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.
The ocean economy and marine tourism policies are global economic concerns being looked at from a deeply holistic viewpoint. For South Asian countries, the ocean economy and marine tourism have successive socio-economic importance. The quantification of the ocean economy and marine tourism also poses some major challenges, and these challenges pose limitations for policymaking by the government and other relevant agencies. The study has used the newly developed hidden panel cointegration test, and the nonlinear panel autoregressive distributed lag (NPARDL) model for a relationship between economic growth and tourism is assessed. This study offers consistent and reliable results of cointegration by incorporating the findings of four approaches to cointegration. The empirical results illustrate the asymmetric relationship between ocean and marine tourism and economic growth. The findings showed that 1% increase in long-term tourism economic growth is adjusted by 2.95% annually. This research paper aims to provide a policy related to South Asia's economic activities and ocean and marine tourism economic significance. Protecting local marine protected areas (MPAs) will improve the economic benefits of the ocean and the marine economy. The policy suggests that there should be a law ensuring that marine tourism is of high quality and environment friendly. This paper provides a guideline for further research with a strong emphasis on ocean- and marine-related economic development and tourism.
The purpose of this paper is to investigate the links between renewable energy (RE), non-renewable energy (NRE), capital, labour and economic growth, using the nonlinear autoregressive distributive lag (NARDL) model in Malaysia for the period of 1980-2018. The results of NARDL confirm the asymmetric effect of RE and NRE consumption on the economic growth in the long run as well as the short run in Malaysia. The findings also show that in the long and short run, positive shocks of NRE are greater than the positive shocks of RE. It indicates that Malaysia's economic growth is highly dependent on NRE which is not a good indication as NRE consumption increases carbon dioxide (CO2) emission in the country. Moreover, the empirical results of this study demonstrated that RE consumption reduction accelerates economic growth, whereas NRE consumption reduction decreases economic growth. It can have claimed that in Malaysia, RE is still more expensive than NRE. In conclusion, this study offered a variety of measures to develop RE to reduce the dependency on NRE consumption.
This study examines the impact of energy consumption, urbanization, and globalization on environmental degradation proxied by carbon emissions (CO2) in the South Asian Association for Regional Cooperation (SAARC) countries, namely Sri Lanka, Pakistan, Maldives, Nepal, Bhutan, Bangladesh, and India using data over the period 1990-2018. The cross-sectional autoregressive distributed lag (CS-ARDL), pooled mean group (PMG), and Dumitrescu and Hurlin (D-H) Granger causality techniques are employed for the empirical analysis. First and second-generation panel unit root tests are used to determine the stationary level of all data series which reveals mixed order of integration. The empirical findings show that urbanization, gross domestic product (GDP) per capita income, energy consumption, industrial growth, globalization, and financial development cause CO2 emissions, while the other variables, namely arable land and innovation, put negative effects on CO2 emissions. Moreover, the D-H heterogeneous test results exhibit that bi-directional relationship exists between CO2 and arable land, urbanization, industrial growth, and financial development, while a unidirectional causality exists between CO2 emissions and GDP per head income. These findings suggest that planned urbanization, investment in renewable energy sources, and effective strategies regarding the economic and financial integration with the global economies are required for a clean and green environment.
Human emissions of carbon dioxide are causing irreversible changes in our oceans and impacting marine phytoplankton, including a group of small green algae known as picochlorophytes. Picochlorophytes grown in natural phytoplankton communities under future predicted levels of carbon dioxide have been demonstrated to thrive, along with redistribution of the cellular metabolome that enhances growth rate and photosynthesis. Here, using next-generation sequencing technology, we measured levels of transcripts in a picochlorophyte Chlorella, isolated from the sub-Antarctic and acclimated under high and current ambient CO2 levels, to better understand the molecular mechanisms involved with its ability to acclimate to elevated CO2. Compared to other phytoplankton taxa that induce broad transcriptomic responses involving multiple parts of their cellular metabolism, the changes observed in Chlorella focused on activating gene regulation involved in different sets of pathways such as light harvesting complex binding proteins, amino acid synthesis and RNA modification, while carbon metabolism was largely unaffected. Triggering a specific set of genes could be a unique strategy of small green phytoplankton under high CO2 in polar oceans.
Agricultural production is sensitive to climate variability, so climate change-agriculture sector nexus is topical in developing countries. To this end, this study examines the impact of climate change variables-rainfall and temperature-and non-climatic factors on maize production in Somalia for the period between 1980 and 2018 using the autoregressive distributed lag (ARDL) bound test, dynamic ordinary least square (DOLS), variance decomposition(VD), and impulse response function (IRF). The empirical results of the ARDL bound test confirmed the presence of long-run cointegration between the dependent variable and the explanatory variables. Furthermore, the long-run results revealed that average temperature, average rainfall, and political instability significantly inhibit maize production in the long and short runs, but rainfall has a favorable effect on maize production in the short run. Furthermore, rural population and land area under maize cultivation have negative and positive effects on maize production in the long run, respectively-albeit they are statistically insignificant. The empirical results of the study are robust to different econometric methods. Based on these findings, the study emphasizes the importance of the de-escalation of conflicts and the implementation of irrigation facilities which will enhance the productivity of maize crop production.
While existing moratoria in Indonesia and Malaysia should preclude continued large-scale expansion of palm oil production into new areas of South-East Asian tropical peatland, existing plantations in the region remain a globally significant source of atmospheric carbon due to drainage driven decomposition of peatland soils. Previous studies have made clear the direct link between drainage depth and peat carbon decomposition and significant reductions in the emission rate of CO2 can be made by raising water tables nearer to the soil surface. However, the impact of such changes on palm fruit yield is not well understood and will be a critical consideration for plantation managers. Here we take advantage of very high frequency, long-term monitoring of canopy-scale carbon exchange at a mature oil palm plantation in Malaysian Borneo to investigate the relationship between drainage level and photosynthetic uptake and consider the confounding effects of light quality and atmospheric vapour pressure deficit. Canopy modelling from our dataset demonstrated that palms were exerting significantly greater stomatal control at deeper water table depths (WTD) and the optimum WTD for photosynthesis was found to be between 0.3 and 0.4 m below the soil surface. Raising WTD to this level, from the industry typical drainage level of 0.6 m, could increase photosynthetic uptake by 3.6 % and reduce soil surface emission of CO2 by 11 %. Our study site further showed that despite being poorly drained compared to other planting blocks at the same plantation, monthly fruit bunch yield was, on average, 14 % greater. While these results are encouraging, and at least suggest that raising WTD closer to the soil surface to reduce emissions is unlikely to produce significant yield penalties, our results are limited to a single study site and more work is urgently needed to confirm these results at other plantations.
There are many advantages of geothermal energy, as an environmental friend resource. This heat radiation emanating from beneath the earth's surface presents man with good opportunities to harness it and makes a good level of agricultural food production and its processing in the EU region. The primary objective of this research is to examine the impact of geothermal energy on agri-food supply among the 27 European countries (EU27), within the time frame 1990 to 2021. The study adopted the autoregressive distributed lag (ARDL), and the findings from this study revealed that agri-food supply can increase significantly among the 13 European countries (EU13 emerging economies), leveraging on geothermal energy and economic growth variables than in the EU14 emerged economies. Furthermore, the outcome of this study showed that there could be a significant decrease in the food products coming from agricultural practices among the 13 European countries (EU13 emerging economies), due to an ineffective population density than in EU14 emerged economies. Furthermore, fossil fuel and institutional quality contribute more positively to the agri-food supply in the EU14 emerged economies than in the EU13 emerging economies. This results in an outcome that means that the agri-food supply among the EU13 emerging economies could be greatly boosted by replacing fossil fuel consumption with geothermal energy, and this facilitates the attainment of the European energy goals by the year 2030. Substituting fossil fuels with geothermal will also assist in minimizing the risks of environmental pollution and climate change. All projected calculations were seen as valid in this study, and this was confirmed by the three estimators adopted which are the pooled mean group, the mean group, and the dynamic fixed effect. This study, therefore, recommends that the 27 European countries should lay more emphasis on geothermal energy production as this will help in ensuring food security in the region. Policymakers and other government authorities as well as local and foreign investors should make more investments in geothermal energy resources as this study has proven that this will lead to agri-food security and sustainability. Not only this, it will as well curb the incidence of climate change and environmental pollution.
There are many advantages of geothermal energy as an environmentally friendly resource; however, there are quite a several challenges that need to be overcome to completely harness sustainable and renewable energy that is also natural. The primary aim of this study is to examine what influence geothermal energy will have on land use changes among the considered 27 states in the European Union from the time being 1990 to 2021. The study adopts the auto-regressive distributed lag (ARDL); the findings show that geothermal energy growth could be leveraged to achieve remarkable growth in land use change among the 13 European developing economies than among the 14 EU developed economies. On the other hand, results from analysis further show that a remarkable decrease in land use change could be better attained among the 14 EU developed economies that among the 13 EU developing economies as a result of institutional quality. Furthermore, the result suggests that through economic growth, there could be a remarkable increase in land use change among the 14 EU developed economies than among the 13 EU developing economies. It was further revealed by the study that the level of land use change among the 27 EU nations could be remarkably increased, boosting the level of geothermal energy production that will assist in attaining the aims behind the 2030 energy union. This will eventually help in curbing the incidence of climate change and pollution in the environment; the projected calculations are observed to be valid, as confirmed through the chosen three estimators for this research. The chosen estimators are the pooled mean group, mean group, and dynamic fixed effect. The regulations and governors in 27 European Union countries should give priority to using geothermal in their renewable energy mix to reduce the incidence of changes in land structures. Also, an increased level of efficiency and effectiveness should be made to the generation of geothermal energy by state actors and investors to prompt sustainability and attainability with no further depreciation in agricultural and forest natural states.
Information on temporal and spatial variations in soil greenhouse gas (GHG) fluxes from tropical peat forests is essential to predict the influence of climate change and estimate the effects of land use on global warming and the carbon (C) cycle. To obtain such basic information, soil carbon dioxide (CO2) and methane (CH4) fluxes, together with soil physicochemical properties and environmental variables, were measured at three major forest types in the Maludam National Park, Sarawak, Malaysia, for eight years, and their relationships were analyzed. Annual soil CO2 fluxes ranged from 860 to 1450 g C m⁻2 yr⁻1 without overall significant differences between the three forest sites, while soil CH4 fluxes, 1.2-10.8 g C m⁻2 yr⁻1, differed. Differences in GHG fluxes between dry and rainy seasons were not necessarily significant, corresponding to the extent of seasonal variation in groundwater level (GWL). The lack of significant differences in soil CO2 fluxes between the three sites could be attributed to set-off between the negative and positive effects of the decomposability of soil organic matter as estimated by pyrophosphate solubility index (PSI) and GWL. The impact of El-Niño on annual CO2 flux also varied between the sites. The variation in soil CH4 fluxes from the three sites was enhanced by variations in temperature, GWL, PSI, and soil iron (Fe) content. A positive correlation was observed between the annual CH4 flux and GWL at only one site, and the influence of soil properties was more pronounced at the site with the lowest GWL and the highest PSI. Variation in annual CH4 fluxes was controlled more strongly by temperature where GWL was the highest and GWL and plant growth fluctuations were the least. Inter-annual variations in soil CO2 and CH4 fluxes confirmed the importance of long-term monitoring of these at multiple sites supporting different forest types.
Prior studies on environmental standards have highlighted the significance of urbanization and transportation in affecting environmental sustainability worldwide. As the empirical and theoretical debates are still unresolved and divisive, the argument of whether urbanization, transportation and economic growth in Association of Southeast Asian Nations (ASEAN) countries cause greenhouse gas (GHG) emissions remains unclear. This study aim is to examine dynamic linkage between transportation, urbanization, economic growth and GHG emissions, as well as the impact of environmental regulations on GHG emission reduction in ASEAN countries over the years 1995-2018. On methodological aspects, the study accompanies a few environmental studies that check the cross-sectional dependence and slope heterogeneity issues. Moreover, the new cross-sectionally augmented autoregressive distributed lags (CS-ARDL) methodology is also applied in the study to estimate the short-run and long-run effects of the factors on GHG emissions. Substantial evidence is provided that GHG emissions increase with transportation, urbanization and economic growth but decrease with the imposition of environmental-related taxations. Augmented mean group (AMG) and common correlated effect mean group (CCEMG) also support the findings of CS-ARDL estimates. Finally, the study calls for drastic actions in ASEAN countries to reduce GHG emissions, including environmentally friendly transportation services and environmental regulation taxes. This study also provides the guidelines to the regulators while developing policies related to control the GHG emission in the country.
Over the last three decades, the world has been facing the phenomenon of the ecological deficit as the ecological footprint is continuously rising due to the persistent decline of the per-capita bio-capacity. Moreover, there is a substantial increase in globalization and electricity consumption for the same period, and transportation is contributing to economic prosperity at the cost of environmental sustainability. Understanding the determinants of ecological footprint is thus critical for suggesting appropriate policies for environmental sustainability. As a result, this study analyzes the impacts of economic globalization, transportation, coal rents, and electricity consumption in ecological footprint in the context of the USA over the period 1995 to 2018. The data have been extracted from "Global Footprint Network," "Swiss Economic Institute," and "World Development Indicators." The current study has also applied the flexible Fourier form nonlinear unit root test to examine the stationarity among variables. For the empirical estimation, a novel technique, the "quantile auto-regressive distributive lag model," is applied in the study to deal with the nonlinear associations of the variables and to evaluate the long-term stability of variables across quantiles. The study's findings indicate that coal rents, transportation, and globalization significantly and positively contribute to the deterioration of ecological footprints at different quantile ranges in the short and long run. Electricity consumption is found to have a positive and significant impact at lower quantile ranges in the long run but not have a significant impact in the short run. The study suggested that lowering the dependence of the transport sector on fossil fuels, more use of hydroelectricity, and stringent strategies to curb coal consumption would be helpful to reduce the positive influence of these variables on ecological footprints in the USA.
As the negative repercussions of environmental devastation, such as global warming and climate change, become more apparent, environmental consciousness is growing across the world, forcing nations to take steps to mitigate the damage. Thus, the current study assesses the effect of green investments, institutional quality, and political stability on air quality in the G-20 countries for the period 2004-2020. The stationarity of the variables was examined with the Pesaran (J Appl Econ 22:265-312, 2007) CADF, the long-term relationship between the variables by Westerlund (Oxf Bull Econ Stat 69(6):709-748, 2007), the long-run relationship coefficients with the MMQR method proposed by Machado and Silva (Econ 213(1):145-173, 2019), and the causality relationship between the variables by Dumitrescu and Hurlin (Econ Model 29(4):1450-1460, 2012) panel causality. The study findings revealed that green finance investments, institutional quality and political stability increased the air quality, while total output and energy consumption decreased air quality. The panel causality reveals a unidirectional causality from green finance investments, total output, energy consumption and political stability to air quality, and a bidirectional causality between institutional quality and air quality. According to these findings, it has been found that in the long term, green finance investments, total output, energy consumption, political stability, and institutional quality affect air quality. Based on these results, policies implications were proposed.
According to the United Nations Agenda, the 2023 sustainable environment is necessary to secure this planet's future; public-private partnerships investment in energy is crucial to sustainable development. The research examines the quantile association between public-private partnership ventures in energy and environmental degradation in ten developing nations, and data is used from January 1998-December 2016. The advanced econometrics quantile-on-quantile regression approach is used to control the issues of heterogeneity and asymmetric relationship. According to the quantile-on-quantile approach, there is a strong positive association between public-private partnerships in energy and environmental degradation in Argentina, Brazil, Bangladesh, and India. But the negative relationship is observed on different quantiles of China, Malaysia, Mexico, Peru, Thailand, and the Philippines. The findings suggest that the world needs to act as a single community and divert its resources toward renewable energy sources to control climate change; also, to accomplish the UN 15-year road map of Agenda 2023 with 17-SDGs; out of these 17 sustainable goals, SDG-7 is related to affordable and clean energy, SDG-11 is about sustainable cities and communities, and SDG-13 focuses on climate action for sustainable development.
This study examines the impact of government spending, income, and tourism consumption on CO2 emissions in the 50 US states through a novel theoretical model derived from the Armey Curve model and the Environmental Kuznets Curve hypothesis. The findings of this research are essential for policymakers to develop effective strategies for mitigating environmental pollution. Utilizing panel cointegration analysis, the study provides valuable insights into whether continued increases in government spending contribute to higher pollution levels. By identifying the threshold point of spending as a percentage of GDP, policymakers can make informed decisions to avoid the trade-off between increased spending and environmental degradation. For instance, the analysis reveals that Hawaii's tipping point is 16.40%. The empirical results underscore the importance of adopting sustainable policies that foster economic growth while minimizing environmental harm. These findings will aid policymakers in formulating targeted and efficient approaches to tackle climate change and promote long-term environmental sustainability in the United States. Moreover, the impact of tourism development on CO2 emissions varies across states, with some US states experiencing a decrease while others see an increase.
Energy is one of the prime factors in influencing the sustainable development of a country. Different energy sources play important roles in driving the income growth of different economic sectors such as industrial, agricultural, and services. Fossil fuels, however, have come under strong criticism for actively accelerating climate change. As such, it is imperative to investigate the contributions of various energy sources toward sustainable growth. With Malaysia as the test-bed, the present study analyzes the impact of energy prices on economic stability using the novel wavelet-based analysis. Specifically, the study analyzed the impact of crude oil, natural gas, and gasoline prices on the economic (brown) and green growth from 1995 to 2020. The results show that in continuous wavelet transform, the cone of influence of all five factors exhibits strong short-run variance and fluctuations from 2005 to 2013. However, the intensity of brown growth is more influential than green growth. Similarly, in wavelet coherence graphs, the downward right arrows indicate positively significant associations between crude oil prices, natural gas prices, and gasoline prices with brown and green growth. Additionally, wavelet-based Granger causality reveals a bidirectional causal relationship between all variables. The results thus strongly suggest that energy prices predominantly affect the economic (brown) and green growth progression of the Malaysian economy. The study concludes with some suggested implications to augment the country's sustainable growth.
The foremost purpose of the study is to establish a point that an economy of G-7 countries has an abundance of resources to tackle the environmental changes that occur in the world, but these countries are still behind the line because in this modern era, environmental performance changes their shape, dimension, and nature very frequently and create a huge impact on globalization of world economy. To fill this gap, we use green investment, institutional quality, and economic growth on environmental performance for this, we use four proxies for green investment and three proxies for greenhouse gas, and we also use six proxies of institutional quality to do this using period of 1997 to 2021. Moreover, we have used the panel nonlinear autoregressive distributed lag method to evaluate the long-run and short-run asymmetric effects of green investment, institutional quality, and economic growth on greenhouse gas emissions. The findings of the study affirm that the positive change of green investment has a positive and significant relationship with environmental performance, while the negative change of green investment has a significant and positive influence with environmental performance in the long run. Furthermore, the outcomes demonstrate that the positive shock of institutional quality has a positive and significant relationship with environmental performance, while the negative shock of intuitional quality has a significant and positive association with environmental performance in the long run, whereas positive change in economic growth has a positive and significant with the environmental performance, while the negative change of economic growth has a positive effect with environmental performance in the long run. This study finds future precautions that institutional quality has to perform exceptionally and shows results very rapidly, while green investment with economic growth has also made a deadly combination to control greenhouse gas emission, so the role of G-7 countries is pretty clear and straight. Furthermore, it is suggested that governments and policymakers take a proactive stance to promote resource acquisition and investment across all industries. To reduce gas emissions, public interest might also be complementary to private ones. So, economic policymakers, specifically in G-7 countries, should consider strategies that support sustainable economic growth.
The current study examines sustainable electricity consumption for economic growth in a small open and tourist economy. The energy-tourism nexus is evaluated for the relationship between sustainable electricity consumption and the international tourist arrival for the South African economy. The present study leverages on annual frequency data for South Africa from 1995 to 2019 for empirical analysis using the ARDL technique. Accordingly, empirical findings indicate a significant direct connection between the sustainable electricity consumption and the international tourism arrival; the study affirms that tourism-induced energy hypothesis is valid in South Africa. However, from a policy standpoint, alternative energy efficiency mechanisms such as renewable energy systems and emancipation of current energy management capabilities are recommended in South Africa. This is necessary for sustainable eco-friendly tourism that engenders clean energy consumption for the study area. More insights into policy caveats are presented in the concluding section.
China is responsible for the biggest shellfish and macroalgae production in the world. In this study, comprehensive methods were used to assess the CO2 release and sequestration by maricultured shellfish and macroalgae in China. Through considering CaCO3 production and CO2 release coefficient (Φ, moles of CO2 released per mole of CaCO3 formed) in different waters, we find that cultured shellfish released 0.741 ± 0.008 Tg C yr-1 through calcification based on the data of 2016-2020. In addition to calcification, maricultured shellfish released 0.580 ± 0.004 Tg C yr-1 by respiration. Meanwhile, shellfish sequestered 0.145 ± 0.001 and 0.0387 ± 0.0004 Tg C yr-1 organic carbon in sediments and shells, respectively. Therefore, the net released CO2 by maricultured shellfish was 1.136 ± 0.011 Tg C yr-1, which is about four times higher than that maricultured macroalgae could sequester (0.280 ± 0.010 Tg C yr-1). To achieve carbon neutrality within the mariculture system, shellfish culture may need to be restricted and meanwhile the expansion of macroalgae cultivation should be carried out. The mean carbon sequestration rate of seven kinds of macroalgae was 174 ± 6 g m-2 yr-1 while some cultivated macroalgae had higher CO2 sequestration rates, e.g. 356 ± 24 g C m-2 yr-1 for Gracilariopsis lemaneiformis and 331 ± 17 g C m-2 yr-1 for Undaria pinnatifida. In scenario 0.5 (CCUS (Carbon Capture, Utilization and Storage) sequesters 0.5 Gt CO2 per year), using macroalgae culture cannot achieve China's carbon neutrality by 2060 but in scenarios 1.0 and 1.5 (CCUS sequesters 1.0 and 1.5 Gt CO2 per year, respectively) it is feasible to achieve carbon neutrality using some macroalgae species with high carbon sequestration rates. This study provides important insights into how to develop mariculture in the context of carbon-neutrality and climate change mitigation.
The world faces immense pressure regarding the negative impacts of increased greenhouse gas emissions, climate change, global warming, droughts, and many other environmental problems. Australia is also facing the same issues and requires urgent attention. In this research, we have examined the effect of hydrogen firms on Australia's greenhouse gas emissions. We employed the monthly data from January 2002 to December 2021 for econometric estimations. Through quantile regression, it is noted that the expansion of hydrogen firms contributes to environmental pollution instead of controlling the emissions. Most hydrogen energy still emits carbon dioxide, which contributes to climate change. Around the world, carbon-containing fossil fuels produce more than 95% of hydrogen energy. However, as a policy suggestion, it is recommended that green hydrogen produced by electrolysis of water using renewable energy sources will succeed in achieving the Sustainable Development Goals (SDGs).