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Article
Publication date: 25 March 2022

Mohd Irfan and Raj Kumar Ojha

Higher economic growth accompanied by rising energy demand poses severe challenges to the long-term environmental sustainability of E7 economies, including Brazil, China, India…

Abstract

Purpose

Higher economic growth accompanied by rising energy demand poses severe challenges to the long-term environmental sustainability of E7 economies, including Brazil, China, India, Indonesia, Mexico, Russia and Turkey. Thus, this paper explores the influence of foreign direct investment (FDI) inflows on energy diversification for E7 economies.

Design/methodology/approach

The dataset is panel data for emerging seven (E7) economies, covering the period 1992–2017. The empirical investigation relies on econometric techniques: panel cointegration test and panel autoregressive distributed lag model.

Findings

The findings reveal that energy diversification and FDI inflows are cointegrated. In the long run, higher FDI inflows encourage energy diversification, but energy efficiency improvements discourage energy diversification. In the short run, the effects of FDI inflows on energy diversification vary across E7 economies, highlighting the role of country-specific factors in determining the short-run influence of FDI inflows on energy diversification.

Research limitations/implications

The findings suggested that FDI policies should encourage the adoption of nonconventional energy resources to stimulate energy diversification in E7 economies. Besides, better coordination between energy diversification and energy efficiency policies is required in the long run for a successful transition towards low-carbon economy goals.

Originality/value

This study is a unique empirical exercise that uncovers a cointegrating relationship between energy diversification and FDI inflows for E7 economies. Moreover, the analysis provides homogenous long-run and heterogeneous (country-specific) short-run coefficient estimates for the effect of FDI inflows on energy diversification.

Details

International Journal of Emerging Markets, vol. 18 no. 12
Type: Research Article
ISSN: 1746-8809

Keywords

Book part
Publication date: 20 November 2023

Diana Joiţa, Carmen Elena Dobrotă and Raquel Fernández-González

From the 1990s to the present, decision-makers around the world have sought to identify the most appropriate legal framework to support the energy transition. This research aims…

Abstract

From the 1990s to the present, decision-makers around the world have sought to identify the most appropriate legal framework to support the energy transition. This research aims to analyze the institutional dynamics of renewable energy promotion, focusing on regulatory aspects at the European and national level and emphasizing the case of Romania through several comparative approaches. In the context of the conflict in Ukraine, we focused on the issue of coal, which was reconsidered given the dependence of some European countries on this resource. The main research methods used in this study are comparative analysis and analysis of chronological information in a historical context, with correlations being made. The study was structured in three stages, the first from the 1990s until the European Energy Union formation, the second during the COVID-19 pandemic, and the third from the emergence of the conflict in Ukraine, which determined the recalibration of previously adopted measures. Starting from the hypotheses formulated and considering the regulatory scenario conducive to the transfer of public funds to achieve climate neutrality, the results of the study show the fact that, at this stage of the research, the states of the European continent are determined to fight for zero carbon by 2050. One result we found interesting is that almost a year after the outbreak of the conflict in Ukraine, less than a quarter of European states have moved past their assumed deadline for phasing out coal in the national mix.

Details

Digitalization, Sustainable Development, and Industry 5.0
Type: Book
ISBN: 978-1-83753-191-2

Keywords

Article
Publication date: 28 February 2023

Helen Dion and Martin Evans

The issue of energy efficiency is becoming increasingly prevalent globally due to factors such as the expansion of the population, economic growth and excessive consumption that…

1188

Abstract

Purpose

The issue of energy efficiency is becoming increasingly prevalent globally due to factors such as the expansion of the population, economic growth and excessive consumption that is not sustainable in the long run. Additionally, healthcare facilities and hospitals are facing challenges as their operational costs continue to rise. The research aim is to develop strategic frameworks for managing green hospitals, towards energy efficiency and corporate governance in hospitals and healthcare facilities.

Design/methodology/approach

This research employs a qualitative case study approach, with a sample of ten hospitals examined through interviews with senior management, executives and healthcare facilities managers. Relevant data was also collected from literature and analysed through critical appraisal and content analysis. The research methodology is based on the use of grounded theory research methodologies to build theories from case studies.

Findings

The research developed three integrated conceptual strategic frameworks for managing hospitals and healthcare facilities towards energy efficiency, green hospital initiatives and corporate governance. The research also outlined the concepts of green hospitals and energy efficiency management systems and best practices based on the conclusions drawn from the investigated case studies.

Research limitations/implications

The study is limited to the initiatives and experiences of the healthcare facilities studied in the Middle East and North Africa (MENA) region.

Originality/value

The research findings, conclusions, recommendations and proposed frameworks and concepts contribute significantly to the existing body of knowledge. This research also provides recommendations for hospital managers and policymakers on how to effectively implement and manage energy efficiency initiatives in healthcare facilities.

Details

Benchmarking: An International Journal, vol. 31 no. 2
Type: Research Article
ISSN: 1463-5771

Keywords

Article
Publication date: 15 April 2024

Anam Ul Haq Ganie and Masroor Ahmad

The purpose of this study is to assess the influence of institutional quality (IQ), fossil fuel efficiency, structural change and renewable energy (RE) consumption on carbon…

Abstract

Purpose

The purpose of this study is to assess the influence of institutional quality (IQ), fossil fuel efficiency, structural change and renewable energy (RE) consumption on carbon efficiency.

Design/methodology/approach

This research uses an econometric approach, more specifically the Autoregressive Distributed Lag model, to examine the relationship between structural change, RE consumption, IQ, fossil fuel efficiency and carbon efficiency in India from 1996 to 2019.

Findings

This study finds the positive contributions of variables like fossil fuel efficiency, technological advancement, structural transformation, IQ and increased RE consumption in fostering environmental development through enhanced carbon efficiency. Conversely, this study emphasises the negative contribution of trade openness on carbon efficiency. These findings provide concise insights into the dynamics of factors impacting carbon efficiency in India.

Research limitations/implications

This study's exclusive focus on India limits the generalizability of findings. Future studies should include a broader range of variables impacting various nations' carbon efficiency. Furthermore, it is worth noting that this study examines renewable and fossil fuel efficiency aggregated. Future research endeavours could yield more specific policy insights by conducting analyses at a disaggregated level, considering individual energy sources such as wind, solar, coal and oil. Understanding how the efficiency of each energy source influences carbon efficiency could lead to more targeted and practical policy recommendations.

Originality/value

To the best of the authors’ knowledge, this study addresses a significant gap in the existing literature by being the first empirical investigation into the effects of IQ, fossil fuel efficiency, structural change and RE consumption on carbon efficiency. Unlike prior research, the authors consider a comprehensive IQ index, providing a more holistic perspective. The use of a comprehensive composite index for IQ, coupled with the focus on fossil fuel efficiency and structural change, distinguishes this study from previous research, contributing valuable insights into the intricate dynamics shaping India's path towards enhanced carbon efficiency, an area relatively underexplored in the existing literature.

Details

International Journal of Energy Sector Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-6220

Keywords

Book part
Publication date: 20 November 2023

Grădinaru Giani-Ionel, Țiţan Emilia, Bătrîncea Ana-Maria and Mihai Mihaela

Technological progress is a determining factor in the factors leading to economic and social well-being. Simultaneously, the development of a sustainable economy is based on the…

Abstract

Technological progress is a determining factor in the factors leading to economic and social well-being. Simultaneously, the development of a sustainable economy is based on the conservation of resources. In the energy sector, this fact can be corroborated with the reduction of energy consumption, thus increasing economic efficiency. On the one hand, improving energy efficiency contributes to increasing the quality of life, productivity, and, implicitly, the economy, but on the other hand, it leads to excess energy use – this behavioral change is known as rebound. The research estimates the rebound effect at the macroeconomic level for European countries in the period 2000–2019, referring the analysis to each country's gross domestic product (GDP) and energy consumption, as well as comparing the preaccession and postaccession periods of Romania in the EU space. The rebound effect is determined using multidimensional analysis methods, depending on the GDP of each country as well as the behavior of each in the use of energy resources in industry, agriculture, and services. Although the study results confirm the strong link between energy consumption and GDP at the level of each state, they did not show considerable changes between countries at the level of the two periods.

Details

Digitalization, Sustainable Development, and Industry 5.0
Type: Book
ISBN: 978-1-83753-191-2

Keywords

Abstract

Details

A New Left Economics: An Economy with a Social Conscience
Type: Book
ISBN: 978-1-80455-402-9

Article
Publication date: 29 January 2024

Samuel Gyimah, De-Graft Owusu-Manu, David J. Edwards, Joseph Ignatius Teye Buertey and Anthony Kwame Danso

In recent times, both academics and industrialists have undertaken research into various areas of circular business models (CBM) in a bid to promote a green economy. Yet despite…

Abstract

Purpose

In recent times, both academics and industrialists have undertaken research into various areas of circular business models (CBM) in a bid to promote a green economy. Yet despite numerous studies conducted, the ensuing discourse contains scant information regarding the contributions of CBM towards the transition of green economy in the construction industry. This present study therefore aims to explore the contributions of CBM in the transition towards a green economy in the Ghanaian construction industry.

Design/methodology/approach

A comprehensive literature review was first conducted to identify the contributions of CBM towards the transition towards a green economy. A quantitative research strategy was then adopted to collect primary questionnaire data from professionals with knowledge of CBM and the green economy from 104 participants for the study. The data gathered was analyzed using descriptive statistics and exploratory factor analysis viz. Principal component analysis.

Findings

The contributions of CBM towards the transition towards a green economy were found to be: value contributions (i.e. lower carbon footprint, lower emission of waste by the industry, value creation for clients, innovation in construction materials and methods, reduced maintenance cost, creation of energy efficient infrastructures, improved value proposition for firms, improved sustainability of the industry and reduced pressure on finite resource.); green contributions (i.e. recycling and reuse of construction waste, promotion of green building technology, increased potential for economic growth, increased resource efficiency and creation of green building market) and longevity contribution (i.e. increased life span of buildings). It was evident that CBM make significant contributions in the transition towards green economy and as such, policymakers and other stakeholders within the construction industry must adopt these models to maximize their green credentials and accrue inherent benefits associated with transitioning towards a green economy.

Originality/value

This paper presents a novel and comprehensive study that explores the contributions of CBM towards engendering a green economy. The study’s results provide construction industry stakeholders and policymakers with clear insight into the contributions of CBM towards the transition into a green economy. In practice, this study provides much needed guidance to support construction practitioners to transition towards a green economy in alignment with the United Nations' Sustainable Development Goals (SDGs).

Details

Smart and Sustainable Built Environment, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2046-6099

Keywords

Article
Publication date: 27 November 2023

Marcellin Makpotche, Kais Bouslah and Bouchra B. M’Zali

The intensity of carbon emissions has led to the serious problem of global warming, and the consequences in terms of climatic disasters are gaining increasing attention worldwide…

Abstract

Purpose

The intensity of carbon emissions has led to the serious problem of global warming, and the consequences in terms of climatic disasters are gaining increasing attention worldwide. As the energy sector is responsible for most global emissions, developing clean energy is crucial to combat climate change. This study aims to examine the relationship between corporate governance and renewable energy (RE) consumption and explore the interaction between RE production and RE use.

Design/methodology/approach

The study adopts an econometric framework of a panel model, followed by the robustness check using alternative methods, including logit regressions. The bivariate probit model is used to analyze the interaction between the decision to use and the decision to produce RE. The analysis is based on a sample of 3,896 firms covering 45 countries worldwide.

Findings

The results reveal that appropriate governance mechanisms positively impact RE consumption. These include the existence of a sustainability committee; environmental, social and governance-based compensation policy; financial performance-based compensation; sustainability external audit; transparency; board gender diversity; and board independence. Firms with appropriate governance mechanisms are more likely to produce and use RE than others. Finally, while RE use positively impacts firm value and environmental performance, the authors find no significant effect on current profitability.

Originality/value

This study goes beyond previous research by exploring the impact of multiple governance mechanisms. To the best of the authors’ knowledge, this is also the first study examining the relationship between RE use and firm value. Overall, the findings suggest that RE transition requires, first of all, establishing appropriate governance mechanisms within companies.

Details

Corporate Governance: The International Journal of Business in Society, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1472-0701

Keywords

Open Access
Article
Publication date: 16 February 2024

Elvis Achuo, Pilag Kakeu and Simplice Asongu

Despite the global resolves to curtail fossil fuel consumption (FFC) in favour of clean energies, several countries continue to rely on carbon-intensive sources in meeting their…

Abstract

Purpose

Despite the global resolves to curtail fossil fuel consumption (FFC) in favour of clean energies, several countries continue to rely on carbon-intensive sources in meeting their energy demands. Financial constraints and limited knowledge with regards to green energy sources constitute major setbacks to the energy transition process. This study therefore aims to examine the effects of financial development and human capital on energy consumption.

Design/methodology/approach

The empirical analysis is based on the system generalised method of moments (SGMM) for a panel of 134 countries from 1996 to 2019. The SGMM estimates conducted on the basis of three measures of energy consumption, notably fossil fuel, renewable energy as well as total energy consumption (TEC), provide divergent results.

Findings

While financial development significantly reduces FFC, its effect is positive though non-significant with regards to renewable energy consumption. Conversely, financial development has a positive and significant effect on TEC. Moreover, the results reveal that human capital development has an enhancing though non-significant effect on the energy transition process. In addition, the results reveal that resource rents have an enhancing effect on the energy transition process. However, when natural resources rents are disaggregated into various components (oil, coal, mineral, natural gas and forest rents), the effects on energy transition are divergent. Although our findings are consistent when the global panel is split into developed and developing economies, the results are divergent across geographical regions. Contingent on these findings, actionable policy implications are discussed.

Originality/value

The study complements extant literature by assessing nexuses between financial development, human capital and energy transition from a global perspective.

Details

International Journal of Energy Sector Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-6220

Keywords

Article
Publication date: 12 December 2023

Samille Souza Marinho, Armando Gomes Rego Neto, Reimison Moreira Fernandes, André Cristiano Silva Melo, Leonardo dos Santos Lourenço Bastos and Vitor William Batista Martins

This study aims to identify sustainability indicators in the energy sector through a literature review and validate them from the perspective and context of professionals working…

Abstract

Purpose

This study aims to identify sustainability indicators in the energy sector through a literature review and validate them from the perspective and context of professionals working in the sector in an emerging economy country, Brazil, considering the relationship of these indicators with the achievement of the targets set by the United Nations sustainable development goals (UN SDGs).

Design/methodology/approach

To accomplish this, a literature review on sustainability indicators specific to the energy sector was conducted. Subsequently, a research instrument (questionnaire) based on the identified indicators was developed and a survey was administered to professionals in the field. The collected data were analyzed using the Lawshe method.

Findings

The results revealed 20 indicators, distributed across environmental, economic and social dimensions. Among these, nine indicators were validated, including global impacts, local impacts, renewable energy production as a percentage of total production, greenhouse gas emissions, access to electricity, investment in the energy sector, installed capacity in the electricity sector, energy prices in the end-use sector and energy distribution and conversion efficiency.

Originality/value

Consequently, it was possible to determine which SDGs are directly impacted and provide a foundation for future actions that can contribute to the sustainable advancement of the energy sector in emerging countries.

Details

International Journal of Energy Sector Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-6220

Keywords

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