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on Energy Economics |
| By: | Guy, Johnathan (Columbia University) |
| Abstract: | How do financial constraints shape the energy transition in developing countries? I study this question in India, where electricity procurement is governed at the subnational level. Electoral politics motivates state governments to subsidize electricity consumption, resulting in financial stress for electricity distribution utilities (DISCOMs). Using multiple sources of original data on utility and plant operations, I investigate the relationship between financial distress and decarbonization. I theorize that the effect of utility insolvency depends on the margin considered—dispatch vs. capacity investment—and on institutions. Counterintuitively, but consistent with my theory, I find that financial stress is associated in the short run with greater relative procurement of renewable energy and less procurement of fossil fuels. Mechanism tests suggest that coal dispatch is more sensitive to liquidity constraints, as distressed DISCOMs cut back on coal deliveries while renewable energy remains protected by “must-run” dispatch regulations. In contrast, I find at most weak evidence that insolvency raises challenges for decarbonizing electricity in the long run: insolvency shows no relationship with renewable-energy tendering, only suggestive evidence that it slows renewable capacity investment, and similarly weak evidence that it curtails expansion of transmission lines that renewables need to scale. The results qualify the conventional wisdom that electricity utility insolvency is a binding constraint on the energy transition. |
| Date: | 2026–08–29 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:8m47e_v1 |
| By: | Hugo Rojas-Romagosa; Gregor Schwerhoff; Sneha D Thube; Sha Yu |
| Abstract: | Solar and wind power account for a growing share of electricity generation in China and now dominate new capacity additions. As the power system transitions toward renewable generation, greater flexibility will be required to maintain system stability. This paper uses a computable general equilibrium model to assess the macroeconomic implications of this transition. Model results indicate a modest increase in electricity prices in the near-term, followed by sustained declines as renewable shares rise, particularly when variability is managed through battery storage rather than coal-fired backup generation. While the transition requires substantial adjustments in electricity supply and investment, it raises GDP in the long run and strengthens energy security. Battery-based flexibility outperforms continued reliance on coal across multiple dimensions, even when accounting for rising electricity demand from emerging technologies such as artificial intelligence. However, this transition pathway also increases the risk of stranded assets in the coal power sector. |
| Keywords: | China; Energy Transition; Renewable Energy; CGE models |
| Date: | 2026–08–28 |
| URL: | https://d.repec.org/n?u=RePEc:imf:imfwpa:2026/185 |
| By: | Rim Berahab; Sabrine Emran |
| Abstract: | The global energy system has entered a period of acute structural stress following the strikes by the United States and Israel on Iran in late February 2026, and the subsequent disruption of flows through the Strait of Hormuz. According to the International Energy Agency, the resulting shock marks the most severe disruption to global energy markets since the 1970s oil crises, with systemic characteristics comparable to the combined effects of those crises and the 2022 Russia-Ukraine energy shock. This policy paper examines the mechanics of the oil-price shock, then assesses the structural importance of the Strait of Hormuz as a global energy chokepoint, through which an estimated 17.8 million barrels per day of crude oil and LNG transited before the Iran conflict. It highlights the limited substitutability of existing bypass infrastructure under conditions of sustained disruption. It also evaluates the fragmentation of the OPEC+ framework, including the United Arab Emirates’s announced withdrawal from the alliance on May 1, 2026, marking a critical point in the erosion of coordinated production management among major Gulf exporters. Finally, it analyses the role of renewable energy as a structural variable in the crisis, not as a short-term buffer, but as an accelerating force reshaping the geopolitical foundations of energy security. The Hormuz disruption should therefore be understood not only as a price shock, but as a systemic stress test of global energy governance, exposing deep structural fragilities and accelerating realignments across markets, alliances, and the energy transition. |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:pbcoen:pb29_26 |
| By: | Francis Perrin |
| Abstract: | The close relationship between energy and geopolitics is well established. The same holds true for several armed conflicts. In recent years, however, the conflict most closely intertwined with energy has been the 2026 Iran War, which began on February 28. A ceasefire has been in effect since April 8, and a Memorandum of Understanding (MoU) was signed by Iran and the United States on June 17. Nevertheless, as demonstrated by Iran's attacks on commercial vessels and recent U.S. strikes between July 6 and July 13—the date on which this Policy Brief was finalized, hostilities are far from over. This war is not associated with one form of energy, but with three: nuclear energy and hydrocarbons (oil and natural gas). The connections between the conflict and energy are numerous and diverse, as this Policy Brief will explain. |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:pbcoen:pb41_26_2 |
| By: | Anita Baudysova (Institute of Economic Studies, Faculty of Social Sciences, Charles University); Dominik Telupil (PAQ Research); Kristina Zindulkova (Institute of Economic Studies, Faculty of Social Sciences, Charles University) |
| Abstract: | The extension of the EU Emissions Trading System to buildings, road transport, and small industry (EU ETS 2) introduces carbon pricing in sectors previously exempt from EU-wide emissions pricing while generating revenues for climate and social policies. However, higher energy prices are expected to disproportionately affect vulnerable households, particularly in Central and Eastern Europe. This paper examines the distributional impacts of ETS2 on households in Czechia, considering differences by income, heating source, and municipality size, and evaluates the potential of existing tax and welfare instruments to mitigate these impacts. Using Household Budget Survey and EU-SILC data, household-level expenditure increases under an allowance price of €55/tCO2 (2025 prices) are modeled, assuming direct effects only, full price pass-through and no behavioural responses. We confirm the regressive burden of ETS2, ranging from 1.58% of disposable income for the lowest income decile to 0.50% for the highest, even though higher-income households face the largest absolute cost increases. The heating source emerges as a major, yet often overlooked, determinant of household vulnerability, with substantially higher costs for households relying on coal and natural gas. The main contribution consists in the model of direct compensation linked to existing policy instruments, namely an increased taxpayer credit, a higher energy allowance, and automatic pension indexation. All measures have progressive distributional effects, with the combined package compensating 4.6 million households at an estimated annual fiscal cost of 13 billion CZK, approximately half of Czechia´s projected annual ETS2 revenues. The findings demonstrate the importance of accounting for heating technologies and spatial differences in assessing ETS2 impacts and show that realistic compensation mechanisms can substantially reduce adverse distributional effects while remaining fiscally feasible. |
| Keywords: | EU ETS 2, carbon pricing, transport, heating, impact on households, direct compensation, HBS |
| JEL: | Q58 H23 D12 I38 |
| Date: | 2026–09 |
| URL: | https://d.repec.org/n?u=RePEc:fau:wpaper:wp2026_26 |
| By: | Adel Ben Youssef (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); Mounir Dahmani (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, University of Gafsa); Davide La Torre (SKEMA Business School – Sophia Antipolis, Valbonne, France) |
| Abstract: | This study examines how green finance strategies influence energy transition performance in 31 OECD countries. It combines a structured, literature-based indicator framework with WSM, TOPSIS, SMAA robustness analysis, and interpretable machine learning via Random Forest, XGBoost, and SHAP, and double machine learning for orthogonalized effect estimation. The results reveal significant differences among countries, with Denmark ranking as the top performer and several others constrained by fossil fuel dependence and structural barriers. The XGBoost model predicts the SMAA-based country ranking with an R² value of 0.447. SHAP analysis identifies real GDP per capita, renewable energy public RD&D, and green patents as the three strongest predictors of transition performance rankings, followed by environmentally related tax revenues and energy productivity. Double machine learning shows that environmental tax revenues carry a robust orthogonalized effect on the transition rank, stable across nuisance learners and control sets. The 31 OECD countries fall into three strategic profiles: 8 renewable-dominant, 8 intermediate-transition, and 15 fossil-dominant. These findings demonstrate that effective green finance strategies require coherence among fiscal instruments, innovation support, energy productivity, and country-specific structural conditions. The study provides a comparative framework for designing differentiated policy strategies aligned with national transition capacities. |
| Keywords: | SHAP, double machine learning, OECD countries, SMAA, TOPSIS, energy transition, green finance, green finance, energy transition, TOPSIS, SMAA, SHAP, double machine learning, OECD countries |
| Date: | 2026–09–05 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05726508 |
| By: | Monteiro, Gabriel (Carnegie Mellon University); Severnini, Edson (Boston College) |
| Abstract: | Transportation is a major source of greenhouse gas and air pollution emissions worldwide, with most automobile pollution coming from vehicles older than 10 years. Yet, policies often discourage removing older vehicles from the fleet, with consequences for pollution and public health. This paper examines an equity-motivated anti-scrappage policy in Brazil using a border-pair design exploiting state variation in vehicle tax exemption age thresholds. Using municipality-level vehicle registration data from 2013-2020, we find lower exemption thresholds increase average fleet age by up to one year, encouraging owners to retain vehicles until they qualify for tax exemptions. Using fleet- and satellite-based pollution estimates and administrative health data, we show these policies increase on-road CO2 emissions per capita by up to 23% and PM2.5 concentrations by 4%, while worsening infant health. Leveraging state reforms that raised exemption ages, we find incumbents face greater electoral penalties where more vehicles re-enter the tax base, consistent with a “political environmental trap.†Within an MVPF framework, lowering the exemption age by five years generates a net welfare loss of $0.78 for every $1 of forgone government revenue. |
| Keywords: | vehicle ownership tax, transportation-related local air pollution, infant health, electoral and fiscal outcomes, border-pair approach |
| JEL: | Q53 Q56 Q58 H23 I18 |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18898 |
| By: | Loubna Eddallal |
| Abstract: | The renewed instability in the Middle East has exposed Africa's continued vulnerability to external energy shocks. Shipping disruptions through the Strait of Hormuz, the maritime chokepoint through which roughly one-fifth of global oil and LNG supplies transit, have once again demonstrated that African fuel security remains highly dependent on geopolitical developments beyond the continent. While many African economies have traditionally relied on refined petroleum imports from Gulf producers, the current crisis is accelerating the emergence of a continental alternative. The Dangote Refinery is increasingly functioning as a continental contingency mechanism by supplying refined petroleum products to African markets facing supply uncertainty. Although this role is driven by commercial incentives rather than coordinated policy, it represents an important shift in Africa's energy geography: for the first time, a continental refining hub possesses the scale to partially cushion African markets against external supply disruptions and strengthen Africa's control over the oil value chain. Dangote's potential to serve as a strategic energy supplier for Africa creates significant trade and energy-security opportunities for several African countries, particularly Morocco, whose aviation market has been expanding rapidly since 2024. |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:pbcoen:pb48_26 |
| By: | Lasse S. Stötzer; Florian Zimmermann |
| Abstract: | This paper studies the moral roots of climate policy attitudes. We fielded a survey with a representative sample in the US to study the predictive power of moral universalism in ex plaining heterogeneity in specific climate policy attitudes. Our results reveal that universalism significantly relates to support for various policy measures that prevail in current policy debates in most countries, including domestic policies such as a carbon tax and a green infrastructure program, as well as international policies such as international burden-sharing. This pattern is replicated in simple bystander allocation decisions where respondents are asked to decide “who should pay” to fight climate change or to mitigate the adverse consequences of global warming. Open-text elicitations further corroborate these results and identify moral universalism as a key aspect of how people reason about climate policies. |
| Keywords: | Moral Universalism, Climate Change, Policy A tudes, Survey |
| JEL: | D01 C91 Q54 |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:bon:boncrc:crctr224_2025_773 |
| By: | Abdelkader Aguir (ESPI - Ecole Supérieure des Professions Immobilières, ESPI2R - Laboratoire ESPI2R Research in Real Estate [Lyon] - ESPI - Ecole Supérieure des Professions Immobilières, MOFID-Université de Sousse); Fernanda Sabrini-Chatelard (ESPI2R - Laboratoire ESPI2R Research in Real Estate [Lyon] - ESPI - Ecole Supérieure des Professions Immobilières); Marouene Mbarek (ESPI2R - Laboratoire ESPI2R Research in Real Estate [Nantes] - ESPI - Ecole Supérieure des Professions Immobilières, LEMNA - Laboratoire d'économie et de management de Nantes Atlantique - Nantes Univ - IAE Nantes - Nantes Université - Institut d'Administration des Entreprises - Nantes - Nantes Université - pôle Sociétés - Nantes Univ - Nantes Université) |
| Abstract: | Climate change and the transition toward a low-carbon economy have intensified the debate on the interaction between environmental factors and macroeconomic stability. While recent studies have mainly focused on how monetary policy can address climate-related risks, much less attention has been devoted to the potential influence of environmental indicators on inflation. This paper examines the relationship between carbon emissions and inflation dynamics across 20 Eurozone countries over the period 2010–2023. Using annual panel data, we estimate a dynamic model based on the System Generalized Method of Moments (System GMM) to account for inflation persistence and potential endogeneity. The empirical framework incorporates carbon emissions per capita together with final energy consumption, the EUR/USD exchange rate, and the trade balance as key macroeconomic control variables. The baseline specification does not reveal a statistically significant relationship between carbon emissions and inflation. However, robustness analysis based on a first-differenced System GMM specification identifies a significant negative association, suggesting that environmental factors may influence inflation dynamics under alternative model specifications. Energy consumption and exchange rate movements also emerge as important determinants of inflation. These findings contribute to the growing literature linking climate-related variables and monetary policy by highlighting the relevance of incorporating environmental indicators into inflation analysis while emphasizing the need for cautious interpretation and further empirical investigation. |
| Keywords: | Carbon emissions, Climate macroeconomics, Eurozone, System GMM, Environmental indicators, Inflation |
| Date: | 2026–09–01 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05734117 |
| By: | Hafez Ghanem |
| Abstract: | Africa is facing a massive electricity deficit that is impacting its economic and social development, and its ability to catch up with the rest of the world. It is imperative that the continent increase its electricity production to connect the 600 million people who are currently without access and to improve the quality of service for the millions who are suffering from frequent blackouts and load-shedding. Economic development in the 21st century will crucially depend on the digital economy and on artificial intelligence (AI), and both are big consumers of electricity. The last decade has seen major advances in nuclear technology and the development of small modular reactors (SMRs). Recently the World Bank has changed its policy to allow it to finance nuclear energy projects in developing countries. This policy brief examines whether those developments are an opportunity for Africa. Are SMRs the solution to Africa’s electricity problem? The policy brief is divided into six sections. After this introduction, section 2 describes Africa’s electricity deficit and its impact on the continent’s development. Section 3 explains why Africa needs more mini grids. Section 4 describes the evolution of SMR technology. Section 5 compares the costs and benefits of nuclear energy using SMRs to the cost and benefit of renewables and of natural gas. Section 6 concludes by trying to answer the question of whether Africa should go full speed toward adopting SMR technology. |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:pbecon:pb37_26 |
| By: | Yang Yang; Sambit Bhattacharyya; Chirantan Chatterjee; Jiao Wang |
| Abstract: | We study the effect of Russia-China gas pipeline news shock on energy importer China. We demonstrate that the shock triggers an expectation induced current price increase likely through increased demand in gas futures contract. Using panel data covering 31 provinces, 19 industries, and 4, 603 households over the period 2010 to 2022, we find that the shock reduces income and consumption. At the province-year level, consumption falls more than income. At the industry-year-province level, the shock reduces wages overall. However, the effect appears to be heterogeneous across industries subject to their operational scale. At the household level, the effect of the shock is negative on income and statistically insignificant on consumption. However, the insignificant consumption effect is heterogeneous by income quantiles, with lower income households reducing consumption more sharply. The results appear robust to price-intensity treatment, placebo tests, and matching estimators. |
| Keywords: | energy news shocks, income, consumption, China |
| JEL: | D72 O11 |
| Date: | 2026–09 |
| URL: | https://d.repec.org/n?u=RePEc:een:camaaa:2026-74 |
| By: | Caiafa, Clara R. |
| Abstract: | While a growing body of literature has argued that the rise of a global green hydrogen economy can reshape global value chains and trade patterns, significant uncertainty remains about how transformative such reorganization would be. The economic geography literature has examined drivers of industry location and the potential benefits of different spatial organizations of industries, but a comprehensive application of these findings to a green hydrogen economy has so far been missing. This paper bridges the economic geography literature with research on green hydrogen value chains to identify how different drivers can influence the location of activities across the green hydrogen value chain, and the implications thereof for development opportunities across regions. The analysis concludes that most findings about the renewables‑pull effect draw on cost‑optimization perspectives rooted in classical and neoclassical location theory, overlooking many insights from post‑1990s economic geography. Incorporating this broader perspective suggests that the transformational potential of green hydrogen is more limited than often assumed. Places with only factor input and transport cost advantages may attract simple, mature, activities, in industries where process innovation is incremental and led by large incumbents with the ability to exclude rivals, resulting in limited potential for knowledge-spillovers and self-sustained competitiveness. Meanwhile, regions with complex capabilities but limited renewable energy resources may retain high value added activities related to equipment manufacturing and knowledge development. This would mean that even if industry relocation leads to a reorganization of value chains, it would unlikely fundamentally transform prevailing uneven patterns of specialization and diversification. |
| Keywords: | Industrial Decarbonisation, Industry Location, Global Value Chains, Economic Developement, Green Hydrogen |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:esconf:343028 |
| By: | Antonio Haro-Banon |
| Abstract: | The UK economy experienced three major shocks between 2017 and 2022: Brexit, the pandemic, and the European energy crisis. This paper asks whether these events changed the structure of the UK's production network, using detailed data covering 12 UK regions and 105 industries. A key finding is that conventional measures can be misleading. On the face of it, the UK economy appeared to become more interconnected over this period, with standard input‐output multipliers rising by around 5‐6 per cent. However, once inflation and sector-specific price changes are stripped out, that increase disappears. The UK's average multiplier was essentially unchanged. The more important change was structural. Measures of how shocks propagate through supply chains show that the production network became more amplifying and more concentrated, with most of this shift occurring in 2021‐22. The evidence points overwhelmingly to the energy sector, especially electricity and gas, as the source of this change. Brexit‐related effects appear smaller, while pandemic effects are diffuse. The policy lesson is that resilience depends not only on average interconnectedness but also on where influence is concentrated. The energy‐price shock exposed the extent to which a small number of strategically important sectors can reshape the transmission of disturbances across the wider economy. Monitoring these structural vulnerabilities may be as important as tracking headline measures of economic activity. |
| Keywords: | input–output analysis; production-network amplification; price deflation; regional production networks; energy-price episode; UK regions |
| JEL: | C67 R11 R15 F14 |
| Date: | 2026–09 |
| URL: | https://d.repec.org/n?u=RePEc:nsr:niesrd:586 |
| By: | Rene Schwaiger; Julian Benda; Esther Blanco; Armando Holzknecht; Jürgen Huber; Michael Kirchler |
| Abstract: | Carbon dividends have been proposed as a mechanism to build public support for carbon pricing, yet evidence from real-world policy settings with highly visible dividend designs remains absent. We study the Austrian Klimabonus, a carbon dividend with highly visible features paying every adult resident an annual lump-sum transfer of €145 – €290. This manuscript presents results from two large and preregistered studies ($N$= 2, 628) with representative samples of the Austrian population, investigating support for carbon pricing before and after the Klimabonus’ abolition in 2025, including two real-life measures of support. Despite three years of branded, direct payments, Study 1 showed that the baseline awareness of carbon tax revenues being returned to citizens remained very low (14\%), and only 20–30\% of residents supported the carbon price while dividends were in place. Two information treatments explaining the tax and its efficiency or additionally linking the carbon tax to the dividend had limited effects on support. Study 2 revealed that one year after the abolition of the Klimabonus, general support remained mostly stable compared to support when the dividend was in place. Concurrently, only 33.6\% of residents knew that the tax revenue was now used for the general budget, and up to 25\% incorrectly believed they had received the Klimabonus in 2025. These findings suggest that the low support for carbon pricing with dividends previously reported in the literature might not have been an artifact of low dividend salience. Additional analyses point to the relevance of willingness to drive less and political views as determinants of support for carbon pricing. |
| Keywords: | carbon pricing; carbon dividend; climate policy support; information provision; policy knowledge |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:inn:wpaper:2026-08 |
| By: | Markus Janser; Stephen Jarvis; Kathrine von Graevenitz; Ulrich J. Wagner |
| Abstract: | There are longstanding concerns that the costs of environmental regulations can reduce industry competitiveness, especially in the presence of incomplete regulation. Using detailed administrative data on manufacturing establishments in Germany, we empirically analyze how two prominent climate policies, as well as measures to mitigate their effective compliance costs, affect competitiveness outcomes. We estimate small or no direct effects of compliance costs on wages and employment in regulated establishments. However, we do find evidence of a reduction in the propensity to exit among establishments that were shielded from compliance costs. Our findings highlight that even when operating firms appear largely unaffected, meaningful impacts can still arise when accounting for firms opting to shut down. |
| Keywords: | Manufacturing, Employment, Wages, Exit, Competitiveness, Environ mental Regulation, Climate Policy |
| JEL: | D22 H23 L23 L60 Q52 Q54 |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:bon:boncrc:crctr224_2025_775 |
| By: | Adel Ben Youssef (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); Mounir Dahmani (UGAF - Université de Gafsa - Sidi Ahmed Zarroug, 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); Mohamed Wael Ben Khaled (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: | In the Southern and Eastern Mediterranean (SEMed) region, the transition to low-carbon power must be achieved while ensuring security of supply, affordability and development. Using the Just and Sustainable Energy Transition framework and a neo-institutional lens, we analysed 470 study–country–family observations (2000–2025) across 11 jurisdictions and 7 instrument families to create an institutional mechanism map. Three regularities stand out. Systems performance signals dominate in nine countries, primarily through time-differentiated pricing, settlement discipline and codified connection, queuing and curtailment rules. Financing and integration risks are often addressed together where auctions, revenue-support schemes, published access terms and standardised long-term contracts coexist with system rules. Equity-related signals arise where prosumer compensation and reconciliation rules influence participation and cost sharing at the retail margin. These patterns provide an interpretive basis for sequencing constraint-led reforms in SEMed power systems that target binding risks while respecting fiscal and distributional constraints. |
| Keywords: | auctions, energy transition, governance, SEMed, prosumers, market design |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05726520 |
| By: | Imad Hajjaji |
| Abstract: | Geopolitical rivalries, and especially the competition for access to critical minerals, could be an opportunity for Africa. The objective of African mineral exporters is to diversify their partners and increase processing and value addition on the continent in order to create jobs and enhance export revenues.[1] To succeed, African exporters of critical minerals need to strengthen their coordination and develop joint infrastructure projects and regional value chains. The creation of a platform of key African mineral exporters would be an important step toward enhanced coordination and cooperation. |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:pbcoen:pb38_26 |
| By: | Sajal Jain (Indian Council for Research on International Economic Relations (ICRIER)); Diya Dasgupta; Somit Dasgupta; Amrita Goldar |
| Abstract: | The analysis found 340 industry divisions at 5-digit National Industrial Classification (NIC) and 16 broad occupation groups under the National Classification of Occupation (NCO), as EE-relevant. Results indicate that 50.32 hundred thousand workers were employed in EE-relevant product manufacturing roles, accounting for about 8 percent of total manufacturing employment in India in 2023–24. As an EE-enabling catalyst, the paper notes the repair and maintenance segment to play a critical role. The largest contributing industry groups are formed by Repair and Maintenance (23.9 per cent), Construction Materials (12.2 per cent), and Electricals and Electronics (11.1 per cent). The analysis further highlights that EE-relevant employment is predominantly made up of high-skilled workforce (50.6 percent). To ensure a robust analysis, the paper employs a dual assessment framework comprising both output-based and task-based approaches, triangulated with data from the Periodic Labour Force Survey (PLFS). Additionally, select occupational tasks were validated via a mapping between the Occupational Information Network (O*NET) Green Economy Program occupation database and NCO. |
| Keywords: | energy efficiency, employment, skilling competitiveness, icrier |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:bdc:wpaper:435 |
| By: | Davide Domenico Pace (LMU Munich, CesIfo); Johanna Kober (LMU Munich) |
| Abstract: | International climate negotiations focus on three distinct climate change costs: mitigation, adaptation and loss and damage. This paper measures voters' fairness views about how these costs should be allocated between nations, and investigates whether fairness views and beliefs about a country's responsibility matter for policy support. In an online survey experiment, the paper finds that fairness views vary with the type of cost, that voters underestimate their country responsibility, and that fairness views and beliefs jointly predict voters' climate policy preferences. The paper also implements tailored treatments to test whether fairness views and beliefs causally affect policy support, but it finds no evidence of a causal link. The results highlight that, to be consistent with citizens' fairness ideals, the international distribution of mitigation costs should differ from the one of adaptation and loss and damage. |
| Keywords: | climate change; international negotiations; policy support; fairness; misperceptions; |
| JEL: | D63 D91 F53 H41 Q54 |
| Date: | 2026–08–30 |
| URL: | https://d.repec.org/n?u=RePEc:rco:dpaper:584 |
| By: | Robert Dalton; Aidan O'Sullivan |
| Abstract: | Renewables now dominate Great Britain's generation mix but rarely occupy the marginal price-setting position, which raises the question of which flexible technologies translate a renewable-rich system into real-time price formation. This study reconstructs the price-ranked edge of the eligible bid or offer stack in the GB Balancing Mechanism across 50, 684 half-hourly Settlement Periods from 2023 to 2025 and attributes it to individual Balancing Mechanism Units, separating long-system bid-active from short-system offer-active conditions and retaining co-marginal ties. Batteries rose from 0.8% to 36.2% of bid-active and from 3.2% to 26.9% of offer-active marginality, displacing combined-cycle gas on the bid side and pumped storage on the offer side. Capacity-normalised marginal capture rose on both sides, and unit-quarter fixed effects show that an additional 100 MW of Balancing Mechanism active capacity was associated with a 0.55 and 0.48 percentage-point increase in quarterly bid- and offer-side marginal share. By 2025, battery actions were around {\pounds}9 to 10/MWh more favourable than volume-matched non-battery alternatives drawn from the same ladder, yet batteries were under-represented by 12.9 percentage points in the highest-priced 5% of short-system periods. Individual batteries remain consistent with price-taking, while the fleet has become endogenous to routine balancing price formation. |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2608.29818 |
| By: | Jilang Miao; Nonna Sorokina |
| Abstract: | We study whether nuclear and energy-adjacent equity options exhibit a harvestable variance risk premium. Using CRSP and OptionMetrics data for 2000-2024, we construct a systematic cash-secured short-put strategy on a curated universe of nuclear-related firms. The strategy compares at-the-money put implied volatility with GARCH-based realized volatility forecasts, then evaluates unconditional and IV/RV-filtered put-writing portfolios. The results show positive average option premia, high win rates, and substantially lower volatility than an equal-weight stock benchmark, though performance is measured before transaction costs and with a fixed universe. |
| Date: | 2026–09 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2609.01183 |
| By: | Mueller, Lukas; Marcroft, Timothy Peter; Beck, Constantin von; Zeiss, Jan Pedro; Schwanitz, Valeria Jana; Wierling, August; Holstenkamp, Lars |
| Abstract: | This paper examines the emergence of 1, 072 solar initiatives (268 associations and 804 cooperatives operating photovoltaic systems) from 2006 to 2018 in Germany. The study draws on organizational ecology theory to identify factors that influence the likelihood of establishing a solar initiative by investigating the impacts of two opposing effects: legitimation effects and competition effects. We show that the density of medium-scale photovoltaic installations in a district negatively affects the likelihood of establishing a solar initiative, suggesting that competitive dynamics prevail between different market entrants, dampening the emergence of solar initiatives. By contrast, we find that the founding of a solar initiative in a district has a positive effect on the probability of founding other solar initiatives in the same district, confirming legitimacy effects. Further, we show that solar initiatives are more likely to be founded in rural areas, especially in densifying rural areas. |
| Date: | 2026–08–28 |
| URL: | https://d.repec.org/n?u=RePEc:dar:wpaper:161974 |
| By: | Nowzohour, Laura; Noailly, Joëlle |
| Abstract: | This paper examines whether environmental policy uncertainty undermines clean-technology investment in the United States by weakening policy-induced investment incentives. Using quarterly project-level data on U.S. greenfield investments from 2007Q1 to 2019Q1, combined with novel news-based indices that separately measure environmental policy salience and environmental policy uncertainty, we find that policy uncertainty substantially offsets the positive investment effects of environmental policy. At the aggregate level, a one-standard-deviation increase in environmental policy uncertainty eliminates roughly 75% of the policy-induced increase in the number of cleantech projects and around 50% of the increase in capital expenditure. The deterrence effect is substantially stronger for foreign than for domestic investors, consistent with greater informational frictions facing cross-border capital. These effects persist for at least two years following an uncertainty shock and are corroborated by country- and firm-level analyses, though results for capital expenditure are less robust at disaggregated levels. The findings imply that policy credibility is a first-order determinant of clean investment: an environmental policy framework that is ambitious but perceived as unstable may fail to mobilize the capital it is designed to attract. JEL Classification: Q58, F21, F23, E22 |
| Keywords: | environmental policy, foreign direct investment, green investment, policy uncertainty |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:ecb:ecbwps:20263278 |
| By: | Seidel, Christian; Ostermann, Lars; Clausen, Jens |
| Abstract: | In the last two years, interest in the use of heat from river water has grown in leaps and bounds. But how much heat can be extracted from the river on your own doorstep? What are the ecological consequences? Which locations are particularly suitable? Our guide attempts to answer these questions briefly and simply and thus aims to help integrate river water heat into municipal heat planning. |
| Keywords: | Heap Pump, River Water, Climate Change, Energy Efficiency, Sustainable Innovation |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:esrepo:343036 |
| By: | Benjamín Cornejo-Costas |
| Abstract: | This paper examines how cultural diversity of migrant inventors' teams influences a region’s capacity to produce green breakthrough innovations. It posits that highly skilled migrants enhance diversity, driving the recombination of new and impactful green technologies. The research also emphasises the significance of local capabilities in enabling regions to absorb and utilise the diverse knowledge these teams bring. Using patent data and inventor nationalities, the study analyses green breakthrough innovations across 281 NUTS2 regions in Europe over a span of 20 years. The findings reveal that cultural diversity plays a critical role in fostering such innovations. Moreover, this effect is amplified when new technologies are related to existing ones in the region, underscoring the importance of local capabilities. This research contributes to Evolutionary Economic Geography by highlighting how a region’s technological portfolio supports the development of related technologies while emphasising the vital role of diverse knowledge in driving green innovation. |
| Keywords: | cultural diversity, migrant inventors, breakthrough innovations, related capabilities |
| JEL: | F22 J61 O31 O33 Q55 R11 |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:egu:wpaper:2621 |
| By: | Troske, William |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404436 |
| By: | Meriem Salhi (UAE - Université Abdelmalek Essaâdi, Maroc) |
| Abstract: | This study examines the determinants of social acceptance of renewable energy projects in Morocco. It addresses a theoretical and empirical gap: the framework linking social acceptance and inclusive governance, mostly applied in Europe and North America, remains rarely tested in Morocco and North Africa. The study uses a self-administered online questionnaire distributed through LinkedIn to 178 respondents. Twenty-five five-point Likert items measure five constructs. The analyses include internal consistency assessment, descriptive statistics, Pearson correlations, and two multiple linear regressions with HC3 robust standard errors. The main model explains 9.2% of the variance in social acceptance. Transparency (β = 0.157; p = 0.043), institutional trust (β = 0.145; p = 0.038), and perceived socio-economic benefits (β = 0.191; p = 0.009) have positive effects, whereas inclusive governance has no significant direct effect (β = 0.017; p = 0.822). Additional tests detect neither a significant quadratic effect nor a significant interaction with transparency. The findings remain exploratory because of non-probability sampling, moderate internal consistency of the scales, and the model's limited explanatory power. The study therefore distinguishes formal participation from effective territorial legitimation and highlights the importance of clear information, credible institutions, and visible local benefits. |
| Abstract: | Cette recherche examine les déterminants de l'acceptabilité sociale des projets d'énergies renouvelables au Maroc. Elle répond à une lacune théorique et empirique : le cadre associant acceptabilité sociale et gouvernance inclusive, surtout mobilisé en Europe et en Amérique du Nord, reste peu testé au Maroc et en Afrique du Nord. L'étude adopte un design transversal fondé sur un questionnaire auto-administré en ligne, diffusé via LinkedIn, auprès de 178 répondants. Vingt-cinq items de Likert mesurent cinq construits. Les analyses comprennent la fiabilité interne, les statistiques descriptives, les corrélations de Pearson et deux régressions linéaires multiples avec erreurs standards robustes HC3. Le modèle principal explique 9, 2 % de la variance de l'acceptabilité sociale. La transparence (β = 0, 157 ; p = 0, 043), la confiance institutionnelle (β = 0, 145 ; p = 0, 038) et les bénéfices socio-économiques perçus (β = 0, 191 ; p = 0, 009) exercent des effets positifs, tandis que la gouvernance inclusive n'a pas d'effet direct significatif (β = 0, 017 ; p = 0, 822). Des tests complémentaires n'identifient ni effet quadratique ni interaction significative avec la transparence. Les résultats restent exploratoires en raison de l'échantillonnage non probabiliste, de la cohérence interne modérée des échelles et du faible pouvoir explicatif du modèle. Publié dans : International Journal of Accounting, Finance, Auditing, Management and Economics, volume 7, numéro 9, 2026, pp. 301-318. |
| Keywords: | M14. Paper type: Empirical quantitative exploratory research, Morocco. JEL Classification: Q56, renewable energy, Q01, gouvernance inclusive acceptabilité sociale transparence confiance institutionnelle énergies renouvelables Maroc. Classification JEL : Q56 O13 Q01 M14. Type du papier : Recherche empirique quantitative exploratoire inclusive governance social acceptance transparency institutional trust renewable energy Morocco. JEL Classification: Q56 O13 Q01 M14. Paper type: Empirical quantitative exploratory research, gouvernance inclusive, acceptabilité sociale, transparence, confiance institutionnelle, énergies renouvelables, Maroc. Classification JEL : Q56, O13, institutional trust, M14. Type du papier : Recherche empirique quantitative exploratoire inclusive governance, social acceptance, transparency, Morocco, inclusive governance, energy transition |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05711864 |
| By: | Luc Bodiguel (DCS - Droit et changement social - CNRS - Centre National de la Recherche Scientifique - Nantes Univ - UFR DSP - Nantes Université - UFR Droit et Sciences Politiques - Nantes Université - pôle Sociétés - Nantes Univ - Nantes Université) |
| Abstract: | Carbon farming is often represented as a way to offset greenhouse gas emissions from agriculture. The Chapter first examines the paradoxical nature of the relationship between climate change and agriculture and the uncertainties surrounding (i) the potential for carbon reduction and (ii) the assessment of carbon reduction, sequestration and storage. It then directs its focus to the legal framework, which is indeed complex, in that carbon farming falls under two areas of governance that may adopt different approaches. European Union (EU) climate law and policy promote an accounting regime for Member States, which has the capacity to encourage engagement by private companies in the agricultural sector. Within this umbrella regime, attention is directed to two specific legislative initiatives, the Effort Sharing Regulation and Land Use, Land-Use Change and Forestry Regulation, to demonstrate both their scope and shortcomings in practice. The second area of governance of relevance for understanding the legal framework for carbon farming concerns two policy areas which are operational: the Common Agricultural Policy and the Carbon Farming Certification Policy. The Chapter demonstrates how the relevant mechanisms are based upon a contractual approach, or at least on voluntary participation. These developments indicate that carbon farming is 'on the radar' for legislators. However, they also indicate that there remain questions on their effectiveness in regulating carbon farming, which merit further research. |
| Keywords: | Common Agricultural Policy, UE Carbon Farming Certification regulation, EU Climate Policy, Carbon farming |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05724619 |
| By: | Guy Richard (DEPE - Direction de l'Expertise scientifique collective, de la Prospective et des Etudes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Jean-Michel Salles (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); Michel Colombier (IDDRI - Institut du Développement Durable et des Relations Internationales - Institut d'Études Politiques [IEP] - Paris) |
| Abstract: | Les actions mises en place pour faire face au changement climatique et à l'effondrement de la biodiversité sont aujourd'hui insuffisantes.Il est facile de pointer le manque de volonté politique pour l'expliquer, mais ce n'est pas suffisant.La nature des transformations à conduire et les conditions dans lesquelles les démocraties contemporaines doivent les organiser sont aussi à prendre en compte. Comprendre ces contraintes permet de saisir la raison pour laquelle la transition écologique appelle de nouvelles façons de gouverner.Les alertes environnementales sont aujourd'hui largement relayées par les institutions scientifiques internationales. Mais reconnaître un problème ne suffit pas à le résoudre.Au cours des trois dernières décennies, de nombreux pays ont adopté des politiques destinées à lutter contre le changement climatique ou l'érosion de la biodiversité. Les évaluations conduites aussi bien au niveau internationalnotamment dans le cadre du premier Global Stocktake (bilan mondial quinquennal) de l'accord de Paris (art. 14) -qu'au niveau national par des institutions indépendantes, comme le Haut Conseil pour le climat en France ou le Climate Change Committee au Royaume-Uni, dressent un constat convergent : malgré des progrès réels, les politiques mises en oeuvre demeurent insuffisantes pour atteindre les objectifs affichés.Ce décalage est souvent attribué à un manque de volonté voire de courage politique. Séduisante ; l'explication n'en reste pas moins incomplète. |
| Date: | 2026–09–02 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05738319 |
| By: | Sidharth Mallik; Anastasios Megaritis; Waymond Rodgers |
| Abstract: | The impact of web datasets on market prices has suggested the development of new sources of information, such as social media and web portals, indicating the possibility of an emergent phenomenon. We propose a defining perspective, termed open information, that adds to the existing types of public and private information. We demonstrate their existence and justify material significance for pricing. In this respect, we present statistical hypotheses to test for a web dataset, GDELT, integrated for carbon pricing, that is represented by EU Allowance spot prices. Tests are designed with VAR and GARCH-X formulations, and return forecasting. The outcomes cannot rule out the material existence of open information. The result is significant for providing a conceptual basis to integrate a vast number of web datasets as alternative data in investment decisions. |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2608.04929 |
| By: | Valentina Peruzzi; Maria Luisa Signore; Salvatore Vergine |
| Abstract: | This paper investigates how direct exposure to climate-related natural disasters shapes the evolution of climate change beliefs over time. Using survey data collected through face-to-face interviews in Italy, we analyze perceived climate change severity across three temporal horizons (past, present, and future), accounting for heterogeneity in individual characteristics. We first provide regression-based evidence on the relationship between disaster exposure and perceived severity. We then examine belief updating dynamics by estimating non-homogeneous Markov transition matrices conditional on individual traits. Our findings show that exposure to natural disasters is associated with higher climate-related concern and greater persistence in high-severity belief states. Belief updating is heterogeneous: younger and risk-loving individuals tend to revise their perceptions more sharply following exposure, whereas older or risk-averse respondents display more gradual updating patterns. |
| Keywords: | Natural disasters; Climate change beliefs; Field study; Markov model |
| JEL: | Q54 D83 C93 C63 |
| Date: | 2026–02 |
| URL: | https://d.repec.org/n?u=RePEc:sap:wpaper:wp273 |
| By: | Francis Perrin |
| Abstract: | La géographie mondiale des hydrocarbures n'est évidemment pas figée. De nouveaux producteurs de pétrole et/ou de gaz naturel apparaissent suite à des découvertes, le plus souvent réalisées par des compagnies pétrolières internationales. On pense notamment au Mozambique, qui produit et exporte du gaz naturel liquéfié (GNL) depuis la fin 2022, au Sénégal, qui est un producteur de pétrole offshore depuis la mi-2024, et au Sénégal et à la Mauritanie, qui sont devenus conjointement exportateurs de GNL en 2025. Dans ce Policy Brief, nous étudierons les cas du Guyana et de la Namibie, deux pays qui présentent d'intéressantes ressemblances et de notables différences, et qui ont réussi à attirer sur leur territoire des investisseurs pétroliers étrangers de premier plan. |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:pbcoen:pb44_26 |
| By: | Francis Perrin |
| Abstract: | La géographie mondiale des hydrocarbures n'est évidemment pas figée. De nouveaux producteurs de pétrole et/ou de gaz naturel apparaissent suite à des découvertes, le plus souvent réalisées par des compagnies pétrolières internationales. On pense notamment au Mozambique, qui produit et exporte du gaz naturel liquéfié (GNL) depuis la fin 2022, au Sénégal, qui est un producteur de pétrole offshore depuis la mi-2024, et au Sénégal et à la Mauritanie, qui sont devenus conjointement exportateurs de GNL en 2025. Dans ce Policy Brief, nous étudierons les cas du Guyana et de la Namibie, deux pays qui présentent d'intéressantes ressemblances et de notables différences, et qui ont réussi à attirer sur leur territoire des investisseurs pétroliers étrangers de premier plan. |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:pbecon:pb44_26 |
| By: | Mouez Fodha (UP1 - Université Paris 1 Panthéon-Sorbonne); Aude Pommeret (IREGE - Institut de Recherche en Gestion et en Economie - USMB [Université de Savoie] [Université de Chambéry] - Université Savoie Mont Blanc, USMB [Université de Savoie] [Université de Chambéry] - Université Savoie Mont Blanc, OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po); Francesco Ricci (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) |
| Abstract: | This article examines the economic rationale for opening new mines to extract critical raw materials (CRMs) in Europe, in search of strategic autonomy. We use a real-option framework to analyse a government's decision on the optimal timing of such an investment, taking into account mineral prices and domestic economic activity. The model incorporates geoeconomic fragmentation risk as a source of uncertainty that materializes as jumps in CRM prices. While uncertainty would be expected to delay the start of mining operations, our results show that a countervailing effect also exists, which increases the expected value of the developed mine. Furthermore, we show that the development of recycling does not clarify whether advancing extraction is ultimately socially desirable, underscoring the ambiguous theoretical implications of an expanding supply of secondary materials. |
| Keywords: | mining industry, critical raw materials, real options, geopolitical risk, geoeconomic fragmentation, recycling |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05717731 |
| By: | Clausen, Jens; Beucker, Severin |
| Abstract: | Wärmeübertragungsnetze bewähren sich seit den 1970er Jahren. Eine 71 km lange Wärmemagistrale im Raum Aarhus in Dänemark und die Fernwärmeschienen an Ruhr mit 42 km und Saar mit 35 km gehören zu den ältesten langen Wärmeübertragungsleitungen. Die längste der knapp 40 in Europa bekannten Leitungen ist im Raum Kopenhagen knapp 200 km lang. Durch kostengünstige Verlegung von Rohren über landwirtschaftliche Flächen sind die Kosten der Überlandleitungen oft niedriger als bei der Verlegung im städtischen Straßenraum. Die Leitung mit dem größten Durchmesser findet sich zwischen Melnik und Prag und hat 1.200 mm Durchmesser. Die leistungsfähigste Leitung versorgt zahlreiche Gemeinden auf der dänischen Insel Fünen mit 950 MW Wärme. Im Durchschnitt haben die Leitungen trotz ihrer Länge nur einen Verlust von 5 bis 10 % der eingespeisten Wärme. Letztlich handelt es sich um eine seit vielen Jahren bekannte und erprobte Technologie, bei der keine besonderen Risiken drohen. Die Wärmeübertragungsnetze werden oft von Unternehmen betrieben, die nicht identisch sind mit den Verteilnetzbetreibern, die die Wärme zu den Endkunden transportieren. In Kopenhagen gibt es sogar eine weitere Institution, in der Wärmemengen day-ahead und intra-day gehandelt werden. So können die Kundinnen und Kunden immer auf einen kostenoptimalen Wärmemix vertrauen. Und einige Verteilnetzbetreiber in Dänemark müssen Aufschläge zahlen, wenn sie die Wärme mit einer zu hohen Temperatur wieder in den Rücklauf einspeisen. Denn dadurch wird ein Wärmeübertragungsnetz ineffizient und es bringt wenig, die Wärme erst zu den Kundinnen und Kunden zu pumpen und dann, nur um Weniges abgekühlt, wieder zurück zur Wärmeerzeugungsanlage. Eine große Herausforderung ist gegenwärtig die überall laufende Dekarbonisierung der Fernwärme. Dafür werden große Mengen klimafreundlicher Wärme benötigt. Abwärme aus Rechenzentren kann hierzu einen wichtigen Beitrag leisten. Das macht es zunehmend attraktiv, solche Wärmequellen zu erschließen und die kostengünstige Wärme bei Bedarf auch über große Entfernungen zu neuen Fernwärmekunden zu transportieren. Gerade die oft riesigen neuen Rechenzentren produzieren so viel Abwärme, die eine einzige Stadt oft gar nicht nutzen kann. Diese Wärme muss dann an mehrere Städte verteilt werden. Wirtschaftlichkeitsanalysen lassen erwarten, dass sich, zumindest bei großen Wärmeleistungen oberhalb von 50 oder 100 MW, Leitungen von 10 oder 20 km durchaus bezahlt machen können. Denn alternativ müsste sonst eine andere Wärmeerzeugungsanlage ohne Treibhausgasemissionen gebaut und finanziert werden. Besonders gut stehen gemeinnützige Wärmeversorger da, wie es sie z.B. in Dänemark gibt, denn sie können auch mit langen Abschreibungszeiträumen umgehen. Der wirtschaftliche Nutzen eines Wärmeübertragungsnetzes, das verschiedene Wärmenetze verbindet, besteht in der optimierten Nutzung der kombinierten Produktionskapazitäten. Je nach Marktlage kann zeitweise eine Wärmepumpe oder eine Power-to-Heat-Anlage günstigere Wärme produzieren und zu anderen Zeiten kann die Verbrennung von Biogas günstiger sein. Je nachdem, welche Anlagen im Netz verfügbar sind, kann so optimal gewirtschaftet werden. Wenn billigere Quellen verfügbar sind, werden sie genutzt und die Wärmepreise sinken. Eine wichtige Randbedingung für den Bau von Wärmetransportnetzen ist die politische Entschlossenheit, den Fernwärmesektor als Säule der klimafreundlichen Wärmeversorgung zu unterstützen. Nicht nur Pull-, sondern auch Push-Instrumente sind erforderlich. Steuern auf alle fossilen Brennstoffe (Kohle, Öl und Gas) wie in Skandinavien verbessern die Wettbewerbsfähigkeit klimafreundlicher Alternativen wie z.B. Fernwärme auf Basis von Abwärme. Das Vertrauen in große Investitionen in die Infrastruktur fußt auf der konsequenten Umsetzung von Klimapolitik und Emissionshandel. |
| Keywords: | Wärmeübertragungsnetze, Wärmetransport, Fernwärme, Abwärmenutzung, Rechenzentren, Dekarbonisierung, Wärmewende |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:esprep:343034 |
| By: | Wayne B. Gray; Ronald Shadbegian; Ann Wolverton |
| Abstract: | We investigate whether, by providing better and more timely information, the first mandatory online reporting and auditing program for wastewater discharge releases in the U.S. improved facility compliance and environmental performance, while also allowing state regulators to more effectively monitor and enforce regulations. Examining reporting programs with automated feedback features can also offer insights into the potential for artificial intelligence-based tools to improve compliance and environmental performance. Difference-in-difference results suggest that the program resulted in significant increases in the completeness of reporting and reductions in discharges but also greater reported violations. We find that effects are larger for minor dischargers and publicly owned facilities. We also find evidence consistent with the more efficient targeting of inspections by state authorities towards plants with a history of recent noncompliance, which could be a potential mechanism driving these results. |
| JEL: | Q53 Q58 |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:35525 |
| By: | Francesco Paolo Mongelli; Claudio Morana |
| Abstract: | We study the distributional dynamics of extreme weather in Europe and its macroeconomic and financial consequences, distinguishing climate risk from climate uncertainty. Using a balanced panel of forty European countries over 1981-2024 and the E3CI composite index and its seven hazard components, we condition the distribution of extreme weather on anthropogenic radiative forcing and natural climate oscillators, measuring climate risk by the conditional median and climate uncertainty by the conditional interquartile range. Both moments respond nonlinearly to greenhouse gas concentrations. Still, the contribution of natural forcing is asymmetric: climate risk reflects anthropogenic and natural drivers, whereas climate uncertainty is predominantly anthropogenic, with wildfires as the main exception. The post-2010 acceleration in warming is reflected in both moments, although with distinct spatial patterns. Both risk and uncertainty depress economic activity through a common productivity channel: real wages absorb most of the efficiency loss, consumption contracts by more than output, and labor utilization remains largely unchanged. Uncertainty effects are roughly twice as large as risk effects for a typical annual change, and their incidence is governed more by countries' absorptive capacity than by physical exposure, making climate change a source of economic divergence within Europe. In financial markets, climate exposures are concentrated in the uncertainty measures, with the value factor loading negatively on maximum-temperature and wildfire uncertainty and risk. Overall, the evidence is consistent with irreversibility and precautionary behavior as important mechanisms through which climate uncertainty affects macroeconomic activity and asset prices. |
| Keywords: | climate change uncertainty; extreme weather; panel quantile regression; general-to-specific model selection; climate attribution; irreversibility; Fama-French factors; Europe. |
| JEL: | C23 C21 Q54 E32 G12 |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:mib:wpaper:581 |
| By: | Bendiek, Annegret; Holste, Svenja |
| Abstract: | To date, the Arctic has played only a minor role in European efforts to achieve digital sovereignty. Yet digital infrastructure in the High North is a key component of this endeavour. The European Union's (EU) Arctic Strategy, which is due to be updated this year, should therefore not be limited to traditional security issues. This is particularly true in light of hybrid threats in the Baltic Sea region. Of particular importance are European projects to expand Arctic submarine cable infrastructure, which constitute critical infrastructure. However, these initiatives require an ambitious EU that recognises its capacity to deliver innovation and sustainability in the development of green technologies. |
| Keywords: | European Union (EU), Arctic Strategy, digital sovereignty, submarine cable infrastructure, critical infrastructure, Arctic Council, West Arctic Passage, Polar Passage, Polar Connect, Far North Fiber |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:swpcom:343141 |
| By: | Kaijing Ding; Lu Dai; Mark Hansen |
| Abstract: | This study provides a method to quantify the benefits of shifting passenger traffic from air to high-speed rail from the perspective of flight-delay cost reduction. We first estimate the number of flight reductions for airport origin-destination pairs based on the high-speed rail ridership forecasts provided in the California High-Speed Rail 2020 Business Plan, and then distribute these flight reductions to quarter-hour intervals. Lasso models are applied to estimate the impact of reduced queuing delays at SFO, LAX, and SAN on arrival delays at the national Core 29 airports. These delay reductions are then monetized using aircraft operating costs and the value of passenger time. We evaluate alternative airport-capacity and flight-schedule scenarios, as well as multiple percentiles of probabilistic high-speed rail ridership forecasts. The resulting estimates indicate flight-delay cost savings of $51-88 million in 2018 dollars in 2029 and $235-392 million in 2018 dollars in 2033. |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2608.05636 |
| By: | Francis Perrin |
| Abstract: | Les relations, très étroites, entre l’énergie et la géopolitique sont bien connues. Cela vaut aussi pour plusieurs conflits armés. Mais, dans la période récente, le conflit le plus lié à l’énergie est la guerre d’Iran de 2026, qui a débuté le 28 février. Un cessez-le-feu est en vigueur depuis le 8 avril et un protocole d’accord a été signé le 17 juin par l’Iran et les États-Unis. Mais, comme le montrent les attaques de l’Iran contre des navires et les frappes américaines de ces derniers jours (entre le 6 et le 13 juillet – date de la fin de la rédaction de ce Papier), les hostilités sont loin d’être terminées. Cette guerre n’est d’ailleurs pas liée à une énergie mais à trois, le nucléaire et les hydrocarbures (pétrole et gaz naturel). Et ces relations sont multiples et de nature diverse, comme nous allons le développer dans ce Policy Brief. |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:pbcoen:pb41_26 |
| By: | Römer, Daniel; Rode, Johannes |
| Abstract: | Die Energiewende erhält wieder Rückenwind: Vor allem die Bereitschaft der Haushalte, selbst aktiv zu werden, ist deutlich gestiegen – von 59 % im Vorjahr auf nun 66 %. Auch der Technologiehochlauf kommt voran: Rund 14 Mio. Haushalte bzw. 34 % nutzen mindestens eine Energiewendetechnologie. Damit sind innerhalb eines Jahres 1, 1 Mio. Haushalte neu hinzugekommen. Besonders dynamisch entwickeln sich Aufdach-Photovoltaik und Elektroautos. Inzwischen haben 53 % der Haushalte Zugang zu grünem Strom – im Vorjahr waren es 47 %. Wie stark Haushalte an der Transformation teilhaben, hängt insbesondere von Einkommen und Wohnsituation ab: Im obersten Einkommensquartil nutzen 51 %, im untersten 20 % mindestens eine Energiewendetechnologie; in selbstbewohnten Ein- und Zweifamilienhäusern sind es 59 %, in Mietwohnungen 15 %. Damit die Transformation alle Haushalte erreicht, bleiben Wirtschaftlichkeit, gezielte Investitionsförderung und passende Informationsangebote entscheidend. |
| Date: | 2026–08–27 |
| URL: | https://d.repec.org/n?u=RePEc:dar:wpaper:161976 |
| By: | Edward L. Glaeser |
| Abstract: | Will 21st century transportation innovations work against urban density, as the car did in the 20th century, or promote urban centralization, as the railroad did in the 19th century? Reducing the cost of commuting always reduces urban centralization in the classic Alonso-Muth-Mills model but that result reverses if the number of trips is endogenous and the elasticity of trips with respect to their costs is greater than one. That elasticity may have increased over time, as an increasing share of daily trips seems to be discretionary and city centers increasingly provide entertainment. This paper asks discusses the urbanizing effects of four trends in transportation technology: shared mobility (such as Uber), autonomy (such as Waymo), vertical travel and green mobility, as provided by bike lane. As people spend more time travelling in denser, large areas, innovations that reduce the time cost of travel, such as autonomous cars, seem likely to complement urban living, as long as they don’t excessively increase traffic. Sharing is also easier in big cities, so technologies that involve sharing are also centripetal. The other trends seem less likely to have major effects. Moreover, the forces of inertia, which include both regulation and legacy infrastructure, are likely to limit the impact of any new technologies in Europe and the U.S., so that the biggest changes in urban form are likely to appear in east Asia and the developing world. |
| JEL: | O33 R00 R40 |
| Date: | 2026–09 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:35718 |
| By: | Clausen, Jens; Beucker, Severin |
| Abstract: | Die Wärmeversorgung transformiert sich gegenwärtig radikal. Mit dem Gebäudeenergiegesetz, dem ihm folgenden Gebäudemodernisierungsgesetz sowie dem Gesetz für die Wärmeplanung und zur Dekarbonisierung der Wärmenetze haben Bundesregierungen Weichenstellungen zur Vermeidung von CO2-Emissionen gegeben. Nun ist es an den Kommunen, ihre Wärmeversorgung fossilfrei und nachhaltig umzubauen. Zudem wird der Verbrauch an Strom deutlich wachsen. Um durch Elektrifizierung der Anwendungen in Mobilität, Gebäuden und Industrie, die fossilen Kraftstoffe sowie die Brennstoffe Erdgas und Heizöl abzulösen, werden mehrere hundert TWh/a Strom zusätzlich benötigt. Dieser Strom muss produziert, ggf. gespeichert und über Netze verteilt werden. Weiter in die Höhe getrieben wird der Stromverbrauch durch neue Rechenzentren und die Herstellung von Wasserstoff durch Elektrolyse. In absehbarer Zeit werden Rechenzentren einen jährlichen Strombedarf von über 30 TWh haben, so dass wesentliche Mengen Abwärme in Wärmenetze eingespeist werden könnten. Sowohl im Bereich der Rechenzentren wie auch bei den Elektrolyseuren ist dabei gegenwärtig die Tendenz erkennbar, Einheiten zu planen, die sehr hohe Leistungen haben und daher auch sehr große Mengen an Abwärme bereitstellen könnten. Obwohl der Bedarf an Wärme zur Heizung der Gebäude sehr groß ist und die Wärmenetze gegenwärtig stark ausgebaut werden, kann die insgesamt zukünftig zur Verfügung stehende Abwärmemenge nur dann einer sinnvollen Nutzung zur Heizung zugeführt werden, wenn zwei Dinge gelingen: Die Abstimmung der Größe der Projekte mit ihren Abwärmepotenzialen auf die Aufnahmefähigkeit angeschlossener Wärmenetze. Die anteilige Speicherung der im Sommer anfallenden Abwärmemenge in Saisonalspeichern. Beide Wärmequellen - Rechenzentren und Elektrolyseure - versprechen im Gegensatz zu anderen Abwärmepotenzialen einen langfristig sicheren Betrieb. Welche Wärmemenge aber zukünftig an welchen Orten zur Verfügung gestellt werden könnte und welche Anforderungen bei der Standortwahl (z.B. Sicherheitsanforderungen, Kostenaspekte, Anbindung an notwendige Infrastrukturen) existieren, kann von kommunalen Endscheiderinnen und Entscheidern bisher kaum beurteilt werden und Vernetzungen mit anderen Akteuren finden kaum statt. Auch hinsichtlich der technologischen Alternativen (z.B. groß/zentral oder kleiner/dezentral) und Umsetzungsvoraussetzungen wie Sicherheitsaspekten und Netzanschlüssen besteht eine Informationslücke. Dies führt dazu, dass es trotz der benannten Vorteile bisher kaum gelingt, die Abwärme von Rechenzentren und Elektrolyseuren in die kommunale Wärmeplanung zu integrieren. Mit der hier vorliegenden primär technischen orientierten Basisanalyse soll ein erster Schritt zur Beantwortung der zentralen Frage unseres Projektes getan werden: Wie können Ansiedlungen neuer großer Stromverbraucher wie Rechenzentren und Elektrolyseure mit Stromnetzen sowie dem lokale Wärmebedarf durch kommunale Entscheiderinnen und Entscheider besser aufeinander abgestimmt werden? |
| Keywords: | Kommunale Wärmeplanung, Abwärmenutzung, Rechenzentren, Elektrolyseure, Wärmenetze, Stromnetze, Wärmespeicher, Wärmeversorgung, Dekarbonisierung, Energieinfrastruktur |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:esprep:343035 |
| By: | Mehran Haghirian |
| Abstract: | The war on Iran and in the Gulf has made it impossible to treat the Strait of Hormuz as a regional issue. The disruption around the Strait has moved through the world economy in concrete ways, from higher fuel bills and pressure on food and fertilizer supply chains to rising costs for households and companies far from the conflict. This policy brief examines how Hormuz became one of the main channels through which the costs of the war spread beyond the Gulf. It argues that the crisis exposed the extent to which global markets, food systems, industrial production, mobility, and development finance are tied to the Gulf’s stability. The real issue now is how the Gulf states and their partners can build greater resilience once the war fully ends. |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:pbcoen:pb28_26 |
| By: | Fulvi, Chiara; Stiroh, Kevin |
| Abstract: | US-based global systemically important banks (G-SIBs) remain focused on managing climate risks and are developing new ways of identifying and assessing such risks, even as they are publicly scaling back their net zero commitments and the US policy environment moves away from dedicated supervision of climate-related risks. It is vital to understand how banks are managing these risks and how disclosure can provide investors, counterparties and policymakers with decision-useful information. We examined the public disclosures of six large US banks to assess how they incorporate climate-related risk drivers into risk management practices and business strategies: Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo. All these banks have been designated as systemically important in the US. |
| JEL: | F3 G3 |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:140783 |