Limit CO2 Emissions Research Articles

Research on the energy transition pathways of the transportation sector in the Guangdong–Hong Kong–Macao Greater Bay Area, China

Energy transitions is an effective way to achieve sustainable development in the transportation sector. To explore the pathways to energy transitions in the Guangdong–Hong Kong–Macao Greater Bay Area (GBA) transportation sector, the article evaluated the potential of energy savings and CO2 emission reduction of different measures in a quantitative way, based on the long-range energy alternatives planning (LEAP) platform. The marginal abatement cost curves are used to visually reflect the cost–benefit of these measures, and to develop cost-effective pathways to energy transitions. The results show that the measures of transportation modes adjustment and private cars regulating should be prioritized due to the potential of significant emission reduction with good cost-effectiveness. The measures of promoting electricity and hydrogen energy have large emission reduction potential, but only those for road traffic are cost-effective, and should be treated with a lower priority. Considering the high cost, the measures of promoting biofuel should be implemented as least priority. Moreover, the measures of liquefied natural gas (LNG) application have good cost-effectiveness, as opposed to limited CO2 emission reduction potential. It can only be used as a transitional fuel for the energy transitions. The findings and research methodology will provide theoretical support for the formulation of transportation energy transition pathways in the GBA and other regions.

Do green innovation and governance limit CO2 emissions: evidence from twelve polluting countries with panel data decision tree model

We examine the effectiveness of green innovation on CO2 emissions in the top twelve polluting nations—China, the US, India, Russia, Japan, South Korea, Canada, Mexico, Turkey, Italy, Poland, and the UK—from 1996 to 2020. Using panel data fixed and random effect model and decision tree analysis, we found that industrialization, urbanization, and economic growth increase CO2 emissions, whereas green energy consumption and governance decrease CO2 emissions. In the panel data tree-based model, governance is in the second and third positions in the decision tree fixed, and random effect model. Green innovation is not statistically significant despite the expected negative sign. The findings suggest that policymakers should encourage investment in green energy production and governance to combat environmental degradation. Investment in green energy should be escalated to ensure energy efficiency in the long term.

Enhancing the integration of PV and coal-fired power plant for low-carbon, low-cost, and reliable power supply through various energy storage systems

The integration of photovoltaic (PV) system and coal-fired power plants (CFPP) through various energy storage systems (ESS) presents a promising strategy for achieving a low-carbon, low-cost, and reliable power supply. This study proposes a low-carbon power system that deeply integrates PV and CFPP through battery, thermal, and ammonia energy storage system (BESS, TESS, AESS). Multi-objective optimizations were conducted to minimize both the levelized cost of electricity (LCOE) and specific CO2 emission while considering constraints related to power supply reliability. Additionally, the influence of technological advancements on reducing LCOE was explored, providing insights into the developmental pathways of these energy storage technologies. The results indicate that: (1) The optimal selection of ESS is related to CO2 emission reduction targets. For less restrictive targets, it is economical to abandon ESS and rely entirely on PV and CFPP. As emission reduction targets progress, TESS becomes economically optimal. In scenarios with strict targets, BESS becomes economically optimal. (2) The combination of PV+CFPP+MultiESS demonstrates superior cost-effectiveness under high-reliability constraints, exhibiting a 7.6 % lower LCOE compared to PV+CFPP+SingleESS at a reliability level of ≥ 99 %. (3) Compared to CFPP retrofitted with CCS, the PV+CFPP+ESS integrated system is more economically favorable for less restrictive CO2 emission reduction targets. However, as the CO2 emission limits become stricter, the CCS-retrofitted technology becomes more economically favorable. (4) To enhance cost-competitiveness, developments should be directed toward reducing the unit investment cost of storage for BESS, while reducing the unit investment cost of power conversion system for AESS. As for TESS, technological advancements across various aspects can effectively contribute to its cost-competitiveness.

Evaluating the techno-economic feasibility of hydrogen-fuelled reciprocating engines for renewable base-load power generation

This study investigates the techno-economic feasibility of a photovoltaic power plant integrated with hydrogen energy storage and a dual-fuel reciprocating engine for gas-to-power and power-to-gas operations. The system is optimised for maximising constant grid supply, minimising CO2 emissions, and lowering the levelised cost of electricity (LCOE) to assess its value in future energy landscape. Multi-objective optimisation identified a configuration with a hydrogen-fuelled engine generator offering a constant 10 MW grid supply with minimal CO2 emissions (78 kg/MWh), at a LCOE of $335.52/MWh. This system comprises a 93 MW PEM electrolyser, a 4 MW compressor, and 29 t of compressed hydrogen storage, within the limits of the industry’s current or projected capacities. A key highlight of the engine-based approach is its ability to readily enhance grid supply through increased diesel consumption without significantly impacting LCOE, provided CO2 emissions stay within acceptable sector cap. This flexibility surpasses alternative technologies. Further analysis explored potential LCOE reductions using global projected data, bringing optimised LCOE values down to $138.76/MWh, making it competitive to current market prices. Sensitivity analysis revealed the LCOE’s highest sensitivity to the discount rate, followed by minimal impact from variations in fuel and electricity prices due to the optimised system configuration. Furthermore, the tightening CO2 emission limits do not affect the optimised system’s performance, except for limiting the maximum achievable grid supply in 2050 by increased diesel reliance.

Effect of liming on polycyclic aromatic hydrocarbons leaching from hydrocarbon-contaminated tectogenic industriosol

Soil stabilization/solidification is commonly employed remediation method for contaminated soils. Until now, limited attention has been given to the application of quicklime in polycyclic aromatic hydrocarbons (PAHs) contaminated soil. We treated a tectogenic industriosol spiked with 50 mg kg−1 of four PAHs (12.5 mg kg−1 each of fluorene (FLU), phenanthrene (PHE), fluoranthene (FLT) and pyrene (PYR)) using three different liming agents at 1% (w:w): quicklime (CaO), hydrated lime (Ca(OH)2) and carbonate calcium (CaCO3). All treated samples were leached in water at a solid-liquid ratio of 10, with subsequent analysis of leached soil and leachates for PAHs content. Results revealed that the addition of liming agents led to a reduction in FLU and PHE concentrations in treated soil by 6.81 ± 2.47% and 28.88 ± 4.18%, respectively, compared to a not-treated sol. However, no significant impact was observed on the 4-cycles PAHs (FLT and PYR). The addition of liming agents also significantly decreased the amount of PAHs in the leachate, by 100% for FLU and PHE, and by 74.9 ± 17.5% and 72.3 ± 34.8%, for FLT and PYR, respectively, compared to not limed soil. Among the liming agents, quicklime was the most effective in reducing the amount of 4 cycles PAHs in the leachate. Various mechanisms, such as encapsulation, volatilization and oxidation could contribute to this observed reduction. Quicklime treatment at a concentration of 1% w:w in PAHs-contaminated soil emerges as a promising technique to effectively reduce PAHs concentration in soils and mitigate PAHs mobility through leaching. This study also sheds light on the possibility to limit CO2 emissions and resources exploitation to assure the remediation process, thereby enhancing its overall environmental sustainability.

Communicating CC(U)S and UGS technologies: The case of deliberative group interviews in North-Western Poland

The paper presents the results of deliberative group interviews with the representatives of local communities in West Pomeranian Province (Poland) on the opportunities and challenges related to the theoretical location of combined CO2 and natural gas underground storage (CC(U)S and UGS) in their immediate vicinity. The research has been conducted within AGaStor Project that focuses on innovative usage of captured CO2 as a cushion for stored natural gas. Therefore, there are two possible benefits: active limitation of CO2 emissions (Poland is and will be dependent on conventional energy sources) and reduction of gas storage costs (by using waste CO2 as so-called cushion gas). However, previous experiences in these types of projects show the key role of local public opinion in the final shape of the investment.CC(U)S projects are usually located in less developed, less populated areas, with smaller, more rural local communities facing serious socio-economic challenges. This is the case presented in this paper. In such communities, socially expressed uncertainty and dissent are mechanisms of emancipation and articulating community's subjectivity, and a strategy for articulating fears of distrust and inadequacy of empowerment. The presented results of the research lead to four significant mechanisms of building trust for CC(U)S and UGS in West Pomeranian Province communities: a) communicating safety, b) communicating the lack of nuisances, c) communicating the benefits and d) transparent and competent knowledge transfer.

What drives environmental sustainability? The role of renewable energy, green innovation, and political stability in OECD economies

ABSTRACT One possible way to achieve environmental sustainability is by addressing the issue of rising CO2 emissions, which significantly cause climate change by intensifying the greenhouse gas effect. The Organization for Economic Cooperation and Development (OECD), which substantially contributes to global CO2 emissions, necessitates a paradigm shift towards using clean energy sources and promoting green innovations to ensure environmental sustainability. Thus, this study aims to inspect the role of renewable energy use, green technology innovation, political stability, and fiscal decentralization in attaining environmental sustainability by limiting CO2 emissions for seven OECD economies from 2000 to 2019. This study has employed the ‘Cross-Sectional Augmented Autoregressive Distributed Lag and Augmented Mean Group Estimator’ for robust empirical analysis. The results indicate that renewable energy use, political stability, and fiscal decentralization can mitigate CO2 emissions and ensure environmental sustainability in OECD economies. In contrast, green technology innovation exhibits an insignificant effect on CO2 emissions. Furthermore, the moderation effects of fiscal decentralization and political stability exhibit a negative relationship with CO2 emissions. Notably, this study advises OECD nations to encourage regional cooperation to ensure political stability and devolution of fiscal powers to promote green innovation and renewable energy use to achieve sustainable goals.

The use of the GEST method to estimate greenhouse gases uptake or emissions in the absence of data for a raised bog

The paper is designed to present a method to estimate greenhouse gases (GHG) uptake or emissions in the absence of data for peat bog areas (GEST method). The paper presents the research results produced by a project on “Limiting CO2 emissions via the renaturalisation of peat bogs on the Eastern and Central European Plain”. The study area consisted of three peat bogs: Kluki, Ciemińskie Błota, and Wielkie Bagno (Słowiński National Park). The GEST method relies on the estimation of gas emissions on the basis of vegetation and water levels and greenhouse gas coefficients for each given habitat type provided in the research literature. The greenhouse gas balance was calculated for a baseline scenario assuming the lack of human impact and for a scenario taking into account human impact in the form of peat bog preservation. Initial research results indicate that there is a total of 41 GESTs in the studied bog areas and that a reduction in CO2 emissions of approximately 12% will occur following what is known as renaturalisation by raising the groundwater level, felling of trees across the bog, and making changes in habitats.

Synergistic effect of blended amines on carbon dioxide absorption: Thermodynamic modeling and analysis of regeneration energy

Chemical absorption using amine-based aqueous solutions is a promising approach for limiting CO2 emissions. This study evaluated the performance of commercial amines, including monoethanolamine (MEA), diethanolamine (DEA), diisopropanolamine (DIPA), N-methyldiethanolamine (MDEA), triethanolamine (TEA), and 2-amino-2-methyl-1-propanol (AMP), along with their binary mixtures, with a focus on their synergistic effect in reducing the regeneration energy. The thermodynamic behavior of these aqueous amine systems for CO2 capture was analyzed using the electrolyte nonrandom two-liquid model; the shortcut method was used to estimate the regeneration energy. The CO2 loading ratio, concentrations of the molecules and ions in the liquid phase, heat of absorption, pH, and regeneration energy were included in the analysis. Amine blending was found to synergistically lower the regeneration energy in the following two cases. First, blending carbamate-forming and non-carbamate-forming amines enhanced carbamate formation, thereby increasing the CO2 cyclic capacity and reducing the regeneration energy in the DIPA-MDEA and DEA-AMP systems. Second, the MEA-MDEA system revealed an optimal blending ratio for balancing different heat components (sensible, reaction, and latent heat). These findings offer a guide for selecting and blending amines to optimize the CO2 capture performance.

Reliable Power Supply of Islanded Locations through Microgrids

Due to the increase in the price of oil and the attempt to meet the limits of established CO2 emissions, the technology of microgrids (MGs) has been growing considerably for some years. Its implementation is recommended above all in weak electrical networks, such as the networks of isolated areas and islands, with the aim of solving the typical quality problems in the supply of such networks. In this paper, the analysis to estimate the implementation of an isolated MG is carried out, located on islands in the Hordaland region of southwestern Norway. Special importance is given to the fact that the MG in question contemplates high penetration of renewable energies and storage technologies.

Optimization of the location and capacity of shared multimodal mobility hubs to maximize travel utility in urban areas

Nowadays, urban areas are exposed to various challenges such as climate change, social inequalities, and congestion. Shared mobility hubs present the opportunity to reshape our cities and mitigate the previously mentioned challenges by contributing to a more sustainable transport system. These are places where shared cars, mopeds, and e-bikes are offered to improve connectivity in urban areas. In this paper, we investigate the impact of efficiently allocating multimodal shared mobility hubs on modal split, service level, and environmental factors while assuring economic feasibility. Given a limited budget, cities would like to optimize the hubs’ locations to maximize the population’s benefits. For that purpose, we introduce a multi-stage design algorithm model that distributes the hubs and allocates fleets of shared cars, mopeds, and e-bikes to maximize travel utility for all the population traveling using traditional and/or shared modes while accounting for multimodal trips. The model is divided into several modules: computational modules that calculate the demand for the hubs; an optimization module to optimize the hubs’ capacities, availability, and relocation of shared vehicles; and finally, a genetic algorithm to find the optimal hub distribution. Our proposed model is one of the first that optimizes the location and capacity of multimodal hubs by considering multimodal trips in a large network. Additionally, it allows to assess mobility, spatial, and environmental impact of shared modes. The model is applied to the case of Amsterdam, the capital of The Netherlands, with around 800,000 inhabitants. After running several scenarios with different budgets allocated to build the hubs, results show that having more hubs with a lower number of shared vehicles is more beneficial than having fewer hubs with higher capacity. That is because the travel time savings increase considerably when investments lead to complete coverage of the area by the hubs network. A modal split of 5% for the shared modes is expected when Amsterdam is covered by 288 hubs. From an environmental point of view, only 32% of the shared trips replace trips previously made by ICE and electric cars, leading to a limited CO2 emissions reduction of 1.27%. Hence, introducing shared modes and mobility hubs without push measures for the use of private cars appears to offer limited benefits to decrease the negative impacts of private car usage.

Environmental deterioration in the age of industrialization and production: do industrial competition and renewable energy reduce the ecological burden?

The modern era of globalization, economic development, and increase in manufacturing activity pose severe risks to the natural environment. In this context, industries must prioritize sustainable economic growth and development. Thus, the purpose of this study is to provide insight into industrial competition, renewable energy, economic freedom, manufacturing value added, economic growth, and carbon dioxide emissions (CO2 emissions) in the top ten high-income countries from 1997 to 2019. The results from panel cross-sectional autoregressive distributed lag (CS-ARDL), augmented mean group (AMG), and common correlated effects mean group (CCEMG) techniques revealed that economic growth and industrial production have a harmful influence on CO2 emissions. Meanwhile, industrial competitiveness, renewable energy, and economic freedom are all negatively associated with CO2 emissions. This specifies that industrial competitiveness, renewable energy, and economic freedom are favorably related to environmental sustainability by limiting CO2 emissions in the top ten high-income countries. These findings imply that governments and responsible authorities/policymakers develop strategies to reduce the environmental impact of manufacturing value addition and economic growth in the top ten high-income countries and allocate more financial resources to renewable energy and promote industrial competition.

Design and operation of renewable energy microgrids under uncertainty towards green deal and minimum carbon emissions

The regulations regarding the Paris Agreement are inevitable to keep the global temperature rise within 2 °C. Moreover, integrating renewable energy-based equipment and adopting new ways of producing energy resources, for example Power to Gas (PtG) technology, becomes essential because of the current environmental, economic, and political concerns. It is vital to supply the growing energy demand with the increasing population. Uncertainty must be considered in the transition phase since parameters regarding the electricity demand, carbon tax policies, and intermittency of renewable energy-based equipment have intermittent nature. A multi-period two-stage stochastic MILP model is proposed in this work where the wind speed, solar irradiance, temperature, power demand, carbon emission trading (CET) price, and CO2 emission limit are considered uncertain parameters. Three stochastic case studies with scenarios including different combinations of the aforementioned uncertain parameters are investigated. Results show that more renewable energy-based equipment with higher rated power values is chosen as the sanctions get stricter. In addition, the optimality of PtG technology is also investigated for a specific location. Implementing the CO2 emission limit as an uncertain parameter instead of including CET price as uncertain results in lower annual CO2 emission rates and higher net present cost values.

Unraveling the factors influencing CO2 emissions from hydroelectric reservoirs in karst and non-karst regions: A comparative analysis

Carbon migration, transformation, and emissions as CO2 in reservoir and lake systems have been extensively studied. However, uncertainties persist regarding carbon cycling variations in both karst and non-karst regions within large thermal stratified river-reservoir systems. To address this knowledge gap, we combined measurements of water chemistry, isotopic compositions (δ13C), partial pressure of CO2 (pCO2), and CO2 fluxes (FCO2) to elucidate the differences, control mechanisms, and environmental effects of various carbon biogeochemical processes in the Hongjiadu reservoir (HJD, karst reservoir) and Shangyoujiang reservoir (SYJ, non-karst reservoir), Yangtze River basin, China. Our results demonstrate that key biogeochemical processes are associated with CO2 production and emissions. The stronger biological carbon pump (BCP) effect in the lentic area of the HJD reservoir limited CO2 emission (0.9 ± 5.0 mmol m−2 d−1) compared to the SYJ reservoir (50.9 ± 33.4 mmol m−2 d−1), leading to low dissolved inorganic carbon (DIC) and high saturation state of carbonate minerals in the lentic epilimnion. Although the released water from both reservoirs acted as hotspots for CO2 emissions, the results of higher Revelle factor (RF) in the HJD reservoir than SYJ reservoir suggest the greater buffer capacity and lower sensitivity of OC degradation changes in DIC. Despite the shorter hydraulic retention time (HRT) of SYJ reservoir (120 d) compared to HJD reservoir (368 d), FCO2 was 3.5 times higher than that of the HJD reservoir (652.9 mmol m−2 d−1). Moreover, upon analyzing selected reservoirs worldwide, it becomes apparent that karst reservoirs demonstrate a reduced potential for CO2 emissions. Our results indicate that the impact of varying geologic settings should be considered to minimize errors in regional and global CO2 emission estimates.

Climate change and collapsing thermal niches of desert reptiles and amphibians: Assisted migration and acclimation rescue from extirpation

Recent climate change should result in expansion of species to northern or high elevation range margins, and contraction at southern and low elevation margins in the northern hemisphere, because of local extirpations or range shifts or both. We combined museum occurrence records from both the continental U.S. and Mexico with a new eco-physiological model of extinction developed for lizard families of the world to predict the distributions of 30 desert-endemic reptile and amphibian species under climate change scenarios. The model predicts that 38 % of local populations will go extinct in the next 50 years, across all 30 species. However, extinctions may be attenuated in forested sites and by the presence of montane environments in contemporary ranges. Of the 30 species, three were at very high risk of extinction as a result of their thermal limits being exceeded, which illustrates the predictive value of ecophysiological modeling approaches for conservation studies. In tandem with global strategies of limiting CO2 emissions, we propose urgent regional management strategies for existing and new reserves that are targeted at three species: Barred Tiger Salamander (Ambystomatidae: Ambystoma mavortium stebbinsi), Desert Short-horned Lizard (Phrynosomatidae: Phrynosoma ornatissimum), and Morafka's Desert Tortoise (Testudinidae: Gopherus morafkai), which face a high risk of extinction by 2070. These strategies focus on assisted migration and preservation within climatic refugia, such as high-elevation and forested habitats. We forecast where new reserves should be established by merging our model of extinction risk with gap analysis. We also highlight that acclimation (i.e., phenotypic plasticity) could ameliorate risk of extinction but is rarely included in ecophysiological models. We use Ambystoma salamanders to show how acclimation can be incorporated into such models of extinction risk.

Structure and NOx Emissions of Stratified Hydrogen-Air Flames Stabilized on a Coaxial Injector

Abstract In recent years, the need for low-carbon power has seen hydrogen emerge as a potential fuel to replace conventional hydrocarbons in combustion to limit CO2 emissions in several sectors, including aeronautics. The challenges posed by hydrogen combustion are similar to the issues of kerosene flames but more challenging, like nitrogen oxide (NOx) emissions and flame flashback. One potential solution to address these problems is to burn a rich mixture of hydrogen and air in globally lean conditions on a coaxial injector to obtain a stable and staged combustion and attempt to reduce emissions. In this article, the evolution of NOx production as more air is mixed into the fuel is studied, as well as the changes in flame size and structure. In particular, the appearance of a secondary flame front is observed and increasing the proportion of air in the fuel mixture both shortens the flame and reduces the NOx emission index. Additionally, the effect of the global equivalence ratio and flame thermal power is studied. Finally, existing models for NOx emission of hydrogen flames on a coaxial injector based on average flame residence time and strain rate are tested and shown to have promising results.

Impact of the 50 biggest pharma companies: a review of Environmental report aspiring to NetZero

Abstract Background Pharmaceutical companies have a considerable environmental impact in terms of waste disposal, CO2 emissions, plastic usage, and air pollution, water and energy consumption (including those related to transportation and refrigeration of drugs). According to data from 2019, pharmacological firms’ CO2 emissions are 13% greater than those of the car industry. To follow a greener path, pharmaceutical companies should primarily invest in sustainable production and supply, standard criteria, rewards programs, and staff training. This review aims to examine how pharmaceutical businesses incorporate environmental sustainability concerns into their operations, regulations, and communications. Methods We selected the top 50 pharmaceutical companies by revenue using the drugdiscoverytrends.com database. We collected the 2021 ESG report for each company, examining the following aspects: the inclusion of a ‘sustainability’ section or a downloadable sustainability report; the disclosure of the company production and carbon footprint; the existence of concrete measures to limit CO2 emissions, save water and energy, and reduce the effect of transportation. Data were analyzed through descriptive statistics to assess the sustainability of companies. Results Preliminary results indicate that each organization has a different level of importance for the topic of sustainability. Companies focused on CO2 production, few on other areas such as water needs or impact on biodiversity. Logistics correspond to the most impactful carbon footprint. Future forecasts and the path to NetZero emissions will also be emphasized, possibly comparing them with upcoming ESG 2022 reports. Conclusions The first results of our review show that the 50 biggest pharmaceutical companies have a different kind of interest towards environmental-friendly actions. Those with the highest revenues seem to be more careful towards the green issues, but the route to NetZero is still far to be achieved. Key messages • The environmental impact of pharmaceutical companies is greater than other industries. They must balance their business goals with environmental sustainability to reach NetZero as soon as possible. • The future goal of public health will be to monitor the environmental impact of drug production.

Formulating sustainable development policy for a developed nation: exploring the role of renewable energy, natural gas efficiency and oil efficiency towards decarbonization

ABSTRACT Limiting CO2 emissions is crucial for sustainable development, environmental protection, and climate change mitigation, ensuring a more resilient and cleaner future. Prioritizing sustainable urbanization renewable energy, and energy efficiency is vital for achieving this prosperous and sustainable future. As a result, we adopt the Fourier testing approach for stationary, cointegration, estimator, and causality, to scrutinize the role of renewable energy, energy efficiency, and urbanization on CO2 emissions in Finland over the period between 1990 and 2020, controlling economic growth and trade openness. The empirical analysis of the Fourier ARDL estimator establishes that energy efficiency measures such as gas and oil efficiency exhibit an adverse effect on CO2 emissions, so energy efficiency mitigates CO2 emissions. Similarly, the study also found that urbanization and renewable energy reduce CO2 emissions. Conversely, economic growth and trade openness induce CO2 emissions. Additionally, the Fourier-Toda-Yamamoto method provides robust evidence regarding the long-term implications of the examined factors. Based on this result, the study emphasizes that implementing a regulatory framework to enhance energy efficiency, promote renewable energy adoption, and support sustainable urban development will be an essential strategy in the global effort to attain the net-zero emissions target, which offers valuable insights to other countries seeking to transition towards cleaner and more sustainable energy sources.

Vaccine supply chain network design by considering viability, robustness and risk

This study aims to develop a solution for the Viable Vaccine Supply Chain Network Design (VVSCND) problem, which concurrently addresses multiple factors such as sustainability, resiliency, agility, risk, and robustness. To achieve this, the researchers propose a Mixed-Integer Linear Programming (MILP) model based on a Robust Stochastic Programming (RSP) approach, which minimizes the weighted expected and max cost function. Furthermore, the research considers factors such as limiting CO2 emissions, introducing flexible capacity, and ensuring the reliability and redundancy of facilities to establish a more agile and environmentally sustainable supply chain. The key decisions in the proposed methodology involve determining facility location and product flow within an efficient healthcare system. According to the findings, the cost function of the VVSCND problem was only marginally higher, by 0.04%, than its counterpart in a VSCND that did not consider any risks or worst-case scenarios. However, increasing the conservatism coefficient or agility coefficient by 50% and 10%, respectively, leads to similar increases in the cost function. Similarly, the resiliency coefficient has a direct relationship with the cost function. Overall, the study demonstrates that an optimal VSCND can be achieved by considering multiple factors through RSP-based MILP modeling.

Green perspectives of finance, technology innovations, and energy consumption in restraining carbon emissions in China: Fresh insights from Wavelet approach

ABSTRACT Carbon dioxide (CO2) emission is a major contributor to global climate change and needs an instant reduction to preserve the environmental quality of the planet. To ensure this, our study examines the role of green factors in terms of finance, technology, and energy in reducing CO2 emissions in China using quarterly data spanning 2001Q1-2020Q4. A recently developed frequency- and time-varying technique named “Wavelet Local Multiple Correlation” is applied to examine the impact of considered factors on CO2 emission dynamics in short-, medium-, and long-term. Thus, our study is the first to provide detailed insights into the role of green factors in reducing CO2 emission in China in a multivariate context. The outcomes confirm the long-term positive connectedness among green finance, green technology, and green energy consumption. Secondly, all these factors are asymmetrically and negatively correlated to CO2 emissions in long-term frequencies. However, green energy and green finance are highly affecting the CO2 in long-term, while green technology in medium-term. Finally, the multivariate analysis confirms that all the explanatory variables follow a similar trend in affecting CO2 emission; though, green finance is the dominant factor in the correlation. Based on the findings, the study recommends promoting green innovations, financial measures, and renewable energy that help China to limit CO2 emissions and promote environmental quality.