Browsing by Author "Mahmood, Haider"

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A Review of the Global Climate Change Impacts, Adaptation, and Sustainable Mitigation Measures
(Daffodil International University, 2022-04-04) Abbass, Kashif; Qasim, Muhammad Zeeshan; Song, Huaming; Murshed, Muntasir; Mahmood, Haider; Younis, Ijaz
Climate change is a long-lasting change in the weather arrays across tropics to polls. It is a global threat that has embarked on to put stress on various sectors. This study is aimed to conceptually engineer how climate variability is deteriorating the sustainability of diverse sectors worldwide. Specifically, the agricultural sector’s vulnerability is a globally concerning scenario, as sufficient production and food supplies are threatened due to irreversible weather fluctuations. In turn, it is challenging the global feeding patterns, particularly in countries with agriculture as an integral part of their economy and total productivity. Climate change has also put the integrity and survival of many species at stake due to shifts in optimum temperature ranges, thereby accelerating biodiversity loss by progressively changing the ecosystem structures. Climate variations increase the likelihood of particular food and waterborne and vector-borne diseases, and a recent example is a coronavirus pandemic. Climate change also accelerates the enigma of antimicrobial resistance, another threat to human health due to the increasing incidence of resistant pathogenic infections. Besides, the global tourism industry is devastated as climate change impacts unfavorable tourism spots. The methodology investigates hypothetical scenarios of climate variability and attempts to describe the quality of evidence to facilitate readers’ careful, critical engagement. Secondary data is used to identify sustainability issues such as environmental, social, and economic viability. To better understand the problem, gathered the information in this report from various media outlets, research agencies, policy papers, newspapers, and other sources. This review is a sectorial assessment of climate change mitigation and adaptation approaches worldwide in the aforementioned sectors and the associated economic costs. According to the findings, government involvement is necessary for the country’s long-term development through strict accountability of resources and regulations implemented in the past to generate cutting-edge climate policy. Therefore, mitigating the impacts of climate change must be of the utmost importance, and hence, this global threat requires global commitment to address its dreadful implications to ensure global sustenance.
Achieving the Objectives of the 2030 Sustainable Development Goals Agenda
(John Wiley & Sons, 2023-09-21) Wen, Zheng Guang; Murshed, Muntasir; Siddik, Abu Bakkar; Alam, Md Shabbir; Lorente, Daniel Balsalobre; Mahmood, Haider
As the global concerns regarding climate change and the related environmental adversities continue to persist alongside rapid development of the world economies, the United Nations declared a set of compressive sustainable development goals (SDG) that are to be realized by the end of 2030. These goals are specifically conceptualized to collectively facilitate the attainment of sustainable socioeconomic development while concurrently improving the quality of the global environment. Hence, this study assesses the interlinkages between economic growth, environmental pollution, financial development, and renewable energy use in light of the objectives of SDG8, SDG13, SDG10, and SDG7 by considering the BRICS nations as a case study. Although the previous studies, in this regard, have predominantly focused on specifically scrutinizing the determinants of these four macroeconomic variables of concern, not much importance was shown to map the interrelationships among these variables. The econometric analysis conducted in this study utilizes quarterly frequency data covering the period from 1990-Q1 to 2020-Q4. Overall, the findings from causality and variance decomposition analyses reveal that in the long run these variables are influenced by each other which, in turn, also verifies the cross-linkages between the four SDG of concern. Besides, the causality-related findings appear to be robust when alternate causality estimators are employed. Therefore, based on these critically important causal relationships, a set of interactive SDG-related policies is recommended.
An Analysis of the Environmental Impacts of Ethnic Diversity, Financial Development, Economic Growth, Urbanization, and Energy Consumption
(Scopus, 22-06-16) Yasin, Iftikhar; Naseem, Sana; Anwar, Muhammad Awais; Madni, Ghulam Rasool; Mahmood, Haider; Murshed, Muntasir
Improving the quality of environmental indicators has become a global concern that necessitates the identification of possible channels through which environmental welfare can be enhanced worldwide. Against this backdrop, this current study aims to elucidate the environmental effects of ethnic diversity, controlling for financial development, urbanization, economic growth, and energy consumption in the context of 51 less-developed countries during the period from 1996 to 2016. For measuring the environmental impacts, we use both the ecological footprint and carbon dioxide emission figures of these countries. Overall, the cointegration analysis confirms the existence of long-run relationships among the study variables. Besides, the regression analysis reveals that ethnic diversity deteriorates environmental quality by surging the ecological footprint and carbon dioxide emission levels of the selected nations. Similarly, financial development and energy consumption are found to impose identical adversities on the environment while urbanization is evidenced to ensure environmental welfare. Lastly, for both the environmental indicators considered in this study, the environmental Kuznets curve hypothesis is verified from the findings. Hence, considering these key outcomes, a set of relevant environmental welfare-related policy interventions are recommended in the context of less-developed countries.
An Analysis of the Environmental Impacts of Ethnic Diversity, Financial Development, Economic Growth, Urbanization, and Energy Consumption
(Scopus, 22-06-15) Yasin, Iftikhar; Naseem, Sana; Anwar, Muhammad Awais; Madni, Ghulam Rasool; Mahmood, Haider; Murshed, Muntasir
Improving the quality of environmental indicators has become a global concern that necessitates the identification of possible channels through which environmental welfare can be enhanced worldwide. Against this backdrop, this current study aims to elucidate the environmental effects of ethnic diversity, controlling for financial development, urbanization, economic growth, and energy consumption in the context of 51 less-developed countries during the period from 1996 to 2016. For measuring the environmental impacts, we use both the ecological footprint and carbon dioxide emission figures of these countries. Overall, the cointegration analysis confirms the existence of long-run relationships among the study variables. Besides, the regression analysis reveals that ethnic diversity deteriorates environmental quality by surging the ecological footprint and carbon dioxide emission levels of the selected nations. Similarly, financial development and energy consumption are found to impose identical adversities on the environment while urbanization is evidenced to ensure environmental welfare. Lastly, for both the environmental indicators considered in this study, the environmental Kuznets curve hypothesis is verified from the findings. Hence, considering these key outcomes, a set of relevant environmental welfare-related policy interventions are recommended in the context of less-developed countries.
Can Enhancing Financial Inclusivity Lower Climate Risks by Inhibiting Carbon Emissions? Contextual Evidence From Emerging Economies
(Elsevier, 2023-02-10) Murshed, Muntasir; Ahmed, Rizwan; Khudoykulov, Khurshid; Kumpamool, Chamaiporn; Alrwashdeh, Nusiebeh Nahar Falah; Mahmood, Haider
Climate change is regarded as a global concern whereby lowering climate risks, especially by curbing greenhouse gas emissions, has become a critically important policy agenda worldwide. Hence, this study assesses whether financial inclusion, alongside energy efficiency improvement, renewable energy use, economic growth, international trade, and urbanization, can mitigate carbon dioxide emissions in 22 emerging economies. Considering the period of analysis from 2008 to 2018 and utilizing econometric methods robust to handling cross-sectionally-dependent, heterogeneous, and endogenous panel data, the findings reveal that financial inclusion is directly associated with higher discharges of carbon dioxide. Contrarily, energy efficiency improvement and higher share of renewable energy in the aggregate energy consumption level inhibit carbon dioxide emissions. Moreover, energy efficiency gains moderate the financial inclusion-emissions nexus by jointly reducing carbon emissions with greater financial inclusivity. Finally, the results indicate that economic growth, international trade, and urbanization trigger climate risks by boosting the emission figures. In light of these findings, several carbon dioxide-mitigating policies are recommended for neutralizing climate risks in emerging countries of concern.
Causality Analysis of the Impacts of Petroleum Use, Economic Growth, and Technological Innovation on Carbon Emissions in Bangladesh
(Elsevier, 2023-12-27) Chen, Xia; Rahaman, Md Atikur; Murshed, Muntasir; Mahmood, Haider; Hossain, Md Afzal
Bangladesh has traditionally relied on fossil fuels for meeting its energy demand whereby this major South Asian economy has not been able to safeguard its environment from greenhouse gas emission-related adversities. Moreover, by ratifying several international environmental agreements, especially the Paris Accord and the Sustainable Development Goals, the government of Bangladesh has expressed its solidarity in abating greenhouse gas emissions through the deployment of relevant environmental policies. Hence, this study assesses the impacts of petroleum consumption, economic growth, and technological innovation on carbon emissions in Bangladesh using quarterly frequency data from 1972Q1 to 2020Q4. Overall, apart from confirming the cointegrating relationships among the variables, the regression findings reveal that higher petroleum consumption and economic growth stimulate environmental degradation by boosting carbon dioxide emissions while technological innovation reinstates environmental well-being by curbing the Bangladesh's emission figures. Additionally, technological innovation is seen to moderate the relationship between petroleum consumption and carbon emissions by jointly reducing the emissions with petroleum consumption. Lastly, the causality analysis shows that petroleum consumption, economic growth, and technological innovation causally influence carbon emissions. Based on these key findings, it is recommended that Bangladesh mitigates its petroleum dependency, blends environmental objectives into its economic growth policies, and develops its technological stock.
Drivers of Green Growth in the Kingdom of Saudi Arabia
(Springer, 2022-11-03) Abro, Asif Ali; Alam, Naushad; Murshed, Muntasir; Mahmood, Haider; Musah, Mohammed; Rahman, A K M Atiqur
The Kingdom of Saudi Arabia has recently declared its vision of turning carbon neutral by 2060. This declaration has motivated policymakers in this Arab nation to design policies that can green economic activities in Saudi Arabia so that environmentally sustainable growth can be ensured. Against this backdrop, this study models the independent and joint effects of financial development, globalization, and energy efficiency rates on green growth of the Saudi Arabian economy. In this regard, green growth in the Kingdom of Saudi Arabia is proxied by the difference between the nation’s annual per capita growth rates of gross domestic product and carbon dioxide emission. Utilizing data from 1972 to 2018 and controlling for structural break-induced problems found in the data, the findings from the regression and causality analyses confirm the green growth–inhibiting impacts of financial development and trade globalization. In contrast, greater financial globalization is evidenced to drive green growth in the Kingdom of Saudi Arabia. Furthermore, more efficient uses of energy resources are found to not only directly boost green growth but also partially neutralize the long-run green growth–dampening impacts associated with the development of the financial sector. In addition, financial development and trade globalization are observed to jointly inhibit green growth attainment both in the short and long run. In line with these important findings, it is recommended that the government of Saudi Arabia conceptualizes new green growth policies so that the nation’s annual per capita economic growth rate outpaces its annual per capita growth rate of carbon dioxide emissions.
Environmental Innovations, Energy Innovations, Governance, and Environmental Sustainability
(Elsevier, 2023-05) Lei, Lei; Ozturk, Ilhan; Murshed, Muntasir; Abrorov, Sirojiddin; Alvarado, Rafael; Mahmood, Haider
At the 26th Conference of Parties (COP26), the world economies have re-pledged to collectively attain the global objective of ensuring environmental sustainability, especially by adopting credible initiatives that can address the environmental problems experienced worldwide. Accordingly, this study aims to assess how environment- and energy-related technological innovations contribute to the establishment of this objective across South and Southeast Asia, Notably, this study proposes a new composite environmental sustainability index using environmental data from different dimensions. Further, considering data from 1996 to 2019, the results derived from the econometric analyses confirm that environmental innovation is effective in facilitating environmental sustainability only in the context of Southeast Asian countries while energy innovation is effective in doing the same for both South and Southeast Asian countries. Besides, for both cases, good governance is evidenced to directly promote environmental sustainability and also indirectly facilitate it by jointly reducing the environmental problems along with environmental and energy-related technological innovations. Moreover, greater urbanization and more involvement in economic globalization-related activities are observed to inhibit the prospects of establishing environmental sustainability in the concerned South and Southeast Asian nations. Furthermore, the results certify that compared with the South Asia the prospects of achieving environmental sustainability are relatively higher across Southeast Asia. Based on these critically important findings, a couple of policy-level suggestions are provided.
Harnessing Digital Solutions for Sustainable Development: A Quantile-Based Framework for Designing an SDG Framework for Green Transition
(Springer Nature, 2023-10-05) Saqib, Najia; Mahmood, Haider; Murshed, Muntasir; Duran, Ivan A.; Douissa, Ismail Ben
The paper investigates how financial technology might help countries promote renewable energy and reach the Sustainable Development Goals (SDGs). It is generally agreed that FinTech (financial technology) has the ability to help achieve the SDGs by 2030 and promote a sustainable society through technology-driven solutions. The financial sector has launched greener investment options in order to mobilize substantial financial resources towards climate neutrality in the coming decade. To achieve the Sustainable Development Goals and the goals set forth in the Paris Climate Agreement, however, this procedure must be accelerated. With the use of the innovative “quantile-on-quantile (QQ)” technique, this study uses the data of top FinTech economies for the period 1990–2020 and provides country-specific insights into the relationship between FinTech and renewable energy. Using quantile causality analysis, we may identify the direction of causality between these variables at the observed extremes. An extensive long-term relationship between FinTech and renewable energy was found in all countries. The leading FinTech economies show a positive association between the two at most quantiles, and a bidirectional causality relationship is seen across significant quantiles. This highlights the considerable yet variable impact FinTech policies have on renewable energy and vice versa in these innovative economies. These results highlight the connection between growing FinTech and promoting a green transition to further Sustainable Development Goals and provide useful insight for policy formulation.
How Do Green Energy Technology Investments, Technological Innovation, and Trade Globalization Enhance Green Energy Supply and Stimulate Environmental Sustainability in the G7 Countries
(Scopus, 22-12-12) Ahmed, Zahoor; Ahmad, Mahmood; Murshed, Muntasir; Shah, Muhammad Ibrahim; Mahmood, Haider; Abbas, Shujaat
Both developed and developing countries across the world are experiencing climate change-related adversities mainly due to failing to limit the emissions of greenhouse gases into the atmosphere. More often than not, the surge in greenhouse gas emissions is instigated through a rise in fossil fuel consumption levels. Hence, in respect of mitigating these emissions, especially carbon dioxide, it is pivotal to raise the share of green energy in the total energy supply. Accordingly, public sector investment in the renewable energy sector is hypothesized to play a vital role in specifically enhancing the technological level required for substantially increasing green energy production and supply. Moreover, the concurrent role of technological innovation, as a whole, in boosting green energy supply and ensuring environmental sustainability cannot be overlooked. Against this backdrop, this study investigates the effect of public investments in research and development related to renewable energy and technological innovation on renewable energy supply shares and carbon dioxide emissions in the G7 countries, controlling for the level of trade globalization in these countries. The results unfolded higher public investments in renewable energy development-related projects, technological innovation, and trade globalization are critical for enhancing renewable energy supply shares and curbing carbon dioxide emissions in the long run. Therefore, considering these major analytical outcomes, some relevant policies are suggested for enabling the G7 countries to achieve some of the Sustainable Development Goals set by the United Nations that are closely related to undergoing green energy transition (SDG-7) and achieving environmental sustainability (SDG-13) through the channel of innovation (SDG-9).
Pathways to Decarbonization in India
(Daffodil International University, 2022-02-28) Rej, Soumen; Bandyopadhyay, Arunava; Murshed, Muntasir; Mahmood, Haider; Razzaq, Asif
The paradigm of sustainable tourism policy implications aims to prioritize the decoupling association between tourism development and environmental deterioration. The study revisits the dynamic associations among carbon dioxide emissions, economic growth, international tourism, education, renewable energy consumption, and gross capital formation for the case of India through the lens of the environmental Kuznets curve hypothesis framework. The long-run dynamics among the variables confirm the inverted U-shaped environmental Kuznets curve hypothesis for India. The regression findings affirm that higher international tourist arrivals, renewable energy use, and gross capital formation curb emissions in the long run. Besides, the coefficient of the interaction term between tourist arrivals and capital formation is evidenced to be positive implying capital formation has not been conducive in the pathway of sustainable tourism practices. On the other hand, the negative coefficient of the interaction term between education index and renewable energy consumption unveils the importance of educational advancement in the pathway of renewable energy penetration to thrive environmental sustainability. This study concludes with some policy suggestions to be incorporated within the existing ecological and energy approaches that may aid India in practicing the smooth functioning of low-carbon tourism models.
Pathways to Securing Environmentally Sustainable Economic Growth Through Efficient Use of Energy
(Daffodil International University, 2022-02-22) Alam, Md Shabbir; Alam, Mohammad Noor; Murshed, Muntasir; Mahmood, Haider; Alam, Risana
Oman has traditionally relied upon natural gas and oil for meeting its domestic energy demand. As a result, despite growing economically, the level of carbon dioxide emissions in Oman has persistently surged; consequently, the nation has failed to ensure environmentally sustainable economic growth. Against this background, this current study aims to explore the impacts of energy consumption, energy efficiency, and financial development on Oman's prospects of attaining environmentally sustainable growth over the 1972-2019 period. The estimation strategy is designed to take into account the structural break issues in the data. Using the carbon productivity level as an indicator of environmentally sustainable economic growth, we find long-run associations amid the study variables. Besides, higher energy consumption and greater financial development are found to impede carbon productivity while improving energy efficiency is observed to boost carbon productivity in Oman. Therefore, it is pertinent for Oman to consume low-carbon and energy-efficient fossil fuels, improve energy efficiency levels, and green its financial sector to achieve environmentally sustainable growth.
Realizing the Sustainable Development Goals Through Technological Innovation: Juxtaposing the Economic and Environmental Effects of Financial Development and Energy Use
(Springer Nature, 2022-09-02) Manigandan, Palanisamy; Alam, Md Shabbir; Alagirisamy, Kuppusamy; Pachiyappan, Duraisamy; Murshed, Muntasir; Mahmood, Haider
The BRICS comprise of group of emerging market economies which are committed to achieving the Sustainable Development Goals agenda of the United Nations by the end of the year 2030. In this regard, it is critically important for these nations to sustain their annual rise in their economic growth rates while simultaneously declining the rate of discharge of carbon dioxide emissions. Against this backdrop, this study aims to investigate how financial development, greater primary energy consumption, and technological innovation affect the prospects of the BRICS nations in achieving economic and environmental sustainability. Considering the period from 1990 to 2020 and utilizing methods that are robust to working with cross-sectionally dependent, heterogeneous, and endogenous panel data, the key analytical findings derived in this study reveal that higher levels of financial development, primary energy consumption, and technological innovation boost the per capita economic growth rates of the BRICS nations. Besides, technological innovation also moderates the financial development–economic growth and the primary energy consumption–economic growth nexuses by jointly boosting economic growth rates with these two macroeconomic variables. On the other hand, financial development and higher primary energy consumption are seen to boost the annual per capita carbon dioxide emission growth in these emerging nations, while technological innovation is observed to do the opposite. Furthermore, technological innovation is witnessed to moderate the nexus between energy use and economic growth to further reduce the emission growth rate in the BRICS nations. Accordingly, a set of policies are recommended to the concerned governments in order to enable the BRICS nations to attain the Sustainable Development Goals agenda.
Reinvigorating the Environmental Kuznets Curve Hypothesis in the Context of Highly Polluted Nations: Evidence Using Advanced Panel Estimation Techniques
(Springer Nature, 2023-09-08) Rahman, A. K. M. Atiqur; Galiano, Jesus Cantero; Murshed, Muntasir; Balsalobre-Lorente, Daniel; Mahmood, Haider; Hossain, Md. Emran
China, United States, India, Russia, and Japan are regarded as the top five carbon dioxide-emitting nations in the world. These countries altogether account for more than half of the global annual discharges of carbon dioxide. Consequently, impeding the carbon emission-led environmental adversities in these countries is of critical emphasis for establishing environmental sustainability worldwide. In this regard, this study checks how economic progress, energy use intensification, and renewable energy use affect the annual growth rates of per capita carbon dioxide emission in these highly-polluted economies considering the study period from 1990 to 2021. Besides, for analytical purposes, advanced panel data estimation techniques have been utilized for detecting and neutralizing the impacts of cross-sectional dependency and slope heterogeneity-related problems in the data. Overall, the findings endorse that economic progress deteriorates environmental quality both in the short and long run. However, since the long-run unfavorable environmental impacts of economic growth are relatively lower compared with the short-run impacts, the environmental Kuznets curve hypothesis can be deemed valid. Besides, more intensive use of energy resources is witnessed to impose negative long-run environmental consequences while the adoption of renewable energy instead of fossil fuels is found to improve environmental well-being, both in the short and long run. Furthermore, the results affirm that economic progress and energy use intensification jointly degrade environmental conditions. By contrast, economic progress alongside greater adoption of renewable energy is observed to inflict an environmental quality-improving effect. Considering these findings, a couple of carbon dioxide mitigating policies are suggested to the concerned highly polluted developed and developing nations.
The impacts of globalization, renewable energy, and agriculture on CO2 emissions in India: Contextual evidence using a novel composite carbon emission-related atmospheric quality index
(Daffodil International University, 2023) Alam, Md Shabbir; Duraisamy, Pachiyappan; Siddik, Abu Bakkar; Murshed, Muntasir; Mahmood, Haider; Palanisamy, Manigandan; Kirikkaleli, Dervis
At the 26th Conference of Parties in Glasgow, India declared the environmental agendas of turning carbon neutral by 2070 and substantially lowering its carbon intensity level. Thus, it can be assumed that India is committed to improving its atmospheric health over the next couple of decades. Thus, strategizing plans for limiting carbon emission-related environmental pollution has gone on to become a critically important objective of the Indian government. Against this backdrop, this current study aims to examine the factors influencing atmospheric quality in India. As opposed to the previously adopted approaches in the existing studies, a composite atmospheric quality index is estimated using data concerning different carbon dioxide emission-related atmospheric quality indicators (total carbon dioxide emissions, carbon footprints, and carbon intensity levels). Furthermore, the analysis of the possible non-linear association between renewable energy use and atmospheric pollution makes an additional contribution to the environmental literature. Using quarterly frequency data from 1990q1 to 2018q4 and employing advanced econometric techniques suitable for handling structural break issues, the empirical results reveal that globalization through economic and social channels, agricultural output expansion, and greater population density trigger atmospheric pollution in the long run. Besides, the relationship between renewable energy consumption and atmospheric quality is found to exhibit an inverted U-shape. In this regard, the threshold share of renewable energy in the total final energy consumption level of India is predicted at around 45.75% which is comparatively higher than India’s current renewable energy consumption share. Furthermore, urbanization is evidenced to stimulate the deterioration of India's atmospheric quality, both in the short- and long-run. In line with these major findings, some policy-oriented recommendations are made.
The Marginal Effects of Economic Growth, Financial Development, and Low-Carbon Energy Use on Carbon Footprints in Oman
(Daffodil International University, 22-06-07) Alam, Naushad; Hashmi, Nazia Iqbal; Jamil, Syed Ahsan; Murshed, Muntasir; Mahmood, Haider; Alam, Shabbir
Oman is committed to turning carbon neutral by 2040 whereby identifying the environmental sustainability-stimulating factors has become a critically important agenda for the nation. Against this backdrop, this study attempts to evaluate the marginal effects of economic growth, financial development, and low-carbon energy use on Oman's carbon footprint levels using quarterly frequency data spanning from 1984Q1 to 2018Q4. Controlling for structural break concerns in the data, the results from the empirical analysis verify the carbon footprint-related environmental Kuznets curve hypothesis for Oman in the long-run. In this regard, the threshold level of per capita real GDP level of Oman is predicted at around US $23,500 which is below the average and maximum per capita real GDP level of Oman during the period considered in this study. Besides, the development of the financial sector and scaling up consumption of low-carbon energy resources are evidenced to boost and curb Oman's short- and long-run carbon footprint figures, respectively. More importantly, the joint carbon footprint-mitigating impact of financial development and low-carbon energy use is also unearthed from the findings. In line with these major findings, a couple of relevant policy interventions are suggested to help Oman accomplish its 2040 carbon-neutrality agenda.