This study examines the macroeconomic and environmental determinants of employment dynamics in Ghana, highlighting the nexus between energy-intensive manufacturing development, trade openness, capital formation, and carbon dioxide (CO2) emissions. Utilising annual time-series data from 1970 to 2023, the study applies the Autoregressive Distributed Lag (ARDL) bounds-testing procedure, error-correction modelling, and VAR-based Granger causality analysis to evaluate short- and long-run employment responses. The cointegration analysis confirms a robust long-run equilibrium relationship among employment, manufacturing value-added, trade openness, capital accumulation, and carbon emissions. The error-correction coefficient is negative and statistically significant, confirming that short-run disequilibrium adjusts toward long-run equilibrium, albeit slowly. The empirical results reveal that manufacturing value-added exerts a statistically significant negative effect on employment, indicating that Ghana’s industrial growth path, driven by carbon- and energy-intensive manufacturing, has lacked sufficient labour-absorbing capacity. Conversely, trade openness demonstrates a positive employment effect through short-run lagged dynamics and Granger causality, indicating that external sector integration yields employment benefits when domestic firms capitalise on expanded market access. Capital formation exhibits a weak and statistically insignificant effect on labour demand, suggesting that capital accumulation has not been adequately aligned with job creation. Furthermore, including CO2 emissions highlights the structural trade-off between environmental degradation and employment expansion. The study concludes that achieving employment-rich, sustainable transformation requires green manufacturing policies targeting labour-intensive, energy-efficient production; trade strategies that foster local value addition; and investment frameworks that align capital deepening with environmental sustainability and workforce employability.
The escalation of climate change and heightened environmental regulations have amplified the necessity for companies, especially those in carbon-heavy sectors, to enhance their environmental management and climate-related reporting. This study investigates the correlation between Carbon Emission Disclosure (CED), Environmental Costs (ENV-COST), and financial performance in energy-sector companies listed on the Johannesburg Stock Exchange (JSE). The study uses a quantitative methodology and uses secondary data sourced from business annual reports, integrated reports, and sustainability reports. The empirical investigation relies on 219 observations of energy-sector companies listed on the JSE. Financial performance is evaluated through Return on Assets (ROA), Carbon Emission Disclosure is gauged using a disclosure index, and Environmental Costs are quantified by reported environmental expenditures. Descriptive statistics and multiple regression analysis are utilized to investigate the correlations among the variables. The results indicate that Carbon Emission Disclosure is inversely and statistically significantly correlated with financial performance (β = −0.729; p < 0.002). Environmental costs exhibit a positive and statistically significant correlation with financial performance (β = 0.163; p < 0.002). The comprehensive regression model has statistical significance (F = 28.82; p < 0.001) and accounts for almost 37% of the variance in financial performance (R² = 0.37; adjusted R² = 0.36). The results indicate that disclosing carbon emissions could create immediate financial strains or expose environmental hazards, while environmental investments may yield operational, risk-management, and strategic advantages that enhance financial outcomes. The study enhances the field of environmental accounting by illustrating that environmental transparency and investment can yield disparate financial outcomes in a carbon-heavy developing market setting.
This study examines the energy sustainability of blockchain technologies in West Africa, focusing on cryptocurrencies validated through Proof of Work (PoW). Using an economic estimation method inspired by the Cambridge Bitcoin Electricity Consumption Index (CBECI, 2024), international models are adapted to the specific realities of the West African Economic and Monetary Union (UEMOA). Data sources include national electricity pricing (Senelec, 2025), macroeconomic statistics (ANSD, 2023), regional monetary aggregates (BCEAO, 2023), and blockchain activity reports (Chainalysis, 2023). The analysis models daily energy consumption of crypto‑mining in Dakar, Abidjan, and Lomé, and simulates adoption scenarios. Results show that converting only 5% of Senegal’s M1 money supply into PoW‑based cryptocurrency would require energy equivalent to 144% of national demand, underscoring unsustainability. In contrast, Proof of Stake (PoS) reduces consumption by 99.95%, aligning blockchain adoption with energy transition goals. The paper highlights the need for proactive regulation, incentives for local innovation, and adapted energy governance to reconcile financial inclusion, digital sovereignty, and environmental responsibility. It provides a contextualized analytical framework relevant to policymakers, investors, and researchers engaged in sustainable technology development.
Against the backdrop of shifting global energy balances, this study analyzes energy consumption within the BRICS+ countries, using a panel of eight countries that combines the founding members (Brazil, Russia, India, China, and South Africa) with three newly admitted members (Egypt, Iran, and Saudi Arabia). The objective is to quantify the impacts of financial development, economic growth, trade openness, and urbanization on energy demand. Covering the 1990–2021 period, the empirical analysis leverages data from the World Bank and the IMF. Following unit root and cointegration testing, the Pooled Mean Group (PMG-ARDL) model is employed to simultaneously estimate homogeneous long-run relationships and heterogeneous short-run dynamics. The analysis is further enriched by the Dumitrescu-Hurlin panel causality tests. The empirical findings reveal that, in the long run, financial development, economic growth, and trade openness significantly stimulate energy consumption, with economic growth emerging as the most influential driver. Conversely, urbanization exerts a positive but statistically insignificant effect. In the short run, only economic growth and financial development actively influence energy demand. These results underscore the critical importance of fostering green finance, achieving energy-growth decoupling, promoting sustainable trade policies, and implementing efficient urban planning to effectively reconcile economic expansion with energy sustainability.
The issue of small and medium-sized (SME) enterprises has been widely covered in both domestic and international literature. In Poland, sector accounts for 99.8% of the activities of all enterprises. Theoretical analysis and he research discussed in the article was carried out on a sample of network companies from the SME sector and enterprises located in smaller towns and villages in the Łódź Voivodeship (outside the Łódź agglomeration) in Poland, which not often feature in the literature on the subject, Studies also focused on the analysis of the economic performance of the Łódź Voivodeship, especially of the Tomaszów County during the COVID-19 crisis. The article has been based, among others, on: literature on the subject, reports of the Polish Agency for Enterprise Development (PARP), BVL reports, practical knowledge about logistics shared by logistics companies on their websites and own research, which was carried out in the form of surveys among enterprises in the SME sector in the Łódź Voivodeship, and selected statistics. The explored indicators concerning the quality of transport and logistics were at a good level. Although they slightly deteriorated during the COVID-19 pandemic, the decline remained within the range of 0–3%.
