Impact of the Green Deal on copper imports from Russia to the EU

The article analyzes the prospects for copper imports from the Russian Federation to the EU in the context of the implementation of the plan for decarbonization of the EU economy by 2050. It is noted that green economy is more metal-intensive, but in the medium-run, the impact of the traditional drivers (population growth and rising welfare) on the global copper market will remain significant. Similar trends are shown in the EU copper market: in the current decade, the rapid relative growth of the green sectors of the economy and the demand for copper from them will not lead to fundamental changes in the dynamics and structure of the market. At the same time, the introduction of a cross-border carbon adjustment mechanism (CBAM) could disrupt the sustainability of the established business model in the European copper industry. Eight scenarios of the financial burden for copper imports from the Russian Federation to the EU after the introduction of CBAM are presented, showing that the new EU foreign trade instrument will not have a restrictive effect on copper imports from the Russian Federation. However, the increase in the supply of Russian copper to the growing EU market may be constrained by the geographic remoteness of new copper mining and refining facilities.

An Empirical Analysis of the Common Factors Influencing the Sharing and Green Economies

The digital revolution, driven and accelerated by the current pandemic, involves changes to known business models. The innovative model of the sharing economy can be a real and sustainable solution for long-term green economic development. The aim of our research was to determine the common factors of the sharing economy and the green economy and the perceptions of Romanian users regarding them. Our research questionnaire was based on the elements we found in the academic literature. To evaluate the collected data, we used the factor analysis method with the support of the SPSS program. As our study reveals, digitalization as well as inclinations towards saving are factors impacting both the propensity towards sharing and support for the green economy. The demarcation line between the sharing and the green economies is rather fluid, the two realities being under a reciprocal influence. In our model, the green economy develops according to the principles of the sharing economy, going a step further in considering the relationship between society and environment, society and sustainable, eco-friendly behaviour. Although the sharing economy is not necessarily a prerequisite of the green economy, it is, nevertheless, easy for societies or groups that have internalized the lessons of the sharing economy to move forward towards the green economy. This study can be an important tool and a first step for businesses, and, more importantly, for the Romanian public institutions to accelerate the implementation of necessary measures, including legislative ones, in order to promote the further development of these economies.

Theoretical aspects of the formation and development of the ecological economy in Russia

The monograph is devoted to the place and role of ecology and environmental safety in ensuring sustainable socio-economic development of society. In the conditions of the forced transition of the economies of the leading countries of the world from an industrial type to a new formation of a green economy aimed at ensuring the preservation of ecological systems and the maximum reduction of damage to the biodiversity of ecological systems, the Russian Federation faces the task of forming a new course of socio-economic development of society focused on the preservation of natural potential and ecology at a level normal for the maintenance of the vital activity of society, flora and fauna in the foreseeable future and in the long term. The role and importance of environmental safety in the system of ensuring the economic security of the state are outlined, the concept of the ideology of "Global Commons" in ensuring sustainable socio-economic development of society is considered, the problems and prospects of the implementation of the program "Green Course of Russia" are analyzed, special aspects of environmental audit, accounting and control, damage assessment in the field of ecology are investigated. Special attention is paid to the forecast of the dynamics of key environmental indicators for the medium term. The main directions of increasing the effectiveness of the mechanism for ensuring environmental safety in a market economy are proposed. For a wide range of readers interested in environmental economics. It will be useful for students, postgraduates and teachers of economic universities.

An Empirical Study on the Growth of Agricultural Green Total Factor Productivity in the Huanghuai River Economic Zone by Big Data Computing

Facing the new form and situation of the Huaihe Economic Zone, it is of great significance to analyze the sources of growth and the intrinsic mechanism of the green total factor productivity of its economic-ecological system, to grasp the spatial and temporal characteristics of green total factor productivity, and to study the influence of each factor on green total factor productivity to achieve sustainable economic development in the Huaihe Economic Zone. Based on the clarification of economic growth theory, green economy theory, carbon cycle theory, and green total factor productivity theory, this paper identifies and discusses the limitation that the existing research literature often ignores the endogenous role of carbon sinks when measuring green total factor productivity. Then, the green total factor productivity of Huaihe Economic Zone based on carbon cycle from 2004 to 2017 is measured using the superefficient nonradial SBM model. Combined with the GML productivity index, it is decomposed into technical progress and technical efficiency and analyzed in comparison with the green total factor productivity without considering ecological purification capacity (carbon sink) from the perspective of time and space. Finally, the spatial Durbin model is used to analyze the effects of seven variables, including the level of economic development, environmental regulation, R&D level, and openness to the outside world, on green total factor productivity in the Huaihe Economic Zone, and to analyze the direct and indirect effects of each variable on green total factor productivity. TFP based on expected output carbon sink and GDP overall outperforms TFP based on expected output GDP only, mainly because the growth of technical efficiency is underestimated when carbon sink is not considered. Technical efficiency and technological progress are equally important for the growth of TFP in an eco-economic perspective. It is of great practical significance for both the comprehensive understanding of the green total factor productivity level and the improvement path of the ecosystem and the coordinated and sustainable development of the Huaihe Economic Zone.

Institutional structure formation of the global green finance market

The article studies the strategic directions of the Eurasian Development Bank as an important element of the institutional structure of the global green finance market.The current differentiated global structure of green finance market institutions has been shown, and the substantive focus of organisations at two levels of the institutional structure of this market has been shown. A statistical overview of green finance institutions by country, region, type and financial instruments used has been made. The role of multilateral development banks in the structure of such institutions has been shown. The need for the formation of institutions in the green financial market segment as a necessary element of green finance has been substantiated.The structure of institutions on two levels has been given: 1) subjects – participants of the green bond market; 2) a set of institutions developing and shaping the methodology for green financial instruments assessment, standards, taxonomy, ratings. Using the global green bond market as an example, up-to-date statistics and analysis of the broader composition of issuers of green financial instruments by country, world region, sovereign and corporate participants, and development institutions have been presented. Emphasis has been placed on public issuers and the participation of multilateral development institutions in financing green economy projects in various countries. The experience of Eurasian Economic Union countries in developing green finance has been summarised and the prospects for Russia and Kazakhstan in the green finance movement have been noted.The institutions of the differentiated structure of the global green finance market identified in the study have been grouped into two levels depending on the profile of their participation in the green economy; the directions and tools for the prospective development of the Eurasian Development Bank’s green finance activities have been defined; recommendations for prospective aspects of the methodological and analytical activities of the bank in the context of the Eurasian Development Bank Strategy 2022–2026 have been proposed.The study applied an analysis of scientific literature in the field of institutional theory, green economy and green finance, statistical, comparative, factual analysis, review and analysis of information from official websites of international development institutions, government and corporate entities, international rating agencies included in the architecture of the global green finance market.

Environmental Regulation Intensity, Carbon Footprint and Green Total Factor Productivity of Manufacturing Industries

In terms of the development of the manufacturing industry, the Chinese government has carried out environmental regulations and set up production standards for related industries. This is an environmentally-friendly and economic action, which is also in line with the requirements of building a green economy for China. Meanwhile, whether from the micro regulatory measures or the macro government policies, carbon emission is an inevitable problem in the study of environmental problems. This paper will explore the impact of environmental regulation on the green economy based on carbon emissions and study the optimal environment regulation intensity that relates to a direct carbon footprint under the maximum green economic benefits. A SBM-MALMQUIST model is established to measure the green total factor productivity according to 27 Chinese manufacturing industries through the MAXDEA software. It is found that the intensity of environmental regulation has a significant impact on green total factor productivity, and direct carbon footprint also exhibits a partial intermediary effect, participating in the mechanism that affects green total factor productivity. Combined with the industrial characteristics and the above research results, this paper puts forward the adjustment strategy of reasonable environmental regulation for the manufacturing industry, which conforms to the national policy guidance, and will be beneficial in promoting the economic development of the green manufacturing industry.

Research and Optimization of the Coupling and Coordination of Environmental Regulation, Technological Innovation, and Green Development

Environmental regulation and technological innovation play important strategic roles in green growth, and the three systems interact and influence each other. Herein, we used a comprehensive development level evaluation model for calculating the environmental regulation and technological innovation indices for 17 cities in Shandong Province. We used the slack-based measure-data envelopment analysis (SBM-DEA) model to measure green development efficiency. The coupling coordination degree model was used to determine the coordination of environmental regulation, technological innovation, and green development; we divided the cities into three systems: green economy lagging, environmental regulation lagging, and technological innovation lagging. We used grey correlation analysis to explore the factors affecting system development. Eastern coastal cities were better developed in the three systems and the degree of coupling and coordination, like Qingdao and Weihai, and the observed level of technological innovation development, a critical factor in the coordinated development of cities, was lowest in Shandong Province. The grey correlation analysis illustrated that the level of economic development and the level of foreign economic development impacts cities labeled green economy lagging; the impact of pollutant emissions is greater than pollution control expenditure in environmental regulation lagging cities; and the government’s attention and the cultivation and attraction of talent are foundational for technological innovation in lagging cities. Considering these factors, we make recommendations for the optimal development of cities and coordinated development of regions.

Green Energy in the Caribbean: Influence on Toursim and Economic Development

The green energy agenda has become one of the most important issues in international relations. Many island states of the Oceania have taken the course of green economy construction. The Caribbean states are in some way similar to the Oceania ones and have also made several steps towards greener future. Some of these states are tightly connected with international tourism, leading to the high dependence of their economies from touristic revenues. The article examines this interconnection, including economic component in the analysis. The major question of the article is how does (or doesn’t) tourism influence the development of green energy in the Caribbean states. The two major economies examined in the region are Cuba and Dominican Republic as the two examples of the totally different economic systems and approaches to the development of the green energy. The key findings of the article include such conclusions as the possibility of synergetic interdependence between tourism, economy and green energy and the positive effects this interdependence has. The other finding is that the Cuban method of introducing green energy is less effective than the Dominican one. The novelty of the article includes the comparison of the two economic models in the Caribbean and the development of strategies for the green energy proliferation in the countries.