Analyzing the Socio-Economic and Energy Implications of Green Economy Transition Across Six EU Member States

Costinela Fortea, Marius Sorin Dinca, Romeo Victor Ionescu, Monica Laura Zlati, Valentin-Marian Antohi
European Research Studies Journal, Volume XXVIΙ, Issue 1, 288-301, 2024
DOI: 10.35808/ersj/3361


Purpose: The transition to a green economy is on the European Agenda as a main objective together with climate neutrality whose implementation horizon is 2050. In order to achieve this significant objective, the European Union promotes a regulatory framework based on directives, actions and plans with a view to linking the economy with sustainable development objectives and projects to protect the environment and combat climate change. Design/Methodology/Approach: In this context, we propose to carry out a study on the economic-energy impact of the transition to a green economy by selecting 6 countries according to the criteria for action against climate change and the greenhouse gas emission reduction targets for 2020. The 6 Member States analyzed are Belgium, France, Italy, Germany, Luxembourg and the Netherlands. Findings: The research develops an econometric model of the energy-economic impact of the transition to the green economy based on a methodology that includes econometric modelling of databases using the multiple linear regression method and the use of the GLMM generalized linear mixed model to quantify the transition effort to the green economy in the countries under analysis. Practical impliations: The results of the study will demonstrate the level of impact of renewable energy use on financial development and economic growth and quantify the effects of implementing the transition to the green economy in terms of implementation costs and benefits. Orginality: The conclusions of the study will present the main public policies proposed to foster the transition to a green economy in line with the research results.

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