|
on Energy Economics |
| By: | Odhiambo, Nicholas M |
| Abstract: | In this paper we examine the causal relationship between energy consumption and economic growth in Botswana during the period 1980-2016. We disaggregate energy consumption into six components, namely: total energy consumption, electricity consumption, motor gasoline, gas/diesel oil, fuel oil and liquefied petroleum gas. We then compare the results of the disaggregated energy components with that of the aggregated energy consumption level. In order to account for the omission-of-variable bias, we incorporate inflation and trade openness as intermittent variables between the various components of energy consumption and economic growth, thereby creating a system of multivariate equations. Using the ARDL-bound testing approach, the study found a causal flow from economic growth to energy consumption to predominate. This finding has important policy implications as it shows that the buoyant economic growth that Botswana has enjoyed over the years is not energy-dependent, and that the country could pursue the requisite energy conservation policies without necessarily stifling its economic growth. To our knowledge, this study may be the first of its kind to examine in detail the causal relationship between energy consumption and economic growth in Botswana using a multivarite causality model and a disaggregated dataset. |
| Keywords: | Botswana, Disaggregated Energy Consumption, Economic Growth, ARDL-bounds Testing Approach |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:uza:wpaper:27659&r= |
| By: | Marion Leroutier (PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, CIRED - Centre International de Recherche sur l'Environnement et le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Decreasing greenhouse gas emissions from electricity generation is crucial to tackle climate change. Yet, empirically little is known on the effectiveness of economic instruments in the power sector. This paper examines the impact of the UK Carbon Price Support (CPS), a carbon tax implemented in the UK power sector in 2013. Compared to a synthetic control unit built from other European countries, emissions from the UK power sector declined by 26 percent on an average year between 2013 and 2017. Bounds on the effects of potential UK confounding policies and several placebo tests suggest that the carbon tax caused at least 80% of this decrease. Three mechanisms are highlighted: a decrease in emissions at the intensive margin; the closure of some high-emission plants at the extensive margin; and a higher probability of closure than in the synthetic UK for plants at risk of closure due to European air quality regulations. This paper shows that a carbon tax on electricity generation can lead to successful decarbonisation. |
| Keywords: | Synthetic control method,Synthetic control method carbon tax,Electricity generation,Carbon tax |
| Date: | 2021–06 |
| URL: | http://d.repec.org/n?u=RePEc:hal:psewpa:halshs-03265636&r= |
| By: | Russo, Marianna; Kraft, Emil; Bertsch, Valentin; Keles, Dogan |
| Abstract: | Electricity retailers face increasing uncertainty due to the ongoing expansion of unpredictable, distributed generation in the residential sector. We analyze how increasing levels of households' solar PV self-generation affect the short-term decisionmaking and associated risk exposure of electricity retailers in day-ahead and intraday markets. First, we develop a stochastic model accounting for correlations between solar load, residual load and price in sequentially nested wholesale spot markets across seasons and type of day. Second, we develop a computationally tractable twostage stochastic mixed-integer optimization model to investigate the trading portfolio and risk optimization problem faced by retailers. Through conditional value-at-risk we assess retailers' profitability and risk exposure to different levels of PV self-generation by assuming different retail tariff schemes. We find risk-hedging trading strategies and tariffs to have greater impact in Summer and with low levels of residual load in the system, i.e. when the solar generation uncertainty affect more the households demand to be served and the wholesale spot prices. The study is innovative in unveiling the potential of dynamic electricity tariffs, which are indexed to spot prices, to sustain a high penetration of renewable energy source while promoting risk sharing between customer and retailer. Our findings have implications for electricity retailers facing load and revenue risks in wholesale spot markets, likewise for regulators and policy-makers interested in electricity market design. |
| Keywords: | Electricity markets,Stochastic model,Stochastic programming,Retailer uncertainty modeling,Riskmanagement |
| JEL: | C10 C50 G10 Q42 Q48 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:kitiip:57&r= |
| By: | Luís Aguiar-Conraria (NIPE and Economics Department, University of Minho); Gilmar Conceição (Faculdade de Economia e Gestão da Universidade Licungo); Maria Joana Soares (NIPE and Department of Mathematics, University of Minho) |
| Abstract: | While we can say that there is a global market for crude oil, we cannot say the same cannot for natural gas. There is a strand of literature that argues that, in the last decades, gas markets have become less regional and more global. We use wavelets to test this hypothesis and conclude otherwise: although the European and Japanese gas markets are signifcantly synchronized, they are much less than the oil markets, which we take as the benchmark. We also show that the North American gas market fluctuations are independent of the other gas markets. Finally, we show that the existing synchronization between gas markets almost vanishes once one filters out the effect of oil price variations, suggesting that it is the global oil market that connects the regional gas markets. |
| Keywords: | Gas markets; Oil market; Wavelet Power Spectrum; Wavelet Coherency;Wavelet Phase-Difference |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:nip:nipewp:6/2021&r= |
| By: | Karen Clay; Akshaya Jha; Joshua A. Lewis; Edson R. Severnini |
| Abstract: | The passage of landmark government regulation is often the culmination of evolving social pressure and incremental policy change. During this process, firms may preemptively adjust behavior in anticipation of impending regulation, making it difficult to quantify the overall economic impact of the legislation. This study leverages newly digitized data on the operation of virtually every fossil-fuel power plant in the United States from 1938-1994 to examine the impacts of the 1970 Clean Air Act (CAA) on the power sector. This unique long panel provides an extended pre-regulation benchmark, allowing us to account for both anticipatory behavior by electric utilities in the years leading up to the Act’s passage and reallocative effects of the CAA across plant vintages. We find that the CAA led to large and persistent decreases in output and productivity, but only for plants that opened before 1963. This timing aligns with the passage of the original 1963 CAA, which provided the federal government with limited authority to “control” air pollution, but signaled impending federal regulation. We provide historical evidence of anticipatory responses by utilities in the design and siting of plants that opened after 1963. We also find that the aggregate productivity losses of the CAA borne by the power sector were substantially mitigated by the reallocation of output from older less efficient power plants to newer plants. |
| JEL: | K32 N52 N72 Q41 Q48 Q52 Q58 |
| Date: | 2021–06 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:28962&r= |
| By: | Villamizar, Rodrigo; Villamizar-Villegas, Mauricio; Arango, Lucia; Castelblanco, Geraldine |
| Abstract: | In this policy note we propose a new country-based sustainability index comprised of three main drivers: climate change, energy use, and resource depletion. We argue that increases in clean energy intensity (clean energy per dollar of GDP), decreases in carbon intensity (carbon emission per dollar of GDP), and water intensity (water used per dollar of GDP) significantly affect sustainability. Supplementary, we compare our proposed index with macroeconomic indicators like GDP, Income per capita and other development indices such as the Human Development Index and the GINI, showing marked differences, which we interpret as unexplored areas for sustainable gains. |
| Keywords: | Sustainability; Climate change; Energy use; Resource depletion |
| JEL: | Q56 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:rie:riecdt:82&r= |
| By: | Antoine FerrÉ (IFPEN - IFP Energies nouvelles - IFPEN - IFP Energies nouvelles, IFP School); Guillaume de Certaines (IFPEN - IFP Energies nouvelles - IFPEN - IFP Energies nouvelles, IFP School); Jérôme Cazelles (IFPEN - IFP Energies nouvelles - IFPEN - IFP Energies nouvelles, IFP School); Tancrède Cohet (IFPEN - IFP Energies nouvelles - IFPEN - IFP Energies nouvelles, IFP School); Arash Farnoosh (IFPEN - IFP Energies nouvelles - IFPEN - IFP Energies nouvelles, IFP School); Frédéric Lantz (IFPEN - IFP Energies nouvelles - IFPEN - IFP Energies nouvelles, IFP School) |
| Abstract: | This paper gives an overview of several models applied to forecast the day-ahead prices of the German electricity market between 2014 and 2015 using hourly wind and solar productions as well as load. Four econometric models were built: SARIMA, SARIMAX, Holt-Winters and Monte Carlo Markov Chain Switching Regimes. Two machine learning approaches were also studied: a Gaussian mixture classification coupled with a random forest and finally, an LSTM algorithm. The best performances were obtained using the SARIMAX and LSTM models. The SARIMAX model makes good predictions and has the advantage through its explanatory variables to better capture the price volatility. The addition of other explanatory variables could improve the prediction of the models presented. The RF exhibits good results and allows to build a confidence interval. The LSTM model provides excellent results, but the precise understanding of the functioning of this model is much more complex. |
| Keywords: | Energy Markets,Renewable Energy,Econometric modelling,Bootstrap Method,Merit-Order effect |
| Date: | 2021–05 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03262208&r= |
| By: | Thomas Schinko; Ariane Weifner; Angela Köppl |
| Abstract: | In the context of research on long-run transformations, such as the low-carbon energy transformation, research interest is growing on how to define and measure human well-being meaningfully. The working paper provides a thorough discussion of the literature on well-being and human needs in the context of energy consumption and confronts this scientific discourse with the concept of energy services, or functionalities. Based on a thorough literature review and a comprehensive stakeholder consultation process, we show, that energy services represent the crucial link between energy use (and related GHG emissions) and human need satisfaction. |
| Date: | 2021–07–02 |
| URL: | http://d.repec.org/n?u=RePEc:wfo:wpaper:y:2021:i:633&r= |
| By: | P. G. J. Persoon; R. N. A. Bekkers; F. Alkemade |
| Abstract: | In the race to achieve climate goals, many governments and organizations are encouraging the regional development of Renewable Energy Technology (RET). The spatial dynamics and successful regional development of a technology partly depends on the characteristics of the knowledge base on which this technology builds, in particular the analyticity and cumulativeness of knowledge. In this study we systematically evaluate these knowledge base characteristics for a set of 13 different RETs. We find that, while several RETs (photovoltaics, fuel-cells, energy storage) have a highly analytic knowledge base and develop more widespread, there are also important RETs (wind turbines, solar thermal, geothermal and hydro energy) for which the knowledge base is less analytic and which develop less widespread. Likewise, the technological cumulativeness tends to be lower for the former than for the latter group. This calls for regional policies to be specific for different RETs, taking for a given RET into account both the type of knowledge it builds on as well as the local presence of this knowledge. |
| Date: | 2021–06 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2106.10474&r= |
| By: | Rebecca J. Davis; J. Scott Holladay; Charles Sims |
| Abstract: | We summarize the history of U.S. coal-fired plant retirements over the last decade, describe planned future retirements, and forecast the remaining operating life for every operating coal-fired generator. We summarize the technology and location trends that are correlated with the observed retirements. We then describe a theoretical model of the retirement decision coal generator owners face. We use retirements from the last decade to quantify the relationships in the model for retired generators. Our model predicts that three-quarters of coal generation capacity will retire in the next twenty years, with most of that retirement concentrated in the next five years. Policy has limited ability to affect retirement times. A $20 per MWh electricity subsidy extends the average life of a generator by six years. A $51 per ton carbon tax brings forward retirement dates by about two years. In all scenarios, a handful of electricity generators remain on the grid beyond our forecast horizon. |
| JEL: | H40 L10 L50 L94 Q4 |
| Date: | 2021–06 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:28949&r= |
| By: | Lavender Yang; Nicholas Z. Muller; Pierre Jinghong Liang |
| Abstract: | We examine the real effects of the Greenhouse Gas Reporting Program (GHGRP) on electric power plants in the United States. Starting in 2010, the GHGRP requires both the reporting of greenhouse gas emissions by facilities emitting more than 25,000 metric tons of carbon dioxide per year to the Environmental Protection Agency and the public dissemination of the reported data in a comprehensive and accessible manner. Using a difference-in-difference research design, we find that power plants that are subject to the GHGRP reduced carbon dioxide emission rates by 7%. The effect is stronger for plants owned by publicly traded firms. We detect evidence of strategic behavior by firms that own both GHGRP plants and non-GHGRP plants. Such firms strategically reallocate emissions between plants to reduce GHGRP-disclosed emissions. We interpret this as evidence that the program is costly to the affected firms. Our results offer new evidence that public or shareholder pressure is a primary channel through which mandatory Corporate Social Responsibility (CSR) reporting programs affect firm behavior. |
| JEL: | G38 L21 M14 M41 Q54 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:28984&r= |
| By: | Lucas W. Davis; Catherine Hausman |
| Abstract: | The growing "electrify everything" movement aims to reduce carbon dioxide emissions by transitioning households and firms away from natural gas toward electricity. This paper considers what this transition means for the customers who are left behind. Like most natural monopolies, natural gas utilities recover fixed costs by spreading fees out over time across their customer base. In periods of a shrinking customer base, this can lead to a lack of fixed cost recovery. To shed light on these dynamics, we use historical evidence from growing and shrinking utilities. We show that in the U.S. during the period 1997-2019 there are many growing utilities, but also hundreds of utilities that experienced sustained periods of customer loss. We then study how the loss of customers impacts utility operations and finances. Utilities that lose customers maintain their pipeline infrastructure even as the customer base financing their operations is shrinking. As a result, historical capital cost recovery and some operations and maintenance costs do not decrease. In keeping with this, we observe that utility revenues shrink, but less than one-for-one -- indicating higher bills for remaining customers. We highlight resulting equity implications -- both across income levels and across racial groups -- of the current push for building electrification and other energy transition policies. We conclude by discussing alternative utility financing options, such as recouping fixed costs through taxes rather than rates. |
| JEL: | L95 L97 Q40 Q48 R11 |
| Date: | 2021–06 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:28955&r= |
| By: | Rashid, Muhammad Mustafa |
| Abstract: | The energy sector is undergoing a rapid transformation and there are many observable signs as to the rapid development of the industry. Many governments around the world have begun to invest in legislation to incorporate sustainable energy and technologies. Hence, they are able to tap the potential of new technological innovation and energy systems. This paper examines energy innovations globally with a particular focus on Saudi Arabia, Malaysia, Indonesia and China. |
| Keywords: | Energy Innovation, Saudi Arabia, Malaysia, Indonesia, China |
| JEL: | Q4 |
| Date: | 2021–03–19 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:108532&r= |
| By: | Kraft, Emil; Russo, Marianna; Keles, Dogan; Bertsch, Valentin |
| Abstract: | Quantity and price risks determine key uncertainties market participants face in electricity markets with increased volatility, for instance due to high shares of renewables. In the time from day-ahead until real-time, there lies a large variation in best available information, such as between forecasts and realizations of uncertain parameters like renewable feed-in and electricity prices. This uncertainty reflects on both the market outcomes and the quantity of renewable generation, making the determination of sound trading strategies across different market segments a complex task. The scope of the paper is to optimize day-ahead and intraday trading decisions jointly for a portfolio with controllable and volatile renewable generation under consideration of risk. We include a reserve market, a day-ahead market and an intraday market in stochastic modeling and develop a multi-stage stochastic Mixed Integer Linear Program. We assess the profitability as well as the risk exposure, quantified by the conditional value at risk metric, of trading strategies following different risk preferences. We conclude that a risk-neutral trader mainly relies on the opportunity of higher expected profits in intraday trading, whereas risk can be hedged effectively by trading on the day-ahead. Finally, we show that reserve market participation implies various rationales, including the relation of expected reserve prices among each other, the relation of expected reserve prices to spot market prices, as well as the relation of the spot market prices among each other. |
| Keywords: | OR in energy,Electricity markets,Multi-stage stochastic programming,Uncertaintymodeling,Risk modeling |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:kitiip:58&r= |
| By: | Bakari, Sayef; Tiba, Sofien |
| Abstract: | This paper aiming at investigating the impact of renewable combustible and waste on the economic growth and environmental quality for the case of Tunisia using the ARDL bounds testing approach during the period 1971-2018. The results confirm the presence of long-run relationships between the combustible renewables and waste and the aggregate wealth proxy and the ecological proxies, respectively. Furthermore, for the production function model, our empirical results reflect that combustible renewables and waste exerts a significant positive effect on economic growth. For the environmental model, the findings confirm that combustible renewables and waste has a negative effect on environmental quality. From this outlook, the perspectives on the use of renewable energy use in Tunisia seem to be constructive and positive. The transition towards friendly energy sources is the main response to the climate emergency for a green economy in accordance with the Millennium Development Goals (MDGs).The encouragement of sustainable consumption, sustainable goods, and practices will be the main element towards the achievement of the green transition of the structure Tunisian economy as a whole. |
| Keywords: | Renewable combustible and waste ; GDP ; CO2 ; ARDL Bounds testing ; Tunisia. |
| JEL: | O40 O44 O47 Q2 Q20 Q28 Q5 Q52 Q54 Q57 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:108616&r= |
| By: | Doris Folini; Felix K\"ubler; Aleksandra Malova; Simon Scheidegger |
| Abstract: | We develop a generic calibration strategy for climate models used in economics. The key idea is to choose the free model parameters to match the output of large-scale Earth System Models, which are run on pre-defined future emissions scenarios and collected in the Coupled Model Intercomparison Project (CMIP5). We propose to use four test cases that are considered pivotal in the climate science literature. Two of these tests are highly idealized to allow for the separate examination of the carbon cycle and the temperature response. Another two tests incorporate gradual changes in CO2 emissions, exogenous forcing, and the temperature response. We re-calibrate the free parameters of the climate part of the seminal DICE-2016 model for three different CMIP5 model responses: the multi-model mean as well as two other CMIP5 models that exhibit extreme equilibrium climate sensitivities. As an additional novelty, our calibrations of DICE-2016 allow for an arbitrary time step in the model explicitly. We show that i) both the temperature equations and the carbon cycle in DICE-2016 are miscalibrated and that ii) by re-calibrating its coefficients, we can match all three CMIP5 targets. We apply the economic model from DICE-2016 in combination with the newly calibrated climate model to compute the social cost of carbon and the optimal warming. We find that in our updated model, the social cost of carbon is very similar to DICE-2016, however, the optimal long-run temperature lies almost one degree below that obtained by DICE-2016. This difference in climate behavior is reflected in the over-sensitivity of the social cost of carbon to the discount rate. Under the optimal mitigation scenario, the temperature predictions of DICE-2016 (in contrast to our proposed calibration) fall outside of the CMIP5 scenarios, suggesting that one might want to be skeptical about policy predictions derived from DICE-2016. |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2107.06162&r= |
| By: | Agyemang, Felix; Fox, Sean; Memon, Rashid |
| Abstract: | Data deficits in developing countries impede evidence-based urban planning and policy, as well as fundamental research. We show that residential electricity consumption data can be used to partially address this challenge by serving as a proxy for relative living standards at the block or neighbourhood scale. We illustrate this potential by combining infrastructure and land use data from Open Street Map with georeferenced data from ~2 million residential electricity meters in the megacity of Karachi, Pakistan to map median electricity consumption at block level. Equivalent areal estimates of economic activity derived from high-resolution night lights data (VIIRS) are shown to be a poor predictor of intraurban variation in living standards by comparison. We argue that electricity data are an underutilised source of information that could be used to address empirical questions related to urban poverty and development at relatively high spatial and temporal resolution. Given near universal access to electricity in urban areas globally, this potential is significant |
| Date: | 2021–06–20 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:razb2&r= |
| By: | Piotr Zebrowski; Matthias Jonas |
| Abstract: | In this working paper we place scenarios of Austria's transition to a green economy in a global context of efforts of international community to limit global warming to the levels outlined in the Paris Agreement. To this end we propose a method of deriving robust and physically grounded budgets of Austria's cumulative GHG emissions that are consistent with the 1.5 °C and the 2 °C warming targets of Paris agreement, respectively. These budgets are based on the most recent estimates of carbon budgets for the 1.5 °C and 2 °C warming targets and delineate a "space for manoeuvre" within which Austria's green transformation must take place if it is to make a desired contribution to humanity's climate-change mitigation efforts. We also derive reference pathways for Austria's GHG emissions that are in line with the 1.5 °C and the 2 °C warming targets, and which inform us about the necessary emission reductions in any given year, e.g., in 2050. We also demonstrate how budgets of cumulative national GHG emissions and corresponding reference emission pathways can be downscaled to provide boundary conditions for a novel approach to modelling economic transformations based on the concept of functionalities. First, we establish how much of GHG emissions is currently caused by providing functionalities Access, Shelter and Other Life Support in Austria. Next, with help of existing EU-wide scenarios of green transition that resolve multiple economic sectors, we assess expected cumulative emissions from sectors not covered by these functionalities. Finally, we subtract these cumulative emissions from the budget of Austria's total GHG emissions and distribute the remainder between the considered functionalities. |
| Date: | 2021–07–08 |
| URL: | http://d.repec.org/n?u=RePEc:wfo:wpaper:y:2021:i:634&r= |
| By: | Zivin, Joshua Graff; Neidell, Matthew; Sanders, Nicholas; Singer, Gregor |
| Abstract: | Influenza and air pollution each pose significant public health risks with large global economic consequences. The common pathways through which each harms health presents an interesting case of compounding risk via interacting externalities. Using instrumental variables based on changing wind directions, we show increased levels of contemporaneous pollution significantly increase influenza hospitalizations. We exploit random variations in the effectiveness of the influenza vaccine as an additional instrument to show vaccine protection neutralizes this relationship. This suggests seemingly disparate policy actions of pollution control and vaccination campaigns jointly provide greater returns than those implied by addressing either in isolation. |
| Keywords: | air pollution; influenza; hospitalizations; vaccines; externalities; ES/R009708/1 |
| JEL: | Q53 I12 I11 |
| Date: | 2021–06–28 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:110964&r= |
| By: | Filippo Belloc; Edilio Valentini |
| Abstract: | We propose a mixture model approach to decompose environmental productivity into a managerial and a technological dimension, and to identify locally optimal technologies. For a large sample of plants covered by the EU Emission Trading System, we find that the average output gains, emissions being equal, that plants could reach by adopting the locally optimal technology and the best managerial practices available in the sector are 162% and 53% respectively, with significant cross-plant and cross-sector differentials. This data driven decomposition delivers important policy insights, as it helps predicting larger reductions in emission intensity from exible policies than from one-size-fits-all technology-based standards |
| Keywords: | Environmental productivity, Emission intensity, Environmental technology, Environmental management |
| JEL: | D24 L60 Q54 Q55 |
| Date: | 2021–06 |
| URL: | http://d.repec.org/n?u=RePEc:usi:wpaper:857&r= |
| By: | Alam, Md. Mahmudul (Universiti Utara Malaysia); Murad, Wahid |
| Abstract: | This study investigates the short-term and long-term impacts of economic growth, trade openness and technological progress on renewable energy use in Organization for Economic Co-operation and Development (OECD) countries. Based on a panel data set of 25 OECD countries for 43 years, we used the autoregressive distributed lag (ARDL) approach and the related intermediate estimators, including pooled mean group (PMG), mean group (MG) and dynamic fixed effect (DFE) to achieve the objective. The estimated ARDL model has also been checked for robustness using the two substitute single equation estimators, these being the dynamic ordinary least squares (DOLS) and fully modified ordinary least squares (FMOLS). Empirical results reveal that economic growth, trade openness and technological progress significantly influence renewable energy use over the long-term in OECD countries. While the long-term nature of dynamics of the variables is found to be similar across 25 OECD countries, their short-term dynamics are found to be mixed in nature. This is attributed to varying levels of trade openness and technological progress in OECD countries. Since this is a pioneer study that investigates the issue, the findings are completely new and they make a significant contribution to renewable energy literature as well as relevant policy development. |
| Date: | 2019–12–31 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:wj45u&r= |
| By: | Kwon, Ohyun (Drexel University); Zhao, Hao (Chapman University); Zhao, Min Qiang (Xiamen University) |
| Abstract: | Under a heterogeneous firm framework, this paper demonstrates a novel channel through which emissions cap-and-trade mitigates production-side distortion vis-à-vis an emissions cap. Specifically, a pro rata emissions cap across firms is excessively stringent for more productive firms, leading to negative reallocation in favor of less productive firms. Allowing firms to trade emission permits restores the efficiency loss via positive reallocation without increasing total emissions. Our empirical investigation that exploits the regional and temporal variation in the implementation of cap and cap-and-trade policies in China shows that the emission intensities of more productive firms declined and then increased relative to those of their less productive counterparts following the sequential implementation of emissions cap and cap-and-trade, confirming our key theoretical prediction. Provinces that implemented emissions cap-and-trade achieved greater output growth while being equally effective in curbing total emissions. |
| Keywords: | emissions cap-and-trade; heterogeneous firms; reallocative efficiency |
| JEL: | L51 Q53 Q58 |
| Date: | 2021–06–21 |
| URL: | http://d.repec.org/n?u=RePEc:ris:drxlwp:2021_013&r= |
| By: | Huntington, Hillard G. |
| Abstract: | Model evaluation is best considered as a process for communicating with the policymaking or policy-advising community. Six decades of energy modelling have witnessed increasing complexity in these systems, a situation that raises a number of important challenges in using them effectively in policymaking organizations. When used as a learning rather than forecasting tool, these systems can be evaluated individually one by one or through joint efforts to compare them in multi-model exercises. After summarizing the evolution of energy modelling and efforts to evaluate them since the first oil embargo, this essay provides a guide to future evaluation collaborations by highlighting a few challenges that would improve the value of these studies for the policymaking community. These challenges range broadly and cover topics such as enhancing the engagement of the model user, ventilating the models’ complexity with intuitive insights, using simple models to demonstrate key parameters or responses, applying judicious occasional meta-analysis when there is value added, reporting model responses and calibrating them for decisionmakers, considering retrospective evaluation for a past period (when possible), selecting standardized or modeler-choice baseline conditions, selectively developing policy or diagnostic alternative cases, and institutionalising the model evaluation process for a specific topic or region. |
| Keywords: | Energy Policymaking; Model Evaluation; Model Comparison |
| JEL: | C54 Q41 Q54 |
| Date: | 2021–06–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:108691&r= |
| By: | Suryadeepto Nag; Siddhartha P. Chakrabarty; Sankarshan Basu |
| Abstract: | Investor awareness about impending regulations requiring firms to reduce their carbon footprint has introduced a carbon transition risk premium in the stocks of firms. On performing a cross-section analysis, a significant premium was estimated among large caps in the US markets. The existence of a risk premium indicates investor awareness about future exposure to low-carbon transition. A new measure, the Single Event Transition Risk (SETR), was developed to model the maximum exposure of a firm to carbon transition risk, and a functional form for the same was determined, in terms of risk premia. Different classes of distributions for arrival processes of transition events were considered and the respective SETRs were determined and studied. The trade-off between higher premia and higher risks was studied for the different processes, and it was observed that, based on the distributions of arrival times, investors could have a lower, equal or higher probability of positive returns (from the premium-risk trade-off), and that despite a fair pricing of the carbon premium, decisions by investors to take long or short positions on a stock could still be biased. |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2107.06518&r= |
| By: | Cremer, Helmuth; Borsenberger, Claire; Joram, Denis; Lozachmeur, Jean-Marie; Malavolti, Estelle |
| Abstract: | We study the design of environmental policy in the e-commerce sector and examine two main questions. First, what is the appropriate level of intervention along the value chain. Second, which instruments should be used at a specic level in the vertical chain? We consider a model with two retailers/producers who sell a di¤erentiated product and two parcel delivery operators. The production, retailing and delivery of these goods generates CO2 emissions. We assume that it is more expensive for the retailers and the delivery operators to use greentechnologies. We consider di¤erent scenarios reecting the type of competition and the vertical structure of the industry. In all cases the equilibria are ine¢ cient for two reasons. First, at both level of the value chain (at the production/retailing stage and the delivery stage), the levels of emissions are too large (given the output levels - the number of items produced and delivered). Second the levels of outputs are not e¢ cient because the cost of emissions is not reected by the consumer prices. We show that in the perfect competition scenario a uniform Pigouvian tax on emission, reecting the marginal social damage, is su¢ cient to correct both types of ine¢ ciencies. Under imperfect competition a Pigouvian emissions tax is also necessary, but it has to be supplemented by positive or negative taxes on the quantity of good produced and delivered. The specic design of these instruments is a¤ected by vertical integration between a retailer and a delivery operator. |
| Keywords: | Pigouvian rule; emission taxes; output taxes; E-commerce, delivery operators; vertical integration |
| JEL: | H21 L42 L87 |
| Date: | 2021–07–03 |
| URL: | http://d.repec.org/n?u=RePEc:tse:wpaper:125780&r= |
| By: | Matson, Grant; McElroy, Sean; Circella, Giovanni; Lee, Yongsung |
| Abstract: | The onset of the COVID-19 pandemic caused massive travel disruptions across the country. Many people nationwide shifted to telework following stay-at-home orders, while those providing essential operations and services continued to travel to work. The pandemic’s impacts on travel behavior have complex environmental and equity implications. Telecommuting can be a means of decreasing vehicle miles traveled and greenhouse gas emissions associated with commuter travel and can reduce congestion during peak times. However, not all jobs can be performed from home. Policymakers and regulators who are considering policies to encourage telecommuting to achieve greenhouse gas reduction goals need to consider potential inequities that may arise or be intensified by these policies. Researchers at the University of California, Davis examined the impacts of the COVID-19 pandemic on telecommuting patterns among various socio-demographic groups in the United States. During the early stages of the pandemic in Spring 2020 they reached out to households that had participated in previous longitudinal travel studies to measure changes in household activities, personal preferences, and travel patterns due to the pandemic. This policy brief summarizes the findings from that research and provides policy implications. View the NCST Project Webpage |
| Keywords: | Social and Behavioral Sciences, Automobiles, Demographics, Shared mobility, Travel behavior, Energy consumption, Greenhouse gases, Mobility, Mode choice, Travel survey |
| Date: | 2021–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt5f46r97r&r= |
| By: | Strüker, Jens; Weibelzahl, Martin; Körner, Marc-Fabian; Kießling, Axel; Franke-Sluijk, Ariette; Hermann, Mike |
| Abstract: | Das erfolgreiche und schnelle Erreichen von Nachhaltigkeitsund Klimaschutzzielen rückt zunehmend in den Fokus des politischen, wirtschaftlichen und gesellschaftlichen Handelns. Vor diesem Hintergrund kann und muss die Energiewirtschaft weiter wesentlich zur Dekarbonisierung in Deutschland und ganz Europa beitragen. Für eine erfolgreiche Transformation hin zu einem nachhaltigen Energiesystem im Rahmen des Pariser Klimaabkommens und des europäischen Green Deal stehen damit nun die umfassende Modernisierung und insbesondere die Digitalisierung der Energiewirtschaft an. Ziel dieses Thesenpapiers ist es, die Diskussion über die Digitalisierung der Energiewirtschaft zu intensivieren und insbesondere Empfehlungen für ein flexibles und proaktives Handeln aller relevanten Akteure zu skizzieren. Die Universität Bayreuth, die Projektgruppe Wirtschaftsinformatik des Fraunhofer FIT und den europäischen Übertragungsnetzbetreiber TenneT eint die Vision eines klimaneutralen Wirtschaftswachstums auf Basis der Innovationskraft der europäischen Wirtschaft. Im Jahr 2021 prägt die Dekarbonisierung bereits die Digitalisierung der Energiewirtschaft: Nach den eingeleiteten Schritten zur Transformation der Energiewirtschaft hin zu mehr Nachhaltigkeit im Zuge der Energiewende in den letzten Jahren geht es nun darum, nachhaltiges Wachstum zu beschleunigen und dabei die Energieversorgung weiterhin sicher und wirtschaftlich zu halten. Einen wesentlichen Baustein dieser Entwicklung bildet die Elektrifizierung weiterer Sektoren. Entsprechend diskutieren wir die Rolle des Netzausbaus im Hinblick auf die Sektorenkopplung und betonen die durchgängige Digitalisierung energiewirtschaftlicher Prozesse. Dabei stellen wir die Bedeutung dezentraler digitaler Identitäten als vielversprechendes Instrument heraus, um die aktuelle digitale Lücke zu überwinden, und verweisen so insbesondere auf die Notwendigkeit von digitalen Zertifikaten für eine durchgängige Dekarbonisierung. In Anbetracht der Dringlichkeit klimapolitischer Maßnahmen empfehlen wir eine Innovationspolitik, die es erlaubt, vielversprechende Lösungsansätze agil zu erproben und rasch hieraus zu lernen. Das Thesenpapier schließt mit einem Ausblick auf das Monitoring der CO2-Emissionen von Netzausbauprojekten und richtet sich insgesamt an politische Entscheidungsträger*innen, Akteure der Energiewirtschaft und alle energiepolitisch interessierten Bürger*innen. |
| Keywords: | Digitalisierung,Dekarbonisierung,Energiewirtschaft,CO2 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:bayism:67&r= |
| By: | Mohajan, Haradhan |
| Abstract: | This study tries to discuss aspects of application of circular economy (CE) in Germany. Since the start of the First Industrial Revolution (start in 1760), more than 260 years ago, there becomes enormous development in global linear economy (LE) on the basis of ‘take, make and dispose’. Modern various technologies, such as automobiles, electricity, telephones, mobile phones, transistors, airplanes, computers, and the internet have brought enormous change in production and consumption. But unsustainable side effects of LE are; loss of biodiversity, deforestation, environment pollution, climate change, etc. On the other hand, CE represents a sustainable economy. It keeps resources and materials, as long as, possible. The purpose of this study is to show the importance and beneficial effects of a realized CE on the economic, environmental and social sectors for the success of global sustainable development and the contribution of CE in Germany. Germany is the first country in the world that tries to implement CE by using technologies of waste and resource management. |
| Keywords: | Circular economy, Germany, sustainable development, waste management |
| JEL: | D6 G1 I3 O1 |
| Date: | 2021–03–21 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:108566&r= |
| By: | Kim, Seung-Leul; Lee, Sang-Ho |
| Abstract: | This study considers eco-technology licensing strategy by a foreign innovator that competes with a polluting domestic firm in the home country. We examine and compare the two-part licensing contracts with and without non-negative constraints on the royalty or a fixed fee. We find that the licensor may choose either negative royalty or negative fixed fee, depending on the levels of emissions tax and tariff. We then examine the government’s optimal tariff policies under the emissions tax and demonstrate that allowing a non-restrictive two-part licensing contract is better for domestic welfare than a restrictive licensing contract. We also reveal that the tariffs under the two-part licensing have a negative relationship with emissions taxes, but the tariff with non-restrictive licensing is higher than that with restrictive licensing. |
| Keywords: | Eco-technology; tariff policies; emissions tax; non-restrictive two-part licensing; foreign innovated firm |
| JEL: | D45 H23 L13 |
| Date: | 2021–06 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:108496&r= |
| By: | Amir, Md. Khaled |
| Abstract: | This research paper intends to evaluate an idea about bankers’ perceptions on green banking by getting a candid opinion from conventional banks’ bankers in Bangladesh based on a quality survey questionnaire covers relevant areas like benefits of green banking, superior officials who serve green banking services, taken eco-friendly initiatives, getting support from proper authorities, safeguarding environment pollution and rewards for adopting green banking. Considering the highest mean score of items in each group, this paper insights about green banking is environment-friendly banking, managers and officers are resourceful, emphasizes on recycling of left-over materials, keeping the environment pollution free, and performs to reduce resource wastages. This paper also finds that support from the government should be getting heightened priority to enhance its performance and area. So it can be easily presumed that green banking already put a great impact on a great portion of the banking industry in Bangladesh so far. |
| Keywords: | Green banking;Bankers’ Perception;Environment friendly;Carbon emission; Pollution reduction |
| JEL: | M1 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:108460&r= |
| By: | Xu, Lili; Chen, Yuyan; Lee, Sang-Ho |
| Abstract: | This study considers strategic relations between emission tax and environmental corporate social responsibility (ECSR) in a Cournot–Bertrand comparison, and analyzes two different timings of the games between a tax-then-ECSR (T game) and an ECSR-then-tax (E game). We show that the T game always yields higher emission tax than the E game irrespective of competition modes, but lower ECSR under Cournot while higher ECSR when the marginal damage is high under Bertrand. Additionally, compared with Bertrand, Cournot yields lower (higher) ECSR in the T (E) game, but lower emission tax in the E game while higher emission tax when the product substitutability is low in the T game. We finally show that firms always prefer Cournot competition with the commitment of E game irrespective of the product substitutability and marginal damage. |
| Keywords: | Emission tax; environmental corporate social responsibility; Cournot–Bertrand comparison; tax-then-ECSR; ECSR-then-tax |
| JEL: | H23 L13 M14 |
| Date: | 2021–06 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:108498&r= |
| By: | Anne Blavette (SATIE - Systèmes et Applications des Technologies de l'Information et de l'Energie - ENS Rennes - École normale supérieure - Rennes - CNAM - Conservatoire National des Arts et Métiers [CNAM] - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique - ENS Paris Saclay - Ecole Normale Supérieure Paris-Saclay - Université Gustave Eiffel - CY - CY Cergy Paris Université); Charles‐henri Bonnard (GREEN - Groupe de Recherche en Energie Electrique de Nancy - UL - Université de Lorraine, ENSEM - Ecole Nationale Supérieure d'Electricité et de Mécanique - UL - Université de Lorraine); Ildar Daminov (IREENA - Institut de Recherche en Electrotechnique et Electronique de Nantes Atlantique EA4642 - Polytech Nantes - Ecole Polytechnique de l'Université de Nantes - UN - Université de Nantes, SATIE - Systèmes et Applications des Technologies de l'Information et de l'Energie - ENS Rennes - École normale supérieure - Rennes - CNAM - Conservatoire National des Arts et Métiers [CNAM] - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique - ENS Paris Saclay - Ecole Normale Supérieure Paris-Saclay - Université Gustave Eiffel - CY - CY Cergy Paris Université); Salvy Bourguet (IREENA - Institut de Recherche en Electrotechnique et Electronique de Nantes Atlantique EA4642 - Polytech Nantes - Ecole Polytechnique de l'Université de Nantes - UN - Université de Nantes); Thomas Soulard (LHEEA - Laboratoire de recherche en Hydrodynamique, Énergétique et Environnement Atmosphérique - ECN - École Centrale de Nantes - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Dynamic rating is an approach which implies to operate an electrical network closer to its thermal limits. This approach may be very beneficial for wave farms, as they are expected to present a highly fluctuating electrical current profile while benefiting from the large thermal inertia of the soil where their export cable will be buried. However, as the implementation of this approach is still in its infancy for offshore wind farms, it may be expected that the first wave farms, under the form of small-scale test sites, will be sized with respect to electrical current limits at a first stage. This sizing may be upgraded at a second stage when design methods will have included dynamic rating. However, this raises the question of the economic feasibility of this two-step approach, which is studied in this paper. Also, performing such a techno-economic analysis requires developing an electrothermal model of the export cable able to represent its transient response in a sufficiently precise manner while requiring also a reasonable computing time. In this perspective, a comparative analysis between several electrothermal modelling methods is also described in this paper. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03246886&r= |
| By: | Julia M. Puaschunder (The New School, New York, USA) |
| Abstract: | Monitoring and Evaluation is used in the assessment of the performance of projects, institutions and programmes by governments, international organizations, Non-governmental organizations (NGOs) as well as social media campaigns. The goal of M&E is to improve the current and future management of outputs, outcomes and impact. As the continuous assessment of programmes, M&E grants insights for the controlled evolution of large-scale projects’ relevance, effectiveness, efficiency and impact on a grand scale and with a future-oriented outlook. This article applies an M&E lens to the United States’ Green New Deal (GND) as well as its European pendant the European Green Deal (EGD). Both programs are large-scale endeavors with a long-term impact. |
| Keywords: | Climate Bonds, Climate Change, Economics of the Environment, Ecotax, Environmental Justice, Environmental Governance, Fiscal Policy, Green New Deal, Monetary Policy, Multiplier, Sustainability, Teaching |
| Date: | 2021–03 |
| URL: | http://d.repec.org/n?u=RePEc:smo:lpaper:0041&r= |
| By: | Adrien Fabre (ETHZ ZURICH CHE - Partenaires IRSTEA - IRSTEA - Institut national de recherche en sciences et technologies pour l'environnement et l'agriculture); Bénédicte Apouey (PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Thomas Douenne (UvA - University of Amsterdam [Amsterdam]); Jean-Michel Fourniau (IFSTTAR - Institut Français des Sciences et Technologies des Transports, de l'Aménagement et des Réseaux - IFSTTAR - Institut Français des Sciences et Technologies des Transports, de l'Aménagement et des Réseaux - PRES Université Paris-Est); Louis-Gaëtan Giraudet (CIRED - Centre International de Recherche sur l'Environnement et le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique); Jean-François Laslier (PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Solène Tournus (MSHPN - Maison des sciences de l'Homme Paris Nord - UP8 - Université Paris 8 Vincennes-Saint-Denis - CNRS - Centre National de la Recherche Scientifique - Université Sorbonne Paris Nord) |
| Abstract: | We conduct surveys on both participants in the French Citizens Convention for Climate (CCC) and the general public. By comparing the answers of the randomly drawn citizens with those of the general population on identical questions, we assess the representativity of the CCC, study the evolution of the citizens' opinions, and document the perceptions of the CCC. The CCC appeared broadly representative of the French population. Although, the CCC's Citizens seemed to have been somewhat more favorable to climate policies than the general population at the start, a majority support was found for all proposed measures but one. Despite our findings that the CCC correctly represented the population, we document widespread ignorance and mistrust towards the CCC, including a largely shared belief that it was not representative. |
| Keywords: | Convention Citoyenne pour le Climat,Climate change,Sortition,Citizens Assembly |
| Date: | 2021–06 |
| URL: | http://d.repec.org/n?u=RePEc:hal:psewpa:halshs-03265053&r= |
| By: | Thierry Déau (Meridiam) |
| Abstract: | Driven by the strong mobilization of its population, Europe is at the forefront of impact investing and sustainable development. The time is ripe to take advantage of this advance and these societal changes to transform finance into a more "sustainable finance", integrating all the parameters of development, and not only the essential fight against climate change. The many legislative changes expected within the framework of the European Green Deal could prove to be decisive in taking these factors into account, and allow us to make our mark. Meridiam's long experience in financing sustainable infrastructure projects allows us to retain some major principles to maximize their impact. Measuring results, setting objectives and giving ourselves the means to achieve them represent the key elements and challenges of sustainable finance in which a lasting impact is decided on a daily basis. |
| Abstract: | Poussée par la mobilisation forte de sa population, l'Europe est à la pointe de l'investissement à impact et du développement durable. Il est nécessaire de capitaliser sur cette avance et ces changements sociétaux pour transformer la finance en « finance durable », intégrant tous les paramètres de développement, et non pas uniquement la lutte contre le changement climatique, évidemment indispensable. Les nombreuses évolutions législatives attendues dans le cadre du Green deal européen pourront se révéler décisives dans la prise en compte de ces facteurs, sur lesquels nous pouvons encore imprimer notre marque. La longue expérience de Meridiam dans le financement de projets d'infrastructures durables permet de dégager quelques grands principes pour maximiser leur impact. La mesure des résultats et la fixation d'objectifs, en se donnant les moyens de les atteindre, sont à la fois la clef et le défi de la finance durable : avoir de l'impact dans la durée se décide au quotidien. |
| Date: | 2021–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03277167&r= |
| By: | Atkinson, Giles; Gelan, Ayele |
| Abstract: | We explore the challenge of sustainability in Kuwait and, in doing so, explore three distinct (but related) questions surrounding this. First, we assess development prospects in Kuwait using metrics of national wealth and natural capital. Secondly, we construct a comprehensive greenhouse gas (GHG) emissions inventory for Kuwait. Third, we provide a risk assessment for Kuwait of climate change impacts by combining an economic model with different climate scenarios relevant to Kuwait’s food security. Our findings on wealth accounting and our GHG inventory point to the importance of strengthening, and extending, statistical systems in Kuwait. The benefits of this would be improved sustainability benchmarks (against which official national savings commitments can be evaluated) and a more robust basis for judging GHG reduction strategies (given our finding that existing data sources underestimate Kuwait emissions). Moreover, understanding climate risks for Kuwait is crucial to prudent assessment of development prospects. We show that food security is a useful starting point for this and investigate the impacts of changing world food prices on the cost of imports and scope for substituting for domestic activities in both the food. production and processing sectors |
| JEL: | N0 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:110972&r= |
| By: | Julia M. Puaschunder (The New School, New York, USA) |
| Abstract: | Globalization leveraged pressure on contemporary society. Today's most pressing social dilemmas regarding climate change demand for inclusive solutions that marry the idea of sustainable growth with environmental economics. Understanding the bounds of environmental limits to avoid ethical downfalls beyond the control of singular nation states infringing on intergenerational equity – the fairness to provide an at least as favorable standard of living to future generations as enjoyed today – has become a blatant demand. In a history of turning to natural law as a human-imbued moral compass for solving societal downfalls on a global scale in times of crises; the paper covers the ethical justification for environmental economics. Climate change demands for intergenerational equity in the 21st century and climate justice attention around the globe, while the gains and losses of a warming globe are distributed unequally. Only ethical foundations and imperatives will help to provide the groundwork on climate justice within a society, around the world and over time. Ethics of the environment derived from a human natural drive towards intergenerational fairness back climate justice based governance and private sector solutions. |
| Keywords: | Climate Bonds, Climate Change, Climate Justice, Climatorial Imperative, Economics of the Environment, Ethics, Environmental Justice, Environmental Governance, Heidegger, Kant, Public Policy, Rawls, Sustainability, Teaching |
| Date: | 2021–03 |
| URL: | http://d.repec.org/n?u=RePEc:smo:lpaper:0043&r= |
| By: | Levi, Sebastian; Goldberg, Matthew H. |
| Abstract: | Climate change concern varies widely across countries. In 2019, 80% of Greeks were at least somewhat worried about climate change, compared to 20% of Egyptians. We argue that variation in climate change concern is partially caused by differences in democracy. Civil liberties protect climate communicators from state repression, censorship, and violence. We offer empirical evidence for the causal effect of democracy on climate change concern using data from 611,909 individuals from 118 countries collected between 2007 and 2019. Exploiting variation in civil liberties across countries and time, we find one unit change in the 7-point civil liberty index to influence climate change concern by 2.3 [95% CI: ±1] percentage points. The effect is much stronger in wealthy countries and less educated cohorts. We also present evidence for our causal pathway using qualitative interviews and by modeling the association between democracy, climate protest, media coverage, and climate concern with simultaneous equations. |
| Date: | 2021–07–08 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:6vk9d&r= |
| By: | Julia M. Puaschunder (The New School, New York, USA) |
| Abstract: | Globalization leveraged pressure on contemporary society. Today's most pressing social dilemmas regarding climate change demand for inclusive solutions that marry the idea of sustainable growth with environmental economics. Understanding the bounds of environmental limits to avoid ethical downfalls beyond the control of singular nation states infringing on intergenerational equity – the fairness to provide an at least as favorable standard of living to future generations as enjoyed today – has become a blatant demand. In a history of turning to natural law as a human-imbued moral compass for solving societal downfalls on a global scale in times of crises; the paper covers the ethical justification for environmental economics. Climate change demands for intergenerational equity in the 21st century and climate justice attention around the globe, while the gains and losses of a warming globe are distributed unequally. Only ethical foundations and imperatives will help to provide the groundwork on climate justice within a society, around the world and over time. Ethics of the environment derived from a human natural drive towards intergenerational fairness back climate justice based governance and private sector solutions. |
| Keywords: | Climate Bonds, Climate Change, Climate Justice, Climatorial Imperative, Economics of the Environment, Ethics, Environmental Justice, Environmental Governance, Heidegger, Kant, Public Policy, Rawls, Sustainability, Teaching |
| Date: | 2021–03 |
| URL: | http://d.repec.org/n?u=RePEc:smo:lpaper:0039&r= |