Balancing economic growth and environmental management: the role of CO2 efficiency and renewable energy in the EU

• Autorzy: Dilanchiev Azer , Urbański Mariusz , Ahmed Dara , Valiyev Orkhan

Identyfikatory

DOI

10.17512/pjms.2024.30.1.04

Warianty tytułu

PL

Równoważenie wzrostu gospodarczego i zarządzania środowiskiem: rola efektywności CO2 i energii odnawialnej w UE

• Języki publikacji: EN

Abstrakty

EN

This study addresses the critical challenge of balancing economic growth with environmental management by examining the role of CO2 efficiency and renewable energy consumption in sustainable economic development across European Union (EU) countries. The aim is to assess how these factors contribute to achieving sustainable economic growth while providing practical policy recommendations for managing the transition towards carbon neutrality by 2050. Employing panel data from 2002 to 2023, the study utilizes a Random Effects (RE) model and ARDL (Auto-Regressive Distributed Lag) analysis, integrating Mean Group (MG) and Dynamic Fixed Effects (DFE) estimators to evaluate short-run and long-run dynamics. The results show that CO2 efficiency significantly enhances economic growth, highlighting the crucial importance of managing carbon efficiency for sustainable development. However, the impact of renewable energy on economic growth is deemed statistically insignificant in the DFE estimations, suggesting potential obstacles to effective deployment. The novelty of this study lies in its incorporation of CO2 efficiency into the economic growth model as a key management factor, offering fresh insights into the interaction between economic and environmental variables within the EU context. The findings establish a basis for policymakers to prioritize enhancements in CO2 efficiency while also optimizing investments in renewable energy to effectively harmonize economic and environmental goals.

PL

Niniejsze badanie dotyczy kluczowego wyzwania, jakim jest równoważenie wzrostu gospodarczego z zarządzaniem środowiskiem, poprzez analizę roli efektywności CO2 i konsumpcji energii odnawialnej w zrównoważonym rozwoju gospodarczym krajów Unii Europejskiej (UE). Celem badania jest ocena, w jaki sposób te czynniki przyczyniają się do osiągnięcia zrównoważonego wzrostu gospodarczego oraz przedstawienie praktycznych rekomendacji politycznych dotyczących zarządzania przejściem w kierunku neutralności węglowej do roku 2050. Korzystając z danych panelowych z lat 2002-2023, zastosowano model efektów losowych (RE) oraz analizę ARDL (Auto-Regressive Distributed Lag), integrując estymatory Mean Group (MG) i Dynamic Fixed Effects (DFE) do oceny dynamiki krótkoterminowej i długoterminowej. Wyniki pokazują, że efektywność CO2 znacząco wspiera wzrost gospodarczy, podkreślając kluczowe znaczenie zarządzania efektywnością węglową dla zrównoważonego rozwoju. Jednak wpływ energii odnawialnej na wzrost gospodarczy okazał się statystycznie nieistotny w estymacjach DFE, co sugeruje potencjalne przeszkody w jej efektywnym wdrażaniu. Nowość badania polega na włączeniu efektywności CO2 do modelu wzrostu gospodarczego jako kluczowego czynnika zarządzania, co dostarcza nowych spostrzeżeń na temat interakcji między zmiennymi gospodarczymi i środowiskowymi w kontekście UE. Wyniki stanowią podstawę dla decydentów politycznych do priorytetowego traktowania działań na rzecz poprawy efektywności CO2, przy jednoczesnej optymalizacji inwestycji w energię odnawialną, aby skutecznie zharmonizować cele gospodarcze i środowiskowe.

Słowa kluczowe

EN

environmental management; green growth; CO2 efficiency; renewable energy; sustainable growth

PL

zarządzanie środowiskowe; zielony wzrost; efektywność CO2; energia odnawialna; rozwój zrównoważony

• Wydawca: Czestochowa University of Technology
• Czasopismo: Polish Journal of Management Studies
• Rocznik: 2024
• Tom: Vol. 30, No. 1
• Strony: 66--81
• Opis fizyczny: Bibliogr. 51 poz., tab.

Twórcy

autor

Dilanchiev Azer

• School of Business, International Black Sea University, Georgia

• https://orcid.org/0000-0002-9899-6621

autor

Urbański Mariusz

• Czestochowa University of Technology, Poland

• https://orcid.org/0000-0002-5808-5209

autor

Ahmed Dara

• School of Business, International Black Sea University, Georgia

• https://orcid.org/0009-0003-1398-2349

autor

Valiyev Orkhan

• Azerbaijan State University of Economics (UNEC), Azerbaijan

• https://orcid.org/0009-0004-9323-0143

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Uwagi

Opracowanie rekordu ze środków MNiSW, umowa nr POPUL/SP/0154/2024/02 w ramach programu "Społeczna odpowiedzialność nauki II" - moduł: Popularyzacja nauki (2025).