Global Energy Transformation and the Impacts of Systematic Energy Change Policy on Climate Change Mitigation

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dc.authoridKaradağ, Haydar/0000-0003-2398-7314
dc.authoridSIT, MUSTAFA/0000-0001-9694-0547
dc.contributor.authorGunes, Hakan
dc.contributor.authorSimba, Hamis Miraji Ally
dc.contributor.authorKaradag, Haydar
dc.contributor.authorSit, Mustafa
dc.date.accessioned2024-09-11T19:53:11Z
dc.date.available2024-09-11T19:53:11Z
dc.date.issued2023
dc.departmentİstanbul Gelişim Üniversitesien_US
dc.description.abstractThis study aims to evaluate the effect of global energy transformation and systematic energy change on climate change. The model is constructed from dynamic panel data which comprises 26 world regions from the World Database Indicators (WDIs), International Energy Atomic (IEA), and International Monetary Fund (IMF), with a span from 2005 to 2022. The Generalized system Method of Moment (sys-GMM) and pooled OLS and random effect models have been used to empirically evaluate the linked effect of global transformation and systematic change on climate change. The sys-GMM approach is used to control the endogeneity of the lagged dependent variable when there is an association between the exogenous variable and the error term. Furthermore, it omits variable bias, measurement errors in the estimation, and unobserved panel heterogeneity. The econometric applications allow us to quantify the direct effect of global transformation and systematic change on climate change. The empirical analysis revealed that renewable energy, alternative energy, technology and innovation, and financial climate have a negative effect on climate change. It means that increasing consumption of the transformation energies leads to reducing the effect of climate change. However, fossil energy is statistically significant and positively affects climate change. Increasing the consumption of fossil energy raises the effect of climate change. There is a global need for massive decarbonization infrastructure that will help minimize the global warming that leads to climate change. Policies that take an endogenous approach through global transformation and systematic change should be implemented to reduce the effect of climate change. The policy should reduce the consumption of non-renewable energy and increase the consumption of renewable energy.en_US
dc.identifier.doi10.3390/su151914298
dc.identifier.issn2071-1050
dc.identifier.issue19en_US
dc.identifier.scopus2-s2.0-85174185784en_US
dc.identifier.urihttps://doi.org/10.3390/su151914298
dc.identifier.urihttps://hdl.handle.net/11363/8089
dc.identifier.volume15en_US
dc.identifier.wosWOS:001082995400001en_US
dc.identifier.wosqualityQ2en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.language.isoenen_US
dc.publisherMdpien_US
dc.relation.ispartofSustainabilityen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.snmz20240903_Gen_US
dc.subjectglobal energy transformationsen_US
dc.subjectsystematic energy changesen_US
dc.subjectclimate changesen_US
dc.subjectsys-GMMen_US
dc.titleGlobal Energy Transformation and the Impacts of Systematic Energy Change Policy on Climate Change Mitigationen_US
dc.typeArticleen_US

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