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This study empirically examines the relationship between energy intensity, carbon emissions, renewable energy consumption, and economic growth for the case of Romania given the conflicting evidences in the literature between 1990 and 2014 on a quarterly basis. To this end, our study employs an autoregressive distributive lag (ARDL) model for cointegration, while direction of causality was achieved via the Toda–Yamamoto model. Empirical findings reveal cointegration among the variables under consideration. The causality results show feedback causality between energy intensity and economic growth while uni-directional causality is seen running from renewable energy consumption to economic growth. Thus, this study affirms the energy-led growth hypothesis. Therefore, our study corroborates with the current success story of Romania attaining her energy targets within two decades. However, there is need to sustain this milestone by further diversification of her energy portfolio into other cleaner energy sources.

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This study is anchored on the global best practice policies for achieving sustainable goals for Malaysia. Malaysia is among the countries that made commitment at 2015 United Nations Climate Change Conference to reduce its carbon emissions by 2030. This is expected to contribute to the country’s sustainable development. Malaysian quarterly data of 1992Q1–2019Q4 with relevant policy-based instruments (renewable energy policy, technological innovations, financial development, and entrepreneur activities) are adopted in our study for explicit and clear insight on the subject. Different scientific and analytical methods are equally applied in this study, but the focus and emphasis are laid on the findings from linear (dynamic ordinary least square, DOLS) and non-linear autoregressive distributed lag (NARDL) and Granger causality. Findings from both NARDL and DOLS confirmed the positive shocks of renewable energy policy, technological innovations, financial development, and entrepreneur activities are mitigating carbon emissions. Also, inverted U shape of EKC hypothesis is found for Malaysia. Findings from Granger causality support the findings from both estimates by establishing both feedback and unidirectional causal nexus among the instruments. From the finding myms, policy-based instruments are mitigating carbon emissions in Malaysia; thus, it will be a very good idea to frame policies around these instruments.

This study examines the convergence properties of CO2 intensity in EU-28 countries, using panel data for the period 1990 to 2016. We use Phillips and Sul's (2007) approach to test for CO2 intensity convergence and identify convergence clubs. In addition to the EU-28 members, we analyze the EU-15, and the new EU members (EU-new) that joined after 2004, as distinct groups for the periods 1990-2016, 1990-2004, and 2005-2016. Our results show no convergence to a single group among the EU countries during the full and two subsample periods. However, the convergence takes place within five to seven clubs for the EU-28 and within three to five clubs for the EU-15 and EU-new. There is no evidence of all members converging to a single club in either group or the three sub-periods examined. This study highlights the need for adopting new strategies considering club properties and for sustainable growth, which meets the EU-28 environmental regulation standards.

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