In the face of mounting climate change challenges, reducing emissions has emerged as a key driver of environmental sustainability and sustainable growth. Despite the fact that research has been conducted on the environmental Kuznets curve (EKC), few researchers have analyzed this in the light of economic complexity. Thus, the current research assesses the effect of economic complexity on CO2 emissions in the MINT nations while taking into account the role of financial development, economic growth, and energy consumption for the period between 1990 and 2018. Using the novel method of moments quantile regression (MMQR) with fixed effects, an inverted U-shape interrelationship is found between economic growth and CO2 emissions, thus validating the EKC hypothesis. Energy consumption and economic complexity increase CO2 emissions significantly from the 1st to 9th quantiles. Furthermore, there is no significant interconnection between financial development and CO2 emissions across all quantiles (1st to 9th). The outcomes of the causality test reveal a feedback causal connection between economic growth and CO2, while a unidirectional causality is established from economic complexity and energy use to CO2 emissions in the MINT nations. Based on the findings, we believe that governments should stimulate the financial sector to provide domestic credit facilities to industrialists, investors, and other business enterprises on more favorable terms so that innovative technologies for environmental protection can be implemented with other policy recommendations.
Without enhancing the quality of the environment, the goals of sustainable development remain unachievable. In order to minimize the damage to the planet, sustainable practices need to be considered. This study is conducted to identify some of the drivers behind the increasing sustainability issues and tried to investigate the impact of natural resources, financial development, and economic growth on the ecological footprint in Malaysia from the year 1980-2019 by utilizing the dynamic simulated autoregressive distribution lag approach. It was identified that financial development, economic growth, and natural resources are the determinants behind the upsurge of the ecological footprint as all three show a positive and significant effect on ecological footprint. However, in the long run, the presence of the Environmental Kuznets Curve hypothesis was also validated in Malaysia. Therefore, it is recommended to increase awareness among the public regarding the adoption of sustainable practices in everyday life and to use green technologies that offer maximum efficiency and minimum damage to the environment in commercial and domestic activities. Finally, based on the research results, a comprehensive policy framework was proposed which could allow the Malaysian economy to attain the objectives of Sustainable Development Goals (SDGs) 7, 8, and 13.
To boost the stability of economic and financial aspects along with the apprehensions for sustainability, it is important to promote the development of clean energy stocks around the globe. In the current research, the researchers have examined the impact of oil prices, coal prices, natural gas prices, and gold prices on clean energy stock using the autoregressive distribution lag (ARDL) approach from the year 2011 to the year 2020. The result of daily data analysis specifies that in the long as well as in the short run, gold prices, oil prices, and coal prices have a positive and significant effect on clean energy stock. On the other side, natural gas prices in the long as well as in the short run have a negative and significant effect on clean energy stock. So, the empirical analysis of our study is of interest to investors at an institutional level who aim at detecting the risk associated with the clean energy market through proper financial modeling. Besides, this study opens up a new domain to sustain financial as well as economic prospects by protecting the environment through clean energy stock as the investment in clean energy stocks results in producing a substantial effect on the economy and the environment as well.
In terms of achieving sustainable development goals (SDGs), the developing economies are facing many issues, and one of the key issues is environmental degradation. Being a developing economy, Pakistan is also experiencing thought-provoking impacts of global warming and still far away from the ideal track of sustainable development. For addressing environment-related issue and achieving the targets of SDGs, a policy-level reorientation might be necessary. In this view, this study investigates the impact of economic growth, transport infrastructure, urbanization, financial development, and renewable energy consumption on CO2 emissions by using the data of Pakistan during 1990-2020. For this purpose, we use novel wavelet quantile correlation approach. The empirical results of wavelet quantile correlation approach demonstrate that economic growth, transport infrastructure, urbanization, and financial development are responsible for environmental pollution. Whereas, result also claims that renewable energy consumption is a useful tool for reducing environmental pollution in Pakistan. Moreover, the results of FMOLS approach show that 1% increase in economic growth, transportation infrastructure, urbanization, and financial development increases CO2 emissions by 0.240, 0.010, 0.478, and 0.102%, respectively. However, 1% increase in renewable energy usage reduces CO2 emission by 1.083%. Based on the empirical outcomes, this study proposes comprehensive policy framework for achieving the targets of SDG 7 (clean energy), SDG 8 (economic growth), SDG 11 (sustainable cities and communities), and SDG 13 (climate action).
The rapid rise in climate and ecological challenges have allowed policymakers to introduce stringent environmental policies. In addition, financial limitations may pose challenges for countries looking to green energy investments as energy transition is associated with geopolitical risks that could create uncertainty and dissuade green energy investments. The current study uses PTR and PSTR as econometric strategy to investigate how geopolitical risks and financial development indicators influence energy transition in selected industrial economies. Our findings indicate a non-linear DCPB-RE relationship with a threshold equal to 39.361 in PTR model and 35.605 and 122.35 in PSTR model. Additionally, when the threshold was estimated above, financial development indicators and geopolitical risk positively impacts renewable energy. This confirms that these economies operate within a geopolitical context, with the objective of investing more in clean energy. We report novel policy suggestion to encourage policymakers promoting energy transition and advance the sustainable financing development and ecological sustainability.
In the United Arab Emirates (UAE), health services have developed greatly in the past 40 years. To ensure they continue to meet the needs of the population, innovation and change are required including investment in a strong e-Health infrastructure with a single transferrable electronic patient record. In this paper, using the Emirate of Dubai as a case study, we report on the Middle East Electronic Medical Record Adoption Model (EMRAM). Between 2011-2016, the number of participating hospitals has increased from 23 to 33. Currently, while 20/33 of hospitals are at Stage 2 or less, 10/33 have reached Stage 5. Also Dubai's median EMRAM score in 2016 (2.5) was higher than the scores reported from Australia (2.2), New Zealand (2.3), Malaysia (0.06), the Philippines (0.06) and Thailand (0.5). EMRAM has allowed the tracking of the progress being made by healthcare facilities in Dubai towards upgrading their information technology infrastructure and the introduction of electronic medical records.
Forests are a substantial terrestrial carbon sink, but anthropogenic changes in land use and climate have considerably reduced the scale of this system1. Remote-sensing estimates to quantify carbon losses from global forests2-5 are characterized by considerable uncertainty and we lack a comprehensive ground-sourced evaluation to benchmark these estimates. Here we combine several ground-sourced6 and satellite-derived approaches2,7,8 to evaluate the scale of the global forest carbon potential outside agricultural and urban lands. Despite regional variation, the predictions demonstrated remarkable consistency at a global scale, with only a 12% difference between the ground-sourced and satellite-derived estimates. At present, global forest carbon storage is markedly under the natural potential, with a total deficit of 226 Gt (model range = 151-363 Gt) in areas with low human footprint. Most (61%, 139 Gt C) of this potential is in areas with existing forests, in which ecosystem protection can allow forests to recover to maturity. The remaining 39% (87 Gt C) of potential lies in regions in which forests have been removed or fragmented. Although forests cannot be a substitute for emissions reductions, our results support the idea2,3,9 that the conservation, restoration and sustainable management of diverse forests offer valuable contributions to meeting global climate and biodiversity targets.
This study aims to investigate the relationship between renewable energy and ecological footprint during the period of 1994-2018 from selected developing countries in Europe (Czechia, Croatia, Poland, Romania, Romania, and Turkey). In this context, the ecological footprint (EF), which has recently been the most widely used environmental indicator in the literature and is known as the most comprehensive because it includes many environmental factors, has been determined as the dependent variable. As independent variables, renewable energy consumption (REC), energy-related tax revenue (ETR), and energy productivity (EP) are included in the model. GDP and development of environment-related technologies (DET), which affect the ecological footprint in the model, are determined as control variables. As a result of the panel data analysis, according to the Durbin-Hausman cointegration test result, a long-term relationship between the variables was determined. According to the CCE estimator analysis, it can be said that there is a positive relationship between ETR and GDP variables and EF. For the AMG estimator analysis, it can be said that there is a positive relationship between GDP and EP variables and EF. Finally, according to the results of the Konya Causality test, a unidirectional causality relationship is detected from environmental technologies to the ecological footprint in Turkey, and a unidirectional causality relationship from the ecological footprint to GDP in Czechia, Romania, and Turkey. Furthermore, no causality relationship is detected between other variables. Based on the results, several policy implications are suggested.
Considering the importance of green economic growth and environmental sustainability in the discussion, it is crucial to understand its critical contributing factors and to draw results implications for the green policy. This research used the data of the South Asian Association for Regional Cooperation (SAARC) member countries for a period from 2005 to 2017. It adopted the panel autoregressive distributed lag technique to examine the hypotheses. The findings revealed that environmental sustainability is strongly and positively associated with national scale-level green practices, including renewable energy, regulatory pressure, and eco-friendly policies, and sustainable use of natural resources. Conversely, in our model, the "regulatory pressure" has an insignificant effect on economic growth. A necessary contribution of the present study is that a positive effect of green practices on national scale economic and environmental variables, particularly in the scenario of SAARC member states, can be noticed. At the end of the present study, we have provided policy implications for regulatory authorities and discussed potential areas for future research.
Consistent with the worldwide call to combat environmental degradation concerns and advance sustainable development, there is increasing pressure on organizations to ensure organizational strategies include green initiatives. In this regard, environmental strategic focus is a relevant concept for scholars and business leaders. Underpinned by dynamic capability and stakeholder theory, the present study hypothesizes that ESF derives environmental performance, coordinated by mediating role of green shared vision that strategic environmental planning and decision making. Additionally, the current study employed ISO 14001 and technological capability as moderators between ESF and the green shared vision link. Methodologically, the data for this study was collected from 162 senior managerial officials working in EMS 14,001-accredited manufacturing firms in Malaysia. The data were analyzed with the AMOS 23 software to perform covariance-based structural equation modeling (CB-SEM), and then hierarchical regression analysis and moderated-mediation analysis were applied with SPSS 25. The findings confirmed that ESF is positively linked to environmental performance. The results validate that green shared vision acts as a positive mediator between ESF and environmental performance, in which the creation and sharing of knowledge embedded in a green shared vision serve as enablers to create higher environmental performance. The current study also validates a significant moderating role of ISO 14001 and technological capability between ESF and green shared vision. The study confirms how environmental strategies are integrated into environmental management processes that can serve as a source of dynamic capabilities.
It is well documented that carbon emissions can be reduced by replacing conventional energy resources with renewable energy resources; thereby, the role of green technology is essential as it protect natural environment. Given that, the United Nations' agenda of "green is clean" may be achievable by adoption of green technologies. The objective of the study is to examine the link between information and communication technology (ICT), economic growth, energy consumption, and carbon dioxide (CO2) emissions in the context of South Korean economy, by using a novel Morlet wavelet approach. The study applies continuous wavelet power spectrum, the wavelet coherency, and the partial and the multiple wavelet coherency to the year during 1973-2016. The outcomes reveal that the connections among the stated variables progress over frequency and time domain. From the frequency domain point of view, the current study discovers noteworthy wavelet coherence and robust lead and lag linkages. From the time-domain sight, the results display robust but not consistent associations among the considered variables. From an economic point sight, the wavelet method displays that ICT helps to reduce environmental degradation in a medium and long run in the South Korean economy. This emphasizes the significance of having organized strategies by the policymakers to cope up with 2 to 3 years of the occurrence of the huge environmental degradation in South Korea.
This study draws the link between COVID-19 and air pollution (ground ozone O3) from February 29, 2020 to July 10, 2020 in the top 10 affected States of the US. Utilizing quantile-on-quantile (QQ) estimation technique, we examine in what manner the quantiles of COVID-19 affect the quantiles of air pollution and vice versa. The primary findings confirm overall dependence between COVID-19 and air pollution. Empirical results exhibit a strong negative effect of COVID-19 on air pollution in New York, Texas, Illinois, Massachusetts, and Pennsylvania; especially at medium to higher quantiles, while New Jersey, Illinois, Arizona, and Georgia show strong negative effect mainly at lower quantiles. Contrarily, COVID-19 positively affects air pollution in Pennsylvania at extreme lower quantiles. On the other side, air pollution predominantly caused to increase in the intensity of COVID-19 cases across all states except lower quantiles of Massachusetts, and extreme higher quantiles of Arizona and New Jersey, where this effect becomes less pronounced or negative. Concludingly, a rare positive fallout of COVID-19 is reducing environmental pressure, while higher environmental pollution causes to increase the vulnerability of COVID-19 cases. These findings imply that air pollution is at the heart of chronic diseases, therefore the state government should consider these asymmetric channels and introduce appropriate policy measures to reset and control atmospheric emissions.
This study is a scholarly effort to broaden the existing literature on the impact of transportation services, urbanization, and financial development on ecological footprints in Pakistan. Data used in this study covers the period of 39 years from 1980 to 2018. This study adopted the QARDL model to tackle the non-linear association of variables and test their long-run stability across the different quantiles. The findings of this study indicated a significant negative association of transportation services and financial development with ecological footprints in Pakistan at almost all quantiles whereas, the urban population was found to be positively associated with the ecological footprint in Pakistan. Results also justify the existence of the EKC hypothesis in the scenario of Pakistan. Policymakers are advised to frame strategies for investors to invest more in eco-friendly projects to curtail the ecological footprints in Pakistan. Minimizing the dependency of the transportation sector on fossil fuel, and increased use of energy-efficient appliances in the urban population would be beneficial to control the negative influence on ecological footprints in Pakistan.
This novel research is an argumentative subject which was needed to be addressed and to fill this gap, the author examined the effect of financial development, information and communication technology, and institutional quality on CO2 emission in Pakistan by using quantile autoregressive distributed lag (QARDL) model. The data were obtained for the period from 1995Q1 to 2018Q4. In the long run, GDP and institutional quality have a positive impact on CO2 emission when this emission is already high, which shows that if the GDP and institutional quality increases, the CO2 emission also increases. Moreover, financial development and ICT has a negative impact on CO2 emission irrespective of emission level that whether it is high or low in the country, which shows that if financial enhancement and ICT increases, carbon emission decreases. The study also supported the EKC hypothesis in Pakistan.
BRICS are among the rising nations which drive economic growth by excessive utilization of resources and resulting in environment degradation. Although there is bulk of research on environmental Kuznets curve (EKC), very limited studies explored the scope in context of tourism in BRICS countries. So this research is conducted to explore the association of tourism, renewable energy, and economic growth with carbon emissions by using annual data of BRICS countries from the year 1995 to 2018. By using the recent approach of method of moments quantile regression (MMQR), the finding shows that tourism has stronger significant negative effects from 10th to 40th quantile while the effects are insignificant at remaining quantiles. Furthermore, an inverted U-shape EKC curve is also apparent at all quantiles excluding 10th and 20th quantiles. For renewable energy, the results are found negatively significant across all quantiles (10th-90th) which claim that CO2 emission can be reduced by opting renewable sources. Hence, the empirical results of the current study provide insights for policymakers to consume renewable energy sources for the sustainable economic growth and solution of environmental problems.
With the growing interest among researchers in analyzing the ecological footprint of any country, this study focuses on new dimensions to analyze the long-run and short-run asymmetric impact of tourism, financial development, and globalization on ecological footprint in Turkey by using Quantile Autoregressive Distributed Lag model for the period from 1986 to 2018. Further, the EKC hypothesis was also tested. The results show that tourism, globalization, and financial development are positively and significantly associated with the EFP. This means that the increase in these variables will further increase the ecological footprint in Turkey. The U-shaped EKC curve was found to be valid in Turkey. The results also depict nonlinear and asymmetric association among most of the variables. Hence, based on the results, further research directions and practical implications can be suggested.
We employ the new Method of Moments Quantile Regression approach to expose the role of natural resources, renewable energy, and globalization in testing Environment Kuznets Curve (EKC) in MINT panel covering the years 1995-2018. The outcome validates the EKC curve between economic progress and carbon emissions from the third quantile to the extreme highest quantile. The result also shows that natural resources increase CO2 emissions at the lowest quantile and then turn insignificant from the middle to the highest quantiles due to the potential utilization of resources in a sustainable manner. The renewable energy mitigates CO2 emissions at the lower half quantiles. Still, for upper quantiles, the results are unexpected and imply that the countries' total energy mix depends heavily on fossil fuels. As far as globalization is concerned, the significant results from medium to upper quantiles reveal that as globalization heightens due to foreign direct investment or trade, energy consumption also expands, leading to the worst environment quality. Thus, the present study's consequences deliver guidelines for policymakers to utilize natural resources sustainably and opt technologies based on clean energy, which may offset environmental degeneration.
Fitusiran, a subcutaneous (SC) investigational siRNA therapeutic, targets antithrombin to rebalance hemostasis in people with hemophilia A or B (PwHA/B), irrespective of inhibitor status. This Phase 3, open-label study (NCT03549871) evaluated the efficacy and safety of fitusiran prophylaxis in males aged ≥ 12 years with hemophilia A or B, with or without inhibitors, who received prior bypassing agent (BPA)/clotting factor concentrate (CFC) prophylaxis. Participants continued their prior BPA/CFC prophylaxis for 6 months before switching to once-monthly 80 mg fitusiran prophylaxis for 7 months (onset and efficacy periods). Primary endpoint was annualized bleeding rate (ABR) in the BPA/CFC prophylaxis and fitusiran efficacy period. Secondary endpoints included spontaneous ABR (AsBR) and joint ABR (AjBR). Safety and tolerability were assessed. Of 80 enrolled participants, 65 (inhibitor/non-inhibitor, n = 19/46) were eligible for ABR analyses. Observed median (IQR) ABRs were 6.5 (2.2, 19.6)/4.4 (2.2, 8.7) with BPA/CFC prophylaxis versus 0.0 (0.0, 0.0)/0.0 (0.0, 2.7) in the corresponding fitusiran efficacy period. Estimated mean ABRs were substantially reduced with fitusiran by 79.7% (P = 0.0021) and 46.4% (P = 0.0598) versus BPA/CFC prophylaxis, respectively. Forty-one participants (63.1%) experienced zero treated bleeds with fitusiran versus 11 (16.9%) with BPAs/CFCs. Median AsBR and AjBR were both 2.2 with BPA/CFC prophylaxis and 0.0 in the fitusiran efficacy period. Two participants (3.0%) experienced suspected or confirmed thromboembolic events with fitusiran. Once-monthly fitusiran prophylaxis significantly reduced bleeding events versus BPA/CFC prophylaxis in PwHA/B, with or without inhibitors and reported adverse events were generally consistent with previously identified risks of fitusiran.
This paper uses the quantile autoregressive distributed lag (QARDL) model to analyze the impact of economic growth, tourism, transportation, and globalization on carbon dioxide (CO2) emissions in the Malaysian economy. The QARDL model is employed utilizing quarterly data from 1995Q1 to 2018Q4. The results demonstrate that economic growth is significantly positive with CO2 emissions at lower to upper quantiles. Interestingly, tourism has a negative effect on CO2 emissions at higher quantiles. Moreover, globalization and transportation services are positive, with CO2 emissions at upper-middle to higher quantiles. Furthermore, we tested the environmental Kuznets curve, and the outcomes confirm the presence of the inverted U-shaped curve in the Malaysian economy. The results of this study suggest that ecotourism is beneficial for economic growth in underdeveloped areas; it increases employment opportunities and, thus, achieves a win-win situation for protection and development. The government should encourage the low-carbon development of ecotourism and achieve green development of both tourism and the economy.