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16 pages, 629 KiB

Open AccessArticle

Does Chinese Foreign Direct Investment (FDI) Stimulate Economic Growth in Pakistan? An Application of the Autoregressive Distributed Lag (ARDL Bounds) Testing Approach

by Muhammad Salman Ahmad, Elżbieta Izabela Szczepankiewicz, Dai Yonghong, Farid Ullah, Ihsan Ullah and Windham Eugene Loopesco

Energies 2022, 15(6), 2050; https://doi.org/10.3390/en15062050 - 11 Mar 2022

Cited by 10 | Viewed by 3186

Abstract

The objective of this paper is to ascertain the impact of Chinese FDI on economic growth in Pakistan. This study documents the exploration of the determinants of economic growth in Pakistan by emphasizing the significant role played by Chinese FDI and investments in [...] Read more.

The objective of this paper is to ascertain the impact of Chinese FDI on economic growth in Pakistan. This study documents the exploration of the determinants of economic growth in Pakistan by emphasizing the significant role played by Chinese FDI and investments in renewable energy in particular. This paper employs time series data analysis to examine the relationship between GDP and Chinese FDI, inflation, trade openness, exchange rates, interest rates, remittances, and renewable energy consumption from 1990 to 2019. The study involved performing the ARDL bounds test, and it was determined that the dependent and independent variables are linked in the long term. Furthermore, the error correction model is negative and noteworthy, which checks the long-run relationship between variables. According to the findings of the autoregressive distributed lag (ARDL) model, Chinese FDI has a substantial favorable effect on Pakistan’s economic growth. Furthermore, renewable energy usage has a long-term favorable and significant association with Pakistan’s economic growth. This study established that FDI, and particularly renewable energy, will stimulate the economic growth of Pakistan. Our research has substantial policy implications, especially when it comes to the relationship between FDI and renewable energy. Full article

(This article belongs to the Special Issue Energy Policy for a Sustainable Economic Growth)

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14 pages, 9059 KiB

Open AccessArticle

A Resampling Slack-Based Energy Efficiency Analysis: Application in the G20 Economies

by Dan Wu, Ching-Cheng Lu, Pao-Yu Tang, Miao-Ling Wang and An-Chi Yang

Energies 2022, 15(1), 67; https://doi.org/10.3390/en15010067 - 22 Dec 2021

Cited by 3 | Viewed by 2320

Abstract

In order to have a sustainable economic and social development, it is important to balance economic growth and ecological environmental damage. In this article, we used the resampling model under the triangular distribution to evaluate energy efficiency, because the input/output value may have [...] Read more.

In order to have a sustainable economic and social development, it is important to balance economic growth and ecological environmental damage. In this article, we used the resampling model under the triangular distribution to evaluate energy efficiency, because the input/output value may have measurement errors, time lag factors, arbitrariness, and other problems, causing their own DMU to change. After these factors were taken into consideration, the resampled input/output was estimated because a super-SBM efficiency value was placed in the confidence interval. From the past-present data, for the estimated data change, the time weight was provided according to the Lucas series, and the super-SBM was time-weighted. We applied this model to a dataset of G20 economies from 2010 to 2014. To the best of our knowledge, very few studies have applied the DEA method with resampling to analyze energy efficiency. Thus, our study contributes to the methodologies for energy efficiency evaluation. We found that the overall average energy efficiency is 0.653, with substantial differences between developed economies and developing economies. The most important finding is that neither overestimation nor underestimation occurred when sampling was repeated one thousand times using 95% and 80% confidence intervals, confirming the robustness of the super-SBM model. The less energy-efficient economies should adjust their energy policies appropriately and develop new clean energy technologies in the future. Full article

(This article belongs to the Special Issue Energy Policy for a Sustainable Economic Growth)

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21 pages, 3135 KiB

Open AccessArticle

A VaR-Based Methodology for Assessing Carbon Price Risk across European Union Economic Sectors

by Vlad-Cosmin Bulai, Alexandra Horobet, Oana Cristina Popovici, Lucian Belascu and Sofia Adriana Dumitrescu

Energies 2021, 14(24), 8424; https://doi.org/10.3390/en14248424 - 14 Dec 2021

Cited by 6 | Viewed by 2788

Abstract

The latest European Union measures for combating climate adopted in the “Fit for 55 package” envisage the extension of the Emissions Trading System, the first “cap-and-trade” system in the world created for achieving climate targets, which limits the amount of greenhouse gas emissions [...] Read more.

The latest European Union measures for combating climate adopted in the “Fit for 55 package” envisage the extension of the Emissions Trading System, the first “cap-and-trade” system in the world created for achieving climate targets, which limits the amount of greenhouse gas emissions by imposing a price on carbon. In this context, our study provides an integrated assessment of carbon price risk exposure of all economic sectors in the European Union Member States, thus supporting decision making in determining the energy transition risk. We propose a novel approach in assessing carbon risk exposure using the Value at Risk methodology to compute the carbon price under the EU ETS, based on historical price simulation for January–August 2021 and ARMA-GARCH models for the October 2012–August 2021 period. We further built a value erosion metric, which allowed us to establish each sector’s exposure to risk and to identify differences between Eastern and Western EU countries. We find that the refining sector appears to be highly vulnerable, whereas there is higher potential for large losses in the energy supply and chemical sectors in Eastern EU Member States, given a different pace of industry restructuring. Full article

(This article belongs to the Special Issue Energy Policy for a Sustainable Economic Growth)

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17 pages, 1295 KiB

Open AccessArticle

Short and Long-Run Causal Effects of CO₂ Emissions, Energy Use, GDP and Population Growth: Evidence from India Using the ARDL and VECM Approaches

by Duraisamy Pachiyappan, Yasmeen Ansari, Md Shabbir Alam, Prabha Thoudam, Kuppusamy Alagirisamy and Palanisamy Manigandan

Energies 2021, 14(24), 8333; https://doi.org/10.3390/en14248333 - 10 Dec 2021

Cited by 27 | Viewed by 3954

Abstract

This paper investigates the nexus between CO₂ emissions (CO₂E), GDP, energy use (ENU), and population growth (PG) in India from 1980–2018 by comparing the “vector error correction” model (VECM) and “auto regressive distributed lag” (ARDL). We applied the unit root [...] Read more.

This paper investigates the nexus between CO₂ emissions (CO₂E), GDP, energy use (ENU), and population growth (PG) in India from 1980–2018 by comparing the “vector error correction” model (VECM) and “auto regressive distributed lag” (ARDL). We applied the unit root test, Johansen multi-variate cointegration, and performed a Variance decomposition analysis using the Cholesky approach. The VECM and ARDL-bound testing approaches to cointegration suggest a long-term equilibrium nexus between GDP, energy use, population growth and CO₂E. The empirical outcomes show the existence of a long-term equilibrium nexus between the variables. The Granger causality results show that short-term bi-directional causality exists between GDP and ENU, while a uni-directional causality between CO₂E and GDP, CO₂E and ENU, CO₂E and PG, and PG and ENU. Evidence from variance decomposition indicates that 58.4% of the future fluctuations in CO₂E are due to changes in ENU, 2.8% of the future fluctuations are due to changes in GDP, and 0.43% of the future fluctuations are due to changes in PG. Finally, the ARDL test results indicate that a 1% increase in PG will lead to a 1.4% increase in CO₂E. Our paper addresses some important policy implications. Full article

(This article belongs to the Special Issue Energy Policy for a Sustainable Economic Growth)

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21 pages, 2155 KiB

Open AccessArticle

The Energy Mix Dilemma and Environmental Sustainability: Interaction among Greenhouse Gas Emissions, Nuclear Energy, Urban Agglomeration, and Economic Growth

by Abdul Rehman, Hengyun Ma, Magdalena Radulescu, Crenguta Ileana Sinisi, Loredana Maria Paunescu, MD Shabbir Alam and Rafael Alvarado

Energies 2021, 14(22), 7703; https://doi.org/10.3390/en14227703 - 17 Nov 2021

Cited by 41 | Viewed by 3376

Abstract

In this paper we examined the interaction between greenhouse gas emissions, nuclear energy, coal energy, urban agglomeration, and economic growth in Pakistan by utilizing time series data during 1972–2019. The stationarity of the variables was tested through unit root tests, while the ARDL [...] Read more.

In this paper we examined the interaction between greenhouse gas emissions, nuclear energy, coal energy, urban agglomeration, and economic growth in Pakistan by utilizing time series data during 1972–2019. The stationarity of the variables was tested through unit root tests, while the ARDL (autoregressive distributed lag) method with long and short-run estimations was applied to reveal the linkages between variables. A unidirectional association between all variables was revealed by performing a Granger causality test under the vector error correction model (VECM) that was extracted during the short-run estimate. Furthermore, the stepwise least squares technique was also utilized to check the robustness of the variables. The findings of long-run estimations showed that GHG emissions, coal energy, and urban agglomeration have an adversative association with economic growth in Pakistan, while nuclear energy showed a dynamic association with the economic growth. The outcomes of short-run estimations also show that nuclear energy has a constructive association with economic growth, while the remaining variables exposed an adversative linkage to economic growth in Pakistan. Similarly, the Granger causality test under the vector error correction model (VECM) outcomes exposes that all variables have unidirectional association. Furthermore, the outcomes of the stepwise least squares technique reveals that GHG emissions and coal energy have an adverse association with economic growth, and variables nuclear energy and urban agglomeration have a productive linkage to the economic growth in Pakistan. GHG emissions are no doubt an emerging issue globally; therefore, conservative policies and financial support are needed to tackle this issue. Despite the fact that Pakistan contributes less to greenhouse gas emissions than industrialized countries, the government must implement new policies to address this problem in order to contribute to environmental sustainability while also enhancing economic development. Full article

(This article belongs to the Special Issue Energy Policy for a Sustainable Economic Growth)

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25 pages, 4648 KiB

Open AccessArticle

Energy Poverty and Sustainable Economic Development: An Exploration of Correlations and Interdependencies in European Countries

by Blanka Tundys, Agnieszka Bretyn and Maciej Urbaniak

Energies 2021, 14(22), 7640; https://doi.org/10.3390/en14227640 - 15 Nov 2021

Cited by 18 | Viewed by 2161

Abstract

The problem of energy poverty exists in practically every European country. Its size and scope are determined by a variety of factors, ranging from economic development to the direction of energy and climate policy implementation to cultural factors. Our aim in this paper [...] Read more.

The problem of energy poverty exists in practically every European country. Its size and scope are determined by a variety of factors, ranging from economic development to the direction of energy and climate policy implementation to cultural factors. Our aim in this paper was to carry out a comparative analysis of indicators related to energy poverty and sustainable development to identify correlations and links between the two issues and determine how they are related. The fact that the analysis was performed for most European countries is new and represents a broad spectrum of research; we were not limited to studies of countries bound by formal political-economic arrangements or by consideration of the degree of economic development. This approach enabled explication of how diverse the situation is in Europe. The research methods used included a critical analysis of the literature and the use of descriptive and mathematical-statistical tools. The main conclusions and findings of the analysis were that in some countries in economically developed Europe, energy poverty is a major problem, and that, in this respect, there are large differences between “old European Union” and “new European Union” countries, and in the countries that do not belong to political-economic structures in Europe. It is clear, from the research, which countries are rapidly and effectively reducing their energy poverty problems and which factors are the determinants of this. These results are linked to the new direction of energy policy and the shift towards more environmentally friendly energy use. In conclusion, it has been possible to identify the causes of energy poverty and how the energy poverty situation in Europe is changing. Full article

(This article belongs to the Special Issue Energy Policy for a Sustainable Economic Growth)

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18 pages, 958 KiB

Open AccessArticle

Pitfalls of the EU’s Carbon Border Adjustment Mechanism

by Byeongho Lim, Kyoungseo Hong, Jooyoung Yoon, Jeong-In Chang and Inkyo Cheong

Energies 2021, 14(21), 7303; https://doi.org/10.3390/en14217303 - 04 Nov 2021

Cited by 27 | Viewed by 9492

Abstract

The European Union (EU), which has led international discussions on global warming, officially announced its plan for the Carbon Border Adjustment Mechanism (CBAM) in July 2021. Many existing studies have indicated the CBAM will curtail greenhouse gases, and will subsequently be positive in [...] Read more.

The European Union (EU), which has led international discussions on global warming, officially announced its plan for the Carbon Border Adjustment Mechanism (CBAM) in July 2021. Many existing studies have indicated the CBAM will curtail greenhouse gases, and will subsequently be positive in terms of reducing global warming. However, serious legal issues and trade disputes are expected in terms of the compatibility of the CBAM with the trade rules of the General Agreement on Tariffs and Trade (GATT). Contrary to the EU’s explanation, the international community has a strong view of CBAM as a new trade barrier under the guise of preventing global warming. Above all, this is because it is an arbitrary measure by the EU and not the one that has been internationally agreed upon. Therefore, this paper tries to identify the pitfalls and estimate the global cost of CBAM, arguing that the mechanism is not in line with international trade rules, and that many countries will not sit back and suffer from it. The world economy will inevitably face a vicious cycle of trade retaliation. The CBAM will drive up trade costs and cause another trade distortion. While the goal of preventing climate change is good, the CBAM scheme is too costly for the world economy. Full article

(This article belongs to the Special Issue Energy Policy for a Sustainable Economic Growth)

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25 pages, 8725 KiB

Open AccessArticle

Revisiting the Role of Fiscal Policy, Financial Development, and Foreign Direct Investment in Reducing Environmental Pollution during Globalization Mode: Evidence from Linear and Nonlinear Panel Data Approaches

by Mustafa Kamal, Muhammad Usman, Atif Jahanger and Daniel Balsalobre-Lorente

Energies 2021, 14(21), 6968; https://doi.org/10.3390/en14216968 - 23 Oct 2021

Cited by 97 | Viewed by 5883

Abstract

Fiscal policy is a crucial government tool for influencing and managing the national economy and creating a strong incentive for low carbon investment. Previous literature has reputable evidence that improving fiscal policy enhances environmental quality. However, the literature fails to classify the exact [...] Read more.

Fiscal policy is a crucial government tool for influencing and managing the national economy and creating a strong incentive for low carbon investment. Previous literature has reputable evidence that improving fiscal policy enhances environmental quality. However, the literature fails to classify the exact turning level (threshold point) below/above which the association may be negative or positive. In this regard, this research investigates the nexus between fiscal policy, foreign direct investment, financial development, trade openness, urban population, gross capital formation, labour force, and CO₂ emissions in the era of globalization. The panel data set contained 105 countries over the period from 1990 to 2016. The empirical findings are estimated through linear and nonlinear panel data approaches such as fully modified ordinary least square and panel threshold regression. The subsequent findings are established: first, fiscal policy and globalization significantly increase environmental pollution. Second, the empirical results confirm the existence of the pollution haven hypothesis (PHV). Third, financial development and gross fixed capital formation are also considered some of the most crucial indicators to increase pollution levels. Fourth, trade openness, urban population, and labour force improve environmental quality. Fifth, panel threshold regression discovers that countries maintain a minimum level of fiscal policy at −1.2889. Based on these empirical findings, this study suggests that policymakers and governments of these countries should take steps to restructure their industrial sector and design macroeconomic-level carbon-free policies to support the implementation of low-energy-intensive and lower carbon production technologies. Full article

(This article belongs to the Special Issue Energy Policy for a Sustainable Economic Growth)

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18 pages, 1681 KiB

Open AccessArticle

The Viability of Providing 24-Hour Electricity Access to Off-Grid Island Communities in the Philippines

by Lorafe Lozano, Edward M. Querikiol and Evelyn B. Taboada

Energies 2021, 14(20), 6797; https://doi.org/10.3390/en14206797 - 18 Oct 2021

Cited by 4 | Viewed by 4363

Abstract

Techno-economic viability assessments of rural electrification projects, especially those that integrate renewable energy technologies, typically look at system design optimization that would yield the most favorable cost and investment scenarios. However, the true viability of these projects relies more importantly on their impact [...] Read more.

Techno-economic viability assessments of rural electrification projects, especially those that integrate renewable energy technologies, typically look at system design optimization that would yield the most favorable cost and investment scenarios. However, the true viability of these projects relies more importantly on their impact to the rural communities while ensuring positive financial returns to the project developers. This paper aims to expand the viability assessment of electrification projects in off-grid island communities in order to mainly address the apparently opposing needs of the major stakeholders at play by developing a viability assessment framework considering the techno-economic dimensions as well as the socio-economic impacts to the consumers. The analysis follows a two-phase approach, where system design optimization and financial impact calculations are done in the first phase and the socio-economic viability is accomplished in the second phase. Results suggest that high capital investment for renewable energy has a better pay-off when there is higher demand for electricity. On the other hand, consumers also tend to receive higher economic benefit as they consume more electricity. However, the low income of rural consumers strains their capacity to pay, which necessitates their engagement in more economically-productive uses of electricity. The viability assessment framework can be a useful tool for both investors and consumers as this provides important insights which can be translated into impactful interventions that may include government support through improved policy implementation that can positively sustain electricity access in off-grid communities through renewable energy. Full article

(This article belongs to the Special Issue Energy Policy for a Sustainable Economic Growth)

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19 pages, 1049 KiB

Open AccessArticle

Asymmetric Impact of International Trade on Consumption-Based Carbon Emissions in MINT Nations

by Tomiwa Sunday Adebayo, Abraham Ayobamiji Awosusi, Husam Rjoub, Mirela Panait and Catalin Popescu

Energies 2021, 14(20), 6581; https://doi.org/10.3390/en14206581 - 13 Oct 2021

Cited by 23 | Viewed by 2080

Abstract

The association between carbon emissions and international trade has been examined thoroughly; however, consumption-based carbon emissions, which is adjusted for international trade, have not been studied extensively. Therefore, the present study assesses the asymmetric impact of trade (import and export) and economic growth [...] Read more.

The association between carbon emissions and international trade has been examined thoroughly; however, consumption-based carbon emissions, which is adjusted for international trade, have not been studied extensively. Therefore, the present study assesses the asymmetric impact of trade (import and export) and economic growth in consumption-based carbon emissions (CCO₂) using the MINT nations (Mexico, Indonesia, Nigeria and Turkey) as a case study. We applied the Nonlinear ARDL to assess this connection using dataset between 1990 and 2018. The outcomes from the BDS test affirmed the use of nonlinear techniques. Furthermore, the NARDL bounds test confirmed long-run association between CCO₂ and exports, imports and economic growth. The outcomes from the NARDL long and short-run estimates disclosed that positive (negative) shocks in imports increase (decrease) CCO₂ emissions in all the MINT nations. Moreover, positive (negative) shocks in exports decrease (increase) CCO₂ emissions in all the MINT nations. As expected, a positive shock in economic growth triggers CCO₂ emissions while a negative shift does not have significant impact on CCO₂ emissions in the MINT nations. Furthermore, we applied the Gradual shift causality test and the outcomes disclose that imports and economic growth can predict CCO₂ emissions in the MINT nations. The study outcomes have significant policy recommendations for policymakers in the MINT nations. Full article

(This article belongs to the Special Issue Energy Policy for a Sustainable Economic Growth)

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16 pages, 2423 KiB

Open AccessFeature PaperArticle

The Impact of Globalization, Energy Use, and Trade on Ecological Footprint in Pakistan: Does Environmental Sustainability Exist?

by Abdul Rehman, Magdalena Radulescu, Hengyun Ma, Vishal Dagar, Imran Hussain and Muhammad Kamran Khan

Energies 2021, 14(17), 5234; https://doi.org/10.3390/en14175234 - 24 Aug 2021

Cited by 84 | Viewed by 6941

Abstract

Globalization has contributed to several advances in technology including linking people around the globe and driving us to modern economies. With fast economic growth and industrialization progress, the negative impact of globalization on biodiversity can be easily ignored. Globalization is an undeniable factor [...] Read more.

Globalization has contributed to several advances in technology including linking people around the globe and driving us to modern economies. With fast economic growth and industrialization progress, the negative impact of globalization on biodiversity can be easily ignored. Globalization is an undeniable factor in our planetary devastation from pollution to global warming and climate change. The major intention of our recent analysis was to examine the globalization, energy consumption, trade, economic growth, and fuel importation to determine the ecological footprint in Pakistan by taking the annual data variables from 1974–2017. A linear ARDL (autoregressive distributed lag) technique with limited information maximum likelihood and linear Gaussian model estimation were utilized to check the variables association. Outcomes show that in the long run, globalization, energy usage, trade, and GDP growth have consistently productive interactions with the ecological footprint, while an examination of fuel importation uncovers an adversative linkage to impacts on the ecological footprint in Pakistan. Similarly, the findings of short-run interactions also reveal that globalization, energy usage, trade, and GDP growth have constructive linkages; however, an examination of fuel importation also uncovers an adversative linkage to impacts on the ecological footprint. The outcomes of limited information maximum likelihood also expose that the variables of globalization, energy usage, trade, and fuel importation have productive linkages, while an examination the GDP growth uncovers an adversative linkage to the ecological footprint. Furthermore, the outcomes of the linear Gaussian model estimation also uncover that globalization and energy usage demonstrate a constructive linkage, while other variables reveal an adverse linkage to the ecological footprint. Environmental pollution is now an emerging issue which causes the climatic variations associated with greenhouse gases emissions. The Pakistani government must adopt new strategies to ensure that CO₂ emissions are reduced in order to stimulate economic growth. Full article

(This article belongs to the Special Issue Energy Policy for a Sustainable Economic Growth)

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13 pages, 841 KiB

Open AccessArticle

Aggregated World Energy Demand Projections: Statistical Assessment

by Ignacio Mauleón

Energies 2021, 14(15), 4657; https://doi.org/10.3390/en14154657 - 31 Jul 2021

Cited by 4 | Viewed by 2071

Abstract

The primary purpose of this research is to assess the long-range energy demand assumption made in relevant Roadmaps for the transformation to a low-carbon energy system. A novel interdisciplinary approach is then implemented: a new model is estimated for the aggregated world primary [...] Read more.

The primary purpose of this research is to assess the long-range energy demand assumption made in relevant Roadmaps for the transformation to a low-carbon energy system. A novel interdisciplinary approach is then implemented: a new model is estimated for the aggregated world primary energy demand with long historical time series for world energy, income, and population for the years 1900–2017. The model is used to forecast energy demand in 2050 and assess the uncertainty-derived risk based on the variances of the series and parameters analysed. The results show that large efficiency savings—up to 50% in some cases and never observed before—are assumed in the main Roadmaps. This discrepancy becomes significantly higher when even moderate uncertainty assumptions are taken into account. A discussion on possible future sources of breaks in current patterns of energy supply and demand is also presented, leading to a new conclusion requiring an active political stance to accelerate efficiency savings and lifestyle changes that reduce energy demand, even if energy consumption may be reduced significantly. This will likely include replacing the income-growth paradigm with other criteria based on prosperity or related measures. Full article

(This article belongs to the Special Issue Energy Policy for a Sustainable Economic Growth)

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16 pages, 282 KiB

Open AccessArticle

The Corporate Social Responsibility of Polish Energy Companies

by Magdalena M. Stuss, Zbigniew J. Makieła, Agnieszka Herdan and Gabriela Kuźniarska

Energies 2021, 14(13), 3815; https://doi.org/10.3390/en14133815 - 24 Jun 2021

Cited by 12 | Viewed by 2476

Abstract

If corporate social responsibility (CSR) is expected to work efficiently, there should be a standardised approach for implementation of the CSR concept for all businesses, including companies operating in the energy sector. Although many companies declare compliance with CSR standards, further investigation should [...] Read more.

If corporate social responsibility (CSR) is expected to work efficiently, there should be a standardised approach for implementation of the CSR concept for all businesses, including companies operating in the energy sector. Although many companies declare compliance with CSR standards, further investigation should be undertaken to evaluate if and how those standards have been applied in practice. The aim of this research is to examine the level of standardisation of the CSR activities within Polish energy companies and explore the good practices developed by those companies. The Polish energy companies have been selected for the investigation as the literature review we conducted demonstrates that there is limited research in this area and there is a knowledge gap regarding how Polish energy companies apply CSR regulation in practice. To accomplish the stated aims, the following research questions were developed: (1) What is the essence of applying the CSR concept in Polish energy companies, and at what level of development is the concept applied? (2) To what extent do Polish energy companies have a common approach to the CSR concept, and in what areas are there differences? (3) To what extent have Polish energy companies applied global CSR standards and solutions? (4) Is there a gap between the declared measures of CSR and their actual implementation in Polish energy companies? The research methodology of this study is based on a systematic literature review of the sources acquired from databases such as ProQuest, Emerald, SCOPUS and the Jagiellonian University Library. The multiple case study approach was identified as the most suitable research tool. Companies for the study were selected according to their affiliation to the energy sector and listing on the main market of the Warsaw Stock Exchange. These two assumptions allowed us to base this study on the largest Polish energy companies that have international status. Six areas of CSR annual report disclosures have been identified and used for the investigation and analysis. This research looks at similarities and difference between these six aspects of CSRs disclosed by Polish energy companies. The investigation allows us to conclude that the top three energy companies use similar tools to build their CSR strategies: formalised CSR concept, published CSR reports, disclosure of CSR information on the company website, CSR related activities offered to stakeholders, obtained CSR certificates, and CSR awards. This indicates the existence of a standardised approach to CSR across Polish energy companies. Full article

(This article belongs to the Special Issue Energy Policy for a Sustainable Economic Growth)

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12 pages, 240 KiB

Open AccessArticle

Relationship between Energy Consumption and Economic Growth in European Countries: Evidence from Dynamic Panel Data Analysis

by Łukasz Topolewski

Energies 2021, 14(12), 3565; https://doi.org/10.3390/en14123565 - 15 Jun 2021

Cited by 26 | Viewed by 3907

Abstract

The aim of the article is to empirically verify the relationship between energy consumption and economic growth. The time scope of this study covers the period of 2008–2019. The scope of analyzed subjects covers 34 European countries, 27 of which are currently members [...] Read more.

The aim of the article is to empirically verify the relationship between energy consumption and economic growth. The time scope of this study covers the period of 2008–2019. The scope of analyzed subjects covers 34 European countries, 27 of which are currently members of the European Union. European countries consume large amounts of energy, so it is worth investigating the effect of reducing energy consumption on the process of economic growth. For this purpose, dynamic panel models were used. The research methods included the use of dynamic panel models, taking into account the Arellano and Bond and Blundell and Bond estimators. The results made it possible to identify the relationship between energy consumption and economic growth. It was found that, in the short term, increases in production will result in a statistically significant increase in energy consumption. Importantly, in the long term, this impact is also statistically significant and positive. On the other hand, taking into account the second of the estimated models, it can be concluded that, in the short term, increases in energy consumption do not cause changes in the rate of economic growth. The verification of this relationship in the long term also does not confirm it. In summary, it can be stated that a one-way relationship (in the short and in the long term), directed from economic growth towards energy consumption, was identified. Full article

(This article belongs to the Special Issue Energy Policy for a Sustainable Economic Growth)

24 pages, 880 KiB

Open AccessArticle

Probing the Energy-Environmental Kuznets Curve Hypothesis in Oil and Natural Gas Consumption Models Considering Urbanization and Financial Development in Middle East Countries

by Haider Mahmood, Nabil Maalel and Muhammad Shahid Hassan

Energies 2021, 14(11), 3178; https://doi.org/10.3390/en14113178 - 29 May 2021

Cited by 23 | Viewed by 3118

Abstract

Economic growth, urbanization, and financial market development (FMD) may increase energy demand in any economy. Non-renewable sources of energy consumption, i.e., oil consumption and natural gas consumption (NGC), could have environmental consequences. We examine the effects of economic growth, urbanization, and FMD on [...] Read more.

Economic growth, urbanization, and financial market development (FMD) may increase energy demand in any economy. Non-renewable sources of energy consumption, i.e., oil consumption and natural gas consumption (NGC), could have environmental consequences. We examine the effects of economic growth, urbanization, and FMD on the oil consumption and NGC in Middle East countries using the period 1975–2019. In the panel results, we found a positive effect of income and a negative effect of income-squared on oil and natural gas consumption. Hence, we corroborate the existence of the environmental Kuznets curve (EKC) hypothesis in oil and natural gas consumption models of the Middle East region. Urbanization has a positive effect on oil and natural gas consumption. FMD has a positive effect on oil consumption and has a negative effect on NGC. From the long-run, country-specific results, we validate the existence of the EKC hypothesis in the oil consumption models of Iran and Iraq. The EKC is also found in the natural gas consumption models of Iran, Kuwait, and the UAE. From the short-run results, the EKC hypothesis is validated in the oil consumption models of Iran, Iraq, and Israel. The EKC is also corroborated in the NGC models of Iran, Kuwait, and the UAE. In the long run, urbanization has a positive effect on oil consumption in Iraq, Kuwait, Saudi Arabia, and Qatar. Further, urbanization has a positive effect on the NGC in Iraq, Israel, and Saudi Arabia. Conversely, urbanization has a negative effect on oil consumption in Israel. In the short run, urbanization has a positive effect on oil consumption in Iraq, Israel, Kuwait, and Qatar. Moreover, urbanization has a positive effect on the NGC in Iraq. On the other hand, urbanization has a negative effect on oil consumption in Saudi Arabia and Iran. In the long run, FMD has a positive effect on oil consumption in Saudi Arabia and Israel. In the short run, FMD has a positive effect on oil consumption in Israel, Kuwait, and Saudi Arabia. In contrast, FMD has a negative effect on oil consumption in the UAE. Moreover, a positive effect of FMD on NGC is found in the UAE. However, FMD has a negative effect on the NGC in Israel. Full article

(This article belongs to the Special Issue Energy Policy for a Sustainable Economic Growth)

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15 pages, 267 KiB

Open AccessFeature PaperArticle

Sustainable Investment—A Solution to Reduce Environmental Footprint

by Kęstutis Biekša, Aurelija Zonienė and Violeta Valiulė

Energies 2021, 14(11), 3104; https://doi.org/10.3390/en14113104 - 26 May 2021

Cited by 6 | Viewed by 2716

Abstract

The environmental footprint (EF) indicator has emerged as a tool to measure human demand for productive land and water and it is used for the evaluation of the impact of products or economic activities on the environment. There are many indicators that are [...] Read more.

The environmental footprint (EF) indicator has emerged as a tool to measure human demand for productive land and water and it is used for the evaluation of the impact of products or economic activities on the environment. There are many indicators that are used in the decision making for the investment in the power sector, however, predominant are the economic indicators which underestimate the depreciation of natural capital (environment) and the value added generated by the public services. Many research studies have been carried out in an attempt to demonstrate the versatility of the EF by extending its applicability not only to environmental assessment, but also to use it, among other economic indicators, when assessing sustainable investment. Sustainable investment (SI) combines fundamental analysis and engagement with an evaluation of environmental, social and corporate governance (ESG) factors. The purpose of this article is, upon evaluating the EF, to identify the opportunities for the EF reduction through sustainable investment in the electricity production sector in EU countries. Environmental footprint analysis has been performed by using sustainable process index program SPIonExcel (SPI), which is one of the methods in the EF family. SPI is a useful tool for assessing ecological problems and finding sustainable solutions in the life cycle of energy production process. This research has revealed that the function of the footprint reduction depends directly on investments in renewable energy source (RES) technologies, but not all investments can be sustainable. Countries mainly invest in the development of wind energy and solar PV technologies and gradually reduce their inland production capacities from fossil fuel. Although SI in RES technologies reduces the EF, this is not enough to reduce it substantially because there are limitations for installing new power capacities. Consequently, countries tend to invest in the development of electricity networks. The conclusion can be drawn as follows: the reduction of the EF of electricity could be achieved by developing RES technologies since the major part of electricity is produced by using non-renewable resources. It is essential to develop new technologies as soon as possible in order to reduce EF as much as possible, and this can only be achieved through systematic sustainable investment. Full article

(This article belongs to the Special Issue Energy Policy for a Sustainable Economic Growth)

14 pages, 1200 KiB

Open AccessArticle

The Impact of Oil Price on Transition toward Renewable Energy Consumption? Evidence from Russia

by Rıdvan Karacan, Shahriyar Mukhtarov, İsmail Barış, Aykut İşleyen and Mehmet Emin Yardımcı

Energies 2021, 14(10), 2947; https://doi.org/10.3390/en14102947 - 19 May 2021

Cited by 49 | Viewed by 5628

Abstract

This research investigates the impact of oil price, income and carbon dioxide emissions on renewable energy consumption in Russia for the data period from 1990 to 2015, using the Vector Error Correction Models and the Canonical Cointegrating Regression method. This article is the [...] Read more.

This research investigates the impact of oil price, income and carbon dioxide emissions on renewable energy consumption in Russia for the data period from 1990 to 2015, using the Vector Error Correction Models and the Canonical Cointegrating Regression method. This article is the only study conducting individual time-series analysis that emphasizes the effect of oil price on renewable energy consumption in the case of Russia. The results of empirical analysis conclude that oil price affects renewable energy consumption negatively. The negative oil price effects on renewable energy use can be interpreted as a sign of issue that stems from higher oil prices and slows the transition from conventional to renewable energy sources. Additionally, we found that there is a positive and statistically significant influence of real GDP per capita as a proxy of income on renewable energy consumption, whereas the carbon dioxide emissions have a negative and statistically insignificant influence on renewable energy consumption. Considering these empirical results, Russia, which has a significant share in energy production in the world, should focus on the use of renewable energy in order to maintain this superiority and its sustainability. The findings of this paper may be useful to policymakers and may help to contribute to existing literature for future research in the case of oil-exporting countries. Full article

(This article belongs to the Special Issue Energy Policy for a Sustainable Economic Growth)

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25 pages, 28339 KiB

Open AccessArticle

Optimal Design on Fossil-to-Renewable Energy Transition of Regional Integrated Energy Systems under CO₂ Emission Abatement Control: A Case Study in Dalian, China

by Xinxin Liu, Nan Li, Feng Liu, Hailin Mu, Longxi Li and Xiaoyu Liu

Energies 2021, 14(10), 2879; https://doi.org/10.3390/en14102879 - 17 May 2021

Cited by 5 | Viewed by 1841

Abstract

Optimal design of regional integrated energy systems (RIES) offers great potential for better managing energy sources, lower costs and reducing environmental impact. To capture the transition process from fossil fuel to renewable energy, a flexible RIES, including the traditional energy system (TES) based [...] Read more.

Optimal design of regional integrated energy systems (RIES) offers great potential for better managing energy sources, lower costs and reducing environmental impact. To capture the transition process from fossil fuel to renewable energy, a flexible RIES, including the traditional energy system (TES) based on the coal and biomass based distributed energy system (BDES), was designed to meet a regional multiple energy demand. In this paper, we analyze multiple scenarios based on a new rural community in Dalian (China) to capture the relationship among the energy supply cost, increased share of biomass, system configuration transformation, and renewable subsidy according to regional CO₂ emission abatement control targets. A mixed integer linear programming (MILP) model was developed to find the optimal solutions. The results indicated that a 40.58% increase in the share of biomass in the RIES was the most cost-effective way as compared to the separate TES and BDES. Based on the RIES with minimal cost, by setting a CO₂ emission reduction control within 40%, the RIES could ensure a competitive total annual cost as compared to the TES. In addition, when the reduction control exceeds 40%, a subsidy of 53.83 to 261.26 RMB/t of biomass would be needed to cover the extra cost to further increase the share of biomass resource and decrease the CO₂ emission. Full article

(This article belongs to the Special Issue Energy Policy for a Sustainable Economic Growth)

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30 pages, 5081 KiB

Open AccessArticle

Long-Run Dynamics of Gas Emissions, Economic Growth, and Low-Carbon Energy in the European Union: The Fostering Effect of FDI and Trade

by Alexandra Horobet, Oana Cristina Popovici, Emanuela Zlatea, Lucian Belascu, Dan Gabriel Dumitrescu and Stefania Cristina Curea

Energies 2021, 14(10), 2858; https://doi.org/10.3390/en14102858 - 15 May 2021

Cited by 19 | Viewed by 2811

Abstract

The European Union’s environmental goal by 2050 is to become the first climate-neutral continent in the world. This means specific efforts for diversifying the energy mix and investing in low-carbon energy. Our study investigates the nexus among carbon emissions, energy consumption and mix, [...] Read more.

The European Union’s environmental goal by 2050 is to become the first climate-neutral continent in the world. This means specific efforts for diversifying the energy mix and investing in low-carbon energy. Our study investigates the nexus among carbon emissions, energy consumption and mix, and economic growth in a modified framework that includes the contribution of inward foreign direct investments and international trade to lowering air pollution. We have used a two-step approach to explore in more detail the links between these variables in 24 EU countries over the period 1995–2018, followed by a panel VECM analysis. Our results indicate that there is a unidirectional link between economic growth and CO₂ emissions, which should imply a decoupling of environmental improvement measures from the pace of economic growth. We also find bidirectional causal relationships between low-carbon energy shares in consumption and CO₂ emissions, as well as between low-carbon energy share in consumption and GDP per capita, which confirms both pollution haven and the halo effect hypotheses for FDI on gas emissions. However, in the long term, FDI, exports, and imports have positively impacted the reduction in CO₂ emissions; therefore, stronger EU investment and trade integration should be promoted to improve the quality of the environment. Full article

(This article belongs to the Special Issue Energy Policy for a Sustainable Economic Growth)

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17 pages, 516 KiB

Open AccessArticle

The Relationship between Economic Growth and Pollution in Some New European Union Member States: A Dynamic Panel ARDL Approach

by Mihaela Simionescu, Carmen Beatrice Păuna and Mihaela-Daniela Vornicescu Niculescu

Energies 2021, 14(9), 2363; https://doi.org/10.3390/en14092363 - 21 Apr 2021

Cited by 19 | Viewed by 2824

Abstract

Considering the necessity of achieving economic development by keeping the quality of the environment, the aim of this paper is to study the impact of economic growth on GHG emissions in a sample of Central and Eastern European (CEE) countries (V4 countries, Bulgaria [...] Read more.

Considering the necessity of achieving economic development by keeping the quality of the environment, the aim of this paper is to study the impact of economic growth on GHG emissions in a sample of Central and Eastern European (CEE) countries (V4 countries, Bulgaria and Romania) in the period of 1996–2019. In the context of dynamic ARDL panel and environmental Kuznets curve (EKC), the relationship between GHG and GDP is N-shaped. A U-shaped relationship was obtained in the renewable Kuznets curve (RKC). Energy consumption, domestic credit to the private sector, and labor productivity contribute to pollution, while renewable energy consumption reduces the GHG emissions. However, more efforts are required for promoting renewable energy in the analyzed countries. Full article

(This article belongs to the Special Issue Energy Policy for a Sustainable Economic Growth)

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19 pages, 2026 KiB

Open AccessArticle

Impact of Carbon Tax Increase on Product Prices in Japan

by Katsuyuki Nakano and Ken Yamagishi

Energies 2021, 14(7), 1986; https://doi.org/10.3390/en14071986 - 02 Apr 2021

Cited by 3 | Viewed by 3741

Abstract

The introduction or strengthening of a carbon tax is being considered in many countries as an economic policy instrument to reduce greenhouse gas (GHG) emissions. However, there is no study analyzing the impact of a carbon tax increase in a uniform method for [...] Read more.

The introduction or strengthening of a carbon tax is being considered in many countries as an economic policy instrument to reduce greenhouse gas (GHG) emissions. However, there is no study analyzing the impact of a carbon tax increase in a uniform method for various products, reflecting the energy taxes and exemptions. Therefore, this study analyzes the price changes of products associated with the introduction of a stronger carbon tax, using Japan as an example. A process-based life cycle assessment database was used to enable a detailed product-level analysis. Five scenarios with different taxation amounts and methods were analyzed. The results show that price changes vary greatly by industry sector and product, even within the same industry sector. For example, seasonal vegetables and recycled plastics are less affected by carbon tax increases. Imported products, such as primary aluminum, are not affected by the Japanese carbon tax change, indicating a risk of carbon leakage. If GHGs other than CO₂ are also taxed, the price of CH₄ and N₂O emitting products, such as rice and beef, would rise significantly. The method presented in this paper enables companies to assume price changes in procured products due to carbon taxes and policymakers to analyze the impact of such taxes on products. Full article

(This article belongs to the Special Issue Energy Policy for a Sustainable Economic Growth)

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25 pages, 1341 KiB

Open AccessFeature PaperArticle

Do Environment-Related Policy Instruments and Technologies Facilitate Renewable Energy Generation? Exploring the Contextual Evidence from Developed Economies

by Umer Shahzad, Magdalena Radulescu, Syed Rahim, Cem Isik, Zahid Yousaf and Stefan Alexandru Ionescu

Energies 2021, 14(3), 690; https://doi.org/10.3390/en14030690 - 29 Jan 2021

Cited by 141 | Viewed by 4758

Abstract

Attaining sustainable development and cleaner production is a major challenge both for developed and developing economies; income, institutional regulations, institutional quality and international trade are the key determinants of environmental externalities. The current work attempts to study the role of environmental taxes and [...] Read more.

Attaining sustainable development and cleaner production is a major challenge both for developed and developing economies; income, institutional regulations, institutional quality and international trade are the key determinants of environmental externalities. The current work attempts to study the role of environmental taxes and regulations on renewable energy generation for developed economies. For that, the authors have used the annual dataset for the period 1994 to 2018. More specifically, the study investigates the impacts of environmental taxes, environment-related technologies and the environmental policy stringency index on renewable electricity generation in 29 developed countries. Given the short available data of these countries, the authors have developed panel cointegration and panel regressions models (fully modified ordinary least square (FMOLS), quantile regressions). The heterogeneous panel empirics stated that environmental regulations and income level support renewable electricity generation. The conclusions further mention that bureaucratic qualities such as decision making and trade openness tend to reduce renewable energy generation. The empirical findings allowed us to draw new narrative and implications. Overall, the conclusions argue that innovative regulations and policies can be useful for attaining specific sustainable development goals (e.g., SDG-7: cleaner and cheap energy). Full article

(This article belongs to the Special Issue Energy Policy for a Sustainable Economic Growth)

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19 pages, 304 KiB

Open AccessArticle

Renewable Energy and Economic Performance in the Context of the European Green Deal

by Mihaela Simionescu, Carmen Beatrice Păuna and Tiberiu Diaconescu

Energies 2020, 13(23), 6440; https://doi.org/10.3390/en13236440 - 06 Dec 2020

Cited by 32 | Viewed by 4751

Abstract

The European Green Deal considers the increase in the share of renewable energy in final energy consumption (REFEC) among the main targets for achieving sustainable EU economies. In this context, the main aim of this paper is to provide an empirical evaluation of [...] Read more.

The European Green Deal considers the increase in the share of renewable energy in final energy consumption (REFEC) among the main targets for achieving sustainable EU economies. In this context, the main aim of this paper is to provide an empirical evaluation of the relationship between GDP, global competitiveness index (GCI) and renewable energy consumption. According to panel data models based on the fully modified ordinary least squares method (FMOLS), there is a positive effect of renewable energy consumption progress on GDP and GCI growth, and also a positive influence of economic growth on renewable energy consumption in the period 2007–2019 in the EU countries. The energy consumption is more influenced by economic growth rather than economic competitiveness. Few scenarios were proposed for economic growth and share of renewable sources (RESs) in the final consumption using as forecasting method the proposed panel data models. The cluster analysis suggested two groups of countries according to RES share in gross final energy consumption (GFEC). The first group includes six countries (Sweden, Denmark, Finland, Latvia, Portugal and Austria) that fixed a target of 30% or more, while the second one refers to countries with lower targets. Some policy recommendations are provided for the EU countries to enhance the utilization of renewable energy. Full article

(This article belongs to the Special Issue Energy Policy for a Sustainable Economic Growth)

19 pages, 2048 KiB

Open AccessArticle

The Nuclear Power Dilemma—Between Perception and Reality

by Florentina Paraschiv and Dima Mohamad

Energies 2020, 13(22), 6074; https://doi.org/10.3390/en13226074 - 20 Nov 2020

Cited by 5 | Viewed by 6615

Abstract

Motivated by the environmental challenges and the increase in energy demand, this review assesses the suitability of nuclear power production as an alternative option to using fossil fuels. First, we assess the competitiveness of nuclear power compared to other power sources considering its [...] Read more.

Motivated by the environmental challenges and the increase in energy demand, this review assesses the suitability of nuclear power production as an alternative option to using fossil fuels. First, we assess the competitiveness of nuclear power compared to other power sources considering its economic efficiency, environmental impact and implications for health, and conclude that this is a viable option to serve in addition to and as a backup to renewable sources. Second, we review previous findings in various fields on advantages and disadvantages of nuclear power technology and conclude that there is a gap between reality and perception. Third, we discuss challenges related to nuclear weapons proliferation and misperceived public opinion on nuclear power. We conclude that the gap between perception and reality stems from a lack of consolidated interdisciplinary view, media communications focusing mainly on unilateral assessments. Full article

(This article belongs to the Special Issue Energy Policy for a Sustainable Economic Growth)

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16 pages, 2634 KiB

Open AccessReview

Inclusion of Renewable Energy Sources in Municipal Environmental Policy—The Case Study of Kraków, Poland

by Tomasz Jeleński, Marta Dendys, Elżbieta Radziszewska-Zielina and Małgorzata Fedorczak-Cisak

Energies 2021, 14(24), 8573; https://doi.org/10.3390/en14248573 - 20 Dec 2021

Cited by 1 | Viewed by 2391

Abstract

This article reviews the evolution of local environmental policy in the context of energy transition and particularly the implementation of RES. The study concerns Kraków, whose policy has been compared with other cities and metropolises and was analysed in a timespan of about [...] Read more.

This article reviews the evolution of local environmental policy in the context of energy transition and particularly the implementation of RES. The study concerns Kraków, whose policy has been compared with other cities and metropolises and was analysed in a timespan of about 30 years. It was hypothesised that, until recently, RES were treated in the city with reserve concerning their feasibility in local environmental and economic conditions, but since RES have been appreciated as a viable means to effectively combat low-stack emissions, the local air quality targets have been integrated with global decarbonisation goals. This launched a dedicated subsidy stream for RES installations and contributed to the sharp increase in the number of installations. Trend analysis techniques have been used to study environmental indicators in relation to the evolution of municipal policies, the expenditures, and their effects. The review confirms that the implementation of RES had not been a priority for Kraków but a complementary measure to those aimed at improving air quality. The recent integration of the environmental and RES policies has been the next step that is now helping to pursue both the city’s strategic goals: further air quality improvement and climate neutrality by 2050. Kraków may serve as an example of a city that has treated RES in a manner adequate to local conditions and capabilities, thus achieving the intended goals. Full article

(This article belongs to the Special Issue Energy Policy for a Sustainable Economic Growth)

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23 pages, 5220 KiB

Open AccessReview

Electricity Market in Brazil: A Critical Review on the Ongoing Reform

by André Quites Ordovás Santos, Adriel Rodrigues da Silva, Jorge Javier Gimenez Ledesma, Adriano Batista de Almeida, Marco Roberto Cavallari and Oswaldo Hideo Ando Junior

Energies 2021, 14(10), 2873; https://doi.org/10.3390/en14102873 - 16 May 2021

Cited by 17 | Viewed by 4727

Abstract

With the current worsening of climate change-associated risks, the transition to low-carbon energy sources has become a global priority. In this context, the advances in the implementation of smart grids, which, in addition to greater efficiency and resilience, also allow greater penetration of [...] Read more.

With the current worsening of climate change-associated risks, the transition to low-carbon energy sources has become a global priority. In this context, the advances in the implementation of smart grids, which, in addition to greater efficiency and resilience, also allow greater penetration of renewable distributed energy resources, are becoming increasingly important. However, the necessary investments will be colossal. Many specialists see the process of opening up the electric energy markets as essential to boosting these new technologies. Greater decentralization of the decision-making process can potentially promote greater scalability. However, not all liberalization reforms have led to good results. Several researchers have been evaluating experiences in different countries. Brazil, a country with continental dimensions and peculiar characteristics, already counts with a mostly renewable electric energy generation mix. In recent decades, however, it has become increasingly dependent on fossil fuel sources. Brazil has been conducting a process of opening the electric energy market since the 1990s. This process has faced a series of barriers. This article presents a critical bibliographic review of the Brazilian Power System history and its ongoing opening process, its possible successes and errors, as well as its perspectives and challenges. Full article

(This article belongs to the Special Issue Energy Policy for a Sustainable Economic Growth)

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23 pages, 2631 KiB

Open AccessReview

Exploring the Research Regarding Energy–Economic Growth Relationship

by Claudiu Cicea, Carmen Nadia Ciocoiu and Corina Marinescu

Energies 2021, 14(9), 2661; https://doi.org/10.3390/en14092661 - 06 May 2021

Cited by 3 | Viewed by 2205

Abstract

The purpose of this study is to analyze the evolution of the scientific research regarding the relationship between energy and economic growth, in order to reveal preferred topics and less approached themes. We conducted an occurrence and cluster analysis, followed by a correspondence [...] Read more.

The purpose of this study is to analyze the evolution of the scientific research regarding the relationship between energy and economic growth, in order to reveal preferred topics and less approached themes. We conducted an occurrence and cluster analysis, followed by a correspondence analysis using articles published between 1979 and 2019 in journals indexed in the Web of Science. The analysis was split into three periods taking into account the major economic and energetic milestones. The analysis focused on distribution of the topics studied both by years and by journals. The research revealed some major trends: there has been an explosive increase in studies based on Asian countries over the three periods as concerns for sustainable development intensified, and environmental issues were associated with research on the relationship between energy and economic growth. Even if the journals cover different scientific areas, during the last 10 years they contain articles with very similar topics. Full article

(This article belongs to the Special Issue Energy Policy for a Sustainable Economic Growth)

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