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on Environmental Economics |
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Issue of 2024‒02‒05
eighty-one papers chosen by Francisco S. Ramos, Universidade Federal de Pernambuco |
| By: | Bustamante, Maria Cecilia; Zucchi, Francesca |
| Abstract: | The control of carbon emissions by policymakers poses the corporate challenge of developing an optimal carbon management policy. We provide a unified model that characterizes how firms should optimally manage emissions through production, green investment, and the trading of carbon credits. We show that carbon pricing reduces firms’ emissions but also induces firms to tilt towards more immediate yet transient types of green investment—such as abatement as opposed to innovation—as it becomes costlier to comply. Green innovation subsidies mitigate this effect and complement carbon pricing in ensuring innovation-driven sustainability. Perhaps surprisingly, we show that carbon regulation need not reduce firm value. JEL Classification: G30, G31, G12, D62, O33 |
| Keywords: | carbon abatement, carbon emissions, Carbon pricing, green innovation, sustainability |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:ecb:ecbwps:20242885&r=env |
| By: | Liam Welsh; Sebastian Jaimungal |
| Abstract: | In response to the global climate crisis, governments worldwide are introducing legislation to reduce greenhouse gas (GHG) emissions to help mitigate environmental catastrophes. One method to encourage emission reductions is to incentivize carbon capturing and carbon reducing projects while simultaneously penalising excess GHG output. Firms that invest in carbon capturing projects or reduce their emissions can receive offset credits (OCs) in return. These OCs can be used for regulatory purposes to offset their excess emissions in a compliance period. OCs may also be traded between firms. Thus, firms have the choice between investing in projects to generate OCs or to trade OCs. In this work, we present a novel market framework and characterise the optimal behaviour of GHG OC market participants in both single-player and two-player settings. We analyse both a single-period and multi-period setting. As the market model does not elicit a closed form solution, we develop a numerical methodology to estimate players' optimal behaviours in accordance to the Nash equilibria. Our findings indicate the actions players take are dependent on the scale of their project opportunities as well as their fellow market participants. We demonstrate the importance of behaving optimally via simulations in order to offset emission penalties and the importance of investing in GHG reducing or capturing projects from a financial perspective. |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2401.01427&r=env |
| By: | Robinson, Kelly; Baker, Erin; Ewing, Elizabeth; Hemming, Victoria; Kenney, Melissa; Runge, Michael C |
| Abstract: | Decision analysis provides a robust framework for complex decisions related to environmental sustainability and conservation, including for energy and water, fisheries and wildlife management, agriculture, and climate change response. The complexities of these problems stem from their large scope and scale, which leads to multiple decision makers, stakeholders, rightsholders, and other entities with potentially competing objectives. These problems often are time limited (e.g., urgent action is required to prevent species’ extinction), involve management interventions over long time scales and delayed responses to management (deep uncertainty), and are impeded by limited resources (funding, capacity, etc.). In this Special Issue on “Decision Analysis to Advance Environmental Sustainability, ” we present five case studies of applications of decision analysis to complex problems in environmental sustainability and conservation. These case studies incorporate multiple objectives related to ecological and environmental sustainability, economic and social concerns, and logistics of implementation. They showcase a wide range of tools and applications to these problems. We also provide suggestions for new avenues of research and application of decision analysis to problems of environmental sustainability and conservation, including how to incorporate other decision-making tools into decision analysis processes, how to broaden the reach of decision analysis to other sustainability problems, how to incorporate more stakeholders and rightsholders into the decision process, the potential to incorporate new technology into these processes, identifying more creative alternatives, how to secure more funding, ways to move from decision to action, and how to move beyond status quo to make big transitions necessary to achieve sustainability. |
| Date: | 2023–12–12 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:qxcaj&r=env |
| By: | Gilles Lafforgue (TSE-R - Toulouse School of Economics - UT Capitole - Université Toulouse Capitole - UT - Université de Toulouse - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Etienne Lorang (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, Université Paris Dauphine-PSL - PSL - Université Paris sciences et lettres) |
| Abstract: | This paper investigates the recycling opportunities of an industrial sector constrained by resource, climate, and waste capacities. To do this, we model the full lifecycle of a good to consider the waste and greenhouse gas (GHG) emissions coming from both its production — from virgin or recycled materials — and consumption. We identify the optimal trajectories of resources use, mainly depending on the relative scarcity of the resources and on their emissions. Although recycling is usually, and correctly, noted as an opportunity to reduce the impact of consumption on primary resources and waste, we also consider the possible negative environmental consequences of recycling and we discuss the resulting arbitrations. We characterize the optimal recycling strategy and we show that, in some cases, the recycling rate through time is an inverted U-shape, and there can be a catch-up phase of consumption at the end of the social planner program. Finally, we discuss the policy implications of our model by identifying and analyzing the set of optimal tax-subsidy schemes, and we highlight the existence of standard environmental externalities as well as a positive externality linked to the absence of a market for waste. |
| Keywords: | Recycling, Resource extraction, Waste, GHG emissions |
| Date: | 2022–02 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03542512&r=env |
| By: | Dirk Broeders; Marleen de Jonge; David Rijsbergen |
| Abstract: | We document a positive and statistically significant carbon premium that investors demand for investing in bonds issued by high carbon-emitting firms in the euro area. Over the entire sample period, we estimate that doubling a firm’s Scope 1 and 2 emissions results in an average increase of 6.6 basis points in the spread on the firm’s issued bonds. In addition, we find that the carbon premium has increased since 2020 and the effect reached 13.9 basis points by early 2022. These results suggest that European companies with high levels of carbon emissions are experiencing progressively higher financing costs. Our research also reveals a distinctive carbon premium term structure, rising with longer maturities. Interestingly, over time the term structure flat tens, suggesting investors’ confident anticipation of ongoing carbon pricing in the European Union at a stable pace. |
| Keywords: | Carbon Premium; Carbon Premium Term Structure; Climate Change; Climate Transition Risk |
| JEL: | G12 G15 G23 Q51 Q54 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:dnb:dnbwpp:798&r=env |
| By: | Martijn A. Boermans; Maurice Bun; Yasmine van der Straten |
| Abstract: | We study whether climate transition risk is priced in corporate bond markets. We assess whether corporate bond investors value companies’ efforts to mitigate climate change by innovating in the green space. By combining global firm-level data on greenhouse emissions and green patents with bond-level holdings data, we provide evidence of a positive transition risk premium, which is significantly lower for emission intensive companies that engage in green innovation. The joint effect of emission intensity and green innovation on bond yield spreads is driven by European investors, specifically institutional investors. Overall, our results indicate that investors care about whether companies are ‘fit’ for the green transition. |
| Keywords: | Climate Change; Climate Transition Risk; Carbon Premium; Greenium; Green Innovation; Green Patents; Institutional Investors; Institutional Ownership |
| JEL: | G12 G15 G23 Q51 Q54 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:dnb:dnbwpp:797&r=env |
| By: | Roncalli, Thierry |
| Abstract: | This handbook in Sustainable Finance corresponds to the lecture notes of the course given at University Paris-Saclay, ENSAE, Sorbonne University and Paris Cité University. It covers the following chapters: 1. Introduction, 2. ESG Scoring, 3. Financial Performance of ESG Investing, 4. Sustainable Financial Products, 5. Impact Investing, 6. Voting Policy & Engagement, 7. Extra-financial Accounting, 8. Economic Modeling of Climate Change, 9. Climate Risk Measures, 10. Transition Risk Modeling, 11. Portfolio Optimization, 12. Physical Risk Modeling, 13. Climate Stress Testing, 14. Conclusion, 15. Appendix A Technical Appendix, 16. Appendix B Solutions to the Tutorial Exercises. |
| Keywords: | Sustainable finance, ESG investing, climate risk |
| JEL: | G1 Q5 |
| Date: | 2024–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:119642&r=env |
| By: | Többen, Johannes; Banning, Maximilian; Hembach-Stunden, Katharina; Stöver, Britta; Ulrich, Philip; Schwab, Thomas |
| Abstract: | The European Green Deal mandates a substantial transformation of the energy sector, responsible for more than 80 % of total greenhouse gas emissions. This study investigates the economic implica-tions of achieving climate neutrality in the European energy sector in light of the EU's core goal of economic cohesion, i.e. harmonious economic development across European regions. Employing a novel multi-regional input-output model, our analysis reveals how the renewable energy transition affects European regions. Under complete decarbonisation, changes in value added per capita range from -2, 450 Euro to +1, 570 Euro, and employment levels fluctuate between -2.1 % and +4.9 %. On average, most regions experience positive effects, characterised by an average increase in value added per capita of 10 Euro and a 0.3 % rise in employment in 2050. Overall, rural regions with sub-stantial renewable energy potential derive the greatest benefits, while urban regions heavily reliant on carbon-intensive industries are more likely to experience adverse effects. This dynamic fosters economic cohesion by providing opportunities for lagging regions to catch up, yet also poses fresh challenges to achieving this goal. Therefore, cohesion policy must expand its scope to counter the adverse effects as well as leveraging opportunities created by the renewable energy transition in all European regions. |
| Keywords: | energy, transition, cohesion, inequality, regions |
| JEL: | C67 O11 Q43 |
| Date: | 2023–12–05 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:119374&r=env |
| By: | Mehling, M. A. |
| Abstract: | Climate policy ambition lags behind committed decarbonization targets, due in large measure to the unfavorable political economy of climate policies that require a reduction in emissions or increase their cost, such as phase-out mandates or carbon pricing. This paper describes a policy innovation, supply-side crediting, that can improve the political economy of climate action, catalyze innovation, and contribute to the objective of a just transition. By creating a revenue stream for the decommissioning of fossil fuel reserves, supply-side crediting alters the incentive structure and generates political buy-in from key stakeholders in the energy economy. Revenue from supply-side crediting can scale up climate finance and accelerate the commercialization of necessary low-carbon solutions, such as carbon dioxide removal technologies. Through various impact channels, supply-side crediting can help overcome resistance against climate policy ambition and address socioeconomic impacts of the energy transition. Over time, supply-side crediting can thus unlock a virtuous sequence that enables increased viability of demand-side carbon constraints such as carbon pricing. |
| Keywords: | Supply-side approaches, fossil fuels, offset credits, political economy |
| JEL: | H23 O30 P18 Q54 |
| Date: | 2023–12–29 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:2346&r=env |
| By: | Mehling, M. A. |
| Abstract: | Two types of spillover effects influence progress towards decarbonization: greenhouse gas emissions leakage as well as low-carbon technology innovation and diffusion. Emissions leakage caused by uneven imposition of carbon constraints limits their climate benefits, undermines political support, and gives rise to equity concerns. Solutions to address emissions leakage, meanwhile, are incompatible with global decarbonization or face serious implementation challenges. Diffusion of low -carbon technology averts emissions leakage, but depends on scaled up investment in research, development and deployment to drive down technology cost. Supply-side crediting can address both spillover effects, reducing emissions leakage by increasing global fossil fuel prices, and generating revenue for investment in lowcarbon technologies to accelerate their diffusion and further limit emissions leakage. |
| Keywords: | Climate change, spillover effects, emissions leakage, supply-side approaches, technology, offset credits |
| JEL: | H23 K33 O30 Q54 |
| Date: | 2023–12–29 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:2345&r=env |
| By: | Toba, N.; Jamasb, T.; Maurer, L.; Sen, A. |
| Abstract: | Auctions are an increasingly popular means of competitively promoting and procuring renewable energy to meet energy, social, and climate change objectives. To succeed, the technology designs need to accommodate technological progress, declining costs, and increasing Environmental, Social and Governance (ESG) demand. This analysis examines international experiences with large-scale solar photovoltaic (PV) and battery energy storage systems (BESS) auctions, which may be useful for East and Southeast Asia. It revisits auctions' theoretical and conceptual frameworks while concentrating on the ESG aspect from the perspective of such key stakeholders as investors, government, bidders, and communities, regarding efficient allocations of risks, costs, and benefits. It then relates this framework to real-world practices and international evidence on solar PV with and without BESS. The analysis shows that integrating ESG in auction designs and business models is possible and can benefit business and sustainable development. This analysis’ focus on the ESG and solar PV plus BESS in auctions contribute are nearly non-existent in the existing academic literature according to the review by del Río and Kiefer (2023). |
| Keywords: | Renewable energy, solar power, battery storage, auction design |
| JEL: | D0 D4 D8 L0 L1 L9 |
| Date: | 2023–12–29 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:2344&r=env |
| By: | Lee, J.; Reiner, D. M. |
| Abstract: | We empirically derive the determinants of British public preferences for different low-carbon energy sources using machine learning algorithm-based variable selection methods (ridge, lasso, and elastic net regression models). We seek to understand the drivers of support for solar, wind, biomass, and nuclear energy, which are the largest low-carbon energy sources and together account for the majority of UK power generation. Explanatory variables examined include those related to demographics, knowledge, perceptions of climate change, and government policy. We carry out a comparative study by synthesising the results of our independent analyses for each energy source and find that the preferred energy sources vary with respondents’ views on anticipated climate change impacts. Those who believe that potential effects of climate change will be catastrophic tend to prefer renewable energy sources whereas those less concerned about climate change tend to prefer nuclear power. The public also prefer energy sources about which they are more familiar or knowledgeable. |
| Keywords: | low carbon energy, variable selection models, energy mix, public trust, climate change perceptions, nuclear power, renewables |
| JEL: | B4 C5 P48 Q42 |
| Date: | 2023–12–29 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:2320&r=env |
| By: | Lu; Pollitt, M. G.; Wang, K.; Wei, Y-M. |
| Abstract: | China has adopted the carbon emissions trading system (ETS) due to its advantages on efficiency and cost grounds. Prior to the national carbon market, China operated seven ETS pilots as experiments for eight years in addition to the existing Energy Conservation and Carbon Abatement Target Responsibility System (ECCA-TRS) in order to accumulate experience with carbon markets. However, the incremental effects of these pilots are unclear so far. Here, we show that the ETS pilots have produced no additional carbon abatement effect or abatement cost-saving effect, while ECCA-TRS contributed primarily to the relative decline in CO2 emissions and absolute decline in CO2 intensity of covered industries in pilot regions. A binding target is necessary to permit ETS to act as the backstop emissions constraint. Adjusting local governments' abatement achievement using the buy-in and sell-out of carbon allowances can allow the ECCA-TRS and ETS to act as well-integrated instruments. |
| Keywords: | Carbon Emissions Trading Scheme, Target responsibility system, Policy evaluation, Triple difference-in-differences |
| JEL: | Q54 L94 |
| Date: | 2023–12–29 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:2349&r=env |
| By: | Dullabh, Nitesh |
| Abstract: | An alignment between country-led ESG indicators and industry materiality assessment topics that coincide with MNEs' specific ESG-related indicators drive impactful, sustainable FDI. This Perspective suggests the creation of country and industry materiality assessments to promote sustainable FDI through an environmental, social, and governance (ESG) lens. |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:colfdi:281037&r=env |
| By: | Hansen, Gerrit |
| Abstract: | The upcoming United Nations Climate Change Conference in Dubai (COP28) will see a new round of battle regarding the call to phase out fossil fuels. Intense debates have taken place in Germany and the European Union (EU) to determine positions in the run-up to the conference. The main point of contention is whether to call for a complete global phase-out of all fossil fuels or only for a phase-down of their unabated use, that is, without additional abatement measures such as carbon capture and storage (CCS). The role of abated fossil fuels in a net-zero economy is very controversial. In the long run, it will depend on several factors, including the effective deployment and scale-up of CCS, the capture rates achieved therein and the availability of carbon dioxide removal (CDR) technologies to address residual emissions. CCS is unlikely to make a significant contribution to urgently needed greenhouse gas reductions in the power sector by 2030. Whether the decision in Dubai will deliver a credible signal to rapidly reduce fossil fuel emissions depends in no small part on a precise, science-based definition of the scale of emission reductions required for fossil fuels to be considered as abated in line with the temperature goal of the Paris Agreement. |
| Keywords: | United Nations Climate Change Conference in Dubai 2023 (COP28), Intergovernmental Panel on Climate Change (IPCC), global CO2 emissions, net zero, climate crisis, European Union (EU), Carbon Capture and Storage (CCS), Carbon Dioxide Removal (CDR), UNFCCC, coal, oil, gas, Global Stocktake (GST) |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:swpcom:281027&r=env |
| By: | Economou, George; Halkos, George |
| Abstract: | Natural resources provide ecosystem services to humans and society. Economic sectors use natural resources for economic benefits. Intense and uncontrolled economic activities and human intervention create adverse effects on the balance between all pillars of sustainability, namely the economy, environment, and society. In this context, researchers investigate potential causalities to provide inputs and insights into relevant decision-making processes and structure effective, applicable, and long-lasting plans and policies. These policies highlight the role of energy efficiency by accelerating the replacement of fossil fuels with renewables and minimizing greenhouse and carbon dioxide emissions. The Environmental Kuznets Curve (EKC) hypothesis and the energy growth nexus discussion offer research fields to determine whether growth creates environmental degradation or whether energy drives economic growth. Both approaches can be used under different methodological approaches using various indicators, groups of countries, and thematic fields. Research findings should accompany relevant practical implications for the business world and everyday life. These implications are expected to advance responsible consumptive behavior, the use of technological advancement, and a sustainability culture concerning households, organizations, and consumers. The key target is to bring a better future closer to our reality. |
| Keywords: | Environment; energy; economy; sustainability. |
| JEL: | Q01 Q40 Q50 Q56 Q58 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:119780&r=env |
| By: | Klaus Gugler (Department of Economics, Vienna University of Economics and Business); Florian Szücs (Department of Economics, Vienna University of Economics and Business); Thomas Wiedenhofer (Department of Economics, Vienna University of Economics and Business) |
| Abstract: | This article evaluates if and to which extent policy can steer innovation towards eco-friendly technologies. We construct a cross-country dataset on sectoral green innovation and complement it with data on policies designed to address environmental market failures: environmental taxes, regulation, and R&D subsidies. While all of these tools exert a positive effect on green innovation, our IV estimates reveal substantial heterogeneities across policies. Overall, green innovation reacts most strongly to R&D subsidies for renewables, but interaction effects between different policies need to be considered. |
| Keywords: | climate change, environmental policies, directed technological change, green patents, regulation, taxes, R&D |
| JEL: | Q54 Q55 Q58 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwwuw:wuwp355&r=env |
| By: | Francisco Estrada; Veronica Lupi; Wouter Botzen; Richard S. J. Tol |
| Abstract: | The social cost of carbon (SCC) serves as a concise gauge of climate change's economic impact, often reported at the global and country level. SCC values are disproportionately high for less-developed, populous countries. Assessing the contributions of urban and non-urban areas to the SCC can provide additional insights for climate policy. Cities are essential for defining global emissions, influencing warming levels and associated damages. High exposure and concurrent socioenvironmental problems exacerbate climate change risks in cities. Using a spatially explicit integrated assessment model, the SCC is estimated at USD$137-USD$579/tCO2, rising to USD$262-USD$1, 075/tCO2 when including urban heat island (UHI) warming. Urban SCC dominates, with both urban exposure and the UHI contributing significantly. A permanent 1% reduction of the UHI in urban areas yields net present benefits of USD$484-USD$1, 562 per urban dweller. Global cities have significant leverage and incentives for a swift transition to a low-carbon economy, and for reducing local warming. |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2401.00919&r=env |
| By: | Sivakumar, Marimuthu |
| Abstract: | India is a large developing country of 1.2 billion people, that is, nearly 17 percent of the world's population. A large proportion of this population continues to live in rural areas and depends heavily on agriculture and forestry for its livelihood which is needed the green healthy environment and climate. India's geography and climate are as varied as the country. The Himalayas mark the northern boundaries, the Thar Desert the Western, a 7500 km densely populated coastline along the peninsula, and a heavily monsoon-dependent economy, all make India vulnerable to the effects of climate change. Area of dry land would increase by 11 per cent in the coming years due to climate change. 1.8 billion People would live in countries with absolute water scarcity and the hardest hit would be the rain-fed agriculture which covers 96 per cent of all cultivated land in Sub-Sahara Africa, 87 per cent in South America and 61 per cent in Asia, and the climate variability would aggravate loss of land productivity. Recognising that climate change is global challenge, India is ¬actively engaging in multilateral negotiation in the UN Framework Convention on Climate Change, in a positive, constructive and forward- looking manner. In this perspective India launched a National Action Plan on Climate Change in 2008. |
| Keywords: | India- Climate Change- Action Plan- Green Economy- National Mission for Green India |
| JEL: | Q50 Q54 Q57 Q58 |
| Date: | 2023–12–27 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:119591&r=env |
| By: | Antonio Sileo (Fondazione Eni Enrico Mattei); Monica Bonacina (Fondazione Eni Enrico Mattei) |
| Abstract: | This paper studies the effects of the latest European regulations on carbon emissions on the Italian car market and discusses the possibility of achieving climate neutrality of road transport through the “mere” replacement of cars currently on the road with new zero-emission cars. Since 2016, automakers’ production strategies have changed dramatically, with an increasing number of zero (and low) emission models on car lists. To date, these changes on the supply side have not been matched by similar changes in purchasing habits. In recent years, not only have few zero (and low) emission cars been sold, but also few new cars. Unless epoch-making changes occur, it is completely unrealistic to think that we can achieve climate neutrality by 2050 by leveraging exclusively on the renewal of the fleet. |
| Keywords: | automotive market, sustainable mobility, road transport decarbonization, electro-mobility, EU-car CO2 regulation |
| JEL: | L62 Q55 Q58 R41 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:fem:femwpa:2024.01&r=env |
| By: | Craig Johnston; Geneviève Vallée; Hossein Hosseini Jebeli; Brett Lindsay; Miguel Molico; Marie-Christine Tremblay; Aidan Witts |
| Abstract: | We assess the potential financial risks of current and projected flooding caused by extreme weather events in Canada. We focus on the residential real estate secured lending (RESL) portfolios of Canadian financial institutions (FIs) because RESL portfolios are an important component of FIs’ balance sheets and because the assets used to secure such loans are immobile and susceptible to climate-related extreme weather events. We build a loan-level dataset from the residential RESL portfolios of some federally and provincially regulated FIs. We use current and projected flood events under different climate scenarios to apply shocks to these portfolios. We then control for private flood insurance using data from a variety of property and casualty insurers based in Canada. We find that the direct damages of flooding have modest impacts on the FIs’ loss given default on their residential RESL portfolios. This is partly due to rising homeowner equity and the recent rapid increase in house prices across Canada. Nevertheless, some risk channels have emerged. Notably, the combined influence of high household leverage and lending in flood zones can exacerbate the risk that lenders face from extreme weather events. Our analysis also shows that other disaster-related risk channels may increase risk to lenders. These channels include climate change, price adjustment of the salvage value and time to settlement. However, this analysis has several limitations. Specifically, the lack of granular flood data may have led to an underestimation and smoothing of financial risks across households. As a result, the analysis potentially smoothed what could be more acute shocks to specific properties. |
| Keywords: | Climate change; Central bank research; Credit risk management; Econometric and statistical methods; Financial institutions; Financial stability |
| JEL: | C81 G21 Q54 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:bca:bocadp:23-33&r=env |
| By: | OECD |
| Abstract: | The frequency and severity of extreme wildfires are on the rise in the United States, causing unprecedented disruption and increasingly challenging the country’s capacity to contain losses and damages. These challenges are set to keep growing in the context of climate change, highlighting the need to scale up wildfire prevention and climate change adaptation. This paper provides an overview of the United States’ wildfire policies and practices and assesses the extent to which wildfire management in the country is evolving to adapt to growing wildfire risk under climate change. |
| Keywords: | climate adaptation, climate change, prevention, wildfire |
| Date: | 2024–01–22 |
| URL: | http://d.repec.org/n?u=RePEc:oec:envaac:40-en&r=env |
| By: | Matthew Ashenfarb; Matthew Kotchen |
| Abstract: | This paper provides stated preference (SP) estimates of the average social cost of carbon (ASCC) for use in evaluation of the benefits and costs of climate policy. Based on a U.S. nationally representative survey, we find an average individual willingness-to-pay (WTP) of $1, 116 per year to keep global warming less than 2°C by 2100 compared to a business-as-usual temperature change. Combining the WTP estimate with population projections and assessments of the required emission reductions, we find a domestic ASCC of $8 per tonne of carbon dioxide (CO2). Applying a benefits transfer approach to infer WTP in other countries, we obtain an estimate of the global ASCC of $39 per tonne, with a 95-percent confidence interval of $32-$48. The estimate is insensitive to the discount rate, but it does vary with assumptions about the income elasticity of WTP and the rate of change in marginal abatement costs. Reasonable scenarios create a range of estimates between $12-$118 per tonne. We also examine the impact of distributional weighting based on the elasticity of the marginal utility of income, providing distributionally-weighted estimates of the global ASCC for use in all countries. We argue that a SP estimate of the ASCC is an useful complement to existing estimates of the marginal social cost of carbon (SCC) based on different valuation approaches. |
| JEL: | H4 Q51 Q54 Q58 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:32043&r=env |
| By: | Juan S. Mora-Sanguinetti (Banque de France - Eurosystème and Banco de España - Eurosistema); Andrés Atienza-Maeso (Universidad Carlos III and Banco de España - Eurosistema) |
| Abstract: | The achievement of an environmentally sustainable growth model, the development of renewable energies or the adoption of energy efficiency measures are nowadays fundamental issues in economic analysis and are a substantial part of the public debate. However, while there may be an increased social awareness of these issues, a different question is at what pace these social concerns have been translated into regulation, fostering or hindering the development of new markets or “green” technologies. This paper proposes a rigorous empirical study identifying and quantifying, through text analysis, all regulations related to four different subject blocks associated with “green growth” (renewable energies, sustainable transportation, pollution and energy efficiency), issued by Spanish national or regional governments over the period 2000-2022. This research thus constructs a database in panel data format. Among other results, we identify 3, 482 regulations related to renewable energies, 783 regulations dealing with sustainable transportation, 108 on pollution management and 5, 116 related to the measurement (and management) of energy efficiency. The results show that regulation is diverse by subject matter, reflects significant regional diversity and has increased over time, especially in more recent years, after a certain standstill during the Great Recession. This database could help develop future research projects on the impacts of “green” regulation on certain economic or institutional variables (such as “green” innovation or environmental conflict). The paper concludes with a comparison of renewable energy regulation in France and Spain, also based on text analysis. Spain shows a higher and more disaggregated volume of regulation. |
| Keywords: | energy efficiency, renewable energies, sustainable transport, pollution, regulation, regulatory complexity, text mining |
| JEL: | K32 Q5 O13 O44 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:bde:wpaper:2336&r=env |
| By: | Prasetyo, Octavia Rizky; Kadir, Kadir |
| Abstract: | Climate change is a critical issue for food insecurity in many countries. It can disrupt food availability since it potentially results in the reduction of agricultural yield and eventually threatens smallholder farmers' livelihood and food security in the future. In the context of Indonesia, paddy cultivation, as one of the primary crop commodities, is also prone to climatic issues, such as floods and drought. However, to our knowledge, studies examining climate change's impact on the yield of paddy utilizing the nationwide survey in Indonesia are still limited. Hence, this study aims to assess the impact of climate change on the wetland and dryland paddy yield in Indonesia. In doing so, we applied a logistics regression to the 2021 Indonesian Crop-Cutting Survey results. The survey is conducted annually by Indonesian Statistical Agency (BPS) to obtain the yield data and information related to farmers' perceptions of climate change's impact on yield. After applying a logistics model to 50, 619 wetland paddy crop samples and 1, 081 dryland paddy crop samples, we found that paddy growers experiencing events resulting from climate change are more likely to have a higher probability of experiencing a decrease in their paddy yield than those who did not experience them, which is 2.23 times higher for wetland paddy and 1.77 times higher for dryland paddy. Besides, an incline in pest attack intensity and water insufficiency are also found to impact paddy yield reduction significantly. Further, based on kernel density distribution between groups of farmers, our finding pointed out that the yield of farmers affected by climatic issues, experiencing an increase in pest attacks, and facing water shortage, is slightly to the left of the opposite groups, which means that they are significantly lower than those unaffected. To conclude, this finding confirms that climate change, pest attacks, and insufficient avail water play a non-negligible role as yield-reducing factors in Indonesia's wetland and dryland paddy production. Thus, the mitigation of climate change impact, better strategy for pest control, and improved water management in paddy cultivation are essential to maintaining paddy production's sustainability. |
| Keywords: | climate change; yield; crop-cutting; paddy; Indonesia |
| JEL: | Q15 Q18 |
| Date: | 2023–06–10 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:119446&r=env |
| By: | Halkos, George; Gkargkavouzi, Anastasia |
| Abstract: | The current review aims to briefly (1) examine the relationship between personality traits and pro-environmental behaviors, considering the role of attitudinal and other psychological factors like concern, and (2) explore how personality variables are associated with economic choices in the context of environmental preference, especially willingness to pay (WTP) for environmental goods and services. Overall, the results highlight the importance of personality dimensions in understanding and predicting pro-environmental actions and intentions, including WTP. Personality traits play a significant role in explaining variations in environmental concern and sustainable behaviors. Agreeableness and openness have emerged as reliable indicators of individual environmental considerations. Agreeableness reflects empathy and concern for others, while openness is associated with increased environmentally conscious behavior. Neuroticism and conscientiousness have also been linked to environmental concern, but their impact may be influenced by contextual factors. Personality research enhances researchers' understanding of individual variations in economic behavior, providing more comprehensive explanations for individuals' choices and values. Understanding the impact of personality on stated preferences can enhance our comprehension of the variations in acceptance of environmental improvement policies among individuals, shed light on the distribution of benefits and costs across different personality types, and identify potential challenges in implementing these environmental improvements due to behavioral factors. Research on personality and environmentalism needs to expand to advance our understanding environmental behaviors and economic choices. |
| Keywords: | Personality; Pro-environmental Behavior; Economically Relevant Behavior; Environmental Concern. |
| JEL: | I30 Q00 Q51 Q59 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:119775&r=env |
| By: | Karen McGuinness |
| Abstract: | While climate change was largely tackled by government policies in the past, central banks are increasingly grappling with the risks climate change poses. They are evaluating their operational policies to reflect these risks and the transition to a net-zero economy. This paper explores the trade-offs and considerations central banks face. |
| Keywords: | Central bank research; Climate change; Financial markets |
| JEL: | D53 E58 E63 G32 Q Q54 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:bca:bocadp:23-31&r=env |
| By: | Biehler, Nadine; Knapp, Nadine; Koch, Anne |
| Abstract: | Climate change is leading to increasing displacement and migration, as well as involuntary immobility. The associated challenges and costs have long been neglected in the international climate negotiations. Until now, efforts to open up mobility choices for people negatively affected by climate change have been chronically underfunded. One important starting point for changing this is the explicit reference to human mobility in the new Loss and Damage Fund. However, financial resources and technical support alone are not enough. In order to meet the epochal challenge of climate change-induced human mobility ambitious migration policy solutions are needed, including planned relocation and the consideration of climate change impacts in the management of labour migration. |
| Keywords: | displacement, migration, climate change, International Climate Negotiations, COP 28, loss und damage, Internal Displacement Monitoring Centre (IDMC), Intergovernmental Panel on Climate Change (IPCC) |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:swpcom:281034&r=env |
| By: | Shalini Talwar (SPJIMR - S. P. Jain Institute of Management and Research); Puneet Kaur (UiB - University of Bergen, NWU - North-West University [Vaal Triangle Campus, Vanderbijlpark, South Africa]); Octavio Escobar (EM Normandie - École de Management de Normandie); Sai Lan (EM - emlyon business school) |
| Abstract: | The tourism sector has always been a target of criticism due to the adverse environmental effects of travel and activities at tourist destinations. It is thus imperative for researchers and managers to seek tourism solutions that make business sense without raising sustainability-related issues. Particularly in the aftermath of the COVID-19 pandemic, virtual reality tourism (VRT), a form of digitally-driven albeit unconventional ex-situ touristic travel, has attracted the attention of multiple stakeholders in the sector. However, consumers' perceptions of and motivations to use VRT as a sustainable solution for touristic activities are yet not fully understood. We address this deficiency in the literature by drawing upon expectancy theory to propose goal difficulty and reduction in the environmental impact of tourism (REI) as expectancy-related motivations, accomplishment as an instrumentality-related motivation and willingness to sacrifice as a valence-related motivation; we anticipate these motivations, in turn, to drive two outcomes: low- and high-effort pro-environmental behaviours. Analysing data collected from 350 individuals residing in the United States, we found support for all positive associations except for that of goal difficulty with high-effort pro-environmental behaviours and REI with both pro-environmental behaviours. We also tested and confirmed the moderating effects of the number of children in a household and daily green behaviours on some of the proposed associations. Our findings offer useful insights for future research and practice in the area. |
| Keywords: | Expectancy theory, Ex-situ tourism, Innovation, Motivational forces, Pro-environmental behaviours, Sustainable development goals (SDG), Virtual reality tourism |
| Date: | 2022–11–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04325590&r=env |
| By: | Schaffer, Lena Maria (University of Luzern); Magyar, Zsuzsanna |
| Abstract: | We examine how exposure to energy transition and climate policy vulnerability influence popular support for more ambitious climate policy. Moreover, we explore whether this relationship depends on a person's generalized and political trust. Comparing data from surveys in Germany and Switzerland, our findings reveal that perceived exposure to energy transition positively influences climate policy support, while individual climate policy vulnerability decreases it. For individuals with higher levels of trust, exposure helps enhance the positive effect (subjective exposure) or dampen the negative effect (policy vulnerability). These results underscore the importance of incorporating trust and subjective perceptions into climate policy frameworks. |
| Date: | 2023–12–30 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:8cquz&r=env |
| By: | Latino, Carmelo |
| Abstract: | This paper investigates stock market reaction to greenwashing by analyzing a new channel whereby companies change their names to green-related ones (i.e., names that evoke green and sustainable sentiments) to persuade the public that their activities are green. The findings reveal a striking positive stock price reaction to the announcement of corporate name changes to green-related names only for companies not involved in green activities at the time of the announcement. However, over an extended period of time, companies unrelated to green activities experience substantial negative abnormal returns if they fail to align their operational focus with the new name after the change. |
| Keywords: | Corporate Social Responsibility, Sustainable Investments, Greenwashing, Corporate Name Change |
| JEL: | M14 G24 G11 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:safewp:280965&r=env |
| By: | Christof Brandtner (EM - emlyon business school) |
| Abstract: | "Why do some cities adopt practices to resolve social and environmental problems more rapidly and extensively than others? Although diffusion studies emphasize administrative adoption by central authorities, a range of private and public organizations are involved in the distributed adoption of innovations. The author argues that variation in the adoption of urban innovations results from persistent differences in cities' organizational communities. An econometric analysis of the geographic dispersion of green construction practices and policies demonstrates that cities with greater civic capacity, where values-oriented organizations recognize and tackle social problems, see quicker and more extensive adoption. The effect is largest early in the diffusion process because nonprofits are themselves early adopters of green construction. Municipal policies later legitimate green building, but they follow prior individual organizations. The sequential framework of distributed and administrative adoption contributes to the understanding of the institutional determinants of responses to climate change, nonprofits as catalysts of urban innovation, and the consequences of urban governance on an intercity scale." |
| Keywords: | cities, climate change, institutional theory, diffusion, urban governance, civil society, nonprofit organizations, civic capacity, sociology |
| Date: | 2022–11–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04325656&r=env |
| By: | Geoff Boeing; Clemens Pilgram; Yougeng Lu |
| Abstract: | This study estimates the relationships between street network characteristics and transport-sector CO2 emissions across every urban area in the world and investigates whether they are the same across development levels and urban design paradigms. The prior literature has estimated relationships between street network design and transport emissions -- including greenhouse gases implicated in climate change -- primarily through case studies focusing on certain world regions or relatively small samples of cities, complicating generalizability and applicability for evidence-informed practice. Our worldwide study finds that straighter, more-connected, and less-overbuilt street networks are associated with lower transport emissions, all else equal. Importantly, these relationships vary across development levels and design paradigms -- yet most prior literature reports findings from urban areas that are outliers by global standards. Planners need a better empirical base for evidence-informed practice in under-studied regions, particularly the rapidly urbanizing Global South. |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2401.01411&r=env |
| By: | Hettiarachchi, Upeksha; Zhang, Wei; Pham, Thuy Thu; Davis, Kristin; Fadda, Carlo |
| Abstract: | This study focuses on the valuation of ecosystem services in Kenya and Vietnam, two countries that have received much attention from the international development community for their biodiversity significance, opportunities for scaling, climate and poverty challenges, and political will. Using The Economics of Ecosystems and Biodiversity (TEEB) framework and the Millenium Ecosystem Assessment (MEA), this study estimates per hectare values of ecosystem services in Kenya and Vietnam based on a systematic literature review of studies on the values of ecosystem services in both countries. Provisioning services, such as medicines, timber, and non-timber forest products were better studied than regulating, supporting and cultural ecosystem services, underscoring the need for further research to better estimate the values of non-tangible services which would improve the estimation of total value of ecosystem services in Kenya and Vietnam. To complement the national level analysis, we selected forest biomes to conduct a value transfer analysis. Forests provide ecosystem service benefits worth $25.78 billion for Kenya and $35.6 billion in Vietnam in 2022 USD. In comparison, the agricultural sector contributed $48.50 billion to Vietnam’s GDP and $24.10 billon to Kenya’s GDP in 2021. The per hectare values for ecosystem services are used in a value transfer analysis to estimate the total value of forest ecosystem services in Vietnam and Kenya. The average per hectare value of ecosystem services provided by forests in Kenya is $5, 718.50 ha−1 yr−1 estimated within a range spanning $1, 609.44 to $15, 606.62 ha−1 yr−1 , while Vietnam's forests demonstrate an average value of $3, 650.20 ha−1 yr−1 , with a range of $84.93 to $8, 978.16 ha−1 yr−1 . We project the loss of forests into 2050 and estimate the annual economic loss of ecosystem services at $48.08 million for Kenya and $76.29 million for Vietnam, respectively, if deforestation and forest degradation continue at the current rates. Our approach presents a comprehensive overview of diverse ecosystem services, equipping policymakers with a nuanced comprehension of ecosystems’ inherent value. By consolidating values from the literature into a national-level estimate, we provide compelling evidence at a broader scale for informed decision-making. Despite the well-known limitations of value transfer method and with caveats, the values presented in our paper can provide a guiding reference for incorporating these estimations into broader policymaking endeavors. |
| Keywords: | biodiversity; deforestation; ecosystem services; forests; policies; value theory; KENYA; EAST AFRICA; AFRICA SOUTH OF SAHARA; AFRICA; VIET NAM; VIETNAM; SOUTH EAST ASIA; ASIA |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:ifprid:2228&r=env |
| By: | Maamoun, Nada; Grünhagen, Caroline; Ward, Hauke; Kornek, Ulrike |
| Abstract: | Although climate change is expected to have a significant impact on the global population, little is known about how it will affect individual households in their daily lives. Based on food price increases caused by climate change, we analyse how climate-change-related damages distribute across households in over 75 developing countries. In a microsimulation model, climate damages are quantified as losses in consumer surplus, on average roughly 3 percent of total expenditure. We find evidence that climate damages are regressive, i.e. they disproportionately affect households with lower consumption. Damages display regressivity when we compare (a) national averages across countries, (b) all households in our sample, and (c) households within countries. However, there are some - often more developed - countries, where damages are progressive, i.e. damages disproportionately affect more affluent households in those countries. At a sectoral level, damages tend to be more regressive in countries where in relative terms rice consumption contributes more to the welfare of households. |
| Keywords: | Climate damages, Distributional impacts, Food prices, Regressivity |
| JEL: | Q54 D63 D31 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:esprep:281165&r=env |
| By: | Halkos, George; Aslanidis, Panagiotis-Stavros |
| Abstract: | The current waste crisis calls for a stable and integrated institutional framework. Policymakers try to untangle the complicated and interconnected acts, regulations, and directives in the European Union (EU). However, it is not a plain sailing to observe and implement the vast regulatory armamentarium of the EU in the circular economy (CE) sectors to achieve sustainable waste management (SWM). Aim of the present study is to showcase the historic – international and European – institutional framework on waste management as well as the main hazardous and special waste streamsin order to build an integrated SWM framework. Moreover, CE necessitates for the safeguarding of critical raw materials (CRMs) and energy, in order to blueprint policies for the Net-Zero Age. Hence, the present study would show how CE can establish SWM, even though CE is going to face complex challenges till the conclusion of Agendas 2030 and 2050. |
| Keywords: | EU;sustainablewaste management; sustainabledevelopment; Agenda 2030; Agenda 2050 |
| JEL: | Q01 Q50 Q53 Q58 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:119774&r=env |
| By: | Alexandre Mathieu (SOURCE - SOUtenabilité et RésilienCE - UVSQ - Université de Versailles Saint-Quentin-en-Yvelines - IRD [France-Nord] - Institut de Recherche pour le Développement) |
| Abstract: | The realm of green jobs presents a fertile ground for understanding the intersecting pathways between sustainable transition and the labor market. We have crafted a bibliometric dataset centered on this concept, amassing 414 articles from the Scopus and Web of Science databases, following a laid down protocol, PRISMA, spanning the period from 1995 to 2022. This endeavor aims to depict the dynamics, themes, and conceptual approaches shaping the discourse on green jobs. The dataset, structured around 13 descriptive variables such as authors, keywords, and cited references, is made available to researchers, institutions, and decision-makers to provide insight into the academic debates on ecological transition through the lens of employment, especially in the wake of a green economy. The potential for reutilizing these data is expansive. They can serve as a foundation for comparative analyses with the media and institutional portrayals of green jobs. Furthermore, the dataset can be enriched by integrating other forms of literature, such as books, chapters, or conference proceedings, while retaining the existing structure. This expansibility paves the way for a multidisciplinary and multilingual exploration, thereby enhancing the richness and diversity of possible analyses. |
| Abstract: | Le domaine des emplois verts représente un terrain fertile pour comprendre les chemins croisés entre la transition soutenable et le marché du travail. Nous avons élaboré un ensemble de données bibliométriques centré sur ce concept, accumulant 414 articles des bases de données Scopus et Web of Science, suivant un protocole établi, PRISMA, couvrant la période de 1995 à 2022. Cette entreprise vise à dépeindre la dynamique, les thèmes et les approches conceptuelles qui façonnent le discours sur les emplois verts. L'ensemble de données, structuré autour de 13 variables descriptives telles que les auteurs, les mots-clés et les références citées, est mis à disposition des chercheurs, des institutions et des décideurs pour fournir un aperçu des débats académiques sur la transition écologique à travers le prisme de l'emploi, notamment dans le sillage d'une économie verte. Le potentiel de réutilisation de ces données est vaste. Elles peuvent servir de base pour des analyses comparatives avec les représentations médiatiques et institutionnelles des emplois verts. De plus, l'ensemble de données peut être enrichi en intégrant d'autres formes de littérature, telles que des livres, des chapitres ou des actes de conférence, tout en conservant la structure existante. Cette expansibilité ouvre la voie à une exploration multidisciplinaire et multilingue, améliorant ainsi la richesse et la diversité des analyses possibles. |
| Keywords: | Bibliometrics, Green Job, Green collar job, Green work, Green employment, Green economy, Sustainable development, Bibliometrics Green Job Green collar job Green work Green employment Green economy Sustainable development, Bibliométrie, Emploi vert, Travail vert, Travail soutenable, Économie verte, Développement soutenable |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04338772&r=env |
| By: | Hanim Kamaruddin (Faculty of Law, Universiti Kebangsaan Malaysia Author-2-Name: Muhammad Nazrin Harith Bin Mohd Mahyudin Author-2-Workplace-Name: Faculty of Law, Universiti Kebangsaan Malaysia Author-3-Name: Muhamad Sayuti Hassan Author-3-Workplace-Name: Faculty of Law, Universiti Kebangsaan Malaysia Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:) |
| Abstract: | " Objective - As we approach the halfway point since the adoption of the 2030 Sustainable Agenda and the 17 Sustainable Development Goals (SDG), our progress in achieving the objectives remains unsatisfactory. One of which pertains to the sixth SDG that envisions access to clean water, sanitation, and hygiene as the most fundamental requirement for human health and well-being Methodology - Per the 2022 SDG report, the global water stress level stayed at an acceptable 18.6% in 2019, but regional disparities exist. Unless progress quadruples, billions will lack access to potable drinking water and sanitation by 2030 due to rapid population increase, urbanization, and rising water demands from the agricultural and industrial sectors. As the effective management of wastewater plays a crucial role in ensuring sustained access to clean water, Malaysia has implemented a series of national policies, legislations, and institutional arrangements to achieve an integrated wastewater legislative and governance framework. Findings - It is critical that good practices for regulating wastewater treatment and management are analysed to address the gaps that exist that may hamper the promotion of effective and responsible wastewater management for sustainable water resources. This research is a review of Malaysia's existing wastewater governance and legislative framework. Novelty - It is found that Malaysia's history with wastewater has seen much development to its current status, which enables increased coverage of access to clean water and basic sanitation. Nevertheless, existing problems in the wastewater industry prevent further expansion into niche areas such as wastewater reclamation. Type of Paper - Review" |
| Keywords: | wastewater; legislative; sustainability; Malaysia; water security; wastewater management; wastewater reclamation. |
| JEL: | H1 Q25 |
| Date: | 2023–12–31 |
| URL: | http://d.repec.org/n?u=RePEc:gtr:gatrjs:jber239&r=env |
| By: | Lanshina, Tatyana (Ланьшина, Татьяна) (The Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | The paper analyzes how the geopolitical events of 2022 influenced plans for the energy transition in the EU, and how they affected the development of the renewable energy sector in Russia. In the course of the study, it was revealed that in the current conditions, the intention of the EU to carry out the energy transition has not only not weakened, but, on the contrary, has strengthened. The Russian renewable energy industry, which until 2022 developed with a significant lag compared to both developed and developing countries, after February 2022, was in limbo, because a number of Western partners left the industry or intend to leave it, and the search for Eastern partners is complicated by risks, which potential new partners may face when cooperating with Western partners, as well as by the small size of the Russian RES market, which makes potential cooperation meaningless, especially in light of the identified risks. The research methodology consists in the use of general scientific methods (analysis and synthesis, induction and deduction, etc.). The results of the study contain recommendations for Russia's energy transition policy, which could contribute to the establishment of new economic partnerships between Russia and other countries in the field of modern energy in the long term. One of the most important components of such a policy is to strengthen the nationally determined contribution to the implementation of the Paris Agreement. However, new partnerships are out of the question as long as hostilities continue. |
| Keywords: | climate policy, carbon neutrality, renewable energy sources (RES) |
| JEL: | Q42 |
| Date: | 2022–11–09 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:w20220304&r=env |
| By: | LIN Kexin; KIMURA Yosuke; INOUE Kotaro |
| Abstract: | This study uses proprietary data on environmental and social issue engagement in Japan to examine institutional investors’ selection criteria and the effects of engagement on the environmental and social performance of companies. The results indicate that institutional investors engage with companies that align with their monitoring motivations, exhibit relatively good capital efficiency, and demonstrate good governance practices. Additionally, environmental engagements lead to the adoption of long-term CO2 emission targets and a reduction in companies' CO2 emissions. Social and governance engagement increased the representation of women on corporate boards. These results indicate the presence of differences in the effects of engagements across different themes. |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:eti:dpaper:23091&r=env |
| By: | Ma. Cristina Q. Trinidad (Polytechnic University of the Philippines, Sta. Mesa, 1016, Manila, Philippines Author-2-Name: Ron Michael Balderama Author-2-Workplace-Name: "Polytechnic University of the Philippines, Sta. Mesa, 1016, Manila, Philippines " Author-3-Name: Author-3-Workplace-Name: Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:) |
| Abstract: | " Objective - Food is an integral part of humanity. However, eating remains one of the poor practices of college students. Students have yet to practice sustainable dining procedures that affect their health and well-being and the environment because of food waste. Thus, this study intended to identify the dining practices of college students and some of the factors affecting those practices. Whether the factors are directly related to the dining practices and the latter were related to sustainability. Methodology/Technique - A quantitative-descriptive-correlational research study that utilizes a survey questionnaire, which comprises the individual, physical, social, and macro-environmental factors affecting the dining practices of the students during the rise of the pandemic, was used in this empirical study. Data was collected from 396 college students who underwent statistical and Pearson correlation analysis. Finding - The findings showed a direct relationship between the dining practices of the respondents and the various factors. Students practiced several dining practices, specifically drinking 5-7 glasses of water, and sustainable dining practices, such as eating home-cooked meals and choosing eco-friendly packaging. Novelty - Research findings can be relevant as an instrument for future interventions that promote and support the adoption and promotion of sustainable campus dining practices programs. Type of Paper - Empirical" |
| Keywords: | Dining practices, eating, sustainable consumption, sustainable production, sustainable dining, sustainability, hospitality, COVID-19, Polytechnic University of the Philippines. |
| JEL: | H43 H44 |
| Date: | 2023–12–31 |
| URL: | http://d.repec.org/n?u=RePEc:gtr:gatrjs:gjbssr638&r=env |
| By: | Mahdi Nohekhan; Mohammadmahdi Barzegar |
| Abstract: | Given the move towards industrialization in societies, the increase in dynamism and competition among companies to capture market share, raising concerns about the environment, government, and international regulations and obligations, increased consumer awareness, pressure from nature-loving groups, etc., organizations have become more attentive to issues related to environmental management. Over time, concepts such as green marketing have permeated marketing literature, making environmental considerations one of the most important activities of companies. To this end, this research examines the impact of green marketing strategy on brand awareness (case study: food exporting companies). The population of this research consists of 345 employees and managers of companies like Kalleh, Solico, Pemina, Sorbon, Mac, Pol, and Castle, from which 182 individuals were randomly selected as the sample using Cochran's formula. This research is practical, and the required data have been collected through a survey and a questionnaire. The research results indicate that (1) green marketing strategy significantly affects brand awareness. (2) Green products have a significant positive effect on brand awareness. (3) Green promotions have a significant positive effect on brand awareness. (4) Green distribution has a significant positive effect on brand awareness. (5) Green pricing has a significant positive effect on brand awareness. |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2401.02042&r=env |
| By: | Kamil Aliyev (Graduate School of Economics, Osaka University) |
| Abstract: | This paper sets a small open economy model in which the government can raise the efficiencies of production and extraction of a non-renewable natural resource by spending the budget raised through income tax. Using this model, we examine the optimal government expenditure on the production technology and that on the extraction technology. The results are as follows. If revenue of natural resource is high, the optimal expenditure on the extraction technology is high, while the optimal expenditure on production technology is independent of the natural resource revenue. Moreover, if the ratio of the optimal expenditure for improvement of extraction technology to the resource revenue is higher (lower) than the optimal tax rate under the depletion of the natural resource, the optimal tax rate before the depletion is higher (lower) than that after the depletion. |
| Keywords: | non-renewable natural resource, labor productivity, optimal tax, small open economy |
| JEL: | H21 H54 O41 Q32 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:osk:wpaper:2401&r=env |
| By: | Velloso, Helvia; Perrotti, Daniel E. |
| Abstract: | This document examines the evolution of Latin America and the Caribbean (LAC)’s international issuance of sustainable bonds —green, social, sustainability and sustainability-linked bonds (GSSS)— since the region’s first international green bond was issued in December 2014. Reaching a cumulative total international GSSS bond issuance of US$ 100 billion in the 2014-2022 period, four main trends are identified. First, the share of GSSS bonds in the region’s total international bond issuance has increased significantly, jumping from less than 1% in 2018 to 32% in 2022. Second, while initially most issuances were of green bonds, the region has moved toward a diversification of the sustainable instruments used, with sustainability and sustainability-linked bonds becoming the region’s most used GSSS instruments since 2021. Third, since Chile issued the first sovereign international green bond in June 2019, sovereign GSSS bond issuances have become the driver of the region’s overall international sustainable issuances, accounting for the largest share of the GSSS total. Finally, applying a propensity score matching (PSM) methodology to compare the behavior of GSSS and conventional bonds issued by LAC public and private agents in the primary market in this eight-year period, a statistically significant “greenium” —the amount by which the yield on a GSSS bond is lower than an otherwise identical conventional bond— was found, evidence of investors’ willingness to accept a lower financial yield in pursuit of a social responsibility agenda. |
| Date: | 2023–12–28 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col034:68789&r=env |
| By: | Ximeng Fang (University of Oxford); Lorenz Goette (University of Bonn); Bettina Rockenbach (University of Cologne); Matthias Sutter (Max Planck Institute for Research on Collective Goods, University of Cologne, University of Innsbruck); Verena Tiefenbeck (Friedrich-Alexander Universität Nürnberg-Erlangen, ETH Zurich); Samuel Schoeb (University of Bamberg); Thorsten Staake (University of Bamberg, ETH Zurich) |
| Abstract: | Behavioral policy often aims at influencing behavior by mitigating biases due to, e.g., imperfect information or inattention. We study how this is affected by the simultaneous presence of multiple biases arising from different sources, through a field experiment on resource conservation in an energyand water-intensive everyday activity (showering). One intervention, shower energy reports, primarily targeted knowledge about environmental impacts; another intervention, real-time feedback, primarily targeted salience of resource use. We find a striking complementarity. While only the latter induced significant conservation effects when implemented in isolation, each intervention became more effective when implemented jointly. This is consistent with predictions from a theoretical framework that highlights the importance of targeting all relevant sources of bias to achieve behavioral change. |
| Keywords: | behavioral public policy, pro-environmental behavior, limited attention, information provision, real-time feedback, policy interactions |
| JEL: | D83 D90 Q41 |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:mpg:wpaper:2023_13&r=env |
| By: | Theodoros Chatzivasileiadis; Ignasi Cortes Arbues; Jochen Hinkel; Daniel Lincke; Richard S. J. Tol |
| Abstract: | This study investigates the long-term economic impact of sea-level rise (SLR) on coastal regions in Europe, focusing on Gross Domestic Product (GDP). Using a novel dataset covering regional SLR and economic growth from 1900 to 2020, we quantify the relationships between SLR and regional GDP per capita across 79 coastal EU & UK regions. Our results reveal that the current SLR has already negatively influenced GDP of coastal regions, leading to a cumulative 4.7% loss at 39 cm of SLR. Over the 120 year period studied, the actualised impact of SLR on the annual growth rate is between -0.02% and 0.04%. Extrapolating these findings to future climate and socio-economic scenarios, we show that in the absence of additional adaptation measures, GDP losses by 2100 could range between -6.3% and -20.8% under the most extreme SLR scenario (SSP5-RCP8.5 High-end Ice, or -4.0% to -14.1% in SSP5-RCP8.5 High Ice). This statistical analysis utilising a century-long dataset, provides an empirical foundation for designing region-specific climate adaptation strategies to mitigate economic damages caused by SLR. Our evidence supports the argument for strategically relocating assets and establishing coastal setback zones when it is economically preferable and socially agreeable, given that protection investments have an economic impact. |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2401.00535&r=env |
| By: | Hansen, Gerrit |
| Abstract: | Bei der anstehenden UN-Klimakonferenz in Dubai (COP28) wird erneut um den globalen Ausstieg aus fossilen Brennstoffen gerungen. Auch in Deutschland und der EU gab es im Vorfeld intensive Debatten zur Positionsfindung. Strittig ist vor allem die Frage, ob global ein Komplettausstieg aus allen fossilen Brennstoffen gefordert werden soll - oder nur ein Herunterfahren der ungeminderten Nutzung, also jener ohne zusätzliche Klimaschutzmaßnahmen wie Kohlendioxidabscheidung und -speicherung (Carbon Capture and Storage, CCS). Welche Rolle emissionsreduzierte fossile Energieträger in einer klimaneutralen Wirtschaft haben können, ist sehr umstritten. Langfristig ist dies abhängig von einem erfolgreichen Hochlauf von CCS, den dabei erreichten Abscheideraten und der Verfügbarkeit von Technologien zur CO2-Entnahme aus der Atmosphäre (Carbon Dioxide Removal, CDR), mit der Restemissionen ausgeglichen werden. Bis 2030 ist nicht mit signifikanten Einsparungen von Treibhausgas durch CCS im Stromsektor zu rechnen. Ob in Dubai ein glaubwürdiges Signal für das rasche Absenken fossiler Emissionen gesetzt werden kann, hängt nicht zuletzt an einer klaren und wissenschaftsbasierten Definition, wann von einer emissionsreduzierten Nutzung fossiler Brennstoffe im Einklang mit dem Temperaturziel des Pariser Klimaabkommens die Rede sein kann. |
| Keywords: | UN-Klimakonferenz in Dubai 2023 (COP28), Ausstieg aus fossilen Brennstoffen, Kohle, Öl und Gas, Kohlendioxidabscheidung und -speicherung (Carbon Capture and Storage, CCS), CO2-Entnahme aus der Atmosphäre (Carbon Dioxide Removal, CDR), Klimarahmenkonvention der Vereinten Nationen (UNFCCC), Pariser Klimaabkommen, 1, 5-Grad-Ziel, Global Stocktake (GST) |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:swpakt:281024&r=env |
| By: | Shujaat Farooq (Pakistan Institute of Development Economics); Durr-e-Nayab (Pakistan Institute of Development Economics); Saddam Hussein (Pakistan Institute of Development Economics); Nabila Kunwal (Pakistan Institute of Development Economics) |
| Abstract: | The human dependence on forests is as old as the beginning of times. Thus, the conservation of forests is important, both for the existence of human beings and the protection of renewable natural resources. The forest ecosystems play a significant but often unrecognized role at multiple scales of human organization. At the mirco-level, this extends from households to community. On the macro level, it encompasses overall human well-being inhabiting the Earth’s biosphere. |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:pid:rrepot:2023:13&r=env |
| By: | KEIDA Masayuki; TAKEDA Yosuke |
| Abstract: | Environmental, social, and governance (ESG) investing in equity markets has surged for corporate firms, whose managerial efforts are disclosed and evaluated in favor of environmental, social, or governance-oriented issues. Since managerial information is costly for individual investors to acquire and process, “exit or voice†activities of speculators through market monitoring is necessary to reduce uncertainty associated with firms’ managerial performance (Holmstrӧm and Tirole, 1993; Tirole, 2006). This study examines Japan’s Government Pension Investment Fund (GPIF), which announced that it selected some ESG indices for Japanese equities and commenced passive investment tracking them. We estimate the effects of several announcements made by GPIF on the equity prices of the monitored firms, empirically showing the effects of informational efficiency in market monitoring on share prices in a case of positive screening through GPIF’s choice over the ESG indices based on public information. The panel regressions indicate that the GPIF’s soft voice influencing the corporations’ pro-ESG managerial efforts was loud enough to cause temporary increases in stock prices. However, the transient effects of the GPIF’s market monitoring are contradictory in that the effects are absent for the corporations whose sustainability reports reveal information on their positive ESG-related performances. Our finding that the ESG ratings accurately reflect the content of sustainability reports is supportive of the GPIF’s objectives of positive screening based on public information in choosing the ESG indices. |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:eti:dpaper:24002&r=env |
| By: | Chyong, C. K.; Reiner, D. M.; Ly, R.; Fajardy, M. |
| Abstract: | We build a unit-commitment optimisation model of a flexible combined-cycle gas turbine (CCGT) with solvent-based post-combustion carbon capture and storage (CCS). We derive the economic benefits of CCS with solvent storage for a 20-year investment (2030-2050) based on the expected long-term increase in carbon prices and the volatility of electricity prices. Drawing on National Grid’s Future Energy Scenarios for the UK, our model shows that the CCGT-CCS plant profit is, on average, higher with solvent storage because of intertemporal arbitrage opportunities created by having this storage solution available. We find that the economic value of this intertemporal flexibility increases with greater electricity price volatility. Under high price volatility, the total return on investment (ROI) could reach 81- 246%. In relative terms, this is much higher than the total ROI of the CCGT-CCS plant itself (7-64%). While there is an economic case for investing in flexible CCS with solvent storage, there are wider system benefits too. A flexible solvent storage solution should be seen in the context of the overall system ‘flexibility’ requirements of a low-carbon power system. On a cost basis, solvent storage represents just a fraction of the capital costs of more “mainstream†energy storage technologies, such as lithium-ion batteries or hydro pumped storage, while CCGT-CCS offers firm power. Overall, while seen as a rather technical solution, if abated fossil fuel generation is to be part of a future low-carbon power system having this flexibility adds economic benefits not just to operators but also improves overall system security and complements high shares of variable renewables on the grid. |
| Keywords: | Combined-cycle gas turbines, Carbon capture and storage, unit-commitment models, optimisation, flexible carbon capture, solvent storage |
| JEL: | C61 Q47 Q48 Q52 Q55 |
| Date: | 2023–12–29 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:2336&r=env |
| By: | Brandon H. Lee (melbourne business school - melbourne business school); Panayiotis Panikos Georgallis (UvA - University of Amsterdam [Amsterdam] = Universiteit van Amsterdam); Jeroen Struben (EM - emlyon business school) |
| Date: | 2022–02–11 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04325583&r=env |
| By: | Marguerite Obolensky; Marco Tabellini; Charles Taylor |
| Abstract: | This paper introduces the concept of “climate matching” as a driver of migration and establishes several new results. First, we show that climate strongly predicts the spatial distribution of immigrants in the US, both historically (1880) and more recently (2015), whereby movers select destinations with climates similar to their place of origin. Second, we analyze historical flows of German, Norwegian, and domestic migrants in the US and document that climate sorting also holds within countries. Third, we exploit variation in the long-run change in average US climate from 1900 to 2019 and find that migration increased more between locations whose climate converged. Fourth, we verify that results are not driven by the persistence of ethnic networks or other confounders, and provide evidence for two complementary mechanisms: climate-specific human capital and climate as amenity. Fifth, we back out the value of climate similarity by: i) exploiting the Homestead Act, a historical policy that changed relative land prices; and, ii) examining the relationship between climate mismatch and mortality. Finally, we project how climate change shapes the geography of US population growth by altering migration patterns, both historically and into the 21st century. |
| JEL: | J15 J61 N31 N32 Q54 R11 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:32035&r=env |
| By: | Gabriel Bruneau; Javier Ojea Ferreiro; Andrew Plummer; Marie-Christine Tremblay; Aidan Witts |
| Abstract: | Our study aims to gain insight on financial stability and climate transition risk. We develop a methodological framework that captures the direct effects of a stressful climate transition shock as well as the indirect—or systemic—implications of these direct effects. We apply this framework using data from the Canadian financial system. To capture the direct effects, we leverage the climate transition scenarios and financial risk assessment methods developed for the Bank of Canada and the Office of the Superintendent of Financial Institutions climate scenario analysis pilot project. We examine the direct effects—in the form of credit, market and liquidity risks—of the climate transition shock on financial system entities within the scope of our study. Specifically, we look at the public and private assets and derivatives portfolios of deposit-taking institutions, life insurance companies, pension funds and investment funds. To assess the indirect effects from the potential spread of the climate transition shock across an interconnected financial system, we extend an agent-based model to explore shock transmission channels such as cross-holding positions, business similarities, common exposures and fire sales. This model considers behavioural assumptions and rules, allowing us to understand the interconnectedness of the financial system. This work strengthens our understanding of how distinct entities within the financial system could be impacted by and respond to climate transition risks and opportunities, and of the potential channels through which those risks and opportunities may spread. More generally, this work contributes to building standardized systemic risk assessment and monitoring tools. |
| Keywords: | Climate change; Financial stability; Financial institutions; Financial markets; Economic models |
| JEL: | Q54 C63 G01 G10 G20 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:bca:bocadp:23-32&r=env |
| By: | Resta, Emanuela; Resta, Onofrio; Costantiello, Alberto; Leogrande, Angelo |
| Abstract: | In the following article, it is presented an investigation of the determinants of Beds for High-Care Specialties-BHCS in the Italian regions in the context of Environmental, Social and Governance-ESG approach. Data from ISTAT-BES for 20 countries in the period 2004-2021 are been used. Different econometric techniques have been applied i.e.: Pooled Ordinary Least Squares, Panel Data with Fixed Effects, Panel Data with Random Effects, Dynamic Panel at 1 stage. Furthermore, a cluster analysis performed with a k-Means algorithm optimized with the Silhouette Coefficient indicated the presence of three clusters. Finally, eight different machine-learning algorithms are analysed to predict the future value of BHCS. The results show that the Artificial Neural Network-ANN algorithm is the best algorithm. The future value of BHSC is expected to growth on average of 4.88% for the analysed regions. |
| Keywords: | Analysis of Health Care Markets, Health Behaviors, Health Insurance, Public and Private, Health and Inequality, Health and Economic Development, Government Policy, Regulation, Public Health. |
| JEL: | I11 I12 I13 I14 I15 I18 |
| Date: | 2023–12–30 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:119622&r=env |
| By: | Rowland, Neil; McVicar, Duncan; Vlachos, Stavros; Jahanshahi, Babak; McGovern, Mark E.; O’Reilly, Dermot |
| Abstract: | Extensive evidence shows exposure to ambient PM2.5 is associated with a wide range of poor health outcomes. But few studies examine genuinely long-run pollution exposures in nationally representative data. This study does so, exploiting longitudinally-linked Census data for Northern Ireland, linked to annual average PM2.5 concentrations at the 1km grid-square level from 2002-2010, exploiting complete residential histories. We show strong unconditional associations between PM2.5 exposure, self-rated general health, disability, and all available (eleven) domain-specific health measures in the data. Associations with poor general health, chronic illness, breathing difficulties, mobility difficulties, and deafness are robust to extensive conditioning and to further analysis designed to examine sensitivity to unobserved confounders. |
| Keywords: | Long-term exposure to ambient air pollution, PM2.5, population health, linked Census data, neighbourhood fixed effects, Oster method for unobserved confounding |
| JEL: | I10 I18 Q53 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:qmsrps:202401&r=env |
| By: | Grossmann, Max; Hackethal, Andreas; Laudi, Marten; Pauls, Thomas |
| Abstract: | We conduct a field experiment with clients of a German universal bank to explore the impact of peer information on sustainable retail investments. Our results show that information about peers' inclination towards sustainable investing raises the amount allocated to stock funds labeled sustainable, when communicated during a buying decision. This effect is primarily driven by participants initially underestimating peers' propensity to invest sustainably. Further, treated individuals indicate an increased interest in additional information on sustainable investments, primarily on risk and return expectations. However, when analyzing account-level portfolio holding data over time, we detect no spillover effects of peer information on later sustainable investment decisions. |
| Keywords: | Household Finance, Sustainable Finance, Experimental Finance, Financial Advice |
| JEL: | D14 G11 C93 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:safewp:280963&r=env |
| By: | Zhong, Ziqi; Zhao, Elena Yifei |
| Abstract: | In this article, we aim to explore the relationship between sustainable marketing and supply chain management (SCM) under the background of metaverse technology to realize the sustainable development of enterprises. First, this study deeply studies the influence of metaverse technology on sustainable marketing strategy from the theoretical level. Second, it deeply discusses the integration of digital transformation and sustainable development in SCM. Finally, this study implements a collaborative driving model of sustainable marketing and SCM supported by metaverse. By designing and analyzing the questionnaire on the sustainable performance of enterprises, it is found that SCM, cooperation with customers, investment recovery, sustainable marketing, R&D and design, production, and manufacturing have a significant positive influence on the sustainable performance of enterprises (p |
| Keywords: | enterprise sustainable performance; metaverse; supply chain management (SCM); sustainable marketing; synergistic driving; Enterprise sustainable performance; AAM requested |
| JEL: | L81 |
| Date: | 2024–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:121160&r=env |
| By: | De Petris, Caterina; Drechsler, Martin |
| Abstract: | Payments for Ecosystem Services (PES) are an incentive-based policy instrument encouraging landowners to adopt conservation practices that enhance ecosystem services in exchange for a compensation payment. PES schemes vary considerably in their design, yielding important implications for their conservation outcome and their cost-effectiveness. Given that a landowner’s probability of re-enrolling in a PES scheme is significantly influenced by social norms, this article explores whether the cost-effectiveness of PES schemes could be increased by leveraging on social norms. In particular, we explore whether designing dynamic PES schemes in which a homogenous PES payment is reduced in subsequent contracts would be more cost-effective than static schemes under the assumption that some landowners will enrol or re-enrol in the scheme encouraged by the behaviours of neighbouring landowners. We analyse whether, by initially setting a high payment so as to build a partially conserved landscape, it would be possible to leverage on social norms and reduce the PES payment without losing much conservation engagement. For this purpose, a conceptual agent-based simulation model entailing social norms and bounded rationality as well as other-regarding preferences has been developed. |
| Keywords: | Payment for Ecosystem Services (PES); agri-environment schemes (AES); social norms; bounded rationality; ecological-economic modelling; agent-based modelling (ABM) |
| JEL: | C6 Q57 Q58 |
| Date: | 2023–12–20 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:119534&r=env |
| By: | Kang, Gu Sang (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Kim, Hyok Jung (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Kim, Jonghyuk (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Kwon, Hyuk Ju (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Park, Eunbin (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Yeo Joon, Yeo Joon (Pusan National University) |
| Abstract: | The U.S. has taken a leading role in global discussions, not only in addressing major economic and trade issues but also in formulating cooperative measures on the international stage. Consequently, understanding the U.S. position and response strategies for each critical issue arising from external shocks is essential. This understanding holds significant importance in shaping Korea's mid- to long-term foreign economic strategy. By comprehending the U.S. position and response strategies, particularly regarding major issues, this study aims to derive Korea’s future trade strategies with the U.S. and develop cooperation plans with the U.S. As a result of conducting research under these objectives, the following cooperation strategies between South Korea and the United States have been derived. First, in the context of supply chain restructuring, South Korea should consider expanding local investment and production in the semiconductor and battery sectors within the U.S. close collaboration between the government and companies is essential to maximize national interests. It is crucial for our companies to take advantage of the tax incentives and other regulatory incentives offered by the U.S. government when entering the U.S. market, and our government should provide diplomatic support for these efforts. Regarding digital trade, South Korea should actively participate in international discussions led by the U.S. to set standards for essential infrastructure in the global digital transformation, such as advanced communication networks like 5G and 6G. Further-more, South Korea should actively lead discussions within the IPEF on the Trade Facilitation and Digital Commerce Working Group to overcome limitations within the KORUS FTA's digital trade provisions and collaborate with participating countries to develop a roadmap for digital trade norms. In the area of climate change mitigation, South Korea and the U.S. should strengthen their cooperation by promoting joint research in environmentally friendly, low-carbon technologies such as hydrogen production and utilization, fuel cells, carbon capture, utilization, and storage (CCUS), and energy storage devices. Additionally, both countries should collaborate on producing related products. Furthermore, South Korea should proactively engage with the U.S. in discussions related to climate change policies that the U.S. and the EU are considering. (the rest omitted) |
| Keywords: | Korea-U.S. cooperation; Global Supply Chain; Digital Trade; Climate Change |
| Date: | 2023–12–28 |
| URL: | http://d.repec.org/n?u=RePEc:ris:kiepwe:2023_045&r=env |
| By: | Webbe-Wood, D.; Nuttall, W. J.; Kazantzis, N. K.; Chyong C. K. |
| Abstract: | A developer considering the construction of a Steam Methane Reforming facility for the production of hydrogen from natural gas faces the decision as to whether to incorporate and operate a Carbon Capture and Storage (CCS) unit, as part of the facility, in an environment where the costs of inputs and the price of hydrogen are uncertain. Conventional valuation methodologies such as Discounted Cash Flow (DCF) cannot systematically integrate uncertainty from changing market and regulatory conditions. Such methods are also unable to account for the ability of management to make use of flexibility to respond as the uncertainties are progressively resolved proactively. Consequently, an Engineering Flexibility / Real Options approach has been developed to allow the calculation of the additional value that the developer might obtain if a CCS unit is not fitted at the time of construction of the SMR plant. Instead, the plant is constructed so that the CCS unit can be retrofitted during the plant’s lifetime if the economic conditions are such that it appears that this will increase the value of the SMR plant. Application of this approach has shown that, for this example, the Net Present Values are increased in a range of energy price and cost of CO2 release scenarios, i.e. the Real Option has a positive value. These findings hold for a range of discount rates. Similarly, the approach improves the Value at Risk and the Value at Gain. Whilst in this work, the approach has been applied to the example of the decision of whether to fit a CSS unit to an SMR plant for the production of blue hydrogen, it is believed that a similar approach can be applied to other situations. |
| Keywords: | Uncertainty, Investment Decisions, Blue Hydrogen, Carbon Capture and Storage Under Uncertainty, Real Options, Monte-Carlo Simulation |
| JEL: | D81 G11 Q40 |
| Date: | 2023–12–29 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:2338&r=env |
| By: | William Brock; Anastasios Xepapadeas |
| Abstract: | This paper puts forth a growth model that takes into account the fact that the economy is embedded in a finite Earth. Economic activity causes greenhouse gas (GHG) emissions into the atmosphere and uses services from the biosphere. There are two main messages from the analysis: First, R&D in technologies that reduce GHG emissions and inputs from the biosphere must be ramped up rapidly. Second, in view of the fact that the top 10% of the world's inhabitants have roughly 76% of the world's wealth, consumption that causes emissions and uses inputs from the biosphere must decrease rapidly. |
| Keywords: | growth, limits, biosphere, population dynamics, impact inequality, biosphere saving technology |
| JEL: | O44 J13 Q01 |
| Date: | 2024–01–16 |
| URL: | http://d.repec.org/n?u=RePEc:aue:wpaper:2402&r=env |
| By: | Resta, Emanuela; Resta, Onofrio; Costantiello, Alberto; Leogrande, Angelo |
| Abstract: | The following article presents an analysis of the impact of the Environmental, Social and Governance-ESG determinants on Hospital Emigration to Another Region-HEAR in the Italian regions in the period 2004-2021. The data are analysed using Panel Data with Random Effects, Panel Data with Fixed Effects, Pooled Ordinary Least Squares-OLS, Weighted Least Squares-WLS, and Dynamic Panel at 1 Stage. Results show that HEAR is negatively associated to E, positively to S and negatively associated to the G within the ESG model. The data were subjected to clustering with a k-Means algorithm optimized with the Silhouette coefficient. The optimal clustering with k=2 is compared to the sub-optimal cluster with k=3. The results suggest a negative relationship between the resident population and hospital emigration at regional level. Finally, a prediction is proposed with machine learning algorithms classified based on statistical performance. The results show that the Artificial Neural Network-ANN algorithm is the best predictor. The ANN predictions are critically analyzed in light of health economic policy directions. |
| Keywords: | Analysis of Health Care Markets, Health Behaviors, Health Insurance, Public and Private, Health and Inequality, Health and Economic Development, Government Policy, Regulation, Public Health. |
| JEL: | I11 I12 I13 I14 I15 I18 |
| Date: | 2023–12–30 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:119624&r=env |
| By: | Syaiful Hifni ("Faculty of Economic and Business, University of Lambung Mangkurat, Banjarmasin, Indonesia" Author-2-Name: Rano Wijaya Author-2-Workplace-Name: "Faculty of Economic and Business, University of Lambung Mangkurat, Banjarmasin, Indonesia" Author-3-Name: Atma Hayat Author-3-Workplace-Name: "Faculty of Economic and Business, University of Lambung Mangkurat, Banjarmasin, Indonesia" Author-4-Name: Zakhyadi Ariffin Author-4-Workplace-Name: "Faculty of Economic and Business, University of Lambung Mangkurat, Banjarmasin, Indonesia" Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:) |
| Abstract: | "Objective - This research aims to examine the role of the five reporting bottom lines in explaining the implementation communication of integrated reporting towards sustainable development management accountability. Methodology/Technique - We conducted research as a mixed method, through a survey using a questionnaire for 155 respondents as stakeholders in the context of sustainable development management accountability. This research occupied path analysis tools and informational analysis for the data obtained through semi-structured interviews. Findings - The results showed that the first structural equation, which includes the triple bottom line, governance bottom line, and empowerment bottom line, is related to implementation integrated reporting . Then, the second structural relationship showed the implementation of , triple bottom line, governance bottom line, and empowerment bottom line, has a connection towards sustainable development management accountability within the achievement of SDGs within the four pillars of the 17 goals of the SDGs. Novelty - This research provides insight by evidence that the five reporting bottom lines theory with a voluntary initiative using the 5 STAR reporting index can also be applied within regional government organizations. This research is helpful for the regional government to meet the contemporary reporting systems and to strengthen the accountability of regional action plans of regional governments as part of a commitment to achieve sustainable development nationally and globally. Type of Paper - Empirical" |
| Keywords: | five reporting bottom lines, implementation communication, integrated reporting, sustainable development management accountability |
| JEL: | M40 M49 |
| Date: | 2023–12–31 |
| URL: | http://d.repec.org/n?u=RePEc:gtr:gatrjs:afr228&r=env |
| By: | Souad Lajili Jarjir (IRG - Institut de Recherche en Gestion - UPEC UP12 - Université Paris-Est Créteil Val-de-Marne - Paris 12 - Université Gustave Eiffel); Martin Lebelle; Syrine Sassi |
| Date: | 2022–02 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03428710&r=env |
| By: | Valērijs Dombrovskis (Faculty of Business and Economics, RISEBA University of Applied Science, Latvia Author-2-Name: Nellija Titova Author-2-Workplace-Name: PhD oec. cand., Vice-Rector for Development, RISEBA University of Applied Sciences, Riga, Latvia. Author-3-Name: Jeļena Ļevina Author-3-Workplace-Name: Dr. psych., leading researcher, European Social Fund Project No. 9.1.3.0/16/I/001 "Raising the Efficiency of Resocialization System, " Riga, Latvia. Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:) |
| Abstract: | "Objective - This study delved into the intricate dynamics between individuals' psychological well-being and their roles within the corporate realm. Methodology/Technique - By scrutinizing the potential impact of personality types on adopting sustainable corporate strategies, the research identified six distinct personality types grounded in autonomy and self-control factors. Employing the Ryff scales of psychological well-being, the study engaged 1, 110 residents of Latvia, unearthing valuable insights into the interplay between individual well-being and the successful implementation of sustainable corporate strategies. Finding - These findings contribute a unique perspective to existing literature, deepening our comprehension of how diverse personality types influence and respond to sustainability initiatives. Novelty - The research, thus, guides the formulation of more effective strategies and fosters a corporate culture that embraces sustainability as a fundamental value. Type of Paper - Empirical" |
| Keywords: | Typology, Personality types, Autonomy, Self-control, Sustainable corporate strategies. |
| JEL: | M14 I12 Q56 D23 O15 |
| Date: | 2023–12–31 |
| URL: | http://d.repec.org/n?u=RePEc:gtr:gatrjs:gjbssr639&r=env |
| By: | Thiago Fonseca Morello Ramalho da Silva; Paula Carvalho Pereda; Ana Carolina M. Pessoa; Liana O. Anderson |
| Abstract: | Previous studies estimating the effect of the creation of protected areas (PAs) on forest conservation suffer from biases due to staggered protection and to unobservable drivers of protection’s effectiveness. We address these biases by using a cohort-time refined effect estimator in an event study with Amazon Basin data from 2003 to 2020. Which also unveils meaningful dynamic patterns that remained so far hidden in previous papers’ aggregate effects. Our findings show that PAs’ effects on deforestation and fires were at least halved by the aforementioned biases, being also deflated in 13% and inflated in 16%, respectively, by the failure to control for concomitant and synergistic anti-deforestation policies. We also found strong evidence of forward-looking behaviour by deforesters, with deforestation becoming larger inside protected land two years before protection. This suggests that local agents rush to deforest after learning that the likelihood of being sanctioned will rise with protection. A gradual increase of the effect with the ageing of PAs confirmed that enforcing protection is subject to learning. Also notably, effects were heterogeneous. Whereas both moderately and severely restricted PAs avoided fires, only severely restricted avoided deforestation. In addition, whereas neither national nor subnational conservation unit PAs have reduced deforestation, national units reduced fires but subnational increased them. Indigenous lands reduced deforestation and fires. Results urge policymakers to plan the creation of PAs not merely seeking to change the tenure of land but mainly to align expectations of deforesters to national conservation goals. |
| Keywords: | differences-in-differences; staggered treatment; event study; matching; protected areas; deforestation |
| JEL: | C21 Q58 |
| Date: | 2024–01–09 |
| URL: | http://d.repec.org/n?u=RePEc:spa:wpaper:2024wpecon2&r=env |
| By: | Shivam Gupta (NEOMA - Neoma Business School); Sachin Modgil (IMI Kolkata - International Management Institute); Ajay Kumar (EM - emlyon business school); Uthayasankar Sivarajah (University of Bradford); Zahir Irani (University of Bradford) |
| Abstract: | "Natural disasters are often unpredictable and therefore there is a need for quick and effective response to save lives and infrastructure. Hence, this study is aimed at achieving timely, anticipated and effective response throughout the cycle of a disaster, extreme weather and emergency operations management with the help of advanced technologies. This study proposes a novel, evidence-based framework (4-AIDE) that highlights the role of artificial intelligence (AI) and cloud-based collaborative platforms in disaster, extreme weather and emergency situations. A qualitative approach underpinned by organizational information processing theory (OIPT) is employed to design, develop and conduct semi-structured interviews with 33 respondents having experience in AI and cloud computing industries during emergency and extreme weather situations. For analysing the collected data, axial, open and selective coding is used that further develop themes, propositions and an evidence-based framework. The study findings indicate that AI and cloud-based collaborative platforms offer a structured and logical approach to enable two-way, algorithm-based communication to collect, analyse and design effective management strategies for disaster and extreme weather situations. Managers of public systems or businesses can collect and analyse data to predict possible outcomes and take necessary actions in an extreme weather situation. Communities and societies can be more resilient by transmitting and receiving data to AI and cloud-based collaborative platforms. These actions can also help policymakers identify critical pockets and guide administration for their necessary preparation for unexpected, extreme weather, and emergency events." |
| Keywords: | Artificial intelligence, Cloud technologies, Disaster management, Extreme weather, Organizational information processing theory |
| Date: | 2022–09–22 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04325638&r=env |
| By: | Biehler, Nadine; Knapp, Nadine; Koch, Anne |
| Abstract: | Der Klimawandel führt sowohl zu wachsender Migration, Flucht und Vertreibung als auch zu unfreiwilliger Immobilisierung von Menschen. In den internationalen Klimaverhandlungen wurden die damit einhergehenden Herausforderungen und Kosten lange vernachlässigt. Bisherige Bemühungen, selbstbestimmte Mobilitätsentscheidungen auch im Kontext von Klimawandelfolgen zu ermöglichen, sind chronisch unterfinanziert. Einen wichtigen Ansatzpunkt, dies zu ändern, bietet die explizite Berücksichtigung menschlicher Mobilität im neu einzurichtenden Fonds für Verluste und Schäden. Finanzielle Ressourcen und Angebote technischer Unterstützung allein reichen aber nicht aus. Um der Zukunftsaufgabe klimabedingter menschlicher Mobilität zu begegnen, bedarf es zuallererst ambitionierter migrationspolitischer Lösungen, inklusive geplanter Umsiedlungen und der Beachtung von Klimawandelbetroffenheit in der Steuerung von Arbeitsmigration. |
| Keywords: | Klimawandel, Flucht, Migration, Vertreibung, Klimaverhandlungen, Verluste und Schäden, Human Mobility in the Context of Climate Change, HMCCC, COP28 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:swpakt:281028&r=env |
| By: | Qin, Botao; Shogren, Jason |
| Abstract: | Herein, we examine the optimal contract design when social norms have a disutility on landowners' participation in payment for environmental services programs. We find that a regulator can use less powerful monetary incentives to induce landowners to retire more land when the regulator appeals to social norms. Next, we consider the case when landowners determine the social norms of land retirement endogenously given that they live in small communities. We find that when there is asymmetric information about personal norms, the high-personal-norm type will retire more than the optimal amount of land and the low-personal-norm type will retire less than the optimal amount of land. We also explore when there is asymmetric information about landowners' sensitivities to social norms. We find that the optimal contract design depends on the relative magnitude of landowners' personal norms and the expected social norms. The results differ from the standard mechanism design literature. |
| Keywords: | Social norms, Mechanism design, Payment for environmental services, Asymmetric information |
| JEL: | D82 D91 Q57 |
| Date: | 2023–05–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:112878&r=env |
| By: | Kohnert, Dirk |
| Abstract: | The African continent is increasingly becoming a battleground in the race between superpowers for access to critical minerals needed for the 'Green Revolution', such as rare earth minerals (REE). Companies from China, the USA and Russia play a major role. In most cases, critical minerals are mined by international mining companies supported by their governments and organizing complex global value chains. So far, China has dominated supply chains and has secured mining contracts across sub-Saharan Africa (SSA). Currently, China produces 58% of all REEs worldwide. It is the main importer of minerals from Africa, with mineral exports from sub-Saharan Africa to China totalling USD 10 bn in 2019. Its dominance of the global rare earths market is rooted in politics, not geography. Rare earths are neither that rare nor that concentrated in China. Beijing has adopted a strategy of imports, dumping and control of rare earths that is hardly consistent with WTO rules. Therefore, in June 2022, a newly founded 'Minerals Security Partnership', consisting of the USA, the EU, Great Britain and other Western industrialized countries, invited mineral-rich African countries to counter Chinese dominance. These included resource-rich countries such as South Africa, Botswana, Angola, Mozambique, Namibia, Tanzania, Zambia, Uganda and the Democratic Republic of Congo. The West's push became even more urgent after Beijing imposed export controls on the strategic metals gallium and germanium in July 2023, sparking global fears that China could be next to block exports of rare earth or processing technology. Because African markets are small, they are forced to rely on foreign financing. However, so far, foreign direct investment in rare earth production has confirmed the 'pollution haven' hypothesis about the environmentally harmful effects of FDI flowing into the affected countries. Although the full potential of rare earths in SSA has remained largely untapped due to low exploration, the dark side of the energy transition is becoming increasingly visible. These include pollution of soil, air and water as well as inadequate disposal of toxic residues and intensive water and energy use, occupational and environmental risks, child labour and sexual abuse as well as corruption and armed conflicts. In August 2023, Nigeria, Africa's largest economy, suspended certain illegal Chinese mining activities within its borders, including the activities of Ruitai Mining Company due to its involvement in illegal titanium ore mining. Namibia and the DR Congo followed suit. |
| Keywords: | terres rares; transition énergétique; réchauffement climatique; pollution; marchés émergents; Afrique subsaharienne; UE; Minerals Security Partnership; Afrique du Sud; Nigeria; RD Congo; études africaines; |
| JEL: | D24 D43 D52 E23 F18 F23 F51 F63 F64 L13 L61 L63 L72 N17 N57 Q33 Q53 Z13 |
| Date: | 2024–01–11 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:119767&r=env |
| By: | Jurado, Alejandro; Cabrera, Guadalupe; del Castillo, Gonzalo |
| Abstract: | En 2021 la Ciudad Autónoma de Buenos Aires promulgó la Ley marco de economía circular (ley núm. 6468), en la que se establecieron los fundamentos y las directrices para la implementación de la economía circular en su territorio a través del diseño de una estrategia transversal, lo que representa un compromiso con los Objetivos de Desarrollo Sostenible de la Agenda 2030 para el Desarrollo Sostenible y la agenda BA Carbono Neutral 2050. En este contexto, este análisis busca ser una herramienta útil para acompañar el proceso de elaboración de la primera estrategia de economía circular para la Ciudad Autónoma de Buenos Aires. Se presenta aquí un diagnóstico de las cadenas de valor con mayor potencial para adoptar prácticas de economía circular y se ofrecen lineamientos para la toma de decisiones en el futuro. |
| Date: | 2023–12–04 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col022:68717&r=env |
| By: | PIDE (Pakistan Institute of Development Economics) |
| Abstract: | Federal annual budget for ï¬ scal year 2023-24 has laid out important allocations and objectives, marking a signiï¬ cant milestone in the process of crucial economic decision-making. The PIDE MacroPolicy Lab has conducted a thorough evaluation of the budget proposal, leveraging their expertise to offer invaluable insights and recommendations. The Lab’s analysis focuses on optimizing resource allocation, addressing socio-economic challenges, and fostering sustainable development. By incorporating the Lab’s analysis into the decision-making process, the government can effectively maximize the budget’s impact and ensure its alignment with national goals. |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:pid:rrepot:2023:3&r=env |
| By: | Kaufmann, Marc; Andre, Peter; Kîoszegi, Botond |
| Abstract: | Many consumers care about climate change and other externalities associated with their purchases. We analyze the behavior and market effects of such "socially responsible consumers" in three parts. First, we develop a flexible theoretical framework to study competitive equilibria with rational consequentialist consumers. In violation of price taking, equilibrium feedback nontrivially dampens a consumer's mitigation efforts, undermining responsible behavior. This leads to a new type of market failure, where even consumers who fully "internalize the externality" overconsume externality-generating goods. At the same time, socially responsible consumers change the relative effectiveness of taxes, caps, and other policies in lowering the externality. Second, since consumer beliefs about and preferences over dampening play a crucial role in our framework, we investigate them empirically via a tailored survey. Consistent with our model, consumers are predominantly consequentialist, and on average believe in dampening. Inconsistent with our model, however, many consumers fail to anticipate dampening. Third, therefore, we analyze how such "naive" consumers modify our theoretical conclusions. Naive consumers behave more responsibly than rational consumers in a single-good economy, but may behave less responsibly in a multi-good economy with cross-market spillovers. A mix of naive and rational consumers may yield the worst outcomes. |
| Keywords: | socially responsible consumers, social preferences, climate change, externalities, competitive equilibrium, regulation, taxes, caps |
| JEL: | D01 D11 D50 D62 D64 D91 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:safewp:280964&r=env |
| By: | Aramendis, Rafael H.; Mondaini, Andrés O.; Rodríguez, Adrián G. |
| Abstract: | En este documento se destaca la importancia de disminuir la heterogeneidad en materia de regulación de bioinsumos; articular los instrumentos de política pública que promuevan su utilización; orientar las actividades de investigación, desarrollo e innovación (I+D+i) vinculadas a los bioinsumos, de modo que se reconozcan las características habilitantes y condicionantes de cada territorio; fomentar el desarrollo de la infraestructura de escalamiento y producción comercial para suplir la demanda, y resolver las cuestiones regulatorias relacionadas con el medio ambiente y la salud humana. Asimismo, se hace hincapié en la necesidad de promover alianzas entre los institutos nacionales de investigación agropecuaria, el sector académico y el sector privado, así como de sistematizar las lecciones aprendidas de las iniciativas para la producción de bioinsumos puestas en marcha en el pasado y de desarrollar estrategias específicas para fomentar el desarrollo de bioinsumos que propicien, de manera integral y transversal, tanto la investigación, el desarrollo y la innovación de la producción como su comercialización. También se sostiene que es preciso vincular las estrategias relacionadas con el desarrollo de bioinsumos con las metas agrícolas, ambientales, de desarrollo productivo, de desarrollo sostenible y de ciencia y tecnología, e incorporar la promoción del desarrollo y el uso de bioinsumos como una parte integral clave de las estrategias de bioeconomía, de las metas ambientales en el marco del Acuerdo de París y de un conjunto de soluciones basadas en la naturaleza. |
| Date: | 2023–12–01 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col022:68714&r=env |
| By: | Avotra Narindrajanahary; Olivia Ricci |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:tep:tepprr:rr23-11&r=env |
| By: | Gohdes, N.Nicholas; Simshauser, P.; Wilson, C. |
| Abstract: | Energy markets were designed to maximise productive, allocative and dynamic efficiency. Although renewables have become the dominant investment in deregulated energy markets, decarbonisation may not proceed at a pace consistent with the aspirations of policymakers. This has led governments in a number of jurisdictions to prime markets through ‘Contracts for- Differences’ (CfDs) or Power Purchase Agreements (PPAs), thus bringing forward investment and decarbonisation efforts. The war in Ukraine and its adverse impact on energy prices only emphasises a sense of urgency on an energy security dimension. Variable Renewable Energy (VRE) projects in Australia are typically underpinned by run-of-plant PPAs, but an emerging trend has been rising number of semi-merchant projects whereby some level of spot market exposure is retained. In this article, we examine how and why the semi-merchant investment model has arisen along with the minimum contracted coverage for a bankable project financing. Results reveal for investors with a target of 60-65% debt within the capital structure, a revenue mix comprising 73-78% PPA coverage and 22-27% merchant plant exposure is viable and a tractable project financing. For policymakers seeking to elicit 5000 MW of VRE plant capacity, the auction need only offer ~3800MW of CfD’s capacity, which has the benefit of reducing taxpayer exposures (cf. on-market transactions). |
| Keywords: | PPAs, Renewable Energy, Counterparty Credit, Project Finance, Cost of Capital |
| Date: | 2023–12–29 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:2334&r=env |
| By: | Habermann, Birgit; Nehring, Ryan; Zhang, Wei; Hettiarachchi, Upeksha; Leñero, Eva Marina-Valencia; Falk, Thomas; Rietveld, Anne M.; Woltering, Lennart; Kumar, Praveen; Wang, Xinxin; Zhou, Yunyi; Chen, Kevin Z.; Pham, Thuy Thu; Rodríguez, Luz à ngela; Venegas, Martha |
| Abstract: | Innovation spaces are often dominated by linear, top-down approaches, with the transfer of technology being seen as the solution to many problems rather than trying to understand which innovation processes people are engaging with themselves. In other words, barriers to progress are typically viewed as issues of technology adoption, not as part of the innovation process itself. This study contributes to changing the paradigm by proposing a living lab approach, which considers innovation as an adaptive process where stakeholders co-produce knowledge and collaborate based on inclusivity and empowerment. Our specific concept for this approach is called a Living Lab for People (LL4P). This conceptual paper outlines a framework to guide the development of a LL4P that remains flexible to be adapted for specific sites. While we seek to identify common denominators, we recognize the necessity for such a framework to remain open enough to be adaptable for varied contexts. Consequently, the framework draws on the living lab literature but tailors existing approaches for sustainable food system transformation and puts people (men, women, and marginalized groups among key food system actors) at the center of innovation processes with a clear intention to address power and social inequity. We draw on specific cases in China, Colombia, Kenya and Vietnam as learning grounds for formulating LL4Ps through locally led innovation processes. Based on our learnings and consultations, we define a LL4P as an inclusive and diverse space for people to advance their socio-technical innovation processes and associated modes of governance within a facilitated organizational structure. The principles of LL4Ps include co-production, gender equality and social inclusion, governance and institutional sustainability to advance existing and novel innovation processes. The practical experiences from applying this framework in the four case studies indicate alternative pathways for transforming the food system toward a sustainable and socially equitable trajectory through the establishment of a LL4P. |
| Keywords: | food systems; sustainability; innovation; governance; social inclusion; inclusion; CHINA; EAST ASIA; COLOMBIA; LATIN AMERICA; SOUTH AMERICA; KENYA; EAST AFRICA; AFRICA SOUTH OF SAHARA; AFRICA; VIET NAM; VIETNAM; SOUTH EAST ASIA; ASIA |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:ifprid:2227&r=env |
| By: | Kosarev, Vladimir (Косарев, Владимир) (The Russian Presidential Academy of National Economy and Public Administration); Makarov, Andrey (Макаров, Андрей) (The Russian Presidential Academy of National Economy and Public Administration); Pleskachev, Yuriy (Плескачев, Юрий) (The Russian Presidential Academy of National Economy and Public Administration); Ponomarev, Yuriy (Пономарев, Юрий) (The Russian Presidential Academy of National Economy and Public Administration); Saprykin, Matvey (Сапрыкин, Матвей) (The Russian Presidential Academy of National Economy and Public Administration); Rostislav, Kirill (Ростислав, Кирилл) (The Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | National development goals achievability analysis, as well as the impact of national projects on the achievement of these goals, has been conducted on an ongoing basis since the signing of Presidential Decree No. 204 of 7.05.2018 and represents a complex task. This study presents an attempt to build such a model based on machine learning methods. Several important points need to be taken into account while building such model: the ability to effectively take into account nonlinear dependencies between factors, the possibility of using large arrays of heterogeneous incoming data, taking into account the influence of macroeconomic factors, as well as the direct results of national projects on indicators of national development goals. With the help of the constructed model, a shortterm forecast for 2022 was built for several indicators of national goals. As a part of the model this paper also analyzes the mutual impact of expenditures on national projects, as well as their contribution to the achievement of national development goals. |
| Date: | 2022–11–10 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:w20220301&r=env |
| By: | Edith Kouakou; Marielle Brunette; Richard Koenig; Philippe Delacote |
| Abstract: | The links between nitrogen uses and insurance are explored in this paper via the comparison of two insurance mechanisms: multi-peril crop insurance currently offered in France, and an index insurance based on area yields. A simulation of the two insurance systems on a data set at plot scale for two crops (maize and grassland) in the French department, Deux-S`evres, over the period 2010-2013, allowed us to define the most advantageous system in terms of yield loss coverage. Using the simulation result, we then modelled the relationship between nitrogen fertilisation and insurance eligibility for each of the two schemes based on a production function that links nitrogen to the yields. We found a mixed effect of nitrogen on insurance eligibility in both schemes for the two crops considered, suggesting that the effects of policies aimed at reducing nitrogen fertiliser use differ depending on the insurance system and the crop type. These results highlight the usefulness of crop-specific insurance contracts and bring insights to the current debates about crop insurance reform in various European countries, including France. |
| Keywords: | Crop Insurance; Nitrogen fertiliser; Risk; French Agriculture. |
| JEL: | Q14 G22 Q50 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:ulp:sbbeta:2023-38&r=env |
| By: | Nelozhin, Sergei |
| Abstract: | A compact publicist essay is devoted to the burning topic of current and future sys-tem transformation in Russia. Initially, the author substantiates the need for a complex solution to the problem of overcoming the current dead-end path of the national development. The central place in the book has occupied by a capacious analysis of the system transformational changes that have taken place in the main fields of social action within the modern period in after socialist Russia. On this ground, the possibility of a real alternative to the future development of the country on the path of overall sustainable progress has revealed, which will become achievable after the expected exhaustion of the current militaristic course by the Kremlin authorities. |
| Keywords: | Russia, system transformation, market transition, national elite, digitalization, sustainable development |
| JEL: | H0 O1 P0 P5 Z0 |
| Date: | 2023–12–08 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:119403&r=env |
| By: | Khan, Haider |
| Abstract: | The main purpose of this paper is to clarify some crucial links between the important ecological systems concept of Emergy and its physio-social accounting dialectically via a consistent interdependent System of Social Accounting. It is hoped that a brief but historically accurate background and description of Emergy, SAM, SAM-based and Emergy-based dialectically formulated fixed price multiplier models will be helpful to the increasing number of ecological systems researchers who are interested in using SAMs for both FPM and other types of socially and ecologically relevant modeling. |
| Keywords: | Dialectics of Abstract and Concrete, Emergy, Disequilibrium Dynamics, Dialectical SAM, Dialectical EmSAM, Socio-economic ecological accounting, EmSAM-based modeling |
| JEL: | C6 Q0 Q4 |
| Date: | 2024–01–02 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:119651&r=env |