Dear Colleagues,

The UN sustainable development goal (Goals 7 and 13) calls on nations to take action to fight climate change and its effects by boosting investment in renewable energy and green energy technology. It also urges developed economies to assist the least developed economies in energy transition and accessing clean energy. The Paris Agreement on climate change which has global support aims at reducing CO2 consumption and achieving net zero emissions by 2050 while keeping temperature below 2ºC. A growing number of countries are working on energy transition from fossil fuel to renewable energy and accelerating their investment in renewable energy. Total investment in renewable energy reached $1.3 trillion in the year 2022 however, the required is three times the current level to mitigate the climate risk and achieve the desired green developments, see the report by Global Landscape Renewable Energy Finance 2023. The measure challenge with renewable energy is the high setting up cost and the need for skilled workers The Economist (2023). High cost of renewable energy is affecting developing economies to invest in renewable energy, especially Africa which is behind when it comes to investment in renewable energy.

There have been efforts from policymakers to reduce emissions and turn their economy into green energy.  For example, in Europe, governments are using carbon tax and carbon credits on industries for more Känzig & Konradt (2023). Thanks to technology innovation some countries are already employing carbon capture and storage (CCS) which are an effective tool in the decarbonization process, and they can be turning steps in sustainability and green developments. According to Global Status of CCS (2022), worldwide more than 190 CCS projects are coming up and witnessed 41% growth in one year. The same report also found great interest in Direct Air Carbon (DAC) which is another green energy technology and has the potential to capture when CO2 is in the atmosphere directly. If we are to live in a green world, all leaders and international organizations must work together to increase investments in renewable energy and provide financial and technical support to developing countries which is in line with the UN goals 7 and 13. We welcome submissions on the topics listed but not limited to.

 

1. The effectiveness of carbon tax and carbon credit in reducing emissions.

2. Monetary policy changes on renewable energy stock and non-renewable energy

3. The impact of green development on output, employment, and other macroeconomic indicators.

4. Renewable energy stock and green bond financing and firm market value.

5. Renewable energy and the economic cost associated with it and the effect of renewable energy on emissions.

6. Technology innovation and ecological footprint

7. Carbon capture and green energy technology on emission.

8. Cost and benefit analysis of green developments

9. The economic cost of shifting from non-renewable electricity consumption to renewable

 

Section Editor

Dr. Murad Bein

 

5. Green development； Sustainable Finance； Decarbonization； Renewable energy； Climate change； Carbon capture and storage； Technology innovations and net zero emission.