Modelling the Nexus between Financial Development, FDI, and CO2 Emission: Does Institutional Quality Matter?

The present study draws motivation from the United Nations Sustainable Development Goals, with a special focus on SDGs 7 and 13, which highlight the need for access to clean and affordable energy in an environment devoid of emissions; it addresses climate change mitigation in the context of Sub-Saharan Africa. To this end, a carbon-income function setting for Sub-Saharan Africa (SSA) is constructed. The dynamic relationship between financial development and climate change is evaluated using three indicators and foreign direct investment and carbon dioxide emissions (CO2), while accounting for regulatory institutional quality using a “generalized method of a moment” estimation technique that addresses both heterogeneous cross-sectional issues. Empirical results obtained showed a positive statistical relationship between economic growth and CO2 emissions in SSA at the <0.01 significance level. This suggests that, in SSA, the economic growth path is pollutant emissions driven. This indicates that SSA is still at the scale phase of her growth trajectory. However, an important finding from the present study is that regulatory institutional indicators, such as political stability, government effectiveness, control of corruption, and voice and accountability, all exert a negative effect on CO2 emissions. This implies that regulatory measures militate against emissions in SSA. Based on the empirical findings of this study, it can be concluded that clean FDI inflows assist in ameliorating emissions. Thus, the need for a paradigm shift to cleaner technologies, such as renewables, that are more eco-friendly, is encouraged in Sub-Saharan Africa, as the current study demonstrates the mitigating role of renewable energy consumption on CO2 emissions. Further policy prescriptions are presented in the concluding section

Effect of two different heat transfer fluids on the performance of solar tower csp by comparing recompression supercritical co2 and rankine power cycles, china

China intends to develop its renewable energy sector in order to cut down on its pollution levels. Concentrated solar power (CSP) technologies are expected to play a key role in this agenda. This study evaluated the technical and economic performance of a 100 MW solar tower CSP in Tibet, China, under different heat transfer fluids (HTF), i.e., Salt (60% NaNO3 40% KNO3 ) or HTF A, and Salt (46.5% LiF 11.5% NaF 42% KF) or HTF B under two different power cycles, namely supercritical CO2 and Rankine. Results from the study suggest that the Rankine power cycle with HTF A and B recorded capacity factors (CF) of 39% and 40.3%, respectively. The sCO2 power cycle also recorded CFs of 41% and 39.4% for HTF A and HTF B, respectively. A total of 359 GWh of energy was generated by the sCO2 system with HTF B, whereas the sCO2 system with HTF A generated a total of 345 GWh in the first year. The Rankine system with HTF A generated a total of 341 GWh, while the system with B as its HTF produced a total of 353 GWh of electricity in year one. Electricity to grid mainly occurred between 10:00 a.m. to 8:00 p.m. throughout the year. According to the results, the highest levelized cost of energy (LCOE) (real) of 0.1668 USD/kWh was recorded under the Rankine cycle with HTF A. The lowest LCOE (real) of 0.1586 USD/kWh was obtained under the sCO2 cycle with HTF B. In general, all scenarios were economically viable at the study area; however, the sCO2 proved to be more economically feasible according to the simulated results. © 2021 by the authors. Licensee MDPI, Basel, Switzerland

Machine Learning Applications in Renewable Energy (MLARE) Research: A Publication Trend and Bibliometric Analysis Study (2012-2021)

This study examines the research climate on machine learning applications in renewable energy (MLARE). Therefore, the publication trends (PT) and bibliometric analysis (BA) on MLARE research published and indexed in the Elsevier Scopus database between 2012 and 2021 were examined. The PT was adopted to deduce the major stakeholders, top-cited publications, and funding organizations on MLARE, whereas BA elucidated critical insights into the research landscape, scientific developments, and technological growth. The PT revealed 1218 published documents comprising 46.9% articles, 39.7% conference papers, and 6.0% reviews on the topic. Subject area analysis revealed MLARE research spans the areas of science, technology, engineering, and mathematics among others, which indicates it is a broad, multidisciplinary, and impactful research topic. The most prolific researcher, affiliations, country, and funder are Ravinesh C. Deo, National Renewable Energy Laboratory, United States, and the National Natural Science Foundation of China, respectively. The most prominent journals on the top are Applied Energy and Energies, which indicates that journal reputation and open access are critical considerations for the author’s choice of publication outlet. The high productivity of the major stakeholders in MLARE is due to collaborations and research funding support. The keyword co-occurrence analysis identified four (4) clusters or thematic areas on MLARE, which broadly describe the systems, technologies, tools/technologies, and socio-technical dynamics of MLARE research. Overall, the study showed that ML is critical to the prediction, operation, and optimization of renewable energy technologies (RET) along with the design and development of RE-related materials

Beyond Environmental Kuznets Curve and Policy Implications to Promote Sustainable Development in Mediterranean

In acknowledgment of the devastating consequences of environmental deterioration, the Mediterranean members are committed to adopt the 2015 treaty action plans of the Paris Climate Agreement (COP21) as carbon dioxide emission (CO2) are on the rise in the Mediterranean region, which seems to be a serious challenge to our world's environment. To this end, our study examined the impact of Foreign Direct Investment (FDI) on environmental degradation for the Mediterranean members for the period between 1995 to 2016. However, variables such as, financial development, economic growth, renewable energy and fossil fuel were further examined by the use cross-sectional-Panel pooled Auto Regressive Distributed Lag methodology, Augmented Mean Group (AMG) and Dumitrescu and Hurlin panel causality test was used for causality analysis. The co-integration results from Westerlund (2007) shows a long-run equilibrium relationship between highlighted variables. The empirical result revealed a negative relation between FDI and CO2 indicating pollutant Hallo Hypothesis (PHH). Moreover, income and its square show an inverted U-Shaped curve indicating environmental Kuznets curve (EKC) hypothesis. Both financial development and renewable energy indicated an adverse association with CO2 emission whereas fossil fuel had a positive relationship with emissions. However, there was a feedback causality among income and carbon emission as well as financial development and carbon emission. Furthermore, we observe that FDI and carbon emission, renewable energy and carbon emission, as well as fossil fuel and carbon emission were found to have one-way causal relationship. Overall, the study suggests some policy prescriptions including the implementation of conservation initiatives and the establishment of clean energy regulation and strategies for the investigated bloc. © 2021 The Authors.The work of H. Haes Alhelou was supported in part by Science Foundation Ireland (SFI) under the SFI Strategic Partnership Programme Grant Number SFI/15/SPP/E3125 and additional funding provided by the UCD Energy Institute. The opinions, findings and conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of the Science Foundation Ireland

Consequences of Covid-19 on the Social Isolation of the Chinese Economy: Accounting for the Role of Reduction in Carbon Emissions

The main contribution of the present study to the energy literature is linked to the interaction between economic growth and pollution emission amidst globalization. Unlike other studies, this research explores the effect of economic and social isolation as a dimension of globalization. This allows underpinning the effects on the Chinese economic development of the isolation phenomenon as a consequence of coronavirus (COVID-19). To this end, annual time frequency data is used to achieve the hypothesized claims. The study resolutions include (i) The existence of a long-run equilibrium bond between the outlined variables (ii) The long-run estimates suggest that the Chinese economy over the investigated period, is inelastic to pollutant–driven economic growth as reported by the dynamic ordinary least squares, fully modified ordinary least squares and canonical regressions with a magnitude of 0.09%. (iii) The Chinese isolation is less responsive to its economic growth while the country political willpower is elastic as demonstrated by current government commitment to dampen the effect of the COVID-19 pandemic. This is marked by the aggressive response on the government officials resolute by flattening the exponential impact of the pandemic. Based on these robust results some far-reaching policy implication(s) are underlined in the concluding remark section

Energy consumption, economic policy uncertainty and carbon emissions; causality evidence from resource rich economies.

The study uses the new World Uncertainty Index to analyze the causality and long-run effects of economic policy uncertainty and energy consumption in a carbon function for countries with high geopolitical risk over the period 1996 - 2017. The Kao test shows a cointegration association between energy consumption, economic growth, geopolitical risk, economic policy uncertainty, and carbon dioxide emissions (CO2). The results based on the Panel Pooled Mean Group-Autoregressive Auto regressive distributed lag model (PMG-ARDL) show that energy consumption and economic growth trigger carbon emissions. Additionally, there is a significant association between economic uncertainties and CO2 emissions in the long-run, while this relationship is negative for geopolitical risks. This implies that higher levels of economic policy uncertainties adversely affect environmental sustainability for countries with higher levels of geopolitical risks. The panel causality analysis by Dumitrescu and Hurlin (2012) identifies a bidirectional relationship between CO2 emissions and energy consumption, economic policy uncertainty and CO2 emissions, economic growth and CO2 emissions, but a unidirectional causality from CO2 emissions to geopolitical risks. Our findings call for the need for vital changes in energy policies to accommodate economic policy uncertainties and geopolitical risks

Analyzing transport demand and environmental degradation: the case of G-7 countries

The debate for green development has been ongoing in the energy and environment literature—especially initiatives to mitigate climate change. On this note, we explore the effects of the air and railway transport demand, fossil-fuel energy consumption, demographic policies, economic growth, and alternative energy consumption on environmental degradation in Group of Seven (G7) economies. Using robust panel estimation techniques that account for cross-sectional dependence, empirical results affirm the presence of long-run relationships among variables. Besides, the results give credence to the environmental Kuznets curve hypothesis (EKC) in G7 countries over the sampled period. We observe that demand for air transport, energy from fossil fuel sources, and economic development dampen environmental quality by 0.12%, 0.33%, and 46.54%, respectively. Interestingly, renewable energy and rail transportation demand improve environmental quality. This outcome resonates with the need for alternative and clean energy production and consumption (Sustainable Development Goals 11 and 12) while enhancing the fight against climate change—especially the adoption of clean energy technologies in the air transport sector for sustainable growth

Glasgow climate change conference (COP26) and its implications in sub-Sahara Africa economies

Alternative energy has been hailed as a feasible resolution to the environmental degradation and energy problems that have plagued Sub-Saharan Africa (SSA) recently. The expansion of the clean energy sector, on the other hand, relies on economic growth, effective governance, and financial considerations. As a result, it is important to investigate the links between these variables in SSA. This study investigated the influence of economic growth, institutional quality, foreign direct investment (FDI), and financial development on renewable energy at the national threshold in SSA using a two-step difference GMM model based on panel data collected from 2002 to 2019. The outcome shows that economic growth and all three financial development indicators (FD1, FD2 and FD3) have a positive significant relationship with renewable energy. Furthermore, for SSA countries, FDI, as well as all six proxy factors for institutional quality, had a negative significant influence on renewable energy. Our empirical findings propose a variety of policies that might help the renewable energy sector grow