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on Energy Economics |
| By: | Karakosta, Ourania; Petropoulou, Dimitra |
| Abstract: | Several EU member states have introduced national systems of Tradable Green Certificates (TGCs), which stipulate the percentage of total energy consumption to be obtained from renewable sources. The Renewable Energy Directive sets a binding EU-wide target of 32% but without imposing legally binding national targets. To assess incentives for the choice of national percentage requirements we develop a two-country, Cournot duopoly model of the electricity market, with one "green" and one "black" supplier in each country. We show that nationally determined percentage requirements do not align with the EU-welfare maximizing renewable energy target due to cross-country externalities arising from trade in electricity and the market price of TGCs and examine the direction of misalignment. Our results cast doubts on the feasibility of EU renewable energy policy in the absence of binding national targets and inform how national targets should be shaped. |
| Keywords: | Elsevier deal |
| JEL: | R14 J01 |
| Date: | 2022–04–27 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:114973&r= |
| By: | Mario Kendziorski; Leonard G\"oke; Christian von Hirschhausen; Claudia Kemfert; Elmar Zozmann |
| Abstract: | In this paper, we explore centralized and more decentral approaches to succeed the energiewende in Germany, in the European context. We use the AnyMOD framework to model a future renewable-based European energy system, based on a techno-economic optimization, i.e. cost minimization with given demand, including both investment and the subsequent dispatch of capacity. The model includes 29 regions for European countries, and 38 NUTS-2 regions in Germany. First the entire energy system on the European level is optimized. Based on these results, the electricity system for the German regions is optimized to achieve great regional detail to analyse spatial effects. The model allows a comparison between a stylized central scenario with high amounts of wind offshore deployed, and a decentral scenario using mainly the existing grid, and thus relying more on local capacities. The results reveal that the cost for the second optimization of these two scenarios are about the same: The central scenario is characterized by network expansion in order to transport the electricity from the wind offshore sites, whereas the decentral scenario leads to more photovoltaic and battery deployment closer to the areas with a high demand for energy. A scenarios with higher energy efficiency and lower demand projections lead to a significant reduction of investment requirements, and to different localizations thereof. |
| Date: | 2022–05 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2205.09066&r= |
| By: | Ferguson, Beth |
| Abstract: | Electric bicycle charging facilities that support active mobility and public transit connectivity can play a significant role in the global transition to low-carbon energy. Design of an electric bicycle solar charging station can combine solar technology, light transportation infrastructure, and civic place-making to provide the public an opportunity to recharge their mobile electronics, e-bikes, or e-scooters. The proposed station design reimagines public space by providing a shaded seating area during the day and a vibrant, LED-lit space at night. Four solar panels and a battery bank extend the station’s charging capacity into the night. The goal of this project is to serve as an off-grid energy power supply and environmental information center, with interactive displays of the solar station operation and an LED display of local air quality. View the NCST Project Webpage |
| Keywords: | Architecture, Engineering, Solar energy, electric bike, EV charging station, renewable energy |
| Date: | 2022–05–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt16r0g54f&r= |
| By: | Luciano Losekann (IPC-IG); Amanda Tavares (IPC-IG) |
| Keywords: | emissions; energy systems; energy transition; BRICS; sustainable development |
| Date: | 2021–05 |
| URL: | http://d.repec.org/n?u=RePEc:ipc:pbrief:74&r= |
| By: | Nezar Alhaidari; Amro Elshurafa; Frank Felder (King Abdullah Petroleum Studies and Research Center) |
| Abstract: | Saudi Arabia’s Ministry of Energy has set ambitious renewable energy goals. Although the Kingdom’s current energy mix is dominated by conventional energy (>95%), it aims to draw 50% of its energy from renewable sources by 2030. Currently, the Kingdom enjoys very high solar photovoltaic potential, and it is also well positioned for wind generation. Thus, studying the reliability of highly renewable power systems and the impact of converting conventional generation to renewable energy is of paramount importance. The latter analysis is important because temperatures in the Kingdom are often high for a considerable portion of the year. |
| Keywords: | Battery storage, Benefits of electricity trade, Business models, Climate change |
| Date: | 2021–12–13 |
| URL: | http://d.repec.org/n?u=RePEc:prc:dpaper:ks--2021-dp21&r= |
| By: | Fatih Yilmaz (King Abdullah Petroleum Studies and Research Center) |
| Abstract: | The global energy system’s current structure has severe environmental consequences that necessitate an urgent transformation toward more sustainable alternatives. Besides many available mitigation actions, such as enhancing energy efficiency, deploying nuclear energy, switching fuels and adopting carbon capture technologies, renewable energy (RE) has been the most widely applied one in many countries, especially for the power sector. The average country-level share of non-hydroelectric renewable energy (NhRE) in power generation rose sixfold over the last two decades, from less than 1% in 2000 to roughly 6% in 2018. Despite its wide application, significant heterogeneity exists in the RE transition across countries. |
| Keywords: | Battery storage, Benefits of electricity trade, Business models, Climate change |
| Date: | 2021–11–13 |
| URL: | http://d.repec.org/n?u=RePEc:prc:dpaper:ks--2021-dp25&r= |
| By: | Issaka Dahani (LDES - Laboratoire Dynamique des Espaces et Sociétés - UJZK - Université Joseph Ki-Zerbo [Ouagadougou]) |
| Abstract: | The city of Ouagadougou is the most important economic, spatial and demographic city in Burkina Faso. This agglomeration is the capital of the country; it is the chief town of the Centre region, of the Kadiogo province and of the urban commune to which it belongs. The population that it houses develops it according to their needs and capacity. However, these developments do not follow the capacity of basic social services such as electricity distribution. The analysis of the sustainable city point of view shows that the use of solar energy is a sustainable palliative solution for the electricity needs in the city of Ouagadougou. The present investigation is essentially based on documentary and field research; it aims at assessing the contribution of solar energy in the development of the city of Ouagadougou in Burkina Faso. Thus, it has emerged the urgency that policies on access to energy must fully integrate the logic of sustainable city and that Ouagadougou should benefit more from solar energy supply for an economy more respectful of environmental standards and sustainable. |
| Abstract: | La ville de Ouagadougou est la plus importante sur les plans économique, spatial et démographique au Burkina Faso. Cette agglomération est la capitale du pays ; elle est le chef-lieu de la région du Centre, de la province du Kadiogo et de la commune urbaine à laquelle elle appartient. La population qu'elle abrite l'aménage aux grés de leur besoin et de leur capacité. Cependant ces aménagements ne suivent pas la capacité des services sociaux de base comme la distribution de l'électricité. L'analyse du point de vue ville durable donne de s'apercevoir que l'usage de l'énergie solaire est une solution palliative durable pour les besoins en électricité dans la ville de Ouagadougou. La présente investigation est essentiellement basée sur une recherche documentaire et de terrain ; elle vise à apprécier la contribution de l'énergie solaire dans le développement de la ville de Ouagadougou au Burkina Faso. Ainsi, il en est ressorti l'urgence que les politiques en matière d'accès à l'énergie doivent intégrer pleinement les logiques de ville durable et que Ouagadougou devrait plus bénéficier de fourniture en énergie solaire pour une économie plus respectueuse des normes environnementales et durable. |
| Keywords: | solar energy,development,urban,énergie solaire,développement,urbain |
| Date: | 2022–02–28 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03635901&r= |
| By: | Stephen K. Dimnwobi (Nnamdi Azikiwe University Awka, Nigeria); Chekwube V. Madichie (Pan-Atlantic University, Lagos, Nigeria); Chukwunonso Ekesiobi (Chukwuemeka Odumegwu Ojukwu University, Nigeria); Simplice A. Asongu (Yaoundé, Cameroon) |
| Abstract: | Financial sector performance is increasingly linked with the transition to renewable energy in the sustainability discourse of developing economies. This paper examines the nexus and implication (s) of financial development on renewable energy consumption in Nigeria (the largest and most populous economy in Africa). Specifically, this study utilised the broad based financial development index data to effectively address the multidimensional nature of financial development and the portion of renewable energy in total energy consumption as key variables, while other relevant pieces of information (growth rate of per capita GDP, foreign direct investment and consumer price index) were incorporated. The study employed a blend of the ADF test and Zivot-Andrew test to ascertain stationarity properties as well as the likelihood of structural breaks, while the ARDL was utilized to determine the long-run relationship(s) using data from 1981 to 2019. The study estimation finds, among other things, that financial development is critical for renewable energy consumption in Nigeria and recommends policies to promote better outcomes for the financial and energy sectors, respectively. |
| Keywords: | Financial development; Renewable energy consumption; Nigeria |
| Date: | 2022–01 |
| URL: | http://d.repec.org/n?u=RePEc:exs:wpaper:22/024&r= |
| By: | Batsirai Brian Matanhire (Cambridge Resources International Inc.); Mikhail Miklyaev (Department of Economics, Queens University, Kingston, Ontario, Canada, K7L3N6 and Cambridge Resources International Inc.) |
| Abstract: | This study is an instructive tool in the appraisal of electricity projects, supplements the Public Investment Management Guidelines (PIM Guidelines) and the Public Investment Management Manual (PIM Manual). It is designed to aid public officials working within the electricity sector of Zimbabwe, primarily those who play a role in the planning, regulation, appraisal, development, selection, budgeting, and implementation of electricity projects. It outlines the procedural stages required to conduct a robust appraisal, starting with project conception through the development of a Project Concept Note (PCN) and continuing into the Pre-Feasibility Study (PFS) and Feasibility Study (FS) stages. |
| Keywords: | Cost Benefit Analysis, Electricity, Public Investment, Zimbabwe |
| JEL: | D61 H54 O55 |
| Date: | 2022–04–19 |
| URL: | http://d.repec.org/n?u=RePEc:qed:dpaper:4589&r= |
| By: | Cathrine Hagem (Statistics Norway); Snorre Kverndokk; Eric Nævdal; Knut Einar Rosendahl |
| Abstract: | Abatement can be performed by measures that have an impact on present emissions, but no lasting effect, and by long-lived infrastructure investments. We study the optimal combination of short and long-lived options for reducing greenhouse gas (GHG) emissions, by specifying abatement cost functions depending on abatement from these two options. Electrification of the transport sector is used as an example. A transition from internal combustion engines vehicles (ICEVs) to electric vehicles (EVs) can be incentivized by both subsidies on purchases of EVs and increased density of fast chargers. Subsidizing the purchase of EVs only leads to emissions reductions in the next few years (static option), whereas investment in infrastructure also will reduce abatement costs in several years to come (dynamic option). We find that the present marginal abatement cost of the dynamic alternative exceeds the costs of static abatement in optimum, thus the dynamic option may be profitable even if it is more expensive. A higher expected abatement cost in later periods most likely makes it even more profitable to use the dynamic policy instrument. This framework is used for a numerical study on electrification of the transport sector in Norway. The numerical simulations confirm the results of the theory model. Flexibility in the domestic target over time and the presence of an international permit market affect the combination of static and dynamic abatement. This stresses the importance of early and time consistent plans for international regulations of GHG emissions. |
| Keywords: | Emissions permit market; infrastructure investments; electric vehicles |
| JEL: | C63 H21 Q54 R42 |
| Date: | 2022–05 |
| URL: | http://d.repec.org/n?u=RePEc:ssb:dispap:980&r= |
| By: | Karel Janda (Institute of Economic Studies, Faculty of Social Sciences, Charles University & Faculty of Finance and Accounting, Prague University of Economics and Business, Prague, Czech Republic); Salim Turdaliev (Institute of Economic Studies, Faculty of Social Sciences, Charles University, Prague, Czech Republic) |
| Abstract: | This paper investigates the relationship between the increasing-block-tariffs (IBT) for electricity, and the propensity of households to purchase dirty fuels. We combine RLMS-HSE, a panel household data, with the introduction of the IBT schemes for residential electricity in three experimental regions of Russia to analyze this relationship. Using differences-in-differences empirical specifications we find that the propensity to purchase dirty fuels has increased in the regions where the IBT schemes were introduced. Depending on the specification, and the type of household we find that the size of the increase varies from more than 3-percentage points to about 15-percentage points. This accounts for a roughly 70% increase, and a 90% increase respectively compared to the similar households in the regions that did not implement IBT pricing schemes for residential electricity. The empirical evidence from this paper suggests that the environmental benefits that result from the implementation of the IBT pricing schemes may be overstated if the possible negative environmental impacts of switching to more affordable, but hazardous energy sources by the population as a response to the tariff-shifts are not taken into account by the policymakers. |
| Keywords: | residential electricity pricing; increasing-block-tariffs; CO2 emissions; dirty fuels; transition economy; natural experiment |
| JEL: | Q41 Q48 L98 L94 |
| Date: | 2022–05 |
| URL: | http://d.repec.org/n?u=RePEc:fau:wpaper:wp2022_08&r= |
| By: | Afia Malik (Pakistan Institute of Development Economics) |
| Abstract: | The private sector has long been promoted as a solution to the service delivery gap and to overcome financial constraints faced by the developing countries. The general belief is that state-owned utilities have no incentive to improve (Estrin and Pelletier, 2018). Political pressures and rent-seeking activities do not allow them to operate efficiently. The recruitment of managerial staff is under political pressure rather than merit, thus compromising management efficiency in the distribution utility. Therefore, the expectation is that the private management/ownership with the profit motive will lead to efficiency gains and cost savings, besides improving service delivery (Scott and Seth, 2013). |
| Keywords: | Privatisation, Electricity, Distribution, Companies |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:pid:kbrief:2022:52&r= |
| By: | Kurani, Ken; Sanguinetti, Angela |
| Abstract: | Electrifying ridehailing services provided by transportation network companies (TNCs) can reduce greenhouse gas emissions and air pollution while providing fuel and maintenance cost savings to TNC drivers. Policy levers have emerged to nudge the industry in this direction. California’s Senate Bill 1014 establishes a “clean miles standard” requiring an increasing percentage of ride-hailing services be provided by zero-emissions vehicles, such as plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs)—together referred to as plug-in vehicles (PEVs). In spring 2019, researchers at UC Davis surveyed 732 TNC drivers in the US who already use a PEV, to understand their use and charging of their PEV. This is the second in a series of briefs highlighting the results of the survey. There is limited understanding of how drivers’ charging practices affect the potential benefits of electrifying TNCs. This research identifies segments of TNC-PEV drivers based on their vehicle charging practices (i.e., location, level, and time of day) to inform infrastructure planning. |
| Keywords: | Engineering |
| Date: | 2022–05–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt1pz2w3pp&r= |
| By: | Sanguinetti, Angela; Kurani, Ken |
| Abstract: | Electrifying ridehailing services provided by transportation network companies (TNCs) such as Uber and Lyft can reduce greenhouse gas emissions and air pollution) and provide cost savings on fuel and maintenance to TNC drivers. Policy levers have emerged to nudge the industry in this direction. California’s Senate Bill 1014 establishes a “Clean Miles Standard” requiring that an increasing percentage of ridehailing services be provided by zero-emissions vehicles. However, the path to achieving this goal is unclear. This brief is the last in a series on TNC electrification. It presents a research agenda identified by government and industry stakeholders, articulating what they believe are the most important questions to address to find the path to TNC electrification. This brief also highlights which perceived research needs are shared broadly and which differ across government and industry stakeholders. The aim is to facilitate a shared understanding for better research, policy, and business practices. |
| Keywords: | Engineering |
| Date: | 2022–05–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt8jv770ms&r= |
| By: | Sanguinetti, Angela; Kurani, Ken |
| Abstract: | Electrifying ridehailing services provided by transportation network companies (TNCs) such as Uber and Lyft can reduce greenhouse gas emissions and air pollution and provide cost savings on fuel and maintenance to TNC drivers. Policy levers have emerged to nudge the industry in this direction. California’s Senate Bill 1014 establishes a “clean miles standard” requiring that an increasing percentage of ridehailing services be provided by zero-emissions vehicles such as plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs)—together referred to as plug-in electric vehicles (PEVs). Because TNC drivers operate their personal vehicles, government and industry must accelerate PEV adoption among TNC drivers to achieve this goal. |
| Keywords: | Engineering |
| Date: | 2022–05–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt1x85q7tj&r= |
| By: | Kurani, Ken; Sanguinetti, Angela |
| Abstract: | Electrifying ridehailing services provided by transportation network companies (TNCs) can reduce climate-altering emissions and air pollution and provide cost savings on fuel and maintenance to TNC drivers. Policy levers have emerged to nudge the industry in this direction. California’s Senate Bill 1014 establishes a “clean miles standard” requiring an increasing percentage of ride-hailing services be provided by zero-emissions vehicles such as plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs)—together referred to as plug-in vehicles (PEVs). This can be achieved by increasing the number of TNC drivers using BEVs and PHEVs, and by increasing the electric miles PHEV drivers travel. |
| Keywords: | Engineering |
| Date: | 2022–05–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt6bv833zm&r= |
| By: | Fukushige, Tatsuya; Fitch, Dillon T.; Mohiuddin, Hossain; Andersen, Hayden; Jenn, Alan |
| Abstract: | Micromobility services (e.g., conventional and electric bikeshare programs and electric scootershare programs) hold great potential for reducing vehicle miles traveled and greenhouse gas emissions if these services are used as substitutes for car travel and/or to access public transit. But estimating these environmental effects is challenging, as it requires measuring changes in human behavior—that is, the choice of what transportation mode to use. While many cities collect various micromobility usage metrics to regulate services, these metrics are not sufficient for calculating the sustainability benefits of these services. |
| Keywords: | Engineering |
| Date: | 2022–05–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt72v218gn&r= |
| By: | Afia Malik (Pakistan Institute of Development Economics); Usman Ahmad (Pakistan Institute of Development Economics) |
| Abstract: | Pakistan’s power supply remained unreliable for many years, disrupting business operations and people’s lives. Huge investments are being made in the recent past to increase power generation capacity. As a result, installed generation capacity increased from 22064 MW in FY2010 to 39772 MW in FY2021 (NEPRA State of Industry Report, 2014 & 2019). Pakistan power sector has rolled from an excess demand (for 14 years) to excess supply and has whimsically played around with the energy mix. While the world moved towards renewable energy, we invested heavily in imported coal and RLNG. |
| Keywords: | Thoughts, Integrated, Generation, Capacity |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:pid:kbrief:2022:56&r= |
| By: | OECD |
| Abstract: | Teachers play a crucial role in our response to the global climate crisis. But how can teachers help all learners develop the knowledge, skills, values and attitudes that will enable them to exercise agency and take individual and collective climate action? From July 2021 to December 2021, the OECD, UNESCO and Education International ran the Teaching for Climate Action Initiative. The main highlights of this initiative are presented in this brief. |
| Date: | 2022–06–08 |
| URL: | http://d.repec.org/n?u=RePEc:oec:eduaah:44-en&r= |
| By: | Salaheddine Soummane; Amro Elshurafa; Hatem Al Atawi; Frank Felder (King Abdullah Petroleum Studies and Research Center) |
| Abstract: | Load shifting, that is, moving demand from peak to off-peak hours, is an important type of demand response. It can reduce the overall operating costs of a power system and improve the reliability of the power grid. This study estimates the financial implications of load shifting in the Saudi industrial sector. We use a national Saudi power system dispatch optimization model to simulate three scenarios. With this model, we quantify the impacts of shifting industrial loads from the peak summer to the off-peak winter months, keeping industrial electricity tariffs unchanged. |
| Keywords: | Battery storage, Benefits of electricity trade, Business models, Climate change |
| Date: | 2022–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:prc:dpaper:ks--2022-dp01&r= |
| By: | Höslinger, Emilie; Redl, Sebastian; Bittó, Virág |
| Abstract: | Um den Auswirkungen des Klimawandels und der Erderwärmung entgegenzuwirken, werden unterschiedlichste Maßnahmen ergriffen, die den CO2-Ausstoß weltweit verringern sollen. Durch die strengeren Klimamaßnahmen steigt allerdings das Risiko von "Carbon Leakage". Das bedeutet, dass Produkte, die von einer CO2-Bepreisung betroffen sind, durch Produktionsverlagerung in andere Erdteile und zusätzliche Importe der europäischen CO2-Bepreisung entkommen. Um dieser Gefahr entgegenzuwirken, ist seitens der EU-Kommission die Einführung eines CO2-Grenzausgleichsmechanismus, kurz CBAM (Carbon Border Adjustment Mechanism) geplant. Dieser soll dazu dienen, den CO2-Gehalt von Gütern in bestimmten Sektoren zu bepreisen, wenn diese in die EU importiert werden. Der von der EU-Kommission vorgeschlagene Grenzausgleich bringt allerdings einige Schwachstellen mit sich. So sieht CBAM beispielsweise keine Exportbefreiung für europäische Unternehmen vor, was zur Folge hat, dass keine Standortneutralität hinsichtlich des CO2-Preises gewährleistet werden kann. Da CBAM auch nur einige wenige Sektoren umfasst, kann die Maßnahme auch nicht als vollständiger Grenzausgleich im eigentlichen Sinn betrachtet werden. Eine weitere Herausforderung besteht auch in Hinsicht auf Unternehmen ärmerer Länder, den sogenannten LDCs (Least Developed Countries). Für diese könnte der bürokratische und technische Aufwand, den CBAM durch die Aufzeichnung und Meldung von Emissionen mit sich bringt, schlichtweg zu groß sein. Dies hätte zu Folge, dass wenn ein Unternehmen keine Emissionen ausweist, stattdessen Defaultwerte mit einem möglicherweise hohen Aufschlag herangezogen werden. Letztlich steht die Ausgestaltung von CBAM auch in Abhängigkeit mit der WTO-Konformität. Hier gilt es aus Sicht der EU, Handelskriege besonders in wirtschaftlich unsicheren Zeiten zu vermeiden. An dieser Stelle spielt auch die Art der Nutzung der CBAM-Einnahmen eine tragende Rolle. Die vorliegende Policy Note empfiehlt als Verwendungszweck dieser Einnahmen die gezielte Innovationsförderung innerhalb der Industriesektoren. Zudem sollten die Einnahmen, unter Berücksichtigung auf Zweckgebundenheit im Bereich Klimaschutz, wie geplant in das EU-Budget fließen. Generell spricht sich EcoAustria klar für die Inklusion von Exportbefreiungen in CBAM aus. CBAM könne daher ähnlich einem Climate Club, in Kombination mit anderen Ländern weltweit eingesetzt werden, was der EU zu mehr Verhandlungsmacht innerhalb der WTO verhelfen, und sie besser gegen einen Handelskrieg absichern würde. Um schließlich auch den Herausforderungen der LDCs entgegenzuwirken, schlägt das Institut die Unterstützung dort ansässiger Unternehmen durch geringere Aufschläge vor, sollten diese keine Emissionswerte melden können. |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ecoapn:49&r= |
| By: | Shu, Guo; ZhongXiang, Zhang |
| Abstract: | The green credit policy plays a vital role in promoting enterprise upgrading. Using a thirteen year panel data of listed companies in China (2007 2019), this study uses the difference in differences (DID) method to examine the effects of the Green Credit Guidelines in 2012 (GCG2012) on the firm level total factor productivity (TFP). Our results show that the GCG2012 significantly increases the TFP of companies in green credit restricted industries. This finding remains robust through employing the PSM-DID model, alternating the treatment group, changing the sample period, and controlling the effects of other environmental policies and financial crises. This effect is more pronounced for private enterprises, companies with worse debt paying ability, companies in highly competitive industries and companies in regions with higher financial liberalization. The impact mechanism test indicates that increasing the green innovation and reducing the agency costs (including green agency costs and traditional agency costs) are two possible channels to boost firm level TFP. Further analysis shows that the GCG2012 is effective not only for heavily polluting industries but also for light polluting industries, and that the GCG2012 can improve the economic performance of firms in green credit restricted industries. Overall, this study reveals the micro mechanisms behind the long term impact of the GCG2012 policy on firm level TFP, providing empirical evidence and policy suggestions for improving green credit policies and promoting green development. |
| Keywords: | Environmental Economics and Policy, Production Economics, Productivity Analysis |
| Date: | 2022–05–31 |
| URL: | http://d.repec.org/n?u=RePEc:ags:feemwp:320842&r= |
| By: | Jean-Baptiste Gaudemet; Jules Deschamps; Olivier Vinciguerra |
| Abstract: | The initial Climate-Extended Risk Model (CERM) addresses the estimate of climate-related financial risk embedded within a bank loan portfolio, through a climatic extension of the Basel II IRB model. It uses a Gaussian copula model calibrated with non stationary macro-correlations in order to reflect the future evolution of climate-related financial risks. In this complementary article, we propose a stochastic forward-looking methodology to calibrate climate macro-correlation evolution from scientific climate data, for physical and transition efforts specifically. We assume a global physical and transition risk, likened to persistent greenhouse gas (GHG) concentration in the atmosphere. The economic risk is considered stationary and can therefore be calibrated with a backward-looking methodology. We present 4 key principles to model the GDP and we propose to model the economic, physical and transition effort factors with three interdependent stochastic processes allowing for a calibration with seven well defined parameters. These parameters can be calibrated using public data. This new approach means not only to evaluate climate risks without picking any specific scenario but also allows to fill the gap between current one year approach of regulatory and economic capital models and the necessarily long-term view of climate risks by designing a framework to evaluate the resulting credit loss on each step (typically yearly) of the transition path. This new approach could prove instrumental in the 2022 context of central banks weighing the pros and cons of a climate capital charge. |
| Date: | 2022–05 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2205.02581&r= |
| By: | Raouf Boucekkine (Rennes School of Business); Carmen Camacho (Paris School of Economics & CNRS); Weihua Ruan (Purdue University Northwest); Benteng Zou (DEM, Université du Luxembourg) |
| Abstract: | We use a parsimonious two-stage differential game setting where the duration of the first stage, the coalition stage, depends on the will of a particular player to leave the coalition through an explicit timing variable. By specializing in a standard linear-quadratic environmental model augmented with a minimal constitutional setting for the coalition (payoff share parameter), we are able to analytically extract several nontrivial findings. Three key aspects drive the results: the technological gap as an indicator of heterogeneity across players, the constitution of the coalition and the intensity of the public bad (here, the pollution damage). We provide with a full analytical solution to the two-stage differential game. In particular, we characterize the intermediate parametric cases leading to optimal nite time splitting. A key characteristic of these nite-time-lived coalitions is the requirement of the payoff share accruing to the splitting country to be large enough. Incidentally, our two-stage differential game setting reaches the conclusion that splitting countries are precisely those which use to benefit the most from the coalition. Constraining the payoff share to be low by Constitution may lead to optimal everlasting coalitions only provided initial pollution is high enough, which may cover the emergency cases we are witnessing nowadays. |
| Keywords: | Coalition splitting ; multistage optimal control ; differential game |
| JEL: | C61 C73 D71 |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:luc:wpaper:22-05&r= |
| By: | Claire Borsenberger (Groupe La Poste); Helmuth Cremer (TSE - Toulouse School of Economics - UT1 - Université Toulouse 1 Capitole - Université Fédérale Toulouse Midi-Pyrénées - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Denis Joram (Groupe La Poste); Jean-Marie Lozachmeur (TSE - Toulouse School of Economics - UT1 - Université Toulouse 1 Capitole - Université Fédérale Toulouse Midi-Pyrénées - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, CNRS - Centre National de la Recherche Scientifique); Estelle Malavolti-Grimal (TSE - Toulouse School of Economics - UT1 - Université Toulouse 1 Capitole - Université Fédérale Toulouse Midi-Pyrénées - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, ENAC - Ecole Nationale de l'Aviation Civile) |
| Abstract: | We study how consumers' environmental awareness (CEA) affects the design of environmental policy in the e-commerce sector. We also examine if there is a need for regulation requiring delivery operators to reveal their emissions. We consider a model with two retailers who sell a differentiated product and two parcel delivery operators. Delivery generates CO2 emissions and their total level creates a global (atmosphere) externality. We assume that it is more expensive for the delivery operator to use less polluting technologies. We consider different scenarios reflecting the type of competition and the vertical structure of the industry. We shown that CEA mitigates the inefficiency of the equilibrium by bringing the level of emissions closer to its optimal level. This is true under perfect and imperfect competition. This efficiency enhancing effect of CEA also affects the design of emissions taxes, which leads to an amended Pigouvian rule. Under perfect competition the tax is reduced by exactly the level of CEA expressed in monetary terms. Under imperfect competition the adjustment exceeds this level. |
| Keywords: | E-commerce,Emission taxes,Pigouvian rule,Consumers' environmental awareness,Vertical integration,Parcel delivery operators |
| Date: | 2022–03–18 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03613363&r= |
| By: | Heider, Florian; Inderst, Roman |
| Abstract: | This paper examines optimal enviromental policy when external financing is costly for firms. We introduce emission externalities and industry equilibrium in the Holmström and Tirole (1997) model of corporate finance. While a cap-and-trading system optimally governs both firms` abatement activities (internal emission margin) and industry size (external emission margin) when firms have sufficient internal funds, external financing constraints introduce a wedge between these two objectives. When a sector is financially constrained in the aggregate, the optimal cap is strictly above the Pigouvian benchmark and emission allowances should be allocated below market prices. When a sector is not financially constrained in the aggregate, a cap that is below the Pigiouvian benchmark optimally shifts market share to less polluting firms and, moreover, there should be no "grandfathering" of emission allowances. With financial constraints and heterogeneity across firms or sectors, a uniform policy, such as a single cap-and-trade system, is typically not optimal. |
| Keywords: | pigou tax,financing,climate change |
| JEL: | O16 L16 H23 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:esprep:253669&r= |
| By: | MARQUES SANTOS Anabela (European Commission - JRC); RESCHENHOFER Peter; BACHTRÖGLER-UNGER Julia; CONTE Andrea (European Commission - JRC); MEYER Niels (European Commission - JRC) |
| Abstract: | Industry contributed for about 20% of the greenhouse gas emissions in 2019 in the EU. Cement, chemicals and steel industries are among the most energy-intensive industries. Around €26,522 Million of the European Regional Development Fund (ERDF) was used to support projects related to low-carbon industrial technologies (15% of the total ERDF in the period 2014-2020). 16% of the ERDF low-carbon project is associated with Research & Innovation (R&I) funding (€4,255 Million). 13% of R&D project in low-carbon are transnational and interregional cooperation projects (€549 Million) under the Interreg programme. Higher share of low-carbon projects over total ERDF is observed in central and eastern Europe. ERDF projects in the chemicals industry (€407 Million) registered a substantially higher amount than those in cement (€101 Million) or steel (€89 Million) industries. |
| Keywords: | Low-carbon technologies, R&D, Innovation, ERDF, EU |
| Date: | 2022–04 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc128452&r= |
| By: | Abedullah (Pakistan Institute of Development Economics) |
| Abstract: | The term “smog” was used first time in 1950 and described it as combination of smoke and fog in London. Now it refers to a mixture of smoke (pollutants made up mostly of ground level ozone) and mist. Exhaust cloud is the dirty air contaminated with chemical emitting from different anthropogenic activities and it is characterised as the blend of the gasses with residue and water vapors. Air pollution has emerged as a serious environmental threat in the South Asia. According to WHO (2016), world’s top most 20 polluted cities are located in Asia, among them three are located in Pakistan. Since 2016, dense smog blankets the city of Lahore, the capital of Punjab during months of October to December is becoming a serious problem. |
| Keywords: | Private Cars, Public Transport, Smog, Air Pollution, Pakistan |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:pid:kbrief:2022:53&r= |
| By: | Lars Hornuf; Gül Yüksel |
| Abstract: | In this article, we use a meta-analysis to examine the performance of socially responsible investing (SRI). After a thorough literature search, we review 153 empirical studies containing 1,047 observations of SRI performance. We find that, on average, SRI neither outperforms nor underperforms the market portfolio. However, in line with modern portfolio theory, we find that global SRI portfolios outperform regional sub-portfolios. Moreover, high-quality publications, publications in finance journals, and authors who publish more frequently on SRI are all less likely to report SRI outperformance. In particular, we find that including more factors in a capital market model reduces the likelihood that a study will find SRI outperformance. These findings have important implications for the policy evaluation of environmental, social, and governance goals in general, the asset management literature in particular, and the perspective of different scientific disciplines. |
| Keywords: | environmental social governance, ESG, socially responsible investment, SRI, meta-analysis |
| JEL: | G11 G12 M14 |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_9724&r= |
| By: | Fatoumata Nankoto Cissé (Centre d'Economie de la Sorbonne & I&P) |
| Abstract: | This study analyzes the effect of impact evaluation methodologies on the positive and negative outcomes of decentralized solar nano projects in developing countries. Data originate from the Collaborative Smart Mapping of Mini-grid Actions (CoSMMA) developed by the Foundation for studies and Research on International Development (FERDI). This study is based on a total of 727 tested effects from 10 decentralized solar nano projects which have been measured by experimental and quasi-experimental approaches. Using a multinomial-logit regression shown that randomized and non-randomized evaluation methods have a similar probability of generating a proven favorable outcome on the sustainable development of decentralized solar nano projects. By estimating a complementary log-log model, projects are most often evaluated as successful when effects on education are tested. In addition, a discrepancy of impacts is found between randomized control trials and difference-in-difference strategies in proven-unfavorable outcomes of projects. This analysis also highlights the convergence of impacts between randomization and matching techniques on projects implemented in Africa. Findings from this paper provide strong evidence for development practitioners to choose the appropriate impact assessment method |
| Keywords: | Impact evaluation; Meta-analysis; Experimental methods; Quasi-experimental methods; Randomized control trials; Matching; Difference-in-difference; Decentralized electrification; Sustainable development |
| JEL: | C18 C90 F63 O12 O22 Q01 Q42 |
| Date: | 2022–03 |
| URL: | http://d.repec.org/n?u=RePEc:mse:cesdoc:22008&r= |
| By: | Ulrich Eydam (University of Potsdam); Francesca Diluiso (Mercator Research Institute on Global Commons and Climate Change (MCC)) |
| Abstract: | In light of climate change mitigation efforts, revenues from climate policies are growing, with no consensus yet on how they should be used. Potential efficiency gains from reducing distortionary taxes and the distributional implications of different revenue recycling schemes are currently debated. To account for households heterogeneity and dynamic trade-offs, we study the macroeconomic and welfare performance of different revenue recycling schemes using an Environmental Two-Agent New-Keynesian model, calibrated on the German economy. We find that, in the long run, welfare gains are higher when revenues are used to reduce distortionary taxes on capital, but this comes at the cost of higher inequality: while all households prefer labor income tax reductions to lump-sum transfers, only financially unconstrained households are better off when reducing taxes on capital income. Interestingly, we find that over the transition period relevant to meet short-medium run climate targets, labor income tax cuts are the most efficient and equitable instrument. |
| Keywords: | double dividend, E-DSGE, environmental tax reform, non-Ricardian households, revenue recycling |
| JEL: | E62 H23 H31 Q58 |
| Date: | 2022–05 |
| URL: | http://d.repec.org/n?u=RePEc:pot:cepadp:45&r= |
| By: | Michael Finus (University of Graz, Austria); Francesco Furini (University of Hamburg, Germany) |
| Abstract: | Solar radiation management (SRM), as one form of geoengineering, has been proposed as a last exit strategy to address global warming. Even though SRM is expected to be cheap, it may be risky and associated with high collateral damages. We analyze how SRM affects equilibrium mitigation strategies, the governance architecture of a climate agreement and whether and how signatories to a climate agreement can avoid that non-signatories deploy SRM. We show under which conditions the threat to deploy geoengineering can stabilize a large climate agreement. Results are derived in a cartel formation game and all qualitative conclusions are confirmed in a repeated game framework. |
| Keywords: | mitigation-geoengineering game; solar radiation management; collateral damages; climate agreements. |
| JEL: | D71 D74 H41 Q54 |
| Date: | 2022–05 |
| URL: | http://d.repec.org/n?u=RePEc:grz:wpaper:2022-02&r= |
| By: | Enrico Botta; Matthew Griffiths; Takayoshi Kato |
| Abstract: | The “energy, water and land use nexus” approach has been attracting attention of policy makers, development practitioners and academia in Central Asia as a tool to facilitate regional and cross-sectoral co-operation for climate action and resource security. However, further work is still needed to better understand economic and non-economic benefits of the nexus approach, and integrate it into policy processes in the countries. Based on desk research and consultations with stakeholders in Central Asia, this paper aims to highlight several possible action points for promoting the energy-water-land use nexus approach in the face of a changing climate in the region. |
| Keywords: | energy, land use, water |
| JEL: | Q01 Q15 R11 |
| Date: | 2022–05–27 |
| URL: | http://d.repec.org/n?u=RePEc:oec:envddd:2022/01-en&r= |
| By: | Anna Valero |
| Abstract: | Many countries have plans for a 'green recovery' from the pandemic. Anna Valero reviews 30 years of CEP research into how environmental and industrial policies can be combined to achieve economic growth that is strong, sustainable and inclusive. |
| Keywords: | Green growth, policy, environment, industry |
| Date: | 2021–10–15 |
| URL: | http://d.repec.org/n?u=RePEc:cep:cepcnp:613&r= |
| By: | Lee H. Seltzer; Laura Starks; Qifei Zhu |
| Abstract: | Investor concerns about climate and other environmental regulatory risks suggest that these risks should affect corporate bond risk assessment and pricing. We test this hypothesis and find that firms with poor environmental profiles or high carbon footprints tend to have lower credit ratings and higher yield spreads, particularly when their facilities are located in states with stricter regulatory enforcement. Using the Paris Agreement as a shock to expected climate risk regulations, we provide evidence that climate regulatory risks causally affect bond credit ratings and yield spreads. Accordingly, the composition of institutional ownership also changes after the Agreement. |
| JEL: | G12 G14 G23 G28 |
| Date: | 2022–04 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:29994&r= |
| By: | Delera, Michele |
| Abstract: | Sustainability in global value chains (GVCs) hinges on the interplay between specialisation, scale, and efficiency effects. This paper reviews different strands of literature which provide evidence on these channels. The evidence that I collect suggests that the sustainability impacts of GVCs are ambiguous. By allowing firms to specialise through the offshoring of relatively more polluting production activities, GVCs are associated to sizeable amounts of carbon leakage. Insofar as firms expand following entry in foreign markets, environmental impacts may also increase. Yet at the same time, participation in GVCs makes firms more energy and emission efficient than their domestic peers through a variety of mechanisms. Thus, GVCs also contribute to dampen emission growth. In terms of social sustainability, GVCs are associated with an income premium for workers and producers alike, although these benefits are not equally distributed. |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:sgscdp:1&r= |
| By: | Mohammad Aldubyan; Moncef Krarti (King Abdullah Petroleum Studies and Research Center) |
| Abstract: | The analysis presented in this paper evaluates the impact of the COVID-19 stay-home order (or lockdown) on electricity consumption among Saudi residential building stock. Our analysis is based on an assessment of monitored data obtained for a sample of housing units as well as the results from a residential energy model (REEM). Specifically, we estimate the impact of the stay-home order imposed due to COVID-19 in most Saudi regions between March 15 and June 15, 2020, on residential electricity consumption. |
| Keywords: | Battery storage, Benefits of electricity trade, Business models, Climate change |
| Date: | 2022–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:prc:dpaper:ks--2022-dp02&r= |
| By: | Maria Alejandra Torres León |
| Abstract: | What happens to workers of the fossil fuels industry if an energy transition takes place? Even though an energy transition is one of the main objectives in the flght against climate change, it carries several economic and social costs, especially as it has heterogeneous effects on different groups of individuals. This paper introduces a directed technical change model where innovation is focused on the energy sector that demands both skilled and low-skilled labor. In this context, I show how an environmental catastrophe is inevitable if there is not a policy to carry out an energy transition. Once this policy is implemented, there is directed technical change toward the clean sector and workers in the dirty sector bear an extra cost to adapt their abilities to the skills' demand in the new sector. Consequently, the existing income gap is amplified following i) changes in relative labor supply favoring workers in the clean sector and ii) a reduction in disposable income for human capital investment. Government intervention is needed to compensate households and guarantee that economic and environmental gains from the energy transition outweigh its welfare losses. |
| Keywords: | Energy transitionDirected technical changeGrowthIncome distributionLabor market |
| JEL: | J24 O33 O44 Q43 |
| Date: | 2022–05–11 |
| URL: | http://d.repec.org/n?u=RePEc:col:000089:020104&r= |
| By: | Enlund, Jakob (Department of Economics, School of Business, Economics and Law, Göteborg University); Andersson, David (Department of Space, Earth and Environment, Physical Resource eory, Chalmers University of Technology); Carlsson, Fredrik (Department of Economics, School of Business, Economics and Law, Göteborg University) |
| Abstract: | We provide the first estimates of how pro-environmental consumers reduce their total carbon footprint using a carbon calculator that covers all financial transactions. We use data from users of a carbon calculator that includes weeklye estimates of users’ consumptionbased carbon-equivalent emissions based on detailed financial statements, official registers, and self-reported life-style factors. The calculator is designed to induce behavioral change and gives users detailed information about their footprint, and includes social comparisons, and goal-setting options. By using a robust difference-in-differences analysis with staggered adoption of the calculator, we estimate that users decrease their carbon footprint by around 10 percent in the first few weeks, but over the next few weeks, the reduction fades. Further analysis suggests that the carbon footprint reduction is driven by a combination of a shift from high- to low-emitting consumption categories and a temporary decrease in overall spending, and not by changes in any specific consumption category. |
| Keywords: | Pro-environmental Behavior; Carbon Footprint; Consumer Behavior |
| JEL: | D12 D91 Q50 |
| Date: | 2022–05 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:gunwpe:0822&r= |
| By: | Ritz, R. |
| Abstract: | To mitigate concerns about carbon leakage and industrial competitiveness, cap-and-trade systems have typically relied on the free allocation of carbon allowances to trade-exposed sectors. The European Union’s Green Deal raises the prospect of free allocation being replaced by a carbon border adjustment mechanism (CBAM) on imported products. This paper provides a simple framework to analyze the competitiveness support provided by these policy instruments. It shows how the rate of carbon leakage can be a “sufficient statistic†to determine the output and profit impacts of the switch to a CBAM. High-leakage sectors will prefer the CBAM while low-leakage sectors will prefer free allocation. |
| Keywords: | Cap-and-trade, carbon border adjustment, carbon leakage, industrial competitiveness |
| JEL: | H23 L11 Q54 |
| Date: | 2022–05–27 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:2234&r= |
| By: | Moncef Krarti; Mohammad Aldubyan (King Abdullah Petroleum Studies and Research Center) |
| Abstract: | This study focuses on the impact of improving the energy efficiency of housing units on the design of carbon-neutral grid-connected residential communities in Saudi Arabia. Particularly, it examines the efficacy of both photovoltaic systems and wind turbines as on-site renewable power technologies in achieving carbon neutrality. |
| Keywords: | Battery storage, Benefits of electricity trade, Business models, Climate change |
| Date: | 2021–12–13 |
| URL: | http://d.repec.org/n?u=RePEc:prc:dpaper:ks--2021-dp26&r= |
| By: | Pierre Cariou; Ronald A. Halim; Bradley J. Rickard |
| Abstract: | We consider the effects of a maritime bunker levy on ship-owner profits, trade, and emissions. Standard and augmented gravity models are employed using data from 2016 to estimate the impact of a change in transit time and transit cost on grain and soybean trade flows and on vessel speed. Results for a bunker levy of 50 USD/tonne of fuel, or less, stress that it will not trigger a change in the optimal speed of the vessel which is contrary to most theoretical models that predict an increase in fuel costs will always lead to a reduction in speed and carbon emissions. For markets where the shipowners pass the tax on to final consumers, it is also optimal to keep the same speed (and transit time) as long as the tax is equal to, or less than, 100 USD/tonne. Bunker levies exceeding 100 USD/tonne may be needed to reduce carbon when trade flows are sensitive to trade costs and transport time, as may be the case for many agricultural commodities. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2022–05–10 |
| URL: | http://d.repec.org/n?u=RePEc:ags:cuaepw:320702&r= |
| By: | Ekundayo P. Mesagan (Pan Atlantic University, Lagos, Nigeria.); Titilope C. Adewuyi (University of Lagos, Lagos, Nigeria.); Olugbenga Olaoye (Bells University of Technology, Nigeria) |
| Abstract: | This study employs the Pool Mean Group framework to investigate the impact of corporate finance and industrial performance on pollution in Africa between 1990 and 2020. The study, which focuses on 36 African nations, found that corporate financing insignificantly enhances environmental quality in the short run, while it significantly worsens the environment in the long run. Also, the result shows that industrial performance exerts a negative but insignificant impact on pollution in both the short- and long-run periods. Lastly, the interaction term between corporate finance and industrial performance has a negative and significant impact on pollution in both periods. With this striking result, the study recommends that efforts should be made to promote the growth of environmentally sound production plants in the continent through the removal of credit facilitation bottlenecks. |
| Keywords: | Corporate Finance, Industrial Performance, Pollution, Africa |
| JEL: | G3 L25 O14 Q53 |
| Date: | 2022–01 |
| URL: | http://d.repec.org/n?u=RePEc:exs:wpaper:22/026&r= |
| By: | Ben Amar (uOttawa - Université d'Ottawa [Ontario]); Mathieu Gomes (CleRMa - Clermont Recherche Management - ESC Clermont-Ferrand - École Supérieure de Commerce (ESC) - Clermont-Ferrand - UCA - Université Clermont Auvergne); Khursheed Hania (CleRMa - Clermont Recherche Management - ESC Clermont-Ferrand - École Supérieure de Commerce (ESC) - Clermont-Ferrand - UCA - Université Clermont Auvergne); Sylvain Marsat (CleRMa - Clermont Recherche Management - ESC Clermont-Ferrand - École Supérieure de Commerce (ESC) - Clermont-Ferrand - UCA - Université Clermont Auvergne) |
| Abstract: | Governments and corporations around the world are increasingly pressured to manage climaterelated business risks and reduce their carbon footprint. Consequently, a growing number of corporations have started implementing internal carbon pricing (ICP) programs, assigning a monetary value to their carbon emissions as a mitigation and adaptation mechanism. This paper explores the motives underlying voluntary ICP adoption and examines whether a firm's exposure to climate-related risks is a relevant driver of ICP adoption. Using a worldwide sample of firms reporting to the Carbon Disclosure Project between 2016 and 2018, we find that firm-level climate change exposure is significantly and positively related to the likelihood of ICP adoption. More specifically, the probability of adoption is largely linked to regulatory shocks and opportunity exposure. Moreover, we find that board independence acts as a moderator in the climate change exposure-ICP adoption relation. The findings of this study shed light on the factors contributing to the acceleration in ICP implementation in the context of a coordinated effort between public and private sectors to reduce global emissions. |
| Keywords: | Internal carbon price,climate change exposure,GHG emissions,environmental policy,sustainability,self-regulation |
| Date: | 2022–03–05 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03634877&r= |
| By: | Simplice A. Asongu (Yaounde, Cameroon); Gerald Emmanuel Arhin (University of Manchester, UK); Abdul-Gafaru Abdulai (University of Ghana, Business School, Legon.); Justice Bawole (University of Ghana Business School, Legon) |
| Abstract: | This chapter surveys the literature on the political-economy of oil and gas governance by focusing on the exploration, production and revenue sharing in the hydrocarbon sector. Emphasis is placed on the extent to which oil and gas governance is shaped by geopolitics and interparty-party politics. We argue that the interests and ideas relative to the power of key stakeholders, such as political actors, multinational companies, the citizens and the state are relevant to the understanding of the form and shape of the emergence and performance of the institutions governing the oil and gas sectors of emerging and developing countries. |
| Keywords: | Political economy, oil and gas; development economies; inter-party politics; geopolitics; institutions; interests; ideas; power |
| JEL: | D72 H23 H77 P16 P48 |
| Date: | 2022–01 |
| URL: | http://d.repec.org/n?u=RePEc:agd:wpaper:22/029&r= |
| By: | Yoshiyuki Kurachi (Bank of Japan); Hajime Morishima (Bank of Japan); Hiroshi Kawata (Bank of Japan); Ryo Shibata (Bank of Japan); Kazuma Bunya (Bank of Japan); Jin Moteki (Bank of Japan) |
| Abstract: | As efforts to address climate change advance globally, Japan has also stated that it aims to significantly reduce CO2 emissions by FY2030 with stable economic growth, under the carbon neutrality target for 2050. This paper presents the main challenges facing Japan's economy in the process of transitioning to a decarbonized society. It introduces the facts on energy conservation and decarbonization, the hypothetical scenarios analysis on energy prices, and the efforts of industry. Until the early 1990s, Japan's progress in decarbonization in terms of CO2 emissions per real GDP was amongst the most remarkable in the world. Since then, it has been overtaken by advanced European countries due to a stagnation in energy conservation under low growth domestically and the slow decarbonization of energy sources following the Great East Japan Earthquake. Japan's current situation underlines once again that the orderly transition to a decarbonized society is not an easy task. In Japan, (1) economic growth during the transition period could be significantly affected by the cost of installing renewable energy in the diffusion process and the trend of procurement costs of existing fossil fuels. On the other hand, (2) efforts and new investments toward decarbonization have the potential to improve the productivity and growth rate of the Japanese economy through technological innovation and the increased corporate propensity to spend, capturing new demands in the global market. In order to realize the positive progress of (2), it is also important for Japan's society as a whole to enhance its responsiveness in adapting to structural change, such as through increased capital and labor mobility between different sectors. Since these efforts are likely to take a considerable amount of time, the public sector is expected to provide long term support for proactive moves by firms and others. |
| Keywords: | climate change; decarbonization; transition risk; economic growth |
| JEL: | Q43 Q54 Q55 |
| Date: | 2022–06–09 |
| URL: | http://d.repec.org/n?u=RePEc:boj:bojron:ron220609a&r= |
| By: | Tal, Gil; Davis, Adam; Garas, Dahlia |
| Keywords: | Social and Behavioral Sciences, electric vehicles, zero emission vehicles, Advance Clean Car |
| Date: | 2022–05–31 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt1g05z2x3&r= |
| By: | Pierre-Marie Aubert (IDDRI - Institut du Développement Durable et des Relations Internationales - Institut d'Études Politiques [IEP] - Paris); Baptiste Gardin (IDDRI - Institut du Développement Durable et des Relations Internationales - Institut d'Études Politiques [IEP] - Paris); Élise Huber (IDDRI - Institut du Développement Durable et des Relations Internationales - Institut d'Études Politiques [IEP] - Paris); Michele Schiavo (IDDRI - Institut du Développement Durable et des Relations Internationales - Institut d'Études Politiques [IEP] - Paris); Christophe Alliot (BASIC - Bureau d'Analyse Sociétale pour une Information Citoyenne - Bureau d’Analyse Sociétale pour une Information Citoyenne) |
| Abstract: | This paper proposes an innovative framework to describe sustainable transitions of food systems while considering simultaneously socio-economic and environmental issues, in a just transition perspective. This framework (i) describes the structural changes needed for a sustainable transition in food systems; (ii) assess their effects on employment at the farm and processing industry level; (iii) detect the political levers needed to make this transition a just one—that is, preserving jobs and livelihoods for communities. Using the decarbonation pathway for the agricultural sector issued from the French National Low-Carbon Strategy as reference, we developed two scenarios for the French dairy sector which have the same level of climate ambitious, but a different approach to reach the target. Aiming exclusively to achieve a greenhouse gases reduction, the first scenario relies only on supply side measures. This scenario has a negative impact in terms of employment loss at the farm level and in the agri-food sector. In contrast, a multifunctional scenario considering simultaneously climate, biodiversity, health, and employment issues, and playing with policy measures targeting supply, demand and market organisation can maintain jobs in the farm and agri-food sector, contributes to restore the agro-biodiversity and develops food products compatible with healthy nutritional guidelines. |
| Keywords: | dairy value chain,decarbonization,agri-food sector,modelling framework,farm jobs,agri-food jobs,French national low-carbon strategy |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03653089&r= |