GREEN GROWTH IN SCANDINAVIA: ASSESSING THE ROLE OF ENVIRONMENTAL TAXATION, GREEN INNOVATION, TRADE, AND URBANIZATION IN ADVANCING CLEAN ENERGY CONSUMPTION
DOI:
https://doi.org/10.2478/eoik-2025-0054Keywords:
Carbon taxes, Renewable transitions, Nordic Region, Urban Planning, Technology infrastructureAbstract
The research analyses the drivers of clean energy use (CEU) in Scan-
dinavian countries by assessing the influence of environmental taxa-
tion (ETR), green innovation (GRI), trade openness (TRD), economic
growth (ECG), and urbanization (URB). In exploring these relation-
ships, the research is mainly theorized within the Energy Transition
Theory and Environmental Kuznets Curve (EKC) hypothesis frame-
work while employing panel data from 1990 to 2023 and advanced
econometric tools. Results show that while GRI and ECG significant-
ly contribute to adopting clean energies, the URB process enhances
CEU through improved infrastructure and technology adoption. It
reveals that environmental taxation has an adverse short-term impact
by raising energy costs, while trade openness yields ambiguous re-
sults. The study confirms the theoretical frameworks and highlights
the interplay among socio-technical and economic dimensions as crit-
ical enablers and barriers for energy transitions. Thus, environmental
taxation should be complemented with subsidies, more significant in-
vestments in green innovation should be made, and economic growth
should be used to ensure clean energy infrastructure and clean energy
in urban planning. These findings provide actionable strategies to fast-
track clean energy transitions in Scandinavia and beyond, thus ensur-
ing economic growth and harmony with environmental sustainability.
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