How do renewable energy consumption, financial development, and technical efficiency change cause ecological sustainability in European Union countries?

IF 4 4区环境科学与生态学 Q2 ENVIRONMENTAL STUDIES

Energy & Environment Pub Date : 2022-06-26 DOI:10.1177/0958305X221109949

Zhang Zhen, Sami Ullah, Shaowen Zhan, M. Irfan

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引用次数: 17

Abstract

Achieving ecological sustainability is a critical issue of the current era, and researchers are striving to find viable solutions for sustainable development and ecological wellbeing. This study is an effort to examine the ecological consequences of renewable energy (REC), financial development (FD), and technical efficiency (TE) in 27 countries of the European Union (EU), time ranges from 1980 to 2018. We used second-generation econometric techniques to consider the cross-sectional dependency in the model and the CS-ARDL method to estimate the long-run dynamics of the variables. The Westerlund cointegration technique confirmed the long-run association among REC, FD, TE, and ecological footprint (EF). Furthermore, CS-ARDL results revealed a positive influence of FD on EF, indicating FD is a significant contributor to the ecological footprint of the EU. However, REC and TE promote ecological sustainability in the EU, as both factors negatively affect the EF. Furthermore, the interaction of FD and TE is also estimated to mitigate EF in sample countries. The study recommends that government policies in EU countries must be skewed towards promoting renewable energy usage, lending in green and energy-efficient technology, and technological advancement in the production process.

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可再生能源消费、金融发展和技术效率变化如何导致欧盟国家的生态可持续性?

实现生态可持续性是当今时代的一个关键问题，研究人员正在努力寻找可持续发展和生态福祉的可行解决方案。本研究旨在研究1980年至2018年期间欧盟27个国家可再生能源(REC)、金融发展(FD)和技术效率(TE)的生态后果。我们使用第二代计量经济学技术来考虑模型中的横截面依赖性，并使用CS-ARDL方法来估计变量的长期动态。Westerlund协整技术证实了REC、FD、TE和生态足迹(EF)之间的长期关联。此外，CS-ARDL结果显示，FD对生态足迹有正向影响，表明FD是欧盟生态足迹的重要贡献者。然而，REC和TE促进了欧盟的生态可持续性，因为这两个因素都对生态资源产生了负面影响。此外，估计FD和TE的相互作用也会减轻样本国家的EF。该研究建议，欧盟国家的政府政策必须向促进可再生能源的使用、绿色和节能技术的贷款以及生产过程中的技术进步倾斜。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Energy & Environment ENVIRONMENTAL STUDIES-

CiteScore

7.60

自引率

7.10%

发文量

157

期刊介绍： Energy & Environment is an interdisciplinary journal inviting energy policy analysts, natural scientists and engineers, as well as lawyers and economists to contribute to mutual understanding and learning, believing that better communication between experts will enhance the quality of policy, advance social well-being and help to reduce conflict. The journal encourages dialogue between the social sciences as energy demand and supply are observed and analysed with reference to politics of policy-making and implementation. The rapidly evolving social and environmental impacts of energy supply, transport, production and use at all levels require contribution from many disciplines if policy is to be effective. In particular E & E invite contributions from the study of policy delivery, ultimately more important than policy formation. The geopolitics of energy are also important, as are the impacts of environmental regulations and advancing technologies on national and local politics, and even global energy politics. Energy & Environment is a forum for constructive, professional information sharing, as well as debate across disciplines and professions, including the financial sector. Mathematical articles are outside the scope of Energy & Environment. The broader policy implications of submitted research should be addressed and environmental implications, not just emission quantities, be discussed with reference to scientific assumptions. This applies especially to technical papers based on arguments suggested by other disciplines, funding bodies or directly by policy-makers.