Explaining the environmental efficiency capability of energy mix innovation among the Nordic countries

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dc.authoridBekun, Festus Victor/0000-0003-4948-6905
dc.authoridalola, andrew/0000-0001-5355-3707;
dc.contributor.authorAlola, Andrew Adewale
dc.contributor.authorFestus Victor, Bekun
dc.contributor.authorObekpa, Hephzibah Onyeje
dc.contributor.authorAdebayo, Tomiwa Sunday
dc.date.accessioned2024-09-11T19:50:53Z
dc.date.available2024-09-11T19:50:53Z
dc.date.issued2024
dc.departmentİstanbul Gelişim Üniversitesien_US
dc.description.abstractImproving the environmental efficiency performance of energy mix is important to the global carbon neutrality goal. Given this motivation, this study delves into providing more explanation about the role of innovation approaches to coal, oil, and natural gas energy resources in the Nordic economies i.e., Denmark, Finland, Norway, and Sweden during the period 2000-2019. To achieve this objective and reach an evidence-based insight for policy formulation, the present study leveraged robust panel econometrics estimators that circum-vent cross-sectional dependence and heterogeneity issues in the investigated blocs. The empirical evidence shows that economic growth (GDP), coal energy, oil and natural gas contribute to the Nordic economies' environmental degradation in the short-and long-run. Contrarily, innovation via environmental-related patents mitigates environmental degradation, especially in the long run. Furthermore, the interaction models, i.e., applying innovative approaches in the energy mix's consumption, can mitigate carbon emissions across the countries, thus significantly improving environmental sustainability. Specifically, innovative approaches in coal, oil, and natural gas consumption improve environmental sustainability by mitigating carbon emissions, thus delivering respec-tive environmental efficiency improvements of-94%,-108%, and-123%. Additionally, Granger causality evidence further suggests that the examined factors are significant drivers of the environmental indicator. Regarding policy insight, this study affirms that further improvement in energy savings is vital to continuously deploying the conventional energy mix.en_US
dc.identifier.doi10.1016/j.egyr.2023.11.051
dc.identifier.endpage239en_US
dc.identifier.issn2352-4847
dc.identifier.scopus2-s2.0-85178618888en_US
dc.identifier.startpage233en_US
dc.identifier.urihttps://doi.org/10.1016/j.egyr.2023.11.051
dc.identifier.urihttps://hdl.handle.net/11363/7695
dc.identifier.volume11en_US
dc.identifier.wosWOS:001134575400001en_US
dc.identifier.wosqualityQ2en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.language.isoenen_US
dc.publisherElsevieren_US
dc.relation.ispartofEnergy Reportsen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.snmz20240903_Gen_US
dc.subjectEnergy efficiencyen_US
dc.subjectEnvironmental -related innovationen_US
dc.subjectCarbon emissionen_US
dc.subjectEnergy mixen_US
dc.subjectNordic economiesen_US
dc.titleExplaining the environmental efficiency capability of energy mix innovation among the Nordic countriesen_US
dc.typeArticleen_US

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