The role of ICT investment, digital financial inclusion, and environmental tax in promoting sustainable energy development in the MENA region: Evidences with Dynamic Common Correlated Effects (DCE) and instrumental variable-adjusted DCE

His research investigates the interplay among investment in Information and Communication Technology [ICT], digital financial inclusion, environmental tax policies, and their impact on the progression of sustainable energy development within the Middle East and North Africa [MENA] region. Recognizing the distinctive hurdles impeding sustainable energy advancement, effective policy formulation and implementation in MENA necessitate a comprehensive understanding of these variables. Employing a Dynamic Common Correlated Effects [DCE] model alongside an instrumental variable-adjusted DCE approach, this study explores the relationship between ICT investment, digital financial inclusion, environmental tax, and sustainable energy development. The DCE model facilitates the analysis of dynamic effects and potential correlations, while the instrumental variable-adjusted DCE model addresses issues pertaining to endogeneity. The results indicate that both ICT investment and the promotion of digital financial inclusion significantly and positively impact sustainable energy development in the MENA region. Additionally, the study underscores the importance of environmental tax implementation in fostering sustainable energy advancement, highlighting the critical role of environmental policy interventions. Based on these findings, governmental prioritization of ICT investment and initiatives for digital financial service integration is recommended to bolster sustainable energy growth in MENA. Furthermore, the adoption of efficient environmental tax measures is essential to incentivize sustainable energy practices and mitigate environmental degradation. These policy recommendations aim to create a conducive environment for sustainable energy progression in the MENA region, contributing to both economic prosperity and environmental conservation.

Can low-carbon cities pilot policy promote enterprise sustainable development? Quasi-experimental evidence from China

With the predicament of sustainable improvement in traditional cities, the low-carbon city pilot policy (LCCPP), as a novel development mode, provides thinking for resolving the tensions of green development, resource conservation and environmental protection among firms. Using Chinese A-share listed companies panel data during 2007-2019, this study adopts the difference-in-differences model to explore the impact of LCCPP on firm green innovation. Based on theoretical analysis, LCCPP-driven environmental rules have the impact of encouraging business green innovation. The relationship between LCCPP and green innovation is strengthened by external media attention and organizational redundancy resources. The mechanism study shows that the incentive effect of LCCPP on firm green innovation is mainly due to the improvement of enterprises' green total factor productivity and financial stability. In addition, the heterogeneity analysis shows that the LCCPP has significantly positive effects in promoting green innovation in high-carbon industries and state-owned enterprises. This research contributes to the understanding of city-level low-carbon policies as a driving force for corporate green innovation, offering practical implications for policymakers and businesses striving for sustainability.

Corporate ESG and total factor productivity: Will the fulfillment of social responsibility sacrifice productivity?

With the increasing prominence of climate and energy issues, enterprises, as the micro-subjects of economic activities, need to pay attention to environmental responsibility to promote sustainable and high-quality economic development. However, one of the crucial controversies is whether enterprises will sacrifice efficiency to fulfill their environmental responsibilities. To try our best to answer the controversy, this paper explores the impact of ESG on total factor productivity and its mechanism. The research conclusion shows that Chinese enterprises fulfilling ESG responsibilities can improve staff efficiency, reduce financing costs, ease financing constraints, and increase innovation investment, thus effectively improving total factor productivity. Compared to non-state-owned enterprises, this effect is more significant in state-owned enterprises. In addition, the promotion of ESG construction on the total factor productivity of enterprises also presents specific acceleration characteristics. This shows that in the socialist market economy environment, there is an obvious "social responsibility dividend" in the implementation of the ESG concept by Chinese enterprises, which is helpful to enhance their long-term value and realize a win-win of social value and commercial value. The conclusions of this study help deal correctly with the relationship between business value and social value of enterprises and provide inspiration for promoting healthy and sustainable economic development.

Green finance and corporate environmental investment: "Scale Up" or "Efficiency Up"?

The establishment of green finance reform and innovation (GFRI) pilot zone is an important measure of the Chinese government to urge enterprises to develop green transformation. This paper explores the impact of pilot policies in the GFRI pilot zone on corporate environmental investment. Based on 819 A-share listed enterprises from 2010 to 2020, our staggered difference-in-differences (staggered DID) estimation documents revealed that enterprises in the GFRI pilot zone significantly increased the corporate environmental investment efficiency but reduced the scale of corporate environmental investment.This conclusion remained robust after Propensity Scores Matching difference-in-differences (PSM-DID), replacing dependent variables, and shortening the time window. We contend that the increased research and development (R&D) expenditure and technological innovation are the potential mechanisms at work. Heterogeneity analysis showed that the establishment of GFRI improved the environmental investment efficiency of polluting enterprises but had no effect on green enterprises.Meanwhile, the effect of GFRI exhibited heterogeneity in the type of enterprise ownership. This paper evaluates the implementation effect of GFRI from the perspective of corporate environmental investment, and provides theoretical support and an empirical basis for green finance policy to serve China's green economy.

Designing a circular carbon and plastics economy for a sustainable future

The linear production and consumption of plastics today is unsustainable. It creates large amounts of unnecessary and mismanaged waste, pollution and carbon dioxide emissions, undermining global climate targets and the Sustainable Development Goals. This Perspective provides an integrated technological, economic and legal view on how to deliver a circular carbon and plastics economy that minimizes carbon dioxide emissions. Different pathways that maximize recirculation of carbon (dioxide) between plastics waste and feedstocks are outlined, including mechanical, chemical and biological recycling, and those involving the use of biomass and carbon dioxide. Four future scenarios are described, only one of which achieves sufficient greenhouse gas savings in line with global climate targets. Such a bold system change requires 50% reduction in future plastic demand, complete phase-out of fossil-derived plastics, 95% recycling rates of retrievable plastics and use of renewable energy. It is hard to overstate the challenge of achieving this goal. We therefore present a roadmap outlining the scale and timing of the economic and legal interventions that could possibly support this. Assessing the service lifespan and recoverability of plastic products, along with considerations of sufficiency and smart design, can moreover provide design principles to guide future manufacturing, use and disposal of plastics.

Utilizing green financing in developing green HRM resources for carbon neutrality: presenting multidimensional perspectives of China

This study examines how green finance may encourage the development of green human resource management (HRM) solutions to help China achieve carbon neutrality. For an empirical estimate, the Chinese data is subjected to DEA analysis, Tobit regression, and a sensitivity analysis model. The findings highlight the significance of green finance in the creation of green HRM solutions that aid firms in enhancing their environmental performance, boosting employee happiness, and getting them closer to their carbon neutrality goals. With the use of tools like green bonds and sustainable investment funds, businesses may raise capital for sustainability projects and encourage the adoption of environmentally responsible HRM practices. Moreover, the study results discussed the need to incorporate environmental sustainability considerations into HRM plans, enabling organizations to cultivate a sustainable culture and engage employees in supporting carbon neutrality through green practices in talent acquisition, training and development, performance management, and employee engagement. Incorporating environmental sustainability into HRM processes, boosting stakeholder involvement, and looking into new funding methods are all points emphasized in the study, which aims to enhance the uptake of green HRM initiatives.

How does transition finance influence green innovation of high-polluting and high-energy-consuming enterprises? Evidence from China

Under the impact of "double-carbon" target, transition finance has an important impact on green innovation of Chinese double-high enterprises. Using a sample of 4270 high-polluting and high-energy-consumption listed enterprises (referred to as double-high enterprises) in China from 2012 to 2021, this paper empirically examines the impact of transition finance on the green innovation of China's double-high enterprises by using a fixed-effects model. The study finds that transition finance can have a facilitating effect on green innovation in double-high enterprises. The intermediary mechanism test shows that transition finance can promote green innovation of double-high enterprises through alleviating financing constraints, increasing the level of green management, and enhancing the policy orientation effect. The heterogeneity test finds that transition finance promotes green innovation more significantly for the double-high enterprises that are state-owned, large-scale, and located in regions with high levels of intellectual property protection. Further research finds that the role of transition finance in promoting green innovation in double-high enterprises helps to promote the achievement of green development of double-high enterprises.

All roads lead to Rome? The impact of heterogeneous green finance on carbon reduction of Chinese manufacturing enterprises

Based on the system theory and Pareto efficiency theory, this paper, based on the data of listed companies in China's A-share manufacturing industry in 2011-2022, explores the impact of market-driven green finance and government-guided green finance on the carbon emission intensity of manufacturing enterprises, and analyzes the intermediary role of debt financing cost. A negative "U" relationship exists in market-driven green finance/government-guided green finance and the carbon emission intensity of manufacturing enterprises. Further research shows that under the higher debt financing cost, market-driven green finance played a weaker carbon reduction effect. The heterogeneity analysis found that market-driven green finance can have a significant non-linear impact of "promoting growth first and weakening later" on the carbon emissions of energy-saving and environmental protection enterprises, large enterprises, and enterprises with high human capital levels. Government-guided green finance has a significant non-linear impact on non-energy-saving and environmental protection enterprises and small enterprises. This paper provides the theoretical basis and practical inspiration for the government to formulate relevant low-carbon development policies and promote the innovation of green financial tools in the financial market.

Does circular economy affect environmental performance? The mediating role of sustainable supply chain management: the case study in China

Governments and professionals have recently tried to improve public environmental knowledge and laws in order to meet growing environmental concerns. As a result, most nations see corporate environmental initiatives like the circular economy and the green supply chain as important (GSCM) as the best ways to address environmental problems. As a result, this study tries to show how important GSCM and the circular economy are regarding the economy of China's relationship to environmental sustainability. This study uses the partial least square structural equation model (PLS-SEM) on data to obtain trustworthy results from 387 Chinese manufacturing companies. A favorable and statistically significant correlation between GSCM, environmental performance, and the circular economy was revealed using PLS-SEM analysis. To raise environmental standards, eco-friendly methods like buying and designing green items are widely regarded today. Imagine if manufacturing companies adopt green supply chain management, which would improve their economic performance and increase operational effectiveness. The secret to a successful corporation is having successful operations.

Green finance and environmental, social, and governance: evidence from Chinese listed companies

In recent years, academics have paid more attention to green finance, and public companies have reached a broad consensus on the concept of timely environmental, social, and governance (ESG) disclosure. Due to the close relationship between green finance and ESG, this presents an opportunity to determine whether green finance compels companies to actively disclose ESG. The sample for this study consists of China's non-financial A-share listed companies from 2010 to 2021, and the empirical findings demonstrate that green finance can positively influence the ESG performance of listed companies. Through an analysis of heterogeneity, this study reaches the following conclusions: state-owned enterprises, heavy pollution companies, and companies in low-carbon pilot cities perform better in terms of green finance's role in promoting ESG scoring. This study also introduces market concentration and social trust as the moderating variables, enriching the green finance research framework. Through the analysis of moderating variables, the 'black box' effect of green finance on ESG is disclosed, providing theoretical support for the government and companies to better comprehend the policy effect as well as a reference for reform and experimental promotion of green finance.

The impact of sustainable public procurement on corporate ESG performance-The Chinese evidence

Public procurement is an important bridge between public demand and market supply and may affect corporate behavior. However, in the advocacy of sustainable development, the extant research has rarely combined sustainable public procurement (SPP) with corporate ESG performance, to explore whether governments have contributed to the development of sustainable corporate performance through their sustainable procurement activities. This paper fills in the gap by matching the actual implementation of SPP of 42,369 projects in China over 2015~2020 with 20,125 corporate ESG performance data, to analyze the relationship between SPP implementation and corporate ESG performance. The results show that the implementation of SPP has a significant positive impact on corporate ESG performance. Further heterogeneity analysis reveals that the impact is stronger in China's eastern and central regions than in other regions, and corporates at a mature stage are more likely to follow the government sustainable behavior. In addition, the implementation of SPP has a long-term effect on corporate ESG performance. The above findings have important policy implications: firstly, there is a better role for government to play as the "invisible hand", to participate in the market economy; Specifically, SPP policy should be added to government policy tool box to improve corporate ESG performance in addition to disclosure requirement, and the SPP policy employed should in particular attend to the "missing sectors" of sustainability in SPP for the good of corporate ESG; secondly, the government should implement differentiated policies tailored to the region's economic development conditions and corporate development characteristics; thirdly, a long-term evaluation mechanism should be established so that the government can play a more long-term demonstration and leading role.

Does the individual effect of resource rents imperative in the attainment of environmental sustainability? Evidence of Southeast Asian economies

This study investigates the impact of natural resource exploitation on environmental sustainability in Southeast Asian economies, while testing the Environmental Kuznets Curve (EKC) inverted U-shaped hypothesis, a model which suggests an initial increase in environmental degradation with economic growth followed by a decrease at a certain level of income. Utilizing World Development Indicators data from 1995 to 2018, the research dissects the long-term influence of various resource rents, namely coal, oil, and forest. The research highlights the indispensable role of renewable energy in maintaining ecological balance. Results indicate that while coal rent exacerbates environmental degradation, forest and oil rents prove eco-friendly, although this is only confirmed in fully modified OLS estimation. The study underscores the importance of forest rents in achieving environmental sustainability. Renewable energy emerges as vital for promoting sustainable low-carbon practices. In line with the EKC hypothesis, the study finds that economic growth initially increases carbon emissions, but eventually reduces them. It calls for appropriate measures to manage resource exploitation, ensure renewable energy availability, alleviate energy poverty, and curb deforestation, thereby mitigating ecological damage.

Assessing the impact of trade policy uncertainty on pollution emissions: an analysis of Chinese firms' green transformation

Oscillations in the global trade milieu have exacerbated the ambiguity experienced by Chinese enterprises, thereby influencing their ecological transition. The ongoing debate over whether trade uncertainty augments corporate emissions, exacerbating pollution, or attenuates emissions, encouraging sustainable production, has yet to reach a consensus. The current investigation employs a textual analysis methodology to explore the influence of trade policy uncertainty on pollution emissions, by sourcing indicators of trade policy uncertainty that echo firm-level uncertainty within the period 2008 to 2021. Utilizing the fixed effects model for our analysis, the findings substantiate that escalated uncertainty at the micro-level catalyzes an increase in pollution emissions originating from firms. Crucially, we find that risk diversification and innovation bolster firms' capacities to manage pollution under escalating uncertainty. Furthermore, our estimation reveals that enterprises with low market competitiveness, high financial constraints, and moderate overseas market share are most significantly impacted, whereas those with robust patent portfolios remain largely unaffected. This study carries considerable implications for firms striving to achieve an ecological transition and offers insights for fostering sustainable and high-quality global economic development.

Does the implementation of green finance regulation promote the high-quality development of enterprises? Evidence from a quasi-natural experiment in China

The improvement of enterprise total factor productivity and labor productivity is the micro-embodiment of high-quality economic development. Green finance relies on the dual functions of resource allocation and environmental regulation to guide enterprises to adjust their mode of operation through incentive and restraint mechanisms, attach importance to energy conservation and environmental protection, and guide enterprises to develop with high quality. Taking the construction of the green financial supervision system in 2016 as a quasi-natural experiment, we constructed a difference-in-difference model to investigate the impact and mechanism of green finance on the high-quality development of enterprises, based on the panel data of Chinese A-share listed companies from 2006 to 2020. The results show that the implementation of green finance effectively promotes the high-quality development of enterprises. This promotion effect is heterogeneous from perspectives of enterprise-specific characteristics, executive education background, and environmental regulation intensity. The influence mechanisms mainly rely on tightening financial constraints, upgrading the level of green technology innovation, and improving the quality of internal control. These findings provide an important decision-making reference for better implementing green finance policies and promoting high-quality economic development under the green and low-carbon concept and carbon peak carbon neutrality goals.

How does the digital economy affect the development of the green economy? Evidence from Chinese cities

The digital economy may accelerate the upgrading of industrial structures and boost regional innovation output, effectively contributing to China's green economic transformation. The impact of the digital economy on developing the urban green economy is analyzed using data from 280 cities across China from 2010-2019. Using a fixed-effects model and the Spatial Durbin model, the digital economy is found to have a significant impact on urban green economy development. This result is shown to be robust to various factors. There is significant regional variability in the impact of the digital economy on green economic growth, with the strongest impact in the northeast, followed by the central and western regions. Meanwhile, non-resource-based cities and policy pilot cities have a more pronounced role in promoting the digital economy. The intermediate transmission chain of industrial structural upgrading and regional innovation output fosters the growth of the urban green economy via the digital economy. Regional innovation production is responsible for 30.848% of this growth, with the intermediate effect of industrial structural upgrading contributing to 38.155%.

Digital finance and regional green innovation: the perspective of environmental regulation

The relationship between digital finance and regional green innovation has been partially confirmed, yet the role of environmental regulation in it remains unexplored. Therefore, this paper examines the impact of digital finance on regional green innovation and tests the moderating role of environmental regulation using Chinese city-level data from 2011 to 2019 as a research sample. The results show that digital finance can significantly promote regional green innovation by alleviating regional financing constraints and increasing regional R&D investment. Besides, digital finance has apparent regional difference effects (the contribution of digital finance to regional green innovation is greater in eastern China than in western China, and the development of digital finance in neighbouring regions has a negative transmission effect on local green innovation). Finally, environmental regulation positively moderates the relationship between digital finance and regional green innovation. This paper explores the relationship between digital finance and regional green innovation from the perspective of environmental regulation, providing empirical evidence to promote regional green innovation.

Can green finance promote green technology innovation in enterprises: empirical evidence from China

Green technology innovation is a crucial step in China's transition towards a green economy and has received substantial financial support through green finance. However, China's efficacy in using green finance to serve enterprise green technology innovation is still at an exploratory stage. This study takes the 2017 policy of the Chinese government on "Green Finance Reform and Innovation Pilot Zones" as a quasi-natural experiment and constructs a difference-in-difference model to examine the impact of green finance on enterprise green technology innovation. The research results reveal that green financial policies significantly promote green technology innovation and have an incentive effect on the application of green invention patents and green utility model patents, with this conclusion being robust. This is particularly true for large-scale enterprises, state-owned enterprises, and non-heavy polluting enterprises. Compared to large-scale enterprises, state-owned enterprises, and non-heavy-polluting enterprises are more inclined to apply for green invention patents. Inspection of influence mechanisms suggests that green finance policies alleviate financing constraints and signaling effect to improve enterprises' green innovation, whereas external market supervision is ineffective. Based on empirical results, relevant policy suggestions are proposed to help green finance better serve enterprises' green innovation.

Diverse values of nature for sustainability

Twenty-five years since foundational publications on valuing ecosystem services for human well-being1,2, addressing the global biodiversity crisis3 still implies confronting barriers to incorporating nature's diverse values into decision-making. These barriers include powerful interests supported by current norms and legal rules such as property rights, which determine whose values and which values of nature are acted on. A better understanding of how and why nature is (under)valued is more urgent than ever4. Notwithstanding agreements to incorporate nature's values into actions, including the Kunming-Montreal Global Biodiversity Framework (GBF)5 and the UN Sustainable Development Goals6, predominant environmental and development policies still prioritize a subset of values, particularly those linked to markets, and ignore other ways people relate to and benefit from nature7. Arguably, a 'values crisis' underpins the intertwined crises of biodiversity loss and climate change8, pandemic emergence9 and socio-environmental injustices10. On the basis of more than 50,000 scientific publications, policy documents and Indigenous and local knowledge sources, the Intergovernmental Platform on Biodiversity and Ecosystem Services (IPBES) assessed knowledge on nature's diverse values and valuation methods to gain insights into their role in policymaking and fuller integration into decisions7,11. Applying this evidence, combinations of values-centred approaches are proposed to improve valuation and address barriers to uptake, ultimately leveraging transformative changes towards more just (that is, fair treatment of people and nature, including inter- and intragenerational equity) and sustainable futures.

Assessing SDG-3 efficiency for SDG-1 by studying interplay of tourism development, poverty alleviation and sustainability

The modern world is facing chaos of different connected issues. Achieving sustainability in the tourism industry for poverty reduction is one of them, having limited guidance for stakeholders. Thus, following SDG-3 guidelines for good well-being via tourism development could contribute to SDG-1 for no poverty. This roadmap needs scientific validation. Therefore, this research aims to determine how much of an overall impact tourism has on alleviating poverty and what factors account for the wide range of estimates of that impact. Using data from 2002 to 2020 and the ARDL model with eight variables, including (a) currency supply, (b) GDP per capita, and (c) tourism earnings higher GDP area, the current emphasis is on reducing the likelihood of any negative impacts this business may have on tourism. Lower Gross Domestic Product (GDP) regions, higher profits per capita from tourism, and reduced poverty all have a role. With a 1% significance threshold, the observed data becomes more convincing. Last, the results show that the Laotian government intends for tourism to contribute to long-term environmentally responsible financial development. In addition, the study's empirical results corroborated the conclusion that policymakers should encourage the successful expansion of the tourist industry.

The impact of green taxes on green innovation of enterprises: a quasi-natural experiment based on the levy of environmental protection taxes

Green innovation is a strategic choice for Chinese enterprises to achieve in balancing economic performance and environmental benefits. Environmental protection tax (EPT) is the first green tax in China. How to fully leverage the institutional dividends of environmental tax reform to achieve green innovation in enterprises is of great significance for the high-quality development of China's current economy. This study takes the levy of environmental protection taxes as the quasi-natural experiment and uses DID, DDD, PSM-DID and so on to verify the impact of EPT on green innovation. The results show that EPT can improve green innovation through the path of legitimacy pressure and legitimacy management. Notably, the effects are more obvious in enterprises with non-state-owned, low-financing constraints and located in the eastern region. Furthermore, green innovations under the push of environmental protection tax can improve long-term performance, while it has a negative effect on short-term performance. The levy of EPT has the dual dividend effect of economy and environment. Moreover, this study explores the source of the legitimacy pressure and the strategic response of enterprises and provides guidance for government's precise implementation of policies to optimize the role of EPT in green innovation.

The impact of green financial development on stock price crash risk from the perspective of information asymmetry in Chinese listed companies

Solving the crash risk problem of corporate stock price caused by information asymmetry can mitigate the negative externality of its carbon emission to become green, low-carbon, and high-quality development. Green finance generally profoundly impacts micro-corporate economics and macro-financial systems but remains a giant puzzle of whether they can effectively resolve the crash risk. This paper examined the impact of green financial development on the stock price crash risk using the sample data of non-financial listed companies in Shanghai and Shenzhen A stock market in China from 2009 to 2020. We found that green financial development significantly inhibits the stock price crash risk; this is more obvious in listed companies with a high level of asymmetric information. And companies in high-level regions of green financial development attracted more attention from institutional investors and analysts. As a result, they disclosed more information about their operational status, thus reducing the crash risk of corporate stock price from the torrential public pressure of lousy environmental details. Therefore, this study will help continuously discuss the costs, benefits, and value promotion of green finance for synergy between corporate performance and environmental performance to improve ESG capabilities.

Crop switching can enhance environmental sustainability and farmer incomes in China

Achieving food-system sustainability is a multidimensional challenge. In China, a doubling of crop production since 1990 has compromised other dimensions of sustainability1,2. Although the country is promoting various interventions to enhance production efficiency and reduce environmental impacts3, there is little understanding of whether crop switching can achieve more sustainable cropping systems and whether coordinated action is needed to avoid tradeoffs. Here we combine high-resolution data on crop-specific yields, harvested areas, environmental footprints and farmer incomes to first quantify the current state of crop-production sustainability. Under varying levels of inter-ministerial and central coordination, we perform spatial optimizations that redistribute crops to meet a suite of agricultural sustainable development targets. With a siloed approach-in which each government ministry seeks to improve a single sustainability outcome in isolation-crop switching could realize large individual benefits but produce tradeoffs for other dimensions and between regions. In cases of central coordination-in which tradeoffs are prevented-we find marked co-benefits for environmental-impact reductions (blue water (-4.5% to -18.5%), green water (-4.4% to -9.5%), greenhouse gases (GHGs) (-1.7% to -7.7%), fertilizers (-5.2% to -10.9%), pesticides (-4.3% to -10.8%)) and increased farmer incomes (+2.9% to +7.5%). These outcomes of centrally coordinated crop switching can contribute substantially (23-40% across dimensions) towards China's 2030 agricultural sustainable development targets and potentially produce global resource savings. This integrated approach can inform feasible targeted agricultural interventions that achieve sustainability co-benefits across several dimensions.

Four ways blue foods can help achieve food system ambitions across nations

Blue foods, sourced in aquatic environments, are important for the economies, livelihoods, nutritional security and cultures of people in many nations. They are often nutrient rich1, generate lower emissions and impacts on land and water than many terrestrial meats2, and contribute to the health3, wellbeing and livelihoods of many rural communities4. The Blue Food Assessment recently evaluated nutritional, environmental, economic and justice dimensions of blue foods globally. Here we integrate these findings and translate them into four policy objectives to help realize the contributions that blue foods can make to national food systems around the world: ensuring supplies of critical nutrients, providing healthy alternatives to terrestrial meat, reducing dietary environmental footprints and safeguarding blue food contributions to nutrition, just economies and livelihoods under a changing climate. To account for how context-specific environmental, socio-economic and cultural aspects affect this contribution, we assess the relevance of each policy objective for individual countries, and examine associated co-benefits and trade-offs at national and international scales. We find that in many African and South American nations, facilitating consumption of culturally relevant blue food, especially among nutritionally vulnerable population segments, could address vitamin B12 and omega-3 deficiencies. Meanwhile, in many global North nations, cardiovascular disease rates and large greenhouse gas footprints from ruminant meat intake could be lowered through moderate consumption of seafood with low environmental impact. The analytical framework we provide also identifies countries with high future risk, for whom climate adaptation of blue food systems will be particularly important. Overall the framework helps decision makers to assess the blue food policy objectives most relevant to their geographies, and to compare and contrast the benefits and trade-offs associated with pursuing these objectives.

Ageing threatens sustainability of smallholder farming in China

Rapid demographic ageing substantially affects socioeconomic development1-4 and presents considerable challenges for food security and agricultural sustainability5-8, which have so far not been well understood. Here, by using data from more than 15,000 rural households with crops but no livestock across China, we show that rural population ageing reduced farm size by 4% through transferring cropland ownership and land abandonment (approximately 4 million hectares) in 2019, taking the population age structure in 1990 as a benchmark. These changes led to a reduction of agricultural inputs, including chemical fertilizers, manure and machinery, which decreased agricultural output and labour productivity by 5% and 4%, respectively, further lowering farmers' income by 15%. Meanwhile, fertilizer loss increased by 3%, resulting in higher pollutant emissions to the environment. In new farming models, such as cooperative farming, farms tend to be larger and operated by younger farmers, who have a higher average education level, hence improving agricultural management. By encouraging the transition to new farming models, the negative consequences of ageing can be reversed. Agricultural input, farm size and farmer's income would grow by approximately 14%, 20% and 26%, respectively, and fertilizer loss would reduce by 4% in 2100 compared with that in 2020. This suggests that management of rural ageing will contribute to a comprehensive transformation of smallholder farming to sustainable agriculture in China.

Hope-hype of green innovation, corporate governance index, and impact on firm financial performance: a comparative study of Southeast Asian countries

The current production and conception have impacted the environmental hazards. Green innovation (GI) is the ideal solution for sustainable production, consumption, and ecological conservation. The objective of the study is to compare comprehensive green innovation (green product, process, service, and organization) impact on firm financial performance in Malaysia and Indonesia, along with the first study to measure the moderation role of the corporate governance index. This study has addressed the gap by developing the green innovation and corporate governance index. Collected panel data from the top 188 publicly listed firms for 3 years and analyzed it using the general least square method. The empirical evidence demonstrates that the green innovation practice is better in Malaysia, and the outcome also shows that the significance level is higher in Indonesia. This study also provides empirical evidence that board composition has a positive moderation relationship betwixt GI and business performance in Malaysia but is insignificant in Indonesia. This comparative study provides new insights to the policymakers and practitioners of both countries to monitor and manage green innovation practices.

The evolution and determinants of Chinese inter-provincial green development efficiency: an MCSE-DEA-Tobit-based perspective

Continuous and rapid economic development has brought about excessive resource consumption and environmental pollution. Therefore, it is particularly essential to coordinate economic, resource, and environmental factors to achieve sustainable development. This paper develops a new data envelopment analysis (DEA) method that can be used for multi-level complex system evaluation (MCSE-DEA) to reveal the inter-provincial green development efficiency (GDE) in China from 2010 to 2018. Moreover, the Tobit model is applied to explore the influencing factors of GDE. We found that (i) the MCSE-DEA model tends to have lower efficiency scores than the traditional P-DEA (panel data envelopment analysis) model, and the top three provinces are Shanghai, Tianjin, and Fujian; (ii) the efficiency shows an increasing trend during the whole study period. The southeast region and the Middle Yangtze River region have the highest efficiency values, reaching 1.09, while the northwest region ranks last with an average efficiency value of 0.66. Shanghai performs the best, while Ningxia performs the worst, with efficiency values of 1.43 and 0.58, respectively; (iii) the provinces with lower efficiency values mainly come from economically underdeveloped remote regions, which can be attributed to issues of water consumption (WC) and energy consumption (EC). Moreover, there are much room for improvement in solid waste emissions (SW) and soot and industrial dust emissions (SD); (iv) the environmental investment, R&D investment, and economic development level can significantly improve GDE, while industrial structure, urbanization level, and energy consumption have inhibiting effects.

The impact of bank's engagement in shadow banking activities on bank's sustainability: Evidence from Chinese commercial banks

The economic and environmental consequences of bad banking practices have aroused much attention. In China, banks are at the center of shadow banking activities through which they avoid regulation and support environmentally unfriendly businesses such as fossil fuel companies and other high-pollution enterprises. In this paper, we study the impact of bank's engagement in shadow banking activities on its sustainability by using annual panel data of Chinese commercial banks. The result shows that bank's engagement in shadow banking activities has a negative impact on its sustainability and the negative impact of bank's engagement in shadow banking activities is more pronounced for city commercial banks and unlisted banks which are less regulated and lack corporate social responsibility (CSR). Furthermore, we explore the underlying mechanism of our findings and prove that bank's sustainability is impeded because it transforms high-risk loan into shadow banking activities which are less regulated. Finally, by using difference-in-difference (DiD) approach, we find that bank's sustainability improved after the financial regulation on shadow banking activities. Our research provides empirical evidence that the financial regulation on bad banking practices is beneficial for bank's sustainability.

The effect of enterprise financialization on green innovation: evidence from Chinese A-share non-financial listed enterprises

The financialization of entity enterprises brings both benefits and risks for economic development. In the context of green economy transformation, exploring the impact of enterprise financialization on green innovation deserves more focus. This paper takes the A-share non-financial listed companies from 2007 to 2021 as the research sample to examine how corporate financialization affects green innovation. The results reveal that the enterprise financialization is negatively associated with green innovation, which is more significant for the short-term financialization. Further analysis shows that external supervision governance (institutional investors and analysts' attention) can alleviate the hindering effect of corporate financialization on green innovation. The mechanism tests confirm that enterprise financialization prevents enterprise green innovation by increasing enterprise risk-taking level and reducing R&D investment (capital input and labor input). Heterogeneity analysis reports that higher consumer eco-friendly preference and consumption level can ease the hindering effect of corporate financialization on corporate green innovation. This paper can provide inspiration for enterprises to reasonably arrange asset investment and how to stimulate enterprises' enthusiasm for green innovation, thus powering the green development of the real economy.

Impact of dual control system of energy consumption and intensity on cost of debt financing: micro-evidence from Chinese listed companies

Capital providers have placed increasing importance on risks associated with transitioning to a low-carbon economy. This study investigates the causal link between energy regulation and cost of debt financing by exploiting regional variations in stringency of the dual control system of total energy consumption and energy intensity (dual controls) to construct a continuous difference-in-difference model. We use a sample of A-share listed firms in 2010-2020 and find that tighter energy regulation leads to higher cost of debt financing. We find that the underlying mechanism is risk premium brought by compliance cost and uncertainties. Further analysis indicates that the impact of dual controls is mainly driven by non-state-owned firms. Lastly, capital providers did not differentiate the interest rates they charge companies based on their level of green transition.

Assessing progress towards Sustainable Development Goal 3.8.2 and determinants of catastrophic health expenditures in Malaysia

The Sustainable Development Goal 3.8.2 is an indicator to track a country’s progress toward universal health coverage on the financial protection against catastrophic health expenditure (CHE). The purpose of this study is to determine the proportion of households with catastrophic health expenditure, and its associated factors among Malaysian households. A secondary data analysis was performed using the Household Expenditure Survey 2015/2016. The inclusion criterion was Malaysian households with some health spending in the past 12 months before the date of the survey. Catastrophic health expenditure was defined as out-of-pocket health expenditures exceeding 10% of the total household consumption. The study included a total of 13015 households. The proportion of households with CHE in the sample was 2.8%. Female-led households (AdjOR 1.6; CI 1.25, 2.03; p-value <0.001), households in rural areas (AdjOR 1.29; 95% CI 1.04, 1.61; p-value = 0.022), small household size (AdjOR 2.4; 95% CI 1.81, 3.18; p-value <0.001) and heads of household under 60 years old (AdjOR2.34; 95% CI 1.81, 3.18; p-value <0.001) were significantly associated with CHE. Although the proportion of Malaysian households affected by CHE is small, it is increasing in comparison to previous findings. This is concerning because it may jeopardise efforts to achieve universal health coverage by 2030. To ensure financial protection and access to care, a health financing policy that includes safety net measures for households at risk of CHE is required.

Sloping land use affects the complexity of soil moisture and temperature changes in the loess hilly region of China

Various land use types have been implemented by the government in the loess hilly region of China to facilitate sustainable land use. Understanding the variability in soil moisture and temperature under various sloping land use types can aid the ecological restoration and sustainable utilization of sloping land resources. The objective of this study was to use approximate entropy (ApEn) to reveal the variations in soil moisture and temperature under different land use types, because ApEn only requires a short data series to obtain robust estimates, with a strong anti-interference ability. An experiment was conducted with four typical land use scenarios (i.e., soybean sloping field, maize terraced field, jujube orchard, and grassland) over two consecutive plant growing seasons (2014 and 2015), and the time series of soil moisture and temperature within different soil depth layers of each land use type were measured in both seasons. The results showed that the changing amplitude, degree of variation, and active layer of soil moisture in the 0–160 cm soil depth layer, as well as the changing amplitude and degree of variation of soil temperature in the 0–100 cm soil layer increased in the jujube orchard over the two growing seasons. The changing amplitude, degree of variation, and active layer of soil moisture all decreased in the maize terraced field, as did the changing amplitude and degree of variation of soil temperature. The ApEn of the soil moisture series was the lowest in the 0–160 cm soil layer in the maize terraced field, and the ApEn of the soil temperature series was the highest in the 0–100 cm layer in the jujube orchard in the two growing seasons. Finally, the jujube orchard soil moisture and temperature change process were more variable, whereas the changes in the maize terraced field were more stable, with a stable soil moisture and temperature. This work highlights the usefulness of ApEn for revealing soil moisture and temperature changes and to guide the management and development of sloping fields.

Food system resilience thinking: from digital to integral

The current food system is directly influenced by the increase in environmental problems and nutritional inequality globally. Financial and political collapses, health crises, excessive urbanization, and rapid industrialization are some of the principal factors threatening the food supply's security. The food system needs a profound transformation to avoid ecosystem destabilization and a global food crisis. Concerning this transformation, we are certain that the first step for a successful food system change is global resilience thinking. To reach an integrated food system, we proposed introducing the resilient concept linked with other known concepts, such as circular economy and sustainability. A resilient food system can recover over time, ensuring the supply of sustainable and quality food and access to all. This would mean redesigning the value chains in the food system, re-educating consumers to implement a healthier diet, and introducing technology such as digital innovation. Re-evaluating these relevant points, redesigning the focus of the food system, not only for economic efficiency but also including significant trade-offs, or valuing other services in the food system, are essential to reaching the desired resilience. © 2021 Society of Chemical Industry.

A post-covid economy for health: from the great reset to build back differently

A return to a business as usual economy would be a fatal mistake argues Ronald Labonté

An estimation and development model of tourism resource values at the township scale on Hainan Island, China

The scientific evaluation of tourism resources provides the basic conditions for the rational development and utilization of tourism resources, which is significant for the sustainable development of tourism. On the basis of obtaining a large sample of tourism resource data, this study constructed an evaluation index system of regional tourism resources from four aspects: quantity, type, grade, and a combination of regional tourism resources, taking the township scale as the spatial evaluation unit. The combination weighting method was used to evaluate the grade of tourism resources in each township, and the hierarchical clustering method and spatial autocorrelation method were used to analyze the spatial patterns of the tourism resource values. On the basis of the evaluation’s results and spatial pattern analysis, this paper analyzed the influencing factors of tourism resource patterns and puts forward a tourism development model suitable for Hainan tourism development. The results showed that the overall value of tourism resources on Hainan Island was low, and the spatial pattern was obviously different, showing that the northern piedmont plain area was higher than the southern hilly area, and the east coast area was higher than the west coast area. Based on the analysis of quantity density, type abundance, grade advantage, and spatial combination, the tourism resource values of Hainan Island was divided into four combination areas: the first area was diversity and good combination, the second area was large quantity and good combination, the third area was diversity and high-quality resources, and the fourth area was large quantity. In addition, from the analysis of the spatial agglomeration effect, the phenomena of high and low agglomerations of tourism resource values were obvious. Finally, this paper puts forward a tourism development model for Hainan Island by grading, classification, and zoning. The results of this study can determine the time sequence and mode of regional tourism resources development and provide spatial implications and suggestions for regional tourism planning and management.

Financial inclusion and monetary policy effectiveness: A sustainable development approach of developed and under-developed countries

The study explores the causal relationship between monetary policy effectiveness and financial inclusion in developed and under-developed countries. Structural Vector Auto-regressive techniques have been inducted to explore the relationship between monetary policy effectiveness and financial inclusion. The study covers the secondary data of 10 developed and 30 underdeveloped countries throughout 2004–2018. It is concluded that monetary policy effectiveness and financial inclusion do not have a contemporaneous impact on each other. Nevertheless, the reduced-form Vector Auto-regressive witness the reverse causality between financial inclusion and monetary policy effectiveness in developed countries. Thus, effective monetary policy enhances financial inclusion in a country, and a higher degree of financial inclusion lowers the inflation rate and makes monetary policy effective. One way causality from monetary policy effectiveness to financial inclusion can be observed in under-developed countries. Using the Structural Vector auto-regressive technique and financial inclusion index composed of three-dimension to examine the relationship of monetary policy effectiveness and financial inclusion in developed and developing countries is considered the study’s significant contribution.

Provincial division of economic zones based on the improved urban gravity model: A case study of Hunan Province, China

Regional collaboration and the division of economic zones have been widely discussed for sustainable development. This paper aims at building a framework for analyzing the provincial division of economic zone (DEZ) via considering spatial interaction among regions based on the improved gravity model and clustering approaches. The proposed framework of province DEZ is applied in the case study of Hunan Province, China. The results reveal that Chenzhou city in the south of Hunan Province is always excluded from the DEZ due to its larger external gravity from other cities in neighboring provinces. It also shows that the city components of economic zones (EZs) have experienced a fluctuation at a higher degree from 2002 to 2006 to 2009 while it reached to a stable phase in 2013. Furthermore, cross-provincial regional integration and the highway construction have a significant impact on the change of city components of EZ. The findings are of great potential in regional planning that should be incorporated to the toolkit of regional policy and sustainable development for local governments.

Natural language processing and network analysis provide novel insights on policy and scientific discourse around Sustainable Development Goals

The United Nations' (UN) Sustainable Development Goals (SDGs) are heterogeneous and interdependent, comprising 169 targets and 231 indicators of sustainable development in such diverse areas as health, the environment, and human rights. Existing efforts to map relationships among SDGs are either theoretical investigations of sustainability concepts, or empirical analyses of development indicators and policy simulations. We present an alternative approach, which describes and quantifies the complex network of SDG interdependencies by applying computational methods to policy and scientific documents. Methods of Natural Language Processing are used to measure overlaps in international policy discourse around SDGs, as represented by the corpus of all existing UN progress reports about each goal (N = 85 reports). We then examine if SDG interdependencies emerging from UN discourse are reflected in patterns of integration and collaboration in SDG-related science, by analyzing data on all scientific articles addressing relevant SDGs in the past two decades (N = 779,901 articles). Results identify a strong discursive divide between environmental goals and all other SDGs, and unexpected interdependencies between SDGs in different areas. While UN discourse partially aligns with integration patterns in SDG-related science, important differences are also observed between priorities emerging in UN and global scientific discourse. We discuss implications and insights for scientific research and policy on sustainable development after COVID-19.

An approach to increase the power output of Karnafuli Hydroelectric Power Station: A step to sustainable development in Bangladesh's energy sector

Renewable energy has become the most prominent source of energy to reduce carbon emissions around the globe. Undoubtedly, hydro energy is very much clean energy among other sources. In Bangladesh, hydro energy is available only in a specific southern area contributing several hundred megawatts to the national grid. This paper devotes to assessing the capacity and practicability of a hydropower plant to boost the power output by implementing the combined cycle hydropower system. The proposed method has been developed by 1) studying the existing plant based on surveyed data, 2) selecting the site for installing the hydrokinetic turbine, 3) designing with consideration of numerous constraints of inter dependability, and 4) creating a prototype model to ensure the practicability. Preliminary results show that a significant amount of additional electric energy can be generated from the plant with higher efficiency.

Impact of the collaboration mechanism of PPP projects based on consumer participation: A system dynamics model of tripartite evolutionary game

Developing countries need a large number of social infrastructure projects (e.g. schools, medical care, nursing homes). But the government’s finance to invest in these projects is limited. By using the public–private partnership (PPP) mode to attract social capital to invest in PPP projects, it can relieve the financial pressure and improve the operation efficiency. The cooperation between government and consumer can ensure the sustainable development of the project operation. A system dynamics model of tripartite evolutionary game is developed to analyze the interaction of participant’s strategies and simulate the corresponding evolution process. We employ the scenario analysis method to investigate the impact of the key parameters in relation with PPP projects based on realistic scenario assumptions. The results reveal the effect of some policies including reverse effect, blocking effect and over-reliance effect. Specifically, the results show that high penalty can prevent social capital from providing low-quality services, the low cost of government regulation can promote social capital to provide high-quality services, compensation to consumer can increase the enthusiasm of consumer participating in supervision, appropriate difference between price and cost of high-quality service as social capital’s profit can encourage social capital to provide high-quality service. These policy suggestions will contribute to the sustainable development of social infrastructures in PPP mode.

Financial disclosure quality and sustainability disclosure quality. A case in China

This paper empirically examines whether there is an association between financial reporting disclosure quality and sustainability disclosure quality of the top 100 socially reputed Chinese listed firms. The paper computed financial disclosure quality by empirically combining earning qualities of accrual, persistence, predictability, and smoothness. Using content analysis and survey questionnaire research methods, it calculated sustainability quality by combining disclosure quantity (through quantitative weightings), disclosure type (through qualitative weightings), and disclosure item importance (through qualitative weightings) of economic, social, and environmental disclosures made in annual and sustainability reports, ascertained using the Global Reporting Initiative sustainability framework. The study finds that sustainability disclosure in the current period is sufficiently associated with financial disclosure quality of the current period and future period. Consistent with stakeholder theory, firms with a social reputation are perceived as trustworthy by stakeholders and shareholders. The findings lead to a cultural stakeholder theory where underlying values of societal culture create a condition supporting mutual stakeholder relationships between firm and various stakeholders. Demonstrating trustworthiness through disclosures can help boost consumer confidence and foreign trade relations for Chinese firms. The Chinese government can design innovative schemes to reward and promote trustworthiness in firms, such as regulating base-point reductions in interest rates on borrowing or raising funds.

Overcoming constraints of scaling: Critical and empirical perspectives on agricultural innovation scaling

Scaling is a ubiquitous concept in agricultural research in the global south as donors require their research grantees to prove that their results can be scaled to impact upon the livelihoods of a large number of beneficiaries. Recent studies on scaling have brought critical perspectives to the rather technocratic tendencies in the agricultural innovations scaling literature. Drawing on theoretical debates on spatial strategies and practical experience of agricultural innovation scaling in Ethiopia, this paper adds to the current debate on what constitutes scaling and how to overcome critical scaling constraints. The data for the paper came from a qualitative assessment using focus group discussions, key informant interviews, and document analysis on scaling work done in Ethiopia by a USAID-funded research for development project. The paper concludes with four broad lessons for the current understating of agricultural innovation scaling. First, scaling of agricultural innovations requires a balanced focus on technical requirements and associated social dynamics surrounding scaling targets, actors involved and their social relations. Second, appreciating the social dynamics of scaling emphasizes the fact that scaling is more complex than a linear rolling out of innovations towards diffusion. Third, scaling may not be strictly planned; instead, it might be an extension of the innovation generation process that relies heavily on both new and long-term relationships with key partners, trust, and continuous reflection and learning. Fourth, the overall implication of the above three conclusions is that scaling strategies need to be flexible, stepwise, and reflective. Despite the promises of flourishing scaling frameworks, scaling strategies it would appear from the Africa RISING experience that, if real impact is to be achieved, approaches will be required to be flexible enough to manage the social, processual and emergent nature of the practice of scaling.

Sustainability assessment and improvement strategies research for typical arid and resource-developing regions

Located in the Eurasian continent’s hinterland, Xinjiang is a typical arid and resource-developing region in China’s northwest. Problems such as excessive resource consumption, environmental pollution, and ecological imbalance are becoming severe, which have become the bottleneck that further restricts Xinjiang’s sustainable development. Due to its outstanding quantitative advantages, ecological efficiency has become a significant indicator and analytical tool for measuring the green economy and sustainable development. In this study, we analyzed ecological efficiency variation for Xinjiang’s 14 prefectures between 2001 and 2015 using a super-efficient data envelopment model (DEA), Malmquist Index, and Tobit model. These analyses indicated that: (1) The overall ecological efficiency level of Xinjiang is low, and development among regions is unbalanced, out of sync, lacks sustainability. (2) From 2001 to 2015, Xinjiang’s ecological efficiency showed a W-shaped rising trend and finally increased by 5.7%. It is due to the substantial improvement in environmental efficiency. (3) By analyzing the environmental efficiency and resource efficiency, 14 prefectures in Xinjiang consist of four development modes: low energy consumption and low emission, high energy consumption and low emission, low energy consumption and high emission, and high energy consumption and high emission. (4) Water resources are restricting factors of arid regions. In most prefectures, there exist excessive water resource investment, excessive COD, and NH₃-N emissions. (5) By analyzing the Malmquist index, it shows that the technical progress index(TC) restricted ecological efficiency. In contrast, the technical efficiency index (EC) promoted ecological efficiency.(6)The ecological efficiency was positively correlated with the utilization of foreign capital, urbanization rate, and average education degree but negatively correlated with the marketization degree. The study has guidance and reference function for the sustainable development of Xinjiang—a vital corridor of the Silk Road Economic Belt, and also provides a reference to the research work of other arid resource-based regions.

Does the New Rural Pension Scheme improve residents' livelihoods? Empirical evidence from Northwestern China

The sustainable development of pension systems has been investigated from a financial perspective worldwide. However, the pension adequacy and its effect on the sustainability of a national pension system are still understudied. Using actual replacement rate and modified living standards replacement rate, this study empirically evaluates whether China’s New Rural Pension Scheme (NRPS) grants enough livelihood protection for the rural residents in the Northwestern China. The results show that the NRPS fails to meet the basic needs of the elderly people (i.e., age of sixty years or older) or the middle-aged people (forty-five to fifty-nine years old), while it only provides limited protection for the young people (sixteen to forty-four years old). These findings suggest that the current NRPS benefits are very low in the Northwestern China and policy reforms should be further implemented to improve the sustainable development of the New Rural Pension Scheme.