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on Environmental Economics |
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Issue of 2024‒07‒22
ninety-six papers chosen by Francisco S. Ramos, Universidade Federal de Pernambuco |
| By: | Gbolonyo, Emmanuel Y.; Ofori, Isaac K.; Ojong, Nathanael |
| Abstract: | Despite the growing scholarly attention concerning the effect of economic complexity (ECI) on inclusive growth and the environment, there remain some pertinent gaps in the literature. First, previous studies have not explored the effect of ECI on inclusive green growth (IGG). Second, prior contributions have not assessed the role of energy consumption (disaggregated into renewable and non-renewable) in the relationship between ECI and IGG. This study addresses these gaps by using macro data for 22 selected African countries. Robust evidence based on the dynamic system GMM and the Driscoll-Kraay standard errors estimators reveal that economic complexity promotes IGG. Additionally, the contingency analysis reveals that non-renewable energy diminishes the IGG-enhancing effect of ECI, whereas renewable energy amplifies it. Finally, when we decompose IGG into environmental and socioeconomic sustainability, we find that the ECI-energy consumption interaction has a greater effect on the latter rather than the former. We conclude that investments for boosting Africa's productive knowledge and renewable energy capacities are crucial for IGG. |
| Keywords: | Africa, Economic Complexity, Renewable Energy Consumption, Inclusive Green Growth |
| JEL: | O44 O55 Q01 Q43 Q56 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:esprep:298785 |
| By: | Dirk Pilat (The Productivity Institute) |
| Keywords: | Climate change, net zero, environmentally-adjusted productivity measurement |
| Date: | 2024–04 |
| URL: | https://d.repec.org/n?u=RePEc:anj:ppaper:032 |
| By: | John Van Reenen; Agnes Norris Keiller |
| Abstract: | Climate change is making natural disasters more frequent, yet little is known about the capacity of firms to withstand such disasters and adapt to their increased frequency. We examine this issue using a the latest wave of the World Management Survey (WMS) that includes new questions on firms’ climate change perceptions and adaptation behavior. Combining this with geocoded data on natural disasters and previous WMS waves, we create a panel spanning 8, 000 firms across 33 countries and three decades that shows exposure to disasters decreases growth inputs, outputs and firm survival. More importantly, firms with structured management practices are more resilient, suffering much smaller drops in jobs and capital. To understand the mechanisms behind this resilience, we use the new WMS climate questions to show better managed firms have more accurate perceptions of climate-related risks to their businesses. Such firms are also more likely to have implemented measures to adapt to climate change both overall and in response to their perceived climate risk. Other aspects of firm organisation, such as decentralisation, also help protect against disasters, but their adaptation behaviour is not well-targeted. These results show that improving management is one way to help protect economies from climate change shocks. |
| JEL: | Q54 |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:32595 |
| By: | Briera Thibault (AgroParisTech, CIRED - Centre International de Recherche sur l'Environnement et le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique); Julien Lefèvre (AgroParisTech, CIRED - Centre International de Recherche sur l'Environnement et le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Credible climate policy commitments are crucial for aligning decision-makers' expectations with policy objectives, thereby catalyzing timely low-carbon investments. However, Integrated Assessment Models (IAMs), the primary numerical tools for evaluating solution spaces, policy timing, and investment dynamics in mitigation scenarios, have largely neglected this critical issue. Here, we introduce a framework for addressing credible climate policy commitments with IAMs and conduct a quantitative assessment of their significance for global climate policy effectiveness in achieving long-term goals. We clarify the shortcomings of existing narratives and analytical approaches, proposing a method to integrate a more sophisticated representation of policy credibility in an IAM. Our findings demonstrate that failing to get expectations right can increase cumulative CO2 emissions by 11% compared to scenarios with perfect policy foresight. By 2035, the emissions gap can be as high as 45% in the power sector with regard to the perfect foresight case, under low credibility and limited foresight on policy implementation, highlighting the adverse interplay between capital inertia and low policy credibility. These results underscore the urgent need to explicitly incorporate the credibility of policy commitments into the tools used for climate policy-making. |
| Date: | 2024–06–20 |
| URL: | https://d.repec.org/n?u=RePEc:hal:ciredw:halshs-04619188 |
| By: | Srdelic, Leonarda |
| Abstract: | To identify sectors in Croatia that are particularly sensitive to the European Union's measures for transitioning to a low-carbon economy, this paper analyses data from the United Nations Framework Convention on Climate Change (UNFCCC) on greenhouse gas emissions. The aim is to identify the sectors that contribute most to climate change, assess their effectiveness in implementing emission reduction policies, and achieve sustainable development goals. Based on the analysis, it is clear that the energy, transport, and industrial processes sectors are key in the context of sensitivity to EU climate policies. In contrast, the Land Use, Land-Use Change and Forestry sector stands out as offering unique opportunities for mitigating climate change through carbon sequestration activities and thereby achieving climate neutrality. |
| Keywords: | transition risks, climate change, greenhouse gas emissions, Croatia, euro area |
| JEL: | E01 Q54 Q58 |
| Date: | 2024–06–25 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:121318 |
| By: | Ullah, Asad; Ali, Amjad |
| Abstract: | The aim of this study is to investigate the intricate relationship between corruption, income inequality, and environmental degradation in Pakistan using time series data spanning from 1980 to 2022. Employing a rigorous empirical approach, we utilize a combination of statistical tests, including the Augmented Dickey Fuller and Dickey Fuller Generalized Least Square unit root tests, alongside the autoregressive distributed lag approach to cointegration and an error correction model. Our empirical analysis yields several key findings that shed light on the complex dynamics at play. Firstly, we confirm the presence of an Environmental Kuznets Curve (EKC) in the context of Pakistan, suggesting that environmental degradation initially worsens with economic development before reaching a turning point and subsequently improving. Moreover, our results reveal intriguing insights into the interplay between corruption, income inequality, and environmental degradation. Specifically, we find that in the absence of corruption, income inequality exhibits a negative correlation with environmental degradation, implying that a more equitable distribution of income may mitigate environmental pressures. However, this relationship is reversed in the presence of corruption, where the combined effect of corruption and income inequality exerts a positive impact on environmental degradation in the long run. These findings underscore the multifaceted nature of the relationship between socio-economic factors and environmental outcomes, highlighting the importance of considering contextual factors such as corruption in understanding environmental degradation dynamics. Furthermore, our results have significant implications for policymakers and stakeholders tasked with formulating strategies to address environmental challenges in Pakistan. By recognizing the intertwined nature of corruption, income inequality, and environmental degradation, policymakers can develop more targeted and effective interventions aimed at promoting sustainable development and fostering environmental stewardship. From enhancing anti-corruption measures to implementing policies that promote income equality and environmental sustainability, there exists a range of avenues through which Pakistan can navigate towards a more sustainable and equitable future. This study contributes to the growing body of literature on the nexus between corruption, income inequality, and environmental degradation, providing valuable insights for policymakers, researchers, and practitioners alike. By elucidating the underlying dynamics and implications of these relationships, we aim to inform evidence-based policy interventions that promote sustainable development and environmental conservation in Pakistan and beyond. |
| Keywords: | Corruption, Income Inequality, Environmental Degradation, Sustainable Development |
| JEL: | O13 O15 Q56 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:121291 |
| By: | Sulehri, Fiaz Ahmad; Ali, Amjad |
| Abstract: | The concept of sustainable development holds immense importance for both current and future generations. This study investigates the manner in which economic growth acts as a mediator in the relationship between sustainable development and the regulatory framework. We have utilized the structural equation modeling technique to investigate the direct and indirect impacts of exogenous and endogenous variables. We executed this investigation using a sample of 24 countries that accounted for about 65% of global greenhouse gas emissions between 2000 and 2019. According to empirical results based on direct effects, the regulatory framework hinders sustainable development and economic growth. The empirical findings indicate that the regulatory framework has a noteworthy and favorable indirect influence on sustainable development, with economic growth serving as a mediating factor. Furthermore, because of the positive indirect effect, the regulatory framework's negative direct effect on sustainable development outweighs its total adverse effect. In the end, legislators should give utmost importance to creating a balanced regulatory framework that promotes economic expansion while incorporating concepts of environmental, social, and economic sustainability to ensure the well-being of present and future generations. |
| Keywords: | Regulatory Framework, Economic Growth, Sustainable Development, Structural Equation Model |
| JEL: | K32 O44 Q56 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:121285 |
| By: | Audi, Marc; Ali, Amjad |
| Abstract: | This research has examined the impact of business freedom on environmental degradation in developed and developing countries from 2000 to 2022. Panel least squares and generalized method of moments have been applied for empirical analysis. Our findings show that both business freedom and renewable energy consumption have a significant and detrimental influence on environmental degradation in both developed and developing nations. Furthermore, our findings highlight the significant influence of financial development on environmental degradation in both the whole sample and developing nations. Urbanization, on the other hand, has a significant impact on environmental degradation in both developed and developing nations. Interestingly, financial development has a negative and significant impact on environmental degradation in developed nations, while energy consumption has a notable positive and significant relationship with environmental degradation across the board. These findings suggest that the encouragement of entrepreneurial independence and the use of renewable energy sources might be helpful ways for mitigating environmental damage. Addressing the negative consequences of urbanization on the environment is also critical. The short-run dynamics give useful insight for developing tailored strategies to establish a sustainable balance between economic expansion and environmental preservation at the same time. |
| Keywords: | Business freedom, renewable energy consumption, environmental degradation, urbanization, energy consumption |
| JEL: | F41 Q30 Q56 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:121287 |
| By: | Sulehri, Fiaz Ahmad; Audi, Marc; Ali, Amjad |
| Abstract: | Controlling ecological deterioration is critical for the well-being of current and future generations, as it ensures a sustainable environment that promotes health, productivity, and the general quality of life. This study investigates the interplay between innovation, economic growth, and ecological impact across 18 countries, which collectively account for approximately 64% of global greenhouse gas emissions, using data from 2000 to 2022. Using the structural equation modeling approach, we investigate how the regulatory framework moderates and economic growth mediates these complex relationships. The empirical results reveal that innovation positively impacts economic growth, but this effect is statistically insignificant. Similarly, economic growth contributes significantly to environmental degradation. Moreover, the interaction between innovation and the regulatory framework leads to a decline in economic growth. Furthermore, innovation alone in a direct relationship, reduces ecological impact significantly but innovation and regulatory framework jointly increase ecological impact. Economic growth plays a significant role in mediating the relationship between the interaction term and ecological impact, but it does not significantly influence the relationship between innovation and ecological impact, according to empirical evidence. These insights are vital for policymakers to develop strategies that encourage sustainable growth and innovation. |
| Keywords: | Ecological Impact, Economic Growth, Innovation, Regulatory Framework |
| JEL: | C38 F64 O44 Q55 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:121288 |
| By: | OECD |
| Abstract: | Agendas on climate change mitigation and plastic pollution have largely developed independently. However, the two issues are closely linked. Most plastics are produced from fossil fuels. Jointly, the production, conversion and waste management of plastics generate greenhouse gas emissions. This paper reviews the interactions and synergies between climate change and plastics pollution. It subsequently reviews interactions between policies to reduce greenhouse gas emissions and plastic pollution. The findings from this work can help inform policy agendas and provide opportunities for countries to develop policies which exploit synergies. |
| Date: | 2023–05–01 |
| URL: | https://d.repec.org/n?u=RePEc:oec:envaac:45-en |
| By: | Zhiyuan Li (School of Economics, Fudan University); Bing Lu (School of Statistics, Beijing Normal University); Sili Zhou (Faculty of Business and Administration, University of Macau, and Asia-Pacific Academy of Economics and Management, University of Macau) |
| Abstract: | This paper documents that international trade can cause uneven distribution of production opportunities to countries in face of uncoordinated environmental policies. Specifically, we use exogenous introductions of national carbon policy to study how local firms react to such shocks, especially when they make sourcing decisions on carbon inputs. Results show that regulatory carbon taxes lead domestic firms to import more carbon products, such as cement, iron and steel, from foreign producers. Micro evidence further shows that firms will increase their trade shares to foreign suppliers located in pollution haven. Exploiting global supply chain information, we further find that domestic regulatory carbon taxes do benefit foreign carbon suppliers, helping them to, for example, increase fixed investment, expand production scales and improve financial performance. These findings highlight the importance to take into account international trade when forming environmental policies in order to fulfill the growth, welfare and emission reduction goals of such policies. |
| Keywords: | Green Trade, Carbon Taxes, Carbon Leakage, Production Reallocation, Global Supply Chain |
| JEL: | F18 F23 F64 H23 Q56 |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:boa:wpaper:202413 |
| By: | Heinz Welsch (Universiy of Oldenburg, Department of Economics) |
| Abstract: | The Paris Agreement on Climate Change requests signatory countries to specify voluntary caps on their greenhouse gas emissions. The caps stated by the end of 2021 imply percentage emission reductions that vary widely across countries. This paper uses globally representative data from the Global Climate Change Survey to study how countries’ emission reduction pledges are related to climate action preferences of their respective citizens. The study finds the following: (1) Nations’ percentage reduction pledges (PRPs) are not significantly related to citizens’ mean national willingness to contribute (WTC) to climate change mitigation. (2) WTC and PRPs are linked to key country characteristics in diametrically opposite ways. Specifically, (2a) WTC is positively related to average annual temperatures and negatively related to per-capita income and per-capita emissions, whereas (2b) PRPs are negatively related to average annual temperature and positively related to per-capita income and per-capita emissions. (3) Measures of divergence between PRPs and WTC are negatively related to citizens’ satisfaction with democracy. Assuming that temperatures, per-capita income, and per-capita emissions indicate sensitivity to climate change, adaptive capacity, and mitigation costs, respectively, finding (2a) is consistent with standard cost-benefit considerations. Assuming that per-capita emissions and per-capita income indicate “Differentiated Responsibilities and Respective Capabilities†, finding (2b) is consistent with ethical principles of equity and fairness. Considering right-wing populists’ using climate change as a political battleground, finding (3) suggests the possibility that ambitious mitigation targets may backfire by fuelling support for anti-climate populist parties – a political- economy tragedy of the commons. |
| Date: | 2024–07 |
| URL: | https://d.repec.org/n?u=RePEc:old:dpaper:445 |
| By: | Maru, Lucy; Makambi, Steve Anyona |
| Abstract: | One of the most important steps towards a greener economy is assessing the path through which climate risks are internalized in to bank portfolios. Aligned with literature on market risks and credit risks emanating from climate risk exposure, this paper sought to assess the feedback effect between banking sector performance and climate risk and identify the transmission pathway of climate risk to banking sector performance. The paper employed conditional process analysis. Using meteorological data, data on weather disasters, bank level data and interest rate between 2011- 2022, the study found that: - i) there exists a relationship between climate risk and bank performance to the extent that changes in interest rate spread are mediated by climate disasters having been moderated by temperature variation. ii) increase in non-performing loans leads to decrease in interest rate spread. Therefore, this paper persuades policy makers to adjust risks to include climate related risks and develop risk models that capture climate related risks in risk pricing. Additionally, the paper recommends that the regulator may develop an adaptable reporting framework to transition bank portfolios to a green and financially sustainable path. |
| Keywords: | Climate risk, Interest rate spread, non-performing loans, Carbon transition |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:kbawps:297994 |
| By: | Rim Berahab |
| Abstract: | Carbon pricing mechanisms are central to mitigating climate change. These mechanisms work by internalizing the costs associated with greenhouse gas emissions, thus encouraging emissions reductions and promoting technological progress in favor of sustainable alternatives. However, the implementation of carbon pricing mechanisms faces numerous complexities and challenges, especially in developing countries, given the potentially regressive impact of carbon pricing on low-income groups, and the general lack of socio- political support. This policy paper offers a comparative review of two market-based carbon pricing strategies—carbon taxes and emissions trading systems (ETS)—to shed light on their effectiveness, implementation, and capacity to generate revenue. It also argues that carbon pricing should be integrated into a comprehensive policy framework that addresses both national priorities and international equity considerations, in order to effectively address global climate change. The effectiveness of these policies depends largely on their design and adaptation to the specific political and economic contexts in which they are implemented. |
| Date: | 2024–05 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:rpaper:pp-07-24 |
| By: | Niftiyev, Ibrahim |
| Abstract: | This discussion paper examines the key themes and findings from four major events and three pieces of media content on sustainable development, climate finance and environmental policy. Direct observation and structured notes were used as the main methods. The analysis begins with the webinar “Bridge Building in Baku, ” which highlighted the need for improved quality and quantity of climate finance to support developing countries in their efforts to reduce carbon emissions. It then discusses the comparative perspectives on environmental issues between Azerbaijan and Türkiye, highlighting the need for renewable energy generation to offset environmental deficits. The paper also examines the event “COP29: Opportunities and Challenges for Climate Action, ” which focused on international cooperation and learning from global best practices to address environmental challenges. Finally, the discussion at the event “Green and Circular Economy in the Turkic World” emphasizes the importance of reducing resource dependency and improving energy efficiency in Turkish states. Policy suggestions include creating financial incentives for green technologies, improving public education on sustainability and promoting international cooperation to effectively address environmental challenges. This paper aims to map the intellectual landscape of climate finance and sustainable development and provides insights for policymakers and stakeholders involved in global climate action based primarily on COP29. |
| Keywords: | Azerbaijani economy, climate events, climate change, COP29, renewable energy, sustainable development |
| JEL: | Q20 Q28 Q54 Q57 Q58 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:esprep:298401 |
| By: | Sahar Amidi (Université d'Orléans); Rezgar Feizi (University of Luxembourg) |
| Abstract: | This paper investigates how various factors affect pollution levels in Europe’s manufacturing industry. The paper explores how productivity, expenditure share, trade cost, and environmental regulations affect pollution levels in Europe’s manufacturing industry. The World Input-Output Database provides data on global and local pollution for each industrial sector solely for the period ranging from 1995 to 2009. We use a general equilibrium model and quantitative trade model that considers pollution as a byproduct of production. The study aims to examine the effectiveness of regulations and control for the primary causes of environmental pollution (the main causes). Our empirical results reveal that air pollution emissions from EU manufacturing decreased by 33.21 percent despite an 85.44 percent increase in real manufacturing output. This outcome could provide evidence for the role of reducing the pollution contamination of manufacturing. The study finds that most of the decrease in emissions can be ascribed to changes in environmental regulations, rather than changes in expenditure share, trade cost, and productivity. Increasing environmental regulations by 20 percent can eliminate emissions intensity. After increasing environmental regulations by 20%, the emission of global pollutants such as methane decreased by 17.27% in 2009. |
| Keywords: | Environmental account and accounting, environmental taxes, general equilibrium model, productivity, quantitative model, technological innovation, trade cost |
| JEL: | Q |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:inf:wpaper:2024.10 |
| By: | Philip Kofi Adom (School of Economics and Finance, University of Witwatersrand, Johannesburg, South Africa) |
| Abstract: | This paper provides a discussion of future trends as established in the literature on the interaction between socioeconomic indicators and projected future climate change scenarios. It enhances our understanding of future predicted patterns of climate change effects in the coming decades and the need for climate-resilient interventions. There is a significant body of literature on climate impacts on GDP per capita and crop yield in developing countries. However, impacts on farmland value, water resources, and energy security have received much less attention. Across sectors, countries, and regions, the most vulnerable groups were found to be disproportionately affected, and the impact is predicted to be larger in the long term than in the medium term. There are feasible adaptation and mitigation options, but these need to be developed and designed to reflect local peculiarities or contexts. Generally, the review report indicates the need for urgent actions to be undertaken, especially in the most vulnerable countries, if we are to stand a chance of averting or minimizing the menace of climate change in the future. |
| Date: | 2024–02–15 |
| URL: | https://d.repec.org/n?u=RePEc:cgd:wpaper:681 |
| By: | Cavallo, Eduardo A.; Cepeda, Ana; Panizza, Ugo |
| Abstract: | This paper studies the interplay between environmental performance and financial valuation of firms in Latin America and the Caribbean. We provide insights into how environmental considerations are integrated into financial decision-making and investor behavior by analyzing the stock market reaction to environmental news of firms with different levels of carbon emission intensity. We find that high emission intensity firms tend to underperform after the release of environmental damage news. Our baseline estimates indicate that, after the release of such news, firms at the 75th percentile of the distribution of emission intensity experience stock returns that are 17% lower than those of firms at the 25th percentile of the distribution of emission intensity. These results suggest that investors care about and price carbon risk, but only when this risk is salient. |
| Keywords: | Carbon emissions;climate change;Environmental news;Stock returns |
| JEL: | G12 G14 G18 G32 G38 Q54 |
| Date: | 2024–05 |
| URL: | https://d.repec.org/n?u=RePEc:idb:brikps:13537 |
| By: | Srdelic, Leonarda |
| Abstract: | This paper applies an interdisciplinary approach that integrates climatology with economic and financial analysis to investigate in detail the effects of climate change on the economy and financial system of Croatia. Using geospatial analysis of data from the IPCC and Copernicus programs, regions within Croatia that are differently exposed to climate risks are identified, enabling a more precise assessment of economic and financial risks. Furthermore, the paper contributes to the theoretical understanding of the relationships between climate change and macroeconomic variables and develops an analytical framework for evaluating the long-term economic effects of climate change. The research findings provide an empirical basis for formulating adaptation and mitigation strategies for climate risks at the national level. |
| Keywords: | climate risks, economic activity, financial stability, Croatia |
| JEL: | G20 Q01 Q54 |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:121319 |
| By: | Stéphane Ondo Ze (UMR MoISA - Montpellier Interdisciplinary center on Sustainable Agri-food systems (Social and nutritional sciences) - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - IRD - Institut de Recherche pour le Développement - CIHEAM-IAMM - Centre International de Hautes Etudes Agronomiques Méditerranéennes - Institut Agronomique Méditerranéen de Montpellier - CIHEAM - Centre International de Hautes Études Agronomiques Méditerranéennes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); Mechthild Donner (UMR MoISA - Montpellier Interdisciplinary center on Sustainable Agri-food systems (Social and nutritional sciences) - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - IRD - Institut de Recherche pour le Développement - CIHEAM-IAMM - Centre International de Hautes Etudes Agronomiques Méditerranéennes - Institut Agronomique Méditerranéen de Montpellier - CIHEAM - Centre International de Hautes Études Agronomiques Méditerranéennes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); Sandrine Costa (UMR MoISA - Montpellier Interdisciplinary center on Sustainable Agri-food systems (Social and nutritional sciences) - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - IRD - Institut de Recherche pour le Développement - CIHEAM-IAMM - Centre International de Hautes Etudes Agronomiques Méditerranéennes - Institut Agronomique Méditerranéen de Montpellier - CIHEAM - Centre International de Hautes Études Agronomiques Méditerranéennes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); Zouhair Bouhsina (UMR MoISA - Montpellier Interdisciplinary center on Sustainable Agri-food systems (Social and nutritional sciences) - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - IRD - Institut de Recherche pour le Développement - CIHEAM-IAMM - Centre International de Hautes Etudes Agronomiques Méditerranéennes - Institut Agronomique Méditerranéen de Montpellier - CIHEAM - Centre International de Hautes Études Agronomiques Méditerranéennes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement) |
| Abstract: | Contexte The circular bioeconomy presents an opportunity to transform our relationship with resources and create a more sustainable future. Rural circular bioclusters play a crucial role in this transition by bringing together local actors to valorise waste and promote sustainable practices. Understanding the factors that influence their success is essential for ensuring their long-term viability and impact. •A biocluster is a type of sustainability-oriented cluster, with a geographically close group of interconnected companies and associated organisations in the field of the bioeconomy (Ayrapetyan and Hermans, 2020). •The viability of an emerging regional biocluster is its ability to maintain, innovate, co-create and share value while respecting the environmental limits and taking into account the social issues of the area in which it is located. Methodology To gain insights into the factors influencing rural circular bioclusters, we employed a mixed-methods approach. We first conducted a comprehensive literature review to establish a theoretical framework. Then, we carried out semi-directive interviews with key actors involved in bioclusters in the Occitanie region. These interviews allowed us to gather in-depth information about the experiences, challenges, and opportunities faced by these initiatives. Results Our analysis revealed that the success of rural circular bioclusters is influenced by a complex interplay of factors. These factors can be categorized as either levers or barriers, depending on their impact on the biocluster's development. Levers, such as strong leadership, clear common rules, and access to funding, can facilitate biocluster growth and success. On the other hand, barriers, such as excessive control, rigid rules, and dependence on external funding, can hinder biocluster development and sustainability. Discussion and Conclusion In conclusion, understanding the factors that influence rural circular bioclusters is essential for their sustainable development and long-term impact. By identifying and addressing the barriers, stakeholders can create an enabling environment for bioclusters to flourish. Bioclusters, in turn, can contribute to regional economic growth, environmental protection, and social well-being, fostering a more sustainable future for rural communities. To address these challenges, we developed the Emerging Rural Circular Bioclusters Viability Canvas. This multi-criteria tool empowers regional leaders to assess their initiatives through a comprehensive business model evaluation. |
| Keywords: | Biocluster, Business model |
| Date: | 2024–06–11 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04626926 |
| By: | Thierry Blayac (CEE-M - Centre d'Economie de l'Environnement - Montpellier - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier); Pierre Courtois (CEE-M - Centre d'Economie de l'Environnement - Montpellier - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier); Lucille Sevaux (CEE-M - Centre d'Economie de l'Environnement - Montpellier - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier); Hélène Rey-Valette (CEE-M - Centre d'Economie de l'Environnement - Montpellier - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier); Anais Page (CEE-M - Centre d'Economie de l'Environnement - Montpellier - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier); Nicole Lautrédou-Audouy (CEE-M - Centre d'Economie de l'Environnement - Montpellier - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier); Jean-Michel Salles (CEE-M - Centre d'Economie de l'Environnement - Montpellier - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier); Frédérique Viard (UMR ISEM - Institut des Sciences de l'Evolution de Montpellier - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EPHE - École Pratique des Hautes Études - PSL - Université Paris Sciences et Lettres - Institut de recherche pour le développement [IRD] : UR226 - CNRS - Centre National de la Recherche Scientifique - UM - Université de Montpellier) |
| Abstract: | Marinas have a major ecological footprint, not only because of the pollution they generate but also because of the introduction and spread of non-indigenous species (NIS). This invites us to reconsider both the practices and infrastructures of marinas but also their uses and users, as marinas are increasingly recognized as places of well-being. The twofold objective of this article is to analyze the public's perception of environmental and ecological degradation in marinas and to assess the willingness to pay to improve their environmental quality. We conducted a field survey among residents and boaters of four marinas in France and showed that both have a relatively low knowledge of NIS, as well as of the responsibility of the boating activity for their spread. Other environmental degradations, such as the pollution generated by boats, are better identified and many agree on the positive economic impact of marinas. We showed a high willingness to pay to improve the environmental quality of marinas and on this basis make recommendations on how to encourage support for reducing environmental degradation. In particular, we discuss the appropriation of marinas by a wider population, including residents, young people and women. The challenge is for marinas to become multifunctional spaces, with the extension of their uses to a wider range of users going hand in hand with an improvement in their environmental quality. |
| Keywords: | Contingent valuation, Public and user survey, Ecological impacts, Marine invasive species, Boaters Coastal environments, Ports |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04596361 |
| By: | Hohendanner, Christian (Institute for Employment Research (IAB), Nuremberg, Germany); Janser, Markus (Institute for Employment Research (IAB), Nuremberg, Germany); Lehmer, Florian (Institute for Employment Research (IAB), Nuremberg, Germany) |
| Abstract: | "Efforts to mitigate climate change and promote environmental sustainability have far-reaching implications for businesses and their employees. These efforts require firms to adapt their business models and processes to meet the demands of a greener economy. At the same time, firms are facing an increasing shortage of skilled labour. It has become particularly challenging for companies to find employees with the necessary environmentally and climate-friendly skills. In order to trace the importance and development of green skills in companies in recent years, we aggregate the Greenness of Jobs Indicator (GOJI) generated at the occupational level to the establishment level. This allows us to analyse how the proportion of establishments and their employees with significant shares of green, brown and white skills has developed in recent years since 2012. The results show that establishments with green skills are tending to gain in importance in quantitative terms. The analysis suggests that establishments with green skills may be somewhat better positioned to compete for labour, although there is no evidence of climate quitting, i.e. employees leaving brown establishments in favour of green establishments. However, the data shows that women are more frequently represented in establishments with green skills than in those with brown skills. This could indicate that establishments with green skills are more attractive to women. Overall, the study shows that the ecological transformation brings both challenges and opportunities for companies. While labour shortages are a problem, companies with green skills may be better positioned to meet these challenges and benefit from the opportunities that arise." (Author's abstract, IAB-Doku) ((en)) |
| Keywords: | IAB-Open-Access-Publikation ; IAB-Betriebspanel |
| Date: | 2024–06–18 |
| URL: | https://d.repec.org/n?u=RePEc:iab:iabfob:202413 |
| By: | International Monetary Fund |
| Abstract: | Dutch financial institutions are exposed to the effects of climate change through both physical and transition risks. Physical risks are mostly represented by flood risk while transition risks are primarily driven by the structure of the Dutch economy, including a significant exposure to agriculture. The Dutch authorities have made significant efforts to respond to climate related risks comprehensively through identification of risk drivers and analysis of their impacts, accompanied by strong policy initiatives aimed for mitigation and adaptation. |
| Date: | 2024–06–18 |
| URL: | https://d.repec.org/n?u=RePEc:imf:imfscr:2024/172 |
| By: | Sugandha Srivastav; Michael Zaehringer |
| Abstract: | The combustion of coal, the most polluting form of energy, must be significantly curtailed to limit global average temperature increase to well below 2 degrees C. The effectiveness of carbon pricing is frequently undermined by sub-optimally low prices and rigid market structures. Consequently, alternative approaches such as compensation for the early closure of coal-fired power plants are being considered. While bilateral negotiations can lead to excessive compensation due to asymmetric information, a competitive auction can discover the true cost of closure and help allocate funds more efficiently and transparently. Since Germany is the only country till date to have implemented a coal phaseout auction, we use it to analyse the merits and demerits of the policy, drawing comparisons with other countries that have phased out coal through other means. The German experience with coal phaseout auctions illustrates the necessity of considering additionality and interaction with existing climate policies, managing dynamic incentives, and evaluating impacts on security of supply. While theoretically auctions have attractive properties, in practice, their design must address these concerns to unlock the full benefits. Where auctions are not appropriate due to a concentration in coal plant ownership, alternative strategies include enhanced incentives for scrappage and repurposing of coal assets. |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2406.14238 |
| By: | Fatica, Serena (European Commission); Grammatikopoulou, Ionna (European Commission); Hirschbuehl, Dominik (European Commission); La Notte, Alessandra (European Commission); Pisani, Domenico (European Commission) |
| Abstract: | Nature-related financial risks have emerged as critical concerns for policymakers and financial actors. Central to this issue are ecosystem services, which play an integral role in various production processes but may be interrupted due to nature degradation. This article delves into the vulnerability of European SMEs by combining firm-level exposures to ecosystem service dependencies with regional information on the relative abundance of ecosystem services provisioning and the risk of natural hazards. Focusing on long-term debt positions to gauge financial stability implications, the results reveal moderate nature risks for European SMEs at the current stance but also highlight a possible concentration of risks and a need to further refine the use of available indicators. |
| Keywords: | ecosystem services, natural capital, nature degradation, physical risks, environmental risks, ENCORE, risk management, SMEs |
| JEL: | G21 G38 Q5 |
| Date: | 2024–03 |
| URL: | https://d.repec.org/n?u=RePEc:jrs:wpaper:202403 |
| By: | Ofori, Isaac K.; Gbolonyo, Emmanuel Y.; Ojong, Nathanael |
| Abstract: | Tracking the progress of countries in inclusive green growth (IGG) is crucial for shaping effective sustainable development policies. However, comprehensive IGG data is often inaccessible. Accordingly, rigorous empirical contributions in this direction in the context of Africa remain sparse. To address this, we computed IGG scores for 22 African countries from 2000-2020. Our data reveal that only nine of these countries are achieving green and inclusive growth. This dataset equips researchers and institutions to assess IGG progress and identify pathways that African governments can leverage to promote sustainable development. |
| Keywords: | Africa, Inclusive green growth, IGG, Sustainable Development |
| JEL: | O55 Q01 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:esrepo:298863 |
| By: | Kaur, S.; Pollitt, M. G. |
| Abstract: | Diesel and electric pumps have dominated groundwater irrigation in Punjab since the advent of intensive agriculture in 1966. National policies offer a range of subsidies for solar pumps, but there is limited empirical evidence of their effectiveness in promoting adoption. To address this need, a discrete choice method is applied to estimate the level of financial incentives for solar pumps preferred by farmers. The results show that enhanced subsidies combined with energy buyback have a significant impact on adoption decisions. The impact of contextual factors on the acceptance of grid-connected solar pumps is also estimated. Additionally, willingness to pay estimates and economic evaluations are improved with the use of flexible mixed logit formulation. The findings confirm that low subsidy limits the diffusion of solar pumps in Punjab agriculture. Further, the results from the statistical models indicate high public acceptance of individual solar agriculture pumps. We suggest that solar subsidies combined with grid purchases of surplus solar electricity can both reduce emissions and reduce the over-use of ground water, by indirectly introducing a price of electricity for water pumping. |
| Keywords: | Renewable energy, solar pumps, feeder level solarization, energy water nexus, energy subsidies, irrigation water, electricity, groundwater depletion, Punjab |
| JEL: | Q1 Q20 Q25 Q42 Q58 O13 O38 P48 |
| Date: | 2024–06–18 |
| URL: | https://d.repec.org/n?u=RePEc:cam:camdae:2435 |
| By: | Murray Leclair, Emmanuel |
| Abstract: | The economic cost of carbon pricing depends on the ability and incentives of firms to switch towards cleaner fuels. Yet, many fundamental economic forces that drive firms' decisions to use different fuels are unobserved, causing significant uncertainty over the effectiveness of carbon policies. In this paper, I propose a new dynamic production model with multidimensional unobserved heterogeneity that underly technology differences and captures how firms' fuel choices respond to price changes. These differences cause heterogeneity in abatement costs, which generates heterogeneous responses to carbon pricing. Leveraging minimal assumptions about optimal input choice and the technology frontier, I quantify the model from a detailed panel of Indian steel establishments. Based on these estimates, implementing a carbon tax equivalent to 2, 000 INR/ton (25 USD/ton) of carbon dioxide equivalent leads to a 70% reduction in emissions. But only 18% of this reduction comes from fuel-switching within existing firms. I find that the larger reductions come from reallocation of output across firms (58%) and costly reduction in aggregate output (24%). Substantial heterogeneity in the fuel efficiency of existing furnaces coupled with the limited geographical reach of natural gas pipelines towards high-emission firms explains the prevalence of output reallocation relative to fuel switching. |
| Keywords: | Firm dynamics, input choice, fuel efficiency, production function, climate change |
| JEL: | H23 L11 L61 Q41 Q52 |
| Date: | 2024–04–15 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:121139 |
| By: | Hayatullah Ahmadzai; Oliver Morrissey |
| Abstract: | The increasing impact of natural disasters (floods, earthquakes, landslides, and avalanches) in Afghanistan, notably flooding and similar climate shocks, poses a growing concern as vulnerability to climate change intensifies the potential severity of these impacts in future. This paper uses two household surveys (2011/12 and 2013/14) combined with other data to assess the effects of climate shocks (especially floods) on the welfare of agricultural households, allowing also for conflict and price shocks. We evaluate the impacts of shocks on several measures of food security, dietary diversity, household food consumption spending, farm revenue and income comparing affected to non-affected households. The analysis is based on endogenous switching regressions (ESR) and propensity score matching (PSM) allowing for selection bias and addressing endogeneity. Floods are the main shock and have significant adverse effects on food security and welfare indicators. For example, the estimated average treatment effect in 2013-14 implies a decrease of about a third in food consumption expenditures, with similar reductions in household income and farm revenue. The findings highlight the need for better disaster risk reduction and planing strategies to support affected populations to respond to and recover from climate shocks.disaster risk management, conflict, Afghanistan |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:not:notcre:24/04 |
| By: | Anthony Mann; Young Chang |
| Abstract: | The global challenge of the green transition, aimed at achieving net-zero emissions, is expected to reshape the labour market significantly, impacting industries, consumption patterns, and energy provision worldwide. This shift is likely to create new jobs while rendering many existing ones obsolete, presenting both economic and redistributive consequences. There is increasing concern about the lack of skilled workers hindering this transition, particularly affecting young people entering the job market. Governments are increasingly acknowledging these challenges and enhancing efforts to prepare for labour market transformations within environmental policies. Education plays a crucial role in preparing students for future careers, not only through academic training but also by fostering the necessary knowledge, skills, attitudes, and values to meet upcoming challenges. However, there is a gap in how well schools are preparing students for careers in building sustainable societies, particularly in signalling green job opportunities. To address this gap, career guidance systems are essential, serving as bridges between students' interests and labour market demands. This scoping study examined 87 guidance programmes within primary and secondary education across 20 OECD countries, aimed at enhancing students' understanding of and progression towards green careers. While the programmes represent only a portion of initiatives in this field, they provide valuable insights into the conceptualisation and implementation of green guidance programmes, which are expected to become increasingly important in the future. |
| Date: | 2024–07–05 |
| URL: | https://d.repec.org/n?u=RePEc:oec:eduaab:318-en |
| By: | Adrian Odenweller; Falko Ueckerdt |
| Abstract: | Green hydrogen is critical for decarbonising hard-to-electrify sectors, but faces high costs and investment risks. Here we define and quantify the green hydrogen ambition and implementation gap, showing that meeting hydrogen expectations will remain challenging despite surging announcements of projects and subsidies. Tracking 137 projects over three years, we identify a wide 2022 implementation gap with only 2% of global capacity announcements finished on schedule. In contrast, the 2030 ambition gap towards 1.5{\deg}C scenarios is gradually closing as the announced project pipeline has nearly tripled to 441 GW within three years. However, we estimate that, without carbon pricing, realising all these projects would require global subsidies of \$1.6 trillion (\$1.2 - 2.6 trillion range), far exceeding announced subsidies. Given past and future implementation gaps, policymakers must prepare for prolonged green hydrogen scarcity. Policy support needs to secure hydrogen investments, but should focus on applications where hydrogen is indispensable. |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2406.07210 |
| By: | Noah, Abdurafiu Olaiya; Adhikari, Pawan; Liew, Pik Kun |
| Abstract: | Drawing on Oliver’s typology of strategic responses (1991), this study demonstrates the strategic pressures that vulnerable local communities in Nigeria have exerted on cement companies and the multiple strategies that these companies have devised to discharge their environmental and social accountability (ESA). The data for this study were obtained through semi-structured interviews and document analysis. By exploring the role of local communities in Nigeria, our findings highlight the changing context of ESA in emerging economies in which local communities, often referred to as weak and passive stakeholders, have forced multinational companies to respond to their commitment to ESA. However, the extent to which local communities’ voices can alter companies’ profit maximisation that compromises people’s welfare and the environment has caused concern. The power and influence wielded by companies, which has enabled them to devise a multitude of strategic responses, has subtly dominated local voices and actions, confining ESA practices largely to the content of their annual statements. This raises concerns about current mechanisms for discharging ESA to promote sustainable development and attain sustainable development goals (SDGs) in emerging economies. In investigating the aforementioned, the paper also addresses the call made by prior work delineating the nexus between corporations and local communities in shaping ESA in the unique contexts of emerging economies. |
| Keywords: | Emerging economies; environmental and social accountability; local community; Nigeria; strategic responses |
| JEL: | L81 N0 |
| Date: | 2024–05–30 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:123831 |
| By: | Gomez-Gonzalez, Jose E.; Uribe, Jorge M.; Valencia, Oscar |
| Abstract: | Climate change adaptation efforts are heavily dependent on a countrys fiscal capacity and the associated costs of undertaking adaptation policies. The current accumulation of high debt levels in emerging and low-income developing countries, which are disproportionately affected by climate change, raises significant concerns. This study shows that sovereign risk, and hence funding costs for governments, exhibits significantly asymmetric reactions to its determinants across the conditional distribution of credit spreads. This aspect, previously overlooked in the literature, has relevant policy implications. Countries with elevated risk levels are disproportionately vulnerable to climate change compared to their lower-risk counterparts, especially in the short term. Notably, investing in climate change preparedness proves effective in mitigating vulnerability to climate change, in terms of sovereign risk, particularly for countries with low spreads and long-term debt (advanced economies), where readiness and vulnerability tend to counterbalance each other. However, for countries with high spreads and short-term debt, additional measures are essential as climate change readiness alone is insufficient to offset vulnerability effects in this case. Results also demonstrate that the actual occurrence of natural disasters is less influential than vulnerability to climate change in determining spreads. |
| Keywords: | Credit Risk;disaster risk;nonlinear dynamics;panel-quantile regressions;preparedness;sovereign risk;vulnerability |
| JEL: | F34 G15 H63 Q51 Q54 |
| Date: | 2024–03 |
| URL: | https://d.repec.org/n?u=RePEc:idb:brikps:13447 |
| By: | Baridhi Malakar |
| Abstract: | The dissertation consists of three essays on responsible and sustainable finance. I show that local communities should be seen as stakeholders to decisions made by corporations. In the first essay, I examine whether the imposition of fiduciary duty on municipal advisors affects bond yields and advising fees. Using a difference-in-differences analysis, I show that bond yields reduce by 9\% after the imposition of the SEC Municipal Advisor Rule. In the second essay, we analyze the impact of USD 40 billion of corporate subsidies given by U.S. local governments on their borrowing costs. We find that winning counties experience a 15 bps increase in bond yield spread as compared to the losing counties. In the third essay, we provide new evidence that the bankruptcy filing of a locally-headquartered and publicly-listed manufacturing firm imposes externalities on the local governments. Compared to matched counties with similar economic trends, municipal bond yields for affected counties increase by 10 bps within a year of the firm filing for bankruptcy. The final essay examines whether managers walk the talk on the environmental and social discussion. We train a deep-learning model on various corporate sustainability frameworks to construct a comprehensive Environmental and Social (E and S) dictionary. Using this dictionary, we find that the discussion of environmental topics in the earnings conference calls of U.S. public firms is associated with higher pollution abatement and more future green patents. |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2406.12995 |
| By: | Costella, Cecilia Valentina; Shabahat, Elham Shirin; Sadiq, Nian; Okamura, Yuko |
| Abstract: | This paper reviews the current and potential roles of social protection and jobs (SPJ) policies and mechanisms in supporting address the challenges related to climate change. Given its central role in reducing poverty and vulnerability and in helping people cope with various shocks, SPJ can play a greater instrumental role in both adaptation and mitigation efforts, managing the impacts of climate change as well as the impacts of decarbonization. However, at present, its potential remains underrecognized and SPJ policies and programming seldom integrate climate consideration in a deliberate and strategic manner. To realize this untapped opportunity, this note aims to concisely present SPJ’s role in the climate agenda. It first presents an overview of the potential ways in which SPJ policies and programs can strategically support climate goals, while explaining key issues and concepts. It then reviews existing evidence for and examples of current practice on SPJ and climate change and highlights policy and operational considerations, including key takeaways that SPJ practitioners can use to drive the climate and SPJ agenda forward. |
| Date: | 2024–05–31 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:hdnspu:191318 |
| By: | Ha Trong Nguyen; Mitrou, Francis |
| Abstract: | The catastrophic consequences of natural disasters on social and economic systems are extensively documented, yet their influence on individuals' sense of control over their life outcomes remains unexplored. This study pioneers an investigation into the causal effects of natural disaster-related home damage on the locus of control. Utilizing Australian longitudinal data, we implement an individual fixed effects instrumental variables approach leveraging time-varying, exogenous exposure to local natural disasters to address confounding factors. Our findings provide compelling evidence: natural disaster-induced home damage significantly diminishes individuals' perception of control, especially for those at the lower end of the locus of control distribution. The effect is disproportionately heightened for women, older individuals, wealthier households, those without prior insurance, urban or inland residents, and those in historically cyclone-free regions. This newfound understanding offers opportunities for developing targeted interventions and support mechanisms tailored to address the specific needs and vulnerabilities of individuals following natural disasters. |
| Keywords: | Natural Disasters, Locus of Control, Housing, Australia |
| JEL: | I31 R20 Q54 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:glodps:1448 |
| By: | Kitano, Shinichi; Horie, Ryosuke; Yamamoto, Naotoshi |
| Abstract: | With the surge in global demand for seafood, although efforts are being made to guide fisheries and farmed aquaculture, which still rely on natural resources, toward sustainability, it is pertinent to guide people toward sustainable consumption patterns. We consider bluefin tuna, whose largest consumer is Japan and whose stock levels were at risk in the early 2010s, and examine whether consumers can be impelled to consume fish produced in a resource-conserving manner if they have adequate information on stock status and fishing methods. We explore the potential of fixed shore net fisheries and full-cycle aquaculture techniques, which have received limited attention in previous studies. Furthermore, we analyzed the effectiveness of ecolabels indicating that, in the case of natural products, no juvenile fish were caught, and in the case of farmed fish, no juveniles were used as seedlings or artificial seedlings were used. We conducted randomized controlled trial to analyze how information provision changes the marginal willingness to pay for fish commodity attributes. The analysis reveals that the information provision significantly and positively affects payments for bluefin tuna produced by resource-conserving fixed shore net fisheries and full-cycle aquaculture. Moreover, it significantly increases the premium for ecolabeling, suggesting the need to provide consumers with knowledge on resource status and fishing methods. However, as the effects of information provision are heterogeneous, new approaches such as consumer segmentation at the retail level are required to implement these efforts in society. |
| Date: | 2024–07–04 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:89zgr |
| By: | OECD |
| Abstract: | As plastic use becomes more pervasive, the environmental repercussions of plastic pollution are expected to become increasingly unsustainable. The global community is far from achieving its long-term objective of ending plastic pollution unless countries implement significantly more stringent and coordinated policies. This paper addresses the costs associated with different policies aimed at ending plastic pollution, as well as paying particular attention to how the development cooperation and finance can support countries that have less financial resources to live up to the challenge of ending plastic pollution. |
| Date: | 2023–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:oec:envaac:44-en |
| By: | Demekas, Dimitri G.; Grippa, Pierpaolo |
| Abstract: | In ‘Embracing the Brave New World: A Response to Demekas and Grippa’, a response to our article ‘Walking a Tightrope: Financial Regulation, Climate Change, and the Transition to a Low-Carbon Economy’, both published in the Journal of Financial Regulation, Gruenewald, Knijp, Schoenmaker, and van Tilburg claim that climate risk is a clear and present danger to financial stability that justifies imposing higher capital requirements on supervised firms. Until the current prudential risk framework is revised to fully capture climate risk, they advocate ad hoc measures, such as adjustments to risk weights, which, they believe, would have the desired effect. In this article, we argue that these claims are misguided. Given the nature of climate risk, risk assessment models cannot provide a reliable basis for calibrating capital requirements. On the basis of the evidence, prudential tools would have only a negligible impact on the transition. And the idea of adjusting risk weights for climate exposures has been abandoned—for good reasons. Ultimately, there is nothing financial regulation can do about the energy transition that an appropriately designed carbon tax cannot do better. Central banks and financial regulators should resist the pressure to take on additional responsibilities that are essentially political and that they cannot properly discharge. |
| Keywords: | financial stability; financial regulation; climate change; central banking; OUP deal |
| JEL: | F3 G3 |
| Date: | 2024–06–11 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:123012 |
| By: | Nkechi S. Owoo (University of Ghana; World Bank Development Economics Research Group; Center for Global Development) |
| Abstract: | The research paper adopts a mixed methods approach to understanding climate shock and consequences in the Ghanaian context. The nationally representative Ghana Living Standards Household Survey (GLSS) is merged with district-level geocoded information on climate events to quantitatively explore associations between climate shocks and farm inputs demand. Results show commercial purchases of inputs as a potential coping strategy among agricultural households. The remainder of the paper uses qualitative methods to better understand other adaptation strategies. Interviews with women shine more light on their housework adjustments and implications for leisure. Adaptation is, however, not a universal response to climate change and disaster events. Despite observed mental health associations, the paper highlights the role of religion in passive dispositions when it is believed that disaster events are divine and do not merit an adaptation response. The study improves understanding of individuals’ adaptation, and non-adaptation, responses to climate shocks in Ghana. |
| Keywords: | climate change fatalism, farm input demand, gender roles, mental health, mixed methods, Ghana |
| JEL: | Q12 Q54 I15 J16 |
| Date: | 2024–04–15 |
| URL: | https://d.repec.org/n?u=RePEc:cgd:wpaper:692 |
| By: | Kaur, S.; Pollitt, M. G. |
| Abstract: | Stabilization of prices has been an important element of achieving food price stability in most countries — both developing and developed, including India. In this paper, we rethink the ex-tension of the price stabilization as a compensation strategy to stimulate change in favour of low-water crops in Punjab. Groundwater facilitated impressive agricultural production, particularly record increases in wheat and rice productivity in Punjab, but also accelerated depletion of aquifers. Free electricity and negligible pumping costs aggravated the problem and the resultant policy failure encouraged unregulated use of groundwater, lower relative profitability of water efficient crops and a shift in favour of water intensive crops. Questions are now being raised about the sustainability of this intensive agriculture strategy. The rapidly depleting water table level and soil deterioration from overuse of fertilizers and pesticides are attributed to farmers’ preference for high-water rice variety. Drawing from the Payment for Ecosystem Services scheme, this stated preference experiment investigates farmers’ preferences to change high-water rice variety by low-water variety with compensatory payments. Results show that majority of farmers are willing to accept compensation for substitution by low-water intensive rice variety. In addition, the scheme can be accompanied by significant willingness to pay for electricity, but the WTP is contingent upon the nature of electricity charge. |
| Keywords: | Agriculture, energy water nexus, electricity, discrete choice, Punjab, India |
| JEL: | O13 Q1 Q4 Q5 Q12 Q24 Q25 Q28 Q48 Q57 |
| Date: | 2024–06–18 |
| URL: | https://d.repec.org/n?u=RePEc:cam:camdae:2433 |
| By: | Charles M. Kahn; Ahyan Panjwani; João A. C. Santos |
| Abstract: | In this paper, we introduce a model to study the interaction between insurance and banking. We build on the Federal Crop Insurance Act of 1980, which significantly expanded and restructured the decades-old federal crop insurance program and adverse weather shocks – over-exposure of crops to heat and acute weather events – to investigate some insights from our model. Banks increased lending to the agricultural sector in counties with higher insurance coverage after 1980, even when affected by adverse weather shocks. Further, while they increased risky lending, they were sufficiently compensated by insurance such that their overall risk did not increase meaningfully. We discuss the implications of our results in the light of potential changes to insurance availability as a consequence of global warming. |
| Keywords: | climate risks; insurance; bank lending; financial stability |
| JEL: | Q54 G22 G21 G28 |
| Date: | 2024–05–01 |
| URL: | https://d.repec.org/n?u=RePEc:fip:fednsr:98387 |
| By: | Webster, Richard J; Harrison, Mary-Ann; Zitikyte, Gabriele |
| Abstract: | Decision makers around the world are announcing climate targets, but often assume that future technologies will make their decarbonisation promises of today achievable tomorrow. Concerningly, the IPCC states that current technologies are insufficient to address the climate crises. Digital tools (e.g., software, phone apps, dashboards) provide an interesting microcosm to investigate the pace of emerging technologies, as they are rapidly developed, easily scaled, and leverage analytics; yet little is known about digital tools for climate action. This scoping review aims to i) identify digital tools for climate mitigation, ii) assess their pace of innovation, and iii) perform a gap analysis. We identified 352 digital tools for climate mitigation. This repository of tools has particular value as 72% of these digital tools were found to be open source. A novel statistical analysis was used to determine the pace of innovation and assess the maturity of climate mitigation digital technologies. Encouragingly, digital tools for climate mitigation are emerging at an annual rate of 19% (95% CI: 16- 22%), with open-source solutions driving this exponential growth. This snowballing growth of climate mitigation digital innovations might yield disruptive solutions for emissions savings and is optimistic news for tackling the climate crisis. |
| Date: | 2024–06–06 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:92sp3 |
| By: | Rahman Md. Mostafizur; Khatun Mst. Asma; Moinul Islam; Tatsuyoshi Saijo; Koji Kotani |
| Keywords: | Sustainable food consumption, Organic vegetables, Future design, Deliberation, Social experiment |
| Date: | 2024–07 |
| URL: | https://d.repec.org/n?u=RePEc:kch:wpaper:sdes-2024-4 |
| By: | Jinapor, John Abdulai; Abor, Joshua Yindenaba; Graham, Michael |
| Abstract: | This paper examines the potential impact of energy consumption and foreign direct investment (FDI) on inclusive growth in 32 Sub-Saharan Africa (SSA) countries from 2000 to 2019. The results from the 2-stage system generalised method of moment (GMM), reveal that energy consumption induces inclusive growth. The results also show a substantial impact of non-renewable energy, relative to renewable energy, on inclusive growth. Additionally, the results further reveal that FDI has a non-linear relationship with inclusive growth, where FDI dampens inclusive growth to a certain point and begins to induce it after that point. Moreover, FDI effectively forms synergies with energy consumption towards promoting inclusive growth in SSA. The interactive term results revealed that FDI forms synergies with both renewable and non-renewable energy to promote inclusive growth in SSA. We recommend that African leaders focus on attracting FDIs towards financing their energy needs, particularly in the area of low-carbon or renewable energy sources, by leveraging private sector capital investments to achieve inclusive growth whilst attaining sustainable development. |
| Keywords: | SSA; Renewable Energy Consumption; Non-Renewable Energy Consumption; FDI; Inclusive Growth |
| JEL: | F20 O20 Q4 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:121143 |
| By: | Khezri, Mohsen; Karimi, Mohammad Sharif; Naysary, Babak |
| Abstract: | Many countries emphasize entrepreneurship promotion as a policy focus. However, empirical research has often neglected the complex environmental consequences associated with such initiatives. In this study, we analyzed data using a panel model from 14 countries, covering the years 2002 to 2018. Our goal was to thoroughly assess the impact of eleven distinct entrepreneurship indicators on CO2 emissions. Our findings indicate that some control variables, like trade liberalization, are fundamental in reducing emissions. This contrasts with traditional views, which typically revolve around a consistent Kuznets curve that depicts the environmental effects of economic growth. Instead, our research uncovers a dynamic pattern transitioning from a concave upward trajectory to an inverted U-shaped curve, primarily due to increased levels of entrepreneurship. Remarkably, various entrepreneurial indicators, such as government support and policies, taxes and bureaucracy, governmental programs, and cultural and social norms, demonstrate direct positive impacts on CO2 emissions. Conversely, other indicators show a mix of positive and negative effects. Furthermore, examining the spill-over effects of entrepreneurship indicators, particularly in their role in energy use intensity and GDP per capita, reveals significant implications for improving energy consumption efficiency. However, it is important to acknowledge that despite the potential for enhanced efficiency, the negative effects resulting from an increased scale of output may not be completely counteracted. |
| Keywords: | CO2 emission; economic development; entrepreneurship; Kuznets curve |
| JEL: | R14 J01 |
| Date: | 2024–05–30 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:123865 |
| By: | Rodríguez-López, Abelardo (Abelardo Rodriguez Associates); de los Rios Ibarra, Emilio |
| Abstract: | The industrial livestock and agriculture production in the Merida Metropolitan area, Yucatan Mexico, relies on groundwater in a karstic environment, leading to water pollution due to a weak regulatory scheme. The study aims to assess whether most groundwater users are aware of the tradeoff between short-term economic gains and the sustainability of the aquifer, as well as to determine the necessary incentives for regulating groundwater use by major polluters to ensure sustainability. Official municipal secondary data on swine and poultry production is analyzed to estimate nitrogen excreta following ASAE guidelines. Concessions for groundwater extraction and permits to release wastewater into the aquifer at the municipal level are assessed concerning the amount of nitrogen excreted. We have found that the nitrogen excreted is too high to be absorbed by the limited agricultural land, and it would require a circular economy to dispose of the excess nitrogen. However, this evidence and possible alternatives are not easily accepted by those involved in the pollution process that has been identified for the past 25 years. |
| Date: | 2024–06–03 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:d2xsk |
| By: | Shi, Xiangyu; Gong, Jiaowei; Zhang, Xin; Wang, Chang |
| Abstract: | In this paper, we document a novel fact that disclosures of public information reshape social dynamics in China. Using the staggered roll-out of a quasi-natural experiment of air pollution information disclosure and a novel high-frequency data set of social and public events, we find socioeconomic cooperation and protests both significantly decrease after disclosure. The negative effects are larger when the disclosed pollution level is higher and when residents have higher environmental awareness and lower trust in local governments. Our results are rationalized in a theoretical model and suggest that information disclosure involves a tradeoff between economic efficiency and political stability and leads to a dilemma for policymakers. |
| Keywords: | Air pollution; Information; Social dynamics; Public events; Socioeconomic cooperation; Protests; China |
| JEL: | D7 D9 O1 Q5 |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:121357 |
| By: | Habla, Wolfgang; Kokash, Kumai; Löfgren, Åsa; Straubinger, Anna; Ziegler, Andreas |
| Abstract: | Based on data from broadly representative surveys among more than 1, 400 citizens in Germany and Sweden, this paper empirically examines the support of different groups of climate-related (passenger) transport policy measures targeting vehicle use, public transport, air travel, and bicycle use. Our descriptive analysis reveals that pull policy measures (e.g. the financial support of public transport) are more strongly supported in both countries than push policy measures (e.g. the increase in taxes on flight tickets). Furthermore, bans (i.e. a sales ban on new gasoline- and diesel-powered vehicles and a ban on domestic flights) do not receive much support. Our econometric analysis with multivariate ordered and binary probit models points to the strong relevance of economic self-interest for the support of vehicle-, air travel-, and bicycle-related policy measures, i.e. citizens who are negatively affected by a certain measure are significantly more likely to disagree with it, while citizens who benefit from a certain measure are significantly more likely to support it. For example, owners of vehicles that run exclusively on conventional fuels are significantly less likely to agree with the introduction of road user charges on highways and especially the sales ban on new gasoline- and diesel-powered vehicles. Our econometric analysis also shows that environmental awareness and political identification play an important role for the agreement with most of the policy measures considered. Finally, we discuss our empirical results in the context of current policy debates in Germany and Sweden and some implications for policymakers. |
| Keywords: | Climate change, transport policy measures, individual support, multivariate probit models, simulated maximum likelihood estimation |
| JEL: | Q54 R48 L98 Q48 Q58 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:zewdip:300007 |
| By: | Nabil Daher (Université Paris Nanterre, EconomiX) |
| Abstract: | Over the past three decades, natural disasters have become increasingly frequent and intense, posing significant risks to economic activity, particularly in developing countries. This paper investigates the impact of natural disasters on economic growth, focusing on the 10th percentile of GDP growth to capture the worst recessions experienced by countries. Using the Quantile Local Projections (QLP) method on a panel of developing countries, we explore whether these disaster shocks worsen economic downturns and delay recoveries. Our findings reveal that natural disasters tend to exacerbate severe economic contractions in developing countries, causing a lasting decrease in the lower tail of GDP growth distribution. This effect is especially pronounced in the agricultural and industrial sectors, with the services sector showing a less persistent response. Moreover, high-income developing countries and those with better political institutions better counteract the adverse effects of natural disasters and exhibit greater resilience when output is extremely low. |
| Keywords: | Natural Disasters, quantile local projections, development economics |
| JEL: | E |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:inf:wpaper:2024.8 |
| By: | Dang, Hai Anh H.; Hallegatte, Stephane; Trinh, Trong Anh |
| Abstract: | We offer an updated and comprehensive review of recent studies on the impacts of climate change, particularly global warming, on poverty and inequality, paying special attention to data sources as well as empirical methods. While studies consistently find negative impacts of higher temperatures on poverty across different geographical regions, with higher vulnerability especially in poorer Sub-Saharan Africa, there is inconclusive evidence on climate change impacts on inequality. Further analyzing a recently constructed global database at the subnational unit level derived from official national household income and consumption surveys, we find that temperature change has larger impacts in the short term and more impacts on chronic poverty than transient poverty. The results are robust to different model specifications and measures of chronic poverty and are more pronounced for poorer countries. Our findings offer relevant inputs into current efforts to fight climate change. |
| Keywords: | climate change; inequality; poverty; subnational data; temperature |
| JEL: | J1 |
| Date: | 2024–06–03 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:123884 |
| By: | Francesca Guadagno (The Vienna Institute for International Economic Studies, wiiw); Oliver Reiter (The Vienna Institute for International Economic Studies, wiiw); Robert Stehrer (The Vienna Institute for International Economic Studies, wiiw) |
| Abstract: | Increasing production of green technologies in the EU holds great potential for the European economy. This study uses trade data and input-output tables to estimate the impacts on GDP and employment of reshoring to the EU the production of five major green technologies photovoltaics, wind turbines, batteries, electric motors and electric vehicles. Our findings show that reshoring these five technologies would increase EU GDP by EUR 18.4 billion, or 0.13% of EU GDP, and create 242, 728 new jobs. The same shift of imports to EU production would have had roughly half of the impact in 2010. We also find significant spillover effects on other sectors of the economy, particularly for metal products, wholesale and retail, professional, scientific and technical activities, and administrative and support services. To make the most from the transition, we argue that EU green industrial policy should put more emphasis on manufacturing capacities and innovation to meet the targets of the Net Zero Industry Act, remain internationally competitive, and reduce strategic dependencies. |
| Keywords: | green transition; photovoltaics; batteries; electric vehicles; GDP; employment |
| JEL: | Q55 Q56 F14 O25 |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:wii:pnotes:pn:80 |
| By: | Aluchna, Maria; Roszkowska-Menkes, Maria (Tilburg University, School of Economics and Management); Khan, Sana |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:tiu:tiutis:63f6cd04-4cfd-4f63-afb8-248b4ab4d8d3 |
| By: | Brüggemann, Anke; Rode, Johannes |
| Abstract: | A recent analysis of the KfW Climate Barometer revealed that in the year 2022, 4.3% or approx. 160, 000 private-sector firms in Germany invested in the generation and storage of electricity or heat from renewable energy sources. That was significantly more than in the previous year. The increase in fossil fuel prices caused by Russia's war of aggression against Ukraine has made investment in renewables more attractive. More than half of firms (54%) in Germany were already using electricity from renewables. But only one in ten businesses was using heat from renewable energy. Both electricity and heat from renewables are more common in larger enterprises than in smaller firms. The provision of heat in industry and commerce is still largely based on burning fossil fuels. That is why it is now necessary to place a stronger focus on the decarbonisation of industrial process heat supply. |
| Date: | 2024–04–26 |
| URL: | https://d.repec.org/n?u=RePEc:dar:wpaper:145732 |
| By: | Liliana Roca Villarroel (Investigadora invitada de INESAD) |
| Abstract: | En el marco del proyecto de investigación Creación de empleos verdes para mujeres indígenas en el sector de la quinua boliviana para una respuesta y recuperación al COVID-19 baja en emisiones de carbono, el presente estudio de caso estimó la huella de carbono asociada a la producción de la quinua en el sur de Bolivia considerando 19 parcelas. Utilizando un enfoque de análisis de ciclo de vida de la cuna a la puerta, bajo el estándar ISO 14067 y analizando diversas fuentes de emisión a través de la herramienta Cool Farm Tool, se determinó que la huella de carbono genera un promedio por parcela de 741, 7 kg CO2e; y por hectárea, un promedio de 267, 4 kg CO2e. Las principales fuentes de emisión identificadas son el uso de abono orgánico (54%), el consumo de combustibles fósiles (35%) y el uso de insumos de protección (8%). Considerando la unidad declarada de 1 kg de quinua cosechada, se obtuvieron resultados de la huella de carbono por producto, con valores que oscilan entre 0, 3 y 2, 3 kg CO2e/kg de quinua y un promedio de 0, 98 kg CO2e/kg de quinua. |
| Keywords: | climate change, carbon footprint, quinoa crops. |
| JEL: | Q16 Q29 Q54 Y8 |
| Date: | 2024–05 |
| URL: | https://d.repec.org/n?u=RePEc:adv:wpaper:202407 |
| By: | R. ABBAS (INSEE); N. CARNOT (INSEE); M. LEQUIEN (INSEE); A. QUARTIER-LA-TENTE (INSEE); S.ROUX (INSEE) |
| Abstract: | Avec un modèle de choix optimal d'investissement – ou d'échouage – en capital brun, émetteur de gaz à effet de serre, ou vert, sans émissions, nous décrivons les transitions optimales vers la neutralité carbone qui respectent des contraintes climatiques de type plafonds ponctuels d'émissions (Fit for 55) ou budget carbone. Nous montrons que : i) un échouage anticipé ne peut pas se produire avec des cibles ponctuelles ; ii) pour limiter le réchauffement à un niveau donné, introduire explicitement cette contrainte sous la forme d'un budget carbone restant minimise le coût économique associé, induisant un échouage initial élevé avec des budgets limités. Des plafonds d'émissions réguliers dès la première année, et choisis à partir des émissions de cette trajectoire optimale, entraînent une trajectoire proche ; iii) à cumul d'émissions donné, retarder la transition augmente les coûts et l'échouage ; iv) l'investissement total durant et après la transition est inférieur à celui de l'état initial. Tous les codes utilisés sont disponibles sous https://github.com/InseeFrLab/DT-way-to- net-zero. |
| Keywords: | transition écologique, budget carbone, neutralité carbone, capital échoué, investissements |
| JEL: | Q54 Q58 E20 C61 P18 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:nse:doctra:2024/11 |
| By: | International Monetary Fund |
| Abstract: | Since 2016, public development action in Mauritania by 2030 has been framed by the Strategy for Accelerated Growth and Shared Prosperity (SCAPP). This reference framework for strategic planning for the country's economic, social and environmental development also incorporates the United Nations 2030 Agenda for Sustainable Development (SDGs). In addition, the SCAPP has been the subject of a framework law that makes it possible to establish it as a reference framework for development interventions carried out by the Government with the support of its technical and financial partners (TFPs). |
| Date: | 2024–06–28 |
| URL: | https://d.repec.org/n?u=RePEc:imf:imfscr:2024/195 |
| By: | Fausto Gozzi; Marta Leocata; Giulia Pucci |
| Abstract: | This paper studies a model for the optimal control (by a centralized economic agent which we call the planner) of pollution diffusion over time and space. The controls are the investments in production and depollution and the goal is to maximize an intertemporal utility function. The main novelty is the fact that the spatial component has a network structure. Moreover, in such a time-space setting we also analyze the trade-off between the use of green or non-green technologies: this also seems to be a novelty in such a setting. Extending methods of previous papers, we can solve explicitly the problem in the case of linear costs of pollution. |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2406.15338 |
| By: | Sulehri, Fiaz Ahmad; Ali, Amjad |
| Abstract: | The concept of sustainable development holds significant importance for both current and future generations. This research examines the different pathways and relationships among sustainable development, stock market performance, foreign direct investment, regulatory framework, and innovation. The structural equation modeling technique used and analysis have been conducted using a sample of 24 countries that contribute around 65% of global greenhouse gas emissions over the period from 2000 to 2019. The empirical analysis, based on direct effects, confirms that innovation enhances stock market performance and necessitates stringent regulations. Conversely, innovation reduces foreign direct investment. Similarly, a set of regulations and stock market performance have an adverse impact on sustainable development. Additionally, the empirics of indirect effects reveal that innovation and stock market performance encourage foreign direct investment by using regulations as mediators. Moreover, innovation reduces sustainable development indirectly, considering stock market performance and foreign direct investment as mediators. |
| Keywords: | Stock Market Performance, Innovation, Foreign Direct Investment, Regulatory Framework, Sustainable Development, Structural Equation Model |
| JEL: | F21 G18 Q56 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:121286 |
| By: | International Monetary Fund |
| Abstract: | The Netherlands is exposed to both physical and transition risks from climate change. Due to unique geographic factors, about 60 percent of the land surface in the Netherlands is vulnerable to flooding from the sea and the large rivers, with nearly 26 percent of the land surface below sea level. Also, the Netherlands has high levels of nitrogen depositions from agriculture and transportation, exceeding the critical value set by EU Directives. |
| Date: | 2024–06–18 |
| URL: | https://d.repec.org/n?u=RePEc:imf:imfscr:2024/169 |
| By: | thomas, anna; Mathur, Maya B; Hope, Jessica Elizabeth (Stanford University School of Medicine) |
| Abstract: | Plant-based diets can help mitigate climate change. We investigated longitudinal effects of popular media that encourage plant-based diets from diverse perspectives, including health, environment, and animal welfare. We systematically searched for the most popular such media, which were all films. In initial correlational analyses, Google search interest for the films explained the majority (73%) of variance in search interest for plant-based food, but was not associated with consumption of meat or of plant-based alternatives. In primary analyses using pre-registered causal inference models that controlled for confounding, we estimated that each 1-SD increase in search interest for the health-focused films What the Health (2017), The Game Changers (2018), and You Are What You Eat (2024) increased search interest in plant-based food by 43%, 11%, and 11% respectively in the following week. These results can inform communication approaches for ongoing efforts of governments and other organizations encouraging sustainable diets. |
| Date: | 2024–07–04 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:yh94d |
| By: | Gary D. Libecap |
| Abstract: | The governance and transaction cost insights of Oliver Williamson (1975, 1985, 1996, 2010) and Ronald Coase (1937, 1992) have framed antitrust polices and firm management strategies. Transaction cost economics explain efficient governance adaptation. With a focus on private efficiency gains within firms and markets, however, neither Williamson nor Coase explore political exchange and rent-seeking. Coase (1960) sought to reform Pigouvian externality regulation based on transaction cost efficiencies. He called for assignment of property rights and bargaining, and for institutional comparisons of costs and benefits to reveal relative transaction cost and welfare advantages. His 1960 paper is among the most cited in economics, but his remedies have not been adopted as the primary approach in major US environmental policies. All US environmental and natural resource laws since 1970 are Pigouvian. Limited Coasean bargaining occurs late and around the edges of the laws. The efficiency advantages, welfare gains, and collaborative responses Coase suggested have not been achieved. The Magnuson-Stevens Fishery Act of 1976, enacted 16 years after Coase, used Pigouvian fishery regulation for 25 years, and upon failure, was replaced by abbreviated property rights and trade. Fishery economic values were lowered relative to what might have been possible. The Endangered Species Act of 1973 rejected previous Coasean legislation authorizing purchase of critical habitat and instead opted for uncompensated Pigouvian controls on private landowners, who held most endangered species. Landowners resisted, and only 3% of listed endangered species have recovered. There is no evidence of a weighing of comparative transaction costs between Coase or Pigou in enacting any legislation. Rent-seeking via political bargaining among interest groups, politicians, and agency officials explains many of the observed patterns in externality regulation. The analysis suggests that transaction cost economics play a lesser role in the political arena. |
| JEL: | K11 K32 N42 N5 N52 N92 Q52 Q53 Q57 Q58 |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:32603 |
| By: | Sylvain Béal (Université de Franche-Comté, CRESE, UR3190, F-25000 Besançon, France); David Lowing (Laboratoire de Génie Industriel, CentraleSupélec, Université Paris-Saclay, France); Léa Munich (Université de Franche-Comté, CRESE, UR3190, F-25000 Besançon, France and Université de Lorraine, BETA, F-54000 Nancy, France) |
| Abstract: | We consider the problem of sharing the cost of cleaning the non-point source pollution of industrial sites among the firms that own these sites. The bilateral liabilities between firms are depicted by an undirected graph. We introduce and characterize axiomatically two allocation rules inspired by the celebrated Polluter pays and Beneficiary pays principles in environmental law. The first one shares evenly the cost of cleaning up a site among the firms that can have caused the corresponding environmental damage. The second one charges to each firm the entire cost of cleaning up its own production site. We also establish connections with cooperative game theory. |
| Keywords: | Cooperative game theory; Cost allocation; Pollution; liability |
| JEL: | C71 |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:crb:wpaper:2024-13 |
| By: | Kang, Munsu (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Son, SungHyun (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Ryou, Kwangho (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Lee, Jieun (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Han, Saerom (Sookmyung Women's University) |
| Abstract: | 중동·북아프리카 지역의 에너지 보조금 정책 개혁에 관한 논의는 정부 재정 건전화, 사회보장 서비스 확대를 위한 재원 확보, 기후변화 대응 및 탈탄소화를 근거로 지속적으로 이루어지고 있다. 그러나 2010년대 이후 이루어진 보조금 정책 개혁에 따라 물가가 급등하면서 사회적 불안정이 발생하는 계기가 되기도 하였다. 이에 본 연구에서는 2010~21년 사이 에너지 보조금 정책이 중동·북아프리카 지역 경제 활동과 환경에 미친 영향, 그리고 에너지 보조금에 관한 사회적 인식도 조사를 바탕으로 보조금 정책 개혁을 위한 정책 과제를 제시하였다. 에너지 보조금 개혁에 관한 논의는 역내 경제 성장, 사회적 영향, 그리고 환경적인 영향까지 종합적으로 고려해서 이루어져야 하는바, 이에 본 연구에서는 취약계층을 위한 사회 서비스 개선, 대중교통 시스템 및 에너지 효율성 개선, 재생에너지 지원 확대, 캠페인을 통한 인식 개선을 정책 과제로 제시하였다. In recent years, international efforts have been made to reduce fossil fuel-based energy subsidies as the energy transition has accelerated in response to climate change. As part of a social contract, energy subsidies have been used to stabilize domestic prices and stimulate the economy, especially in the Middle East and North Africa. As a result, per capita energy subsidies in the Middle East and North Africa (hereafter referred to as MENA) have reached the highest levels in the world, and excessive government spending has also been identified as a factor preventing the expansion of social services for the most vulnerable. In light of the decarbonization trends and research showing that energy subsidies contribute to air pollution, subsidy policies are at a critical crossroads between reduction and maintenance. However, the Arab Spring in 2011 occurred in countries that attempted to reduce energy subsidies and resulted in consumer prices rises contributing to political instability. More recently, the overall increase in energy subsidies since 2020 was also an attempt to stabilize the domestic situation by overcoming the economic downturn through the successive outbreaks of the COVID-19 pandemic and the Russian-Ukrainian war. Despite its importance, there is little research on the impact and social perceptions of energy subsidy policies in the MENA region with coverage since the late 2010s. To fill this gap, this study focuses on the impact of energy subsidy policies on the economy and environment, and social perceptionsof energy subsidies in the MENA region. Using satellite data such as nighttime lights and air pollution concentrations, this study examines trends in energy subsidy policies and levels in the MENA region in the 2010-2021 period. Lastly, we conducted an online survey to examine awareness of energy subsidy policy and policy reform in the MENA. Based on these findings, this study proposed recommendations for energy subsidy policy reform, taking into account the MENA context. (the rest omitted) |
| Keywords: | Middle East and North Africa(MENA); climate change; energy subsidy reform; energy transition |
| Date: | 2023–12–29 |
| URL: | https://d.repec.org/n?u=RePEc:ris:kieppa:2023_018 |
| By: | ITF |
| Abstract: | In 2020, the ITF published “Good to Go? Assessing the Environmental Performance of New Mobility”. In the four years since its publication, the evidence base regarding the environmental impact of micromobility has improved and significant progress has been made to reduce the environmental impact of micromobility. This report updates the previous study based on newly published evidence, a survey of industry actors, and recently published reports. The report provides recommendations for authorities and micromobility operators to maximise the environmental performance of micromobility. It draws on a comprehensive lifecycle environmental impact spreadsheet tool containing all calculations, input factors and sources used for this update. |
| Date: | 2024–06–19 |
| URL: | https://d.repec.org/n?u=RePEc:oec:itfaac:131-en |
| By: | Fabrice Hervé (CREGO - Centre de Recherche en Gestion des Organisations - Université de Haute-Alsace (UHA) - Université de Haute-Alsace (UHA) Mulhouse - Colmar - UB - Université de Bourgogne - UBFC - Université Bourgogne Franche-Comté [COMUE] - UFC - Université de Franche-Comté - UBFC - Université Bourgogne Franche-Comté [COMUE]); Sylvain Marsat (CleRMa - Clermont Recherche Management - ESC Clermont-Ferrand - École Supérieure de Commerce (ESC) - Clermont-Ferrand - UCA [2017-2020] - Université Clermont Auvergne [2017-2020]) |
| Abstract: | This paper empirically investigates the determinants of willingness to do good of green investment within a real-world context. Using data from a questionnaire administered between December 2021 and January 2022 to French individual investors, we find that "being good" (altruism) and "acting for good" (perceived impact) exert a substantial influence on both the decision-making process and the amount invested in green funds, while positive emotions (warm glow) are not significantly linked. This research highlights the core importance of altruism in green investment decision. |
| Keywords: | Green Investment, Individual Investors, Altruism, Impact Investing, Warm Glow, Sustainable Finance JEL Classification: D14, G11, G41, G51, Q54 |
| Date: | 2024–06–19 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04624853 |
| By: | Cunha, Daniel; Craveiro, Giovana; Rossi, Marina |
| Abstract: | This paper explores a granular database from the Inter-American Development Bank (IDB) Green Bond Transparency Platform covering the issuance of 430 corporate and sovereign Environmental, Social, and Governance (ESG) bonds in Latin America and the Caribbean (LAC) that are outstanding in international markets. The goal was to investigate how the creation of a sovereign ESG reference yield curve can boost the private ESG bond market. Using a difference-in-differences (DID) approach, we empirically estimate that the creation of a sovereign ESG reference curve roughly leads to a 60 percent increase in the volume of corporate bond issuances and a 25 percent increase in the number of ESG corporate bond issuances in the external markets after three years. On the mechanisms, we argue that the sovereign ESG reference yield curve works as a benchmark for private sector ESG bond issuers by providing a standard against which the performance of ESG bonds can be measured. |
| Keywords: | ESG;thematic bond;green;Social;Sustainability;sustainability-linked bond;debt capital markets;sovereign debt;LAC;corporate sector;international markets |
| JEL: | H63 E43 R50 |
| Date: | 2024–03 |
| URL: | https://d.repec.org/n?u=RePEc:idb:brikps:13452 |
| By: | Czock, Berit (Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI)); Frings, Cordelia (Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI)); Arnold, Fabian (Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI)) |
| Abstract: | To decrease emissions from residential buildings, Germany employs a number of policies like renewable energy requirements, subsidies, and CO2 prices that incentivize heating decarbonization. This paper analyses policy-driven household decision-making with regards to decentralized heating technology investment and the resulting costs. We apply a building level mixed integer linear programming model that computes optimal energy investment and operation for decentralized building energy technologies in 770 archetype buildings that represent the German residential building stock. We find that under renewable energy requirements, subsidies, CO2 prices, high medium-term gas prices, and moderately increasing electricity prices, it is optimal for many buildings to replace their fossil systems prematurely by electric heat pumps, achieving quick and substantial decarbonization. However the costs for decentralized decarbonization differ greatly between buildings: Some buildings profit from the subsidies, while others face high burdens. Especially, single family homes with recently installed gas and oil systems and inhabitants of multi family homes potentially face high expenditures for CO2 prices. Policy-makers should consider these dynamics when prioritizing buildings for district heating or hydrogen in the municipal heat planning processes and when designing CO2 price revenue recycling mechanisms. |
| Keywords: | Emission reduction; building sector; building stock; household heating; CO2 pricing; building policy; MILP; archetype buildings; subsidies; decentralized technologies |
| JEL: | C53 C54 D15 D30 H20 Q48 |
| Date: | 2024–06–25 |
| URL: | https://d.repec.org/n?u=RePEc:ris:ewikln:2024_004 |
| By: | Akoh Fabien Yao (i3-CRG - Centre de recherche en gestion i3 - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - I3 - Institut interdisciplinaire de l’innovation - CNRS - Centre National de la Recherche Scientifique); Maxime Sèbe (i3-CRG - Centre de recherche en gestion i3 - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - I3 - Institut interdisciplinaire de l’innovation - CNRS - Centre National de la Recherche Scientifique); Laura Recuero Virto (PULV - Pôle Universitaire Léonard de Vinci); Abdelhak Nassiri (AMURE - Aménagement des Usages des Ressources et des Espaces marins et littoraux - Centre de droit et d'économie de la mer - IFREMER - Institut Français de Recherche pour l'Exploitation de la Mer - UBO - Université de Brest - IUEM - Institut Universitaire Européen de la Mer - IRD - Institut de Recherche pour le Développement - INSU - CNRS - Institut national des sciences de l'Univers - UBO - Université de Brest - CNRS - Centre National de la Recherche Scientifique - CNRS - Centre National de la Recherche Scientifique); Hervé Dumez (i3-CRG - Centre de recherche en gestion i3 - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - I3 - Institut interdisciplinaire de l’innovation - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Environmental practices can enable most businesses, including ports, to gain a competitive advantage. Given the chicken-and-egg dilemma for the adoption of alternative fuels in the shipping industry, this article assesses whether and to what extent ports have incentives to provide liquefied natural gas (LNG) bunkering infrastructure. More specifically, we test whether such facilities positively affect the competitiveness of the ports, which would be an additional incentive to drive the transition to alternative fuels. Using multilevel regressions and propensity score matching on LNG-fueled vessel movements in the Baltic Sea Region in 2019, we found no significant effect of LNG bunkering infrastructure on port competitiveness, measured by port choice probabilities expressed by vessels. Although our findings indicate that ports do not gain a competitive advantage in the short-term, we do not rule out potential gains in the long-term. Policy intervention is desirable in the short-term to maintain incentives for port investments |
| Abstract: | Les pratiques environnementales peuvent permettre à la plupart des entreprises, y compris les ports, d'obtenir un avantage concurrentiel. Compte tenu du dilemme de la poule et de l'œuf pour l'adoption de carburants de substitution dans l'industrie du transport maritime, cet article évalue si et dans quelle mesure les ports ont des incitations à fournir des infrastructures de soute au gaz naturel liquéfié (GNL). Plus précisément, nous testons si ces installations ont une incidence positive sur la compétitivité des ports, ce qui serait une incitation supplémentaire à conduire la transition vers des carburants alternatifs. En utilisant les régressions à plusieurs niveaux et l'adéquation des scores de propension sur les mouvements des navires alimentés par le GNL dans la région de la mer Baltique en 2019, nous n'avons constaté aucun effet significatif de l'infrastructure de soute de GNL sur la compétitivité des ports, mesurée par les probabilités de choix portuaire exprimées par les navires. Bien que nos conclusions indiquent que les ports n'obtiennent pas d'avantage concurrentiel à court terme, nous n'excluons pas les gains potentiels à long terme. L'intervention politique est souhaitable à court terme pour maintenir des incitations aux investissements portuaires. |
| Keywords: | LNG, Port choice, Baltic Sea, Multilevel regression, Propensity score matching, GNL, Choix du port, Mer Baltique, Régression à plusieurs niveaux, Correspondance de scores de propension |
| Date: | 2024–07 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04611804 |
| By: | Rémy Rioux; Matthieu Trichet,; Jean-David Naudet |
| Abstract: | Les 193 pays membres des Nations-unies ont adopté à l’unanimité en 2015 l’agenda 2030 pour le développement durable. Cet agenda commence par une vision commune décrivant les différentes caractéristiques d’un monde universellement souhaitable et notamment « one in which democracy, good governance and the rule of law as well as an enabling environment at national and international levels, are essential for sustainable development, including sustained and inclusive economic growth, social development, environmental protection and the eradication of poverty and hunger ». Cependant dans les 17 objectifs et 169 cibles qui constituent la suite de cet agenda 2030, la démocratie, contrairement à toutes les autres caractéristiques de la vision commune, n’est plus mentionnée. Un 18ème objectif du développement aurait-il été perdu en route ? Ou peut-être un objectif 16 augmenté, car ce dernier reprend la bonne gouvernance et l’état de droit mais toutefois sans cible démocratique.Cette absence de la démocratie parmi les objectifs universels de développement est le fil conducteur de ce document de recherche qui à partir d’un inventaire sélectif et ordonné des connaissances pertinentes interroge la place de la démocratie dans le développement et dans l’aide au développement, à travers une perspective historique s’achevant par des éléments de réflexion sur le futur. |
| JEL: | Q |
| Date: | 2024–06–25 |
| URL: | https://d.repec.org/n?u=RePEc:avg:wpaper:fr16915 |
| By: | Hanna M. Schwank (University of Bonn) |
| Abstract: | Natural disasters are growing in frequency globally. Understanding how vulnerable populations respond to these disasters is essential for effective policy response. This paper explores the short- and long-run consequences of the 1906 San Francisco Fire, one of the largest urban fires in American history. Using linked Census records, I follow residents of San Francisco and their children from 1900 to 1940. Historical records suggest that exogenous factors such as wind and the availability of water determined where the fire stopped. I implement a spatial regression discontinuity design across the boundary of the razed area to identify the effect of the fire on those who lost their home to it. I find that in the short run, the fire displaced affected residents, forced them into lower paying occupations and out of entrepreneurship. Experiencing the disaster disrupted children’s school attendance and led to an average loss of six months of education. While most effects attenuated over time, the negative effect on business ownership persists even in 1940, 34 years after the fire. Therefore, my findings reject the hope for a “reversal of fortune” for the victims, in contrast to what is found for more recent natural disasters such as hurricane Katrina. |
| Keywords: | Natural disasters, internal migration, economic history, regional and urban economics |
| JEL: | N91 N31 Q54 O15 J61 J62 |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:ajk:ajkdps:312 |
| By: | Elie Bouri (School of Business, Lebanese American University, Lebanon); Rangan Gupta (Department of Economics, University of Pretoria, Private Bag X20, Hatfield 0028, South Africa); Asingamaanda Liphadzi (Department of Economics, University of Pretoria, Private Bag X20, Hatfield 0028, South Africa); Christian Pierdzioch (Department of Economics, Helmut Schmidt University, Holstenhofweg 85, P.O.B. 700822, 22008 Ham- burg, Germany) |
| Abstract: | We analyze whether changes in temperature anomalies, and its second, third, and fourth moments, carry valuable information in forecasting historical stock returns volatility of Canada, France, Germany, Italy, Japan, the United Kingdom (UK), and the United States (US), i.e., the G7 countries, after controlling for leverage, skewness and (excess) kurtosis of stock price fluctuations. Using centuries of monthly data, covering the period 1915-2024 for Canada and Italy, 1898-2024 for France, 1870-2024 for Germany, 1914-2024 for Japan, 1693-2024 for the UK, and 1791-2024 for the US, the results show that stock market moments matter more than climate risks for accurately forecasting stock returns volatility. Extended analyses confirm that climate risks are already captured by the moments of stock returns. We discuss the implications of our findings for investment decisions and economic policy. |
| Keywords: | Stock market, Volatility, Forecasting, Moments, Climate risks, G7 countries |
| JEL: | C22 C32 C53 G10 G17 Q54 |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:pre:wpaper:202424 |
| By: | Gono Sagno (UGLCS - Université Général Lansana Conté de Sonfonia-Conakry) |
| Abstract: | In order to better understand the causes of the water crisis in Guinea's major cities despite its natural predispositions that offer it very abundant water resources, we analyze the determinants of drinking water supply using data from 1996 to 2019. After testing the stationarity of the variables, we use an Engle-Granger error-correction model estimated by ordinary least squares. The results show that water consumption, average applied tariff and urban population significantly influence the supply of drinking water in Guinea, whereas investment does not. To solve the water problem in Guinea, the results of the study suggest policies aimed at increasing water consumption, increasing tariffs and raising public awareness of rational water resource management in the short term, with substantial investment in the sector. |
| Abstract: | Afin de mieux comprendre les causes de la crise hydrique des grandes villes de la Guinée malgré ses prédispositions naturelles qui lui offrent des ressources en eau très abondantes, nous analysons les déterminants de l'offre d'eau potable en utilisant les données de 1996 à 2019. Après avoir testé la stationnarité des variables, nous utilisons un modèle à correction d'erreur à la Engle-Granger estimé par les moindres carrés ordinaires. Les résultats montrent que la consommation d'eau, le tarif moyen appliqué et la population urbaine influencent significativement l'offre d'eau potable en Guinée alors que l'investissement ne l'impact pas. Ainsi pour résoudre le problème hydrique en Guinée, les résultats de l'étude suggèrent des politiques allant dans le sens de l'accroissement de la consommation d'eau, un changement tarifaire à la hausse et la sensibilisation de la population à la gestion rationnelle des ressources d'eau à court terme, avec un investissement conséquent dans le secteur. |
| Keywords: | Water crisis - Drinking water supply - Drinking water tariffs - Guinea., hydrique -Offre d'eau potable -Tarifs de Water crisis -Drinking water supply -Drinking water tariffs -Guinea. JEL Classification: Q25 -H41 -Q21 -D24 -L95 |
| Date: | 2023–12–30 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04606205 |
| By: | International Monetary Fund |
| Abstract: | Economic performance in 2023 has been broadly positive, with decreasing inflation and a narrowing current account deficit, although real GDP growth slowed somewhat. Still, challenges related to infrastructure, governance, vulnerability to economic shocks, and limited economic diversification constrain Mauritania’s economic development. While the political situation appears stable, security risks persist, especially in the Sahel region. Additionally, frequent and severe climate-related disasters create large adaptation needs, though opportunities for boosting clean energy exist. |
| Date: | 2024–06–28 |
| URL: | https://d.repec.org/n?u=RePEc:imf:imfscr:2024/194 |
| By: | Benjamin J. Keys; Philip Mulder |
| Abstract: | We develop a new dataset to study homeowners insurance. Our data on over 47 million observations of households’ property insurance expenditures from 2014-2023 are inferred from mortgage escrow payments. First, we find a sharp 33% increase in average premiums from 2020 to 2023 (13% in real terms) that is highly uneven across geographies. This growth is associated with a stronger relationship between premiums and local disaster risk: A one standard-deviation increase in disaster risk is associated with $500 higher premiums in 2023, up from $300 in 2018. Second, using the rapid rise in reinsurance prices as a natural experiment, we show that the increase in the risk-to-premium gradient was largely caused by the pass-through of reinsurance costs. Third, we project that if the reinsurance shock persists, growing disaster risk will lead climate-exposed households to face $700 higher annual premiums by 2053. Our results highlight that prices in global reinsurance markets pass through to household budgets, and will ultimately drive the cost of rising climate risk. |
| JEL: | G21 G22 G52 Q54 R31 |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:32579 |
| By: | Ralph Janik |
| Abstract: | Abstract:The global investment regime stands at a crossroads. From the late 1980s onwards, its predominant, if not exclusive focus on economic growth has been increasingly shifting towards sustainable development. The delicate balance between these considerations is reflected in bilateral or multilateral negotiations , national legislation, and decisions by domestic courts or investment tribunals. One does not work without the other.To contribute to this discussion, this policy brief summarizes existing environmental provisions in investment treaties and and free trade agreements to outline their potential role as part of the 2030 Agenda for Sustainable Development. In so doing, it summarizes the positions of the relevant multilateral institutions and fora, namely the UN Conference on Trade and Development, the OECD, or the United Nations Commission on International Trade Law. The general assumption is clear: While investment protection in general and investor-state-dispute settlement is under enormous pressure due to accusations of ignoring societal values such as environmental concerns, calls for disbanding it are premature. Foreign direct investment can and should play More, not less, foreign direct investment is needed to protect the environment. |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:wsr:pbrief:y:2024:m:06:i:63 |
| By: | Nkuba, Bossissi; Nabintu Kabagale, Liliane; Mukotanyi Mugisho, Serge; Ndele, Bitagirwa; Kabilambali, Gracia; Mugisho, Didier; Mugisho Zahinda, Franck |
| Abstract: | Cette étude analyse le coût écologique de l'extraction et de l'utilisation de matériaux de construction à Bukavu, révélant des impacts environnementaux significatifs tels que la déforestation et la pollution de l'eau. Malgré la faible consommation de matériaux en raison de la pauvreté, le non-respect des lois environnementales aggrave les risques pour la santé et l'écosystème. Les acteurs de la construction, bien conscients de ces effets néfastes, restent impuissants, soulignant la nécessité de politiques favorisant la réutilisation des matériaux pour une construction durable. |
| Keywords: | Bukavu; construction |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:iob:wpaper:2024.05 |
| By: | Moritz, Michael (Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI)); Czok, Berit (Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI)); Ruhnau, Oliver (Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI)) |
| Abstract: | To tackle climate change, residential heating must become climate-neutral. Which technology costefficiently achieves this goal is a complex question, given the heterogeneity of buildings and existing infrastructure, as well as uncertainty regarding future energy prices and grid fees. This article aims to disentangle this complexity by comparing the future costs of various decentral and central climate-neutral heating options. Using Germany as a case study, we calculate the future levelized costs of major heating technologies for different building and settlement types and a wide range of assumptions for uncertain parameters like energy prices and infrastructure costs. We find that electric heat pumps are economical most often within the modeled range of inputs, deployed either decentrally in rural areas or centrally with heating grids in more urban areas. Hydrogen boilers can also be cost-efficient, mainly in rural areas and scenarios with low hydrogen prices and grid fees or high electricity grid fees. By contrast, heating with synthetic natural gas seems unlikely to be economical across our broad range of plausible input assumptions. |
| Keywords: | Infrastructure costs; Energy prices; Heat pumps; Hydrogen; Decarbonization; Techno-economic analysis; Levelized costs of heating; Residential heating; Building energy |
| JEL: | D61 E61 Q40 Q42 Q48 |
| Date: | 2024–06–21 |
| URL: | https://d.repec.org/n?u=RePEc:ris:ewikln:2024_003 |
| By: | Bayerlein, Michael; Böttcher, Miranda; Rudloff, Bettina; Villarreal, Pedro A. |
| Abstract: | In the European summer of 2027, the world faces a threat, not only to human health but also to biological diversity and food security. An alarming scenario is emerging: The rapidly thawing permafrost in the Russian tundra has released an unknown form of anthrax that is primarily transmitted by birds. European efforts to collaborate with Russia in combating the spread of this pathogen are being met with resistance. |
| Keywords: | pathogens, permafrost, climate change, anthrax, Russia, global health, health threats, global health governance architecture |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:swpcom:299529 |
| By: | Giovanardi, Francesco; Kaldorf, Matthias |
| Abstract: | This paper proposes a quantitative multi-sector DSGE model with bank failure and firm default to study the interactions between bank regulation and climate policy. Households value the liquidity of deposits, which are protected by deposit insurance. Banks collect deposits and issue equity to extend defaultable loans to clean and fossil energy firms. Bank capital regulation affects liquidity provision to households, bank risk-taking, and loan supply across sectors. Using a calibrated version of the model, we obtain four results: first, fossil penalizing capital requirements can be discarded as climate policy instrument, since their effect on sector-specific investment is quantitatively negligible in general equilibrium. Second, Ramsey-optimal capital requirements in response to a tax-induced clean transition decline to counteract negative loan demand effects. Third, differentiated capital requirements are only necessary if banks are not perfectly diversified across sectors. Fourth, nominal rigidities induce a temporary tightening of capital requirements if the transition is inflationary and, thus, spurs a boom on the loan market. |
| Keywords: | Bank Regulation, Liquidity Provision, Risk-Taking, ClimatePolicy, Clean Transition, Multi-Sector Model |
| JEL: | E44 G21 G28 Q58 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:bubdps:298857 |
| By: | ITF |
| Abstract: | This report assesses the potential of decarbonising heavy-duty trucks in India with zero-emission technologies, focusing on battery-electric technology. It presents a four-pillared roadmap for a transition to zero-emission trucks that addresses technology, infrastructure and operations, financing, and policy interventions for India. It achieves this by identifying economically feasible truck segments (based on weight classification) for the transition, along with strategies for developing support infrastructure and innovative financing models. |
| Date: | 2024–06–18 |
| URL: | https://d.repec.org/n?u=RePEc:oec:itfaac:130-en |
| By: | International Monetary Fund |
| Abstract: | The authorities’ implementation of the home-grown Economic Recovery and Transformation (BERT 2022) plan and their ambitious climate policy agenda remain strong, supported by the IMF’s Extended Fund Facility (EFF) and Resilience and Sustainability Facility (RSF). In 2023, the economy completed its recovery from the pandemic, growing by an estimated 4.4 percent, driven by a rebound in tourism and related sectors. Inflation moderated gradually with the easing of global commodity prices but remained somewhat elevated due to adverse weather conditions that affected some domestic crops, and stronger demand for tourism-related services. The external position also strengthened, with the current account deficit narrowing to 9 percent of GDP and ample international reserves (US$1.5 billion at end-2023) continuing to support the exchange rate peg. The authorities remain committed to maintaining fiscal consolidation and debt sustainability, while advancing structural reforms to achieve more inclusive and sustainable growth and increase resilience to climate change. |
| Date: | 2024–06–28 |
| URL: | https://d.repec.org/n?u=RePEc:imf:imfscr:2024/196 |
| By: | TIEN MANH VU (Faculty of Global Management, Chuo University); Hiroyuki Yamada (Faculty of Economics, Keio University) |
| Abstract: | We examine impacts of improved rural roads on villagers, using panel data of Cambodian villages (2006-2021). We find an association between the wealth of villagers and the improvement of rural roads. A higher minimum price for rice at farm gate may be one of the reasons for the increase in wealth. We also find impacts of improved rural roads on (reducing) illiteracy rates among villagers. However, we do not find any statistically significant impacts on school enrollment rate, structural change, or internal migration. Instead, improved rural roads lead to a higher share of families being subjected to environmental pollution. |
| Keywords: | Improved rural roads, wealth, rice, education, pollution, Cambodia |
| JEL: | O15 R11 R58 R42 |
| Date: | 2024–06–18 |
| URL: | https://d.repec.org/n?u=RePEc:keo:dpaper:2024-016 |
| By: | Rangan Gupta (Department of Economics, University of Pretoria, Private Bag X20, Hatfield 0028, South Africa); Qiang Ji (Institutes of Science and Development, Chinese Academy of Sciences, Beijing, China; School of Public Policy and Management, University of Chinese Academy of Sciences, Beijing, China); Christian Pierdzioch (Department of Economics, Helmut Schmidt University, Holstenhofweg 85, P.O.B. 700822, 22008 Hamburg, Germany) |
| Abstract: | Focusing on China, we study the predictive value of Chinese climate policy uncertainty (CCPU) for subsequent stress in China’s financial markets in a sample of daily data running from October 2006 to December 2022. We control for the impact of international spillover effects of financial stress originating in the European Union (EU), the United Kingdom (UK), and the United States (US), and also for a large number of other important macroeconomic, financial, behavioral variables. Given the large number of predictors, we use random forests, an ensemble machine-learning technique, to trace out the impact of CCPU on financial stress by means of an out-of-sample forecasting experiment. We find that CCPU has predictive value for subsequent financial stress, and that its predictive power is stronger than that of measures of global climate risk. Its predictive value is strongest at a short (daily) forecast horizon and tends to decrease when the length of the forecast horizon increases. Moreover, we document the predictive value of CCPU across a spectrum of conditional quantiles of financial stress. |
| Keywords: | Financial stress, Climate risks, China, Random forests, Forecasting |
| JEL: | C22 C32 C53 G15 Q54 |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:pre:wpaper:202428 |
| By: | François Roubaud (UMR LEDa, DIAL, IRD, CNRS, Université Paris-Dauphine, PSL, Paris, France); Mireille Razafindrakoto (UMR LEDa, DIAL, IRD, CNRS, Université Paris-Dauphine, PSL, Paris, France); Emmanuel Pannier (UMR PALOC, IRD, MNHN, CNRS, Paris, France); Christian Culas (UMR ART-Dev, CNRS, Université Paul-Valéry Montpellier, France); Stéphanie M. Carrière (UMR SENS, IRD, CIRAD, Université Paul-Valéry Montpellier, France) |
| Abstract: | Les Aires protégées (AP) constituent le principal outil de protection sur lequel s’appuie la communauté internationale pour endiguer la dégradation accélérée des écosystèmes et la perte de biodiversité à l’échelle planétaire. Madagascar, considéré comme un hotspot de biodiversité mais également un des pays les plus pauvres du monde, a de longue date fait des AP le principal instrument de sa politique environnementale. Couvrant 13% du territoire, les initiatives se multiplient. S’inscrivant dans cette dynamique de prolifération des AP, cet article interroge les processus et les enjeux qui président à leur mise en place, en s’appuyant sur le cas de l’AP en création du Makay, l’une des plus grandes du pays. Pour ce faire, nous mobilisons trois champs disciplinaires, que nous tentons de faire dialoguer : l’anthropologie du développement, l’économie politique et la critical political ecology. Après avoir posé les éléments de contexte et le cheminement qui a propulsé le massif du Makay du statut de zone rurale isolée et méconnue à celui de site globalisé, nous examinons les arguments mobilisés pour justifier la création de l’AP et comment ces justifications sont construites. Trois arguments-clés sont mis en avant par les promoteurs: la richesse et l’originalité de la biodiversité du Makay ; les menaces anthropiques dont il fait l’objet, en particulier les feux déclenchés par les populations ; et enfin la pauvreté qui aggrave la dégradation de l’environnement. Nous montrons que ces arguments ne sont pas fondés empiriquement. Néanmoins, ils s’imposent et le processus de mise en protection est lancé. Ce qui prime in fine ce sont les positions, les logiques, les motivations, les intérêts et les idéologies des acteurs dominants au détriment des connaissances scientifiques, des enjeux locaux et des populations, généralement négligées. Si le cas d’étude du Makay est spécifique, il a une portée plus large en reflétant une dynamique générale. Nos analyses nous conduisent à esquisser les principes d’un dispositif générique de connaissance, suivi et évaluation qui permettrait de poser un diagnostic empiriquement fondé sur la situation socio-économique et environnementale d’une zone donnée, et par là d’appuyer (ou non) la décision de créer une AP. Protected Areas (PAs) are the main protection tool used by the international community to stem the accelerated degradation of ecosystems and the loss of biodiversity worldwide. Madagascar, considered a biodiversity hotspot but also one of the poorest countries in the world, has long made PAs the main instrument of its environmental policy. Covering 13% of the country, initiatives are expanding. Against this backdrop of proliferating PAs, this article looks at the processes and issues involved in setting them up, based on the case of the Makay PA in creation, one of the largest in the country. We mobilise three disciplinary fields, which we attempt to bring into dialogue: development anthropology, political economy, and critical political ecology. After setting out the context and the path which propelled the Makay massif from the status of an isolated and little-known rural area to that of a globalised site, we examine the arguments used to justify the creation of the PA and how these justifications are constructed. Three key arguments are put forward by the promoters: the richness and originality of the Makay's biodiversity; the anthropogenic threats to which it is subject, in particular the fires set by local people; and finally, poverty which is seen as a factor exacerbating environmental degradation. We show that these arguments have no empirical basis. Nevertheless, they are not questioned and the PA implementation process has been launched. Ultimately, the dominant players' positions, logic, motivations, interests, and ideologies take precedence, to the detriment of scientific knowledge, local issues, and local populations, which are generally neglected. Although the Makay case study is specific, it has a broader scope in that it reflects a general dynamic. Our analyses have led us to outline the principles of a generic knowledge, monitoring and assessment system that would enable an empirically-based diagnosis of the socio-economic and environmental situation in a given area, and thereby support (or not) the decision to create a PA. |
| Keywords: | Protected Area, Developmentalist Configuration, Conservation and Développement, Monitoring and Evaluation System, Madagascar, Makay |
| JEL: | P48 Q57 |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:dia:wpaper:dt202406 |
| By: | Julien JACOB; Antoine LEBLOIS; Marielle BRUNETTE |
| Abstract: | Storm is among the main threat for European forestry generating huge economic damage. The decrease of the timber price due to the storm occurrence largely contributes to these economic impacts. Timber storage appears as the standard policy to implement in order to limit these negative impacts. Consequently, in this article, we propose a global economic assessment of a storage policy taking into account the impacts on producers, consumers and the cost of public funds. For that purpose, we develop a tractable theoretical model which assesses welfare losses and gains incurred/earned by all agents of the society (forester (supply), consumers (downstream agents), and the public agent), from the storage. The model is then simulated. Our results show that globally, the storage policy is always desirable except for the consumers in the case of storms associated with a low magnitude. |
| Keywords: | risk, price, forest, storage. |
| JEL: | D81 Q23 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ulp:sbbeta:2024-27 |
| By: | Alessandro Bitetto (University of Pavia); Paola Cerchiello (University of Pavia) |
| Abstract: | Initial Coin Offerings (ICOs) have emerged as a novel way of start-up funding based on blockchain technology and this paper aims to explain the nexus between ICOs business purposes and underpricing, i.e. when the price of the offered token is lower than the one traded on the market. In particular, we focus on the impact of the Environmental, Social and Governance (ESG) pillars on the ICOs' underpricing. Therefore, we built up a wide and comprehensive dataset comprising $\sim8000$ ICOs spanning from 2015 through 2023, containing both technical and financial information. Moreover, we assessed an ESG score using AI-based textual analysis performed over the whitepapers. The main results show that a higher ESG orientation leads to less underpricing, especially in the early trading days. Our findings may represent a useful support to an enhanced and reliable decision-making process. |
| Keywords: | Initial coin offering (ICO), ESG, Text analysis, Underpricing. |
| Date: | 2024–07 |
| URL: | https://d.repec.org/n?u=RePEc:pav:demwpp:demwp0221 |
| By: | Kaur, S.; Pollitt, M. G. |
| Abstract: | The policy of free electricity since 1997 is hugely popular with farmers in Punjab who are its biggest beneficiaries. Successive Governments have either lacked the courage or willingness to pursue market oriented electricity sector reforms even though the adverse con-sequences are increasingly visible. Over the past few decades, experts have expressed concern over the rapidly receding level of the water table and forecast of desertification, as well as the financial burden on the electricity distribution utility and government. Withdrawing free electricity and charging a price for electricity is a huge challenge. This research aims to estimate willingness to pay (WTP) for electricity and consider preferences for an annual free electricity limit with reward for meter installation and a novel incentive-penalty scheme designed to reward low consumption and discourage over-consumption. A discrete choice experiment assuming random probit and multinomial logit choice behaviour model is deployed to estimate the model parameters. We find that more than 82% of respondents are willing to accept an entitlement to a free electricity limit – with a reward for consuming less than this – rather than the current policy of free and unmetered electricity. We also find that the WTP for electricity increases with higher entitlements. Considering the WTP alone, the results suggest that increasing the electricity price can be acceptable to farmers. Further research is needed to develop a pricing strategy that considers the inter-relatedness between electricity entitlement, saving incentive and price. |
| Keywords: | Agriculture, energy water nexus, entitlement, incentive, groundwater, irrigation, electricity consumption, paddy, subsidy, electricity pricing, discrete choice, Punjab |
| JEL: | O13 Q1 Q4 Q5 Q12 Q24 Q25 Q28 Q48 Q57 |
| Date: | 2024–06–18 |
| URL: | https://d.repec.org/n?u=RePEc:cam:camdae:2434 |
| By: | Arnone, Massimo; Leogrande, Angelo |
| Abstract: | The competitiveness of financed intermediaries cannot be based exclusively on financial sustainability, i.e. the ability to create profit, but it is also necessary to acquire a transversal vision of sustainability focused on the three ESG dimensions. The paper intends to propose a reflection on the main impacts of the integration of ESG factors on business decisionmaking and operational processes in the financial sector. In this context, we try to understand what role FinTech can play in favor of greater sustainability. Furthermore, through an empirical analysis, some determinants relating to social, environmental, and governance issues are identified which influence the volume of financial resources moved in the factoring market at a European level. Machine learning models are also proposed to estimate the volume. |
| Date: | 2024–06–27 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:753gf |
| By: | Sinaga, Markus |
| Abstract: | West Kalimantan's biological natural resources are plentiful and used by several ethnic groups, including the Dayak Seberuang population. Within Sintang Regency, the Dayak Seberuang, a sub-tribe of the Dayak Iban, have extensive expertise of using natural plants as food. Oral transmission of this information is essential for maintaining biodiversity and local food security. In West Kalimantan, the Dayak Seberuang group uses many wild plants as food sources. This study intends to identify and catalogue these species. In-depth interviews and field observations are part of the descriptive, qualitative research methodology that is being employed. Various varieties of wild plants were identified in the study, such as Etlingera coccinea (tepus), Bambusa spp. (buluh), and Stenochlaena palustris (pakuk miding). |
| Date: | 2024–05–31 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:dbfj2 |
| By: | Federica Daniele; Guido de Blasio; Alessandra Pasquini |
| Abstract: | Local opposition to the installation of renewable energy sources is a potential threat to the energy transition. Local communities tend to oppose the construction of energy plants due to the associated negative externalities (the so-called 'not in my backyard' or NIMBY phenomenon) according to widespread belief, mostly based on anecdotal evidence. Using administrative data on wind turbine installation and electoral outcomes across municipalities located in the South of Italy during 2000-19, we estimate the impact of wind turbines' installation on incumbent regional governments' electoral support during the next elections. Our main findings, derived by a wind-speed based instrumental variable strategy, point in the direction of a mild and not statistically significant electoral backlash for right-wing regional administrations and of a strong and statistically significant positive reinforcement for left-wing regional administrations. Based on our analysis, the hypothesis of an electoral effect of NIMBY type of behavior in connection with the development of wind turbines appears not to be supported by the data. |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2406.03022 |
| By: | Böhl Gutierrez, Mauricio; Vega Araújo, José; Arond, Elisa |
| Abstract: | This policy brief addresses the critical issue of phasing out diesel subsidies in Colombia and underscores the urgent need for coordinated action and strategic planning. The Colombian government views the subsidy phase-out as part of its energy transition strategy, proposing investments in carbon-neutral technologies as a replacement. However, the transport sector - the main consumer of diesel - largely considers these plans inadequate and is sceptical about their feasibility. Subsidies for diesel and gasoline, stemming from the Fuel Price Stabilisation Fund (FEPC), burden the Colombian budget with a significant deficit and threaten Colombia's fiscal sustainability. In 2022, subsides represented 2.5 per cent of the national gross domestic product (GDP). A failed subsidy phase-out could undermine the country's energy transition efforts, potentially leading to national strikes by the transport sector and eroding trust in the government's transformation plan. The brief examines the hurdles for the diesel subsidy phase-out process, with a particular focus on the necessary reforms within the transport sector, scepticism about the government's energy transition plans and the potential negative effects for state-owned enterprise Ecopetrol. Drawing from these insights, the policy brief distils policy recommendations for the short and medium term. In the concluding remarks, it stresses that a failed subsidy phase-out could jeopardise broader energy transition efforts. Recommendations for the national government (see p. 5 for more details): Short term - 1. Re-initiate stakeholder meetings on the phase-out promptly, with the Ministry of Transport taking the lead and involving additional key stakeholders such as clients of the transport sector, the Ministries of Social Prosperity, Environment, and Labour, as well as the National Planning Department. 2. Collaborate with these stakeholders to develop an action plan, incorporating support measures for the transport sector such as improving energy efficiency and coordination between the transport companies. 3. Create specific social programmes aimed at mitigating socioeconomic effects, using the Participatory Guarantee System (SPG) and strengthening the System for the Identification of Potential Beneficiaries of Social Programmes (Sisbén). Medium term - 4. Review the objectives and strategies of national planning documents to accurately reflect the circumstances of self-employed truckers. These should consider reallocating funds from subsidies to supplement the existing Vehicle Fleet Replacement Fund (Fondo de Reposición del Parque Automotor). 5. Restructure the transport sector to enhance resilience and promote investment in sustainability. For instance, explore the model of cooperatives in the Colombian passenger transport sector, which enables truckers to maintain autonomy while mitigating investment risks. 6. Explore strategic partnerships between Colombian and foreign private-sector entities with experiences incorporating sustainable and responsible practices, academia and research institutions, and development agencies that have an interest in the Colombian energy transition process to expedite the transition to more sustainable technologies in the transport sector. |
| Keywords: | Fossil Fuel, Subsidy Phase-Out, Diesel, Energy Transition, Colombia, Transport Sector, Political Economy, Just Transition, Hydrogen, Socioeconomic Effects |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:idospb:299532 |
| By: | M. SUAREZ CASTILLO (CREST); D. BENATIA (HEC Montréal); C. LE THI (OCDE); V. COSTEMALLE (DREES) |
| Abstract: | Cet article étudie les effets différenciés de l'exposition des jeunes enfants à la pollution de l'air sur leur recours à des soins en lien avec les maladies respiratoires, en fonction du niveau de vie des parents et de facteurs de vulnérabilité liés à leur état de santé. Il s'appuie sur un appariement de bases de données administratives françaises, l'EDPSanté. Fondée sur une méthode quasi-expérimentale, cette étude met d'abord en évidence des effets significatifs sur les admissions aux urgences et la délivrance de médicaments contre les maladies respiratoires lors de chocs de pollution de l'air, supposés exogènes car liés à des inversions thermiques. En utilisant une approche de machine learning générique, elle met ensuite en évidence des effets hétérogènes d'un enfant à l'autre : ces effets sur le recours au soin affecteraient principalement 10% des jeunes enfants, caractérisés par une fragilité de leur santé à la naissance et un niveau de vie parental plus faible. Nos résultats indiquent que les politiques localisées de réduction de l'exposition à la pollution de l'air, si elles étaient ciblées prioritairement en fonction de la vulnérabilité particulière de certaines populations, pourraient être plus efficaces. |
| Keywords: | Exposition à la pollution, inégalités environnementales, inférence causale, effets de traitement hétérogènes |
| JEL: | I14 I18 Q53 Q58 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:nse:doctra:2024/10 |
| By: | Riccardo Boffo; Hugh Miller; Gabriel Santos Carneiro; Gürcan Zeren Gülersoy |
| Abstract: | This paper presents a technical assessment of nature-related risks within the Hungarian economy and financial system. The study draws upon the OECD Supervisory Framework to (i) prioritise various nature-related risks by conducting an impact and dependency assessment, identifying key economic sectors, and pinpointing the critical natural capital assets that are most crucial to the financial system; (ii) assess the direct and indirect economic impact of three exploratory scenarios on possible acute nature-related shocks using input-output analysis; (iii) explore the different financial risk channels through which economic risks stemming from nature-related losses may be transmitted within the Hungarian financial system; and (iv) provide supervisory recommendations based on the results. |
| Keywords: | biodiversity, economics, finance and investment, financial materiality, nature, nature-related risks |
| JEL: | C67 E44 E58 G14 G21 H63 Q20 |
| Date: | 2024–06–30 |
| URL: | https://d.repec.org/n?u=RePEc:oec:envaaa:243-en |
| By: | Ahsanuzzaman,; Eskander, Shaikh; Islam, Asad; Wang, Liang Choon |
| Abstract: | We use a randomized controlled trial in Bangladesh to test three types of non-price energy conservation strategies that influence electricity consumption of households: (i) advice on electricity conservation methods (knowledge treatment); (ii) (median) electricity consumption of others in the suburb (suburb comparison); and (iii) (median) electricity consumption of neighbors (neighbor comparison). We find that providing advice on saving energy could reduce households' electricity consumption and bills significantly. The effects are stronger for advice on electricity conservation methods than neighbor and suburb comparisons. The effects of providing information about own electricity consumption relative to neighbors’ electricity consumption is similar to the effects of giving information about own electricity consumption relative to electricity consumption of households in the same suburb. The effects among households who were inefficient users in neighbor and suburb comparison groups are almost as strong as those in the knowledge treatment group. The effects across all treatment groups become stronger over time as they receive repeated information. |
| Keywords: | electricity consumption; energy efficiency; field experiment; non-price information; social norms |
| JEL: | J1 |
| Date: | 2024–09–01 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:123900 |
| By: | Dencker, Anna Carina; Röhl, André |
| Abstract: | Angesichts der Zunahme von Krisen, wie Naturkatastrophen und Pandemien, ist die gesellschaftliche Resilienz von entscheidender Bedeutung. Eine internetgestützte Befragung, an der 109 Personen teilnahmen, zeigte, dass die Bevölkerung hohe Erwartungen an die Kompetenzen der Einsatzkräfte im Alltag und in Katastrophen hat. Dabei wurden Unterschiede in der Bewertung von Feuerwehr, Rettungsdienst und Polizei deutlich. Die Studie unterstreicht die Notwendigkeit einer besseren Vorbereitung und Schulung der Bevölkerung zur Stärkung der Resilienz. |
| Abstract: | In light of the increasing frequency of crises such as natural disasters and pandemics, societal resilience is of critical importance. An internet-based survey involving 109 participants revealed that the public has high expectations for the competencies of emergency responders in daily life and in disaster situations. Clear differences in the evaluation of the fire service, ambulance services, and police were observed. The study emphasizes the need for better preparation and training of the public to enhance resilience. |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:nbswps:300109 |