This work investigates the factors determining the Kazakh energy crisis which occurred in the second half of 2021. From the correlation observed among some data gathered to the purpose of the analysis, the relevant role played in this by cryptocurrency mining factories is identified. Beginning from June 2021, a massive number of them were relocated to Kazakhstan from the Popular Republic of China (PRC) because of normative restrictions introduced by the latter. The work also develops a reflection aimed at understanding the economic and environmental impact which has been produced by this relocation. The descriptive analysis will proceed as follows: the first section of the article will focus on the regulation of cryptocurrencies; the second section will focus on final electricity consumption and sup-porting empirical evidence and is closely related to the third and last section; the latter will focus on primary macro-economic indicators in relation to the increase in CO2 emissions in the Kazakh republic. To this end, it is useful to demonstrate a correlation between the energy crisis, the transfer of cryptocurrency mining to Kazakhstan, and to fuel the discussion regarding the need for a supranational institution with the aim of codifying a common international legislation, thus reinforcing the efforts made so far in this direction. Present and future implications and scenarios de-rived by the analysis are also introduced.
In accordance with UN sustainable development policies, this study examines the impact of energy democracy, energy equality, exports, globalization, financial development, and natural resources on economic growth patterns of high-income countries from 1997 to 2020. The study finds evidence of a long-run relationship among variables. Empirical estimations from FMOLS and DOLS models reveal that energy democracy, exports, globalization, and financial resources enhance economic progress, while natural resource consumption provides an opposite effect. This study suggests that high-income countries should promote community-based renewable energy projects and energy-efficient practices as well as implementing an adequate harmonisation of energy democracy policies and processes.
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