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Achieving a genuine energy transition and fostering inclusive green growth requires addressing the marginalisation of workers. Failing to do so is an ethical failure and a significant barrier to realising a just and sustainable future. The path to sustainable development and a green economy cannot be built on the exploitation or exclusion of those whose livelihoods are directly affected by these transformations. Genuine progress cannot be claimed if large segments of society are left to absorb the economic and social costs of decarbonisation. Sustainable development must be inclusive, ensuring that the benefits of the green transition are shared equitably, with no one left behind in pursuing both environmental and economic goals. This paper examines the role of the energy transition in mitigating labour marginalisation and promoting inclusive green growth, with a particular focus on developed countries. Our empirical strategy combines time series analysis with dynamic econometrics to explore the relationships between these variables. The findings indicate that the energy transition is a positive and statistically significant predictor of inclusive green growth. Conversely, labour marginalisation emerges as a significant negative predictor, impeding inclusive green growth. Policymakers should prioritise creating accessible, well-paid green jobs in renewable energy and environmental conservation, while also addressing job losses in the informal sector through the integration of inclusive green growth strategies. Implementing comprehensive social protection measures for workers displaced by the green transition is essential, ensuring their economic security during this transformation. Furthermore, strengthening institutional frameworks is essential for driving sustainable development and ensuring the green transition is inclusive and equitable and effectively promotes environmental quality.

Structural transformation is widely recognised as a fundamental driver of sustained economic growth. However, the existing literature …

A growing number of countries and organisations pledge net-zero emissions, yet climate change continues to drive biodiversity loss and extreme weather, causing devastation to communities. Wildfires, floods, and hurricanes claim lives, destroy homes, and disrupt livelihoods, while shifting climate patterns lead to agricultural failures and food shortages, worsening hunger. Our study examines the role of green policies and innovations in advancing the energy transition and achieving net-zero targets across 24 OECD countries. We employ three empirical strategies—standard specification, GMM dynamic estimation, and Quantile via Moment regression—while addressing endogeneity and cross-panel correlation through Hausman-Taylor and FGLS estimators. Our findings reveal that past carbon emissions exert a strong influence on current emission levels, underscoring the long-term impact of historical emission patterns. Green policies, innovations, renewable energy adoption, and inclusive human development all significantly contribute to reductions in carbon emissions, suggesting that tools such as green taxation and technological innovation are crucial for accelerating the transition to a low-carbon economy. However, the positive correlation between economic growth and fossil fuel dependence highlights the urgent need to decouple economic growth from environmental degradation. Reducing reliance on fossil fuels is imperative to addressing environmental challenges effectively. Therefore, prioritising sustainable policies and investments is essential not only for mitigating climate change but also for securing a resilient, low-carbon future.

Delayed government action is driving society towards a climate disaster. Without urgent and coordinated efforts to achieve net-zero emissions, the frequency and severity of wildfires, floods, and droughts will continue to escalate. Despite the increase in net-zero commitments, many governments still lack clear policies and decisive leadership, weakening initiatives and threatening a sustainable future for generations to come. This study examines the role of carbon taxes, renewable energy, and circular economy practices in shaping effective government actions and policies. Our empirical approach employs advanced econometric methods, integrating time-series analysis and dynamic modelling. We begin by analysing the behaviour of the data using time-series methods, followed by the application of standard panel specifications, including Pooled Ordinary Least Squares (POLS), fixed effects, Roger panel regression, White panel regression, and Driscoll-Kraay standard errors. To investigate both long- and short-term relationships, we employ Generalized Method of Moments (GMM) dynamic analysis, incorporating the augmented Arellano-Bond, Ahn-Schmidt, Arellano-Bond, and Arellano-Bover/Blundell-Bond estimators. Additionally, we use the TL-moment-adapted Machado-Silva Quantile via Moment regression model to examine asymmetric distribution patterns and heterogeneity across different data ranges. To enhance predictive accuracy, properly control for endogeneity, and correct potential cross-panel correlations, we apply alternative and complementary approaches, including the combined Balestra-Nerlove (BN) and Hausman-Taylor models, as well as the Feasible Generalized Least Squares (FGLS) estimator. Our findings underscore the lasting influence of past policy decisions on current climate policy trajectories. Specifically, while carbon taxes can sometimes undermine regulatory efforts to reduce emissions, the adoption of circular economy practices significantly enhances the overall effectiveness of climate policies. Furthermore, our analysis highlights the complex relationship between climate uncertainty and carbon tax implementation, suggesting that policy stability is crucial for facilitating a successful transition to renewable energy sources.

This paper examines the economic effects of foreign exchange (FOREX) restriction policy in Nigeria, using a new dataset from 2009 to 2019. Using the synthetic control method (SCM), we find that, after the policy implementation, Nigeria’s per capita GDP reduced by an average of $175.72 while inflation increased by 6.3% from 2015 to 2019 compared to the synthetic control countries without such policy. Regarding the restricted items, our results indicate that the policy led to a decrease in the trade value of imported items, except for imported processed vegetables. Furthermore, our analysis emphasizes that while the FOREX restriction policy appears to align with the Central Bank’s objective of reducing the importation of domestically producible items, it also sheds light on the consequential impacts of such policies. The observed decline in GDP per capita and the complex pattern of inflation highlight the need for a sophisticated and adaptable policy strategy. Policymakers should pay close attention to the macroeconomic dynamics and promote stability and growth in the face of changing economic conditions.

For decades, economists have advocated for growth initiatives, including the debt-growth hypothesis, which suggests that leveraging debt for infrastructure investments can spur growth. However, past generations often supported deficit spending to finance wars, social programs, and economic stimuli without fully considering the long-term consequences. While not entirely to blame, their policy choices, consumption habits, and resistance to necessary reforms have significantly contributed to the current debt crisis. This has resulted in future generations facing higher taxes, reduced public investment, economic instability, and inequity. This paper offers three critical contributions. First, it explores how infrastructure investments and business cycles influence debt sustainability within the context of fiscal rules. Second, it develops and estimates a robust macroeconomic model to evaluate the fundamental drivers of debt sustainability using advanced dynamic analysis. Third, it investigates asymmetric effects through Quantile-Quantile regression. The findings reveal that the relationship between infrastructure investment, business cycles, and debt sustainability varies across continents. Moreover, past debt sustainability emerges as a powerful and statistically significant predictor of current debt stability.

The relentless surge in carbon emissions is exacting a devastating toll on human wellbeing, critical infrastructure, and natural ecosystems, leaving a stark and distressing legacy of destruction. Communities worldwide are reeling from the impacts of pervasive smog, record-breaking wildfires, and deadly heatwaves—manifestations of a climate crisis that grows more severe by the day. Once a vanguard of environmental policy, the Organisation for Economic Co-operation and Development (OECD) now struggles with exceeding emissions targets, eroding its credibility and influence. Fragmented implementation of key frameworks—such as Inclusive Green Growth, the Circular Economy, and Energy Transition—has undermined their impact. The urgency of the moment was underscored by the report of COP29, which issued an unequivocal call to action for OECD nations to step up and lead with ambitious, unified strategies. Embracing inclusive green growth (IGG)—a paradigm that harmonizes economic development with environmental sustainability and social equity—offers a clear path forward. By integrating these elements into a cohesive response, the OECD can reignite its leadership role and drive meaningful progress toward a sustainable future. This paper advocates for a unified strategy integrating IGG, CE, and ET to achieve carbon neutrality. It introduces a streamlined environmental model designed to assess the effectiveness of this integrated approach rigorously. Drawing on data from 24 countries between 2000 and 2020, and employing advanced time series and dynamic analysis, this study offers theoretical and empirical insights into the interactions among the key variables. The results show that integrated policies significantly enhance the effectiveness of green growth and energy transitions, ensuring equitable benefits across all societal segments, including marginalized communities. By addressing the complex, interrelated nature of sustainability challenges, these policies offer a robust framework consolidating diverse perspectives and expertise, driving transformative and profound change.

The African continent, renowned for its diverse landscapes and abundant biodiversity, grapples with a critical environmental challenge – deforestation. The swift depletion of forests, serving as the primary habitat for 80% of the world’s terrestrial animals and plants, poses a severe threat in Africa. Human activities, including logging, agricultural expansion, and urbanization, have jeopardized numerous ecosystems, exacerbating the overarching global climate crisis. Beyond serving as mere collections of trees, forests are intricate ecosystems supporting a staggering diversity of flora and fauna. The repercussions of forest loss in Africa are profound, resulting in a significant decline in biodiversity. Numerous species, some exclusive to these ecosystems and found nowhere else on the planet, now teeter on the brink of extinction. The predicament of deforestation in Africa is intimately intertwined with the broader global challenge of climate change. Urgency is paramount in addressing this crisis, as the loss of forests impacts not only local ecosystems but also exacerbates the overarching climate emergency. Reforestation emerges as a pivotal solution, offering an opportunity to reverse the damage inflicted on these vital ecosystems. This study examines whether forest natural resources can explain the environmental Kuznets curve hypothesis in African countries. The empirical strategy is based on the second-generation cointegration approach, cross-sectional dependency autoregressive distributed lag (CS-ARDL) and Augmented Mean Group (AMG) estimator. The findings show a potential long-run relationship between the forest rent and the environment. Further analysis highlights the importance of effective management of natural forest resources for improving environmental quality in Africa. We recommend that policymakers prioritize the restoration of ecosystems that have suffered carbon depletion due to human activities. Restoration efforts should strategically aim to enhance carbon sequestration capacity and rebuild biodiversity. Additionally, the establishment of robust monitoring and reporting systems is imperative to track current carbon emissions from forests. This entails regular assessments of forest carbon stocks, land-use changes, and the effectiveness of ongoing conservation and restoration initiatives.

This paper examines the role of the circular economy and inclusive green growth in promoting energy transition and carbon neutrality for several European countries during 2009–2021, using an advanced econometric strategy. To achieve this objective, we employed a three-pronged empirical strategy. The first strategy involved standard panel specifications, such as pooled ordinary least squares, Fixed Effects, Roger panel regression, white panel regression, and Driscoll–Kraay standard errors. The second strategy explored the long- and short-term dynamics of the relationships using the dynamic specifications of the Generalised Method of Moments, comprising the augmented Arellano–Bond, Ahn–Schmidt, Arellano–Bond, and Arellano–Bover/Blundell–Bond estimators. It further controls for endoegeneity using the Two stages Lease Square (2SLS and Lewbel 2SLS). The third strategy employed the Machado and Silva quantiles via moments to re-evaluate the heterogeneity drivers of carbon neutrality. Furthermore, an alternative and complementary strategy based on the statistical procedures of Hausman–Taylor and Feasible Generalized Least Squares was employed to verify robustness. The findings suggest that prior carbon emissions positively predict future emissions. Also, our results reveal that the adoption of a circular economy, including green growth and renewable energy, can significantly contribute to reducing carbon emissions. In contrast, domestic economic drivers, and eco-innovation increase carbon emissions. We propose that policymakers mandate producers to oversee the entirety of their product life cycles as a means to mitigate carbon emissions. Furthermore, endorsing training programs and educational initiatives aimed at cultivating the requisite skills for the energy transition and the adoption of circular economy practices is imperative for ensuring the realization of a successful low-carbon economy.

Are monetary policy and financial development important prerequisities for realising a low carbon economy? The answer is yes, but this work argues that its importance rests on different associated mechanisms. We test this assertion by using a panel of 24 OECD countries, spanning the period 2000–2019. The analysis is framed in four empirical strategies. The first method involves employing standard panel specifications, which control for unobserved error term components. The second examines the long- and short-term dynamics of the relationships using Generalized Method of Moment (GMM) dynamic specifications. The third employs the Machado and Silva Quantile via Moment approach to reassess the drivers of carbon neutrality heterogeneity. Additionally, alternative and supplementary approaches based on statistical procedures, such as Hausman-Taylor and Feasible Generalized Least Squares, are carried out to test the robustness of the findings. The analysis indicates that lagged carbon emissions have a significant and positive impact on subsequent carbon emissions. The findings also suggest that both monetary policy and financial development are critical in mitigating carbon emissions. Conversely, an upsurge in the share price index is linked to an increase in carbon emissions. These findings underscore the significance of integrating monetary and financial development into a comprehensive strategy that considers both current and past carbon emissions to attain sustainable environmental outcomes.