Saffet Akdag, Hakan Yildirim, Andrew Adewale Alola
Environmental protection and tax policies are part of the crucial pillars and the evolving aspects of environmental sustainability drive. These policies are increasingly employed to counter the 21st century's global climate problem alongside providing economic relief for the implementing economies. Being on the frontier (i.e., the European Union [EU]) of these policies, the current study examines and compares the impacts of environmental protection expenditures and environmental tax on energy consumption on the ploy to mitigate greenhouse gas (GHG) emissions in the panel of EU member countries. With the use of system generalized method of moments and panel causality analyses, the study established the effectiveness of both environmental protection expenditure and environmental tax at improving environmental quality by respectively mitigating GHG emissions by elasticities of ~2.08 and ~0.18. Importantly, environmental protection expenditure is found to be about two times more effective at mitigating GHG emissions than environmental tax policy, thus providing a novel perspective in the literature. Moreover, energy intensity and Gross Domestic Product help to improve environmental quality by mitigating GHG emissions while population causes more pollutant effects. Additionally, the investigation reveals evidence of Granger causality from environmental protection expenditure to GHG emissions in seven of the EU countries and Granger causality from environmental tax to GHG emissions in 10 European countries. Notably, measurable dimensions of policy guidelines that are relevant for globally and/or nationally defined sustainable development goals are induced from the result of this investigation.
{"title":"Comparative benefits of environmental protection expenditures and environmental taxes in driving environmental quality of the European countries","authors":"Saffet Akdag, Hakan Yildirim, Andrew Adewale Alola","doi":"10.1111/1477-8947.12464","DOIUrl":"https://doi.org/10.1111/1477-8947.12464","url":null,"abstract":"Environmental protection and tax policies are part of the crucial pillars and the evolving aspects of environmental sustainability drive. These policies are increasingly employed to counter the 21st century's global climate problem alongside providing economic relief for the implementing economies. Being on the frontier (i.e., the European Union [EU]) of these policies, the current study examines and compares the impacts of environmental protection expenditures and environmental tax on energy consumption on the ploy to mitigate greenhouse gas (GHG) emissions in the panel of EU member countries. With the use of system generalized method of moments and panel causality analyses, the study established the effectiveness of both environmental protection expenditure and environmental tax at improving environmental quality by respectively mitigating GHG emissions by elasticities of ~2.08 and ~0.18. Importantly, environmental protection expenditure is found to be about two times more effective at mitigating GHG emissions than environmental tax policy, thus providing a novel perspective in the literature. Moreover, energy intensity and Gross Domestic Product help to improve environmental quality by mitigating GHG emissions while population causes more pollutant effects. Additionally, the investigation reveals evidence of Granger causality from environmental protection expenditure to GHG emissions in seven of the EU countries and Granger causality from environmental tax to GHG emissions in 10 European countries. Notably, measurable dimensions of policy guidelines that are relevant for globally and/or nationally defined sustainable development goals are induced from the result of this investigation.","PeriodicalId":49777,"journal":{"name":"Natural Resources Forum","volume":"7 1","pages":""},"PeriodicalIF":3.3,"publicationDate":"2024-04-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140637367","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In the context of China's market‐oriented transformation, the marketization of urban land transfer (MULT) plays an important role. However, the intrinsic link between MULT and carbon emissions remains unclear. This study aims to revise the assessment methodology of MULT using large‐scale land transaction record data and tested its impact on carbon emissions at the city level. The results indicate that the competitive bidding mechanism of MULT suppresses “bottom line” competition between local authorities and has beneficial effects on carbon emissions reduction. Further analysis shows that MULT has indirectly reduced carbon emissions by industrial structure optimization. The heterogeneity test showed that the effectiveness of MULT on carbon emissions varies significantly across cities with different levels of resource endowment and location. The lag effect test shows that MULT has a negative impact on carbon emissions in the current year and second year but is no longer significant in the third year. This research expands the understanding of the intrinsic link between institutional and sustainable development, providing new insights and policy rationale for mitigating the environmental crisis.
{"title":"How does the marketization of urban land transfer reduce carbon emissions? Insights from China","authors":"Yanjun Yang, Yang Yu","doi":"10.1111/1477-8947.12476","DOIUrl":"https://doi.org/10.1111/1477-8947.12476","url":null,"abstract":"In the context of China's market‐oriented transformation, the marketization of urban land transfer (MULT) plays an important role. However, the intrinsic link between MULT and carbon emissions remains unclear. This study aims to revise the assessment methodology of MULT using large‐scale land transaction record data and tested its impact on carbon emissions at the city level. The results indicate that the competitive bidding mechanism of MULT suppresses “bottom line” competition between local authorities and has beneficial effects on carbon emissions reduction. Further analysis shows that MULT has indirectly reduced carbon emissions by industrial structure optimization. The heterogeneity test showed that the effectiveness of MULT on carbon emissions varies significantly across cities with different levels of resource endowment and location. The lag effect test shows that MULT has a negative impact on carbon emissions in the current year and second year but is no longer significant in the third year. This research expands the understanding of the intrinsic link between institutional and sustainable development, providing new insights and policy rationale for mitigating the environmental crisis.","PeriodicalId":49777,"journal":{"name":"Natural Resources Forum","volume":"1 1","pages":""},"PeriodicalIF":3.3,"publicationDate":"2024-04-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140630474","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The present study aims to examine the impact of economic growth, economic uncertainty, health expenditure, environmental policy and life expectancy on human health in China through the application of simultaneous quantile regression analysis. The results of the study suggest that economic growth, environmental policy and life expectancy are found to have a positive and statistically significant impact on human health while economic uncertainty, health expenditure negatively impact human health in China. During periods of economic uncertainty, individuals tend to prioritise attending to immediate needs, potentially leading to a decrease in social cooperation and negative impacts on both physical and financial well‐being. The enhancement of financial development has the potential to stimulate investments in private sector health infrastructure, whilst policymakers can play a crucial role in augmenting public sector expenditure. In order to promote the improvement of human health and well‐being both domestically in China and internationally, it is imperative for authorities to give precedence to the implementation of sustainable environmental practises and allocate resources towards the development of healthcare infrastructure. These efforts should align with the objectives outlined in the Sustainable Development Goals (SDGs), with special emphasis on SDG 13, which pertains to climate action, and SDG 3, which focuses on good health and well‐being. The results of this study provide empirical evidence that lends support to the implementation of policies that aim to achieve a harmonious equilibrium between economic, environmental and health considerations, thereby fostering sustainable development and promoting equitable health outcomes.
{"title":"Time series approach to examine the impact of economic uncertainty, economic growth and financial development on human health","authors":"Meng Zhang, Yao Tian, Muhammad Kamran Khan","doi":"10.1111/1477-8947.12473","DOIUrl":"https://doi.org/10.1111/1477-8947.12473","url":null,"abstract":"The present study aims to examine the impact of economic growth, economic uncertainty, health expenditure, environmental policy and life expectancy on human health in China through the application of simultaneous quantile regression analysis. The results of the study suggest that economic growth, environmental policy and life expectancy are found to have a positive and statistically significant impact on human health while economic uncertainty, health expenditure negatively impact human health in China. During periods of economic uncertainty, individuals tend to prioritise attending to immediate needs, potentially leading to a decrease in social cooperation and negative impacts on both physical and financial well‐being. The enhancement of financial development has the potential to stimulate investments in private sector health infrastructure, whilst policymakers can play a crucial role in augmenting public sector expenditure. In order to promote the improvement of human health and well‐being both domestically in China and internationally, it is imperative for authorities to give precedence to the implementation of sustainable environmental practises and allocate resources towards the development of healthcare infrastructure. These efforts should align with the objectives outlined in the Sustainable Development Goals (SDGs), with special emphasis on SDG 13, which pertains to climate action, and SDG 3, which focuses on good health and well‐being. The results of this study provide empirical evidence that lends support to the implementation of policies that aim to achieve a harmonious equilibrium between economic, environmental and health considerations, thereby fostering sustainable development and promoting equitable health outcomes.","PeriodicalId":49777,"journal":{"name":"Natural Resources Forum","volume":"26 1","pages":""},"PeriodicalIF":3.3,"publicationDate":"2024-04-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140624532","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Institutional quality (IQ) would contribute to environmental sustainability and could be helping to verify the Environmental Kuznets curve in any economy. To test whether IQ is sufficient enough to control pollution in the most polluted economies, the present research investigates the effects of IQ on CO2 emissions controlling economic growth, globalization, and energy proxies in the models of the 33 most polluted countries from 1990 to 2021 by using cross‐sectional dependence techniques. The long‐run results corroborate the Environmental Kuznets curve in the sample countries. Moreover, clean energy reduces and fossil fuels increase CO2 emissions. Furthermore, globalization and regulatory quality reduce CO2 emissions. The short‐run findings also validate the long‐run results. In addition, we also find the bidirectional causality of CO2 emissions with economic growth, clean energy, fossil fuels, and globalization. Moreover, one‐way causality is found from CO2 emissions to regulatory quality and political stability. We recommend promoting trade globalization, clean energy usage, and regulatory quality to support environmental sustainability.
{"title":"Institutional quality and environmental sustainability nexus: Fresh evidence of most polluted countries in a CS–ARDL framework","authors":"Majed Alharthi, Muhammad Shahid Hassan, Jianjie Huang, Haider Mahmood, Hassan Arshad","doi":"10.1111/1477-8947.12471","DOIUrl":"https://doi.org/10.1111/1477-8947.12471","url":null,"abstract":"Institutional quality (IQ) would contribute to environmental sustainability and could be helping to verify the Environmental Kuznets curve in any economy. To test whether IQ is sufficient enough to control pollution in the most polluted economies, the present research investigates the effects of IQ on CO<jats:sub>2</jats:sub> emissions controlling economic growth, globalization, and energy proxies in the models of the 33 most polluted countries from 1990 to 2021 by using cross‐sectional dependence techniques. The long‐run results corroborate the Environmental Kuznets curve in the sample countries. Moreover, clean energy reduces and fossil fuels increase CO<jats:sub>2</jats:sub> emissions. Furthermore, globalization and regulatory quality reduce CO<jats:sub>2</jats:sub> emissions. The short‐run findings also validate the long‐run results. In addition, we also find the bidirectional causality of CO<jats:sub>2</jats:sub> emissions with economic growth, clean energy, fossil fuels, and globalization. Moreover, one‐way causality is found from CO<jats:sub>2</jats:sub> emissions to regulatory quality and political stability. We recommend promoting trade globalization, clean energy usage, and regulatory quality to support environmental sustainability.","PeriodicalId":49777,"journal":{"name":"Natural Resources Forum","volume":"16 1","pages":""},"PeriodicalIF":3.3,"publicationDate":"2024-04-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140615901","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Muhammad Imran, Md Shabbir Alam, Zhang Jijian, Ilhan Ozturk, Salman Wahab, Mesut Doğan
This study delves into the profound repercussions of the resource curse hypothesis within the Brazil, Russia, India, China, and South Africa (BRICS) nations from 1991 to 2022, examining the intricate interplay among natural resource abundance, energy consumption, and economic development (ED). Methodologically, it employs the cross‐sectionally augmented Dickey–Fuller test to assess stationarity and utilizes the Westerlund cointegration technique to analyze cointegration. Subsequently, the cross‐sectionally augmented autoregressive distributive lag model is deployed to explore the impact of natural resource availability, renewable and non‐renewable energy utilization, and carbon emissions on ED within these countries. The findings reveal a stark reality wherein both carbon emissions and non‐renewable energy consumption wield a consistently positive influence on short‐ and long‐term economic growth across the BRICS economies. Particularly striking is the dominant impact of non‐renewable energy consumption. However, this comes in stark contrast to the adverse effects identified with excessive resource and coal rents, signifying potential economic setbacks arising from rampant natural resource exploitation. Furthermore, the suboptimal utilization of renewable energy resources hints at a detrimental effect on ED. These results transcend the confines of developing nations, underscoring the universality of the resource curse hypothesis, affecting both developing and developed countries. The study illuminates the grave risks inherent in overreliance and overexploitation of natural resources, elucidating heightened competition that severely impedes the ED trajectory of the BRICS countries in both short and long terms. Policymakers must prioritize economic diversification, implement sustainable resource management, and invest in innovative technologies to mitigate the resource curse in BRICS nations, fostering resilience and sustainable economic growth. In conclusion, This study highlights the severe impact of the resource curse in BRICS nations, stressing the imperative for adept resource management to counter the risks linked with overdependence on non‐renewable resources and bolster sustainable economic growth.
{"title":"From resource curse to green growth: Exploring the role of energy utilization and natural resource abundance in economic development","authors":"Muhammad Imran, Md Shabbir Alam, Zhang Jijian, Ilhan Ozturk, Salman Wahab, Mesut Doğan","doi":"10.1111/1477-8947.12461","DOIUrl":"https://doi.org/10.1111/1477-8947.12461","url":null,"abstract":"This study delves into the profound repercussions of the resource curse hypothesis within the Brazil, Russia, India, China, and South Africa (BRICS) nations from 1991 to 2022, examining the intricate interplay among natural resource abundance, energy consumption, and economic development (ED). Methodologically, it employs the cross‐sectionally augmented Dickey–Fuller test to assess stationarity and utilizes the Westerlund cointegration technique to analyze cointegration. Subsequently, the cross‐sectionally augmented autoregressive distributive lag model is deployed to explore the impact of natural resource availability, renewable and non‐renewable energy utilization, and carbon emissions on ED within these countries. The findings reveal a stark reality wherein both carbon emissions and non‐renewable energy consumption wield a consistently positive influence on short‐ and long‐term economic growth across the BRICS economies. Particularly striking is the dominant impact of non‐renewable energy consumption. However, this comes in stark contrast to the adverse effects identified with excessive resource and coal rents, signifying potential economic setbacks arising from rampant natural resource exploitation. Furthermore, the suboptimal utilization of renewable energy resources hints at a detrimental effect on ED. These results transcend the confines of developing nations, underscoring the universality of the resource curse hypothesis, affecting both developing and developed countries. The study illuminates the grave risks inherent in overreliance and overexploitation of natural resources, elucidating heightened competition that severely impedes the ED trajectory of the BRICS countries in both short and long terms. Policymakers must prioritize economic diversification, implement sustainable resource management, and invest in innovative technologies to mitigate the resource curse in BRICS nations, fostering resilience and sustainable economic growth. In conclusion, This study highlights the severe impact of the resource curse in BRICS nations, stressing the imperative for adept resource management to counter the risks linked with overdependence on non‐renewable resources and bolster sustainable economic growth.","PeriodicalId":49777,"journal":{"name":"Natural Resources Forum","volume":"1 1","pages":""},"PeriodicalIF":3.3,"publicationDate":"2024-04-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140616051","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Musa Khan, Wu Chao, Muhammad Atif Khan, Mohammed Arshad Khan, Ahsanuddin Haider
Fostering sustainable development (SD) through the utilization of available resources, including natural resources, is a common global aspiration. This study delves into the intricate relationship between natural resource abundance (NRA), SD, and the moderating role of press freedom in this paradigm. Utilizing a comprehensive dataset spanning 109 countries from 2001 to 2020, we employed fixed effect regression and two‐step dynamic system GMM estimators. Our findings show that NRA has a negative impact on SD, posing a significant threat to the SD. We identify each individual type of natural resource that negatively influences SD, underscoring the need for sustainable management practices for these resources. On the other hand, press freedom is found to have a positive effect on SD, playing an influential role in promoting SD. The moderating effect of press freedom further emphasizes its vital role as a safeguard, mitigating the detrimental effects of resource abundance on the SD. Our study has important policy implications, suggesting that by adopting sustainable resource management practices and upholding press freedom, policymakers can pave the way for a more sustainable and environmentally responsible future.
{"title":"The role of natural resources and press freedom in sustainable development","authors":"Musa Khan, Wu Chao, Muhammad Atif Khan, Mohammed Arshad Khan, Ahsanuddin Haider","doi":"10.1111/1477-8947.12466","DOIUrl":"https://doi.org/10.1111/1477-8947.12466","url":null,"abstract":"Fostering sustainable development (SD) through the utilization of available resources, including natural resources, is a common global aspiration. This study delves into the intricate relationship between natural resource abundance (NRA), SD, and the moderating role of press freedom in this paradigm. Utilizing a comprehensive dataset spanning 109 countries from 2001 to 2020, we employed fixed effect regression and two‐step dynamic system GMM estimators. Our findings show that NRA has a negative impact on SD, posing a significant threat to the SD. We identify each individual type of natural resource that negatively influences SD, underscoring the need for sustainable management practices for these resources. On the other hand, press freedom is found to have a positive effect on SD, playing an influential role in promoting SD. The moderating effect of press freedom further emphasizes its vital role as a safeguard, mitigating the detrimental effects of resource abundance on the SD. Our study has important policy implications, suggesting that by adopting sustainable resource management practices and upholding press freedom, policymakers can pave the way for a more sustainable and environmentally responsible future.","PeriodicalId":49777,"journal":{"name":"Natural Resources Forum","volume":"48 1","pages":""},"PeriodicalIF":3.3,"publicationDate":"2024-04-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140615984","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Qing Yan, Yongpei Wang, Xin Zhang, Xiatian Du, Tianyi Huang
Against the background of unbalanced global energy distribution and increased exogenous shocks to energy trade, major countries bear special responsibilities for energy security and the achievement of greenhouse gas emission reduction under the Paris Agreement. Stabilizing energy supply chains and deploying renewable energy on a large scale are seen as fundamental ways to address both issues. To this end, this paper uses a sample of G20 countries covering the period 1980–2020 to estimate the links between energy import dependence, renewable energy deployment, and carbon emissions per capita. The results indicate that the energy import dependence of G20 countries can act as a combined brake on carbon emissions in large developed countries and emerging market countries, suggesting that global energy trade also has an additional role in reducing carbon emissions. Oil import dependence as one of the robustness check strategies further confirms these findings. The impact mechanism estimates imply that the channel for reducing carbon emissions of energy import dependence was to prompt countries to accelerate renewable energy deployment. Within the established framework of energy demand and economic growth, the universal deployment of renewable energy is a fundamental way to achieve environmental friendliness. These findings provide insights into multinational coordinated policies that ensure open and cooperative international energy markets and a transnational energy trading system that puts humanity on a path to global carbon neutrality.
{"title":"Energy import dependence, renewable energy deployment, and carbon emissions in G20 countries","authors":"Qing Yan, Yongpei Wang, Xin Zhang, Xiatian Du, Tianyi Huang","doi":"10.1111/1477-8947.12480","DOIUrl":"https://doi.org/10.1111/1477-8947.12480","url":null,"abstract":"Against the background of unbalanced global energy distribution and increased exogenous shocks to energy trade, major countries bear special responsibilities for energy security and the achievement of greenhouse gas emission reduction under the Paris Agreement. Stabilizing energy supply chains and deploying renewable energy on a large scale are seen as fundamental ways to address both issues. To this end, this paper uses a sample of G20 countries covering the period 1980–2020 to estimate the links between energy import dependence, renewable energy deployment, and carbon emissions per capita. The results indicate that the energy import dependence of G20 countries can act as a combined brake on carbon emissions in large developed countries and emerging market countries, suggesting that global energy trade also has an additional role in reducing carbon emissions. Oil import dependence as one of the robustness check strategies further confirms these findings. The impact mechanism estimates imply that the channel for reducing carbon emissions of energy import dependence was to prompt countries to accelerate renewable energy deployment. Within the established framework of energy demand and economic growth, the universal deployment of renewable energy is a fundamental way to achieve environmental friendliness. These findings provide insights into multinational coordinated policies that ensure open and cooperative international energy markets and a transnational energy trading system that puts humanity on a path to global carbon neutrality.","PeriodicalId":49777,"journal":{"name":"Natural Resources Forum","volume":"96 1","pages":""},"PeriodicalIF":3.3,"publicationDate":"2024-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140597278","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Rudra P. Pradhan, S. M. R. K. Samarakoon, Rana P. Maradana, Premjit Sahoo
We examine the factors that influence climate change disclosure and its effects on firm value in the context of Sri Lanka. By leveraging data spanning 1031 firm‐year observations from 2017 to 2022, an innovative machine‐learning technique is employed to quantify the level of climate change disclosure within annual corporate reports. Our findings indicate that factors such as firm size, size of the board of directors, the presence of independent and non‐executive directors on the board, and gender diversity of the board positively impact the extent of climate change disclosure. Notably, CEO duality, where the CEO and chairman roles are held by the same individual, demonstrates a negative relationship with climate change disclosure, suggesting that distinct roles can enhance transparency. This underscores the significant role of robust corporate governance practices in promoting environmental transparency and accountability. Additionally, the paper further assesses the implications of climate change disclosure on firm value, revealing that enhanced transparency in climate change disclosure positively impacts firm value.
{"title":"Climate change disclosure and firm value in a frontier market: Exploring the determinants","authors":"Rudra P. Pradhan, S. M. R. K. Samarakoon, Rana P. Maradana, Premjit Sahoo","doi":"10.1111/1477-8947.12462","DOIUrl":"https://doi.org/10.1111/1477-8947.12462","url":null,"abstract":"We examine the factors that influence climate change disclosure and its effects on firm value in the context of Sri Lanka. By leveraging data spanning 1031 firm‐year observations from 2017 to 2022, an innovative machine‐learning technique is employed to quantify the level of climate change disclosure within annual corporate reports. Our findings indicate that factors such as firm size, size of the board of directors, the presence of independent and non‐executive directors on the board, and gender diversity of the board positively impact the extent of climate change disclosure. Notably, CEO duality, where the CEO and chairman roles are held by the same individual, demonstrates a negative relationship with climate change disclosure, suggesting that distinct roles can enhance transparency. This underscores the significant role of robust corporate governance practices in promoting environmental transparency and accountability. Additionally, the paper further assesses the implications of climate change disclosure on firm value, revealing that enhanced transparency in climate change disclosure positively impacts firm value.","PeriodicalId":49777,"journal":{"name":"Natural Resources Forum","volume":"2 1","pages":""},"PeriodicalIF":3.3,"publicationDate":"2024-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140597405","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Green technology innovation (GTI) plays a pivotal role in improving environmental sustainability. Our study fills a significant research gap by investigating how globalization and natural resource depletion (NRD) impact eco‐innovation. Rooted in knowledge spillover and ecological modernization theories, we utilize advanced panel data techniques, an aspect underexplored in empirical studies. Our panel data span G20 countries from 1986 to 2019, further dissected into sub‐panels—BRICS (emerging economies) and G7 (advanced economies). Initial tests reveal cross‐sectional dependencies and slope heterogeneities across all panels, corroborated by Westerlund cointegration test indicating a long‐term equilibrium. Driscoll–Kraay estimator highlights that economic and social globalization significantly drive eco‐innovation, while political globalization deteriorates GTI. The effect of NRD is also negative for G20 and BRICS countries, while G7 economies exhibit lower vulnerability to NRD shocks. Long‐run estimates from CS‐ARDL underscore the positive role of economic globalization in both the short and long run, while the negative role of NRD remains persistent in the long run. Panel quantile regression results prove that the effect of globalization is asymmetric across GTI distribution and varying across underlying groups. NRD, while hindering progress at higher quantiles, supports eco‐innovation at lower quantiles of advanced economies. Panel threshold estimations confirm the positive influence of both globalization and NRD, particularly for highly eco‐innovative nations. These findings bear significant policy implications, charting a path toward sustainable economic growth through the widespread adoption of green technology.
{"title":"Exploring the nexus of globalization and natural resource scarcity in driving green technology innovation: Insights from advanced panel data techniques","authors":"Jianmin Li, Farzan Yahya, Muhammad Waqas","doi":"10.1111/1477-8947.12463","DOIUrl":"https://doi.org/10.1111/1477-8947.12463","url":null,"abstract":"Green technology innovation (GTI) plays a pivotal role in improving environmental sustainability. Our study fills a significant research gap by investigating how globalization and natural resource depletion (NRD) impact eco‐innovation. Rooted in knowledge spillover and ecological modernization theories, we utilize advanced panel data techniques, an aspect underexplored in empirical studies. Our panel data span G20 countries from 1986 to 2019, further dissected into sub‐panels—BRICS (emerging economies) and G7 (advanced economies). Initial tests reveal cross‐sectional dependencies and slope heterogeneities across all panels, corroborated by Westerlund cointegration test indicating a long‐term equilibrium. Driscoll–Kraay estimator highlights that economic and social globalization significantly drive eco‐innovation, while political globalization deteriorates GTI. The effect of NRD is also negative for G20 and BRICS countries, while G7 economies exhibit lower vulnerability to NRD shocks. Long‐run estimates from CS‐ARDL underscore the positive role of economic globalization in both the short and long run, while the negative role of NRD remains persistent in the long run. Panel quantile regression results prove that the effect of globalization is asymmetric across GTI distribution and varying across underlying groups. NRD, while hindering progress at higher quantiles, supports eco‐innovation at lower quantiles of advanced economies. Panel threshold estimations confirm the positive influence of both globalization and NRD, particularly for highly eco‐innovative nations. These findings bear significant policy implications, charting a path toward sustainable economic growth through the widespread adoption of green technology.","PeriodicalId":49777,"journal":{"name":"Natural Resources Forum","volume":"20 1","pages":""},"PeriodicalIF":3.3,"publicationDate":"2024-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140597599","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Joshua Chukwuma Onwe, Solomon Prince Nathaniel, Mohd Arshad Ansari
Information and communication technology (ICT), technological innovation, and renewable energy (REN) consumption have been proffered as solutions to the recent environmental tragedies in developed countries. In recent times, ICT diffusion and technological innovation have improved in G7 countries, but the same cannot be said of REN consumption. As such, this study examines the link between ICT, economic complexity, technological innovation, REN, and ecological footprint (EF) for G7 countries over the period 1990–2020. We use three variables (fixed telephone subscriptions [FTS], mobile cellular subscriptions [MCS], and individuals using the internet [IUI]) to represent ICT. The presence of cross‐sectional dependence guides the use of second‐generation econometric methods for slope heterogeneity, unit root, cointegration, and parameter estimation. The augment mean group (AMG) estimator and panel OLS techniques are applied to complement the method of moment quantile regression (MM‐QR) approach. The MM‐QR results suggest that REN consumption and technological innovation impede the EF across all quantile levels (0.1–0.9), whereas economic growth and economic complexity augment the EF in G7 countries. The ICT variables have heterogeneous effects on the EF, suggesting that the impact of ICT on the EF depends on the estimation techniques and proxy for the variable. In line with these outcomes, public policies directed toward funding technological innovation projects are recommended. The funding should specifically focus on environmentally friendly technologies that can guarantee complementarity between reduced environmental damage and increased economic growth.
{"title":"Toward sustainable climate action in advanced economies: Linking information communication technology, technological innovation, economic complexity, and ecological footprint","authors":"Joshua Chukwuma Onwe, Solomon Prince Nathaniel, Mohd Arshad Ansari","doi":"10.1111/1477-8947.12468","DOIUrl":"https://doi.org/10.1111/1477-8947.12468","url":null,"abstract":"Information and communication technology (ICT), technological innovation, and renewable energy (REN) consumption have been proffered as solutions to the recent environmental tragedies in developed countries. In recent times, ICT diffusion and technological innovation have improved in G7 countries, but the same cannot be said of REN consumption. As such, this study examines the link between ICT, economic complexity, technological innovation, REN, and ecological footprint (EF) for G7 countries over the period 1990–2020. We use three variables (fixed telephone subscriptions [FTS], mobile cellular subscriptions [MCS], and individuals using the internet [IUI]) to represent ICT. The presence of cross‐sectional dependence guides the use of second‐generation econometric methods for slope heterogeneity, unit root, cointegration, and parameter estimation. The augment mean group (AMG) estimator and panel OLS techniques are applied to complement the method of moment quantile regression (MM‐QR) approach. The MM‐QR results suggest that REN consumption and technological innovation impede the EF across all quantile levels (0.1–0.9), whereas economic growth and economic complexity augment the EF in G7 countries. The ICT variables have heterogeneous effects on the EF, suggesting that the impact of ICT on the EF depends on the estimation techniques and proxy for the variable. In line with these outcomes, public policies directed toward funding technological innovation projects are recommended. The funding should specifically focus on environmentally friendly technologies that can guarantee complementarity between reduced environmental damage and increased economic growth.","PeriodicalId":49777,"journal":{"name":"Natural Resources Forum","volume":"66 1","pages":""},"PeriodicalIF":3.3,"publicationDate":"2024-04-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140597582","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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