Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
Skip to main content

Advertisement

Springer Nature Link
Log in

Integrated approach for sustainable development and investment goals: analyzing environmental issues in European economies

  • Original Research
  • Published:
Annals of Operations Research Aims and scope Submit manuscript

Abstract

Environmental issues play a crucial role in achieving sustainable development goals (SDGs). In this context, countries may not have the budget to improve all factors at the same time. Due to this situation, more significant items should be identified with the help of a comprehensive evaluation. However, there are limited studies in literature that focused on this issue so that there is a strong need for a new study regarding this subject. Accordingly, this study aims to determine the most significant environmental factors for the sustainable development and investment goals of European economies. A criteria list is generated by making a detailed literature evaluation and considering United Nations’ SDGs. They are weighted by using q-ROF DEMATEL approach. Later, 30 European countries are ranked by the q-ROF TOPSIS method. The main contribution of this study is that a novel model is suggested by considering a hybrid decision making approach based on q-ROFSs to make more objective evaluation. Additionally, the relevant environmental factors are prioritized so that effective strategies can be proposed to the countries for achieving their SDGs in a more efficient manner. The findings show that the use of renewable energy has the greatest effect on sustainable economic development and investment goals. In this process, Iceland, Norway, and Finland have been identified as the most successful European countries. Countries should assign a higher priority to renewable energy sources in terms of energy consumption. For this purpose, governments should provide some tax advantages to renewable energy investors. Similarly, low-cost financing resources should be offered for investments in renewable energy technologies. This situation will increase investments and contribute to achieving SDGs of the various countries.

This is a preview of subscription content, log in via an institution to check access.

Access this article

Log in via an institution

Subscribe and save

Springer+ Basic
$34.99 /Month
  • Get 10 units per month
  • Download Article/Chapter or eBook
  • 1 Unit = 1 Article or 1 Chapter
  • Cancel anytime
Subscribe now

Buy Now

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

Instant access to the full article PDF.

Institutional subscriptions

Fig. 1

Similar content being viewed by others

References

  • Ahmed, A., Ge, T., Peng, J., Yan, W. C., Tee, B. T., & You, S. (2022). Assessment of the renewable energy generation towards net-zero energy buildings: A review. Energy and Buildings, 256, 111755.

    Google Scholar 

  • Akram, M., Zahid, K., & Deveci, M. (2023). Multi-criteria group decision-making for optimal management of water supply with fuzzy ELECTRE-based outranking method. Applied Soft Computing, 110403.

  • Alaa, M., Albakri, I. S. M. A., Singh, C. K. S., Hammed, H., Zaidan, A. A., Zaidan, B. B., & Baqer, M. J. (2019). Assessment and ranking framework for the English skills of pre-service teachers based on fuzzy Delphi and TOPSIS methods. IEEE Access, 7, 126201–126223.

    Google Scholar 

  • Ali, B., Hedayati-Dezfooli, M., & Gamil, A. (2023a). Sustainability assessment of alternative energy power generation pathways through the development of impact indicators for water, land, GHG emissions, and cost. Renewable and Sustainable Energy Reviews, 171, 113030.

    Google Scholar 

  • Ali, S. I., Lalji, S. M., Hashmi, S., Awan, Z., Iqbal, A., & Al-Ammar, E. A. (2023). Risk quantification and ranking of oil fields and wells facing asphaltene deposition problem using fuzzy TOPSIS coupled with AHP. Ain Shams Engineering Journal, 102289.

  • Anser, M. K., Usman, M., Sharif, M., Bashir, S., Shabbir, M. S., Yahya Khan, G., & Lopez, L. B. (2021). The dynamic impact of renewable energy sources on environmental economic growth: evidence from selected Asian economies. Environmental Science and Pollution Research, 1–13.

  • Antunes, J., Gil-Alana, L. A., Riccardi, R., Tan, Y., & Wanke, P. (2021). Unveiling endogeneity and temporal dependence in energy prices and demand in Iberian countries: A stochastic hidden Markov model approach. Annals of Operations Research, 1–39.

  • Atanassov, K. (1986). Intuitionistic fuzzy sets. Fuzzy Sets and Systems, 20(1), 87–96.

    Google Scholar 

  • Ben Lahouel, B., Ben Zaied, Y., Yang, G. L., Bruna, M. G., & Song, Y. (2021). A non-parametric decomposition of the environmental performance-income relationship: Evidence from a non-linear model. Annals of Operations Research, 1–34.

  • Bide, T., Brown, T. J., Gunn, A. G., & Deady, E. (2022). Development of decision-making tools to create a harmonised UK national mineral resource inventory using the United Nations Framework Classification. Resources Policy, 76, 102558.

    Google Scholar 

  • Bouma, J. (2020). Contributing pedological expertise towards achieving the United Nations sustainable development goals. Geoderma, 375, 114508.

    Google Scholar 

  • Chai, J., Du, M., Liang, T., Sun, X. C., Yu, J., & Zhang, Z. G. (2019). Coal consumption in China: How to bend down the curve? Energy Economics, 80, 38–47.

    Google Scholar 

  • Chai, S., Chu, W., Zhang, Z., Li, Z., & Abedin, M. Z. (2022). Dynamic nonlinear connectedness between the green bonds, clean energy, and stock price: the impact of the COVID-19 pandemic. Annals of Operations Research, 1–28.

  • Chaigneau, T., Coulthard, S., Daw, T. M., Szaboova, L., Camfield, L., Chapin, F. S., & Brown, K. (2022). Reconciling well-being and resilience for sustainable development. Nature Sustainability, 5(4), 287–293.

    Google Scholar 

  • Chen, J., Xu, C., Wu, Y., Li, Z., & Song, M. (2021). Drivers and trajectories of China’s renewable energy consumption. Annals of Operations Research, 1–19.

  • Dağıstanlı, H. A. (2023). An integrated fuzzy MCDM and trend analysis approach for financial performance evaluation of energy companies in Borsa Istanbul sustainability index. Journal of Soft Computing and Decision Analytics, 1(1), 39–49.

  • Dalvi-Esfahani, M., Niknafs, A., Kuss, D. J., Nilashi, M., & Afrough, S. (2019). Social media addiction: Applying the DEMATEL approach. Telematics and Informatics, 43, 101250.

    Google Scholar 

  • Das, H. T., Maiyalagan, T., & Das, N. (2023). Developing potential aqueous Na-ion capacitors of Al2O3 with carbon composites as electrode material: Recycling medical waste to sustainable energy. Journal of Alloys and Compounds, 931, 167501.

    Google Scholar 

  • Dinçer, H., Yüksel, S., & Eti, S. (2023). Identifying the right policies for increasing the efficiency of the renewable energy transition with a novel fuzzy decision-making model. Journal of Soft Computing and Decision Analytics, 1(1), 50–62.

  • Dinçer, H., Yüksel, S., & Martínez, L. (2019). Interval type 2-based hybrid fuzzy evaluation of financial services in E7 economies with DEMATEL-ANP and MOORA methods. Applied Soft Computing, 79, 186–202.

    Google Scholar 

  • Ding, L., Dai, Q., He, C., Zhang, Z., & Shi, Y. (2022). How do individual characteristics, cognition, and environmental factors affect the beneficiaries’ satisfaction of photovoltaic poverty alleviation projects? Empirical evidence of 41 villages in rural China. Energy for Sustainable Development, 66, 271–286.

    Google Scholar 

  • Ding, T., Fang, L., Chen, J., Ji, J., & Fang, Z. (2023). Exploring the relationship between water-energy-food nexus sustainability and multiple ecosystem services at the urban agglomeration scale. Sustainable Production and Consumption, 35, 184–200.

    Google Scholar 

  • Ding, Z., Yüksel, S., & Dincer, H. (2021). An integrated pythagorean fuzzy soft computing approach to environmental management systems for sustainable energy pricing. Energy Reports, 7, 5575–5588.

    Google Scholar 

  • Doğan, B., Chu, L. K., Ghosh, S., Truong, H. H. D., & Balsalobre-Lorente, D. (2022). How environmental taxes and carbon emissions are related in the G7 economies? Renewable Energy, 187, 645–656.

    Google Scholar 

  • Du, L., Dinçer, H., Ersin, İ, & Yüksel, S. (2020). IT2 fuzzy-based multidimensional evaluation of coal energy for sustainable economic development. Energies, 13(10), 2453.

    Google Scholar 

  • Elavarasan, R. M., Pugazhendhi, R., Irfan, M., Mihet-Popa, L., Campana, P. E., & Khan, I. A. (2022). A novel sustainable development goal 7 composite index as the paradigm for energy sustainability assessment: A case study from Europe. Applied Energy, 307, 118173.

    Google Scholar 

  • Fahmi, A. (2023). Particle swarm optimization selection based on the TOPSIS technique. Soft Computing, 1–21.

  • Fakher, H. A., & Ahmed, Z. (2023). Does financial development moderate the link between technological innovation and environmental indicators? An advanced panel analysis. Financial Innovation, 9(1), 112.

  • Fan, W., & Xiao, F. (2019). A new conflict management in evidence theory based on DEMATEL Method. Journal of Sensors, 2019.

  • Gao, T., Zhang, M., & Zhao, C. (2023). An evaluation of the sustainability of the urban water resources of Yanbian Korean autonomous prefecture, China. Sustainability, 15(2), 1646.

    Google Scholar 

  • Garg, H. (2017). Generalized pythagorean fuzzy geometric aggregation operators using Einstein t-norm and t-conorm for multicriteria decision-making process. International Journal of Intelligent Systems, 32(6), 597–630.

    Google Scholar 

  • Garg, H., Ali, Z., & Mahmood, T. (2021). Algorithms for complex interval-valued q-rung orthopair fuzzy sets in decision making based on aggregation operators, AHP, and TOPSIS. Expert Systems, 38(1), e12609.

    Google Scholar 

  • Ginevičius, R., Dudzevičiūtė, G., Schieg, M., & Peleckis, K. (2019). The inter-linkages between financial and economic development in the European Union Countries. Economic Research-Ekonomska Istraživanja, 32(1), 3315–3332.

    Google Scholar 

  • Halkos, G., & Argyropoulou, G. (2022). Using environmental indicators in performance evaluation of sustainable development health goals. Ecological Economics, 192, 107263.

    Google Scholar 

  • Jianchao, H., Zhiwei, W., & Liu, P. (2022). Current practice and future projection for coal-to-SNG in China. Resources Policy, 102376.

  • Jun, Q., Dinçer, H., & Yüksel, S. (2020). Stochastic hybrid decision‐making based on interval type 2 fuzzy sets for measuring the innovation capacities of financial institutions. International Journal of Finance & Economics.

  • Kalali, E. N., Lotfian, S., Shabestari, M. E., Khayatzadeh, S., Zhao, C., & Nezhad, H. Y. (2023). A critical review of the current progress of plastic waste recycling technology in structural materials. Current Opinion in Green and Sustainable Chemistry, 100763.

  • Kanat, O., Yan, Z., Asghar, M. M., Ahmed, Z., Mahmood, H., Kirikkaleli, D., & Murshed, M. (2022). Do natural gas, oil, and coal consumption ameliorate environmental quality? Empirical evidence from Russia. Environmental Science and Pollution Research, 29(3), 4540–4556.

    Google Scholar 

  • Khan, H. U. R., Zaman, K., Yousaf, S. U., Shoukry, A. M., Gani, S., & Sharkawy, M. A. (2019). Socio-economic and environmental factors influenced pro-poor growth process: New development triangle. Environmental Science and Pollution Research, 26(28), 29157–29172.

    Google Scholar 

  • Le, T. H., Chang, Y., & Park, D. (2019). Economic development and environmental sustainability: Evidence from Asia. Empirical Economics, 57(4), 1129–1156.

    Google Scholar 

  • Li, C., & Shen, B. (2019). Accelerating renewable energy electrification and rural economic development with an innovative business model: A case study in China. Energy Policy, 127, 280–286.

    Google Scholar 

  • Li, Q., Cherian, J., Shabbir, M. S., Sial, M. S., Li, J., Mester, I., & Badulescu, A. (2021). Exploring the relationship between renewable energy sources and economic growth: The Case of SAARC Countries. Energies, 14(3), 520.

    Google Scholar 

  • Li, Y., Zhao, K., & Zhang, F. (2023). Identification of key influencing factors to Chinese coal power enterprises transition in the context of carbon neutrality: A modified fuzzy DEMATEL approach. Energy, 263, 125427.

    Google Scholar 

  • Liu, P., & Wang, P. (2018). Some q-rung orthopair fuzzy aggregation operators and their applications to multiple-attribute decision making. International Journal of Intelligent Systems, 33(2), 259–280.

    Google Scholar 

  • Martínez, L., Dinçer, H., & Yüksel, S. (2023). A hybrid decision making approach for new service development process of renewable energy investment. Applied Soft Computing, 133, 109897.

    Google Scholar 

  • Mehdiabadi, A., Tabatabeinasab, M., Spulbar, C., Karbassi Yazdi, A., & Birau, R. (2020). Are we ready for the challenge of Banks 4.0? Designing a roadmap for banking systems in Industry 4.0. International Journal of Financial Studies, 8(2), 32.

    Google Scholar 

  • Mehta, P., Raymond, J., Punjani, R., Larson, T., Han, M., Bove, F., & Horton, D. K. (2022). Incidence of amyotrophic lateral sclerosis in the United States, 2014–2016. Amyotrophic Lateral Sclerosis and Frontotemporal Degeneration, 1–5.

  • Meng, Y., Wu, H., Zhao, W., Chen, W., Dinçer, H., & Yüksel, S. (2021). A hybrid heterogeneous Pythagorean fuzzy group decision modelling for crowdfunding development process pathways of fintech-based clean energy investment projects. Financial Innovation, 7(1), 1–34.

    Google Scholar 

  • Mikhaylov, A., Dinçer, H., & Yüksel, S. (2023). Analysis of financial development and open innovation oriented fintech potential for emerging economies using an integrated decision-making approach of MF-X-DMA and golden cut bipolar q-ROFSs. Financial Innovation, 9(1), 1–34.

    Google Scholar 

  • Mohammed, A., Harris, I., & Govindan, K. (2019). A hybrid MCDM-FMOO approach for sustainable supplier selection and order allocation. International Journal of Production Economics, 217, 171–184.

    Google Scholar 

  • Mohsin, M., Kamran, H. W., Nawaz, M. A., Hussain, M. S., & Dahri, A. S. (2021). Assessing the impact of transition from nonrenewable to renewable energy consumption on economic growth-environmental nexus from developing Asian economies. Journal of Environmental Management, 284, 111999.

    Google Scholar 

  • Moiseev, N., Mikhaylov, A., Dinçer, H., & Yüksel, S. (2023). Market capitalization shock effects on open innovation models in e-commerce: Golden cut q-rung orthopair fuzzy multicriteria decision-making analysis. Financial Innovation, 9(1), 55.

    Google Scholar 

  • Mughal, N., Arif, A., Jain, V., Chupradit, S., Shabbir, M. S., Ramos-Meza, C. S., & Zhanbayev, R. (2022). The role of technological innovation in environmental pollution, energy consumption and sustainable economic growth: Evidence from South Asian economies. Energy Strategy Reviews, 39, 100745.

    Google Scholar 

  • Mukhtarov, S., Aliyev, F., Aliyev, J., & Ajayi, R. (2023). Renewable energy consumption and carbon emissions: Evidence from an oil-rich economy. Sustainability, 15(1), 134.

    Google Scholar 

  • Nalbandan, R. B., Delavar, M., Abbasi, H., & Zaghiyan, M. R. (2023). Model-based water footprint accounting framework to evaluate new water management policies. Journal of Cleaner Production, 382, 135220.

    Google Scholar 

  • Niyommaneerat, W., Suwanteep, K., & Chavalparit, O. (2023). Sustainability indicators to achieve a circular economy: A case study of renewable energy and plastic waste recycling corporate social responsibility (CSR) projects in Thailand. Journal of Cleaner Production, 391, 136203.

    Google Scholar 

  • Olabi, A. G., Obaideen, K., Elsaid, K., Wilberforce, T., Sayed, E. T., Maghrabie, H. M., & Abdelkareem, M. A. (2022). Assessment of the pre-combustion carbon capture contribution into sustainable development goals SDGs using novel indicators. Renewable and Sustainable Energy Reviews, 153, 111710.

    Google Scholar 

  • Qudrat-Ullah, H., & Nevo, C. M. (2021). The impact of renewable energy consumption and environmental sustainability on economic growth in Africa. Energy Reports, 7, 3877–3886.

    Google Scholar 

  • Rasool, S. F., Chin, T., Wang, M., Asghar, A., Khan, A., & Zhou, L. (2022). Exploring the role of organizational support, and critical success factors on renewable energy projects of Pakistan. Energy, 243, 122765.

    Google Scholar 

  • Rodríguez-Fernández, L., Carvajal, A. B. F., & de Tejada, V. F. (2022). Improving the concept of energy security in an energy transition environment: Application to the gas sector in the European Union. The Extractive Industries and Society, 101045.

  • Romano, G., Lombardi, G. V., Rapposelli, A., & Gastaldi, M. (2022). The factors affecting Italian provinces’ separate waste-collection rates: An empirical investigation. Waste Management, 139, 217–226.

    Google Scholar 

  • Sarfaraz, A. H., Yazdi, A. K., Hanne, T., Gizem, Ö., Khalili-Damghani, K., & Husseinagha, S. M. (2022). Analyzing the Investment Behavior in the Iranian Stock Exchange during the COVID-19 Pandemic Using Hybrid DEA and Data Mining Techniques. Mathematical Problems in Engineering, 2022.

  • Shokoohi, Z., Dehbidi, N. K., & Tarazkar, M. H. (2022). Energy intensity, economic growth and environmental quality in populous Middle East countries. Energy, 239, 122164.

    Google Scholar 

  • Silahtaroğlu, G., Dinçer, H., & Yüksel, S. (2021). Defining the significant factors of currency exchange rate risk by considering text mining and fuzzy AHP. In Data science and multiple criteria decision making approaches in finance: Applications and methods (pp. 145–168). Cham: Springer.

  • Song, W., Zhu, Y., & Zhao, Q. (2020). Analyzing barriers for adopting sustainable online consumption: A rough hierarchical DEMATEL method. Computers & Industrial Engineering, 140, 106279.

    Google Scholar 

  • Steve, Y. S., Murad, A. B., Gyamfi, B. A., Bekun, F. V., & Uzuner, G. (2021). Renewable energy consumption a panacea for sustainable economic growth: panel causality analysis for African blocs. International Journal of Green Energy, 1–10.

  • Sun, Y., Li, H., Andlib, Z., & Genie, M. G. (2022). How do renewable energy and urbanization cause carbon emissions? Evidence from advanced panel estimation techniques. Renewable Energy, 185, 996–1005.

    Google Scholar 

  • Sverko Grdic, Z., Krstinic Nizic, M., & Rudan, E. (2020). Circular economy concept in the context of economic development in EU countries. Sustainability, 12(7), 3060.

    Google Scholar 

  • Tang, H., Shi, Y., & Dong, P. (2019). Public blockchain evaluation using entropy and TOPSIS. Expert Systems with Applications, 117, 204–210.

    Google Scholar 

  • Tetteh, G. K. (2023). Local digital lending development and the incidence of deprivation in Kenya. Financial Innovation, 9(1), 102.

  • Usman, O., Alola, A. A., & Saint Akadiri, S. (2022). Effects of domestic material consumption, renewable energy, and financial development on environmental sustainability in the EU-28: Evidence from a GMM panel-VAR. Renewable Energy, 184, 239–251.

    Google Scholar 

  • Wang, Q., & Su, M. (2020). Drivers of decoupling economic growth from carbon emission: An empirical analysis of 192 countries using decoupling model and decomposition method. Environmental Impact Assessment Review, 81, 106356.

    Google Scholar 

  • Wang, S., Liu, Q., Yuksel, S., & Dincer, H. (2019). Hesitant linguistic term sets-based hybrid analysis for renewable energy investments. IEEE Access, 7, 114223–114235.

    Google Scholar 

  • Wanke, P., Azad, M. A. K., Yazdi, A. K., Birau, F. R., & Spulbar, C. M. (2022). Revisiting CAMELS rating system and the performance of ASEAN banks: A comprehensive MCDM/Z-numbers approach. IEEE Access, 10, 54098–54109.

    Google Scholar 

  • Wu, H., Li, Y., Hao, Y., Ren, S., & Zhang, P. (2020). Environmental decentralization, local government competition, and regional green development: Evidence from China. Science of the Total Environment, 708, 135085.

    Google Scholar 

  • Wu, L., Adebayo, T. S., Yue, X. G., & Umut, A. (2023). The role of renewable energy consumption and financial development in environmental sustainability: Implications for the Nordic Countries. International Journal of Sustainable Development & World Ecology, 30(1), 21–36.

    Google Scholar 

  • Wu, Y., Tam, V. W., Shuai, C., Shen, L., Zhang, Y., & Liao, S. (2019). Decoupling China’s economic growth from carbon emissions: Empirical studies from 30 Chinese provinces (2001–2015). Science of the Total Environment, 656, 576–588.

    Google Scholar 

  • Xie, Y., Zhou, Y., Peng, Y., Dinçer, H., Yüksel, S., & an Xiang, P. (2021). An extended pythagorean fuzzy approach to group decision-making with incomplete preferences for analyzing balanced scorecard-based renewable energy investments. IEEE Access, 9, 43020-43035.

  • Xu, X., Yüksel, S., & Dinçer, H. (2023). An integrated decision-making approach with golden cut and bipolar Q-ROFSs to renewable energy storage investments. International Journal of Fuzzy Systems, 25(1), 168–181.

    Google Scholar 

  • Xue, H., Lan, X., Zhang, Q., Liang, H., & He, Z. (2021). Assessment of the green development level for participating countries in the Belt and Road initiative. Annals of Operations Research, 1–21.

  • Yager, R. R. (2013, June). Pythagorean fuzzy subsets. In 2013 joint IFSA world congress and NAFIPS annual meeting (IFSA/NAFIPS) (pp. 57–61). IEEE.

  • Yager, R. R. (2016). Generalized orthopair fuzzy sets. IEEE Transactions on Fuzzy Systems, 25(5), 1222–1230.

    Google Scholar 

  • Yikun, Z., Gul, A., Saleem, S., Shabbir, M. S., Bilal, K., & Abbasi, H. M. (2021). The relationship between renewable energy sources and sustainable economic growth: Evidence from SAARC countries. Environmental Science and Pollution Research, 28(25), 33390–33399.

    Google Scholar 

  • Yüksel, S., & Dinçer, H. (2022). Identifying the strategic priorities of nuclear energy investments using hesitant 2-tuple interval-valued Pythagorean fuzzy DEMATEL. Progress in Nuclear Energy, 145, 104103.

    Google Scholar 

  • Yüksel, S., Dinçer, H., & Uluer, G. S. (2020). The role of technological development on renewable energy usage: An econometric analysis for G7 countries. In Handbook of research on sustainable supply chain management for the global economy (pp. 136–153). IGI Global.

  • Yüksel, S., Dinçer, H., Karakuş, H., & Ubay, G. G. (2020). The negative effects of carbon emission on FDI: A comparative analysis between E7 and G7 countries. In Handbook of research on sustainable supply chain management for the global economy (pp. 20–35). IGI Global.

  • Yüksel, S., Eti, S., Prosekov, S., & Uluer, G. S. (2021). A study on the energy problem in the eastern mediterranean: Text mining and AHP-based strategy recommendations. Strategic Approaches to Energy Management: Current Trends in Energy Economics and Green Investment, 27–38.

  • Zakari, A., Khan, I., Tan, D., Alvarado, R., & Dagar, V. (2022). Energy efficiency and sustainable development goals (SDGs). Energy, 239, 122365.

    Google Scholar 

  • Zeng, Y., Twang, F., & Carrasco, L. R. (2022). Threats to land and environmental defenders in nature’s last strongholds. Ambio, 51(1), 269–279.

    Google Scholar 

  • Zhang, C. Y., & Oki, T. (2023). Water pricing reform for sustainable water resources management in China’s agricultural sector. Agricultural Water Management, 275, 108045.

    Google Scholar 

  • Zhang, G., Zhou, S., Xia, X., Yüksel, S., Baş, H., & Dincer, H. (2020). Strategic mapping of youth unemployment with interval-valued intuitionistic hesitant fuzzy DEMATEL based on 2-tuple linguistic values. IEEE Access, 8, 25706–25721.

    Google Scholar 

  • Zhang, L., Shen, Q., Wang, M., Sun, N., Wei, W., Lei, Y., & Wang, Y. (2019). Driving factors and predictions of CO2 emission in China’s coal chemical industry. Journal of Cleaner Production, 210, 1131–1140.

    Google Scholar 

  • Zhao, Q., Tsai, P. H., & Wang, J. L. (2019). Improving financial service innovation strategies for enhancing china’s banking industry competitive advantage during the fintech revolution: A Hybrid MCDM model. Sustainability, 11(5), 1419.

    Google Scholar 

  • Zhong, J., Hu, X., Yüksel, S., Dinçer, H., & Ubay, G. G. (2020). Analyzing the investments strategies for renewable energies based on multi-criteria decision model. IEEE Access, 8, 118818–118840.

    Google Scholar 

Download references

Acknowledgements

Funding was provided by National Natural Science Foundation of China (#71725001 and #71910107002), R & D Program of China (#2020YFC0832702), Major project of the National Social Science Foundation of China (19ZDA092).

Author information

Authors and Affiliations

  1. School of Business Administration, Faculty of Business Administration, Southwestern University of Finance and Economics, Chengdu, 611130, China

    Gang Kou

  2. The School of Business, Istanbul Medipol University, Istanbul, Turkey

    Serhat Yüksel & Hasan Dinçer

  3. Adnan Kassar School of Business, Lebanese American University, Beirut, Lebanon

    Serhat Yüksel

  4. University of Religions and Denominations, Qom, Iran

    Hasan Dinçer

  5. Clinic of Economics, Azerbaijan State University of Economics (UNEC), Istiqlaliyyat Str. 6, Baku, AZ1141, Azerbaijan

    Serhat Yüksel & Hasan Dinçer

  6. Mining engineering department, King Abdulaziz University, Jeddah, Saudi Arabia

    Mohammed A.Hefni

Authors
  1. Gang Kou
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. Serhat Yüksel
    View author publications

    You can also search for this author in PubMed Google Scholar

  3. Hasan Dinçer
    View author publications

    You can also search for this author in PubMed Google Scholar

  4. Mohammed A.Hefni
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Hasan Dinçer.

Additional information

Publisher's Note

Springer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.

Appendix

Appendix

1.1 Appendix A: Pseudocode of proposed model

figure a

See Tables

Table 7 Linguistic evaluations of expert team for the factors
Full size table

7,

Table 8 Membership and non-membership degrees for the factors
Full size table

8,

Table 9 Score function values of q-rung orthopair fuzzy sets for factors
Full size table

9,

Table 10 Direct relation matrix
Full size table

10,

Table 11 Normalized values of direct relation matrix
Full size table

11,

Table 12 Total relation matrix
Full size table

12,

Table 13 Dataset for environmental factors of European economies
Full size table

13,

Table 14 Linguistic evaluations of expert team for the environmental factors of European Economies
Full size table

14,

Table 15 Membership and non-membership degrees for the environmental factors of the European Economies
Full size table

15,

Table 16 Score function values of q-rung orthopair fuzzy sets for alternatives
Full size table

16,

Table 17 Normalized decision matrix
Full size table

17, and

Table 18 Weighted decision matrix
Full size table

18.

Rights and permissions

Springer Nature or its licensor (e.g. a society or other partner) holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law.

Reprints and permissions

About this article

Check for updates. Verify currency and authenticity via CrossMark

Cite this article

Kou, G., Yüksel, S., Dinçer, H. et al. Integrated approach for sustainable development and investment goals: analyzing environmental issues in European economies. Ann Oper Res 342, 429–475 (2024). https://doi.org/10.1007/s10479-023-05679-7

Download citation

  • Received:

  • Accepted:

  • Published:

  • Issue Date:

  • DOI: https://doi.org/10.1007/s10479-023-05679-7

Keywords

Search

Navigation