skip to main content

This content will become publicly available on April 14, 2023

Title: Effect of Islamic Financial Development on Carbon Emissions: A Spatial Econometric Analysis
In this research, data from 36 countries from 2013 to 2018 were used to examine the factors influencing CO 2 emissions in Islamic countries, focusing on the impact of Islamic financial growth. The spatial econometric technique estimation findings indicate that there is no geographical association between CO 2 emissions in the analyzed countries. The test findings establish the existence of the Kuznets hypothesis for the environment. Additionally, trade openness and increased energy usage have resulted in an increase in CO 2 emissions. The impacts of traditional financial development factors, such as financial market and financial institution variables, were examined in this research. The findings indicate that the two variables have no direct and substantial influence on CO 2 emissions and that their significant effect on CO 2 emissions appears only when their nonlinear and spillover effects on energy consumption and economic growth are included. Additionally, the growth of financial institutions is inversely proportional to the intensity of carbon emissions. The results indicate that while the development of financial markets and institutions results in a significant increase in CO 2 emissions, the negative coefficient of the interaction between financial development and energy consumption indicates that financial development ensures energy efficiency, which more » reduces the intensity of carbon emissions. The findings indicate that the expansion and depth of Islamic finance, as measured by total assets, asset quality, earnings, and efficiency of Islamic banks, can result in a nonlinear increase in CO 2 emissions with a U-shaped relationship. The study of spillover effects demonstrates that in addition to their direct and positive effects on CO 2 emissions, the increase in Islamic social responsibility and consumer education, and awareness about Islamic banking reduce the enhancing effects of energy consumption on greenhouse gas emissions. « less
Authors:
; ; ; ;
Award ID(s):
1757207
Publication Date:
NSF-PAR ID:
10322679
Journal Name:
Frontiers in Environmental Science
Volume:
10
ISSN:
2296-665X
Sponsoring Org:
National Science Foundation
More Like this
  1. Abstract Background

    Woody biomass has been considered as a promising feedstock for biofuel production via thermochemical conversion technologies such as fast pyrolysis. Extensive Life Cycle Assessment studies have been completed to evaluate the carbon intensity of woody biomass-derived biofuels via fast pyrolysis. However, most studies assumed that woody biomass such as forest residues is a carbon–neutral feedstock like annual crops, despite a distinctive timeframe it takes to grow woody biomass. Besides, few studies have investigated the impacts of forest dynamics and the temporal effects of carbon on the overall carbon intensity of woody-derived biofuels. This study addressed such gaps by developingmore »a life-cycle carbon analysis framework integrating dynamic modeling for forest and biorefinery systems with a time-based discounted Global Warming Potential (GWP) method developed in this work. The framework analyzed dynamic carbon and energy flows of a supply chain for biofuel production from pine residues via fast pyrolysis.

    Results

    The mean carbon intensity of biofuel given by Monte Carlo simulation across three pine growth cases ranges from 40.8–41.2 g CO2e MJ−1(static method) to 51.0–65.2 g CO2e MJ−1(using the time-based discounted GWP method) when combusting biochar for energy recovery. If biochar is utilized as soil amendment, the carbon intensity reduces to 19.0–19.7 g CO2e MJ−1(static method) and 29.6–43.4 g CO2e MJ−1in the time-based method. Forest growth and yields (controlled by forest management strategies) show more significant impacts on biofuel carbon intensity when the temporal effect of carbon is taken into consideration. Variation in forest operations and management (e.g., energy consumption of thinning and harvesting), on the other hand, has little impact on the biofuel carbon intensity.

    Conclusions

    The carbon temporal effect, particularly the time lag of carbon sequestration during pine growth, has direct impacts on the carbon intensity of biofuels produced from pine residues from a stand-level pine growth and management point of view. The carbon implications are also significantly impacted by the assumptions of biochar end-of-life cases and forest management strategies.

    « less
  2. Anthropogenic activities are responsible for greenhouse gas emissions, causing extreme events like soil erosion, droughts, floods, forest fires and tornadoes. Fossil fuel consumption produces CO2, and trapping heat is the major reason for a rapid increase in global temperature, and electricity generation is responsible for 25% of greenhouse gas emissions. Fossil fuel consumption, CO2 emissions and their adverse impact have become the focus of efforts to mitigate climate change vulnerability. This study explores empirical determinants of vulnerability to climate change such as ecosystem, food, health and infrastructure. The sustainable use of energy is necessary for development, and a source ofmore »response to climate change. The present study focuses on renewable energy consumption to determine climate vulnerability in G7 countries between 1995 and 2019. The panel ARDL approach showed that the renewable to non-renewable energy mix showed a quadratic effect on vulnerability, whereby a minimum threshold of renewable energy is required to witness a reduction in food, health and infrastructure vulnerability. Other results indicate that trade openness and development expenditures reduce health vulnerability. Development expenditures also decrease ecosystem vulnerability, while trade openness increases it. However, both of these variables increase infrastructure vulnerability. Avoiding severe food and water crises requires investment to tackle climate change, conserve energy and water resources, reform global trade and food markets, and adapting and adopting climate-resilient responses to change.« less
  3. Abstract Wildfires in humid tropical forests have become more common in recent years, increasing the rates of tree mortality in forests that have not co-evolved with fire. Estimating carbon emissions from these wildfires is complex. Current approaches rely on estimates of committed emissions based on static emission factors through time and space, yet these emissions cannot be assigned to specific years, and thus are not comparable with other temporally-explicit emission sources. Moreover, committed emissions are gross estimates, whereas the long-term consequences of wildfires require an understanding of net emissions that accounts for post-fire uptake of CO 2 . Here, usingmore »a 30 year wildfire chronosequence from across the Brazilian Amazon, we calculate net CO 2 emissions from Amazon wildfires by developing statistical models comparing post-fire changes in stem mortality, necromass decomposition and vegetation growth with unburned forest plots sampled at the same time. Over the 30 yr time period, gross emissions from combustion during the fire and subsequent tree mortality and decomposition were equivalent to 126.1 Mg CO 2 ha −1 of which 73% (92.4 Mg CO 2 ha −1 ) resulted from mortality and decomposition. These emissions were only partially offset by forest growth, with an estimated CO 2 uptake of 45.0 Mg ha −1 over the same time period. Our analysis allowed us to assign emissions and growth across years, revealing that net annual emissions peak 4 yr after forest fires. At present, Brazil’s National Determined Contribution (NDC) for emissions fails to consider forest fires as a significant source, even though these are likely to make a substantial and long-term impact on the net carbon balance of Amazonia. Considering long-term post-fire necromass decomposition and vegetation regrowth is crucial for improving global carbon budget estimates and national greenhouse gases (GHG) inventories for tropical forest countries.« less
  4. Abstract

    Recent advances in energy technologies, policies, and practices have accelerated the global rate of improvements in energy efficiency, bringing the energy targets identified in the 2030 United Nations (UN) Sustainable Development Agenda within reach. However, Target 7.3 requires this rate to double by 2030, demanding a more substantial response to energy interventions. At present, energy interventions are failing to reach optimal levels of adoption in buildings, which are the largest urban energy consumers. This is due to a combination of direct and indirect effects generally referred to as the energy efficiency gap. Here, we compare over 18.8 million positionalmore »records of individuals against Greater London’s buildings energy consumption records over the course of one year. We demonstrate that indirect (i.e., spillover) effects, arising fromrecurrent mobility, govern the diffusion of urban buildings’ energy efficiency, far outpacing direct effects. This has been understood as a consequence of underlying spatiotemporal dependencies at the intersection of energy use and social interactions. We add to this the critical role of recurrent mobility (i.e., the mobility of those urban populations who repeatedly visit certain locations, such as home and work) as a diffusion conduit. These findings suggest that in order to improve the current levels of adoption, interventions must target times and locations that function as dense hubs of energy consumption and social interactions. Recurrent mobility thus provides a viable complement to existing targeted intervention approaches aimed at improving energy efficiency, supporting efforts to meet the UN’s 2030 energy targets.

    « less
  5. Anil, Arga Chandrashekar (Ed.)
    There is little information on the impacts of climate change on resource partitioning for mixotrophic phytoplankton. Here, we investigated the hypothesis that light interacts with temperature and CO 2 to affect changes in growth and cellular carbon and nitrogen content of the mixotrophic dinoflagellate, Karlodinium veneficum , with increasing cellular carbon and nitrogen content under low light conditions and increased growth under high light conditions. Using a multifactorial design, the interactive effects of light, temperature and CO 2 were investigated on K . veneficum at ambient temperature and CO 2 levels (25°C, 375 ppm), high temperature (30°C, 375 ppm COmore »2 ), high CO 2 (30°C, 750 ppm CO 2 ), or a combination of both high temperature and CO 2 (30°C, 750 ppm CO 2 ) at low light intensities (LL: 70 μmol photons m -2 s -2 ) and light-saturated conditions (HL: 140 μmol photons m -2 s -2 ). Results revealed significant interactions between light and temperature for all parameters. Growth rates were not significantly different among LL treatments, but increased significantly with temperature or a combination of elevated temperature and CO 2 under HL compared to ambient conditions. Particulate carbon and nitrogen content increased in response to temperature or a combination of elevated temperature and CO 2 under LL conditions, but significantly decreased in HL cultures exposed to elevated temperature and/or CO 2 compared to ambient conditions at HL. Significant increases in C:N ratios were observed only in the combined treatment under LL, suggesting a synergistic effect of temperature and CO 2 on carbon assimilation, while increases in C:N under HL were driven only by an increase in CO 2 . Results indicate light-driven variations in growth and nutrient acquisition strategies for K . veneficum that may benefit this species under anticipated climate change conditions (elevated light, temperature and p CO 2 ) while also affecting trophic transfer efficiency during blooms of this species.« less