Issue #3 (Volume 16 2025)

With the rise in environmental awareness, enterprises are increasingly adopting environmentally responsible practices. This study aims to examine the influence of environmental awareness on the actual environmental behavior of enterprises in Vietnam, using an extended theory of planned behavior (TPB) framework that includes willingness to pay as an additional construct. Data were collected from 206 enterprise leaders across Vietnam and analyzed using structural equation modeling (SEM). The results show that environmental awareness positively influences attitude, subjective norms, perceived behavioral control, and willingness to pay (β = 0.722, p < 0.001 for all). Attitude (β = 0.979, p < 0.001), subjective norms (β = 0.582, p < 0.001), and willingness to pay (β = 0.776, p < 0.001) significantly impact environmental behavior, while perceived behavioral control (β = 0.164, p > 0.05) has no significant effect. Among mediators, willingness to pay exhibits the strongest indirect effect on the relationship between environmental awareness and behavior. These findings highlight the importance of integrating financial and social mechanisms into environmental strategies, suggesting that policies enhancing awareness and access to green financing can effectively promote sustainable behavior among enterprises in emerging economies.

Acknowledgments
This work was supported by the Research funds of Foreign Trade University, Vietnam, under grant number: NTCS2021-65.

Type of the article: Research Article

Abstract
This study aims to examine the impact of technological innovation on the carbon emissions of the G20 economies while accounting for the moderating role of economic policy uncertainty. To analyze the relationship between emissions and technological innovation in the presence of economic vulnerabilities, the study used the annual data from 2000 to 2023. Panel and quantile regression are used to test the heterogeneous relationship. The results reveal that research and development expenditure (R&D) has a positive and statistically significant impact on emissions at certain quantiles, suggesting that innovation alone may not uniformly contribute to emission reductions. Economic policy uncertainty is documented to have a heterogeneous relationship with emissions, wherein it reduces emissions at lower quantiles, with a positive relationship exhibited at higher quantiles. Similar results are obtained when economic policy uncertainty and R&D interact and are able to reduce emissions at all levels, as shown by quantile regression. The results provide valuable implications for policymakers, emphasizing the importance of fostering innovation while managing policy uncertainty to achieve carbon mitigation goals across varying emission levels within the G20.

Type of the article: Research Article

Abstract
Mitigating the effects of climate change has emerged as a crucial global need, with carbon dioxide emissions serving as the principal driver of greenhouse gas accumulation. This paper analyzes the factors influencing CO₂ emissions in G20 countries from 2000 to 2021, emphasizing the effects of renewable energy consumption, trade openness, economic growth, and energy intensity. The study utilizes advanced dynamic panel econometric techniques, namely, the Augmented Mean Group (AMG) Estimator and the Common Correlated Effects Mean Group (CCEMG) Estimator, which address cross-sectional dependence and parameter heterogeneity among nations. The analysis indicates that the use of renewable energy noticeably decreases CO₂ emissions, with elasticity values between –0.15 and –0.16. The effect is especially significant in lower-income G20 countries and during the post-2005 era. Economic growth indicates a strong positive correlation with CO₂ emissions, characterized by elasticity values ranging from 0.83 to 0.89, whereas energy intensity also displays positive effects with coefficients between 0.69 and 0.82. Trade openness exhibits insignificant statistical effects in both models. The heterogeneity study reveals that the emission-reduction potential of renewable energy is significantly greater in emerging nations than in advanced economies, with coefficients of –0.25 and –0.08, respectively. The results highlight the essential role of renewable energy transitions and enhancements in energy efficiency for meeting climate goals, especially when aligned with specific policies for various income levels and timeframes within the G20 context.

Type of the article: Research Article

Abstract
Decentralization and renewable energy have gained significant global attention due to their potential to enhance energy security, promote sustainability, and democratize energy access. This study aims to provide a comprehensive bibliometric analysis of research trends, key contributors, and thematic developments in the field of the decentralization of energy sources and their renewability. The research methodology involves a bibliometric analysis based on data extracted from the Scopus database, covering publications from 1973 to 2025. The analysis reveals exponential growth in research output, particularly after 2014, with over 3,700 publications recorded in 2023 alone. Citation trends indicate that foundational studies on decentralized microgrids and distributed energy systems remain highly influential, while recent works on blockchain-based energy trading and AI-driven energy management are gaining prominence. The study identifies China (11.7% of total publications), the United States (6.5%), and India (5.7%) as the leading contributors, with significant research activity also observed in European countries. Additionally, journals such as Applied Energy, Renewable Energy, and Energies serve as the primary publication platforms in this domain. Thematic analysis highlights a shift from bioenergy and land-use studies toward smart grids, energy storage, artificial intelligence, and decentralized finance for energy markets. Furthermore, co-authorship and international collaboration have increased significantly, with 25% of papers involving multi-country research efforts. Keyword analysis indicates growing research interest in emerging topics such as hydrogen energy, demand-side management, and digitalization in decentralized energy systems. These findings underscore the increasing interdisciplinary nature of decentralized energy research, integrating technological, economic, and policy dimensions.

Acknowledgment
This study was prepared as part of the project IZURZ1_224119/1 (Swiss National Science Foundation).