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Sustainability
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Energy Transition amidst Global Energy Demand and Trade Studies
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Energy Transition amidst Global Energy Demand and Trade Studies

A special issue of Sustainability (ISSN 2071-1050). This special issue belongs to the section "Environmental Sustainability and Applications".

Deadline for manuscript submissions: closed (26 March 2023) | Viewed by 13379

Special Issue Editors

Dr. Festus Victor Bekun

E-Mail Website
Guest Editor
Department of International Logistics and Transportation, Faculty of Economics Administrative and Social sciences, Istanbul Gelisim University, 34310 Istanbul, Turkey
Interests: energy and environmental economics; climate change; environmental sustainability
Special Issues, Collections and Topics in MDPI journals
Dr. Gizem Uzuner

E-Mail Website
Guest Editor
Department of Economics and Finance, Faculty of Economics Administrative and Social sciences, Istanbul Gelisim University, 34310 Istanbul, Turkey
Interests: energy economics; renewable and nonrenewable energy; environmental science; econometrics; housing market; tourism economics
Prof. Dr. Mehmet Balcilar

E-Mail Website
Guest Editor
Eastern Mediterranean University, Famagusta, 99628 Famagusta, Cyprus
Interests: econometrics; risk management; forecasting; time series; disaster risk modelling
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

Energy production and consumption have been blamed partly globally for climate change issues and global warming menace. This has brought policymakers, stakeholders, non-governmental bodies like the Intergovernmental Panel on Climate Change (IPCC) agencies to a crossroads of the dilemma between economic growth trajectory and its environmental consequences (Bekun et al.2019a; Bekun at al. 2019b; Baloch et al.2020). The unanswered puzzles do we stop seeking energy production or consumption? Of course, no. This has engineered the need for more innovative ways to consume energy products especially given the adverse effect of energy from fossil-fuel orientation. To this end, there is a need for a paradigm shift from conventional energy consumption to more efficient, secure, and clean energy sources. These sources are known to be more ecosystem friendly.

Furthermore, the wave of globalization, financial integration, and anthropogenic activities all put pressure for a higher impetus for energy consumption and economic growth thereby raising concerns of its aftermath. This dynamic resonates with the concern of United Nations Sustainable Development Goals that address these pertinent goals that border around access to clean and sustainable energy consumption, (SDG -7 and 12) sustainable development (SDG-8), and equality in business and partnership with the rest of the world (SDG- 10 and 17)

To underscore this dynamic and more, we seek scientific and technical notes/papers that access these issues with the adoption of state of art econometrics tools to push the frontier of knowledge on this theme for emerging, developing, and developed divide.

References

Baloch, M. A., Ozturk, I., Bekun, F. V., & Khan, D. (2020). Modeling the dynamic linkage between financial development, energy innovation, and environmental quality: Does globalization matter?. Business Strategy and the Environment.

Bekun, F. V., Alola, A. A., & Sarkodie, S. A. (2019a). Toward a sustainable environment: Nexus between CO2 emissions, resource rent, renewable and nonrenewable energy in 16-EU countries. Science of the Total Environment, 657, 1023-1029.

Bekun, F. V., Emir, F., & Sarkodie, S. A. (2019b). Another look at the relationship between energy consumption, carbon dioxide emissions, and economic growth in South Africa. Science of the Total Environment, 655, 759-765.

Dr. Festus Victor Bekun
Dr. Gizem Uzuner
Prof. Dr. Mehmet Balcilar
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Sustainability is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • Energy Economics
  • Energy Transition
  • Renewable Energy
  • Environmental Economics
  • Climate change
  • Environmental sustainability
  • Sustainable Development admits business dynamics
  • Global trade and energy consumption
  • Panel and Time Series data among others

Published Papers (5 papers)

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Research

19 pages, 358 KiB  
Article
Modelling Sustainable Non-Renewable and Renewable Energy Based on the EKC Hypothesis for Africa’s Ten Most Popular Tourist Destinations
by Liton Chandra Voumik, Md. Hasanur Rahman, Shohel Md. Nafi, Md. Akter Hossain, Abdul Rahim Ridzuan and Nora Yusma Mohamed Yusoff
Sustainability 2023, 15(5), 4029; https://doi.org/10.3390/su15054029 - 22 Feb 2023
Cited by 33 | Viewed by 2233
Abstract
The main purpose of this study was to examine how tourism, GDP, renewable energy, and fossil fuels cause environmental damage. This study examined ten African countries between 1997 and 2021 to test the environmental Kuznets curve (EKC) theory. Egypt, South Africa, Kenya, Morocco, [...] Read more.
The main purpose of this study was to examine how tourism, GDP, renewable energy, and fossil fuels cause environmental damage. This study examined ten African countries between 1997 and 2021 to test the environmental Kuznets curve (EKC) theory. Egypt, South Africa, Kenya, Morocco, Tanzania, Tunisia, Mauritius, Ghana, Uganda, and Nigeria are the ten African countries with the most tourists. In this paper, the augmented mean group (AMG), mean group (MG), and common correlated effects mean group (CCEMG) models were used to deal with slope heterogeneity (SH), cross-sectional dependence (CSD), and a mix of first-differenced and level stationary variables. Though the inverted U-shaped exists, the findings are significant only for MG. The impact of renewable energy is favorable for the environment and significant for the AMG estimator. Inversely, impact of tourist arrivals and fossil fuels are detrimental for environment and significant. Based on the findings for each country, the tourism-based EKC theory only works for Kenya, Egypt, and Tanzania. The research found that using more renewable energy minimizes CO2 emissions more effectively in almost all countries except Morocco and Ghana. Ghana, Kenya, and Uganda’s CO2 emissions increase when more tourists come from other countries. For the sake of both tourism and the environment, the government must reconsider its tourism policies and implement ones that include renewable energy. The findings of this study assist in the transition to clean energy, aiding in sustainable tourism growth. As a result, selected countries should develop a new tourism plan that focuses on renewable energy sources and protects the environment. Full article
(This article belongs to the Special Issue Energy Transition amidst Global Energy Demand and Trade Studies)
16 pages, 2016 KiB  
Article
Boosting Energy Efficiency in Turkey: The Role of Public–Private Partnership Investment
by Mehmet Balcilar, Gizem Uzuner, Chinazaekpere Nwani and Festus Victor Bekun
Sustainability 2023, 15(3), 2273; https://doi.org/10.3390/su15032273 - 26 Jan 2023
Cited by 12 | Viewed by 1998
Abstract
This study draws motivation from the United Nations Sustainable Development Goals (7.8.11), which highlight pertinent issues across the globe, among which are access to energy, responsible consumption, and sustainable development. To this end, we explored the pivotal role of public–private partnerships (PPP) investment [...] Read more.
This study draws motivation from the United Nations Sustainable Development Goals (7.8.11), which highlight pertinent issues across the globe, among which are access to energy, responsible consumption, and sustainable development. To this end, we explored the pivotal role of public–private partnerships (PPP) investment in energy in Turkey, which is currently on an aggressive trajectory for its energy mix to energy efficiency. To avoid omitted variable bias in econometric strategies, we controlled for vital macroeconomic indicators such as foreign direct investment (FDI), trade flow, and economic growth. Empirical results showed a long-run equilibrium relationship between the outlined variables as traced by the autoregressive distributed lag (ARDL) bounds test. Subsequently, we observed a positive relationship between public–private partnership (PPP) investment in energy and the country’s energy intensification in both the short and long runs. A similar trend was observed between FDI, GDP growth, and energy intensity. These outcomes have inherent policy caveats for the Turkish energy sector and economic trajectory. Policy implications include efficient investment in clean energy (renewables) as part of Turkey’s effort toward energy intensification to guarantee sustainable development. Additionally, the involvement of PPP is a welcome dimension for sustainable economic growth. Further insights are documented in the concluding remarks. Full article
(This article belongs to the Special Issue Energy Transition amidst Global Energy Demand and Trade Studies)
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23 pages, 1146 KiB  
Article
On the Determinants of Green Technology Diffusion: An Empirical Analysis of Economic, Social, Political, and Environmental Factors
by Busra Agan and Mehmet Balcilar
Sustainability 2022, 14(4), 2008; https://doi.org/10.3390/su14042008 - 10 Feb 2022
Cited by 9 | Viewed by 2952
Abstract
The purpose of this study is to investigate the importance of economic, social, political, and environmental factors in determining green technology diffusion. We use a unique annual panel dataset covering 58 nations from 1990 to 2019. Based on dynamic panel data models estimated [...] Read more.
The purpose of this study is to investigate the importance of economic, social, political, and environmental factors in determining green technology diffusion. We use a unique annual panel dataset covering 58 nations from 1990 to 2019. Based on dynamic panel data models estimated using system generalized method of moments (GMM), we test whether the technological achievement of nations, general technology diffusion trends, environmental performance, democratic accountability, income distribution, foreign direct investment, income level, and socioeconomic conditions are significant determinants. Our findings indicate that green technology diffusion has a significant relationship with all of these factors. We obtain new evidence that general or brown technological innovation, diffusion, and achievement trends in a country are significant drivers of environmental technology diffusion. The findings of our paper have significant implications for sustainable development, given the importance of green products and technologies. The results of the study suggest that policies aimed at promoting the diffusion of green technologies may not be successful in the presence of unfavorable economic, social, political, or environmental conditions. Full article
(This article belongs to the Special Issue Energy Transition amidst Global Energy Demand and Trade Studies)
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16 pages, 643 KiB  
Article
Implications of Social Isolation in Combating COVID-19 Outbreak in Kingdom of Saudi Arabia: Its Consequences on the Carbon Emissions Reduction
by Mary Oluwatoyin Agboola, Festus Victor Bekun and Daniel Balsalobre-Lorente
Sustainability 2021, 13(16), 9476; https://doi.org/10.3390/su13169476 - 23 Aug 2021
Cited by 19 | Viewed by 2624
Abstract
The aftermath of the COVID-19 pandemic has two striking impacts on the economy of the Kingdom of Saudi Arabia. First, the economic contraction of business and economic activities. Second, the effect of oil prices dropping as energy demand decreases in the international market. [...] Read more.
The aftermath of the COVID-19 pandemic has two striking impacts on the economy of the Kingdom of Saudi Arabia. First, the economic contraction of business and economic activities. Second, the effect of oil prices dropping as energy demand decreases in the international market. This study seeks to underpin the linkage between GDP growth, oil price, foreign direct investment (FDI), air transport, social globalization and carbon dioxide emission by applying time-series econometrics techniques of the following: fully modified ordinary least squares, dynamic ordinary least squares and canonical tests. The results of the Johansen cointegration test and empirical analysis trace a long-run equilibrium relationship between the highlighted variables. Our study shows that a 1% increase in FDI attraction increases economic growth by 0.004%; similarly, air transport and oil rent from KSA increased economic growth by 0.547% and 0.005%, respectively. These outcomes are indicative of the GDP growth ambition of the KSA economy in order to intensify FDI attraction and the air transportation sector. However, we also observe that increases in CO2 emission increase GDP growth. Thus, this suggests that the economic growth in KSA is not green, indicating the need for green economic growth pursuit targets. Full article
(This article belongs to the Special Issue Energy Transition amidst Global Energy Demand and Trade Studies)
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23 pages, 10246 KiB  
Article
El Niño, La Niña, and the Forecastability of the Realized Variance of Heating Oil Price Movements
by Mehmet Balcilar, Elie Bouri, Rangan Gupta and Christian Pierdzioch
Sustainability 2021, 13(14), 7987; https://doi.org/10.3390/su13147987 - 16 Jul 2021
Cited by 6 | Viewed by 1831
Abstract
We use the heterogenous autoregressive (HAR) model to compute out-of-sample forecasts of the monthly realized variance (RV) of movements of the spot and futures price of heating oil. We extend the HAR–RV model to include the role of El Niño and La Niña [...] Read more.
We use the heterogenous autoregressive (HAR) model to compute out-of-sample forecasts of the monthly realized variance (RV) of movements of the spot and futures price of heating oil. We extend the HAR–RV model to include the role of El Niño and La Niña episodes, as captured by the Equatorial Southern Oscillation Index (EQSOI). Using data from June 1986 to April 2021, we show evidence for several model configurations that both El Niño and La Niña phases contain information useful for forecasting subsequent to the realized variance of price movements beyond the predictive value already captured by the HAR–RV model. The predictive value of La Niña phases, however, seems to be somewhat stronger than the predictive value of El Niño phases. Our results have important implications for investors, as well as from the perspective of sustainable decisions involving the environment. Full article
(This article belongs to the Special Issue Energy Transition amidst Global Energy Demand and Trade Studies)
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