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This paper originally proposed the fuzzy option pricing method for green bonds. Based on the requirements of arbitrage equilibrium, this paper draws on Merton's corporate bond option pricing model.

Describing the asset value behavior of green bond issuing enterprises through diffusion-jump processes to reflect the uncertainty brought by carbon emission reduction policies and technologies, using approximation methods to get the analytical pricing formula and then, using a fuzzification technique of Choquet expectation under  λ-additive fuzzy measures after considering fuzzy factors, the paper provides fuzzy intervals for the parity coupon rates of green bonds with different subjective levels for investors.

The paper proposes and argues the classical and fuzzy option pricing methods in turn for both corporate ordinary bonds and green bonds, considering carbon risk or climate risk. It implements the scenario analysis varying with industry emission standards and discusses the sensitiveness of the related key parameters of the option.

The fuzzy option pricing for the green bonds provides the scope of the variable equilibrium values, operational theoretical supports and some policy implications of carbon reduction and promoting green funding.

The logic of introducing the fuzziness of the option pricing for the green bonds lies with considering the existence of fuzzy information about the project supported by the green bond and the subjectivity of investors and it also responds to changes in technological uncertainty and policy uncertainty in the process of “carbon peaking and carbon neutrality.”

This study aims to investigate the external effect of the economic growth target pressure of local governments on establishment-level SO₂ emissions.

Based on manually collected panel data of 74,058 China's industrial establishments and more than 330 thousand observations from CIED and ESR, the authors use a firm-fixed effect model, instrumental variables estimation and heterogeneity tests to identify the environmental externality of economic growth target pressure.

The establishments in cities that meet or slightly exceed the economic growth target experience greater negative externality measured by SO₂ emission intensity. This external effect is more pronounced in regions: with a strict and overweighted target setting; with stronger officials' promotion incentives; with a low degree of marketization; and in firms with great economic importance. The authors identify the underlying mechanisms of dependence on dirty industry and the relaxation of environmental enforcement. And the environmental protection constraints in 2007 mitigate the negative externality.

The paper sheds light on to what extent economic growth target pressure has a negative externality of pollution in China and how this pressure may conflict with environmental protection.

This paper complements prior research on the economic effects of economic growth targets, expands the knowledge on the determinants of establishment-level pollution emission from the perspective of target pressure and provides insight into the environmental externality that results from political factors.

Climate change is one of our time’s most pressing global environmental challenges, and environmental innovation is critical to addressing it. This study aims to investigate the relationship between environmental innovation and carbon emission in the healthcare industry in Europe while also examining the moderating role of environmental governance.

Data for this study were collected from publicly listed healthcare companies in ten European countries spanning the years 2012–2021. The selected countries encompassed Belgium, Denmark, France, Germany, Italy, Netherlands, Spain, Sweden, Switzerland and the United Kingdom. The research encompassed all healthcare companies for which data were accessible, resulting in a comprehensive dataset comprising 1,210 companies. The authors collected data from multiple sources, including annual reports, the World Bank and Eikon databases, to ensure a robust and extensive dataset.

The results of this study indicate that environmental governance plays a significant moderating role in the relationship between environmental innovation and carbon emission within the healthcare sector in Europe, but when combined with high levels of environmental innovation, strong environmental governance leads to enhanced efforts to reduce carbon emissions. This combination also contributes to meeting the expectations of a broader range of stakeholders and maintaining legitimacy.

The study’s findings have practical implications for healthcare regulators, policymakers and various stakeholders. It underscores the importance of integrating solid environmental governance and innovation to address climate change challenges in the healthcare sector effectively. This integrated approach not only helps reduce carbon emissions but also contributes to achieving sustainable outcomes while satisfying a wider range of stakeholders.

This study adds to the existing body of knowledge by highlighting the significant role of environmental governance as a moderator in the relationship between environmental innovation and carbon emission in the healthcare industry. The research findings provide valuable insights for academics, practitioners and decision-makers, emphasizing the need to combine governance and innovation for sustainable outcomes in healthcare sectors.

The study examines the effect of natural resources (NRs) and the control of corruption, voice and accountability and regulatory quality on carbon emissions in Africa. Aside from their individual effects, the moderation effect of institutional quality is assessed.

Data from 32 African countries from 2002 to 2021 and the fully modified ordinary least squares (FMOLS) and dynamic ordinary least squares (DOLS) regression methods were used for the investigation.

In the long term, the NRs effect is sensitive to the estimation technique employed. However, quality regulatory framework, robust corruption control and voice and accountability abate any positive effect of NRs on carbon emissions. Institutional quality can be argued to moderate the CO2-emitting potentials of resource extraction in the selected African countries.

Enhancing regulation quality, enforcing corruption control and empowering citizens towards greater participation in governance and demanding accountability are essential catalyst to effectively mitigate CO2 emissions resulting from NRs.

The moderation effect of control of corruption, voice and accountability and regulatory quality on the NR–carbon emission nexus is examined.

The purpose of this study is to analyze the effect of foreign direct investment (FDI) on pollution emissions and how environmental regulation affects this relationship.

In the empirical research, the authors selected panel data for 30 provinces in China from 2005 to 2019 as samples. First, the authors used the instrumental variable method to verify the existence of the above hypotheses in China. Then, the authors analyzed the moderating effect of different types of environmental regulations on the environmental effects of FDI. Next, in further discussion, the authors analyzed the difference between the environmental effect and the moderating effect in different time periods and regions, respectively. Finally, the authors discussed whether the different intensities of environmental regulations lead to the transfer effect of FDI in choosing investment destinations.

The result shows that FDI can help reduce pollution emissions and create a “pollution halo” effect, which is enhanced by command-and-control regulation but suppressed by market-based incentives. The heterogeneity analysis reveals that the 18th National Congress of the Communist Party has weakened the pollution halo effect of FDI, while the environmental effect of FDI in the eastern region is not significant, but in the middle and western regions, there is a significant pollution halo effect and a positive moderating effect of environmental regulations. Finally, further analysis reveals that FDI has a transfer effect under command-and-control environmental regulations.

First, the main purpose of this paper is to study the relationship between FDI and pollution emissions from the perspective of heterogeneous environmental regulation. Therefore, there is no detailed discussion on their effect mechanism of them. Second, limited by data, the authors adopt the single index to measure the stringency index of command-and-control and market-based incentive environmental regulations in China. The single index may not be able to fully reflect the intensity of regional environmental regulation, so the construction of a composite indicator is necessary. These shortcomings are the focus of the authors' future research.

Under the guidance of high-quality development, the conclusions above can provide reference for adjusting FDI policies and improving environmental regulation policies.

The innovations in this paper can be summarized as the following four dimensions: First, the authors use the instrumental variable (IV) method to address endogeneity in the relationship between FDI and pollution emission, which can further ensure the robustness of the research results and increases the credibility of the paper. Second, the authors distinguish between two types of environmental regulations to investigate their moderating effect on the environmental impact of FDI. Third, the authors consider the temporal and spatial heterogeneity of both the environmental effects of FDI and the moderating effect of regulation. Last, the authors analyze the spatial spillover of environmental regulation through the study of the transfer effect.

The present study aims at quantifying the likely impacts of an environmental tax on macroeconomic variables and pollution in Iran.

The computable general equilibrium model, which allows the prediction of the economy-wide effects of any change in policy instruments, is applied.

The main findings reveal that gross domestic product, private consumption and income in both urban and rural areas will follow a declining trend as a result of environmental tax imposition. In a scenario with the highest level of tax, the predicted percentage change to the gross domestic product and private consumption is estimated at −21.32 and −40.96, respectively. In the same scenario, pollution emissions would decrease by 12.4–22.6% for CO2, CH4 and N2O.

This study uses a general equilibrium model to examine the effects of the carbon tax on environmental issues and household welfare, considering the unique conditions and regulations of Iran. While the related literature examines the CO2 tax, the current study covers more pollutants, including CO2, CH4, N2O, CO, SO2 and NOx. In addition, a distinguishing feature of the current study is that it applies a modified version of the social accounting matrix (SAM) database, which includes the heavy subsidies of energy products. Another significant feature of the current study is that it examines tax policy while tax rates are exerted endogenously (compared to previous studies).

The purpose of this study is to analyze the correlation between a company’s efforts to reduce carbon emissions and its actual carbon performance. Additionally, the study investigates how female decision-makers may influence this relationship as moderators.

This study uses a data set consisting of 1,258 observations from companies listed on the STOXX Europe 600 index between 2009 and 2021. The study applies the ordinary least squares technique to investigate the connection between carbon reduction initiatives and actual carbon performance, taking into account the potential impact of board and executive gender diversity. To ensure the reliability of the findings, subsample analysis and a two-step generalized method of moments technique were used.

The results show a significant negative association between a firm’s commitment to environmental initiatives and its carbon emission intensity. Furthermore, the study explores the moderating effect of board and executive gender diversity on this relationship and finds that gender diversity has a significant negative impact on the relationship between emissions reduction initiatives and carbon emissions.

The study has practical implications for corporate sustainability efforts. It highlights the importance of implementing carbon reduction initiatives to effectively mitigate carbon emissions. This emphasizes the need for sustainable business strategies that prioritize environmental initiatives. Additionally, the study underscores the positive impact of gender diversity in leadership positions on carbon reduction efforts. Policymakers and organizations can leverage these findings to promote gender diversity and enhance sustainability practices.

It provides evidence-based insights for policymakers to develop specific policies and action plans in priority areas such as climate change and emissions reduction. It also highlights the positive influence of gender diversity in corporate leadership on environmental initiatives, promoting inclusivity and equality in sustainability practices.

This study brings originality by investigating the direct impact of a company’s carbon reduction initiatives on its carbon performance. It also explores the moderating effect of board and executive gender diversity on this relationship. The study provides evidence-based insights for policymakers and applies neo-institutional theory to analyze the interplay between carbon reduction initiatives, carbon emissions and gender diversity in executive and board positions.

The interconnected challenges of climate change and social inclusivity have placed unprecedented pressure on businesses to adopt responsible practices. While previous research has explored the individual impacts of environmental, social, and governance (ESG) performance and diversity initiatives, there remains a dearth of comprehensive investigations into how these factors collectively influence carbon emission scores. Drawing on the legitimacy theory, we explore whether ESG and diversity scores predict global companies' carbon emission scores. As concerns about the environmental impact of businesses grow, understanding the relationships between ESG performance, diversity management, and carbon emissions becomes imperative for sustainable corporate practices.

The primary dataset for this study includes 1,268 worldwide firm-year data for 2021. The sample is subjected to missing data examination as a component of the filtration process. Data preprocessing is performed before machine learning analysis, including verifying missing data. Our research resulted in the final sample, which includes 627 worldwide firm data from 2021. Data regarding all publicly traded companies was obtained from Refinitiv Eikon.

Our findings showed that corporate carbon emission performance in global corporations is influenced by ESG performance and total diversity score.

Firms involve in ESG as well as diversity practices to be able to achieve sustainable success. Yet, the forecasting of carbon emissions based on ESG scores and diversity scores remains inadequately established due to conflicting findings and enigmas prevalent in the literature.

Growing food insecurity is a leading cause of fatalities, particularly in developing nations like Sub-Saharan Africa and Southeast Asia. However, the rising energy consumption and carbon dioxide (CO2) emissions are mostly associated with food production. Balancing the trade-offs between energy intensity and food security remains a top priority for environmentalists. Despite the critical role of the environment in food security, there is a scarcity of substantial studies that explore the statistical connections among food security, CO2 emissions, energy intensity, foreign direct investment (FDI) and per capita income. Therefore, this study aims to provide more precise and consistent estimates of per capita CO2 emissions by considering the interplay of food security and energy intensity within the context of emerging economies.

To examine the long-term relationships between CO2 emissions, food security, energy efficiency, FDI and economic development in emerging economies, this study employs correlated panel-corrected standard error, regression with Newey–West standard error and regression with Driscoll–Kraay standard error models (XTSCC). The analysis utilizes data spanning from 1980 to 2018 and encompasses 32 emerging economies.

The study reveals that increasing food security in a developing economy has a substantial positive impact on both CO2 emissions and energy intensity. Each model, on average, demonstrates that a 1 percent improvement in food security results in a 32% increase in CO2 levels. Moreover, the data align with the Environmental Kuznets Curve (EKC) theory, as it indicates a positive correlation between gross domestic product (GDP) in developing nations and CO2 emissions. Finally, all experiments consistently demonstrate a robust correlation between the Food Security Index (FSI), energy intensity level (EIL) and exchange rate (EXR) in developing markets and CO2 emissions. This suggests that these factors significantly contribute to environmental performance in these countries.

This study introduces novelty by employing diverse techniques to uncover the mixed findings regarding the relationship between CO2 emissions and economic expansion. Additionally, it integrates energy intensity and food security into a new model. Moreover, the study contributes to the literature by advocating for a sustainable development goal (SDG)-oriented policy framework that considers all variables influencing economic growth.

This study aims to shed light on the experience of the United Arab Emirates (UAE) in balancing three main pillars: the environmental criteria, the reduction of CO₂ emissions and the economic growth. Based on the environmental Kuznets curve (EKC) framework, it will assess the causal relationship between economic indicators such as gross domestic product (GDP) per capita, trade openness and energy use and environmental indicators such as CO₂ emissions.

The analysis relies on a period of 40 years (1981–2020) where data is extracted from the World Bank database. This study uses the unit root test for time series stationarity, the optimal lag length test, the “Johansen” test for co-integration and the vector error correction model.

The paper concludes to two major findings. On a short-term basis, CO₂ emissions and economic indicators are negatively correlated, whereas on a long-term basis, there is no association between CO₂ emissions and economic indicators in the UAE.

The research ends with important recommendations. It illustrates the importance of rationalizing the use of primary resources and the necessity to embrace successful and efficient policies in the energy production.

More specifically, UAE is urged to address the problem of CO₂ emissions in the electricity sector and increase awareness of the use of environmentally friendly processes in the transport and industrial sectors. While setting their economic agendas, UAE are encouraged to meet environmental criteria and invest in renewable energy projects such as “Shams 1”, the largest solar power plant outside of Spain and the USA.

The current study is significant in its research on the environmental impact of economic development, trade openness and energy use policies in the UAE. It uses CO₂ emissions as an environmental proxy and evaluates the environmental policies adopted in the UAE to reduce its impact.