International Journal of Energy Economics and Policy

Implications of Machine Learning in the Generation of Renewable Energies in Latin America from a Globalized Vision: A Systematic Review

Hugo Gaspar Hernandez-Palma — 2024-03-15

The global energy industry fundamentally transformed towards renewable energy sources, driven by the sustainability paradigm. This shift was crucial in addressing the challenges of climate change and resource scarcity. Machine Learning (ML) played a pivotal role in enhancing the efficiency and reliability of renewable energy systems. This study conducted a comprehensive analysis of scientific production at the intersection of ML and renewable energy generation, focusing on Latin America. Employing a methodology based on documentary research and bibliometric processes, utilizing the Scopus database with the support of R and VOSviewer software, our research revealed a significant increase in interest and investment in research related to ML and renewable energies since 2020. This exponential growth scenario in this knowledge area had significant implications for Latin America and the world, fostering technological advancements and the adoption of renewable energies. Countries such as China, India, the United States, South Korea, and Saudi Arabia represented 61% of the global scientific production in this field, underscoring its global relevance. This growth indicated a growing interest and investment in ML applications in renewable energies, aligning with the 2030 Agenda for Sustainable Development. This research aligns with the Sustainable Development Goals (SDGs), particularly SDG 7 (Affordable and Clean Energy) and SDG 9 (Industry, Innovation, and Infrastructure). It contributed to progress toward a more sustainable future, benefiting society through more efficient and sustainable energy systems, the energy industry through increased innovation and the adoption of clean technologies, and Latin America, which could leverage these findings to sustainably drive its economic and environmental development.

Diagnosis of the Energy Regulatory Scenario with Emphasis on Smart Energy

Patricia Stefan de Carvalho — 2024-03-15

The energy management system has evolved into a digitized and autonomous environment, where consumers can manage their own generation, consumption and storage through virtual environments. Smart Energy (SE) understands this decentralized energy management by streamlining and helping in this matter, however, there is a need to regulate this scenario. Considering that the electric energy sector has a solid regulation, efforts need to be concentrated to adapt it to a model that emphasizes the SE and everything that it proposes. Therefore, the objective of this article is to propose a diagnosis of the current energy regulatory scenario directed to the SE. Through a focus group, experts from the energy sector contributed with opinions on the subject for the construction of a Current Reality Tree (CRT), which aimed to identify the root causes that affect and limit the energy regulation scenario SE-oriented. The current situation of this scenario was analyzed and what can be changed. 38 actions that contribute to the development and propagation of SE were suggested. These actions are guiding ways to regulate and enable the regulatory environment to support the insertion of technologies related to the theme.

Revisiting the relationship between Oil Price and Food Prices in the US: Evidence from Threshold Cointegration with Asymmetric Adjustment

Abderrazek Ben Hamouda — 2024-03-15

The main objective of this paper is to investigate the interaction between oil and food prices using threshold cointegration analysis. The study uses monthly data from January 1997 to September 2020. Empirical results reveal evidence of asymmetry in the adjustment process toward equilibrium. Uni-directional causality is detected between the variables, with oil prices causing changes in food prices. Additionally, oil prices are found to be cointegrated with food prices, suggesting the presence of an asymmetric adjustment mechanism. Specifically, the speed of adjustment to equilibrium varies depending on the sign of the last equilibrium error. The study recommends that policymakers should consider adopting measures that promote energy diversification, sustainable agricultural practices, and price stabilization mechanisms to mitigate the impact of oil price fluctuations on food prices and to enhance overall economic stability.

Carbon Emissions Accounting Disclosure: An Empirical Analysis during the Covid-19 Pandemic Period in a Developing Country

Maria Entina Puspita — 2024-03-15

Carbon emissions accounting disclosure (CEAD) is an interesting research area that is related to the increase in global warming that is being caused by the use of non-renewable energy. However, there has been no research that has tested the disclosure of carbon emissions during the COVID-19 pandemic using a comprehensive model. Apart from that, there is still limited previous research that focuses on developing countries where the use of fossil-based energy has become an important issue at the moment. In this sense, this study aims to contribute to CEAD by analyzing earnings management, corporate governance, and media exposure as determinants of CEAD in Indonesia, a developing country. The sample consists of 244 firm-year manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the 2020-2022 period. The test results, using partial least squares-structural equation modeling (PLS-SEM), indicate support for legitimacy theory, namely the view that corporate governance and media exposure have a positive effect on the level of CEAD. Drawn from the COVID-19 pandemic period, the empirical evidence from this study shows that the sample of manufacturing companies tended to carry out income-increasing earnings management and the disclosure of carbon emissions tended to be low.

Assessing the Stationarity of Per Capita Electricity Consumption: Time Series Analysis in ASEAN Countries

Samuel John E. Parreño — 2024-03-15

The stationarity of per capita electricity consumption has become a critical subject of research and policy consideration, with a wealth of literature exploring this aspect using diverse methodologies. This paper, however, differentiates itself by focusing exclusively on electricity consumption, a pivotal energy form, within the context of the ASEAN region. The stationarity or nonstationarity of electricity consumption has significant implications for energy management and policy formulation. A Kwiatkowski-Phillips-Schmidt-Shin (KPSS) unit root test with structural breaks was applied to data spanning from 1971 to 2014 for nine ASEAN nations, shedding light on distinct patterns. The majority of countries, including Indonesia, Thailand, Singapore, Vietnam, Malaysia, the Philippines, Myanmar, and Cambodia, exhibited nonstationary electricity consumption, suggesting susceptibility to prolonged fluctuations influenced by various structural factors. In contrast, Brunei displayed stationary electricity consumption, implying temporary effects of energy demand shocks. The policy implications are substantial. Nonstationary countries require flexible energy policies that address both immediate and long-term fluctuations in electricity consumption, especially in sectors like manufacturing, healthcare, and education, heavily reliant on electricity. Conversely, stable countries like Brunei should continuously monitor energy trends to make proactive policy adjustments.

Investigation of the Effect of Energy Consumption on Carbon Emissions in Azerbaijan in the Context of the Environmental Kuznets Curve

Nigar Huseynli — 2024-03-15

There is a close and mutual relationship between environmental problems and economics. While the increase in economic activities causes environmental problems, environmental problems negatively affect sustainable economic growth. The main purpose of this study is to empirically investigate the effect of energy consumption on carbon emissions in the context of the Environmental Kuznets Curve (EKC) hypothesis in the Azerbaijan economy in the period 1997-2021. Data between energy consumption per capita, income per capita and carbon emissions were included in the analysis. The determination of this relationship was investigated by the Granger causality method. As a result of the analysis, it is clear that the Environmental Kuznets Curve Approach is not valid for Azerbaijan.

Evaluating the Impact of Renewable Energy Policy Instruments on Capacity Expansion: Insights from the Visegrad Group Countries

Aigul Kurmanalina — 2024-03-15

Renewable energy technologies have reached a pivotal point, demonstrating cost competitiveness with traditional energy sources and a continuing trend of affordability. Nevertheless, the successful deployment of renewable energy capacity crucially depends on the efficacy of renewable energy policy tools, casting a veil of uncertainty over their actual influence on the expansion of renewable electricity generation. This research delves into the array of policy instruments designed to bolster renewable energy capacity. Employing an econometric analysis, this study meticulously examines these policy tools, with a particular emphasis on feed-in tariffs, quotas, tenders, and tax incentives, seeking to facilitate the adoption of renewable energy within the Visegrad group countries, comprising the Czech Republic, Hungary, Poland, and Slovakia. Drawing from a comprehensive panel dataset spanning the years from 1990 to 2020, our findings unveil a nuanced perspective on the effectiveness of these renewable energy policy tools. Notably, our results underscore the varying degrees of success among different policy instruments, all of which significantly contribute to the advancement of renewable energy sources. A key revelation arises from the limited impact of quotas, a frequently employed regulatory measure, in stimulating the expansion of renewable electricity generation capacity. In contrast, feed-in tariffs, tenders, and tax incentives emerge as potent drivers in achieving this pivotal objective. This research sheds light on the dynamic landscape of renewable energy policy instruments, offering valuable insights for policymakers and stakeholders engaged in advancing sustainable and resilient energy ecosystems in the Visegrad group countries and beyond.

Energy Consumption Behavior Analysis in the UAE Educational Buildings for Sustainable Economy: A Case Study of Ras Al Khaimah Schools

Khaled Hossin — 2024-03-15

Energy-saving in educational building has a significant contribution and a vital role in the economic and social development of nations. In this paper, the energy consumption of some educational buildings in the United Arab Emirates (UAE) are collected and analyzed. Four schools within the region of Ras Al Khaimah were selected to study their buildings’ energy consumption behavior. Key energy, economic and environmental parameters were calculated and investigated such as the total annual energy consumption, energy consumption per person, energy consumption per area, energy consumption by category (AC, lighting, other devices, etc.), energy cost, and the amount of greenhouse gas (GHG) emissions. A detailed energy audit was applied to one of the selected schools in order to identify the major areas of energy usage within the school, and to suggest the appropriate measures for potential energy and cost savings. Results revealed that total annual energy consumption of the investigated schools is very high with a range of 3700 - 3900 MWh. Significantly, in these hot climatic regions, AC systems alone accounts for over 80% of the overall annual energy consumption, standing out as the predominant energy consumers particularly during the summer months. The annual energy consumption per unit area was also excessive with values ranging from 200 to 500 kWh per m². Total annual cost of energy was relatively substantial for all schools with values in the order of 1.2 - 1.5 million AED ($330,000 - $400,000). The negative effects of the CO₂ emissions were estimated to be around 500 - 600 ton of CO₂/year per a single school.

Benchmark Prices and Iraqi Oil Prices: The Asymmetric Effects of Benchmark Prices on Three Iraqi Oil Blends

Volkan Kahraman — 2024-03-15

This paper examines the asymmetric effects of benchmark oil prices on the prices of the three major Iraqi oil blends (Basrah Light, Basrah Heavy and Kirkuk) using Kilian and Vigfusson's (2011) non-linear VAR specification. The empirical evidence reveals that a decrease in benchmark prices decreases Basrah Light and Kirkuk oil blends more than an increase in the benchmark increases the prices of these two Iraqi blends for the October 2002-October 2019 period. However, the asymmetric behavior of Basrah Heavy is the reverse for the April 2015-October 2019 period. Moreover, as the magnitude of the benchmark oil price shocks increases, the degree of asymmetry increases. This shows that Iraq cannot benefit from oil price increases and market developments for its two most important export blends: Basrah Light and Kirkuk.

Analyzing the Relationship between Renewable Energy Sources, Economic Growth and Energy Consumption in Greece

Bahman Huseynli — 2024-03-15

Renewable energy sources are one of the important economic factors of today. Energy resources have a great place for economic growth. There are many types of renewable energy sources, each of which is one of the indispensable elements for the development and development of countries. In this study, which measures the importance of energy consumption within the scope of economic growth and renewable energy, the effects of renewable energy sources and economic growth on energy consumption are investigated. In the study, the relationship between renewable energy sources, economic growth and energy consumption was examined by making panel cointegration analysis for Greece between 1997-2015. According to the results of the analysis, the panel data model established is significant at the 95% level. The independent factors explain 78% of the dependent variable's variation, according to R2. Energy consumption and renewable energy consumption were negatively correlated. A significant and positive relationship was found between economic growth and energy consumption at the 95% confidence level. An 1% increase in economic growth will increase energy consumption by about 15%. This result obtained because of the estimation also supports the theoretical expectation.

An Overview of Electricity Consumption in Europe: Models for Prediction of the Electricity Usage for Heating and Cooling

Ergun Yukseltan — 2024-03-15

Although aggregate electricity consumption provides valuable information for market analysis, demand composition, including industrial, residential, illumination, and other uses, and special days, such as national or religious holidays and annual industrial shutdowns, differ for each country. This paper analyzes the hourly electricity consumption of European countries in the European Transmission System Operation for Electricity (ENTSO-E) grid from 2006 to 2018. We propose an outlier detection method to identify special days and a modulated Fourier Series Expansion model to determine the breakdown of industrial versus household consumption and heating versus cooling consumption. The proposed outlier detection method uses the time series for each hour and checks whether a day has more than a threshold number of hours with exceptional electricity consumption levels. The proposed demand prediction model has a 3% average error when electricity usage for heating is not dominant. It also allows country classification based on consumption patterns to efficiently manage regional or country-based electricity markets.

Clustering of Companies Based on Sustainability Performance using ESG Materiality Approach: Evidence from Indonesia

Erwin Saraswati — 2024-03-15

The framework for environmental, social, and governance (ESG) disclosure has become crucial throughout the world. Globally, various ESG reporting frameworks have emerged, but there are still few companies in Indonesia that are involved in ESG. This research aims to develop an ESG performance assessment instrument based on material aspects of sustainability for all industries in Indonesia. The data was obtained by extracting 472 corporate sustainability reports in Indonesia during 2021 and ESG indicators were determined through focus group discussions and inter-rater reliability tests. The ESG performance assessment in this study adopted the methodology of the Refinitiv Institute and the ESG indicator weights were modified according to the new ESG indicators. A total of 65 ESG indicators were analyzed and these showed that the majority of companies in Indonesia have relatively satisfactory ESG performance and a moderate level of transparency in reporting important ESG data to the public. Cluster analysis with the K-means algorithm shows that each company needs to improve performance on at least one ESG pillar. The results of this research support the initiatives that have been taken by global regulators and stock exchanges to require companies to disclose ESG information in the future.

The Effect of Energy Production and Foreign Trade on the Economic Growth of Turkic Republics: A Study Using Panel Data Analysis Method

Aizhan Ibyzhanova — 2024-03-15

This study analyzes the impact of energy production and foreign trade on the economic growth of the Turkic Republics using the Panel Data method for the period 2000-2020. Previous scientific studies have shown that many different variables impact economic growth. This study, unlike others, focuses on the effect of energy production and foreign trade volume on economic growth. The findings showed that energy production affects the economic growth of Turkic Republics. Another important finding is that the effect of foreign trade volume on economic growth is not significant when exports and imports are considered together. This is noteworthy as it shows that energy production invariably has a significant impact on the economic growth of a country. In other words, it would be a beneficial approach for a country to give importance to energy production to increase economic growth.

Analysis of the Main Social Macroeconomic Indicators of the Population During The oil Boom in Azerbaijan

Sugra Ingilab Humbatova — 2024-03-15

Indicators directly related to the economies of oil−exporting countries, and especially the socio−economic well−being of the population, depend on the resource potential and prices for resources of these countries. The income of the population, their average monthly salary, the average amount of monthly pensions, the average amount of old−age pensions, the average amount of disability pensions, the amount of pensions for the loss of the head of the family form the basis of the state of financial well−being. Taking them as a basis, we completed the goal of our research by constructing models that determine the dependence of the main indicators of the socio−economic and, of course, material well−being of the population of Azerbaijan on world oil prices. The study covers the years 1997−2022. The and models are adapted to determine long−term and short−term levels of these indicators, taking into account world oil prices. According to the results, a high level of co−integration relationship with world oil prices and socio−economic indicators of the population is noted. This has also been proven in the short term. Thus, the alternative , , , and models used to validate these results further demonstrated the importance of these interactions. Moreover, the study also conducted a combined Bayer−Hank co−integration test. But the results turned out to be somewhat different. The results of this study can be taken into account to one degree or another in the socio−economic policy of the state in Azerbaijan.

Electric Vehicle Revolution in India: A Comprehensive and Comparative Study of Ev Business in India

Gajanan B. Haldankar — 2024-03-15

There has been a growth of Electric vehicles all over the globe due to reasons like air pollution, environmental impact, and climate change. This paper aims to study the growth of EV business in India. The study is based on secondary data collected for EV two-wheelers, three-wheelers, and four-wheelers, major market players of EV, petrol, and diesel vehicles. Tools such as Kruskal Wallis, and DSCF pairwise comparisons have been employed using Jamovi statistical software to analyse and understand the growth of EVs in India. The result of the study shows that India's EV market has seen significant growth in recent years, with a shift towards EVs and an increased focus on sustainability. While the share of EVs is currently marginal, it is expected to surpass petrol and diesel vehicles in a few decades. EV 2W is leading the market followed by EV 3W and EV 4W in India.

A Slight Look Environmental Disclosure Score Trends during Covid-19 Outbreak: What’s Driver the Environmental Disclosure in Indonesian Mining and Manufacturing Companies

Indah Fajarini Sri Wahyuningrum — 2024-03-15

Amid growing environmental challenges and economic development in developing countries, companies must adopt robust environmental disclosure practices to fulfil their corporate responsibility. This study examines environmental disclosure trends from 2020 to 2022 during the COVID-19 pandemic, specifically focusing on the environmentally sensitive manufacturing and mining sectors selected through purposive sampling. A total of 40 company samples, encompassing 120 units of analysis, underwent analysis involving descriptive statistics, classical assumption tests, and multiple linear regression. The research explores the connection between various variables, such as company size, age, profitability, leverage, share ownership, and audit committee composition, and their impact on environmental disclosure practices. The findings reveal a rising trend in environmental disclosure among manufacturing and mining companies during the COVID-19 and post-pandemic period, increasing from 53.2% in 2020 to 60.8% in 2022. In 2022, the energy, industrial, and health sectors saw increased environmental disclosure, while the basic materials and cyclical consumer sectors decreased. Regression analysis shows that company size, profitability, and audit committees impact environmental disclosure, while company age, leverage, and foreign ownership have no discernible influence. This research provides valuable insights into environmental disclosure in Indonesia's manufacturing and mining sectors.

Nexus between Nuclear Energy, Economic Growth, and Greenhouse Gas Emissions in India

Asif Raihan — 2024-03-15

The escalating demand for fossil fuels in India has resulted in a significant strain on the environment due to the amplified emissions of greenhouse gases (GHGs). Nevertheless, India possesses a significant capacity for nuclear energy, as seen by its 22 operational nuclear reactors. This capacity holds promise for reducing GHG emissions. This research utilized a dataset spanning from 1969 to 2021 to examine the impact of nuclear energy utilization on GHG emissions. The study also aimed to verify the validity of the environmental Kuznets curve (EKC) hypothesis in India, employing the Autoregressive Distributive Lag (ARDL) model. The findings suggest that the EKC is applicable to India. Furthermore, it has been observed that a marginal increase of 1% in the use of nuclear energy leads to a reduction of GHG by 0.02% in the immediate term and 0.16% in the long term. This finding highlights the significance of expanding nuclear power as a crucial policy objective in order to attain environmentally friendly and sustainable economic development.

Are Trade Openness Drivers Relevant to Carbon Dioxide Emission? A Study of Emerging Economies

Shahida Suleman — 2024-03-15

This research is focused on an in-depth analysis of the trade drivers that influence trade openness and their impact on carbon dioxide emissions, with a concentrated examination of emerging economies from 1995 to 2020. This examination is contextualized within the scope of various trade and environmental theoretical frameworks. In our analysis, we employed a range of advanced panel regression methods, including stepwise regression for model selection, as well as Fully Modified Ordinary Least Squares (FMOLS), Panel Ordinary Least Squares (Panel OLS), and Fixed Effects Model (FEM). The long-term patterns were evaluated using Johansen co-integration tests. Additionally, the study delves into the causal links between carbon dioxide emissions and the key drivers of trade, employing Granger causality tests for this purpose. Our findings disclose a complex web of relationships, both in the short and long term, between trade openness and carbon dioxide emissions, influenced by several key factors: (i) net inflows of foreign direct investment, (ii) trade reserves, (iii) per capita income, (iv) exchange rates, and (v) gross national savings.

Technical and Financial Analysis for the Implementation of Small-scale Self-generation Projects, based on Grid-Tied Photovoltaic Solar Energy, for Residential Users under Colombian Regulations

Yecid Muñoz — 2024-03-15

The study focuses on integrating non-conventional renewable energy sources into Colombia's power system. The regulatory framework allows small prosumers to trade energy surpluses with grid operators. The research analyzes the financial feasibility of implementing photovoltaic systems for residential users. Technical aspects governing energy production and implementation costs are examined. Colombian residential users, divided into six socioeconomic strata, undergo individual analysis based on their energy rates and consumption patterns. The study area is Bucaramanga, known for intermediate solar potential. Precise cost estimates for implementing photovoltaic systems that meet user energy requirements are provided. Financial viability indicators (NPV, IRR, Payback Time) are evaluated for three scenarios: existing energy prices, 50% government financing, and a 10% tariff reduction due to government intervention. Results show financial viability for strata 4, 5, and 6, but not for strata 1, 2, and 3. Government intervention can make strata 2 and 3 feasible. Lowering the kWh price adversely impacts the project's financial feasibility for all strata, particularly the lower-income ones. The study is valuable for potential investors and policymakers seeking to promote photovoltaic systems in the residential sector. It provides insights into economic viability and helps develop effective policies for Colombia's sustainable energy transition.

Exploring the Relationship Between CO2 Emissions and Fuel Consumption in Road Transport: Empirical Evidence from Chad

Michel Boukar — 2024-03-15

Over the period 2008-2019, this study examines the linear impact of petroleum product (PP) consumption in Chad, PP prices, the vehicle fleet and urbanisation on CO₂ emissions on the one hand, and on the other, it determines the causal links that exist between the various variables studied. This study opts for the augmented Dickey-Fuller and Phillips-Perron tests to verify the stationarity of the variables. The ARDL model is then estimated and diagnostic tests are performed to confirm the validity of the model. To confirm the existence of long-term relationships, the bounds test was applied. Finally, the Toda-Yamamoto causality test was used to capture the influences present between the series under study. The main results show that, in the long term, a 1% increase in gasoline consumption would lead to a 1.03% increase in CO₂ emissions and the linear impact of diesel consumption is positive and insignificant on CO₂ emissions. In the short term, gasoline and diesel consumption have a positive and insignificant impact on CO₂ emissions. In terms of causality, there is a unidirectional causality from gasoline consumption to CO₂ emissions and a bidirectional causality between CO₂ emissions and diesel consumption. This study is the first to simultaneously link CO₂ emissions, PP consumption, PP prices, the vehicle fleet and urbanisation in general, and particularly in the case of Chad. It therefore adds to the literature on the simultaneous relationship between CO₂ emissions, PP consumption, the car fleet and urbanisation in a global and restricted context. This study could guide Chadian oil pollution management decision-makers in adopting policies related to the effects of PP consumption in the road transport sector.

Techno-economic Comparative Analysis of Floating/On-Ground Solar PV System for Electrification of Gilgel Gibe I Auxiliary Load in Ethiopia

Tefera Mekonnen — 2024-03-15

Ethiopia is well endowed with solar energy resources with daily average radiation ranging from 4.5 to 7.5 kWh/m²/day. The significant electricity consumption of the country is reliant on hydropower. This dependence on hydropower makes the country susceptible to weather and climate changes, such as droughts, which can lead to reduced water levels in hydropower reservoir and reduced electricity generation. The application of solar floating photovoltaic (FPV) in the existing hydro reservoir would provide solar electric power to support hydropower generation especially during dry periods, and decrease evaporation losses. This implementation also has the cascading effect of increasing the solar power generation from the PV system by reducing the panel temperature through efficiency gain while saving the land requirement for installing the same PV system. Especially for countries like Ethiopia where agriculture is the key source of economy, optimal usage of land is very important. Thus, in this research, a techno-economic comparative analysis of 4MW Grid-tied FPV and ground-mounted PV system on Gilgel gibe I reservoir in Ethiopia for supplying the auxiliary load of the generation plant is done. The results showed that the proposed FPV system has 6.9% more electricity generating capacity than land-mounted PV system and saves 74,400m³ of water from evaporation annually. The FPV plant will also save the land cost burden, and results the levelized cost of energy (COE) 0.043$/kWh, which is 15.7 % less than land-mounted PV systems. In another way, the proposed FPV system indicated a positive impact on the environment by reducing 993 tons of greenhouse gas emission annually. Thus this research results will offer a clear directions for the concerned stockholders to implement FPV technology on the Ethiopian hydro reservoirs.

An Assessment of the Economic Viability of Delivering Solar PV Rooftop as a Service to Strengthen Business Investment in the Residential and Commercial Sectors

Chavid Leewiraphan — 2024-03-15

The creation of significant power from PV technology has resulted from the growth of the solar PV business and industry and the lowering of PV costs. The electricity market is open broader for PV and other involved device technology. The goal of cumulative capacity drives Thailand's solar PV investment compass. The learning curve projection shows that the prediction's learning curve reliability can provide a clearer view for PV investment and policymakers. This paper shows the creation of the opportunity for the solar PV rooftop as a service (RaaS) business model, designed for four customers: residential and commercial, with small, medium, and large scales depending on their electricity consumption. The result reveals that if no grid is allowed, the medium- and large-scale are more likely to be feasible as they show grid parity. With the PV cost reduction trend, all the customers are economically viable in the grid sale allowed. Besides that, the electricity tariff rate from the grid also significantly impacts the PV rooftop investment and customer decision-making.

Does an Energy Company’s Sensitivity Affect its Performance?: Environmental, Social and Governance Analysis in Coal, Gas, Oil, and Basic Materials Industry Companies

Dedi Kusmayadi — 2024-03-15

This study aims to investigate the relationship between the types of energy companies, namely coal, gas and oil, and their performance levels. In addition, the influence of companies that have high sensitivity to the environment on company performance is also tested. Several important variables were also tested such as social activities, governance, as well as the type of energy company, namely coal, gas and oil. The research was conducted on energy companies and basic material industries listed on the Indonesia Stock Exchange from 2018 to 2021. The method used is multiple regression analysis with a data sample of 154 observations. Four models are used in measuring financial performance, namely ROA, ROE, NPM, and new reduced variables. It was found that environmental activities do not affect performance, including in companies that have high sensitivity. Likewise, social activities and corporate governance proxied by female directors, intensity of board meetings, and board education have no significant effect. On the other hand, liquidity has a positive effect on ROA, DER has a negative effect on ROE and performance reduction results. A unique finding shows that only coal companies have a positive relationship with the performance of companies in the energy sector.

Impact of Urbanization on Environmental Eminence: Moderating Role of Renewable Energy

Kusiyah Kusiyah — 2024-03-15

In the era of modernization, the movement of the multitude from rural to urban regions all over the globe is rising swiftly. This movement crafts so many socio-economic prospects for the masses. However, in chorus, it has made severe challenges for the eminence of the environment due to a decrease in forestation and the arrangement of more buildings and plants, causing CO2 emissions. It is unmanageable to edge the endurance of urbanization, and the issue is how we can switch its adversative effects on the environment. This study investigated the moderating role of renewable energy consumption in the urbanization-CO2 nexus. For this study, twenty-three of the most urbanized economies from around the world were chosen from 1997 to 2021. Three econometrics techniques are applied for empirical investigation: fixed effect model, robust least square and panel quantile regression with twelve model specifications. The dependent variable is carbon dioxide (CO2) emissions. The explanatory variables are gross fixed capital formation, patent application, inflation, financial development, industrial growth, urbanization and interaction term of renewable energy and urbanization. To check the robustness of empirical findings, we used four different proxies of (CO2) emissions and three different proxies of urbanization. In our empirical findings, patent application, inflation and industrial growth are positively and significantly associated with all proxies of CO2 emissions. While financial development is inversely and significantly allied with CO2 emissions. The impact of all proxies of urbanization is positive and significant on CO2 production. But the moderating effect of renewable energy on environmental depredation is inverse and significant. It suggests using clean and renewable energy and developing the financial sector to improve the eminence of the environment. Our research aligns with the sustainable development goals and the corporate social responsibility stream, making some valuable contributions to the body of previously established research.

Asymmetric Effect of Oil Price on Economic Activity: Evidence from Lebanon Using NARDL Model

Nour Fakhreddine — 2024-03-15

The aim of this paper is to investigate the impact of oil prices on the real economic activity of Lebanon, represented by the Gross Domestic Product (GDP) while controlling for inflation. For this purpose, this study employs a non-linear auto-regressive distributed lag model (NARDL) that enables to take into consideration the asymmetrical nature of the relationship between these two variables. The empirical findings confirm the asymmetric impact of changes in oil prices on economic activity. Notably, reductions in oil prices positively influence GDP in the long term and exert a more pronounced fluctuating effect compared to increases in oil prices, which are statistically insignificant. In other words, the country’s GDP, serving as a measure of the total value of finished goods and services, does not respond significantly to oil price rises but is influenced by oil price reductions. This empirical analysis focuses particularly on Lebanon, and time series data spanning from 1988 to 2021 are used to explore this relationship. This study guides Lebanon's policymakers, revealing the impact of declining oil prices on economic activity. It highlights growth opportunities amidst challenges like economic crises and corruption. Advocating for prudent policies and strategies, it offers a pathway for sustainable development.

Impact of Energy Usage, Economic Growth and Structural Industry Changes on Carbon Emissions in Bangladesh

Jeff Gow — 2024-03-15

This study examines the dynamic relationship between carbon (CO₂) emissions and energy usage, economic growth, and the changing industry structure in Bangladesh using annual time series data from 1972 to 2020. To this end, the ARDL Bound co-integration approach as well as the ECM method were employed to analyze the dynamics in the long and short run respectively. The findings reveal a strong positive long-run association between CO₂ emissions, economic growth, industry value added and GDP. For agriculture and services value added, no significant long-run relationship could be found. However, both industrial and service sectors show dynamism in the short run indicating that structural industry changes are already reducing CO₂ emissions. Thus, the pressing concerns regarding the increase in emissions and the imperative to achieve its growth potential, Bangladesh ought to foster innovative technological, economic, and social solutions that can harmonize energy-intensive development with a heightened emphasis on clean energy adoption, energy conservation initiatives, and efficiency enhancements.

Preference on Renewal Energy by Operators of Tourist Standard Hotels in Kathmandu, Nepal

Bhawani Ghimire — 2024-03-15

Although renewable energy sources are viable alternatives, their uptake by hotel owners is still uneven and frequently constrained. Preference mostly depends on the availability and cost of the renewal energy. This articles aimed to study; firstly, the operator’s preference, renewal energy pattern, renewable energy of tourist standard hotels in Kathmandu, Nepal; secondly, to find the barriers in using renewable energy ; third, to find out the expectation in policy reformation from the government to increase the use of renewal energy in the hotels. Data collected from 30 hotels through a convenience sampling method showed that preference for renewal energy is 80% for Electricity and 2% only for solar energy. Hotel operators agreed that using renewal energy in the hotel will save their time and cost, and expected the concessional rate as well as subsidy from the government on renewal energy with expectaton of policy reforms. All hotel operators mentioned that renewal energy like hydropower electricity was easily available and there were less barriers in use of renewal energy being in Capital City. However, barriers depends on the affordability, availability, geographical location also.Result may differ in different location. Only 2% preference for solar energy is good future research questions.

The Risk Transfer among Exchange Rates, Energy Commodities, and Agricultural Commodity Prices in SADC Countries

Nonelelo Vuba — 2024-03-15

This paper investigates the risk transfer between exchange rates, energy commodities, and agricultural commodity prices in SADC nations from July 29, 2007, to December 18, 2022. The Time-varying parameter Vector Autoregression connectivity technique is specifically used. The total connectivity index for the specific network of energy commodities, currency rates, and agricultural commodities is 24.39%. The energy commodities index (crude oil and heating oil) and the ZAR were the largest shock transmitters, according to averaged dynamic connectedness. In contrast, two SADC currency markets (MWK and MZN), natural gas, and corn were net shock recipients. Furthermore, overall connection indices were shown to change dramatically with high sensitivity to crisis events, particularly the 2007/2008 crisis and the COVID-19 pandemic. As indicated by net directional connection, most energy commodities, as well as the Rand and the Pula, were persistent net transmitters over time. This is especially noteworthy given oil's direct impact on agricultural commodities. The findings of this paper are useful for policymakers who are attempting to maximize public benefit. Policymakers charged with developing policies for economically vulnerable segments of the population should use these findings to examine the potential impact of changes in energy prices on food and currency markets.

Nigeria’s Volatile Oil Revenue: Is There a Cause for Concern?

Rotimi Ayoade Ogunjumo — 2024-03-15

This study, unlike previous studies, investigates the impact of volatile oil revenue on economic growth in Nigeria from 1986-2020. The study adopted the Auto-Regressive Distributed Lag technique (ARDL) to analyze the data. The results show that in the short-run, oil revenue volatility significantly depressed economic growth. In the long-run, however, oil revenue volatility improves economic growth in the country. The study therefore recommends that governments and policymakers in Nigeria should vigorously pursue policies that will reduce the reliance on oil revenue through greater economic diversification; otherwise economic growth may worsen in the short-run.

Carbon Management Accounting System and Corporate Environmental Performance: A Conceptual Framework

Hussein H. H. Sharaf-Addin — 2024-03-15

The growing concern over climate change and the need to address its effects has prompted industries and companies to prioritize reducing carbon emissions. This study proposes an effective Carbon Management Accounting System (CMAS) model that can lead to sustainable Energy Efficiency (ENEFF) and enhance Corporate Environmental Performance (CEP) through sustainable operations. The study extensively reviewed previous research and developed a conceptual framework for the relationship between CMAS, ENEFF, and CEP in the Malaysian Oil and Gas industry. The study also developed two research models extracted from the conceptual framework developed, which are: 1) a carbon management accounting model and 2) a corporate environmental performance model. By using these models, the study directly explores the relationship between CMAS and ENEFF and indirectly explores the relationship between CMAS and CEP through the mediating role of ENEFF. This study provides a foundation for future research to examine both models as an integrated approach to enhance ENEFF and overall CEP in the Oil and Gas industry.

Implications of Energy Consumption by Sector on Carbon Emissions in Saudi Arabia

Yousif Osman — 2024-03-15

The increasing global focus on sustainable development has attracted significant attention towards environmental issues. A crucial aspect of this emphasis is the aim to decrease energy consumption in order to minimize damage to the environment. However, discussions surrounding this subject have raised concerns. Sustainable development has gained considerable recognition among economists and policymakers due to its potential impact on productivity. Previous research primarily concentrated on overall energy consumption rather than analyzing specific sectors' energy usage and its effects on CO2 emissions. Particularly, there has been a lack of extensive research on the relationship between energy usage in sectors such as agriculture and transportation, and the resulting emission of CO2. Therefore, this study seeks to examine the impact of energy usage in Saudi Arabia's transportation, industrial, and agricultural sectors on CO2 emissions from 1979 to 2022. To analyze this correlation, the study utilizes the Autoregressive Distributed Lag (ARDL) technique. The findings indicate that the transportation sector has a greater influence on CO2 emissions compared to the industrial sector. Conversely, energy usage in the agricultural sector is found to contribute to a reduction in CO2 emissions. Informed by these findings, policymakers can implement policy interventions and measures to address the negative health effects resulting from environmental degradation. By targeting sectors identified as major contributors to environmental problems, strategies can be implemented to mitigate pollution, decrease exposure to harmful substances, and promote sustainable practices.

How Sustainable is Environmental Economics? A Review of Research Trends and Implications

Waleed Kalf Al-Zoubi — 2024-03-15

Embarking on a comprehensive review of the Environmental Economics literature, we employed a bibliometric approach to gather 6,118 articles published between 1993 and 2023 from Scopus-indexed journals. Leveraging various software tools, including RStudio, VOSviewer, and Excel, we analyzed the data to identify the most active scientific contributors in terms of countries, institutions, sources, documents, and authors. Our examination revealed a notable upward trend in publication starting from 2017, underscoring the increasingly diverse applications of Environmental Economics across domains such as Sustainability, Environmental Footprints, Carbon Emissions, Climate Impact, Navigating Environmental Governance, Policies for Sustainable Futures, Economic Approaches, and Environmental Sustainability. Notably, China, the United States, and the United Kingdom emerged as the top three contributors to the literature. The findings of our study offer valuable insights for market participants, particularly in understanding how Environmental Economics can inform their decision-making processes.

The Evolution of Commodity Trios Prices and Causality Equation: In Structural Break Perspective

Aynur Pala — 2024-03-15

This paper aims to examine the evolution of the commodity trios prices and relation among in structural break perspective for the period of 1991-2020. We used factor analysis, linearity, structural break, unit-root, cointegration tests and causality method were applied. Bai-Perron (2003) test results show industrial materials, energy and food price have one break at 2003, 2004, and 2005, respectively. To catch changing causality equation parameters clearly, it was used the moving sub-break range as 2003-2008. In post-break range, equation parameters obviously differed. In pre-break range, energy and food price have a in-directional effect on materials price, but, directional in post-break range. Lastly, in post-break range, the link among commodity trios have bi-directional relation between all commodity duos unlike pre-break range.

Emerging Trend and Causes of Discrepancy between Proposed and Actual Flows of Foreign Capital into Nepalese Energy Sector

Bashu Dev Dhungel — 2024-03-15

This paper aims to investigate the trend and causes of vast gap between actual and proposed FDI flows into energy sector by employing principal component analysis and one sample t test. Foreign direct investment is a main source of capital for the development of energy products in Nepal. Therefore, government of Nepal has emphasized to rise inflows of foreign capital to bridge the gap between demand and supply of capital in energy area. However, Nepal has received very small amount of actual FDI from the proposed FDI. It is found the increasing trend of FDI flows into energy sector after 2014/15 and risk factors of the country, market size, administrators’ quality, availability of physical infrastructure and public servant performance are the major factors causing the all proposed foreign capital do not actually flow into the energy sector. To minimize this divide, it is imperative to enhance country-risk factors. To narrow this gap, it is imperative to enhance country-risk factors and enhance the performance of bureaucrats in their specific domains.

The Relationship between Electricity Consumption and Economic Growth in BRICS Countries

Heru Wahyudi — 2024-03-15

This study analyzed the Gross Domestic Product (GDP) determinants in Brazil, Russia, India, China, and South Africa (BRICS). The method used in this study is a Fully Modified Ordinary Least Square (FMOLS) panel that can overcome the problem of non-stationary panels and the effect of heterogeneity between countries. The analysis range of this study is from 1992 to 2021, with three independent variables, namely electrical energy consumption, labor force, and gross fixed capital formation (GFCF) or investment. The results showed a significant favorable influence on energy consumption, labor force, and investment in GDP in BRICS countries from 1992-2021. This research resulted in a review of one of the policy recommendations to improve the economy in BRICS countries.

Exploring the Nexus between CO2 Emissions, Trade, and Sustainable Economic Growth: A Novel NARDL Approach

Muhammad Mohsin — 2024-03-15

This study investigates the nexus between CO₂ emission, trade, Gross domestic product (GDP), and tourism in Pakistan during 1990-2019. We examined the asymmetric relationship between CO₂ emission, international trade, Gross domestic product (GDP), and international tourism number of arrivals in Pakistan. Data Stationarity has been tested using the Augmented Dicky Fuller (ADF), Kwiatkowski-Phillips-Schmidt-Shin (KPSS), and Phillips-Perron (PP) tests for unit roots. We used the NARDL technique. Then a Granger Causality helped estimate the relationship between these environmental variables. If there is an asymmetric association between these variables, we estimate the non-linear auto-regressive distributed lag, which is the most applicable econometric estimate. The ARDL technique can potentially explore the dynamic nexus between CO₂ emission, tourism, GDP, and trade. Our findings suggest a dynamic relationship between tourism, trade, CO₂ emission, and GDP from Pakistan's perspective. The outcomes reveal that negative and positive shocks to trade, GDP, and tourism affect CO₂ emissions in the short and long term. The Granger Causality findings also determined that causality is directed from Tourism toward CO₂ emission, while unidirectional causality was found between CO₂ emission and tourism. In this study, the graphs of the CUSUM and CUSUMQ determined the functional stability of the established relationship. This indicates that this model is a suitable and valuable strategy tool. Therefore, an increase or decrease in the macroeconomic series will cause variation in carbon emissions in Pakistan in the long -term. The finding benefits macro-level policymakers and will provide important insight for the relevant stakeholders.

Clarifying the nexus between Trade Policy Uncertainty, Economic Policy Uncertainty, FDI and Renewable Energy Demand

Md. Qamruzzaman — 2024-03-15

: As the world becomes increasingly aware of the need to shift towards sustainable energy sources, China and the United States are two global superpowers leading this transition. With growing populations and increasing demand for energy, these countries have recognized the importance of renewable energy in meeting their needs while reducing carbon emissions. The motivation of the study is to evaluate the impact of trade policy uncertainty on renewal energy demean in the USA and China for the period 2000-2021 by employing linear and nonlinear assessment. The test statistics derived through the cointegration test by following Bayer-Hancked and Makki's cointegration established a long-run tie in the empirical equation. Moreover, the long-run linkage was revealed with symmetry and asymmetry investigation. Referring to the coefficients of linear assessment, the study established that uncertainties have a detrimental role in clean energy demand in the long- and short-run assessment. The asymmetric association between uncertainties and REC has been documented through the execution of a standard weld test with the null of symmetry. The directional causality test established a unidirectional linkage between trade policy uncertainty and REC [TPU<- ->REC], and a bidirectional linkage between economic policy uncertainty and REC [EPU<- ->REC].

The Impact of Perceived Value on Consumers’ Positive Word-of-mouth Intention Toward Energy-efficient Appliances

Bao Ngoc Le — 2024-03-15

This study examines the dimensions of consumer perceived value that contribute to customer satisfaction and lead to positive word-of-mouth intention regarding energy-efficient appliances. An online questionnaire was administered to 351 consumers of energy-efficient appliances in Vietnam. Structural equation modeling results reveal that three consumer perceived values (functional value, environmental value, and emotional value) have a positive impact on customer satisfaction, which in turn enhances consumers’ positive word-of-mouth intention. Moreover, this study revealed that the relationship between emotional value and customer satisfaction, as well as the relationship between environmental value and customer satisfaction, differs significantly between individuals with higher education levels and low education levels. The research findings contribute to the existing knowledge on pro-environmental behavior and relationship marketing. They also provide significant insights for policymakers, manufacturers and retailers in the energy-efficient appliances sector to encourage consumers to recommend energy-efficient products.

High-Technology Exports, Foreign Direct Investment, Renewable Energy Consumption and Economic Growth: Evidence from the United Arab Emirates

Saima Shadab — 2024-03-15

Various attempts have been made to undercover the relationship between the UAE’s economic growth, FDI, and renewable energy, with inadequate focus on the role of high technology exports in the UAE. This paper, therefore, examines the short and long-term relationship between high-technology exports, foreign direct investment, renewable energy, and economic growth in the UAE for the period 1991-2020. For this purpose, the autoregressive distributed lag bounds testing approach to cointegration has been employed in this study. The short and long-run empirics reveal a positive and significant relationship between high technology exports and the UAE’s economic growth. Conversely, a significant negative relationship exists between renewable energy consumption and economic growth. Among various important findings, the long-run causality results show a unidirectional causality exists from high-tech exports to the UAE’s economic growth. Further, a bi-directional causality exists between FDI and high-tech exports, that in turn promotes economic growth of the UAE. Based on the overall results, the study provides important policy recommendations.

Financial Innovation and Sustainable Development in Pakistan: An Empirical Study

Ihtisham ul Haq — 2024-03-15

Pakistan is facing several challenges including economic, social, energy and environmental. and is one of the most climate affected country. Henceforth, it is recommended to unearth the factors of sustainable development of Pakistan. This study explores the effect of financial innovation on sustainable development along with energy and trade openness as control variables. Results confirmed that long run relationship exists among the mentioned variables. Financial innovation is positively affecting sustainable development in long run as well as in short run. Likewise, energy is positively influencing sustainable development in both time spans whereas trade openness and energy only influence sustainable development in long run. Financial sector keeps on finding ways for innovation and utilizing fin-tech for ensuring and enhancing financial innovation. Government also must care and adopt policies that are encouraging financial innovation for to ensure sustainable development in Pakistan.

European Tourism Sector Development in the Context of Energy Uncertainty

Michaela Kocourková — 2024-03-15

The research is a novel to study the impact of energy uncertainty on international tourism receipt in 11 European countries namely Belgium, Croatia, Denmark, France, Germany, Greece, Ireland, Italy, Netherlands, Spain and Sweden due to availability of energy uncertainty index data recently developed by Dang et al. (2023). As econometric tool, we employ a Fully Modified Ordinary Least Squares (FMOLS) framework and include obtained long-run relations in a panel Vector Error Correction model (VECM). The findings suggest that 1% increase in energy uncertainty leads to 0.08% decrease in international tourism receipt in Europe. Moreover, international tourism receipt reaches the equilibrium with the adjustment speed of 23% annually. Regarding the effect of control variables, economic development has a negative relation whereas CO2 emissions and institutional quality have a positive association with international tourism receipt. As a policy implication, enhancing renewable energy is suggested to cope with energy uncertainty consequences that might affect tourism development.

The Nexus Between Remittances, Natural Resources, Economic Growth, Healthcare and Environmental Sustainability In CIS Countries

Bekhzod Kuziboev — 2024-03-15

Globally, the issues about sustainable development are on the increase, especially in emerging economies as CIS countries. Due to rising migration and remittances, natural resources are degraded, and economic expansion might pose serious challenges to the environment and healthcare. Thus, this research looks at how life expectancy is affected by economic growth, natural resources and carbon dioxide (CO2) emissions in 11 CIS countries (Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Ukraine, and Uzbekistan) by con-trolling energy consumption from 1990 to 2019. The Dumitrescu-Hurlin causality test discloses a cointegration between life expectancy, remittances, natural resources, economic growth, and CO2 Emissions. The empirical analysis indicates that life expectancy is positively correlated with re-mittances and GDP while water withdrawal and CO2 emissions have negative impact on life ex-pectancy in the case of CIS countries. Our empirical findings may provide insightful policy implications towards strengthening the public healthcare system. Therefore, appropriate policy responses can be developed towards advanced public healthcare and environmentally sustainable sources of energy in order to achieve the sustainable development goals.

Effectiveness of Random Forest Model in Predicting Stock Prices of Solar Energy Companies in India

Bharat Kumar Meher — 2024-03-15

The solar energy industry's positive impact on India's GDP is perceptible through increased investments, innovation, and enhanced energy security. As the nation continues to prioritize clean energy solutions, the solar sector stands as a key player driving both economic prosperity and environmental sustainability, aligning India with world wide determinations to battle climate change and encourage a greener future. As the Indian government continues to champion initiatives promoting renewable energy, Solar Energy Companies have seen unprecedented growth and have become increasingly attractive to investors seeking long-term, sustainable returns. This influx of interest, however, brings with it the challenge of navigating the volatile and dynamic nature of the stock market. In this context, forecasting the stock prices of solar energy corporations in India becomes a pivotal aspect of investment strategy for both institutional and retail investors. This paper targets to add to the prevailing body of knowledge by evaluating the efficacy of the Random Forest model, a machine learning technique known for its versatility and robustness, in forecasting the stock prices of top four Solar Energy Companies in India on the basis of market capitalization, by using the daily opening, high, low and closing stock prices ranging from 1^st October, 2019 to 30^th September, 2023 i.e. 4 years. The findings reveal that high Coefficient of Determination (R²) values for all companies, ranging from 0.9928 to 0.9939 is a clear indication of the model's ability to predict a substantial portion of the variance in each company's stock prices. But in case of Adani Green Energy Ltd a notably higher MSE and RMSE are exhibited, implying a greater degree of fluctuation in prediction accuracy compared to the other companies. On the other hand, all the selected solar energy companies display lower MAE values, indicating tightly clustered predictions around actual values.

Sustainable Development in Indonesia: A Study of Energy Consumption, CO2 Emissions, FDI, and Gross Capital Formation

Ahmad Farabi — 2024-03-15

The purpose of this study is to examine how the consumption of renewable and nonrenewable energy, CO₂ emissions, FDI, and gross capital formation affect the GDP per capita in the case of Indonesia. This study employs cointegration and ARDL to estimate the short and long-run coefficient which is preceded by ADF and PP unit root test using the annual time series data from 1960 to 2021. The result of the estimation shows that in the long run non-renewable energy consumption, CO₂ emission, and FDI impact the economic growth of Indonesia directly. Meanwhile, in the short run, the estimation result reveals that non-renewable energy and FDI are positive and statistically significantly affected the economic growth of Indonesia. Renewable energy hasn't yet been found to have a substantial impact on Indonesia's economic growth. This research offers novel perspectives on how nonrenewable and renewable energy consumption, CO₂ emissions, and FDI impact the economic growth. The findings provide valuable implications for Indonesia to develop long-term policies that can enhance the positive effects of energy consumption and CO₂ emissions on economic growth in the future. The involvement of FDI in the model also become the novelty of this study to examine the impact of FDI to economic growth.

The The Effect of Energy Security on Economic Growth in ASEAN During 2000–2020

Deni Kusumawardani — 2024-03-15

Energy is an important input for economic growth. The increase in non-renewable energy consumption has an impact on energy insecurity. This study aims to calculate energy security and analyze its effect on ASEAN economic growth during the 2000–2020 period. The method used in this study is the Principal Component Analysis to calculate energy security and the Feasible Generalized Least Square panel data regression to analyze its effect on economic growth. The authors use four dimensions to build an energy security index, namely availability, accessibility, acceptability, and efficiency. Several variables are included in the model, are capital, labor, trade, and world oil price. The results of this study indicate that the index and dimensions of energy security have a positive influence on ASEAN economic growth, except for the efficiency dimension. Capital. employment, trade, and oil prices have a positive influence on ASEAN economic growth. Regional Governments need to reduce the gap in the electrification ratio in several countries and build energy infrastructure. The government also needs to increase the application of energy diversification, increase renewable energy production and the need to pay more attention to environmental policies in economic activities.

Examining the Relationship between Inflation Instability and Ecological Footprint: Evidence from Turkey

Emrah Beşe — 2024-03-15

Sustainability is a preeminent global issue. This study delves into sustainability with an examination of the effect of inflation instability on ecological footprint per capita through financial development, economic growth, and energy consumption by using the ARDL model for Turkey for the period 1980 through 2015. The results of this study confirmed that financial development and inflation instability improve the environment insignificantly while economic growth does not significantly damage the environment. In addition, energy consumption is found to cause environmental degradation. Results of this study show that the main issue for Turkey is consumption rather than production. Suggested policy-making implications are provided in the conclusion.

Relationship between Energy and Economic Growth: Evidence from a Panel Nonlinear ARDL Model

Mounir Belloumi — 2024-03-15

In this article, we study the heterogeneous relationship among energy consumption and economic growth by incorporation gross fixed capital formation, foreign direct investment, international trade and finance development as control variables in a selected sample of 11 countries of the Middle East and North Africa over the period 1980-2020 using a panel nonlinear autoregressive distributed lag model. Empirical results show the presence of an asymmetric long run relationship between energy consumption and economic growth in the group of countries. The Pooled Mean Group estimates indicate that positive and negative changes in energy consumption have positive and significant effects on output growth in the long term, whereas both Mean Group and Difference Fixed Effect estimates report that only negative changes in energy consumption have positive and significant effect on long-term economic growth in the selected sample of countries. In addition, the short run individual effects of energy use on economic growth are positive and significant for only three countries (Jordan, Saudi Arabia, and Tunisia). These results are very important for the design of energy policies and sustainable economic growth. Energy-saving policies are suitable for long-run economic growth for the entire sample, while they are only suitable for eight countries out of eleven in the short-run.

The Effect of Environmental Taxes on Environmental Accounting Disclosure of Nigerian Oil and Gas Companies

Hussaini Bala — 2024-03-15

There is currently a lack of information about the contemporary and potential effects of environmental taxes on environmental accounting disclosure. This study, therefore, explores environmental taxes' impact on Nigerian oil and gas companies' disclosure of environmental accounting information. The study used auxiliary data by generating information on the outcome variable and the explanatory variable from the “Organization for Economic Cooperation and Development” (OECD) and annual reports and accounts of the oil and gas corporations in Nigeria. The analysis included thirteen (13) companies as of December 31, 2021. Fixed-effects regression using Estimation using Driscoll and Kraay standard errors (DKSE) has been used in this study. The study revealed that an increase in total green taxes or transportation taxes will stimulate the disclosure of environmental accounting information by the oil and gas corporations in Nigeria. It is also documented that oil and gas companies that have high C2 intensity are less likely to disclose environmental accounting information. The study findings will be useful to the regulators and policymakers in Nigeria. This is because if the government enhances environmental taxes, it may inspire companies to enhance their environmental accounting procedures.

The Unsustainable Path: Assessing Indonesia’s Reliance on Fossil Energy in Economic Growth

Sukanto Sukanto — 2024-03-15

Indonesia is the most energy-intensive country in Southeast Asia. Indonesia's energy consumption reaches 40 percent of the total energy consumption in the Southeast Asian region. This study aims to analyze the relationship between economic growth and energy consumption in Indonesia in 2000-2021. The variables used are oil and gas GDP, energy consumption, global price, net exports and imports, foreign investment, and domestic investment. The data used is obtained from macroeconomic data and requires stationarity testing. This study uses a quantitative research type to assess energy consumption and its relationship with oil and gas GDP in Indonesia with the Auto-Regressive Distributed Lag (ARDL) Model Approach. The results of this study indicate that increasing development and dynamic economic growth will be accompanied by increasing energy demand. The conclusion of this study is that the ARDL model estimation results show significant differences in the influence of variables on oil and gas GDP in Indonesia in the short and long term.

Accelerating Renewable Energy Integration in Energy Planning Considering the PV Techno-Economics and Hourly Profile, Case Study: Indonesian Power Sector

Ahmad Adhiim Muthahhari — 2024-03-15

In planning for the generation capacity expansion planning, it is crucial to consider the economics of scale and the availability of primary energy sources. Solar power generation or PV PP is a plant that is very dependent on the availability of solar irradiance and land. To achieve Net Zero Emission by 2060, the Indonesian government aims to increase PV capacity to 4.68 GW. To support the accelerated integration of PV power plants into the electrical system and fulfill economic and sustainable aspects, the ideal capacity of PV power plants needs to be considered. This study involves optimization and comparison with various scenarios to determine the optimal combination for PV power plant planning. In the optimization process, Mixed Integer Linear Programming (MILP) is used, assuming a load of 100 MW and various PV profiles. Based on the optimization results, to meet a 100 MW load, 138 MW of PV power plants are required, with a configuration of 125 MW for large-scale PV PP, 10 MW for medium-scale PV PP, and 3 MW for rooftop PV PP. The total cost needed is 11,445 thousand dollars, with an levelized cost of electricity (LCOE) of 4.75 c$/kWh. This value is significantly lower compared to other scenarios. To supply for 24 h, PV PP can utilize BESS, with an LCOE reaching 7.79 c$/kWh when optimal capacity and generation are achieved. The recommendation for determining the capacity of PV PP is to use the large-scale capacity scheme, both for daytime supply systems and for the 24-h scheme.

Sustainable Pathways: CO2 Emissions, FDI, Trade, and Energy in Post-Communist Economies

Lucie Tichá — 2024-03-15

This study explores the intricate interplay among CO2 emissions, economic development, foreign direct investment (FDI) inflows, trade, and energy consumption in post-communist republics spanning from 1995 to 2017. Utilizing a panel cointegration test, we unveil a profound and enduring relationship among these variables. Long-term elasticities are meticulously examined through Dynamic Ordinary Least Squares (DOLS) and Fully Modified Ordinary Least Squares (FMOLS) regressions, both of which consistently reveal a positive association between GDP per capita, FDI inflows, trade, energy consumption, and CO2 emissions per capita over the long term. Moreover, employing a panel causality test, our analysis identifies a robust unidirectional causality, specifically from CO2 emissions to energy consumption, signifying a pivotal link in the chain of influence (p<0.01). These findings shed light on the nuanced dynamics of CO2 emissions and their intricate connections with economic growth, foreign investments, trade, and energy usage in the post-communist context.

Photovoltaic Projects for Multidimensional Poverty Alleviation: Bibliometric Analysis and State of the Art

Leonarda F. C. Castro — 2024-03-15

Motivated by initiatives such as the UN Sustainable Development Goals (SDG), particularly SDG 1 - Poverty Eradication and SDG 7 - Clean and Accessible Energy, the search for solutions aiming to mitigate poverty has been recurrent in several studies. This paper main objective is to evaluate the dynamics of global research on the use of photovoltaic projects for poverty alleviation (PVPA) from 2003 to 2022. We use a bibliometric analysis to identify publication patterns and consequently list research trends and gaps of the area. A total of 336 publications from Scopus database are identified and complemented by a state-of-the-art study, where the articles are investigated and classified according to: business model and financing and evaluation of PVPA results. The results show that PA is often associated with PV power and its application in rural areas. “Biomass” and “application in developing countries” have become a trend. Urban areas application, aiming to reduce poverty, and the need for a synergetic integration of energy and urban planning, to mitigate the risks associated with energy flow and efficiency, are the most relevant gaps identified. Most of the publications focus on macropolicies effects involving PV technology; papers on projects construction and ex-post are not identified.

Analyzing the Impact of Governance, Environment and Trade on Inward FDI: A Case of Cambodia, Thailand and Vietnam from ASEAN

Farrukh Nawaz Kayani — 2024-03-15

The purpose of the study is to analyze the empirical link between governance, environmental quality, and trade as it relates to foreign direct investment in Cambodia, Thailand, and Vietnam for the period ranging from 1996 to 2022. Mixed order of integration (0 and 1) was discovered after applying four panel unit tests (IPS-W stat, ADF- Fisher, PP-Fisher, and LLC t). The Kao Residual Co-integration test was carried out to determine whether there was co-integration among the variables of the study. The results of the test demonstrated that some variables are, in fact, co-integrated during the investigation. The findings of unit root tests reveal the use of Panel ARDL, and the results demonstrate that governance has a positive overall effect on FDI. This is because tightening the control of corruption, improving regulatory quality, and strengthening the rule of law are all contributing to an increase in FDI in Cambodia, Thailand, and Vietnam. The study concluded that there is a link between a negative opinion of the efficacy of the government and foreign direct investment; however, this association did not reach the level of statistical significance required to be considered significant. To encourage FDI, trade also provides access to natural resources as the free flow of raw materials and intermediate goods is being supported by the initiatives connected to the promotion of FDI, which is made possible through trade.

Electricity Generation under the Climate Change Situation in Latin America: Trends and Challenges

José P. Undurraga — 2024-03-15

In a scenario of energy inequality, countries require stability for development and quality of life for their inhabitants. This paper addresses the reality of access to electrical energy and the effect of climate change on the potential of renewables to propose strategies related to generation and transmission in Argentina, Chile, Colombia and Paraguay. This is done by analysing quantitative and qualitative aspects of the electrical energy matrix: installed capacity and technology for generation and transmission together with the penetration of renewable energies. Among the results, actions address energy poverty, energy efficiency, smart investment in energy, and the readaptation of transmission infrastructure.

Time Frequency and Co-movements between Global Economic Policy Uncertainty, Precious Metals and Agricultural Prices: A Wavelet Coherence Analysis and Bootstrap Rolling Window Granger Causality

Riadh El Abed — 2024-03-15

Examining the links between economic uncertainty and precious metals allows us to explore the interconnectedness of various economic factors and their potential impact on markets, investments, and global trade. Precious metals such as gold and silver have historically been used as safe havens during times of economic uncertainty. Understanding how these metals interact with fluctuating economic policies can help assess their role as a safe haven and their importance to investors. Analyzing the links between precious metals, economic uncertainty, and agricultural prices can help policymakers design measures to mitigate negative impacts on the economy and foster financial and food stability. The main objective of this paper is to examine the co-movements between global economic policy uncertainty and each commodity such as oil, precious metals and agricultural prices. We employ two empirical approaches such as wavelet coherence and bootstrap rolling window Granger causality. The dynamic causality according to the bivariate framework between variables is analyzed. We used monthly data during the period span from January 2004 to September 2022. Empirical results indicate the evidence of unidirectional, bidirectional and absence of causality between variables. In addition the co-movements between GEPU and each variable are positive and negative.

Environmental Management Accounting Information and Environmental Performance, the Mediating Effect of Environmental Decision Quality

Mutasim Asa'd — 2024-03-15

In recent times, there has been a heightened focus from both governments and societies towards evaluating Organisations’ Environmental Performance (OEP). Environmental Management Accounting (EMA) is pivotal in elevating OEP as it offers a holistic perspective to elucidate the environmental impacts and associated costs of diverse business activities. This research delves into the dynamic interplay between EMA information and the OEP. The study entails the administration of a questionnaire to Jordanian organisations listed on the Amman Stock Exchange. The research adopts the Resource-Based View Theory. The study establishes statistically significant positive connections between these variables by employing partial least square structural equation modelling (SEM) for data analysis. Central to this investigation is identifying Environmental Decision Quality (EDQ) as a mediating capability. This capability is the mechanism for translating the relationship between EMA information and OEP. This finding underscores the pivotal role of in-formed decision-making in converting such information into tangible improvements in environmental performance. The research makes a notable contribution by expanding the understanding of EMA, highlighting its informational value beyond merely the practice considerations. Moreover, findings provide invaluable guidance for policymakers and regulatory bodies striving to promote sustainable business practices, especially pertinent in the context of developing nations.

Identifying Market Capitalization as a Leverage for Low Carbon Economy in Australia

Debaleena Chatterjee — 2024-03-15

This study explores the relationship between market capitalization of the top listed energy companies in Australia with their CO2 emission. The data is secondary in nature taken from World development indicators for annual records of Australia ranging from 2010 till 2022. The paper attempts to check similarities in the behaviour of the two variables through the prism of cointegration and VAR technique. Initial tests for stationarity are done through correlograms and unit root tests before applying Co-integration or VAR Approach. VAR was possible to apply due to stationarity achieved for both the variables in the same order of integration [1]. Final results suggest an untapped leverage in the form of market capital available to redirect the flow of financing towards green initiatives.

Relationship of Environmental Disclosure of Renewable Energy, Carbon Emissions, Waste Management, Water Consumption, and Banks’ Financial Performance

Yinka Lydia Emmanuel — 2024-03-15

In recent years, sustainable banking principles have been employed in the daily operations of deposit money banks in Nigeria. This study examines the relationship between environmental sustainability and the financial performance of 14 deposit money banks listed on the Nigerian Exchange Group. It focuses on the impact of environmental disclosure of renewable energy, carbon emissions, waste management, and water consumption (i.e. proxies for environment sustainability) on the bank’s return on assets (ROA i.e. proxy for financial performance). The research spans an 8-year period from 2013 to 2021, using panel data and multiple regression analysis to analyze the data. The data is collected from the annual reports of the deposit money banks listed on the Nigerian Exchange Group. The research design is ex-post facto, utilizing secondary data collection methods. The findings suggest that there is a positive but insignificant association between environmental sustainability indicators (renewable energy, carbon emissions, waste management, and water consumption) and financial performance (ROA). In conclusion, the study finds no significant relationship between and financial performance (ROA).

Modelling Stock Prices of Energy Sector using Supervised Machine Learning Techniques

Mimoun Benali — 2024-03-15

This paper aims at comparing the performance of the different state-of-the-art machine learning techniques in anticipating the performance of stock prices of the energy sector. The data collected cover the period from January 2020 to February 2023 with a daily frequency for the three most imported refined petroleum products in Morocco and trained four regression machines learning (linear regression, lasso regression, ridge regression, and SVR) and four classifiers machine learning (logistic regression, decision tree, extra tree and Random Forest) so that anticipating one day ahead prices direction can take place no matter whether they are negative or positive prices. The performance of regression algorithm is then evaluated using different evaluation metrics, especially MSE, RMSE, MAE, MAPE and R2 to evaluate the performance of regression algorithm while precision, recall and F1 scores are used to evaluate the performance of classifiers algorithm. The outcomes propose that the performance of linear regression and ridge regression takes place equally and outperform other single regression that is lasso regression and SVR for-one-day predictions as a whole. In addition to that, we have come to find that in the classifiers, algorithms group all machine learning display similar predictive accuracy, this is on one hand. On the other hand, the best of them is the logistic regression. In brief, this study suggests that all performance metrics are significantly improved by ensemble learning. Therefore, this study proves that critical information affecting stock movement can be captured by utilizing historical transactions.

Green Tech and Human Dynamics: Transforming Indonesia’s Waste Industry with VR, AR, and Renewable Energy Innovations

John Sihar Manurung — 2024-03-15

The objective of this study is to assess the impact of implementing virtual reality technology, augmented reality, renewable energy, and green leadership on industrial sustainability in waste management in Indonesia. Additionally, this study aims to examine the role of HR attitudes as a moderating variable in this context. The study focuses on leaders of large and medium-sized companies in Indonesia in 2022. The study examines several variables, including virtual reality, augmented reality, the application of renewable energy, and the application of green leadership. The study also considers exogenous variables such as industrial sustainability in waste management in Indonesia, and moderating variables such as HR behaviour. The data analysis employs SEM analysis using SMART PLS 3.0 software. The study methodology employed entails a quantitative descriptive approach utilising data analysis through the structural equation model (SEM) method. The data processing using the SEM method is conducted with the PLS application. Based on the findings of previous studies, it can be inferred that virtual reality, augmented reality, renewable energy, and green leadership have a partial impact on the sustainability of industrial businesses involved in waste treatment in Indonesia. Additionally, these variables also influence the behaviour of HR in responding to technological changes and the adoption of renewable energy in waste management companies in Indonesia. The variables of virtual reality, augmented reality, renewable energy, and green leadership have a simultaneous impact on the sustainability of industrial businesses involved in waste treatment in Indonesia. This impact is mediated by the HR behaviour in response to changes in technology adoption and the use of renewable energy in waste management companies in Indonesia. By implementing virtual reality and augmented reality technologies, as well as embracing the latest energy solutions and fostering a green leadership mind-set, companies can drive changes in human resource behaviour. This will enable employees to continuously adapt to technological advancements, particularly in smartphone applications, and leverage them to enhance existing businesses and ensure their sustainability. Moreover, the promotion of green energy will induce a shift in human resource practices towards consistently utilising eco-friendly energy sources and embracing sustainable leadership models within each organisation. This will ensure the long-term survival of the organisations and mitigate environmental harm caused by global warming.

Evaluating the Potential of Hydrogen Production from Agricultural Waste in Indonesia: A Comparative Techno-economic Analysis

Budhijanto Budhijanto — 2024-03-15

Hydrogen production from agricultural waste is a potentially established industry in Indonesia, and the government aims to introduce innovative technologies to produce hydrogen. This study aimed to explore the feasibility of hydrogen production from agricultural waste using three different methods: SCWG, fermentation, and gasification. The analysis focuses on comparing the price of hydrogen as a product by setting the same value of the IRR at 30%. The simulation was conducted by analyzing the capacity of hydrogen production at 3650 tons/year. The results of this study demonstrate that fermentation is the most feasible technology for producing hydrogen from agricultural wastes in Indonesia. In this technology, the price of hydrogen obtained was $5.65/kg, with a total capital investment (TCI) and production cost (TPC) of $10,756,132.97 and $13,977,351.97, respectively. Based on this simulation, the other parameter values, including NPV, ROI, and PoT, were $15,387,688.72, 68%, and 2.27 years, respectively. These results indicate that the establishment of hydrogen production in Indonesia using fermentation technology and agricultural waste is economically viable.

Energy Efficiency Measures in Public Sector: An Empirical Analysis of the Determinants of Adoption of Low-Cost Energy Efficiency

Mulyaningsih Mulyaningsih — 2024-03-15

This research delves into the intricate interplay between leadership styles, eco-innovation, and energy efficiency in the Indonesian public sector, examining the roles of green transformational leadership and ethical leadership. Acknowledging the pivotal role of public sector institutions in fostering sustainable practices, the study addresses the ongoing debate surrounding the efficacy of these leadership styles in the context of eco-innovation and energy efficiency. Using a quantitative research approach, data was collected from 227 faculty members across various Indonesian public sector institutions through a questionnaire. SmartPLS 4 software was employed for data analysis. The findings reveal that green transformational leadership positively influences eco-innovation, yet it does not directly impact energy efficiency. Conversely, ethical leadership does not directly drive eco-innovation but demonstrates a positive association with energy efficiency. Eco-innovation emerges as a direct contributor to energy efficiency. Significantly, the research identifies eco-innovation as a mediator between green transformational leadership and energy efficiency. However, this mediating effect is not observed in the relationship between ethical leadership and energy efficiency. The study underscores the need for leadership emphasizing environmental consciousness and ethics, coupled with the promotion of eco-innovation, to effectively attain sustainability and energy efficiency objectives within the Indonesian public sector.

The Role of Economic Policies to Adopt Renewable Energy and Digital Technology on Business Decisions and HR Management in the Indonesian Mining Sector

Nalom Siagian — 2024-03-15

The problem formulation that arises from this research is how the direct and indirect effects of renewable energy adoption variables and digital technology adoption affect the business decisions of mining companies in Indonesia with HR management variables as intervening variables. The subjects of this research are leaders in mining companies in Indonesia totaling 390 business units, where the variables in this study are independent variables, namely the adoption of renewable energy and the adoption of digital technology, while the dependent variable is the business decisions of mining companies in Indonesia, and the intervening variable is the HR management variable, where data analysis uses path analysis using Amos 22 software. The research method carried out is to use a quantitative descriptive approach by using data analysis with the path analysis method, where the results of data processing with the path analysis method are carried out with the Amos 22 application. From the results of this study, the conclusions that exist, namely partially the variable adoption of renewable energy and the variable adoption of digital technology, have a direct effect on the business decisions of mining companies in Indonesia. Renewable energy adoption variables partially also have a direct effect on HR management of mining companies in Indonesia, and HR management variables of mining companies in Indonesia have a direct effect on business decisions of mining companies in Indonesia. Simultaneously, the renewable energy adoption variable and the digital technology adoption variable indirectly affect the business decisions of mining companies in Indonesia through HR management as an intervening variable. With the process of adopting renewable energy and adopting digital technology, it will create changes to the business decision process carried out by the mining industry in Indonesia regarding HR management to become human resources capable of managing these changes. The government must carry out economic policies that support these changes, such as providing industrial incentives that are willing to change and adopt renewable energy and digital technology in order to compete and create products that are able to reduce the risk of climate change.

Economic Gains and Losses for Sustainable Policy Development of Crude Oil Resources: A Historical Perspective of Indian Subcontinent

Ali Raza — 2024-03-15

Energy fluctuations and global economic directly hit the Indian Subcontinent (Geopolitically, it generally includes the countries of Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka) economy and social welfare, which are the net importer of energy sources. This study investigates the relationship between strategic petroleum reserves and welfare losses for the Indian Subcontinent. The breakdown of the crude oil energy supply significantly impacts energy security & and welfare losses. Oil supply security was quantified in terms of the Indian Subcontinent's oil vulnerability index (which accounts for 84 percent of global oil imports), and welfare losses based on oil supply disruption were calculated. Afghanistan is the most susceptible country in the Indian Subcontinent regarding energy reserves, as per the composite index results, whereas India is the least vulnerable. Empirical findings pointed to a 30% oil supply deficit as the cause of the most volatile pattern of oil pricing, which exacerbates the estimated welfare loss by a 40% drop in GDP, which is around $700 in the Indian Subcontinent $9000 in the top oil-consuming countries. According to this analysis, the Indian Subcontinent should keep at least a hundred days' worth of strategic oil resources to avert social and economic losses due to oil price fluctuations.

Impact of, Human Capital, Economic Factors, Energy Consumption, and Urban Growth on Environmental Sustainability in Morocco: An ARDL Approach

Hamdi El Asli — 2024-03-15

This study aims to examine the impact of human capital, energy consumption, urbanization, growth, trade openness and foreign direct investment on Morocco’s environmental sustainability using annual data from 1970 to 2019 and, in light of, recommend policy implications. We used the ARDL approach to identify the potential linkage between carbon emissions and the explicative variables. The ADF unit root test is used to check the stationarity of all variables, showed that five of them become stationary after first differentiation. The result from the bound test indicated the existence of a long run relationship which confirmed the existence of co-integration with high speed of adjustment towards the long-run equilibrium. We found that increase in human capital leads to decrease in carbon emissions, meanwhile increase in both economic growth and energy consumption generate an opposite result, other things equal. Our finding validates the theoretical frame work involved in this study (STIRPAT: Stochastic Impact by Regression on Population, Affluence, and Technology, 1997) that confirms the possibility of promoting environmental sustainability through reducing carbon emissions, rationalizing energy consumption, reorienting economic growth into an eco-friendly model, building and enhancing human capital through education, besides working on rising economic openness and investment attractiveness of Morocco.

Interconnected Forces: Analyzing Urbanization, Economic Growth, Energy Consumption, and Forest Area in the Top 10 Populous Nations’ CO2 Emissions

Amin Pujiati — 2024-03-15

Economic progress is often seen as a means to enhance living standards, yet it often comes with an unintended consequence: a decline in environmental well-being. This research seeks to validate the Environmental Kuznets Curve (EKC) theory within the top 10 most populous nations and scrutinize the impact of urbanization, economic advancement, energy usage, and forest coverage on CO2 emissions. Utilizing data sourced from the World Development Indicator spanning from 2000 to 2019, this study employed a robust analytical approach known as the generalized method of moments (GMM) dynamic panel data, validated through Sargan and Arellano-Bond tests. The findings affirmed that economic growth, energy consumption, and forest area exerted significant influence on carbon dioxide emissions, aligning with the EKC hypothesis. However, contrary to expectation, urbanization didn't display a discernible impact on emissions, likely due to well-integrated transportation systems and higher educational standards prevalent in urban settings. This underscores the necessity for a sustainable economic growth strategy, advocating for industries with minimal pollution and eco-friendly products conducive to easy recycling. Furthermore, initiatives aimed at expanding forested areas should consider innovative techniques like vertical garden-based reforestation.

Prospects of Solar Energy Exploration in Nigeria: Assessments, Economic Viability and Hybrid System

Wasiu Olalekan Idris — 2024-03-15

The recent happenings in the world such as flood and wild forest fire were as a result of climate effect as being envisaged by scientists. It is urgent now to adopt a source of energy that will eliminate this effect on our universe. Solar energy is the major energy means that is abundant which could be utilized. In this review, the prospects of solar energy exploration were studied in Nigeria which include assessments, economic viability and hybrid systems. Findings show higher potential in the North as compared to the Southern region. Additionally, potential of offshore solar energy system was simulated by considering 2002 to 2021 data sets (20 years) from Era5-land base. Their monthly mean, seasonal changes and annual mean value were estimated. The algebraic annual solar radiance for 2002 and 2003 were highest valued at 34,914.732 kWhm^_2 while the least occurred in 2008 as 26,967.168 kWhm^-2. Suggestions were made due to the present status of solar energy utilization that will enhance its maximum usage and development. One of these is the establishment of a functioning financial scheme and the database for all renewable energy systems. When all these are put in place, the energy supply will increase, climate effect will be reduced, and the economy will be boosted.

Comparison and Implementation of Environmental Law Policies in Handling Climate Change in ASEAN Countries: A Comparative Study of Indonesia, Malaysia, and Thailand

Setyani Dwi Lestari — 2024-03-15

Addressing climate change is a global issue that requires collaborative efforts and effective policies. In the ASEAN region, countries such as Indonesia, Malaysia and Thailand have similar challenges in dealing with the impacts of climate change and promoting environmental sustainability. In this context, this study aims to compare the environmental law policies implemented by the three countries. This study uses a comparative method to analyze the differences and similarities of environmental law policies in addressing climate change in Indonesia, Malaysia, and Thailand. First, the national legal framework governing environmental protection and climate change will be analyzed. Next, specific policies that have been implemented to reduce greenhouse gas emissions, encourage renewable energy, and promote adaptation to climate change will be explored. Through this approach, this study is expected to provide a better understanding of the effectiveness of environmental law policies in addressing climate change in ASEAN countries. The results of this comparative analysis will provide insights into the successes and challenges faced by each country, as well as recommendations for future policy improvements. The findings of this research are expected to provide valuable inputs for policy makers, legal practitioners, and other relevant stakeholders in developing more effective strategies in addressing climate change at the national and regional levels. With a better understanding of comparative environmental law policies, ASEAN countries can learn from each other and work together to achieve common goals in facing the challenges of climate change.

Sustainable Development Goals and Energy Poverty Reduction: Empirical Evidence from N11 Countries

Ali Raza — 2024-03-15

This research aims to integrate the severity of energy poverty with a multidimensional indicator established using the GRA-SRA methodology. In this case study, N11 nations utilize data from 2001 to 2017 to create a multidimensional indicator of energy poverty by integrating 13 indicators for N11 nations (energy availability, energy cleanliness, and energy accessibility). This study combines the severity of energy poverty with a multidimensional indicator developed with the GRA-SRA approach. In this case study, N11 nations use data from 2001 to 2017 to build a multidimensional indicator of energy poverty by integrating 13 indicators for N11 nations (energy availability, energy cleanliness, and energy accessibility). South Korea discovered disparities in energy poverty among the N11 countries. It has steadily reduced its energy poverty, whereas Iran has experienced a reduction. Patterns of variation: This report also addresses global energy requirements for low-income people. According to the study, the type of energy utilized for heating is crucial in an environment of poverty and inequality. This study emphasizes the significance and use of cross-national comparisons. All locations share climate and other environmental characteristics. Energy poverty decreases as energy availability increases. Reduced energy poverty, on the other hand, leads to fewer economic disparities.

Does the Linkage between GDP, Renewable Energy, and Methane Validate the EKC hypothesis? Evidence from Indonesia

Mohamad Egi Destiartono — 2024-03-15

Is it feasible for Indonesia to sustain economic growth while simultaneously reducing methane emissions? This paper aims to unravel the Environmental Kuznets Curve (EKC) hypothesis for methane by integrating the role of renewable energy by employing annual data for the period 1990-2020. Autoregressive distributed lag (ARDL)-bounds testing is applied to estimate the dynamic and cointegration relationships. Also, this paper performs both traditional and breakpoint unit root tests. The EKC hypothesis is confirmed since there is an inverse U-curve nexus between GDP and methane per capita. The income turning point is 14,516 USD per capita. Indonesia’s income level is still below its estimated EKC threshold, implying that economic growth forces methane emissions to scale up. A 1% increase in GDP per capita leads to a 4.59% increase in methane per capita. However, renewable energy has a beneficial role in tackling methane emissions. A 1% increase in the share of renewable energy use leads to a 0.36% decrease in methane per capita. It is therefore recommended that to mitigate the damaging impact of economic growth, governments should enhance the share of energy use from renewable sources.