The last years are distinguished by increasing the awareness of companies towards sustainable business, going beyond their traditional role of providing goods and services at competitive prices to meet customer requirements. Thus, companies will have to consider the effects of their best practices on the environment and society, in order to contribute to the progress of society and the protection of the environment, the essence of sustainable development being the coexistence of economic and social relations and environmental protection by implementing economic, social and environmental objectives. We can see that every company that seeks to become sustainable must consider approaches based on sustainable business practices geared to meeting customer needs. For companies listed on the stock market, the index that stands next to each company is the one that shows the level of sustainability, through corporate sustainability, long-term value is created for shareholders, taking into account all social factors, those related to the environment, as well as economic ones. All these considerations have led to the establishment of the general objective of the paper, through which the authors aim to explain and present the importance of sustainability/sustainable development in energy companies in conjunction with the UN guidelines on business and human rights, which will address with priority to the Sustainable Development Goals (SDGs) for 2030.
Over the last decades, all countries have pursued an ambitious climate policy, thus showing a growing concern about climate change, global warming, greenhouse gas (GHG) emissions, or environmental taxes. Water, air, and soil pollution caused by gas emissions directly affect human health, but also the economies of states. As people’s ability to adapt to novel changes becomes increasingly difficult, globally, they are constantly trying to reduce their greenhouse gas emissions in a variety of ways. Environmental taxes, in general, and energy taxes, in particular, are considered effective tools, being recommended by specialists, among other instruments used in environmental policy. The aim of this research is to assess, empirically, the influence of environmental taxes levels on greenhouse gas emissions in 28 European countries, with a time span between 1995 and 2019. Regarding the empirical research, the proposed methods are related to Autoregressive Distributed Lag (ARDL) models in panel data and also at country level. At panel level, we used the estimation of non-stationary heterogeneous panels and also the dynamic common-correlated effects model with heterogeneous coefficients over cross-sectional units and time periods. The results obtained show that the increase in environmental taxes leads, in most countries, to a decrease in greenhouse gas emissions. To test the robustness of our results, we have included supplementary economic and social control variables in the model, such as gross domestic product (GDP), population density, exports, or imports. Overall, our paper focuses on the role of environmental policy decisions on greenhouse gas emissions, the results of the study showing, in most cases, an inverse impact of the taxation level on the reduction of gas emissions.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.