International Journal of Green Economics (7 papers in press)

Regular Issues

• Mathematical models for estimating the economic impact of using forestry land in the European Union  
  by I. Openko, R. Tykhenko, O. Tsvyakh, O. Shevchenko, O. Tykhenko, Ya. Stepchuk, A. Rokochinskiy, P. Volk, A. Shatkovskyі, Ye. Kryvoviaz, O. Chumachenko 
  Abstract: The article presents theoretical and methodological approaches to mathematical modelling of economic indicators of using forestry land. Successful experience of the European Union in the field of forestry from the standpoint of sustainable development in terms of significant anthropogenic, economic and climatic load on natural ecosystems was analysed. Mathematical models of economic indicators of using forestry land in the European Union were made. The obtained results of the research enable to model the policy of forest management on the basis of economic and mathematical calculations in different countries of the world.
  Keywords: forestry land; forest cover loss; mathematical model; forest sector of the economy.
  DOI: 10.1504/IJGE.2026.10075731
   
  
• Dynamic nexus of economy-energy-environment in BRICS countries: a time-frequency analysis  
  by Bhuvaneskumar Annamalaisamy 
  Abstract: This study investigates the association and coherence of energy consumption (EC), economic growth, and environmental quality (Carbon emissions) of Brazil, Russia, India, China, and South Africa (BRICS countries) over the period 1971-2018. We employed wavelet correlation and partial wavelet coherence approaches to determine the associations of EC, economic growth, and carbon emissions (CO2) for the countries with strong economic development and most polluting nature (BRICS). The empirical results for Brazil, China, and South Africa show a weak short-run association between economic growth and EC/CO2 emissions. However, Russia and India have exhibited long-run comovement among economic growth and EC/CO2 emissions while controlling for trade openness. These findings also support the pollution haven hypothesis (PHH). A clear understanding of the complex dynamic interactions between the economy, energy, and environment is possible through wavelet analysis with multiple time-horizons. This study suggests that BRICS countries should adopt/revamp renewable policy interventions that ensure the swift sustainable energy transition, thus contributing to global warming mitigation targets.
  Keywords: economic growth; energy use; CO2 emissions; BRICS; wavelet correlation; wavelet coherence.
  DOI: 10.1504/IJGE.2026.10075542
   
  
• Rising from the pandemic: do ESG factors matter for resiliency in the Italian Stock Market?  
  by Pasquale Marcello Falcone, Antonio Lopolito, Edgardo Sica 
  Abstract: This study examines the resilience of ESG investments across different phases of the COVID-19 pandemic, focusing on the Italian Stock Exchange. We compare the performance of firms included in the MIB ESG index with a carefully stratified control group of non-ESG companies. Using a network analysis approach, the results show a higher degree of resilience among ESG assets, particularly in the post-lockdown phase, when they exhibited a faster and stronger recovery than traditional investments. The findings suggest that firm-level commitments to environmental responsibility, social engagement, and sound governance can enhance market robustness during periods of uncertainty and stress. By providing empirical evidence on the stabilising role of ESG practices, the study contributes to the sustainable finance literature and improves understanding of the relationship between ESG investing and market dynamics. The analysis identifies consumer discretionary, healthcare, and technology as the sectors that benefited most from ESG adoption during the recovery phase.
  Keywords: resilience; Italian Stock Exchange; COVID-19; environmental; social; and governance; ESG; asset correlation networks.
  DOI: 10.1504/IJGE.2026.10075543
   
  
• Investigating the impact of blue economy factors such as tourism, fishing and renewable energy on economic growth: fresh panel evidence from Bangladesh, Myanmar and India  
  by Mst. Jannatul Mawa, Ahsan Habib, Nayem Miah, Imtiaz Uddin, Md. Hasanur Rahman 
  Abstract: The present study examined the factors of the blue economy and measured the influence of the selected factors on economic growth. This study conducted a balanced panel analysis using secondary data spanning from 1995 to 2023. The unit root test results state that variables are stationary at first differences, and there is cointegration. The major findings of this study indicate a positive association between renewable energy use and economic growth. A 1% increase in renewable energy consumption tends to boost economic growth by 0.18%. Tourism has failed to determine economic growth in this selected panel group. More precisely, a 1% increase in fishing value boosts economic growth by 0.44%. The economic significance of fishing in Bangladesh, India, and Myanmar is very high. This study makes a significant contribution by analysing the correlation between the characteristics of the blue economy and economic growth in Bangladesh, Myanmar, and India.
  Keywords: blue economy; BE; economic growth; new panel; green energy; tourism development; Bangladesh; Myanmar; India.
  DOI: 10.1504/IJGE.2026.10075830
   
  
• Microalgae for biofuel production: a critical assessment of technologies, environmental performance, and scale-up challenges  
  by Taofeeq Durojaye Moshood, Gusman Nawanir, Oluwaseun Ruth Alara 
  Abstract: Microalgae represent promising feedstocks for biofuel production due to their rapid growth rates, high lipid content, and superior biomass yields compared to terrestrial crops. This critical assessment examines the technological pathways, environmental performance, and scale-up challenges of microalgae-based biofuel production systems. The review systematically analyses cultivation methods (including open ponds and photobioreactors), harvesting techniques, and conversion processes (thermochemical and biochemical) currently employed in microalgae biofuel production. Environmental performance analysis reveals microalgaes potential for greenhouse gas mitigation through carbon dioxide fixation during cultivation, though life cycle assessments indicate that energy-intensive dewatering and processing steps remain significant barriers to sustainability. Despite theoretical advantages, commercial-scale production faces persistent economic challenges related to high operational costs, energy requirements, and capital investments. The assessment identifies key technological bottlenecks requiring innovation: improving lipid productivity through strain selection and optimisation, developing energy-efficient harvesting and dewatering processes, and integrating biorefinery approaches to valorise co-products. By evaluating these interdependent factors, this review provides a comprehensive framework for researchers, industry stakeholders, and policymakers to advance the development of economically viable and environmentally sustainable microalgae biofuel production systems.
  Keywords: microalgae; biofuels production; algae fuel manufacturing; sustainability.
  DOI: 10.1504/IJGE.2026.10075859
   
  
• The load capacity curve and foreign aid in recipient countries: an empirical investigation  
  by Nouran M. Taha, Dalia M. Ibrahiem, Rasha Sameh 
  Abstract: Despite growing interest in the load capacity factor as a comprehensive indicator of environmental quality, research on its determinants, especially in cross-country and developing economies contexts, remains limited. This study examines the load capacity curve, linking environmental quality (measured using the load capacity factor) and economic growth, while exploring how foreign aid influences ecological outcomes in developing nations. The analysis follows a two-step approach. The study first employs quantile regression, identifying an N-shaped load capacity curve across quantiles. Next, a threshold model is employed to capture the nonlinear impact of foreign aid. Results reveal that lower aid levels correlate with environmental degradation, but exceeding a 7% gross national income threshold shifts the relationship to positive. Notably, this threshold alters the curve from N-shaped to inverted-N, emphasising that no universal pattern exists across developing countries. These findings emphasise the importance of foreign aid in guiding economic growth toward more sustainable outcomes.
  Keywords: load capacity curve; LCC; official development assistance; renewable energy; quantile regression; threshold model.
  DOI: 10.1504/IJGE.2026.10075968
   
  
• The club convergence in green economy: evidence from 120 countries during 2010-2020  
  by Xiaohang Ren, Qian Lu, Yi Jin 
  Abstract: The neoclassical theory posits that an economic system often presents multiple stable equilibria in response to short-term shocks, rather than a sole equilibrium. Contrary to the conventional -convergence approach that emphasises the convergence of equilibrium across all nations, the club convergence methodology uncovers the diverse trajectories of green economic growth among different countries. Utilising global green economic growth data from 2010 to 2020, this paper distinguishes four types of club convergence and delves into the potential factors shaping the emergence of these clubs. The results indicate that energy vulnerability, the human development index, and GDP per capita enhance a countrys probability of joining high green economic growth clubs, whereas per capita carbon emissions, the unemployment rate, and the urbanisation rate diminish the likelihood of belonging to these high-growth clubs. Additionally, this paper presents substantial evidence on how spatial spillover effects and temporal effects collaboratively impact the formation of various clubs. Through these analyses, this paper furnishes novel theoretical perspectives on the geographical distribution of green economies and their determinants, and advocates for the formulation of differentiated green economy policies in accordance with each countrys economic structure and green development level.
  Keywords: green economy; club convergence; energy vulnerability; spatial spillovers.
  DOI: 10.1504/IJGE.2026.10075969