![]() ![]() Climate change may stress these interdependencies, together referred to as the energy-water nexus, by reducing water availability for hydropower generation and by increasing irrigation and electricity demand for groundwater pumping, among other feedbacks. This study also offers some useful policy implications to the stakeholder in general and specifically concerning the GCC countries for promoting their environmental sustainability.Įlectricity and water systems are inextricably linked through water demands for energy generation, and through energy demands for using, moving, and treating water and wastewater. Furthermore, the findings are robust to various robustness checks that we have performed for checking the reliability of our main findings. Additionally, in order to account for the national heterogeneity, we have performed country-specific analysis and interestingly, results reveal that globalization, financial development, and energy utilization negatively influence the environmental sustainability in each sample country that is consistent with the findings of overall panel. The results of this study show that globalization, financial development, and energy utilization are significantly deteriorating the environmental quality in the GCC countries. We have employed a relatively comprehensive proxy, i.e., ecological footprint for environmental sustainability and more advanced and robust econometric strategies (second-generation) to examine the impact of globalization, financial development, and energy utilization on environmental sustainability in the GCC countries, which have a significant departure from the extant literature. GCC countries are currently experiencing higher demand and utilization of energy resources, high global integration, and improvements in the financial sector that poses serious environmental sustainability challenges. This study investigates the impact of globalization, financial development, and energy utilization on environmental sustainability in the Gulf Cooperation Council (GCC) countries. ![]() The results also indicate that while 6.21% and 0.3% disagree and strongly disagree, 11.81% of the respondents were indifferent regarding their willingness to accept renewable energy development and utilization in Ghana. The study observed that a majority of the respondents (i.e., approximately 45.65%) agree to their WTA renewable energy, while 36.04% strongly agree. However, the level of acceptance varies from one respondent to another. ![]() From the results, it was observed that there is a general sense of acceptance of renewable energy among Ghanaians. The five-point Likert scale was employed to rank their willingness to accept (WTA) RE. A total of 999 valid questionnaires out of 1020 distributed questionnaires were considered for the study. This study was conducted to evaluate RE's social acceptance among Ghanaian people using the ordered logit regression model. However, this cannot be achieved without the Ghanaian people's support since the RE sector is capital intensive and requires both public and private sector participation. Therefore, the government has committed to increasing the share of RE in the country's electricity generation mix to some 10% by 2030. Despite the enormous renewable energy (RE) resources available in Ghana, the country has not seen much development and investments in the sector. ![]()
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