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on Energy Economics |
| By: | Campiglio, Emanuele; De Angelis, Luca; Neri, Paolo; Scalisi, Ginevra |
| Abstract: | It is still unclear to what extent transition risks are being internalized by financial investors. In this paper, we provide a novel investigation of the impact of media‐based measures of transition risks on the credit risk of energy companies, as measured by their credit default swaps (CDS) indices. We include both European and North American markets in the 2010–2020 period. Using linear and non‐linear local projections, we find that a transition risk shock affects CDS indices only when combined with tangible physical climate‐related impacts. We also find evidence of non‐linear cross‐border effects, with North American energy companies particularly affected by European dynamics. We suggest that the public reaction in the wake of severe climate‐related disasters, which might push policymakers to adopt more decisive climate action, contributes to making the transition‐related debate salient in the eyes of credit market actors. |
| Keywords: | climate change; credit risk; transition risk; disasters; credit default swaps |
| JEL: | C32 G12 Q43 Q54 |
| Date: | 2025–04–01 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:127807 |
| By: | Rutu Dave; Barbara Ungari; Marco Indelicato |
| Keywords: | Gender-Gender and Development |
| Date: | 2023–03 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:39492 |
| By: | Buchner, Martin; Rehm, Miriam |
| Abstract: | This paper aims to understand the health effects of energy poverty in Germany using SOEP panel data from 2010 to 2020. Linear probability models and fixed effects ordered logit models reveal a consistently negative relationship of three expenditures based energy poverty indicators with general health. The association is stronger for the subjective energy poverty metric: members of households unable to keep the home comfortably warm due to financial reasons have an about 3.23 p.p. lower probability of being in at least satisfactory health. Investigating potential channels shows that mental health is consistently negatively linked to our energy poverty metrics, while physical health is weakly associated with energy poverty in Germany, with the exception of doctor visits. Finally, by instrumenting energy poverty with data on energy price indices and matching energy costs to the heating systems used by households, we show that living in a household that experiences a transition to energy poverty due to rising energy prices is also linked to a lower likelihood of being in good health. |
| Abstract: | Dieses Papier untersucht die gesundheitlichen Auswirkungen von Energiearmut in Deutschland auf Basis von Paneldaten des Sozio-oekonomischen Panels (SOEP) für den Zeitraum 2010 bis 2020. Unter Anwendung von Linear-Probability-Modellen sowie Fixed-Effects-Ordered-Logit-Modellen zeigt sich ein robuster negativer Zusammenhang zwischen drei objektiven Indikatoren für Energiearmut und dem allgemeinen Gesundheitszustand. Besonders stark ausgeprägt ist dieser Zusammenhang bei einem subjektiven Indikator: Personen aus Haushalten, die ihre Wohnung aus finanziellen Gründen nicht angemessen warmhalten können, haben eine um 3, 23 Prozentpunkte geringere Wahrscheinlichkeit, sich in (mindestens) zufriedenstellendem Gesundheitszustand zu befinden. Eine weiterführende Analyse möglicher Wirkungsmechanismen deutet darauf hin, dass insbesondere die psychische Gesundheit negativ mit Energiearmut assoziiert ist, während sich für die körperliche Gesundheit nur schwache negative Zusammenhänge zeigen. |
| Keywords: | Energy poverty, health, fixed effects ordered logit models, Germany |
| JEL: | I10 I32 Q41 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:rwirep:315487 |
| By: | Koundouri, Phoebe; Alamanos, Angelos; Arampatzidis, Ioannis; Devves, Stathis; Sachs, Jeffrey D. |
| Abstract: | Achieving climate-neutrality is a global imperative that demands coordinated efforts from both science and robust policies supporting a smooth transition across multiple sectors. However, the interdisciplinary and complex science-to-policy nature of this effort makes it particularly challenging for several countries. Greece has set ambitious goals across different policies; however, their progress is often debated. For the first time, we simulated a scenario representing Greece’s climate-neutrality goals drawing upon its main relevant energy, agricultural and water policies, and compared it with a ‘current accounts’ scenario by 2050. The results indicate that most individual policies have the potential to significantly reduce carbon emissions across all sectors of the economy (residential, industrial, transportation, services, agriculture, and energy production). However, their implementation seems to be based on economic and governance assumptions that often overlook sectoral interdependencies, infrastructure constraints, and social aspects, hindering progress towards a unified and more holistic sustainable transition. |
| Keywords: | Climate Neutrality; Energy-emissions modelling; LEAP; FABLE Calculator; MaritimeGCH; WaterReqGCH; Decarbonization; Greece. |
| JEL: | Q28 Q54 Q58 |
| Date: | 2025–03 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:124146 |
| By: | Jakub Sokołowski; Karol Madoń; Jan Frankowski |
| Abstract: | The success of energy transition in addressing climate change depends on several factors, including the affordability of new technologies and the influence of peers within communities. However, concerns about affordability raise questions about how economic inequalities shape peer effects and whether they create barriers to equitable adoption. To this end, we explore how inequalities influence peer effects in the uptake of renewable heating sources. We leverage over 260, 000 observations from unique and unpublished microdata from the Polish Clean Air Priority Programme – one of the largest retrofit schemes in Europe. Our results show that peer effects accelerate technology uptake, with each additional installation increasing the likelihood of subsequent adoption by 0.014 pp. Peer influence is affected by economic inequality. In more economically homogeneous regions, affluent individuals considerably impact their peers. In areas with higher economic disparities, this influence diminishes. Our findings highlight the role of heating technology type and adopter wealth in shaping peer effect magnitude. Less wealthy adopters of biomass stoves emerge as a significant driver of peer influence, especially in regions with lower income inequality. We advise direct transfers to address technology adoption inequalities, leveraging social capital in low-inequality regions and adopting individualised strategies in high-inequality areas. |
| Keywords: | inequalities, peer effects, energy transition, residential sector, renewable energy |
| JEL: | Q52 Q55 O33 |
| Date: | 2025–03 |
| URL: | https://d.repec.org/n?u=RePEc:ibt:wpaper:wp032025 |
| By: | Hu, Bingtao; Ioannou, Petros |
| Abstract: | The transportation sector contributes significantly to emissions, with heavy-duty (HD) vehicles responsible for a disproportionately large share. Zero-emission trucks, particularly battery electric trucks (BETs), have emerged as potential solutions to reduce these emissions. BETs offer benefits such as high energy efficiency with low operating noise while facing the challenges such as range anxiety and inadequate infrastructure. This report presents a survey of the latest advancements in battery technologies and primarily focusing on Class 7 and Class 8 heavy-duty vehicles due to their critical role in freight transport. This report further provides information of the status and future expectations of BETs. Finally, a feasibility analysis is presented to assess the battery requirement and operating cost for a 410-mile route from Long Beach, CA to San Francisco, CA. The results highlight the importance of charging scheduling and strategic planning for infrastructure to lower the operating cost and accelerate the widespread adoption of zero-emission trucks. These findings aim to offer insights for policymakers and researchers working toward sustainable freight transport. View the NCST Project Webpage |
| Keywords: | Engineering, Battery electric truck, state of charge, operating cost |
| Date: | 2025–04–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt5rw5h907 |
| By: | Piero Basaglia; Clara Berestycki; Stefano Carattini; Antoine Dechezleprêtre; Tobias Kruse |
| Abstract: | Despite decades of global attention, effective climate policy implementation remains challenging, with firms and investors often grappling with uncertainty about potential policymaking in addition to actual policy changes. This paper introduces a novel Climate Policy Uncertainty (CPU) index, along with a set of sub-indices capturing the direction of uncertainty, and assesses the impacts of CPU on firm and investor behavior in the United States. Leveraging variation in our indices over the past three decades, we find that uncertainty surrounding climate policies negatively impacts firm financial outcomes, innovation, and stock-market outcomes for firms that are in CO2-intensive sectors, i.e. exposed to climate policy. Higher CPU reduces capital expenditures, employment, and research and development, which in turn translates to a decrease in innovation (patent filings), particularly for clean technologies. On the stock market, CPU leads to increased stock volatility and decreased returns for exposed firms. This negative effect of CPU is distinct from the impact of changes and salience in climate policy as well as variations in economic policy uncertainty. These findings underscore the economic costs of climate policy uncertainty, which delays the low-carbon transition by deterring investment and innovation. |
| Keywords: | uncertainty, climate policy, innovation, firm decision-making, investor beliefs. |
| JEL: | D22 D83 G10 O32 Q58 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11782 |
| By: | Marzouk, Osama A. |
| Abstract: | This study provides a summary about various motor vehicle models tested at the National Vehicle and Fuel Emissions Laboratory of the US Environmental Protection Agency (EPA), or tested by vehicle manufacturers with EPA’s oversight. The dataset contained 46, 147 records (as of April 27, 2023) for many vehicle models, corresponding to model years between 1984 and 2024. A subset of the most-recent records in the dataset was analyzed here. This subset has 1357 records for model years 2023 and 2024. These records were divided into 6 groups based on the energy source(s) as 993 conventional gasoline-only, 193 unplugged hybrid electric, 113 battery electric, 22 diesel-powered, 20 plug-in hybrid, and 16 dual-fuel ethanol-gasoline. Averages of multiple performance metrics for each group were computed. These vehicle performance metrics help in identifying green vehicles releasing no (or little) tailpipe emissions, or in identifying economic vehicles conserving (paid) energy. Ten green vehicle metrics are covered here. The most important of them is the released grams of tailpipe carbon dioxide per kilometer of driving (or per mile). The overall average of this metric for all analyzed records was 231.0 gCO2/km (corresponding to 371.7 gCO2/mi). With a standard combined driving mode (55% city, 45% highway), 1 L of liquid fuel (gasoline/petrol, diesel, or E85 ethanol-gasoline blend) or a standard equivalent electric energy of 8.90 kWh (32.0 MJ) is consumed by an average vehicle for traveling a distance of 12.4 km (corresponding to 29.3 miles per US gallon of gasoline-equivalent, or MPGe). |
| Date: | 2024–04–07 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:9d5by_v1 |
| By: | Marzouk, Osama A. |
| Abstract: | This study discusses the portion of fuel cell electric vehicles (FCEVs) in the worldwide stock of vehicles on roads, particularly when compared to plug-in electric vehicles (PEVs), which comprise battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). The study considers the overall number of these e-mobility (electric mobility) vehicles, as well as within each of 4 transport modes, namely: (1) passenger light-duty vehicles (PLDVs or simply “cars”), (2) light commercial vehicles (LCVs or simply “vans”), (3) buses, and (4) trucks. The study also investigates the progress in the number of hydrogen refueling stations (HRSs) for FCEVs, and contrasts that with electric charging points (ECPs) for PEVs; during the years 2020, 2021, and 2022. While the number of worldwide FCEVs nearly doubled in 2022 compared to 2020, the ratio of FCEVs to PEVs declined from 0.3348% in 2020 to 0.2738% (less than 0.3%) in 2022. In 2022 also, the number of FCEVs was 0.3914% (less than 0.4%) of the number of BEVs, and 0.9113% (less than 1%) of the number of PHEVs. The worldwide fraction of PEVs with respect to the total vehicles (both electric and non-electric) in 2022 was approximately 1.816% (split into 1.2704% for BEVs and 0.5456% for PHEVs), while the fraction of FCEVs was approximately 0.0050% (only 5 FCEVs per 100, 000 vehicles). In terms of the convenience to supply the vehicles with energy, the number of worldwide hydrogen refueling stations nearly doubled in 2022 compared to 2020. Similarly, the worldwide number of electric charging points for use with PEVs nearly doubled in 2022 compared to 2020. However, the ratio of HRSs to ECPs declined from 0.0415% in 2020 to 0.0378% in 2022. The worldwide average FCEVs per HRS in 2022 was 70.69, while the worldwide average PEVs per ECP in 2022 was 9.75. Thus, PEVs are much more attractive than FCEVs for a driver concerned about the network of hydrogen stations. Furthermore, owners of PEVs have an additional option of recharging their vehicles at home (which is not applicable for FCEVs). Between 2020 and 2022, PEVs were dominated by BEVs, with 69.95% of PEVs being BEVs in 2022. This 2022 fraction of BEVs in PEVs reflects a consistent increase from the 2021 fraction (68.34%) and from the 2020 fraction (67.23%). Considering the worldwide increase in these e-mobility vehicles from 2020 to 2022, the number of FCEVs increased by a factor of 2.072, PHEVs increased by a factor of 2.322, and BEVs increased by a factor of 2.636, PEVs increased by a factor of 2.533. Thus, out of the 3 e-mobility vehicle technologies (FCEVs, PHEVs, and BEVs), BEVs had the strongest presence as well as the fastest growth. |
| Date: | 2023–12–21 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:xrhdy_v1 |
| By: | Maddalena Honorati; Anna Banaszczyk |
| Keywords: | Energy-Coal and Lignite Environment-Environment and Energy Efficiency |
| Date: | 2023–05 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:39849 |
| By: | Luca Bettarelli; Davide Furceri; Prakash Loungani; Jonathan D. Ostry; Loredana Pisano |
| Abstract: | In this paper, we first test the validity of the Environmental Kuznets Curve (EKC) hypothesis, using a large sample of approximately 190 advanced and developing countries, over a period of 34 years (1989-2022). We find that (CO 2 ) emissions respond positively to increasing income per capita, up to a turning point of approximately US$25, 000. In a departure from the previous literature, we allow the relationship between economic development and emissions to depend on the stringency of environmental regulation. |
| Keywords: | Kuznets, Climate change, Environmental policy, Carbon tax |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:unu:wpaper:wp-2025-18 |
| By: | amayed, Yasser |
| Abstract: | Résumé : La transition énergétique est un enjeu stratégique pour la Tunisie, confrontée à une forte dépendance aux énergies fossiles et à la nécessité de réduire ses émissions de gaz à effet de serre (GES). Cette étude analyse l’impact des politiques énergétiques sur les émissions de CO₂ et la durabilité économique à l’aide d’un modèle ARDL. Les résultats révèlent qu’à court terme, la croissance économique augmente les émissions de CO₂, traduisant une forte dépendance aux combustibles fossiles. À long terme, une hausse de la consommation d’énergies renouvelables réduit significativement ces émissions, tandis que la consommation énergétique globale reste le principal facteur d’augmentation des GES. Ces observations soulignent l’urgence d’accélérer la diversification du mix énergétique, d’investir dans des infrastructures durables et de mettre en place des réformes institutionnelles pour une transition énergétique efficace et durable. Abstract : The energy transition constitutes a strategic issue for Tunisia, which faces a considerable reliance on fossil fuels and the necessity to reduce its greenhouse gas (GHG) emissions. This study utilises an Autoregressive Distributed Lag (ARDL) model to analyse the impact of energy policies on CO₂ emissions and economic sustainability. The findings indicate that in the short term, economic growth is associated with an increase in CO₂ emissions, reflecting a significant reliance on fossil fuels. However, in the long term, an increase in the consumption of renewable energy has been shown to have a significant effect in reducing CO2 emissions, although overall energy consumption remains the main driver of GHG emissions. These observations underscore the pressing need for the urgent acceleration of the diversification of the energy mix, the investment in sustainable infrastructure, and the implementation of institutional reforms for an efficient and sustainable energy transition. |
| Keywords: | Mots clés : Transition énergétique, Tunisie, émissions de CO₂, énergies renouvelables, développement durable, modèle ardl. Key words: Energy transition, Tunisia, CO₂ emissions, renewable energy, sustainable development, , ARDL model. |
| JEL: | Q5 |
| Date: | 2025–02–25 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:124142 |
| By: | Zhai, Weiyang |
| Abstract: | We apply a Bayesian structural vector autoregression (VAR) model to estimate the impact of oil and exchange rate shocks on Japan’s gasoline prices and, furthermore, Japan’s gasoline price pass-through into CPI inflation. In addition to the traditional zero and sign restrictions, we adopt a Bayesian framework, which provides a broader set of credible regions. After evaluating the influence of oil supply shocks, economic activity shocks, oil-specific demand shocks, and exchange rate shocks, we found evidence that an increase in gasoline prices is associated with a positive economic activity shock and oil-specific demand shock. On the other hand, the impact of any of the above shocks was not observed on the Japanese consumer price index from the estimated results. |
| Keywords: | Consumer price index; Structural VAR; Pass-through; Oil prices; Gasoline prices |
| JEL: | E31 F31 Q41 Q43 |
| Date: | 2025–03–26 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:124208 |
| By: | Christophe Blot (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po); Elsa Feltz (OCDE - Organisation de Coopération et de Développement Economiques = Organisation for Economic Co-operation and Development); Mathieu Plane (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po) |
| Abstract: | Malgré une croissance dynamique et un taux de chômage bas, l'économie américaine fait face à d'importants déséquilibres budgétaires et commerciaux. Par ailleurs, le vote des Américains en novembre 2024 témoigne d'un important mécontentement des citoyens à l'égard de leur situation économique. En élisant Donald Trump pour un nouveau mandat, les Américains ont fait le choix économique, environnemental et social d'une baisse de leurs impôts, d'une réduction massive du rôle de l'État fédéral, de la baisse de l'immigration, d'un protectionnisme accru envers l'industrie américaine, et d'une dérégulation, notamment dans le domaine de l'environnement. Ce Policy brief analyse les conséquences économiques pour les États-Unis et l'Europe des différentes propositions de Donald Trump pendant sa campagne et ses premières décisions depuis son investiture. Alors que les évaluations du programme économique pendant la campagne présidentielle avaient surtout mis en avant le risque de détérioration de la situation des finances publiques, les premières semaines du mandat de Donald Trump ont été économiquement marquées par des annonces de coupes budgétaires et des hausses de tarifs douaniers. De fait, étant donné l'objectif de réduction des dépenses, la politique budgétaire pourrait s'avérer bien moins expansionniste qu'annoncée, voire restrictive, si bien que l'économie ne serait pas stimulée par la politique budgétaire. En revanche, la perspective d'une augmentation des droits de douane et les expulsions envisagées d'immigrés illégaux devraient non seulement se traduire par une inflation plus élevée mais pèseraient également sur l'activité. L'effet négatif pourrait être accru par l'incertitude concernant les décisions en matière commerciale étant donné la multiplication des annonces depuis le 20 janvier 2025, ainsi que le nombre de personnes qui seront effectivement expulsées des États-Unis. Outre la volonté de renforcer la sécurité de l'Union européenne suite au volte-face des États-Unis vis-à-vis de l'Ukraine, l'économie européenne sera négativement touchée par la guerre commerciale amorcée, notamment l'Allemagne dont la dépendance au marché américain est la plus importante d'Europe. Enfin, la réélection de Donald Trump aura également des conséquences sur le climat puisqu'elle se traduira par des émissions supplémentaires de gaz à effet de serre d'ici à 2030, enterrant définitivement l'espoir de rester sous les +2 °C de réchauffement par rapport à l'ère préindustrielle. En conséquence, se pose la question de la compétitivité européenne liée aux coûts énergétiques relativement plus élevés en Europe et aux objectifs de décarbonation plus importants, et donc aux coûts supplémentaires pour l'industrie européenne supérieurs aux autres zones du monde. |
| Date: | 2025–03–12 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04998294 |
| By: | World Bank |
| Keywords: | Energy-Energy Finance Energy-Renewable Energy Environment-Climate Change Mitigation and Green House Gases Finance and Financial Sector Development-Access to Finance |
| Date: | 2023–04 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:39689 |
| By: | Ollila, Saana (Swedish National Road and Transport Research Institute (VTI)); Bratt Börjesson, Maria (Swedish National Road and Transport Research Institute (VTI)); Proost, Stef (KU Leuven) |
| Abstract: | This paper examines carbon pricing in the international shipping sector, considering that the benefits from shipping trade and the willingness to pay (WTP) for reducing carbon emissions vary among countries. Given each country’s WTP for reducing carbon emissions, we derive optimal carbon pricing for three different cooperation scenarios and numerically illustrate their welfare effects for shipping trade between five major trading blocs (treated as countries). Full global cooperation provides a benchmark for the analysis. The focus of this study is on self-enforcing bilateral agreements, where we analyze two types of agreement: one with an equal allocation of tax revenues and one with a flexible allocation of tax revenues. We show what drives cooperation and how shipping trade volumes and shipping technologies respond to the agreements. Self-enforcing bilateral agreements between the five trading blocs could reduce emissions by three to seventeen percent compared to a baseline scenario with no emission reduction policies in place. The reduction in emissions is the result of a reduction of the volume of trade and implementation of abatement technologies. The high carbon abatement costs in shipping remain the main limitation for larger emission reductions. |
| Keywords: | Climate; shipping; international agreements; carbon taxes; Emissions Trading System; IMO |
| JEL: | F18 H23 Q56 Q58 |
| Date: | 2025–04–23 |
| URL: | https://d.repec.org/n?u=RePEc:hhs:vtiwps:2025_002 |
| By: | Javier Sanchez-Reaza; Diego Ambasz; Predrag Djukic; Karla McEvoy |
| Keywords: | Environment-Climate Change Impacts Environment-Climate Change Mitigation and Green House Gases Macroeconomics and Economic Growth-Climate Change Economics |
| Date: | 2023–04 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:39729 |
| By: | Sérgio Cruz |
| Abstract: | This paper analyzes the impact of key decarbonization and economic factors on electricity consumption supplied through the power grid in Portugal, between 1995 and 2023. Energy eciency surges as one of the variables with the most significant coecients, as a result of the policies that encourage the reduction of energy/electri- city consumption. Though self-consumption generally reduces pressure over the grid demand, its effect remains small and sometimes statistically insignificant. However, continuous monitoring is essential to anticipate its future impact on grid-supplied electricity. Additionally, as Portuguese regions shift towards the service sector, elec- tricity consumption is increasing, likely driven by electric-intensive service subsectors and increased digitalization. Electrification also shows a positive impact on the elec- tricity demand. A comprehensive approach to assess long-term electricity demand that manages these many confounding effects, will better guide investment decisions in grid infrastructure, provide clearer insights into the future evolution of allowable revenues and grid tariffs, and help meet the EU's decarbonization targets. |
| Keywords: | decarbonization, electrication, energy eciency, electricity demand, in- 21 come elasticity; |
| JEL: | Q41 Q43 |
| Date: | 2025–04 |
| URL: | https://d.repec.org/n?u=RePEc:ise:remwps:wp03762025 |
| By: | Audi, Marc; Poulin, Marc; Ahmad, Khalil; Ali, Amjad |
| Abstract: | This study analyzes the impact that economic, political, and social globalization has had on carbon dioxide emissions in BRICS countries from 1991 to 2022. An empirical analysis has been performed by using the panel ordinary least squares, fixed effects, fully modified ordinary least squares, dynamic ordinary least squares, and panel quantile regres-sion methods. The findings show that both coal-based energy production and economic expansion are major contribu-tors to carbon emissions in BRICS countries. This research substantiates that there is an inverted U-shaped relationship between carbon emissions and per capita income in these countries, which validates the environmental Kuznets curve (EKC) hypothesis. Also, coal-based energy production and economic development are seen to be significant in raising carbon emissions at lower quantiles, and their significance falls at higher quantiles, thus reinforcing the EKC hypothe-sis in BRICS. The results show a strong influence of both political as well as economic globalization on carbon emis-sions, whereas social globalization has an insignificant impact. The findings indicate that the influence of economic and political globalization on carbon emissions differed across the distribution of carbon emissions, with a higher ef-fect in the lower to middle quantiles and a lower effect in the higher quantiles; this is consistent with the EKC theory. This type of impact by disaggregate globalization indicates that deeper regional cooperation and the empowerment of global institutions can depress global carbon emissions. |
| Keywords: | carbon emissions; economic globalization; political globalization; social globalization |
| JEL: | F6 Q5 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:124293 |
| By: | Catherine Bobtcheff (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 nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Philippe de Donder (TSE-R - Toulouse School of Economics - UT Capitole - Université Toulouse Capitole - UT - Université de Toulouse - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, CNRS - Centre National de la Recherche Scientifique); François Salanié (TSE-R - Toulouse School of Economics - UT Capitole - Université Toulouse Capitole - UT - Université de Toulouse - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | We set up a static model of electricity provision in which delivery to consumers is only imperfectly reliable. Blackouts can be either rolling or systemic; in both cases a price cap has to be imposed on the wholesale market. We characterize optimal allocations and we show that for any given value of the price cap on the wholesale market, one can decentralize these allocations thanks to two types of regulatory instruments: a retail tax, and capacity subsidies. Some properties follow. If demand is affected by multiplicative shocks only, capacity subsidies are exactly financed by the revenues from the retail tax. If moreover the distribution of systemic blackouts is exogenous, a price cap is sufficient, provided it is set at the value of lost load. In all other cases, all instruments are needed, and capacity subsidies need to be differentiated, based on the correlation between available capacity and its social value. |
| Keywords: | Electricity, Reliability, Renewables, Climate Change |
| Date: | 2024–07 |
| URL: | https://d.repec.org/n?u=RePEc:hal:psewpa:hal-04738143 |
| By: | Matías Herrera Dappe; Vivien Foster; Aldo Musacchio; Teresa Ter-Minassian; Burak Turkgulu |
| Keywords: | Macroeconomics and Economic Growth-Fiscal Adjustment Energy |
| Date: | 2023–05 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:39752 |
| By: | Kang, Munsu (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Ryou, Kwangho (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Lee, Jieun (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Kim, Young Sun (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Lee, Da Woon (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)) |
| Abstract: | 걸프 지역(사우디아라비아, 아랍에미리트, 카타르, 바레인, 쿠웨이트, 오만)과 아시아 주요국(한국, 중국, 일본, 인도 등) 간 경제협력은 에너지 공급망을 중심으로 형성되어왔으며, 국제 유가 상승과 함께 대규모 인프라 건설 시장이 형성되면서 인프라 협력도 활발히 진행되었다. 그러나 2010년 초반 이래 저유가 시대가 도래하면서 걸프 지역 내 경제 다각화 움직임이 본격화되었으며 사우디 비전 2030, UAE 센테니얼 2071, 카타르 국가비전 2030 등과 같은 국가 발전 전략이 발표되었다. 다만 에너지 산업 이외의 산업 기반이 부족한 걸프 국가가 제조업을 육성하기 위해서는 대외 협력이 필수적이었으므로 걸프 국가들은 아시아 국가의 산업 발전 모델을 적용하고 기술을 이전받기 위해 아시아 주요국과의 협력을 강화해왔다. Economic cooperation between the Gulf region (Saudi Arabia, the United Arab Emirates, Qatar, Bahrain, Kuwait, and Oman) and major Asian countries (such as South Korea, China, Japan, and India) has been primarily centered around energy supply chains. With the rise in international oil prices after the oil shock, a large-scale infrastructure construction market has also developed, leading to active collaboration in infrastructure projects between two regions. However, since the early 2010s, the era of low oil prices has prompted a significant push for economic diversification within the Gulf region, resulting in the announcement of national develop. (the rest omitted) |
| Keywords: | asia; strategy; gulf; policy implication; Korea-GCC |
| Date: | 2024–12–30 |
| URL: | https://d.repec.org/n?u=RePEc:ris:kieppa:2024_003 |
| By: | Shahzad, Qaisar; Aruga, Kentaka |
| Abstract: | This paper analyzes Pakistan's energy policies from 1990 to 2024, tracking their evolution from focusing on energy generation to an integrated approach emphasizing renewable energy and efficiency. Through a systematic literature review, the study evaluates policy effectiveness and identifies key implementation barriers. Early policies, such as the National Energy Conservation Policy (1992) and the Energy Policy (1994), prioritized generation capacity to meet energy security needs but paid limited attention to renewable sources or energy efficiency improvements. The policy landscape began to shift in the 2000s with the introduction of incentives for renewable energy and energy efficiency initiatives. Despite this progress, challenges related to short-term planning, inconsistent implementation, and an over-reliance on fossil fuels persist. Recent policies, such as the Alternative and Renewable Energy Policy (2019) and the National Energy Efficiency and Conservation Plan (2020-25), provide a comprehensive framework for promoting sustainable energy practices. However, persistent institutional, financial, and regulatory barriers limit their effectiveness. The paper recommends that Pakistan's energy strategy focus on long-term planning, strengthened fiscal incentives, and enhanced institutional support to align with global energy security and climate resilience standards. These recommendations aim to foster a sustainable energy future, advancing national energy security and environmental goals. |
| Keywords: | Energy Policy, Energy Efficiency, Environment, fossil fuel. |
| JEL: | Q5 Q51 Q58 |
| Date: | 2024–12–11 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:124077 |
| By: | Amayed, Yassr |
| Abstract: | Cet article analyse l’impact de la digitalisation et de la transition énergétique sur la croissance économique en Afrique du Nord, dans une optique de développement durable. À l’aide du modèle CS-ARDL, il distingue les effets à court terme des ajustements dynamiques et met en évidence les relations structurelles à long terme découlant des investissements en capital fixe, de la consommation énergétique – qu’elle soit renouvelable ou non – et de l’adoption des technologies de l’information et de la communication (TIC). Les résultats montrent qu’à court terme, l’activité économique est principalement stimulée par les investissements productifs et la dépendance aux énergies fossiles. À long terme, l’intégration progressive des énergies renouvelables et l’amélioration des infrastructures numériques contribuent à une croissance plus inclusive et résiliente, en cohérence avec les Objectifs de développement durable. Par ailleurs, l’étude met en lumière d’importantes disparités structurelles et régionales, soulignant ainsi la nécessité de politiques publiques adaptées et coordonnées pour maximiser les synergies entre digitalisation et transition énergétique. |
| Abstract: | The present article undertakes an analysis of the impact of digitalization and the energy transition on economic growth in North Africa, from the standpoint of sustainable development. Utilising the CS-ARDL model, it differentiates between short-term effects and dynamic adjustments, emphasising long-term structural relationships stemming from fixed capital investment, energy consumption (both renewable and non-renewable), and the adoption of information and communication technologies (ICT). The findings indicate that, in the short term, economic activity is predominantly driven by productive investment and reliance on fossil fuels. In the long term, the gradual integration of renewable energies and the enhancement of digital infrastructures contribute to more inclusive and resilient growth, in accordance with the sustainable development goals. Concurrently, the study accentuates substantial structural and regional disparities, thereby underscoring the necessity for suitable and coordinated public policies to optimize the synergies between digitalization and the energy transition. |
| Keywords: | Mots-clés : Digitalisation, énergies renouvelables, TIC, transition énergétique, croissance économique, développement durable, Afrique du Nord, CS‑ARDL.; Digitalization, renewable energy, ICT, energy transition, economic growth, sustainable development, North Africa, CS-ARDL. |
| JEL: | Q5 |
| Date: | 2025–03–26 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:124124 |
| By: | Koundouri, Phoebe; Alamanos, Angelos; Arampatzidis, Ioannis; Devves1, Stathis; Sachs, Jeffrey D |
| Abstract: | As global commitments to decarbonization intensify, energy-emission models are becoming increasingly vital for policymaking, offering data-driven insights to evaluate the feasibility and impact of climate strategies. These models help governments design evidence-based policies, assess mitigation pathways, and ensure alignment with national and international targets, such as the Paris Agreement and the EU Green Deal. Researchers often spend a lot of time considering their modelling choices to develop the best possible tools in terms of data-requirements, accuracy, computational demand, while there is always a ‘debate’ of complexity versus explicability and ready-to-use models for policymaking. Especially for energy-emissions models, given their increasing policy-relevance, and the need to provide insights fast for short-term policies (e.g. 2030, or 2050 net-zero goals), such considerations become increasingly pressing. In this paper, we present two different versions of the same energy-emissions model, and we run them for the same study area, planning horizon, and scenario analysis. The two versions differ only in how they approach complexity: Version1 is a more ‘detailed’, complex model, while Version2 is a ‘simpler’ and less data-hungry one. A set of evaluation criteria was then used to qualitatively compare these two versions, based on modelling- and policymaking-related considerations, debating modelers’ and policymakers’ expectations and preferences. We reflect on best modelling practices, discuss different goal-dependent approaches, providing useful guidance for modelers and policymakers |
| Keywords: | Energy-emissions modelling; Decarbonization pathways; Model development; LEAP; Models to policy |
| JEL: | C63 O33 Q41 Q50 Q58 |
| Date: | 2025–03 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:124147 |
| By: | World Bank Group |
| Keywords: | Public Sector Development-Climate Change Policy and Regulation Private Sector Development-Private Sector Economics Environment-Adaptation to Climate Change |
| Date: | 2023–05 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:40006 |
| By: | Marco A. Marini; Samuel Nocito |
| Abstract: | We investigate whether climate activism favors pro-environmental consumption by examining the impact of Fridays for Future (FFF) protests in Italy on second-hand automobile sales in rally-affected areas. Leveraging data on 10 million automobile transactions occurring before and after FFF mobilizations, we exploit rainfall on the day of the event as an exogenous source of attendance variation. Our findings reveal a reduction in both the total number of cars purchased and their average CO2 emissions, with an uptick in the market share of low-emission vehicles and a corresponding decrease in the market share of high-emission counterparts. We test for two potential mechanisms at work: one mediated by an increase in environmental awareness, the other induced by a rational anticipation of future stricter regulations. Empirical evidence suggests that the latter mechanism is generally more pronounced than the former. However, the first channel seems likely to be at work among individuals aged 18-25, a group that is potentially more involved in the FFF movement. |
| Keywords: | Fridays for Future, climate activism, green consumption, carbon emissions, automobiles |
| JEL: | D72 D12 Q53 R41 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11790 |
| By: | Stefan Löschenbrand; Martin Maier; Laurent Millischer; Florian Resch |
| Abstract: | This study investigates carbon pricing-induced credit risk, the potential negative impact of carbon pricing on firms’ ability to meet their financial obligations. Applying a well-established credit assessment model to a novel data set combining financial statements and emissions data, we subject the over 2.5 million borrowers of the euro area’s largest banking groups to two carbon pricing stress scenarios. Our findings reveal a notable variation in impacts between and within sectors. However, even under the conservative scenario, many firms experience only a minimal increase in their probabilities of default. In the more realistic scenario, the aggregate impact on firms’ creditworthiness is not material. The analysis further suggests that the capitalization of euro area banks would not be significantly affected by the carbon pricing-induced increase in corporate credit risk. While this study does not consider the macroeconomic transmission channels, it indicates that higher carbon prices are not likely to trigger widespread firm defaults and jeopardize financial stability. |
| Keywords: | Credit Risk; Climate Change; Transition Risk; Carbon Pricing |
| Date: | 2025–03–28 |
| URL: | https://d.repec.org/n?u=RePEc:imf:imfwpa:2025/062 |
| By: | Carsten Creutzburg (Chair for Economic Policy, University of Hamburg); Leo M. Doerr (Chair for Economic Policy, University of Hamburg); Wolfgang Maennig (Chair for Economic Policy, University of Hamburg) |
| Abstract: | This is the first study to employ a national full sample dataset for a socioeconomic analysis of the adoption of electric vehicles (EVs). We use the most recent vehicle registration dataset from the Fed-eral Motor Transport Authority of Germany, which includes the entire underlying population of German vehicle owners. Combining web-scraped data covering all vehicles available in the German market with actual registration data allows a unique analysis of the individual decisions to purchase an EV. Our results suggest that financial incentives are the most relevant factor for EV adoption, with a €1, 000 subsidy in-crease boosting EV choice probability by 1.2 percentage points. Given that EVs currently constitute 12% of newly registered private vehicles in Germany, our model calculates that, in the absence of subsidies, this share would be 1.2%. In contrast, a uniform maximum subsidy of €9, 000 from 2011 to 2023 could have increased the adoption rate to 20%. These results underscore the importance of fin ancial incentives in achieving policy targets for EV adoption and suggest that purchase subsidies exhibit increasing marginal returns. |
| Keywords: | Electric vehicles, Vehicle choice, Financial Incentives, Discrete choice |
| JEL: | Q42 R41 H23 C35 |
| Date: | 2025–04–15 |
| URL: | https://d.repec.org/n?u=RePEc:hce:wpaper:081 |
| By: | Beaufils, Timothé; Conyngham, Killian; de Vries, Marlene; Jakob, Michael; Kalkuhl, Matthias; Richter, Philipp M.; Spiro, Daniel; Stern, Lennart; Wanner, Joschka |
| Abstract: | This paper formalizes the geopolitical externality of climate policy and estimates its plausible magnitudes. Specifically, domestic reductions in fossil fuel demand depress global prices, thereby lowering export revenues for resource-rich autocracies - many of which allocate substantial resources to military spending. As a result, climate policy reduces geopolitical and security burdens on Western democracies, offering a potential "peace dividend" as a cobenefit. Exploiting the link between the European Union's oil consumption and the EU's costs of the Russian war in Ukraine as a case study, we highlight the relevance of this externality. We estimate that each euro spent on oil in the EU generates geopolitical costs of 0.37 [0.01 - 4.7] euros related to Russia's war on Ukraine. Based on our central estimate, a carbon price of 62 euros per ton of CO2 would be required to internalize these costs. Even under conservative assumptions, our analysis highlights that the geopolitical externality offers a compelling argument for strong unilateral efforts to reduce fossil fuel demand in the EU. |
| Keywords: | geopolitical externality, climate policy, co-benefit, EU climate policy, Russia's invasion ofUkraine |
| JEL: | F18 F51 F52 H23 H56 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:ifwkwp:315470 |
| By: | Drago, Carlo; Arnone, Massimo; Leogrande, Angelo |
| Abstract: | The paper examines nitrous oxide (N₂O) emissions from an Environmental, Social, and Governance (ESG) standpoint with a combination of econometric and machine learning specifications to uncover global trends and policy implications. Results show the overwhelming effect of ESG factors on emissions, with intricate interdependencies between economic growth, resource productivity, and environmental policy. Econometric specifications identify forest degradation, energy intensity, and income inequality as the most significant determinants of N₂O emissions, which are in need of policy attention. Machine learning enhances predictive power insofar as emission drivers and country-specific trends are identifiable. Through the integration of panel data techniques and state-of-the-art clustering algorithms, the paper generates a highly differentiated picture of emission trends, separating country groups by ESG performance. The findings of the study are that while developed nations have better energy efficiency and environmental governance, they remain significant contributors to N₂O emissions due to intensive industry and agriculture. Meanwhile, developing economies with energy intensity have structural impediments to emissions mitigation. The paper also identifies the contribution of regulatory quality in emission abatement in that the quality of governance is found to be linked with better environmental performance. ESG-based finance instruments, such as green bonds and impact investing, also promote sustainable economic transition. The findings have the further implications of additional arguments for mainstreaming sustainability in economic planning, developing ESG frameworks to underpin climate targets. |
| Date: | 2025–03–20 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:4r8ux_v1 |
| By: | Barbour, Elisa; Thoron, Noah |
| Abstract: | In California, local option sales taxes (LOSTs) are adopted by voters to increase the retail sales tax. Revenues are used to fund specific transportation projects. Meanwhile, metropolitan planning organizations (MPOs) are required by Senate Bill 375 to develop long-range plans to achieve reductions in vehicle miles traveled and emissions. But MPOs do not directly control the sponsorship or funding of most transportation projects in these plans. LOSTs are not bound by requirements of SB 375, even though MPOs must still account for impacts of LOST spending. In this context, an important question is whether and how LOST measures influence transportation planning priorities. To explore this question, researchers from the University of California, Davis, examined county LOST measures and regional transportation plans in California’s “big four” MPO regions—the San Francisco, Los Angeles, San Diego, and Sacramento metropolitan areas. This policy brief summarizes the findings from that research and provides policy implications. View the NCST Project Webpage |
| Keywords: | Social and Behavioral Sciences, expenditures, financing, local taxation, metropolitan planning organizations, sales tax |
| Date: | 2025–04–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt2h40g923 |
| By: | Beiser-McGrath, Liam; Bernauer, Thomas |
| Abstract: | We shed new light on a long-standing question in political science: When confronted with costly policy choices, do citizens form their preferences using material (economic) concerns or other-regarding motivations, such as the distribution of costs, and how are these moderated by political ideology? Using the case of carbon taxation, a widely advocated policy solution to climate change, we conducted survey experiments in Germany and the United States to assess the relative importance of these forms of preferences. The results show that individuals are primarily concerned with how a carbon tax would affect their individual income. There are also important cross-national differences with high-income German respondents being more receptive to redistributive policy design, especially in contrast to high-income Democrats who significantly decrease support for carbon taxation. These findings highlight how the constituencies generated by new policies can significantly alter the distribution of mass support for action on emerging societal problems. |
| Keywords: | carbon tax; environmental politics; climate policy; political economy; climate change |
| JEL: | Q50 H23 |
| Date: | 2024–04–03 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:120995 |
| By: | Nelli, Linnea; Virgillito, Maria Enrica; Vivarelli, Marco |
| Abstract: | The aim of this paper is to understand whether what has been labelled as "twin transition", at first as a policy flagship, endogenously emerges as a new technological trajectory stemming by the convergence of the green and digital technologies. Embracing an evolutionary approach to technology, we first identify the set of relevant technologies defined as "green", analyse their evolution in terms of dominant blocks within the green technologies and concurrences with digital technologies, drawing on 560, 720 granted patents by the US Patent Office from 1976 to 2024. Three dominant blocks emerge as relevant in defining the direction of innovative efforts, namely energy, transport and production processes. We assess the technological concentration and underlying complexity of the dominant blocks and construct counterfactual scenarios. We hardly find evidence of patterns of actual endogenous convergence of green and digital technologies in the period under analysis. On the whole, for the time being, the "twin transition" appears to be just a policy flagship, rather than an actual endogenous technological trajectory driving structural change. |
| Keywords: | Twin transition, policy flagship, technological trajectories |
| JEL: | O33 Q55 Q58 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:glodps:1580 |
| By: | Kirsten Hund; Daniele La Porta; Thao P Fabregas; Tim Laing; John Drexhage |
| Keywords: | Environment-Adaptation to Climate Change Environment-Climate Change Impacts |
| Date: | 2023–05 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:40002 |
| By: | Kim, Gyu-Pan (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)) |
| Abstract: | This Brief attempts to examine Japan's rare metal policy since the mid-2000s and recent supply chain policies for critical minerals, and analyze comparative supply chain risks between Korea and Japan by critical mineral resources to derive policy implications for the Korean government. Section Ⅱ outlines the Japanese government's various rare metal resource policies and achievements since the mid-2000s and examines the Japanese government's recent supply chain support policies for critical minerals. Section Ⅲ summarizes the results of the supply chain risk analysis of the five battery mineral resources and rare earths in Korea and Japan. Section Ⅳ concludes by presenting several cooperation agendas for mineral resource cooperation between Korea and Japan based on the analysis results presented. |
| Keywords: | Japan; policy; South Korea |
| Date: | 2025–04–04 |
| URL: | https://d.repec.org/n?u=RePEc:ris:kiepwe:2025_005 |
| By: | Tanguy Bonnet (EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | The aim of this paper is to investigate the links between energy transition critical minerals -which are crucial to the deployment of low-carbon technologies -and foreign direct investments. To this end, we consider the production of 8 energy transition critical minerals over the 1997-2020 period as an explanatory variable for FDI inflows, by using an original, complete, and precise database. Implementing a battery of panel data estimations to ensure the robustness of our results, we find that there is no FDI-resource curse for the energy transition critical minerals production. Unlike oil, energy transition critical minerals do generally attract foreign capital inflows, the positive attraction effect on resource seeker FDI likely dominates the negative eviction effect on nonresource seeker FDI; the minerals with the strongest FDI attraction effect being cobalt, lithium, and rare earth elements. These results confirm the important economic and strategic motivations of investing countries and companies, but also represent risks and opportunities for the host mining countries. |
| Keywords: | Energy transition critical minerals ; Foreign direct investments ; Resource curse |
| Date: | 2025–03–21 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05000376 |
| By: | Risius, Paula; Tiedemann, Jurek; Küper, Malte; Flake, Regina |
| Abstract: | Um bis 2045 klimaneutral zu werden, ist die Reduktion von Emissionen von grundlegender Bedeutung. Einer der Energieträger, auf die umgestiegen werden soll, ist grüner Wasserstoff. Dieser bietet je nach Branche unterschiedlich große Potenziale, ist aber insbesondere für die Defossilisierung der energieintensiven Branchen Stahl und Chemie unumgänglich. Für den erfolgreichen Hochlauf der Wasserstoffwirtschaft und die Schaffung einer entsprechenden technischen Infrastruktur sind gut ausgebildete Fachkräfte, die die Entwicklung, Implementierung und den Betrieb der vielfältigen Anwendungen von Wasserstoff vorantreiben, Voraussetzung. Das vorliegende Papier betrachtet die Fachkräftesituation in ausgewählten Bereichen entlang der Wasserstoff-Wertschöpfungskette: von der Erzeugung über den Transport bis zum Einsatz in der chemischen Industrie, der Stahlindustrie, dem Verkehrs- sowie dem Gebäudesektor. Zudem wird die Ausbildungssituation in wasserstoffrelevanten Berufen betrachtet. Insgesamt zeigt sich, dass es für den Hochlauf der Wasserstofftechnologie zwar überwiegend passend qualifizierte Fachkräfte auf dem Arbeitsmarkt gibt, die Verfügbarkeit jedoch nach Beruf und Branche variiert und teilweise Fachkräfteengpässe bestehen. Denn die Situation in relevanten Berufen ist - wie auf dem Arbeitsmarkt insgesamt - angespannt: Über alle relevanten Berufe hinweg fehlten in den betrachteten Branchen 2024 etwa 49.500 qualifizierte Fachkräfte. Mit zusätzlichen Fachkräftebedarfen ist insbesondere beim Aufbau der Infrastrukturen, wie Elektrolyseuren und Leitungen, zu rechnen. Zu den für den Wasserstoffhochlauf relevanten Berufen, in denen schon heute viele Stellen unbesetzt bleiben, gehören Fachkräfte für Bauelektrik, Elektrische Betriebstechnik sowie Maschinenbau- und Betriebstechnik. Zu beachten ist, dass die in dieser Studie als relevant identifizierten Wirtschaftsbereiche nicht alle Wirtschaftsbereiche abdecken, in denen grüner Wasserstoff in Zukunft an Relevanz gewinnen könnte. Der Wasserstoffhochlauf erzeugt in einigen Berufen einen steigenden Bedarf an Fachkräften. In anderen Berufen führt er zu zusätzlichen Kompetenzanforderungen, die jedoch meist über gezielte kürzere Weiterbildungen qualifiziert werden können - beispielsweise für den Umgang mit hohem Gasdruck oder Hochvoltsystemen, wofür es bereits etablierte Qualifizierungsangebote gibt. Somit wird aktuell kein Änderungsbedarf an den derzeit gültigen Ausbildungsordnungen gesehen. Um der herausfordernden Fachkräftesituation in zahlreichen Berufen mit unmittelbarem Wasserstoffbezug zu begegnen, lassen sich verschiedene Handlungsoptionen ableiten. So gilt es, das Matching am Ausbildungsmarkt zu verbessern, denn zuletzt blieben 18.177 angebotene Ausbildungsstellen in wasserstoffrelevanten Berufen unbesetzt. Auch das Potenzial von Quereinsteigern sollte noch stärker berücksichtigt werden. Damit Unternehmen überhaupt in den Hochlauf der Wasserstofftechnologie und die Qualifizierung des benötigten Personals investieren können, sollte die nächste Bundesregierung an die bisherigen Fortschritte anknüpfen und drängende Handlungsfelder, wie den Bau von Elektrolyseuren sowie die Überwindung der Wirtschaftlichkeitslücke zwischen fossilen Energieträgern und grünem Wasserstoff, konsequent angehen. |
| Abstract: | To achieve climate neutrality by 2045, reducing emissions is of fundamental importance. One of the energy sources to be switched to is green hydrogen. Its potential varies depending on the sector, but it is particularly important for the defossilization of the energy-intensive industries such as steel and chemicals. For the successful ramp-up of the hydrogen economy and the creation of a corresponding technical infrastructure, welltrained specialists are required in order to drive forward the development, implementation and operation of the diverse applications of hydrogen. In this paper, we look at the skills situation in selected areas along the hydrogen value chain: from production and transportation to use in the chemical industry, the steel industry, the transport sector and the building sector. We also take a look at the training situation in hydrogen-related professions. Overall, it can be seen that although there are generally suitably qualified skilled workers on the labor market for the ramp-up of hydrogen technology, their availability varies by occupation and sector and there are shortages of skilled workers in some cases. As in the labor market as a whole, the situation in relevant professions is tense: Across all relevant occupations, there was a shortage of around 49, 500 qualified skilled workers in the sectors under consideration in 2024. Additional skilled workers will be needed in particular for the construction of infrastructure, such as electrolysers and pipelines. The occupations relevant to the hydrogen ramp-up, in which many jobs are already unfilled today, include skilled workers for construction electrics, electrical operating technology as well as mechanical and operating technology. It should be noted that the economic sectors identified as relevant in this study do not cover all economic sectors in which green hydrogen could gain relevance in the future. The hydrogen ramp-up is creating an increasing demand for skilled workers in some professions. In other professions, it will lead to additional skills requirements, which, however, can usually be qualified through targeted, shorter training courses - for example, for dealing with high gas pressure or high-voltage systems, for which there are already established further training courses. Consequently, there is currently no need to change the current training regulations. Various options for action can be derived to address the challenging skills situation in the numerous professions directly related to using hydrogen. For example, matching applicants and open positions on the training market needs to be improved, as 18, 177 training positions in hydrogen-related professions were recently unfilled. The potential of lateral entrants should also be given greater consideration. In order for companies to be able to invest in the ramp-up of hydrogen technology and the qualification of the required personnel, the next German government should build on the progress made so far and consistently tackle urgent fields of action, such as the construction of electrolysers and bridging the economic viability gap between fossil fuels and green hydrogen. |
| JEL: | Q42 J24 O14 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:iwkrep:315472 |
| By: | Saadaoui, Jamel |
| Abstract: | I explore the relationship between US-China tensions, US partisan conflict and global oil prices over the last 20 years. Using lag-augmented local projections, I find empirical support for both the scapegoating hypothesis and the “following the flag” hypothesis. For the scapegoating hypothesis, a rise of US partisan conflict lead to an increase in US-China tension and a reduction of the global prices of oil in the medium run. For the “following the flag” hypothesis, a rise in US-China tension lead to a reduction of US partisan conflict and a reduction of the global prices of oil in the short run. Overall, I underline a new channel through which the domestic economy can be influenced by geopolitical tensions. |
| Keywords: | US-China Tensions; US Partisan Conflict; Global Oil Prices |
| JEL: | F4 F5 F6 |
| Date: | 2025–03–28 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:124152 |
| By: | Egbert, Henrik |
| Abstract: | This paper examines whether conspicuous destruction—typically observed in small groups or individuals—can emerge as a behavioral pattern in large, democratic societies. Using Germany’s energy transition as a case study, it explores how politically legitimized decisions lead to the dismantling and devaluation of existing energy infrastructure, including nuclear power plants and fossil fuel systems. This visible devaluation and destruction serve as political and social signals of Germany’s commitment to a green economy. The paper identifies three interrelated motives driving this process: the pursuit of status, the demonstration of power, and the display of economic wealth. These motives, commonly observed in small groups, help explain similar behavioral patterns in national policymaking within the energy sector. |
| Keywords: | conspicuous destruction; energy transition; wealth; climate status; Germany |
| JEL: | P17 Q48 Z13 |
| Date: | 2025–03–23 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:124051 |
| By: | Markus Dertwinkel-Kalt; Max R. P. Grossmann |
| Abstract: | When environmental regulations are unpopular, policymakers often attribute resistance to information frictions and poor communication. We test this idea in the context of a major climate policy: Germany’s Heating Law of 2023, which mandates the phase-out of fossil fuel heating. Through a survey experiment with property owners, we examine whether providing comprehensive information about the regulation’s costs, requirements, and timeline affects adoption decisions and policy support. Despite successfully increasing factual knowledge, information provision has no significant effect on intended technology adoption, policy support, or incentivized measures of climate preferences. Instead, pre-existing environmental preferences and demographic characteristics emerge as the key predictors of responses to the regulation. A feeling that existing systems still work well and cost considerations dominate fossil fuel users’ stated reasons for non-adoption, while independence from fossil fuels and perceived contributions to the common good drive adoption among switchers. Our findings suggest that opposition to climate policy stems from fundamental preference heterogeneity rather than information frictions. This has important implications for optimal policy design, highlighting potential limits of information provision in overcoming resistance to environmental regulation. The results also speak to broader questions in political economy about the relationship between knowledge, preferences, and support for policy reform. |
| Keywords: | environmental regulation, technology adoption, information provision, political economy, climate policy |
| JEL: | D83 H31 Q48 Q58 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11759 |
| By: | Moon, Jin-Young (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Na, Seung Kwon (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Kim, Eunmi (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Jang, Hanbyeol (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)) |
| Abstract: | The article conducted an analysis of global climate finance discussions and mobilization efforts, cases of climate finance-related strategies and policies by major countries, and strategies for promoting the use of private climate finance, and based on this, the following Korea's policy recommendations were presented. First, policymaking must consider the entire lifecycle of climate finance, from mobilization to utilization and tracking. Second, measures should be implemented to build a comprehensive climate finance statistics system to generate and manage statistical data. Third, it is crucial to identify the obstacles that hinder developing countries from effectively employing climate finance. Fourth, it is also necessary to promote private sector financing through various financial mechanisms and to improve the financial support system. Finally, it is crucial to enhance domestic support for disadvantaged sectors and vulnerable groups impacted by the transition to carbon neutrality, and to allocate additional resources to facilitate the shift to a low-carbon economy. |
| Keywords: | mobilizing; climate; finance: global; perspective; korea |
| Date: | 2025–01–07 |
| URL: | https://d.repec.org/n?u=RePEc:ris:kiepwe:2025_003 |
| By: | Adams, Samuel; Ofori, Isaac K.; Gbolonyo, Emmanuel Y. |
| Abstract: | This study employs macro-level data from 33 African countries to examine the impact of energy consumption (disaggregated into renewable and non-renewable sources) on income inequality. It further investigates the moderating role of five distinct democracy typologies – liberal, electoral, deliberative, participatory, and egalitarian – within the energy-inequality nexus. Employing the dynamic GMM estimator, the analysis accounts for the persistence of income inequality and mitigates endogeneity concerns. The findings reveal that energy consumption plays a significant role in reducing income inequality across Africa. The interactive analysis also demonstrates that the income-equalising effect of non-renewable energy is particularly pronounced. Moreover, while all democracy typologies amplify the inequality-reducing effect of non-renewable energy, only participatory and egalitarian democracies enhance the impact of renewable energy. These results underscore the nuanced and asymmetric influence of energy types on income distribution in Africa, with non-renewable energy exhibiting more substantial direct and conditional effects. The study concludes by outlining key policy implications to foster equitable growth. |
| Keywords: | Africa, Democracy, Energy consumption, Renewable energy consumption, Non-renewable energy consumption, Income inequality |
| JEL: | D63 H11 O43 O55 Q01 Q43 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:esprep:313785 |
| By: | Buntaine, Mark |
| Keywords: | Social and Behavioral Sciences |
| Date: | 2025–04–21 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:globco:qt1fv029br |
| By: | World Bank Group |
| Keywords: | Environment-Adaptation to Climate Change |
| Date: | 2023–05 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:40025 |
| By: | Handy, Susan |
| Abstract: | This project reviews and summarizes empirical evidence for a selection of transportation and land usepolicies, infrastructure investments, demand management programs, and pricing policies for reducingvehicle miles traveled (VMT) and greenhouse gas (GHG) emissions. The project explicitly considers socialequity (fairness that accounts for differences in opportunity) and justice (equity of social systems) forthe strategies and their outcomes. Each brief identifies the best available evidence in the peer-reviewedacademic literature and has detailed discussions of study selection and methodological issues. VMT and GHG emissions reduction is shown by effect size, defined as the amount of change in VMT (orother measures of travel behavior) per unit of the strategy, e.g., a unit increase in density. Effect sizescan be used to predict the outcome of a proposed policy or strategy. They can be in absolute terms (e.g., VMT reduced), but are more commonly in relative terms (e.g., percent VMT reduced). Relative effectsizes are often reported as the percent change in the outcome divided by the percent change in thestrategy, also called an elasticity. |
| Keywords: | Engineering, Social and Behavioral Sciences |
| Date: | 2025–04–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt94x127n7 |
| By: | Emilio Colombo; Alessia De Santo; Francesco Trentini |
| Abstract: | Green jobs and skills are pivotal to global and European efforts toward an environmentally sustainable economy and climate neutrality. Understanding their characteristics is vital for designing policies that address workforce challenges during this transition. Existing literature often analyzes green jobs using occupations as a proxy, either categorizing entire occupations as green or assigning greenness scores based on tasks. This study extends the analysis by focusing on green skills, leveraging data from Eurostat’s Web Intelligence Hub on Online Job Advertisements (OJA). This dataset allows us to observe skill requirements at the job advertisement level, revealing heterogeneity within occupations. We analyze green OJAs—ads featuring at least one green skill—at the ISCO IV-digit level across 26 European countries (2019–2023). We find that green OJAs are linked to higher education requirements, higher wages, and lower experience demands. Additionally, introducing an occupation greenness score, we find that green OJAs in brown occupations (jobs with zero greenness) also command a wage premium. The granularity of our data allows us to provide evidence on the specificity of skill bundles for green occupations, differences in skill demand at the extensive and intensive margin, and complementarities between green skills and other skill types. More specifically green OJAs emphasize social, communication, and management skills. They also rely more on distinctive, specialized cognitive and manual skills. |
| JEL: | J21 J24 J63 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:dis:wpaper:dis2503 |
| By: | Shahzad, Qaisar; Aruga, Kentaka |
| Abstract: | This study addresses the critical issue of climate change awareness in Pakistan by evaluating the Pakistani citizens’ willingness to adopt energy reforms to reduce CO2 emissions. Using best-worst scaling, we examined five key attributes important for reforming the Pakistan energy policy: CO2 emission reduction, energy independence, employment impact, transition time, and changes in energy price. The findings reveal a strong preference for reducing CO2 emissions, enhancing energy independence, increasing employment, and accelerating policy implementation. Meanwhile, Pakistan residents revealed concerns about potential increases in energy bills. The analysis showed that male, urban, educated, full-time employed, middle-aged (35-44), married individuals with children, high-income, and environmentally conscious respondents were more willing to trade-off for CO2 reduction. In contrast, apprehension about potential job losses and higher energy bills was prevalent across all subgroups. The study recommends diversifying energy sources, including nuclear and hydro-energy, as a strategic approach to balance environmental goals with economic stability in Pakistan. These insights into public energy policy preferences can inform policymakers and researchers in similar developing countries of sustainable energy strategies. |
| Keywords: | CO2 emission, Unemployment, Trade-off, Energy reform |
| JEL: | Q4 Q48 Q56 |
| Date: | 2025–02–11 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:124119 |
| By: | Giacomo Ravaioli; Francesco Lamperti; Andrea Roventini; Tiago Domingos |
| Abstract: | Climate change and economic inequality are two critical and interlinked global challenges. The feasibility of jointly reducing greenhouse gas emissions and inequality has often been questioned. Here, we aim to test whether a properly designed mix of progressive and environmental fiscal policies can effectively reduce both while improving economic dynamics. We extend the DSK integrated-assessment agent-based model to combine an income class-based analysis of inequality with an improved accounting of emissions. We calibrate the model to the European Union and employ it to explore how fiscal policies can tackle the coevolution of income inequality and carbon emission. The results show that no single policy in our portfolio can simultaneously reduce inequality and emissions. Redistributing income increases aggregate consumption and hence emissions, whereas environmental taxes risk hampering economic growth and stability. In contrast, a combination of progressive fiscal policies, green subsidies to reduce carbon intensity of production and a mild carbon tax achieves both goals, while increasing employment, growth, stability and the consumption of low-income households. A potential trade-off emerges between increasing economic growth and reducing emissions, mediated by the extent to which green innovations lead to higher productivity. In conclusion, our results show that moving towards a sustainable and inclusive economy needs the co-design of distributive, innovation and mitigation policies. |
| Keywords: | climate policies, inequality, mitigation, just transition, ecological macroeconomics, agent-based modelling |
| Date: | 2025–04–14 |
| URL: | https://d.repec.org/n?u=RePEc:ssa:lemwps:2025/14 |
| By: | Sanjit Dhami; Paolo Zeppini (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur) |
| Abstract: | We consider firms' choices between a clean technology that benefits, and a dirty technology that harms, the environment. Green firms are more suited to the clean technology and brown firms are more suited to the dirty technology. We use a model derived from complexity theory that takes account of true uncertainty and increasing returns to technology adoption. We examine theoretically, the properties of the long-run equilibrium, and provide simulated time paths of technology adoption, using plausible dynamics. The long-run outcome is an 'emergent property' of the system, and is unpredictable despite there being no external technological or preference shocks. We describe the role of taxes and subsidies in facilitating adoption of the clean technology; the conflict between optimal Pigouvian taxes and adoption of clean technologies; the optimal temporal profile of subsidies; and the desirability of an international fund to provide technology assistance to poorer countries. |
| Keywords: | Technology choice, Climate change, Complexity, Lock-in effects, Increasing returns, Green subsidies, Public policy, Pigouvian taxes, Stochastic dynamics |
| Date: | 2025–05 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04998831 |
| By: | Matthew Higgins; Thomas Klitgaard |
| Abstract: | “Peak oil”—the notion that the depletion of accessible petroleum deposits would soon lead to declining global oil output and an upward trend in prices—was widely debated in the late 1990s and early 2000s. Proponents of the peak supply thesis turned out to be wrong, given the introduction of fracking and other new extraction methods. Now the notion of peak oil is back, but in reverse form, with global demand set to flatten and then fade amid growing use of EVs and other low-carbon technologies. The arrival of “peak demand” would turn global oil markets into a zero-sum game: Supply growth in one region or field would simply push down prices, driving out higher-cost producers elsewhere. A key question is how U.S. producers would adapt to the new market environment. |
| Keywords: | oil; crude oil; petroleum; fuel prices; OPEC; peak oil demand; consumption; electric vehicles; supply; fracking; global market; extraction |
| JEL: | E3 |
| Date: | 2025–04–14 |
| URL: | https://d.repec.org/n?u=RePEc:fip:fednls:99834 |
| By: | World Bank Group |
| Keywords: | Environment-Adaptation to Climate Change Environment-Climate Change Impacts Environment-Climate Change Mitigation and Green House Gases |
| Date: | 2023–04 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:39750 |
| By: | Barbrook-Johnson, Peter; Cox, Domenica; Penn, Alexandra |
| Abstract: | In recent years, there has been a marked rise in the use of systems thinking approaches in UK policy making institutions, especially in environmental domains. To better understand practice 'on the ground', we conduct a review of examples of systems thinking projects being run by, or for, the UK government in these domains. We conduct a semi-systematic review of grey, academic, and unpublished literature, and interview researchers and policy makers involved in projects. We find evidence of the growing popularity of systems thinking across environmental policy areas. Typically, systems thinking projects concentrate on building understanding during the early stages of the policy cycle. We find fewer instances of it being used in direct instrumental applications and few applications in policy implementation. This reflects a perception of systems thinking as an exploratory tool, and in some cases, as a luxury. Projects employing systems thinking approaches exhibit a diverse array of designs, funding structures, and expertise sources, with both in-house and consultancy-style contributions. We find few project evaluations, discussion of conditions for success or failure predominantly centre on basic good practice. This reflects the inherent challenge in quantifying changes in mental models, with limited time and resource constraints. This poses an obstacle to establishing good practice for systems thinking and achieving broader adoption. Wider socialisation of systems thinking and its value propositions, that challenge perceptions of it as a luxury or exploratory-only tool, and more evaluation of its use, are key priorities for broader adoption. |
| Keywords: | Systems thinking, policy making, environmental policy, energy policy, policy analysis |
| Date: | 2025–03 |
| URL: | https://d.repec.org/n?u=RePEc:amz:wpaper:2025-06 |
| By: | Francesco Lamperti; Giovanni Dosi; Andrea Roventini |
| Abstract: | Climate change stands as one of the most formidable challenges in the twenty-first century. Despite this, our understanding of the unfolding and interconnection of climate-related physical and transitional risks, and their implications for socioeconomic dynamics along various transition pathways, remains insufficient. This deficit of understanding echoes throughout the formulation of effective climate change policies. In this context, our chapter emphasizes the need for a comprehensive and interdisciplinary approach to address climate change. Such an approach must (1) credibly encompass the immense risks that global warming exerts on the Earth system; (2) account for the intricate processes of technical change and technology diffusion that are at the core of the low-carbon transition; (3) allow the percolation of risks and opportunities across sectors and regions; (4) account for behavioral change in consumption dynamics; and (5) allow testing of a wide range of climate policies and their robustness. Complex-systems science offers distinct vantage points for framing the intricate climate challenge. While outlining current research gaps, we argue that the current generation of climate-economy models rooted in complex systems provides a promising starting point to fill these gaps. We delve into a series of findings that evaluate the material impact of climate risks on economic and financial stability and explore alternative trajectories for policy implementation. Our analysis underscores the ability of complex-systems models to account for the extreme costs of climate change and the emergence of critical tipping points, wherein unmitigated emissions lead to free-falling declines in long-term growth and catalyze financial and economic instability. Given such findings, we argue that a complex-systems perspective on climate change advocates for stricter and earlier policy interventions than do traditional climate economy models. These policies can transform the seemingly antithetical objectives of decarbonization and economic growth in standard models into complementary ones. We assert that a combination of regulation and green industrial policies can nurture eco-friendly investments and foster technological innovation, thus steering the economy onto a zero-carbon sustainable growth pathway. These results challenge conventional precepts in the realm of cost-benefit climate economics and offer the building blocks for a more robust and realistic framing of the climate challenge. |
| Keywords: | climate change, complex system, agent-based modeling, decarbonization, climate risk |
| Date: | 2025–04–14 |
| URL: | https://d.repec.org/n?u=RePEc:ssa:lemwps:2025/16 |
| By: | Hwang, Kyung In (Korea Institute for Industrial Economics and Trade) |
| Abstract: | Concerns over the recent downturn in the battery industry are growing, primarily due to the slowdown in the electric vehicle (EV) industry, which accounts for 70 to 80 percent of total battery demand. The market for battery electric vehicles (BEVs), or cars powered entirely by rechargeable batteries, has entered a contractionary phase in Europe, has shrunk by 2.2 percent in the first half of 2024. BEV sales growth has also fallen off in the United States, recording just four percent growth in the first half of 2024, a steep decline from the 54-percent-growth figure posted in 2023. Battery makers had a rough 2024, largely due to the slowdown in BEV sales as well as price declines caused by falling prices for minerals and other key battery ingredients. There are some positives, however, including the prospect for a demand recovery in Europe as the bloc introduces stricter regulations on carbon emissions, and as the prices of important raw materials begin to stabilize. But the second administration of current US President Donald Trump poses an enormous risk to battery makers worldwide. Up to this point, American battery demand has lifted the fortunes of South Korean battery makers. But if the Trump administration follows through with its threats to repeal, revise, or retract some of the critical incentives of the Inflation Reduction Act, demand for Korean batteries could collapse, sending shockwaves through the industry. Nevertheless, batteries are poised to remain a core technology in global electrification, decarbonization, and digital transformation efforts, and in the long run, the industry is likely to continue down a path of structural growth. This paper proposes a two-pronged policy package designed to help Korean battery makers navigate these choppy waters. First, it is essential for South Korea to persuade the new US administration to shape future battery policies in a way that is favorable to South Korea by emphasizing the achievements of Korean investments in the United States and Korean companies’ efforts to establish a battery supply chain outside the Chinese sphere of influence. Second, since the market is likely to rebound at some point, it is crucial to expand tax incentives and increase R&D funding to ensure that Korean companies can continue making investments even during periods of business turbulence. |
| Keywords: | secondary batteries; rechargeable batteries; electric vehicles; EVs; battery industry; LG Energy Solution; SK On; Samsung SDI; CATL; Xiaomi; BYD; South Korea; China; Korea Institute for Industrial Economics and Trade; KIET |
| JEL: | L62 L65 |
| Date: | 2024–11–29 |
| URL: | https://d.repec.org/n?u=RePEc:ris:kietrp:2024_011 |
| By: | Moon, Jin-Young (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Na, Seung Kwon (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Kim, Eunmi (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Jang, Hanbyeol (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)) |
| Abstract: | 국제사회는 개도국의 기후변화 대응을 지원하기 위한 신규 기후재원 목표(NCQG) 설정을 추진하고 있다. 본 연구는 국제사회의 기후재원 조성 노력과 공여국의 기후재원 규모를 분석하고, 향후 글로벌 기후재원 지원에서 우리나라의 대응 방안을 제시하였다. 2장에서는 글로벌 기후재원 논의 및 조성 현황을 정리하면서 신규 기후재원 목표 논의 쟁점을 분석하였다. 먼저 국제사회에서 대다수 당사국은 기후재원의 주요 목적이 ‘기후변화 적응 및 온실가스 감축 활동’이라는 점에 공감하고 있으나, 여전히 기후재원에 대한 합의된 개념은 부재하다. UN기후변화협약 채택 이래 국제사회는 개도국의 기후변화 대응을 지원하기 위해 기후재원에 대해 논의해왔으며, 파리협정 9조에도 원칙적인 내용이 담겨 있다. The global community is striving to establish a New Collective Quantified Goal on Climate Finance (NCQG) to support developing countries in addressing climate change. This research examines international efforts to mobilize climate finance and analyzes the scale of contributions from donor nations. It further suggests strategies for Korea to engage in future climate finance mobilization efforts. (the rest omitted) |
| Keywords: | mobilize; climate finance; global perspective; Korea |
| Date: | 2024–12–31 |
| URL: | https://d.repec.org/n?u=RePEc:ris:kieppa:2024_004 |
| By: | Diego Ambasz; Javier Sanchez-Reaza; Pluvia Zuniga |
| Keywords: | Science and Technology Development-Innovation Science and Technology Development-Technology Innovation Science and Technology Development-Research and Development |
| Date: | 2023–05 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:39826 |
| By: | Khanna, Tarun M.; Danilenko, Diana; Tomberg, Lukas; Hansteen, Sven; Andor, Mark Andreas; Lohmann, Paul; Minx, Jan C. |
| Abstract: | Energy efficiency is often cited as a critical component of mitigation pathways that avoid the worst effects of climate change but suffers from chronic underinvestment. This paper evaluates the efficacy of a range of voluntary approaches-monetary incentives, information and behavioral interventions-on the willingness of households to pay for energy efficient appliances, the market share of efficient appliances, and the subsequent savings in energy consumption to understand which interventions work, under what conditions, and why. We find that information provision, labeling, rebates and subsidies increase willingness to pay for efficient appliances moderately, while loans are ineffective. The effects of such interventions on market shares and associated rebound effects on energy consumption of purchase of energy-efficient appliances remain unclear given the limited evidence. Closing this should be a priority to facilitate better understanding of the role of such interventions in climate and energy policy. Real-world effects are also likely to be smaller than those reported due to study design limitations and potential reporting biases. Overall, the existing evidence does not strongly support the effectiveness of these interventions in achieving large-scale energy efficiency improvements required for decarbonization. |
| Abstract: | Energieeffizienz wird oft als kritische Komponente von Klimaschutzmaßnahmen genannt, die die schlimmsten Auswirkungen des Klimawandels vermeiden sollen, leidet aber unter chronischer Unterinvestition. In diesem Papier wird die Wirksamkeit einer Reihe freiwilliger Ansätze - monetäre Anreize, Informationen und Verhaltensmaßnahmen - auf die Bereitschaft der Haushalte, für energieeffiziente Geräte zu zahlen, den Marktanteil effizienter Geräte und die daraus resultierenden Einsparungen beim Energieverbrauch untersucht, um zu verstehen, welche Maßnahmen unter welchen Bedingungen und warum funktionieren. Wir stellen fest, dass die Bereitstellung von Informationen, die Kennzeichnung, Rabatte und Subventionen die Bereitschaft, für effiziente Geräte zu zahlen, mäßig erhöhen, während Kredite unwirksam sind. Die Auswirkungen solcher Maßnahmen auf die Marktanteile und die damit verbundenen Rebound-Effekte auf den Energieverbrauch beim Kauf energieeffizienter Geräte bleiben angesichts der begrenzten Evidenz unklar. Die Schließung dieser Lücke sollte eine Priorität sein, um ein besseres Verständnis der Rolle solcher Interventionen in der Klima- und Energiepolitik zu ermöglichen. Aufgrund von Einschränkungen beim Studiendesign und möglichen Verzerrungen bei der Berichterstattung sind die Auswirkungen in der Realität wahrscheinlich geringer als berichtet. Insgesamt sprechen die vorliegenden Erkenntnisse nicht eindeutig für die Wirksamkeit dieser Maßnahmen, wenn es darum geht, die für die Dekarbonisierung erforderlichen groß angelegten Energieeffizienzsteigerungen zu erreichen. |
| Keywords: | Energy efficiency, meta-analysis, energy conservation, behavioral interventions, economic incentives, policy instruments |
| JEL: | Q58 Q48 D11 D83 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:rwirep:315481 |
| By: | Frondel, Manuel; Helmers, Viola; Sommer, Stephan |
| Abstract: | Although there is ample empirical evidence that congestion charges can effectively reduce traffic congestion and its detrimental effects, this instrument has only been implemented in a handful European cities. On the basis of a randomized information experiment that was embedded in a survey across seven European countries, this paper empirically investigates whether information on their (i) effectiveness and (ii) a-posteriori acceptance may increase the public support for congestion charges. Relative to the control group, the results indicate that, on average, this information can raise acceptance by 9.3% and 7.1%, respectively. Moreover, while there is substantial heterogeneity in the acceptance across countries, attributing a concrete price level to the charge uniformly raises acceptance at low charge levels, but lowers it at high levels. Based on these results, we conclude that information campaigns on congestion charges and their benefits for commuters and city-dwellers are essential for fostering public support for this rarely employed transport policy instrument. |
| Abstract: | Trotz zahlreicher Studien die belegen, dass eine Städtemaut die urbane Verkehrsüberlastung und ihre negativen Auswirkungen wirksam verringern kann, wurde dieses Instrument bisher nur in einer Handvoll europäischer Städte eingeführt. Auf Grundlage eines randomisierten Informationsexperiments, das in eine Umfrage in sieben europäischen Ländern eingebettet war, wird in dieser Studie empirisch untersucht, ob Informationen (i) über die Wirksamkeit und (ii) über a-posteriori Akzeptanz von bereits eingeführten Städtemauten die Unterstützung für eine solche Maßnahme beeinflussen können. Die Ergebnisse zeigen, dass die gegebenen Informationen die Akzeptanz unter den Befragten im Durchschnitt um 9, 3 % bzw. 7, 1 % erhöhen. Darüber hinaus ist die Akzeptanz in den einzelnen Ländern zwar unterschiedlich, aber die Zuweisung eines konkreten Preisniveaus für die Gebühr erhöht die Akzeptanz in allen Ländern bei niedrigen Gebühren und senkt sie bei hohen Gebühren. Auf der Grundlage dieser Ergebnisse kommen wir zu dem Schluss, dass Informationskampagnen über Staugebühren und ihre Vorteile für Pendler und Stadtbewohner wesentlich sind, um die öffentliche Unterstützung für dieses selten eingesetzte aber effektive verkehrspolitische Instrument zu fördern. |
| Keywords: | Acceptability, congestion charge, public support, road pricing |
| JEL: | R48 C25 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:rwirep:315484 |
| By: | World Bank Group |
| Keywords: | Environment-Adaptation to Climate Change |
| Date: | 2023–05 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:40024 |
| By: | Xu, Mohan; Tang, Yao |
| Abstract: | In the current study, we document a steady rise in the share of renewable energy projects in China's outward direct investment (ODI) in the energy sector. We examine the driving forces and find that both host country's environmental regulation and financial factors has generated different or even opposite effects on China's ODI in fossil fuels and renewable energy. Specifically, China's ODI in fossil fuels is positively correlated with endowments in fossil fuels, electricity consumption, low financing costs, and high exchange rate volatility. In comparison, ODI in renewable energy is more likely to occur in host countries with stricter environmental regulation and less likely to be impeded by tighter monetary policy. The results suggest that the combination of regulatory policies and financing conditions can have an important influence in the global transition to renewable energy. |
| Keywords: | direct investment, fossil fuels, renewable energy, environmental regulation, monetary policy, exchange rate volatility |
| JEL: | E43 F21 Q40 |
| Date: | 2025–04–02 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:124270 |
| By: | Agarwal, Swati; Fitch-Polse, Dillon T |
| Abstract: | This project reviews and summarizes empirical evidence for a selection of transportation and land use policies, infrastructure investments, demand management programs, and pricing policies for reducing vehicle miles traveled (VMT) and greenhouse gas (GHG) emissions. The project explicitly considers social equity (fairness that accounts for differences in opportunity) and justice (equity of social systems) for the strategies and their outcomes. Each brief identifies the best available evidence in the peer-reviewed academic literature and has detailed discussions of study selection and methodological issues.VMT and GHG emissions reduction is shown by effect size, defined as the amount of change in VMT (or other measures of travel behavior) per unit of the strategy, e.g., a unit increase in density. Effect sizes can be used to predict the outcome of a proposed policy or strategy. They can be in absolute terms (e.g., VMT reduced), but are more commonly in relative terms (e.g., percent VMT reduced). Relative effect sizes are often reported as the percent change in the outcome divided by the percent change in the strategy, also called an elasticity. |
| Keywords: | Engineering, Social and Behavioral Sciences |
| Date: | 2025–04–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt1091n164 |
| By: | World Bank |
| Keywords: | Environment-Climate Change and Environment Environment-Adaptation to Climate Change Macroeconomics and Economic Growth-Economic Growth |
| Date: | 2023–03 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:39588 |
| By: | Audi, Marc; Ahmad, Muhammad Bilal; Ahmad, Khalil; Poulin, Marc; Ali, Amjad |
| Abstract: | This study investigates how various facets of globalization directly affect CO₂ emissions under the widely recognized Environmental Kuznets Curve (EKC) framework, utilizing panel data from a broad cross-section of countries. By incorporating economic, political, and social globalization indices alongside macroeconomic variables (GDP per capita, GDP growth, and manufacturing value added), this analysis furnishes a more holistic perspective on the overall globalization–environment nexus. The empirical strategy employs panel unit root tests to evaluate stationarity, followed by ordinary least squares and random effects to secure robust coefficient stability and extended-run insights. The findings validate an inverted U-shaped link between GDP per capita and CO₂ emissions, suggesting that while emissions initially climb with income in early development, they eventually decrease at higher income tiers, in line with the EKC hypothesis. Economic globalization typically shows a positive, albeit occasionally model-sensitive, association with emissions, implying that expanded trade and cross-border production can boost carbon output, particularly when technological or regulatory standards remain weak. In contrast, political and social globalization display weak or negligible direct impacts on CO₂ emissions, implying that diplomatic ties and cultural interactions alone may not fully suffice to curb pollution without complementary environmental measures. Interestingly, expansions in manufacturing value added often align with reduced emissions, underscoring the possible influence of cleaner industrial processes and efficiency improvements. These findings underscore the importance of policy initiatives that reconcile the benefits of global economic integration with rigorous environmental governance. Sustaining inclusive economic progress while mitigating environmental harm relies on constructing stronger institutional frameworks, leveraging targeted technological advances in manufacturing, and fostering global cooperation on emissions criteria. |
| Keywords: | EKC, Economic Globalization, Political Globalization, Social Globalization |
| JEL: | F60 F62 F64 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:124294 |
| By: | Xu, Tao Louie |
| Abstract: | The multi-staged impact of the high-speed railway site-specific complementary policymaking on urban industrialisation remains subject to controversy. This preliminary report examines whether HSR new town planning constrains urban industrialisation with electricity consumption as a proxy for industrial activities. Employing the data of cities in the Yangtze Delta region and the DiD approach, the preliminary regressions estimate the effect of HSR new town policy on urban electricity usage. Our findings indicate a 15% to 20% significant decline in electricity consumption in cities with arranged HSR new town developments, particularly in smaller cities. The preliminary report challenges the assumption that HSR infrastructure inherently facilitates urban growth and calls for more attention to mitigating the negative externalities of transport infrastructure. |
| Keywords: | high-speed railway; new town planning; urban industrialisation; electricity consumption |
| JEL: | O2 R4 Y2 Y6 |
| Date: | 2025–03–01 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:124235 |
| By: | Tschiedel, Christian; Feiter, Tim; Kock, Alexander |
| Abstract: | This article presents an in-depth case study on cross-sectoral collaborative business model development (CBMD) that is pressured to produce systemic sustainability transformations. Drawing on paradox theory, we identify three paradoxical tensions—value, creativity, and consumer tensions. While engaging these tensions offers synergy and creativity potential, engagement barriers limit stakeholders’ ability to harness this potential. Stakeholder networks can access synergy potential by engaging meso-level tensions through increased trust and collaboration. Yet, macro-level engagement barriers posed by governments and society lead to a reliance on incumbent patterns and reduce creativity. This research advocates for reconsidering CBMD processes and regulatory frameworks to enable engagement with these paradoxical tensions. Our implications offer insights for industries transitioning from centralized models to more individualized, decentralized approaches. The findings underscore the necessity of promoting reciprocal interactions and engagement across different levels and the early integration and strategic orchestration of stakeholders to cultivate trust and align objectives. |
| Date: | 2025–03–24 |
| URL: | https://d.repec.org/n?u=RePEc:dar:wpaper:153722 |
| By: | Bianchetti, Luca |
| Abstract: | La economía mundial se apoya en el uso predominante de combustibles fósiles, generando degradación ambiental a través de emisiones constantes de Gases Efecto Invernadero (GEI), agravando el cambio climático. Este estudio aborda la transición energética en Argentina desde una perspectiva integral basada en el desarrollo sostenible. La falta de un enfoque holístico dificulta la toma de decisiones y análisis de políticas. Esta investigación aborda esta brecha y produce una contribución metodológica, proponiendo y compilando una base de datos inédita para analizar la transición energética en Argentina. La misma se encuentra estructurada a partir de cuatro dimensiones clave: seguridad energética, sostenibilidad ambiental, ciudadanía y democracia y justicia. A tal fin, el estudio evalúa la disponibilidad y calidad de la información disponible y luego logra su integración. En segundo lugar, realiza un aporte de tipo empírico, proponiendo una caracterización de la evolución de la transición energética en Argentina desde el enfoque del desarrollo sostenible. Los hallazgos muestran que la seguridad energética presenta desafíos mixtos, la sostenibilidad ambiental presenta una evolución favorable y encaminada, la democracia y ciudadanía plantea incertidumbres, mientras que la dimensión de justicia muestra una mejora constante. |
| Keywords: | Transición Energética; Desarrollo Sostenible; Deterioro Ambiental; Argentina; 1960-2021; |
| Date: | 2023–12–21 |
| URL: | https://d.repec.org/n?u=RePEc:nmp:nuland:4263 |
| By: | Marina Albanese; Guglielmo Maria Caporale; Ida Colella; Nicola Spagnolo |
| Abstract: | This paper examines the effects of climate policies and energy shocks on mean and volatility spillovers between green and brown stock price indices in five countries (Canada, India, Japan, the UK and the US). More specifically, bivariate GARCH-BEKK models including dummy variables controlling for these shocks are estimated using weekly series with start dates ranging from 13 March 2009 to 24 August 2012 (depending on data availability for the green index) and an end date of 29 December 2023. Significant dynamic linkages between green and brown indices are found when climate policy and oil shocks are considered jointly. Some common patterns emerge, such as shifts in spillover dynamics between green and brown assets, but also country-specific effects of the climate policy shocks which reflect differences in regulatory frameworks and policies. By contrast, energy shocks tend to have a more uniform impact. Further, the interaction between climate policy and energy shocks weakens cross-market linkages, enhancing portfolio diversification opportunities for green investors. The conditional correlation analysis confirms this finding, suggesting that green stocks can be used as an effective hedge. These results highlight the benefits of incorporating green assets into diversified portfolios, particularly in financial centers where, in recent years, they have offered higher returns and lower volatility. |
| Keywords: | brown stocks, green stocks, VAR, GARCH-BEKK, climate policy shocks, energy shocks, spillovers |
| JEL: | C33 G12 G18 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11747 |
| By: | Bianchetti, Luca; Lacaze, María Victoria; Catelén, Ana Laura |
| Abstract: | El presente estudio examina la disponibilidad y calidad de la información necesaria, a partir de un marco conceptual multidimensional diseñado para el Sur Global, para monitorear la transición energética en Argentina. A partir de un arqueo de fuentes, datos y variables disponibles, se identificaron deficiencias en la generación y sistematización de la información requerida, destacando particularmente la falta de datos en la denominada dimensión de democracia y ciudadanía. La investigación pone en evidencia la existencia de desafíos significativos, en el contexto argentino y materia de generación de información, para el desarrollo de políticas energéticas efectivas. |
| Keywords: | Economía de la Energía; Transición Energética; Desarrollo Sostenible; Energías Renovables; Argentina; |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:nmp:nuland:4273 |
| By: | Matej Opatrny (Charles University Environment Centre, Institute of Economics Studies); Milan Scasny (Charles University Environment Centre, Institute of Economics Studies) |
| Abstract: | This paper introduces a novel composite energy poverty indicator, the M2LIHC, which combines elements of the twice-median expenditure share (2M) and Low Income High Cost (LIHC) measures. Using a unique dataset merging the Czech Household Budget Survey and EU-SILC data from 2017-2022, we demonstrate how this hybrid approach provides new insights into energy poverty dynamics. The M2LIHC indicator addresses key limitations of existing metrics, avoiding the LIHC measure´s counterintuitive response to income changes in the lowest decile and mitigating the 2M indicator´s potential overestimation of energy poverty among higher-income households with high energy costs. Our comparative analysis reveals significant differences in energy poverty rates and household characteristics identified by each indicator. The M2LIHC measure proves more robust to income fluctuations than LIHC while maintaining sensitivity to both income and energy cost components. We find energy poverty in the Czech Republic has increased across all indicators from 2017 to 2022, with the M2LIHC indicator suggesting a rise from 8.9% to 13.5%. To further validate our approach, we employ the DASMOD (Distributional And Social Impact Model) to simulate various energy and climate policy scenarios. These simulations demonstrate the complex effects of compensation policies on energy poverty measures, with M2LIHC providing a more nuanced view of policy impacts. By providing a more comprehensive and theoretically consistent measure of energy poverty, coupled with policy simulation capabilities, the M2LIHC indicator offers policymakers an improved tool for targeting support and assessing the effectiveness of energy poverty alleviation strategies in the context of energy transitions and climate policies. |
| Keywords: | Energy poverty, LIHC indicator, M2/LIHC Indicator |
| JEL: | D12 D14 D63 |
| Date: | 2025–04 |
| URL: | https://d.repec.org/n?u=RePEc:fau:wpaper:wp2025_06 |
| By: | Marc Gronwald; Sania Wadud |
| Abstract: | This paper explores the relationship between green bond markets and both green and conventional financial markets, while also evaluating their effectiveness as a climate finance instrument. Using the Thick Pen Measure of Association — a visually interpretable tool for analysing co-movement across different time scales — we identify several key findings. First, the relationship between green bonds and other markets evolves over time, influenced by major events such as COVID-19, the Ukraine war, and earlier structural changes. Second, green bonds show the strongest co-movement with benchmark bond markets, indicating they are driven by similar fundamental factors. In contrast, their connection to stock markets is weaker and, in some cases, declining, reinforcing their potential as a diversification tool. However, short-term movements in the green bond market remain closely linked to the long-term stock market environment, particularly during periods of market stress. |
| Keywords: | green bonds, financial markets, co-movement, Thick Pen Measure of Association, data science |
| JEL: | C14 C32 C46 G12 Q56 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11773 |
| By: | Marion Leroutier; Hélène Ollivier |
| Abstract: | This paper shows that even moderate air pollution levels, such as those in Europe, harm the economy by reducing firm performance. Using monthly firm-level data from France, we estimate the causal impact of fine particulate matter (PM2.5) on sales and worker absenteeism. Leveraging exogenous pollution shocks from local wind direction changes, we find that a 10 percent increase in monthly PM2.5 exposure reduces firm sales by 0.4 percent on average over the next two months, with sector-specific variation. Simultaneously, sick leave rises by 1 percent. However, this labor supply reduction explains only a small part of the sales decline. Our evidence suggests that air pollution also reduces worker productivity and dampens local demand. Aligning air quality with WHO guidelines would yield economic benefits on par with the costs of regulation or the health benefits from reduced mortality. |
| Keywords: | cost of air pollution, absenteeism, firm performance. |
| JEL: | Q53 H23 I10 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11785 |
| By: | Ali Ahmad; Thanh Thi Thanh Bui; Mohammed Qaradaghi; Wael Mansour |
| Keywords: | Energy-Energy and Environment Energy-Renewable Energy |
| Date: | 2023–03 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:39608 |
| By: | Olimpia Cutinelli-Rendina; Sonja Dobkowitz; Antoine Mayerowitz |
| Abstract: | How do firms respond to greener household preferences? We construct a novel index of environmental willingness to act on the state-quarter level based on Google Trends search data. Relating the index to firm-level information on the U.S. auto- motive sector from 2006 to 2019, we find ambiguous results. On average, firms innovate more in electric, hydrogen, and hybrid (clean) technologies and reduce combustion engine-related (dirty) innovation over time. However, firms also increase anti-environmental lobbying expenditures. We show that firms with a dirtier product portfolio tend to lobby more against stricter environmental regulation but also reduce R&D investment in dirty technologies to a greater extent. Firms’ reactions to greener household preferences are stronger and more persistent than responses to higher fuel prices. Moreover, greener preferences have the additional effect of lowering innovation in dirty technologies. We interpret these results as evidence that shifts in household preferences are highly effective in promoting a market-based green transition. However, they also imply more anti-environmental lobbying, thereby complicating environmental policymaking. |
| Keywords: | Green Household Preferences, Directed Technical Change, Environmental Lobbying |
| JEL: | D9 D70 O3 P28 Q55 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:diw:diwwpp:dp2115 |
| By: | Audi, Marc; Poulin, Marc; Ahmad, Khalil; Ali, Amjad |
| Abstract: | This study investigates the interplay between oil price variations and stock market performance in Europe over the period 1991–2023. By analysing Europe as a cohesive economic entity, the research provides a unified view of how trends in energy markets and broader macroeconomic factors affect equity outcomes. The methodology combines ordinary least squares and quantile regression to robustly capture average impacts and variations across different segments of stock returns. Findings reveal that rising oil prices typically exert downward pressure on European equities by increasing production costs in petroleum-reliant industries. However, abrupt oil price shifts have nuanced effects: some segments exhibit heightened sensitivity, while others remain resilient, suggesting that adaptive industries may fare better than energy-intensive ones. Additionally, strong economic growth often intensifies fears of inflation, interest rate hikes, and market overheating, creating a negative association with stock performance. Inflation challenges equities, with higher-performing stocks especially vulnerable to price increases. The shift toward renewable energy appears to have short-term adverse effects, largely due to capital redistribution and transitional hurdles affecting traditional energy sectors. These results offer guidance for stakeholders. It underscores the need to align energy strategies with equity markets. Policymakers can enhance market resilience by addressing oil price volatility through transparency and risk mitigation, and by clearly communicating monetary policies to reduce inflation-induced uncertainty. While accelerating renewable adoption is vital for sustainability, careful management is needed to minimize disruptions to established sectors. Firms should hedge against energy price risks and invest in cleaner technologies to remain competitive in a changing landscape. |
| Keywords: | Stock Market Performance, Oil Price Shocks, Inflation, Renewable Energy Consumption |
| JEL: | E31 G10 Q20 Q41 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:124295 |
| By: | Shahzad, Qaisar; Aruga, Kentaka |
| Abstract: | This study addresses the critical issue of climate change awareness in Pakistan by evaluating the Pakistani citizens’ willingness to adopt energy reforms to reduce CO2 emissions. Using best-worst scaling, we examined five key attributes important for reforming the Pakistan energy policy: CO2 emission reduction, energy independence, employment impact, transition time, and changes in energy price. The findings reveal a strong preference for reducing CO2 emissions, enhancing energy independence, increasing employment, and accelerating policy implementation. Meanwhile, Pakistan residents revealed concerns about potential increases in energy bills. The analysis showed that male, urban, educated, full-time employed, middle-aged (35-44), married individuals with children, high-income, and environmentally conscious respondents were more willing to trade-off for CO2 reduction. In contrast, apprehension about potential job losses and higher energy bills was prevalent across all subgroups. The study recommends diversifying energy sources, including nuclear and hydro-energy, as a strategic approach to balance environmental goals with economic stability in Pakistan. These insights into public energy policy preferences can inform policymakers and researchers in similar developing countries of sustainable energy strategies. |
| Keywords: | CO2 emission, Unemployment, Trade-off, Energy reform |
| JEL: | Q4 Q48 Q56 |
| Date: | 2025–02–11 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:124042 |
| By: | Amayed, Yasser |
| Abstract: | Résumé : Cet article examine l’impact de la digitalisation, des recettes fiscales environnementales et des capacités énergétiques sur la qualité environnementale en Afrique du Nord, en se concentrant sur l’Égypte, le Maroc et la Tunisie. En s’appuyant sur la courbe environnementale de Kuznets, l’étude intègre l’essor des technologies de l’information et de la communication (TIC) et la fiscalité verte pour analyser leur influence sur la relation entre croissance économique et dégradation environnementale. À l’aide d’un modèle CS-ARDL, l’analyse distingue les effets à court et long terme. Les résultats montrent qu’une hausse du PIB entraîne d’abord une augmentation des émissions de gaz à effet de serre. Toutefois, au-delà d’un seuil critique, la fiscalité environnementale et l’amélioration des infrastructures énergétiques et numériques réduisent progressivement ces émissions. Ces résultats soulignent que la transformation numérique, combinée à une fiscalité verte efficace et aux technologies émergentes (IA, IoT, réalité augmentée et virtuelle), constitue un levier stratégique pour atténuer l’impact environnemental d’une croissance soutenue en Afrique du Nord. |
| Abstract: | The present article examines the impact of digitization, environmental tax revenues and energy capacity on environmental quality in North Africa, focusing on Egypt, Morocco and Tunisia. Utilising the Kuznets environmental curve, the study integrates the rise of information and communication technologies (ICT) and green taxation to analyse their influence on the relationship between economic growth and environmental degradation. Utilising a CS-ARDL model, the analysis differentiates between short- and long-term effects. The study's findings indicate that an augmentation in Gross Domestic Product (GDP) is associated with an initial escalation in greenhouse gas emissions. However, beyond a critical threshold, the implementation of environmental taxation, coupled with the advancement of energy and digital infrastructures, leads to a gradual decline in these emissions. The findings emphasise that digital transformation, in conjunction with effective green taxation and emerging technologies (AI, IoT, augmented and virtual reality), can serve as a strategic lever for mitigating the environmental impact of sustained growth in North Africa. |
| Keywords: | Mots-clés : Digitalisation, fiscalité verte, capacités énergétiques, qualité environnementale, Afrique du Nord, CS‑ARDL; Digitalization, green taxation, energy capacity, environmental quality, North Africa, CS-ARDL |
| JEL: | Q5 |
| Date: | 2025–03–26 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:124127 |
| By: | Balogun, Emmanuel Dele |
| Abstract: | This article critically examines the transformative potential of technological innovation in revitalizing Nigeria’s manufacturing sector, a cornerstone of the nation’s economic diversification agenda amid declining oil revenues and persistent macroeconomic instability. Through a mixed-methods approach—combining empirical data analysis, sectoral case studies, and policy reviews—the study explores how emerging technologies such as automation, artificial intelligence (AI), blockchain, and renewable energy systems are reshaping production processes, supply chains, and market competitiveness. Despite contributing only 9.2% to GDP and operating at 56.5% capacity utilization, the sector remains pivotal to employment, contributing 11.3% of formal jobs and serving as a conduit for import substitution. The analysis identifies infrastructural deficits, particularly erratic electricity supply and logistical inefficiencies, as primary barriers to technology adoption, costing manufacturers 40% of operational expenses. However, pioneering firms like Dangote Cement, Nestlé Nigeria, and SMEs such as ReelFruit demonstrate that strategic investments in robotics, IoT-enabled predictive maintenance, and digital supply chain platforms can reduce costs by 15–30%, enhance productivity, and unlock access to regional markets under the African Continental Free Trade Area (AfCFTA). The study further highlights the critical role of policy incoherence, skill gaps, and financing constraints—such as prohibitive loan rates (18–30%)—in slowing scalability, particularly for SMEs that constitute 85% of the sector. The article argues that Nigeria’s demographic dividend—a youth population projected to reach 400 million by 2050—presents a dual challenge and opportunity: without urgent upskilling in STEM and vocational training, unemployment will escalate, but a tech-savvy workforce could drive leapfrogging into Industry 4.0. Cross-case insights reveal that renewable energy integration (e.g., solar microgrids) and cybersecurity frameworks are essential to sustainable growth, while gender-inclusive policies could expand women’s participation beyond the current 22%. Policy recommendations include establishing a $500 million Tech Innovation Fund for SMEs, harmonizing regulatory approvals through a single-window portal, and aligning the National Digital Economy Strategy with AfCFTA’s objectives. The study concludes that Nigeria’s manufacturing future hinges on a coordinated ecosystem of public-private partnerships, targeted infrastructure investments, and agile policy reforms. Failure to act risks entrenching dependency on oil imports and informal markets, while decisive action could position Nigeria as Africa’s hub for green, tech-driven industrialization by 2030. |
| Keywords: | Technological Innovation, Industry 4.0, Sustainable Manufacturing, AfCFTA, Economic Diversification, Nigeria |
| JEL: | O33 O4 |
| Date: | 2025–04–07 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:124292 |