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on Environmental Economics |
| By: | Romain Fillon (CIRED - Centre International de Recherche sur l'Environnement et le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique, UMR PSAE - Paris-Saclay Applied Economics - AgroParisTech - Université Paris-Saclay - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Céline Guivarch (CIRED - Centre International de Recherche sur l'Environnement et le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique); Nicolas Taconet (CIRED - Centre International de Recherche sur l'Environnement et le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique, TU - Technical University of Berlin / Technische Universität Berlin, PIK - Potsdam Institute for Climate Impact Research) |
| Abstract: | We investigate the implications of absolute risk aversion with respect to intertemporal utility, i.e. temporal risk aversion, in the presence of a stylized climate tipping risk affecting productivity irreversibly. Optimal climate policy is more stringent under temporal risk aversion, in order to reduce all present and future probabilities of crossing the tipping point and avoid a situation where all generations are badly off. Temporal risk aversion implies a 30% increase in the social cost of carbon (SCC) under our benchmark calibration and for a 10% irreversible increase in the level of economic damage from climate change. The optimal SCC under temporal risk aversion increases sharply with the level of damage brought by a potential tipping point. |
| Keywords: | Stochastic climate-economy modeling, Risk-sensitive recursive preferences, Environmental policy, Risk aversion, Environmental Economics, Climate change |
| Date: | 2023–09 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04250702&r=env |
| By: | Hunter Kuhlwein; Sven Bienert; Yannick Schmidt |
| Abstract: | Recent studies have shown an increase of Embodied Carbon of buildings while operational emissions were reduced in many countries. Since renovations are crucial to tackle climate crisis, this paper aims to investigate to what extent embodied carbon of energetic retrofits is beneficial from an ecological perspective. In particular, this paper researches the question of how long the carbon payback period is for the asset classes and on which ones the focus should initially be in the upcoming modernisations. Starting off with a literature review on embodied carbon in building materials and construction, a set of case studies is then analyzed in terms of avoided emissions and embodied carbon emissions that come along with the retrofit. Typical renovation packages and scopes are compared with each other by calculating the environmental impact as well as their economical payback period. Subsequently, the energy consumption before and after retrofit is considered and the extension of the life cycle by the measure is evaluated. As a result, benchmarks will be established for different energetic retrofit measures in different regions. This paper helps to prioritize retrofit measures from an ecological point of view and at the same time is to the best of the authors' knowledge a first-time framework for the comparison between emission savings and initial carbon emitted during the retrofit. |
| Keywords: | Carbon Budget; Climate Policy; Embodied Carbon; Life cycle assessment |
| JEL: | R3 |
| Date: | 2023–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2023_192&r=env |
| By: | Syeda Marjia Hossain; Jorn Van De Wetering; Steven Devaney |
| Abstract: | Issues related to sustainability and climate change have widely generated the interest of both academics and practitioners. The negative impacts of climate change are now substantiated through scientific evidence. The built environment is one of the major carbon emitters in any economy that could have a clear impact towards the battle against climate change. Though much research has been initiated to reduce carbon emissions from the built environment or to make it more sustainable, it is not well known to what extent commercial property valuers are incorporating sustainability and climate change issues while valuing properties. Valuation advice produced by professional valuers are used by investors, occupiers and lender and therefore, if these advice lack in terms of sustainability, it could have far reached impacts within the built environment. Though some research has been initiated in Australia, in the UK research is scarce on valuers’ perception of sustainability. To understand that research was undertaken at the University of Reading as part of a PhD thesis using a mixed methods approach that included a Survey and 32 Interviews of valuers, investors, owner occupiers and lenders. Among other things, this research found some challenges faced by valuers in the UK that are working as barriers to incorporate sustainability in the valuation methodology. These include valuers’ reliance on third party for data such as EPC upgrade cost and environmental assessments, lack of data related to sustainability of the subject property as well as comparable property, lack of evidence for sustainability premiums or discounts, issues related to time constrains, fees, costs and client’s pressure, lack of education and training of valuers on sustainability and climate change issues as well as the use of traditional methodology to value properties. Addressing and working on these challenges are paramount to move forward for a more sustainable future. |
| Keywords: | barriers/challenges; Climate Change; sustainability; valuer and valuation practice |
| JEL: | R3 |
| Date: | 2023–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2023_82&r=env |
| By: | Gülnaz engül Güne; Kürat Yalçner; Harun Tanrivermis |
| Abstract: | The real estate sector is a rapidly growing sector considered the locomotive of economic development. However, besides rapid growth, unplanned urbanization has led to significant problems such as environmental pollution, degradation of natural vegetation and soil resources, reduction of water resources and drinking water, destruction of biodiversity and damage to the ozone layer, global warming, and climate change, as well as intensive waste problems. The building industry causes issues ranging from excessive consumption of natural resources to environmental pollution in building construction and use. For real estate markets to be characterized as sustainable, it is essential to leave livable areas for future generations and, at the same time to develop several economic, financial, and legal policies. The idea of sustainability is on the agenda of many organizations, such as the United Nations and the European Union Commission. The United Nations has listed 17 items within the scope of the 2030 Sustainable Development Goals: “sustainable cities and society”. Sustainability of societies and cities and leaving a livable world to future generations are the goals of developed countries. Therefore, supporting many environmental, legal, and political factors and providing economic development is necessary. While it is so crucial for the real estate sector to be sustainable, the concept of sustainability appears as an abstract concept. For this reason, studies to measure sustainability are extremely important. Within the scope of the research, a literature review was conducted on the measurement of sustainability in real estate markets. The review was taken advantage of Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guideline. Using keywords that may be related to the real estate sector, 113 studies in the Web of Science database and 152 studies in the Scopus database were analyzed in detail. The studies were evaluated by combining them with content analysis. According to the results of the research, it is seen that sustainability in real estate markets is mostly investigated at the environmental level. |
| Keywords: | Real Estate Index; Real Estate Market; sustainability; Sustainable Real Estates |
| JEL: | R3 |
| Date: | 2023–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2023_228&r=env |
| By: | Odersky, Moritz (University College Maastricht); Löffler, Max (Maastricht University) |
| Abstract: | We analyze the exposure of different income groups to the 2021 floods in Germany, which serve as an exemplary case of natural disasters intensified by anthropogenic climate change. To this end, we link official geo-coded satellite data on flood-affected buildings to neighborhood-level information on socio-economic status. We then document the empirical relationship between flood damages and household income. We limit comparisons to the vicinity of affected rivers and absorb a rich set of regional fixed effects to assess the differential exposure at the local level. Average household income is around 1, 500 euros or three percent lower in flood-affected neighborhoods than in non-affected neighborhoods nearby. Our study is the first to document this regressive exposure along the income distribution based on actual flood damage data in Europe. |
| Keywords: | climate change, differential exposure, floods, income distribution |
| JEL: | Q52 Q54 D30 |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16540&r=env |
| By: | Ro, Jin Wook PhD; Murphy, Colin W. PhD; Wang, Qian PhD |
| Abstract: | The Low Carbon Fuel Standard (LCFS) plays a critical role in California’s efforts to reduce greenhouse gas (GHG) and air pollutant emissions from transportation. The LCFS incentivizes the use of fuels with lower life cycle GHG emissions by using a credit market mechanism to provide incentives for low-carbon fuels, using revenue generated by charges applied to high-carbon ones. Maintaining an approximate balance between LCFS credit and deficit supplies helps support a stable LCFS credit price and the broader transition to low-carbon transportation. The Fuel Portfolio Scenario Model, presented here, evaluates bottom-up fuel supply and LCFS compliance to inform LCFS policy decisions. We considered two key fuel demand scenarios: (1) the Low Carbon Transportation scenario, reflecting the expected transition to low-carbon transportation in California over the next 15 years, and (2) the Driving to Zero scenario, featuring a significantly higher consumption of petroleum gasoline. In both scenarios, 2030 LCFS targets around 30% resulted in a near-balance between credits and deficits, with some banked credits remaining. Several additional scenarios were modeled to explore the impact of target trajectory timing, alternate post-2030 targets, greater biofuel use, and other parameters. This fuel portfolio scenario modeling work can meaningfully inform policy development. |
| Keywords: | Social and Behavioral Sciences, alternate fuels, greenhouse gases, incentives, fuel consumption, emissions trading, standards, policy analysis, forecasting, Low Carbon Fuel Standard |
| Date: | 2023–11–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt6f2284rg&r=env |
| By: | Blaber, Richard Michael |
| Abstract: | This paper will argue that the global capitalist economy was founded, and depends, on the consumption of fossil fuels, and the increase in supply of renewable energy in the next three decades will not alter that fact significantly, given both economic and demographic growth and Jevons’ Paradox. The resulting increase in fossil fuel consumption in that time, along with that increased economic activity and human population, which is already unsustainable, will lead to increased greenhouse gas (GHG) emissions, further anthropogenic climate change, and loss of biodiversity. The so-called ‘Doomsday Argument’ predicts that the deleterious impacts of these effects will be so severe as to result in the extinction of our entire species. |
| Date: | 2023–10–28 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:cs3bq&r=env |
| By: | Fatih Yilmaz; Fahad A. Alswaina; Fateh Belaid; Mohamad Hejazi; Mari Luomi (King Abdullah Petroleum Studies and Research Center) |
| Abstract: | This study aims to assess the alignment of global sustainable financial flows with transition investment priorities. First, we identify investment gaps based on the difference between the required annual investment to meet global net-zero emissions (NZE) targets and current investment flows. Our assessment reveals that nearly all countries must significantly accelerate their efforts, as their current investment levels fall short of what is required. Second, and perhaps more importantly, investment gaps are particularly large for non-Annex I (developing) countries. Financing these large-scale investments continues to be a major global challenge. The size of global environmental, social and governance (ESG) finance remains low. Specifically, despite their large investment gaps, developing countries receive only a minor share of global ESG funds, where access to conventional finance is already limited. |
| Keywords: | Carbon, Carbon capture and storage, Carbon neutrality |
| Date: | 2023–10–09 |
| URL: | http://d.repec.org/n?u=RePEc:prc:dpaper:ks--2023-dp19&r=env |
| By: | Walid Matar; Noura Mansouri; Evar Umeozor (King Abdullah Petroleum Studies and Research Center) |
| Abstract: | Saudi Arabia has announced plans to cut greenhouse gas (GHG) emissions by 278 million tons of CO2 equivalent (CO2e). In this regard, this paper contributes a modeling view of the climate-related effects of various energy policies on the Saudi energy system. The baseline entails the continued progression of current domestic policies without energy price reform. We examine two main alternative scenarios: The announced policies scenario (APS) incorporates some of the plans that the Saudi government has announced. In the other scenario, we run the baseline scenario with a cap on total CO2 emissions equal to those displayed in the announced policies. |
| Keywords: | Applied General model, Bottom up model, Discount rate, Discounting |
| Date: | 2023–10–30 |
| URL: | http://d.repec.org/n?u=RePEc:prc:dpaper:ks--2023-dp26&r=env |
| By: | Nshakira-Rukundo, Emmanuel; Tabe-Ojong, Martin Paul Jr.; Gebrekidan, Bisrat Haile; Agaba, Monica; Surendran-Padmaja, Subash; Dhebibi, Boubaker |
| Abstract: | Climate change and conflicts co-exist in many countries with significant welfare and socio-environmental implications. Different approaches are being promoted to adapt and build resilience to these fragilities including the adoption of sustainable farm practices that have the potential to increase agricultural productivity and maintain environmental sustainability. We undertake a systematic review and perform a meta-analysis to understand and synthesize the adoption and impacts of agricultural technologies and natural resource management practices with a special attention to fragile and conflict affected settings. We employ state of the art machine learning methods to enable process and selection of appropriate papers from a universe of over 78, 000 papers from leading academic databases. We find that studies on adoption and impact of agricultural technologies and natural resource management practices are highly clustered around Ethiopia and Nigeria. We do not find any studies on Small Island States. We observe a wide array of characteristics that influence adoption of these technologies. Of the over 1400 estimates of determinants collected, majority predict input technologies while very few studies and estimates are found in relation to risk management and mechanisation technologies. Our meta-analysis shows an average effect size of 7 - 9% for the different technologies and practices. For the outcomes: land productivity, food security and household welfare, we obtain effect sizes of 6, 8 and 9% respectively. We do not observe much in terms of publication bias. Both climate and conflict vulnerability not only cause far more food insecurity, poverty, and degradation of the environment on their own but also reinforce each other through the climate change – conflict linkage. For these detrimental effects to be curtailed, utilisation of climate-smart agricultural technologies and natural resource management practices need to be encouraged. We thus lend credence to the development, dissemination and upscaling of these sustainable practices. We observe a lot of space for growth and adoption of these technologies. |
| Keywords: | technology adoption; natural resources management; fragility; conflicts; climate change; impact resilience; agricultural technology; mechanization; food security; poverty |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:ifprid:2199&r=env |
| By: | Richard KOENIG; Marielle BRUNETTE |
| Abstract: | Weather-related events represent a main threat for French farmers, and their frequency and intensity are expected to increase due to climate change. In this context, we analyse the link between climate change perception, expected impact of climate change, and potential adaptation strategies that can be implemented to face climate change. For that purpose, we analysed the results of a survey conducted in 2021 on 288 French farmers. On the basis of these data, we created two indexes: a climate change perception index and an index of concern towards the expected impact of climate change. We first present some interesting correlations between adaptation strategies and hazards. We then identify some determinants of climate change perception and the expected impacts of climate change. Finally, we highlight two adaptation paths favoured by farmers. Depending on the characteristics of their farms and their perception of exposure today, some will favour farming adaptation, while others will favour the diversification of their income. We then discuss these results in terms of the existing crop insurance scheme in France. |
| Keywords: | Climate change, Perception, Crop insurance, Adaptation, France. |
| JEL: | G22 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:ulp:sbbeta:2023-36&r=env |
| By: | Raghu Dharmapuri Tirumala |
| Abstract: | Historically, sustainability in real estate has centered on green buildings and environmentally friendly structures. However, these efforts have often been confined to individual buildings, overlooking the broader ecosystem. This research paper expands the focus, investigating how various stakeholders in the real estate sector, including developers, financiers, suppliers, and advisors, are addressing environmental challenges. Utilizing the Global Reporting Initiative (GRI) as a framework, the paper analyzes publicly available company disclosures. The results highlight a strong emphasis on emission and energy-related indicators, while other vital aspects such as biodiversity, supplier assessment, and materials are often neglected. The paper also explores regional variations and alignment with global standards, providing insights into the current state of sustainability reporting within the industry. By identifying areas for improvement and underscoring the importance of a multi-stakeholder approach, this study contributes valuable perspectives to the ongoing dialogue on environmental stewardship in real estate and offers actionable recommendations for enhancing transparency and sustainability practices. |
| Keywords: | Australia; Environmental disclosure; India; real estate; Stakeholders; Transparency |
| JEL: | R3 |
| Date: | 2023–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:afr:wpaper:afres2023-047&r=env |
| By: | Kang , Jong Woo (Asian Development Bank); Gapay, Joshua Anthony (Asian Development Bank) |
| Abstract: | Trade encourages economic expansion and improves welfare based on international division of labor. However, trade also has an environmental footprint, particularly in the form of carbon dioxide (CO2) and other emissions. This paper examines the impact of environmental regulation in exporter and importer economies on cross-border carbon flows. It uses pooled estimation, random effects, fixed effects, fixed effects with instrumental variables, and Poisson pseudo maximum likelihood models to estimate the effect of more stringent environmental regulation, while controlling for scale, technique, and composition effects associated with CO2 emissions. While stricter environmental regulations help reduce CO2 emissions from domestic production, leading to lower CO2 emissions embodied in exports, stricter regulations on the importing side lead to higher CO2 emissions embodied in imports. More importantly, stricter environmental regulations could encourage further outsourcing of intermediate inputs by exporters, prompting carbon leakages in the upstream segment of global value chains |
| Keywords: | CO2 emissions; carbon leakage; trade; global value chain |
| JEL: | F10 F14 F18 |
| Date: | 2023–10–30 |
| URL: | http://d.repec.org/n?u=RePEc:ris:adbewp:0700&r=env |
| By: | Laetitia Tuffery; Soukaina Anougmar; Basak Bayramoglu; Carmen Cantuarias; Maia David |
| Abstract: | Cities concentrate almost 60% of the world's population. Worldwide, urban populations are highly vulnerable to climate change. Urban green spaces and related ecosystem services help increase inhabitants’ quality of life and well-being and mitigate the impacts of climate change. However, in terms of urban planning, green spaces can raise a dilemma by reducing the space available for vehicle traffic and parking. In this paper, we focus on green spaces around the tram network in the Lyon metropolitan area, France, to assess the social demand for the greening of the urban transport infrastructure, using a Discrete Choice Experiment (DCE). The survey was conducted in 2022 with 500 inhabitants. Our results show that respondents are in favor of urban greening due to its capacity to reduce air temperature and increase biodiversity. However, they are, on average, against a high reduction of the available space for traffic and parking, because of urban greening development. Outcomes also demonstrate a high heterogeneity in inhabitants’ preferences partly driven by their sensitivity and commitment to the environment. |
| Keywords: | Choice experiment; Transport infrastructure; urban greening; Urban traffic |
| JEL: | R3 |
| Date: | 2023–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2023_67&r=env |
| By: | Leisner, Jonathan (University of Copenhagen); Munch, Jakob R. (University of Copenhagen); Nielsen, August Twile (University of Copenhagen); Schaur, Georg (University of Tennessee) |
| Abstract: | We use Danish firm-level data to examine the causal link between carbon emissions, offshoring, and import competition. Offshoring reduces firms' emission intensity but increases their production. Import competition reduces firms' production without affecting their emission intensity. For Denmark, these effects imply that observed offshoring trends reduced the overall manufacturing emission intensity while import competition did not. However, despite the emission reducing effects in local manufacturing, offshoring did not affect global emissions. Furthermore, import competition substantially increased global emissions. Therefore, based on offshoring and Chinese import competition, our results suggest that international trade may be bad for the global environment. |
| Keywords: | carbon emissions, offshoring, import competition |
| JEL: | F14 F18 Q54 Q56 |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16556&r=env |
| By: | Leonelli, Giulia Claudia |
| Abstract: | with its narrow focus on price-based policies and 'explicit' carbon prices, the EU carbon border adjustment mechanism (CBAM) aims to prevent carbon leakage by ensuring that imported products 'bear' the same exact economic costs 'borne' by EU products. The proposed US border carbon adjustment (BCA) and the recent proposal for a global steel and aluminium arrangement (GSAA), by contrast, reflect a broader focus on environmental equivalence and recourse to punitive or quasi-punitive remedies. All recently proposed carbon border measures suffer from specific limitations. Further, albeit to a different extent, they are all associated with problematic aspects in terms of WTO law compatibility. This research note enquires whether the GSAA could be fine-tuned at the regulatory design stage in such a way as to provide an environmentally effective and WTO law compatible way forward. The analysis illustrates that recourse to an installation-based approach, emission limit values and product standards would achieve these goals. Nonetheless, the implementation of this ambitious strategy would be fraught with political obstacles. |
| Keywords: | 'Global Steel and Aluminium Arrangement'; 'Green Steel Deal'; carbon border measures; CBAM; climate clubs; GATT 1994 |
| JEL: | J1 |
| Date: | 2022–06–24 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:120320&r=env |
| By: | Schroeder, Christofer; Stracca, Livio |
| Abstract: | This paper studies the impact of national carbon taxes on CO2 emissions. To do so, we run local projections on a cross-country panel dataset, matching measures of emissions of carbon dioxide with information on the introduction of carbon taxes and their implied price. Importantly, we consider both measures of territorial emissions — emissions emitted within a country’s borders — and consumption emissions — emissions emitted anywhere in the world to satisfy domestic demand. We find that carbon taxes reduce territorial emissions over time, but have no significant effect on consumption emissions. Our estimates are robust to propensity-score weighting adjustments and are driven by countries which are more open to trade. Carbon taxes also lead to a modest increase in imports, suggesting that international trade may imply a negative carbon externality. Together, our findings highlight the limitations of national carbon taxes in isolation and the importance of international cooperation in reducing global emissions. JEL Classification: F18, F64, H23, Q58 |
| Keywords: | carbon leakage, carbon taxes, emissions |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:ecb:ecbwps:20232862&r=env |
| By: | Coppens, Léo; Venmans, Frank |
| Abstract: | Two approaches are predominant in climate models: cost-benefit and cost-effectiveness analysis. On the one hand, cost-benefit analysis maximises welfare, finding a trade-off between climate damages and emission abatement costs. On the other hand, cost-effectiveness analysis minimises abatement costs, omits damages but adds a climate constraint, such as a radiative forcing constraint, a temperature constraint or a cumulative emissions constraint. These constraints can be applied from today onwards or only from 2100 onwards, allowing to overshoot the target before 2100. We analyse the impacts of these different constraints on optimal carbon prices, emissions and welfare. To do so, we fit a model with abatement costs, capital repurposing costs (stranded assets) and technological change on IPCC and NGFS scenarios. The welfare-maximizing scenario reaching 1.5°C in 2100 has almost no net negative emissions at the end of the century (-2GtCO2/y). A constraint on cumulative emissions has the best welfare properties, followed by a temperature constraint with overshoot. A forcing constraint with overshoot has insufficient early abatement, leading to a substantial welfare loss of $29 Trillion, spread out over the century. As to the paths reaching 2°C, all cost-effectiveness analysis abate too late, but the welfare impact of this dynamic inefficiency is milder. Again, a forcing constraint with overshoot scores worst. |
| Keywords: | climate change mitigation; targets formulation; integrated assessment models; optimal abatement path; cost-benefit; cost-effectiveness; welfare; negative emissions |
| JEL: | Q52 |
| Date: | 2023–10–26 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:120567&r=env |
| By: | Ozili, Peterson K |
| Abstract: | Given the growing interest in financial inclusion, the possibility of integrating financial inclusion into the sustainability and sustainable development agenda needs to be explored. The purpose of this conceptual paper is to establish a link between financial inclusion, sustainability and sustainable development. The paper used discourse analysis to establish a link between financial inclusion, sustainability and sustainable development. It was argued that financial inclusion contributes to sustainable development by ensuring that access to basic financial services is guaranteed in a sustainable way, and basic financial services are provided in a sustainable way and based on sustainability principles to yield lasting impact for sustainable development. This approach links financial inclusion to sustainable development through the adoption of sustainability principles in offering basic financial services to banked adults. The paper also argued that financial inclusion is more relevant for the economic dimension and social dimension of sustainable development because financial inclusion improves the economic conditions and social welfare of banked adults while it only provides limited benefits for the environmental dimension of sustainable development. There is a need for a merger between financial inclusion and sustainable development based on sustainability principles. This will require polices that integrate financial inclusion to the sustainable development agenda. |
| Keywords: | sustainable development, financial inclusion, sustainability, financial institutions, unbanked adults, access to finance, poverty reduction, economic dimension, social dimension, sustainable development goals, United Nations. |
| JEL: | G21 Q01 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:118880&r=env |
| By: | Manh Hung Do; Trung Thanh Nguyen |
| Abstract: | Water is critical for agriculture in developing countries and climate change has created extreme weather events that push farmers into poverty. In this study, we first examine the role of year-round irrigation at village level in ensuring irrigation at household level and helping farmers to cope with weather shocks. We then investigate the effects of irrigation on crop farming efficiency, income, and poverty of rural households. We use a panel dataset of 1, 681 households in Thailand and 1, 699 households in Vietnam collected in 2010, 2013, and 2016 with a total number of 10, 140 observations. Our results show that the availability of year-round irrigation at village level positively and significantly increases the share of irrigated land areas at household level. Besides, weather shocks significantly decrease crop farming efficiency and an improvement in irrigation has a positive effect on farming efficiency. Further, an increase in irrigated land share at household level increases crop income and total household income, and decreases poverty. Our results suggest that making irrigation water available throughout the year is needed for farmers to cope with extreme weather events and to escape from poverty. This should be done by developing infrastructure for ensuring year-round irrigation. |
| Keywords: | Thailand, Vietnam, Irrigation, Multidimensional poverty, Instrumental variable |
| JEL: | Q57 Q12 R20 |
| Date: | 2023–07 |
| URL: | http://d.repec.org/n?u=RePEc:tvs:wpaper:wp-034&r=env |
| By: | Ms. Era Dabla-Norris; Salma Khalid; Giacomo Magistretti; Alexandre Sollaci |
| Abstract: | Building public support for climate mitigation is a key prerequisite to making meaningful strides toward decarbonization and achieving net-zero emissions. Using nationally representative, individual-level surveys for 28 countries, this paper identifies the current levels and drivers of support for climate mitigation policies. Controlling for individual characteristics, we find that pre-existing beliefs about policy efficacy, perceived costs and co-benefits (e.g., cleaner air), and the degree of policy progressivity are important drivers of support for carbon pricing policies. The knowledge gap about climate mitigation policies can be large, but randomized information experiments show that support increases (decreases) after individuals are introduced to new information on the benefits (potential costs) of such policies. |
| Keywords: | Climate mitigation policies; survey; experiments |
| Date: | 2023–10–27 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:2023/223&r=env |
| By: | Baptiste Parent (AgroParisTech, Université Paris-Saclay, CIRED - Centre International de Recherche sur l'Environnement et le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique); Lauriane Mouysset (CIRED - Centre International de Recherche sur l'Environnement et le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique, CNRS - Centre National de la Recherche Scientifique); Antoine Missemer (CNRS - Centre National de la Recherche Scientifique, CIRED - Centre International de Recherche sur l'Environnement et le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique); Harold Levrel (AgroParisTech, CIRED - Centre International de Recherche sur l'Environnement et le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique, Université Paris-Saclay) |
| Abstract: | Environmental and natural resource economics lies inherently at the interface between economic and natural dynamics (e.g., geological constraints, climate change, biodiversity evolution). Building models in that field often means building integrated models, calling on knowledge and methods from economics and physics, climatology, biology, or ecology. Howard Scott Gordon's 1954 article on fishery economics is considered to be seminal in the history of bioeconomic modeling, integrating biological and economic variables in a microeconomic model. Yet the precise role played by biology in Gordon's initial work remains unclear. On the basis of archival material and thorough analysis of Gordon's early research, this paper examines Gordon's model building and his persistent oscillation between two objectives-the production of a heuristic economic model with standard assumptions, and the conception of a predictive policy tool relevant from a fishery-biology |
| Keywords: | Integrated Model, interdisciplinarity, Fishery Economics, History of Economics |
| Date: | 2023–08–16 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04250105&r=env |
| By: | Ralph De Haas; Ralf Martin; Mirabelle Muuls; Helena Schweiger |
| Abstract: | We use data on 10, 852 firms across 22 emerging markets to analyse how credit constraints and deficient firm management inhibit corporate investment in green technologies. For identification, we exploit quasi-exogenous variation in local credit conditions. Our results indicate that both credit constraints and green managerial constraints slow down firm investment in more energy efficient and less polluting technologies. Complementary analysis of data from the European Pollutant Release and Transfer Register (E-PRTR) reveals the pollution impact of these constraints. We show that in areas where more firms are credit constrained and weakly managed, industrial facilities systematically emit more CO2 and other gases. This is corroborated by the finding that in areas where banks needed to deleverage more after the Global Financial Crisis, industrial facilities subsequently reduced their carbon emissions considerably less. On aggregate this kept CO2 emissions 5.6% above the level they would have been in the absence of credit constraints. |
| Keywords: | Credit constraints, green management, CO2 emissions, energy ei??ciency , Productivity |
| Date: | 2022–12–15 |
| URL: | http://d.repec.org/n?u=RePEc:cep:poidwp:055&r=env |
| By: | Warren -Myers; Georgia; Lucy Cradduck |
| Abstract: | Climate-related events cause catastrophic damage to individuals, communities, and property. Current trajectories and tipping points for minimising global warming suggest these events will exacerbate substantially in coming years in both severity and regularity. While impacts of actual events on property are broadly considered by the built environment professions, other professions, governments, industry, and individuals. There is an absence in the literature and industry resources of a direct consideration of the impacts of climate change risks (current and future) in valuation and property practices. This research investigated 30 Australian valuers in 2021 and 2022 through semi-structured interviews to explore valuers’ consideration of climate-related risks and climate change implications in valuations. The research found valuers engage with obvious and immediate physical risks; and seek to engage with searches and make other enquiries to identify the impact of past events. However, there appears to be a lack of consideration of the potential impacts from climate change, and its effects on extant risks. Constraints such as costs and client instructions, adversely impacted what is considered; how much past data is engaged with; and how such risks are reported. The risks specifically engaged with also depended upon property type. Where climate risks were reported, this was accompanied by disclaimers, and or statements, referring the client to seek specialist advice. It is suggested there may be a lack of appropriate consideration and acknowledgment of such risks by property stakeholders, and valuers; and a lack of appropriate education and support documents. There could be potential for substantial ramifications on property and finance markets if these risks are not acknowledged or properly considered. While not (yet) evidenced in court decisions, in the future these knowledge gaps could expose valuers to claims (and or findings) of negligence. |
| Keywords: | Australia; Climate Change; Risk; Valuation |
| JEL: | R3 |
| Date: | 2023–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2023_33&r=env |
| By: | Sylla Maldini; Andrée De Serres |
| Abstract: | The environmental, social, economic, institutional, and regulatory contexts in which organizations operate are increasingly critical and demanding when it comes to taking ESG issues into account. Corporate governance had to adapt and become increasingly sophisticated. The innovative organization must attest of the performance of its governance mode, its business model, and its sound management of ESG issues by measuring the impacts, both positive and negative, of its activities and decisions. We are entering a new era, the one of social, climate and ecological governance. The challenge is to identify the limits of the perimeter and the scope of these impacts, including their relationships with the different organizational levels. The overview of the academic and documentary literature on the concept of impact reveals its omnipresence in several frameworks and regulations, but also its importance in the development of major disclosure standards. The study of the nature of the impacts that must now be taken into consideration shows the preponderance of the environmental dimension, but also the complexity linked to the socio-economic dimension. In the real estate sector, the evaluation of the two-way impacts between the building and its natural and human ecosystem requires the integration of a multitude of research fields such as environmental psychology, social entrepreneurship, urban design, social life cycle analysis, etc. Indeed, the assessment of the impacts on the various stakeholders of the organization is multi-faceted, especially when it comes to assessing well-being. Their involvement seems essential for this exercise. |
| Keywords: | Environmental, Social and Governance; Impact; sustainability; Sustainable Real Estate |
| JEL: | R3 |
| Date: | 2023–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2023_98&r=env |
| By: | Tamas Somogyi (Óbuda University [Budapest]); Rudolf Nagy (Óbuda University [Budapest]) |
| Abstract: | Global warming is one of the hottest topics today, impacting every aspect of our life on Earth. Surprisingly, the effects of climate change on critical infrastructure protection have not been studied extensively. This paper i) examines three challenges raised by heatwaves: managing environmental risks; failure of partners and supply chains caused by extreme weather; operation during heatwaves, and ii) gives an overview of the responses of the European financial sector. By contributing to the growing research area of global warming, this study provides an opportunity to understand some of the climate risks better and offers some insights into the climate strategy of the European banking industry. Research data is drawn from two primary sources. Relevant literature was explored, and current supervisory recommendations were examined along with the results of the European financial sector's first climate risk stress test. |
| Keywords: | European Central Bank, banking industry, critical infrastructure protection, heat waves, Global warming |
| Date: | 2022–12–30 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04242910&r=env |
| By: | Jake Hitch;Nadine Henderson;Graham Cookson |
| Abstract: | Tackling the climate crisis is an international priority. Healthcare has a high carbon footprint, accounting for 5% of the UK's carbon footprint (Lenzen et al., 2020) and NHS England has estimated that the manufacture, supply, and use of pharmaceuticals account for 25% of the NHS's total carbon footprint (NHS England, 2020). As part of a raft of measures to improve sustainability, the UK government and the NHS in England have shown international leadership by setting ambitious net zero targets in recent years. However, it is widely recognised that to meet net zero targets, the private sector has an important role to play in reducing the carbon and broader environmental footprints of the products and services they supply to society. Many pharmaceutical companies have made commitments to reach net zero carbon across their operations, but in order to deliver, several significant, industry-specific challenges must be overcome. This report sets out the high-priority activities that the NHS, UK government and industry should undertake to tackle these challenges. To adopt the recommendations, investment is needed from the industry, the UK Government and the NHS. No one actor can be expected to foot the bill for the upfront and ongoing investment needed to achieve long-term sustainability within the pharmaceutical industry. Any action taken in the UK will need to be replicated internationally to have any impact. Meaningful engagement, collaboration and action need to be taken now by governments, health systems, medicines regulators and companies globally to secure the era of green pharmaceuticals. The core analysis for this report was undertaken before the energy crisis began. The crisis is caused by a number of global factors that have been worsened by local factors to result in high energy prices. The soaring cost of energy serves to reinforce both the urgency for action and the recommended actions outlined in this report. Specifically, the energy crisis shows how vulnerable the global pharmaceutical supply chain is to geo-political events (such as the war in Ukraine), fluctuations in the price of energy due to shortages of supply and the effects of climate change like heatwaves, fires and draughts. In the context of high energy prices, any actions to improve energy efficiency will pay for themselves more quickly increasing the incentives on companies to invest in energy efficiency to reduce the vulnerability of the industry to global shocks in the future. |
| Keywords: | Supporting the Era of Green Pharmaceuticals in the UK |
| JEL: | I1 |
| Date: | 2022–11–01 |
| URL: | http://d.repec.org/n?u=RePEc:ohe:conres:002474&r=env |
| By: | Calel, Raphael; Dechezlepretre, Antoine; Venmans, Frank |
| Abstract: | Carbon markets have emerged in recent decades as one of the most important tools for curbing industrial greenhouse gas emissions, but they present a number of novel enforcement challenges as compared to more conventional pollution regulations—new regulators with narrow authority, lack of legal precedent, and more. To shed light on the practical issues involved in policing carbon markets, we present the first comprehensive analysis of the EU Emissions Trading System, a single program that was policed by 31 different national regulators. We find generally high rates of compliance coupled with low rates of enforcement, a pattern that is known in the literature as ‘Harrington’s paradox.’ Variation in the probability and severity of fines explain just one tenth of the variation in compliance rates. Meanwhile, other enforcement strategies that have been pointed to as resolutions to Harrington’s paradox in other applications, such as ‘naming and shaming, ’ appear to have had little discernible effect. |
| Keywords: | pollution control; compliance; enforcement; cap-and-trade |
| JEL: | Q50 Q52 C14 |
| Date: | 2023–09–13 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:120565&r=env |
| By: | Nawel Fellah-Dehiri (UMR PSAE - Paris-Saclay Applied Economics - AgroParisTech - Université Paris-Saclay - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Marine Masson (SayFood - Paris-Saclay Food and Bioproduct Engineering - AgroParisTech - Université Paris-Saclay - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Pascale Ezan (NIMEC - Normandie Innovation Marché Entreprise Consommation - UNICAEN - Université de Caen Normandie - NU - Normandie Université - ULH - Université Le Havre Normandie - NU - Normandie Université - UNIROUEN - Université de Rouen Normandie - NU - Normandie Université - IRIHS - Institut de Recherche Interdisciplinaire Homme et Société - UNIROUEN - Université de Rouen Normandie - NU - Normandie Université); Patricia Gurviez (SayFood - Paris-Saclay Food and Bioproduct Engineering - AgroParisTech - Université Paris-Saclay - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | Based on 15 depth-interviews conducted in French primary schools catering for children aged from 6 to 12 years, our results highlight the importance of the contribution of all educators in raising children's awareness and engagement to environmental issues. Educators such as teachers, but also catering staff and curriculum facilitators, play a central role in education for sustainability with a double commitment: awareness raising and behavioral change. Educators' commitment mobilizes existing and innovative resources to achieve their goal. |
| Keywords: | Conference track: Track 5: Global climate change environment protection over consumption and sustainability, Conference track: Track 5: Global climate change, environment protection, over consumption and sustainability |
| Date: | 2023–04–24 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04241258&r=env |
| By: | P. Andres-Domenech (BETA - Bureau d'Économie Théorique et Appliquée - AgroParisTech - UNISTRA - Université de Strasbourg - Université de Haute-Alsace (UHA) - Université de Haute-Alsace (UHA) Mulhouse - Colmar - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Valérie Angeon (ECODEVELOPPEMENT - Unité de recherche d'Écodéveloppement - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Samuel Bates (LC2S - Laboratoire caribéen de sciences sociales - CNRS - Centre National de la Recherche Scientifique - UA - Université des Antilles); Colombine Lesage (PEYI - Plateforme Expérimentale sur le végétal et les agrosYstèmes Innovants en milieu tropical - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | This article presents a new model to manage the provision of healthy food despite incomplete information about exposure of natural resources to a persistent pollutant (chlordecone). This toxic molecule has contaminated both terrestrial and aquatic resources for several decades in the French West Indies. As a consequence, the threat of exposing humans to contaminated food jeopardizes local agricultural and livestock activities. We address the problem that breeders face: producing healthy food with incomplete information on the animals' contamination. We examine the compatibility of respecting health-production constraints with the timing of animal management. We consider the dual set of constraints that breeders face: (1) they must achieve a target contamination rate that complies with the regulation on the Maximum Residue Limits (MRL) and (2) they must comply with a production calendar that tells them at what age the animals are to be sold. We also discuss the economic and biotechnical consequences that changes in the MRL impose on meat production. We compute the time required to decontaminate the animals and analyse the cost for farmers to adapt to (i) the regulation in place and to (ii) the more stringent health-related targets that are expected in the future. Our results are sensitive to the choice of species cattle, goats, sheep and pigs), the rearing practices, the information setting and the initial contamination rate. This paper opens strategic windows for breeders to guarantee their economic sustainability and their ability to produce healthy meat despite the incomplete information on pollution at their disposal. |
| Keywords: | Livestock, Soil pollution, Maximum residue limits for pesticides, Safe meat production |
| Date: | 2023–08–04 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04242035&r=env |
| By: | Picard, Julien; Banerjee, Sanchayan |
| Abstract: | Fighting the climate crisis requires changing many aspects of our consumption habits. Previous studies show that a first climate-friendly action can lead to another. Does deciding not to eat meat increase our willingness to do more for the environment? Can encouraging vegetarianism alter this willingness? Using an online randomised control trial, we study the side effects of a social norm nudge promoting vegetarianism on environmental donations. We develop an experimental design to estimate these side effects and a utility maximisation framework to understand their mechanisms. Using an instrumental variable, we find that choosing not to eat meat increases donations to pro-environmental charities. We use machine learning to find that the social norm nudge crowds out donations from the population segment prone to choosing vegetarian food after seeing the nudge. However, the nudge led another group to make less carbon-intensive food choices without affecting their donations. Our results suggest that whilst social norm nudges are effective on specific population segments, they can also reduce the willingness of some groups to do more. |
| Keywords: | social norm; meat; climate change; behavioural spillovers; side effects |
| JEL: | C30 C93 D91 Z10 |
| Date: | 2023–09–13 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:120566&r=env |
| By: | Nawel Fellah-Dehiri (UMR PSAE - Paris-Saclay Applied Economics - AgroParisTech - Université Paris-Saclay - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Marine Masson (SayFood - Paris-Saclay Food and Bioproduct Engineering - AgroParisTech - Université Paris-Saclay - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Pascale Ezan (NIMEC - Normandie Innovation Marché Entreprise Consommation - UNICAEN - Université de Caen Normandie - NU - Normandie Université - ULH - Université Le Havre Normandie - NU - Normandie Université - UNIROUEN - Université de Rouen Normandie - NU - Normandie Université - IRIHS - Institut de Recherche Interdisciplinaire Homme et Société - UNIROUEN - Université de Rouen Normandie - NU - Normandie Université); Patricia Gurviez (SayFood - Paris-Saclay Food and Bioproduct Engineering - AgroParisTech - Université Paris-Saclay - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | Based on 15 depth-interviews conducted in French primary schools catering for children aged from 6 to 12 years, our results highlight the importance of the contribution of all educators in raising children's awareness and engagement to environmental issues. Educators such as teachers, but also catering staff and curriculum facilitators, play a central role in education for sustainability with a double commitment: awareness raising and behavioral change. Educators' commitment mobilizes existing and innovative resources to achieve their goal. |
| Keywords: | Conference track: Track 5: Global climate change environment protection over consumption and sustainability, Conference track: Track 5: Global climate change, environment protection, over consumption and sustainability |
| Date: | 2023–04–24 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04240779&r=env |
| By: | Leonard I. Nakamura; Brian Sliker |
| Abstract: | The monetary costs of weather and climate disasters in the U.S. have grown rapidly from 1980 to 2022, rising more than 5 percent in real terms annually. Much of this real growth in costs is likely due to climate change. Regardless of its cause, these costs imply a faster depreciation of real assets. We argue that the expected depreciation from these events could be included in the consumption of fixed capital, leading to lower levels, and slightly lower growth rates, for net domestic product (NDP). We use Poisson pseudo-maximum-likelihood regressions to estimate this expectation and to generate our experimental measure of costs. An alternative calculation of depreciation and NDP might be derived from the time series of costs incurred rather than from the far smoother expectation. This latter series might be more appropriate for a national income satellite account. We also investigate the parametric distributions of the annual average-cost and total-cost data. |
| Keywords: | Climate Change; Anthropocene; Depreciation; National Accounts; Disasters |
| JEL: | Q54 Q56 C82 |
| Date: | 2023–10–30 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedpwp:97213&r=env |
| By: | Eugenie Dugoua |
| Abstract: | This paper revisits one of the rare success stories in global environmental cooperation: the Montreal Protocol and the phase-out of ozone-depleting substances. I show that the protocol increased science and innovation on alternatives to ozone-depleting substances, and argue that agreements can indeed be useful to solving global public goods problems. This contrasts with game-theoretical predictions that agreements occur only when costs to the players are low, and with the often-heard narrative that substitutes were readily available. I reconcile theory and empirics by discussing the role of induced innovation in models of environmental agreements. |
| Keywords: | induced innovation, directed technological change, green innovation |
| JEL: | O30 Q55 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_10669&r=env |
| By: | Ralf Martin; Dennis Verhoeven |
| Abstract: | Innovation policy faces a tradeoff between growth and climate objectives when the knowledge spillover externality from clean innovation is low compared to other sectors. To make such a comparison, we use patent data to estimate field-specific spillover returns generated by R&D support. Supporting Clean presents itself as a win-win opportunity, yielding global returns one-eighth higher than those of an untargeted policy. Nevertheless, only a modest portion of the returns stays within country borders, raising the question of whether national interests distort efficient allocation. Our policy simulations underscore the benefits of supranational coordination in clean innovation policy, potentially boosting returns by approximately 25% for the EU and over 60% globally. Moreover, the EU benefits strongly from US Clean innovation spillovers, impacting the debate on the Inflation Reduction Act. Overall, we identify no explicit innovation policy tradeoff in tackling the twin challenges of economic growth and climate change but emphasize the necessity for international cooperation. |
| Keywords: | innovation, knowledge spillovers, clean technology, innovation policy, green transition, net-zero, patent data, Economic geography, Green Growth, Productivity, Technological change |
| Date: | 2023–07–12 |
| URL: | http://d.repec.org/n?u=RePEc:cep:cepdps:dp1933&r=env |
| By: | Hernández, Karla; Madeira, Carlos |
| Abstract: | Using region-industry panel data for Chile over the period 1985 to 2017, we find no effect of precipitation changes on GDP and a negative impact of higher summer temperatures on Agriculture-Silviculture and Fishing. An increase of one Celsius degree in the month of January implies a 3% and 12% GDP reduction in Agriculture and Fishing, respectively. There is also a negative effect of higher temperatures in January on Construction and Electricity, Gas, and Water. Our analysis suggests that climate change did not have a big impact on the Chilean economy during this period. Stress test exercises that select only the negative and statistically significant coefficients imply that the Chilean GDP would fall between -14.8% and -9% in 2050 and between -29.6% and -16.8% in 2100, according to our model. |
| Keywords: | climate change; economic damages from climate change; economic growth; global warming; Chile; Latin America |
| JEL: | O44 O54 Q51 Q59 R11 |
| Date: | 2021–12 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:118973&r=env |
| By: | Dugoua, Eugenie |
| Abstract: | This paper revisits one of the rare success stories in global environmental cooperation: the Montreal Protocol and the phase-out of ozone-depleting substances. I show that the protocol increased science and innovation on alternatives to ozone-depleting substances, and argue that agreements can indeed be useful to solving global public goods problems. This contrasts with game-theoretical predictions that agreements occur only when costs to the players are low, and with the often-heard narrative that substitutes were readily available. I reconcile theory and empirics by discussing the role of induced innovation in models of environmental agreements. |
| Keywords: | induced innovation; directed technological change; green innovation |
| JEL: | O30 Q55 |
| Date: | 2023–06–21 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:120482&r=env |
| By: | Timothy Halliday; Rachel Inafuku; Lester Lusher; Aureo de Paula |
| Abstract: | This study pairs variation stemming from volcanic eruptions from Kilauea with the census of Hawai'i's public schools student test scores to estimate the impact of particulates and sulphur dioxide on student performance. We leverage spatial correlations in pollution in conjunction with proximity to Kilauea and wind direction to construct predictions of pollution exposure at each school. We precisely estimate that increased particulate pollution leads to a small but statistically significant drop in average test scores. Then, utilizing Hawai'i's rich diversity across schools in baseline exposure, we estimate sharp nonlinearities schools with higher baseline levels of pollution experience larger decreases in test scores than schools with less pollution exposure on average. At levels of particulate pollution higher than six micrograms per cubic meter (I?g/m3), we estimate that a one standard deviation increase in PM2.5 leads to a decline in test scores of 1.1 percent of a standard deviation. Lastly, we find that within schools the drop in test scores is concentrated among economically disadvantaged students. The effects of PM2.5 on student test scores are larger by a factor of ten for the poorest pupils. Similarly, the effects of SO2 are larger by a factor of six. We demonstrate that poor air quality disproportionately impacts the human capital accumulation of economically disadvantaged children. |
| Keywords: | VOG, particulates, test scores, kriging, environmental justice |
| Date: | 2022–12–06 |
| URL: | http://d.repec.org/n?u=RePEc:cep:poidwp:051&r=env |
| By: | Senni, Chiara Colesanti; Pagliari, Maria Sole; van 't Klooster, Jens |
| Abstract: | This paper investigates the climate impact of central bank refinancing operations, with a focus the ECB’s TLTRO III program. Notably, we construct a novel database that combines i) confidential data on loans granted by EU banks to non-financial corporations; ii) confidential data on TLTRO III participation and iii) data on sectoral emissions. We find that the emissions content of bank loans granted over the TLTRO III reference period amount to 8% of overall Euro Area 2019 emissions and that more than 80% of total cumulated loans issued in the reference period was directed towards polluting companies. We then investigate the effectiveness of a green credit easing scheme via a general equilibrium model. Our findings are twofold: first, the central bank policy can increase the costs for lending to polluting companies, thus re-directing loans to less-polluting firms; second, the financial stability implications of such a policy should be carefully considered. Finally, we address legal and operational challenges to such a policy by outlining three alternative ways of implementing a “green” TLTRO programme. |
| Keywords: | TLTRO; CO2 emissions; transition risk; monetary policy; financial stability |
| JEL: | E40 E50 Q50 Q54 |
| Date: | 2023–05–31 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:120562&r=env |
| By: | Cian Mulligan (King Abdullah Petroleum Studies and Research Center) |
| Abstract: | Localization and local content mandates are an increasing presence in the global investment landscape, and the development of local content policy in Saudi Arabia will be an important factor in the lasting legacy of Vision 2030. While virtually all industries are targeted by local content mandates in Saudi Arabia, a sector tipped for strict targets and maximum local value added is renewable energy production. This is no surprise, as the abundant natural resources of sun and wind make the Kingdom well placed to be globally competitive in the sector, and as the industry is still in its infancy, an opportunity exists to localize from the ground up. This paper looks at the employment possibilities across the value chain of solar PV and onshore wind and, applying the unique characteristics of the Saudi labor force, investigates where localization mandates should target in order to optimize the benefits to the Saudi economy. |
| Keywords: | Belt and Road, Capital expenditure, Circular Carbon Economy, CO2 emissions |
| Date: | 2023–10–09 |
| URL: | http://d.repec.org/n?u=RePEc:prc:dpaper:ks--2023-dp15&r=env |
| By: | Sven Alsheimer (Fraunhofer Institute for Systems and Innovation Research ISI, Breslauer Str. 48, 76139 Karlsruhe, Germany); Tamara Schnell (Carl von Ossietzky University Oldenburg, Ammerländer Heerstraße 114-118, 26129 Oldenburg, Germany); Camilla Chlebna (Department for Geography, Kiel University, Ludewig-Meyn-Straße 8, 24118 Kiel, Germany); Sebastian Rohe (Carl von Ossietzky University Oldenburg, Ammerländer Heerstraße 114-118, 26129 Oldenburg, Germany) |
| Abstract: | The large-scale deployment of low-carbon energy technologies is crucial for reducing greenhouse gas emissions and ideally limiting climate change. The success of this transition towards a carbon-neutral society depends on how these technologies are perceived by civil society and whether key societal stakeholders support or oppose their roll-out. Two major debates addressing this issue revolve around the concepts of acceptance and legitimacy. Acceptance literature examines the drivers and levels of support of novel technologies and socio-technical systems. Legitimacy literature captures how these technologies are aligned to their institutional environment. Thus far, there is little cross-fertilisation between the two debates. For this contribution, we conducted a systematic literature review of the two research streams to gain a better understanding of how the social dynamics of low-carbon energy technology deployment are conceptualised. Our review involved the analysis of 240 articles from SCOPUS that empirically studied the acceptance or legitimacy of low-carbon energy technologies. Our findings suggest that the two literature strands are indeed rather disconnected – few articles use both concepts conjointly. They further illustrate that both have distinct research foci and intellectual roots. Acceptance studies tend to focus on individual perspectives towards specific technologies and relate these to the individuals’ backgrounds. In contrast, legitimacy studies tend to focus on the overall alignment of specific technologies or entire innovation systems with the institutional context. Based on our findings, we propose a framework, to allow for a better understanding of the dynamic interplay between macro-level legitimacy evaluations and micro-level acceptance evaluations. |
| Keywords: | Acceptance, Legitimacy, Public perceptions, Acceptability, Legitimation, Low-carbon energy technologies |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:aoe:wpaper:2301&r=env |
| By: | Gheorghe Multescu; Ali Parsa; Alice Apponyi |
| Abstract: | This research explores barriers to implementing sustainability measures in existing Central London Office spaces from different a Stakeholder’s perspective. Drawing on insights from the literature, this research identifies limitations of building assessment methods and environmental certification including Green Leases, EPCs and BREEAM In-Use. Data from 30 semi-structured interviews across four Stakeholder groups were utilised to extrapolate findings using both close and open-ended research questions which enabled a focused yet conversational interaction with the interviewee. The data analysis and preliminary findings highlight several themes from a Stakeholders perspective, which have so far been unexplored in literature enabling three objectives to be met. The three objectives focus on barriers to sustainability measures with a specific focus on BREEAM In-Use, value aspects brought about by good workspace design, Smart Building Technology, and its influence on Stakeholder’s communication and finally, difficulties of retrofitting existing office spaces with technology to enhance environmental performance and potential solutions. More attention should be given to mitigate issues associated with the BREEAM In-Use certification, specifically auditor integration which can affect innovation, communication, and costs. The degree of value aspects brought about by good workspace design varies according to specific Stakeholder category, nonetheless, all agree that value is brought about; SBT increases end-user control and of all the Stakeholder relationships, the Landlord & Tenant relationship is most positively impacted by using SBT. Despite the surge in demand for sustainable spaces, uptake of SBT is slow. SBT could be used as a complimentary technology alongside building assessments (such as BREEAM In-use) to ensure higher sustainability output of an existing office space is achieved and not hindered but only if the barriers associated with BREEAM In-Use integration are recognised by policy makers and there is a commitment or strategy in place to incentivise Landlords to retrofit existing spaces with SBT. Landlords’ incentives to uptake SBT. |
| Keywords: | Environmental certification; Smart Building Technology; Sustainable Offices; Workspace Design Solutions |
| JEL: | R3 |
| Date: | 2023–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2023_331&r=env |
| By: | Andrew Brown; Frithjof Laubinger; Peter Börkey |
| Abstract: | Extended Producer Responsibility (EPR) is a policy approach that makes producers responsible for their products at the post-consumer stage of the lifecycle. It has been widely adopted by governments and companies across the OECD membership and beyond and is currently most commonly used for electronics, packaging, vehicles, and tyres. The success of EPR in increasing material recovery rates has triggered a debate about expanding the use of EPR to additional product groups. Additionally, there is a debate about expanding producer responsibilities to additional impact categories, which go beyond the traditional use of EPR to cover end-of-life costs that occur at the domestic level. This paper presents a discussion of relatively novel applications of EPR to additional product groups (plastic products beyond packaging, textiles, construction materials, and food waste) and to environmental impacts (design considerations, pollution and littering) that occur throughout the product lifecycle. Based on select case studies, this report evaluates the successes and challenges that early adopters of applying the EPR approach to new product groups or additional environmental impact categories have experienced. It reviews the arguments for further application of EPR, possible limitations and provides guidance on when and how to best apply an EPR. |
| Keywords: | circular economy, food, plastics, textiles, trade, waste management |
| JEL: | F18 L65 L66 L67 Q53 Q56 |
| Date: | 2023–11–09 |
| URL: | http://d.repec.org/n?u=RePEc:oec:envaaa:225-en&r=env |
| By: | Yervand Martirosyan |
| Abstract: | Existing studies demonstrate the short-run connection between environmental conditions and academic performance. However, the long-term effects of exposure to adverse living conditions on academic achievement remain underexplored. This study investigates the long-term impact of energy poverty, and policy interventions aimed at alleviating it, on the academic performance of Chinese schoolchildren starting from infancy. It specifically utilizes the Huai River Policy, which provides free winter heating exclusively to northern regions in China but not to adjacent southern regions. My findings suggest a significant positive influence of winter heating on schoolchildren’s academic performance, with a more pronounced effect for children born during winter months. The insights gained from this research could inform policy debates to enhance educational outcomes and human well-being. |
| Keywords: | energy poverty, academic performance, climate |
| JEL: | I24 I25 Q51 Q54 Q58 |
| Date: | 2023–08 |
| URL: | http://d.repec.org/n?u=RePEc:cer:papers:wp761&r=env |
| By: | Ulrich Bogenstätter; Rabih Slim |
| Abstract: | To implement economic strategies that consider the entire life cycle of a property, criteria such as sustainability, agility, usability, safety, time, and cost are crucial. The literature shows that real estate and facilities management researchers strive to develop agile and easy-to-use calculation methods to achieve CO2 reduction goals and better account for building life-cycle costs by choosing green and cost-effective solutions and strategies. However, few tools can address these issues by providing an integrated IT solution to determine the life cycle cost-effectiveness of construction measures through an easy and performant calculation model. For that reason, the research project on cost-benefit simulation with partners from the University of Applied Sciences Mainz and the “LBB” (State Office for Real Estate and Construction), owner of 1600 buildings in Germany, aims to develop a model for calculating the life-cycle costs, energy efficiency, and the environmental impact of buildings in monetary terms based on the “DIN” Standard Building Occupancy Costs (DIN 18960 2020-11). This paper shows a case study calculated by the new tool “NUKOSI” (Use of cost calculator and simulation) based on the Filemaker platform developed by Claris. With this database solution, existing data from the planning phase use to determine the life cycle costs of a building and to establish an ecological balance. It is, therefore, possible to carry out a study and statistical analysis of the updating of the supply variants (sale, construction, purchase, rent) and budget planning or portfolio management, which is performed easily or automatically by own or external staff. These have efficient consequences, establishing a carbon footprint oriented on the construction elements, minimizing operating costs, providing modernization and maintenance planning, and maximizing value. “NUKOSI” is used operationally by the “LBB” as an IT solution and has been tested, for example, in higher education, trade, real estate funds, and religious institutions. |
| Keywords: | carbon footprint; Facility Management; Life-cycle cost calculation; real estate management |
| JEL: | R3 |
| Date: | 2023–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2023_73&r=env |
| By: | Jung , Jihyun (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)) |
| Abstract: | China, the world's largest carbon emitter and skeptical of developing countries’ emissions reduction commitments, announced internationally in 2020 its vision to peak carbon emissions in 2030 and achieve carbon neutrality by 2060. China's emission reduction strategy has a significant impact on China's economy and society as a whole, and Korea, which has a close economic ties with China, will also be affected. China's carbon neutral policy announced in 2021 includes the continuous promotion of policies such as direct regulation, public investment, and subsidies, as well as the nationwide implementation of the ETS and the expansion of applicable industries. This study analyzed the impact of China's ETS on Chinese industries using the input-output model, and derived implications for Korea-China economic relations based on the results. |
| Keywords: | China; ETS; Impact on Industries; Korea-China economic relations |
| Date: | 2023–10–19 |
| URL: | http://d.repec.org/n?u=RePEc:ris:kiepwe:2023_037&r=env |
| By: | Afia Malik (Pakistan Institute of Development Economics) |
| Abstract: | Due to concerns over carbon emissions and volatility in fossil fuel prices, there has been a renewed interest in nuclear energy worldwide as a solution to growing energy demands (Vegel and Quinn, 2017). Currently, fossil fuels comprise 63% of Pakistan’s commercial energy supplies, while the remaining 37% is derived from renewables (including hydro)(28%) and nuclear power(9%) (GOP, 2023). |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:pid:kbrief:2023:105&r=env |
| By: | Jafarov, Jafar (Georgia State University); Singh, Tejendra P. (Georgia State University); Sahoo, Soham (Indian Institute of Management Bangalore) |
| Abstract: | We investigate how air pollution impacts outdoor activity avoidance, leveraging changes in local wind direction in an instrumental variable setup for causal identification. Our findings reveal a substantial reduction in time spent outdoors during polluted days, mainly driven by decreased engagement in employment-related activities. This effect varies significantly across age, education level, usual principal activity status, consumption expenditure, and residential location. Moreover, reduced outdoor time due to air pollution can potentially promote a more equitable allocation of unpaid caregiving responsibilities within households via increased male involvement. Our results rule out information provision as the primary mechanism and remain robust under various sensitivity tests. |
| Keywords: | air pollution, time-use, labor supply, intrahousehold bargaining, avoidance behavior, India |
| JEL: | D13 J22 O13 Q53 Q56 |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16552&r=env |
| By: | Martin Christian Höcker; Christian Schlereth; Andreas Pfnür |
| Abstract: | Office buildings are undergoing massive structural change: In view of a changing working world and of increasing competition from work-from-home and third workplaces, they must meet rising user interests, also as a resource in the war for talent. Under the impact of climate change, the ecological transformation of the building stock is essential due to its particular significance for greenhouse gas emissions. At the same time, office buildings should continue to fulfil their investment function on the capital markets. The discussion about the transformation of office buildings has so far taken place academically among experts. The opinion of those most directly affected, the office workers, has so far remained unheard. Yet their opinion could be of particular importance due to the necessary acceptance of possible solutions for resolving any conflicting goals between user, investment and sustainability perspectives. This study fills the gap and examines stakeholders' trade-offs between the three perspectives. The aim of the study is to investigate office workers' preference for the requirements from the three perspectives as well as the influence of different personality traits, such as environmental awareness or financial literacy, on the trade-off process. For this purpose, a choice-based conjoint analysis was conducted among 1, 000 German office workers. The results represent the first measurement of the importance of office workers' requirements for office building from the three perspectives and underline the importance of personality traits for respondents' ratings. The findings highlight directions for further research and provide important implications for business practice around office building transformation. |
| Keywords: | Investment decisions; Sustainable Real Estate; sustainable transformation; User preference |
| JEL: | R3 |
| Date: | 2023–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2023_314&r=env |
| By: | Leonelli, Giulia Claudia |
| Abstract: | The EU proposal for a carbon border adjustment mechanism (‘CBAM’) has triggered a lively academic and policy debate. In June 2022, the European Parliament put forward amendments regarding the potential introduction of export rebates under the EU Emission Trading System (‘ETS’) and the CBAM. This article focuses on this specific proposal, enquiring into the WTO law compatibility of ETS/CBAM export rebates. First, it enquires whether the ‘pecuniary burden’ associated with compliance with the CBAM would qualify as a ‘charge’ that is ‘equivalent to an internal tax’ and that is ‘imposed consistently with Article III:2 GATT’. Second, it suggests that the ‘pecuniary burden’ associated with compliance with the ETS/ CBAM is unlikely to qualify as an adjustable product tax; the analysis draws on a close examination of relevant provisions in the General Agreement on Tariffs and Trade (GATT) 1994 and the Agreement on Subsidies and Countervailing Measures (‘SCMA’). Finally, the article develops some brief considerations on the detrimental environmental effects of export rebates. As the article concludes, the regulatory design of the CBAM is not perfect; export rebates, however, would make this scheme considerably worse. |
| Keywords: | agreement on Subsidies and Countervailing Measures; border tax adjustment; carbon border adjustment Mechanism; carbon border measures; charge; emission trading system; export rebates; GATT 1994; tax |
| JEL: | J1 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:120318&r=env |
| By: | Kreibich, Nico; Schulze-Steinen, Max |
| Abstract: | This policy brief explores different options for the EU to promote the integrity of corporate climate action through activities within as well as outside the EU and partially making use of the Article 6 infrastructure. Taking into consideration the new framework conditions established with the adoption of the Paris Agreement, the paper outlines different options of how the EU could push towards more integrity and fight greenwashing. |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:wuprep:279529&r=env |
| By: | Saul Nurick; Andrew Thatcher |
| Abstract: | Green building advocates have stated that improved productivity is linked to green buildings, specifically due to enhanced indoor environmental quality (IEQ). Previous research indicated mixed results in this regard, and therefore conjecture still exists. The purpose of the research was to examine both individual productivity and organisational performance of occupants and businesses, respectively, located in green certified office buildings in South Africa. The research focused on financial services companies (FSCs), where each FSC offered a low, moderate and high risk investment product. Quantitative research was conducted on ten FSCs located in nineteen green certified and ten FSCs located thirteen conventional (non-green) office buildings, to assess organisational performance. Qualitative research was conducted in the form of semi-structured interviews across two FSCs comprising fifteen knowledge workers, to assess individual productivity. The research was conducted within the context of a theoretical framework that focused on the implementation of green building features and initiatives (GBFIs) that focus on IEQ. There was a statistically significant positive relationship (high risk products) when comparing annualised returns to IEQ (Pearson’s Correlation). Interview respondents indicated that location and amenities contributed to organisational culture, collaboration spaces, employee attraction and retention, and safety. These attributes were contributed in some degree to individual productivity. The results continue to indicate that the relationship between enhanced IEQ and individual productivity and organisational performance are not absolute, as there may be external contributing factors. |
| Keywords: | Green building features and initiatives (GBFIs); Indoor environmental quality (IEQ); Performance; Productivity |
| JEL: | R3 |
| Date: | 2023–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2023_17&r=env |
| By: | Borghesi, Simone; Pahle, Michael; Perino, Grischa; Quemin, Simon; Willner, Maximilian |
| Abstract: | Having experienced low prices for about a decade, the European Union Emissions Trading System has been supplemented with the market stability reserve (MSR) that adjusts the supply of allowances to market outcomes. We critically review the literature assessing the performance of the MSR against several policy objectives. In doing so, we cover both conceptual aspects and quantitative assessments. We conclude by pointing out important policy implications and open issues for further research. |
| Keywords: | climate policy; emissions trading; EU ETS; overlapping policies; stability mechanism |
| JEL: | J1 |
| Date: | 2023–10–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:120548&r=env |
| By: | Muhammad Aulia Anis (Department of Economics, Faculty of Economics and Business, Universitas Gadjah Mada); Wisnu Setiadi Nugroho (Department of Economics, Faculty of Economics and Business, Universitas Gadjah Mada); Eny Sulistyaningrum (Department of Economics, Faculty of Economics and Business, Universitas Gadjah Mada) |
| Abstract: | Air pollution is a significant issue in emerging economies like Indonesia, with detrimental effects on human health. This study aimed to analyse the impact of air pollution on child development, using various datasets and employing an instrumental variable approach. The findings revealed that an increase of 1 𠜇𠑔/𠑚3 in regional PM 2.5 concentration had a significant negative effect on child growth, reducing height-for-age and weight-for-age scores by 0.08 standard deviations. No significant impact was observed on the stunting variable. The study also found that girls were particularly susceptible to impaired child development due to air pollution. These results emphasize the need for policies targeting air pollution reduction to support healthy child development, especially in low-income households. |
| Keywords: | Air Pollution, Child Development, PM 2.5, Instrumental Variable |
| JEL: | I15 Q51 Q53 |
| Date: | 2023–08 |
| URL: | http://d.repec.org/n?u=RePEc:gme:wpaper:202308009&r=env |
| By: | Robert J.R. Elliott; Gavin Harper; Benjamin Jones; Viet Nguyen-Tien |
| Abstract: | Rising demand for electric vehicles (EVs) is changing the geopolitical landscape, as the world pivots away from fossil fuels towards the green minerals critical to the EV supply chain. Benjamin Jones, Viet Nguyen-Tien, Robert Elliott and Gavin Harper explain how the race to secure the supply of raw materials needed for EV batteries is creating new opportunities and geopolitical risks. |
| Keywords: | technological change, green growth, electric vehicles, global value chains, resource mobilisation, critical materials |
| Date: | 2023–10–20 |
| URL: | http://d.repec.org/n?u=RePEc:cep:cepcnp:664&r=env |
| By: | Timu, Anne G.; Shee, Apurba; You, Liangzhi |
| Abstract: | Changes in frequency and intensity of climate and weather events are a key challenge to agricultural production among farmers in Zambia. Climate variability reduces farm productivity, which in turn contributes to household food insecurity, income variability, and reduced overall economic growth. Using improved technologies such as mechanization, improved seed varieties, irrigation, and fertilizer can improve climate resilience and farm production among smallholder farmers. However, in Zambia, as in many countries in sub-Saharan Africa, most famers lack sufficient access to credit to purchase these technologies. Limited access to credit is mainly attributed to lack of collateral, fear of losing collateral in case of a default, and low financial literacy among smallholder famers (Balana et al. 2022). Information asymmetry also makes it risky and expensive for lenders to serve smallholder farmers, thus they ration the quantity of credit offered and/or raise the interest rates making credit too expensive and inaccessible for millions of smallholder farmers. Bundling agricultural credit with insurance, commonly referred to as risk-contingent credit (RCC), provides a mechanism for addressing some of the credit access constraints faced by smallholder farmers in developing countries. RCC is a loan product that is bundled with an insurance component. RCC seeks to enhance long-term resilience to climate uncertainties by promoting optimal farm investment and productivity among smallholders through sustainable access to credit markets. Under RCC, qualifying smallholder farmers borrow funds for agricultural production from formal financial institutions such as banks and microfinance institutions with minimum collateral requirements. The borrower’s ability to repay the loan is linked to climate outcomes, which are highly correlated with farm productivity. An insurance company underwrites the climate risks (either in the form of drought or flood), such that if that underlying risk passes a certain threshold, the insurance is triggered and part or all of the borrower’s liability is transferred to the insurer. If the underlying risk remains below the threshold, the borrower repays the loan at the agreed upon interest rates and is also obligated to pay the insurance premium, as part of the loan repayment. Linking farmers’ loan repayment obligations to an underlying risk, as opposed to stringent collateral requirements, is expected to reduce the borrowing constraints faced by many poor farmers. At the same time, de-risking the lender by transferring a portion of risks to the insurance market is expected to promote credit supply, hence expanding the rural credit market (Shee et al. 2019). |
| Keywords: | ZAMBIA; SOUTHERN AFRICA; AFRICA SOUTH OF SAHARA; AFRICA; agricultural credit; agricultural production; climate change; climate resilience; extreme weather events; households; income; irrigation; smallholders |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:prnote:136947&r=env |
| By: | Pierluigi Morano; Marco Locurcio; Debora Anelli |
| Abstract: | In the current geo-political context, attention to sustainable finance issues has grown with an increase in institutional and private investors who prefer Environmental Social and Governance (ESG) compliant investments: these investments are considered "resilient" with respect to possible future shocks markets, especially in the real estate sector. In order to support investment decisions, numerous metrics have been created to evaluate the level of ESG, often not very transparent and robust, which prevent comparison and discourage investors. The proposed research is aimed at defining a methodological approach that, consistently with the EU taxonomy and Sustainable Finance principles, is able to determine the ESG level of real estate investment funds for supporting the institutional and private investors during the decisional phases of choosing the best fund to invest in. The aim is achieved through the development of a transparent methodological approach structured into the following phases: i) analysis of the criteria and construction’s structure adopted by the main ESG metrics (es. GRESB, Sustainalytics etc.), ii) examination of the criteria considered by the metrics among the three environmental, social and governance issues, iii) identification of an adequate and balanced set of quali-quantitative indicators related to the ESG issues of the real estate investment funds, iv) development of an innovative assessment metric (ESG index) through the use of multi-criteria aggregation based techniques. In this way the proposed methodological approach allows to: i) provide a systematization of the existent literature on the ESG metrics’ features in order to highlight the main weaknesses, ii) ranking the ESG performances of the real estate investment funds, iii) support the institutional and private investors with a transparent and retraceable methodology that can be used for comparing the different real estate investment funds’ ESG performances and identify the most suitable one. The main contribution of the proposed research relates to the possibility of fostering the standardization of the ESG metrics construction in order to facilitate the comparison, avoid the “black boxes” of the construction process and applying the ESG principles in the real estate sector. |
| Keywords: | Esg; investment analysis; Sustainable Finance; Sustainable Real Estate |
| JEL: | R3 |
| Date: | 2023–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2023_124&r=env |
| By: | Béatrice Parguel (DRM - MLAB - Dauphine Recherches en Management - MLAB - DRM - Dauphine Recherches en Management - Université Paris Dauphine-PSL - PSL - Université Paris sciences et lettres - CNRS - Centre National de la Recherche Scientifique); Guillaume Johnson (DRM MOST - DRM - Dauphine Recherches en Management - Université Paris Dauphine-PSL - PSL - Université Paris sciences et lettres - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | In a two-part article, we're going to understand if advertising can be saved from "greenwashing". The first part will explain what "greenwashing" is and how green claims work. The second part will then understand why "greenwashing" is a problem and – most importantly – if and how we can solve it. |
| Keywords: | Green advertising, greenwashing, green claims, sustainability |
| Date: | 2023–10–23 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04258804&r=env |
| By: | Zinnbauer, Maximilian; Eysholdt, Max; Kreins, Peter |
| Abstract: | Die in der Nitratrichtlinie vorgegebenen Ziele für die Qualität des Grundwassers konnten bislang weder in Deutschland insgesamt noch in Rheinland-Pfalz (RP) flächendeckend erreicht werden (BMU und BMEL, 2020). In RP befanden sich 2019/2020 35 der insgesamt 117 Grundwasserkörper in schlechtem chemischem Zustand, was etwa 40 % der Landesfläche entspricht (MKUEM Rheinland-Pfalz, 2022). Davon sind 31 Grundwasserkörper in schlechtem chemischem Zustand aufgrund von Nitrat. Sowohl die Wasserrahmenrichtlinie als auch die 2021 in Kraft getretene Erstfassung der Allgemeinen Verwaltungsvorschrift zur Ausweisung mit Nitrat belasteter Gebiete (AVV GeA) benötigt räumlich differenzierte Informationen zur Maßnahmenplanung und zur Gebietsabgrenzung. Vor diesem Hintergrund wurde ein Instrument entwickelt, das landwirtschaftliche Stickstoffemissionen räumlich hochaufgelöst auf Gemeindeebene und auch innerhalb der Gemeinde quantifiziert. Die Ergebnisse stellen die Stickstoffbilanzen für den Betrachtungszeitraum 2016-2019 detailliert dar. Diese Informationen können als Ent- scheidungshilfe für politische Prozesse, als Grundlage für das Umwelt-Monitoring und als Informationsgrundlage für das landwirtschaftliche Stickstoffmanagement genutzt werden. Die Ergebnisse ermöglichen die Identifikation von Hot-Spots und von unbelasteten Gebieten und erlauben Rückschlüsse auf die Ursachen der landwirtschaftlichen Stickstoffemissionen. In Kombination mit zusätzlichen geografischen, naturräumlichen Informationen lassen sich regionale Austragspotenziale abschätzen (Nitratauswaschung). |
| Abstract: | The targets for groundwater quality set out in the Nitrates Directive have not yet been achieved across the board, neither in Germany as a whole nor in Rhineland-Palatinate (RP) (BMU and BMEL, 2020). In RP, 35 of the total 117 groundwater bodies were in poor chemical condition in 2019/2020, corresponding to about 40 % of the state's area (MKUEM Rheinland-Pfalz, 2022). 31 groundwater bodies are in poor chemical condition due to nitrate. Both the Water Framework Directive and the first version of the General Administrative Regulation for the Designation of Nitrate Polluted Areas (AVV GeA), which was passed in 2021, require spatially differentiated information for the planning of mitigation measures and the delineation of polluted areas. Against this background, a tool was developed that quantifies agricultural nitrogen emissions with high spatial resolution, at the municipality level and also within the municipality. The results provide detailed nitrogen budgets for the period 2016 to 2019. This information can be used as a decision support tool for policy processes, as basis for environmental monitoring, and to inform agricultural nitrogen management. The results enable the identification of pollution hot spots as well as uncontaminated areas and allow conclusions to be drawn about the causes of agricultural nitrogen emissions. In combination with additional geohydrological information, regional discharge potentials can be estimated (nitrate leaching). |
| Keywords: | Landwirtschaft, Stickstoff, Gewässerschutz, regionale Analysen, Modellierung, Rheinland-Pfalz, agriculture, nitrogen, water protection, regional analyses, modeling, Rhineland-Palatinate |
| JEL: | Q10 Q15 Q18 Q24 Q25 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:jhtire:279527&r=env |
| By: | Yassien Bachtal; Fabian Lachenmayer; Kyra Voll; Andreas Pfnür |
| Abstract: | The housing sector consumes a large amount of energy and natural resources. The impact on the environment during a building’s lifetime is substantial. In order to handle these challenges, the United Nations adopted the 2030 Agenda for Sustainable Development with the Sustainable Development Goals (SDGs). Particularly digital technologies play a key role in achieving the SDGs as they offer benefits for individuals, organizations, and society in the future. However, to successfully implement digital technologies, the society and its attitudes towards digitalization have to be considered. To date, in housing, little is known about the psychological antecedents and the impact of affinity for technology regarding the purchase intention of digital housing. By using the theory of planned behaviour (TPB), this study aims to better understand why consumers tend to purchase digital housing. Therefore, the effects of attitudes towards the behaviour, subjective norm, and perceived behavioural control on the purchase intention of digital housing are examined. Furthermore, the TPB is extended by incorporating affinity for technology as a moderator variable. Based on literature research, a survey was developed and n = 748 private households in Germany participated. Partial Least Squares Structural Equation Modelling (PLS-SEM) is used for the analysis since it is particularly suitable for applied science because it makes it possible to test hypothesized relationships. To empirically evaluate the derived hypotheses a two-step approach is applied. In the first step, a base model including attitudes towards the behaviour, subjective norm, perceived behavioural control, and purchase intention of digital housing is run. In the second step, the moderation analysis for affinity for technology is conducted. The results emphasize the importance of subjective norms and perceived behavioural control on the intention to purchase digital housing. Moreover, affinity for technology positively moderates the effect of attitudes towards the behaviour on the intention to purchase digital housing. The study provides important implications for theory and management practice in order to realize a more digital and greener future in housing. As society’s affinity for technology grows the intention to purchase digital housing increases. Consequently, digitalization and sustainability must be integrated in order to meet the requirements of the SDGs in the future. |
| Keywords: | Digitalization; housing; sustainability; Theory of planned behaviour |
| JEL: | R3 |
| Date: | 2023–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2023_118&r=env |
| By: | Alix Rouillé (PhD student, CEPS, ENS Paris-Saclay) |
| Abstract: | The combination of social norms and nudges has proven to be a powerful tool for inciting people to adopt pro-environmental behaviors. In this study, we implemented nudges that promote pro-environmental behavior still not explored by behavioral economics: waste composting. In particular, we designed priming and social norm nudges to incite people looking for information about waste composting possibilities. We set up a field experiment with a two-fold purpose. First, remove the barriers towards collective composting in Lyon by using posters related to priming theory with QR Codes that redirect directly to the website of a local association dedicated to environmental actions. Second, these posters created new social norm mechanisms. Since composting is still practiced by only a minority of people in France, the standard way of combining nudges and social norms is insufficient in this context. Here, we focus on descriptive and injunctive norms with local dimensions. These new norms aimed to make the nudge more efficient by increasing the number of scans. We observed that the scans of the posters allowed for a significant increase in the visits to the website over several months, thus improving information about collective waste composting. Although no significant differences were found between social norms treatments, these results show that the QR Code is a promising tool for implementing nudges. |
| Keywords: | Nudge, composting, priming, social norms, QR Code |
| JEL: | C93 D91 Q53 |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:fae:wpaper:2023.11&r=env |
| By: | Matthias Lehner; Wolfgang Brunauer |
| Abstract: | Energy performance certificates (EPCs) exist for real estate objects in many countries around the world. These documents represent a rich source of real estate information for both residential and commercial properties. Depending on the country, energy performance certificates provide detailed information on energy efficiency and pollutant emissions, as well as a wide variety of other useful data: Information on location, usage profile, year of construction, time of the last change (e.g., year of refurbishment), geometric information (lengths, areas, volumes), temperature-, climate-, heat- and ventilation-related information, information on energy generation and storage as well as information on the validity duration and the issuer. For many applications, it would be desirable to have this data available in a structured, digital form for a large number of properties. For certain applications, for example, to meet legal requirements in the area of environmental, social, and governance (ESG), having this data is mandatory. Reading this data manually from energy performance certificates proves to be very time-consuming, expensive and error-prone: Hundreds of, e.g., numerical values may have to be read out and written down without errors over a period of hours. In order to extract this data easily, quickly, cheaply and with high accuracy, DataScience Service GmbH (DSS), a real estate software company based in Vienna, Austria, has developed an application programming interface (API) that extracts all data of interest from EPCs automatically. Being able to make this data available quickly for a large number of properties opens up many possibilities for answering scientific and engineering questions in real estate economics, urban planning, energy & environmental science, and building physics, and also provides opportunities for developing practical applications in the real estate and energy industry. In this talk, we will provide a brief introduction to the API we developed for the Austrian market, which can be readily extended to support EPCs of other countries depending on market demand. |
| Keywords: | Energy Efficiency; Energy Performance Certificate; EPC; Machine Learning |
| JEL: | R3 |
| Date: | 2023–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2023_303&r=env |
| By: | - |
| Abstract: | This document is based on the statements and presentations delivered at the thirty-first General Assembly of the Forum of Ministers and High-Level Authorities on Housing and Urbanism in Latin America and the Caribbean (MINURVI), held on 5 and 6 December 2022 at ECLAC headquarters in Santiago. At the meeting, authorities, leaders and experts in housing and urban planning met with the aim of positioning habitat and housing as pillars for achieving sustainable urban development in the region and for working towards cities that are more just, inclusive and resilient. The General Assembly explored ideas related to the challenges, progress made and opportunities for creating cities that promote human rights and the right to the city, economic reactivation and the reduction of inequality and environmental impacts, as well as for rethinking the role of the State in achieving those objectives. The event was structured around four main themes: (i) the role of the State in the production of housing and urban development; (ii) funding and the land and housing markets; (iii) gender mainstreaming and care systems in inclusive cities; and (iv) the importance of sustainability and climate change in cities. These issues were explored in depth through panel sessions, presentations and exchanges at which authorities, technical experts, academics and representatives of civil society all participated. A ministerial dialogue was held on the second day of the meeting, during which the country that will chair MINURVI and the members who are to serve on its 2023 Executive Committee were elected. The Declaration of Santiago —the outcome document of the thirty-first General Assembly, containing the commitments assumed in pursuit of the region’s sustainable urban development— was also signed on that occasion. |
| Date: | 2023–11–02 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col043:68668&r=env |
| By: | Kwan Ok Lee; Hey Yeung |
| Abstract: | With the advent of the COVID-19 pandemic, many have raised the vitality of proper green space planning as the association between green spaces and public wellbeing became more obvious due to various mobility restrictions. In this paper, we examine how multidimensional factors of green spaces (i.e. quantity, quality and accessibility) are associated with public visits to green spaces and whether these factors influence the extent of benefits of green spaces to mental wellbeing. We perform comparative analyses between Singapore and Hong Kong, which present a significant difference in green space planning. A total of 298 surveys were conducted in Singapore and Hong Kong, with responses comprising green space usage, mental wellbeing, and socioeconomic information of respondents. Our analysis findings demonstrate that for their decision to visit green spaces, people are more sensitive to the green space dimension lacking in their local environment. For example, respondents in Singapore that features lower green space accessibly than Hong Kong are much more to this while Hongkong respondents were more sensitive to green space quality. We also find that respondents in Hong Kong have increased their visits to green spaces more significantly than Singaporean counterparts after the COVID-19 outbreak, and the association between this increase and enhanced mental wellbeing is more significant in Hong Kong. This provides an important implication that green space accessibility can play a more important role to mental wellbeing compared to the role of green space quality, especially when people restrict their mobility due to health concerns. |
| Keywords: | Comparative Analysis; COVID-19; green space; mental wellbeing |
| JEL: | R3 |
| Date: | 2023–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2023_87&r=env |
| By: | Alexandra Verlhiac; Marie Breuille; Julie Le Gallo; Sébastien Houde |
| Abstract: | In a world subject to a higher frequency of extreme climatic events, migration appears as one adaptation strategy for households, so that demand for housing will change. While a large literature analyzes cross-country migration mechanisms linked to climatic events in developing countries, or focuses on specific case-study events in both developed or developing countries, the literature remains scarce with respect to the impact of climate risks on household location decisions and internal migration. In this context, the goal of this paper is to determine the relationship between climate shocks and intra-country residential migration, for the case of France. We propose a response function that includes the nature of the climatic shocks combined with local geographical characteristics. Our empirical strategy exploits short-term extreme climatic events, such as floods or large fires, as information shocks that impact households’ beliefs. These shocks, combined with household-level panel data pertaining to housing search behavior, allows us to estimate how extreme climatic events (ECEs) shift household location decisions. In particular, we exploit a large database containing housing search for a specific household before and after a climate event on real estate online platforms in France. Specifically, we first use a database of listings consultations on SeLoger platform containing more than 16 Millions search observations. Second, we use a database of real estate estimations on the Meilleurs Agents platform containing more than 100 000 search observations. We combine these datasets with a dataset of climate-related extreme events and official risk maps. Both of these datasets are spatially disaggregated at the municipality level for the Metropolitan France. |
| Keywords: | Climate; Migration; Online Platform; real estate |
| JEL: | R3 |
| Date: | 2023–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2023_253&r=env |
| By: | Thomas Changeux (MIO - Institut méditerranéen d'océanologie - IRD - Institut de Recherche pour le Développement - AMU - Aix Marseille Université - INSU - CNRS - Institut national des sciences de l'Univers - UTLN - Université de Toulon - CNRS - Centre National de la Recherche Scientifique); Philippe Boisneau (CONAPPED - Comité National de la Pêche Professionnelle en Eau Douce); Nicolas Stolzenberg (CONAPPED - Comité National de la Pêche Professionnelle en Eau Douce); Chloé Goulon (CARRTEL - Centre Alpin de Recherche sur les Réseaux Trophiques et Ecosystèmes Limniques - USMB [Université de Savoie] [Université de Chambéry] - Université Savoie Mont Blanc - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | The large-scale production and economy of French freshwater fisheries is not documented in the scientific literature. This article fills this knowledge gap by synthesizing the data collected since the post-war period, including a large part of the grey literature. France presents a wide variety of surface waters, benefiting from a reduction in pollution and a growing population with an emphasis on leisure activities and on locally sourced food products. Despite this favorable geographical, ecological and human situation, French freshwater fisheries have been in decline since the mid-1970s with a chronically negative trade balance for aquatic products. During this period, numbers of commercial fishers have decreased three-fold due to their affiliation to an agricultural status, and to their dependence on migratory species such as eel, shad and lamprey, which are all in decline. Simultaneously, numbers of anglers have also seen a slow but continuous decline, cushioned somewhat in the last 10 years thanks to the creation of sub-annual fishing cards and the expansion of the total to include the younger classes. Vestiges of a non-commercial fishery, similar to recreational subsistence fishing and employing gear such as dip nets, traps, long lines or even gillnets, have been maintained in a much reduced state around large rivers as well as in the marshes and estuaries of the Atlantic coast. In this detailed study of these different categories of fishing practices in the mid-2010s, we estimate numbers of fishers at 2 million active anglers, 4000 subsistence fishers, and 400 commercial fishers. Their catches are roughly 7600, 200 and 1200 tonnes/year, respectively, for a total of 9000 tonnes/year. The major part of the overall economic worth, estimated at 980, 000 K€, is attributable to recreational fishers (anglers). |
| Keywords: | Inland Fisheries, Commercial fisheries, Recreational fisheries, Subsistence fisheries, Angler, Fishing effort, Catches, Economic importance |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04244953&r=env |
| By: | Mason, Michael; Akıncı, Zeynep Sıla; Bilgen, Arda; Nasir, Noori; Al-Rubaie, Azhar |
| Abstract: | This policy paper uses open-source software to examine surface water changes in the Euphrates-Tigris Basin from 1984–2015, focusing on Iraq – a downstream riparian state. The timeline captures the impact on Iraq of upstream dam construction, notably in Turkey and Iran, conflicts, and political transformations, and a period of protracted drought across the basin between 2007–18. Between 1984–2015, the area of permanent water in Iraq declined by a third, with greatest losses in the south. There was an 86 percent reduction in area of the Mesopotamian Marshes. In contrast, over the same period, the area of permanent water in Turkey increased by over a quarter. Mapping long-term changes in the occurrence and variability of surface water is a necessary step in achieving greater hydro-transparency; that is, the open availability of information on the movement, storage and management of water within and across state borders. Increased hydro-transparency, through the public provision of evidence-based information, can build trust between the riparian states (Turkey, Syria, Iraq and Iran), informing options for more sustainable, equitable and reasonable utilisation of basin flows. |
| JEL: | Q15 |
| Date: | 2023–10–26 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:120545&r=env |
| By: | Alkis Blanz; Beatriz Gaitan |
| Abstract: | In this paper, we compare different mitigation policies when housing investments are irreversible. We use a general equilibrium model with non-homothetic preferences and an elaborate setup of the residential housing and energy production sector. In the first-best transition, the energy demand plays only a secondary role. However, this changes when optimal carbon taxes are not available. While providing subsidies for retrofits results in the lowest direct costs for households, it ultimately leads to the highest aggregate costs and proves to be an ineffective way to decarbonize the economy. In the second-best context, a phased-in carbon price outperforms the subsidy-based transition. |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2310.15687&r=env |
| By: | Dennis Aldenhoff; Björn-Martin Kurzrock |
| Abstract: | Limited economic feasibility due to high investment costs and relatively small energy cost savings is seen as a major reason for low refurbishment rates of the building stock in many countries. Improving economic feasibility can therefore be essential to grow refurbishment rates. Carbon tax or funding grants are possible ways to achieve this. Furthermore, the cost-effectiveness of energy-efficient modernization depends on the necessity for refurbishment. If refurbishment measures are necessary, additional energy-efficient modernization can be carried out at comparatively low cost. Accordingly, modernizations are strongly dependent on the refurbishment cycle of the building. Based on a self-developed housing stock model for Germany, this paper presents a modeling approach to link the influence of the economic efficiency of modernizations on the modernization rate in the housing stock. This makes it possible to investigate the effects of adjustments to the economic framework (e.g., carbon tax or funding grants). This further allows the identification of target-oriented economic framework conditions for the transformation to a climate-neutral housing stock. The modeling results suggest that modernizing all existing buildings by 2045 would require unrealistically high economic incentives. In particular, the efficiency of pulling instruments such as funding grants decreases with the amount of funds used, since the share of funds allocated to those already willing to modernize increases steadily. Additionally, the economic obstacles would be particularly high for younger buildings, which have significantly lower energy savings potential, and for buildings that do not require refurbishment. Instead, the model is used to show how a successful transformation to a climate-neutral housing stock in Germany can be achieved with a mix of measures consisting of legal regulations and subsidies that address the current weak points. The results are also relevant to housing markets in Europe and beyond. |
| Keywords: | Carbon tax; climate goals; Energetic refurbishments; housing stock |
| JEL: | R3 |
| Date: | 2023–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2023_177&r=env |
| By: | Tenzing, Janna; Conway, Declan |
| Abstract: | Ethiopia’s flagship ‘Productive Safety Net Programme’ (PSNP) entered its fifth phase of implementation in 2021. After more than fifteen years, the Government reoriented the programme’s targeting of woredas (districts) with a history of food insecurity, to prioritising those experiencing ‘extreme poverty through shocks’ – particularly drought. In doing so, it has rebranded the PSNP as an ‘adaptive’ safety net. The focus of the ‘adaptive social protection’ policy agenda, however, extends beyond responding to biophysical risks associated with climate variability and change; it also seeks to address non-climatic, contextual factors underpinning relational vulnerability to climate change. This study asks whether the PSNP’s system of geographic targeting at the start of its fifth phase aligns with this more comprehensive framing of ‘adaptive social protection’. Using binary logit regression analysis, it assesses whether the PSNP-covered woredas are those most exposed to three major risks in the country: drought, flooding, and political conflict. We find that, controlling for poverty headcount rate and population density, PSNP coverage is positively associated with districts experiencing higher year-to-year drought conditions, yet woredas with higher multi-year drought variability are less likely to be covered. We find no relationship between PSNP coverage and exposure to flood risk, which is unevenly distributed across the country. Whilst the programme is currently well-targeted toward districts facing disproportionately high levels of political insecurity, this association disappears if the recent escalation of conflict beginning in 2020 is disregarded. As such, this study points to risks that PSNP administrators need to be more attentive to as they consider expanding the programme’s geographical footprint to become more ‘adaptive’. Doing so could better support the strengthening of PSNP participants’ long-term resilience to climate change. |
| JEL: | Q50 |
| Date: | 2023–08–07 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:120563&r=env |
| By: | Lelli, Chiara; Parisi, Laura; Heemskerk, Irene; Boldrini, Simone; Ceglar, Andrej |
| Abstract: | The loss of biodiversity and the degradation of natural ecosystems pose a significant threat to the broader economy and financial stability that central banks and financial supervisors cannot ignore. To gain further insights into the implications of nature and ecosystem service degradation for financial stability, this study assesses the dependencies of euro area non-financial corporations and banks on different ecosystem services. The study then develops a method to capture banks’ credit portfolio sensitivity to possible future changes in the provision of ecosystem services. Our results show that 75% of all corporate loan exposures in the euro area have a strong dependency on at least one ecosystem service. We also find that loan portfolios may be significantly affected if nature degradation continues its current trend, with greater vulnerabilities concentrated in certain regions and economic sectors. JEL Classification: C55, G21, G38, Q5 |
| Keywords: | biodiversity loss, economy, ENCORE, impact, input-output table, materiality score, nature degradation, nexus |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:ecb:ecbops:2023333&r=env |
| By: | Wang, Ruoyu; Cao, Mengqiu; Yao, Yao; Wu, Wenjie |
| Abstract: | Awareness is growing that the uneven provision of street urban green space (UGS) may lead to environmental injustice. Most previous studies have focused on the over-head perspective of street UGS provision. However, only a few studies have evaluated the disparities in visible street UGS provision. While a plethora of studies have focused on a single dimension of visible UGS provision, no previous studies have developed a framework for systematically evaluating visible street UGS provision. This study therefore proposes a novel 4 ‘A′ framework, and aims to assess different dimensions (namely: availability; accessibility; attractiveness; and aesthetics) of visible street UGS provision, using Beijing as a case study. It investigates inequities in different dimensions of visible street UGS provision. In addition, it also explores the extent to which a neighbourhood's economic level is associated with different dimensions of visible street UGS. Our results show that, in Beijing, the four chosen dimensions of visible street UGS provision significantly differ in terms of spatial distribution and the association between them. Furthermore, we found that the value of the Gini index and Moran's I index for attractiveness and aesthetics are higher than those for availability and accessibility, which indicates a more unequal distribution of visible street UGS from a qualitative perspective. We also found that a community's economic level is positively associated with attractiveness and aesthetics, while no evidence was found to support the claim that the economic level of a community associated with availability and accessibility. This study suggests that visible street UGS provision is unequal; therefore, urban planning policy should pay more attention to disparities in visible street UGS provision, particularly in urban areas. |
| Keywords: | 4 ‘A′ framework; Beijing; disparity; machine learning; street view data; visible street urban green space; 41971194 and 41801306 ; 52278085 |
| JEL: | C1 |
| Date: | 2022–12–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:117694&r=env |
| By: | Afia Malik (Pakistan Institute of Development Economics) |
| Abstract: | Coal contributes significantly to global energy supplies. In 2021, coal was the second-largest energy source consumed globally (Chart 1). Over the years, coal demand has increased substantially from 2.6 billion tons in 1980 to 5.5 billion tons in 2021 (Chart 2). Because of environmental concerns and the increasing trend towards renewables, its share declined in the United States and many European countries, decreasing global consumption in 2014 and onwards. But the trend reversed in 2020. It is because of the Russia-Ukraine war leading to the worldwide energy crisis that the demand for coal has increased. |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:pid:kbrief:2023:103&r=env |
| By: | Siq Huang; Anupam Nanda; Eero Valtonen |
| Abstract: | Research on ESG and real estate suggests that the industry can contribute to mitigating climate change by improving the “sustainability” of their property portfolio while also gaining better financial performance. However, the challenges of sustainable property investments (SPI) still exist due to the diffused causal chain between the high initial costs of investment and the resultant benefits in the long run. The aim of this study is to identify and model the impacts of SPI on the credit rating of Real Estate Investment Trusts (REITs), providing insight into the motivating factors that influence investors’ decisions to invest in properties with sustainability characters. The study was based on the panel data of 84 US equity REITs over 2014–2021. The regression analysis demonstrates a significant positive correlation between the sustainability of REITs’ property portfolio and their credit ratings, and that the advantages of SPI overshadow saving operational expenditures alone. The sub-period analysis also indicates that the marginal benefits of SPI may diminish over time, which, however, needs the support of further research. For robustness check, the type-year average of portfolio sustainability is used as an instrument variable in a two-stage model, and the results support previous findings. In short, this study supports the outlook that ESG-related investments are crucial parts of rating agencies’ assessment of REITs’ creditworthiness, and can enhance corporate financial performance through lowering firms’ debt financing costs. |
| Keywords: | Credit Rating; REITs; sustainability |
| JEL: | R3 |
| Date: | 2023–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2023_282&r=env |
| By: | Georgia Warren-Myers |
| Abstract: | Sustainable and energy efficient homes in Australia are much needed in the objective to meet carbon targets and create sustainable homes that can ensure a resilient future. Despite an extensive amount of research, market implementation has been slow due to a limited regulatory regime and limited engagement by home builders. Many builders claim consumers have little interest and are not willing to pay, despite a number of consumer studies finding the opposite. A possible barrier is the communication between consumers and builders about sustainability and energy efficiency. Consumers typically have limited understanding of the home building process per se, let alone understand the nuances of sustainability and energy efficiency considerations for a new home. Thus their trust is in the builder to provide them with the information needed and offer appropriate products. The question of the research is, what kind of information is available and what is the quality of the information provided, particularly through key communication channels like websites, blogs and social media? This research used content analysis techniques to investigate the online communication channels of 23 New South Wales (Australia) volume home builders initially in 2020 and again in 2022. The study found the level of content and its quality to be non-existent or quite low, leaving consumers to trust that simple assignations that the home is sustainable, without explanation as to how it is more sustainable or energy efficient. In the repeat analysis of 2022 the industry appeared to have retracted much of the limited sustainability and energy efficiency messaging across their online platforms. The research identified opportunities for the volume housing industry, to enhance their communication capabilities and provide meaningful information that may assist in generating the change required. |
| Keywords: | Communication; Construction; housing; sustainability |
| JEL: | R3 |
| Date: | 2023–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2023_34&r=env |
| By: | Maxime Dubart (Evo-Eco-Paléo (EEP) - Évolution, Écologie et Paléontologie (Evo-Eco-Paleo) - UMR 8198 - Université de Lille - CNRS - Centre National de la Recherche Scientifique); Pascal Alonso (UMR PHIM - Plant Health Institute of Montpellier - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - IRD - Institut de Recherche pour le Développement - UM - Université de Montpellier - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro - Montpellier SupAgro - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); Didac Barroso-Bergadà (Agroécologie [Dijon] - UB - Université de Bourgogne - AgroSup Dijon - Institut National Supérieur des Sciences Agronomiques, de l'Alimentation et de l'Environnement - UBFC - Université Bourgogne Franche-Comté [COMUE] - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); N. Becker (ISYEB - Institut de Systématique, Evolution, Biodiversité - MNHN - Muséum national d'Histoire naturelle - EPHE - École Pratique des Hautes Études - PSL - Université Paris sciences et lettres - SU - Sorbonne Université - CNRS - Centre National de la Recherche Scientifique - UA - Université des Antilles); Kevine Bethune (CEFE - Centre d’Ecologie Fonctionnelle et Evolutive - UPVM - Université Paul-Valéry - Montpellier 3 - EPHE - École Pratique des Hautes Études - PSL - Université Paris sciences et lettres - UM - Université de Montpellier - CNRS - Centre National de la Recherche Scientifique - IRD [France-Sud] - Institut de Recherche pour le Développement - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro - Montpellier SupAgro - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); David Bohan (Agroécologie [Dijon] - UB - Université de Bourgogne - AgroSup Dijon - Institut National Supérieur des Sciences Agronomiques, de l'Alimentation et de l'Environnement - UBFC - Université Bourgogne Franche-Comté [COMUE] - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Christophe Boury (BioGeCo - Biodiversité, Gènes & Communautés - UB - Université de Bordeaux - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Marine Cambon (BioGeCo - Biodiversité, Gènes & Communautés - UB - Université de Bordeaux - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, Bangor University); Elsa Canard (IGEPP - Institut de Génétique, Environnement et Protection des Plantes - UR - Université de Rennes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - INSTITUT AGRO Agrocampus Ouest - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); Emilie Chancerel (BioGeCo - Biodiversité, Gènes & Communautés - UB - Université de Bordeaux - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Julien Chiquet (MIA Paris-Saclay - Mathématiques et Informatique Appliquées - AgroParisTech - Université Paris-Saclay - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Patrice David (CEFE - Centre d’Ecologie Fonctionnelle et Evolutive - UPVM - Université Paul-Valéry - Montpellier 3 - EPHE - École Pratique des Hautes Études - PSL - Université Paris sciences et lettres - UM - Université de Montpellier - CNRS - Centre National de la Recherche Scientifique - IRD [France-Sud] - Institut de Recherche pour le Développement - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro - Montpellier SupAgro - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); Natasha de Manincor (Evo-Eco-Paléo (EEP) - Évolution, Écologie et Paléontologie (Evo-Eco-Paleo) - UMR 8198 - Université de Lille - CNRS - Centre National de la Recherche Scientifique, UC Riverside - University of California [Riverside] - UC - University of California); Sophie Donnet (MIA Paris-Saclay - Mathématiques et Informatique Appliquées - AgroParisTech - Université Paris-Saclay - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Anne Duputié (Evo-Eco-Paléo (EEP) - Évolution, Écologie et Paléontologie (Evo-Eco-Paleo) - UMR 8198 - Université de Lille - CNRS - Centre National de la Recherche Scientifique); Benoit Facon (UMR PVBMT - Peuplements végétaux et bioagresseurs en milieu tropical - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - IRD - Institut de Recherche pour le Développement - UR - Université de La Réunion - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, UMR CBGP - Centre de Biologie pour la Gestion des Populations - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - INRA - Institut National de la Recherche Agronomique - Montpellier SupAgro - Centre international d'études supérieures en sciences agronomiques - UM - Université de Montpellier - IRD [France-Sud] - Institut de Recherche pour le Développement - Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier); Erwan Guichoux (BioGeCo - Biodiversité, Gènes & Communautés - UB - Université de Bordeaux - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Tâm Le Minh (MIA Paris-Saclay - Mathématiques et Informatique Appliquées - AgroParisTech - Université Paris-Saclay - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Sebastián Ortiz-Martínez (IGEPP - Institut de Génétique, Environnement et Protection des Plantes - UR - Université de Rennes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - INSTITUT AGRO Agrocampus Ouest - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); Lucie Piouceau (BioGeCo - Biodiversité, Gènes & Communautés - UB - Université de Bordeaux - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Ambre Sacco-Martret de Préville (IGEPP - Institut de Génétique, Environnement et Protection des Plantes - UR - Université de Rennes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - INSTITUT AGRO Agrocampus Ouest - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); Manuel Plantegenest (IGEPP - Institut de Génétique, Environnement et Protection des Plantes - UR - Université de Rennes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - INSTITUT AGRO Agrocampus Ouest - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); Céline Poux (Evo-Eco-Paléo (EEP) - Évolution, Écologie et Paléontologie (Evo-Eco-Paleo) - UMR 8198 - Université de Lille - CNRS - Centre National de la Recherche Scientifique); Virginie Ravigné (ISYEB - Institut de Systématique, Evolution, Biodiversité - MNHN - Muséum national d'Histoire naturelle - EPHE - École Pratique des Hautes Études - PSL - Université Paris sciences et lettres - SU - Sorbonne Université - CNRS - Centre National de la Recherche Scientifique - UA - Université des Antilles, UMR PVBMT - Peuplements végétaux et bioagresseurs en milieu tropical - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - IRD - Institut de Recherche pour le Développement - UR - Université de La Réunion - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, Cirad-BIOS - Département Systèmes Biologiques - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement); Stéphane Robin (MIA Paris-Saclay - Mathématiques et Informatique Appliquées - AgroParisTech - Université Paris-Saclay - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, LPSM (UMR_8001) - Laboratoire de Probabilités, Statistique et Modélisation - SU - Sorbonne Université - CNRS - Centre National de la Recherche Scientifique - UPCité - Université Paris Cité); Marine Trillat (BioGeCo - Biodiversité, Gènes & Communautés - UB - Université de Bordeaux - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Corinne Vacher (BioGeCo - Biodiversité, Gènes & Communautés - UB - Université de Bordeaux - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Christian Vernière (UMR PHIM - Plant Health Institute of Montpellier - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - IRD - Institut de Recherche pour le Développement - UM - Université de Montpellier - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro - Montpellier SupAgro - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement, Cirad-BIOS - Département Systèmes Biologiques - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement); François Massol (CIIL - Centre d’Infection et d’Immunité de Lille - INSERM U 1019 - UMR 9017 - UMR 8204 - Institut Pasteur de Lille - RIIP - Réseau International des Instituts Pasteur - INSERM - Institut National de la Santé et de la Recherche Médicale - Université de Lille - CHRU Lille - Centre Hospitalier Régional Universitaire [Lille] - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Biomonitoring ecosystems is necessary in order to evaluate risks and to efficiently manage ecosystems and their associated services. Agrosystems are the target of multiple stressors that can affect many species through effects cascading along food webs. However, classic biomonitoring, focused on species diversity or indicator species, might be a poor predictor of the risk of such whole-ecosystem perturbations. Thanks to high-throughput sequencing methods, however, it might be possible to obtain sufficient information about entire ecological communities to infer the functioning of their associated interaction networks, and thus monitor more closely the risk of the collapse of entire food webs due to external stressors. In the course of the ‘next-generation biomonitoring' project, we collectively sought to experiment with this idea of inferring ecological networks on the basis of metabarcoding information gathered on different systems. We here give an overview of issues and preliminary results associated with this endeavour and highlight the main difficulties that such next-generation biomonitoring is still facing. Going from sampling protocols up to methods for comparing inferred networks, through biomolecular, bioinformatic, and network inference, we review all steps of the process, with a view towards generality and transferability towards other systems. |
| Keywords: | Ecological networks, eDNA, High throughput sequencing, Logic-based machine learning, Microbiomes, Network inference, Next-generation biomonitoring, Next-generation sequencing |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03634351&r=env |
| By: | Mr. Serhan Cevik; João Tovar Jalles |
| Abstract: | Natural disasters are inevitable, but humanitarian and economic losses are determined largely by policy preferences and institutional underpinnings that shape the quality of public infrastructure (including emergency responses and healthcare services) and govern business practices and the adherence to building codes. In this paper, we empirically investigate whether corruption increases the loss of human lives caused by natural disasters, using a large panel of 135 countries during the period 1980–2020. The econometric analysis provides convincing evidence that corruption increases the number of disaster-related deaths, after controlling for economic, demographic, healthcare and institutional factors. That is, the higher the level of corruption in a given country, the greater the number of fatalities as a share of population due to natural disasters. Our results show that the devastating impact of corruption on loss of human lives caused by natural disasters is significantly greater in developing countries, which are even more vulnerable to nonlinear effects of corruption. |
| Keywords: | Corruption; institutions; natural disasters; fatalities |
| Date: | 2023–10–27 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:2023/220&r=env |
| By: | Brandtjen, Roland |
| Abstract: | In Varietate Concordia - United in diversity, the motto of the European Union is often mentioned by some politicians and in EU-related literature. However, one wonders what this motto actually means for the EU and how it is implemented in reality. To this end, the terminology of the motto is first examined due to the multilingualism of the EU. Differences between diversity and variety as well as between united and harmonized are examined in more detail. This paper attempts to examine and fill a scientific gap on this topic by means of an adapted SPELIT analysis, the PLISE method. For the most part, the specialist literature is consulted. On the topic of the social environment, quantitative results of a survey in German Länder, Spanish Autonomous Communities, French and Italian regions, and the countries of the United Kingdom plus Cornwall are displayed. Finally, after the concluding section and the bibliography, the official translation of the motto into 73 official, co-official, recognised and minority languages is listed in the appendix. |
| Keywords: | United in diversity, European Union, SPELIT / PLISE, Blue Banana, Harmonization |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:iubhbm:279539&r=env |
| By: | Franz Fuerst; Xinyan Huang |
| Abstract: | This study details the findings of a study that seeks to establish how minimum energy efficiency standards have affected the domestic private rental sector using data from England and Wales. The research questions studied mainly concern rent affordability both in the general market as well as above and below the energy efficiency thresholds for legally renting out space under the new regulations. The present study also estimates the effect the policy has had on the attractiveness of investing into rental properties relative to other asset classes and the owner-occupied property market segment. The main findings are: Rents of F/G rated properties were lower before and after MEES implementation compared to higher EPC grades which is in line with previous research During the implementation period, an additional rental discount to properties in the F/G band can be detected with increasing magnitude over time. Above-threshold properties in the EPC E band and/or D show a moderate rent increase in response to MEES No signs of a significant sell-off of properties from the private rental sector into the policy-neutral owner-occupied market segment are detected. The main finding is hence that substandard energy efficiency as indicated by an F or G EPC rating has become significantly lower over time and the evidence suggests that the introduction of MEES has contributed to this trend. Although causal inference is complicated by the staggered introduction of standards which does not permit a clear separation between a pre and post MEES period, it appears that government intervention aimed at upgrading lowest EE has at least supported and augmented a trend towards higher energy efficiency, even if this upgrading process may not have been entirely due to this policy instrument. Concerns about MEES impacting negatively on rental affordability are not supported by the present analysis although some moderate uplifts are found for D/E-rated properties and further research will seek to corroborate these first findings. |
| Keywords: | Affordable Housing; climate change policy; housing market policy; Private Rental Market |
| JEL: | R3 |
| Date: | 2023–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2023_340&r=env |
| By: | Marinho, María Luisa; Dahuabe, Antonia; Arenas de Mesa, Alberto |
| Abstract: | La salud es central para el desarrollo social inclusivo, el desarrollo económico y la sostenibilidad ambiental, tal como ha quedado en evidencia a través de experiencia de la pandemia de COVID-19. A pesar de su centralidad y los avances experimentados en las últimas décadas, se observa una profunda desigualdad en América Latina y el Caribe, tanto entre los países como en su interior, marcada por una desigual distribución de los determinantes sociales de la salud según los ejes estructurantes de la matriz de desigualdad social. Ante ello, el llamado es a fortalecer la estrategia de Atención Primaria de Salud dada su contribución a reducir la pobreza y las desigualdades de la región a través de su acción sobre los determinantes sociales de la salud y la articulación con los sistemas de protección social, así como por su capacidad para enfrentar las problemáticas de los sistemas sanitarios y alcanzar mejores resultados en salud. Junto a ello, es central implementar transformaciones a los sistemas de salud que permitan avanzar hacia la universalidad, integralidad, sostenibilidad y resiliencia, para lo cual es fundamental abordar las diversas dimensiones relacionadas con las reformas que posibilitan su éxito y así avanzar de manera decisiva hacia el desarrollo social inclusivo y sostenible, sin dejar a nadie atrás. |
| Date: | 2023–09–27 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col041:68552&r=env |