Evaluating environmental commitments to COP21 and the role of economic complexity, renewable energy, financial development, urbanization, and energy innovation: Empirical evidence from the RCEP countries

An outlook on the development of renewable energy, policy measures to reshape the current energy mix, and how to achieve sustainable economic growth in the post COVID-19 era

“…Although the renewable energy sector has not shown a significant decline since the COVID-19 outbreak, IEA estimates that the renewable energy sector will contract by around 13%, with the breakdown of supply chains and limitations on construction activities having a significant impact (Cherp & Jewell 2020 ). IEA also reports that overall energy expenditures declined by 20% in 2020 alone (Bashir et al 2022a ).…”

“…With the slackening production of solar panels in Australia, China, and India up to 17–48%, solar installations declined as expected in 2020 (Singh 2020 ). The disruptions of solar photovoltaic power have interrupted manufacturing in Italy, Spain, and other leading producers as well (Bashir et al 2022a ), with consumption of material in solar arrays and solar panels negatively impacting Singapore, South Korea, Thailand, Malaysia, and Vietnam (Vaka et al 2020 ) with the production of solar panels which is expected to decrease considerably in the USA, who imports 90% of raw material required. South Africa is also expected to undergo a similar experience where mega-solar projects have been shelved due to disruptions in the supply of the photovoltaic (PV) systems from China (Bashir et al 2021g ; Carrington et al 2020 ) which generates around 70% of raw material with Chinese firms working in Southeast Asia which account for another 10–15% of the global share.…”

“…A report published by the International Renewable Energy Agency (IRENA) indicated that the slower than expected growth in renewable and environmental technology had slowed the progress towards global sustainable goals as material shortages, production shutdown, and higher costs in the renewable energy sector being key attributes (ICIS 2020 ). Hence, circumstances like these have led to potential conflict from policymakers as more and more countries are exploring to carry on RETs or, despite the ecological indicators, resort back to fossil fuel consumption (Bashir et al 2022a ).…”

Policy insight from renewable energy, foreign direct investment (FDI), and urbanization towards climate goal: insight from Indonesia

“…The study encourages sustainable urbanization and the use of green resources to stimulate economic stability without impacting the environment negatively. According to Bashir et al ( 2022 ), urbanization activities may have a positive impact on environmental problems by increasing pollutants in urban areas. Also, Balsalobre-Lorente et al ( 2022 ) indicated that urbanization have an adverse impact on the environment.…”

Oil price shocks, stock market returns, and volatility spillovers: a bibliometric analysis and its implications

“…In recent years, energy demand from European and North American economies has slowed down considerably, and the demand for energy resources has shifted to the emerging Asian economies. According to Bashir et al ( 2022 ), although the growth in demand for energy resources has slowed down, the share of oil in energy has increased steadily in recent years as oil demand has increased significantly in 2018 and 2019, with daily oil consumption of 96.5 million barrels. The USA has the largest share of world oil consumption with 20.3%, followed by China and India with 12.8% and 4.6% (Xia et al 2022 ).…”