Dual impact of renewable energy and oil production on environmentally sustainable development goals

Imposing versus Enacting Commitments for the Long‐Term Energy Transition: Perspectives from the Firm

The <scp>SDGs</scp>: A change agenda shaping the future of business and humanity at large

BackgroundThe Philippines is making a significant stride to become energy independent by developing more sustainable sources of energy. However, investment in renewable energy is challenged by competitive oil prices, very high investment cost for renewable energy, and high local electricity prices. This paper evaluates the attractiveness of investing in renewable energy sources over continue using oil for electricity generation.MethodsThis paper uses the real options approach to analyze how the timing of investment in renewable energy depends on volatility of diesel price, electricity price, and externality for using oil.ResultsThe result presents a positive net present value for renewable energy investment. Under uncertainty in oil prices, dynamic optimization describes how waiting or delaying investment in renewables incurs loses. Decreasing the local electricity price and incorporating negative externality favor investment in renewable energy over continuing the use of oil for electricity generation.ConclusionsReal options approach highlights the flexibility in the timing of making investment decisions. At the current energy regime in the Philippines, substituting renewable energy is a better option than continue importing oil for electricity generation. Policies should aim at supporting investment in more sustainable sources of energy by imposing externality for using oil or decreasing the price of electricity.

The global shift toward sustainable energy highlights the critical role of renewable energy systems (RES) in addressing climate change, energy insecurity, and economic development. This study conducts a techno-economic assessment of solar photovoltaic (PV), wind, and biomass energy systems in Nigeria, examining their potential contributions to the United Nations Sustainable Development Goals (SDGs). Secondary data from international and national energy agencies, complemented by peer-reviewed literature, were analyzed to evaluate technical feasibility, economic viability, and developmental impact. Findings reveal that solar PV holds the greatest promise due to Nigeria’s high solar irradiance and rapidly declining costs, while wind and biomass provide complementary options in specific regions and rural areas. Levelized cost of electricity (LCOE) analysis indicates that renewable energy technologies are increasingly competitive with fossil fuels, with solar PV and wind now achieving cost parity. Beyond economic viability, renewable energy expansion contributes significantly to SDGs, particularly SDG 7 (Affordable and Clean Energy), SDG 8 (Decent Work and Economic Growth), SDG 11 (Sustainable Cities and Communities), and SDG 13 (Climate Action). The study concludes that renewable energy adoption is both a strategic and practical pathway to sustainable development in Nigeria. However, infrastructural limitations, inconsistent policies, and financing barriers continue to constrain progress. It recommends strengthening regulatory frameworks, promoting innovative financing models, investing in grid and off-grid infrastructure, and fostering public awareness and community participation. This research underscores the urgency of accelerating renewable energy deployment to enhance energy security, stimulate green growth, and position Nigeria to achieve its SDG commitments by 2030.

The objectives of the study are: To explore strategies for sustainable development in Nigeria's offshore petroleum industry. To focus on the roles of eco-innovation and renewable energy investment in driving sustainability in the sector. To assess the political, economic, social, technological, legal, and environmental (PESTLE) factors influencing eco-innovation and renewable investments. To discuss multiple case studies of the Nigerian offshore petroleum industry to highlight key sustainable practices and challenges. To propose coordinated efforts among stakeholders to create a conducive environment for sustainability in offshore oil and gas operations. A PESTLE analysis is employed to examine the external factors (Political, Economic, Social, Technological, Legal, Environmental) affecting the adoption of eco-innovation and renewable energy in the Nigerian offshore petroleum industry. In strategic management a PESTLE analysis is common tool for assessing exogenous influences on market development prospect and as such it was seen as a transferable tool for analyzing the eco innovation and the role of renewable investments in Nigerian offshore Petroleum Industry. Multiple case studies are analyzed to provide real-world insights into sustainable practices, challenges, and opportunities within Nigeria's offshore sector. Data from regulatory frameworks such as the Petroleum Industry Act (PIA) and economic policies related to energy incentives are included in the analysis. The Nigerian offshore petroleum industry faces numerous challenges, including environmental degradation, high operational costs, and limited technological infrastructure. Regulatory frameworks, such as the Petroleum Industry Act (PIA), play a key role in driving the adoption of sustainable practices. Economic incentives, such as tax breaks and subsidies, are essential for fostering investment in eco-innovation and renewable energy. Technological barriers, including the lack of advanced infrastructure and R&amp;D, remain a significant challenge to adopting sustainable practices. Coordinated efforts involving government, industry, and local communities are essential for overcoming these challenges and fostering sustainable development in offshore operations. The study adds value by providing a comprehensive PESTLE analysis focused on the Nigerian offshore petroleum industry. It includes multiple case studies that offer practical insights into the challenges and successes of eco-innovation and renewable energy adoption in the sector. The findings emphasize the need for collaboration among stakeholders to drive sustainable development, highlighting the importance of both policy enforcement and technological advancement.

The recent global recession due to Covid-19 has led to a drop in natural resource prices, which has contracted energy demand. Amid this concern, environmentally sustainable renewable energy projects have become uncompetitive and an obstacle to achieving the Sustainable Development Goals (SDGs). Following the nonlinear autoregressive distributed lag (NARDL) model proposed by Shin et al. (2014), to asymmetrically explore the impact of green bonds on renewable energy investment and environmental pollution and the impact of renewable energy consumption on environmental degradation in China over the period 1970–2020.​ The results show that the expansion of green bonds (GB+) significantly promotes renewable energy investment and reduces environmental pollution, while the contraction of green bonds (GB−) significantly reduces renewable energy investment and stimulates environmental damage. Likewise, expansion of renewable energy consumption (REC+) significantly reduced environmental degradation, while contraction of renewable energy consumption (REC−) significantly contributed to environmental degradation. Moreover, the result also validates the existence of inverted U-shaped EKC hypothesis in China The VECM Granger causality test indicate that renewable energy investment, green finance, renewable energy consumption, CO2 emission, and Gross Domestic Product (GDP) have long term causality. Chinese policymakers must focus on strengthening green finance, which will encourage renewable energy investment and renewable energy generation. Moreover, renewable electricity output greatly facilitates renewable energy investment, so China must innovate policies to take into account renewable electricity rather than fossil fuel generation in order to achieve the Sustainable Development Goals (SDGs).

Rwanda’s Off-Grid Solar Performance Targets

The latest progress summary of sustainable development goals (SDGs) in 2023 reveals that the ongoing growth pattern of Asian economies is inadequate. Asian countries are facing several challenges in securing the targets of SDGs, and environmental degradation is one of the major issues among them. Hence, urgent actions are required to attain SDG targets. Several studies in the available literature have considered multiple determinants of environmental degradation. However, the impact of green production practices (GPP) and geopolitical risk (GPR) is relatively ignored particularly in the framework of Asian economies. Therefore, it is needed to propose an extensive policy framework for attaining the objectives of SDGs and raising environmental quality. Moreover, this study is a pioneering attempt that scrutinizes the eclectic influence of green production practices and geopolitical risk on carbon emissions. The study follows the model based on the environmental Kuznets curve (EKC) hypothesis for selected Asian countries. The study has utilized the Panel Quantile Regression (PQR) technique to analyze the facts from selected Asian economies from 1990 to 2020. The long-run evaluations reveal the EKC hypothesis proves valid in the preferred Asian economies. Moreover, green production practices play a crucial role in controlling the rising levels of carbon emissions in the selected Asian countries whereas, geopolitical risk and foreign direct investments are proven constructive elements in raising carbon emissions. Lastly, based on the empirical outcomes, this study provides policy implications for achieving the targets of SDG 07, SDG 09, SDG 12, SDG 13, SDG 15, SDG 16, and SDG 17.

This study investigates the alignment of research on small island developing states (SIDSs) with sustainable development goals (SDGs), identifying key focus areas, interdisciplinary connections, research gaps, thematic clusters, and insights from case studies. By employing a mixed methods research design that combines quantitative scientometric analysis with qualitative case studies, this unique study examines the nexus between SIDS research and its contribution to SDGs. The findings reveal that SDG 13 (climate action) and SDG 14 (life below water) dominate SIDS research, emphasizing the need to address climate challenges and marine biodiversity. Economic aspects are underscored by SDG 8 (decent work and economic growth) and SDG 12 (responsible consumption and production), while urban development and inequality are addressed through SDG 11 (sustainable cities and communities) and SDG 10 (reduced inequalities). Renewable energy and food security are focal points in SDG 7 (affordable and clean energy) and SDG 2 (zero hunger). Moderate research outputs in SDG 3 (good health and well-being) and SDG 15 (life on land) suggest a holistic approach, while lower activity in SDGs 16 (peace), 6 (clean water), 4 (education), and 5 (gender) presents opportunities for further exploration. SIDS research is highly interdisciplinary, as seen through three distinct SDG networks: foundational social goals, economic and environmental objectives, and environmental preservation. The thematic clusters in SIDS research include environmental challenges and adaptation, public health, and socioeconomic development, and energy policy and environmental economics. Case studies from various SIDSs illustrate the complex interplay between environmental sustainability, economic development, and social well-being, highlighting the importance of tailored approaches, international cooperation, and local community engagement. These findings underscore the need for integrated research strategies to address the complex challenges of SIDSs, emphasizing climate action, sustainable economic practices, and comprehensive development approaches to achieve the SDGs effectively.

Reforming fossil fuel subsidies requires a new approach to setting international commitments

Renewable energy is a critical enabler of global efforts to achieve the United Nations’ Sustainable Development Goals (SDGs), serving as a foundation for addressing social, economic, and environmental challenges. This review explores the multifaceted role of renewable energy in driving progress across several SDGs, particularly SDG 7 (Affordable and Clean Energy) and SDG 13 (Climate Action), while also contributing to goals such as poverty alleviation (SDG 1), improved health outcomes (SDG 3), economic growth (SDG 8), and sustainable cities (SDG 11). The transition to renewable energy sources—such as solar, wind, hydropower, and geothermal—offers pathways to reduce global carbon emissions, mitigate climate change, and ensure universal access to clean energy. In addition, renewable energy projects promote economic empowerment through job creation and rural electrification, driving inclusive growth in underserved communities. The integration of renewable energy in urban planning also supports sustainable development in cities. However, the adoption of renewable energy faces barriers such as high initial investment costs, technological limitations, and regulatory challenges. This review discusses strategies to overcome these obstacles, emphasizing the importance of supportive policy frameworks, international cooperation, and public-private partnerships. It highlights successful case studies from countries that have leveraged renewable energy to make significant strides toward the SDGs, offering valuable insights for global implementation. As the world approaches the 2030 deadline for the SDGs, renewable energy remains a vital driver of sustainable development, providing innovative solutions to complex global issues while fostering a cleaner, more equitable future.

Universities play a pivotal role in modern society and must lead the way in achieving energy efficiency, directly contributing to the Sustainable Development Goals (SDGs). Like small towns in resource consumption and population mobility, many universities and research centers face significant challenges transitioning to renewable electricity systems. This study aims to (i) map the current scientific literature on renewable energy sources used by universities; (ii) discuss the drivers, barriers, and trends of implementing renewable energy; and (iii) establish a connection with the SDGs. More specifically, the authors conducted a systematic literature review based on three stages: (i) data collection, (ii) bibliometric analysis, and (iii) content analysis. Forty-two articles were obtained and defined as the studied sample. The findings of this review illuminate critical research themes, leading countries in renewable energy adoption, and the prevalent electricity sources, shedding light on the primary authors shaping the discourse. Wind and solar energy exhibit a notable growth trajectory, offering environmentally friendly alternatives compared to conventional sources. Furthermore, it is essential to highlight that the distribution of research documents in the sample is uneven, with a predominant concentration in European countries. Additionally, the study identifies the field’s key drivers, barriers, and emergent trends. The theoretical contributions encompass a comprehensive compilation of renewable energy sources, discernible research trajectories, and strategies to navigate obstacles. In practical terms, this work offers valuable insights for the selection of energy sources and stakeholder engagement, facilitating informed decision-making processes. This article’s novelty lies in its holistic examination of renewable energy adoption in university settings, providing a comprehensive overview of the current landscape and actionable insights for stakeholders seeking sustainable energy solutions within these institutions. This aligns with multiple SDGs, including Goal 7 (Affordable and Clean Energy), Goal 11 (Sustainable Cities and Communities), and Goal 13 (Climate Action), underscoring the critical role of universities in driving sustainable development.

This bibliometric study analyzes 1433 former reviews on Sustainable Development Goals (SDGs) and Sustainability, providing a comprehensive overview of the evolving research landscape in this domain. Notably, we observe a substantial annual growth rate of 74% in publications and a remarkable 171% increase in total citations from 2016 to 2022, reflecting a growing interest in this area. We identify the leading countries and institutions contributing to quantitative reviews on SDGs and Sustainability. SDG 12 (Sustainable Consumption and Production) emerges as the most extensively studied and is highly represented in influential journals like Sustainability and the Journal of Cleaner Production. Across various research fields, SDGs 12 and 11 (Sustainable Cities and Communities) stand out, with SDGs 4 (Quality Education), 5 (Gender Equality), and 15 (Life on Land) showing significance in specific domains. Thematic analysis reveals key topics like environmental protection, circular economy, life cycle assessment, and supply chain management, with strong connections to SDG 12. Further clusters highlight environmental management, renewable energy, and energy policy linked to SDG 7 (Affordable and Clean Energy), along with a smaller cluster focusing on urbanization driven by SDG 11. Network analysis emphasizes the critical roles of SDGs 12 and 9 (Industry Innovation and Infrastructure) in achieving a sustainable future. However, alternative social network indicators highlight the potential influence of SDGs 8 (Decent Work and Economic Growth), 16 (Peace, Justice and Strong Institutions), and 17 (Partnerships for the Goals) on other goals. Intriguingly, mainstream SDG research predominantly focuses on SDGs 3 and 7, presenting challenges due to the volume and complexity of related publications. While SDG 7 could find suitable outlets in leading journals, addressing SDG 3’s (Good Health and Well Being) complexity remains a formidable task. Nevertheless, conducting bibliometric studies on SDGs 3, 7, and 13 (Climate Action) offers promising opportunities in future if the associated challenges are addressed effectively.

Assessing the eco-efficiency of U.S. manufacturing industries with a focus on renewable vs. non-renewable energy use: An integrated time series MRIO and DEA approach

Sustainable development goal disclosures: Do they support responsible consumption and production?