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- How economic growth in Australia reacts to CO2 emissions, fossil fuels and renewable energy consumptionPublication . Leal, Patrícia Alexandra Hipólito; Marques, António Manuel CardosoAustralia is one of the ten largest emitters of greenhouse gases but stands out from the others due to its economic growth without recession for twenty-six consecutive years. This paper focuses on the energy-growth nexus and the effects of energy consumption on the environment, in Australia. This analysis is performed using annual data from 1965 to 2015, and the Autoregressive Distributed Lag model. The paper finds empirical evidence of a trade-off between economic growth and Carbon Dioxide (CO2) intensity. The results show that increased Gross Domestic Product (GDP) in Australia, increased investment in Renewable Energy Sources (RES), although the renewable technology is limited and has no impact on reducing CO2 intensity in the long-run. In contrast to investment in RES, fossil fuels, coal and oil, are both decreased by GDP. However, oil consumption increased renewable energy consumption, and this reflects the pervading effect of the growing economy. To achieve environmental targets and continue to grow, Australia should change its energy mix, apply restrictive policies to fossil fuels consumption, and implement energy efficiency measures.
- Essays on the effect of globalisation on environmental performance and sustainable developmentPublication . Leal, Patrícia Alexandra Hipólito; Marques, António Manuel CardosoMore than a threat to the future, climate change is a reality that needs to be dealt with today. The main focus of this thesis is the analysis of the influence of globalisation 0n the achievement of sustainable development goals. Countries around the world have become more connected than ever due to advancing technology and economic integration. However, globalisation gives rise to diverse ecological and economic challenges, leading to environmental damage and inducing substandard working conditions in emergent nations that produce goods for more developed ones. To address some of these challenges, in this thesis, six analyses organised into three main parts were performed. The first aims to empirically analyse the effect of each dimension and measure of globalisation on environmental performance, considering economies’ distinct contexts, such as level of income, degree of development, level of globalisation, regulatory structure, and economic, political, and social frameworks. Three essays were included in the first part of the thesis to address the objective stated above. Panel data estimators for an annual frequency were used, and the main findings suggest that each dimension and measure of globalisation behaves differently under distinct economies’ features. In light of this, environmental strategies should be delineated according to the specific features of the economies instead of implementing transversal directives for both a group of economies and globalisation as a whole. A debate is needed on strategies that discourage developed and high-income economies from economically benefiting from increasing environmental degradation in developing and low-income countries. An all-embracing environmental performance assessment is crucial for policymakers to design and implement the most efficient policies and directives to achieve sustainable development and the net-zero carbon goal. Understanding the gaps that might need to be overcome, and the improvements that might need to be made in environmental performance assessment, motivated the second part of this thesis. Thus, the second part of this thesis aims to provide a survey of the literature and a critical analysis of one of the most popular methods used to assess environmental performance, the Environmental Kuznets Curve (EKC). This essay goes further by first presenting a detailed review of the literature that describes the time period and countries under analysis, the variables of the EKC relationship analysed, additional variables included, approaches performed, the relationship obtained, and if the turning point is calculated. Secondly, it identifies gaps and proposes improvements to the EKC hypothesis assessment. This essay highlights that policymakers should be concerned about the volatility of the EKC outcomes. The use of the EKC outcomes as guidance on policy design and implementation, but not as a decisive indicator, is recommended. Energy efficiency and climate finance are crucial tools to achieve sustainable development and the net-zero carbon goal. This evidence motivated the third part of this thesis. The main objective of this third part is to analyse globalisation as a driver of energy efficiency, climate finance, and sustainable development. Two essays were written to achieve this objective. Diverse empirical methods were applied, such as the Autoregressive Distributed lag model, both Panel-Corrected Standard Errors and Feasible Generalized Least Squares, and the Driscoll-Kraay estimator. The robustness of the results has been confirmed by using different models’ specifications and by employing a Seemingly Unrelated Regression method. The main findings of the third part of this thesis highlight that economic benefit might have been prioritized over environmental quality in the higher energy consumers per capita countries. At the same time, climate finance is an environmental preservation mechanism for developing countries, but further than that, it induces improvements in the standard of living. In concordance with that, human development is suggested as a substantial determinant of climate finance flow. Strengthening regulation and implementing environmental protection directives are indispensable to accomplishing the established environmental goals, as well as founding specific goals and mainly accomplishing them. International agreements allow transparency and the commitment to a shared interest. Implementing penalties for the economies that do not comply with the agreed treaty might discourage these economies from making decisions that maximize their profit over environmental quality.