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    The faster the increase in renewable energy use, the faster the decrease in carbon emissions?
    (Springer, 2024) Akan, Taner; Işık, Ali Haydar; Gündüz, Halil İbrahim
    The annual average near-surface global temperature will temporarily exceed 1.5 degrees C between 2023 and 2027. If this level is irrevocably exceeded, the functions of marine biodiversity, fisheries, and ecosystems may no longer be maintained. In light of this fact, this paper examines whether a shock-like (rapid and substantial) increase in the proportion of renewable energy sources could result in a precipitous reduction in greenhouse gas emissions. In order to accomplish this, the paper analyzes the magnitude and direction of the asymmetric and symmetric impacts of renewables on CO2 emissions, which represent shock-like and ordinary changes, respectively. Second, the paper examines whether there is a functional complementarity between major renewables in reducing CO2 emissions, and whether this complementarity increases when renewables experience asymmetric shocks. The conclusion of the paper is that the negative impact of renewables on CO2 emissions either (i) remains unchanged when they experience asymmetric shocks or (ii) increases by 60-260 percent or 100 percent, respectively, when they experience these shocks simultaneously or separately, respectively. The paper makes two recommendations to prevent the persistent exceeding of 1.5 degrees C. First, policymakers should intensify their efforts to rapidly and substantially increase renewable energy consumption in total. Second, they should accomplish this increase in all renewable sources in a balanced fashion so as to maximize their carbon-reduction effects by functionalizing their green complementarities.
  • Küçük Resim
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    Why are some countries cleaner than others? New evidence from macroeconomic governance
    (Springer Science and Business Media B.V., 2023) Akan, Taner; Gündüz, Halil İbrahim; Vanlı, Tara; Zeren, Ahmet Baran; Işık, Ali Haydar; Mashadihasanli, Tamerlan
    This study aims to investigate why some countries are cleaner than the others with reference to macroeconomic governance (MEG) in order to explain how major macroeconomic aggregates should be governed to mitigate environmental pollution at the level of economic systems. Using per capita carbon dioxide emissions (CPC) as the proxy for air pollution, and macro-non-financial governance (MNFG) and macro-financial governance (MFG) as the proxies for MEG, the study introduces the systemic and fragmented governance of green complementarities (GCMs) and dirty complementarities (DCMs) as analytic concepts to compare the MEG models for managing pollution in 13 high-income countries (HICs), 10 upper-middle-income countries (UMICs), and nine lower-middle-income countries (LMICs) for the period 1994–2014. The paper concludes that (i) HICs reduced their CPC levels thanks to adopting green systemic governance by creating GCMs between both MNFG and MFG variables in the long run; (ii) UMICs experienced a remarkable increase in their CPC levels due to adopting dirty systemic governance by creating DCMs between the MNFG variables, but prevented pollution from being higher through creating GCMs between the MFG variables; and (iii) LMICs experienced the highest comparative increase in CPC due to adopting a fragmented governance in managing both MNFG–pollution and MFG–pollution nexus.