. The partial coherency between the S&P green bond index and carbon risk suggests that carbon risk pushes anti-phase connectedness. The partial phase difference S&P global clean energy index and carbon emission futures (from early April 2022 to the end of April 2022) recommend that indicators are in-phase with carbon risk pushing and the phase (from early May 2022 to middle June 2022), suggesting that carbon emission futures are in-phase with S&P global clean energy index pushing.

An application of QVAR dynamic connectedness between geopolitical risk and renewable energy volatility during the COVID-19 pandemic and Russia-Ukraine conflicts

The article is the first to employ a quantile vector autoregression (QVAR) to identify the connectedness between geopolitical risks and energy volatility from January 1, 2015, to April 03, 2023. This paper is also the first to examine the mediating roles of uncertain events like the COVID-19 pandemic and the Russia-Ukraine conflict on this interlinkage. Dynamic connectedness is 29% in the short term and approximately 6% in the long term. Dynamic net total directional connectedness over a quantile also indicates that connectedness is very intense for both highly positive changes (above the 80% quantile) and negative changes (below the 20% quantile). In the short term, the geopolitical risks remained net receivers of shock, but they turned into net shock transmitters during 2020 in the long term. Clean energy, in the short term, transmits shocks to other markets, and it plays the same role in the long term. Crude oil was a net receiver of shocks during COVID-19 and turned into a net transmitter of shocks in early 2022. Dynamic net pairwise directional connectedness over a quantile suggests that uncertain events like the COVID-19 epidemic or the Russia-Ukraine conflict influence the dynamic interlinkages between geopolitical risks and renewable energy volatility and change their roles in the designed system. These findings are critical since they help authorities develop effective policies to lessen the vulnerabilities of these indicators and minimize how widely the renewable and non-renewable energy market is exposed to risk or uncertainty.

The impact of climate disaster on international trade: Evidence from developed and developing countries

A climate disaster can be devastating, but its challenges and losses provide some opportunities to other countries. Therefore, in this paper, we examine the impact of climate risk on international trade with a particular focus on developed and developing countries. Using a large sample of 160 countries between 2006 and 2019, we find that climate disaster is positively associated with high international trade. An increase in the climate disaster index will lead to an increase of about 5.9% in imports as a proportion of GDP. This is significant given that the mean of imports of the sample countries is 48%. Regarding the flow of trade, importation is likely to increase by about 6.7% and export to decrease by 0.65% after the occurrence of climate disasters in developing countries. Conversely, we did not find significant changes in imports and a weak association with exports for developed countries. We attribute this differential impact of climate disasters between developed and developing countries to the preparedness and risk mitigation mechanism in developed countries. The result suggests that the long-term effect of climate disasters increasing overall international trade is due to increasing imports in developing countries. Additional analyses demonstrate the robustness of these results to different model specifications and measurements of variables. Our results imply that climate change and its associated natural disasters offer more trade opportunities for developed countries than developing countries, highlighting the climate injustices between the high and low climate change contributors.

Impact of energy depletion, human development, and income distribution on natural resource sustainability

Constant exploitation of natural resources has resulted from the industrialization and urbanization of society. One of the possible causes of the COVID-19 pandemic is an ecological disturbance caused by excessive resource exploitation. Countries worldwide have taken precautionary measures to limit the spread of this disease because of its highly infectious nature: lockdowns, quarantines, curfews, etc. This paper explores the impacts of energy depletion and the human development index on natural resources, considering the roles of CO₂ emissions and economic growth in China from 1971 to 2019. We apply advanced economic modeling using the Phillips-Ouliaris test for integration, Gaussian identity mixed-effects Generalized Linear Model, and Robust GEE population-averaged model for long-run estimates. Results explain that CO₂ emissions and economic growth devalue natural resources, while the human development index and energy depletion increase them. Depletion of natural resources occurs due to overexploitation and overuse of natural resources, as well as unsustainable planning and waste. In the case of natural resources that man uses to make other resources, such as dams, roads, sports complexes, etc., these are considered human-made resources. It is, therefore, essential to develop human resources as a part of the natural resource development process. Research limitations and future directions are discussed.

FDI, exports, imports, and consumption-based CO2 emissions in the MENA region: spatial analysis

MENA region is full of natural resources and has a huge mineral sector in their economies. CO₂ emissions are increasing global warming and foreign trade and investments can play their roles in determining CO₂ emissions in the resource-rich MENA countries. Moreover, spatial linkages are expected in the emissions and trade relationship, which could catch less attention in the environmental literature of the MENA region. Thus, the present research is motivated to capture the contributions of exports, imports, and Foreign Direct Investments (FDI) in consumption-based CO₂ (CBC) emissions in twelve MENA economies from 1995 to 2020 by applying Spatial Autoregressive (SAR) Model. Our results exhibit the existence of the Environmental Kuznets Curve (EKC). Moreover, the impact of exports is found negative in direct and total estimates. Thus, exports of the MENA region are reducing CBC emissions in the MENA region and transferring emissions to their importing partners. Moreover, the spillovers of exports are found positive and exports of one MENA country are also responsible for the transfer of CBC emissions to other MENA neighboring countries, which corroborates the trade linkages of the MENA region. Imports have a positive effect on CBC emissions in direct and total effects. This result confirms the fact of energy-intensive imports of the MENA region, which have environmental consequences in the domestic economies and the whole MENA region. FDI increases CBC emissions in direct and total estimates. This result substantiates the pollution Haven hypothesis in the MENA region and is in line with the fact that FDI is mostly coming in the mineral, construction, and chemical sectors. The study suggests that MENA countries should promote exports to reduce CBC emissions and to reduce energy-intensive imports in the region to save the environment from CBC emissions. Moreover, FDI should be attracted to the clean production process and environmental standards should be raised to avoid the environmental problems of FDI in the MENA region.

An application of Bayesian vector heterogeneous autoregressions to study network interlinkages of the crude oil and gold, stock, and cryptocurrency markets during the COVID-19 outbreak

We investigate fat tails and network interconnections of crude oil, gold, stock, and cryptocurrency using seven Bayesian vector heterogeneous autoregression fashions. In this paper, we incorporate parameter uncertainty by using Bayesian VAR models for estimation. To make rational investment decisions, we decompose a network of financial assets and commodity prices into various time horizons to obtain essential insight and knowledge. During the short, medium, and long run, this paper differentiates dynamically between network interlinkages between these markets. We found some noteworthy results in our study. In the first place, network interlinkages exhibit remarkable differences over time. Interlinkages between networks are increased in the short term, medium term, and long term due to transient events occurring in markets during the study period. As a result of the ongoing COVID-19 epidemic, the long-term ties within the system are significantly impacted. Additionally, based on net directional linkages, each market's role shifts (from sending to receiving shock and vice versa) before the pre-COVID-19 pandemic course, whereas they remain persistent during COVID-19. Observations of short- and medium-term trends reveal that three markets, namely, crude oil, gold, and stock, receive shocks, which are transmitted to these markets by the cryptocurrency market. In terms of long-horizon measures, the results indicate that the gold and cryptocurrency markets persist as shock transmitters. Our findings are critical since policymakers can also design appropriate policies to reduce the vulnerabilities of such markets and prevent risk spread and instability.

The role of financialization in stimulating environmental innovation implementation in the European region

This paper empirically examines the influences of financial development on environmental innovation implementation. Our research is based on four measures designed to assess the effectiveness of environmental innovations in 24 European countries, including the percentage of enterprises implementing environmental innovation investment (% of surveyed firms); the percentage of enterprises implementing environmental innovation activities (e.g., implementation of resource efficiency actions, sustainable products, or ISO 14001 certificates) measured, a number of enterprises having new ISO 14001 registration and a number of environmental innovation-related patents. Based on our analysis and estimates, we reveal that the better quality of the financial system improved the environmental innovation performance in the European region during the 2011-2019 period. To shed light on the link between financialization and environmental innovations, we dig deeper into financial markets and financial institutions' depth, access, and efficiency. Our results highlight financial institutions and financial markets' depth and efficiency in enhancing EI activities. However, EI-related patents do not show any significant improvements under the changes in the financial system.

Does the belt and road initiative reduce the carbon emission intensity of African participating countries?

The ambition of the Belt and Road Initiative (BRI) became an integral part of carbon emission abatement. The BRI impact on African participating countries' battle against carbon emissions intensity is a contentious subject. Urbanization and industrialization are the main sources of CO₂ emissions in Africa and the driving force in the BRI. Using data on variables from 2010 to 2019 in 54 African countries, applying Difference-in-differences model (DID) and Propensity Score Matching-Difference-in-differences regression (PSM-DID), and robustness tests to investigate if the BRI's participation tends to reduce the carbon emissions intensity of African participating countries. This study finds that African countries' participation in the BRI minimizes the intensity of carbon emissions in those countries. Further analysis shows that low carbon development of BRI countries is more significant in countries that joined the BRI than those that did not join it. In addition, our results show that improving economic transformation such as the innovation in technology and industries' structures can boost the CO₂ emission reduction technologies. These findings suggest that developing BRI collaboration with China will benefit the environment and African BRI participating countries' ability to achieve sustainable development. Our results further support the BRI's effect and recommend policy implications and methods for those countries' CO₂ emission prevention and control actions.

Green growth and environmental quality in top polluted economies: the evolving role of financial institutions and markets

An efficient financial system is crucial for the attainment of green growth and superior environmental quality. Therefore, our focus in this analysis is to estimate the effect of financial institutions and markets on green growth and environmental quality in highly polluted economies from 1991 to 2019. Estimates of the variables are collected with the help of the ARDL bounds testing approach. Findings of the ARDL model imply that a financial institution's efficiency helps improve green growth in the USA, China, and Japan in the long-run. However, the efficiency of the financial markets causes the green economy to grow in the long run in China and Russia only. On the other side, in the CO₂ model, the long-run estimated coefficients of a financial institution's efficiency are negatively significant in Japan and China only, implying that a financial institution's efficiency significantly reduces CO₂ emissions. Similarly, the long-run estimates of financial markets are significantly negative in the context of China and Japan only in CO₂ emissions.

Dynamic interlinkages between the crude oil and gold and stock during Russia-Ukraine War: evidence from an extended TVP-VAR analysis

The Russia-Ukraine significantly influences the oil market. We employ a time-varying parameter vector autoregression (TVP-VAR) in combination with an extended joint connectedness approach to identify the sources of the oil market's volatility by studying interlinkages between the crude oil and gold and stock market by characterizing the connectedness of four markets starting from January 1, 2018 to April 8, 2022. Our attention is mostly paid to the period marked by the event that Russia invaded Ukraine on 24 February, 2022. Our results demonstrate that the war shocks appear to influence the system-wide dynamic connectedness, which signifies the interlinkages among the considered markets. Net total directional connectedness suggests that the oil and gold markets appear to be the net transmitter of spillover shocks in the system. However, there are shifts in the roles of these two markets during the time of the Russia-Ukraine war shock. Pairwise connectedness highlights the significance of the oil market in transmitting the adverse influences of shocks to other markets, especially during the Russia-Ukraine war.

China's experience in developing green finance to reduce carbon emissions: from spatial econometric model evidence

The objective of this study is to attempt to assess the effect of green finance in reducing carbon emissions in China, analyze the transformative role of policy impact in the development of green finance markets, and investigate the impact mechanisms of how green finance affects carbon dioxide emissions. Our time frame from 2007 to 2018 is selected for the empirical study by integrating the availability of data due to the scarcity of relevant statistics in the early days of green finance. Location of this study is in China where 30 provinces are included, excluding Tibet due to severe data shortage. As for methodology, we construct a green finance evaluation index system containing five indicators by entropy weight method, choose dynamic spatial Durbin model (DSDM) for empirical research, and perform mechanism analysis of restructuring industry and greening technology as intermediary channel. Our findings demonstrate that green finance in China does significantly reduce carbon emissions, and its spatial spillover effect and long-term effect are also verified. Furthermore, green finance tends to reduce CO2 emissions through restructuring industry and greening technology. Correspondingly, policy implications are recommended. First, improving green financial market and strengthening information disclosure of green financial market are crucial to facilitate green finance development. Local governments formulate carbon emission reduction strategies focusing on space by joint conference or coordination mechanism like river head system. Lastly, a mechanism should be developed to strengthen the transformation of industrial structure and to promote greening technology.

Is environmental tax an enabler of circularity: new insights from the unique database

This paper provides answers to the question that the environmental tax enables the circular economy. By employing six diverse measures to reflect circularity (namely the amount of municipal waste, the number of circularity patents, the amount of circular material used, the rate of recycling waste, the rate of recycling biowaste, and the rate of recycling e-waste) and four measures of environmental tax (namely total environmental tax revenue, energy tax revenue, pollution and resource tax revenue, and transportation tax revenue) of European countries, our article provided a comprehensive analysis of the nexus between environmental tax and circularity performance. A panel-corrected standard errors (PCSE) model and a feasible generalized least square estimates (FGLS) model are employed to study this association, while the dynamic fixed effects (DFE) estimator is applied to the autoregressive distributed lag (ARDL) method to measure both the short-run and long-run effects. Our study reveals the heterogeneous effects of an environmental tax on circularity. Taxing on the energy sector, the polluted sector, and transportation stimulate the process of circularity. Notably, our estimation results reveal that environmental tax can enable European countries to transit to a circular economy, especially in the long term. Our findings are critical for economists and policymakers in using the tax as an effective tool to promote a country's circularity performance.

Alternative energy and natural resources in determining environmental sustainability: a look at the role of government final consumption expenditures in France

The global community is concerned about several environmental changes. Climate change, desertification, destruction of tropical rainforests, erosion of coastal ecosystems, soil resource loss, overfishing, species extinction, and loss of biodiversity are all contributing factors. Many commentators contend that these issues make up a cumulative, sustained human impact on the environment that has profoundly changed the surface of the Earth. We explore the effects of alternative energy sources, natural resources, and government consumption expenditures on French environmental sustainability from 1990 through 2018 under the environmental Kuznets curve (EKC) framework. We apply advanced econometric methodologies for empirical analysis. Our long-run estimates indicate that alternative and nuclear energy, natural resources, and government final consumption expenditures are negatively associated with CO₂ emissions, while economic growth is positively related to CO₂ emissions. CO₂ emissions are negatively correlated with the square root of economic growth (EKC), thereby supporting EKC. As economic growth increases, environmental sustainability deteriorates. Eventually, EKC will make a positive contribution to environmental improvement. Future research directions, research limitations, and policy implications are discussed.

Improved CRA-method in phenomenological approach (on the example of innovative SME and GHG emissions)

Despite the successful experience of highly developed countries, for example, in achieving sustainable development, there is no single recipe. Each country can create its own development scenario or combine existing, which will provide it with positive results. We can determine the best ones using the built rating. To build it, the article proposes an approach consisting of several stages. First, the study determines the relationship between the selected factors and the resulting indicator using a correlation analysis. Then, using the Sturges rule, we determine the range and group the countries in the context of each range (group) in accordance with the level of individual indicators. After, we form groups of countries according to the rating. This approach is entirely shown on the impact of small and medium enterprises' innovation on greenhouse gas emissions. Correlation analysis is often used to determine the relationship between factors and resulting indicators. We have shown that its use without additional processing of input data can lead to false results. Therefore, further in the study show imperfection of "blind" correlation and regression analysis in the phenomenological approach. And in our example, offer an improved technique for processing input data for correlation analysis and changed the ranking of countries.

Socioeconomic and resource efficiency impacts of digital public services

This paper measures the socioeconomic and resource-efficient influences of digital transformation in the public sector in the European region. To capture the socioeconomic impacts of digital public services, we employ a socioeconomic score index calculated as the unweighted average of the re-scaled scores for changes in employment, exports, and turnover from eco-industries. Regarding resource-efficient impacts, we employ the resource efficiency score index measured as the unweighted average of the re-scaled scores for material, energy productivity, and the intensity of greenhouse gas (GHG) emissions. Measures such as user-centricity, business mobility, and key enablers are used to demonstrate the level of digitalization in the public sector. According to our estimations based on various econometric techniques, digital public services have a favorable effect on the economy and society through a positive impact on employment, exports, and turnover of eco-industries. The effects of digitalization on resource productivity follow a nonlinear U-shaped curve, suggesting that the improvement of resource efficiency is only present when the digital transformation process reaches a certain level.

The role of financial development and institutional quality in environmental sustainability: panel data evidence from the BRI countries

The belt and road countries are mostly emerging and developing countries and heading to attain economic prosperity; however, this development process leads to ecological footprint. The factors of ecological footprint need to be identified and sound level of quality institutions might be helpful to overcome the issue of environmental degradation. Utilizing data from 1985 to 2019 of the belt and road initiative (BRI) countries, this study explores the effect of institutional quality indicators and financial development on carbon dioxide emission by including energy consumption and economic growth to the model. By using OLS, fixed effect, and two-step generalized method of moments, the results indicate that financial development, economic growth, and energy consumption increase carbon dioxide emission and degrade environmental quality. Three out of six institutional quality indicators that include government effectiveness, voice and accountability, and corruption control effect carbon dioxide emission positively, while the other three that include rule of law, regulatory quality, and political stability significantly rise environmental quality. The interaction terms of voice and accountability, government effectiveness, and political stability with financial development also give negative coefficients and reduce emission; however, the interaction of control of corruption with financial development is positive and the interaction of rule of law and regulatory quality with carbon dioxide is insignificant. The findings have considerable policy implication for the sample countries on each individual institutional quality indicator and financial institutions in rising environmental sustainability.

Abundance of natural resources and environmental sustainability: the roles of manufacturing value-added, urbanization, and permanent cropland

Sustainable management of natural resources and green urbanization is crucial because it assists the use of resources wisely without unnecessary use and without affecting future generations' needs. This research aims to examine the impact of the abundance of natural resources on China's CO2 emissions while moderating the roles of manufacturing value-added, urbanization, and permanent cropland from 1970 to 2016. This study developed a comprehensive empirical analysis, applied advanced econometric methodologies, and used the generalized linear model (GLM) and robust generalized estimating equation (GEE). Overall, the results conclude that natural resource abundance and permanent cropland are negatively associated with China's CO2 emissions. However, urbanization and manufacturing value-added are negatively related to those CO2 emissions. Moreover, natural resource abundance and permanent cropland improve environmental sustainability while urbanization and manufacturing value-added deteriorate that environmental sustainability. It is suggested that policymakers should promote sustainable management of natural resources and encourage economic usage of natural resources to boost resilient ecosystems; shape sustainable places, lifestyles, and communities; and consume natural resources less. Additionally, policymakers should consider collaborating with landscape architects, urban planners, engineers, transport planners, ecologists, sociologists, physiologists, economists, physicists, and other specialists to develop green urban communities. The limitations of the study and directions for future research are discussed.

A step towards green economic policy framework: role of renewable energy and climate risk for green economic recovery

According to the World Bank, energy efficiency is a critical facilitator of most Sustainable Development Goals. Its contribution to CO2 emission reduction is astounding. Environmentalists have recently emphasized the essential need to determine energy efficiency causes. This research broadens the debate's horizons by proposing additional possible energy efficiency factors using data from the Chinese economy. From 1990 to 2020, we examined the influence of investment in renewable energy resources, financial inclusion, industrial production, and trade openness on China's energy efficiency and climate risk. Additionally, this study is added to the literature by examining the causal relationships between variables while considering the temporal dimension. The findings indicate that industrial production, financial inclusion, public R&D on renewable energy, and trade openness contribute significantly to China's energy efficiency and climate risk. All other factors, except industrial production, are positively associated with energy efficiency. The path of causality is established from energy efficiency and climate risk to financial inclusion, industrial production, renewable energy, public research and development budgets, and trade openness. According to the findings, changes in energy performance have frequency-changing impacts on all variables. Policymakers believe that the financial system must be strengthened since this will significantly influence renewable energy.

The shadow economy-environmental quality nexus in OECD countries: empirical evidence from panel quantile regression

This study examines the heterogenous impact of shadow economy on the ecological footprint. We apply the panel quantile regression to a panel dataset of 32 OECD countries from 1990 to 2015. The estimation results indicate that the shadow economy-ecological footprint nexus follows an inverted U-shaped pattern. Initially, the higher size of the informal economy leads to more ecosystem degradation. When the shadow economy increases to certain thresholds, its environmental impact reverts to benefit. Such threshold changes with the evolution of the ecological footprint. Specifically, it first rises then decreases along with the degradation of the ecosystem. Moreover, the heterogeneous panel causality test reports the one-way directional running from the shadow economy to the ecological footprint in OECD countries. Likewise, environmental effects of other control variables, including trade openness, energy intensity, renewable energy, and income, are also not homogeneous across various levels of the ecological footprint. The significant and heterogeneous relationships between ecological footprint and its determining factors provide insightful implications for governments in tailoring environmental regulations upon different ecological conditions.

The impact of environmental cleanliness and cultural factors on child health in Africa

Africa is a region with abundant natural resources, but the child mortality rate is higher. Despite World Health Organization (WHO) support, the region remained the highest with the number of child mortality rate. Given this fact, this study examines the role of environmental degradation, clean water source, and sanitation facilities on child mortality and life expectancy/longevity in Africa. To achieve this objective, we employ pooled regression and system generalized method of moment (S-GMM) on 33 African countries between 2000 and 2014. We found that environmental degradation is positively related to child mortality and life expectancy or longevity. However, clean water sources and sanitation facilities help to reduce the child mortality rate and help to improve life expectancy. Also, we found cultural norms improve child mortality and life expectancy. Our results imply that African countries are benefitting from cultural values, clean water sources, and sanitation facilities.

Understanding the dynamics of natural resources rents, environmental sustainability, and sustainable economic growth: new insights from China

There is a close relationship between natural resources and production in many sectors, and production and consumption can also have an environmental impact. Low environmental quality affects economic growth and well-being. Environmental protection and economic growth cannot be maximized simultaneously. Choosing the right balance between the two aims is imperative for each country. By moderating the role of merchandise trade and manufacturing value-added from 1970 to 2016, we examine the dynamics of China's natural resource rents, environmental sustainability, and sustainable economic growth. Overall, the results of this study indicate that natural resources improve environmental sustainability at the expense of economic growth. In contrast, financial development, merchandise trade, and urban population growth promote environmental degradation. It is vital to understand governance mechanisms to sustain natural resource policies, considering environmental, social, and governance concerns to benefit society.

Does Chinese foreign direct investment harm CO2 emissions in the Belt and Road Economies

China's Going Global Strategy and Belt and Road Initiative gained great attention among scholars. Moreover, it is believed that Chinese investments abroad cause serious social and environmental externalities. Hence, in this paper, we examine how China's foreign direct investments influence the carbon emissions of 35 Belt and Road Initiative countries from 2000 to 2019. To do so, we use a panel model that accounts for heterogeneity and country cross-section dependence. Our results show that while other countries' foreign direct investments have contributed to the deterioration of the environment in these countries, Chinese investments have not. This substantiates the hypothesis of the halo effect influence of China's foreign investments as opposed to other countries' investments which may seek a haven for its carbon emissions. These results highlight the importance of source and destination regulations of foreign direct investments in terms of their environmental impact and carbon emissions in the Belt and Road Initiative countries. It also provides a fresh finding on the efficacy of China's foreign investment management policies and regulations in producing the desired environmental outcome in hosting countries.

Impact of human capital and financial globalization on environmental degradation in OBOR countries: Critical role of national cultural orientations

As regional economic integration and climate change are among the most important phenomena influencing economic and social sustainability in the modern world, a huge volume of research is directed towards these topics nowadays. The aim of this study is to explore the impact of financial globalization and human capital on environmental degradation in One Belt One Road (OBOR) countries in a cultural context that is largely under-explored in spite of being immensely crucial for fulfilling the United Nations' agenda on climate change mitigation. Owing to the presence of vast cultural differences, we check if the national scores on "Power Distance Index" and "Uncertainty Avoidance" in these countries matter for the environment. To this end, we use the latest and annual data set comprising 31 OBOR countries from 1996 to 2018, and employ panel econometric techniques that effectively deal with the threat of endogeneity. Results show that human capital improves environment while financial globalization deteriorates it. Interestingly, high power distance and uncertainty avoidance can reverse the positive impact of human capital. Similarly, financial globalization is favorable for environment in countries with low power distance and uncertainty avoidance. The findings are robust to the use of alternative specifications. Theoretical underpinnings and implications are discussed arising from the interesting reversal of traditional impacts in different cultural scenarios. Specifically, we recommend a culture of entrepreneurship, innovation, and inclusivity, promoted through increased tolerance towards risk-taking and participative decision-making to reap the benefits of human capital and globalization in improving the environment. Our results have important implications for climate change mitigation endeavors in OBOR countries and understanding the cultural context in this regard. Additionally, our study opens a vast avenue for the related research work in the future.

Role of alternative and nuclear energy in stimulating environmental sustainability: impact of government expenditures

Environmental sustainability is fundamental to the survival of our planet and ourselves, as polluted air, water, and land severely affect communities and society to thrive and damage the quality of life. This study examined the role of alternative and nuclear energy in stimulating the environment sustainably while mediating the function of government expenditure and economic growth in the top three highest CO₂ emitter countries. We apply advanced econometric methodologies for empirical analysis from 1981 to 2016 and find long-run relationships among the variables that suggest general government final consumption expenditure and economic growth are positively related to CO₂ emissions. Moreover, alternative and nuclear energy and the square root of economic growth (EKC) improve environmental sustainability. The general government's final consumption expenditure and economic growth deteriorate environmental sustainability. Policymakers in the top three highest CO₂ emitter countries are encouraged to adopt a comprehensive approach to access the compatibility of alternative and nuclear energy sources, changing the source of uranium from mined ore to seawater, encourage, tide, and include macroeconomic stabilization, public and private fiscal position goals with the environmental sustainability policies. Moreover, governments are suggested to incorporate green fiscal policies to address the global environmental challenges and promote a green economy. Aligning government expenditures with environmental goals, reflecting externalities in prices, broader fiscal reform by making fiscal space for clean and green investment is highly encouraged to achieve the sustainable development goals' target. Study limitations and directions for future research in the area are presented.

Environmental degradation and financial development: do institutional quality and human capital make a difference in G11 nations?

Developing nations are rushing towards economic developments; however, this development is increasing the ecological footprints. In this regard, it has become important to identify the factors of environmental degradation. For sound economic growth, countries are enhancing their human resources with sound financial institutions. Therefore, this work examines the effects of human capital (HC), financial development (FD), and institutional quality (IQ) on ecological footprints (EF) in the group of 11 countries. This work also checks the interactional effect of FD, human capital, and IQ on ecological footprints. This work employs the annual data of 1984-2017 and utilizes the cross-sectional autoregressive distributed lag approach for panel data analysis (CS-ARDL). The findings show that FD is degrading the environmental quality by 0.04%. Furthermore, IQ and HC are improving environmental quality by 0.07% and 0.01%. The findings also reveal that FD is lowering ecological footprints through the channel of HC and IQ. Based on the findings, these countries need to extend human capital with an efficient institutional network for environmental sustainability. These countries need to allocate funds to the health and education sector to develop human capital. Moreover, human resource management tools should be strengthened to cope with the challenges of environmental problems.

Does foreign private investment affect the clean industrial environment? Nexus among foreign private investment, CO2 emissions, energy consumption, trade openness, and sustainable economic growth

This study examines to what extent foreign private investment (FPI) affects the clean industrial environment and sustainable economic growth through developed countries investment in China. Moreover, this study investigates an association among FPI, CO2 emission, energy consumption, trade openness, and sustainable economic growth. This study uses random effects and generalized least squares (GLS) and panel VAR estimators for data analysis. The results show that China's economy has a great positive impact on the location and choice of investment in domestic markets in emerging countries and developed countries. In addition, investment in emerging and developed economies has increased the contribution of domestic enterprises and environmental sustainability to the national economy. The further results show that foreign private investment and gross domestic investment have positive impact on sustainable economic growth.

Clean energy investment and financial development as determinants of environment and sustainable economic growth: evidence from China

Environmental sustainability has become one of the most common phrases in discussions about climate change. This study examines the impact of clean energy investment and financial development on environmental sustainability and China's economic growth, using manufacturing value-added and urbanization as moderator variables from 1970 to 2016. We used advanced econometric methodologies for empirical estimations, used structural break unit root tests, fully modified least square, dynamic least square, and robust least square multiple regressions for long-run estimates. Overall, the results determine that clean energy investment is negatively associated with CO₂ emissions and ecological footprint while positively associated with China's economic growth. Financial development, manufacturing value-added, and urbanization are positively associated with CO₂ emissions, ecological footprint, and China's economic growth. Moreover, clean energy investment improves environmental sustainability at the expense of economic growth. Financial development, manufacturing value-added, and urbanization encourage economic growth at the expense of environmental sustainability. We argued that the local governments play a critical role in lifting the outstanding barriers to cleaner energy investment, addressing disincentives, including pricing carbon dioxide emissions, reforming inefficient nonrenewable fossil fuel subsidies, and addressing regulatory and market rigidities that can undesirably affect the attractiveness of clean energy investment. Policymakers are suggested to encourage green finance strategy for the financial sector to broader sustainable development objectives. At the heart of green manufacturing, industrialization policies are needed to integrate diverse intentions, like inclusive growth, environmental protection, and productivity through a wider range of economic, social, and environmental policy frameworks suitable for decoupling growth from social and environmental unsustainability.

Impact on carbon emissions of online study for a cohort of overseas students: A retrospective cohort study

Background: One of the benefits of online education is the potential reduction in carbon emissions through the decrease in travel to attend a university in person. We estimated the savings in CO ₂ emissions of an international cohort of master’s students who studied fully online from their home countries, rather than travelling to the UK and living there while attending university.

Methods: The city and country of residence of a cohort of students who first enrolled in the fully online Peoples-uni/Manchester Metropolitan University Master of Public Health programme between the second semester of 2011 and the first semester 2013 were recorded. Total difference in emissions was calculated by adding the estimated aviation emissions between Manchester, UK and the cities where students resided, to the difference in per capita emissions between the country of origin and the UK for the time that the student would have spent in Manchester, based on the semester in which they first enrolled.

Results: 128 students enrolled from 70 cities in 30 countries. 93 students were from a range of African countries and 18 from the Indian sub-continent. Flights to and from Manchester were estimated to have accounted for 114,553kg of CO ₂ and living in Manchester for the duration of their course compared with staying in the home country would have been equivalent to 854,904kg of CO ₂. The combined net savings was 969,457kg of CO ₂.

Conclusions: A small cohort of overseas students, largely from Africa and India, studied online rather than attending university in the UK. The likely saving by this small cohort of nearly a million kg of CO ₂ emissions offers an indication of the potential environmental benefits of offering university education online to overseas students.

A study of energy investment and environmental sustainability nexus in China: a bootstrap replications analysis

Environmental sustainability is increasing emphasis on global environmental concerns at the forefront of public policy debate. This paper investigates the relationship between energy investments and environmental sustainability in China from 1980 to 2018 while considering the moderating effect of international trade and economic growth under the environment Kuznets curve (EKC) framework. We apply advanced econometric modeling for empirical analysis. Our findings show that energy investment and economic growth are positive, while international trade is negatively associated with ecological footprints. Moreover, economic growth and energy investment deteriorate, while international trade improves environmental sustainability. This empirical evidence suggests the improvements in cleaner energy infrastructure with the participation of the private sector to promote clean energy investment. We argue that policymakers should ensure environmental provisions in the regional and bilateral trade agreements to harmonize the environmental regulations, and develop crucial trade and ecological policy indicators to monitor policy consistency.

Does diversified environmental regulation make FDI cleaner and more beneficial to China's green growth?

With the internationalization and financial development, it is urgent to explore the effect of foreign direct investment on green economy under the context of multiple environmental regulations. By using the provincial panel data in the period of 2000-2016, the paper adopts the System Generalized Method of Moments and threshold models to detect the moderating effect of diversified environmental regulation on the nexus between foreign direct investment and green growth in China. The empirical results reveal that foreign direct investment has direct positive spillovers on China's green growth and supports the "pollution halo" hypothesis. There is a threshold effect of command-and-control regulation that exists in foreign direct investment's spillovers to green growth. Stricter command-and-control regulation can stimulate foreign direct investment's spillovers on green growth in China; however, market-based and informal regulations fail to. Some suggestions are proposed for constructing a matched and compatible policy system of foreign direct investment, environment protection, and economic growth by adjusting the intensity, tools, and enforcement of corresponding policies.

Dynamics among economic growth, urbanization, and environmental sustainability in IEA countries: the role of industry value-added

As an indicator of environmental degradation, the ecological footprint has seen a terrific focus in the literature. We explore the dynamics among economic growth, urbanization, and environmental sustainability in the presence of population growth and industry value-added in the thirty International Energy Agency (IEA) member countries. We apply advanced econometric modeling for empirical analysis over the period 1992 to 2016. This study's short-run results suggest that capital formation and biocapacity increase ecological footprint in the short run. The findings of long-run estimates demonstrate that industrial value-added and capital formation improve environmental sustainability. However, economic growth, urbanization, biocapacity, and population growth deteriorate environmental sustainability in the long run. Policymakers in the IEA countries are encouraged to establish policies that promote a sustained lifestyle, ecological awareness, clean technological innovations, efficient production and consumption measures, and enlarge cities to limit the adverse effects of urbanization on environmental sustainability. Finally, study limitations and future research directions are discussed.

Territorial development models: A new strategic vision to analyze the relationship between the environment, public goods and geographical indications

Geographical indications (GIs) are increasingly seen as a tool to support sustainable local development. This study focuses on how geographical indications can contribute to a territorial public system, and how this can be threatened by several market failures. Starting from the economic literature on public goods, this document highlights how geographical indications, and their legal protection, can guarantee a sustainable development model. This article aims to illustrate and develop new economic arguments that support a more comprehensive political approach to the contribution that Geographical indications make to sustainable development. The research is focused in Sicily on the production of Pachino Tomatoes with Geographical Indication. This production has an ancient tradition and is located in the center of the Mediterranean. Because of that, it is appreciated in food markets. The study, carried out through the application of the "successful entrepreneurial formula" model, was implemented through a telephone survey of the actors in the production system. The results of the study highlight how territorial public goods based on cohesion represent the vector for the resilience of the agricultural landscape and the growth of the entire region in which the agri-food product is developed. An important aspect, as demonstrated in the paper, is the role of information on the product and the territory. Nowadays, dominance at the competitive system level and social cohesion do not guarantee the success of agri-food production. The study shows that the success of GIs depends on the role of communication that conveys information. This study is new compared to previous ones on the subject, as it applies the business economic approach of the successful entrepreneurial formula to a problem of business competitiveness and, in general, of the territory.

Determinants of green growth in developed and developing countries

Considering the need for environmental sustainability while ensuring economic growth and development by 2030, this study uses data on 123 developed and developing countries to examine factors that influence green growth. The empirical results show that economic development positively influences green growth. However, trade openness is detrimental to green growth. Regarding energy-related factors, we find energy consumption negatively affecting green growth, but renewable energy consumption significantly improves green growth. In further analysis, we find that the influence of these factors differs between developed and developing countries. The result implies that countries at a different development level will require different strategies in achieving the Sustainable Development Goals in 2030. The results are robust to alternative identification strategies such as the System Generalised Method of Movement, which accounts for potential endogeneity.

Does multilateral environmental diplomacy improve environmental quality? The case of the United States

International environmental agreements have multiplied over the last five decades. We examine the impact of multilateral environmental diplomacy on carbon dioxide (CO₂) emissions in the presence of capital formation, renewable energy consumption, and economic growth using the framework of the Environment Kuznets Curve (EKC) and data from the United States from 1980 to 2015. We developed a comprehensive empirical analysis using Zivot-Andrews structural break unit root tests. Co-integration analysis indicates long-run relationships of the variables. The results of the generalized linear models (GLMs) and robust least secure (ROBUSTLS) approach reveal that environmental diplomacy, capital formation, and economic growth deteriorate environmental quality in the long run, while renewable energy consumption improves it. These results support the EKC hypothesis for the United States and suggest that, in the early stages, increased environmental diplomacy stimulates CO₂ emissions to a point, after which CO₂ emissions start declining with further increases in international commitments and strong diplomatic relationships among countries. Policy implications for the United States are presented.

Environmental treaties' impact on the environment in resource-rich and non-resource-rich countries

This paper examines the impact of environmental treaties on the environment across 74 countries: 50 resource-rich and 24 non-resource-rich countries. Using data spanning over 35 years, we find a negative and significant association between environmental treaties and environmental quality in resource-rich countries. On the contrary, we find environmental treaties positively and significantly affect the environment in non-resource-rich countries. Our results suggest that the environmental treaties signed by resource-rich countries may lead them to achieve sustainable development growth by 2030. Therefore, our results extend the environment literature and inform policymakers of the need to pay attention to the effects of signing environmental treaties on environmental protection.