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1 – 10 of 794Alex Rialp-Criado, Seyed Meysam Zolfaghari Ejlal Manesh and Øystein Moen
This paper aims to elaborate on the crucial effects that a seemingly detrimental policy change in Spain has had on the international entrepreneurial activities of domestic…
Abstract
Purpose
This paper aims to elaborate on the crucial effects that a seemingly detrimental policy change in Spain has had on the international entrepreneurial activities of domestic renewable energy (RE) firms.
Design/methodology/approach
Primary data were collected from nine RE companies in Spain and then triangulated with secondary data and interviews from informants in other local institutions.
Findings
Domestic RE firms, due to an institutional scape driver action, reacted to an increasingly uncertain and generally more adverse renewable energy policy framework in this country by preferring to internationalise towards foreign markets that had lower political uncertainty than the domestic one.
Research limitations/implications
This paper complements previous research primarily on firm-specific factors that enhance internationalising firms’ survival and growth through a focus on the impact of a changing institutional-political environment at the home country-level.
Practical implications
Practitioners in the RE sector should analyse the risk of focusing only on the home market, as it can be too dependent on uncontrolled variations in domestic energy policy.
Social implications
The findings indicate that a more stable and supportive, long-term perspective in the domestic RE policy is essential for the sustained growth and development of this emerging industry.
Originality/value
To analyse the strategy by which a number of purposefully selected companies were able to use international expansion as a survival-seeking strategy against a drastic policy-level change in the domestic RE market.
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Mohammad Rifat Rahman, Md. Mufidur Rahman and Roksana Akter
This study aims to investigate the interplay between renewable energy development, unemployment and GDP growth within Bangladesh, India, Pakistan and Sri Lanka. The research…
Abstract
Purpose
This study aims to investigate the interplay between renewable energy development, unemployment and GDP growth within Bangladesh, India, Pakistan and Sri Lanka. The research underscores the significant role of renewable energy plays in stimulating economic growth and mitigating unemployment, offering crucial policy insights for sustainable growth in South Asia.
Design/methodology/approach
Utilizing the autoregressive distributive lag (ARDL) framework and Toda Yamamoto causality through the vector autoregressive (VAR) approach, the study analyzes the long-term and short-term impacts of these variables from 1990 to 2019.
Findings
This study reveals a significant co-integration among renewable energy consumption, unemployment and GDP growth in selected South Asian countries. The long-term estimation shows renewable energy consumption influences negatively economic progression in Bangladesh, with no notable correlation with unemployment. In contrast, Sri Lanka demonstrates an optimal relationship among all the variables. Short-run assessments reveal a significant positive relationship between renewable energy consumption and economic growth in India, while an inverse relationship is evident in Pakistan. Moreover, the relationship between unemployment and economic progression, the result shows a negative and significant relationship in India and Sri Lanka.
Research limitations/implications
The study emphasizes the need for policy development concerning renewable energy development, unemployment reduction and sustainable economic growth in South Asia. While limitations exist, future research can expand upon this work by incorporating varied data, additional countries or alternative modeling techniques.
Originality/value
This research offers a unique exploration into the multidimensional impacts of renewable energy consumption, unemployment and economic growth in the South Asian context, an area previously unexplored in such depth.
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Valtteri Kaartemo and Maria Alejandra Gonzalez-Perez
The purpose of this guest editorial is to introduce the special issue entitled “Renewable energy in international business.”
Abstract
Purpose
The purpose of this guest editorial is to introduce the special issue entitled “Renewable energy in international business.”
Design/methodology/approach
This paper presents a research agenda for the topic of the special issue and provides an overview of the articles included.
Findings
This guest editorial contains a discussion of the themes related to the topic, with a particular focus on the global production and adoption of renewable energies and dark sides of international renewable energy.
Research limitations/implications
This guest editorial considers how the articles included in the special issue contribute to research on renewable energy in international business and provides an avenue for future studies for a broader impact.
Originality/value
The discussion raises two important research streams that have remained overlooked in international business research, namely, global production and adoption of renewable energies and dark sides of international renewable energy. This guest editorial also highlights the potential of international business research to become more relevant by incorporating conceptual, methodological and empirical insights that inform the multidisciplinary community of renewable energy researchers.
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Yogeeswari Subramaniam and Nanthakumar Loganathan
Given the importance of green finance in a discussion of energy efficiency and clean energy, it is critical to evaluate its implications for the growth of renewable energy. This…
Abstract
Purpose
Given the importance of green finance in a discussion of energy efficiency and clean energy, it is critical to evaluate its implications for the growth of renewable energy. This study examines the impact of green finance on renewable energy development in Singapore.
Design/methodology/approach
The dynamic ordinary least squares (DOLS) regression was used in this work to test such a connection.
Findings
Using the DOLS for the period 2000–2020, it was discovered that green finance aids renewable energy development in Singapore. Additionally, the findings revealed that economic growth, oil prices, energy consumption, carbon dioxide emissions and institutional factors are all positively associated with renewable energy growth, resulting in a boost in renewable energy development.
Research limitations/implications
Hence, as a result, the monetary authorities of Singapore, such as financial institutions, non-governmental organisations and corporations, should prioritise renewable energy projects under green finance initiatives to boost renewable energy growth. This may assist in raising investment flows to green projects; hence, accelerating the adoption of renewable energy.
Originality/value
Increased Singapore's initiatives to accelerate green finance have prompted this study to examine the research question of whether green finance has a significant impact on renewable energy growth. Thus, to the best of the authors’ knowledge, this will be the first empirical study to explore the impact of green finance on renewable energy growth in the case of Singapore.
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Charikleia Karakosta, Alexandros Flamos and Aikaterini Forouli
The purpose of this paper is to identify knowledge gaps on insinuations of possible directions of European Union (EU) and international climate policies.
Abstract
Purpose
The purpose of this paper is to identify knowledge gaps on insinuations of possible directions of European Union (EU) and international climate policies.
Design/methodology/approach
This study has used participatory approach of highly experienced stakeholders’ engagement, involved directly or indirectly in the process of policymaking. A range of priority issues has been initially identified through desk analysis and key stakeholders have been selected and invited to partake in the process. Preliminary results have been validated through interaction with stakeholders during a series of workshops.
Findings
The results show the identification of a series of sectors, where climate policy is expected to focus in the future and the definition of 11 specific topics upon which knowledge gaps are expected to appear. Results on the identified knowledge needs are analysed and categorized by each prioritized main topic and compared with literature findings. Emphasis is identified to be placed on the topics of renewable energy, EU climate policy and international climate negotiations, which are the most popular ones, followed by energy policy and energy efficiency.
Originality/value
A key element of the approach is the consideration of key experts’ feedback on their specific area of expertise, instead of general public engagement, therefore leading to accurate results. Despite the fact that our approach was applied to a specific problem, the overall analysis could provide a framework for supporting applications in various problems in the field of priorities’ identification and even expanding to decision-making problems.
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Ademir M. Nascimento, Liguang Liu, João Ricardo Cumarú Silva Alves and Pierre Oriá
This paper seeks to analyze the relationship between China and the Northeast region of Brazil, aiming to identify how the renewable energy sector is being developed.
Abstract
Purpose
This paper seeks to analyze the relationship between China and the Northeast region of Brazil, aiming to identify how the renewable energy sector is being developed.
Design/methodology/approach
The authors analyzed secondary data from the official databases from China-Brazil chambers of commerce to establish the main points related to renewable energy in Brazil's Northeast.
Findings
It is possible to notice the main investments, highlighting the wind energy as a more prominent source recently. The authors also point the huge influence from China on Brazil's Northeast energy sector.
Research limitations/implications
It is difficult to identify the amount of Chinese capital due to the large number of mergers and acquisitions that has been taking place in recent years.
Practical implications
Identification of regions that have been receiving investments and the main interests of Chinese investors in the renewable energy sector.
Social implications
Demonstration of how the renewable energy sector has taken an important turn in Brazil due to Chinese investment.
Originality/value
To evaluate a regional consortium, analyzing its strategies for partnerships with China to help each other in global questions, as is the case of renewable energy.
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Maha Alsabbagh and Waheeb Essa Alnaser
This study aims to assess readiness for climate change mitigation in the Kingdom of Bahrain.
Abstract
Purpose
This study aims to assess readiness for climate change mitigation in the Kingdom of Bahrain.
Design/methodology/approach
Two stages were followed aiming at understanding the situation related to climate change mitigation in Bahrain and assessing the mitigation readiness. Baseline and mitigation scenarios for the period 2019–2040 were developed using the Low Emissions Analysis Platform software based on historical emissions and energy data for the period 1990–2018. Using the analytic hierarchy process, the mitigation readiness was assessed by 13 experts, and priority areas for mitigation action were identified.
Findings
CO2e emissions are projected to grow continuously. However, no explicit climate change strategy is in place yet. Mitigation is tackled implicitly through energy efficiency and renewable energy initiatives. These initiatives can make 23% reduction in CO2e emissions by 2040. Adopting additional measures is needed to achieve the recently set emission reduction target of 30% by 2035. The findings revealed potential areas for improving mitigation efforts in Bahrain. Priority areas for mitigation actions, as identified by experts, were mainly related to policy and governance. Focus needs to be paid to the social aspect of climate change mitigation.
Originality/value
Literature on mitigation readiness in developing countries is sparse. Knowledge of the requirements for climate change mitigation and assessment of the country’s performance can prioritize areas for improving mitigation action. Several lessons can be learnt from the case of Bahrain. In addition, the adopted methodology can be applied to other developing or Arab countries at local or institutional levels. However, its application to specific sectors may require adjustments.
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Anis Jarboui, Emna Mnif, Nahed Zghidi and Zied Akrout
In an era marked by heightened geopolitical uncertainties, such as international conflicts and economic instability, the dynamics of energy markets assume paramount importance…
Abstract
Purpose
In an era marked by heightened geopolitical uncertainties, such as international conflicts and economic instability, the dynamics of energy markets assume paramount importance. Our study delves into this complex backdrop, focusing on the intricate interplay the between traditional and emerging energy sectors.
Design/methodology/approach
This study analyzes the interconnections among green financial assets, renewable energy markets, the geopolitical risk index and cryptocurrency carbon emissions from December 19, 2017 to February 15, 2023. We investigate these relationships using a novel time-frequency connectedness approach and machine learning methodology.
Findings
Our findings reveal that green energy stocks, except the PBW, exhibit the highest net transmission of volatility, followed by COAL. In contrast, CARBON emerges as the primary net recipient of volatility, followed by fuel energy assets. The frequency decomposition results also indicate that the long-term components serve as the primary source of directional volatility spillover, suggesting that volatility transmission among green stocks and energy assets tends to occur over a more extended period. The SHapley additive exPlanations (SHAP) results show that the green and fuel energy markets are negatively connected with geopolitical risks (GPRs). The results obtained through the SHAP analysis confirm the novel time-varying parameter vector autoregressive (TVP-VAR) frequency connectedness findings. The CARBON and PBW markets consistently experience spillover shocks from other markets in short and long-term horizons. The role of crude oil as a receiver or transmitter of shocks varies over time.
Originality/value
Green financial assets and clean energy play significant roles in the financial markets and reduce geopolitical risk. Our study employs a time-frequency connectedness approach to assess the interconnections among four markets' families: fuel, renewable energy, green stocks and carbon markets. We utilize the novel TVP-VAR approach, which allows for flexibility and enables us to measure net pairwise connectedness in both short and long-term horizons.
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Jiandong Chen, Yinyin Wu, Chong Xu, Malin Song and Xin Liu
Non-fossil fuels are receiving increasing attention within the context of addressing global climate challenges. Based on a review of non-fossil fuel consumption in major countries…
Abstract
Purpose
Non-fossil fuels are receiving increasing attention within the context of addressing global climate challenges. Based on a review of non-fossil fuel consumption in major countries worldwide from 1985 to 2015, the purpose of this paper is to analyze trends for global non-fossil fuel consumption, share of fuel consumption and inequality.
Design/methodology/approach
The similarities were obtained between the logarithmic mean divisia index and the mean-rate-of-change index decomposition analysis methods, and a method was proposed for complete decomposition of the incremental Gini coefficient.
Findings
Empirical analysis showed that: global non-fossil fuel consumption accounts for a small share of the total energy consumption, but presents an increasing trend; the level of global non-fossil fuel consumption inequality is high but has gradually declined, which is mainly attributed to the concentration effect; inequality in global non-fossil fuel consumption is mainly due to the difference between nuclear power and hydropower consumption, but the contributions of nuclear power and hydropower to per capita non-fossil fuel consumption are declining; and population has the greatest influence on global non-fossil fuel consumption during the sampling period.
Originality/value
The main contribution of this study is its analysis of global non-fossil fuel consumption trends, disparities and driving factors. In addition, a general formula for complete index decomposition is proposed and the incremental Gini coefficient is wholly decomposed.
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Ziqiang Lin, Xianchun Liao and Haoran Jia
The decarbonization of power generation is key to achieving carbon neutrality in China by the end of 2060. This paper aims to examine how green finance influences China’s…
Abstract
Purpose
The decarbonization of power generation is key to achieving carbon neutrality in China by the end of 2060. This paper aims to examine how green finance influences China’s low-carbon transition of power generation. Using a provincial panel data set as an empirical study example, green finance is assessed first, then empirically analyses the influences of green finance on the low-carbon transition of power generation, as well as intermediary mechanisms at play. Finally, this paper makes relevant recommendations for peak carbon and carbon neutrality in China.
Design/methodology/approach
To begin with, an evaluation index system with five indicators is constructed with entropy weighting method. Second, this paper uses the share of coal-fired power generation that takes in total power generation as an inverse indicator to measure the low-carbon transition in power generation. Finally, the authors perform generalized method of moments (GMM) econometric model to examine how green finance influences China’s low-carbon transition of power generation by taking advantage of 30 provincial panel data sets, spanning the period of 2007–2019. Meanwhile, the implementation of the 2016 Guidance on Green Finance is used as a turning point to address endogeneity using difference-in-difference method (DID).
Findings
The prosperity of green finance can markedly reduce the share of thermal power generation in total electricity generation, which implies a trend toward China’s low-carbon transformation in the power generation industry. Urbanization and R&D investment are driving forces influencing low-carbon transition, while economic development hinders the low-carbon transition. The conclusions remain robust after a series of tests such as the DID method, instrumental variable method and replacement indicators. Notably, the results of the mechanism analysis suggest that green finance contributes to low-carbon transformation in power generation by reducing secondary sectoral share, reducing the production of export products, promoting the advancement of green technologies and expanding the proportion of new installed capacity of renewable energy.
Research limitations/implications
This paper puts forward relevant suggestions for promoting the green finance development with countermeasures such as allowing low interest rate for renewable energy power generation, facilitating market function and using carbon trade market. Additional policy implication is to promote high quality urbanization and increase R&D investment while pursuing high quality economic development. The last implication is to develop mechanism to strengthen the transformation of industrial structure, to promote high quality trade from high carbon manufactured products to low-carbon products, to stimulate more investment in green technology innovation and to accelerate the greening of installed structure in power generation industry.
Originality/value
This paper first attempts to examine the low-carbon transition in power generation from a new perspective of green finance. Second, this paper analyses the mechanism through several aspects: the share of secondary industry, the output of exported products, advances in green technology and the share of renewable energy in new installed capacity, which has not yet been done. Finally, this study constructs a system of indicators to evaluate green finance, including five indicators with entropy weighting method. In conclusion, this paper provides scientific references for sustainable development in China, and meanwhile for other developing countries with similar characteristics.
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