Gravitating towards emission reduction targets in the G7 and E7 economies: the financial development and sustainable energy perspectives

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dc.authoridhttps://orcid.org/0000-0003-4948-6905en_US
dc.authoridhttps://orcid.org/0000-0003-1497-7835en_US
dc.contributor.authorGyamfi, Bright Akwasi
dc.contributor.authorAgozie, Divine Q.
dc.contributor.authorBekun, Festus Victor
dc.contributor.authorOnifade, Stephen Taiwo
dc.date.accessioned2024-03-31T01:27:27Z
dc.date.available2024-03-31T01:27:27Z
dc.date.issued2024en_US
dc.departmentİktisadi İdari ve Sosyal Bilimler Fakültesien_US
dc.description.abstractGovernments throughout the globe are confronted with climate change issues. In the wake of the climate change conference COP26—the Glasgow consensus, the criticality of attaining emission reduction targets to restrain global average temperature to 1.5 degrees has been reemphasized. Hence, we assessed these laudable climate action targets from the financial development and sustainable energy perspectives within the E7 and G7 economies. In lieu of this, the application of Augmented Mean Group (AMG) and Quantile regression techniques on annual frequency data from both blocs between 1990 and 2019 provide useful insights into the cruciality of financial development and renewable energy in CO2 mitigation toward attaining the 1.5°C vis-à-vis the net-zero emission goals. The empirical outcome shows that renewables create paths to emissions reduction targets in both blocs. Furthermore, financial development corroborates renewables’ emission reduction roles specifically in the E7. Additionally, renewables’ interactive roles with the expanding economic growth trajectory of both blocs also induce emission-mitigating effects. Finally, an inverted U-Shaped EKC phenomenon was validated. Hence, green growth policies corroborated by financial expansion strategies are recommended and deemed apt for attaining net-zero emission targets in these strategic economic blocs.en_US
dc.identifier.doi10.1080/15567249.2024.2323191en_US
dc.identifier.endpage21en_US
dc.identifier.issn1556-7249
dc.identifier.issn1556-7257
dc.identifier.issue1en_US
dc.identifier.scopus2-s2.0-85187868163en_US
dc.identifier.scopusqualityQ1en_US
dc.identifier.startpage1en_US
dc.identifier.urihttps://hdl.handle.net/11363/7274
dc.identifier.urihttps://doi.org/
dc.identifier.volume19en_US
dc.identifier.wosWOS:001184694600001en_US
dc.identifier.wosqualityN/Aen_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.institutionauthorBekun, Festus Victor
dc.language.isoenen_US
dc.publisherTAYLOR & FRANCIS INC, 530 WALNUT STREET, STE 850, PHILADELPHIA, PA 19106en_US
dc.relation.ispartofENERGY SOURCES PART B-ECONOMICS PLANNING AND POLICYen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectFinancial developmenten_US
dc.subjectsustainable environmenten_US
dc.subject1.5°C & net-zero emissionen_US
dc.subjectrenewable energyen_US
dc.subjectE7 & G7 economiesen_US
dc.titleGravitating towards emission reduction targets in the G7 and E7 economies: the financial development and sustainable energy perspectivesen_US
dc.typeArticleen_US

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