nep-env New Economics Papers
on Environmental Economics
Issue of 2023‒07‒10
87 papers chosen by
Francisco S. Ramos
Universidade Federal de Pernambuco

  1. Does Green Transition promote Green Innovation and Technological Acquisitions? By BOSE Udichibarna; GREGORI Wildmer; MARTINEZ CILLERO Maria
  2. The Social Cost of Carbon under Climate Volatility Risk By Xu Lin; Sweder van Wijnbergen
  3. Foreign direct investment, stock market capitalization and sustainable development: Relative impacts of domestic and foreign capital By Destek, Mehmet Akif; Sohag, Kazi; Aydın, Sercan; Destek, Gamze
  4. Is export quality a viable option for sustainable development paths of Asian countries? By Manga, Muge; Cengiz, Orhan; Destek, Mehmet Akif
  5. Behavioural science for sustainable tourism: Insights and policy considerations for greener tourism By Chiara Varazzani; Michaela Sullivan-Paul; Henrietta Tuomaila
  6. Corporate cost of debt in the low-carbon transition: The effect of climate policies on firm financing and investment through the banking channel By Filippo Maria D’Arcangelo; Tobias Kruse; Mauro Pisu; Marco Tomasi
  7. Climate change and banking sector (in)stability in Kenya: A vulnerability assessment By Kimundi, Gillian; Wambui, Reuben
  8. Sustainable financing, climate change risks and bank stability in Kenya By Odongo, Maureen; Misati, Roseline Nyakerario; Kageha, Caren; Wamalwa, Peter Simiyu
  9. The greening of Kenya's banking sector: Macro-financial stability implications of a low carbon transition By Talam, Camilla C.; Maru, Lucy
  10. Optimal Climate and Monetary-Fiscal Policy in a Climate-DSGE Framework By Lorenzo Forni; Mehrab Kiarsi
  11. Green jobs and the city: Towards a just transition in developing countries By Kleibrink, Alexander; Pegels, Anna; Fink, Michael; Scholz, Wolfgang
  12. 인도의 신ㆍ재생에너지 시장 및 정책 분석과 한-인도 협력 방안(Analysis of India’s New and Renewable Energy Market and Policies and Implications for Korea-India Cooperation) By Han, Hyoungmin; Kim, Jeong Gon; Kim, Doyeon; Pek, Jong Hun; Kim, Soeun
  13. Bard evaluates US climate bill By Bard, AI
  14. Proceedings of the 5th Symposium on Agri-Tech Economics for Sustainable Futures By Behrendt, Karl; Paparas, Dimitrios
  15. Assessing Climate Mitigation Benefits of Public Support to CCS-EOR: An Economic Analysis By Hossa Almutairi; Axel Pierru
  16. 중국의 녹색금융 발전전략과 주요내용(China’s Green Finance Strategy:the Policy and the Market ) By Moon , Jiyoung; Lee, Hyojin
  17. 중국 도시의 녹색전환 정책과 시사점(Green Transition Policy and Implications of Chinese Cities) By Choi, Wonseok; Jung, Jihyun; Pak, Jinhee; Lee, Hanna; Choi, Jiwon; Kim, Joo Hye
  18. Governments and companies must address climate and governance risks when petroleum assets change hands By Woodroffe, Nicola; Westenberg, Erica
  19. An Approximate Feasibility Assessment of Electric Vehicles Adoption in Nigeria: Forecast 2030 By Qasim Ajao; Lanre Sadeeq
  20. Climate Change and Security Implications By Alexandru Petrea
  21. The Joint Crediting Mechanism in the Paris Agreement Era: The Challenges of and Potential for Future Saudi-Japanese Cooperation By Shigeto Kondo
  22. Methane Emissions Baseline Forecasts for Saudi Arabia Using the Structural Time Series Model and Autometrics By Anwar Gasim; Lester C. Hunt; Jeyhun Mikayilov
  23. How an international agreement on methane emissions can pave the way for enhanced global cooperation on climate change By Kimberly A. Clausing; Luis Garicano Bruegel; University of Chicago Booth School of Business; Catherine Wolfram
  24. The Impact of Mining on the Ghanaian Economy: A Comprehensive Review (1992-2020) By Yeboah, Samuel; James Nyarkoh, Bright
  25. Does COVID-19 Help or Harm the Climate? Modelling Long-run Emissions under Climate and Stimulus Policies By Paolo Zeppini; Jeroen C.J.M. van den Bergh
  26. "Carbon Management": Chancen und Risiken für ambitionierte Klimapolitik By Schenuit, Felix; Böttcher, Miranda; Geden, Oliver
  27. Urban Transport Energy Demand Model for Riyadh: Methodology and Preliminary Analysis By Abu Toasin Oakil; Ahm Mehbub Anwar; Alma; Nourah Al Hosain; Abdelrahman Muhsen; Anvita Arora
  28. Temporal and design approaches and yield-weather relationships By Tappi, Marco; Carucci, Federica; Gatta, Giuseppe; Giuliani, Marcella Michela; Lamonaca, Emilia; Santeramo, Fabio Gaetano
  29. Certificaciones empresariales de sostenibilidad en América Latina y el Caribe By Araya, Nicolás; Correa, Felipe
  30. Costs and benefits of the green transition envisaged in the italian NRRP. An evaluation using the Social Cost of Carbon By Matteo Alpino; Luca Citino; Federica Zeni
  31. Regional impact of climate change on European tourism demand By MATEI Nicoleta-Anca; GARCIA LEON David; DOSIO Alessandro; BATISTA Filipe; RIBEIRO BARRANCO Ricardo; CISCAR MARTINEZ Juan Carlos
  32. A Choice Experiment of Wyoming Residents’ Preferences Toward Water Resilience Improvement Programs By Van Sandt, Anders T.; Hansen, Kristiana M.; Ehmke, Mariah D.; Shinker, JJ; Paige, Ginger; Keller, Mary; Cooper, Kaatie; Landreville, Kristen Dawn
  33. Culture Tower By Khuc, Quy Van
  34. Lessons from Gulf Cooperation Council Countries’ Participation in the Clean Development Mechanism By Mari Luomi; Thomas Bosse; Zlata Sergeeva
  35. Social welfare Promotion, Carbon Emission and Tax By Ellalee, Haider; Alali, Walid Y.
  36. The dark side of green innovation? Green transition and regional inequality in Europe By Nils Grashof; Stefano Basilico;
  37. Comparison of policies for increasing sustainable transport mode shares in Swedish cities By Pyddoke, Roger
  38. The Dynamic Role of Subsidies in Promoting Global Electric Vehicle Sales By Tamara Sheldon; Rubal Dua
  39. Nudging Via Text Reminders: Can Behavioural Economics Increase the Adoption of Conservation Agriculture-based Sustainable Intensification Technologies in South Asia? By Rola-Rubzen, Maria Fay; Sarmiento, Jon Marx; Villano, Renato A.; Murray-Prior, Roy; Khan, Md. Farid Uddin; Alam, Md Mahafuj; Timsina, Krishna Prasad; Das, Kalyan K.
  40. Can behavioural profiling explain smallholder farmers’ adoption decisions of Conservation Agriculture-based Sustainable Intensification Technologies? By Villano, Renato A.; Rola-Rubzen, Maria Fay; Sarmiento, Jon Marx; Murray-Prior, Roy; Khan, Md. Farid Uddin; Rashid, Mamunur; Timsina, Krishna Prasad; Das, Kalyan K.; Ghosh, Arunava
  41. “The nexus between variable renewable energy, economy and climate: Evidence from European countries by means of exploratory graphical analysis” By Christina Carty; Oscar Claveria
  42. Machine Learning for Socially Responsible Portfolio Optimisation By Taeisha Nundlall; Terence L Van Zyl
  43. Air Pollution, Smoky Days and Hours Worked By Ron Chan; Martino Pelli; Veronica Vienne
  44. The impact of flood risk on real estate wealth in Italy By Michele Loberto; Matteo Spuri
  45. Global Perspectives on ESG and Implications for Korea By Moon, Jin-Young; Yoon, Sang-Ha; Park , Jiwon; Na, Seung Kwon; Lee, Sunghee
  46. Coupling optimization with territorial LCA to support agricultural land-use planning By Tianran Ding; Bernhard Steubing; Wouter Achten
  47. City Shape and Air Pollution By Gallé, Johannes
  48. Assessing the Future of Oil and Gas Production and Local Government Revenue in Five Western US Basins By Prest, Brian C.; Raimi, Daniel; Whitlock, Zachary
  49. Irrigation Organizations: Groundwater Management By Hrozencik, Aaron; Gardner, Grant; Potter, Nicholas; Wallander, Steven
  50. Ecotourism for Transformative and Youth Development in sub-Saharan Africa: the Role of Corporate Social Responsibility in Nigeria’s Oil Host Communities By Joseph I. Uduji; Elda N. Okolo-Obasi
  51. Estado del arte de la cooperación internacional para el desarrollo con foco en la cooperación Sur-Sur y triangular: estudio analítico del conocimiento acumulado 2013-2022 By Hernández Rosario, Anna Cristina
  52. The Environmental Impacts of Microfinance: An Empirical Study of Index-Based Livestock Insurance and East African Rangelands By Wilcox, Steven W.; Barrett, Christopher B.; Jensen, Nathaniel; Sun, Ying; Clark, Patrick; Soto, Gerardo E.; Kahiu, Njoki; Fava, Francesco P.; Porter, Benjamin
  53. Concilier impératif humanitaire et transition écologique dans d'anciens territoires colonisés : le cas des ONG françaises de solidarité internationale By Vincent Pradier
  54. Cotton made in Africa: A case study of sustainable production through responsible consumption By Peltzer, Roger; Brüntrup, Michael
  55. Do Green Users Become Green Voters? By Comin, Diego; Rode, Johannes
  56. Отчитането на устойчивостта - липсващата част от пъзела на счетоводното образование By Atanasov, Atanas
  57. Objetivos de desarrollo sostenible desde la perspectiva contable. Análisis de caso en Mar del Plata, Argentina By Rodriguez, Julieta A.; Magnoni, Juan Máximo; D'Onofrio, Paula; Lupín, Beatriz
  58. Policy diffusion, environmental federalism and economic efficiency : how culture and institutions influence the implementation of EU legislation in two Nordic countries By Nerhagen, Lena; Jussila Hammes, Johanna
  59. Perfect So Far? Substitutability Between Wind & Solar and Dirty Electricity Generation By Anthony Wiskich
  60. 기후변화에 따른 아프리카ㆍ중동의 식량안보 위기와 한국의 협력방안(Impacts of Climate Change and Policy Implications on Food Security in Africa and the Middle East) By Kang, Munsu; Han, Seoni; Son, Sung Hyun; Kim, Yejin; Jeong, Minji; Park, Kyu Tae
  61. Wissenspolitik im Kontext der internationalen Klimaverhandlungen: Der IPCC-Synthesebericht wird die COP28 und den Global Stocktake prägen By Hansen, Gerrit; Geden, Oliver
  62. What can governments do to boost FDI for sustainable development? By Wermelinger, Martin
  63. State-of-the-art in international development cooperation, with a focus on South-South and triangular cooperation: analytical study of knowledge accrued, 2013–2022 By Hernández Rosario, Anna Cristina
  64. 국내외 ESG 평가사별 점수 비교: 국내 기업을 중심으로(Comparison of ESG Raters and Rating Scores: Focusing on Korean Firms) By Park, Jiwon; Lee, Yerim
  65. CO2 emissions reduction from residential buildings: cost estimate and policy design By Riccardo Camboni; Alberto Corsini; Raffaele Miniaci; Paola Valbonesi
  66. Estudo comparativo sobre normas e critérios de patenteabilidade de invenções biotecnológicas. Sumário executivo By -
  67. Science Diplomacy By Julia M. Puaschunder
  68. Water security in Iraq By Shapland, Greg
  69. Temperature and Joint Time Use By Cosaert, Sam; Nieto, Adrián; Tatsiramos, Konstantinos
  70. Natural Resource Exploration as Intangible Investment By Rachel Soloveichik
  71. Bard comments on how mindsponge theory and BMF analytics can be employed to study organizational vision By Bard, AI
  72. Social Sustainability of Digital Transformation: Empirical Evidence from EU-27 Countries By Saeed Nosratabadi; Thabit Atobishi; Szilard HegedHus
  73. The Connectivity Trap: Stuck Between the Forest and Shared Prosperity in the Colombian Amazon By Patricio Goldstein; Timothy Freeman; Alejandro Rueda-Sanz; Shreyas Gadgin Matha; Sarah Bui; Nidhi Rao; Timothy Cheston; Sebastian Bustos
  74. DYNAMICS OF GLOBAL AGRICULTURAL PRODUCTIVITY AND DEMOCRATIC GOVERNANCE STRUCTURE: LOOKING AT EFFECTS AND DIRECTIONS TO SUSTAINABLE FOOD SUPPLY By Nmadu, Job Nda; Mohammed, Usman S.; Nmadu, Yebosoko T.; Sallawu, Halima; Nmadu, Sokoyami B.; Ndanitsa, Mohammed A.; Yisa, Ezekiel S.; Baba, Kpotun M.; Amos, Taiwo T.; Jirgi, Abigail J.
  75. Assessing the Impact of International Monetary Fund Programs on The Ghanaian Economy: A Review of the Period Between 1992 And 2020 By yeboah, samuel; James Nyarkoh, Bright
  76. Reconnecting the Broken Bonds: Environment, Politics, Economics and the State of the World By Pilon, André Francisco / AF
  77. The Economics of Forest Fuel Removals on Federal Lands By Wibbenmeyer, Matthew; Joiner, Emily; Wear, David N.
  78. Die arktische Sicherheitspolitik der USA: Amerikanische Arktisstrategien, russische Hybris und chinesische Ambitionen By Paul, Michael
  79. 한-호주 공급망 협력 방향: 핵심광물과 수소를 중심으로(Korea-Australia Supply Chain Cooperation: Focus on Critical Minerals and Hydrogen) By Cho, Seung Jin; Shin, Minlee
  80. Too Different To Get Along: Inequality and Global Public Goods By Margherita Bellanca; Alessandro Spiganti
  81. Public Procurement and the Risk of Severe Weather Events By Andrea Bafundi; Riccardo Camboni; Edoardo Grillo; Paola Valbonesi
  82. Distribution Hosting Capacity Tool By Khalid Alhadhrami
  83. Sobre la gestión del agua en España: dos cuestiones a considerar By José Luis Hervás
  84. 2022 annual report By International Food Policy Research Institute (IFPRI)
  85. Economic Globalisation and Africa’s Quest for Greener and More Inclusive Growth: The Missing Link By Isaac K. Ofori; Andreas Freytag; Simplice A. Asongu
  86. Frequency Regulation with Storage: On Losses and Profits By Dirk Lauinger; Fran\c{c}ois Vuille; Daniel Kuhn
  87. "The Problem of the Social Cost" and the Legal Rights Question By Gérard Mondello

  1. By: BOSE Udichibarna; GREGORI Wildmer; MARTINEZ CILLERO Maria (European Commission - JRC)
    Abstract: Our study explores the implications of technological shifts towards greener and sustainable innovations on acquisition propensity between firms with different technological capacities. Using a dataset of completed control acquisition deals over the period of 2009-2020 from 23 OECD countries, we find that green acquirors (i.e., firms with green patents) are more inclined to enter into acquisition deals with green firms due to their technological proximity and informational advantages. However, after the Paris Agreement, green acquisitions by non-green acquirors increased especially from those in climate policy-relevant sectors and based in countries with low environmental standards. We also find that green acquisitions after the Paris Agreement do not show any significant impact on their post-acquisition innovation performances, raising concerns related to greenwashing behaviour by investing firms.
    Keywords: Acquisitions, Green patents, Firm Innovation, Paris Agreement, Green Transition
    Date: 2023–05
  2. By: Xu Lin (University of Amsterdam); Sweder van Wijnbergen (University of Amsterdam)
    Abstract: We calculate the social cost of carbon (SCC) under stochastic climate volatility resulting from uncertainty about future climate risk regimes where weather extremes are becoming more frequent and intense. Using a stochastic dynamic integrated climate-economy model where representative agents are endowed with Duffie-Epstein recursive preferences, we find that climate volatility risks substantially increase the SCC both in the business-as-usual and optimal abatement policy scenario. We also show that switching to a regime with more intense disasters increases the SCC more than a switch to a regime with more frequent disasters for equal expected value. Overall we show that stochastic volatility has a major impact on the SCC.Classification-JEL: G12, G13, Q51, Q54
    Keywords: stochastic volatility, social cost of carbon, climate damage, Duffie-Epstein preference
  3. By: Destek, Mehmet Akif; Sohag, Kazi; Aydın, Sercan; Destek, Gamze
    Abstract: It is well acknowledged that achieving sustainable development goals without negatively impacting a country's economic activity is complicated. The question of whether foreign or domestic capital can be used to address the financial demands of the nations who lack the financial resources for a green transformation should now be resolved. Based on this, the main goal of this research is to analyze the impacts of domestic and foreign capital on carbon emissions for a heterogeneous panel of 42 countries for the period from 1990 to 2017. Aside from capital accumulation, the environmental impact of elements such as economic growth, urbanization, trade openness, and energy usage are also studied. The newly developed quantile via moment approach is utilized to isolate the impacts according to the countries' emission levels. Finally, the impact of these variables on the recently constructed sustainable development index is investigated in order to ensure its robustness. The findings of the study reveal that the environmental efficiency of domestic capital accumulation in countries with low emission levels is higher than in countries with high emission levels. Foreign capital, on the other hand, has no substantial effect on emission levels in all quantiles.
    Keywords: Stock market capitalization; foreign direct investment; carbon emissions, sustainable development
    JEL: Q5 Q58
    Date: 2022–09–21
  4. By: Manga, Muge; Cengiz, Orhan; Destek, Mehmet Akif
    Abstract: This paper investigates the role of export quality in climate action goal of the sustainable development goals in emerging Asian countries. For this purpose, the empirical model that observes the impact of real GDP, energy use and export quality index on carbon emissions is constructed and is analyzed by ARDL bound test approach for the period from 1970 to 2014. We also include the square of real GDP as independent variable to observe the existency of Environmental Kuznets Curve (EKC) hypothesis which implies the parabolic relationship between economic growth and environmental degradation. The findings show that increase in export quality leads to a fall in CO2 emissions for China and India. In contrast, the effect of increasing export quality increases CO2 emissions in Thailand and the Philippines. Lastly, our asymmetric causality results show that the positive shocks of export quality causes positive shocks of CO2 emissions in Thailand and Indonesia. Furthermore, we found that positive export quality shocks causes negative carbon emission shocks in India while negative export quality shocks causes positive carbon emissions shocks in China. We also confirm the inverted U-shaped EKC hypothesis in China and Thailand.
    Keywords: This paper investigates the role of export quality in climate action goal of the sustainable development goals in emerging Asian countries. For this purpose, the empirical model that observes the impact of real GDP, energy use and export quality index on carbon emissions is constructed and is analyzed by ARDL bound test approach for the period from 1970 to 2014. We also include the square of real GDP as independent variable to observe the existency of Environmental Kuznets Curve (EKC) hypothesis which implies the parabolic relationship between economic growth and environmental degradation. The findings show that increase in export quality leads to a fall in CO2 emissions for China and India. In contrast, the effect of increasing export quality increases CO2 emissions in Thailand and the Philippines. Lastly, our asymmetric causality results show that the positive shocks of export quality causes positive shocks of CO2 emissions in Thailand and Indonesia. Furthermore, we found that positive export quality shocks causes negative carbon emission shocks in India while negative export quality shocks causes positive carbon emissions shocks in China. We also confirm the inverted U-shaped EKC hypothesis in China and Thailand.
    JEL: Q01 Q5
    Date: 2022–09–29
  5. By: Chiara Varazzani; Michaela Sullivan-Paul; Henrietta Tuomaila
    Abstract: This working paper explores the use of behavioural science for promoting environmentally sustainable tourism. It looks at how to use behavioural science to encourage sustainable behaviour, targeting both the consumers and suppliers of tourism activities and services. It concludes with recommendations for planning and implementing a tourism recovery strategy that prioritises both economic and environmental sustainability.
    Keywords: Behavioral Insights, Behavioural Science, Carbon emission, COVID-19, Green transition, Greenhouse gas emissions, Net zero, Sustainability, Sustainable Tourism, Tourism, Travel
    Date: 2023–06–14
  6. By: Filippo Maria D’Arcangelo; Tobias Kruse; Mauro Pisu; Marco Tomasi
    Abstract: This paper assesses to what extent markets with sophisticated investors and large firms price transition risks due to climate policies. The analysis exploits longitudinal data on firms’ economic and environmental performances - as measured by emission intensity, patenting activity in mitigation technologies, and ESG scores – and syndicated loan data. It provides three main results. First, firms with good environmental performance (in terms of emission intensity or patenting activity in mitigation technologies) benefit from a significantly lower cost of debt as climate-change mitigation policies become more stringent. Second, ESG scores and their environmental pillar are not sufficiently informative to assess and price domestic climate policy risks. Third, more stringent mitigation policies encourage investment in green firms by reducing the cost of debt: an increase of about EUR 10/t CO2 in carbon taxes raises investment by about 12% for firms with high patenting activity in mitigation technologies while it decreases investment by about 11% for firms with high emission intensity. The paper discusses policies to improve the available information on firms’ environmental performance metrics so as to enable investors who are smaller and less sophisticated than those participating in the syndicated-loan market to assess firms’ climate transition risks and to allocate capital in line with emission reduction targets.
    Keywords: climate policy, corporate investment, cost of capital, ESG, Green finance
    JEL: D22 G10 G38 O32 Q50 Q58
    Date: 2023–06–15
  7. By: Kimundi, Gillian; Wambui, Reuben
    Abstract: This paper offers a climate change vulnerability assessment of the Kenyan banking sector by examining the time-varying linkages of climate risk drivers, economic sectors that get impacted by a disorderly low-carbon transition (climate policy relevant sectors (CPRSs)), and banking sector stability. We use temperature and precipitation climate data, identify 5 CPRSs and their quarterly outputs, construct a banking sector stability index, and examine the time-varying linkages of these variables. Effectively, we assess the response of banking sector stability to sectoral output shocks arising from physical and transition risks. Three important findings emerge: First, the agriculture sector is the sole channel of physical climate risk transmission. Second, manufacturing and utilities sectors are becoming increasingly critical/significant channels for transmitting transition risks. Third, during the COVID-19 era, all CPRSs have become increasingly linked to banking sector stability, effectively exacerbating the transmission of climate risks to the banking sector.
    Keywords: climate change, climate risk drivers, climate policy relevant sectors (CPRS), banking sector, stability
    Date: 2023
  8. By: Odongo, Maureen; Misati, Roseline Nyakerario; Kageha, Caren; Wamalwa, Peter Simiyu
    Abstract: This study analyses the impact of climate risk indicators on bank stability in Kenya based on descriptive and quantitative approaches on quarterly data covering thirtyfive banks over the period 2009 to 2021. The analysis reveals a distinct warming trend, variable rainfall pattern and an increasing trend in greenhouse gas emissions especially in the agriculture and transport sectors. Banks' climate financing for sustainable projects remains low. Empirical findings using dynamic panel estimation reveals adverse impact of temperature changes and rainfall variability on bank stability and credit risk arising from non-performing loans. The stress testing results reveal vulnerability of the banking sector to climate change as the probability of defaulting increases in moderate, severe, and extreme temperature changes. The results affirm banks' important role in managing financial stability risks while providing sustainable climate financing and the need to strengthen synergies between private and public sustainable financing for target priority sectors.
    Date: 2023
  9. By: Talam, Camilla C.; Maru, Lucy
    Abstract: Against the backdrop of climate-mitigation and green growth policies as well as regulations to account for climate-related risks in the financial sector, this study employs the Computable General Equilibrium model and Merton's Distance to Default model to study the implications of Kenya transitioning to a low carbon economy through introduction of a carbon tax on a carbon intensive sector. The study finds that a carbon tax would result in rise in general prices, and lower investment to GDP. These adverse effects are offset by a rise in real GDP and narrower fiscal and current account balances supported by a rise in government revenue and higher exports in low-carbon intensive sectors. A carbon tax policy would have adverse effects of declining output and income of firms in carbon intensive sectors. These adverse effects are varied which hedges the probability of default of a bank portfolio and allows for natural diversification to mitigate the adverse effects of such a policy for the banking sector. The carbon tax may also increase resilience in low carbon intensive firms where a bank may have exposures thus mitigating the environmental risks for these banks' exposures. From the findings, the paper persuades policymakers to consider a carbon tax rather than an emission trading system as a key carbon mitigation policy.
    Keywords: Green finance, Transition Risks, Carbon Pricing, Probability of Default
    Date: 2023
  10. By: Lorenzo Forni (University of Padova); Mehrab Kiarsi (Henan University)
    Abstract: This paper points to the welfare enhancing effect of policies to regulate emissions in the face of climate shock. Fiscal and monetary policies alone would achieve suboptimal outcomes. We consider the Ramsey-optimal long-run and dynamic policy interactions between climate and fiscal-monetary policies in a climate-monetary DSGE model under sticky prices. In the model, the planner – on top of a fiscal and a monetary instrument – controls also a carbon tax (or, equivalently, an emission abatement technology) to manage emissions, and therefore temperatures and climate damages. In this setup, the presence of carbon taxation sharply reduces the fall in key macroeconomic variables such as output, consumption, and welfare, to a shock to emissions compared with the case without carbon taxation in place. We also show that it is essential to consider climate-specific shocks to appreciate the importance of carbon policies; the Ramsey optimal solution to typical TFP or government spending shocks is not very different whether or not the planner has access to carbon taxation. In the face of climate shocks, the optimal monetary is very similar to the one under no climate policy, while the optimal fiscal policy set distortionary labor income taxation at a lower rate, as the planner now raises revenue also through carbon taxes. Finally, in an extension of the model, we show that the optimal environmental implications can significantly change as we explicitly include climate fiscal outlays in the government budget constraint. As climate change becomes more costly for the government, the optimal abatement increases and the magnitude of carbon emissions and thus output damages decreases.
    Keywords: Climate change; Climate-specific shocks; Optimal environmental and fiscal- monetary policy; Carbon taxation; Fiscal finance; New Keynesian model
    Date: 2023–04
  11. By: Kleibrink, Alexander; Pegels, Anna; Fink, Michael; Scholz, Wolfgang
    Abstract: This policy brief examines actions for a just transition of local job markets in developing countries. We identify building blocks for shifting from carbon-intensive towards green jobs in this transition. Green jobs in cities are key to ensure a just transition of local employment markets, both formal and informal, and make cities function more sustainably. They are part of a wider inclusive green economy aiming at carbon-neutrality and resource efficiency with a focus on human well-being and social equity while paying special attention to local nature-based solutions. The transition will create winners and losers. Both need to be managed if the process and outcomes are to be just.
    Keywords: Green jobs, urbanisation, just transition, developing countries, climate change
    Date: 2023
    Abstract: 최근 인도 신‧재생에너지 시장이 급속히 성장하고 있으며, 미국, 일본, EU, 중국 등 주요국의 진출과 협력이 본격화되고 있다. 본 연구는 상대적으로 정체된 한-인도 신‧재생에너지 협력을 위한 정책 과제 도출을 목적으로 추진되었으며, 이를 위하여 인도 신‧재생에너지 시장 구조, 관련 정책 및 제도, 주요국의 협력전략, 민간 부문의 협력 수요 및 정책 수요를 분석하였다. 본 연구는 한-인도 신‧재생에너지 협력을 확대하기 위하여 한-인도 에너지 대화 설립, 한-인도 기후변화 협력 협정 체결, 한-인도 신‧재생에너지 시범사업, 해외 진출을 위한 국내 기업 경쟁력 강화의 정책 과제를 제안한다. The importance of new and renewable energy has been a prominent issue since the Paris climate agreement in 2015. The Paris Agreement aims to keep the average temperature rise below2°C compared to before industrialization, and to limit the future temperature rise to 1.5°C or less. The main responses to the Paris climate agreement are centered on the active use of eco-friendly energy such as new and renewable energy and policies to supportthe ecosystem of low-carbon industries. Responding to the global green movement, the Korean government declared carbon neutrality in 2020 and announced policy plans to create a low-carbon ecosystem. However, the small size of the domestic renewable energy market is making it difficult to mass-produce renewable power generation plants. Also, as the international community’stransition to a low-carbon ecosystem is rapidly taking place, Korea needs to actively meet its Nationally Determined Contributions (NDCs) through various overseas cooperation projects if it is to achieve carbon neutrality by 2050. Therefore, it is clear that energy cooperation with developing countries will be needed to explore new markets and secure NDCs through overseas expansion.Considering India’s recent expansion of the renewable energy market and its active policy supports, India is likely to grow into a major partner for Korea in the renewable energy sector. India is currently active in expanding new and renewable energy to solveits domestic air pollution issue, and the demand for renewable energy is expected to grow in the long term. Currently, India’srenewable energy market is a major market on the global level. Specifically, the volume of India’s renewable energy production is second in the world, right after China. Therefore, in light of the growing importance of renewable energy and NDC needs, research on India’s renewable energy market is necessary. This study aims to produce a report on India’s renewable energy market and policy implications for Korea-Indiacooperation in renewable energy sector through analysis of India’s energy and renewable energy market, renewable energy policies and systems, and firm-level cases.(the rest omitted)
    Keywords: 경제협력; 에너지산업; Economic Cooperation; Energy Industry
    Date: 2022–12–30
  13. By: Bard, AI
    Abstract: Whether the bill is rational depends on your perspective. Some people believe that the bill is a rational response to the climate crisis, while others believe that it is not going far enough. The bill is rational in the sense that it is a significant step in the right direction. It includes funding for a variety of climate initiatives, such as clean energy research and development, energy efficiency programs, and climate adaptation efforts. These initiatives will help to reduce greenhouse gas emissions and mitigate the effects of climate change. However, some people believe that the bill is not rational because it does not go far enough. They argue that the US needs to do more to reduce its emissions and invest in climate adaptation measures. They also argue that the bill is not ambitious enough, and that it does not do enough to address the climate crisis. Ultimately, whether the bill is rational is a matter of opinion. There are valid arguments to be made on both sides of the issue.
    Date: 2023–05–22
  14. By: Behrendt, Karl; Paparas, Dimitrios
    Keywords: Agribusiness, Environmental Economics and Policy, Farm Management, Research and Development/Tech Change/Emerging Technologies
    Date: 2022–09–20
  15. By: Hossa Almutairi; Axel Pierru (King Abdullah Petroleum Studies and Research Center)
    Abstract: By storing carbon dioxide CO2 captured from the atmosphere or point sources into oil fields, carbon capture and storage with enhanced oil recovery (CCS-EOR) increases the fields’ output by raising reservoir pressures. Since CO2-EOR has been experimented with for decades and the revenues from the additional oil production improve projects’ economics, CCS-EOR is the most readily deployable CCS technology. However, public support for CCS-EOR projects is sometimes contested on the grounds that the resulting increase in oil production undermines their environmental benefits. Addressing this concern requires determining the effects of implementing CCS-EOR on global CO2 emissions. This note presents a simple approach based on a marginal reasoning consistent with economic decision-making. It produces analytical formulas that account for the effects on the global oil market of incentivizing CCS-EOR. In addition, we quantify the volume of oil that can be decarbonized by storing a tonne of captured CO2 through EOR from different perspectives. We produce numerical results based on a first-cut calibration. Results suggest that, from an economic perspective, CCS-EOR is a technology that mitigates global emissions. However, after accounting for the need to decarbonize the EOR oil, the reduction in emissions is significantly less than the stored quantity of CO2. If fully allocated to oil production, the environmental benefits of capturing a tonne of CO2 and storing it through conventional EOR can allow the oil producer to decarbonize 3.4 barrels on a well-to-wheel basis and 14.4 barrels when offsetting its oil-upstream emissions only. Fiscal incentives granted by governments to support CCS-EOR as a climate-change mitigation technology should be sized accordingly. We compare our findings to the size of the subsidy in the revised Section 45Q of the 2022 United States Inflation Reduction Act.
    Keywords: Discounting, Domestic energy pricing, Economic distortions, Oil
    Date: 2023–06–06
    Abstract: 중국은 탄소중립을 실현하기 위한 녹색산업 발전에 녹색금융의 활용이 반드시 동반되어야 한다는 사실을 인지하고 있다. 2016년 이후, 세계에서 가장 빠르고 적극적으로 녹색금융 시장 형성을 추진하고 있는 중국은 현재 최대 녹색대출 시장을 보유하고 있으며, 미국 다음으로 큰 녹색채권 시장을 보유하고 있다. 중국은 녹색금융을 자국의 탄소중립 목표 달성을 위한 중요한 전략적 정책도구로 활용하고 있으며, 정부 주도하에 자국 녹색산업 발전 지원, 외자유치, 대외협력 확대 등 다양한 측면에서 녹색금융을 활용하고 있다. 이에 본 연구에서는 중국의 녹색금융 발전전략을 분석하고 한중 간 녹색금융 협력방안을 제시하였다. China is a leading nation in the area of green finance, deeply recognizing that carbon neutrality should be accompanied with green finance to boost development of the green industry and actively working to develop green financial markets. In 2016, China published the “Guidelines for Establishing the Green Financial System, ” which provides core guidelines for establishing the domestic green financial market. These guidelines define the concept of green finance in China, namely as providing financial service to support projects such as for environmental protection, renewable energy development, and green infrastructure construction for response to climate change and efficient use of resources in economic activities. Viewing green finance as an important strategic policy tool for China to achieve its carbon neutrality goal, this research explores China‘s green finance strategy in terms of policy establishment and market formation, the tools for supporting domestic green industry development, and global cooperation, while also aiming to provide suggestions for Korea-China cooperation in the green finance field. Chapter 2 studies China’s policy establishment and market status in terms of green loan and bond markets, which are the main components of China’s green finance market. China’s green loan market is largely operated by state-owned banks and some large commercial banks as major players. These provide loans for domestic green projects to boost China’s green economy development. The support provided by these banks has increased the size of China’s green loan market to over 15.9 trillion RMB, making it the largest market in the world in 2021. China’s green bond market, as well, is one of the largest in the world. Its size recorded 1.56 trillion RMB in 2021, and according to the Climate Bond Initiative it is the second largest green bond market in the world after the United States. In China’s green bond market, local governments and corporations act as major suppliers of green bonds. According to the issuance type and purpose of use, China’s green bonds can be classified into various categories including finance bonds, intermediate bills, commercial bills, corporate bonds, and enterprise bonds. (the rest omitted)
    Keywords: 금융정책; 자본시장; 중국의 녹색금융 발전전략; Financial policy; capital market; Chinas green finance development strategy
    Date: 2022–12–30
    Abstract: 본 보고서는 중국 도시의 녹색전환 정책을 에너지, 공업, 교통 분야의 정책으로 분류하고 각 분야의 정책 추진체계와 특징 등을 파악하였다. 또한 각 분야의 주요 정책 특징과 추진사례 등을 통해 한국이 향후 녹색전환을 추진하는 데 필요한 정책적 시사점과 한·중 협력방안 그리고 관련 리스크 등을 제시하였다. As a strategy to promote green transition, Chinese cities are increasing their proportion of renewable energy consumption by diversifying and scaling small solar power, wind power, biomass, and geothermal power, and striving to supply eco-friendly energy by activating green electricity transactions between regions. In addition, policies to reduce pollution and carbon emissions andestablish a green manufacturing system are being promoted with a focus on cities where industrial complexes are situated. The green transition in China’s transportation sector also takes on the character of an industrial policy that utilizes urban green transition to foster industries, such as fostering the new energy automobile industry centering on large cities where automobiles and publictransportation are concentrated. In this respect, this study classified the green conversion policy of Chinese cities into policies in the energy, industry, and transportation sectors, and identified the policy implementation system and characteristics of each field. In addition, based on the characteristics of major policies and implementation cases in each field, policy implications and cooperation measures necessary for Korea to pursue a green transition in the future were identified, as well as matters to keep in mind. Chapter 2 of this report deals with the background and strategies for promoting green transformation in Chinese cities. Since the1980s, after the reform and opening up, China’s urbanization has progressed rapidly, with coastal cities being the center of industrialization, and these cities serving as hubs for international trade. However, the indiscriminate expansion of Chinese cities is evaluated as an unsustainable model, and the Chinese governmentis pursuing a green conversion policy of cities to reduce environmental pollution and to grow the economy centered on high value-added manufacturing and services. The green transition promotion strategy of Chinese cities aims to set low-carbon transition targets for each city and build an eco-friendly energy system. At the same time, it promotes green conversion of industrial complexes located in cities, and promotes investmentand consumption in the private sector through policies that lead the supply of new energy vehicles in public institutions and public transportation.(the rest omitted)
    Keywords: 경제개혁; 산업정책; economic reform; industrial policy
    Date: 2022–12–30
  18. By: Woodroffe, Nicola; Westenberg, Erica
    Abstract: When MNEs with strong environmental and governance commitments sell petroleum assets to companies with weaker commitments, climate and governance risks may increase. Governments and companies should revisit approaches to petroleum legal frameworks and update company and investor social responsibility to ensure standards do not slip when projects change hands.
    Date: 2023
  19. By: Qasim Ajao; Lanre Sadeeq
    Abstract: Efforts toward building a sustainable future have underscored the importance of collective responsibility among state and non-state actors, corporations, and individuals to achieve climate goals. International initiatives, including the Sustainable Development Goals and the Paris Agreement, emphasize the need for immediate action from all stakeholders. This paper presents a feasibility assessment focused on the opportunities within Nigeria's Electric Vehicle Value Chain, aiming to enhance public understanding of the country's renewable energy sector. As petroleum currently fulfills over 95% of global transportation needs, energy companies must diversify their portfolios and integrate various renewable energy sources to transition toward a sustainable future. The shifting investor sentiment away from traditional fossil fuel industries further highlights the imperative of incorporating renewables. To facilitate significant progress in the renewable energy sector, it is vital to establish platforms that support the growth and diversification of industry players, with knowledge sharing playing a pivotal role. This feasibility assessment serves as an initial reference for individuals and businesses seeking technically and economically viable opportunities within the sector.
    Date: 2023–05
  20. By: Alexandru Petrea (Military Academy of the Armed Forces Alexandru Cel Bun Republic of Moldova)
    Abstract: Climate change is arguably the first truly global security challenge in that, according to UN reports, only 11 out of the current 193 UN member states do not currently experience its impact in one form or another. In this sense, the Alliance includes in its policies the risks generated by the stress of climate change and orients its security strategies to take into account the impact of climate change. Continuous information, the approach based on prevention and resilience as well as the responsible determination of the energy independence that can be provided by renewable resources are some of the impactful measures in limiting these changes.
    Keywords: climate change, security, conflict, climate security, natural disasters, NATO
    Date: 2022–10
  21. By: Shigeto Kondo (King Abdullah Petroleum Studies and Research Center)
    Abstract: The joint crediting mechanism (JCM) is a Japan-initiated bilateral mechanism for reducing greenhouse gas (GHG) emissions while transferring Japan’s technologies to partner countries in exchange for transferring carbon credits to Japan. It is seen as a leading pilot mechanism of “cooperative approaches” under Article 6.2 of the Paris Agreement. As of February 2022, 214 projects with 22 partner countries, including Saudi Arabia, had been selected by the Japanese government for support. Japan and Saudi Arabia have thus far implemented one project under this mechanism, and another project is in the process of being approved.
    Keywords: Article 6, Carbon market, Carbon pricing, Clean technology, Climate change
    Date: 2023–06–06
  22. By: Anwar Gasim; Lester C. Hunt; Jeyhun Mikayilov (King Abdullah Petroleum Studies and Research Center)
    Abstract: Reducing methane (CH4) emissions is key to near-term efforts to limit global warming. CH4 is the second most abundant anthropogenic greenhouse gas (GHG) in the atmosphere after carbon dioxide (CO2). The production, transport, and consumption of fossil fuels, in addition to waste and agriculture, account for most anthropogenic CH4 emissions globally (IPCC 2018). Although CH4has only a 12-year lifetime in the atmosphere, it is 84 times more potent per ton than CO2 in a 20-year period and 28 times more potent in a 100-year period (IPCC 2018). The drastically stronger short-term potency of CH4 explains why its short-term impact on global warming is considerably greater than that of CO2. Therefore, meeting the goals of the Paris Agreement necessitates not only decarbonization but also significant CH4 emissions reductions, especially in the near term.
    Keywords: Belt and Road, Capital expenditure, Circular Carbon Economy, CO2 emissions
    Date: 2023–04–14
  23. By: Kimberly A. Clausing (Peterson Institute for International Economics; University of California, Berkeley); Luis Garicano Bruegel; University of Chicago Booth School of Business (Bruegel; University of Chicago Booth School of Business); Catherine Wolfram
    Abstract: Under the 2022 Inflation Reduction Act, the United States has for the first time implemented a methane emissions fee as a backstop to new methane regulations in the oil and gas sectors. The European Union is also implementing methane regulations on fossil energy. Methane is a short-lived but potent greenhouse gas, and reducing it is imperative for limiting global temperature rise to the 1.5°C target. Among the primary sources of methane emissions (including agriculture, fossil fuels, and waste), the oil and gas sectors have the greatest low-cost abatement potential. Clausing and colleagues recommend that the United States and the European Union coordinate their methane reduction policies and eventually impose border adjustments on imports from countries that fail to raise their standards. The aim would be to encourage oil and gas exporters to adopt comparable regulations or, if they fail to do so, pay a border adjustment fee on exports to the two jurisdictions. A US-EU methane border adjustment policy in oil and gas would reduce methane emissions by an estimated 15 to 45 percent worldwide, while having an indiscernible effect on key energy prices US and EU households face. With time, most major energy importers would ideally join the coalition of countries cooperating on both stringent domestic regulations on oil and gas production and border adjustments on any dirty, nonregulating exporters. Such an international agreement would help defuse frictions caused by differing climate policies and increase incentives for ambitious climate policy action worldwide.
    Date: 2023–06
  24. By: Yeboah, Samuel; James Nyarkoh, Bright
    Abstract: This review examines the impact of mining on the Ghanaian economy from 1992 to 2020. The purpose of the study is to comprehensively analyse the effects of mining on economic growth, employment, government revenue, environmental sustainability, and social outcomes in Ghana. The problem statement arises from the need to understand the implications of mining for sustainable development and inform evidence-based policy decisions in the sector. The review employs a systematic methodology to gather and analyse data from various sources, including academic literature, government reports, and industry publications. The findings reveal that mining has been a significant driver of economic growth in Ghana, contributing to the country's gross domestic product (GDP) through foreign exchange earnings, investment, and sectoral linkages. However, the sector also presents challenges in terms of environmental sustainability and social consequences. The study highlights the positive impact of mining on employment generation, both directly in mining operations and indirectly in support services. It identifies mining as a crucial source of government revenue through taxes, royalties, and dividends, supporting government budgets, infrastructure development, and social programs. Nevertheless, effective fiscal management and equitable distribution of mining revenues remain ongoing challenges. The review also addresses the environmental impacts of mining, including deforestation, water pollution, and soil degradation. It emphasizes the importance of implementing environmental regulations and responsible mining practices to mitigate these adverse effects and ensure long-term sustainability. Furthermore, the study examines the social consequences of mining, such as social disruptions, conflicts, and community development initiatives. Based on the findings, the review concludes that while mining has brought significant economic benefits to Ghana, there is a need for sustainable approaches that consider environmental protection and social well-being. The study recommends enhancing stakeholder engagement, community participation, and benefit-sharing mechanisms to address the negative social impacts and promote sustainable community development.
    Keywords: mining, Ghanaian economy, economic growth, employment, government revenue, environmental sustainability, social consequences
    JEL: H11 J21 O25 Q13 Q32
    Date: 2022–11–13
  25. By: Paolo Zeppini (Université Côte d'Azur; GREDEG, CNRS, France; Department of Economics, University of Bath, UK); Jeroen C.J.M. van den Bergh (ICREA, Barcelona, Spain; Institute of Environmental Science and Technology, Universitat Autònoma de Barcelona, Spain; School of Business and Economics & Institute for Environmental Studies, VU University Amsterdam, the Netherlands)
    Abstract: We propose a model of global energy competition, GLO-COV, to shed light on long-run effects of COVID-19. It accounts for the joint impact of lockdown, economic stimulus programs and climate policy on CO2 emissions. The model also captures the role of peak oil. It incorporates evolutionary self-reinforcing dynamics which allows addressing path-dependence and lock-in. The model is empirically calibrated on historical energy demand, economic growth, emission intensity, and factors specific to COVID-19. The resulting long-term assessment complements previous studies that focus on short-term effects of the pandemic. We find that without countervailing climate policy, COVID-19 increases long-run emissions. With a carbon tax already in place, COVID-19 leads to lower emissions than scenarios without the pandemic or without policy. On their own, climate and stimulus policies increase variability of, and thus uncertainty about, emissions, while their combination reduces variability. A further advantage of combining stimulus and carbon taxation is that it creates strong synergy, resulting in maximal reduction of long-term emissions.
    Keywords: Climate change, economic crisis, energy, lock-in, path-dependence, tipping points
    Date: 2023–05
  26. By: Schenuit, Felix; Böttcher, Miranda; Geden, Oliver
    Abstract: Die Klimapolitik in der Europäischen Union und in Deutschland hat sich mit der Verabschiedung von Netto-Null-Zielen deutlich verändert. Eine neue Entwicklung ist die Bedeutung von Carbon Management. Der Sammelbegriff umfasst neben der Abscheidung und Speicherung von CO2 (Carbon Capture and Storage, CCS) auch die CO2-Abscheidung und Nutzung (Carbon Capture and Utilization, CCU) sowie die Entnahme von CO2 aus der Atmosphäre (Carbon Dioxide Removal, CDR). Es ist wichtig, Klarheit in Bezug auf die Abgrenzung dieser einzelnen Ansätze zu schaffen und ihr Verhältnis zu den sogenannten Restemissionen und schwer vermeidbaren Emissionen zu identifizieren. Dies ist insbesondere deshalb ratsam, weil davon das generelle Ambitionsniveau der Klimapolitik, die zukünftige Ausgestaltung der Politikdesigns sowie deren Verteilungswirkungen abhängen. Aktuelle Politik- und Gesetzgebungsprozesse sollten genutzt werden, um darauf hinzuwirken, dass Carbon Management den Ausstieg aus fossilen Energieträgern nicht verlangsamt. Die neuen Initiativen bieten die Gelegenheit, die Schnittstelle zwischen ambitioniertem Klimaschutz und Industriepolitik aktiv zu gestalten.
    Keywords: Carbon Management, Carbon Capture and Storage, CCS, Carbon Capture and Utilization, CCU, Carbon Dioxide Removal, CDR, BECCS, DACCS, Restemissionen, schwer vermeidbare Emissionen, Net Zero Industry Act, CO2-Abscheidung, Klimapolitik, Klimaschutz, Netto-Null-Ziel, netto-negative CO2-Emissionen, CO2-Entnahme
    Date: 2023
  27. By: Abu Toasin Oakil; Ahm Mehbub Anwar; Alma; Nourah Al Hosain; Abdelrahman Muhsen; Anvita Arora (King Abdullah Petroleum Studies and Research Center)
    Abstract: Saudi Arabia intends to reduce its greenhouse gas (GHG) emissions by 278 million tonnes of CO2 equivalent annually by 2030, according to its Nationally Determined Contribution to the United Nations Framework Convention on Climate Change (UNFCCC). Among many policies it is introducing, a mass transit system and transit-oriented development are being advanced with the expectation of reducing energy consumption and GHG emissions in Riyadh. To what extent such an initiative can reduce energy consumption and GHG emissions is an important question. In this paper, a methodology is developed to systematically measure the impact of mass transit and transit-oriented development in Riyadh on energy demand.
    Keywords: Land use-Transportation interaction, Spatial economic model, Transit oreinted development, Urban energy model
    Date: 2023–06–13
  28. By: Tappi, Marco; Carucci, Federica; Gatta, Giuseppe; Giuliani, Marcella Michela; Lamonaca, Emilia; Santeramo, Fabio Gaetano
    Abstract: The climate changes and the weather events affect agricultural production and farmers’ income. Several strategies may help improving the resilience of farms to climate change, and particular mention should be done to the weather index-based crop insurance schemes, as they rely on the yield-weather relationship. A vast majority of studies investigate the limitation of the weather index insurance, due to the complex relationships linking weather events and yields and the difficulty to capture them with an index (i.e., the basis risk). The literature has not devoted sufficient attention to compare different specifications within the same statistical model in yield-weather estimation. Our study, conducted on durum wheat in Italy, shows how the identification (and design) of the phenological stages (i.e., temporal specifications) may help capturing or depicting the yield-weather relationships. The negative effects of the low temperatures, especially during the early stages of durum wheat, is remarkable. Our findings contribute to the debate on the design of triggers in weather indexes (e.g., for minimum temperatures), stimulating new research directions to assist stakeholders interested in planning agricultural risk management interventions.
    Keywords: Basis risk; Crop; Climate; Phenological stage; Insurance; Risk management
    JEL: G22 Q14 Q18 Q54
    Date: 2023–05–13
  29. By: Araya, Nicolás; Correa, Felipe
    Abstract: Las certificaciones de sostenibilidad han aumentado su popularidad con los años, siendo actualmente una de las principales herramientas utilizadas por las organizaciones, empresas y productores que desean contribuir con el desarrollo sostenible desde los aspectos económico, social y ambiental. El presente estudio explora las estadísticas, literatura y experiencias asociadas a las certificaciones de sostenibilidad en el mundo, con un énfasis especial en América Latina y el Caribe. Al 2022, los países de la región que más presencia tenían de estos instrumentos eran Brasil, Perú y México. Experiencias positivas de involucramiento del sector público en apoyo, difusión e impulso a la adopción de las certificaciones de sostenibilidad han existido en los últimos años en Brasil, México y Colombia. Las oportunidades para los gobiernos de la región se encuentran en considerar la existencia de certificaciones públicas, como existen en agricultura orgánica, eficiencia energética, construcción y turismo sostenible, entre otros, negociar acuerdos de homologación de certificaciones nacionales con certificaciones internacionales aceptadas en mercados de destino de exportaciones, o facilitar la adopción de productores nacionales a las certificaciones mediante subsidios.
    Date: 2023–05–16
  30. By: Matteo Alpino (Bank of Italy); Luca Citino (Bank of ItalyEuropean Central Bank); Federica Zeni (Bank of Italy)
    Abstract: We perform a cost-benefit analysis of the green investments contained in the Italian National Recovery and Resilience Plan (NRRP). We compute the future discounted benefits in terms of expected emission reductions using various estimates of the Social Cost of Carbon, and compare them with the investment cost. Our results suggest that several projects would not have a positive net present value, unless policymakers are willing to use relatively low discount rates and give higher weight to benefits accruing to developing countries. The fact that investments under the NRRP are financed via long-term debt helps in bridging the gap between costs and benefits. Investments in renewable energy are an exception, as their benefits outweigh the cost within a short time-frame.
    Keywords: inflation density, inflation risk premium, objective probability
    JEL: C22 C58 G12 E31 E44
    Date: 2022–10
  31. By: MATEI Nicoleta-Anca (European Commission - JRC); GARCIA LEON David (European Commission – JRC); DOSIO Alessandro (European Commission - JRC); BATISTA Filipe (European Commission - JRC); RIBEIRO BARRANCO Ricardo; CISCAR MARTINEZ Juan Carlos (European Commission - JRC)
    Abstract: The tourism industry, a significant contributor to European GDP, may face considerable stress due to climate change. This study examines the potential impact of climate change on tourism demand in European regions in the 2100 time horizon. Using data from 269 European regions over a 20-year monthly timespan, we estimate the effect of current climatic conditions (rated with a Tourism Climatic Index, TCI), on tourism demand, considering various regional typologies. Our findings reveal that climate conditions significantly affect tourism demand, with coastal regions being the most impacted areas. Next, we simulate the impacts of future climate change on tourism demand for four warming levels (1.5°C, 2°C, 3°C, and 4°C) under two emissions pathways (RCP4.5 and RCP8.5). We find a clear north-south pattern in tourism demand changes, with northern regions benefitting from climate change and southern regions facing significant reductions in tourism demand; that pattern becomes more pronounced for higher warming scenarios. The seasonal distribution of tourism demand would also change, with relative reductions in summer and increases in the shoulder and winter seasons.
    Keywords: tourism, climate change, panel data, TCI, NUTS 2
    JEL: C23 Q54 R11 Z32
    Date: 2023–05
  32. By: Van Sandt, Anders T.; Hansen, Kristiana M.; Ehmke, Mariah D.; Shinker, JJ; Paige, Ginger; Keller, Mary; Cooper, Kaatie; Landreville, Kristen Dawn
    Keywords: Community/Rural/Urban Development, Environmental Economics and Policy, Research Methods/Statistical Methods
    Date: 2023
  33. By: Khuc, Quy Van
    Abstract: Humanity has achieved a great deal of advances in science and technology, making people the richest in history. However, humankind is facing an unprecedented set of survival challenges, ranging from poverty to environmental pollution, climate change, conflicts, inequality, etc. In this paper, I would like to introduce a “culture tower”. This tower is also called as “khucc tower”. The pyramid consists of many steps, the lowest is knowledge (kien thuc), followed by actions (hanh dong), utilizations (huong dung), control (kiem soat), and creativity/contribution (sang tao/cong hien). The culture pyramid is built based on the cognitive and working processes for human survival and evolution. By learning and applying wisely the culture tower, one can build a high-value culture system, which could help transform the world in order to address humankind’s problems and build a prosperous world desired.
    Date: 2023–06–01
  34. By: Mari Luomi; Thomas Bosse; Zlata Sergeeva (King Abdullah Petroleum Studies and Research Center)
    Abstract: Carrbon markets have rapidly risen on government and corporate agendas in the Gulf Cooperation Council (GCC) countries as the region gears up to implement the Paris Agreement and pursue ambitious net-zero greenhouse gas (GHG) emission targets. Governments have expressed interest in participating in international carbon markets in their most recent nationally determined contributions (NDCs), various major companies across the region have set ambitious emission reduction targets, and three GCC countries have begun developing voluntary carbon market standards or marketplaces.
    Keywords: Article 6, Carbon market, Carbon pricing, Clean technology
    Date: 2023–06–06
  35. By: Ellalee, Haider; Alali, Walid Y.
    Abstract: The objective of this research is to find the preferable carbon taxation regime to achieve net-zero carbon emissions and enhance social welfare levels. Two regimes were discussed in this paper, including a carbon tax at the aggregate level of social welfare (CTTW) and a carbon tax at the level of single social welfare (CTSW). The results present a preferable regime depending on the substitution of the product and product price flexibility of demand. Not only does industrial transformation bring about changes in the substitution of the product and demand flexibility in product prices, but as well both regimes have a serious effect on achieving net zero carbon emissions and enhancing the level of social welfare.
    Keywords: Social welfare, Carbon Tax, Carbon Emission, Environment
    JEL: D6 I31 K23
    Date: 2022–09–10
  36. By: Nils Grashof; Stefano Basilico;
    Abstract: This study explores the regional diversification processes into green technologies (2000- 2017) and their implications for regional inequalities. Utilizing patent and Eurostat data, we analyze these processes along the economic strength of regions and the nature of their knowledge base. Our findings reveal that both structurally strong and weak regions can successfully diversify into green technologies if they possess related technological capabilities. However, brown regions cannot do so. Already existing patterns of divergence between these two types of regions are unlikely to be exacerbated by a green transition, but new regional disparities between brown regions and other regions could emerge.
    Keywords: dark side of innovation, inequality, regional diversification, regional inequality, green innovation, green transition
    JEL: O32 O33 R11
    Date: 2023–06
  37. By: Pyddoke, Roger (Swedish National Road & Transport Research Institute (VTI))
    Abstract: The EU is currently promoting sustainable mobility in its cities. This promotion can take the form of subsidies for cycling and public-transport infrastructure. This paper compares existing Swedish policy instruments for promoting more sustainable transport: government subsidies to infrastructure for sustainable modes in the form of city environmental agreements (CEAs), congestion and parking charges and a hypothetical incentive to reduce the mode share of cars. Analyses of the CEAs indicate that they do not reliably affect mode choice. The results for congestion and parking charges, on the contrary, indicate that these have a substantial potential to shift mode choices and improve welfare by pricing external costs. The outcomes of the hypothetical incentive based on achieved effects will depend on the extent to which cities are willing to use externality pricing and to which citizens are willing to change modes. The management and evaluation of this hypothetical incentive poses considerable requirements on data and estimations of a counter factual outcomes without incentives, and its necessary costs. Provided these requirements can be met, the incentive model appears to be a possible instrument for stimulating cities to move faster towards sustainable transport.
    Keywords: Sustainable transport; Cities; Mode shares; Policy
    JEL: H23 H54 H71 R48 R49 R51
    Date: 2023–06–15
  38. By: Tamara Sheldon; Rubal Dua (King Abdullah Petroleum Studies and Research Center)
    Abstract: We offer the most comprehensive analysis to date of global plug-in electric vehicle (PEV) subsidies. We accomplish this by estimating vehicle choice models for 23 countries using 2010–2019 sales data and using counterfactual simulations to assess the cost-effectiveness of PEV incentives.
    Keywords: Alternative fuels, Carbon market, Clean technology, Climate change
    Date: 2023–06–06
  39. By: Rola-Rubzen, Maria Fay; Sarmiento, Jon Marx; Villano, Renato A.; Murray-Prior, Roy; Khan, Md. Farid Uddin; Alam, Md Mahafuj; Timsina, Krishna Prasad; Das, Kalyan K.
    Keywords: Institutional and Behavioral Economics, International Development, Research Methods/Statistical Methods
    Date: 2023
  40. By: Villano, Renato A.; Rola-Rubzen, Maria Fay; Sarmiento, Jon Marx; Murray-Prior, Roy; Khan, Md. Farid Uddin; Rashid, Mamunur; Timsina, Krishna Prasad; Das, Kalyan K.; Ghosh, Arunava
    Keywords: International Development, Community/Rural/Urban Development, Productivity Analysis
    Date: 2023
  41. By: Christina Carty (Northwestern University); Oscar Claveria (AQR-IREA, University of Barcelona)
    Abstract: We propose a new approach for the visual inspection of interactions between several variables related to the wind and solar energy sector, and a set of socioeconomic variables and natural factors that may be affecting the sector. Focusing on fifteen European countries in the period from 2007 to 2019, we use Categorical Principal Component Analysis to reduce our data into two factors, the first relating to energy consumption, greenhouse gas emissions, per capita income, and solar energy, and the second capturing climactic and sociopolitical factors. The dimensionality reduction also displays a decoupling between natural factors and variable renewable energy sources (VRES) development, particularly in the case of solar energy, and instead shows a more influential relationship with economic factors. We additionally project all countries into a perceptual map and observe three clusters that roughly correspond to the main European regions (Southern and Eastern Europe, Northern Europe and Western Europe). Finally, we plot the average level and growth level of both the wind and solar energy share for each nation and observe a negative relationship in wind share and a slightly positive relationship in solar share. Our results show that, especially for wind energy, countries with higher levels of overall renewable energy development are more likely to show more intense VRES development than countries who already have high existing levels of the technology in their renewable energy mix. Solar energy investment on the other hand is more likely to be dominated by countries with pre-existing high levels of solar in the renewables mix. Our results emphasize the importance of individual nations attitude towards renewables as a whole as playing a key role in VRES development, as much as the natural resource availability of these energies.
    Keywords: Renewable energies, Wind share growth, Solar share growth, Economic growth, Human development, Multivariate analysis, Europe. JEL classification: C38, C55, O44, Q20, Q50.
    Date: 2022–05
  42. By: Taeisha Nundlall; Terence L Van Zyl
    Abstract: Socially responsible investors build investment portfolios intending to incite social and environmental advancement alongside a financial return. Although Mean-Variance (MV) models successfully generate the highest possible return based on an investor's risk tolerance, MV models do not make provisions for additional constraints relevant to socially responsible (SR) investors. In response to this problem, the MV model must consider Environmental, Social, and Governance (ESG) scores in optimisation. Based on the prominent MV model, this study implements portfolio optimisation for socially responsible investors. The amended MV model allows SR investors to enter markets with competitive SR portfolios despite facing a trade-off between their investment Sharpe Ratio and the average ESG score of the portfolio.
    Date: 2023–05
  43. By: Ron Chan; Martino Pelli; Veronica Vienne
    Abstract: The current literature on the economic cost of air pollution in the labor market primarily focuses on labor productivity, leaving the impact on working hours relatively unexplored. In this paper, we investigate the effects of air pollution on work hours using a nationally representative sample for Chile. To address the potential endogeneity of air pollution, we leverage the exogenous occurrence of wildfires between 2010 and 2018. We construct the smoke plumes originating from each wildfire to identify the causal impact of air pollution on hours worked. Our analysis reveals that an exogenous increase in fine particulate matter resulting from an extra smoky day leads to a 2% reduction in work hours for the average Chilean worker. The impact is more pronounced for male workers engaged in outdoor tasks, such as agriculture, and for economically disadvantaged households, where the negative effects of air pollution can be up to four times larger. Our findings imply that earlier studies focusing only on labor productivity may be underestimating the effect of air pollution on economic output by 11-13%. La littérature actuelle sur le coût économique de la pollution de l'air sur le marché du travail se concentre principalement sur la productivité du travail, laissant l'impact sur les heures de travail relativement inexploré. Dans cet article, nous étudions les effets de la pollution de l'air sur les heures de travail en utilisant un échantillon national représentatif du Chili. Pour traiter l'endogénéité potentielle de la pollution de l'air, nous tirons parti de l'occurrence exogène des incendies de forêt entre 2010 et 2018. Nous construisons les panaches de fumée provenant de chaque incendie afin d'identifier l'impact causal de la pollution de l'air sur les heures travaillées. Notre analyse révèle qu'une augmentation exogène des particules fines résultant d'une journée de fumée supplémentaire entraîne une réduction de 2 % des heures de travail pour le travailleur chilien moyen. L'impact est plus prononcé pour les hommes qui travaillent à l'extérieur, comme dans l'agriculture, et pour les ménages économiquement défavorisés, où les effets négatifs de la pollution de l'air peuvent être jusqu'à quatre fois plus importants. Nos résultats impliquent que les études antérieures axées uniquement sur la productivité du travail pourraient sous-estimer de 11 à 13 % l'effet de la pollution de l'air sur la production économique.
    Keywords: air pollution, hours worked, wildfires, Chile, pollution de l'air, heures travaillées, incendies de forêt, Chili
    JEL: Q53 J20 J22 O13 I15
    Date: 2023–06–12
  44. By: Michele Loberto (Bank of Italy); Matteo Spuri (Bank of Italy)
    Abstract: This paper outlines the main data sources and the methodology used to estimate the impact of flood risk in Italy. It assesses the potential physical damage to the housing stock, identifying the main gaps in the current information set. Estimates of exposure and expected annual loss vary greatly depending on the hazard scenarios used, the assumptions about building vulnerability, and the data’s spatial granularity level. Based on our most reliable estimates, the value of homes potentially exposed to flooding is close to €1 trillion (2020 values), about a quarter of the total housing wealth. The resulting expected annual loss can be estimated at around €3 billion.
    Keywords: climate change, real estate, flooding risk
    JEL: O18 Q54
    Date: 2023–05
    Abstract: ESG, which stands for Environmental, Social, and Governance, has gained significant importance in recent years. Adoption of Paris Agreement and Sustainable Development Goals and efforts to recover from COVID-19 have contributed to this global trend. Businesses and regulators are now placing more emphasis on the sustainability of economic activities and transparent disclosure of ESG information. In light of this, our study focuses on examining global ESG policy trends and supply chain due diligence regulations. We also compare ESG scores of firms across major countries and analyze the impacts of ESG performances on employment and productivity. Based on our findings, we aim to provide recommendations and implications for the government and private sector to address ESG in practice.
    Keywords: ESG; Sustainability; Supply Chain Due Diligence; ESG Scores
    Date: 2023–06–02
  46. By: Tianran Ding; Bernhard Steubing; Wouter Achten
    Date: 2022–06–01
  47. By: Gallé, Johannes
    Abstract: Air pollution has become an increasing health threat for the local population in many cities around the world. Using high resolution remote sensing data on nightlights and fine particulate matter (PM2.5) for the years 1998-2013, I study the contemporary nexus between city shape and air pollution in India. I find that the compactness of a city has statistically significant and negative effects on local air quality. The results are more pronounced in larger cities and robust with respect to different compactness measures. While geographic dispersion allows for more fresh air corridors, differences in commuting patterns could serve as an additional explanation. People in less compact cities are more likely to use public transport and thereby reducing the overall road traffic within cities translating into less pollution. However, the statistically significant effects do not translate into substantial changes in the relative risk of PM2.5-induced diseases.
    Keywords: Urbanization, air pollution, commuting, India
    JEL: R10 R41 Q53
    Date: 2023
  48. By: Prest, Brian C. (Resources for the Future); Raimi, Daniel (Resources for the Future); Whitlock, Zachary (Resources for the Future)
    Abstract: Oil and gas production is a major source of economic growth, employment, and public revenue in many US regions, but considerable uncertainty exists over the future of demand for hydrocarbons, particularly due to the need to reduce greenhouse gas emissions. To inform decisionmakers at local, regional, and national levels, we model how oil and gas production and related government revenue could change in five western US regions (in four states) depending on future oil and natural gas prices under three scenarios of climate policy ambition. Our findings suggest there is substantial variation across regions and scenarios: the Green River (Wyoming) and San Juan (Colorado, New Mexico) basins experience production declines across all scenarios, while production in the Bakken (North Dakota), Permian (New Mexico), and Powder River (Wyoming) basins are more dependent on prices. Although we find that government revenue generally follows the direction of production, these relationships are not directly proportional. For example, under the lower price scenarios, revenue declines more steeply than production because it reflects both production and prices, which both decline. Long-term permanent funds, which are in place across all the states we examine, provide an important fiscal cushion for school districts, their primary beneficiary. These results highlight the importance of developing economic resilience in oil- and gas-producing regions to prevent the potential negative impacts of a long-term reduction in demand for hydrocarbons and of long-term thinking when managing volatile and unpredictable natural resource revenues.
    Date: 2023–06–13
  49. By: Hrozencik, Aaron; Gardner, Grant; Potter, Nicholas; Wallander, Steven
    Abstract: Groundwater resources are vital for U.S. and global irrigated agricultural production. In the United States, ground-water supplies water to approximately 65 percent of all irrigated acreage. The connectivity among irrigators pumping from the same aquifer--paired with growing concerns about groundwater depletion--led to the creation of many of the groundwater organizations currently active in the United States. Groundwater organizations perform a variety of functions to promote groundwater resource stewardship and address groundwater overdraft and quality concerns that impact groundwater irrigators and other nonagricultural users (i.e., residential and municipal groundwater users). The operations of groundwater organizations are shaped by State-level groundwater law, organization governance, and the other irrigation-related activities performed by the organization (such as delivering water directly to farms and ranches). This report leverages data from the USDA's 2019 Survey of Irrigation Organizations to characterize the unique institutions that steward much of the Nation's groundwater resources.
    Keywords: Crop Production/Industries, Environmental Economics and Policy, Farm Management, Industrial Organization, Land Economics/Use, Resource /Energy Economics and Policy
    Date: 2023–04–18
  50. By: Joseph I. Uduji (University of Nigeria, Nsukka, Nigeria); Elda N. Okolo-Obasi (University of Nigeria, Nsukka, Nigeria)
    Abstract: We examine the impact of multinational oil companies' (MOCs) corporate social responsibility (CSR) initiatives on enabling youth participation in theecotourism development in Niger Delta region of Nigeria. Results from the use ofaverage treatment test of a combined propensity score matching and logit model indicate a significant difference between youths in MOCs’ CSR global memorandum of understanding (GMoU) households and non-GMoU households in the four parameters measured: availability of finance (3.76), access to adequate training (5.91), direct patronage (18.97), and economic capability of the youths (8.2).It shows that opportunities to supply products and services to the tourism sector can help ensure a sustainable market and increase incomes and other revenues in local communities driven from ecotourism – related activities, while minimizing economic leakages. This suggests that a pro-youth GMoU ecotourism projects of MOCs have a potential to play in the formation of linkages to help promote local economic development through job creation and business opportunities. It implies that a younger generation can help to promote economic diversification and contribute to job creation and enterprise development, while helping to address underdevelopment in remort areas and intractable environmental challenges of sub- Saharan Africa.
    Keywords: Ecotourism development, environmental justice, corporate social responsibility, Niger Delta youth, sub-Saharan Africa
    Date: 2023–01
  51. By: Hernández Rosario, Anna Cristina
    Abstract: En este documento se presenta un análisis del estado del arte de la cooperación internacional para el desarrollo, con foco en la cooperación Sur-Sur y triangular, sobre la base de un análisis bibliográfico y documental de más de 80 publicaciones editadas entre 2013 y 2022. Los contenidos se ordenan en torno a cuatro títulos: i) desarrollo en transición como fundamento; ii) entorno multiactor: identificación de actores clave; iii) desafíos y prioridades en la cooperación Sur-Sur y triangular, y iv) hacia la reconfiguración de la cooperación Sur-Sur y triangular como herramienta de desarrollo: un enfoque colectivo. En el documento, que recorre conceptos y proposiciones discutidos en América Latina y el Caribe en los últimos diez años, se reflexiona sobre algunos desafíos de la cooperación internacional para el desarrollo —la cooperación Sur-Sur y triangular— en el contexto de los nuevos retos del desarrollo, alineados con el espíritu de universalidad e indivisibilidad de la Agenda 2030 y sus Objetivos de Desarrollo Sostenible (ODS).
    Date: 2023–05–23
  52. By: Wilcox, Steven W.; Barrett, Christopher B.; Jensen, Nathaniel; Sun, Ying; Clark, Patrick; Soto, Gerardo E.; Kahiu, Njoki; Fava, Francesco P.; Porter, Benjamin
    Keywords: Resource/Energy Economics and Policy, International Development, Agricultural and Food Policy
    Date: 2023
  53. By: Vincent Pradier (GREGOR - Groupe de Recherche en Gestion des Organisations - UP1 - Université Paris 1 Panthéon-Sorbonne - IAE Paris - Sorbonne Business School)
    Abstract: Le sixième rapport d'évaluation du GIEC démontre que « l'influence humaine a réchauffé l'atmosphère, les océans et les terres (et va entraîner) des changements rapides et généralisés dans l'atmosphère, les océans, la cryosphère et la biosphère » et que « la vulnérabilité des écosystèmes et des populations au changement climatique varie considérablement d'une région à l'autre […], sous l'effet […] des schémas historiques et permanents d'inégalités tels que le colonialisme » (IPCC, 2022, p.14 ). Sont particulièrement concernés par ces nouvelles vulnérabilités les pays considérés par l'OCDE comme moins avancés (les PMA) ou en développement (PED). Appréhender comment, sur certains de ces territoires déjà durablement dégradés économiquement, socialement – voire démocratiquement – des organisations gèrent le facteur aggravant du réchauffement climatique sur les vulnérabilités, nous semble donc intéressant. C'est particulièrement le cas des organisations non gouvernementales (ONG) de solidarité internationale, qui, comme toutes les organisations occidentales, sont appelées, par la Convention-Cadre des nations unies sur les changements climatiques (CNUCC) à réduire leur empreinte dite environnementale. A ce titre, en France, depuis décembre 2020, dix ONG d'action humanitaire parmi les plus importantes se sont engagées à réduire de 30% leurs émissions de gaz à effet de serre (GES) d'ici à 2025, et 50% à l'horizon 2030, arguant que « les actions des organisations de solidarité, aussi cruciales soient-elles, peuvent générer des impacts environnementaux et climatiques. […] La prise en compte de ces enjeux est donc pour le secteur […] une question de cohérence globale » (Groupe URD, 2020 ) ». Actrices du temps long, comment la dimension exponentielle et systémique de la crise climatique et environnementale transforme-t-elle l'outillage gestionnaire des ONG occidentales de solidarité internationale ? Nous proposons d'illustrer cette question de recherche par un travail qualitatif et inductif de comparaison d'études de cas menées au sein de cinq ONG françaises de solidarité internationale. L'inscription de ce travail en Convention industrielle de formation par la recherche (CIFRE) au sein de Coordination SUD , nous a permis d'étudier une diversité d'ONG occidentales, et de nous intéresser à leurs conditions de déploiement en France et sur certains territoires dégradés (notamment en Guinée, au Sénégal et au Burkina Faso). Le caractère intrinsèquement multiculturel de la gestion de ces organisations, leur inscription dans l'histoire coloniale des pays européens et une certaine « extrémité » de leurs territoires d'intervention nous amènera à mobiliser chemin faisant les approches post-coloniales et décoloniales de gestion, en particulier l'écologie décoloniale, à même d'éclairer la spécificité de cet objet (l'ONG) et de ces territoires (les PMA et le PED), comme l'illustration possible d'une « double fracture coloniale et environnementale de la modernité » (Ferdinand, 2019, p.14 ). Trois principales contributions sont attendues. D'une part, nous proposerons de documenter comment certaines ONG occidentales, en gérant l'aggravation du réchauffement climatique sur leurs territoires d'intervention, sont confrontées au risque d'un déploiement de pratiques parfois très empreintes de colonialité. En mobilisant les perspectives post-coloniales et décoloniales, nous montrerons justement comment ces pratiques sont surtout révélatrices de la transformation du rôle et du positionnement des ONG occidentales dans l'architecture de l'aide. Enfin, nous articulerons ces perspectives aux théories foisonnantes sur les enjeux de transition écologique.
    Keywords: ONG, Decolonial, Transition ecologique
    Date: 2023–05–08
  54. By: Peltzer, Roger; Brüntrup, Michael
    Abstract: Responsible consumption and production are key to sustainable development, and are therefore a Sustainable Development Goal (SDG 12) in their own right. Consumption and production patterns also need to be socially responsible and economically viable. Private-sector requirements and state supply chain regulations, which have become more widespread in recent years, are designed to ensure that products consumed in high-income countries but manufactured (at least partially) in low-income countries are produced in line with certain social and environmental standards. Although progress has been made, many questions remain, particularly regarding whether the local social and economic impacts are sufficient. Cotton made in Africa (CmiA) is a certification initiative within the textile industry. Established 18 years ago as part of one of the largest public-private partnerships of German Development Cooperation with private foundations and private companies around an agriculture-based supply chain, CmiA - like its sister scheme the Better Cotton Initiative (BCI) - seeks to ensure compliance with specific environmental and social conditions in the cotton production process. Wherever it is implemented and monitored, the CmiA-standard provides retailers and consumers with the assurance that the cotton in the textiles and garments in question has been produced in line with CmiA-requirements. Up to now, about one million smallholder households with six to seven million family members in Africa produce under the label. This Policy Brief reflects on the impact that the introduction of CmiA has had on certified farmers, as well as on the challenges facing this standard following its successful market launch, and draws broader lessons learned for sustainability standards. The key findings are as follows: CmiA shows that sustainability standards do not only work for high-priced niche markets but can also be implemented in the mass market. While cotton is a non-food cash crop, the revenues it generates can boost food security among smallholders via the income channel and can also promote local food production through a number of other impact channels. Standard-setting must be accompanied by support for farmers so that they are able to comply and activate impact channels. It remains a huge challenge not only to guarantee social and ecological standards but also to achieve a 'living income' for smallholder farmers. For all the benefits of publicly funding the start-up phase of implementing sustainability standards, it must be ensured that these standards are subsequently financed from the value chain itself. Textile retailers and consumers ultimately have to pay for the goods they consume and which have been manufactured under sustainable conditions. As the mass-market implementation of sustainability standards takes time and patience, we cannot expect to see dramatic improvements in the local living conditions and incomes of the farmers in the short to medium term. Instead, this will require continuous investment in smallholder production and in the local environments over many years. Transitioning from pesticide-intensive production to a system that does not use such products without major productivity losses is challenging but seems feasible. In order to determine whether, and to what extent, the wellbeing of smallholder farmers is increased by complying with sustainability standards, good and continuous impact assessment is needed and this must be adapted to the especially complex conditions of African smallholder agriculture.
    Keywords: Sustainable development goals, Sub-Saharan Africa, cotton, agriculture, sustainability standard, consumption, natural resources, environment, smallholders, poverty
    Date: 2023
  55. By: Comin, Diego; Rode, Johannes
    Abstract: We estimate the causal effect of the diffusion of solar photovoltaic (PV) systems on the fraction of Green Party votes in federal and state elections in Baden-Württemberg, Germany. Our estimates are based on instruments that induce exogenous variation in roof appropriateness to PV installation. We find that PV adoption had a strong positive effect on Green Party votes. The effect is connected to the direct engagement of households with the PV system and does not reflect reciprocity to economic gains from PV. Our estimates likely reveal changing attitudes towards environmentally friendly values after adopting PV produced by cognitive dissonance.
    Date: 2023–06
  56. By: Atanasov, Atanas
    Abstract: В доклада се споделя виждането, че основният фокус на отчетността на предприятията трябва да бъде върху тяхната устойчивост – в широк смисъл – като финансовите й резултати са част от това, заедно с постигнатите резултати в управлението на екологични, социални и управленски (ESG) въпроси и те следва да намерят място в съвременното счетоводно образование. Целта на този доклад е да се извърши критичен анализ на съществуващите практики, свързани с включването на въпросите за нефинансовото (устойчиво) отчитане, в учебните планове на българските висши училища и на тази основа да се формулират конкретни изводи и препоръки с цел подобряване на нивото на подготовката на дипломираните студенти в контекста на съвременните бизнес реалности и предизвикателствата пред корпоративната отчетност. This report shares the view that the main focus of the corporate reporting should be on sustainability in a broad sense – with financial performance as part of this, along with environmental, social and governance (ESG) performance and these issues have to take place in the contemporary accounting education. The purpose of this paper is to carry out a critical analysis of the existing practices related to the inclusion of sustainable (non-financial) reporting issues in the accounting curricula of Bulgarian universities and, on this basis, to formulate specific conclusions and recommendations with the aim of improving the level of preparation of graduate students in the context of modern business realities and the challenges of contemporary corporate reporting.
    Keywords: accounting education, sustainability reporting, ESG
    JEL: M41
    Date: 2023
  57. By: Rodriguez, Julieta A.; Magnoni, Juan Máximo; D'Onofrio, Paula; Lupín, Beatriz
    Abstract: Argentina es uno de los principales países productores de alimentos en el mundo, pero en él se presentan importantes contradicciones vinculadas a la subalimentación y al impacto ambiental ocasionado de diversas formas. El objetivo del presente trabajo es evaluar, desde el enfoque de la contabilidad social ambiental, el grado de cumplimiento de los Objetivos de Desarrollo Sostenible (ODS) por parte del proyecto NODO (creado colaborativamente por tres bancos de alimentos). A tal fin, mediante el método de estudio de casos se analizan datos provenientes de entrevistas y de registros internos de NODO, durante el periodo enero-diciembre 2021.Los resultados obtenidos evidencian una importante contribución de NODO durante el año 2021 a los ODS 2 (hambre cero), 4 (educación de calidad), 12 (producción y consumo sostenible) y 17 (alianzas para alcanzar los objetivos).Palabras clave: contabilidad social y ambiental, hambre cero, educación de calidad, producción y consumo responsable, alianzas para alcanzar los objetivos.
    Keywords: Contabilidad Social; Medio Ambiente; Desarrollo Sostenible; Mar del Plata;
    Date: 2022
  58. By: Nerhagen, Lena (Dalarna University); Jussila Hammes, Johanna (Swedish National Road & Transport Research Institute (VTI))
    Abstract: This article explores the changes in central government administration due to European Union (EU) membership and their consequences for policy outcomes and economic efficiency in Finland and Sweden. Both countries became members of the EU in 1995. Upon joining the union, member states are expected to adopt common legislation and encouraged to develop similar rule-making procedures. The actual implementation of EU directives varies considerably between member states, however. This is also the case for Finland and Sweden. Despite the two Nordic countries for historical reasons having had similar government systems, upon becoming members of the EU they started to diverge. Using a model of delegation and comparing the more centralized Finnish system with the decentralized institutional setup in Sweden, we show that the Swedish approach leads to stricter than optimal environmental policy, which in turn makes EU policy non-optimal from a global point of view, ceteris paribus. We also provide empirical support for our findings in the form of some example-cases. We focus on environmental policy since this is an area that has been high on the EU agenda.
    Keywords: Environmental policy; European Union; Legislation; Economic efficiency; Delegation; Environmental federalism
    JEL: D02 D61 D73 P52 Q58
    Date: 2023–06–14
  59. By: Anthony Wiskich
    Abstract: Wind and solar are driving the clean transition in electricity: this paper uses panel data to investigate how these technologies substitute with dirty (fossil fuel) electricity generation. Production functions with a constant and a variable elasticity of substitution are estimated. Results suggest a higher elasticity of substitution than previous estimates, aligning with long-run analysis from electricity dispatch models and assumptions often made in economic models. Little evidence is found of the elasticity decreasing so far. However, the uptake of wind and solar decreases the utilisation rates of dirty capital.
    Keywords: elasticity of substitution, climate change, energy, electricity, production function
    JEL: O33 Q41 Q42 Q54 Q58
    Date: 2023–06
    Abstract: 본 연구는 기후변화가 아프리카·중동의 식량안보에 미치는 영향에 대한 연구를 통해 우리나라의 대아프리카 및 대중동 농업·식량 분야 정책시사점을 제공하는 데 목적이 있다. 가뭄, 홍수와 같은 기상이변이 아프리카와 중동지역에서 점차 빈번해지고 있으며, 특히 농산물 가격 상승과 영양 부족 인구 증가에 영향을 주고 있다. 이에 따라 아프리카·중동 주곡에 대한 품종 개발, 관개수로 시설 확대를 통한 수자원 확보, 기상재해 경보 시스템 도입과 같은 생산 측면에서의 협력과 더불어 소비 측면에서는 취약계층 지원을 위한 식량원조 역시 확대할 필요가 있다. As a result of the recent outbreak of the Russia-Ukraine war, the global agri-food supply chain has collapsed, thereby raising concerns about food security in Africa and the Middle East. The international community is paying greater attention to the issue of food security caused by climate change, which is actually affecting food supply and demand in Africa and the Middle East as a result of frequent weather conditions, such as droughts, flooding, and heat waves. As a result of an intensifying drought, North Africa increased its imports of external grain in January 2022, and East Africa has experienced droughts that have adversely affected its crops in recent years. It is therefore increasingly important for the international community to cooperate to respond to the food security crisis resulting from climate change, and Korea should expand its cooperation to address climate change, food security, and agriculture in Africa and the Middle East. Climate change has both a global and a national impact, and African and Middle Eastern developing countries, especially those with insufficient climate resilience, are particularly vulnerable to the impact of climate change on agriculture and food production. It is therefore necessary to develop policies that can help lead the discussion of climate change in the international community while also increasing support for the agri-food sector through official development assistance (ODA) funded by Korea. Accordingly, the purpose of this study was to analyze the food security crisis in Africa and the Middle East caused by climate change from the perspective of supply and demand, and to identify potential areas of cooperation. The Food and Agriculture Organization (FAO) defines food security as “a situation in which everyone is always physically, socially and economically accessible to a sufficient amount of safe and nutritious food, while meeting individual dietary needs and preferences for a healthy and active life.” Therefore, food security should be considered throughout the entire food production and consumption process, toward which this study also examined the current state of the African and Middle Eastern food security crisis, causes of food insecurity, and policies to address it.(the rest omitted)
    Keywords: 농업정책; ODA; Agricultural Policy
    Date: 2022–12–30
  61. By: Hansen, Gerrit; Geden, Oliver
    Abstract: Mit der Veröffentlichung seines Syntheseberichts im März 2023 hat der Weltklimarat IPCC sein Arbeitsprogramm im sechsten Berichtszyklus abgeschlossen. Die IPCC-Berichte, und insbesondere deren politische Zusammenfassungen, liefern eine wissenschaftliche Basis für die Verhandlungen im Rahmen der UN-Klimarahmenkonvention (UNFCCC). Sie sind ein zentraler Orientierungspunkt der globalen Klimadebatte. Der jüngste Synthesebericht (SYR) gilt als eine der wichtigsten Informationsquellen für die im Pariser Abkommen vorgesehene erste Globale Bestandsaufnahme, die auf der UNFCCC-Vertragsstaatenkonferenz in Dubai (COP 28) im Dezember 2023 abgeschlossen werden soll. Die wissenspolitischen Kontroversen, die bei der Verabschiedung der Zusammenfassung sichtbar wurden, spiegeln Interessengegensätze wider, die die anstehende Runde neuer Emissionsminderungs- und Finanzierungszusagen prägen werden.
    Keywords: UN-Klimarahmenkonvention, UNFCCC, Globale Bestandsaufnahme, Global Stocktake, Summary for Policymakers, SPM, Intergovernmental Panel on Climate Change, IPCC, Weltklimarat, Synthesebericht, Nationally Determined Contributions, NDCs, Klimawandelfolgen, Anpassung, Netto-Null-Emissionen, burning embers, overshoot
    Date: 2023
  62. By: Wermelinger, Martin
    Abstract: FDI can support sustainable development, but benefits are not automatic. This Perspective explores public policy considerations to increase the positive impacts of FDI - ranging from policy coherence, regulatory balance and smart use of tax incentives to the role of investment promotion agencies and the donor community as facilitators.
    Date: 2023
  63. By: Hernández Rosario, Anna Cristina
    Abstract: This publication analyses the state-of-the-art in international development cooperation, with a focus on South-South and triangular cooperation, based on a bibliographic and documentary review of more than 80 publications published between 2013 and 2022. The contents are organized under four headings: (i) development in transition as a foundation, (ii) multi-stakeholder environment: identification of key stakeholders, (iii) challenges and priorities in South-South and triangular cooperation, and (iv) towards the reconfiguration of South-South and triangular cooperation as a development tool: a collective approach. Through a review of concepts and proposals discussed in Latin America and the Caribbean over the last ten years, the author reflects on some of the challenges facing international development cooperation —and South-South and triangular cooperation in particular— in the context of the new development challenges shaped by the spirit of universality and indivisibility of the 2030 Agenda and its Sustainable Development Goals (SDGs).
    Date: 2023–05–23
    Abstract: 최근 ESG(환경, 사회, 지배구조)에 대한 관심이 높아지면서 ESG 평가 및 데이터에 관한 관심 역시 높아지고 있다. ESG 평가기관은 기업의 지속가능공시 등을 참고하여 ESG 데이터를 수집하고 자체 기준에 따라 ESG 점수 및 등급을 발표한다. 그러나 평가기관별로 다른 평가 기준을 사용하며 평가에 포함되는 항목이 매우 다양하기 때문에 ESG 점수 및 등급의 상관관계는 낮은 편으로 알려져 있다. 이에 본 연구는 국내외 주요 ESG 평가기관의 특성에 대해 분석하고 ESG 점수 상관관계 및 점수 차이의 원인을 국내기업에 한정하여 분석하였다. In response to increasing demand for sustainable management, adopting Environmental, Social, and Governance (ESG) measures is now more important than ever. Firms now must disclose ESG performance to receive investment and meet the regulation making ESG disclosure mandatory in many countries and exchanges. With growing intertest in ESG and relating topics, evaluating firms’ ESG performance become necessary. Many regional and global ESG raters exist, focusing on different sets of firms. Regional ESG raters such as Sustinvest and Korea Institute of Corporate Governance and Sustainability (KCGS) in Korea are more knowledgeable in domestic situations and Korea-specific characteristics, and in particular, they can evaluate companies without English ESG and business reports. However, regional raters mostly focus on domestic firms, making it difficult to compare to internatioanl companies. Global raters have an advantage in this regard, however, their coverages in Korea are restricted to very large global companies. Major global raters include Sustainalytics, Moody’s, MSCI, S&P Global, CDP, Refinitiv, Bloomberg, and FTSE. Unlike credit ratings, ESG evaluation is heterogenous across raters as a company’s ESG performance is assessed using non-financial indicators with strong qualitative characteristics. Divergence in ESG evaluation is inevitable due to difference in eveluation objective, standards, categories, measurement, etc. However, if ESG ratings diverge too much, it misleads the investors and researchers by sending confusing signals on ESG performance. This research focuses on the divergence of ESG rating of Korean firms, and by following previous research that decompse ESG rating divergence in scope, measurement, and weighting. Chapter 2 analyzes the major raters’ methodologies, standards, objectives of ESG ratings. We focus on Sustinvest and KCGS for regional raters, and Refinitiv, Moody’s, Sustainalytics, and CDP for global raters. Each rater focuses on heterogeneous factors to produce the final scores and ratings. Except for CDP, the objective of global raters’ ESG rating is to provide information to investors, as a part of their financial service.(the rest omitted)
    Keywords: 기업경영; 금융제도; ESG; ESG 평가 점수; Corporate management; financial system; ESG; ESG evaluation score
    Date: 2022–12–30
  65. By: Riccardo Camboni (University of Padova); Alberto Corsini (Spanish National Research Council and OIPE); Raffaele Miniaci (University of Brescia); Paola Valbonesi (University of Padova)
    Abstract: We assess the efficiency of a bonus financed by the government to support energy renovation of dwellings and the related CO2 emissions reduction. The bonus considered is a fixed percentage of the cost of the energy improvement. Efficiency of this policy is assessed by comparing the cost of the bonus with the cost of individually tailored subsidies that a fully informed government would have paid to achieve the same CO2 reduction. Relying on the Energy Performance Certificates (EPCs) dataset, which includes information on characteristics of the buildings, recommendations to improve their energy efficiency and related CO2 reduction, we derive the costs and benefits of three bonuses levels (25%, 50%, and 75%) of the upfront cost to implement EPCs recommendation. Matching our data with the socio-economic characteristics of the household most likely to live in the observed dwellings shows that without any bonus, only 15% of the recommended efficiency enhancing investments have a positive private net present value (NPV) and their upfront cost averages about 22% of annual household spending; a bonus of 50% of the upfront costs brings the percentage of recommended investments with positive NPV to 30% and reduces the incidence on the annual household budget to 11%.
    Keywords: CO2 emissions, policy design
    Date: 2023–05
  66. By: -
    Abstract: A biotecnologia é uma área que gera inovações constantemente. Nessa área dinâmica e considerando a própria natureza do processo inovador, o desenvolvimento tecnológico é uma área frutífera e em contínua expansão, o que requer um esforço contínuo de aprimoramento das políticas públicas. Nesse sentido, a alteração das normas e critérios de patenteabilidade de invenções biotecnológicas tem sido uma demanda frequente de agentes inovadores desse campo. O presente documento é fruto de uma cooperação entre a Comissão Econômica para a América Latina e o Caribe (CEPAL), o Instituto Nacional da Propriedade Industrial (INPI) e o Ministério do Desenvolvimento, Indústria, Comércio e Serviços (MDIC). Seu objetivo é realizar uma avaliação dos critérios de patenteabilidade para biotecnologias em países selecionados, bem como coletar percepções e sugestões dos usuários do sistema de patentes, para servir de subsídio a futuras políticas e ao aperfeiçoamento dos serviços de patenteabilidade na área.
    Date: 2023–05–19
  67. By: Julia M. Puaschunder (Columbia University, Graduate School of Arts and Sciences)
    Abstract: In the age of global warming, pandemics and political East-West tensions, the time for science diplomacy has come. Science diplomacy originated during the Cold War era when institutions, such as the International Institute for Applied Systems Analysis, built institutional foundations to connect scientists via empirical and rational facts in order to solve global issues of concern aside from potential political realities and country stance differences. Today’s most pressing international challenges in climate change, pandemic prevention and resilient finance despite rising East-West tensions call for a renewed spirit to discuss global problems without political biases and historic international customary practice.
    Keywords: Climate change, Cultural diplomacy, Global common goods, Global warming, Negotiation, Negotiation Leadership
    Date: 2022–08
  68. By: Shapland, Greg
    JEL: R14 J01
    Date: 2023–05–01
  69. By: Cosaert, Sam (University of Antwerp); Nieto, Adrián (University of Nottingham); Tatsiramos, Konstantinos (University of Luxembourg, LISER)
    Abstract: We combine exogenous variation in temperature at the county-day level in the U.S. with daily time use data to examine the effect of temperature on joint time use. We show that low temperatures reduce time spent with friends but increase time spent with family. Conversely, high temperatures increase time alone but reduce time with family. We also provide evidence of the effect of temperature on joint time use being location-dependent. We rationalize this finding using a model in which the chosen time allocation is the outcome of a dual-self decision process with an indoor and an outdoor self. The two selves have different tastes for time alone, time with family, and time with friends. Weather conditions can change the influence of each self, and thereby the corresponding preferences for joint time use. We test the predictions of the model empirically by drawing on methods from the household economics literature. The test results support the hypothesis that weather affects joint time use insofar it affects where the activities take place.
    Keywords: temperature, joint time use, social interactions, dual-self model, indoors, outdoors
    JEL: D70 I31 J22 Q51 Q54
    Date: 2023–05
  70. By: Rachel Soloveichik (Bureau of Economic Analysis)
    Abstract: Natural resources are everywhere, and reported wellbeing is highly correlated with the quantity and quality of natural resource services like weather and biodiversity (Levinson 2012) (MacKerron and Mourato 2013) (Methorst et al. 2021). Yet, natural resources are currently classified as non-produced assets (U.N. Statistics Division sec. 10.14), and therefore natural resource services cannot be attributed to either labor inputs now or capital investment in the past. For those used to thinking about consumption growth as a consequence of labor growth or capital growth, this raises immediate concern that natural resource service growth is unmeasured within the standard gross domestic product (GDP) framework. Furthermore, this concern has evolved into arguments that GDP growth is a fundamentally flawed measure of wellbeing growth (Stiglitz et al. 2009). This paper proposes a framework where natural resource service growth is attributed to an intangible asset: exploration. For example, a utility might start out with a non-produced watershed and then increase the watershed’s value by searching for the aquifer with the cleanest water. The proposed framework is an adaptation of the framework currently used to track mineral exploration (U.N. Statistics Division sec. 10.106-108). The paper then applies that framework to the U.S. GDP statistics. Tracking exploration raises measured investment in every year studied but does not change real GDP growth or real consumption growth noticeably. However, real asset growth increases by 0.05 percentage point per year between 1929 and 2019. Due to the faster growth of real assets used in production, for-profit business productivity growth falls by 0.01 percentage point per year between 1948 and 2019. Taken together, these empirical results suggest that broadening the scope of GDP to better track natural resource services does not fundamentally change growth.
    JEL: E01 O17 Q50
    Date: 2022–07
  71. By: Bard, AI
    Abstract: The Bayesian Mindsponge Framework can be used to study organizational vision and its associated values in a number of ways. First, the framework can be used to identify the core values of an organization. These values are the foundation of the organization's vision and will influence how new values are learned and unlearned. Second, the framework can be used to identify the sustainability context in which the organization operates. This context will include the environmental, social, and economic factors that the organization must consider when making decisions. Third, the framework can be used to identify the ways in which organizational members learn and unlearn values. This can be done by studying the organization's training programs, employee development initiatives, and other learning opportunities. Fourth, the framework can be used to track how organizational members' values change over time. This can be done by surveying employees, conducting focus groups, and analyzing other data sources. Fifth, the framework can be used to identify the factors that influence how organizational members learn and unlearn values. These factors may include the organization's culture, leadership, and policies. By following these steps, researchers can gain a better understanding of how organizational vision and its associated values can be learned and unlearned in the sustainability context. This information can be used to develop strategies to help organizations promote sustainable values.
    Date: 2023–05–22
  72. By: Saeed Nosratabadi; Thabit Atobishi; Szilard HegedHus
    Abstract: In the EU-27 countries, the importance of social sustainability of digital transformation (SOSDIT) is heightened by the need to balance economic growth with social cohesion. By prioritizing SOSDIT, the EU can ensure that its citizens are not left behind in the digital transformation process and that technology serves the needs of all Europeans. Therefore, the current study aimed firstly to evaluate the SOSDIT of EU-27 countries and then to model its importance in reaching sustainable development goals (SDGs). The current study, using structural equation modeling, provided quantitative empirical evidence that digital transformation in Finland, the Netherlands, and Denmark are respectively most socially sustainable. It is also found that SOSDIT leads the countries to have a higher performance in reaching SDGs. Finally, the study provided evidence implying the inverse relationship between the Gini coefficient and reaching SDGs. In other words, the higher the Gini coefficient of a country, the lower its performance in reaching SDGs. The findings of this study contribute to the literature of sustainability and digitalization. It also provides empirical evidence regarding the SOSDIT level of EU-27 countries that can be a foundation for the development of policies to improve the sustainability of digital transformation. According to the findings, this study provides practical recommendations for countries to ensure that their digital transformation is sustainable and has a positive impact on society.
    Date: 2023–05
  73. By: Patricio Goldstein (Center for International Development at Harvard University); Timothy Freeman; Alejandro Rueda-Sanz; Shreyas Gadgin Matha; Sarah Bui; Nidhi Rao; Timothy Cheston (Center for International Development at Harvard University); Sebastian Bustos (Center for International Development at Harvard University)
    Abstract: The Colombian Amazon faces the dual challenge of low economic growth and high deforestation. High rates of deforestation in Colombia have led to a perceived trade-off between economic development and protecting the forest. However, we find little evidence of this trade-off: rising deforestation is not associated with higher economic growth. In fact, the forces of deforestation of some of the world’s most complex biodiversity are driven by some of the least complex economic activities, like cattle-ranching, whose subsistence-level incomes are unable to meet the economic ambitions for the region. All the while, the majority of the Amazonian departments’ population works in non-forested cities and towns, at a distance from the agriculture frontier that forms the “arc of deforestation.” The relative urbanization of the Amazonian departments, despite the vast land mass available, recognizes that prosperity is achieved through close social-economic interactions to expand the knowledge set available to be able to produce more, and more complex activities. Achieving economic goals therefore relies on creating new productive opportunities in non-forested, urban areas.
    Keywords: Colombia, Peru, Amazon Rainforest, deforestation
    Date: 2023–02
  74. By: Nmadu, Job Nda; Mohammed, Usman S.; Nmadu, Yebosoko T.; Sallawu, Halima; Nmadu, Sokoyami B.; Ndanitsa, Mohammed A.; Yisa, Ezekiel S.; Baba, Kpotun M.; Amos, Taiwo T.; Jirgi, Abigail J.
    Keywords: Research Methods/Statistical Methods, International Development, Productivity Analysis
    Date: 2023
  75. By: yeboah, samuel; James Nyarkoh, Bright
    Abstract: This article presents a comprehensive review of the impact of International Monetary Fund (IMF) programs on the Ghanaian economy during the period between 1992 and 2020. The study examines the achievements, challenges, and criticisms associated with these programs, with a specific focus on macroeconomic stability, debt relief, and the implementation of structural reforms. The review highlights the positive outcomes of IMF programs in Ghana, including the successful attainment of macroeconomic stability through fiscal consolidation, inflation control, and effective exchange rate management. Furthermore, debt relief initiatives under the Heavily Indebted Poor Countries (HIPC) and Multilateral Debt Relief (MDR) programs have significantly alleviated Ghana's debt burden, enabling the redirection of resources towards investment and development. The implementation of structural reforms has also enhanced the efficiency and competitiveness of key sectors such as finance, trade, and agriculture. However, the review acknowledges the challenges and criticisms surrounding IMF programs in Ghana. Notably, concerns arise regarding inequality, as certain policies have had uneven distributional impacts, exacerbating social disparities. Additionally, the social consequences of these programs, particularly in areas such as healthcare and education, have raised concerns about the welfare of vulnerable populations. The sustainability of the implemented reforms is also a subject of scrutiny, as long-term durability necessitates continuous monitoring and evaluation of fiscal consolidation efforts, debt management strategies, and structural reforms. Furthermore, environmental implications, particularly in terms of natural resource management and sustainable development practices, require careful consideration. The experiences and lessons learned from IMF programs have significantly influenced Ghana's economic policies and continue to shape ongoing efforts towards achieving sustainable and inclusive growth. In light of the findings, this review offers policy recommendations to address the identified challenges, including strengthening social safety nets, promoting inclusive growth, enhancing revenue mobilization, and bolstering institutional capacity.
    Keywords: IMF programs, Ghanaian economy, macroeconomic stability, debt relief, structural reforms, inequality, social impacts, sustainability, policy recommendations, and future research directions
    JEL: E02 E44 F33 O55
    Date: 2023–04–10
  76. By: Pilon, André Francisco / AF
    Abstract: An ecosystem theoretical and practical framework is posited for the evaluation and planning of advocacy, communication, public policies, research and teaching programmers, intertwining four dimensions of being-in-the-world (intimate, interactive, social and biophysical), as they combine, as donors and recipients, to induce the events (deficits/assets), cope with consequences (desired/undesired) and contribute for change (potential outputs). Earth’s regeneration and mankind’s regeneration, as faces of the same coin, are addressed simultaneously, in space and time, for their mutual support. Goals and new paths to reach them contemplate a set of values, norms and policies that prioritizes socio-ecological objectives, human well-being, natural and built environments, the aesthetic, ethical and cultural meaning of the existence.
    Keywords: Education, Culture, Politics, Economics, Ethics, Environment
    JEL: I23 I28 O21 O35 Z1 Z13 Z18
    Date: 2023–05–23
  77. By: Wibbenmeyer, Matthew (Resources for the Future); Joiner, Emily (Resources for the Future); Wear, David N. (Resources for the Future)
    Abstract: Despite large recent investments by Congress, the costs of fuel removal and forest restoration needs in the western United States dramatically exceed available funding. Engaging the private sector may provide a means for enhancing the pace and scale of fuel removals to reduce wildfire hazard, but thus far this strategy—which has typically focused on increasing demand for small-diameter fuels—has not been broadly successful. To assess the economics of fuel treatments in the western United States, we develop a spatially explicit model of the revenues and costs of fuel removal in Idaho and Montana, under a variety of treatment scenarios. We find that fuel treatment sales would not be economically feasible across most of the study region unless prices of small-diameter material were to rise significantly, potentially via subsidies or another policy. Nevertheless, under current market conditions, bundling small amounts of sawtimber harvest with treatments is capable of dramatically expanding treatable area. Such an approach is a promising path to reducing fire hazard on public lands; however, a different approach will be necessary to encourage fuel removal on private lands, which make up a disproportionate share of forested lands near communities.
    Date: 2023–06–12
  78. By: Paul, Michael
    Abstract: Im Unterschied zu seinen Vorgängern hat US-Präsident Joe Biden schon früh in seiner Amtszeit wichtige Entscheidungen getroffen, um eine bessere Koordination der amerikanischen Arktispolitik zu ermöglichen. Dazu zählt auch die nationale Arktisstrategie. Sie kam infolge des russischen Angriffskriegs später als geplant: Russland hat damit die wenigen, noch verbliebenen Hoffnungen auf Zusammenarbeit zerstört und die Arktis zu einem Thema der Sicherheitspolitik gemacht. Alaska steht als der nördlichste Bundesstaat naturgemäß im Mittelpunkt der US-Arktispolitik, die zunehmend auch chinesische Aktivitäten berücksichtigen muss. Zuletzt entdeckte die US-Küstenwache im September 2022 chinesische und russische Kriegsschiffe vor Alaska. Derzeit steht nur ein einziger US-Eisbrecher kontinuierlich für die Arktis zur Verfügung, der die Souveränität im Eismeer schützen und Seeräume mit Eisbedeckung überwachen kann. Der US-Bundesstaat lag auch auf der Route des chinesischen Spionageballons, der im Februar 2023 abgeschossen wurde. Gibt es nun nach Jahrzehnten mangelnder Aufmerksamkeit eine engagiertere Sicherheitspolitik der USA in der Arktis?
    Keywords: KW, Arktis, Arktisstrategie, Arktispolitik, Nordpolarregion, Arktischer Rat, Alaska, Nordostpassage, Arctic Caucus, Lisa Murkowski, U.S. Coast Guard, USCG, Arctic Executive Steering Committee, AESC, U.S. Arctic Research Commission, USARC, Ted Stevens Center for Arctic Security Studies, Multidisciplinary drifting Observatory for the Study of Arctic Climate, MOSAiC, North American Aerospace Defense, NORAD, Ice Exercise, ICEX
    Date: 2023
    Abstract: 한국과 호주는 핵심광물과 수소 분야의 상호보완적 경쟁력을 바탕으로 양국간 협력 필요성이 증대되고 있다. 본 보고서에서는 호주의 핵심광물 및 수소 분야 정책과 대외협력 현황을 분석하였다. 이를 바탕으로 한국과 호주의 핵심광물 및 수소 분야의 공급망 협력 방안을 도출하였다. The U.S.-China rivalry and COVID-19 have increased the supply chain's vulnerability and reshaped the global value chain. The weaponization of resources, such as Russia's natural gas export restrictions in response to the war in Ukraine, demonstrates that the government must take urgent measures to stabilize the supply chain. Korea relies entirely on critical minerals such as lithium, cobalt, nickel, and rare earths from other countries because these minerals are essential for the electric vehicle and secondary battery industry. Moreover, Korea will increasingly rely on hydrogen imports to achieve carbon neutrality by 2050. Korea and Australia signed a memorandum of understanding on December 2021 for cooperation in the area of critical mineral supply chains, carbon-neutral technology and a clean hydrogen economy. Australia is the world's largest producer of lithium and contains large deposits of other critical minerals such as nickel, of which it has the largest reserves in the world. Australia has a favorable geographical environment for producing hydrogen. Australia also has the advantage of being relatively close to Korea, and is one of the countries expected to become a major hydrogen-exporting country. From Australia’s point of view, Korea offers a stable demand for critical minerals and hydrogen. Therefore, bilateral cooperation to stabilize the supply chain is expected to increase. Accordingly, this study analyzes Australia’s policy on critical minerals and hydrogen, and the current status of international cooperation. Based on this, effective measures to strengthen the supply chain cooperation between Korea and Australia are derived. The Australian government announced its critical minerals strategy in 2019 and 2022. This critical minerals strategy and modern manufacturing initiative were launched to boost the weak indigenous manufacturing sector. The Australian government is also aiming to boost the capacity of downstream industries by leveraging its strengths in the mining sector of critical minerals. This policy is also found in Western Australia’s Future Battery Industry Strategy and Critical Minerals and High-tech Metal Strategy announced by the state government. In addition, the Australian Government has announced the National Hydrogen Strategy in 2019 under the vision of becoming a leading country in the global hydrogen industry by 2030.(the rest omitted)
    Keywords: 경제협력; 경제안보; 한국; 호주; 공급망; 핵심광물; 탄소중립; Economic Cooperation; Economic Security; Korea; Australia; Supply Chain; Core Minerals; Carbon Neutrality
    Date: 2022–12–30
  80. By: Margherita Bellanca (Ca’ Foscari University of Venice Department of Environmental Sciences, Informatics and Statistics); Alessandro Spiganti (Ca’ Foscari University of Venice; RFF-CMCCEuropean Institute on Economics and the Environment (EIEE), Centro Euro-Mediterraneo sui Cambiamenti Climatici, Italy)
    Abstract: We study how inequality affects the feasibility of an international agreement on the provision of an environmental public good in a two-country two-level political economy model. At the international level, two negotiators try to agree on the respective country’s provision of the public good under different international equity rules, knowing that this agreement will need to be accepted by the median voter in each country. At the national level, agents’ preferences for the public good depend on their relative income position, which implies that negotiators must also take into account the level of inequality within their country. We show that the feasibility of the agreement and the distribution of the gains from cooperation depends on the equity rule imposed, on the levels of within-country inequality, and on the level of cross-country inequality.
    Keywords: Equity Rules, Environmental Public Goods, Median Voter, Public Support, Relative Income Hypothesis
    JEL: H23 Q52 D72 H77
    Date: 2023
  81. By: Andrea Bafundi (University of Padova); Riccardo Camboni (University of Padova); Edoardo Grillo (University of Padova); Paola Valbonesi (University of Padova)
    Abstract: This paper studies how severe weather events (SWEs) affect the awarding procedures of public procurement contracts. We draw on a large dataset of Italian public procurement tenders for the construction and the maintenance of buildings and roads in the period 2008-2021. We find that municipalities previously hit by SWEs during the execution of procurement works are more likely to adopt procurement procedures that give them discretion in the selection of participating firms. When the firm winning the contract has already worked with the municipality in the past, such discretion reduces the likelihood of time overruns in work completion. Relational contracts aimed at overcoming the contractual incompleteness caused by SWEs can explain the previous findings. In a simple theoretical setting, we show that the public buyer can reward firms that handled past SWEs well by selecting them as participants in future tenders.
    Keywords: Public procurement; relational contract; severe weather events
    Date: 2023–05
  82. By: Khalid Alhadhrami (King Abdullah Petroleum Studies and Research Center)
    Abstract: This study presents the methodology for the KAPSARC Distribution Hosting Capacity Tool (KDHCT). This tool can support the future of renewable energy in Saudi Arabia. The use of distributed energy resources (DERs), such as solar panels, energy storage and electric vehicles (EVs), is expected to increase. The KDHCT evaluates how many of these assets a particular distribution system can accommodate. The number of DERs and the load that an electric distribution system can reliably accommodate without significant grid upgrades is called its hosting capacity (HC) (Abad, Ma, and Han 2019). HC analysis informs electricity customers and utilities about the best places and times to install DERs and EVs on any distribution system. Thus, utilities can avoid reliability problems and costly distribution system upgrades.
    Keywords: Battery storage, Benefits of electricity trade, Business models, Climate change
    Date: 2023–05–14
  83. By: José Luis Hervás
    Abstract: En este trabajo se aborda uno de los asuntos que mayor polémica suele generar en el ámbito de la gestión del agua: los trasvases. La finalidad del trabajo no es ofrecer soluciones cerradas a un asunto que es inherentemente complejo, sino aumentar el grado de conocimiento sobre esta realidad y, sobre todo, poner sobre la mesa su discusión. Para ello, conviene despojarlo del carácter emocional con el que muchas veces se trata esta cuestión. Como se describe en esta nota, los trasvases en España ya existen y van más allá del bien conocido trasvase Tajo-Segura. Pero sin duda, en un contexto de cambio climático que tenderá a aumentar las dificultades de suministro con consecuencias desiguales sobre el territorio, los trasvases son una herramienta potencialmente importante a cuya viabilidad, diseño y gestión deberemos dedicar una atención creciente en el futuro.
    Date: 2023–06
  84. By: International Food Policy Research Institute (IFPRI)
    Abstract: IFPRI’s 2022 Annual Report presents highlights from our research work in low- and middle-income countries and on global challenges. In 2022, IFPRI provided critical analysis on the food systems impact of the Russia-Ukraine war and related food, fertilizer, and fuel price crisis, as well as the ongoing COVID-19 pandemic. Work in our strategic research areas—climate resilience and sustainability, healthy diets and nutrition, inclusive and efficient food systems, institutions and governance, and rural transformation, as well as cross-cutting work on gender—continued to inform policies and programs to end hunger and malnutrition sustainably at both national and global levels.
    Keywords: WORLD; agricultural research; agricultural policies; food security; gender; poverty; developing countries; resilience; food systems; Coronavirus; coronavirus disease; Coronavirinae; COVID-19; climate change; sustainability; trade; diet; governance
    Date: 2023
  85. By: Isaac K. Ofori; Andreas Freytag; Simplice A. Asongu
    Abstract: This study examines the contingency and threshold effects of economic freedom in the economic globalisation (EG) and inclusive green growth (IGG) relationship in Africa. Based on macro data for 22 African countries and the Driscoll-Kraay standard errors with fixed effects instrumental variable regression, the following findings are established. First, Africa’s mostly unfree economic setting, conditions EG to reduce IGG. Second, when we disaggregate EG into its financial and trade globalisation components, we find that the IGG-impeding net effect of the latter is rather striking. Third evidence from our threshold analysis suggests that by improving Africa’s mostly unfree economic architecture to 60% (moderately free) or 80% (free), the IGG-deteriorating net effects of EG are mitigated (but not nullified). We conclude that unless effort is made to improve Africa’s economic architecture level, the envisaged IGG gains of economic globalisation might prove elusive.
    Keywords: Africa, economic freedom, economic globalisation, inclusive green growth
    JEL: F14 F40 O56 Q01
    Date: 2023
  86. By: Dirk Lauinger; Fran\c{c}ois Vuille; Daniel Kuhn
    Abstract: Low-carbon societies will need to store vast amounts of electricity to balance intermittent generation from wind and solar energy, for example, through frequency regulation. Here, we derive an analytical solution to the decision-making problem of storage operators who sell frequency regulation power to grid operators and trade electricity on day-ahead markets. Mathematically, we treat future frequency deviation trajectories as functional uncertainties in a receding horizon robust optimization problem. We constrain the expected terminal state-of-charge to be equal to some target to allow storage operators to make good decisions not only for the present but also the future. Thanks to this constraint, the amount of electricity traded on day-ahead markets is an implicit function of the regulation power sold to grid operators. The implicit function quantifies the amount of power that needs to be purchased to cover the expected energy loss that results from providing frequency regulation. We show how the marginal cost associated with the expected energy loss decreases with roundtrip efficiency and increases with frequency deviation dispersion. We find that the profits from frequency regulation over the lifetime of energy-constrained storage devices are roughly inversely proportional to the length of time for which regulation power must be committed.
    Date: 2023–06
  87. By: Gérard Mondello (Université Côte d'Azur, France; GREDEG CNRS)
    Abstract: This article analyzes Coase's notion of "legal rights" in "The Social Cost Problem" and focuses on the part devoted to zero transaction costs. "Legal rights" cover different types of civil rights that Coase groups together in a common understanding in order to facilitate transactions between agents. This article reintroduces the specificity of civil rights in the theoretical examples and case law analyzed by Coase. As a result, neither the effectiveness nor the invariance of Coase's theorem can be proved any more.
    Keywords: Legal rights, property rights, Coase, Social Cost, Case law, Coase theorem
    JEL: D62 K13 K23 K32 Q52 Q58
    Date: 2023–03

This nep-env issue is ©2023 by Francisco S. Ramos. It is provided as is without any express or implied warranty. It may be freely redistributed in whole or in part for any purpose. If distributed in part, please include this notice.
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NEP’s infrastructure is sponsored by the School of Economics and Finance of Massey University in New Zealand.