Impact of Sustainable Financial and Economic Development on Greenhouse Gas Emission in the Developed and Converging Economies

Zioło, Magdalena; Kluza, Krzysztof; Spoz, Anna

doi:10.3390/en12234514

Cited by 14 publications

(13 citation statements)

References 58 publications

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“…Explanatory variables were divided into three groups distinguishing variables that represent financial sector development, related fiscal and socioeconomic conditions, and research and development activities by governments in the linked fields. The study was based on the selected indicators used to monitor the implementation of the objectives of the Agenda for Sustainable Development 2030 (Agenda 2030) [18,19]. They are presented in Table 1.…”

Section: Methodsmentioning

confidence: 99%

“…They are presented in Table 1. The authors deliberately excluded from the analysis any variables more directly related to environmental characteristics of economies, such as "share of renewable energy in gross final energy consumption" and "energy productivity" [19]. Thus, our study was focused entirely on the effects that can be transmitted through social, economic, or financial channels.…”

Section: Methodsmentioning

confidence: 99%

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Patterns of Interdependence between Financial Development, Fiscal Instruments, and Environmental Degradation in Developed and Converging EU Countries

Zioło

Kluza

Kozuba

et al. 2020

IJERPH

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Environmental risks, in particular climate change and environmental pollution, are among the key challenges faced by modern governments nowadays. Environmental risks are associated with specific costs and expenditures necessary to mitigate their negative effects. In this context, the financial system plays a significant role, particularly the public financial system, which allocates and redistributes public resources and has an impact on market participants by imposing environmental taxes. This study assessed the interdependence between environmental degradation and public expenditure, financial sector development, environmental taxes, and related socioeconomic policies. The aim was to diagnose and define the relationship between environmental degradation and sustainable fiscal instruments used in the financial system. The original research approach adopted in the study is the inclusion of variables representing a sustainable approach to assessment of the financial system. Two groups of European Union countries were analyzed for the period 2008–2017, namely, converging economies from Central and Eastern Europe and the largest developed economies of Western Europe. The authors found a strong relationship between greenhouse gas emissions and fiscal instruments, especially expenditure on research and development, and the development of the financial sector. In the case of environmental taxes, their impact differed depending on the country, being predominantly beneficial in countries with higher greenhouse gas emissions but unfavorable in countries with lower emissions levels.

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Section: Methodsmentioning

confidence: 99%

Section: Methodsmentioning

confidence: 99%

Patterns of Interdependence between Financial Development, Fiscal Instruments, and Environmental Degradation in Developed and Converging EU Countries

Zioło

Kluza

Kozuba

et al. 2020

IJERPH

View full text Add to dashboard Cite

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“…The main purpose of these taxes is to minimise emissions up to an acceptable level of 5 percent [8]. Furthermore, the government introduced environmental and emission taxes to reduce negative externalities caused by third parties in production and consumption since nobody takes responsibility for creating them [9]. The negative externalities include pollution, land degradation and the greenhouse effect that tends to cause diseases, low standards of living, low quality of products, reduction in income and energy consumption [10].…”

Section: Introductionmentioning

confidence: 99%

The Environmental Influence of Tax Regimes in Selected European Union Economies

Ganda¹,

Garidzirai²

2021

Green Computing Technologies and Computing Industry in 2021

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Eurostat and the European Environmental Agency have in 2019 reported there is still need to continue implementing zero-carbon practices in European Union (EU) Countries although there has been a noted decrease of 22% in emissions when compared to their 1990 levels. This paper employed a system-Generalised Method of Moments (GMM) framework to evaluate the environmental impacts of tax systems in selected 28 EU economies from 2010 to 2017. The results of the study proved that aggregate environmental tax is not effectively lowering greenhouse gas emissions as expected, although it improves environmental sustainability. Possibly the environment tax revenue collected in the European Union countries was not used to enhance energy efficiency; hence it could not lower greenhouse gas emissions. The other findings demonstrate that when environmental tax is disaggregated (energy tax and transport tax) these instruments have been more efficient in lessening emissions and also improves environmental sustainability (in the case of transport tax). The paper, therefore, highlights the importance of adopting green tax instruments which are more focused and harmonising directly with environmental goals for EU economies.

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“…The European Union countries are highly diversified, which means that the pace of structural change and energy transformation will be adequate to the situation [69][70][71][72][73][74]. The structure of energy resources use is significantly different for selected EU countries, as presented in Figure 1.…”

Section: Literature Reviewmentioning

confidence: 99%

Differentiation of the Level of Sustainable Development of Energy Markets in the European Union Countries

Bluszcz

Manowska

2020

Energies

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The economic development of the EU’s countries depends on stable and permanent access to various energy sources. The integration of European energy markets is a long-term process. Each member country has a different energy balance, energy resources and electricity generation technologies. Therefore, comparing Member States with one another is a complex task. The article deals with organizing the set of objects in multidimensional spaces of variables from the point of view of a certain characteristics that cannot be measured in a simple way, i.e., the relative level of the development of energy markets. The following diagnostic variables were adopted for the analysis: consumption of electric energy generated from renewables per capita (TWH/person), hard coal consumption (million tons/person), greenhouse gas emissions per capita, available for final consumption gigawatt-hour per person, final energy consumption thousand tons of oil equivalent (TOE) per person, petroleum available for final consumption (gigawatt-hour), natural gas (terajoule gross calorific value-GCV) per person, energy intensity of GDP (kilograms of oil equivalent (KGOE) per thousand euro, import dependency %. The article draws upon the cluster analysis, which uses the methods and techniques that enable to extract such objects (countries) from the data set, which would be similar to each other and combine them into groups. The purpose of the article is to examine and discus the diversity of Member States on the level of development of energy markets taking into account the specific situation of Poland. The presented model has the potential to be used at the level of enterprises from various industries to evaluate the level of sustainable development. The algorithm modification will only require the selection of available diagnostic variables describing the given enterprise.

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Impact of Sustainable Financial and Economic Development on Greenhouse Gas Emission in the Developed and Converging Economies

Cited by 14 publications

References 58 publications

Patterns of Interdependence between Financial Development, Fiscal Instruments, and Environmental Degradation in Developed and Converging EU Countries

Patterns of Interdependence between Financial Development, Fiscal Instruments, and Environmental Degradation in Developed and Converging EU Countries

The Environmental Influence of Tax Regimes in Selected European Union Economies

Differentiation of the Level of Sustainable Development of Energy Markets in the European Union Countries

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