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Purpose: This paper provides an analysis of the energy-carbon Kuznets curve hypothesis (CKC) using a second-generation panel methodology. Design/methodology/approach: Specifically, the authors investigate whether energy consumption, natural resources and governance explain the CKC proposition. The study's empirical strategy is based on the Westerlund panel cointegration test, augmented mean group (AMG) and vector autoregressive (VAR) panel Granger-causality tests. Findings: The results suggest that the CKC hypothesis is incomplete without these mechanisms, as they play a critical role in reducing carbon emissions in Africa. The authors recommend improving the environmental standards and proper regulatory and monitoring systems to reduce carbon emissions and promote sustainable development in the continent. Originality/value: The study revisits the CKC hypothesis with particular emphasis on governance and more robust empirical estimation techniques. [ABSTRACT FROM AUTHOR]

Purpose: The study examines the role of natural resources (NRs) and energy consumption in managing the climate crisis in Africa, using annual series data from the World Bank from 1980 to 2019. Design/methodology/approach: The empirical strategy is based on the second-generation panel techniques that account for cross-sectional dependency in the series. Specifically, the empirical evidence is based on the Westerlund (2017) panel cointegration test, panel augmented mean group, common correlated effects mean group and the vector autoregressive (VAR)-vector error correction (VEC) approaches. Findings: Evidence from the panel analysis confirmed the existence of Carbon Kuznets Curve (CKC) U-shaped nexus in Africa, but the country-level results are mixed. Furthermore, results using the VAR-vector correction model indicate possible convergence among the variables across the African countries. NR unidirectionally Granger-causes carbon emissions. The authors suggest the consideration of environmental factors in the utilisation of NRs. Similarly, energy efficiency is crucial to decouple carbon from energy usage. Originality/value: The study complements the extant literature by assessing the role of NRs and energy consumption in managing climate crisis in Africa. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to examine the effects of energy transition on pollution emissions in Africa. In addition, it explores the indirect channels through which energy consumption impacts environmental quality. Design/methodology/approach: The study uses system Generalised Method of Moments approach for a panel of 51 developing African countries over the 1996–2020 period. Findings: The results show that fossil fuel and renewable energy consumption increase pollution emissions. The environment-degrading effect of renewable energy in Africa is however counter-intuitive, though the results are robust across regional economic blocks and income groups except for upper-middle-income countries where energy consumption is environment enhancing. Moreover, the results show that the environmental impacts of non-renewable energy consumption are modulated through financial development and information and communication technology (ICT) adoption, leading to respective positive net effects of 0.04460796 and 0.07682873. This is up to respective policy thresholds of 203.265 and 137.105 of financial development and ICT adoption, respectively, when the positive net effects are nullified. Practical implications: Contingent on the results, the study suggests the need for African countries to develop sound financial systems and encourage the use of green technologies, to ensure that energy transition effectively contributes to emissions reduction. Policymakers in Africa should also be aware of the critical levels of financial development and ICT, beyond which complementary policies are required for non-renewable energy consumption to maintain a negative impact on environmental degradation. Originality/value: Firstly, extant studies on the nexus between energy transition and environmental degradation in Africa are very sparse. Therefore, this study fills the existing research gap by comprehensively examining the effects of energy transition on pollution emissions across 51 African economies. Additionally, besides accounting for the direct environmental effects of energy transition, the current study accounts for the indirect channels through which the environmental impacts of energy transition are modulated. Hence, this study provides critical thresholds for the policy modulating variables, which enlighten policymakers on the necessity of designing complementary policies once the modulating variables attain the established thresholds. [ABSTRACT FROM AUTHOR]

Purpose: This study presents the state of green bond markets in Africa and green bond funds by some countries in the continent. Design/methodology/approach: The authors adopt a case study approach on four different kinds of countries, namely oil-rich economy, green bond innovator, renewable energy user and carbon vulnerability. Findings: The authors found that Africa's green bond is still at the early stages. However, countries are using innovative ways that are adaptable to their current economic conditions and investment attractiveness in issuing green bonds. While some countries focus on central and local government bonds, others use corporate bonds, few combine government and corporate green bonds. Interestingly, the first green bond globally certified by the Climate Bonds Standard was issued by an Africa country in Africa. In some selected countries such as Nigeria, South Africa, Morocco, Namibia and Kenya, green bond markets have seen massive growth and have contributed to numerous infrastructural energy efficiency projects. To expand this market further in these countries, the authors recommend fostering a public–private partnership backed by policies and political will. Originality/value: This study provides an original contribution to the green bond and its likelihood of driving energy efficiency in a continent that has attracted little to no attention in the literature. [ABSTRACT FROM AUTHOR]