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on Environmental Economics |
| By: | Yeboah, Samuel |
| Abstract: | This paper examines the potential of technological innovations in promoting sustainable agriculture in developing countries. With challenges like population growth, climate change, and limited resources, there is a critical need for efficient and environmentally sustainable farming practices. Technological innovations offer promising solutions to address these challenges and enhance resource efficiency while minimizing negative environmental impacts. The paper emphasizes the urgency of leveraging technology to overcome barriers faced by developing countries in agriculture. It discusses various technological innovations that can improve resource efficiency, including precision farming techniques, advanced irrigation systems, remote sensing, and data analytics. These innovations enable farmers to optimize resource utilization, reduce waste, and improve crop yields. Environmental sustainability in agriculture is also highlighted, with a focus on technological solutions to minimize soil degradation, water pollution, and greenhouse gas emissions. The paper explores eco-friendly practices such as organic farming, agroforestry, and biopesticides that can be implemented using technology to promote sustainability. Challenges to adopting technological innovations in developing countries are discussed, such as limited access to technology, lack of infrastructure, and financial constraints. The paper emphasizes the need for supportive policies, capacity building, and partnerships to facilitate technology transfer and widespread adoption. Overall, the paper advocates for harnessing the power of technological innovations to enhance resource efficiency and environmental sustainability in agriculture. It calls for tailored approaches, farmer empowerment, and knowledge sharing. Collaboration among governments, research institutions, private sectors, and civil society is essential to create an enabling environment for technology-driven sustainable agriculture. The findings underscore the potential of technological innovations to contribute to food security, poverty alleviation, and resilient livelihoods in developing countries. By embracing these innovations and addressing associated challenges, developing countries can unlock their agricultural potential and create a sustainable future. |
| Keywords: | technological innovations, sustainable agriculture, developing countries, resource efficiency, environmental sustainability |
| JEL: | O13 Q01 Q16 Q55 |
| Date: | 2023–07–10 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:118215&r=env |
| By: | Ogutu B. Osoro; Edward J. Oughton; Andrew R. Wilson; Akhil Rao |
| Abstract: | The growth of mega-constellations is rapidly increasing the number of rocket launches required to place new satellites in space. While Low Earth Orbit (LEO) broadband satellites help to connect unconnected communities and achieve the Sustainable Development Goals, there are also a range of negative environmental externalities, from the burning of rocket fuels and resulting environmental emissions. We present sustainability analytics for phase 1 of the three main LEO constellations including Amazon Kuiper (3, 236 satellites), OneWeb (648 satellites), and SpaceX Starlink (4, 425 satellites). In baseline scenarios over five years, we find a per subscriber carbon dioxide equivalent (CO$_2$eq) of 0.70$\pm$0.34 tonnes for Kuiper, 1.41$\pm$0.71 tonnes for OneWeb and 0.47$\pm$0.15 tonnes CO$_2$eq/subscriber for Starlink. However, in the worst-case emissions scenario these values increase to 3.02$\pm$1.48 tonnes for Kuiper, 1.7$\pm$0.71 tonnes for OneWeb and 1.04$\pm$0.33 tonnes CO$_2$eq/subscriber for Starlink, more than 31-91 times higher than equivalent terrestrial mobile broadband. Importantly, phase 2 constellations propose to increase the number of satellites by an order-of-magnitude higher, highlighting the pressing need to mitigate negative environmental impacts. Strategic choices in rocket design and fuel options can help to substantially mitigate negative sustainability impacts. |
| Date: | 2023–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2309.02338&r=env |
| By: | Kugelberg, Susanna (Copenhagen Business School); Borrás, Susana (Copenhagen Business School) |
| Abstract: | This paper is a teaching case study written for educational purposes. The case brings forward a real-life situation of an organization that is engaged in the exciting but also risky journey of implementing a green innovation at a large scale. The case is written in a way that allows students to reflect and think about the organizational and leadership challenges and opportunities involved. The teacher can activate these reflections in the context of various possible theoretical and analytical frameworks, in a number of possible different courses. The case is about Exergi, the main utility company producing district heating in Stockholm. After successfully transitioning from coal to bio-energy sources, since 2020 Exergi has embarked on a new and far more ambitious venture: Bioenergy Carbon Capture and Storage (BECCS). This technology captures CO2 emissions from biomass combustion and stores them, potentially resulting in negative emissions. BECCS plays a central role in IPCC mitigation pathways and Exergi has recognized an opportunity, but venturing into this uncharted territory presents numerous challenges. BECCS is a new and untested technology at an industrial scale, requiring substantial investments, and a market for selling carbon removal certificates (CRC) that does not exist yet. Though promising for reaching net zero targets in time, the viability of BECCS for Exergi depends on a supportive regulatory framework, cross-border cooperation, and the creation of a CRC market. To navigate these challenges, Exergi relies on creating an innovative organizational culture as well as mobilizing external stakeholders. Hence, CEO Anders Egelrud has hired individuals with entrepreneurial mindsets, and sought external expertise as well as creating strong networks and communication approach. Yet, some internal tensions have also come to the fore, due to the rapid internal dynamics. Overall, Exergi's transition from coal to BECCS reflects the commitment to sustainable practices by an incumbent, and its willingness to size new opportunities. The company's success driving this transformation forward hinges on many events coming together, both external and internal to the firm. |
| Keywords: | climate mitigation; green transitions; eco-innovation; sustainability; capacity; dynamic capabilities; utilities; energy; incumbent; district heating; Sweden; Stockholm; carbon capture; bioenergy; biomass; leadership; net zero; climate neutrality; transformative innovation |
| JEL: | O31 O33 O38 O44 Q01 Q16 Q55 Q58 |
| Date: | 2023–09–11 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:lucirc:2023_007&r=env |
| By: | naryono, endang (STIE PASIM SUKABUMI) |
| Abstract: | Population growth, industrialization, mining and plantations which are developing at a very high rate have had a very extraordinary impact on human survival, one of which is the clean water crisis, with the reason that economic development green lands have become settlements and offices, mountains have been dredged for minerals to be used as mines and what's sad is that forests are being burned to open plantations and what's worse is that forest burning is being carried out by big companies not by small communities and the impact is being felt now, the rivers are black because of industrial waste, the sea is filled with household waste and fog. the excruciating smoke caused by forest fires has resulted in losses for the community. One of the impacts that is currently being felt is the crisis of clean water for consumption. The long drought resulted in reduced water absorption as a result of which farmers could not plant rice or even failed their crops due to drought. Overlapping inter-sectoral regulations, indecisive laws and low public awareness of the environment have resulted in incalculable environmental pollution and natural damage. |
| Date: | 2023–08–24 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:c8spf&r=env |
| By: | Yoo, Yiseon (Korea Institute for Industrial Economics and Trade) |
| Abstract: | In Korea, the push to achieve carbon neutrality and reach net-zero carbon emissions by 2050 constitutes a monumental paradigm shift, and efforts to facilitate this momentous change are poised to exert a significant impact on the economy, industry, and society as a whole. Realizing Korea’s national carbon neutrality vision requires wholesale changes to the economy, industry, and even the daily lives of everyday people. And in the pursuit of net-zero, these changes will not be limited to specific sectors or technologies, and are likely to develop and evolve in diverse ways. Converting the existing carbon-intensive industrial structure to a low-carbon or zero-carbon economy will necessitate major innovations across multiple sectors, given the role, scope, and influence of energy — the principal source of carbon emissions — in production and consumption. Korea’s 2050 national carbon neutral strategy designates the “region” as the primary geographic and administrative unit in which carbon neutrality measures are to be implemented and net-zero ultimately realized. The Korean government has emphasized the importance of regional areas in promoting carbon neutrality, stating that “regions are spaces where economic, social, and life changes take place, and local governments are the actual implementers of carbon neutral policies by sector.” To aid in evaluating the ability of any given region to competently implement net-zero policies, for this study we design and build a new indicator, the Carbon-neutral Policy Capacity Index (CPCI). This tool is designed to be used in evaluating regional carbon neutrality policy implementation capacity. |
| Keywords: | net-zero; carbon neutrality; Carbon Neutral Capacity Index; CPCI; environmental economics; environmental policy; carbon policy; carbon policy capacity; carbon policy implementation; local government policy implementation; carbon emissions; greenhouse gases; GHGs; mitigation; adaptation; Korea |
| JEL: | O20 O25 Q28 Q38 Q48 Q50 Q52 Q53 Q54 Q56 Q58 |
| Date: | 2023–08–30 |
| URL: | http://d.repec.org/n?u=RePEc:ris:kieter:2023_020&r=env |
| By: | Bruno N. Ibekilo (Chukwuemeka Odumegwu Ojukwu University, Nigeria); Chukwunonso Ekesiobi (Chukwuemeka Odumegwu Ojukwu University, Nigeria); Precious M. Emmanuel (University of Ibadan, Oyo State, Nigeria) |
| Abstract: | The pace of urbanisation, the intensity of energy consumption, and the quality of environmental regulation level pose a severe threat to environmental sustainability in Africa. Hence, we examine the role of regulatory quality on environmental pollution through urbanisation and energy consumption channel in 33 African nations between 1996 and 2020. Our study considers cross-sectional dependence in Africa; as a result, we employ the Augmented Mean Group (AMG) method and Common Correlated Effect Mean Group (CCEMG) for a robustness check to analyse the panel series. The study finds that (i) urbanisation increases environmental pollution, (ii) energy consumption accelerates environmental degradation, (iii) regulatory quality can partially mediate pollution in Africa via urbanisation and energy consumption channels, and (iv) The interaction of regulatory quality with urbanisation and energy consumption, respectively reduce environmental pollution establishing a moderation effect. The study suggests that African countries tighten environmental regulatory policies to lessen carbon emissions and drive environmental sustainability towards achieving carbon neutrality by 2050. |
| Keywords: | Heterogeneous, Urbanisation, Energy consumption, Environmental pollution, Regulation, Africa |
| JEL: | C20 R00 Q40 Q52 L52 N57 |
| Date: | 2023–01 |
| URL: | http://d.repec.org/n?u=RePEc:agd:wpaper:23/056&r=env |
| By: | Stephen K. Dimnwobi (Nnamdi Azikiwe University, Awka, Nigeria); Kingsley I. Okere (Gregory University, Uturu, Nigeria); Favour C. Onuoha (Evangel University Akaeze, Nigeria); Benedict I. Uzoechina (Nnamdi Azikiwe University, Awka, Nigeria); Chukwunonso Ekesiobi (Chukwuemeka Odumegwu Ojukwu University, Nigeria); Ebele S. Nwokoye (Nnamdi Azikiwe University, Awka, Nigeria) |
| Abstract: | The Sub-Saharan Africa region is disproportionately affected by energy poverty and is considered highly vulnerable to the impacts of climate change. Therefore, addressing the pressing challenges of energy poverty and promoting environmental sustainability in this region is of paramount importance. Consequently, this study appraises the relationship between energy poverty and ecological preservation in Sub-Saharan Africa from 2005 to 2020, using government effectiveness and regulatory quality as moderating variables. A combination of energy poverty indicators and an index of energy poverty computed via the principal component analysis method were applied to identify the link between energy poverty and ecological sustainability. The instrumental variable generalized method of moment technique was applied to address the likelihood of endogeneity issues, and the Driscoll-Kraay approach was employed to check the consistency of the instrumental variable generalized method of moment method. Key findings indicate that energy poverty expands the ecological footprint in Sub-Saharan Africa, leading to ecological deterioration, while the interaction with government effectiveness and regulatory quality further deteriorates the environment. Subsequently, the study provides several recommendations to mitigate the influence of energy poverty on the environment. |
| Keywords: | Energy Poverty, Environmental Sustainability, Government Effectiveness, Regulatory Quality, Sub-Saharan Africa |
| Date: | 2023–01 |
| URL: | http://d.repec.org/n?u=RePEc:agd:wpaper:23/050&r=env |
| By: | Khondaker Golam Moazzem; Rafat Alam; Helen Mashiyat Preoty; Mashfiq Ahasan Hridoy |
| Abstract: | The existing geopolitical challenges have made the 49th G7 Summit -slated to be held in Japan – a major event for developing countries like Bangladesh. Besides, international civil societies demand ‘to develop a roadmap to operationalise the G7 leaders’ commitment to end government support for all fossil fuels through transition to renewable energy. Moreover, in the ‘22 summit, the G7 addressed climate change as a global challenge that requires urgent actions. And in 2023, G7 ministers agreed to speed up clean energy transition and set new targets for solar and wind capacity as a part of the goal to reach net-zero GHG emissions by 2050. |
| Keywords: | G7 Summit, Power and Energy Sector, Renewable Energy, Fossil Fuel, climate change, Clean energy, GHG emissions, Bangladesh Economy |
| Date: | 2023–05 |
| URL: | http://d.repec.org/n?u=RePEc:pdb:pbrief:41&r=env |
| By: | Frikk Nesje; Robert C. Schmidt; Moritz A. Drupp |
| Abstract: | Pricing the emissions of greenhouse gases is widely considered as key to tackling climate change. While carbon pricing schemes are proliferating, the vast majority of emissions is not yet covered. Designing carbon pricing policies requires navigating crucial design choices, such as addressing distributional and competitiveness concerns. Here, we present recommendations from a global survey of more than 400 experts to inform key design issues for carbon pricing policies. We find that almost twice as many experts favor a carbon tax over a cap-and-trade scheme for unilateral carbon pricing, and three-quarters strongly recommend using border carbon adjustment to address competitiveness concerns. Recommendations on the usage of revenues from carbon pricing exhibit a substantial degree of heterogeneity. While transfers to particularly affected households and equal lump sum transfers are among the options most favored, these account for only around 40 percent of recommendations. In terms of country and observable expert characteristics, we find that experts from countries with a higher GDP per capita recommend equal lump sum transfers to households more often, and that the clear preference for carbon taxes only exists in richer countries. While economists recommend lump-sum transfers to households and reducing distortionary taxes more often, non-economic experts rather recommend using revenue for governmental spending, such as on environmental public goods or renewable energy subsidies. Overall, our results provide insights for science and policy to improve the design of unilateral carbon pricing policies. |
| Keywords: | Q540, H230 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_10620&r=env |
| By: | Christoph Böhringer; Carsten Helm; Laura Schürer |
| Abstract: | The Nationally Determined Contributions (NDCs) under the Paris Agreement fall short of the abatement needed to reach the 2°C target. Emissions trading could be a “costless” means to reduce the ambition gap if countries used their gains from trade for additional abatement. However, this requires cooperative behavior. We show that with emissions trading, countries’ non-cooperative choices of emissions reduction contributions can lead to even more abatement, provided that these contributions may not be lower than initial NDCs. Intuitively, countries with high climate damages raise their contributions if they can meet them partly through abatement in countries with low abatement costs. |
| Keywords: | Paris Agreement, emissions trading, NDCs, game theory |
| JEL: | H23 Q54 Q56 Q58 C72 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_10624&r=env |
| By: | Bruno N. Ibekilo (Chukwuemeka Odumegwu Ojukwu University, Nigeria); Chukwunonso Ekesiobi (Chukwuemeka Odumegwu Ojukwu University, Nigeria); Precious M. Emmanuel (University of Ibadan, Oyo State, Nigeria) |
| Abstract: | The pace of urbanisation, the intensity of energy consumption, and the quality of environmental regulation level pose a severe threat to environmental sustainability in Africa. Hence, we examine the role of regulatory quality on environmental pollution through urbanisation and energy consumption channel in 33 African nations between 1996 and 2020. Our study considers cross-sectional dependence in Africa; as a result, we employ the Augmented Mean Group (AMG) method and Common Correlated Effect Mean Group (CCEMG) for a robustness check to analyse the panel series. The study finds that (i) urbanisation increases environmental pollution, (ii) energy consumption accelerates environmental degradation, (iii) regulatory quality can partially mediate pollution in Africa via urbanisation and energy consumption channels, and (iv) The interaction of regulatory quality with urbanisation and energy consumption, respectively reduce environmental pollution establishing a moderation effect. The study suggests that African countries tighten environmental regulatory policies to lessen carbon emissions and drive environmental sustainability towards achieving carbon neutrality by 2050. |
| Keywords: | Heterogeneous, Urbanisation, Energy consumption, Environmental pollution, Regulation, Africa |
| JEL: | C20 R00 Q40 Q52 L52 N57 |
| Date: | 2023–01 |
| URL: | http://d.repec.org/n?u=RePEc:exs:wpaper:23/056&r=env |
| By: | Marshall Burke; Mustafa Zahid; Noah Diffenbaugh; Solomon M. Hsiang |
| Abstract: | Climate change is generating demonstrable harm around the world. Political and legal efforts have sought to associate climate impacts with specific emissions, including in recent international policy discussion of Loss and Damage (L&D). However, no quantitative definition of L&D exists, nor does there exist a framework for linking specific emissions to specific damages. Here we develop such a framework, linking it explicitly to recent efforts to calculate the social cost of carbon dioxide (SC-CO2), and demonstrate its use in a variety of applications. We calculate that future damages from past emissions, one component of L&D, are at least an order of magnitude larger than historical damages from the same emissions, a more commonly discussed component of L&D: 1 ton of CO2 emitted in 1990 causes $4 in global cumulative discounted damages by 2020 and an additional $327 in discounted damages through 2100 (2% discount rate). These estimates of past and future damages from marginal emissions can be used to calculate L&D for a range of specific emitting activities: for instance, an individual taking one long-haul flight every year for the past decade will generate ~$5500 in damages through 2100, the emissions associated with multiple oil majors between 1988-2015 have already caused $50-200B of cumulative global economic damage by 2020, and CO2 emissions in the US since 1990 have caused ~$2T in global damage through 2020, with India ($293B) and Brazil ($167B) being harmed the most. Carbon removal offers an alternative to transfer payments for settling L&D, but we show that it becomes increasingly ineffective in limiting damages as the delay between emission and recapture increases. |
| JEL: | Q54 Q56 |
| Date: | 2023–09 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:31658&r=env |
| By: | Simplice A. Asongu (Johannesburg, South Africa); Cheikh T. Ndour (University Cheikh Anta Diop, Dakar, Senegal) |
| Abstract: | This article examines how good governance counteracts the effects of military expenditure on carbon emissions in forty African countries. The Generalized Method of Moments (GMM) is used to analyze time series data from 2010-2020. Military expenditure per capita is used to measure military expenditure per penetration, while CO2 emissions per capita are used as an indicator of environmental degradation. The following findings are established. First, from the non-interactive regressions, we find suggestive evidence that arms expenditure increases CO2 emissions. All indicators of good governance contribute to the increase of CO2 emissions. Second, with interactive regressions, we find that improved governance has a negative effect on CO2 emissions per capita. Third, the results are robust to a sensitivity check, considering the synergy effects of governance. This paper provides policy recommendations on low-carbon economies, military expenditure and governance that could help to ensure environmental sustainability by reducing CO2 emissions. In addition, the study findings can provide guidance to other developing countries seeking to implement effective approaches to environmental sustainability while strengthening climate change mitigation and adaptation measures. |
| Keywords: | climate change; Emission reduction; Environmental degradation; Sustainability; Econometric analysis |
| Date: | 2023–01 |
| URL: | http://d.repec.org/n?u=RePEc:exs:wpaper:23/051&r=env |
| By: | Daron Acemoglu; Philippe Aghion; Lint Barrage; David Hémous |
| Abstract: | We investigate the short- and long-term effects of a natural gas boom in an economy where energy can be produced with coal, natural gas, or clean sources and the direction of technology is endogenous. In the short run, a natural gas boom reduces carbon emissions by inducing substitution away from coal. Yet, the natural gas boom discourages innovation directed at clean energy, which delays and can even permanently prevent the energy transition to zero carbon. We formalize and quantitatively evaluate these forces using a benchmark model of directed technical change for the energy sector. Quantitatively, the technology response to the shale gas boom results in a significant increase in emissions as the US economy is pushed into a “fossil-fuel trap” where long-run innovations shift away from renewables. Overall, the shale gas boom reduces our measure of social welfare under laissez-faire, whereas, combined with carbon taxes and more generous green subsidies, it could have increased welfare substantially. |
| JEL: | O30 O41 O44 Q33 Q43 Q54 Q55 |
| Date: | 2023–09 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:31657&r=env |
| By: | Tsanko, Ilona |
| Abstract: | I study the impact of subsidies for Plug-in hybrid vehicles (PHEV) on carbon emissions. I show that subsidizing innovations without considering consumer behavior can harm the environment. I provide descriptive evidence on charging instances of PHEV and combine it with a structural model of demand for new passenger vehicles to evaluate the market outcomes had subsidies for PHEV not been in place. I show that PHEV subsidies were used by consumers to purchase larger and heavier vehicles and that consumers of PHEV seldom charge their vehicle. Taking into account the observed consumer behavior, I find that the elimination of subsidies for PHEV would have led to a yearly reduction of 167, 139 tons of carbon emissions which are equivalent to the yearly carbon emissions 52, 916 households emit due to energy consumption. |
| Keywords: | Environmental regulation, Substitution, Carbon emissions, Automobiles, Demand estimation |
| JEL: | D12 H23 H71 Q48 Q58 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:23033&r=env |
| By: | OECD |
| Abstract: | The frequency and severity of extreme wildfires are on the rise in Portugal, 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 Portugal’s 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 change adaptation, prevention, wildfire |
| Date: | 2023–09–20 |
| URL: | http://d.repec.org/n?u=RePEc:oec:envaac:37-en&r=env |
| By: | BARBOSA Ana Luisa (European Commission - JRC); SALVUCCI Raffaele (European Commission - JRC); RÓZSAI Máté (European Commission - JRC); NEUWAHL Frederik (European Commission - JRC); MUBAREKA Sarah (European Commission - JRC); HRISTOV Jordan (European Commission - JRC); BLUJDEA Viorel (European Commission - JRC); PILLI Roberto (European Commission - JRC); HILFERINK Maarten; WITZKE Heinz Peter; KESTING Monika; GRASSI Giacomo (European Commission - JRC); FIORESE Giulia (European Commission - JRC); PEREZ DOMINGUEZ Ignacio (European Commission - JRC) |
| Abstract: | Greenhouse gas (GHG) emissions from agriculture (mainly methane and nitrous oxide emissions) and from Land Use, Land-Use Change and Forestry (LULUCF, mainly carbon dioxide emissions) have been traditionally addressed by different legislative initiatives, estimated through different accounting rules and assessed by different modelling tools, despite potentially arising from the same land parcel. This has created a fragmented view of how climate change impacts land-based actions at both the EU and Member State level. The revised LULUCF regulation proposed by the European Commission, and recently approved by the European Parliament and the Council, represents a step for the progressive integration of the LULUCF and agriculture sectors into a the Agriculture, Forestry and Other Land Uses (AFOLU) sectors, under the EU's overall emission reduction targets. The aim of this report is to test the integration of several sectoral modelling tools in a consistent manner for assessing GHG emissions and removals of the European AFOLU sectors. This should allow for a better understanding of the complex interactions between these different sectoral components and to inform decision-making about the overall emission mitigation potential that these sectors can provide in the future. |
| Date: | 2023–06 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc132798&r=env |
| By: | Kaur, Amandeep (National Institute of Public Finance and Policy); Jha, Ajay Narayan (Government of India); Chakraborty, Lekha (National Institute of Public Finance and Policy) |
| Abstract: | Against the backdrop of G20, we analyze the climate responsive budgeting as a tool of transparency and accountability towards climate change commitments. The detail Demand for Grants across sectors in India is analyzed for the climate intensive allocations under the identified eight components of adaptation matrices, incorporating crop improvement and research, drought proofing and flood control, forest conservation, poverty alleviation and livelihood preservation, rural education and infrastructure, health, risk financing and disaster management, for the period 2020-21 to 2023-24 for adaptation accountability in India. We found that more than forty sectoral ministries have adaptation related expenditure, accounting for around 5 per cent of GDP in India. The fiscal marksmanship and PEFA scores related to these eight core areas revealed that there are deviations between Budget Estimates and Actual spending across sectors. The template for climate responsive budgeting attempted in the paper has policy contributions to make the climate responsive budgeting matrices sustainable and comparative across G20 countries. |
| Date: | 2023–09 |
| URL: | http://d.repec.org/n?u=RePEc:npf:wpaper:23/401&r=env |
| By: | Traeger, Christian P.; Meier, Felix D. |
| Abstract: | Solar geoengineering can cool our planet and counteract the warming caused by greenhouse gas emissions. Given current emission trajectories, solar geoengineering has the potential to save lives, reduce severe impacts on economic production, and save ecosystems and island states. Deterministic integrated assessment models tend to show major benefits from solar geoengineering, but are highly sensitive to the assumed and highly uncertain damages from solar geoengineering as well as the effectiveness of cooling the planet. We analyze how uncertainties and the anticipation of learning change the case for solar geoengineering in a world with an uncertain temperature response to carbon dioxide emissions. |
| Date: | 2023–09–05 |
| URL: | http://d.repec.org/n?u=RePEc:rff:dpaper:dp-23-37&r=env |
| By: | Nuno Cassola; Claudio Morana; Elisa Ossola |
| Abstract: | Climate change poses serious economic, financial, and social challenges to humanity, and green transition policies are now actively implemented in many industrialized countries. Whether financial markets price climate risks is critical to ensuring that the necessary funding flows into environmentally sound projects and that stranded assets risk is adequately managed. In this paper, we assess climate risks for the European stock market within the context of Alessi et al. (2023) greenness and transparency factor. We show that measures of returns spreads of green vs. brown investment might reflect climate risks and assets' exposition to systematic macro-financial risk factors. These latter factors should be filtered out to measure climate risks accurately. We show that climate risks are priced in the European stock market by focusing on aggregate, industry, and company-level data. We propose a market-based green rating procedure, which might be of particular interest to evaluate non-transparent and non-disclosing companies for which ESG information is unavailable. We illustrate its implementation using a sample of over 800 non-transparent firms. |
| Keywords: | Climate risk, environmental disclosure, macro-finance interface, unconditional factor models, asset pricing, European Union. |
| JEL: | G01 G11 G12 Q54 |
| Date: | 2023–09 |
| URL: | http://d.repec.org/n?u=RePEc:mib:wpaper:526&r=env |
| By: | Khondaker Golam Moazzem; Mashfiq Ahasan Hridoy |
| Abstract: | The vision of the draft policy is to develop an efficient, sustainable, secure, affordable, competitive, and environment-friendly power system across the country. The Government of Bangladesh (GoB) initially introduced the Bangladesh Renewable Energy Policy 2008 to promote the development and utilisation of renewable energy sources in the country. The policy was designed to support the country’s energy security, reduce its dependence on imported fossil fuels, and promote sustainable development. Recently, the Sustainable and Renewable Energy Development Authority (SREDA) under the Power Division of the Ministry of Power, Energy and Mineral Resources (MoPEMR) has initiated to revise the RE Policy 2008. As part of the initiative, a policy report has been developed with the title ‘Renewable Energy Policy (Draft) 2022’. |
| Keywords: | Power and Energy Sector, Renewable Energy, Energy sustainability, Clean energy |
| Date: | 2023–03 |
| URL: | http://d.repec.org/n?u=RePEc:pdb:pbrief:42&r=env |
| By: | Fernanda Ballesteros; Franziska Schütze; Catherine Marchewitz; Alexandra Hüttel |
| Abstract: | Various stakeholders are increasingly encouraging companies from the real economy to adopt measures facilitating their transition towards carbon neutrality. In this context, companies are expected to implement forward-looking strategies and climate-related reporting practices using scenario analysis aligned with scientific evidence and credible pathways to net zero carbon emissions. This paper examines the potential of scenario analysis as element for transitioning to net zero. We review and compare eight existing economy and sector level climate neutrality studies for Germany that were published between 2019 and 2021, analysing their respective applicability as a science-based reference scenario for companies to strengthen strategy development and forward-looking reporting practices. Using the logical framework approach, we assess relevant transition indicators like technologies, energy and resource efficiency, carbon pricing, and other steering instruments for the building and energy-intensive industry sectors. These indicators serve to measure progress towards climate neutrality and could be included as a crucial component in transition plans. We find that, although modelling approaches for the studies differ, they often converge on similar results that can partially be translated to indicators at the firm level and, thereby, may serve as reference scenario for their transition planning. |
| Keywords: | Climate change, scenarios analysis, decarbonization, sustainability reporting, transition plans, sectoral pathways, building sector, energy-intensive industry sector |
| JEL: | G32 M41 M48 L52 L61 L85 Q51 Q58 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwwpp:dp2048&r=env |
| By: | Francisco Serranito; Donatella Gatti; Gaye-Del Lo |
| Abstract: | This paper identifies the determinants of OECD Environmental Policy Stringency (EPS) index using a panel of 21 European countries for the period 2009-2019. If there is a large literature on the macroeconomic, political, and social determinants of EPS, the people’s attitudes or preferences toward environmental policies is still burgeoning. Thus, the main goal of this paper is to estimate the effects of people’s awareness regarding environmental issues on the EPS indicator. Due to the endogeneity of preferences, we have applied an instrumental variable framework to estimate ourempirical model. Our most important result is to show that individual environmental preferences have a positive and significant effect on the level of EPS indicator : on average, a rise in individual preferences of 10% in a country will increase its EPS indicator by 2.30%. Our results have important policy implications. |
| Keywords: | Environmental policy stringency; Environmental attitudes/concerns, inequality; environmental Kuznets curve; EU |
| JEL: | Q0 Q1 Q3 Q50 Q54 Q56 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:drm:wpaper:2023-25&r=env |
| By: | Xia, Senmao; Ling, Yantao; de Main, Leanne; Lim, Ming K.; Li, Gendao; Zhang, Peter; Cao, Mengqiu |
| Abstract: | This study investigates how consumers’ willingness-to-pay (WTP) for green products affects the decisions made by the green supply chain players. Through the application of game theory and uncertainty theory, our findings show that a higher consumer WTP for green products usually leads to a higher retail price and market share of green products, which motivates retailers and manufacturers to invest more in green technology. We also find that an increased WTP for green products can spur retailers to reduce the optimal green cost-sharing rate due to the pressure of increasing costs. In addition, we find that retailers are willing to lower the cost sharing rate when the confidence level increases. Regarding the contributions made by this study, it is one of the first to explore the transmission mechanisms involved in the management of the green supply chain by linking consumers’ WTP for green products to strategic decisions made by green supply chain players under conditions of uncertainty. Furthermore, our study could help green supply chain players to optimise the cost sharing mechanisms they use to generate more revenue, due to the increase in WTP for green products, which will in turn help to facilitate a low carbon economy. |
| Keywords: | cost sharing; game theory; Green supply chain management; low carbon economy; uncertainty theory; willingness-to-pay |
| JEL: | Q50 D10 |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:116895&r=env |
| By: | Felix Kubler (University of Zurich; Swiss Finance Institute) |
| Abstract: | In this paper, we consider a heterogeneous agents model of a production economy with uncertain climate change and evaluate the welfare gains from the introduction of securities that pay contingent on average surface temperature and total yearly emissions. Since different regions will be affected dramatically differently by climate change, potential welfare gains from sharing climate risk are large. In our benchmark calibration, the region most affected by climate change gains almost 10 percent in wealth equivalent welfare. This takes into account price effects and assumes no transfers. With transfers, the completion can be Pareto-improving, with the poorest region gaining more than 15 percent. We conduct a global sensitivity analysis where we consider a range of parameter values that are considerably more conservative than in the benchmark. We find that the result of significant welfare gains is robust, although they are, on average, much smaller than in our benchmark. By computing first-order Sobol’ indices, we demonstrate that the main driver of uncertainty is the standard deviation of the equilibrium climate sensitivity. |
| Keywords: | climate change, financial innovations, heterogeneous agents, risk-sharing, environmental policy |
| JEL: | C61 D52 D62 Q51 Q54 |
| Date: | 2023–09 |
| URL: | http://d.repec.org/n?u=RePEc:chf:rpseri:rp2376&r=env |
| By: | Magdalena Cortina; Carlos Madeira |
| Abstract: | We estimate real estate's exposure in Chile to five weather risks, including labor productivity loss due to heat, fires, floods, drought coastal deterioration as measured by the Chilean Climatic Risk Atlas (ARCLIM) and Climate Impact Explorer (CIE) sources. According to our joint ARCLIM-CIE indicator, we measure risk exposure for the appraisal value of all properties of 39% for Chile and 51%, 36%, 36% and 27% for the Central, North, Metropolitan and South macrozones, respectively. flooding is the greatest risk for Chile, followed by drought. We find that the CIE source underestimates the climate exposures in Chile relative to the ARCLIM measures, particularly for the flooding and drought risks. |
| Date: | 2023–04 |
| URL: | http://d.repec.org/n?u=RePEc:chb:bcchwp:976&r=env |
| By: | Congressional Budget Office |
| Abstract: | Flooding is expected to increase in the future as the effects of climate change increase. CBO examines how projected flood risk varies in two multiyear projection periods, one centered on 2020 and the other centered on 2050. |
| JEL: | Q54 |
| Date: | 2023–09–13 |
| URL: | http://d.repec.org/n?u=RePEc:cbo:report:58953&r=env |
| By: | Andreas G. F. Hoepner (University College Dublin); Ioannis Oikonomou (University of Reading); Zacharias Sautner (University of Zurich; Swiss Finance Institute; ECGI); Laura T. Starks (University of Texas at Austin); Xiaoyan Zhou (University of Oxford) |
| Abstract: | We show that engagement on environmental, social, and governance issues can benefit shareholders by reducing firms’ downside risks. We find that the risk reductions (measured using value at risk and lower partial moments) vary across engagement types and success rates. Engagement is most effective in lowering downside risk when addressing environmental topics (primarily climate change). Further, targets with large downside risk reductions exhibit a decrease in environmental incidents after the engagement. We estimate that the value at risk of engagement targets decreases by 9% of the standard deviation after successful engagements, relative to control firms. |
| Keywords: | ESG, Shareholder Activism, Downside Risk, Corporate Governance, Climate Change |
| JEL: | G32 M14 |
| Date: | 2023–09 |
| URL: | http://d.repec.org/n?u=RePEc:chf:rpseri:rp2377&r=env |
| By: | Lerner, Michael |
| Abstract: | The majority of U.S. states have set targets for renewable energy, but the prospects for meeting most of these goals hinge on the willingness of local governments to allow large-scale renewable energy projects in their communities. In this paper, I investigate how exposure to lobbying by wind developers and the actions of neighboring jurisdictions inform the adoption and design of rules for siting commercial wind farms. Using data collected from 1603 counties in 23 states, I find local policymakers are more likely to enact wind ordinances when they have more time to interact with wind developers and when neighboring counties have adopted wind ordinances or approved the construction of wind farms. I also observe that counties tend to adopt more stringent rules when more wind farms have been built in neighboring counties. This evidence suggests that efforts to scale up renewable energy generation may encounter increasing resistance from local governments. |
| Keywords: | climate change; comparative governance; developed countries; economic development; energy; innovation |
| JEL: | N0 |
| Date: | 2022–03–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:112757&r=env |
| By: | Asuamah Yeboah, Samuel |
| Abstract: | This systematic review explores the dynamic relationship between Foreign Direct Investment (FDI)-driven entrepreneurial ecosystems and the United Nations' Sustainable Development Goals (SDGs). FDI is recognized as a potent catalyst for global development, and its alignment with specific SDGs can create a transformative impact across various domains. By strategically harnessing FDI, countries can accelerate their progress towards achieving the SDGs and building a more inclusive and equitable future. The study identifies several key SDGs where FDI-driven entrepreneurial ecosystems play a pivotal role: SDG 1: No Poverty: FDI fosters economic growth, generates employment opportunities, and enhances labour productivity, consequently alleviating poverty. It contributes to improving wages, human capital development, and overall well-being. SDG 8: Decent Work and Economic Growth: FDI-supported ecosystems promote inclusive economic growth by creating jobs and enhancing working conditions. They boost local productivity, induce employment, and stimulate consumption. SDG 9: Industry, Innovation, and Infrastructure: FDI brings technological innovation, knowledge transfer, and advanced infrastructure, fostering innovation and enhancing local business competitiveness. SDG 10: Reduced Inequality: FDI empowers marginalized communities, enabling them to access resources, markets, and global networks, thus reducing inequality. SDG 17: Partnerships for the Goals: FDI-driven partnerships between foreign corporations and local startups leverage expertise, resources, and networks to collectively achieve various SDGs. Such collaborations aim to align with the principles and objectives of SDG 17. SDG 4: Quality Education: Multinational corporations' involvement in FDI can lead to educational initiatives, skill development programs, and technology transfers that enhance educational quality. SDG 13: Climate Action: FDI-driven innovation results in sustainable technologies, cleaner production processes, and environmental solutions contributing to climate action. SDG 16: Peace, Justice, and Strong Institutions: FDI promotes transparency, accountability, and ethical business practices, strengthening institutions and contributing to a stable business environment. SDG 5: Gender Equality: FDI-supported startups empower women entrepreneurs, enhance gender diversity in the workforce, and create opportunities for women's economic participation. SDG 11: Sustainable Cities and Communities: FDI-driven entrepreneurial ecosystems contribute to urban development through smart technologies, sustainable infrastructure, and innovative solutions. SDG 7: Affordable and Clean Energy: FDI plays a critical role in the adoption of clean energy technologies, supporting the transition to renewable energy sources. |
| Keywords: | Poverty Alleviation, Economic Growth, Innovation, Inequality Reduction, Partnerships, Quality Education, Climate Action, Strong Institutions, Gender Equality, Sustainable Urban Development, Clean Energy Adoption. |
| JEL: | F21 F23 O31 O32 O33 O38 O40 O41 O43 O44 O57 |
| Date: | 2023–07–20 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:118519&r=env |
| By: | Alexander Cochardt (University of St. Gallen); Stephan Heller (University of St. Gallen); Vitaly Orlov (University of St. Gallen; Swiss Finance Institute) |
| Abstract: | This paper investigates whether mutual funds that introduce sustainability-related buzzwords in their names actually shift their focus to sustainable investing following the name change. Relatively less successful funds tend to engage in such rebrandings to regain investor flows. Following the name change, funds improve their portfolio sustainability scores by imposing negative screens on poor-sustainability-performing firms. However, we find no evidence that such funds exert any commitment to improve firms’ sustainability practices through voting on environmental, social or governance proposals. The commitment to sustainability is even less present when their votes are more likely to be pivotal, consistent with greenwashing. |
| Keywords: | Mutual Funds, ESG, Greenwashing, Voting |
| JEL: | G11 G41 |
| Date: | 2023–08 |
| URL: | http://d.repec.org/n?u=RePEc:chf:rpseri:rp2364&r=env |
| By: | Tatsuyoshi Okimoto; Sumiko Takaoka |
| Abstract: | Does the market value the environmental, social, and governance (ESG) performance of firms in corporate bond credit spreads? In this study, we construct the firm-level corporate bond credit spread based on the ‘bottom-up’ approach and examine the relationship between corporate ESG performance and credit spreads. Our results indicate that the ESG performance significantly decreases the credit spreads and the effects of ESG performance increase with the recognition of the importance of ESG investing regardless of the pillar. Furthermore, our analysis suggests differential trends across the issuing firms’ credit quality. Specifically, the ESG performance has a much higher impact on the credit spreads for lowly-rated firms, implying that the information on higher ESG scores could be a stronger signal for higher sustainability for those firms that are considered to have higher default risk from the financial information. Within the E, S, and G pillars, the resource use category, human rights category, and management category respectively show the most prominent annual lowering effects. |
| Keywords: | Corporate bond spread, ESG investing, Sustainability |
| JEL: | G12 M14 Q56 |
| Date: | 2023–09 |
| URL: | http://d.repec.org/n?u=RePEc:een:camaaa:2023-44&r=env |
| By: | Violeta Neza (Faculty of Business, University "Aleksander Moisiu", Durrës); Edlira Llazo (Faculty of Business, University "Aleksander Moisiu", Durrës) |
| Abstract: | Technology is the main word of all the activities we carry out today, but the developments it has received in recent years have facilitated the way of searching and accessing information as well as obtaining the requested service in real time, avoiding unnecessary expenses and movements. In this way, in addition to achieving consumer satisfaction and changing consumer behavior influenced by technological developments, the application of e-services is a way to influence the development of a sustainable economy and the creation of green value, since through these online services the environmental pollution from the restriction of vehicle movements to receive offline services. This study has made use of secondary and primary data through a distributed questionnaire where only 150 questionnaires were valid for analysis. The study aims to highlight the effect of using online bank applications on consumer satisfaction and consumer behavior. The results of the study show that the e-services offered by second-level banks have significantly increased consumer satisfaction and positively influenced behavior by generating green value. |
| Keywords: | Technology, Consumer satisfaction, Consumer behaviour, Sustainable economy, Green value |
| JEL: | M31 M37 M39 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iefpro:13815899&r=env |
| By: | McEvoy, David; McGinty, Matthew; Cherry, Todd; Kroll, Stephan |
| Abstract: | The possibility of overshooting global emissions targets has triggered a public debate about the role solar geoengineering (SGE) - using technologies to reflect solar radiation away from Earth - may play in managing climate change. One major concern is that SGE technologies are relatively cheap, and could potentially be deployed by a single nation (the “free driver”) that could effectively control the global climate. Another concern is that SGE opportunities may alter countries’ incentives to cooperate on abatement. Here we develop a game-theoretic model to analyze how opportunities to deploy SGE impact global abatement and the effectiveness of international environmental agreements (IEAs) on climate change. We show that non-cooperative abatement levels may increase or decrease under the threat of SGE, depending on how damaging the free-driver’s level of deployment is on others. We also show the stability of IEAs that govern abatement is challenged by two competing strategic incentives. One is a familiar free-rider incentive, which is the benefit a country earns by leaving an agreement and lowering its abatement. The other incentive is the benefit a country earns by joining an agreement and increasing abatement in order to motivate the free-driver to reduce its level of deployment. We introduce the term anti-driver to describe this second incentive. Ultimately, we find that if the anti-driver incentives are high enough, the threat of SGE can expand both the depth (i.e., abatement level) and breadth (i.e., participation level) of stable IEAs compared to a world without SGE. |
| Date: | 2023–09–05 |
| URL: | http://d.repec.org/n?u=RePEc:rff:dpaper:dp-23-36&r=env |
| By: | Dang, Hai-Anh H.; Cong Nguyen, Minh; Trinh, Trong-Anh |
| Abstract: | Despite a vast literature documenting the harmful effects of climate change on various socioeconomic outcomes, little evidence exists on the global impacts of hotter temperature on poverty and inequality. Analysis of a new global panel dataset of subnational poverty in 134 countries finds that a one-degree Celsius increase in temperature leads to a 9.1 percent increase in poverty, using the US$1.90 daily poverty threshold. A similar increase in temperature causes a 1.4 percent increase in the Gini inequality index. The paper also finds negative effects of colder temperature on poverty and inequality. Yet, while poorer countries—particularly those in South Asia and Sub-Saharan Africa—are more affected by climate change, household adaptation could have mitigated some adverse effects in the long run. The findings provide relevant and timely inputs for the global fight against climate change as well as the current policy debate on the responsibilities of richer countries versus poorer countries. |
| Keywords: | climate change; temperature; poverty; inequality; subnational data; Knowledge for Change (KCP) grant |
| JEL: | Q54 I32 O10 |
| Date: | 2023–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:120156&r=env |
| By: | Hendrickson, Michael |
| Abstract: | This study presents an exploratory analysis of the current state of financing the implementation of quality education and resilient infrastructure in Antigua and Barbuda, Barbados and Saint Lucia. The study will analyze domestic funding sources, including government budgetary resources, and foreign sources, including loans and grants. It will examine strategies the region can adopt to leverage funding at scale, such as blended finance, innovative PPPs, ESG-driven FDI and syndicated loans. The study will also examine how the countries can improve the efficiency and effectiveness of financing to increase the impact per unit cost of spending. Th United Nations Sustainable Development Goals (SDGs) provide the most wide-ranging global strategy for achieving sustainable development. They integrate major socio-economic, political and environmental concerns. Anchored in the 5 Ps- people, planet, prosperity, peace and partnership, the SDGs provide a unified road map that considers trade-offs and complementarities in the development process. Caribbean countries have committed to the SDGs as a roadmap to guide their development (CARICOM Secretariat, 2017). In 2015, along with other Caribbean countries, Antigua and Barbuda, Barbados and Saint Lucia, the three countries analyzed in this study, identified 12 SDGs for priority action. These included SDGs 4 and 9, which will be the focus of this study (IISD, 2015). Since then, the three countries have been trying to integrate the SDGs into their - national development plans and strategies (ECLAC, 2017). Crucially, the countries recognize the need to implement the SDGs in an integrated and harmonized manner to optimize the use of resources and to realize beneficial synergies among goals. Moreover, a significant value added of the SDGs is that they promote a vision and strategy beyond the four-year election cycle in the countries, thereby entrenching commitment to long-term policies that advance sustainable development. |
| Date: | 2023–08–16 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col033:49056&r=env |
| By: | Felix Martini (Frankfurt School of Finance & Management); Zacharias Sautner (University of Zurich; Swiss Finance Institute); Sascha Steffen (Frankfurt School of Finance & Management); Carola Theunisz (Frankfurt School of Finance & Management) |
| Abstract: | We develop a bottom-up measure of U.S. banks' exposures to climate transition risks from the carbon footprint of their syndicated loan portfolios. The measure reveals significant variation in risk exposures across banks and over time. Bank exposures declined over time, especially since the Paris Agreement. This effect stems from a re-balancing of bank loan portfolios, with more lending to low-emission borrowers (not less lending to high-emission borrowers). Banks with higher risk exposures exhibit more climate-related disclosures in their earnings calls, but not in their Form 10-Ks. Risk exposures correlate with bank-level climate betas, which reflect the sensitivity of bank returns to the returns of a stranded asset index. |
| Keywords: | Climate transition risks, banking sector, syndicated loans |
| JEL: | G21 |
| Date: | 2023–08 |
| URL: | http://d.repec.org/n?u=RePEc:chf:rpseri:rp2366&r=env |
| By: | Bala, Govindasamy; Sushma, B.S.; Murthy, Indu K.; Ravindranath, N.H. |
| Abstract: | According to the latest IPCC Working Group I report (2021), changes in the climate in recent decades are widespread, rapid, intensifying, and unprecedented in at least the last 2, 000 years. The global mitigation efforts under the Paris Agreement have been inadequate to reach the target of stabilizing warming below 1.5°C. Thus, it is likely that interest in solar geoengineering (SG) as an additional option to address climate change may increase in coming years. The latest IPCC Working Group II report (2022) concludes that SG could offset some of the effects of increasing greenhouse gases (GHGs) on global and regional climate but also notes large uncertainties and risks involved in large-scale deployment of SG. In this context, we assess the need for promoting SG research in India. We conducted an expert opinion survey of mainly researchers and a few individuals from government departments and civil society members who have some level of expertise in climate change and knowledge of SG. A literature review, examination of funded research projects, and survey results indicate very limited research in India on SG, and even more limited social science research. SG research in India is largely focused on modeling the climate hazards, and government support for research (currently only from the Department of Science and Technology) is very limited.The survey indicates that a majority of experts in India believe that SG research should be a priority area, with overall support for a national policy focusing on modeling, risk and im-pact assessments, and policy analysis. A majority also indicate that the government departments should be the dominant funding agencies for research and international collaborations should be encouraged. The survey highlighted the need for transparency, public consultation, disclosure of all SG research, and monitoring by a government interministerial committee. Finally, respondents indicated a need for a governance protocol and international collaborations due to the risks involved and transboundary nature of impacts. |
| Date: | 2023–09–05 |
| URL: | http://d.repec.org/n?u=RePEc:rff:dpaper:dp-23-38&r=env |
| By: | Chimere O. Iheonu (University of Nigeria, Nsukka, Nigeria); Ekene ThankGod Emeka (University of Nigeria, Nsukka, Nigeria); Simplice A. Asongu (Johannesburg, South Africa); Princewill U. Okwoche (Benue State University, Makurdi, Nigeria) |
| Abstract: | This study complements existing literature by examining the short-run heterogeneous and long-run homogeneous impacts of foreign direct investment (FDI) and international trade on ecological footprints in 37 African countries for the period 1990 to 2019. Utilizing the pooled mean group estimator, our findings show considerable heterogeneity in the impact of FDI and international trade on ecological footprints in the short run. In particular, the findings revealed that while FDI increases ecological footprints in Botswana, Egypt, and Mauritania, it reduces ecological footprints in Algeria, Comoros, Gambia, and Togo. Furthermore, the findings revealed that international trade increases ecological footprints in Cameroon, Cote d'Ivoire, and Eswatini but reduces ecological footprints in Algeria, Mauritania, and Morocco. Nonetheless, the study finds that in the long run, FDI significantly reduces ecological footprints while international trade has no significant influence on the environment. The study further finds economic growth and population to be significant in propping up ecological footprints in the long run. Policy recommendations based on these findings are discussed. |
| Keywords: | Foreign Direct Investment, International Trade; Environmental Sustainability; Ecological Footprints; Pooled Mean Group |
| JEL: | C33 F18 F21 |
| Date: | 2023–01 |
| URL: | http://d.repec.org/n?u=RePEc:exs:wpaper:23/053&r=env |
| By: | Navaratne, Atharva |
| Abstract: | All things considered, integrating sustainability into marketing strategies has the potential to profoundly shape consumer perception and brand loyalty. By aligning with consumer values and addressing social and environmental concerns, brands can forge deeper connections and drive positive impact. The integration of sustainability in marketing is marked by challenges which necessitate genuine commitment, transparency, and adaptability. As the discourse on sustainability continues to evolve, the strategic interplay between brands and consumer still remains pivotal in shaping a more responsible marketplace. |
| Date: | 2023–08–25 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:djtvz&r=env |
| By: | Olivier Deschenes; Christopher Malloy; Gavin G. MacDonald |
| Abstract: | Despite a 30-year long history, Renewable Portfolio Standards (RPS) remain controversial and debates continue to surround their efficacy in leading the low-carbon transition in the electricity sector. Contributing to the ongoing debates is the lack of definitive causal evidence on their impact on investments in renewable capacity and generation. This paper provides the most detailed analysis to date of the impact of RPSs on renewable electricity capacity investments and on generation. We use state-level data from 1990-2019 and recent econometric methods designed to address dynamic and heterogeneous treatment effects in a staggered adoption panel data design. We find that, on average, RPS policies increase wind generation capacity by 600-1200 MW, a 44% increase, but have no significant effect on investments in solar capacity. Additionally, we demonstrate that RPSs have slow dynamic effects: most of the capacity additions occur 5 years after RPS implementation. Estimates for wind and solar electricity generation mimic those for capacity investments. We also find similar results using an alternate treatment definition that allows states to meet their RPS requirements with pre-existing renewable generation and renewable generation from nearby states. |
| JEL: | Q20 Q42 Q50 |
| Date: | 2023–08 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:31568&r=env |
| By: | MT Musakwa (University of South Africa); N.M. Odhiambo (University of South Africa) |
| Abstract: | This study investigated the impact of energy consumption on human development in South Africa, using annual data from 1990 to 2019. The study used disaggregated data on energy measures namely: oil products consumption; electricity consumption; renewable energy consumption; natural gas; coal and lignite; and total energy consumption at an aggregate level. Human Development Index (HDI) was used as a measure of human development. By employing autoregressive distributed lag bounds test to cointegration and error correction model, the study found the impact of energy consumption on human development to be positive in the short run when renewable energy was used as a proxy, but insignificant in the long run. When oil products, natural gas and total energy were used as proxies for energy, a negative impact was confirmed in the short run, while an insignificant impact was confirmed in the long run. When electricity, coal and lignite were used as proxies for energy, an insignificant impact was confirmed, irrespective of the time frame considered. The results revealed that the positive impact of renewable energy on human development is not big enough to offset the negative impact of other energy sources. This suggests that South Africa has to continue to expand renewable energy if a positive impact of energy on human development is to be realised. |
| Date: | 2021–10 |
| URL: | http://d.repec.org/n?u=RePEc:afa:wpaper:aesri-2021-12&r=env |
| By: | Matthew Burlingame; Dennis Guignet; Matthew Heberling; Michael Papenfus |
| Abstract: | This study provides step-by-step guidance for practitioners and local stakeholders on how to use existing study results to conduct benefit transfer, and ultimately make informed predictions of how improvements in lake water clarity may benefit surrounding communities. The procedures are demonstrated using a publicly available meta-dataset developed by the U.S. Environmental Protection Agency, and a subsequent meta-analysis that synthesizes the literature of how improvements in water clarity impacts home values. The benefit transfer procedures are demonstrated using a case study of 14 large lakes in Kosciusko County, Indiana. Lake-specific average increases in home values, as well as the value of the housing stock in aggregate, are calculated for illustrative improvements in lake water clarity. This analysis provides a critical bridge to better connect high-quality, academic research with real-world policy analysis, and ultimately serves to better equip local governments and stakeholders to make more informed policy and land use decisions. Key Words: benefit transfer; hedonic; meta-analysis; property value; lake; water clarity |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:apl:wpaper:23-07&r=env |
| By: | Moustafa, Khaled (Founder & Editor of ArabiXiv) |
| Abstract: | Wildfires are increasingly a pressing global concern, necessitating innovative solutions to prevent them and combat their devastating effects. Here, I propose a novel concept—utilizing a network of Fire Suppression Aircrafts equipped with a continuous water supply system as “aerial aqueducts” —to revolutionize wildfire management. The proposed system's core advantage lies in its ability to rapidly and efficiently suppress fires, minimizing damage to both natural landscapes and human settlements. I’ll discuss key considerations, including technological feasibility, environmental impact, regulatory compliance, and adaptability. While challenges exist, the inherent adaptability of aircraft technology to inaccessible terrains and the parallels with existing firefighting methodologies make this solution applicable and promising. Rigorous testing and validation are required to ensure its functionality and safety. Ultimately, the concept underscores the potential for a proactive and efficient approach to tackling the growing wildfire threat worldwide. |
| Date: | 2023–08–22 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:t7qz8&r=env |
| By: | ANDREI, Dalina-Maria |
| Abstract: | This paper discusses the energy issue in the European Union and the EU’s progress on energy efficiency since the Energy Efficiency related Directive of 2012 (EED): (i) The energy consumption dynamic (primary and final energy consumption), (ii) Directives and other regulations adopted by the EU’s institutions between 2012-2022, for energy consumption and efficiency targets established for both the Union, on aggregate, and for its individual member states, (iii) The National Energy and Climate Plans (NECPs) face to corresponding 2020 accomplishments and to 2030 projections, (iv) The same 2030 forecasts in the long-term context of climate neutrality to be ensured up to 2050. All these will be approached below in our argumentation. Effective energy consumption data are retrieved from Eurostat and International Energy Agency (IEA). Optimism comes up for the 2030 perspective, since the 2020 specific performances was done, partly despite the recent COVID-19 pandemic related circumstances of 2020. A list of possible responses to some questions will conclude this paper: ‘How receptive will the member states be in the future for transposing the EU's energy efficiency ambitions into their own strategies?’ and ‘Will the European policies be rigorous enough, but also flexible to achieve long-term objectives?’. |
| Keywords: | energy efficiency, primary energy consumption, final energy consumption, energy targets, Green Deal. |
| JEL: | Q40 Q43 Q48 |
| Date: | 2023–05–29 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:118326&r=env |
| By: | Oliveira, Fernando S.; Ruiz Mora, Carlos |
| Abstract: | Investment in solar generation is essential to achieve EU climate neutrality by 2050. Using stochastic programming, we study the management of solar power plants considering trading in the spot and future markets, weather derivatives based on solar radiation, storage, and risk management. We provide a comparative study of two technologies: a concentrated solar power plant with thermal storage and a photovoltaic power plant with electrical batteries. The significant managerial contributions can be classified into four levels. First, regarding trading and generation decisions, we proved that: a) plants sell energy in the spot market during the night and store energy in the morning; b) storage happens at the same time as electricity is purchased in the spot market; c) in the Summer the plants sell more in the futures market; d) storage, in both types of technology, increases trading in futures and spot markets and creates value for generators. Second, regarding the use of options on solar radiation, we show that a) the value of put and call options depends on the expected solar radiation; b) the radiation option prices are correlated with generation and storage levels and with the anticipated trading in spot and futures markets; c) the optimal strategy is to sell calls and buy put options; d) generators with a storage system sell significantly more call options. Third, regarding risk aversion, we proved that: a) the higher the risk aversion, the more the generator sells in the futures market and the higher the number of purchased put contracts; b) the risk-adjusted profit from options trading is zero. Finally, in comparing both technologies, even though the operation and financial management patterns are similar, the photovoltaic power plant is more profitable, and the batteries create more value. |
| Keywords: | Decision Analysis; Risk; Natural Resources; Energy; Production-Scheduling; Applications |
| Date: | 2023–09–18 |
| URL: | http://d.repec.org/n?u=RePEc:cte:wsrepe:38369&r=env |
| By: | Costas Arkolakis; Conor Walsh |
| Abstract: | We provide a spatial theory of clean growth to assess the global impact of the rise of renewable energy. We model the details of the combined production and transmission network of electricity (“the grid”) that determine the supply and losses of energy in space. The local rate of clean energy adoption depends on learning-by-doing, the global electricity and trade network, and regional comparative advantage in renewable resources. We use the model to measure the aggregate and spatial implications of clean growth. We find that the world’s power system is likely to be dominated by renewables by 2040 in a range of scenarios, with substantial welfare gains, even in the absence of policy. Incorporating policy, we find that the US Inflation Reduction Act significantly accelerates renewable uptake, and generates substantial economic benefits. In addition, planned grid improvements lower prices substantially in many areas of the US, justifying their cost of construction. |
| JEL: | F11 Q40 Q41 Q42 Q43 R13 |
| Date: | 2023–08 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:31615&r=env |
| By: | Yun, Jeonghwan (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)) |
| Abstract: | Jang et al. (2022) investigate the recent shifts in the European Union's medium- to long-term trade strategies, which have evolved in response to a rapidly changing global trade landscape. We closely examine the policy domains currently in the EU's spotlight, including supply chain resilience, digitalization, tackling climate change, and public health crisis management. Another objective of this study is to identify opportunities for cooperation between Korea and the EU in the above-mentioned areas. Our recommendations include fostering partnerships in Net-zero technology development and multilateral climate discussions, modernizing digital trade agreements, and enhancing pharmaceutical cooperation. |
| Keywords: | Korea-EU cooperation; supply chain; climate change; digitalization |
| Date: | 2023–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:ris:kiepwe:2023_031&r=env |
| By: | ALFIERI Felice; SPILIOTOPOULOS Christoforos (European Commission - JRC) |
| Abstract: | Information and Communication Technologies (ICT) play an increasingly important role in society. ICT can be analysed from a dual perspective: as crucial in supporting sustainability strategies, and as responsible for environmental impacts related to energy and material use in their lifecycle. In order to facilitate policy-making, direct and indirect environmental impacts need to be assessed not just from a device perspective, but the overall system composed by interactions between users, devices and services. Making a reliable estimation of the energy and material savings potential is particularly challenging due to the uncertainty about future market developments, increased connectivity and multifunctionality, and behavioural changes. In 2016, the Commission announced, in the context of the Ecodesign Working Plan, a separate strand of work on ICT products in order to determine the best policy approach for improving their energy efficiency and wider circular economy aspects. This JRC Science-for-Policy report is the result of a study, undertaken for the European Commission's Directorate General for Energy, to support this work by providing a comprehensive and dynamic analysis of the ICT sector. Based on material and energy efficiency improvement potentials identified, and considering user behaviour and lifecycle costing aspects, this JRC report provides policy recommendations on the inclusion of ecodesign provisions, but also accounting for the suitability of complementary policy tools. |
| Date: | 2023–06 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc133092&r=env |
| By: | OSÉS-ERASO Nuria |
| Abstract: | This report is based on the list of indicators developed within the framework of the REGIONS2030 pilot project for the regional monitoring of the Sustainable Development Goals (SDGs). The report analyses the adequacy of this list of indicators for the Comunidad Foral de Navarra, a European region located in the north of Spain. Likewise, the report discusses the availability of data for Navarra, analyses the evolution of the different indicators in Navarre, assesses the trends and proposes some alternative and complementary indicators. The report ends with challenges and recommendations for the development of this list of indicators. |
| Date: | 2023–07 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc134398&r=env |
| By: | Eugene Kharitonov; Oksana Zakharchuk; Lin Mei |
| Abstract: | This study investigates the long-term effects of temperature variations on economic growth using a data-driven approach. Leveraging machine learning techniques, we analyze global land surface temperature data from Berkeley Earth and economic indicators, including GDP and population data, from the World Bank. Our analysis reveals a significant relationship between average temperature and GDP growth, suggesting that climate variations can substantially impact economic performance. This research underscores the importance of incorporating climate factors into economic planning and policymaking, and it demonstrates the utility of machine learning in uncovering complex relationships in climate-economy studies. |
| Date: | 2023–06 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2308.06265&r=env |
| By: | Pejman Abedifar (University of St Andrews; Khatam University); Hossein Doustali (Khatam University); Steven Ongena (University of Zurich; Swiss Finance Institute; KU Leuven; NTNU Business School; Centre for Economic Policy Research (CEPR)) |
| Abstract: | What is the role played by marketplace lending after natural disasters? Analyzing a sample of more than one and a half million observations from Lending Club around the 33 worst natural disasters that occurred between 2013 and 2017, we find that there is an increase in the demand for marketplace loans by almost 10%. Yet, the platform does not restrict lending to individuals in the affected areas, nor do we observe an increase in interest rates. Interestingly, the performance of borrowers who receive loans after a natural disaster is not significantly different from the borrowers during normal times, indicating that the platform is competent at efficiently meeting the extra loan demand. |
| Keywords: | Marketplace Lending, FinTech, Natural Disasters, Access to Finance, Credit Risk Assessment |
| JEL: | D14 E51 G2 Q54 |
| Date: | 2023–09 |
| URL: | http://d.repec.org/n?u=RePEc:chf:rpseri:rp2378&r=env |
| By: | Alhelo, Alzaki; Siddig, Khalid; Kirui, Oliver K. |
| Abstract: | The paper reviews the performance of the Sudanese agricultural sector over the last three decades (1990 through 2021) and examines the drivers of that performance. Key findings show that the sector’s contribution to gross domestic product was greater during the 1990–1999 period than during the other two decades; agricultural productivity as well was higher in that decade than in the subsequent two decades. The sector has remained a major source of employment and livelihood. During the last decade reviewed (2010–2021), the sector regained its leading position as a generator of foreign currency. Public investment in agriculture and government spending allocated to the sector were lower than in other countries in the region. Political elites have generally lacked commitment to development plans in the sector. Political developments in Sudan have disrupted more recent efforts to revitalize the sector. Climate change, as manifested in rising temperature, declining rainfall, and drought, is a substantial determinant currently affecting the sector. The paper discusses some broad recommendations for improving the performance of the Sudanese agricultural sector. |
| Keywords: | REPUBLIC OF THE SUDAN; EAST AFRICA; AFRICA SOUTH OF SAHARA; AFRICA; agricultural sector; gross national product; agricultural productivity; employment; livelihoods; public investment; government spending; development; political aspects; climate change; gross domestic product |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:ifprid:2191a&r=env |
| By: | Zhiwei Yang |
| Abstract: | This paper applies the Hotelling model to the context of exhaustible human resources in China. We find that over-exploitation of human resources occurs under conditions of restricted population mobility, rigid wage levels, and increased foreign trade demand elasticity. Conversely, the existence of technological replacements for human resources or improvements in the utilization rate of human resources leads to conservation. Our analysis provides practical insights for policy-making towards sustainable development. |
| Date: | 2023–06 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2308.07154&r=env |
| By: | BERTOZZI Cecilia (European Commission - JRC); MANFREDI Raffaella; STAMOS Iraklis (European Commission - JRC); VEGA RAPUN Margarita |
| Abstract: | The Pilot Project "REGIONS2030: Monitoring the SDGs in the EU regions - Filling the data gaps", supported by the European Parliament is developed by the Joint Research Centre (JRC) in collaboration with ESTAT and DG REGIO. The REGIONS2030 Pilot Project is carried out involving 10 European regions, which share a strong ambition to monitor the achievement of the SDGs and are willing to explore the synergies of SDGs monitoring, policy-making and sustainable regional development. This factsheet illustrates the key figures and facts on the Region of North Aegean (EL). |
| Date: | 2023–06 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc133864&r=env |
| By: | BERTOZZI Cecilia (European Commission - JRC); MANFREDI Raffaella; STAMOS Iraklis (European Commission - JRC); VEGA RAPUN Margarita |
| Abstract: | The Pilot Project "REGIONS2030: Monitoring the SDGs in the EU regions - Filling the data gaps", supported by the European Parliament is developed by the Joint Research Centre (JRC) in collaboration with ESTAT and DG REGIO. The REGIONS2030 Pilot Project is carried out involving 10 European regions, which share a strong ambition to monitor the achievement of the SDGs and are willing to explore the synergies of SDGs monitoring, policy-making and sustainable regional development. This factsheet illustrates the key figures and facts on the Region of Western Macedonia (EL). |
| Date: | 2023–06 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc133871&r=env |
| By: | BERTOZZI Cecilia (European Commission - JRC); MANFREDI Raffaella; STAMOS Iraklis (European Commission - JRC); VEGA RAPUN Margarita |
| Abstract: | The Pilot Project "REGIONS2030: Monitoring the SDGs in the EU regions - Filling the data gaps", supported by the European Parliament is developed by the Joint Research Centre (JRC) in collaboration with ESTAT and DG REGIO. The REGIONS2030 Pilot Project is carried out involving 10 European regions, which share a strong ambition to monitor the achievement of the SDGs and are willing to explore the synergies of SDGs monitoring, policy-making and sustainable regional development. This factsheet illustrates the key figures and facts on the Region of Andalusia (ES). |
| Date: | 2023–06 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc133861&r=env |
| By: | Bulearca, Marius (Centrul de Economia Industriei si Serviciilor, Institutul National de Cercetari Economice al Academiei Romane); Muscalu, Mihai-Sabin (Centrul de Economia Industriei si Serviciilor, Institutul National de Cercetari Economice al Academiei Romane) |
| Abstract: | The natural gas crisis was a deep one. As Europeans paid higher bills starting in the winter of 2021-2022, European energy markets, from natural gas to carbon permits, hit new records. Geopolitics was not missing from the landscape either, where Russia made moves proving that Europe still remains, regardless of declarations, dependent on Russian gas. Starting from these considerations, the article aims to carry out an analysis of the causes that led to the emergence of the natural gas crisis, as well as the evolution of their prices in Romania. Thus, the paper studies the evolution of natural gas prices on specific markets and presents the measures taken by the Romanian Government to protect consumers (and primarily household consumers) in the face of high natural gas and, implicitly, energy prices, as well as the effects induced by them to players on the market, but also the long-term prospects, in the context of the (ongoing) conflict in Ukraine. Since the use of natural gas will continue to play an important role in supporting the transition of the EU economy from solid or nuclear fuel to green energy, at the end of the article it is concluded that the Romanian state authorities must give the national energy strategy the importance and urgency of the moment, and the subsequent implementation of the strategy must allow Romania to use its high potential, compared to other European countries, so as to become energy independent. |
| Keywords: | natural gas price, price cap, European Union, TTF Amsterdam hub, CEGH Vienna hub, Romanian Commodity Exchange |
| JEL: | D18 I38 L71 Q34 |
| Date: | 2023–09 |
| URL: | http://d.repec.org/n?u=RePEc:ror:seince:230912&r=env |
| By: | BERTOZZI Cecilia (European Commission - JRC); MANFREDI Raffaella; STAMOS Iraklis (European Commission - JRC); VEGA RAPUN Margarita |
| Abstract: | The Pilot Project "REGIONS2030: Monitoring the SDGs in the EU regions - Filling the data gaps", supported by the European Parliament is developed by the Joint Research Centre (JRC) in collaboration with ESTAT and DG REGIO. The REGIONS2030 Pilot Project is carried out involving 10 European regions, which share a strong ambition to monitor the achievement of the SDGs and are willing to explore the synergies of SDGs monitoring, policy-making and sustainable regional development. This factsheet illustrates the key figures and facts on the Region of Pomorskie (PL). |
| Date: | 2023–06 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc133867&r=env |
| By: | BERTOZZI Cecilia (European Commission - JRC); MANFREDI Raffaella; STAMOS Iraklis (European Commission - JRC); VEGA RAPUN Margarita |
| Abstract: | The Pilot Project "REGIONS2030: Monitoring the SDGs in the EU regions - Filling the data gaps", supported by the European Parliament is developed by the Joint Research Centre (JRC) in collaboration with ESTAT and DG REGIO. The REGIONS2030 Pilot Project is carried out involving 10 European regions, which share a strong ambition to monitor the achievement of the SDGs and are willing to explore the synergies of SDGs monitoring, policy-making and sustainable regional development. This factsheet illustrates the key figures and facts on the Region of Piedmont (IT). |
| Date: | 2023–06 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc134190&r=env |
| By: | Vesa Pursiainen (University of St. Gallen; Swiss Finance Institute); Hanwen Sun (University of Bath); Yue Xiang (University of Bath) |
| Abstract: | A firm’s exposure to competition is negatively associated with its ESG performance. We measure exposure to domestic product market competition by product market fluidity, based on product text descriptions, and find that higher fluidity - indicating higher product market threats - is associated with lower ESG scores. Fluidity matters more for financially constrained firms, in capital-intensive industries, and for costly activities. Increasing exposure to Chinese import competition is associated with reduction in ESG scores. This effect of import competition is stronger for firms less exposed to domestic competition. Local climate attitudes and social norms moderate the effect of competitive pressure. |
| Keywords: | competition, product market threats, ESG, sustainability, international trade |
| JEL: | D40 F18 F64 G30 M14 |
| Date: | 2023–08 |
| URL: | http://d.repec.org/n?u=RePEc:chf:rpseri:rp2369&r=env |
| By: | BERTOZZI Cecilia (European Commission - JRC); MANFREDI Raffaella; STAMOS Iraklis (European Commission - JRC); VEGA RAPUN Margarita |
| Abstract: | The Pilot Project "REGIONS2030: Monitoring the SDGs in the EU regions - Filling the data gaps", supported by the European Parliament is developed by the Joint Research Centre (JRC) in collaboration with ESTAT and DG REGIO. The REGIONS2030 Pilot Project is carried out involving 10 European regions, which share a strong ambition to monitor the achievement of the SDGs and are willing to explore the synergies of SDGs monitoring, policy-making and sustainable regional development. This factsheet illustrates the key figures and facts on the Region of North-West Romania (RO). |
| Date: | 2023–06 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc133865&r=env |
| By: | BERTOZZI Cecilia (European Commission - JRC); MANFREDI Raffaella; STAMOS Iraklis (European Commission - JRC); VEGA RAPUN Margarita |
| Abstract: | The Pilot Project "REGIONS2030: Monitoring the SDGs in the EU regions - Filling the data gaps", supported by the European Parliament is developed by the Joint Research Centre (JRC) in collaboration with ESTAT and DG REGIO. The REGIONS2030 Pilot Project will be carried out, inter alia, involving 10 European regions, which share a strong ambition to monitor the achievement of the SDGs and are willing to explore the synergies of SDGs monitoring, policy-making and sustainable regional development. The regions are: Βόρειο Αιγαίο (North Aegean), Δυτική Μακεδονία (Western Macedonia), Comunidad Foral de Navarra, Andalucía, Piemonte, Puglia, Pomorskie, Centro (PT), Nord-Vest, and Manisa, Afyonkarahisar, Kütahya, Uşak. The participating regions work with experts and partners to develop, test and improve a framework of indicators for monitoring the achievement of the SDGs at regional level. They contribute to define the method and identify the relevant indicators at NUTS2 level, which will be eventually used in the whole of the EU. Where relevant, regions propose additional customised indicators to reflect different contexts. |
| Date: | 2023–06 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc133872&r=env |
| By: | Khondaker Golam Moazzem; Helen Mashiyat Preoty; Chowdhury Fariha |
| Abstract: | The National Budget for FY2022–23 was placed in the Parliament during June 2022. It was approved at a time when Bangladesh’s economy had been confronting a number of domestic and external challenges. The economy has yet to come out from the post-covid challenges. Owing to the Ukraine-Russia War, the disruption in the global supply chains, particularly related to the energy supply chains, has made a significant adverse impact on the domestic economy. The ongoing war has posed short to medium-term threats to the global energy market in terms of energy supply, energy price, energy sustainability and future clean energy targets. Hence, the National Budget needs to take into account the energy and power sector-related concerns in terms of fiscal measures and budgetary allocations. |
| Keywords: | Power and Energy Sector, National Budget, FY2022–23, Ukraine-Russia War, Global energy market, Energy sustainability, Clean energy, Bangladesh Economy |
| Date: | 2023–03 |
| URL: | http://d.repec.org/n?u=RePEc:pdb:pbrief:40&r=env |
| By: | Kim , Yoonjung (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Lim, You Jin (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)) |
| Abstract: | 본 연구에서는 러시아-우크라이나 전쟁 이후 유럽의 에너지 위기 대응 정책을 살펴보고, 산업 생산과 에너지 위기 대응 정책의 관련성을 분석하였다. 러시아-우크라이나 전쟁 이후 유럽 내 에너지 위기의 배경, 에너지 가격 상승과 인플레이션의 연관성을 살펴보고, 유럽 주요국 정부가 에너지 위기의 충격을 완화하고자 집행한 다양한 정책들을 통해 정책적 함의를 도출하였다. 또한 유럽 주요국의 에너지 위기 대응 정책 도입 시점에 대한 정보를 이용하여 이러한 정책들과 산업 생산에 유의미한 관계가 있었는지 분석하였다. 지금까지 우리나라의 에너지 가격 상승은 유럽의 에너지 위기 상황에 비할 수 없지만, 취약계층을 더 면밀하게 파악하고 재정적 지원을 보다 효과적으로 실행할 수 있는 시스템을 구축하여 재정 집행의 비효율을 최소화할 수 있도록 대비해야 한다. 또한 가격 신호를 최대한 이용하면서 장기적으로는 에너지 효율화 및 수급 안정성 강화를 위해 노력해나가야 한다.(This study analyzes Europe’s policy responses after the energy crisis after the Russian-Ukrainian war and examines the impact of policy measures on industrial production. Although the mild winter of 2022 resulted in lower-than-expected energy demand, and energy prices have stabilized since the end of 2022, there is uncertainty about the severity of the winter in 2023 and the war is showing signs of prolongation. While Europe is using the energy crisis as an opportunity for the green transition, Europe is also accepting that it will continue to use fossil fuels, including liquefied natural gas (LNG), for at least the next decade and possibly even longer. The fact that Europe can no longer rely on fossil fuel supplies from Russia has significant implications for Korea, which is a net energy importer, as it may be affected by the increasing demand from Europe in the international energy market. Analyzing Europe’s policy measures on energy crisis provides important policy recommendations for potential energy price surge in South Korea due to the additional international energy demand. Chapter 2 explores the background of the energy crisis in Europe after the Russian-Ukrainian war, and explores the link between rising energy prices and inflation. We analyze the various policies implemented by the national governments of three European countries to mitigate the impact of the energy crisis, namely Germany, France, and the United Kingdom. The study demonstrates a significant increase in energy prices, providing justification for the implementation of national policy measures. We show heterogeneity across countries, including dependence on Russian energy, available fuel types, and the different institutional contexts, and further investigated the policy packages in each country. the rest omitted) |
| Keywords: | Energy crisis; Energy use; Energy subsidy; Europe; Industry production |
| Date: | 2023–09–04 |
| URL: | http://d.repec.org/n?u=RePEc:ris:kiepre:2022_018&r=env |
| By: | Flowers, Henry; Lopez, Jose A.; Drake, David; Jones, Curtis |
| Abstract: | An analysis of the effect of ryegrass cover crop on no-till soybean yield, grain density, and height; and profitability of harvesting ryegrass for forage. Annual ryegrass is a cool-season annual bunchgrass, which due to its high palatability and digestibility is valuable for forage. Grazing cover crops is economically viable when the returns offset establishment costs without reducing crop yields. Six ryegrass management practices prior to planting soybean were evaluated: volunteer ryegrass as a cover crop, ryegrass forage harvested for hay, ryegrass forage grazing simulation, and three different herbicides applications that vary in timing (December, February, and March application). All forage and cover crop plots were terminated with Glyphosate or Paraquat two weeks prior to planting soybeans. There were no statistical differences in soybean yields, soybean height, and soybean grain density between annual ryegrass cover cropping and herbicide treatments. The results also indicated that ryegrass forage can produce up to 2, 741 kg ha-1 of dry matter that if sold as hay can generate a profit between $230 and $244 ha-1 . Similarly, if land is leased for grazing, ryegrass could generate a profit of $63 ha-1 if its dry matter production is 1, 006.70 kg. |
| Keywords: | Agricultural Finance, Crop Production/Industries, Farm Management |
| Date: | 2023–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:saea22:338474&r=env |
| By: | Avdonina, Alexandra (Авдонина, Александра) (Russian Presidential Academy of National Economy and Public Administration); Lanshina, Tatiana (Ланьшина, Татьяна) (Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | The paper analyzes the best practices and models of MSW management abroad, defines theoretical approaches to the study of the formation and functioning of such a system in the Russian Federation. The role of stakeholders (stakeholders) in reforming the system has been determined. The analysis of economic instruments aimed at motivating stakeholders to consciously handle waste and separate collection of MSW is carried out. |
| Keywords: | solid trash, international experience |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:s21017&r=env |
| By: | MROZOWSKA Sylwia |
| Abstract: | The report presents the availability of data for monitoring the indicators proposed by the JRC, and illustrates the process of building a regional SDG monitoring system for the Pomorskie region. It assesses the Pomorskie region’s capacity to monitor the SDGs, identifying challenges encountered in the process, gaps to be addressed and strengths to build on. The publication was created as a result of the analytical work and in-depth cooperation and dialogue with the Department of Regional and Spatial Development of Office of the Marshal of the Pomorskie region and with the participation of units dealing with public statistics – Statistics Poland, Branch Gdańsk and the Centre for Sustainable Development of the University of Gdańsk. |
| Date: | 2023–07 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc134402&r=env |
| By: | De Maria, Marcello; Robinson, Elizabeth J.Z.; Zanello, Giacomo |
| Abstract: | Despite the existence of a legal framework defining the right to fair compensation, and notwithstanding the vast literature on transnational and domestic land deals, no theory has been developed so far to allow for a specific analysis of the economics of fair compensation in large-scale land acquisitions (LSLAs), limiting our understanding of the underlying reasons of success or failure of this important legal protection mechanism. Building on the review of the existing literature on fair compensation and on the critical examination of several real-world case studies, this paper fills this gap by developing a three-player sequential game, which captures the peculiarities of fair compensation in large-scale land deals. We show that, under specific but not uncommon circumstances, the local community will be offered a zero-compensation as a rational consequence of the players’ optimisation, and this will lead to a land conflict, with all players incurring additional costs. Our findings suggest that local populations will be offered – and willing to accept – a compensation that is smaller than their original livelihood, unless they can oppose the land deal at no cost. Thus, the right to consent is inextricably related to the right to reject in LSLAs. If the former is frictionless while the latter comes at a cost, then there is space for strategic behaviours that exploit power imbalances and discretionary processes, and the fair compensation right is, in practice, weakened. |
| Keywords: | large-scale land acquisitions; land grabbing; fair compensation; zero compensation; sustainable land governance; land rights; UK Research and Innovation’s Global Challenges Research Fund (UKRI GCRF) through the Trade; Development and the Environment Hub project (project number ES/S008160/1). |
| JEL: | R14 J01 |
| Date: | 2023–10–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:119742&r=env |
| By: | Gómez-Cardona, Santiago; Kammerer, Johannes |
| Abstract: | The regulation of gears constitutes a fisheries management strategy primarily aimed at preserving immature fish. This approach circumvents the politically sensitive and difficult-to-enforce direct restrictions on entry and catches that characterize many developing contexts. However, existing recommendations often oversimplify socioeconomic dimensions and assume complete government control over gear selection. This oversimplification overlooks crucial effects resulting from the fishers’ agency. To address this gap, our study highlights the implications of fishing gear selection in the outcomes of a fishery. We propose that the choice of fishing gear, i.e., the ability of fishers to select for different fish sizes, has significant direct implications for management due to the distinct fishery regimes it leads to. A swift transition between two states characterizes these regimes: one with high output value and a significant proportion of fishers targeting large fish, and the other with low output value and a predominant number of fishers aiming for small fish. These regimes emerge in response to contextual variables such as prices and economic activity and are not a product of government intervention. Policy management operates on top of these regimes, taking advantage of or hampered by them depending on the context. Our findings are derived from an agent-based model replicating the general conditions on the Nile Perch Fishery in Lake Victoria and accurately simulating its age-structured fish stock. This allows for dynamic shifts driven by gear choices that target different fish sizes. |
| Keywords: | Gear Selectivity; Gear Choice; Agent Based Modeling; Nile Perch Fishery; Lake Victoria.; Lake Victoria |
| Date: | 2023–09–13 |
| URL: | http://d.repec.org/n?u=RePEc:awi:wpaper:0732&r=env |
| By: | Vargas, Carolina M.; Reardon, Thomas; Liverpool-Tasie, Lenis Saweda O. |
| Abstract: | Using unique primary survey data on 1100 Nigerian maize traders, we use probit models to estimate the probability of experiencing exogenous shocks and its relationship to trader characteristics (gender, size, and location), and traders vulnerability, measured as the probability of experiencing severe impacts. We study five types of exogenous shocks: climate, violence, price changes, spoilage, and COVID-19. We analyze the relationship among these shocks and the trader characteristics that make traders more vulnerable. We find traders are prone to experience more than one shock, which increases the intensity of the shocks. This is especially the case for price shocks, which are often accompanied by violence, climate, and COVID shocks. The poorer Northern region is disproportionately affected by shocks, with Northern traders experiencing more price shocks, and Southern traders more violence shocks but in their long supply chains from the North. Women are more prone to experience a violence shock and men, a severe climate event. A limitation is that the data only analyze the general degree of impact of a shock rather than quantify lost income. A key policy implication is the need for a differentiated response and prevention strategy based on the particular mix of shocks and types of traders and regions. |
| Keywords: | Agribusiness, Agricultural and Food Policy, Community/Rural/Urban Development, Food Consumption/Nutrition/Food Safety, Food Security and Poverty, Industrial Organization, International Development, Marketing, Risk and Uncertainty |
| Date: | 2023–08–25 |
| URL: | http://d.repec.org/n?u=RePEc:ags:midasp:338499&r=env |
| By: | Khondaker Golam Moazzem; Abeer Khandker |
| Abstract: | With the depletion of domestic natural gas reserves, Bangladesh’s energy market has become increasingly dependent on imported energy – mainly petroleum, LNG and coal. Hence, the volatility in the global energy market is gradually impacting the energy sector as well as the economy as a whole. The Ukraine war has further accentuated the global energy market crisis both in terms of energy supply and energy prices which have multi-dimensional adverse impacts on developing countries. There is no comprehensive study found on the war-led global energy crisis and its impact on inflation where the level of adversity has been measured. Most of the studies are indicative in terms of causal relationships between energy crisis and its impact on macroeconomic aggregates including inflation. Hence a quantitative analysis is required to show how the global energy market crisis led to domestic inflation, particularly in developing countries. In this backdrop, this study will seek to estimate the level of inflationary impact on Bangladesh economy due to global energy price volatility. |
| Keywords: | Fossil Fuel, Global Energy Crisis, Domestic Inflation, Energy sector, Bangladesh economy |
| Date: | 2022–11 |
| URL: | http://d.repec.org/n?u=RePEc:pdb:pbrief:39&r=env |
| By: | Rivers, Nicholas; Woerman, Matt; Yassin, Kareman |
| Abstract: | Douenne and Fabre (2022) implement a representative survey following the Yellow Vests movement in France that started in opposition to the carbon tax in 2018. They find that a majority of French citizens would oppose a carbon tax and dividend program with proceeds paid equally to each adult. The authors further find that respondents have pessimistic beliefs about several aspects of the policy. They then show how informational treatments cause respondents to update these beliefs, and they finally estimate the causal effect of these beliefs on support for the policy. In this note, we focus on the second section of this paper: the causal effects of feedback on beliefs. Based on elicited household characteristics, Douenne and Fabre (2022) estimate whether each household "wins" or "loses" from the carbon tax and dividend reform. They provide this binary (win vs. lose) information to households and subsequently ask households to evaluate whether they believe they would financially benefit from the policy. By exploiting the discontinuity in win vs. lose feedback, they assess the degree to which feedback affects subjective beliefs, finding that a household that is told it will "win" as a result of the reform increases its subjective belief that it will not lose by about 25 percentage points. The subset of households that is part of the Yellow Vests movement, however, revises its subjective belief of not losing upwards by only 10 percentage points after being told that it will "win" from the carbon tax reform. Conversely, households who initially support the tax increase this belief by 41 percentage points when told they will "win." In this note we replicate this second section of the paper-the causal effects of feedback on beliefs- using the processed data provided by the authors. We successfully replicate the average treatment effect, but we find that the heterogeneous treatment effects may be biased due to model misspecification. While our results support the conclusion that these estimated effects depend on a household's attitudes toward the policy, we find that the source of heterogeneity differs. Further, we note two changes to the analysis that we believe are appropriate (which do not affect the conclusions drawn): first, some (1.8%) of observations in the dataset appear to be misclassified-wrongly coded as if a household would "lose" when in fact they would "win"-and second, the main causal analysis is based on a regression discontinuity design, but does not include standard components of such a design (e.g., a RD plot, optimal selection of bandwidth, density analysis, placebo tests). We update the design to address both of these points. We find results that generally support the main conclusions of Douenne and Fabre (2022), but we urge caution when interpreting the heterogeneous treatment effects. |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:i4rdps:58&r=env |
| By: | Nam, Sanguk (Korea Institute for Industrial Economics and Trade); Oh, Seunghwan (Korea Institute for Industrial Economics and Trade) |
| Abstract: | When firms anticipate a major change in the business environment or some kind of crisis, they often pursue some kind of business transition in an effort to overcome the challenge and discover new growth momentum. Rapid changes to the industrial environment such as COVID-19, carbon neutrality, and the digital transformation have made business transformation increasingly urgent. However, Korean small medium-sized enterprises (SMEs) have not adequately prepared to meet this challenge. According to a survey by the Korea SMEs and Startups Agency (KOSME), 85.4 percent of SMEs reported that management felt a need to change the structure of the business. Yet only 26.9 percent of firms were found to be making active preparations to do so. The industrial environment of the display and automobile industries in particular is undergoing a rapid change. Display industry manufacturers are switching to organic light-emitting diode (OLED) displays as the competitiveness of liquid-crystal displays (LCD) declines due to increased competition from China, and the automobile industry is rapidly shifting from internal combustion engine (ICE) vehicles to electric vehicles (EVs) due to the promotion of carbon neutrality policies. Domestically, both industries possess world-class technologies thanks to long-term R&D and investment, but they are in danger of losing demand for these technologies due to changes in the industrial environment. It is against backdrop which this study is set. In it, we examine the direction of business transformation based on technological capacity through an analysis of patent data. The dataset in question consists of information on SMEs’ patents in the display and automotive industries. |
| Keywords: | business transition; restructuring; carbon neutrality; digital transformation; small and medium-sized enterprises; SMEs; SME growth; SME policy; display industry; automotive industry; industrial structure; SME technology; SME capacity; Korea |
| JEL: | D20 D23 D25 E22 L16 L21 L25 L29 L52 L62 L63 L68 |
| Date: | 2023–08–30 |
| URL: | http://d.repec.org/n?u=RePEc:ris:kieter:2023_018&r=env |
| By: | Yeboah, Samuel; Boateng Prempeh, Kwadwo |
| Abstract: | This systematic review explores the multifaceted challenges and opportunities presented by Foreign Direct Investment (FDI) inflows for local entrepreneurial development. FDI is known to bring both potential benefits and pitfalls for local startups, and understanding this delicate balance is crucial for sustainable economic growth. Firstly, FDI often ushers in increased competition as well-funded foreign firms enter local markets. While this can hinder local startups' market share, it can also stimulate innovation and efficiency. Secondly, local entrepreneurs relying heavily on FDI face dependency risks, as shifts in foreign investors' priorities or sudden exits can disrupt their operations. Thirdly, FDI can transfer technology and knowledge but also poses the risk of technology leakage, potentially stifling local startups' independent capabilities. Fourthly, asymmetrical power dynamics between foreign investors and local startups can result in unequal partnerships. Lastly, FDI might lead to market fragmentation, overshadowing local players and limiting diversity and competition. Furthermore, cultural differences in corporate cultures and management styles can create collaboration challenges between foreign corporations and local startups. In navigating these challenges, local startups must adopt strategies to differentiate themselves from foreign competitors, negotiate fair partnerships, and foster cross-cultural collaboration. Policymakers also play a crucial role in balancing the benefits and costs of FDI through measures that prevent or mitigate market fragmentation and promote interoperability and harmonization across industries. Understanding the nuanced interplay between FDI and local entrepreneurship is essential for achieving sustainable economic growth and fostering innovation in a globalized world. |
| Keywords: | Foreign Direct Investment (FDI); Local Entrepreneurship; Challenges; Opportunities; Competition; Dependency Risks; Technology Leakage; Power Dynamics; Market Fragmentation; Cultural Challenges; Economic Growth; Innovation; Sustainable Development; Cross-Cultural Collaboration; Market Share |
| JEL: | D22 F21 F23 L20 L26 L53 M21 O16 O33 O57 |
| Date: | 2023–07–14 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:118359&r=env |
| By: | KOUTSOMARKOS Nikos |
| Abstract: | In the framework of the ‘REGIONS2030 monitoring the SDGs in the EU regions - filling the data gaps’ project supported by the European Parliament and implemented by the European Commission Joint Research Centre (JRC) in collaboration with DG REGIO and ESTAT, an analysis of a dataset to measure the SDGs at regional (NUTS2) level was performed for Western Macedonia, Greece. The work included checking data availability, fit between the indicators and the regional priorities, and the formulation of suggestions for new indicators. After the analysis of the dataset, 77 indicators were suggested for monitoring the SDGs in the region, while certain challenges emerged; general and indicator-specific issues were analysed; and recommendations of new perspectives and indicators to be considered were provided. |
| Date: | 2023–07 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc134405&r=env |
| By: | Sylvain Béal (Université de Franche-Comté, CRESE, F-25000 Besançon, France); Adriana Navarro-Ramos (Université de Saint-Etienne, GATE Lyon Saint-Etienne UMR 5824, F-42023 Saint-Etienne, France); Eric Rémila (Université de Saint-Etienne, GATE Lyon Saint-Etienne UMR 5824, F-42023 Saint-Etienne, France); Philippe Solal (Université de Saint-Etienne, GATE Lyon Saint-Etienne UMR 5824, F-42023 Saint-Etienne, France) |
| Abstract: | We consider the cost sharing issue resulting from the maintenance of a hazardous waste transportation network represented by a sink tree. The participating agents are located on the nodes of the network and must transport their waste to the sink through costly network portions. We introduce the Liability rule, which is inspired by the principles applied by the courts to settle cost-allocation disputes in the context of hazardous waste. We provide an axiomatic characterization of this rule. Furthermore, we show that the Liability rule coincides with the Priority Shapley value, a new allocation rule on an appropriate class of multi-choice games arising from hazardous waste transportation problems. Finally, we also axiomatize the Priority Shapley value on the full domain of multi-choice games. |
| Keywords: | Hazardous waste, transportation network, Liability rule, Priority Shapley value, multi- choice games |
| JEL: | C71 Q53 R42 |
| Date: | 2023–09 |
| URL: | http://d.repec.org/n?u=RePEc:crb:wpaper:2023-04&r=env |
| By: | Sylvain Béal (Université de Franche-Comté, CRESE, F-25000 Besançon, France); Adriana Navarro-Ramos (Université de Saint-Etienne, GATE Lyon Saint-Etienne UMR 5824, F-42023 Saint-Etienne, France); Eric Rémila (Université de Saint-Etienne, GATE Lyon Saint-Etienne UMR 5824, F-42023 Saint-Etienne, France); Philippe Solal (Université de Saint-Etienne, GATE Lyon Saint-Etienne UMR 5824, F-42023 Saint-Etienne, France) |
| Abstract: | We consider the cost sharing issue resulting from the maintenance of a hazardous waste transportation network represented by a sink tree. The participating agents are located on the nodes of the network and must transport their waste to the sink through costly network portions. We introduce the Liability rule, which is inspired by the principles applied by the courts to settle cost-allocation disputes in the context of hazardous waste. We provide an axiomatic characterization of this rule. Furthermore, we show that the Liability rule coincides with the Priority Shapley value, a new allocation rule on an appropriate class of multi-choice games arising from hazardous waste transportation problems. Finally, we also axiomatize the Priority Shapley value on the full domain of multi-choice games. |
| Keywords: | Hazardous waste, transportation network, Liability rule, Priority Shapley value, multi- choice games |
| JEL: | C71 Q53 R42 |
| Date: | 2023–09 |
| URL: | http://d.repec.org/n?u=RePEc:crb:wpaper:2023-03&r=env |