Assessing the Nexus among Institutional Quality, Sustainable Development, Environmental Sustainability on Tourism: A Panel Data Analysis in BRICS Economies

Tourism is crucial for a country's economic development, especially in emerging economies like that of the BRICS countries. As Tourism is a substantial industry with a large workforce and a considerable influence on society, culture, and the environment. This research is a qualitative study followed by a review of the existing literature. This study uses various existing literature from books, journals, and qualitative research papers. The findings of this thorough study are crucial reading for BRICS officials and stakeholders as they provide light on the connections among tourism, economic growth, sustainability, and institutional performance. This will help determine whether the BRICS countries' environmental sustainability has reached a tipping point, which is the point at which economic growth starts to have a beneficial impact on the environment and maybe on tourism. Policymakers may promote sustainable tourism and environmentally aware growth and development in these important and dynamic industries by understanding these relationships.

Objective – Sustainable insurance is the new concept that emerges in the current state, that every country adopting now. The objective of the study is to identify the insurance industry's role and contribution to promoting environmental sustainability. To outline sustainable insurance and sustainable/green products and services. Methodology – This paper explores the contribution of the insurance industry and its role in promoting environmental sustainability and social development. This is a theoretical paper, focused on the secondary sources of data from research publications, websites, books, journals, and articles. To achieve the objectives, this study will critically review previous literature and assess contemporary views from different perspectives. Findings– Various insurers are frequently focusing on their progress, enhancing their share of the market, and maintaining better risks to achieve marketplace success. Insurers should always be on the lookout for new ways to set themselves apart from the competition. The implication for insurers is that their actions matter a lot when it comes to environmental issues and providing green insurance solutions can open new business opportunities for the industry. The answer may lie in marketing new products related to potential climate change and the corresponding sustainability/green insurance. Novelty – Sustainable insurance is aimed primarily at developing innovative or green products and services, reducing risk, improving company efficiency, and supporting environmental, social, and financial sustainability. There hasn't been a general overview of the role of insurers in enhancing environmental sustainability and social development done yet. Theoretically, our work aids policymakers and other stakeholders in better understanding the role of insurers in enhancing environmental sustainability and social development. Type of Paper: Review JEL Classification: G20, G22, G23. Keywords: Insurance, Sustainability, Green insurance, Green products and services, Sustainable Development.

This article examines for the first time the impact of disaggregated energy sources and institutional quality on the ecological footprint (EF) of 29 OECD countries, by explaining how the diversification in countries' energy mix and their institutional performance are associated with sustainable environmental performance. We use panel data from 1984 to 2016 and we apply second-generation techniques to arrange the critical issues of cross-sectional dependence and heterogeneity. The applied cointegration tests expose a long-run equilibrium relationship that associates renewable/non-renewable energy consumption, economic growth, institutional quality, and the EF of OECD countries. The robust cross-sectional augmented distributed lag (CS-DL) estimator shows that economic growth and the adoption of non-renewable energies are detrimental to the environment, while the operational quality of institutions adds to ecological sustainability. Concurrently, the negative effect of renewables on EF does not seem to cause a significant beneficial impact on the environment. Moreover, there is evidence that non-renewable energy and institutional quality have a bidirectional causal association with EF. Also, a weak unidirectional causal effect is running from the EF to renewables consumption. The study further demonstrates the inefficient integration of renewable energy forms in OECD countries and the concomitant essential role of institutions on environmental sustainability by providing relevant policy orientations.

Top managers’ environmental values, leadership, and stakeholder engagement in promoting environmental sustainability in the restaurant industry

The quest for rapid economic development by modern nations has led to an unprecedented increase in carbon emissions. Knowledge spillovers from increasing trade activities and effective environmental regulations have been suggested as viable means of controlling these rising emissions. To that end, this study aims to examine the impact ‘trade openness’ and ‘institutional quality’ had on CO2 emissions in BRICS countries from 1991 to 2019. Three indices, namely, institutional quality, political stability, and political efficiency, are constructed to measure the overall institutional impact on emissions. A single indicator analysis is conducted for a deeper investigation of each index component. Given the existence of cross-sectional dependence among variables, the study uses the modern dynamic common correlated effects (DCCE) method to estimate their long-run relationships. Confirming the pollution haven hypothesis, the findings reveal that ‘trade openness’ indeed is a cause of environmental degradation in the BRICS nations. Through reduced corruption, improved political stability, bureaucratic accountability, and better law and order, ‘institutional quality’ is found to be contributing positively to environmental sustainability. It is also confirmed that renewable energy sources do have a positive environmental impact; however, it is found to be insufficient to offset the adverse effects caused by non-renewable sources. Based on the results, it is advised that BRICS countries should strengthen their cooperation with developed countries so that positive spillovers of green technologies may occur. Moreover, renewable resources should be aligned with firms’ profits so that sustainable production practices can become the new norm.

Systemic sustainability assessment: Analyzing environmental and social impacts of actions on sustainable development

The BRICS region has considered achieving environmental sustainability a top priority in terms of policy. Environmental distress is mostly brought on by the region’s continued reliance on fossil fuels to supply local energy needs. Besides, the region has historically been a significant importer of fossil fuels, making it difficult to substantially reduce the region’s reliance on them. As a result, the BRICS nations’ greenhouse gas (GHG) emission rates have steadily increased over time. Moreover, the region offers vast untapped amounts of renewable energy sources that may be used to generate power without adversely harming the environment. In light of this, this paper examines the combined effects of green finance (GFN) and financial technology (fintech) in achieving the region’s carbon neutrality goals from 1990 to 2020, while controlling for energy innovation, economic growth and natural resources rent. The results for the BRICS economies, which are supported by the EKC hypothesis, suggest that GFN, fintech and energy innovation (ENI) promote environmental sustainability. However, natural resources rent (NRR) and economic growth (GDP) degrade environmental quality. Additionally, it has been shown that the bidirectional causality exists between CO2 emissions and GFN, fintech, and NRR. However, GDP and ENI have been shown to exhibit unidirectional causality with CO2 emissions. Based on the empirical findings, it is suggested that the BRICS countries should speed up the development of green financial products and expand the ability of banks and financial institutions to provide green credit facilities, and put into the research on the usage of GFN solutions.

The main objective of this study is to explore whether the promotion of green mobility turns out to be a mechanism for the development of sustainable cities and environmental sustainability. The Valparaíso trolleybus is selected as a case study, since (1) it is a green means of transportation, (2) it facilitates the urban mobility of the inhabitants, (3) it decongests traffic and pollutes the place, (4) they are part of the city's industrial heritage legacy, (5) in addition to being a green means of transport, they are a reminder of the city's heritage-tourism heritage. The methodology is carried out through an analysis of the historical route of the trolleybus in Valparaíso, followed by an analysis of the energy efficiency of this means of transport compared to other options. It is concluded that promoting green mobility does turn out to be a mechanism for the development of sustainable cities and environmental sustainability, as observed in the case of the Valparaíso tram.

Protecting and improving environmental quality is essential for sustainable development. This study considers natural resource depletion, resource tax, institutional quality, and green innovation, which are likely to impact environmental quality. These issues are addressed by Sustainable Development Goals (SDGs) 7, 12, and 18. The study aims to uncover the influence of the variables we have considered on environmental quality in a sample of 18 Organisation for Economic Co‐operation and Development (OECD) countries from 1994 to 2020. Before panel data analysis, we conducted preliminary tests to determine the most suitable techniques. The econometric procedure comprises four stages: unit root analysis, cointegration analysis, estimation of long‐run coefficients using two different methods, and panel causality analysis. The empirical findings suggest that resource tax and green energy innovation positively impact environmental quality for the panel in the long run. Results based on the country show that institutional quality has a negative impact on environmental quality in Portugal but a positive impact in Luxembourg. Although resource taxes positively impact environmental quality in Portugal, they harm Luxembourg. Lastly, natural resource depletion negatively impacts environmental quality in Luxembourg. There are no statistically significant results for other countries. The study concludes with policy recommendations.

The present volume of the IOP Conference Series: Earth and Environmental Sciences participates in the 1st 2022 International Conference on Sustainable Environment, Development, and Energy (CONSER 2022) to be held in Sanur, Denpasar City, Bali, Indonesia on December 5 - 6, 2022. The conference with the theme of “Energy and Sustainable Environment” was organized by the Institut Teknologi Nasional Yogyakarta (ITNY), Indonesia and in cooperation with Naresuan University, Thailand and Universiti Teknologi MARA (UiTM), Perak Branch, Malaysia as co-organizers.The CONSER 2022 is the first series of conferences that brings together researchers from all over the world to present and discuss the latest research, contribute to sustainable environment, technology and sustainable development and energy resources, and encourage more research cooperation. The will of the authorities, together with the important role of scientists in creating various opportunities is to strengthen the research culture and downstream research outputs, ultimately solving problems in industry and society.The conference technical program includes five keynote speakers, invited speakers, oral, and poster presentations. Session tracks included Urban Studies and Sustainable Environment, Climate Change and Geosciences, Technology and Development, Material Science and Energy. The conference was attended by over 100 scientists and engineers from 20 countries with diverse backgrounds from academia, government, and industry in Asia, Africa, Europe and America. Oral presentations in hybrid format (offline and online) include 84 full papers, 15 abstracts, and 9 posters. All papers presented formed the core of the conference, focusing on the conference theme and providing many opportunities for discussion, ultimately leading to a sustainable environment and energy. Distinguished plenary speakers from five leading experts presented their outstanding research achievements in various areas of Environment and Sustainable Energy. This public lecture was held on the morning of the first day after the opening ceremony. Presentations cover a wide range of conference topics, from disaster management to new materials for energy. The keynote speeches and progress reports on their research build bridges between different subject areas in energy, climate change, economics, and urban development, and provide insight into new areas for non-experts. In addition to the main conference, awards have been given for the best paper, best presenter, and best poster.Papers for this conference have been selected following a rigorous peer review process. All papers were all reviewed by international and national peer reviewers, and a minimum of three reviewers were required to review each full paper. On this occasion, we would like to thank the organizing committee, authors, reviewers, and volunteers for their professionalism, and for always working hard to make the conference a success. Contributions and presentations also make this event a very exciting forum, adding value to learning, discussion and exchange of ideas, and to all speakers and authors meeting and interacting with old and new people from different countries. We would also like to express our sincerest gratitude to our sponsors: PT. Putra Perkasa Abadi for making this conference so worthwhile. We hope that future CONSER conferences will be as exciting as the last one, where the evidence of contribution shown through these proceedings is very promising.List of Wayan Suparta, Proceeding Editor, Member of Editor, Technical Programme Committee are available in this Pdf.

The research aims to achieve social, environmental, and economic well-being as a matter of social responsibility for all, which enhances its sustainable performance for economic units to carry out their duty towards society and issues of protecting society and the environment. The research problem was represented in the lack of interest in social responsibility and sustainable social and environmental performance from some economic units in light of the developments taking place in various aspects of life, which urgently needed the role of these units to enhance sustainable performance and achieve well-being. To achieve the goal of the research, it was relied on relevant studies and research and building a proposed framework as well as the contributions made by these units through their social and environmental responsibility and to clarify their important, vital, and future dimensions and that sustainable development in its social, environmental and economic aspects is the general framework under which social responsibility falls. The research concluded that economic units provide services to enhance their social responsibility; which is the basis for sustainable development and the application of performance evaluation criteria for the social and environmental sustainability of the unit. Therefore, social responsibility, especially for economic units, is a competitive strategic necessity for them, which leads to an increase in their profits to achieve success for the economic unit and the social, environmental, and economic well-being of society. The most important thing recommended by the research is to urge and encourage the economic unit to realize the importance of social responsibility and the performance of its duty and standards that apply social and environmental sustainability and the establishment of a culture of social responsibility in societies to become a practical behavior, culture, and approach for all.

In this study, which aims to examine all of the articles and theses in the field of education in Turkey on the basis of the concepts of sustainability, environmental sustainability and sustainable development, and to address sustainability in all its dimensions, the data were analyzed by meta-synthesis (thematic content analysis). Within the scope of the research, 232 study and education subject areas accessed from the Turkish Higher Education Institution National Thesis Center and DergiPark databases were discussed in the context of the key concepts of "sustainability, sustainability, sustainable development, sustainable environment, environmental sustainability". In the data analysis process, the subject of the research, its method, data collection tools, sample, data analysis, results and suggestions were examined. In most of the studies examined, it is aimed to measure attitudes, perception, awareness and competence towards sustainability and it is seen that the most quantitative method is preferred. While the most educators are selected as the sample group, the size of the study group is between 301 and 1000. Likert-type questionnaires were used in quantitative research and semi-structured interviews were used in qualitative research. While inferential analyzes were preferred the most from quantitative analyzes, content analysis was preferred from qualitative analyzes. It has been observed that there are many studies that increase belief, attitude, perception, awareness, value and tendency in studies where trainings are given within the scope of sustainability. It is seen that there are themes such as curriculum review, scale development and institution review. Recommendations are grouped and presented to researchers, educators, politicians and parents. Based on these results, it can be said that the studies are trying to measure the awareness and awareness of educators and prospective educators about sustainability and to reveal to what extent they can transfer this to future generations.

The term “BRICS” represents a group of five emerging economies of Brazil, Russia, India China and South Africa, which started in 2009. These economies have caught the attention of literally everyone--international financial law practitioners, political scientists, countries, international organizations and other stakeholders. The emergency of a unified geopolitical bloc, started to reframe international financial outlook with a new set of new ideas and values. include reforming the global financial and economic architecture, strengthening the principles and standards of international law in many sectors of their economies. The paper highlights prospects and challenges that lie ahead of BRICS countries to fully realize their mandate and to co-exist with the World bank and International Monetary Fund (IMF). The World Bank and IMF have supported economic development of countries since their inception, I however do not see any harm posed by the introduction of more capital from BRICS, it should be received with both hands. There are looming prospects for expansion of BRICS, countries like Argentina, UAE, Mexico, Algeria and Saudi Arabia have indicated their desire to jump on BRICS bandwagon, the current Russian-Ukraine war remains a big challenge, not least that it has threatened to suck in all BRICS members into this war. The paper finds that as global dynamic challenges continue to mutate, nothing should preclude countries from working together to find lasting solutions to their common challenges. Some BRICs Nations are also beleaguered with high levels of corruption in public offices, they will need to seriously address this challenge, if they are to offer a robust development agenda for emerging markets to supplant the Bretton Wood Institutions. This paper was written, guided by three specific objectives: (i) Examine the rationale for launching the BRICS development initiatives and potential conflict with the World Bank and IMF. (ii) Discuss the mandate of the World Bank and IMF in fostering economic development especially developing countries. (iii) Explore potential areas of conflict between the Bretton Wood Institutions and BRICS to co-exist in their varied development mandates towards member countries. The paper has established that while nothing precludes BRICS offering alternative funding mechanisms to their members, they will need time to fully realize their objectives. Establishment of the BRICS signifies that its high time the World Bank and International Monetary Fund (IMF) have adopted desired reforms, if they are to remain influential today.

Purpose - The purpose This study investigates the role of AI-enhanced human resources in environmental innovation strategy, green accounting, and sustainable development performance within the state-owned sharia banking sector. Method - Using a quantitative approach and Structural Equation Modeling (SEM) Partial Least Squares (PLS), the research involves a sample of 250 employees from various state-owned sharia banks in Central Java. Result - The results showed indicate that the implementation of AI in human resource management significantly contributes to environmental innovation strategy and green accounting, which in turn supports sustainable development performance. Additionally, green accounting is found to play a critical role in enhancing organizational sustainability performance. Implication - These findings offer valuable insights for strategic policies in the sharia banking sector, aiming to achieve sustainable development goals through the integration of intelligent technology and eco-friendly practices in organizational operations. Originality - This research provides the first insights that serve as a foundation for academics and policymakers to develop more comprehensive models for sustainable development in the sharia banking.

This study investigates the complex linkage between economic growth, institutional quality, urbanization, trade openness, and Somalia’s ecological footprint from 1990 to 2020. To ensure reliable results, we initially conducted an assessment of the order of integration of our variables through the use of the augmented Dickey-Fuller (ADF) and the Phillips-Perron (PP) stationarity tests, which indicated a mixed order of integration. Following this, we employed the autoregressive distributed lag (ARDL) technique, in combination with the fully modified ordinary least squares (FMOLS) and canonical cointegrating regression (CCR) methods, to investigate the long-term relationships and causal connections between these variables, further supported by the application of the Granger causality test. Our findings indicate that a 1% increase in GDP per capita increases the ecological footprint by 3.79%, while a 1% increase in GDP per capita squared decreases it by 0.05%. This supports the environmental Kuznets curve hypothesis, which means that at higher stages of economic development, the damage to the environment decreases. However, improvements in institutional quality have had minimal and statistically insignificant effects on the ecological footprint. While urbanization showed a considerable impact in the long run, its short-term effects were minimal. Interestingly, trade openness emerged as a positive factor, contributing to a reduction in the ecological footprint over time. To build a sustainable future, Somalia should balance economic growth with environmental protection by prioritizing green technologies, enhancing governance for enforcing environmental regulations, integrating sustainability into urban planning, and promoting trade in clean technologies to reduce its ecological footprint.Graphical abstract