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on Energy Economics |
| By: | Peng, Guanglei; Cao, Yang |
| Abstract: | The confusion of concepts has been present in the emerging propositions of the energy sector. In the research, we sort through the concepts of new energy, green energy, clean energy, recyclable energy, recycled energy, and renewable energy in order to clarify the concepts in terms of the basic scientific understandings in the context of primary energy (PE) production. We further categorize the emerging PE trends by their basic properties, i.e., sources from phosphates, geo-oscillation, and biosynthesis, so as to evaluate the strengths and weaknesses in PE production. |
| Keywords: | bioenergy; energy strategy; new energy; phosphorylation; oscillation. |
| JEL: | Q01 Q20 Q30 Q40 Q50 Q55 |
| Date: | 2024–02–22 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:124960 |
| By: | Broadstock, David C.; Fouquet, Roger; Kim, Jeong Won |
| Abstract: | This paper assesses the relationship between carbon prices and the financial value of United Kingdom companies. It shows that the financial market co-moves with the UK-ETS at least as much as it does with other major energy commodities (i.e., oil, gas and electricity prices), and carbon prices are becoming the single most important energy or environmental variable to consider in determining corporate value. The results indicate that 14.1 % of total market capitalisation is exposed to carbon pricing ‘risk’, 20 % or more of the time. The Energy sector has the largest exposure with £251bn (41.51 % of this sector) exposed at least 20 % of the time. This is equivalent to one-twelfth of the economy’s GDP. Within the Energy sector, 13.5 % of all observations indicate net-positive relationship between carbon pricing and stock returns - these are likely to be associated with low carbon energy sources and technologies. The Financial sector is the second most affected sector with £117bn exposed to carbon pricing at least 20 % of the time. Finally, it is shown that information on ‘carbon sensitivity’ can be utilised to construct investment portfolios wherein carbon sensitive stocks under-perform against the market, while carbon insensitive (‘immune’) stocks closely track market benchmarks, depending on investment weighting strategy. |
| Keywords: | empirical asset pricing; emissions trading scheme; carbon prices; energy prices; dynamic model averaging |
| JEL: | J1 |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:128928 |
| By: | Sul-Ki Lee (Korea Institute for Industrial Economics and Trade) |
| Abstract: | Addressing climate change and achieving a sustainable energy transition have emerged as two of the most urgent global challenges of the 21st century. In pursuit of net-zero targets, countries around the world are accelerating their deployment of renewable energy. Among these, offshore wind power has gained growing recognition as a strategic pillar of the global energy mix. Compared to onshore wind, offshore wind offers greater generation efficiency, has fewer environmental constraints, and is more conducive to large-scale project development.<p> South Korea has also underscored renewable energy expansion as a key pillar of its 2050 carbon neutrality strategy. In its 10th Basic Plan for Electricity Supply and Demand, the government set a target of installing 14.3 gigawatts (GW) of offshore wind capacity by 2030 and has introduced a range of policies and support measures to facilitate this goal.<p> Nevertheless, Korea’s offshore wind market and industry remain in an early stage of development. Structural challenges persist, including a high dependence on foreign-made equipment and weak competitiveness in the domestic supply chain. |
| Keywords: | alternative energy; renewable energy; green energy; wind power; wind energy; offshore wind; floating |
| JEL: | Q42 Q48 Q55 |
| Date: | 2025–05–31 |
| URL: | https://d.repec.org/n?u=RePEc:ris:kieter:021419 |
| By: | Rausch, Sebastian; Kalmey, Tim |
| Abstract: | Many governments still help to keep fossil fuels cheap - sometimes by directly paying part of the supply cost (explicit subsidies), and at other times by not including the hidden costs of pollution and health problems they cause in their price (implicit subsidies). But what is the true cost to us? Would it be a good idea for countries to discontinue these subsidies and ensure that fossil fuel prices reflect the full impact of using these energies? And to what extent would this help countries to achieve their climate targets under the Paris Agreement? We study these questions across a broad range of countries by combining economic modelling with detailed data on fossil fuel subsidies, external costs of fossil fuels and national income and product accounts. We find that a unilateral elimination of explicit and implicit subsidies on fossil fuels would improve public finances in most countries, raise more fiscal revenues for governments and considerably reduce CO2 emissions. About one third of countries would already meet their climate targets in this scenario, making additional policies like carbon pricing redundant. Eliminating all direct fossil fuel subsidies worldwide would have only a limited effect in curbing global emissions. However, addressing the hidden costs of fossil fuel use - by "getting energy prices right" - could reduce global carbon emissions by one third, while simultaneously increasing both global and country-level welfare. Our findings highlight that economic, fiscal and climate targets can, in principle, be aligned. |
| Keywords: | Fossil energy, subsidy, energy price, energy policy, greenhouse gas emissions |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:zewpbs:321912 |
| By: | Matthew Kotchen; Giovanni Maggi |
| Abstract: | We examine positive and normative questions that arise with the joint use of carbon taxes and green subsidies in an open economy. Moving from autarky to free trade induces countries to introduce green subsidies and reduce carbon taxes, in order to reduce foreign emissions. In contrast to the “leakage” effect of carbon taxes, green subsidies are associated with “reverse leakage, ” as they decrease emissions both at home and abroad, and as a consequence, the availability of green subsidies tends to be good for global welfare. International climate agreements (ICAs) seek to increase carbon taxes, but the effect on green subsidies is more nuanced. An ICA removes green subsidies, even though they exert positive international externalities at the noncooperative equilibrium. If, however, policies can only be changed gradually, an ICA may start by increasing subsidies before decreasing them over time. We also consider the welfare implications of lobbying from the fossil and green energy sectors. In a noncooperative setting, we find that pressures from the fossil lobby tend to reduce welfare, whereas pressures from the green lobby tend to increase welfare. We also find that in the presence of lobbying, an ICA can decrease welfare relative to the noncooperative equilibrium, even if it changes carbon taxes and green subsidies toward their efficient levels. |
| JEL: | F18 H2 Q48 Q5 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:34080 |
| By: | Bezemer, Dirk; Stumphius, Chris (University of Groningen) |
| Abstract: | Financial development supports productive investment, but financialization may undermine it. We extend this insight to the energy transition, where sustainable finance is hoped to reduce emissions, but must do soin a financialized credit system and corporate environment. We analyze the green bond market in a global sample of 147 corporates across 10 industries over 2010-2020. In a matched-firm analysis we examine the effect of green bond issuance on a firm’s environmental performance post-issuance in terms of greenhouse gas emissions and energy intensity. Different from earlier findings, green-bond issuers in this sample do not significantly improve their environmental performance post-issuance, neither in the full sample nor within industries. There are large differences between industries which suggest entry points to improve the effectiveness of green bonds. |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:gro:rugfeb:2024004-gem |
| By: | Karen Clay; Akshaya Jha; Joshua A. Lewis; Edson R. Severnini |
| Abstract: | This paper documents the evolution of US carbon emissions and discusses the main factors that contributed to the historical carbon emissions rollercoaster. We divide the discussion into four periods – up to 1920, 1920-1960, 1960-2005 and after 2005. For each period, we discuss the main drivers of national carbon emissions. We then discuss trends in carbon emissions in the electricity sector. Electricity sector emissions were initially very small, but would become the largest source of US carbon emissions over the period 1980-2015, and the largest contributor to decarbonization since 2007. In the final section, we distill lessons from the U.S. experience that may inform decarbonization strategies in developing economies. |
| JEL: | N72 Q31 Q48 Q54 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:33983 |
| By: | Franziska Klaucke; Karsten Neuhoff; Alexander Roth; Wolf-Peter Schill; Leon Stolle |
| Abstract: | To ensure security of supply in the power sector, many countries are already using or discussing the introduction of capacity mechanisms. Two main types of such mechanisms include capacity markets and capacity reserves. Simultaneously, the expansion of variable renewable energy sources increases the need for power sector flexibility, for which there are promising yet often under-utilized options on the demand side. In this paper, we analyze how a centralized capacity market and an advanced reliability reserve with a moder- ately high activation price affect investments in demand-side flexibility technologies. We do so for a German case study of 2030, using an open-source capacity expansion model and incorporating detailed demand-side flexibility potentials across industry, process heat, and district heating. We show that a centralized capacity market effectively caps peak prices in the wholesale electricity market and thus reduces incentives for investments in demand-side flexibility options. The advanced reliability reserve induces substantially higher flexibility investments while leading to similar overall electricity supply costs and ensuring a similar level of security of supply. The advanced reliability reserve could thus create a learning environment for flexibility technologies to support the transition to climate neutral energy systems. Additionally, an advanced reliability reserve could be introduced faster and is more flexible than a centralized capacity market. While concrete design parameters are yet to be specified, we argue that policymakers should consider the reliability reserve concept in upcoming decision on capacity mechanisms in Germany and beyond. |
| Keywords: | Capacity mechanisms, strategic reserve, capacity market, power sector modeling, demand-side flexibility, demand response, security of supply |
| JEL: | C61 D47 Q41 Q48 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:diw:diwwpp:dp2127 |
| By: | Lin, Rui; Wang, Peggy |
| Abstract: | Climate change in California could greatly impact the state’s economy, nature, and public health. One strategy to reduce fuel consumption and greenhouse gas emissions from the transportation sector is eco-driving. Eco-driving is a set of behaviors or driving styles that encourage fuel-efficient driving that could help minimize energy consumption anywhere from five to 30 percent. With the advance of connected-vehicle technologies, the dynamic eco-driving concept uses real-time vehicle-specific information to optimize vehicle speed and reduce fuel consumption and emissions. |
| Keywords: | Engineering |
| Date: | 2025–07–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsrrp:qt0kv2t239 |
| By: | Arvanitopoulos, Theodoros; Wilson, Charlie; Morton, Craig |
| Abstract: | Air source heat pumps are the principal means of decarbonising residential heating. What drives local uptake of heat pumps? We present and examine a unique, highly disaggregated, spatial-temporal dataset for heat pump diffusion across Great Britain at the local authority level from 2010 to 2020. We find average total installed cost of 1075 £/kW and a negative learning rate of −3.3 %, with most installations in owner-occupied houses. Using spatial econometric models, we investigate how local conditions drive heat pump installations. We find early adopting local areas tend to be rural, off the gas grid, with prior use of solid fuel or oil for heating, and participate in renewable and community energy projects. Early adopting areas benefit from a combination of more readily accessible properties, low-carbon energy skills, and local supply chains. We find robust evidence of spatial spillover effects that show early adopting areas serve as deployment test beds, indirectly stimulating deployment in contiguous areas. We reason that spatial spillovers are driven by installer availability and local supply chains materialised around installation activity. We estimate for every three heat pumps installed, one heat pump is subsequently installed in a neighbouring local authority with less advantageous conditions. This implies an important policy trade-off for low-carbon heat between maximising effectiveness (incentivise early adopters) and widening equality of access (support later adopters). Concerted policy action to tackle fragmented supply chains and skills shortages which inflate installation costs of heat pumps relative to gas boilers is also urgently needed. |
| Keywords: | decarbonisation; residential heating; heat pumps; local conditions; spatial spillovers; spatial econometrics |
| JEL: | C31 Q40 R11 |
| Date: | 2025–11–30 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:128927 |
| By: | Andrew Burlinson (School of Economics, University of Sheffield, Sheffield S10 2TU, UK); Monica Giulietti (Nottingham University Business School, University of Nottingham and UK Energy Research Centre, UK); Michael Waterson (Department of Economics, University of Warwick, UK); Victor Ajayi (Energy Policy Research Centre, University of Cambridge, UK) |
| Abstract: | Two exogenous events, coupled with substantial data on household electricity and gas usage, enable us to examine detailed consumption effects of recent rises in energy prices in Britain resulting from the Russia-Ukraine conflict. We isolate two groups of consumers with similar characteristics, all initially on fixed price tariffs. One group, forcibly moved to variable price tariffs, suffered the price shock, the others remained on fixed price tariffs. Our difference-in-differences framework captures the impacts on the former group, finding significant negative consumption effects, particularly regarding gas usage. Differing effects across richer and poorer households are revealed, the poorest greatly reducing consumption. |
| Keywords: | Energy consumption, difference-in-differences, energy crisis, smart meters |
| JEL: | L94 E31 D12 I19 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:shf:wpaper:2025008 |
| By: | Olimpia Carradori (University of Zurich - Department of Finance; Swiss Finance Institute); Felix von Meyerinck (University of Zurich - Department of Finance); Zacharias Sautner (University of Zurich - Department of Finance; Swiss Finance Institute; European Corporate Governance Institute (ECGI)) |
| Abstract: | We study the determinants, structure, implementation, and effects of carbon underwriting policies among the world’s largest insurers. Adoption is more common among European insurers and less so among specialty and unlisted firms, with coal policies preceding those for oil and gas. Using novel mine-insurance data, we show that implementation is often incomplete, and some insurers expand coal coverage despite commitments. On average, insurers reduce the number of insured mines by 16%, insured coal volumes by 56%, and make continued coverage 13pp less likely. Affected mines are more likely to be abandoned and experience constrained operations. |
| Keywords: | Insurance underwriting, carbon emissions, climate change, insurance companies, coal mining |
| JEL: | G22 Q54 L71 L51 D22 |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:chf:rpseri:rp2558 |
| By: | Hataminia, Soheil; Mohammadzadeh Asl, Nazi |
| Abstract: | Iran faces a widening sustainability gap as biocapacity stagnates while the ecological footprint expands. This study investigates how external debt, economic growth, natural resource rents, and renewable energy consumption affect the national load capacity factor—a composite index of biocapacity relative to ecological demand. Annual data for 1995–2023 were compiled from the World Bank and the Global Footprint Network. After verifying integration orders with Augmented Dickey–Fuller tests and selecting an optimal lag length, Johansen cointegration confirmed the presence of a long-run equilibrium relationship. Long-run coefficients were then estimated using Fully Modified Ordinary Least Squares (FMOLS). Model adequacy was evaluated with Hansen and Park cointegration tests, Jarque–Bera normality, and Ljung–Box and ARCH diagnostics. FMOLS estimates revealed positive elasticities for external debt (0.12) and renewable energy consumption (0.11), indicating that prudent external financing and clean-energy expansion enhance Iran’s load capacity factor. Conversely, economic growth (–0.96) and natural resource rents (–0.12) exhibited negative elasticities, reflecting the resource-curse effect and the economy’s current position on the upward phase of the Environmental Kuznets Curve. Diagnostic tests detected no autocorrelation, heteroskedasticity, or coefficient instability. managed sovereign borrowing and accelerated investment in renewables can improve Iran’s environmental carrying capacity, provided that growth strategies become less resource-intensive and rent dependence diminishes. Policy measures should include carbon-linked fiscal rules, green load-capacity bonds, a natural-resource-rent stabilization fund, and an inflation-indexed carbon tax whose proceeds support renewable feed-in tariffs. |
| Keywords: | Ecological carrying capacity; Ecological footprint; External debt; Natural resource rent; Renewable energy consumption; Sustainable development; Iran |
| JEL: | O11 O13 O44 Q0 Q01 Q2 Q24 Q25 Q43 Q48 Q56 Q57 Q58 |
| Date: | 2025–07–30 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:125545 |
| By: | Argueyrolles, Robin; Heimann, Tobias; Delzeit, Ruth |
| Abstract: | Fossil fuel subsidy reform(s) support the deployment of low‐carbon technologies, yet fossil fuel subsidies remain stubbornly high, while money allocated by governments to renewable energy continues to grow. In the transport sector, this tension is observed between biofuels that still rely on national policies and gasoline/diesel subsidies. Using a global Computable General Equilibrium (CGE) model, we study how phasing out gasoline and diesel subsidies would impact global biofuel mandates. We find that where they are implemented, Fossil Fuel Subsidy Reforms increase biofuel competitiveness and lower the cost of achieving the mandates. The fiscal benefit is therefore twofold with savings on fossil and bio‐based energy subsidies. In a multilateral reform scenario, we simulate the rise in fiscal revenue from phasing out the fossil fuel subsidies to be 25% higher when the avoided spending on biofuels' support is accounted for. In the rest of the world, however, the biofuel targets become costlier to achieve as the price of fossil fuels drops. Considering that global biofuel 2030 targets are achieved, governments' support for biofuel falls by $6 billion in regions phasing gasoline and diesel subsidies but increases by $600 million in the rest of the world. |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:ifwkie:323486 |
| By: | Federico Colozza (UNIPV - Università degli Studi di Pavia [Italia] = University of Pavia [Italy] = Université de Pavie [Italie], ROMA TRE - Università degli Studi Roma Tre = Roma Tre University); Carlo Pietrobelli (UNU-MERIT - UNU-MERIT - United Nations University - Maastricht University, ROMA TRE - Università degli Studi Roma Tre = Roma Tre University); Antonio Vezzani (ROMA TRE - Università degli Studi Roma Tre = Roma Tre University, ESC [Rennes] - ESC Rennes School of Business) |
| Abstract: | In this paper we investigate the relationship between participation in global value chains and the environment from a spatial perspective. By drawing on an original dataset on global value chain participation, emissions of nitrogen oxides and sulphur oxides, and green patents for European regions, we present novel evidence about the relationship between global value chains, green technologies and air pollution at the regional level. Our findings suggest that although participation in global value chains may lead to lower polluting emissions, this effect largely depends on the capacity of regions to exploit the green knowledge deriving from participation and on the specific form of participation. When European regions are integrated with backward linkages (i.e., importing inputs to produce exports) they record lower levels of air pollution; conversely, participation through forward linkages (i.e., exporting inputs for other places' exports) leads to an increase in air pollution. Backward participation also come out to support the development of green technologies that mediate the effects of global value chains on the environment posited by the "Pollution Haven" hypothesis. Overall, the relationship between global value chains participation and air pollution will depend on the type of participation and on the capacity of territories to profit it for the development of green technologies. |
| Keywords: | Global value chains, Green technologies, Emissions, EU regions, Pollution haven hypothesis |
| Date: | 2024–02–13 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05136372 |
| By: | Oscar Jaulin; Andrey Ramos |
| Abstract: | This paper studies the macroeconomic effects of news about future technological advancements in the green sector. Utilizing the economic value of green patents granted to publicly listed companies in the U.S., we identify green technology news shocks via a convenient and meaningful rotation of the innovations from a Bayesian Vector Autorregresion Model (BVAR). These shocks are decomposed into two orthogonal components: i) a common technological component shared by both green and non-green innovation, that reproduces response patterns similar to those expected from a technology news shock with long-run impacts on productivity; and ii) an idiosyncratic component to green innovation inducing inflationary pressures and stock price reductions. The responses to the idiosyncratic component suggest the existence of a green transition news mechanism related to expectations of more rigorous carbon policies or stricter environmental standards in the future. The focus on green innovation deepens our understanding about the effect of technology-specific news shocks and provides information of practical importance for macroeconomic and environmental policies. |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2507.18386 |
| By: | Benini, Giacomo (Dept. of Business and Management Science, Norwegian School of Economics); Enstad, Erik (Dept. of Business and Management Science, Norwegian School of Economics); Mersha, Amare Alemaye (Dept. of Economics, University of Milan); Rossini, Luca (Dept. of Economics, University of Milan) |
| Abstract: | This study provides the first global, plant-level assessment of both technical and environmental efficiency in steel production using a novel micro-dataset covering 147 steel mills across 50 countries from 2019 to 2023. Applying a Stochastic Directional Distance Function, we estimate each plant’s distance to the production frontier and compute the shadow price of CO2e emissions. Our results reveal a robust negative correlation between inefficiency and marginal abatement cost: technically efficient electric arc furnace (EAF) mini-mills — particularly prevalent in North America — display low inefficiency scores (∼0.2) and face high marginal abatement costs (up to 13.4 USD/ton). Conversely, integrated plants in developing countries often operate inefficiently (scores up to ∼0.8) but can abate emissions at very low cost (∼0.4 USD/ton), with Europe positioned between these two extremes. Estimated shadow prices are consistently lower than prevailing carbon market rates, highlighting a systemic under-valuation of emissions in the absence of regulatory pressure. This underpricing, in turn, reflects the highly uneven technological and economic conditions across steel plants worldwide, reinforcing the need for climate policies that account for both efficiency levels and plant configurations, and that tailor interventions to the specific costs and capacities of decarbonization. |
| Keywords: | Environmental Efficiency; Shadow Price of Emissions; Steel Industry; Stochastic Directional Distance Function; Technical Efficiency |
| JEL: | Q50 |
| Date: | 2025–08–03 |
| URL: | https://d.repec.org/n?u=RePEc:hhs:nhhfms:2025_023 |
| By: | Lorenzo, Santiago; Gramkow, Camila; Ferrer, Jimy; Francisco, Carlos |
| Abstract: | Countries often count greater growth, economic development and the fight against poverty and inequality among their priorities, but they also face global challenges related to climate action and the Paris Agreement. In this regard, economic development plans should be aligned with emissions reduction and climate resilience objectives. This report presents an analysis of the extent to which elements of Paris Agreement climate commitments (focusing on nationally determined contributions) are represented in selected national green economic development plans of Group of 20 economies. Ultimately, the analysis seeks to contribute to a better understanding of how national green economic development plans can help to mobilize investments to deliver on nationally determined contributions. The report highlights that improving the alignment of such plans with nationally determined contributions and climate goals is essential to provide investors and development partners with greater clarity and certainty on how national plans and strategies can help to fulfil climate commitments under the Paris Agreement. |
| Date: | 2025–07–09 |
| URL: | https://d.repec.org/n?u=RePEc:ecr:col022:82026 |
| By: | Sara Dezalay (ESPOL-LAB - ESPOL-LAB - ESPOL - European School of Political and Social Sciences / École Européenne de Sciences Politiques et Sociales - ICL - Institut Catholique de Lille - UCL - Université catholique de Lille, IMAF - Institut des Mondes Africains - UP1 - Université Paris 1 Panthéon-Sorbonne - IRD - Institut de Recherche pour le Développement - EHESS - École des hautes études en sciences sociales - EPHE - École Pratique des Hautes Études - PSL - Université Paris Sciences et Lettres - AMU - Aix Marseille Université - CNRS - Centre National de la Recherche Scientifique, ESPOL - European School of Political and Social Sciences / École Européenne de Sciences Politiques et Sociales - ICL - Institut Catholique de Lille - UCL - Université catholique de Lille) |
| Abstract: | This paper asks: what does socio-legal enquiry tell us about one of the most pressing problems of our time— climate change? Can (and should) socio-legal enquiry provide a meaningful critique of the so-called green transition? Law's ubiquity in the ongoing phase of capitalism—from the predominance of private contracts in the regulation of relations between states and transnational corporations to the formidable growth of transnational dispute settlement mechanisms since the turn of the 1990s raises a challenge for socio-legal enquiry. Where do we put the cursor of law's empowering potential as opposed to its enabling role in reproducing patterns of inequality and domination? This challenge is complicated by the fact that the green transition is seemingly pitting the United States and Europe against two so-called peripheries—China as the powerhouse of the lithium-ion batteries used for electric cars and other devices of the transition away from carbon, and Africa, specifically the Democratic Republic of Congo, as the main reservoir of the critical minerals needed for "green" energy. Deploying a socio-legal enquiry on the relationship between law and the green transition from Africa is a way to unpack the entanglement between law, politics, and finance in the contemporary phase of capitalism. Building on the "global turn" in social sciences, this shifts the focus to law's entanglement as a repertoire of material and symbolic power and towards the interconnectedness of its deployment across scholarly and geographic scales. Considering the selective social, financial, material, and cultural globalisation fostered by global value chains helps account for the reproduction of the subaltern position of the African continent in the world economy. More broadly, this research agenda underscores how socio-legal enquiry can respond to the challenge of allowing for the possibility of studying the imperial factor over an extended period, including by tracking how imperial legacies and financialisation are shaping China's prominence in the current phase of capitalism. |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05118815 |
| By: | Delis, Manthos; Iosifidi, Maria |
| Abstract: | We develop a model of green lending to study its implications for monetary policy and environmental regulation. Banks finance firms’ brown and/or green projects. The costs of brown projects increase with rising regulatory stringency or when endogenous monetary policy affects the cost of funds. Both policies can elevate the equilibrium share of green lending, resulting in greener output. Our findings remain consistent when we introduce central banks with an explicit green objective (e.g., differential interest rates based on project type), forward-looking bank behavior, and adjustment costs. Additionally, we demonstrate the relative impacts of regulatory and monetary persistent regime changes. |
| Keywords: | Green lending; Green monetary policy; Environmental regulation |
| JEL: | E44 E52 G21 Q50 |
| Date: | 2025–06–25 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:125118 |
| By: | Vespignani, joaquin vespignani; Smyth, Russell; Saadaoui, Jamel |
| Abstract: | Copper and lithium are essential to the global energy transition, each playing distinct roles in enabling low-carbon technologies. However, their supply chains are highly vulnerable to geopolitical risks, posing a threat to the stability and resilience of future clean energy systems.This study proposes strategic stockpiling as a cost-effective instrument to mitigate supply disruptions due to geopolitical risks in copper and lithium supply chains. First, we develop and apply novel, stage-specific, measures of geopolitical risk for copper and lithium for each of the four key phases of their supply chain: proven reserves, extraction, refining and end-use consumption. Second, we construct forward-looking stockpiling scenarios for both minerals, grounded in projected demand under the International Energy Agency’s Announced Pledges (APS) and Net Zero Scenario (NZS) pathways. Our estimates indicate substantial supply shortfalls by 2040 when strategic stockpiling is incorporated. Specifically, we project the shortfall in lithium supply to increase by a factor of 7.8 under APS and 9.8 under NZS, while copper shortages are projected to grow by 4.6 and 6.1 times, respectively. We consider Artificial Intelligence (AI)-driven productivity gains and recycling as alternative ways to alleviate shortages in both copper and lithium markets. We show that while enhanced recycling can significantly contribute to closing the supply gap for copper, its impact remains limited in the case of lithium due to technological, geological, and geographical constraints. We conclude that AI-driven productivity gains are essential to close the supply gap for both critical minerals. |
| Keywords: | Critical Minerals; Copper; Lithium; Geopolitical Risk; Stockpiling |
| JEL: | E0 E00 E3 E32 |
| Date: | 2025–07–01 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:125317 |
| By: | Alessia Camplomi; Harald Fadinger; Chiara Forlati; Sabine Stillger; Ulrich J. Wagner |
| Abstract: | Carbon leakage undermines the effectiveness of unilateral carbon pricing. Taxes on import-embedded emissions, like the EU’s CBAM, prevent leakage but their product coverage is limited due to strong information asymmetries. We propose an alternative policy (LBAM) that sterilizes carbon leakage without requiring information on foreign carbon intensities. In a quantitative trade model, LBAM tariffs significantly improve over the EU’s CBAM in terms of global emissions and EU welfare. Importantly, LBAM avoids large welfare losses among EU trading partners that would result if CBAM were extended to all sectors. Combining LBAM tariffs with equivalent export subsidies reinforces these advantages. |
| Keywords: | Carbon leakage, Carbon Border Adjustment, C02 tax, Trade policy |
| JEL: | F13 F64 Q54 Q56 |
| Date: | 2024–01 |
| URL: | https://d.repec.org/n?u=RePEc:bon:boncrc:crctr224_2024_495v3 |
| By: | Blackman, Allen; Jeuland, Marc; Leguizamo, Emilio |
| Abstract: | The ability of countries in Latin America to achieve net zero greenhouse gas (GHG) emissions by mid-century, the target set by the Paris Agreement, will depend critically on citizen support. To gauge this support, we administered a contingent valuation survey to representative samples in seven of the regions leading GHG emitting countries and in the United States, which is used as a comparator. The survey elicits respondents willingness to pay (WTP) for achieving net zero by 2050 and uses a split sample design to test whether WTP is affected by the distribution of decarbonization costs across households. Our estimates of mean WTP in the Latin American study countries are on par both with our estimate for the United States, and with estimates from a recent CV study for China, Sweden, and the United States. However, among the Latin American study countries, mean WTPs for Argentina and Brazil are relatively low. We also find that the distribution of the costs of decarbonization across households does not have a clear effect on WTP and that the drivers of WTP for our Latin American study countries are similar to those the literature has identified in other regions. |
| Keywords: | Contingent Valuation;stated preference;Net Zero;Argentina;Brazil;Chile;Colombia;Ecuador;Mexico;Peru |
| JEL: | Q51 Q54 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:idb:brikps:14188 |
| By: | Francesco Giancaterini; Alain Hecq; Joann Jasiak; Aryan Manafi Neyazi |
| Abstract: | This paper introduces a new approach to detect bubbles based on mixed causal and noncausal processes and their tail process representation during explosive episodes. Departing from traditional definitions of bubbles as nonstationary and temporarily explosive processes, we adopt a perspective in which prices are viewed as following a strictly stationary process, with the bubble considered an intrinsic component of its non-linear dynamics. We illustrate our approach on the phenomenon referred to as the "green bubble" in the field of renewable energy investment. |
| Date: | 2025–05 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2505.14911 |
| By: | Qichun He (CEMA, Central University of Finance and Economics) |
| Abstract: | China's environmental pollution casts a shadow on its economic success. Concerning fiscal decentralization, China introduced the rule-based tax assignment systemin 1994. To avoid the structural change in underlying fiscal regimes, we use the provincial panel data during the period 1995-2010. We find that fiscal decentralization has no significant effect on environmental pollution as it is measured per capita emission of wastewater, waste gas or solid waste in system GMM (Generalized method of moments) estimation. Our results are robust when we use different measures of fiscal decentralization. We further find that fiscal decentralization has a significant, positive effect on pollution abatement spending and pollutant discharge fees, which indicates possible mechanisms for fiscal decentralization to help protect the environment |
| Keywords: | Fiscal decentralization, Environmental pollution, Pollution abatement spending, Pollutant discharge fees, Panel data |
| JEL: | H77 Q53 C23 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:cuf:wpaper:776 |
| By: | António Afonso; José Alves; Alessio Ferraro; Sofia Monteiro |
| Abstract: | This paper estimates the fiscal multipliers of green public spending using a linear Bayesian Panel VAR and a Smooth Transition VAR framework, with quarterly data for the period 1995Q1–2022Q4 for EU member states. We group EU member states based on similarities in debt trajectories and green spending intensity, forming three regional aggregates: Southern Europe, Eastern Europe, and Northern Europe. Our results show that green spending multipliers on GDP are generally below one, but the response of private investment is significantly stronger — particularly in Southern and Eastern Europe. Multipliers tend to be larger in periods of high public debt, suggesting that green fiscal expansions may be more effective during downturns. Another key finding is that in response to green spending shocks, both long-term interest rates and public debt tend to decline—especially in high-debt regimes—indicating improved market expectations about fiscal sustainability. In contrast, when we estimate the effects of a shock to total public spending net of green spending, we find that both interest rates and debt increase. This suggests that economic agents perceive green spending more favorably than undifferentiated fiscal expansions, likely due to its role in mitigating climate risks, lowering long-term energy costs, and signaling credible long-term policy commitments. |
| Keywords: | green fiscal multipliers; debt trajectories; interest rates; Bayesian Panel Vector Autoregression (BVAR). |
| JEL: | C23 E44 E62 G15 H62 H63 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:ise:remwps:wp03892025 |
| By: | Jiayin Hu; Shang-Jin Wei; Jianwei Xing; Eric Zou |
| Abstract: | A central challenge in the climate crisis is how to mobilize collective action—and who can do it. We show that digital platforms can transform latent support for sustainability into measurable environmental outcomes, while also generating value for the platform itself. We study Ant Forest, a program embedded in Alipay, China’s leading fintech app, which rewards users’ low-carbon behaviors with game points redeemable for planting real trees in arid regions of the country. Since its launch in 2016, the program has engaged over 700 million users and funded the planting of 500 million trees. Using user-level data, we find that participation is significantly higher in cities that have experienced faster vegetation growth. We propose a “green experience” mechanism: visible environmental improvement fosters greater appreciation for nature and increases support for sustainability efforts elsewhere. Survey evidence supports this mechanism, with participants also citing gamification and warm glow as key motivators. We further document spillover effects: Ant Forest participation boosts donations to external environmental projects and increases overall use of the Alipay app. These findings highlight the potential of digital platforms to scale climate action while creating shared environmental and economic value. |
| JEL: | G20 L81 Q50 Q56 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:34074 |
| By: | Tomislav Ladika (University of Amsterdam); Elisa Pazaj (University of Amsterdam); Zacharias Sautner (University of Zurich - Department of Finance; Swiss Finance Institute; European Corporate Governance Institute (ECGI)) |
| Abstract: | A wide range of empirical techniques cannot accurately estimate causal effects of policy events due to anticipation bias-agents making decisions based on beliefs about future policy outcomes. We show how researchers can refine estimates to account for these beliefs, by integrating reduced-form and structural estimation around observed outcomes of a single policy change. We illustrate the importance and implementation of the approach by applying it to the Paris Agreement, which is frequently used to understand how agents respond to a policy event that increased climate regulatory risk. We document that anticipation can bias both the magnitude and sign of the Paris Agreement's average treatment effect on firm outcomes (estimated from a standard model such as a difference-in-differences regression). We offer concrete guidance on how to account for the divergence between causal and estimated effects. |
| Keywords: | Anticipation effects, reduced-form estimation, structural estimation, carbon tax, Climate finance |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:chf:rpseri:rp2559 |
| By: | Lafond, François; Ren, Xiyu (Institute for New Economic Thinking at the Oxford Martin School, University of Oxford); Marotta, Fulvia (Smith School of Enterprise and the Environment, University of Oxford) |
| Abstract: | In the UK, aggregate emissions intensity has declined by about a factor of two over the last three decades. Prior research attributes most of this decline to reductions within industries rather than shifts in the composition of economic activity. This paper investigates whether such within industry progress primarily reflects industry-specific factors or common forces operating across industries. Using a newly constructed panel of UK industry-level GHG emissions and gross value added for 1990–2022, we estimate a block-level dynamic factor model that decomposes changes in emissions intensity into global, block-level, and idiosyncratic components. We find that industry-specific factors account for the majority of variation in emissions intensity changes, though common shocks, either global or at the level of groups of industries, play a smaller but non-negligible role. We further show how patterns of co-movement partly reflect the way that emissions are recorded at the activity level and allocated to industries, a feature with implications for interpreting industry-level decarbonization dynamics. |
| Keywords: | Emissions intensity, Sectoral heterogeneity, Dynamic factor models, Climate policy, Environmental macroeconomics, Directed technical change |
| JEL: | Q54 O33 C38 E32 C32 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:amz:wpaper:2025-15 |
| By: | Rowan Hinkle-Johnson (RWTH Aachen University, Templergraben 55, 52056 Aachen, Germany); Reinhard Madlener (1- Institute for Future Energy Consumer Needs and Behavior (FCN), School of Business and Economics / E.ON Energy Research Center, RWTH Aachen University, Mathieustrasse 10, 52074 Aachen, Germany; 2- Department of Industrial Economics and Technology Management, Norwegian University of Science and Technology (NTNU), Sentralbygg 1, Gløshaugen, 7491 Trondheim, Norway. November 2023) |
| Abstract: | This work aims to explore financial mechanisms and their potential to maximize co-benefits for the mid-term rollout of transmission grid infrastructure. The research focuses on Germany and the U.S., examining options for mid-term capital injection into transmission development. The methodology includes case study identification and analysis, development of strategic criteria, criteria weighting and validation through expert interviews and formulation of a Multi-Criteria Decision Analysis framework. The work aims to qualitatively explore the potential of innovative financial mechanisms to accelerate transmission grid infrastructure development in the face of increasing energy demands and the sustainable energy transition to renewables. |
| Keywords: | Transmission grid infrastructure; financial mechanism; United States; Germany |
| JEL: | G Z |
| Date: | 2025–02 |
| URL: | https://d.repec.org/n?u=RePEc:ris:fcnwpa:021428 |
| By: | Yitian Wang (Department of Economics, Monash University); Russell Smyth (Department of Economics, Monash University) |
| Abstract: | This study assesses the effects of the 2009 Black Saturday Bushfires (BSB), which was the deadliest bushfire in Australia's history, on household energy poverty. Using a linear panel event-study design, applied to matched longitudinal household and geographical data, our results suggest a significant increase in the likelihood of experiencing energy poverty among households residing within 15 kilometers of wildfire areas. Specifically, we find that for households directly affected by the fires, the likelihood of being in energy poverty increases by 10.45-12.23 percentage points in 2010, and by 12.30-13.62 percentage points in 2011, compared to 2005-2007, which is the reference period. We examine the causal effects of exposure to the BSB on personal wellbeing, labor market outcomes and community social capital and find that personal wellbeing and community social support were channels through which exposure to the BSB affected energy poverty. We also consider the role of personality, locus of control and financial foresight as moderators and find that greater openness to experience and adopting longer-term financial planning mitigated the effects of bushfire exposure on energy poverty. |
| Keywords: | Wildfires, Energy poverty, Australia |
| JEL: | I30 Q40 Q54 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:mos:moswps:2025-12 |
| By: | Martínez, Ignacio; Valenciano, Andres; Velloso, Helvia; Perrotti, Daniel E. |
| Abstract: | Financing the transition to a green economy in Latin America and the Caribbean demands innovative approaches to address the region’s significant investment gap, estimated at 7%–11% of GDP annually by 2050. This publication focuses on the financial strategies underpinning green productive development policies, which make up a transformative and comprehensive framework that integrates economic goals with environmental sustainability. Key insights include strategies to reallocate subsidies, lower capital costs and foster private sector investment through blended finance and institutional capital. Innovative tools like green, social and sustainability-linked bonds have emerged as pivotal instruments to channel investments into priority areas and must be enhanced. However, in order to scale up sustainable financing, systemic barriers such as underdeveloped financial markets, regulatory inefficiencies and macroeconomic instability must be addressed. This report also emphasizes the role of robust governance and regional collaboration in optimizing resource allocation, and offers actionable recommendations that provide policymakers and stakeholders with a financial road map to harness green productive development policies as a catalyst for sustainable, inclusive and resilient growth in the region. |
| Date: | 2025–05–06 |
| URL: | https://d.repec.org/n?u=RePEc:ecr:col022:81506 |
| By: | Breyer-Mayländer, Thomas; Zerres, Christopher |
| Abstract: | "Grüne Wirtschaft" beschreibt ein Konzept, bei dem die unterschiedlichen Akteure der Wirtschaft ihre Spielräume nutzen, um den Erwartungen im Hinblick auf die Nachhaltigkeitsziele der Vereinten Nationen. Bei der Umsetzung sind die Akteure auf institutioneller und personeller Ebene ausschlaggebend. |
| Keywords: | Entrepreneurship, Grüne Wirtschaft, Lebensmitteleinzelhandel, Marketing |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:ouwpmm:323588 |
| By: | Philumena BAUER (Institut für Management Accounting, Johannes Kepler Universität Linz, Austria); Dorothea GREILING (Institut für Management Accounting, Johannes Kepler Universität Linz, Austria) |
| Abstract: | The 2022 Corporate Sustainability Reporting Directive significantly expands the number of companies required to disclose non-financial information, now including many large municipal utilities (MUs) for the first time. The study focuses on 14 Austrian and German MUs and examines the current state, challenges, and opportunities of a double materiality analysis in line with the European Sustainability Reporting Standards (ESRS). Methodologically, the study is based on a qualitative content analysis of 28 sustainability reports. In addition, five expert interviews were conducted with representatives of large Austrian MUs in February 2025. The findings show that only a few pioneering MUs have embedded their highly material topics in their corporate strategy. In other MUs, structured double materiality analyses have been carried out and can be allotted to the Environmental, Social and Governance (ESG) dimensions required by the CSRD. The identification of narrative and quantitative data points and the embeddedness in the strategy process is not yet completed. The 14 highly prioritized topics of MUs can be divided into three dimensions. The environmental dimension (E) focuses on five key aspects: (1) energy efficiency; (2) (greenhouse gas) emissions; (3) climate protection measures; (4) energy, heating and mobility transition and (5) reliable and high-quality waste disposal. The social dimension (S) also comprises five key topics: (1) health protection; (2) attractiveness as an employer; (3) security of service provision/security of supply; (4) sustainable cities and (5) product responsibility. In the governance dimension (G), four key aspects are very important: (1) compliance and anti-corruption; (2) security and data protection; (3) industry, innovation and sustainable infrastructure; and (4) efficient operations. There is a clear trend that "ESRS E1: Climate Change", "ESRS S1: Own Workforce" and "ESRS G1: Business Conduct" are of utmost importance for all studied MUs. The range of qualitative and quantitative data points is broad in the analysed MUs. This ranges from estimates of around 200 data points based on the European Financial Reporting Advisory Group (EFRAG) guidelines to MUs that have already defined up to 650 qualitative and quantitative data points for their ESG reporting. Key challenges include the complexity of Scope 3 emissions accounting, a meaningful stakeholder engagement, and high consultancy costs. Despite regulatory uncertainty and differing levels of ESG maturity, the double materiality process offers strategic potential like corporate resilience or stakeholder trust improvement. Pioneering MUs can serve as benchmarks, while others should leverage best practices. However, policymakers need to address quite soon the uncertainties of an ESG reporting landscape that has been further fragmented by the EU Omnibus I proposal in February 2026 and should provide regulatory clarity. |
| Keywords: | Municipal Utilities, Austria, Germany, double materiality analysis, ESG-Reporting |
| JEL: | Q56 H83 M41 |
| Date: | 2025–02 |
| URL: | https://d.repec.org/n?u=RePEc:crc:wpaper:2502 |
| By: | Philumena BAUER (Institut für Management Accounting, Johannes Kepler Universität Linz, Austria); Dorothea GREILING (Institut für Management Accounting, Johannes Kepler Universität Linz, Austria) |
| Abstract: | The 2022 Corporate Sustainability Reporting Directive significantly expands the number of companies required to disclose non-financial information, now including many large municipal utilities (MUs) for the first time. The study focuses on 14 Austrian and German MUs and examines the current state, challenges, and opportunities of a double materiality analysis in line with the European Sustainability Reporting Standards (ESRS). Methodologically, the study is based on a qualitative content analysis of 28 sustainability reports. In addition, five expert interviews were conducted with representatives of large Austrian MUs in February 2025. The findings show that only a few pioneering MUs have embedded their highly material topics in their corporate strategy. In other MUs, structured double materiality analyses have been carried out and can be allotted to the Environmental, Social and Governance (ESG) dimensions required by the CSRD. The identification of narrative and quantitative data points and the embeddedness in the strategy process is not yet completed. The 14 highly prioritized topics of MUs can be divided into three dimensions. The environmental dimension (E) focuses on five key aspects: (1) energy efficiency; (2) (greenhouse gas) emissions; (3) climate protection measures; (4) energy, heating and mobility transition and (5) reliable and high-quality waste disposal. The social dimension (S) also comprises five key topics: (1) health protection; (2) attractiveness as an employer; (3) security of service provision/security of supply; (4) sustainable cities and (5) product responsibility. In the governance dimension (G), four key aspects are very important: (1) compliance and anti-corruption; (2) security and data protection; (3) industry, innovation and sustainable infrastructure; and (4) efficient operations. There is a clear trend that "ESRS E1: Climate Change", "ESRS S1: Own Workforce" and "ESRS G1: Business Conduct" are of utmost importance for all studied MUs. The range of qualitative and quantitative data points is broad in the analysed MUs. This ranges from estimates of around 200 data points based on the European Financial Reporting Advisory Group (EFRAG) guidelines to MUs that have already defined up to 650 qualitative and quantitative data points for their ESG reporting. Key challenges include the complexity of Scope 3 emissions accounting, a meaningful stakeholder engagement, and high consultancy costs. Despite regulatory uncertainty and differing levels of ESG maturity, the double materiality process offers strategic potential like corporate resilience or stakeholder trust improvement. Pioneering MUs can serve as benchmarks, while others should leverage best practices. However, policymakers need to address quite soon the uncertainties of an ESG reporting landscape that has been further fragmented by the EU Omnibus I proposal in February 2026 and should provide regulatory clarity. |
| Keywords: | Municipal Utilities, Austria, Germany, double materiality analysis, ESG-Reporting |
| JEL: | Q56 H83 M41 |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:crc:wpaper:2501 |
| By: | François Destandau (SAGE - Sociétés, acteurs, gouvernement en Europe - ENGEES - École Nationale du Génie de l'Eau et de l'Environnement de Strasbourg - UNISTRA - Université de Strasbourg - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, ENGEES - École Nationale du Génie de l'Eau et de l'Environnement de Strasbourg) |
| Abstract: | The question of spatially differentiated pollution policies first appeared in the economic literature in the early 1970s. For the past 50 years, economists have considered how best to introduce location-specific pollution policies such as Pigovian taxes or tradable permits, and on the basis of which site-specific attributes (polluter characteristics, pollution diffusion, environmental objective, etc.). This article reviews the questions raised and the theoretical results obtained. The central question is when to take account of the local characteristics and when to apply a uniform policy. Through this question, the authors seek to improve environmental policies to fight pollution more effectively. |
| Keywords: | Spatialized Regulation, Pollution, Tradable Permits, Pigovian Taxation, Spatialized Regulation Pollution Tradable Permits Pigovian Taxation |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05156444 |
| By: | Suproń, Błażej |
| Abstract: | Aim: The aim of this study is to econometrically assess the long-term impact of Green Deal-related regulatory areas on cereal crop production in European Union countries. Methods: The study is based on an analysis of panel data for 21 European Union countries for the period 1995–2021. The FGLS, PCSE and CCEMG models, which are robust to heteroskedasticity and cross-sectional dependence, were used to determine the impact of agricultural CO2 emissions, agricultural area, food production volumes and fertilizer consumption on cereal production. In addition, a robust test of the Westerlund ECM panel test model was applied to confirm cointegration. All models were bootstrapped to strengthen the results. Results: The results show that, in the long run, a 10% increase in CO2 emissions from agriculture leads to an average decrease in cereal production of 0.5%. A 1% increase in cultivated area leads to a 1.1% positive change in the value of cereal production, and a 1% increase in fertilizer use per hectare leads to a 0.38% increase in cereal production. The value of the food production index also shows a positive effect on cereal production. If the index increases by 1 p.p., cereal production increases by 1.13% in the long term. The study also found a positive relationship between an increase in the share of renewable energy and the volume of cereal production. If the share of renewable energy increases by 1%, the volume of cereal production in the EU countries increases by 0.11%. Conclusions: Overall, it can be concluded that the green transformation brings both negative and positive aspects of change to agriculture. The decrease in cultivated land and reduced use of artificial fertilizers may negatively impact farm productivity in crop production areas. On the other hand, the improvement of climatic conditions and the development of renewable energies could be beneficial for agriculture in the long term. The study is original in the sense that it fills an empirical and theoretical gap related to the verification of the impact of the Green Deal on the cereal production sector and thus on agriculture in the European Union. |
| Keywords: | Cereal production; Agriculture; FGLS; Green transformation; European Union |
| JEL: | C23 O13 O47 Q15 Q54 |
| Date: | 2024–03–04 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:122723 |
| By: | Sara Kayouh ((LARCEPEM) - Laboratoire de Recherche en Compétitivité Economique et Performance Managériale (LARCEPEM)Centre Interdisciplinaire de Recherche en performance et Compétitivité Faculté des Sciences Juridiques Economiques et Sociales – Souissi Université Mohammed V- Rabat. Maroc); Omar Hniche ((LARCEPEM) - Laboratoire de Recherche en Compétitivité Economique et Performance Managériale (LARCEPEM)Centre Interdisciplinaire de Recherche en performance et Compétitivité Faculté des Sciences Juridiques Economiques et Sociales – Souissi Université Mohammed V- Rabat. Maroc) |
| Abstract: | This theoretical article aims to propose a conceptual model of good governance within Moroccan sportsfederations, based on a critical and integrative review of the literature. The objective is to fill a theoretical gap inthe context of the Global South and to suggest concrete pathways for policymakers. An Integrative Review wasemployed to analyze academic and institutional contributions on sports governance. Based on this analysis, amodel was developed incorporating variables such as transparency, democracy, internal control, and socialresponsibility, intended to be tested within Moroccan collective sports federations. The expected results aim tostrengthen the theoretical foundations of sports governance in Morocco. |
| Abstract: | Cet article théorique vise à proposer un modèle conceptuel de la bonne gouvernance dans les fédérationssportives marocaines, en s'appuyant sur une revue critique et intégrative de la littérature. L'objectif est decombler un vide théorique dans le contexte tiers-mondialiste et de suggérer des pistes concrètes pour lesdécideurs. Une Revue Intégrative a été mobilisée pour analyser les contributions académiques et institutionnellessur la gouvernance sportive. À partir de cette analyse, un modèle incluant des variables comme la transparence, la démocratie, le contrôle interne et la responsabilité sociale a été développé, destiné à être testé dans lesfédérations marocaines de sport collectif. Les résultats attendus visent à renforcer les fondements théoriques dela gouvernance sportive au Maroc. |
| Keywords: | Renewable energy education, Energy transition, Training, Sustainable Development Goals, Morocco. |
| Date: | 2025–07–07 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05151651 |
| By: | Pedersen, Michael |
| Abstract: | Climate change poses significant challenges to economic stability, particularly in vulnerable regions such as Latin America and the Caribbean (LAC). This paper examines the macroeconomic and monetary policy implications of climate risks in the region, focusing on both physical and transition risks. Physical risks, including extreme weather events and long-term climate shifts, disrupt productivity, infrastructure, and supply chains, intensifying inflationary pressures and hindering economic growth. Transition risks, driven by the shift to a low-carbon economy, impact key industries and labor markets, while also creating opportunities for green investments and innovation. The study explores how climate change disrupts the traditional monetary policy transmission mechanism, requiring central banks to adapt their frameworks and tools. It emphasizes the crucial role of central banks in integrating climate risks into monetary policy, promoting sustainable finance, and collaborating with fiscal authorities to enhance climate resilience. The findings highlight the importance of robust data collection, policy coordination, and regional cooperation to address these challenges effectively. By tailoring monetary policies to the LAC region’s distinct socio-economic and environmental context, central banks can play a key role in mitigating climate-related disruptions and fostering sustainable growth. |
| Date: | 2025–06–30 |
| URL: | https://d.repec.org/n?u=RePEc:ecr:col037:81906 |
| By: | Kostarakos Ilias (European Commission - JRC); Marques Santos Anabela (European Commission - JRC); Molica Francesco (European Commission - JRC) |
| Abstract: | The impacts of the green and the digital transitions on the regional economic structure of the European Union are of paramount importance and have been at the forefront of the recent policy discussions. This paper contributes to the ongoing discussion by developing a composite indicator to assess the overall risks imposed by the twin transition on the EU’s NUTS2 regions. The indicator focuses on two key aspects: the regions’ vulnerabilities and their readiness to adapt to the challenges of the transition. The risk index highlights the large degree of heterogeneity in terms of the risk imposed by the transition process, with the less-developed regions emerging as the most vulnerable. |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:ipt:termod:202508 |
| By: | Smolenska, Agnieszka |
| Abstract: | The EU’s sustainable finance agenda aims to accelerate the sustainability transition through the ‘greening’ of finance. How such greening may trigger institutional transformation in Member States is not well understood. However, the political economy literature has elevated the importance of non-market coordination and institutional complementarity in sustainability transitions. The article investigates sustainable finance uptake in four distinct Member States (the Netherlands, Poland, Spain and Sweden). Green bond legal documentation is analysed for three dimensions of firm-finance coordination: exchange of information, monitoring and sanctioning. The micro-level analysis identifies local adaptations that relate to how actors incorporate sustainability commitments and the EU sustainable finance rules into financial transactions and whether they conceive these as a source of risk (the Netherlands and Sweden) or a guarantee of profit (Poland and Spain). One jurisdiction (Poland) is further differentiated by a strong legal sanctioning mechanism resulting from legal factors and the presence of international financial institutions. Notwithstanding local adaptations, several micro – and meso-level transformations are identified, such as the consistent emergence of new forums for both market and non-market coordination. The political economy impacts and micro-level tensions identified in the article highlight how comparative legal analysis can anticipate the sites of broader political struggles. |
| Keywords: | EU Green Deal; green bonds; comparative political economy; institutional complementarity; sustainable finance |
| JEL: | F3 G3 |
| Date: | 2025–07–17 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:128943 |
| By: | Javier Sánchez-García (UAL - Universidad de Almería); Raffaele Mattera (UNIROMA - Università degli Studi di Roma "La Sapienza" = Sapienza University [Rome]); Salvador Cruz-Rambaud (UAL - Universidad de Almería); Roy Cerqueti (GRANEM - Groupe de Recherche Angevin en Economie et Management - UA - Université d'Angers - Institut Agro Rennes Angers - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement, UNIROMA - Università degli Studi di Roma "La Sapienza" = Sapienza University [Rome]) |
| Abstract: | The Russia–Ukraine conflict highlighted how important energy is for the surveillance of economies worldwide. Both war and economic sanctions inevitably affected energy-related commodity prices. Although shocks in energy commodities are known to have an effect on financial stability, this information is not included in existing financial stability indicators. In this paper, we first provide empirical evidence on the existing relationship between energy-related commodities and financial stability in the EU, UK and US, as well as their importance in the forecast of economic downturns. Based on this evidence, we propose a new composite indicator of financial stability which incorporates relevant information from the energy markets. The suitability of the new composite indicator is assessed by its ability to track financial, economic, and energy crises. |
| Keywords: | Energy market, Financial stress, Dynamic Factor Model (DFM), Composite indicators, Macro-financial linkages, Real-time macroeconomics |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05115049 |
| By: | Teter, Jacob; Ladha, Rijhul; Khan, Sarah; Das, Anannya; Ramji, Aditya; Hwang, Roland |
| Keywords: | Engineering, Social and Behavioral Sciences |
| Date: | 2025–08–03 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt0p97c43v |
| By: | Aysu Celgin; Okan Eren; Pinar Ozlu |
| Abstract: | [TR] Bu calismada toplam ve tuketici-ticari ayriminda kredi kullanimlarinin, altin-enerji haric dis ticaret dengesi (cekirdek dis ticaret dengesi) ile altin ve enerji ticaret dengelerine etkileri ayri ayri incelenmektedir. Bulgular, toplam kredi kullanimindaki artisin (azalisin) cekirdek dis ticaret acigini artirdigina (azalttigina) isaret etmektedir. Kredi alt ayrimlarinda incelendiginde hem tuketici hem ticari kredilerin cekirdek dis ticaret dengesini etkiledigi gorulmektedir. Ayrica, toplam ve tuketiciticari ayrimindaki kredi kullanimlarinin altin ticareti acigini da istatistiksel olarak anlamli bir bicimde artirdigi sonucuna ulasilmistir. Diger taraftan, enerji ticaret acigi uzerinde toplam ve alt kalem kredi kullaniminin istatistiksel ve iktisadi olarak anlamli bir etkisi bulunmazken enerji fiyat artislarinin (azalislarinin) yukari (asagi) yonlu etkisi oldugu gorulmektedir. [EN] This study analyzes the effect of total and consumer-commercial credit utilization on the core trade balance, i.e. the trade balance excluding gold and energy, and the gold and energy trade balances separately. The findings indicate that an increase (decrease) in total credit utilization increases (decreases) the core trade deficit. When analyzed by credit sub-categories, it is observed that both consumer and commercial credit affect the core trade balance. In addition, this paper has shown that total and consumer-commercial credit utilization statistically significantly increases the gold trade deficit. On the other hand, total and sub-item credit utilization does not have a statistically and economically significant effect on the energy trade deficit, while the increases (decreases) in energy prices have an upward (a downward) effect on the deficit. |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:tcb:econot:2512 |
| By: | Gschossmann, Isabella; Kok, Christoffer; De Cicco, Valentina |
| Abstract: | Do climate stress tests affect bank credit supply to brown firms? Using a difference-in-differences approach and detailed data on individual bank loans in the euro area, this paper provides novel evidence on the effects of the ECB’s 2022 climate risk stress test. Despite no capital implications or public disclosures, participating banks significantly reduced credit to greenhouse gas-intensive industries relative to nonparticipants. Among affected firms, smaller borrowers were more negatively impacted. Notably, only the best-performing banks in the climate stress test significantly reduce their brown credit after participation. This is evidence that banks which are more advanced in climate risk management more proactively consider transition risks in their lending. In contrast, banks less advanced in managing climate risk do not to the same extent discriminate against polluting firms. JEL Classification: E51, G21, G28 |
| Keywords: | banking supervision, climate risk, climate stress test |
| Date: | 2025–08 |
| URL: | https://d.repec.org/n?u=RePEc:ecb:ecbwps:20253088 |
| By: | Stefano Carattini; Ulrich Matter; Matthias Roesti |
| Abstract: | The ability of private interests to influence the political process is an important topic in economics and political science. While some of these efforts appear as campaign finance and lobbying expenditures in the official record, private interests may also engage in "covert" influence through media capture. In this paper, we systematically examine whether and to what extent corporations in the United States with an interest in slowing climate action might have used corporate advertisement in media outlets as a strategic tool to align such outlets' coverage with their views. Based on several complementary empirical strategies, we find that advertisement spending by such actors (i) increases during election periods and (ii) is associated with both lower and more skeptical-leaning coverage of climate change and climate policy. |
| Keywords: | lobbying, advertising, media capture, climate policy |
| JEL: | D72 D83 L82 Q54 Q58 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12000 |
| By: | Cullen S. Hendrix (Peterson Institute for International Economics) |
| Abstract: | The institutions of global economic governance--the World Trade Organization, the International Monetary Fund, and the World Bank Group--face unprecedented challenges at a time when global efforts to mitigate and adapt to climate change are faltering. Rising economic nationalism, resurgent great power competition, and climate-skeptic populism in high-income democracies are undermining the ability of these institutions to coordinate around climate solutions. Facing these pressures, regional and plurilateral arrangements will be increasingly important for providing paths forward. This paper explores the concept of "tied aid" as a means of meeting the global South's need for large transfers in a context of increasing economic nationalism. It also highlights the pivotal role of countries other than the United States and China in sustaining and reforming global governance in a multipolar world. Although not first-best solutions, these approaches may be the most politically feasible strategies for advancing global climate mitigation, adaptation, and finance in the near future. |
| Keywords: | Climate Change, Economic Nationalism, Climate Finance, Plurilateralism, Geoeconomics, Energy |
| JEL: | F53 Q54 F51 O19 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:iie:wpaper:wp25-17 |
| By: | Roy Cerqueti (GRANEM - Groupe de Recherche Angevin en Economie et Management - UA - Université d'Angers - Institut Agro Rennes Angers - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement, UNIROMA - Università degli Studi di Roma "La Sapienza" = Sapienza University [Rome]); Giovanna Ferraro (Università degli Studi di Roma Tor Vergata [Roma, Italia] = University of Rome Tor Vergata [Rome, Italy] = Université de Rome Tor Vergata [Rome, Italie]); Raffaele Mattera (UNIROMA - Università degli Studi di Roma "La Sapienza" = Sapienza University [Rome]); Saverio Storani (GRANEM - Groupe de Recherche Angevin en Economie et Management - UA - Université d'Angers - Institut Agro Rennes Angers - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement, UNIROMA - Università degli Studi di Roma "La Sapienza" = Sapienza University [Rome]) |
| Abstract: | This paper faces the relevant task of assessing the integration of European countries when dealing with three paradigmatic socio-environmental themes: Circular Economy (CE), Energy Transition (ET), and Social Justice (SJ). Specifically, we aim to explore whether a similar behavior in facing one of the considered aspects is mirrored by similarity in the others. We move from a dataset composed of five variables for CE, two for ET, and three for SJ, representing yearly data for the quinquennium 2016-2020 and European countries. We build a multilayer network based on the ten variables having countries as nodes. Each layer/variable has weighted links based on countries' similarity. Inter-layer links are created through a community detection exercise over the individual layers. This approach allows us to evaluate analogies, leading to the assessment of intra-and inter-layer policy integration. We find a relatively low level of integration at the European level and a high sensitivity to the number of detected communities, thus revealing the role of countries' heterogeneity in driving integration. |
| Keywords: | Circular economy, Energy transition, Social justice, European countries, Multilayer networks, Clustering procedures |
| Date: | 2025–01–22 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05109264 |
| By: | Zattler, Jürgen; Schmieg, Adrian |
| Abstract: | Both World Bank shareholders and the Bank's management have emphasised the need for large-scale private investment to achieve development and climate goals. For the World Bank Group, this means collaborating more closely between its different institutions, an issue that World Bank President Ajay Banga has prioritised. This paper examines the extent to which these ambitions are being translated into practice, using energy-related reforms, with a focus on renewable energy sources, as an example. Through three country case studies (Romania, Bangladesh and Cameroon), it examines how the Bank's diagnostic work is reflected in its country strategies and policy-based lending programmes. Coherence is assessed using nine questions. The case studies show that despite many cross-references between the documents and some parallels in the analysis of key constraints, three challenges emerge. First, the diagnostic documents lack coherence. Second, the issues raised in these documents are often not translated into the Country Partnership Frameworks (CPFs). Third, in many cases there is a very weak link between the proposals in the diagnostic documents and the CPF on the one hand, and the policy-based lending programme with its prior actions (PAs) and disbursement-linked indicators (DLIs) on the other. The PAs and DLIs are often unambitious. The paper recommends four reforms to address these shortcomings: (1) Diagnostic documents should indicate which policy reforms are considered most binding and suggest steps to address them. In addition, all CPFs should include an annex with the diagnostic documents' main operational (policy) proposals and how they are reflected in the CPF. (2) CPFs should explicitly explain how management intends to use country platforms. If their use is not considered feasible, the CPF should explain why. (3) Given that fiscal policy is a powerful tool for decarbonising the energy sector, and given the underperformance in translating reform needs into policy-based programmes and appropriate PAs/DLIs, the Bank should review its approach in this area; the new, planned energy policy would be a first opportunity. (4) As bringing together private and public sector perspectives is key to mobilising private sector investment, the Bank's management should include public sector perspectives and representatives in the Private Sector Lab, set up by the Bank's president in 2023. The Bank's management is currently reforming both its country engagement model and its energy policy strategy. Moreover, it has introduced some organisational changes aimed at fostering a closer cooperation between its various institutions. The recommendations in this paper should be considered in this context. Implementing the recommendations would greatly increase private capital mobilisation, which was a key issue on the agenda for the Financing for Development conference in Seville in July 2025. |
| Keywords: | energy, development finance |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:diedps:323211 |
| By: | Rehkamp, Sarah; Canning, Patrick; Gómez, Miguel I.,; Zachary, James Chandler; Baker, Quinton |
| Abstract: | The production of goods and services throughout an economy requires the use of resources and materials. Linking resource flows to economic sectors is challenging because of the varying data availability and heterogeneity in the dataset dimensions, such as geography, activity scale, or time. This technical bulletin presents a flexible accounting structure to measure annual resource use throughout the U.S. economy by production activity. This research builds on past work by presenting an annual time series and advancing allocation metrics. Both natural resources (i.e., energy and freshwater) and human resources (i.e., employment) are considered. These data quantify resource use and identify the resource intensity or efficiency of sectors but also offer opportunities for macroeconomic modeling and applications. |
| Keywords: | Labor and Human Capital, Research Research Methods/Statistical Methods, Resource/Energy Economics and Policy, Supply Chain |
| Date: | 2025–08 |
| URL: | https://d.repec.org/n?u=RePEc:ags:uerstb:364699 |
| By: | Torijano, Eugenio |
| Abstract: | En este documento se presenta información relevante de la industria eléctrica de los ocho países que conforman el Sistema de la Integración Centroamericana (SICA). En esta publicación se consideran dos grupos de países: i) los seis países que integran el Mercado Eléctrico Regional de América Central y se incluyen como Sistema de Interconexión Eléctrica de los Países de América Central (SIEPAC) (Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua y Panamá), y ii) en la sigla SICA se incluyen los ocho países que conforman el organismo de integración referido (los seis ya mencionados, SIEPAC, más Belice y la República Dominicana). Se presentan varios cuadros regionales y nacionales con datos estadísticos de la industria eléctrica, la mayor parte actualizados hasta 2023, que muestran los resultados de los segmentos de producción y distribución de electricidad en los dos mercados relevantes (mercados mayoristas y mercados regulados) y de las transacciones regionales (para los países del SIEPAC) y binacionales (para las transacciones de electricidad entre México, Belice y Guatemala). En la sección de hechos relevantes se comentan las principales tendencias en el comportamiento de la oferta y el consumo de electricidad, y se describen las principales adiciones de nuevas plantas generadoras que iniciaron operaciones. |
| Date: | 2025–03–18 |
| URL: | https://d.repec.org/n?u=RePEc:ecr:col022:81389 |
| By: | M. Trabandt (Audencia Business School); W. Lasarov (Audencia Business School); R. Mai; S. Hoffmann |
| Abstract: | Access-based consumption, such as car sharing or ride-hailing, is often promoted as a more sustainable alternative to ownership-based models, combining both society-related (e.g., sustainability) and self-related (e.g., cost savings) benefits. However, this promise of sustainability can backfire when consumers substitute lower-emission alternatives—such as biking or public transportation—with access-based services, a phenomenon we define as overconsumption. Across two laboratory experiments (n = 351; n = 388) and a field study (n = 167) in different mobility contexts, we demonstrate that communication strategies activating both self-related and society-related benefits—although effective in increasing participation—can unintentionally foster overconsumption. In contrast, activating society-related benefits alone significantly curbs this effect. We identify self-enhancement as the central underlying mechanism driving these effects in a dual role. While self-enhancement increases both participation and overconsumption, its impact is contingent on consumers' environmental identity. Specifically, self-enhancement promotes sustainable participation among individuals with higher environmental identity but encourages overconsumption among those with lower environmental identity. Our findings offer actionable insights for marketers, policymakers, and nonprofits by outlining communication strategies that maximize engagement while minimizing environmental harm in the promotion of access-based consumption. |
| Keywords: | access-based consumption environmental identity overconsumption self-enhancement self-related benefits sharing society-related benefits |
| Date: | 2025–04 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05145211 |
| By: | Edith Combes (LAET - Laboratoire Aménagement Économie Transports - UL2 - Université Lumière - Lyon 2 - ENTPE - École Nationale des Travaux Publics de l'État - CNRS - Centre National de la Recherche Scientifique, ENTPE - École Nationale des Travaux Publics de l'État - ENTPE - École Nationale des Travaux Publics de l'État - Ministère de l'Ecologie, du Développement Durable, des Transports et du Logement, UL2 - Université Lumière - Lyon 2) |
| Keywords: | Stationnement, Evaluation, Zones à faible émission, Zone à trafic limité |
| Date: | 2025–04–07 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05114229 |
| By: | Meyer, Maeva; Bousonville, Thomas |
| Abstract: | This literature review investigates alternative solutions to fossil fuels in the context of road freight transport, focusing on both ecological and economic perspectives. A rigorous bibliographic method- ology was employed to ensure the relevance and quality of the selected studies. The research process was structured through a systematic, multi-step decision-making approach, which included selecting the most appropriate research plat-form, identifying a relevant keyword combination, and deciding whether to search for keywords in abstracts only or across the entire text. Through this process, 157 scientific publications were identified as relevant for further analysis. The present document focuses on the methodology used to collect, select, and classify the relevant literature. |
| Keywords: | Literature review, Alternative fuels, Road freight transport |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:htwlog:323209 |
| By: | Mouez Fodha (UP1 - Université Paris 1 Panthéon-Sorbonne); Lea Dispa (AMSE - Aix-Marseille Sciences Economiques - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - École Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique); Marion Davin (CEE-M - Centre d'Economie de l'Environnement - Montpellier - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier); Thomas Seegmuller (AMSE - Aix-Marseille Sciences Economiques - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - École Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | C'est la version économique de la quadrature du cercle : comment à la fois investir massivement pour la transition écologique et maîtriser la dette pour retrouver des marges de manœuvre financières ? Sous certaines conditions, les deux sont possibles simultanément. Découvrez comment. |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05114580 |