|
on Energy Economics |
| By: | Mr. Adil Mohommad; Jaden Kim |
| Abstract: | This brief paper accompanies the Green Energy and Jobs tool, which is a simple excel-based tool to estimate the job-creation potential of greening the electricity sector. Specifically, it calculates the net job gains or losses from increasing the level of energy efficiency, and from increasing the share of clean and renewable electricity generation in the total electricity output mix. The tool relies on estimates of job multipliers in the literature, and adds evidence from firm-level data on the job-intensity of different energy sources. The paper illustrates applications of the tool using data from the IEA’s Sustainable Development Scenario compared to business-as-usual. This tool is intended to help country teams engage further on climate change issues in bilateral surveillance. |
| Keywords: | Renewable energy; jobs; sustainable development; jobs tool; net job gain; job multiplier; electricity sector; electricity generation; Electricity; Non-renewable resources; Job creation; Global |
| Date: | 2022–05–27 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:2022/101&r= |
| By: | Mr. Patrick Bolton; Mr. Tobias Adrian; Alissa M. Kleinnijenhuis |
| Abstract: | We measure the gains from phasing out coal as the social cost of carbon times the quantity of avoided emissions. By comparing the present value of the benefits from avoided emissions against the present value of costs of ending coal plus the costs of replacing it with renewable energy, our baseline estimate is that the world can realize a net gain of 77.89 trillion USD. This represents around 1.2% of current world GDP every year until 2100. The net benefits from ending coal are so large that renewed efforts, carbon pricing, and other financing policies we discuss, should be pursued. |
| Keywords: | Climate; Carbon; Environment; Climate Policy; Valuation of Environmental Effects; Financial Economics; carbon arbitrage; net benefit; financing policy; baseline estimate; investment cost; coal company; Non-renewable resources; Renewable energy; Climate finance; Arbitrage; Greenhouse gas emissions; Global |
| Date: | 2022–06–01 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:2022/107&r= |
| By: | Francisco Lallana; Gonzalo Bravo; Gaëlle Le Treut (ENPC - École des Ponts ParisTech); Julien Lefevre (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); Gustavo Nadal; Nicolás Di Sbroiavacca |
| Abstract: | To align near term action with a deep decarbonization objective by 2050, a long term low-greenhouse gas emissions development strategy is needed and involves drastic changes to the energy system and the AFOLU sectors. To help move forward the policy debate in this direction, this paper explores deep decarbonization pathways for the country until 2050 which break with existing more conservative national scenarios. It uses a combined qualitative-quantitative deep decarbonization pathway method based on the complementarity between exploratory storylines and the quantification of pathways based on linked energy-economy models. The built pathways show how deep decarbonization could be reached in Argentina along with other economic development goals and through contrasted possible routes all involving significant changes to the energy and AFOLU sectors. Remarkably, afforestation stands out as a key sectorial measure for reaching DDP. We contrast two alternative DDP Scenarios with a BAU one with specific focus on CO2 emissions, with emphasis on energy sector demand and supply alternatives. Many of the energy initiatives proposed for the BAU scenario were maintained but increased in ambition and many others were incorporated only in these deep decarbonization scenarios. While the HardPath proposes and requires natural gas use-with CO2 capture and storage-the Enlighten scenario proposes replacing it by hydro-nuclear energy. Finally, in none of the DDP scenarios is the export of natural gas proposed as an explicit energy policy objective, since little space is considered in external markets for fossil fuels, within the framework of a global action aimed at decarbonization. |
| Keywords: | Argentina,Deep Decarbonization Pathway,Low-carbon Transition,Energy-economy modelling |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03663087&r= |
| By: | Miller, Marshall; Wang, Qian; Fulton, Lewis |
| Abstract: | Carbon emissions targets require large reductions in greenhouse gases (GHGs) in the near-to mid-term, and the transportation sector is a major emitter of GHGs. To understand potential pathways to GHG reductions, this project developed the U.S. Transportation Transitions Model (US TTM) to study various scenarios of zero-emission vehicle (ZEV) market penetration in the U.S. The model includes vehicle fuel economy, vehicle stock and sales, fuel carbon intensities, and costs for vehicles and fuels all projected through 2050. Market penetration scenarios through 2050 are input as percentages of sales for all vehicle types and technologies. Three scenarios were developed for the U.S.: a business as usual (BAU), low carbon (LC), and High ZEV scenario. The LC and High ZEV include rapid penetration of ZEVs into the vehicle market. The introduction of ZEVs requires fueling infrastructure to support the vehicles. Initial deployments of ZEVs are expected to be dominated by battery electric vehicles. To estimate the number and cost of charging stations for battery electric trucks in the mid-term, outputs were used from a California Energy Commission (CEC) study projecting the need for chargers in California. The study used the HEVI-Pro model to estimate electrical energy needs and number of chargers for the truck stock in several California cities. The CEC study outputs were used along with the TTM model outputs from this study to estimate charger needs and costs for six U.S. cities outside California. The LC and High ZEV scenarios reduced carbon emissions by 92% and 94% in the U.S. by 2050, respectively. Due to slow stock turnover, the LC and High ZEV scenarios contain significant numbers of ICE trucks. The biomass-based liquid volume reaches 70 (High ZEV) to 80 (LC) billion GGE by 2045. For the cities in this study, the charger cost ranges from $5 million to $2.6 billion in 2030 and from roughly $1 billion to almost $30 billion in 2040. View the NCST Project Webpage |
| Keywords: | Engineering, Battery electric trucks, U.S. transportation model, electric chargers, greenhouse gases, ZEV market penetration |
| Date: | 2022–06–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt77m0v72x&r= |
| By: | Stephen K. Dimnwobi (NnamdiAzikiwe University Awka, Nigeria); Favour C. Onuoha (Evangel University Akaeze, Abakaliki, Nigeria); Benedict I. Uzoechina (NnamdiAzikiwe University, Awka, Nigeria); Chukwunonso Ekesiobi (Igbariam, Nigeria); Ebele S. Nwokoye (NnamdiAzikiwe University Awka, Nigeria) |
| Abstract: | Purpose - Given the ever-growing fiscal commitments of Nigeria and her chequered history of electricity generation and distribution, the fortunes of the energy sector in the country have been affected by the prevalence of energy poverty. Government policies such as public capital expenditure (PCE) present a crucial option for reducing energy poverty in Nigeria, providing the research impetus for this study. Design/methodology/approach -To investigate the relationship between government capital spending and five distinct energy poverty proxies, this research applies the Bayer-Hanck cointegration system and the Auto-Regressive Distributed Lag (ARDL) bound test. Findings -The findings indicate that public capital spending in Nigeria worsens energy poverty by reducing access to electricity, urban electrification, renewable energy consumption, and renewable electricity generation, with a positive but insignificant influence on rural electrification. Originality/value – This inquiry presents a pioneering investigation of the nexus between PCE and energy poverty in Nigeria. Also, aside from the variables of energy poverty adopted by existing studies, this study incorporates renewable energy consumption and renewable electricity output with implications for energy poverty and sustainable development. |
| Keywords: | Public Capital Expenditure, Energy Poverty, Electricity, Nigeria |
| Date: | 2022–01 |
| URL: | http://d.repec.org/n?u=RePEc:agd:wpaper:22/033&r= |
| By: | Ekundayo Peter Mesagan (Pan Atlantic University, Lagos, Nigeria.); Emeka Osuji (Pan Atlantic University, Lagos, Nigeria); Hope Agbonrofo (Pan Atlantic University, Lagos, Nigeria) |
| Abstract: | We adopt the FMOLS and Granger causality technique to analyse the effect of energy use and carbon emissions on output growth in selected West African economies, which includes Nigeria, Gambia and Ghana, from 1970 to 2019. Findings confirm that energy use enhances growth in the three selected West African economies. But in terms of significance, energy consumption is significant in Nigeria and Gambia at a 1% level of significance while it is insignificant for the Gambia. CO2 emission positively and significantly propels economic growth for the three selected West African economies. For Nigeria, causality evidence shows no direct influence among the variables. For Ghana, we find a bi-causal association between output growth and carbon emissions and a unidirectional causality from pollution to energy consumption. For Gambia, economic growth causes CO2 emissions. We recommend that the West African government reinforce their stand on a sustainable growth path through energy conservation. |
| Keywords: | Energy Use, Pollution, Output Growth, West Africa |
| JEL: | O44 O55 Q40 Q53 |
| Date: | 2022–01 |
| URL: | http://d.repec.org/n?u=RePEc:agd:wpaper:22/032&r= |
| By: | Hugh Saddler (Crawford School of Public Policy, Australian National University) |
| Abstract: | This paper specifies, and populates with data, a set of indicators which are designed to quantify the progress of Australia’s energy system transition. The indicators are national in coverage and include all sources of energy supply and consumption. The major data sources used are all longstanding official Commonwealth statistical series, meaning that the indicators should be able to be updated each year with minimal risk of definitional discontinuities. Indicators are structured into four groups, covering emissions, energy supply, energy consumption, and the changing mix of fuel types and energy using technologies. Emissions indicators run from 2005, because that is the base year for the Paris Agreement, while all energy indicators run from 2009 because of a major data series discontinuity prior to 2009. All indicators end in 2019. Total energy combustion emissions increased gradually from 2005 to 2016, but since then have been almost constant. However, as a share of total national emissions, energy combustion emissions increased markedly up to 2016, because of a decline in other mission sources. Using conventional energy accounting conventions, the renewable share of total primary energy supply increased from 4.2% in 2005 to 6.4% in 2019. However, if the substitution accounting method is applied to renewable electricity, the increase in the renewable share of primary supply is from 6.3% in 2005 to 11.7% in 2019. Total final energy consumption has grown steadily since 2009, and throughout this period the shares of types of final energy supplied to consumers have remained remarkably constant. Gross final energy consumption efficiency by households, measured as the reciprocal of residential energy consumption per capita, was almost constant up to 2011, but increased steadily from then until 2019. Similarly, economy-wide energy use productivity, measured as gross economic value added per unit of energy consumed, also increased steadily from 2011 to 2019. The services provided by energy are commonly sorted into three major groups: generation of electricity, the most versatile energy carrier which is capable of providing a wide range of other services; energy used to deliver transport and other forms of mobility; and energy used to deliver heat. Transition of electricity generation from almost exclusive reliance on coal towards a lower emissions mix of generation technologies is well underway. By contrast, no significant progress has been made in transitioning energy used by transport and other mobile equipment; reliance on petroleum fuel remains almost total and emissions are increasing steadily every year. Similarly, almost no progress has been made in transitioning away from gas and, in some sectors of manufacturing, coal, as the source of heat for manufacturing, commercial sector businesses and households. Total fossil fuel energy consumption in these sectors combined has decreased, but only because of the marked fall in Australian manufacturing activity over the period covered.ure and the role of local endowments. This persistence is evident in current energy-type use being strongly influenced by past use. Our analysis uses data for eight energy types and a large sample of countries, finding varying degrees of energy mix persistence. We also find evidence that carbon pricing appears to have played a key role in tilting energy mixes from coal toward renewable energy. Our estimates provide empirical support to policymakers seeking to implement carbon pricing to transition their energy systems in a lower-carbon direction. |
| Date: | 2021–06 |
| URL: | http://d.repec.org/n?u=RePEc:een:ccepwp:2106&r= |
| By: | Thomas Longden (Crawford School of Public Policy, Australian National University (ANU) and Zero-Carbon Energy for the Asia-Pacific (ZCEAP) Grand Challenge, ANU); Frank Jotzo (Crawford School of Public Policy, Australian National University (ANU)); Andreas Löschel (Center for Applied Economic Research, University of Münster) |
| Abstract: | Green hydrogen holds promise as a zero-carbon energy carrier if production costs fall low enough to achieve cost-competitiveness with alternatives. We specify reducedform marginal effect relationships that capture the underlying dynamics of existing structural models of hydrogen production via electrolysis. These specifications provide the marginal effect of electricity costs, electrolyser capital costs and capacity utilisation factors on the cost of producing hydrogen. And we use them to identify the potential combinations of cost components that meet threshold production costs under which green hydrogen will be cost-competitive. In the near-term, there is particular promise for low cost green hydrogen production where electrolysers are co-located with renewable energy parks to use electricity that would otherwise be curtailed. Or when they operate during periods of low or negative prices in electricity grids. Green hydrogen stand-alone operations could be commercially viable with continued reductions in renewable energy generation and electrolysers. |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:een:ccepwp:2108&r= |
| By: | Mara Hammerle (Crawford School of Public Policy, Australian National University); Paul J. Burke (Crawford School of Public Policy, Australian National University) |
| Abstract: | Does variation in household vulnerability influence the effects of switching to new energy efficient electrical appliances in the home? Using the Australian Capital Territory (ACT) Energy Efficiency Improvement Scheme (EEIS) as a case study, this paper examines impacts on energy consumption and greenhouse gas emissions from replacing natural gas heaters and hot water systems with more energy-efficient electric alternatives. To do so we use quarterly billing data over 2015–2020 for a sample of residential customers of the ACT’s largest energy retailer, ActewAGL. Based on fixed effects panel regressions, we find that the electric replacements led to large decreases in residential natural gas consumption and smaller increases in consumption of electricity from the grid in energy content terms. Reductions in natural gas use from switching to electric hot water heaters were particularly large for the more vulnerable households in the scheme. The emissions effects depend on the emissions factor applied for grid electricity and underline the key role that residential electrification can play in decarbonization efforts if electricity is from low-emission sources. |
| Date: | 2022–01 |
| URL: | http://d.repec.org/n?u=RePEc:een:ccepwp:2201&r= |
| By: | Stavros Stavroyiannis |
| Abstract: | This paper examines the relationship between the price of the Dubai crude oil and the price of the US natural gas using an updated monthly dataset from 1992 to 2018, incorporating the latter events in the energy markets. After employing a variety of unit root and cointegration tests, the long-run relationship is examined via the autoregressive distributed lag (ARDL) cointegration technique, along with the Toda-Yamamoto (1995) causality test. Our results indicate that there is a long-run relationship with a unidirectional causality running from the Dubai crude oil market to the US natural gas market. A variety of post specification tests indicate that the selected ARDL model is well-specified, and the results of the Toda-Yamamoto approach via impulse response functions, forecast error variance decompositions, and historical decompositions with generalized weights, show that the Dubai crude oil price retains a positive relationship and affects the US natural gas price. |
| Date: | 2022–06 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2206.03278&r= |
| By: | Kiani, Behdad; Ogden, Joan |
| Abstract: | The transportation sector is a major source of California’s greenhouse gas emissions, contributing 41% of the state total[1]. California policy is moving rapidly toward Zero Emission battery electric vehicles (BEV) and hydrogen fuel cell vehicles (FCV). Governor Newsom has issued an executive order that all new in-state sales of passenger vehicles should be Zero Emission Vehicles (ZEV) by 2035. Further, the California Air Resources Board has approved rulemaking requiring that more than half of trucks sold in the state must be zero-emissions by 2035, and all of them by 2045 [1a].California has the ambitious goal of achieving a 60% renewable electricity grid by 2030 and 100% carbon free grid by 2045. High penetration of variable renewable energy (VRE) requires seasonal storage to match supply and demand and hydrogen could be a possible candidate for this purpose [1b]. The author has developed the CALZEEV energy-economic model to study possible roles for hydrogen in a VRE intensive future grid with a large Zero Emission Vehicle fleet, comprised of both BEVs and FCVs. In particular, we study whether we can provide sufficient seasonal storage for a 100% zero carbon electricity grid and the potential role of H2 infrastructure in a BEV/FCEV combination for a sustainable path towards a zero-emission energy system. The role of hydrogen infrastructure in seasonal storage for balancing VRE generation while meeting demand for hydrogen vehicles year around has been studied, including economic impacts. |
| Keywords: | Engineering |
| Date: | 2022–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt2gp9q07n&r= |
| By: | Kenneth Egesa; Mr. Gregory M Legoff; Maria Borga; Achille Pegoue; Alberto Sanchez Rodelgo; Dmitrii Entaltsev |
| Abstract: | This paper presents estimates of the carbon emissions of FDI from capital formation funded by FDI and the production of foreign-controlled firms. The carbon intensity of capital formation financed by FDI has trended down, driven by reductions in the carbon intensity of electricity generation. Carbon emissions from the operations of foreign-controlled firms are greater than those from their capital formation. High emission intensities were accompanied by high export intensities in mining, transport, and manufacturing. Home country policies to incentivize firms to meet strict emissions standards in both their domestic and foreign operations could be important to reducing emissions globally. |
| Keywords: | Carbon emissions; foreign direct investment; input-output tables; A. carbon emissions; carbon intensity; emission intensity; FDI flow; carbon emission intensities of MNEs; Greenhouse gas emissions; Gross fixed investment; Exports; Manufacturing; Africa; Global |
| Date: | 2022–05–06 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:2022/086&r= |
| By: | Jorrit Gosens (Crawford School of Public Policy, Australian National University); Alex Turnbull (Keshik Capital, Singapore); Frank Jotzo (Crawford School of Public Policy, Australian National University) |
| Abstract: | China aims for net-zero carbon emissions by 2060, and an emissions peak before 2030. This will reduce its consumption of coal for power generation and steel making. Simultaneously, China aims for improved energy security, primarily with expanded domestic coal production and transport infrastructure. Here, we analyze effects of both these pressures on seaborne coal imports, with a purpose-built model of China's coal production, transport, and consumption system with installation-level geospatial and technical detail. This represents a 1000-fold increase in granularity versus earlier models, allowing representation of aspects that have previously been obscured. We find that reduced Chinese coal consumption affects seaborne imports much more strongly than domestic supply. Recent expansions of rail and port capacity, which reduce costs of getting domestic coal to Southern coastal provinces, will further reduce demand for seaborne thermal coal and amplify the effect of decarbonisation on coal imports. Seaborne coking coal imports are also likely to fall, because of expanded supply of cheap and high quality coking coal from neighbouring Mongolia. |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:een:ccepwp:2109&r= |
| By: | Cristian Alonso; Mr. Joey Kilpatrick |
| Abstract: | While a carbon tax is widely acknowledged as an efficient policy to mitigate climate change, adoption has lagged. Part of the challenge resides in the distributional implications of a carbon tax and a belief that it tends to be regressive. Even when not regressive, poor households could be hurt by a carbon tax, particularly in countries that rely heavily on carbon-intensive energy sources. Using household surveys, we study how a carbon tax may affect households in the Asia Pacific region, the main source of CO2 emissions. We document a wide range of country-specific policies that could be implemented to compensate households, reduce inequality, and build support for adoption. |
| Keywords: | Carbon pricing; Climate change; Compensation; Distributional effects; Inequality |
| Date: | 2022–06–10 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:2022/116&r= |
| By: | Scholz, Wolfgang; Fink, Michael |
| Abstract: | Cities account for approximately 70 per cent of global energy consumption and about 75 percent of greenhouse gas emissions due to the density of economic activities and infrastructure and their often path -dependent development patterns. While this makes cities vulnerable to the impacts of climate change and causes of biodiversity loss and environmental degradation, cities can also play an important role in taking on climate change mitigation and adaptation actions. Cities adopting a green transformation process can minimise their environmental impact and maximise opportunities to improve and support the natural environment. Topics to address are energy efficiency and reduction of non-renewable energy sources to reduce their carbon footprint; actively support waste reduction and management; establish green and resilient infrastructure ; encourage nature-based solutions ; enhance the efficiency of new buildings; encourage low-carbon transport; and improve water cycle management. Also, these fields will lead to a greener urban economy, create more green jobs - or respectively change jobs towards becoming green - and deliver improved quality of life outcomes for residents. The current pandemic situation and the need for a quick COVID -19 recovery has created new challenges, but also the potential for a green and just recovery 'to create jobs and improve health in cities while limiting warming to 1.5°C (C40 Cities Climate Leadership Group, 2021). Also, the OECD (2020) evaluates that 'the economic stimulus packages and recovery plans that governments are now putting in place have the potential to create a recovery that is both green and inclusive.' [...] |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:diedps:72022&r= |
| By: | Pia Andres; Giorgia Cecchinato; Penny Mealy; Charlotte Taylor; Sam Unsworth; Anna Valero |
| Abstract: | The UK's future economic, social and environmental prosperity will be shaped by how it deals with, and recovers from, the impact of Covid-19. This paper sets out coordinated net-zero-aligned investments which the UK can place at the heart of its recovery plan including: energy efficiency in buildings; natural capital projects; active travel equipment and infrastructure; renewable power generation and distribution; electric vehicle production and charging infrastructure; and carbon capture, utilisation and storage (CCUS) and hydrogen production. We summarise evidence from a range of sources including ex-post evaluations and more forward-looking forecast-based studies; looking at short-run and long-run job creation and broader benefits. We also present new analysis on where these economic opportunities might lie. Together, these analyses can inform UK decisions on where to focus investment in the recovery from Covid-19. |
| Keywords: | covid-19, sustainable recovery, investment, net zero greenhouse emissions, jobs, employment |
| Date: | 2020–10–19 |
| URL: | http://d.repec.org/n?u=RePEc:cep:cepcvd:cepcovid-19-010&r= |
| By: | Burke, Joshua; Gambhir, Ajay |
| Abstract: | Almost all modelled emissions scenarios consistent with the Paris Agreement's target of limiting global temperature increase to well below two degrees include the use of greenhouse gas removal (GGR) techniques. Despite the prevalence of GGR in Paris-consistent scenarios, and indeed the UK's own net-zero target, there is a paucity of regulatory support for emerging GGR techniques.. However, the role of carbon pricing is one area that has experienced more attention than others, including discussion about the future inclusion of GGR in carbon markets. Here we identify three risks associated with using carbon markets as the sole, or main, policy lever to encourage the deployment of GGR techniques. Our categorisation of risks stems from discussions with policymakers in the UK and a review of the broader literature on carbon markets and GGR. We present a three-pronged risk assessment framework to highlight the dangers in doing so. First, treating emissions removals and emissions reductions as entirely fungible allows for undesirable substitution. Second, carbon markets may provide insufficient demand pull to drive currently more-costly GGR techniques to deployment at commercial scales. Third, opening up a carbon market for potentially lower-cost GGR (such as nature-based solutions) too early could exert downward pressure on the overall market-based price of carbon, in the absence of adjustments to emissions caps or other safeguards. We discuss how these risks could hamper overall efforts to deploy GGR, and instead suggest a multi-pronged and intertemporal policy and governance framework for GGR. This includes considering separate accounting targets for GGR and conventional emissions abatement, removing perfect fungibility between GGR permits and carbon market permits and promoting a a wide range of innovation and technology-specific mechanisms to drive currently expensive, yet highly scalable technological GGR down the cost curve. Such a framework would ensure that policymakers can utilise carbon markets and other incentives appropriately to drive development and deployment of GGR techniques without compromising near-term mitigation, and that the representation of GGR in modelled low-carbon pathways is cognisant of its real-world scale-up potential in light of these incentives. |
| Keywords: | mitigation; negative emissions; GGR; carbon markets; policy instruments; governance; H2020 European Commission Project “PARIS REINFORCE” under Grant Agreement No. 820846; Elsevier deal |
| JEL: | R14 J01 |
| Date: | 2022–12–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:115010&r= |
| By: | Sugihara, Claire; Hardman, Scott; Chakraborty, Debapriya; Figenbaum, Erik; Beard, George; Boutueil, Virginie; Daina, Nicolò; Dütschke, Elisabeth; Hyun Lee, Jae; Refa, Nazir; Sovacool, Benjamin; Sprei, Frances; Whitehead, Jake; Williams, Brett |
| Abstract: | This paper discusses potential barriers to electric vehicle purchase in fleets and how these could be overcome by policymakers, fleets, and organizations with fleets. Fleets may face unique challenges to electrification and require different support than is provided to private consumers due to their variety of vehicle uses and applications. The paper is divided into discussions on purchase issues and those on operational issues. Purchase issues include ensuring plug-in electric vehicles (PEVs) are available across different vehicle types, creating educational campaigns for both decision-makers and fleet vehicle drivers, and tailoring incentives to the fleet context. Operational issues include factors such as creating post-purchase incentives, implementing low-emission zones and congestion charges, and facilitating utility support for fleet vehicle charging installations. |
| Keywords: | Social and Behavioral Sciences, electric vehicle, incentive, policy, light-duty vehicles |
| Date: | 2022–06–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt8jf994zw&r= |
| By: | Barron-Gafford, Greg |
| Keywords: | Agribusiness, Environmental Economics and Policy |
| Date: | 2022–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:usao22:321140&r= |
| By: | Jakovich, Scott; Reeb, Tyler |
| Abstract: | This white paper provides educational and policy-driven approaches to sustainable transportation workforce development in the transit sector with a focus on knowledge transfer and training strategies for zero-emission bus technologies. The authors draw from a comprehensive survey of national research, interviews with transit leaders, and case studies to identify the most critical technology transfer gaps in the adoption of zero-emission bus technologies. The paper concludes with strategic transit workforce priorities and related recommendations for transit leaders, educational partners, and policy makers. View the NCST Project Webpage |
| Keywords: | Business, Social and Behavioral Sciences, Zero-emission, transit, battery-electric, fuel-cell, workforce development, buses, sustainable transportation |
| Date: | 2022–06–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt3jb4b73d&r= |
| By: | Wang, Guihua; Fulton, Lew; Miller, Marshall |
| Abstract: | California and other states are pursuing strategies to transition to zero-emission passenger vehicles and trucks, and regulations under development in California will shape multiple states’ transition to zero-emission medium- and heavy-duty trucks. A key factor influencing the pace of these regulations and complementary incentive programs is when battery-electric trucks can be expected to reach cost parity with conventional diesel trucks. Studies on likely purchase cost and total cost of ownership of battery-electric trucks have produced different estimates about these trucks’ current and future competitiveness with diesel trucks. Comparing these studies, their assumptions, and their total cost of ownership estimates can ultimately help policymakers understand the financial impacts fleets will experience in transitioning to zero-emission vehicles, and the likelihood of fleets purchasing zero-emission vehicles independent of regulatory requirements. Researchers at the University of California, Davis reviewed 10 recent studies of the total cost of ownership of battery-electric trucks, now and in the future, compared to a baseline diesel truck. The researchers did not judge these studies against each other but attempted to derive general findings that are robust across all the studies. This policy brief summarizes the key findings from that research. View the NCST Project Webpage |
| Keywords: | Engineering, Battery Electric Trucks, Total Costof Ownership (TCO), Medium and Heavy Duty Trucks, Battery Cost, Zero Emission Vehicles |
| Date: | 2022–06–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt5vb9d26f&r= |
| By: | Claire Giordano (Bank of Italy); Enrico Tosti (Bank of Italy) |
| Abstract: | As the global economy faces a new, sharp energy shock amplified by the war in Ukraine, this study analyses developments in Italy’s energy trade balance, both in the long run and from a comparative perspective, in order to appraise any noteworthy changes in the country’s external dependence. Using data from 1970 to 2021, the analysis shows that the country’s energy deficit peaked at almost 6 per cent of GDP in 1981 after the second oil shock at the end of the 1970s. In 2021, it amounted to 2.4 per cent of GDP, double that of the previous year; this value, which is relatively low from a historical perspective, is slightly higher than that of the other main euro-area countries. The geographical concentration of Italy’s energy imports, though declining over the past two decades, remains high, especially for natural gas. The 2021 deterioration in Italy’s cyclically-adjusted current account surplus is more than fully explained by the rise in energy import prices. |
| Keywords: | energy trade balance, energy import prices, current account balance, cyclically-adjusted current account |
| JEL: | F00 F18 O13 |
| Date: | 2022–06 |
| URL: | http://d.repec.org/n?u=RePEc:bdi:opques:qef_696_22&r= |
| By: | Francesco de Cunzo; Alberto Petri; Andrea Zaccaria; Angelica Sbardella |
| Abstract: | We study the empirical relationship between green technologies and industrial production at very fine-grained levels by employing Economic Complexity techniques. Firstly, we use patent data on green technology domains as a proxy for competitive green innovation and data on exported products as a proxy for competitive industrial production. Secondly, with the aim of observing how green technological development trickles down into industrial production, we build a bipartite directed network linking single green technologies at time $t_1$ to single products at time $t_2 \ge t_1$ on the basis of their time-lagged co-occurrences in the technological and industrial specialization profiles of countries. Thirdly we filter the links in the network by employing a maximum entropy null-model. In particular, we find that the industrial sectors most connected to green technologies are related to the processing of raw materials, which we know to be crucial for the development of clean energy innovations. Furthermore, by looking at the evolution of the network over time, we observe that more complex green technological know-how requires more time to be transmitted to industrial production, and is also linked to more complex products. |
| Date: | 2022–06 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2206.07537&r= |
| By: | Malerba, Daniele |
| Abstract: | Germany promotes 'just transition' as a guiding principle for the global transition to a socially and environmentally sustainable economy that incorporates the necessary climate, environmental and energy policy measures. This includes the urgent transformation of economies to become emission neutral while ensuring a process whereby poverty and inequality are reduced, and no one is left behind.The German Development Institute / Deutsches Institut für Entwicklungspolitik (DIE), the World Bank and the German Federal Ministry for Economic Cooperation and Development (BMZ) worked together to explore ways to implement the concept of just transition in German development cooperation. The two papers that have resulted from this process outline approaches to a 'just transition for all' and highlight its potential to reduce poverty and inequality (SDG 1 and SDG 10). [...] |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:diedps:62022&r= |
| By: | Mahboubeh Jafari (Department of Economics, Shiraz University, Shiraz, Iran); David I. Stern (Crawford School of Public Policy, Australian National University); Stephan B. Bruns (Centre for Environmental Sciences, University of Hasselt, Belgium and Department of Economics, University of Göttingen, Germany) |
| Abstract: | The issue of whether energy efficiency improvements will lower energy use or not is contentious. We estimate the economy-wide rebound effect for Iran using a structural vector autoregressive model estimated with quarterly data from 1988:3 to 2018:1. The structural shocks are identified by independent component analysis, a statistical identification technique that does not require us to impose restrictions based on economic theory on the model. The results show that in response to an energy efficiency shock energy use falls initially, but returns to near its original level over time. The economy-wide rebound effect in Iran is 84% after 6 years and its confidence interval includes 100% implying that policies that encourage energy efficiency innovation will have limited longterm impact on energy use. |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:een:ccepwp:2107&r= |
| By: | Takuya Hara |
| Abstract: | Studies have evaluated the economic feasibility of 100% renewable power systems using the optimization approach, but the mechanisms determining the results remain poorly understood. Based on a simple but essential model, this study found that the bottleneck formed by the largest mismatch between demand and power generation profiles determines the optimal capacities of generation and storage and their trade-off relationship. Applying microeconomic theory, particularly the duality of quantity and value, this study comprehensively quantified the relationships among the factor cost of technologies, their optimal capacities, and total system cost. Using actual profile data for multiple years/regions in Japan, this study demonstrated that hybrid systems comprising cost-competitive multiple renewable energy sources and different types of storage are critical for the economic feasibility of any profile. |
| Date: | 2022–05 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2205.15451&r= |
| By: | Xuwen Gao; Ran Song; Christopher Timmins |
| Abstract: | We incorporate pollution exposure into Becker’s “Quantity-Quality” (Q-Q) model of fertility and quantify how air pollution distorts individuals’ fertility behaviors in China. We document a robust pattern in which increased pollution over time negatively affects the fertility of ethnic Han people, who comprise approximately 92% of the Chinese population. These patterns are evident in both cross-sectional and panel data, when instrumenting for pollution using distant coal-fired plants upwind of cities or thermal inversions that trap pollution. Consistent with the stylized Q-Q model of fertility, we find that increased pollution drives up the parental expenditure per child, which increases the shadow price associated with the number of children and reduces fertility. Consistent with the model, we also find that the fertility choices of people who tend to have higher demand for child quality are significantly more sensitive to pollution changes. Pollution does not have a meaningful effect on the fertility of ethnic minorities, which can also be explained under the Q-Q framework. |
| JEL: | J13 J24 Q53 |
| Date: | 2022–06 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:30165&r= |
| By: | Jan J. J. Groen; Adam I. Noble |
| Abstract: | Since the start of the year, oil prices have risen sharply owing to worsening expectations regarding global oil supply. We’ve also had an acceleration of inflation in the United States and the euro area, as well as a sharp steepening of the expected paths of policy rates in both economies. These factors, combined with the potential for a slowdown in growth, have made the inflation outlook quite uncertain. In this post, we combine the demand and supply oil price decomposition from the New York Fed’s Oil Price Dynamics Report with yield curve data to quantify the likely path of inflation in the United States and the euro area over the next twelve months. Based on our analysis, we anticipate that inflation will likely remain elevated through the second quarter of 2023, despite payback for the inflationary impact of current negative oil supply shocks during the second half of 2022 and the disinflationary effects of tighter monetary policy. |
| Keywords: | inflation; oil prices; interest rates; forecasting |
| JEL: | E2 G1 |
| Date: | 2022–06–24 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fednls:94390&r= |
| By: | Mr. Adil Mohommad; Gregor Schwerhoff; Manuel Linsenmeier |
| Abstract: | In this paper, we study the international diffusion of carbon pricing policies. In the first part, we empirically examine to what extent the adoption of carbon pricing in a given country can explain the subsequent adoption of the same policy in other countries. In the second part, we quantify the global benefits of policy diffusion in terms of greenhouse gas emission reductions elsewhere. To do so, we combine a large international dataset on carbon pricing with several other datasets. For causal identification, we estimate semi-parametric Cox proportional hazard models. We find robust and statistically significant evidence for policy diffusion. |
| Date: | 2022–06–03 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:2022/115&r= |
| By: | OECD |
| Abstract: | The use of materials globally has increased over the past century and it will continue to grow with sustained population and economic growth. Such growth also leads to increased environmental pressures, including climate change. While the Slovak Republic has made notable progress in decoupling environmental pressures from economic activity, its economy remains energy-, carbon- and resource-intensive. The urgent need to steer the country towards circularity calls for a national circular economy strategy to help focus efforts where they are needed most. This report identifies and analyses three areas where circular economy policy would be particularly impactful: the use of economic instruments to promote sustainable consumption and production, the construction sector and the food and bio-waste value chain. It also proposes more than 30 concrete policy recommendations supported by an implementation plan and a monitoring framework. Implementing these recommendations can also help the Slovak economy reach its climate change mitigation objectives. |
| Keywords: | bio-waste, circular economy, circular economy policy, circular economy strategy, construction, economic instruments, food waste, resource efficiency, sustainable consumption and production, waste management |
| JEL: | H23 K32 O13 O14 Q53 Q55 Q58 |
| Date: | 2022–07–13 |
| URL: | http://d.repec.org/n?u=RePEc:oec:envaac:30-en&r= |
| By: | Niko Korpar (The Vienna Institute for International Economic Studies, wiiw); Mario Larch; Roman Stöllinger (The Vienna Institute for International Economic Studies, wiiw) |
| Abstract: | As the European carbon border adjustment (CBA) mechanism is high up on the European Commission’s agenda and soon to be implemented, it is important to understand the economic and environmental implications of alternative designs of such a mechanism. To this end and with a view to informing the decision-making process, this study analyses and compares a series of alternative scenarios, which differ along several dimensions of a potential CBA mechanism. Two main scenarios are defined the first one is labelled ‘future ETS price scenario', which assumes a carbon price of EUR 44 and a continuation of the current practice of free allowances; the other is labelled ‘IMF carbon tax scenario’ and assumes a carbon price of EUR 67, which is taken from a recent publication by the IMF, and that free allowances in the industries by the CBA mechanism are abandoned. The scenario analyses rely on the multi-sector quantitative trade model by Larch and Wanner (2017) for trade and on the quantitative FDI model by Anderson et al. (2019). Overall, we find relatively small effects on EU exports, GDP and CO2 emissions. These small quantitative changes at the aggregate, however, mask larger changes at the sectoral level. As expected, the CBA mechanism is more effective when designed in a comprehensive manner, including export rebates in addition to carbon border taxes. The greater economic and environmental effectiveness of such a comprehensive design must be weighed against a heightened legal risk and fiercer opposition by developing countries which perceive the CBA mechanism as ‘green protectionism’ in disguise. |
| Keywords: | Carbon border taxes, carbon tariffs, carbon leakage, climate change |
| JEL: | F13 F14 F17 F18 Q56 |
| Date: | 2022–07 |
| URL: | http://d.repec.org/n?u=RePEc:wii:rpaper:rr:460&r= |
| By: | Christine Brandstätt |
| Abstract: | Self-supply can destabilize the finance of a distribution network. This paper analyses under which circumstances the tariff structure of a distribution network is stable or unstable under pressure of self-supply and provides recommendation how to change the tariff structure to restore stability if it is unstable. This paper analyses the occurrence of self-reinforcing dynamics in relation to volumetric network tariffs and surcharges in networks with a high propensity for self-supply. We model the level of self-supply endogenously depending on profitability and explore network tariffs that avoid an unstable dynamic for investments into self-supply in the system. Analysed tariff modifications concern the energy and load split, the extent of netting, and a variation in cost pass-through to lower network levels. Adding to the recent literature, we explore the option to calibrate tariff parameters predetermined as well as endogenously linked to self-supply levels in the network. We find endogenously determined modifications of load- and energy split and variations in the cost pass-through from upper network levels between parallel grids most promising to prevent a self-reinforcing dynamic. The analysed modifications also open up the possibility to calibrate a new, sustainable level of self-supply and to incorporate uncertainties in the tariff design. |
| Date: | 2021–10 |
| URL: | http://d.repec.org/n?u=RePEc:bei:00bewp:0037&r= |
| By: | Festus F. Adedoyin (Bournemouth University, United Kingdom); Olawumi A. Osundina (Babcock University, Ogun State, Nigeria.); Festus V. Bekun (Istanbul Gelisim University, Istanbul, Turkey); Simplice A. Asongu (Yaoundé, Cameroon) |
| Abstract: | Over the years, agriculture has been considered as a panacea for long-term economic growth as believed by the physiocracy school of thought. Aligning this with the United Nations’ Sustainable Development Goals (specifically UN-SDG-2 which highlights zero hunger), the present study empirically complements existing studies by exploring the interactions between agriculture, trade openness and oil rents using annual time frequency series data from 1981-2017. A series of analysis is conducted. First, a battery of non-stationarity and stationarity unit root tests are performed; these range from the traditional Augmented Dickey-Fuller (ADF) and Phillips Perron (PP) techniques to the relatively recent Zivot Andrews (ZA) unit root test which accounts for a single structural break to ascertain stationarity properties in the variables under review. Subsequently, the recent Bayer and Hanck (2013) test in conjunction with the Johansen co-integration test were used for the co-integration analysis. Furthermore, to detect the direction of causality, the Toda-Yamamoto Granger Causality test alongside the impulse response function technique shows insightful outcomes. From the empirical results, co-integration is apparent and a long-run equilibrium relationship is traced between the outlined variables over the investigated period. The causality results and impulse response analysis highlight the existence of one-way causality links running from agriculture to trade and from trade to oil rents. These are revealing given the dwindling oil market prices. More insights are elucidated in the conclusion section accordingly. |
| Keywords: | Agriculture, sustainability; Bayer-Hanck cointegration; Nigeria |
| JEL: | Q10 O13 C32 C33 |
| Date: | 2022–01 |
| URL: | http://d.repec.org/n?u=RePEc:agd:wpaper:22/031&r= |
| By: | Salim Refas (IZU - Istanbul Sabahattin Zaim University); Ezzedine Ghlamallah (CERGAM - Centre d'Études et de Recherche en Gestion d'Aix-Marseille - AMU - Aix Marseille Université - UTLN - Université de Toulon) |
| Abstract: | Despite considerable progress in the ratification and implementation of the 2030 United Nations Sustainable Development Agenda (SDG Agenda) and Paris Agreement under the United Nations Framework Convention on Climate Change (Paris Agreement) since 2015 the world has not committed enough resources to implement these two strategic agendas for humanity and achieve their crucial targets for the development of current and future generations. As the COVID-19 global pandemics started unfolding at the beginning of 2020, both the Paris Agreement and the 2030 Agenda were not on the track, and this was attributed to a large extent to the significant funding gaps for both agendas, especially for the most vulnerable countries. On the other hand, the recent economic crises (COVID-19 pandemics, 2008 global financial crisis) have profoundly disrupted the global economy and demonstrated the heightened vulnerability of the global financial and economic system to climate, health, financial or socioeconomic risks. Geopolitical events further challenged the foundations of the global financial architecture, in particular, due to unprecedented sanctions against Russia in the United States, the European Union, and allies, and the unexpected response of Russian authorities to these sanctions. In this context, the world is perceived as even more exposed in the short-term future to a major crisis, potentially far more reaching than the 2008 global financial crisis, a crisis that will arguably determine the fate of most vulnerable nations in the next decades. In this dual context of failed achievement of global agendas and heightened risks of major global financial shock, this paper addresses the positioning and potential evolution of the Islamic finance (IF) sector. In particular, the paper posits that despite solid growth in the last four decades, IF institutions have not adopted a clear strategy with regards to rapidly aligning with SDG and climate action agendas, or developing relevant mechanisms and policies to face external shocks of the magnitude expected with the unfolding global financial crisis and IF will therefore face an existential crisis when the major global financial shock occurs. The current global IF institutions are not equipped with the capabilities and resources to adopt packages of reforms radical enough to bring rapidly enough the sector back on track before the crisis hits. In consequence, the IF sector is likely to become marginalized in the short-term due to capital flight and institutional obsolescence and despite positive developments, sustainable or Islamic green finance remain constrained in their current infancy stage. The central idea of this paper is therefore that the best opportunity to develop a global Islamic green finance architecture that substantially contributes to building a better, greener, and more inclusive world lies in building a radically transformed Islamic economic system in the aftermath of the expected major shock forthcoming. Using the framework of shock theory, the paper argues that seven critical conditions (government stability, mass urban relocations, de-commoditization of consumption, state control over unsustainable industries, dematerialization of the economy through technology and state planning, large-scale reconstruction financing program tied to the mobilization of human capacities and natural resources and interventionist policy to salvage and consolidate the banking sector and transition to Islamic Green Finance) would best support this needed transition for the benefit of present and future generations. |
| Keywords: | Institutional obsolescence,Shock theory,Paris Agreement,Post-COVID-19 recovery,Sustainability,Climate Finance |
| Date: | 2022–05–30 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03685231&r= |
| By: | Joseph I. Uduji (University of Nigeria, Nsukka, Nigeria); Elda N. Okolo-Obasi (University of Nigeria, Nsukka, Nigeria) |
| Abstract: | The purpose of this paper is to critically examine the multinational oil companies’ corporate social responsibility (CSR) initiatives in Nigeria. Its special focus is to investigate the impact of the global memorandum of understanding (GMoU) on gender sensitive responses to climate change in oil host communities in Nigeria. This paper adopts a survey research technique, aimed at gathering information from a representative sample of the population, as it is essentially cross-sectional, describing and interpreting the current situation. A total of 1200 rural women were sampled across the Niger Delta region. The results from the use of a combined propensity score matching and logit model indicate a significant relationship between GMoU model and women, gender and climate change in the Niger Delta Nigeria. This implies that CSR of a multinational oil companies is a critical factor in the need for gender sensitive responses to the effect of climate change. It suggests that, for adaptation to climate change effects, understanding gender dimensions and taking gender responsive steps be incorporated into GMoU policies and action plans of multinational enterprises. This research contributes to gender debate in climate change from a CSR perspective in developing countries and rationale for demands for social projects by host communities. It concludes that business has an obligation to help in solving problems of public concern. |
| Keywords: | Climate change, Gender equality, Corporate social responsibility, Multinational oil companies, sub-Saharan Africa |
| Date: | 2022–01 |
| URL: | http://d.repec.org/n?u=RePEc:aak:wpaper:22/008&r= |
| By: | Colner, Jonathan P.; D’Agostino, Mollie |
| Abstract: | Congestion pricing (CP) is widely considered to have significant potential for effectively reducing vehicle miles traveled, reducing emissions, and providing a reliable revenue source for transportation investments. This study evaluated cities interested in CP—five in the U.S. (Boston, Los Angeles, New York, San Francisco, Seattle) and two in other countries (Vancouver, Canada, and Auckland, New Zealand). This study examines the following features of a CP system for each of these cities: 1) duration of CP investigations, 2) equity mitigations, 3) range of alternatives considered, 4) public engagement, and 5) importance of emissions reductions. Timelines are impossible to predict with certainty, but New York and Auckland appear closest to implementation. Vancouver, San Francisco, and Seattle are well into the process; and Boston and Los Angeles are early in the process. Other key findings include that most of the cities start considering a range of options before narrowing down to comparing more detailed CP systems. Vancouver and San Francisco have made public engagement a cornerstone of their plan development, using polls and workshops to finetune the details of their CP proposals. In contrast, Auckland, while still engaging with stakeholders and experts for guidance, has mainly focused on how to ensure public support and understanding of the proposals they recommend. In terms of equity, discounts are a common and primary strategy proposed among the cities, but some also develop a more comprehensive set of equity policies to accompany a CP system. |
| Keywords: | Social and Behavioral Sciences, Congestion pricing, vehicle miles of travel, exhaust emissions, social equity, policy analysis, case studies |
| Date: | 2022–06–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsdav:qt1pd4x9wr&r= |
| By: | Mueller, Isabella; Sfrappini, Eleonora |
| Abstract: | We identify the effect of climate change-related regulatory risks on credit real-location. Our evidence suggests that effects depend borrower's region. Following an increase in salience of regulatory risks, banks reallocate credit to US frms that could be negatively impacted by regulatory interventions. Conversely, in Europe, banks lend more to firms that could benefit from environmental regulation. The effect is moderated by banks' own loan portfolio composition. Banks with a portfolio tilted towards firms that could be negatively a affected by environmental policies increasingly support these firms. Overall, our results indicate that financial implications of regulation associated with climate change appear to be the main drivers of banks' behavior. JEL Classification: G21, Q51, Q58 |
| Keywords: | climate change, climate risk, credit reallocation, Paris Agreement |
| Date: | 2022–06 |
| URL: | http://d.repec.org/n?u=RePEc:ecb:ecbwps:20222670&r= |
| By: | Juergen Attard; Larissa Vella |
| Abstract: | Climate change has come to the forefront of social debate as changes in weather patterns and extreme weather events can severely threaten economic development and wellbeing. In this light, this analysis discusses the role of fiscal policy in climate change mitigation in Malta, by firstly outlining climate-relevant fiscal measures introduced over the last decade, and then assessing their respective impact on the fiscal balance. In this assessment, measures which help mitigate climate change are considered as ‘green’, while measures which are considered as harmful to climate change are deemed as ‘brown’. Between 2009 and 2020, green initiatives, excluding government investment and capital transfers, had a deficit reducing impact. The introduction of a number of brown measures, on the other hand, had a deficit increasing influence during the same period. The analysis also discusses some recent climate-relevant measures announced in Malta’s Recovery and Resilience Plan and in the 2022 Budget. This analysis concludes with a list of recently announced policy initiatives aimed at strengthening the country’s resilience to climate change. This includes initiatives to encourage the use of less polluting behaviour, afforestation programs, the renovation of neglected rural and urban areas into green parks as well as other major climate-relevant projects. |
| JEL: | E62 H23 Q54 |
| URL: | http://d.repec.org/n?u=RePEc:mlt:ppaper:0322&r= |
| By: | Lyons, Kevin |
| Keywords: | Environmental Economics and Policy, Risk and Uncertainty |
| Date: | 2022–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:usao22:321105&r= |
| By: | Lindbergh, Sarah PhD; Reed, Jackson; Takara, Matthew; Aparri, Aidan; Rakas, Jasenka PhD |
| Abstract: | Airports are complex social, technical, and environmental systems. Understanding their complexity is fundamental for advancing transformative climate adaptation policy. For airports to adapt, climate science must be incorporated not only into standards of specific equipment and facilities, but also into the air traffic network and its interconnected infrastructure systems (e.g., road access, ground-based communications, navigation, and surveillance systems). In addition, airport adaptation requires a shift in the way policy is designed, reinforced, and updated, which in turn relies on an understanding of airport governance models and organizational networks. UC Berkeley researchers recently explored how airport planners and policymakers can use climate science to transform standards and update organizational values to promote climate adaptation. After assessing California airports’ exposure to future coastal flooding and reviewing more than 300 policy documents, the UC Berkeley research team developed guidelines on how international, federal, and state policies can better incorporate forward-looking climate science into airport standards and policies. |
| Keywords: | Engineering |
| Date: | 2022–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsrrp:qt47s8s0v4&r= |
| By: | Takayoshi Shinkuma; Akira Hibiki; Eiji Sawada |
| Abstract: | We have considered an environmental pollution that seldom occurs but catastrophically destroys the environment once it occurs. While this kind of pollution might be avoided to some extent through precaution activity, the effort to prevent pollution could not be observed by the government without inspection. In addition, the polluter might not afford to compensate for the damage. The first best has not been achieved in the literature when moral hazard and limited liability are considered at the same time. By generalizing other policies including strict liability and negligence rule, we derive an optimal inspection policy under moral hazard and limited liability. The optimal policy is composed of advance payment and ex-post payment after inspection. In other words, we can consider the optimal policy as a deposit/refund system. The first best will always be achieved under the optimal policy as long as the liability covers the first-best effort if inspection cost is negligible. We also derive the second-best policy by taking account of inspection cost. |
| Date: | 2022–03 |
| URL: | http://d.repec.org/n?u=RePEc:toh:tupdaa:16&r= |
| By: | Eiji Sawada; Takayoshi Shinkuma; Akira Hibiki |
| Abstract: | The interest of this paper is in the area of non-point source pollution, especially that produces a certain large environmental damage in a stochastic manner. Most previous studies on non-point source pollution control policies have implicitly assumed that the abatement efforts of economic agents as a whole can be estimated by assuming environmental damages whose magnitude depends on the abatement efforts of economic agents. When assuming environmental damage that occurs at a certain magnitude in a stochastic manner, the policies proposed by previous studies may achieve efficiency but do not prevent collusion. Therefore, this paper designs new efficiency and collusion-proof policies that work even when not only individual abatement efforts cannot be observed, but furthermore, when the total abatement effort cannot be estimated. Our policy only requires an honest reportig as a whole. By remaining room for adjustment in the reported amount of individual economic agents, our policy is also shown to achieve an equal burden among eocnomic agents. |
| Date: | 2022–03 |
| URL: | http://d.repec.org/n?u=RePEc:toh:tupdaa:17&r= |
| By: | Davide Golinelli (University of Ferrara – Department of Economics and Management (Ferrara, Italy);) |
| Abstract: | Nonparametric regression models are designed to relax the Gauss-Markov assumptions needed to obtain an unbiased and consistent estimator from the traditional parametric regression. The rationale is to let the function be defined by the data locally, without imposing a linear relationship or higher orders polynomials to fit possible non-linearity, at global level. This paper has the aim to investigate the Porter Hypothesis with the use of nonparametric analysis using kernel regression, in particular the local constant estimator developed by Nadaraya and Watson (1955; 1956) and the linear extension proposed by Stone (1977) and Cleveland (1979). The use of kernel to deal with discrete variables is extremely useful to study the effect of the introduction of pollution abatement technologies, used as a proxy assessing for policy stringency, over the value added and hence to test the effect of regulations on firm’s performances: in doing so, starting from the estimator designed by Aitchinson and Aitkens (1976), the extension proposed by Li and Racine (2007) is used. The nonparametric analysis provides a model with a better goodness-of-fit, furthermore the value of the bandwidth referred to the introduction of pollution abatement technology obtained through Kullback-Leibler cross-validation, underlines heterogeneity between groups, and suggesting the positive effect of the introduction of environmental regulation on the performance of firms, leading to the so called Porter hypothesis. |
| Date: | 2022–07 |
| URL: | http://d.repec.org/n?u=RePEc:srt:wpaper:0622&r= |
| By: | Mariantonietta Intonti (Department of Economics and Finance - University “Aldo Moro†of Bari); Laura Serlenga (Department of Economics and Finance - University “Aldo Moro†of Bari); Giovanni Ferri (LUMSA University); Matteo De Leonardis (Department of Economics and Finance - University “Aldo Moro†of Bari) |
| Abstract: | The paper aims to analyze the presence of a premium on Green Bonds (GBs greenium), financial instruments issued with the specific purpose of contributing to the ecological transition, to facilitate the transformation of our economic system into a low carbon economy, resilient to climate change and resource efficient. The study, starting from the indications provided by Zerbib (2019), was carried out in four steps: the first, to determine the actual existence of a differential between the GB yields compared to a sample of traditional bonds; the second step, based on a panel analysis, to demonstrate that the differential is not due to typical market factors, but rather to the nature of GBs; the third step, characterized by a cross-section analysis, that has the objective to verify whether the characterizing components of the GBs, identified in the qualitative variables of currency, issued quantity, rating and type of issuer, are determinants of the "greenium" factor. Lastly, the evolution of the “greenium constant†over time is calculated to draw some final conclusions. The analysis period is from 2017 to 2022 for a total of 248 weekly observations. The analysis shows that greenium does not seem to be present for all categories of issuers. One of the possible reasons may be linked to the different degree of transparency observed by the different issuers. Finally, considering the time frame of the analysis (2017-2021) we can assert that the premium for GBs has undergone an evolution, over time, due to some triggering factors. The first is certainly the growth of interest in green finance. Secondly, the pandemic (as seen also by estimates made over time and by the presence of a structural break) played its role as protagonist, bringing with it an increase in the value of the differential for both government and corporate bonds, precisely in the period due to the first lockdown, characterized by a strong instability of the markets. Estimates have also shown that, for government bonds, the increase in greenium was not driven by liquidity shocks, unlike corporate bonds. This result reflects the importance that investors attach to the disclosure of information that is provided at the time of issue and during the life of the bond. |
| Keywords: | Perceived Inequality; Green Bonds; Greenium; Yields; Sustainable Transition |
| JEL: | G15 H23 Q56 |
| Date: | 2022–07 |
| URL: | http://d.repec.org/n?u=RePEc:lsa:wpaper:wpc40&r= |
| By: | Jacques Fontanel (CESICE - Centre d'études sur la sécurité internationale et les coopérations européennes - UPMF - Université Pierre Mendès France - Grenoble 2 - IEPG - Sciences Po Grenoble - Institut d'études politiques de Grenoble) |
| Abstract: | Threatened by the enlargement of NATO and by the accession of former friendly countries to the European Union, Russia has engaged in a "special operation" against Ukraine, with a view to keeping this country in its zone of influence. For Vladimir Putin, Ukraine is part of the greater Russia, the two entities have a common destiny under the responsibility of Moscow. The military action, which did not deserve the name of war, had to be conducted quickly to remedy this accident of history and the domination of the United States and its satellite the European Union. The military fighting has shown the resistance of the Ukrainian people, but also the will of Russia to fulfill its objectives at any cost despite the expansion of economic, social and military sanctions decided against it, mainly by the Western powers. The conflict affects the interests of all the countries of the world, with sanctions on the Russian monetary and financial system, on the available international infrastructures, on the interrupted exercise for Russia of the "Most Favored Nation clause", on the Russian sales of gas and oil to European countries, on the exports of cereals which will be reduced both by the acts of war which limit the production and the maritime blockade in front of Odessa which prevents their routing. In the longer term, economic globalization and the monetary and financial system dominated by the United States could be seriously challenged. |
| Abstract: | Menacée par l'élargissemnt de l'OTAN et par les adhésions d'anciens pays amis à l'Union européenne, la Russie s'est engagée dans une « opération spéciale » contre l'Ukraine, en vue de conserver ce pays dans sa zone d'influence. Pour Vladimir Poutine, l'Ukraine fait partie de la grande Russie, les deux entités ont un destin commun sous la responsabilité de Moscou. L'action militaire, qui ne méritait pas le nom de guerre, devait être rapidement conduite pour remédier à cet accident de l'histoire et à la domination des Etats-Unis et de son satellite l'Union européenne. Les combats militaires ont mis en évidence la résistance du peuple ukrainien, mais aussi la volonté de la Russie de remplir coûte que coüte ses objectifs malgré l'élargissement des sanctions économiques, sociales et militaires décidées à son encontre, principalement par les puissances occidentales. Le conflit touche les intérêts de l'ensemble des pays du monde, avec les sanctions exercées sur le système monétaire et financier russe, sur les infrastructures internationales disponibles, sur l'exercice interrompue pour la Russie de la « clause de la Nation la plus favorisée », sur les ventes russes de gaz et de pétrole à destination des pays européens, sur les exportations de céréales qui seront réduites à la fois par les actes de guerre qui limitent la production et le blocus maritime devant Odessa qui empêche leur acheminement. A plus long terme, la globalisation économique et le système monétaire et financier dominé par les Etats-Unis pourraient être remis sérieusement en cause. |
| Keywords: | Russia,Ukraine,War,economic war,economic sanctions,international monetary and financial system,famine,NATO,Russie,Guerre,guerre économique,sanctions économiques,système international monétaire et financier,OTAN |
| Date: | 2022–06–13 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03693893&r= |
| By: | Kim Oosterlinck; Ariane Reyns; Ariane Szafarz |
| Abstract: | How do major disruptive events, such as wars, affect the correlations between gold, Bitcoin, and financial assets? We address this question by estimating a dynamic conditional correlation (DCC) model before and during the 2022 Russian invasion of Ukraine. The results show that, after the outbreak of the war, the correlation between gold and stock markets dropped, confirming the diversification potential of gold during crises. The correlation between Bitcoin and oil declined as well. Meanwhile, the gold/Bitcoin correlation slightly decreased. Overall, our preliminary evidence suggests that gold and Bitcoin act as complements—rather than substitutes—for diversification purposes during international crises. |
| Keywords: | Bitcoin; Gold; Portfolio diversification; 2022 Russian invasion |
| JEL: | G11 G15 F65 E44 |
| Date: | 2022–06–29 |
| URL: | http://d.repec.org/n?u=RePEc:sol:wpaper:2013/345041&r= |
| By: | Jacques Fontanel (CESICE - Centre d'études sur la sécurité internationale et les coopérations européennes - UPMF - Université Pierre Mendès France - Grenoble 2 - IEPG - Sciences Po Grenoble - Institut d'études politiques de Grenoble) |
| Abstract: | Le réchauffement de la Terre constitue un danger pour la vie humaine, mais les Etats ne peuvent combattre ce fléau sans l'appui des autres Etats. La catastrophe écologique va modifier les conditions de vie humaine, et limiter les consommations fossiles et les comportements consuméristes. Malgré ces dangers, les hommes politiques et le lobbying restent fondamentalement concentrés sur leurs pouvoirs et leur profits immédiats. Des solutions techniques existent, mais le capitalisme promeut un intérêt individuel aujourd'hui dangereux. Aucune autorité internationale n'a l'autorité pour convaincre les Etats d'éviter la catastrophe à venir. Dans ce cadre, il faut raisonner comme si les hommes vivaient déjà cette crise du réchauffement climatique et se posaient la question « qu'aurait-il fallu faire alors pour éviter cette catastrophe ». Le « catastrophisme éclairé » peut inciter les Etats à mieux valoriser l'intérêt collectif et à empêcher les nuisances de certaines formes spéculatives d'intérêt personnel. |
| Keywords: | New Green deal Vert,locked assets,capitalism,global warming,digital industry,economic crisis |
| Date: | 2022–05–11 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03664892&r= |
| By: | Andreas Kick; Horst Rottmann |
| Abstract: | The popularity of sustainable investments is unbroken and attracts investors and researchers alike. Modelling the properties of such ‘green’ firms, Pástor, Stambaugh, and Taylor 2021 consider a hedge against climate risks in their theoretical model. Likewise, it could be assumed that companies with high social scores might offer a protection against related events. On February 24, 2022 with the Russian invasion on Ukraine one of the biggest events imaginable came to pass. Using standard event study methodology we analyse if and how Refinitiv’s ESG-ratings, as well as the CO2 intensity, influence the cumulative abnormal returns during different event windows. We find that the abnormal returns of companies with high ecological scores are positively influenced in the pre and post-event window. However the effects are of no economical relevance. Therefore our results do not fully support the hypothesis of an ‘ESG-hedge’ against such an extreme event. If such an effect exists, it was superimposed by other properties accounting for stability and defensiveness. |
| Keywords: | abnormal returns, war, Ukraine, ESG |
| JEL: | G11 G14 M14 |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_9798&r= |
| By: | Georg Zachmann |
| Abstract: | An earlier version of this paper was co-written with Julia Anderson, providing excellent input on the legal basics and a deep dive into green efficiency that has been used in this paper. Based on this, and many comments (special thanks to Marie Le Mouel), the paper developed into a very broad take on the role of competition in decarbonisation. Research assistance from Ben McWilliams and Giovanni Sgaravatti is gratefully acknowledged.... |
| Date: | 2022–06 |
| URL: | http://d.repec.org/n?u=RePEc:bre:wpaper:49251&r= |
| By: | Louis-Gaëtan Giraudet (ENPC - École des Ponts ParisTech); Bénédicte Apouey (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - 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); Hazem Arab (UP1 - Université Paris 1 Panthéon-Sorbonne); Simon Baeckelandt (Université de Lille); Philippe Begout (GIS DEMOCRATIE ET PARTICIPATION - Partenaires IRSTEA - IRSTEA - Institut national de recherche en sciences et technologies pour l'environnement et l'agriculture); Nicolas Berghmans (IDDRI - Institut du Développement Durable et des Relations Internationales - Institut d'Études Politiques [IEP] - Paris); Nathalie Blanc (CNRS - Centre National de la Recherche Scientifique); Jean-yves Boulin (Université Paris Dauphine-PSL - PSL - Université Paris sciences et lettres, IRISSO - Institut de Recherche Interdisciplinaire en Sciences Sociales - Université Paris Dauphine-PSL - PSL - Université Paris sciences et lettres - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Eric Buge (Assemblée Nationale); Dimitri Courant (UNIL - Université de Lausanne); Amy Dahan (CNRS - Centre National de la Recherche Scientifique); Adrien Fabre (ETH Zürich - Eidgenössische Technische Hochschule - Swiss Federal Institute of Technology [Zürich]); Jean-Michel Fourniau (Université Gustave Eiffel); Maxime Gaborit (Université Saint-Louis - Bruxelles); Laurence Granchamp (CNRS - Centre National de la Recherche Scientifique); Hélène Guillemot (CNRS - Centre National de la Recherche Scientifique); Laurent Jeanpierre (UP1 - Université Paris 1 Panthéon-Sorbonne); Hélène Landemore (Yale University [New Haven]); Jean-François Laslier (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - 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); Antonin Macé (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - 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); Claire Mellier; Sylvain Mounier (GIS DEMOCRATIE ET PARTICIPATION - Partenaires IRSTEA - IRSTEA - Institut national de recherche en sciences et technologies pour l'environnement et l'agriculture); Théophile Pénigaud (ENS Lyon - École normale supérieure - Lyon); Ana Povoas (ULB - Université libre de Bruxelles); Christiane Rafidinarivo (UR - Université de La Réunion); Bernard Reber (CNRS - Centre National de la Recherche Scientifique); Romane Rozencwajg (UP8 - Université Paris 8 Vincennes-Saint-Denis); Philippe Stamenkovic (Université Ben Gourion du Néguev); Selma Tilikete (UP8 - Université Paris 8 Vincennes-Saint-Denis); Solène Tournus (CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Launched in 2019, the French Citizens' Convention for Climate (CCC) tasked 150 randomly-chosen citizens with proposing fair and effective measures to fight climate change. This was to be fulfilled through an "innovative co-construction procedure," involving some unspecified external input alongside that from the citizens. Did inputs from the steering bodies undermine the citizens' accountability for the output? Did co-construction help the output resonate with the general public, as is expected from a citizens' assembly? To answer these questions, we build on our unique experience in observing the CCC proceedings and documenting them with qualitative and quantitative data. We find that the steering bodies' input, albeit significant, did not impair the citizens' agency, creativity and freedom of choice. While succeeding in creating consensus among the citizens who were involved, this co-constructive approach however failed to generate significant support among the broader public. These results call for a strengthening of the commitment structure that determines how follow-up on the proposals from a citizens' assembly should be conducted. |
| Keywords: | Citizens’ assemblies,climate assemblies,deliberative democracy,co-construction,carbon tax,referendum |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:hal:pseptp:hal-03119539&r= |
| By: | Schmiedel, Lisa (Institute for Employment Research (IAB), Nuremberg, Germany); Kropp, Per (Institute for Employment Research (IAB), Nuremberg, Germany); Fritzsche, Birgit (Institute for Employment Research (IAB), Nuremberg, Germany); Theuer, Stefan (Institute for Employment Research (IAB), Nuremberg, Germany) |
| Abstract: | "Vor dem Hintergrund der bis zum Jahr 2045 angestrebten Treibhausgasneutralität in Deutschland untersucht die vorliegende Studie die Bedeutung der energieintensiven Industrien für die Beschäftigung im Mitteldeutschen Revier und in den mitteldeutschen Bundesländern (Sachsen, Sachsen-Anhalt und Thüringen). Hierfür werden die Entwicklung sowie die Beschäftigungsstrukturen der energieintensiven Industrien, ausgewählter relevanter Branchen und deren energieintensiven Bereiche aus unterschiedlichen Blickwinkeln analysiert. Dabei zeigt sich nur partiell eine erhöhte Konzentration energieintensiver Industrien im Braunkohlerevier. Zudem sind die energieintensiven Industrien insgesamt nicht die Treiber der Beschäftigungsentwicklung in der Region. Wir betrachten die Konzentration von energieintensiven Industrien in einzelnen Regionen, Wirtschaftszweigen oder Beschäftigtengruppen nicht als einen Indikator für die Gefährdung von Arbeitsplätzen in der Region, sondern als Hinweis auf die Notwendigkeit intrasektoraler Strukturanpassungen. Dies bedeutet im Zusammenhang mit der Energiewende und vor dem Hintergrund massiv gestiegener Energiekosten sowie der weiteren Risiken einer Energieverknappung durch den Krieg Russlands gegen die Ukraine die Entwicklung von energiesparenden Technologien und von Verfahren, die auf nicht-fossile Rohstoffe für die energetische und stoffliche Nutzung zurückgreifen." (Autorenreferat, IAB-Doku) |
| Keywords: | IAB-Open-Access-Publikation |
| Date: | 2022–06–09 |
| URL: | http://d.repec.org/n?u=RePEc:iab:iabrst:202201&r= |
| By: | Shagina, Maria; Westphal, Kirsten |
| Abstract: | Washington und Berlin haben ihre Differenzen über Nord Stream 2 beigelegt. Damit ist zunächst einmal die Negativspirale eines Energie-Sicherheitsdilemmas angehalten, in die das Projekt geraten war. Während die Biden-Administration ein klares Signal setzt, dass ihr konstruktive Beziehungen zu Deutschland wichtig sind, ist die Bundesregierung nun gefragt, die vereinbarten Punkte umzusetzen. Die Gaspipeline durch die Ostsee bleibt jedenfalls ein Politikum. Kiew und Warschau haben bereits deutlich gemacht, dass sie die deutsch-amerikanische Übereinkunft ablehnen. Ein 'Grand Bargain' über Nord Stream 2, der nicht nur bilateral abgestimmt ist, sondern auch die Ukraine einbindet und Russland verpflichtet, ist noch nicht erreicht. |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:swpakt:522021&r= |
| By: | Emmanuel Okamba (Université Gustave Eiffel) |
| Abstract: | Dans le cadre des stratégies de développement durable des organisations, l'évaluation de la dimension éthique du développement économique, conduit à mesurer leur responsabilité environnementale à partir des « empreintes » ou des coûts liés à la pression qu'elles exercent sur l'environnement pour satisfaire l'offre et la demande des ressources rares renouvelables. Le risque écologique soutenable représente le montant de cette pression nécessaire pour créer de la valeur dans le cadre de la sobriété environnementale. Deux profils de développement s'en dégagent. Le pays à forte responsabilité écologique ayant des avoirs de réserves de ressources renouvelables produisant une faible valeur et le pays à faible responsabilité écologique vivant à crédit de ressources renouvelables produisant une forte valeur grâce aux importations des ressources. La constitution des stocks de ressources renouvelables par la photosynthèse artificielle améliore la sobriété environnementale et permet de réaliser une valeur durable. Mots de passe Sobriété environnementale, risque écologique soutenable, empreinte carbone, empreinte écologique, biocapacité. |
| Date: | 2022–05–25 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03678441&r= |
| By: | Mr. Serhan Cevik; João Tovar Jalles |
| Abstract: | Climate change is the defining challenge of our time with complex and evolving dynamics. The effects of climate change on economic output and financial stability have received considerable attention, but there has been much less focus on the relationship between climate change and income inequality. In this paper, we provide new evidence on the association between climate change and income inequality, using a large panel of 158 countries during the period 1955–2019. We find that an increase in climate change vulnerability is positively associated with rising income inequality. More interestingly, splitting the sample into country groups reveals a considerable contrast in the impact of climate change on income inequality. While climate change vulnerability has no statistically significant effect on income distribution in advanced economies, the coefficient on climate change vulnerability is seven times greater and statistically highly significant in the case of developing countries due largely to weaker capacity for climate change adaptation and mitigation. |
| Keywords: | climate change vulnerability; climate change adaptation; income redistribution; income equality; income growth; Income inequality; Climate change; Income distribution; Global |
| Date: | 2022–05–27 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:2022/103&r= |