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As the EU strives to achieve its climate goals, it is becoming increasingly crucial to understand the complex relationships between economic activity, energy consumption, and carbon emissions. In this context, our paper aims to investigate the correlation between carbon emissions, energy consumption, and economic development. To fulfill our aim, we have used Eurostat and OECD data for the EU-27 member states for a period of 13 years (2010–2022), using a linear regression as the main analysis method. Our results have shown that there is a strong correlation between demand-based and production-based CO2 emissions as well as between production-based CO2 emissions and final energy consumption, while at the same time, our findings have shown that there is no direct correlation between energy consumption and economic development, aligning our study with the neutrality hypothesis of the energy growth nexus. This paper expands the ongoing discussion on sustainable development and climate change mitigation by conducting a thorough analysis of the EU-27 countries over a span of thirteen years. The results emphasize the need for integrated strategies that address both production and consumption emissions, emphasize the vital role of energy efficiency, and raise questions about the effectiveness of increasing energy consumption to enhance economic productivity or CO2 efficiency. [ABSTRACT FROM AUTHOR]

This paper uses a bottom-up national energy technology model to study the optimization of China's energy transformation pathway. The model clarifies specific action plans for China's energy transformation pathway from 2020 to 2060, total carbon emissions, industry emission reduction responsibilities, and other dimensions. The results show that: (1) The proportion of renewable energy consumption in China's entire energy system from 2020 to 2060 will gradually exceed that of fossil energy under ideal circumstances, and the energy system will transition from traditional fossil energy to renewable energy. Meanwhile, the proportion of low-carbon energy sources, such as renewable energy, in primary energy demand will jump from 15.9% in 2020 to over 80% by 2060. (2) China's CO2 emissions will be approximately 3 billion tons, 2 billion tons, and 1 billion tons under three different socio-economic development scenarios of low, medium, and high speed in 2060. At that time, China will still need to absorb CO2 through carbon sinks in forests, oceans, and wetlands. (3) The electricity industry has the highest CO2 emissions compared to other industries. The electricity industry must bear significant responsibility for carbon reduction in future energy transformation and economic development. [ABSTRACT FROM AUTHOR]

In the context of sustainability, the integration of renewable energy into industrial processes not only minimizes dependence on fossil fuels but also contributes to the efficient management of industrial waste. By transforming organic waste, including agri-food and urban waste, into biogas, green energy can be generated, thus reducing the impact on the environment and closing the loop of material used in the economic circuit. Thus, a sustainable system can be promoted, where resources are continuously reused and exploited. Statistical methods and a decision tree with the Classification and Regression Trees (CRT) algorithm were employed to analyze data. The paper focuses on the importance of industrial waste and biogas for the generation, transformation, and consumption of energy in the EU (European Union)-27 countries. To provide a thorough analysis, we have divided these countries based on real gross domestic product (GDP) per capita, grouping them above/below the annual average for the period 2012–2021/2022. Descriptive statistics revealed observable differences between the two groups, but the paper aimed to provide evidence regarding the existence of these differences as statistically significant. Using the Kolmogorov–Smirnov test, the non-normal distribution of the data was confirmed, requiring non-parametric inferential methods. The Mann–Whitney U test revealed statistically significant differences between the two groups for all the studied variables. This comprehensive approach highlights the distinct energy-related characteristics influenced by economic development in the EU-27. [ABSTRACT FROM AUTHOR]

Improving energy efficiency is one of the most effective ways to address environmental constraints and achieve high-quality economic development. The existing literature suggests that technological progress has an important impact on energy efficiency, but ignores the role of different paths of technological progress. Herein, the impact of different technological progress paths on energy efficiency was analyzed using the dynamic panel data model and the threshold model based on the energy efficiency measurement using the Meta-frontier and Nonradial Directional Distance Function model. The findings of this study were as follows: (1) During the study sample period, a fluctuating upward trend was observed in China's energy efficiency, and there were significant differences in energy efficiency in different regions of China. (2) The energy efficiency in China could be significantly improved by domestic innovation and regional technology diffusion. Even though the imported technologies do not play a significant role in promoting energy efficiency and have no positive effect on the improvement of energy efficiency from the perspective of domestic technology absorption or foreign technology absorption. (3) The eastern and central regions of China improve their energy efficiency through domestic innovation. However, none of the technological progress paths in the western and low-energy-efficiency regions have played a positive role in promoting energy efficiency. (4) The effect of promoting domestic innovation and regional technology diffusion on energy efficiency is gradually increasing with human capital improvement, and the restriction of foreign technology import on energy efficiency has obviously decreased. In a nutshell, different paths of technological progress have differential effects on energy efficiency improvements. Based on the above results, this paper makes some targeted policy recommendations on the choice of technological progress paths to improve energy efficiency in different regions of China. [ABSTRACT FROM AUTHOR]

This paper investigates fair (i.e., envy-free and efficient) allocations in an overlapping generations economy without production and with two-period lived agents. We show that there is a conflict between no-envy and efficiency when all generations have identical preferences. This conflict crucially depends on the size of the given young age consumption of the initial old generation relative to the young age consumption at the golden-rule. We then show that there exist non-stationary preferences for which such a conflict does not arise, regardless of the young age consumption of the initial old generation. JEL Classifications: D60, D63, D70 [ABSTRACT FROM AUTHOR]

Scholars have given enormous attention to the roles of energy use and trade in economic growth strategies; however, recent international trade literature suggests that not merely the volume of trade but the diversification of goods may have a potential effect on economic growth. Thus, this paper uses the diversification of export goods and diversification of import goods as explanatory variables along with energy consumption and assessed the role of these important variables in economic development. The empirical results from Westerlund's (J Appl Econom 23:193–233, 2008) and Westerlund's (Oxf Bull Econ Stat 69:709–748, 2007) tests disclosed the existence of cointegration. The long-run estimations obtained from the CUP-FM technique revealed that both import and export product diversifications positively influence economic growth. This presents a vital opportunity for emerging nations to expand growth by diversifying export and import products. Likewise, energy use, labor, and capital contribute to increasing economic growth. The estimates from the causality test illustrated bidirectional causality between export diversification and economic growth and unidirectional causality from energy to export diversification. Finally, policy suggestions to expand economic progress are discussed. [ABSTRACT FROM AUTHOR]

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Energy efficiency and behavioural changes are among the key pillars of decarbonization of the global energy system. Residential sector is responsible for a large share of fossil fuels final consumption, therefore the growth of its energy efficiency can bring a valuable impact on decarbonization speed and scale. In countries with growing economies residential energy consumption can increase dramatically due to the desire of the population to improve their standard of living, therefore striking a balance between economic growth and energy efficiency improvement is a complex policy challenge. The purpose of this study is to analyze attitudes and assess barriers of energy efficient behavior in Republic of Armenia as a country with growing economy and standards of living. The paper contributes to the literature by providing new empirical evidence of consumers' attitude toward different forms of energy efficient behavior in Armenia and reveals how general pro-environmental consciousness and social conditions influence on it. The results of the study prove that the level of general environmental consciousness of the population has a direct impact on the frequency of practical application of various patterns of energy-efficient behavior. As a policy application for emerging economies, our study proposes that the main direction of energy efficiency policy can be education of the population and raising its level of environmental self-awareness. [ABSTRACT FROM AUTHOR]

The objective of this study is to conduct an empirical examination of how renewable energy consumption, carbon dioxide emissions, growth in GDP per capita, and foreign direct investment are interrelated. The empirical investigation is based on panel data spanning 18 years, gathered from nine developed European nations: Germany, the United Kingdom, France, Italy, Spain, the Netherlands Switzerland, Turkey, and Poland, during the period from 2002 through 2019, encompasses significant macroeconomic factors that act as benchmarks for assessing a socioeconomic advancement. Additionally, in light of the drawbacks posed by Carbon dioxide (CO2) emissions, which are a significant hazard to all countries, there appears to be a growing potential for developing preventive measures. Regarding the methodology, various models are examined using panel regression econometric methods. This study utilizes Pooled Ordinary Least Squares (OLS), Pooled Ordinary Least Squares Robust (OLSR), Fixed Effects Method (FEM), and Random Effects Method (REM). A correlation matrix is used to ascertain the interrelationships among the variables under study. Additionally, the findings from the Hausman Test suggest that the Random Effects Method emerges as the most fitting technique for this investigation. Moreover, the regression outcomes obtained through the random effect approach indicate that renewable energy consumption notably decreases CO2 emissions in developed European nations, highlighting its critical role as a strategy for sustainability. While GDP per capita has a negative impact on CO2 emissions and does not indicate a level of significance. Further, Foreign Direct Investment has a positive impact on CO2 emissions although, does not indicate a level of significance. This paper's major goal is to advance our knowledge of this relationship and arrive at fresh insights that could be very useful to policymakers. The study's secondary goal is to bridge the existing literature gap for the specified period and selected countries, with a focus on distinct macroeconomic variables. [ABSTRACT FROM AUTHOR]

As the six central provinces account for 23% of total national carbon emissions (CE), research into the decoupling status of their economic growth (EG) and carbon emissions is critical to achieving the Dual Carbon Goals and the Rise of Central China Plan. This research initially examines the decoupling status between CE and EG using the Tapio decoupling model, based on energy consumption (EC) dataset from six central provinces in China between 2000 and 2019. The decoupling index (DI) is then divided into five decoupling drivers using the LMDI method. Finally, an enhanced STIRPAT model is used to examine the decoupling status of CE and EG in the six central provinces from 2020 to 2040. The research findings are: (1) The six central provinces exhibited a stable decoupling status between 2000 and 2019. The DI of the six central provinces ranged from -1.2 to 3.4. (2) The decoupling performance is influenced mainly by the inhibitory effect of economic development (GI) and the promoting effect of energy intensity (EI). The GI consistently maintains an impact value of around 0.9. EI performance varies widely across provinces. (3) From 2020 to 2040, Anhui, Hubei, Henan, and Hunan show significantly strong decoupling indices distributed between -2.21 and -0.07 in all three scenarios. It is important to note that Shanxi and Jiangxi provinces will experience a Reverse Decoupling phenomenon. These findings are helpful in developing regionally coordinated development policies and strategies for reducing CE. [ABSTRACT FROM AUTHOR]

With the improvement of digitalization and intelligence in the power system, the safe operation of the power system is facing enormous challenges. The safe use of electricity on the load side is the key to achieving safe and reliable power system operation. The detection party needs amounts of human and material resources when the power network is attacked. In response to the current difficulties of low detection ability and high detection costs, this paper proposes an attack and defence game model that considers the differences between different nodes, ensuring the safety and economy of electricity consumption while reducing energy waste. At first, the structure of smart meters and the attack characteristics of intruders are summarized, and a basic attack and defence game model is constructed. The Nash equilibrium is then solved, and the optimal strategy for the game between the defender and the intruder is given to balance the relation between detection performance and energy consumption. In response to the differences generated by each node, strategies for attackers to launch attacks on different nodes and the setting of optimal thresholds for other nodes in the defence system are explored. Finally, case studies verify that the proposed model could reduce the cost of intruder detection while ensuring a specific detection rate. [ABSTRACT FROM AUTHOR]

Since the 1970s, Brazil has carried out the most successful world program of commercial biomass for use and production of energy by stimulating its sugarcane industry and promoting the large-scale production of ethanol nationwide in response to the first oil shock. Today, the technologies behind ethanol production are well established. Brazil is the world's largest sugarcane supplier, producing its ethanol at a competitive price. If other sugarcane producing countries decided to join Brazil's move toward the production of this biofuel, what impacts might there be for each country's economy and employment? This is what we investigate in this paper. Prime candidates for ethanol production include Australia, China, Colombia, India, Indonesia, Mexico, Pakistan, the Philippines, Thailand, and the United States of America. We evaluated the potential socioeconomic impacts of developing this promising industry by using an input–output approach. More specifically, we adapted the Brazilian method of producing ethanol to these countries' distinct economies. We augmented the input–output table of each country, inserting a new ethanol industry based on the Brazilian ethanol production model. We also augmented their new ethanol industry's sales following a hypothetical hydrous and anhydrous ethanol consumption scenario. Thereafter, we reconcile the national accounts, concluding our analysis by quantifying and comparing the different net effects of this new industry for each of the assessed countries for the year of 2009. We demonstrate which industries would be expected to be positively or negatively impacted by this substitution in each country; and find that not all of the countries we assessed would experience positive socioeconomic results from emulating Brazil's production of ethanol. [ABSTRACT FROM AUTHOR]

As the EU strives to achieve its climate goals, it is becoming increasingly crucial to understand the complex relationships between economic activity, energy consumption, and carbon emissions. In this context, our paper aims to investigate the correlation between carbon emissions, energy consumption, and economic development. To fulfill our aim, we have used Eurostat and OECD data for the EU-27 member states for a period of 13 years (2010–2022), using a linear regression as the main analysis method. Our results have shown that there is a strong correlation between demand-based and production-based CO2 emissions as well as between production-based CO2 emissions and final energy consumption, while at the same time, our findings have shown that there is no direct correlation between energy consumption and economic development, aligning our study with the neutrality hypothesis of the energy growth nexus. This paper expands the ongoing discussion on sustainable development and climate change mitigation by conducting a thorough analysis of the EU-27 countries over a span of thirteen years. The results emphasize the need for integrated strategies that address both production and consumption emissions, emphasize the vital role of energy efficiency, and raise questions about the effectiveness of increasing energy consumption to enhance economic productivity or CO2 efficiency.

The current context of economic development requires paying close attention to the energy industry. Since 2022, European countries has been facing specific problems due to energy crises against the background of the geopolitical conflict and the measures provided by European forums in order to reduce dependence on energy imports from Russia. In this context, we aim to define a new model of energy consumption and the function of energy sustainability at the European level, aspects that will lead to highlighting the position of the 27 European member states in the period 2005--2022 in terms of their energy sustainability. The methodology used is based on the study of literature, the consolidation of databases, econometric modelling, and procedures for testing the validity of modelling results. The results of the study are useful to European energy policy decision-makers in view of the necessary adjustments to achieve the objectives of the 2030 and 2050 Agenda. [ABSTRACT FROM AUTHOR]

The use of polluting energy sources for daily household needs can lead to complex issues, ranging from health deterioration and reduced quality of life to adverse socioeconomic consequences. While previous studies have predominantly focused on the health and welfare impacts of dirty energy use, this research highlights the effects of clean energy transition on household socioeconomic development, employing an innovative approach through the Household Development Index (HHDI). This longitudinal study utilizes data from the Indonesian Family Life Survey (IFLS) conducted in 2007 and 2014, revealing the dynamics of household energy consumption changes over a seven-year period. The study employs the Propensity Score Matching (PSM) method to calculate the average treatment effect on the treated of household clean energy transition. The analysis results show that households transitioning to cleaner energy sources experienced a 3.72% higher increase in development index compared to if they had continued using unclean energy. Robustness tests were conducted using the Coarsened Exact Matching (CEM) technique and a combination of CEM-PSM. These robustness tests also yielded similar and consistent results. Impact estimations performed on different sub-samples indicate that the impact of energy transition in rural areas is greater than in urban areas. This research makes an important contribution by presenting new empirical evidence on the comprehensive impact of clean energy transition on household socio-economic development. [ABSTRACT FROM AUTHOR]

In today's world, where economic development and environmental sustainability are becoming increasingly important aspects of national strategy, attention to the impact of different economic sectors on climate change is becoming an integral part of scientific research. This article focuses on analyzing the impact of primary and secondary economic sectors development on carbon dioxide (CO 2) emissions at the sub-national level in Russia from 2005 to 2019. The aim of the study is to provide an in-depth understanding of the relationships between the dynamics of these sectors and CO 2 emission levels in different regions of the country. Weighted regression and panel data methods were applied to better identify the patterns of the impact. The results show that the size of population and electricity consumption have the highest impact on CO 2 emissions. So that, the expansion of nuclear and gas generation capacity, as well as significant improvement of energy efficiency, are of crucial importance to reduce the emissions. Other sectors have a heterogeneous impact and requires more differential approaches, considering the specifics of regions. Taking into account the significant differences between the Russian constituent entities, this paper emphasizes the low informativeness of assessments at the national level and their inadequacy in terms of improving the efficiency of domestic management, including decarbonization policies. • The impact of considered economic sectors on CO 2 emissions were analyzed in 80 Russian constituent entities in 2005–2019. • Weighted regression and panel data methods were used to catch the specifics of Federal districts and constituent entities. • Population size and electricity consumption have the highest impact on CO 2 emissions. • Increasing energy efficiency and modernization of energy facilities are the most promising solutions to reduce the emissions. [ABSTRACT FROM AUTHOR]

Energy is considered the oxygen of an economy fueling all economic activities. Energy utilization and its type have an intertemporal and size-based effect on economic development. Therefore, this study empirically analyzes the relationship of fossil energy consumption with economic development in the case of BRICS countries between 1990 and 2019. Fully modified ordinary least squares is used with the quadratic function of coal, oil, and gas consumption to assess the size-based effect across time. This study shows that coal and natural gas consumption follows the inverted U-shaped relationship with HDI, while coal consumption shows a negative relationship with HDI. Hence, coal and gas energy assists in development when its share is small, while over-consumption hampers development. The BRK" countries "hould optimize coal and gas consumption with respect to economic development. Reducing fossil energy should be substituted with alternative clean energy resources by using advanced technology such as the gasification process. [ABSTRACT FROM AUTHOR]

Identifying road surface types (paved or unpaved) can ensure road vehicle safety, reduce energy consumption, and promote economic development. Existing studies identified road surface types by using sensors mounted on mobile devices and high-resolution satellite images that are not openly accessible, which makes it difficult to apply them to large-scale (e.g., national or regional) study areas. Addressing this issue, this study developed a dataset of road surface types (paved and unpaved) for the national road network of Kenya, containing 1,267,818 road segments classified as paved or unpaved. To accomplish this, this study proposes a method that integrates crowdsourced geographic data (OpenStreetMap) and Google satellite imagery to identify road surface types. The accuracy, recall, and F1 score of the method were all above 0.94, validating the effectiveness of the method. The data sources of the method are freely available, and the method may be applied to other countries and regions. The dataset developed based on the method can provide data support and decision support for local governments to improve road infrastructure. [ABSTRACT FROM AUTHOR]

Environmental degradation, energy consumption, and FDI exert impetus effects on growth. This study is aimed to explore the impact of environmental degradation, energy, and FDI on growth of South Asia economies. The study has applied one step System Generalized Method of Moment (SGMM) on panel data during the period 2010-2023. Diagnostic tests entail that all the basic assumptions of the Classical Linear Regression Model are satisfied. The result of the Sargon test authenticates that the instruments are good. Findings show the encouraging impact of energy and FDI on growth, whereas, environmental degradation has adverse effect on growth of South Asian economies. The study suggests that South Asian countries should ensure foreign direct investment, increase the usage of advanced technology for energy purposes, as well as, explore the wide-ranging policy implications that would encourage an increase in demand for improved environmental quality which will ultimately, ensure the accelerated economic growth. [ABSTRACT FROM AUTHOR]

Conventional panel models that overlook nonlinearity, nonstationarity, heterogeneity and cross-sectional dependency when analysing the energy-growth nexus might produce misleading conclusions. In addressing these issues, this study extends the examination of the nexus by applying nonstationary panel models with common correlated effects (CCE). They involve two estimators, namely CCE mean group (CCEMG) and augmented mean group (AMG) estimators. The main objective is to examine the effects of total and renewable energy consumption on the gross domestic product (GDP) by comparing the top oil-importing and top oil-exporting countries. The datasets are in annual frequency, ranging from 1992 to 2015. The results are compared to ordinary least squares (OLS)-type models that serve as benchmarks. This study innovates the models by incorporating the asymmetric effects of energy consumption into the estimations. The findings reveal a positive correlation between total energy consumption and GDP for both panel groups, and capital input is one of the determinants in all cases. The results disclose evidence of the asymmetric effects of total and renewable energy consumption. The positive impact of total/renewable energy consumption decreases for the top oil-exporting group is more apparent than its increases, signifying the importance of energy conservation. For top oil-importing nations, increased renewable energy consumption impedes the GDP, but the increase in total energy consumption accelerates it. Energy efficiency policies should be implemented in oil-importing countries since the positive impact of total energy consumption is smaller than in the other group. [ABSTRACT FROM AUTHOR]

There has been a shift in focus toward environmentally and economically sustainable forms of economic growth known as High-quality economic development (HQED). However, this study analyzes the impact of tourism development (TD) and renewable energy consumption on HQED in 30 provinces of China, while covering the time period from 2007 to 2021. TD and HQED has been measured with help of Global Moran Index. This study has used dynamic spatial Durbin model (SDM) to measure the dynamic impact of TD index and renewable energy consumption on HQED along with green finance, foreign direct investment and investment in education. The findings from empirical analysis shows that TD has negative impact on HQED and in more developed regions, the relationship is positive, while in the less developed western part of China, the U-shape has been reversed. Central and northeastern China have a U-shaped connection, while it has been noticed the interaction term of TD and renewable energy endorses HQED. In addition, renewable energy consumption, green finance and increase in education investment have positive and significant impact on HQED while foreign direct investment has negative impact on HQED in China. Therefore, in the light of this study policymakers should focus on the quality of tourism industry, green finance for renewable energy supply and enhancing education investment in China to attain the goal of HQED. [ABSTRACT FROM AUTHOR]

With the rapid development of the power industry, the safe and stable operation of the power system has become an important basis for safeguarding economic and social development. In order to adapt to the trend of rapid growth of new energy sources and the demand for transformation and upgrading of the power industry, the capacity allocation scheme of the power system needs to be constantly optimized and adjusted. To address the development planning of new power systems, a new power system development planning model based on two-layer planning is constructed, taking into account the operational output results of various types of units and the interaction between the configuration schemes. Through the analysis of the evolution of the power system in a region in the next 15 years, the development pattern of the new power system in different stages under the high, medium, and low scenarios of new energy development is optimally calculated to guide the development of the power system. The results show that the model can provide a quantitative reference for decision- making on energy policies and power strategies in the medium and long term. [ABSTRACT FROM AUTHOR]

Purpose: There are two factors related to the implementation of the Green Deal. The first relates to economic issues and depends on economic development. The second is related to political actions. The aim of this article is to analyze the impact of political and economic factors on the renewable energy sector. Assuming the idea of common priorities in the EU, it can be hypothesized that the action programs for renewable energy implemented by the EU should enable countries to accelerate their efforts to develop this sector of the economy. Design/methodology/approach: Firstly, k-means analysis will be employed to cluster EU countries based on whether they would achieve the declared target of a 20% share of renewable energy in gross final energy consumption. Secondly, the application of k-means will facilitate the division of countries into groups based on their economic affluence, distinguishing them between richer and poorer nations. Next, the study will utilize the ANOVA, which help determine if the actions carried out by the EU are sufficient to achieve the increasing share of renewable energy. It will consider the diversity of countries in terms of economic and political factors. Findings: The first hypothesis, regarding the significance of the political factor, was successfully confirmed. The analysis conducted revealed that EU countries vary in their implementation of the EU renewable energy objectives. The second hypothesis regarding the significance of the economic factor has been dismissed. It was not confirmed that the degree of economic development has an impact on the growth of the renewable energy sector. Originality/value: It can be assumed that all EU countries would support the policy toward the growth of renewable energy. While various factors play a crucial role in shaping the renewable energy market, it is difficult to find an analysis that explains the lack of significant progress in this sector of the economy. [ABSTRACT FROM AUTHOR]

Theoretical background: The studies on the links between renewable energy consumption and economic growth are of great interest. A search of the literature on the subject reveals a diversity of studies in many respects, including but not limited to the search for a unidirectional or reciprocal relationship. The results of the studies often vary depending on the research method used and the period of analysis, which determines subsequent attempts to understand the issue. Purpose of the article: The aim of this article is to determine the relationship between the consumption of renewable energy sources and economic growth in European Union member states between 2004 and 2020. Research methods: The study was based on the data from the Eurostat database for the period 2004–2020. The study made use of data normalization using the min-max method. The linear regression method was used to assess the relationship between GDP per capita and the electricity indicators available for final consumption and renewable energy sources. Main findings: The study did not find a significant trend between renewable energy consumption and economic growth. However, this fact cannot be taken as establishing the absence of a relationship between the two indicators. Although no strong correlation was observed, some interactions are visible depending on the EU member state, which entitles us to partially confirm the research hypothesis. The differences between the groups of EU-15 and EU-10 countries are not distinct, and extending the set of monitored variables (i.e. carrying out modelling for EU-27 countries) does not have a significant impact on the results of the study, which are similar. [ABSTRACT FROM AUTHOR]

In recent years, the global business landscpae has witnessed a paradigm shift toward sustainable and responsible corporate practices. This transition has been particulalrly pronounced in the energy sector where companies are increasingly recongzing the importance of Non-Financial Reporting Initiatives (NFRI) in shaping their operational strategies. The current study endeavors to delive into the intricate relationship between NFRI and the Weighted Average Cost of Capital (WACC) for energy companies in Pakistan. The current study relied on Partial Least Square Structural Equation Modeling (PLS-SEM) technique to extract useful information about the study topic. The data collected for the period 1999 to 2020 from World Development Indicators. The findings of the study revealed that energy consuption factors are responsiblee for around 31.32% variations in WACC, while economic factors contribute 43.98% variations. The financial factors showed to have 35.72% variations in the WACC. The findings of current study revealed to implement policies fostering sustainable energy practices, robust economic growth, and prudent financial management to positively influence the Weighted Average Cost of Capital (WACC) for enhanced business competitiveness and investment attractiveness. [ABSTRACT FROM AUTHOR]