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European Union (EU) countries pay meticulous attention to environmental issues and achieve carbon-free development. In this direction, reducing greenhouse gas emissions and extending renewable energy are the primary goals. At the same time, the energy price and declining energy efficiency increase countries’ environmental expenditures and hinder their capabilities for economic growth. Against this backdrop, this research aims to examine the influence of environmental regulations, renewable energy, and energy efficiency on green economic growth. The originality of the study is twofold: first, it evaluates the green economic growth of a country, which simultaneously reveals the options for economic growth and the capability to eliminate its negative effect on the environment by applying the Global Malmquist–Luenberger productivity index; second, it develops an econometric model based on panel data for EU countries for 2000–2020 to investigate the nonlinear impact of environmental regulations, the effect of extending renewable energies, and the growth of energy efficiency on a country’s green economic growth. The study applies the following methodology: a system generalized method of moments (GMM) analysis. The empirical results confirm the U-shape, nonlinear impact of environmental regulations on a country’s green economic growth along with a gradual increase in energy efficiency. In addition, the findings indicate that renewable energy is crucial for furthering a country’s green economic growth. At the same time, environmental regulation has a significant role in extending renewable energy. The study results could be used as the basis for implementing green economic growth for EU countries and improving the policy of carbon-free development of these countries.

The intensification of countries’ growth causes the depletion of natural resources, biodiversity degradation, ecological imbalances, damage, and disasters. The aggravation of ecological issues requires the development of mechanisms for simultaneous achievement of economic, social, and ecological goals. The energy sector is the core direction of economic decarbonization. Therefore, green economic growth requires economic development due to the extension of innovative technologies for renewable energies and relevant investment for that. The study aims to test the hypothesis on the impact of green field investment on green economic growth. The object of the research was countries in the European Union (EU) for 2006–2020. This study applied the Malmquist-Luenberger Global Productivity Index to estimate green economic growth. It considers the resources available for the production process in the country (labor, capital, energy), the desired outcome (gross domestic product) and undesirable results (emissions to the environment) of this process. The study applied the Tobit model to test the hypothesis. The findings confirm the spatial heterogeneity of green economic growth among the EU countries. The asymmetry in technological efficiency and progress limits the efficacy of green innovations. At the same time, the obtained data confirm the research hypothesis. It is shown that along with green investments, economic openness and the efficiency of public governance have a positive effect on the green economic growth of countries. The findings highlight the importance of attracting green investments to increase green innovations in renewable energy, which boost green economic growth. This study explored the linear and direct effects of green investment on the green economic growth while eliminating the transmission impact of other mediating factors. It should be noted that further research should analyze the nonlinear impact of green investment on the green economic growth and the mediating effect, which could be caused by other variables (corruption, governance efficiency, green innovations, etc.).

Digital transformation has already begun to play a significant role in helping EU countries to achieve sustainable values by promoting environmental, social and governance (ESG) efficiency. It is rapidly changing the economic landscape, which leads to changes in all sectors and at all levels. The European Union (EU) has set ambitious goals for sustainable development and climate change mitigation, such as the European Green Deal and the 2030 Agenda for Sustainable Development. The paper aims to test the spatial spillover effect of digitalization on ESG performance for EU countries for 2008–2020. The study applies the spatial Durbin model to check the research hypothesis. The empirical results revealed that the EU exhibits varying levels of ESG performance. Digital transformation has the potential to enhance ESG performance and has shown significant spatial spillover effects. The SDM estimates that a 1% increase in digital inclusion results in a minimal 0.001% increase in the ESG index. The statistically significant positive effects observed in key enablers, digital public services for businesses and citizens, highlight the contribution of digitalization to improving ESG performance. In addition, technological innovation serves as a critical conduit for transmitting digital transformation in the business and public sphere to ESG performance. Given these findings, policymakers are advised to strengthen digitalization efforts to narrow the digital divide, leveraging the digital economy as a potent instrument. Additionally, a dynamic and targeted strategy for digital economic development should be implemented to address ESG performance disparities effectively.

The ambitious goal of the European Union (EU) countries is to achieve carbon neutrality by providing inclusive economic growth, which requires the development of relevant incentives and initiatives. Furthermore, such incentives and initiatives should guarantee the achievement of the declared goals. Energy sectors are the core determinant of inclusive economic growth. Traditional energy resources (coal oriented) have a higher negative impact on nature and people’s well-being than on economic and social benefits. However, the transition to renewable energy raises new issues in achieving goals of inclusive economic growth: affordable and clean energy, responsible energy consumption, and energy infrastructure. The analysis of the theoretical framework found that the digitalization of government could be a core instrument for handling the abovementioned issues. The paper aims to justify the role of green energy in achieving inclusive economic growth empirically. The study applies the following methods: fully modified Ordinary Least Square (OLS) and canonical cointegrating regression. The findings allow concluding that institutional quality passively affects inclusive economic growth and that the digitalization of government has a U-shaped impact on inclusive economic growth. In this case, countries should boost the digital transformation of public services and continuously increase the quality of institutions.

The European Union (EU) countries have declared the ambitious goal of providing carbon-free economic development. Considering this, the EU countries are going to pursue relevant policies for a step-by-step refusal of mining and coal energy, consequently reducing greenhouse gas emissions. The analysis of the theoretical background showed that renewable energy is the core dimension of reducing greenhouse gas emissions. In this case, the paper aims to justify the impact of core dimensions (knowledge spillover, innovation, and environmental regulation) that could boost renewable energy penetration into all sectors and levels. The following methods are applied to test the hypotheses: stationarity testing in panels; cross-section dependence testing; cointegration testing; and estimation in heterogeneous parameter models. The data are obtained from Eurostat, the OECD, and the World Data Bank. The object of research is the EU country in the period 2010–2020. The findings confirm the hypothesis on the statistically significant impact of innovation and knowledge spillover on renewable energy. In addition, environmental regulation has a mediating positive effect on interconnections among knowledge spillover, innovations, and renewable energy. In this case, countries should boost the development of appropriate environmental regulations, which should be effective and transparent for all stakeholders.

The overcoming of the issues on energy crisis and inequality have become the priorities as far developing as developed countries are concerned. Moreover, energy inequality has increased due to the shortage of natural gas and rising energy prices in retaliation to the economic recovery affected by the COVID-19 pandemic. This study aims to verify the linkage between the growth of renewable energy consumption and the country’s economic advancement. In this context, this paper determines the main driving forces of renewable energy consumption in European countries during 2000–2018. The annual data for panel regression analysis are retrieved from the OECD. Stat and World Bank Open Data. This empirical analysis employed a set of estimation procedures such as the panel unit root test (Levin, Lin & Chu; Im, Pesaran, Shin W-Stat; ADF-Fisher Chi-square; and PP-Fisher Chi-square methods), the Pearson correlation, fixed- and random-effects models, generalized method of moments (GMM), Hausman and the robustness tests. The results from the Hausman test ratified that the fixed-effects regression model is more suitable for involved panel balanced data. The results of fixed-effects regression and GMM identified the statistically significant and positive relationship between the share of renewable energy consumption of total final energy consumption, GDP per capita, and CO2 emissions per capita for the overall sample. In turn, the total labor force, the gross capital formation, and production-based CO2 intensity are inversely related to renewable energy consumption. The identified effects could provide some insights for policymakers to improve the renewable energy sector towards gaining sustainable economic development.

The development of the digital economy has become a new way to respond to the epidemic impact effectively. With the innovative breakthrough of information and communication technology, the digital and real economies are deeply integrated. The digital economy has become an important driving force for the transformation of economic momentum and development. Panel data from 31 provinces in China from 2010 to 2019 were selected for analysis. In the first stage, the study constructed the evaluation index system of digital economy development. Then, the quality development index of the digital economy is calculated by using the entropy method. Finally, the main factors of digital economy development are analysed by spatial measurement. The research results prove that: (1) the development of China’s digital economy in 2010–2019 has gradually increased; (2) the development of the digital economy has a positive correlation between regions and has a spatial spillover effect; (3) the level of economic development, urbanisation, government support, industrial structure, and the level of opening will promote the development of the digital economy. First published online 30 November 2022

The Green Deal policy and Sustainable Development Goals require that the economic development of a country should be reoriented towards ‘green‘ economic development. Currently, the globalisation and intensification of production boosts urbanisation in many countries, which may stimulate economic growth and improve citizen well-being, but may also lead to excessive consumption of resources and negative environmental impacts. Against the backdrop of these challenges, it is expedient to estimate the effects of urbanisation on the green growth of a country and define the relevant changes and instruments for achieving green growth in a country in view of urbanisation. The research covers the EU countries and Ukraine (as an official candidate for European Union membership) in the period of 2005–2020. Applying the Global Malmquist–Luenberger productivity index (to estimate green economic growth); a fixed and random effects model, GMM modelling (to evaluate the impact of urbanisation on green economic growth), this study aimed to contribute to the theoretical framework of green economic growth by extending input and undesirable output parameters of a country’s productivity. The findings revealed that, in 2020, as compared to 2005, green economic growth went into a decline in all countries analysed, this decline stemmed from accelerated urbanisation. However, industrial structure and research and development appeared to be conducive to green economic growth, which justifies the idea that countries should focus on implementing structural reforms for the technological modernisation of infrastructure and industrial complexes to dispose of the shortcomings caused by urbanisation. To compensate for this negative impact, the findings of this research prompt a set of policy implications concerning dissemination of the green knowledge and technologies, green project implementation, reinforcement of incentive instruments and achievement of a synergistic balance of economic and ecological targets underlying the SDGs.

The relentless advancement of digital technologies has the potential to significantly reshape the energy landscape as digital technologies become increasingly integrated into diverse sectors of the economy. This study explores the intricate relationship between digitalization and energy in EU countries, focusing on its direct and indirect impacts on energy consumption, structure, and intensity. Furthermore, this study explores the mediating mechanisms that facilitate these changes, including the role of technological innovation and government efficiency in the relationship between digitalization and energy outcomes. Focusing on EU countries and using the system-GMM method, this research accounts for the heterogeneity in the impact of digitalization on energy across various member states. It examines the varying effects in different countries, considering their income levels, environmental regulations, and green investments. The results demonstrate that the strategic deployment of digitalization in EU countries substantially benefits the energy sector. By optimizing energy consumption and enhancing the energy structure through the integration of renewable sources, the EU could move closer to its sustainability objectives.

The paper analyses the linkages between GDP per capita, greenhouse gas (GHG) emissions, and renewable energy (RE) in the total final energy consumption and green investments (PICE) which are measured as private investments, jobs, and gross value added related to circular economy sectors. The object of the analysis is the EU countries during the 2008-2016 period (crisis and post-crisis period). In the paper, data from the following databases was used: the Eurostat, the World Data Bank, and the European Environmental Agency. For addressing the linkages between the aforementioned indicators, the following methods were applied: panel unit root test, Pedroni panel cointegration tests, and the fully modified ordinary least squares (FMOLS) and dynamic ordinary least squares (DOLS) panel cointegration techniques. The findings show that FMOLS and DOLS demonstrate the same results as GHG, PICE, RE influence on GDP of the EU countries. The findings prove there is linking between gross domestic product per capita, greenhouse gas emissions, renewable energy in the total final energy consumption and green investments. The findings also show that green investment (PICE) could provoke the growth of GDP per capita by 6.4%, the decline of GHG by 3.08%, and the increase of renewable energy in the total final energy consumption by 5.6%.