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on Environmental Economics |
| By: | Spillane, Charles; Chekol, Dawit Alemayehu; Hoang, Ky; Plazas, Carlos Andrés Rodríguez; Ssekandi, Shamilah Nassozi; Tessema, Yared Mesfin; Varley, Ciara; McLaughlin, Isabel; Mashizha, Tinashe; Lorente, Anna |
| Abstract: | The Intergovernmental Panel on Climate Change (IPCC) is preparing a new IPCC Special Report on Climate Change and Cities, which will address issues of climate mitigation, adaptation and just transitions in cities and urban systems. In this context, accelerating the sustainable transitions of the diets and food systems of cities is critical to ensuring that the planet remains within key planetary boundaries, including the 1.5 C limit for global warming. The EU/IFAD EcoFoodSystems project [https://ecofoodsystems.org/] is focused on research to enable food systems transitions in city regions that can deliver diets that are more sustainable, healthy and affordable. The EcoFoodSystems project is working with stakeholders in Vietnam (Hanoi), Ethiopia (Addis Ababa) and Colombia (Cali) to conduct research to enable accelerated transitions towards more sustainable, healthy and affordable diets. To contribute to the process for developing the new IPCC Special Report on Climate Change and Cities, the EU/IFAD funded EcoFoodSystems project provides the following initial guidance and inputs to the scoping process for the IPCC Special Report on Climate Change and Cities. |
| Date: | 2024–06–30 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:hqgu8 |
| By: | Srdelic, Leonarda; Barisic, Radoslav |
| Abstract: | This paper investigates the existence of sector-specific Environmental Kuznets Curves (EKC) in Croatia from 1995 to 2021. Using Autoregressive Distributed Lag (ARDL) and Error Correction Models (ECM), the relationship between greenhouse gas (GHG) emissions and Gross Domestic Product (GDP) is analysed across key climate-policy relevant sectors (CPRS). A stable long-term relationship with significant short-term adjustments was found in the energy-intensive sector, which is regulated under the European Union Emissions Trading System (EU ETS). Long-term cointegration, but with non-significant short-term adjustments, was observed in the buildings, transportation, and utility/electricity sectors. Among sectors with a significant long-term relationship, an inverted U-shaped Environmental Kuznets Curve (EKC)—where emissions initially rise and then, after reaching a certain GDP threshold, decline—was identified in the buildings and energy-intensive sectors. In contrast, a U-shaped relationship was found in the utility/electricity sector, where emissions initially decrease but start to increase again as GDP grows. The transportation sector shows a positive linear relationship with GDP, with emissions rising consistently with economic growth, highlighting the need for targeted interventions like carbon pricing. Conversely, the fossil fuel sector shows no significant GDP-emissions relationship, pointing to external factors like geopolitical risks as primary influences. |
| Keywords: | Environmental Kuznets Curve (EKC), greenhouse gas emissions (GHG), climate- policy relevant sectors (CPRS), European Union Emissions Trading System (EU ETS), Croatia. |
| JEL: | O11 Q53 Q56 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:122841 |
| By: | Nidhaleddine Ben Cheikh (ESSCA School of Management); Christophe Rault (University of Orléans) |
| Abstract: | Although financial inclusion would induce greater pollutant emissions through economic activity, improved access to financial services may facilitate investment in clean technologies. This study investigates whether financial inclusion has influenced the dynamics of carbon dioxide (CO2) emissions over the last decade using a sample of 70 countries. We implement panel threshold techniques to explore possible regime shifts in environmental quality. Our results reveal that the influence of increased financial access on air pollution depends on the economic development stage. While financial inclusion can increase CO2 emissions in lower-income regimes, environmental quality appears to be enhanced, with more inclusiveness at later developmental stages. Less-developed countries require more robust environmental policies to align their financial inclusion initiatives with sustainable economic development. |
| Date: | 2024–08–20 |
| URL: | https://d.repec.org/n?u=RePEc:erg:wpaper:1713 |
| By: | Elias Danyi Kuusaana |
| Abstract: | Unpacking how climate change exacerbates rather than causes farmer-herder conflicts requires a comprehensive understanding of the mechanisms of influence. This study seeks to document the circumstances under which climate change influences farmer-herder conflicts, adaptation practices, and peacebuilding approaches towards co-existence. The political ecology analytical approach was used to synthesise the different socio-political and ecological implications of reconciling the socio-cultural narratives with the agroecological factors of farmer- herder conflicts. The study found that climate change influences farmer-herder conflicts through changes in weather, food and water availability, mobility patterns, and the spread of diseases, pushing herders to adapt strategies that set the pace for farmer-herder conflicts. These adaptations include seasonal migration across complementary ecological zones along the frontiers of farmlands and grazing at night that tends to vandalise farms. The results build on the ongoing argument that climate change would rather exacerbate pre-existing tensions than being a direct cause of climate change. Both Fulani herders and farmers expressed willingness to coexist as they employed varied peacebuilding mechanisms to settle disputes. The above findings have implications for the ongoing national policy dialogue on reducing farmer-herder conflicts in Ghana as they inform discussions on socially acceptable ways of addressing them. |
| Keywords: | Climate Change; farmer-herder conflict; Ghana; Land; resource conflicts |
| JEL: | R3 |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:afr:wpaper:afres2024-008 |
| By: | Bucoy, Abigail Irene; Moreno, Frede |
| Abstract: | This study evaluates the efficacy of Community-Based Tourism (CBT) as a strategic public administration initiative for sustainable development in Zamboanga City, Philippines. Employing a mixed-methods approach, the research combines quantitative surveys and economic assessments with qualitative interviews and focus groups to examine the impacts of CBT on local governance, economic growth, environmental sustainability, and social cohesion. Four case studies of CBT initiatives—Fiesta and Cultural Tourism, Eco-Tourism Project, Heritage Tourism Initiative, and Rural Tourism Development—provide a detailed analysis of their diverse implementations and outcomes. The findings reveal that CBT initiatives significantly enhance local governance by fostering community participation and transparency, in line with New Public Governance principles. Economically, these initiatives contribute to income generation, job creation, and local business development, though benefits are unevenly distributed. Environmentally, CBT promotes conservation and sustainable resource management but faces challenges such as waste management. Socially, CBT strengthens community cohesion and cultural preservation but requires ongoing efforts to address social disparities. The study's theoretical implications advance understanding of how CBT can operationalize governance principles and support sustainable development. It concludes with recommendations for policy and future research to optimize CBT’s benefits, suggesting that with strategic adaptations, CBT can be a valuable tool for sustainable development in diverse contexts. |
| Keywords: | Community-Based Tourism (CBT), Sustainable Development, Local Governance, Economic Development, Environmental Sustainability, Social Cohesion |
| JEL: | A1 H4 H7 M0 M1 M3 N5 N55 N8 N85 Q2 Q5 Z0 Z1 |
| Date: | 2024–11–27 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:122798 |
| By: | Dayoro, Donatien |
| Abstract: | This study develops a hybrid model to integrate climate risks into Côte d'Ivoire’s economic policy, drawing on the work of economists like Keynes, Ostrom, Stiglitz, Sen, and Nordhaus. The model combines decentralized governance, climate risk externalities, and capacity building to address the country's vulnerability to extreme weather events. It advocates for collaboration at all levels of governance, integrates climate risks into economic decisions, and focuses on reducing social vulnerabilities. By incorporating climate-economic models like DICE, it offers a framework to safeguard economic stability and promote sustainable growth in the face of climate change. |
| Keywords: | Hybrid Model, Climate Risks, Economic Policy, Côte d'Ivoire, Theoretical Approach, Risk Management, Sustainable Development, Governance, Climate Change Impact, Budgetary Stability, Macroeconomic Analysis, Vulnerability Reduction, Climate-Economy Integration, Adaptive Strategies, Economic Forecasting. |
| JEL: | B41 C32 C33 C4 C44 C61 C63 O4 Q5 Q51 Q54 Q58 |
| Date: | 2024–11–29 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:122877 |
| By: | Bateman, Ian J.; Binner, Amy; Addicott, Ethan T.; Balmford, Ben; Cho, Frankie H.T.; Daily, Gretchen C.; De-Gol, Anthony; Eisenbarth, Sabrina; Faccioli, Michela; Ferguson-Gow, Henry; Ferrini, Silvia; Fezzi, Carlo; Gannon, Kate; Groom, Ben; Harper, Anna B.; Harwood, Amii; Hillier, Jon; Hulme, Mark F.; Lee, Christopher F.; Liuzzo, Lorena; Lovett, Andrew; Mancini, Mattia C.; Matthews, Robert; Morison, James I.L.; Owen, Nathan; Pearson, Richard G.; Polasky, Stephen; Siriwardena, Gavin; Smith, Pete; Snowdon, Pat Pat; Tippett, Peter; Vetter, Sylvia H.; Vinjili, Shailaja; Vossler, Christian A.; Watson, Robert T.; Williamson, Daniel; Day, Brett H. |
| Abstract: | Land use change is crucial to addressing the existential threats of climate change and biodiversity loss while enhancing food security [M. Zurek et al., Science376, 1416-1421 (2022)]. The interconnected and spatially varying nature of the impacts of land use change means that these challenges must be addressed simultaneously [H.-O. Pörtner et al., Science380, eabl4881 (2023)]. However, governments commonly focus on single issues, incentivizing land use change via "Flat-Rate" subsidies offering constant per hectare payments, uptake of which is determined by the economic circumstances of landowners rather than the integrated environmental outcomes that will be delivered [G. Q. Bull et al., Forest Policy Econ.9, 13-31 (2006)]. Here, we compare Flat-Rate subsidies to two alternatives: "Land Use Scenario" allocation of subsidies through consultation across stakeholders and interested parties; and a "Natural Capital" approach which targets subsidies according to expected ecosystem service response. This comparison is achieved by developing a comprehensive decision support system, integrating new and existing natural, physical, and economic science models to quantify environmental, agricultural, and economic outcomes. Applying this system to the United Kingdom's net zero commitment to increase carbon storage via afforestation, we show that the three approaches result in significantly different outcomes in terms of where planting occurs, their environmental consequences, and economic costs and benefits. The Flat-Rate approach actually increases net carbon emissions while Land Use Scenario allocation yields poor economic outcomes. The Natural Capital targeted approach outperforms both alternatives, providing the highest possible social values while satisfying net zero commitments. |
| Keywords: | biodiversity; climate change; decision-making; land use; natural capital |
| JEL: | R14 J01 |
| Date: | 2024–12–03 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:126171 |
| By: | Abena Tweneboah Danso; Emmanuel Kofi Gavu; Kwabena Obeng Asiamah |
| Abstract: | Sustainability defines the ability to preserve an object, result or development over time while making sure the resources that are the bedrock of the object are not depleted. In response to the international call for action on the need to reduce global greenhouse gas (GHG) emissions, forums were organised including the 2015 Paris Agreement with a long-term ambition of keeping the global temperature below 2°C and towards 1.5°C. Numerous sustainability and certification assessment tools have been launched to measure the efficiency and carbon emissions of buildings. They include Building Research Establishment Environmental Assessment Method (BREEAM), Leadership in Energy and Environmental Design (LEED), Comprehensive Assessment System for Building Environmental Efficiency (CASBEE) and Excellence in Design for Greater Efficiency (EDGE). EDGE was employed to measure the sustainability and Paris alignment of 3 purposively selected buildings in an institution of Higher learning, KNUST. The findings suggest that none of the new buildings completely passed the EDGE standards, and all 3 buildings passed 2 out of the 3 main sustainability assessment metrics. The findings, however, indicate that a heightened awareness of sustainability principles has positively impacted post-Paris buildings constructed at KNUST. As a key recommendation, the research proposes that vegetated components such as green roofs, green facades and green interior walls can be integrated into buildings in higher learning institutions to aid in reducing carbon emissions and cooling off buildings. |
| Keywords: | EDGE; institutions of higher learning; Paris Agreement; sustainability |
| JEL: | R3 |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:afr:wpaper:2024-019 |
| By: | Adam Masotya; Prisca Simbanegavi; Malcolm Weaich; Yewande Adewunmi; Pride Ndlovu; Faranani Gethe |
| Abstract: | This study compares occupant satisfaction in green versus conventional residential real estate in South Africa. It investigates the benefits and satisfaction levels related to green developments, particularly in terms of energy savings and socio-economic impacts. The research aimed to determine if there is a significant difference in occupant satisfaction between green and conventional residential developments. A quantitative approach was employed, utilizing stratified random sampling to survey 160 occupants from two developments: Crossberry Central (green) and Little Manhattan (conventional). Data was analysed using the Mann-Whitney U and Wilcoxon W tests due to non- normal data distribution. The findings indicate that occupants of green developments report significantly higher satisfaction levels. Key areas of satisfaction include air quality, utility savings, and environmental benefits. Green developments demonstrate higher levels of satisfaction regarding reduced utility bills, improved indoor air quality, and contributions to environmental conservation. The study concludes that green residential developments significantly enhance occupant satisfaction compared to conventional housing. This suggests a socio-cultural shift towards valuing sustainable living environments, emphasising the importance of promoting green building practices to improve both environmental and occupant well-being. |
| Keywords: | Green Buildings; occupant satisfaction; residential developments; South Africa |
| JEL: | R3 |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:afr:wpaper:2024-044 |
| By: | Elias Danyi Kuusaana |
| Abstract: | Unpacking how climate change exacerbates rather than causes farmer-herder conflicts requires a comprehensive understanding of the mechanisms of influence. This study seeks to document the circumstances under which climate change influences farmer-herder conflicts, adaptation practices, and peacebuilding approaches towards co-existence. The political ecology analytical approach was used to synthesise the different socio-political and ecological implications of reconciling the socio-cultural narratives with the agroecological factors of farmer- herder conflicts. The study found that climate change influences farmer-herder conflicts through changes in weather, food and water availability, mobility patterns, and the spread of diseases, pushing herders to adapt strategies that set the pace for farmer-herder conflicts. These adaptations include seasonal migration across complementary ecological zones along the frontiers of farmlands and grazing at night that tends to vandalise farms. The results build on the ongoing argument that climate change would rather exacerbate pre-existing tensions than being a direct cause of climate change. Both Fulani herders and farmers expressed willingness to coexist as they employed varied peacebuilding mechanisms to settle disputes. The above findings have implications for the ongoing national policy dialogue on reducing farmer-herder conflicts in Ghana as they inform discussions on socially acceptable ways of addressing them. |
| Keywords: | Climate Change; farmer-herder conflict; Ghana; Land; resource conflicts |
| JEL: | R3 |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:afr:wpaper:2024-008 |
| By: | Abena Tweneboah Danso; Emmanuel Kofi Gavu; Kwabena Obeng Asiamah |
| Abstract: | Sustainability defines the ability to preserve an object, result or development over time while making sure the resources that are the bedrock of the object are not depleted. In response to the international call for action on the need to reduce global greenhouse gas (GHG) emissions, forums were organised including the 2015 Paris Agreement with a long-term ambition of keeping the global temperature below 2°C and towards 1.5°C. Numerous sustainability and certification assessment tools have been launched to measure the efficiency and carbon emissions of buildings. They include Building Research Establishment Environmental Assessment Method (BREEAM), Leadership in Energy and Environmental Design (LEED), Comprehensive Assessment System for Building Environmental Efficiency (CASBEE) and Excellence in Design for Greater Efficiency (EDGE). EDGE was employed to measure the sustainability and Paris alignment of 3 purposively selected buildings in an institution of Higher learning, KNUST. The findings suggest that none of the new buildings completely passed the EDGE standards, and all 3 buildings passed 2 out of the 3 main sustainability assessment metrics. The findings, however, indicate that a heightened awareness of sustainability principles has positively impacted post-Paris buildings constructed at KNUST. As a key recommendation, the research proposes that vegetated components such as green roofs, green facades and green interior walls can be integrated into buildings in higher learning institutions to aid in reducing carbon emissions and cooling off buildings. |
| Keywords: | EDGE; institutions of higher learning; Paris Agreement; sustainability |
| JEL: | R3 |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:afr:wpaper:afres2024-019 |
| By: | Otrachshenko, Vladimir (National Bank of Slovakia (NBS)); Popova, Olga (Leibniz Institute for East and Southeast European Studies (IOS)) |
| Abstract: | This paper contributes to a better understanding of the drivers of electoral support for Green parties and the environmental actions they promote, which is key to ensuring the long-term feasibility of environmental policies. We examine whether individual environmental preferences translate into voting for Green parties and analyze the mechanisms behind this effect. Employing an individual-level survey from developed and developing economies matched with the political parties' programs globally, we find that individuals who prefer environmental protection over economic growth are likely to translate their preferences into voting and supporting Green parties. These findings are robust to alternative definitions of Green parties and environmental preferences and to potential endogeneity concerns. The key mechanisms behind this relationship are changes in the stringency of environmental regulations, individual economic and social insecurity, and individual- and country-level exposure to environmental changes. The effect of environmental preferences on Green party voting is less pronounced among individuals living in rural areas and economically disadvantaged individuals, including those with lower education and income. These results suggest that support for Green parties and environmental policies is contingent on voters' economic security even when environmental preferences are strong, emphasizing the need for Green parties to address voters' economic concerns. |
| Keywords: | environmental preferences, Green parties, sustainable development, voting |
| JEL: | D72 H11 Q56 Q58 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp17475 |
| By: | Santiapichi, Giulio; Akcija, Zelena |
| Abstract: | This paper examines the dynamics of EU Environmental policy enforcement and the issue of ensuring compliance from foreign companies operating in the EU's waste management sector. The analysis will discuss the impact of China's 2017 ban on importing plastic waste for the EU, particularly looking at its implications for the EU waste management sector. The paper will suggest that China's ban ultimately dismantled the EU waste management framework, forcing it to begin treating low-quality plastics domestically. Through highlighting inconsistencies in the EU's environmental regulations, the study will suggest that the current domestic treatment of low-quality plastics in the EU has triggered instances of environmental and health damage to vulnerable local communities. The case study of Phaten Plastic recycling will underscore a critical instance of non-compliance to EU Environmental standards, yet this will serve to outline regulatory issues with ensuring that waste management companies comply with the EU’s environmental regulations. The paper will ultimately advocate for the need of a more robust EU accountability framework, in order to deter waste management companies from causing environmental damage to local environments and communities and adhere to Eu environmental standards. |
| Date: | 2024–11–29 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:x8jyz |
| By: | Hauer, Mathew; Hardy, Dean (University of Maryland College Park); Zagheni, Emilio; Jorgenson, Andrew |
| Abstract: | Rarely are those most impacted by climate change the same as those most responsible for global carbon emissions. Assignment of responsibility for carbon emissions typically differentiates emissions across space and time but not birth cohort. Including young birth cohorts complicates assessments as they have yet to emit as much as older cohorts. Using formal demographic methods, we develop an approach to estimate carbon emissions across space, across time, and across the life course, creating a unified carbon emissions identity, comparable to other well-known carbon identities. We estimate the birth cohorts born between 1850 and 2020 with the highest lifetime carbon emissions. We show that globally, cohorts born between 1970 and 1990 have the highest lifetime emissions under a moderate carbon emissions pathway and those born since 2000 under a high emissions pathway. Our results suggest that carbon emissions pathways play the strongest role in determining which cohorts will be associated with the highest lifetime carbon emissions, with lower pathways suggesting earlier cohorts and higher pathways suggesting later cohorts. |
| Date: | 2024–12–07 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:pv2n5 |
| By: | Adam Masotya; Prisca Simbanegavi; Malcolm Weaich; Yewande Adewunmi; Pride Ndlovu; Faranani Gethe |
| Abstract: | This study compares occupant satisfaction in green versus conventional residential real estate in South Africa. It investigates the benefits and satisfaction levels related to green developments, particularly in terms of energy savings and socio-economic impacts. The research aimed to determine if there is a significant difference in occupant satisfaction between green and conventional residential developments. A quantitative approach was employed, utilizing stratified random sampling to survey 160 occupants from two developments: Crossberry Central (green) and Little Manhattan (conventional). Data was analysed using the Mann-Whitney U and Wilcoxon W tests due to non- normal data distribution. The findings indicate that occupants of green developments report significantly higher satisfaction levels. Key areas of satisfaction include air quality, utility savings, and environmental benefits. Green developments demonstrate higher levels of satisfaction regarding reduced utility bills, improved indoor air quality, and contributions to environmental conservation. The study concludes that green residential developments significantly enhance occupant satisfaction compared to conventional housing. This suggests a socio-cultural shift towards valuing sustainable living environments, emphasising the importance of promoting green building practices to improve both environmental and occupant well-being. |
| Keywords: | Green Buildings; occupant satisfaction; residential developments; South Africa |
| JEL: | R3 |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:afr:wpaper:afres2024-044 |
| By: | Poudel, Sandeep; Elliott, Rebecca; Anyah, Richard; Grabowski, Zbigniew; Knighton, James |
| Abstract: | Communities respond to flooding events based upon risk perceptions and available adaptive behaviors (e.g., emigrating, purchasing insurance, constructing levees). Across the United States, sea level rise, intensifying storm-surges, and extreme rainfall may alter human-flood dynamics. Here, we use calibrated Socio-Environmental models of contiguous US coastal census tracts and two shared socio-economic pathways (SSP245 and SSP585). We project that by 2100, total flood insurance claims will increase by +25% to +130% under low (SSP245) and high (SSP585) emissions scenarios, respectively. The increase in flood insurance claims will impact mainly socially vulnerable communities. Further, we project that active NFIP policies will increase from +30% under low emission scenario to +60% under high emission scenario. Our finding also suggests the growing debt of the National Flood Insurance Program under higher emissions. Raising the water elevation threshold for coastal flooding by +1 meter via levees may reduce future surge-related losses by 95% and 40% under low and high emission scenarios and stabilize housing markets. Our future projections of flood insurance claims, policy coverage, and the impact of water elevation serve as credible hypotheses for the evolution of human flood dynamics under climate change. They can inform national flood policy and future research. |
| Keywords: | socio-environmental modeling; US National Flood Insurance Program; social vulnerability; home values; flooding |
| JEL: | R14 J01 |
| Date: | 2024–11–07 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:125933 |
| By: | Natalia Turdyeva (Bank of Russia, Russian Federation) |
| Abstract: | We are considering the introduction of climate policy in Russia under conditions of quantitative export restrictions. We have enhanced the model employed in the article (Burova et al., 2023) by incorporating a mechanism for quantitative trade restrictions. We demonstrate that in the case of deterioration in external economic conditions, such as a decline in the prices of Russian exports, the significance of quantitative export restrictions becomes secondary. The reason is that at low export prices the optimal physical volume of exports only marginally exceeds or may even be less than the quantitative restrictions. Without unrestricted access to global green technologies, ambitious climate policy goals may become excessively costly in terms of economic impact. In the presented model, attempting to achieve a 70% reduction in CO2-equivalent emissions from the 2016 level, coupled with decreasing prices for Russian exports and quantitative trade restrictions, could result in a deviation of GDP in 2040 by 11% from the baseline scenario, which implies maintaining the current status quo in climate policy both in Russia and globally. A more economically viable approach seems to be a moderate climate policy: achieving a 36% reduction in emissions from combustion compared to the 2016 level results in a 4.7% downward deviation of real GDP in 2040 from the baseline scenario. Only 0.3% of this decrease is attributed to the impact of domestic climate policy through an emissions trading system. The remaining 4.4% is explained by the deterioration of external economic conditions, stemming from the climate policies of other countries and quantitative restrictions on Russian exports. In the absence of a proactive climate policy, the carbon intensity of Russian GDP rises, amplifying transitional and physical risks of addressing the consequences of climate change. Essential measures to mitigate these risks involve the promotion and development of green industries, particularly those oriented towards exports. |
| Keywords: | Russia, climate policy, NGFS scenarios, export restrictions, CGE, emissions trading, ETS |
| JEL: | C68 F13 Q52 Q54 Q58 |
| Date: | 2024–02 |
| URL: | https://d.repec.org/n?u=RePEc:bkr:wpaper:wps125 |
| By: | Alfonso Medinilla; Afaf Zarkik; Larabi Jaïdi |
| Abstract: | This paper was originally published on ecdpm.org COP27 reached a breakthrough agreement on a new loss and damage fund for vulnerable countries and opened the door for a review of the international financial architecture. Ahead of COP28 at the end of 2023, the AU-EU partnership can help drive global climate change and energy transition agendas forward. A fruitful collaboration between the two continents starts with the following: • Africa and Europe must find common ground to maximise the benefits and minimise the costs of combating climate change and the green transition. Both must move from dogmatic positions on renewable energy and fossil fuels to focus on green transition business opportunities. • Both continents must acknowledge, address and alleviate tensions between Europe and Africa over decarbonisation. Failure to do so will slow the progress of promoting a just energy transition in Africa. • African and European representatives should avoid the trap of ‘policy signalling’ or ideal-type solutions but focus on delivering rapid results on climate finance, energy and industrialisation, as well as communicating more effectively on their progress. |
| Date: | 2023–09 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:pbcoen:pbnn_34 |
| By: | Marcelle Chauvet; Claudio Morana; Murilo Silva |
| Abstract: | This paper investigates the linkage between deteriorating extreme weather conditions and anthropogenic GHG emissions and their economic impact on 40 European countries. The analysis employs the European Extreme Events Climate Index (E3CI) and its seven subcomponents, i.e., extreme maximum and minimum temperatures, wind speed, precipitation, droughts, wildÂ…res, and hail. Using an innovative panel regression-based trend-cycle decomposition approach, we Â…nd support for the contribution of human-made GHG emissions to the deterioration of underlying extreme weather conditions and their highly nonlinear pattern. We then conduct a Growth-at-Risk analysis within a quantile panel regression framework to assess the economic implications of our Â…ndings. We show that deteriorating extreme weather conditions, as measured by the E3CI index, negatively impact the entire GDP growth rate distribution. Yet the impact on the downside risk to growth is much more substantial than the upside risk. This result holds for various E3CI components, such as rising extreme maximum temperature, wind speed, drought, and wildÂ…res. |
| Keywords: | climate change, extreme weather events, global warming, GHG emissions, trend-cycle decomposition, Growth-at-Risk, panel quantile regressions, Europe |
| JEL: | C21 C23 Q51 Q54 |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:mib:wpaper:547 |
| By: | Khondaker Golam Moazzem; Helen Mashiyat Preoty; Mashfiq Ahsan Hridoy |
| Abstract: | The Integrated Energy and Power Master Plan (IEPMP) 2023 lays out the plan to adapt hydrogen and ammonia along with carbon capture units and nuclear as clean energy and attain the 40 per cent clean energy goal by 2041. Such technologies are comparatively new and the efficiency level of reducing emissions has not been tested appropriately. |
| Keywords: | Clean Energy, IEPMP, Power and Energy Sector, Renewable energy, Bangladesh |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:pdb:opaper:154 |
| By: | Hege, Ulrich; Li, Kai; Zhang, Yifei |
| Abstract: | We study the effect of climate-related innovation on carbon emissions by analyzing supply chain networks. We find that climate innovation reduces carbon emissions at customer firms, driven by product innovations. The effect is economically significant, dominated by the most emission-intensive customer firms, gradually increases over a five-year horizon, and is significant for Scope 1 and Scope 2 emissions. We then look at the diffusion of climate innovation to new customers. We find that customers ex-hibit a strong preference for suppliers with new climate patents, that climate patents allow suppliers to attract new customers, especially customers with high environmental ratings or a large carbon footprint, and that these new customers subsequently also reduce their emissions. We use the quasi-random assignment of patent examiners and the exogenous technological obsolescence of climate patents as instruments to suggest a causal interpretation of the main findings. |
| Keywords: | climate innovation; supply chains; new customer firms; business stealing; carbon emissions; environmental scores; patent examiner leniency; technology obsoles-cence. |
| JEL: | L14 O31 O33 Q54 Q55 |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:tse:wpaper:130108 |
| By: | Elias Hasler |
| Abstract: | This paper explores the global economic and climate spillovers of the European Union Emissions Trading System (EU ETS), leveraging exogenous variations in carbon prices identified through a carbon policy surprise series. Findings reveal that higher EU carbon prices lead to significant and sustained reductions in greenhouse gas (GHG) emissions, both within the Euro Area (EA) and globally, with no evidence of carbon leakage. Structural Scenario Analysis confirms that these reductions are driven by energy efficiency improvements rather than solely by declines in industrial production. The results highlight the transmission of the shock trough the Brussels Effect, where EU carbon policies influence global standards, evidenced by stricter carbon policies abroad and shifts in investor behavior favoring green industries. Furthermore no region benefits economically from EU carbon pricing. Overall, the EU ETS proves effective in reducing emissions without being undermined by carbon leakage. |
| Keywords: | Carbon Leakage, Spillovers, Carbon Pricing, Brussels Effect |
| JEL: | E32 F42 F64 Q54 Q58 |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:inn:wpaper:2025-01 |
| By: | Théo Aphecetche |
| Abstract: | This paper examines the fiscal implications of the global transition to climate neutrality, focusing on government expenditures, revenues, and the need for a comprehensive fiscal strategy within country-level transition plans. The paper analyses the impact of climate change and policy responses on public finances, highlighting the potential for decreased public revenues and increased expenditures due to climate-related damages and the implementation of mitigation policies. While carbon pricing strategies can initially boost revenues, their long-term success in reducing emissions may lead to lower fiscal income. The paper explores the necessity of investments to support the economic transformation towards a net-zero emission future and discusses the varying degrees of fiscal impact across different regions and policy mixes. The paper stresses the importance of broadening the tax base and incorporating innovative financing strategies to ensure fiscal sustainability during the transition. Through continuous assessment and international coordination, particularly within the G20, the paper suggests approaches to minimise the fiscal risks associated with a disorderly climate transition and to enhance the effectiveness of climate action for the collective global good. |
| Keywords: | Green Transition, Fiscal Sustainability, Carbon Pricing, Nationally Determined Contributions, Country-level Transition Plans, Climate Mitigation. |
| JEL: | E6 H2 |
| URL: | https://d.repec.org/n?u=RePEc:euf:ecobri:081 |
| By: | Dhruv Suri; Jacques de Chalendar; Ines Azevedo |
| Abstract: | Wind and solar generation constitute an increasing share of electricity supply globally. We find that this leads to shifts in the operational dynamics of thermal power plants. Using fixed effects panel regression across seven major U.S. balancing authorities, we analyze the impact of renewable generation on coal, natural gas combined cycle plants, and natural gas combustion turbines. Wind generation consistently displaces thermal output, while effects from solar vary significantly by region, achieving substantial displacement in areas with high solar penetration such as the California Independent System Operator but limited impacts in coal reliant grids such as the Midcontinent Independent System Operator. Renewable energy sources effectively reduce carbon dioxide emissions in regions with flexible thermal plants, achieving displacement effectiveness as high as one hundred and two percent in the California Independent System Operator and the Electric Reliability Council of Texas. However, in coal heavy areas such as the Midcontinent Independent System Operator and the Pennsylvania New Jersey Maryland Interconnection, inefficiencies from ramping and cycling reduce carbon dioxide displacement to as low as seventeen percent and often lead to elevated nitrogen oxides and sulfur dioxide emissions. These findings underscore the critical role of grid design, fuel mix, and operational flexibility in shaping the emissions benefits of renewables. Targeted interventions, including retrofitting high emitting plants and deploying energy storage, are essential to maximize emissions reductions and support the decarbonization of electricity systems. |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2501.01954 |
| By: | Putri, Schalke Anindya |
| Abstract: | This study investigates Indonesia's green complexity at the provincial level, examining the country's capabilities to produce sophisticated environmental goods while pursuing its 2060 net-zero emissions target. The research uniquely contributes by applying Green Complexity Index (GCI) analysis at the subnational level, revealing critical intra-country differences in green development potential. The study analyzes 493 green products identified from IMF, OECD, and WTO data, categorized into renewable energy, pollution management, clean technologies, and resource management. Trade competitiveness data from WITS and BPS covers 34 Indonesian provinces and 226 countries, using 2022 trade data. The methodology employs Economic Complexity Index (ECI) calculation, Green Complexity Index (GCI) derivation, and Product Distance measurement to assess regional green capabilities and development trajectories. DKI Jakarta leads in green product exports (370 products) and competitive exports (48 products), with a weak positive correlation between ECI and GCI across provinces. While Jawa Barat leads in ECI (1.48), Jakarta tops GCI rankings (13.12). Regional disparities show Kepulauan Riau leading in renewable energy (GCI: 3.05) and clean technologies (GCI: 8.34), while Jakarta dominates pollution management (GCI: 4.53). The study reveals substantial regional variations in green complexity across Indonesian provinces, concentrated in developed regions. The findings suggest the need for province-specific strategies, knowledge transfer mechanisms, and innovative green finance solutions to promote sustainable development. |
| Keywords: | Green Complexity Index, Economic Complexity, Product Distance, Regional Development |
| JEL: | Q56 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:123139 |
| By: | Michael D. Bauer; Eric A. Offner; Glenn D. Rudebusch |
| Abstract: | Policymakers and researchers worry that the low-carbon transition may be inadvertently delayed by higher global interest rates. To examine whether green investment is especially sensitive to interest rate increases, we consider the effect of unanticipated monetary policy changes on the equity prices of green and brown European firms. We find that brown firms, measured in terms of carbon emission levels or intensities, are more negatively affected than green firms by tighter monetary policy. This heterogeneity is robust to different monetary policy surprises, emission measures, econometric methods, and sample periods, and it is not explained by other firm characteristics. This evidence suggests that higher interest rates may not skew investment away from a sustainable transition. |
| Keywords: | monetary transmission, carbon premium, ESG, climate finance |
| JEL: | E52 G14 Q54 Q58 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11552 |
| By: | Michael Bauer; Daniel Huber; Eric Offner; Marlene Renkel; Ole Wilms; Michael D. Bauer |
| Abstract: | We identify corporate commitments for reductions of greenhouse gas emissions—green pledges—from news articles using a large language model. About 8% of U.S. firms have made green pledges, and these companies tend to be larger and browner than those without pledges. Announcements of green pledges significantly and persistently raise stock prices, consistent with reductions in the carbon premium. Firms that make green pledges subsequently reduce their CO2 emissions. Our evidence suggests that green pledges are credible, have material new information for investors, and can reduce perceived transition risk. |
| Keywords: | climate finance, decarbonization commitments, text classification, event study, transition risk, carbon premium |
| JEL: | G14 G32 Q54 Q56 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11507 |
| By: | Katinka Holtsmark; Katinka Kristine Holtsmark |
| Abstract: | Carbon tax revenue recycling – returning tax revenue to firms or households that are covered by the carbon tax – can potentially increase political acceptance for carbon taxation and prevent undesirable distributional outcomes and off-shoring. This paper uses a stylized theoretical model to analyze the long-run effects of carbon tax revenue recycling in a sector where there are knowledge spillovers between firms. The paper shows that recycling tax revenue to polluting firms can impede incentives to invest in green technologies and, in some settings, completely curb green investment. This is the case even if the individual transfers are small relative to aggregate government revenues and not contingent on firm-level emissions or investment levels. The disincentive to invest when revenues are recycled arises because a firm investing in green technology may lower not only their own emissions, but also those of other firms, when there are knowledge spillovers between them. When revenues are recycled, the emission reductions from the rest of the industry will lower the transfer received by the investing firm. |
| Keywords: | green transition, technological development, carbon tax, revenue recycling |
| JEL: | H23 Q54 Q58 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11510 |
| By: | Rila, R.; Mithursan, A.; Samaranayake, D.I.J. |
| Abstract: | The study makes an effort to experiment the effectiveness of green nudges in promoting water conservation and fostering a sustainability mindset in an educational setting. The objective of the study is to explore the potential for fostering a sustainability mindset at the school level by using green nudges to encourage environmentally conscious water conservation behaviors. The methodological application was a field experiment with a post-intervention quantitative analysis, strategically placed visual prompts (stickers) were used to encourage water-saving behavior among students, teachers, and staff. The results show a significant reduction in water wastage, highlighting the impact of green nudges. Regression analysis indicates that responsiveness to green nudges and knowledge of environmental issues are significant predictors of water conservation behavior. The study concludes that tailored, strategically placed nudges can effectively promote sustainable behaviors in schools. These findings offer valuable insights for educators, policymakers, and sustainability practitioners, emphasizing the importance of integrating sustainability education to maintain long-term behavioral changes. |
| Keywords: | Behavioral choices, Green-nudges, Sustainability mindset, Water conservation. |
| JEL: | D71 Q01 Q57 Z0 |
| Date: | 2024–01 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:122767 |
| By: | Ottmar Edenhofer; Max Franks; Friedemann Gruner; Matthias Kalkuhl; Kai Lessmann |
| Abstract: | Carbon dioxide removal (CDR) is becoming an emerging topic in climate policy. We review the nascent economic literature on the governance of CDR and discuss policy design and institutions. We first assess the role of CDR in climate policy portfolios that include abatement and adaptation. Cost saving technological progress could make CDR a game changer in climate policy: CDR creates new sectoral, intertemporal and international flexibilities, which reduce overall costs and allow returning to a temperature target after temporary overshooting. Moreover, carbon removal can reduce the problem of international cooperation due to substantially lower supply-side leakage via fossil fuel markets. A key challenge lies in its governance and incentive structure that is complicated by non-permanence of carbon storage and default risks of the firms committed to future CDR. For CDR governance, we survey approaches that incentivize removals by price instruments or include CDR in (modified) emissions trading schemes. |
| JEL: | H23 Q54 Q58 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11516 |
| By: | Dagher, Leila; Farajalla, Nadim; Jabbour, Hiba; Zreik, Mohamad |
| Abstract: | Decades of political tension and conflict have led to mass displacement in the Levant, placing immense pressure on the region’s limited resources. Climate change acts as a risk multiplier, intensifying vulnerabilities through more frequent extreme events that reduce water availability and make agricultural production less predictable. The resulting competition for dwindling resources fuels tensions, exacerbating the region’s security challenges. As climate impacts worsen, conflicts over resources are expected to escalate, perpetuating a cycle of displacement that threatens regional and global stability. Addressing governance failures and enhancing climate resilience through coordinated efforts is crucial to reducing the Levant’s vulnerability and mitigating prolonged crises. |
| Keywords: | Levant; climate change; refugees; conflict; displacement |
| JEL: | Q01 Q56 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:122861 |
| By: | Josué, ANDRIANADY; Andrianavony, Kanto Joviannah |
| Abstract: | This paper extends the Solow-Swan growth model by incorporating environmental factors, applied specifically to Madagascar. The model simulates three scenarios: (1) a baseline scenario with low savings and high deforestation; (2) an economic reform scenario with increased savings but no environmental improvements; and (3) a combined reform scenario with higher savings and reduced deforestation. The findings reveal that while economic reforms lead to moderate growth, sustainable natural resource management is essential for balanced and resilient development. The study highlights Madagascar’s challenges, including population pressure, deforestation, and climate shocks, and provides insights into policies that align economic and environmental goals. The paper also outlines future improvements, such as developing a stochastic version of the model, to address uncertainties and external shocks more effectively. |
| Keywords: | Economic simulation, physical capital, human capital, natu ral resources, Madagascar, sustainable development, reforms |
| JEL: | A10 E0 O1 O11 O44 O47 Q5 Q50 Q54 Q57 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:122783 |
| By: | David L. Kelly; Christopher Paik |
| Abstract: | We assess the feasibility, optimality, and policy implications of Environmental, Social, and Corporate Governance (ESG)-linked or “green” lending in a credit market where banks incorporate such non-financial data in credit allocation decisions. We identify an asymmetric information problem: borrowers signal low financial risk to banks who are uncertain about borrower risk levels by engaging in green investments. We derive conditions under which banks segment the market into green and brown loan products and evaluate market efficiency. We find borrowers prioritize signaling over the environmental impact of green investments, and the market sustains only limited green lending, since if all borrowers make green investments, no signaling value exists. The optimal carbon tax policy replaces the signaling value of green investments with the marginal damage and outperforms a brown reserve requirement aimed at discouraging brown lending. However, both policies also can sustain only a limited amount of green investments. We conclude that while green lending by banks can enhance welfare relative to an unregulated market, the resulting market segmentation can make the social optimum infeasible, even with carbon tax regulation. |
| Keywords: | competitive screening, ESG, environmental risk, climate risk, sustainable banking, sustainable finance, stranded assets |
| JEL: | D80 D81 Q54 Q56 Q58 G21 E58 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11522 |
| By: | Ben Hoehn; Yannick Schmidt; Sven Bienert |
| Abstract: | We introduce a comprehensive scoring model designed for both listed and non-listed companies within the real estate sector, offering a systematic approach to evaluate and benchmark their progress in achieving Net Zero commitments. The guide encompasses five distinct implementation categories: Targets, Strategies, Organisational Structure, Operational Measures, and Tracking/Monitoring/Reporting. These categories are identified through a prior qualitative study, which extensively examines Net Zero strategies and expert interviews. Utilising these identified measures, we have developed a framework and executed an extensive survey involving ESG professionals in the industry representative of companies exceeding $1, 000 billion in AuM. The goal is to establish a ranking system for these measures, ultimately creating a robust scoring system to assess holistic strategies. The implemented scoring system contributes to this initiative in three significant ways. Firstly, it streamlines the process for companies seeking to commit to net-zero carbon emissions by providing a structured evaluation framework. Secondly, it aids in pinpointing potential gaps in green actions within the strategies of these companies. Lastly, it enhances the transparency surrounding the quality of net-zero commitments, thereby mitigating the risk of (unintentional) greenwashing practices. |
| Keywords: | Environmental Sustainability; net-zero carbon emissions; real estate; scoring and evaluation, decarbonisation management |
| JEL: | R3 |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:afr:wpaper:afres2024-010 |
| By: | Guimbeau, Amanda (University of Sherbrooke); Ji, Xinde James (University of Florida); Menon, Nidhiya (Brandeis University) |
| Abstract: | This study investigates the impact of climate change on intimate partner violence in Bangladesh and shows that policy can mitigate much if not all of the harmful consequences of climate shocks on women. Utilizing a novel dataset linking geo-referenced meteorological remote-sensed data with information on women's agency from the Bangladesh Demographic and Health Surveys, we find that dry shocks increase tolerance for intimate partner violence among women in poor and agriculture-dependent communities, amplifying existing social and environmental vulnerabilities. Climate resilience projects funded by the Bangladesh Climate Change Trust (BCCT), a domestic climate fund, mitigate the negative impacts of dry shocks, highlighting the important role of such initiatives in generate positive spillover effects in ameliorating the negative social impacts of changing climate. We show that impacts are mitigated as these projects enhance resilience in agriculture by reducing the effects of droughts on acreage and yield in rainfed areas. Our findings underline the role of targeted policy interventions in fostering climate adaptation and wellbeing. |
| Keywords: | climate change, women's agency, intimate partner violence, adaptation, mitigation, resilience, agriculture, Bangladesh |
| JEL: | Q54 J16 O13 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp17529 |
| By: | Dixon Dumba; Mary W. Muthoga; Partson Paradza; Winnet K. Ngarakana |
| Abstract: | Universities have always been touted as agents of social and economic change as they advance the boundaries of knowledge and propel innovation through research and knowledge transfer. This paper aims to review the different approaches universities use to promote green environments by examining the extent to which green technologies and curricula, and sustainable campuses are embraced within tertiary institutions (Universities) in Botswana. The methodology involved administering a questionnaire to all Universities in Gaborone to elicit responses on efforts to go green. The sample size was determined at a 90% confidence level with a margin (standard) error of 10% using a purposive sampling technique for analysis purposes. The data used in this study was collected using interviews with various key informants (lecturers in the built environment and facilities managers) for the Universities. It was found that some Universities are trying to become green campuses, though none have attained bespoke green campus status yet because of different challenges. Therefore, it is recommended that Universities, as think tanks of the society, should lead by example and become points of reference for the society to benchmark the concept of green and sustainable development. |
| Keywords: | Carbon trading; Education for Sustainable Development (ESD); green campus; sustainability; Sustainable Development |
| JEL: | R3 |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:afr:wpaper:afres2024-022 |
| By: | Li, Chao; Keeley, Alexander Ryota; Takeda, Shutaro; Seki, Daikichi; Managi, Shunsuke |
| Abstract: | Due to climate change and social issues, environmental, social, and governance (ESG) solutions receive increased attention and emphasis. Being influential market leaders, investors wield significant power to persuade companies to prioritize ESG considerations. However, investors’ preferences for specific ESG topics and changing trends in those preferences remain elusive. Here, we build a group of large language models with 128 million parameters, named classification pre-trained transformers (CPTs), to extract the investors’ tendencies toward 13 ESG-related topics from their annual reports. Assisted by the CPT models with approximately 95% cross-validation accuracy, more than 3, 000 annual reports released by globally 350 top investors during 2010-2021 are analyzed. Results indicate that although the investors show the strongest tendency toward the economic aspect in their annual reports, the emphasis is gradually reducing and shifting to environmental and social aspects. Nonfinancial investors like corporation and holding company investors prioritize environmental and social factors, whereas financial investors pay the most attention to governance risk. There are differences in patterns at the country level, for instance, Japan’s investors show a greater focus on environmental and social factors than other major countries. Our findings suggest that investors are increasingly valuing sustainability in their decision-making. Different investor businesses may encounter unique ESG challenges, necessitating individualized strategies. Companies should improve their ESG disclosures, which are increasingly focused on environmental and social issues, to meet investor expectations and bolster transparency. |
| Keywords: | ESG; Investor; Natural Language Processing; Pre-trained Transformer; Data Mining; Machine Learning |
| JEL: | G11 G18 M1 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:122756 |
| By: | Ben Hoehn; Yannick Schmidt; Sven Bienert |
| Abstract: | We introduce a comprehensive scoring model designed for both listed and non-listed companies within the real estate sector, offering a systematic approach to evaluate and benchmark their progress in achieving Net Zero commitments. The guide encompasses five distinct implementation categories: Targets, Strategies, Organisational Structure, Operational Measures, and Tracking/Monitoring/Reporting. These categories are identified through a prior qualitative study, which extensively examines Net Zero strategies and expert interviews. Utilising these identified measures, we have developed a framework and executed an extensive survey involving ESG professionals in the industry representative of companies exceeding $1, 000 billion in AuM. The goal is to establish a ranking system for these measures, ultimately creating a robust scoring system to assess holistic strategies. The implemented scoring system contributes to this initiative in three significant ways. Firstly, it streamlines the process for companies seeking to commit to net-zero carbon emissions by providing a structured evaluation framework. Secondly, it aids in pinpointing potential gaps in green actions within the strategies of these companies. Lastly, it enhances the transparency surrounding the quality of net-zero commitments, thereby mitigating the risk of (unintentional) greenwashing practices. |
| Keywords: | Environmental Sustainability; net-zero carbon emissions; real estate; scoring and evaluation, decarbonisation management |
| JEL: | R3 |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:afr:wpaper:2024-010 |
| By: | Aghion, Philippe (INSEAD); Bergeaud, Antonin (HEC Paris); De Ridder, Maarten (University of Cambridge); Van Reenen, John (London School of Economics) |
| Abstract: | Green innovation offers a solution to climate change without compromising living standards. Yet the share of climate-enhancing innovations in total patents, after booming for two decades, has seized to grow since the Global Financial Crisis. We develop a quantitative framework in which firms direct innovation towards green or polluting technologies, and become better at innovating in technologies that they have previously succeeded in. This causes mature, incumbent firms to predominantly innovate in polluting technologies. When green technologies become more attractive, e.g. due to a carbon tax, young firms are responsible for a large share of the transition to green innovation. As young firms are financially constrained, a credit shock harms their innovation, bringing the green transition to a halt. We validate the theory with two empirical exercises. First, we use micro data to provide causal evidence that tight credit disproportionately affects green innovation, through its effect on young firms. Second, we show that contractionary monetary policy shocks have a significantly larger effect on green patenting than non-green patenting, in line with the model. Quantifying the model, we find that tight credit can explain around 60% of the recent slowdown in the rise of green patenting. This translates to a cumulative increase in emissions by half a year of the initial (high pollution) steady state. |
| Keywords: | Climate Change; Productivity; Endogenous Growth; Innovation; Creative Destruction |
| JEL: | A10 |
| Date: | 2024–03–25 |
| URL: | https://d.repec.org/n?u=RePEc:ebg:heccah:1512 |
| By: | Veríssimo, Diogo; Blake, Katie; Flint, Hilary Byerly; Doughty, Hunter; Espelosin, Dulce; Gregg, Emily A.; Kubo, Takahiro; Mann-Lang, Judy; Perry, Laura R.; Selinske, Matthew J.; Shreedhar, Ganga; Thomas-Walters, Laura |
| Abstract: | Conservation of biodiversity is above all else an exercise in human persuasion. Human behavior drives all substantive threats to biodiversity; therefore, influencing it is the only path to mitigating the current extinction crisis. We review the literature across three different axes to highlight current evidence on influencing human behavior for conservation. First, we look at behavioral interventions to mitigate different threats, from pollution and climate change to invasive species and human disturbance. Next, we examine interventions focused on different stakeholders, from voters, investors, and environmental managers to consumers, producers, and extractors. Finally, we review delivery channels, ranging from mass and social media to interventions involving changes to the physical environment or carried out in person. We highlight key gaps, including the lack of scale and robust impact evaluation of most interventions, and the need to prioritize behaviors, overcome the reproducibility crisis, and deal with inequality when designing and implementing behavior change interventions. |
| Keywords: | behavioral science; communication; nudge; social marketing; social science; sustainability |
| JEL: | L81 |
| Date: | 2024–10–31 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:126106 |
| By: | Dixon Dumba; Mary W. Muthoga; Partson Paradza; Winnet K. Ngarakana |
| Abstract: | Universities have always been touted as agents of social and economic change as they advance the boundaries of knowledge and propel innovation through research and knowledge transfer. This paper aims to review the different approaches universities use to promote green environments by examining the extent to which green technologies and curricula, and sustainable campuses are embraced within tertiary institutions (Universities) in Botswana. The methodology involved administering a questionnaire to all Universities in Gaborone to elicit responses on efforts to go green. The sample size was determined at a 90% confidence level with a margin (standard) error of 10% using a purposive sampling technique for analysis purposes. The data used in this study was collected using interviews with various key informants (lecturers in the built environment and facilities managers) for the Universities. It was found that some Universities are trying to become green campuses, though none have attained bespoke green campus status yet because of different challenges. Therefore, it is recommended that Universities, as think tanks of the society, should lead by example and become points of reference for the society to benchmark the concept of green and sustainable development. |
| Keywords: | Carbon trading; Education for Sustainable Development (ESD); green campus; sustainability; Sustainable Development |
| JEL: | R3 |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:afr:wpaper:2024-022 |
| By: | Viral V. Acharya; Robert F. Engle III; Olivier Wang |
| Abstract: | We study how government policies and corporate commitments to decarbonize interact under two externalities: environmental damages and green innovation spillovers. Unconstrained carbon taxes and innovation subsidies could achieve first-best outcomes, but when government policies face constraints, commitments by large firms and institutional investors can serve as profit-driven coordination devices that spur green innovation and technology adoption, and thereby reduce overall transition costs. Firm commitments also enhance government policy credibility by lowering the need for high future carbon taxes. Our empirical evidence confirms that firm size and green common ownership drive Net Zero commitments and decarbonization investments. |
| JEL: | G3 H2 Q5 |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:33335 |
| By: | Armon Rezai; Franz Ruch; Rishabh Choudhary; John Nana Darko Francois |
| Abstract: | The impacts of climate change on developing economies are becoming increasingly severe, creating challenges for risk management and requiring enhanced levels of resilience. This paper explores how to mitigate the effects of such climate shocks on developing economies, placing a particular focus on the role fiscal policy in creating and strengthening an economy’s resilience. Using data on natural disasters, the analysis shows that economies with constrained fiscal space experience more pronounced negative effects. In an application to a small open economy, the paper tests the presence of the non-linearity of short- and long-run disaster impacts in the World Bank's macroeconomic and fiscal model and illustrates the importance of fiscal policy in mitigating shocks. |
| Keywords: | fiscal policy, economic resilience, climate, natural disasters |
| JEL: | H20 H12 O44 O47 Q54 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11517 |
| By: | Hrishidev Unni; Rubal Rathi; Sangita Dutta Gupta; Anirban Chakraborti |
| Abstract: | The Sustainable Development Goals (SDGs) offer a critical global framework for addressing challenges like poverty, inequality, climate change, etc. They encourage a holistic approach integrating economic growth, social inclusion, and environmental sustainability to create a better future. We aim to examine India's responsibility in achieving the SDGs by recognizing the contributions of its diverse states in the federal structure of governance. As the nodal agency in India, the NITI Aayog's existing SDG index, using various socioeconomic indicators to determine the performance across different goals, serves as a foundation for assessing each state's progress. Building on the seminal works of Hidalgo and Hausmann (2009) and Tachhella et al. (2012), which introduced the economic complexity/fitness index, Sciarra et al. (2020) proposed the SDGs-Generalized Economic Complexity (GENEPY) framework to quantify "complexity" by computing "ranks for states" and "scores for goals", treating them as part of a complex bipartite network. In this paper, we apply the SDGs-GENEPY, to evaluate the progress and evolution of Indian states and union territories over several years. This enables us to identify each state's capacity (and rank) in achieving the SDGs. We can interpret these complexity scores as "centrality measures" of a complex bipartite network of the states and the goals. This enhances our understanding of the complex relationship between state capabilities and the achievability of SDGs within the Indian context and enables data-driven policy-making. |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2501.05314 |
| By: | Fries, Christian P. |
| Abstract: | This paper investigates the fair share of GDP required to mitigate climate change costs, using an extended DICE model. A dedicated fund, supplied annually by a fixed fraction of GDP, is introduced to cover abatement and damage costs. Numerical analysis reveals that a funding rate of 2.4% of GDP is sufficient to meet all costs, enabling faster early abatement and reducing total emissions significantly. The proposed approach promotes intergenerational equity by distributing climate-related costs evenly across generations, overcoming the classical DICE model's limitations. We investigate the interplay of the model's discount rate and the required funding rate. For low to moderate discount rates the required funding rate is largely independent of the discount rate, while high discount rate lead to higher funding rates as nominal cost increase. |
| Keywords: | Integrated Assessment Models; CO2-Price; Social Cost of Carbon; Interest Rate of Carbon; Intergenerational Equity; GDP |
| JEL: | E17 Q54 |
| Date: | 2024–11–30 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:123001 |
| By: | Paul Simshauser |
| Keywords: | Renewable energy zones, renewables, spilled energy, marginal curtailment, battery storage |
| JEL: | D52 D53 G12 L94 Q40 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:enp:wpaper:eprg2419 |
| By: | Christopher Mulenga; Moses Phiri |
| Abstract: | Civil Society Organisations (CSOs) have been instrumental in implementing many donor-funded land projects in Zambia due to their vast experience in interacting with the communities. Participatory land use planning (PLUP) is one of the key elements to achieving sustainable development in a country. Zambia is endowed with abundant natural resources that include forests. However, the rate at which these are being depleted is a source of concern for both the government and the private sector. The eastern province of Zambia has received a lot of interest from both the cooperating partners and the government in implementing participatory land use planning with a particular focus on integrating social biodiversity impact assessment (SBIA). It is in this vein that Petauke District Land Alliance, Chipata District Land Alliance and Nyimba Land Alliance as part of the consortium were hired by Zambia Integrated Forest Landscape Project, a government project funded by World Bank managed to support 22 wards spanning across nine districts in Eastern province to develop Participatory Land Use plans covering a total of over 90, 000 hectares of land dotted in four districts implemented in twelve months from February 2021 to February 2022. The assignment was to support/facilitate planning and implementation of integrated land use and resource management that meet the climate resilience/mitigation and livelihoods objectives of rural households in the Eastern Province. This resonates with last year’s COP28 meeting in Dubai, United Arab Emirates where world leaders met to seek for means and ways of combating the effects of climate change. In order to achieve this geo spatial tools such as open data kit incorporating geo ODK, garmin glos, QGIS and GPS have been extensively used in the implementation of participatory land use planning in eight districts of eastern province of Zambia. These geo spatial technologies have eased the work of the implementing team as they cover long distances to capture either line or polygon data in 22 wards spanning across the eight districts. The wards and districts were carefully chosen as they represent different landscapes and cultural diversities. Some are patrilineal whilst others are matrilineal. PLUP has been undertaken both on customary and statutory lands, though the former is more prevalent. The PLUP implementation in Eastern Province is aimed at reducing deforestation and land degradation in the rural communities where unsustainable agricultural practices and indiscriminate cutting down of trees for charcoal production is rife. In order to effectively counter unsustainable agricultural practices climate smart agricultural (CSA) practices were carried out in each ward by mapping agricultural parcels of land through the use of low-cost geo spatial data collection tools. This was meant to assist in meeting ZIFLP’s goal of investing in low carbon development initiatives that include district level integrated land use planning (IDP), participatory community land use planning, sustainable forest management, climate smart agriculture (CSA) and value chain development. This paper seeks to explore how CSOs have been instrumental in the implementation of participatory land use planning that integrates the social biodiversity impact assessment. |
| Keywords: | Climate Change; CSA; Geo spatial tools; PLUP; SBIA |
| JEL: | R3 |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:afr:wpaper:2024-004 |
| By: | Christopher Mulenga; Moses Phiri |
| Abstract: | Civil Society Organisations (CSOs) have been instrumental in implementing many donor-funded land projects in Zambia due to their vast experience in interacting with the communities. Participatory land use planning (PLUP) is one of the key elements to achieving sustainable development in a country. Zambia is endowed with abundant natural resources that include forests. However, the rate at which these are being depleted is a source of concern for both the government and the private sector. The eastern province of Zambia has received a lot of interest from both the cooperating partners and the government in implementing participatory land use planning with a particular focus on integrating social biodiversity impact assessment (SBIA). It is in this vein that Petauke District Land Alliance, Chipata District Land Alliance and Nyimba Land Alliance as part of the consortium were hired by Zambia Integrated Forest Landscape Project, a government project funded by World Bank managed to support 22 wards spanning across nine districts in Eastern province to develop Participatory Land Use plans covering a total of over 90, 000 hectares of land dotted in four districts implemented in twelve months from February 2021 to February 2022. The assignment was to support/facilitate planning and implementation of integrated land use and resource management that meet the climate resilience/mitigation and livelihoods objectives of rural households in the Eastern Province. This resonates with last year’s COP28 meeting in Dubai, United Arab Emirates where world leaders met to seek for means and ways of combating the effects of climate change. In order to achieve this geo spatial tools such as open data kit incorporating geo ODK, garmin glos, QGIS and GPS have been extensively used in the implementation of participatory land use planning in eight districts of eastern province of Zambia. These geo spatial technologies have eased the work of the implementing team as they cover long distances to capture either line or polygon data in 22 wards spanning across the eight districts. The wards and districts were carefully chosen as they represent different landscapes and cultural diversities. Some are patrilineal whilst others are matrilineal. PLUP has been undertaken both on customary and statutory lands, though the former is more prevalent. The PLUP implementation in Eastern Province is aimed at reducing deforestation and land degradation in the rural communities where unsustainable agricultural practices and indiscriminate cutting down of trees for charcoal production is rife. In order to effectively counter unsustainable agricultural practices climate smart agricultural (CSA) practices were carried out in each ward by mapping agricultural parcels of land through the use of low-cost geo spatial data collection tools. This was meant to assist in meeting ZIFLP’s goal of investing in low carbon development initiatives that include district level integrated land use planning (IDP), participatory community land use planning, sustainable forest management, climate smart agriculture (CSA) and value chain development. This paper seeks to explore how CSOs have been instrumental in the implementation of participatory land use planning that integrates the social biodiversity impact assessment. |
| Keywords: | Climate Change; CSA; Geo spatial tools; PLUP; SBIA |
| JEL: | R3 |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:afr:wpaper:afres2024-004 |
| By: | Luis Lopez; Nitzan Tzur-Ilan |
| Abstract: | We leverage quasi-experimental wildfire smoke shocks to analyze the causal effect of air pollution (PM2.5) on rent prices, using satellite-based smoke plumes data and ambient air pollution data. Our results indicate that the rent of homes that are not directly affected by wildfires but exposed to wildfire plumes declines by about -2.4% per one standard deviation increase in PM2.5. The response of home prices is more than threefold highlighting a gap in the tolerance of poor air quality, which we find is driven by age-related differences between tenants and homeowners. We further show evidence that air pollution affects liquidity and search frictions in the rental market. |
| Keywords: | Air Pollution; rental housing; house prices; wildfires |
| JEL: | Q52 Q53 R21 |
| Date: | 2025–01–08 |
| URL: | https://d.repec.org/n?u=RePEc:fip:feddwp:99421 |
| By: | Qiu, Xincheng (Peking University); Yoshida, Masahiro (Waseda University) |
| Abstract: | We study the impact of climate change on the labor share. Using a newly constructed dataset combining US county-level labor shares with climate variables, we find that extreme temperatures reduce labor share. This adverse effect is more pronounced in industries with higher outdoor exposure and automation potential. We also show that extreme temperatures accelerate the adoption of industrial robots. Overall, climate change accounts for 14% of the decline in labor share during 2001–2019. In the last century, however, the opposing effects of decreased cold days and increased hot days offset each other, consistent with the well-documented constancy of labor share. |
| Keywords: | climate change, labor share, automation |
| JEL: | E25 Q54 O33 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp17485 |
| By: | Williams, Mariama; Constable, Ayesha |
| Abstract: | Addressing gender inequality in climate finance is crucial for reducing women’s vulnerability to climate hazards, especially in the Caribbean where the impacts of climate change are threatening economies and livelihoods. Financial inclusion for women is necessary for sustainable development and climate resilience. This report analyzes gender-based climate financing in the region, examining the global and regional climate finance landscape, and highlighting key issues related to gender equality and women’s autonomy. The report includes: an analysis of challenges and opportunities for gender equality in climate financing; trend analysis of climate finance distribution and its reach to women and women’s organizations, an evaluation of gender action plans by main climate financing mechanisms; and an examination of innovative financing initiatives from a gender perspective. This comprehensive analysis aims to enhance understanding of gender-responsive climate finance and its impact on women’s lives and livelihoods in Latin America and the Caribbean. |
| Date: | 2024–12–02 |
| URL: | https://d.repec.org/n?u=RePEc:ecr:col040:81051 |
| By: | Christian A. Vossler (Department of Economics, University of Tennessee); Timothy N. Cason; James J. Murphy; Paul J. Ferraro; Todd L. Cherry; George Loewenstein; Peter Martinsson; Jason F. Shogren; Leaf van Boven; Daan van Soest |
| Abstract: | Motivated by the fact that few academic publications document the links between behavioral experiments and public decision making, this paper compiles and describes many studies that were used to inform environmental policy and natural resource management decisions. These experiments informed or changed the designs of emissions trading programs, recreational fishing regulations, conservation auctions, pro-environmental initiatives directed at households, and regulatory enforcement and compliance schemes, and produced nonmarket demand estimates that informed government regulatory analyses. We highlight the context and conditions that produced these experiment-policy links and discuss how researchers can better engage with the policymaking process and increase the impact of experimental research on policy. |
| JEL: | C9 D04 D47 Q28 Q48 Q51 Q58 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:ten:wpaper:2024-05_1 |
| By: | Oluwaseun Ajayi; Kazeem O. Isah |
| Abstract: | We investigated the role of technological innovation in the climate change-REITs nexus, considering the physical and transitional dimensions of risk posed by changing climate. Determining which dimension of climate risk is the most severe and affects the volatility of REITs is crucial. The study incorporated data from a daily market capitalisation-weighted index of U.S. equity REITs covering October 14, 2013, to December 29, 2023. The findings suggest that climate change's physical aspects heighten the volatility in the REITs market, with transitional climate risks bearing a more significant impact. Surprisingly, technology mitigates the effect of climate risk on REITs, but this reduction is more evident for transitional risks than physical ones. The paper has implications for investors, asset managers, and policymakers. Investors can utilise the research to adjust their portfolio strategies, considering climate risks and technological factors in REITs. Asset managers can refine their risk assessment frameworks for more resilient investment practices. Policymakers can use this research’s findings to develop regulations promoting climate resilience and real estate innovation. |
| Keywords: | climate change, GARCH-MIDAS, REITs, technological shocks |
| JEL: | R3 |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:afr:wpaper:afres2024-026 |
| By: | Oluwaseun Ajayi; Kazeem O. Isah |
| Abstract: | We investigated the role of technological innovation in the climate change-REITs nexus, considering the physical and transitional dimensions of risk posed by changing climate. Determining which dimension of climate risk is the most severe and affects the volatility of REITs is crucial. The study incorporated data from a daily market capitalisation-weighted index of U.S. equity REITs covering October 14, 2013, to December 29, 2023. The findings suggest that climate change's physical aspects heighten the volatility in the REITs market, with transitional climate risks bearing a more significant impact. Surprisingly, technology mitigates the effect of climate risk on REITs, but this reduction is more evident for transitional risks than physical ones. The paper has implications for investors, asset managers, and policymakers. Investors can utilise the research to adjust their portfolio strategies, considering climate risks and technological factors in REITs. Asset managers can refine their risk assessment frameworks for more resilient investment practices. Policymakers can use this research’s findings to develop regulations promoting climate resilience and real estate innovation. |
| Keywords: | climate change, GARCH-MIDAS, REITs, technological shocks |
| JEL: | R3 |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:afr:wpaper:2024-026 |
| By: | Weber, Pierre-François; Afota, Amandine; Boeckelmann, Lukas; De Gaye, Annabelle; Dieppe, Alistair; Faubert, Violaine; Grieco, Fabio; Le Roux, Julien; Meunier, Baptiste; Munteanu, Bogdan; Nobletz, Capucine; Norring, Anni; Reininger, Thomas; Skackauskaite, Ieva; Suárez-Varela, Marta; Svartzman, Romain; Valadier, Cécile; Vlajie, Diana; Wilbert, Lucia; Zaghini, Andrea; Attinasi, Maria Grazia; Brüggemann, Axel |
| Abstract: | Two phenomena are increasingly reshaping the world economy. One is the growing and well-documented importance of climate transition policies that differ across countries. The other is the stark rise of geoeconomic fragmentation (GEF) concerns. While differences in climate transition policies are not new, they could amplify GEF, which is a new, growing risk. Conceptually, GEF is a policy-driven reversal of global economic integration, guided by strategic considerations such as national security, sovereignty, autonomy, or economic rivalry. It does not include reversals to global economic integration that are driven by autonomous change, such as shifts in technology, demographics or preferences, or policies motivated primarily by prudential or environmental concerns and labour or human rights. GEF propagates via all the channels through which countries engage with each other economically and politically to provide global public goods such as climate change mitigation. The steep rise in trade and investment restrictions points to coming headwinds which could be compounded by uncoordinated climate transition policies. Conversely, GEF could make transition policies more difficult as, together with their prerequisites – such as shared regulatory approaches, knowledge sharing and financial aid to less well-off countries – they hinge on effective cross-border coordination and collaboration. There is a considerable risk that GEF may hinder climate transition policies. The report is structured as follows. The first section sheds light on how climate policies may contribute to GEF. The second section analyses the extent to which GEF could hinder the green transition. The last section discusses gaps and avenues for further analytical and model-based work. JEL Classification: F52, F64, H87, Q54 |
| Keywords: | climate change, geoeconomic fragmentation, international cooperation, international public goods |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:ecb:ecbops:2025366 |
| By: | Ignacio Garr\'on; Andrey Ramos |
| Abstract: | Accurate tracking of anthropogenic carbon dioxide (CO2) emissions is crucial for shaping climate policies and meeting global decarbonization targets. However, energy consumption and emissions data are released annually and with substantial publication lags, hindering timely decision-making. This paper introduces a panel nowcasting framework to produce higher-frequency predictions of the state-level growth rate of per-capita energy consumption and CO2 emissions in the United States (U.S.). Our approach employs a panel mixed-data sampling (MIDAS) model to predict per-capita energy consumption growth, considering quarterly personal income, monthly electricity consumption, and a weekly economic conditions index as predictors. A bridge equation linking per-capita CO2 emissions growth with the nowcasts of energy consumption is estimated using panel quantile regression methods. A pseudo out-of-sample study (2009-2018), simulating the real-time data release calendar, confirms the improved accuracy of our nowcasts with respect to a historical benchmark. Our results suggest that by leveraging the availability of higher-frequency indicators, we not only enhance predictive accuracy for per-capita energy consumption growth but also provide more reliable estimates of the distribution of CO2 emissions growth. |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2501.03380 |
| By: | Schütze, Berit; Tönshoff, Charlotte; Wegmann, Johannes |
| Abstract: | Hedgerows provide a variety of ecosystem services such as erosion control, improvement of the microclimate and wood production. They are an important habitat for plants and animals in the agricultural landscape. In addition, there is a new focus on the climate protection potential of hedges as carbon sequestration of hedgerows per hectare is comparable to estimates for forests. Thus, the political goal is to greatly expand hedgerow structures in Germany by 2030 as a measure for nature-based solutions. However, the increase of hedgerows has been low in recent years. To identify reasons, a literature analysis was carried out. The current legal framework and existing funding programmes for hedgerows were investigated. Based on this, factors that promote or hinder the planting of new hedgerows were identified. Legal regulations have to be considered when planting, managing and maintaining hedgerows. These can have an inhibiting effect. A major obstacle is the ban on the removal of hedgerows as usable agricultural land is permanently removed. Furthermore, the protection of hedgerows under the federal nature conservation law makes it difficult to utilise hedgerow products beyond the use of cuttings. Besides, the lack of availability of native woody plants and fear of sanctions due to the large number and associated complexity of legal regulations have to be considered as an inhibiting factor. Nearly every federal state in Germany offers area-based or investment-based funding measures that can support the development of hedgerows. They vary in terms of funding objective, funding amounts, territorial scope and funding recipients. Possible factors for low take-up are insufficient funding amounts, financial hurdles due to advance payments, a lack of clarity of funding programmes, a lack of targeting of landowners, low financial incentives for maintenance of hedgerows and bureaucratic funding procedures. Funding programmes with comparatively high fixed funding amounts are called up the most. To make the planting of hedges financially attractive, the reduction in land value has to be taken into account in funding programmes. There is a clear focus on nature conservation both in funding programmes and in law considering hedgerows. The climate protection potential of hedgerows has not yet been taken into account in funding programmes. With regard to climate protection, CO2-certificates could play an important role in the future as part of carbon farming. |
| Keywords: | Climate Change, Environmental Economics and Policy, Political Economy |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ags:jhimwp:348972 |
| By: | Hong, Jifeng; Kazakis, Pantelis; Strieborny, Martin |
| Abstract: | Utilizing a staggered Difference-in-Differences (DID) approach, we investigate the impact of green bond issuance on the probability of default among Chinese firms from 2016 to 2022. We find that issuing a green bond significantly reduces the firm’s default probability, highlighting the joint advantage of financial stability and environmental sustainability. The effect is particularly strong for firms that lack strong external monitoring by financial analysts and media, for high-polluting firms, and for firms facing a high level of competition. Our results also suggest that the transmission from green bond issuance to improved financial resiliency works both through alleviating financial constraints and through increasing stock liquidity. |
| Keywords: | green bond issuance; default probability; analyst and media coverage; financial constraints; stock liquidity |
| JEL: | G14 G32 G33 |
| Date: | 2024–12–19 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:123049 |
| By: | Saheed Bello; David M Reiner |
| Keywords: | Green hydrogen technology, experience curves, RD&D spending, global and OECD, cost reductions |
| JEL: | O30 C50 Q42 Q55 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:enp:wpaper:eprg2420 |
| By: | Stefano Carattini; Garth Heutel; Givi Melkadze; Inès Mourelon |
| Abstract: | Transition risk – the financial stability risk related with decarbonization – is a major source of concern. The literature has so far only studied transition risk caused by carbon tax shocks. This paper explores other potential sources of transition risk: two other policy sources – subsidies to abatement or to green producers – and two preference-based sources – a shock to consumer preferences and a shock to investor preferences. We develop an environmental dynamic stochastic general equilibrium model that includes a frictional financial sector, and we consider macroprudential policy responses to transition risks. These different shocks have different effects on the possibility of transition risk and lead to different macroprudential policy implications. |
| JEL: | E32 E60 G18 Q43 Q58 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:33275 |
| By: | Benadi, Hanane |
| Abstract: | In the current context of environmental collapse and climate change, warnings about the threat of global severe water shortages have proliferated in media and policy discourses. At the same time, in many parts of the world, ordinary people, state institutions, and global financial actors are engaged in daily struggles over forms of water valuation. At stake in these struggles is the question: is water a commodity or a right? Based on ethnographic research conducted among Muslims and Christians in Jordan, this paper will explore how debates about forms of valuing water could be extended beyond the right/commodity and private property/commons distinctions to include religiously-informed forms of valuation. To do so, this paper shows how Muslims and Christians in Jordan provoke a mode of water valuation that is grounded in the idea of the ethical imperative to fulfil the amana (divine trust). Central to amana is the constant ethical labor of balancing the human right to govern/enjoy public resources such as water with divine responsibility. Amana affirms the value of water as a common good accessible to all and shared across generations while simultaneously making the realization of this value dependent on the divinely mediated relations of trust and obligation that hold together all of God’s creation. As such, the stakes in this mode of valuing water go beyond the struggle to counter the financialization of public water to insist on the necessity of making space for a non-possessive relationship to water that is embedded in shared createdness and oriented towards the hereafter and accountability to God. |
| Keywords: | temporality; climate change; value; water scarcity; Jordan; Islam; Christianity; ethics |
| JEL: | R14 J01 |
| Date: | 2024–12–31 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:125964 |
| By: | Joshua Graff Zivin; Gregor Singer |
| Abstract: | We examine how exogenous changes in exposure to air pollution over the past two decades have altered the disparities in home values between Black and White homeowners. We find that air quality capitalization rates are significantly lower for Black homeowners. In fact, they are so much lower that, despite secular reductions in the Black-White pollution exposure gap, disparities in housing values have increased during this period. An exploration of mechanisms suggests that roughly two-thirds of this difference is the result of direct discrimination while the remaining one-third can be attributed to systemic discrimination. |
| Keywords: | house prices, environmental justice, air pollution, race, discrimination |
| JEL: | Q51 R30 J15 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11555 |
| By: | Federico Revelli; Tsung-Sheng Tsai |
| Abstract: | We study the impact of climate change on migration by developing a real options model that rigorously formalizes the trade-off between migrating early and procrastinating to learn more about the government’s implementation of an adaptation policy that can effectively moderate the consequences of climate change. The model delivers an unambiguous guide to estimation of the impact of climate change on the occurrence of natural disasters and of the latter on migration decisions within a structural empirical model where the distinct mediation roles of the option value of waiting components (migration cost, home income, quality of government) are specified in a principled way. Evidence from panel data on international bilateral migration flows supports the main predictions of the theory and points to the key mediating role of government. |
| Keywords: | option value of waiting, climate change adaptation, international migration |
| JEL: | C33 H31 O15 Q54 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11493 |
| By: | Tamma Carleton; Esther Duflo; Kelsey Jack; Guglielmo Zappalà |
| Abstract: | Mounting costs of anthropogenic climate change reveal that adaptation will be essential to human well-being in coming decades. At the same time, the literature on the economics of adaptation offers relatively little guidance for emerging policy. In this chapter, we review the existing literature, focusing on how it can better inform adaptation policy design and implementation. A simple conceptual model of adaptation decision-making describes two core adaptation channels that we link to two streams of adaptation literature, which have emerged largely in parallel. We outline how insights from these literatures can be used for adaptation policy evaluation, highlight key limitations of and opportunities for public intervention in private adaptation markets, and provide guidance for future work. |
| JEL: | Q5 Q54 Q58 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:33264 |
| By: | Tobias Eibinger (University of Graz, Austria); Karl W. Steininger (University of Graz, Austria); Hans Manner (University of Graz, Austria) |
| Abstract: | Greenhouse gas emissions in Austria in 2023 were 14% below 1990 levels, matching those last observed in 1970. Particularly strong decreases occurred in 2022 and 2023, with emissions falling by 5.8% and 6.4%, respectively. The buildings sector in 2023 was over 50% below its 1990 baseline. It experienced a 20% drop in 2023, with 0.7 percentage points explained by a milder winter and the remainder driven by an increased share in renewables. Two-thirds of this uptake can be traced to high energy prices since 2021. Emissions in remaining sectors declined by 4.9% in 2023, with weak economic performance contributing 0.86 percentage points and the majority attributed to a higher share of renewables, around 60% of which can be explained by rising energy prices since 2021. A hypothetical scenario, assuming average economic conditions and winter temperatures, indicates that emissions would have been lower than the ones observed in 2021 and 2022 but slightly higher in 2023. |
| Keywords: | GHG Emissions, Mitigation, Nowcasting. |
| JEL: | C53 Q58 Q41 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:grz:wpaper:2024-23 |
| By: | Francesco Jacopo Pintus; Jan P.A.M. Jacobs; Elmer Sterken; Jan Jacobs |
| Abstract: | The negative effects of climate change on output and productivity have been well documented in recent years. However, its impact on public finances has received little attention. This paper attempts to fill this gap by analysing the impact of climate anomalies on fiscal variables in a macroeconometric framework that also takes into account economic activity. We exploit natural weather variations to construct temperature and precipitation shocks in a panel of 14 European countries and the United States. Impulse response functions from a structural Bayesian Panel VAR show that adverse climate shocks are contractionary and significantly increase public debt and deficits over a business cycle horizon. However, the inflationary impact and the persistence of temperature and precipitation shocks are quite different. The negative fiscal and economic consequences of temperature anomalies are remarkably stronger for warmer, climate-vulnerable and highly indebted countries. Further analysis suggests that the main transmission mechanisms of the reported fiscal impacts are significantly lower tax revenues combined with an increase in government spending on public subsidies. |
| Keywords: | public debt, climate change, panel data, structural Bayesian VAR |
| JEL: | C32 E62 H62 Q54 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11548 |
| By: | Rim Berahab |
| Abstract: | The energy sector faces many challenges that undermine economic growth, energy security and access, and environmental sustainability. To address these challenges, Atlantic Basin countries need to improve access to reliable energy, diversify their energy mix with low-carbon alternatives and improve energy efficiency in the long term. However, the transition to clean energy will also create new risks and challenges that differ from one Atlantic country to another, requiring additional risk mitigation measures and raising the question about the appropriate pace of energy transition. Therefore, the key to managing these risks, lies in robust, equitable, and interdependent global markets and supply chains coupled with strong regional partnerships and national alliances. Therefore, a new energy security paradigm for the Atlantic Basin must emerge to address current and future challenges and ensure that energy security for some does not create massive insecurity for others. However, this new paradigm will require making explicit the new geopolitical risks and trade-offs of sustainable energy systems. "This Paper is prepared within the framework of the Jean Monnet Atlantic Network 2.0. The European Commission's support for the production of this publication does not constitute an endorsement of the contents, which reflect the views only of the authors, and the Commission cannot be held responsible for any use which may be made of the information contained therein." |
| Date: | 2023–05 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:rpcoen:rpnn_72 |
| By: | Wojcik, Adrian Dominik; Glińska-Neweś, Aldona; Jurgiel, Dominika; Milfont, Taciano L (University of Waikato); Brzustewicz, Paweł; Glinka, Beta; Łuka, Alicja; Szostek, Dawid |
| Abstract: | The advancement of research on employee pro-environmental behaviors (PEBs) is hindered by inconsistent terminology, fragmented behavior taxonomies, and incoherent measurement methods. Our research focuses on the concept of employee green behaviors (EGB) and seeks to empirically validate a set of EGB items derived from the Green Five Taxonomy. Through three surveys of full-time office workers in Poland (Ntotal = 2, 985), the study identifies six distinct categories of EGB: reducing, recycling, reusing, prioritizing environmental concerns, counterproductive green behavior, and other behaviors beyond the 3R (reduce, reuse, recycle) framework. These findings refine the initial taxonomy and offer a consolidated measurement tool. |
| Date: | 2024–12–06 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:wknhs |
| By: | Federica Cappelli (Università degli studi di Ferrara) |
| Abstract: | The European Union's energy security is increasingly challenged by its heavy dependence on imported oil, which exposes the region to geopolitical risks and market vulnerabilities. This study explores the role of trade dynamics in exacerbating this dependency, leading to what we term trade lock-in. Additionally, we assess the effectiveness of environmental policies in reducing oil import dependence, investigating whether these policies foster a shift toward greener investments (divestment effect) or inadvertently drive increased oil extraction (green paradox effect). We use network analysis to represent the international oil trade network and use this information in an econometric framework covering the period from 1999 to 2019, accounting for the presence of cross-sectional dependence. We identify two main factors that lock energy systems into an oil-based path: technological (represented by the level of energy intensity) and trade (represented by the existence of privileged trade relations with major oil-exporting countries) lock-ins. Furthermore, we find evidence of the divestment effect for some specific environmental policy instruments, but the effect is not uniform across instruments characterised as either demand-pull or technology-push. Finally, we find that an efficient eco-innovation system can effectively reduce oil import dependence only in countries with a comparative advantage in exporting clean technologies. |
| Keywords: | oil dependence; network analysis; environmental policy; technological change; European Union |
| JEL: | F18 O32 Q32 Q37 Q48 |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:srt:wpaper:0125 |
| By: | Esther Ann Bøler; Katinka Holtsmark; Karen Helene Ulltveit-Moe; Katinka Kristine Holtsmark |
| Abstract: | We analyze how a major negative shock to the producers of fossil fuels may lead to a shift from dirty to clean R&D along the supply chain. First, we develop a theoretical framework of directed technical change, showing that adjustment costs in R&D activity can lead fossil energy sector suppliers to shift their R&D activity towards clean innovation more than other firms, as a consequence of a negative oil price shock. Second, we investigate the impact of a major drop in the oil price in 2014 on clean R&D. Relying on rich firm level trade data, we propose a novel method of identifying firms’ exposure to the price shock. We find that more exposed firms increased their clean R&D investments more than less exposed firms. Our findings contribute to the understanding of the drivers of clean technological change, which is vital to assess the effectiveness of different climate policy measures, including carbon pricing. |
| Keywords: | clean innovation, supply chains, carbon pricing |
| JEL: | D25 F18 O31 Q55 Q58 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11550 |
| By: | Giulia Valenti (Ca’ Foscari University of Venice and Fondazione Eni Enrico Mattei); Francesco Vona (University of Milan and Fondazione Eni Enrico Mattei) |
| Abstract: | This paper examines the impact of temperature shocks, measured by cold and heat waves, on labour market outcomes across 14 European countries. Using retrospective individual-level data from the Survey on Health, Ageing, and Retirement in Europe (SHARE) and daily climate data from the E-OBS dataset, we analyze the effect on wages and occupational transition. By leveraging plausibly exogenous weather shocks, we find that heat waves significantly reduce individual income, with losses accumulating over time. Moreover, our analysis documents that older individuals, those with severe health conditions, and workers in heat-exposed occupations experience particularly large income reductions. Losses are also more pronounced in Mediterranean and Eastern European countries, as well as in regions with less regulated wage-setting mechanisms. Additionally, our findings suggest that heat waves increase the likelihood of changing jobs and in particular to transition from heat-exposed to non-heat-exposed occupations. These results underscore the need for targeted policy interventions to mitigate economic losses and protect vulnerable workers in the face of increasing climate variability. |
| Keywords: | Temperature, labour market, wages, occupational transition |
| JEL: | Q54 J24 J30 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:fem:femwpa:2024.31 |
| By: | Khondaker Golam Moazzem; Helen Mashiyat Preoty; Mashfiq Ahsan Hridoy; Jebunnesa; Faisal Quiayyum |
| Abstract: | The national budget for FY2025 holds critical importance for Bangladesh’s power and energy sector as it seeks to address the sector’s numerous challenges while moving towards sustainable energy and energy transition goals. This study critically examines the national budget’s reflection on key priorities in the power and energy sector, including overgeneration capacity, frequent power outages, slow progress in renewable energy, and financial vulnerabilities of public authorities |
| Keywords: | Power and Energy Sector, National Budget, FY2024-25, Energy transitiony, Bangladesh |
| Date: | 2024–07 |
| URL: | https://d.repec.org/n?u=RePEc:pdb:opaper:155 |
| By: | Nguyen, Ha Trong; Mitrou, Francis |
| Abstract: | Amidst growing concerns over heightened natural disaster risks, this study pioneers an inquiry into the causal impacts of cyclones on the demand for private health insurance (PHI) in Australia. We amalgamate a nationally representative longitudinal dataset with historical cyclone records, employing an individual fixed effects model to assess the impacts of various exogenously determined cyclone exposure measures. Our findings reveal that only the most severe category 5 cyclones significantly increase the likelihood of individuals acquiring PHI in both the concurrent and subsequent years. Furthermore, the effect diminishes as the distance from the cyclone's eye increases. The largest estimated cumulated impact amounts to over 5 percentage points, representing approximately 11% of the sample mean and aligns with documented effects of certain PHI policies aimed at enhancing coverage. Furthermore, our findings withstand a series of sensitivity assessments, including a placebo test and three randomization examinations. Moreover, the cyclone impacts are more pronounced for younger demographics, individuals of higher socioeconomic status, and inhabitants of coastal or historically cyclone-affected areas. Additionally, after ruling out income, transfers, health status, and premiums as mechanisms, our study furnishes suggestive evidence that cyclone-induced home damage and heightened psychological stress are plausible pathways through which cyclones increase PHI uptake. |
| Keywords: | Natural Disasters; Health Insurance; Risk Preferences; Australia |
| JEL: | D81 G22 I13 Q54 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:123055 |
| By: | Laura Recuero Virto (PULV - Pôle Universitaire Léonard de Vinci); Adrien Comte (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 nationale des ponts et chaussées - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique, IRD [France-Ouest] - Institut de Recherche pour le Développement, IRD - Institut de Recherche pour le Développement, 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, LEMAR - Laboratoire des Sciences de l'Environnement Marin (LEMAR) - IRD - Institut de Recherche pour le Développement - 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); Linwood Pendleton (UBO - Université de Brest, WWF - World Wide Fund, Global Change Institute (Australia)) |
| Abstract: | Although they provide essential services to local populations, coral reefs are threatened by the impacts of a multitude of human activities. Through the notions of social and ecological vulnerability of socio-ecosystems dependent on coral reefs, it is possible to develop a risk management framework that enables us to identify and prioritize the issues at stake. In other words, the human, economic and environmental value of elements exposed to the risks of adverse events. This framework makes it possible to assess the possibilities for actions that lead either to reducing vulnerability by reducing hazard or exposure, or that lead to reinforcing response or adaptation capacity. In this policy brief, we explain the concepts of social and ecological vulnerability, and share examples of indicators for assessing and monitoring them, as well as examples of their use in identifying action plans. |
| Abstract: | Alors qu'ils fournissent des services essentiels aux populations locales, les récifs coralliens sont menacés par les impacts d'une multitude d'activités humaines. À travers les notions de vulnérabilité sociale et écologique des socio-écosystèmes dépendant des récifs coralliens, il est possible de développer un cadre de gestion de risques qui permet d'identifier et de hiérarchiser les enjeux. Autrement dit la valeur humaine, économique et environnementale des éléments exposés aux risques d'événements défavorables. Ce cadre permet d'évaluer les possibilités d'action qui conduisent soit à réduire la vulnérabilité en réduisant l'aléa ou l'exposition, soit à renforcer la capacité de réponse ou d'adaptation. Dans ce policy brief, nous expliquons les concepts de vulnérabilité sociale et écologique, nous partageons des exemples d'indicateurs pour assurer leur évaluation et leur suivi ainsi que des exemples d'usage de ces derniers pour la caractérisation de plans d'action. |
| Keywords: | Coral reef, marine socio-ecosystems, policy recommendations, ecological vulnerability, marine conservation, marine environment, anthropogenic activities, pressures, DPSIR, Marine Environment Framework Directive |
| Date: | 2024–11–15 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04851728 |
| By: | Gries, Christin-Isabel; Tenbrock, Sebastian; Wernick, Christian |
| Abstract: | Bereits seit 2018 sind die großen börsennotierten europäischen Telekommunikationsunternehmen zur Erstellung von Nachhaltigkeitsberichten verpflichtet. Die vorliegende Analyse konzentriert sich auf die ökologischen Teile der Nachhaltigkeitsberichte (Geschäftsjahr 2023) von 16 vertikal integrierten Telekommunikationsunternehmen. Die untersuchten Telekommunikationsunternehmen orientieren sich aktuell an den global verbreiteten und weitgehend branchenübergreifend ausgerichteten Berichterstattungsstandards und Rahmenwerken, welche auch den Ausgangspunkt für die Entwicklung der neuen europäischen ESRS-Standards bildeten. Alle betrachteten Unternehmen streben bis spätestens 2040 "Net Zero" bei ihren Treibhausgas-Emissionen (einschließlich "Scope 3"-Emissionen in der vor- und nachgelagerten Wertschöpfungskette1) in Europa an. Unternehmensübergreifend machen die Scope 3-Emissionen einen außerordentlich hohen Anteil an den Gesamtemissionen aus (typischerweise mehr als 80%). Gezielte Maßnahmen sind ebenso wie die Erfassung der Emissionen aufgrund der komplexen TK-Wertschöpfungssysteme herausfordernd. Für alle Unternehmen ist die Senkung des absoluten Energieverbrauchs angesichts steigender Datenübertragungsvolumen eine große Herausforderung. Daher spielen Maßnahmen zur Steigerung der Energieeffizienz eine zentrale Rolle, unter denen die Umstellung auf energieeffiziente Technologien (Glasfaser, 5G) eine herausgehobene Bedeutung hat. Kreislaufwirtschaftsthemen haben in der bisherigen Nachhaltigkeitsberichterstattung einen vergleichsweise geringen Stellenwert, gewinnen aber an Bedeutung. Erschwerend ist hier, dass Teile der kreislaufwirtschaftsrelevanten Aspekte durch die Unternehmen nur bedingt beeinflussbar sind. Im Vergleich zu Unternehmen aus anderen Branchen treiben die betrachteten Telekommunikationsanbieter die Berücksichtigung von Umwelteffekten aus vermiedenen Emissionen durch die von Kunden genutzten Dienste ("Enablement") stark voran, wobei sich noch kein einheitlicher Ansatz im Umgang mit diesen Effekten herauskristallisiert hat. Insgesamt scheinen die großen europäischen Telekommunikationsunternehmen gut auf die EU-Neuregelungen vorbereitet, wobei im Detail noch ein erheblicher Anpassungsaufwand besteht. Darüber hinaus werden sich in vielerlei Hinsicht in den nächsten Jahren noch gemeinsame Vorgehensweisen unter Berücksichtigung branchenspezifischer Anforderungen entwickeln müssen. |
| Abstract: | Large European telecommunications companies have been obligated to prepare sustainability reports since 2018. Our study has a focus on the ecological aspects of sustainability reports 2023 and refers to 16 European vertically integrated telecommunications companies listed on the stock exchange. Today, the telecommunications companies surveyed are oriented towards the globally widespread and largely cross-industry reporting standards and frameworks, which were also strongly taken into account in the development of the neu European ESRS standards. The companies are aiming for "net zero" greenhouse gas emissions (including "scope 3"- emissions in the value chain) in Europe by 2040 at the latest. Scope 3 accounts for a high share in the total emissions (typically more than 80%). Developing targeted measures as well as assessing the related emissions across the complex telecommunication ecosystems are a challenge. The reduction of absolute energy consumption is a major challenge for all companies due to the increasing data volumes. Therefore, measures to increase energy efficiency play a central role, in particular the switch to energy-efficient technologies such as fibre optics and 5G). Circular economy issues have played a comparatively minor role in sustainability reporting so far, but are becoming increasingly important. However, some relevant aspects of the circular economy can only be influenced by telecommunications companies to a limited extent. Compared to companies from other sectors, the telecommunications companies are strongly driving the consideration of environmental effects from avoided emissions through the services used by customers ("enablement"), although no common approach to dealing with these effects has yet emerged. The major European telecommunications companies are generally well prepared for the new EU regulations, although there is a considerable need for adjustment in detail. In many respects common approaches still need to be developed over the next few years, taking into account industry-specific requirements. |
| Keywords: | Telekommunikationssektor, Nachhaltigkeitsbericht, EU-Staaten |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:wikdps:308072 |
| By: | Valenti, Giulia; Vona, Francesco |
| Abstract: | This paper examines the impact of temperature shocks, measured by cold and heat waves, on labour market outcomes across 14 European countries. Using retrospective individual-level data from the Survey on Health, Ageing, and Retirement in Europe (SHARE) and daily climate data from the E-OBS dataset, we analyze the effect on wages and occupational transition. By leveraging plausibly exogenous weather shocks, we find that heat waves significantly reduce individual income, with losses accumulating over time. Moreover, our analysis documents that older individuals, those with severe health conditions, and workers in heat-exposed occupations experience particularly large income reductions. Losses are also more pronounced in Mediterranean and Eastern European countries, as well as in regions with less regulated wage-setting mechanisms. Additionally, our findings suggest that heat waves increase the likelihood of changing jobs and in particular to transition from heat-exposed to non-heat-exposed occupations. These results underscore the need for targeted policy interventions to mitigate economic losses and protect vulnerable workers in the face of increasing climate variability. |
| Keywords: | Climate Change, Labor and Human Capital |
| Date: | 2024–12–30 |
| URL: | https://d.repec.org/n?u=RePEc:ags:feemwp:348848 |
| By: | Dalal, Harshil |
| Abstract: | Concern over corporate environmental violations is growing. Evidence suggests that corporate misconduct, including violations of environmental regulations, is pervasive. Existing research points to various internal and external factors contributing to such violations. This research seeks to examine a previously unexplored connection: the potential influence of a CEO's political partisanship and ideology on a company's environmental record. The analysis will use upper echelons theory and the ideology-as-values framework to suggest that the political ideologies of CEOs, specifically their position on the liberal-conservative scale, affect their companies' environmental actions. It is hypothesized that a CEO's political partisanship is positively linked to environmental violations by their firm. The study’s findings provide some evidence that relative CEO partisanship does indicate that firms led by more Republican-leaning CEOs are associated with more EPA violations; with firms headed by conservative leaning CEOs having a higher propensity to be investigated for environmental violations by the EPA. |
| Date: | 2024–12–18 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:ubf5d |
| By: | Eleftherios Giovanis (Izmir Bakircay University); Öznur Özdamar (Izmir Bakircay University) |
| Abstract: | The relationship between climate change and violent conflict has been the focus of rigorous scholarly and policy discourse in recent decades. The adverse economic conditions can be a significant conduit that connects the two phenomena. We aim to explore the impact of economic growth and food production indices on conflict. Specifically, the objective is to link the causal path of climatic conditions to economic and food production outcomes and armed conflict. We apply Probit and Instrumental Variable (IV) Probit regressions using a panel of 16 countries in the MENA region, including Iraq and Turkey. We employ weather conditions as instruments for the economic and food production indices. Moreover, we use country dyadic data to examine the impact of shared river basins on conflict. For the incidence of armed conflict, we use the UCDP/PRIO Armed Conflict Dataset in 1960-2022, and for the Gross Domestic Product (GDP), food production indices and climatic conditions, we use data from the World Development Indicators. The findings show that international aid, GDP, and food production indices negatively affect the incidence of conflict, while natural resource rents increase the likelihood of conflict. Regarding the river-shared basins, we find that when the rivers cross the borders, and if two or more countries share a river basin, then the incidence of conflict increases. Future research should further explore the interaction between climatic change and conflict and whether is conditioned by economic, social, political, and demographic factors to understand how they contribute to conflict. |
| Date: | 2024–09–20 |
| URL: | https://d.repec.org/n?u=RePEc:erg:wpaper:1725 |
| By: | Jonathan Colmer; Suvy Qin; John Voorheis; Reed Walker |
| Abstract: | This paper explores the relationships between air pollution, income, wealth, and race by combining administrative data from U.S. tax returns between 1979–2016, various measures of air pollution, and sociodemographic information from linked survey and administrative data. In the first year of our data, the relationship between income and ambient pollution levels nationally is approximately zero for both non-Hispanic White and Black individuals. However, at every single percentile of the national income distribution, Black individuals are exposed to, on average, higher levels of pollution than White individuals. By 2016, the relationship between income and air pollution had steepened, primarily for Black individuals, driven by changes in where rich and poor Black individuals live. We utilize quasi-random shocks to income to examine the causal effect of changes in income and wealth on pollution exposure over a five year horizon, finding that these income–pollution elasticities map closely to the values implied by our descriptive patterns. We calculate that Black-White differences in income can explain ∼10 percent of the observed gap in air pollution levels in 2016. |
| Keywords: | income, wealth, air pollution, inequality |
| JEL: | H00 H40 Q50 R00 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11465 |
| By: | Li, Chao; Keeley, Alexander Ryota; Takeda, Shutaro; Seki, Daikichi; Managi, Shunsuke |
| Abstract: | We create a large language model with high accuracy to investigate the relatedness between 12 environmental, social, and governance (ESG) topics and more than 2 million news reports. The text match pre-trained transformer (TMPT) with 138, 843, 049 parameters is built to probe whether and how much a news record is connected to a specific topic of interest. The TMPT, based on the transformer structure and a pre-trained model, is an artificial intelligence model trained by more than 200, 000 academic papers. The cross-validation result reveals that the TMPT’s accuracy is 85.73%, which is excellent in zero-shot learning tasks. In addition, combined with sentiment analysis, our research monitors news attitudes and tones towards specific ESG topics daily from September 2021 to September 2023. The results indicate that the media is increasing discussion on social topics, while the news regarding environmental issues is reduced. Moreover, towards almost all topics, the attitudes are gradually becoming positive. Our research highlights the temporal shifts in public perception regarding 12 key ESG issues: ESG has been incrementally accepted by the public. These insights are invaluable for policymakers, corporate leaders, and communities as they navigate sustainable decision-making. |
| Keywords: | ESG; News; Natural Language Processing; Pre-trained Transformer; Data Mining; Machine Learning |
| JEL: | G0 H0 M1 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:122757 |
| By: | Jiayue Zhang; Tony S. Wirjanto; Lysa Porth; Ken Seng Tan |
| Abstract: | This paper investigates strategic investments needed to mitigate transition risks, particularly focusing on sectors significantly impacted by the shift to a low-carbon economy. It emphasizes the importance of tailored sector-specific strategies and the role of government interventions, such as carbon taxes and subsidies, in shaping corporate behavior. In providing a multi-period framework, this paper evaluates the economic and operational trade-offs companies face under four various decarbonization scenarios: immediate, quick, slow, and no transitions. The analysis provides practical insights for both policymakers and business leaders, demonstrating how regulatory frameworks and strategic investments can be aligned to manage transition risks while optimizing long-term sustainability effectively. The findings contribute to a deeper understanding of the economic impacts of regulatory policies and offer a comprehensive framework to navigate the complexities of transitioning to a low-carbon economy. |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2501.02383 |
| By: | Moritz A. Drupp; Zachary M. Turk; Ben Groom; Jonas Heckenhahn |
| Abstract: | While the global economy continues to grow, ecosystem services tend to stagnate or decline. Economic theory has shown how such shifts in relative scarcities can be reflected in project appraisal and accounting, but empirical evidence has been sparse to put theory into practice. To estimate relative price changes in ecosystem services to be used for making such adjustments, we perform a global meta-analysis of contingent valuation studies to derive income elasticities of marginal willingness to pay (WTP) for ecosystem services to proxy the degree of limited substitutability. Based on 735 income-WTP pairs from 396 studies, we find an income elasticity of WTP of around 0.6. Combined with good-specific growth rates, we estimate relative price change of ecosystem services of around 1.7 percent per year. In an application to natural capital valuation of forest ecosystem services by the World Bank, we show that natural capital should be uplifted by around 40 percent. Our assessment of aggregate public natural capital yields a larger value adjustment of between 58 and 97 percent, depending on the discount rate. We discuss implications for policy appraisal and for estimates of natural capital in comprehensive wealth accounts. |
| Keywords: | willingness to pay, ecosystem services, income elasticity, limited substitutability, growth, relative prices, contingent valuation, forests, natural capital |
| JEL: | D61 H43 Q51 Q54 Q58 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11500 |
| By: | Varley, Ciara; Lorente, Anna; Novak, Inna; Hoang, Ky; Tho, Pham; Ha, Nguyen; Tessema, Yared Mesfin; Ssekandi, Shamilah Nassozi; Chekol, Dawit Alemayehu; Plazas, Carlos Andrés Rodríguez |
| Abstract: | The transition of city region diets to diets that are more sustainable, healthy and affordable is critically important for environmental, health and food security outcomes. The EcoFoodSystems project aims to work with city-regional stakeholders to identify key needs and priorities for dietary transitions in Hanoi city region that can be enabled by research and innovation. To identify the research needs and priorities of Hanoi city region food systems stakeholders, an EcoFoodSystems Project Research Prioritisation Workshop was held on 24th January 2024 in Hanoi, Vietnam. The workshop introduced food systems stakeholders in the Hanoi city region to the EcoFoodSystems research project and to enable stakeholders to co-create and prioritise research and innovation activities that could be advanced by EcoFoodSystems research project. The EcoFoodSystems workshop brought together sixty participants from diverse sectors and stakeholder organisations, including Government Ministries, UN Agencies, private sector companies, farmer cooperatives, university and research institutes, national and international NGOs and civil society. The workshop attendees shared their expertise in areas spanning nutrition, food systems, policy, consumer safety, climate resilience and urban and peri-urban development. Participants worked together in groups to identify and prioritise research topics and tools for decision-making that should be developed to enable transitions towards diets in Hanoi city region that are more sustainable, healthier and affordable. The workshop had opening speeches from representatives of the EU Delegation to Vietnam, the Vietnam Ministry of Agriculture and Rural Development (MARD), Vietnam Academy of Agricultural Sciences (VAAS), Hanoi Department of Agriculture and Rural Development, the National Institute of Nutrition (Vietnam) and representatives of the EcoFoodSystems project from University of Galway, Rikolto and the Alliance of Bioversity – CIAT. The workshop highlighted the importance of interdisciplinary and cross-sectoral research collaboration for food systems transformation for sustainability, health and affordability outcomes. This EcoFoodSystems workshop report identifies the key research priorities generated by stakeholders during the workshop. |
| Date: | 2024–12–17 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:n86mg |
| By: | Flores, Aldiana; Moreno, Frede |
| Abstract: | This study assesses the effectiveness of Information and Education Campaigns (IECs) in hazardous waste management in the Zamboanga Peninsula, Philippines. Utilizing a mixed-method approach, this research combines quantitative surveys and qualitative interviews to examine the impact of IECs on public awareness, attitudes, and behaviors concerning hazardous waste. The study is framed within the Public Personnel Administration theory of representative bureaucracy, suggesting that public officials who reflect the demographics of the communities they serve can enhance policy implementation effectiveness. Findings reveal that IECs have significantly increased public awareness about hazardous waste risks, with 67% of respondents indicating improved knowledge. However, the translation of awareness into behavioral change is limited, with only 34% adopting safer waste disposal practices. Qualitative data indicate that IECs are more effective when led by local government personnel who are culturally and ethnically representative of the community, enhancing credibility and public trust. The study concludes that while IECs are valuable for raising awareness, achieving comprehensive behavior change requires more robust regulatory framework and culturally competent public personnel. Recommendations include improved training for local government officials and stricter enforcement of waste management policies, contributing to more effective environmental governance in the region. |
| Keywords: | Hazardous waste management, information and education campaigns, Zamboanga Peninsula, public administration, representative bureaucracy. |
| JEL: | A1 A2 Q0 Q1 Q2 Q5 Z0 |
| Date: | 2024–11–26 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:122782 |
| By: | Navarro Ana Inés; Varvello Juan Cruz; Camusso Jorge; Soler María José; Arraigada Julián |
| Abstract: | In this paper, we build a sustainability score to measure the performance of Argentine companies in the Ag-Tech sector in its social and environmental dimensions, by using data from the companies themselves that we collected through own surveys in 2022 and 2023. Then, we use regression models to estimate the effect of the social and environmental performance of companies on two economic performance indicators (revenues and insertion in foreign markets) that adequately signal the scaling potential of startups. Our main results suggest that, beyond the potential of the firms, there is still a long way to go to expand the scope of their social and environmental sustainability. While companies believe they contribute to the achievement of the SDGs and produce carbon-smart results, they could improve web-based communication, which highlights a lack of public commitment to sustainability and inconsistencies with respect to what they declare in our survey. In addition, most of the firms do not have sustainability certificates, nor do they measure the social and environmental impact of the technology they offer. Econometric estimates suggest that social and environmental performance tends to correlate negatively with companies' revenues, although this effect is likely to be reversed for high levels of sustainability, suggesting that consumers “asymmetrically value" different degrees of sustainability. However, we find that better social and environmental performance increases the likelihood of go beyond the boundaries of the local market by accessing foreign markets. |
| JEL: | Q01 Q10 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:aep:anales:4748 |
| By: | Kim, HyeJin; Peterson, Garry; Kim, Hyeonjeong; Kim, Sanha; Pereira, Laura; Cho, Youngcheol; Ahn, SoEun; Harrison, Paula A.; Kim, Junsoo; Koo, Kyung Ah |
| Abstract: | Korea's rapid economic development has positioned it as a key player in Asia's economy and globally, albeit with significant environmental and societal consequences. The Demilitarized Zone (DMZ), serving as a buffer between North and South Korea, holds immense historical, cultural, and ecological value and conservation and transformation potential. This study presents visioning-based exploration of ecologically diverse and peaceful futures of the Korean peninsula with its DMZ as a potential global commons. Through a visioning workshop, stakeholders used the Nature Futures Framework and Seeds of Good Anthropocene to develop four visions that reflect diverse value and meanings of nature for sustainable and wellbeing-oriented futures. The co-developed visions emphasize the importance of harmonizing human activities with nature, envisioning the DMZ as a space for peaceful coexistence and ecological restoration. They offer citizens’ perspectives on sustainable and inclusive futures with existing initiatives as levers and inter-sectoral and inter-disciplinary collaboration as mediums. This visioning highlights the role of science-policy-society interface, diverse stakeholder engagement, integration of history and culture, and convergence of ideas across generations. This paper reflects on the lessons from this process and the implications for the future development of scenarios that can identify policy options and societal transformations to catalyse nature-positive futures in Korea and beyond. |
| Date: | 2024–12–02 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:g3zb4 |
| By: | Richard Damania (World Bank); Pasquale Lucio Scandizzo (University of Rome “Tor Vergata”) |
| Abstract: | This paper examines the economic implications of evolving water availability with a twofold objective. Firstly, it provides an overview of the problem of economic modelling of water in a general equilibrium context. To this aim, it presents both a general discussion of key issues and a review of CGE models that have attempted to deal with water as a key economic input and its direct and indirect influence on markets and well-being. Secondly, it addresses a crucial gap in the research work to date, by developing and implementing a global CGE model that incorporates the economic impacts of both precipitation and total water storage (TWS) – an aggregate measure encompassing soil moisture, surface water, and groundwater. By integrating these key variables, alongside a detailed representation of how water enters in the different value chains, the model provides novel suggestions and a better understanding of how water availability influences economic activity across sectors. Simulation results from the model are then used to provide insights into the question of the “cost of inaction”, that is the failure to engage in proactive economic policies under various water-related scenarios, including those driven by climate change. |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:awm:wpaper:21 |
| By: | Raphael Madzingaidzo; Louie van Schalkwyk; Saul Nurick |
| Abstract: | The construction industry has long been criticised for significantly contributing to global carbon emissions and a large energy consumer. Economies around the world, however, have taken an active role in addressing the construction industry’s carbon footprint and high energy demands by incorporating green technologies and practices in construction projects. Green Building Features and Initiatives (GBFIs) have solved the construction industry’s challenges. The Green Building Council of South Africa (GBCSA) manages and applies tools such as Green Star SA, EDGE, and Net- Zero to assist in incorporating and certifying GBFIs in buildings. A literature review was conducted to identify key drivers and barriers to adopting GBFIs to ensure that the research contributes to a better understanding of these factors in the context of South Africa. The study employed a qualitative research approach comprising multiple case study analyses, where semi-structured interviews were conducted with key stakeholders in the construction industry. The case studies involved five major residential developments in municipalities in the Western Cape and Gauteng Provinces. The study highlighted factors such as client awareness and developer initiative as the key drivers of adopting GBFIs, followed by increased international investment. However, the study yielded many barriers, including financial and government-related barriers in the form of legislation. |
| Keywords: | Energy; Green building features and initiatives (GBFIs); Residential Property; South Africa |
| JEL: | R3 |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:afr:wpaper:2024-030 |
| By: | Raphael Madzingaidzo; Louie van Schalkwyk; Saul Nurick |
| Abstract: | The construction industry has long been criticised for significantly contributing to global carbon emissions and a large energy consumer. Economies around the world, however, have taken an active role in addressing the construction industry’s carbon footprint and high energy demands by incorporating green technologies and practices in construction projects. Green Building Features and Initiatives (GBFIs) have solved the construction industry’s challenges. The Green Building Council of South Africa (GBCSA) manages and applies tools such as Green Star SA, EDGE, and Net- Zero to assist in incorporating and certifying GBFIs in buildings. A literature review was conducted to identify key drivers and barriers to adopting GBFIs to ensure that the research contributes to a better understanding of these factors in the context of South Africa. The study employed a qualitative research approach comprising multiple case study analyses, where semi-structured interviews were conducted with key stakeholders in the construction industry. The case studies involved five major residential developments in municipalities in the Western Cape and Gauteng Provinces. The study highlighted factors such as client awareness and developer initiative as the key drivers of adopting GBFIs, followed by increased international investment. However, the study yielded many barriers, including financial and government-related barriers in the form of legislation. |
| Keywords: | Energy; Green building features and initiatives (GBFIs); Residential Property; South Africa |
| JEL: | R3 |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:afr:wpaper:afres2024-030 |
| By: | Schaub, Sergei; Pfaff, Alexander; Bonev, Petyo |
| Abstract: | Paying farmers for measured outcomes – i.e., results, not actions - is promoted for reducing risk and raising flexibility in addressing agriculture’s environmental damages. One key design choice is how exactly to reward those measured results. Continuous rewards are possible yet, in practice, observed species outcomes have been rewarded using a single threshold (compliant/not) or, to move toward continuity, a few thresholds (e.g., low-medium-high). We assess whether more continuous rewards – specifically, multiple target thresholds for plant species - raised bird diversity. We study a pilot scheme in Germany’s Lower Saxony, where an incentive with one threshold is the baseline. Using citizen-science bird data (offering over 6.7m entries across 16 years), we find that the pilot scheme using multiple target thresholds for plant species raised bird diversity versus the single-threshold baseline (same lower threshold, but no further thresholds). Our findings show potential for benefits from even small shifts in incentive designs. |
| Keywords: | Agricultural policy, Policy design, Agri-environmental payments, Results-based payments, Biodiversity, Birds |
| JEL: | Q15 Q18 Q57 |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:usg:econwp:2025:02 |
| By: | Alessandra Hidalgo-Arestegui; Patricia Justino; Gabriel Monteiro; Rodrigo Oliveira; Bruce Sianyeuka |
| Abstract: | This paper exploits several waves of two major nationwide representative surveys to document the impacts of climate shocks on individuals and households in Zambia. We merge these datasets with historical precipitation and temperature data at the district level. First, we show the gendered effects of the shocks, which have a higher negative impact on women. Women have a lower probability of being in the labour force and fewer hours of work when experiencing shocks. |
| Keywords: | Zambia, Climate shocks, Labour, Gender, Consumption |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:unu:wpaper:wp-2024-86 |
| By: | Nerlich, Carolin; Köhler-Ulbrich, Petra; Andersson, Malin; Pasqua, Carlo; Abraham, Laurent; Bańkowski, Krzysztof; Emambakhsh, Tina; Ferrando, Annalisa; Grynberg, Charlotte; Groß, Johannes; Hoendervangers, Lucia; Kostakis, Vasileios; Momferatou, Daphne; Rau-Goehring, Matthias; Rariga, Erzsebet-Judit; Rusinova, Desislava; Setzer, Ralph; Spaggiari, Martina; Tamburrini, Fabio; Simon, Josep Maria Vendrell; Vinci, Francesca |
| Abstract: | The green transition of the EU economy will require substantial investment to 2030 and beyond. Estimates of green investment needs vary between institutions and are surrounded by high uncertainty, but they all point to a requirement for faster and more ambitious action. Green investment will need to be financed primarily by the private sector. While banks are expected to make a key contribution to funding the green transition, capital markets need to deepen further, especially to support innovation financing. Progress on the capital markets union would support the green transition. Public funds will be vital to complement and de-risk private green investment. Structural reforms and enhanced business conditions should be tailored to encourage firms, households and investors to step up their green investment activities. JEL Classification: E22, E44, G21, Q41, Q50, Q58 |
| Keywords: | financing, fiscal policy, green transition, investment, structural policy |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:ecb:ecbops:2025367 |
| By: | Jones, Francis; Leon, Daniel; Skerrette, Nyasha; Mkrtchyan, Iskuhi |
| Abstract: | This study presents a statistical analysis of the situation of AMCs, based on the data that is available, shedding light on their distinct circumstances. It reveals that while AMCs boast higher GDP per capita than many Caribbean member States, their economies have had low growth and are highly dependent on trade, with some territories recording concerning levels of public debt. Socially, the AMCs face an ageing population, varied poverty levels, and have disparate social protection systems. Environmentally, they face challenges due to disasters arising from natural hazards, although there has been some progress in reducing Greenhouse Gas (GHG) emissions through improved energy efficiency. |
| Date: | 2024–12–30 |
| URL: | https://d.repec.org/n?u=RePEc:ecr:col033:81172 |
| By: | Leah Cabrera; Dontá Council; Grace Meagher |
| Abstract: | Weather-related disaster risks have adverse economic impacts for workers, households, and communities across the country. Low-income communities and communities of color tend to be at disproportionate risk to economic disruptions from weather-related disasters. Our team surveyed and interviewed professionals in the Southeast that work with or whose work impacts these marginalized communities across core issue areas relevant to community development, resilience, and disaster risk management in the nonprofit, public, and private sectors. Respondents and interviewees shared their perceptions of how weather-related disaster risks may be affecting the communities they serve as well as the work of their respective organizations. Findings suggest that while professionals working in underserved communities in the Southeast are generally aware of weather-related disaster vulnerabilities and some play active roles managing these risks, many lack necessary expertise and resources to feel prepared to navigate future disaster risks. For individuals, factors that contribute to their inability to prepare for and respond to disaster risks include lack of financial capacities (for example, savings, insurance) and lack of affordable housing. We provide insights into the potential role of the community development organizations and resilience professionals in responding to these needs. |
| Keywords: | weather-related disaster; disaster risk; resilience; climate change |
| JEL: | Q54 H83 L31 |
| Date: | 2024–06–01 |
| URL: | https://d.repec.org/n?u=RePEc:fip:fedacd:99443 |
| By: | Salaudeen, Yinka Mashood |
| Abstract: | This paper studied the interplay between taxation as a source of revenue (tax) and taxation as a tax system comprising of tax policy, tax legislation and tax administration and the Sustainable Development Goals (SDGs) of the UN. It also investigated the interaction of SDGs and the various components of a tax system. The paper adopted a library research design because of its theoretical nature and used mostly internet resources. The paper found that taxation can promote the attainment of all the 17 goals of Sustainable Development as a source of revenue and as a system can be used to attain these goals but can also be subverted by them. It also found that tax administration is the most important component of a tax system. Furthermore, findings showed that SDGs can affect all the components of a tax system. This paper, therefore, recommended judicious application of tax revenue and a strong and good tax system especially an effective tax administration that is perceived to be fair and equitable to be able to attain the SDGs. |
| Keywords: | Tax, Taxation, Eco-development, Appropriate Technology, Sustainable Development |
| JEL: | E0 O1 O2 O50 |
| Date: | 2024–03–01 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:123005 |
| By: | International Monetary Fund |
| Abstract: | While agricultural output suffers from yet another drought, non-agricultural output has remained robust, and domestic demand is strengthening. Nonetheless, unemployment has increased. Inflationary pressures have abated, allowing BAM to cut the policy rate in June 2024. The fiscal deficit is on track to meet the 2024 budget target, with stronger-than-expected revenues offset by increased current spending. Strong revenues from tourism, exports of goods, and remittances have kept the current account deficit to low levels. Morocco continues to make progress in bolstering its resilience against climate change and seizing the opportunities from decarbonization, under the RSF arrangement. Significant investments in water infrastructure aim at addressing water scarcity and will need to be complemented by demand management reforms. Continued progress toward liberalizing the electricity markets, a key dimension of the RSF, is needed to boost private sector participation in renewable energies (RE). This will not only help Morocco achieve its NDC targets but would also reduce its reliance on imported fuels, improve firms’ competitiveness, and help create jobs. |
| Keywords: | RSF arrangement; assessment letter; decarbonization strategy; RSF reform measure; E. WB engagement; Climate finance; Electricity; Renewable energy; Non-renewable resources; Middle East; North Africa; East Africa; Global |
| Date: | 2024–11–25 |
| URL: | https://d.repec.org/n?u=RePEc:imf:imfscr:2024/324 |
| By: | Auffhammer, Maximilian; McLaughlin, David W.; Spiller, Beia (Resources for the Future); Sunding, David L.; Frank, Eyal G. |
| Abstract: | Protecting species’ habitats is the main policy tool employed across the globe to reduce biodiversity losses. These protections are hypothesized to conflict with private landowners’ interests. We study the economic consequences of the most extensive and controversial piece of such environmental legislation in US history—the Endangered Species Act (ESA) of 1973. We assemble the most comprehensive data on species conservation efforts, land transactions, and building permits to date. By comparing parcels with identical histories of protections we show that, on average, the ESA shifts transactions from inside to outside of the protected area and leads to a slight appreciation in residential and vacant land values outside of critical habitats. We also show that the federal regulator determines borders for areas with the most stringent protections to avoid large effects on land values, only where it is explicitly allowed to take economic criteria into account. These average findings mask significant heterogeneity at the species and location level, which we document. Furthermore, we find no evidence of the ESA affecting building activity as measured by construction permits. Overall, even taking into account species-level heterogeneity, the number of possibly negatively affected parcels is extremely small. This suggests that the capitalization of the eco-nomic impacts of the ESA through the land market channel are likely minor, despite potential delays to development through permitting, for which we provide suggestive evidence. Our findings do not rule out economically significant impacts in a few highly constrained land markets with ESA protections amplified by local regulatory action. |
| Date: | 2025–01–13 |
| URL: | https://d.repec.org/n?u=RePEc:rff:dpaper:dp-25-01 |
| By: | Adetoun Otepola |
| Abstract: | This research delves into the transformative power of Human-Centred Design (HCD) in Accra, Ghana, exploring its impact on smart city planning and the well-being of its occupants. By embracing a human-centric approach, Accra has revolutionized its built environment, prioritizing collaboration, sustainability, and the satisfaction of its diverse population. In the vibrant metropolis of Accra, Ghana, a groundbreaking approach to smart city planning has emerged, placing humans at the heart of its design. Recognising the intrinsic value of its occupants, Ghana has adopted Human-Centered Design (HCD) as a guiding principle in urban development. This approach aims to create a city that caters to the needs, aspirations, and well-being of its diverse population. By prioritizing human- centric design, Ghana strives to enhance sustainability, foster collaboration, and improve the overall quality of life for its citizens. This case study explores the transformative impact of HCD in Accra, showcasing how a human- centric approach can drive change and inspire smart cities globally. Mixed-methods research design, combining qualitative and quantitative data collection and analysis techniques were used. The study focuses on Accra, Ghana, as a leading example of a smart city that has successfully adopted HCD principles in urban planning. Qualitative and quantitative methods were employed. The qualitative techniques included in-depth semi-structured interviews conducted with key stakeholders, including city planners, designers, technology experts, and occupants from diverse backgrounds. These interviews provided valuable insights into the decision-making processes, challenges, and perceived impacts of HCD in Accra. In addition, focus groups were held with occupants from different neighborhoods and demographic groups to understand their experiences, satisfaction levels, and perceptions of HCD practices. This allowed for a deeper exploration of the human element and its impact on the built environment. The researchers also spent time in selected HCD-implemented spaces, observing interactions, collaboration, and the overall user experience. This provided a firsthand perspective on how HCD principles translate into daily life in Accra. The quantitative aspects included a survey administered to a representative sample of Accra residents to quantify their satisfaction levels, perceived benefits, and areas for improvement regarding HCD practices. Performance metrics including building performance data, including energy consumption, waste management efficiency, and equipment lifespan, were analysed to evaluate the impact of HCD on sustainability and overall city efficiency. Advanced statistical techniques, including regression analysis and correlation studies, were applied to survey and performance data to identify patterns and relationships.The findings of this case study highlight the profound impact of HCD in Accra’s smart city planning:Occupant Satisfaction: Qualitative and quantitative data revealed exceptionally high levels of occupant satisfaction with HCD practices. Occupants felt valued, heard, and appreciated the collaborative nature of the city’s infrastructure. Focus group discussions uncovered themes of increased community engagement, improved quality of life, and a sense of belonging.Collaboration: HCD principles fostered a culture of collaboration between occupants, city planners, and designers, leading to co-created solutions and enhanced decision-making.Sustainability: The integration of sustainable practices, such as energy-efficient technologies and eco- friendly materials, reduced environmental impacts and enhanced the city’s resilience.Well-being: HCD approaches improved overall well-being through access to green spaces, community engagement, and improved air quality.Accra’s transformative journey towards becoming a human-centric smart city showcases the immense potential for HCD to drive innovation, enhance social equity, and improve the citizen experience. By prioritizing collaboration, sustainability, and occupant satisfaction, Accra has set a precedent for urban planning on a global scale. The mixed-methods research design revealed significant impacts on various aspects of city management, underscoring the importance of placing humans at the heart of smart city development. This case study on Accra, Ghana, presents compelling evidence of the transformative power of Human-Centered Design in smart city planning. Through a human-centric approach, Accra has revolutionized its built environment, enhancing collaboration, efficiency, and social equity. The findings highlight how HCD can shape a future where cities are designed around positive human experiences and aspirations. As urban planning continues to evolve, adopting HCD principles can foster inclusive, thriving, and resilient communities. Effective design, especially design that is concerned with complex problems, requires community involvement. In addition, smart cities are an example of complex environments that require community involvement in design to achieve effective and impactful results. This study analysed the far-reaching implications of HCD and its potential to enhance social equity and shape a future centred around positive human experiences. The findings showcase Accra’s successful journey towards becoming a responsive, efficient, and inclusive smart city, offering valuable lessons for urban planning worldwide. This paper highlights how HCD principles have been applied in Accra’s urban planning and the resulting positive outcomes for its citizens. |
| Keywords: | Accra; collaboration, sustainability; Ghana; HCD; Human-centred Design; occupant satisfaction; smart city planning; Social equity; Urban Planning; Well-Being |
| JEL: | R3 |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:afr:wpaper:afres2024-015 |
| By: | Adetoun Otepola |
| Abstract: | This research delves into the transformative power of Human-Centred Design (HCD) in Accra, Ghana, exploring its impact on smart city planning and the well-being of its occupants. By embracing a human-centric approach, Accra has revolutionized its built environment, prioritizing collaboration, sustainability, and the satisfaction of its diverse population. In the vibrant metropolis of Accra, Ghana, a groundbreaking approach to smart city planning has emerged, placing humans at the heart of its design. Recognising the intrinsic value of its occupants, Ghana has adopted Human-Centered Design (HCD) as a guiding principle in urban development. This approach aims to create a city that caters to the needs, aspirations, and well-being of its diverse population. By prioritizing human- centric design, Ghana strives to enhance sustainability, foster collaboration, and improve the overall quality of life for its citizens. This case study explores the transformative impact of HCD in Accra, showcasing how a human- centric approach can drive change and inspire smart cities globally. Mixed-methods research design, combining qualitative and quantitative data collection and analysis techniques were used. The study focuses on Accra, Ghana, as a leading example of a smart city that has successfully adopted HCD principles in urban planning. Qualitative and quantitative methods were employed. The qualitative techniques included in-depth semi-structured interviews conducted with key stakeholders, including city planners, designers, technology experts, and occupants from diverse backgrounds. These interviews provided valuable insights into the decision-making processes, challenges, and perceived impacts of HCD in Accra. In addition, focus groups were held with occupants from different neighborhoods and demographic groups to understand their experiences, satisfaction levels, and perceptions of HCD practices. This allowed for a deeper exploration of the human element and its impact on the built environment. The researchers also spent time in selected HCD-implemented spaces, observing interactions, collaboration, and the overall user experience. This provided a firsthand perspective on how HCD principles translate into daily life in Accra. The quantitative aspects included a survey administered to a representative sample of Accra residents to quantify their satisfaction levels, perceived benefits, and areas for improvement regarding HCD practices. Performance metrics including building performance data, including energy consumption, waste management efficiency, and equipment lifespan, were analysed to evaluate the impact of HCD on sustainability and overall city efficiency. Advanced statistical techniques, including regression analysis and correlation studies, were applied to survey and performance data to identify patterns and relationships.The findings of this case study highlight the profound impact of HCD in Accra’s smart city planning:Occupant Satisfaction: Qualitative and quantitative data revealed exceptionally high levels of occupant satisfaction with HCD practices. Occupants felt valued, heard, and appreciated the collaborative nature of the city’s infrastructure. Focus group discussions uncovered themes of increased community engagement, improved quality of life, and a sense of belonging.Collaboration: HCD principles fostered a culture of collaboration between occupants, city planners, and designers, leading to co-created solutions and enhanced decision-making.Sustainability: The integration of sustainable practices, such as energy-efficient technologies and eco- friendly materials, reduced environmental impacts and enhanced the city’s resilience.Well-being: HCD approaches improved overall well-being through access to green spaces, community engagement, and improved air quality.Accra’s transformative journey towards becoming a human-centric smart city showcases the immense potential for HCD to drive innovation, enhance social equity, and improve the citizen experience. By prioritizing collaboration, sustainability, and occupant satisfaction, Accra has set a precedent for urban planning on a global scale. The mixed-methods research design revealed significant impacts on various aspects of city management, underscoring the importance of placing humans at the heart of smart city development. This case study on Accra, Ghana, presents compelling evidence of the transformative power of Human-Centered Design in smart city planning. Through a human-centric approach, Accra has revolutionized its built environment, enhancing collaboration, efficiency, and social equity. The findings highlight how HCD can shape a future where cities are designed around positive human experiences and aspirations. As urban planning continues to evolve, adopting HCD principles can foster inclusive, thriving, and resilient communities. Effective design, especially design that is concerned with complex problems, requires community involvement. In addition, smart cities are an example of complex environments that require community involvement in design to achieve effective and impactful results. This study analysed the far-reaching implications of HCD and its potential to enhance social equity and shape a future centred around positive human experiences. The findings showcase Accra’s successful journey towards becoming a responsive, efficient, and inclusive smart city, offering valuable lessons for urban planning worldwide. This paper highlights how HCD principles have been applied in Accra’s urban planning and the resulting positive outcomes for its citizens. |
| Keywords: | Accra; collaboration, sustainability; Ghana; HCD; Human-centred Design; occupant satisfaction; smart city planning; Social equity; Urban Planning; Well-Being |
| JEL: | R3 |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:afr:wpaper:2024-015 |
| By: | Average Chigwenya; Emmanuel Kanyamaure; Hillary Mbombo |
| Abstract: | This study examines GIS-integrated design management practices in Zimbabwean infrastructure development projects through a web-based survey of 198 respondents. Despite development efforts, Bulawayo faces persistent project management challenges, including issues with stakeholder coordination, design quality, and environmental sustainability. These difficulties have led to project failures, wasted resources, and unmet needs, exacerbated by the underutilisation of GIS-integrated design management. The study seeks to identify the root causes of these challenges and propose solutions to improve project success rates in Bulawayo. Firstly, the study aims to examine the current practices of GIS-integrated design management in Zimbabwe's IDPs, providing a comprehensive overview of how these practices are implemented and utilised. Second, it seeks to analyse how the integration of GIS in design management can enhance environmental sustainability in IDPs, exploring the potential for GIS technologies to contribute to more eco-friendly infrastructure projects. Third, the study will evaluate the role of GIS-integrated design management in improving the success of infrastructure development projects through enhanced stakeholder collaboration, highlighting the benefits of improved communication and coordination among project stakeholders. Finally, the study will assess the impact of GIS-integrated design management on cost efficiency in infrastructure development projects, examining how these practices can lead to cost savings and more efficient use of resources. The results indicate that Design Thinking and Agile Design are the most prevalent methodologies, with mean scores of 3.6549 and 3.6429, respectively. These methods are favoured for their iterative, flexible, and user-centric approaches, which align well with the evolving demands of infrastructure projects. The analysis shows a moderate positive correlation (r = 0.265) between integrated design management and environmental sustainability, which is statistically significant (p = 0.000). This suggests that enhanced design management practices are linked to better environmental outcomes. Additionally, there is a significant correlation (r = 0.268, p = 0.01) between integrated design management and stakeholder collaboration, indicating that these practices improve collaboration by providing shared platforms for communication and project information. Conversely, the correlation between integrated design management and cost efficiency is minimal (r = 0.043, p = 0.552), suggesting that these practices do not significantly influence cost efficiency. A positive but modest correlation (r = 0.249) with project success, significant at the 0.01 level, implies that effective design management practices contribute to project success, though the impact is moderate. Based on these findings, it is recommended to continue developing and integrating Design Thinking and Agile Design methodologies to enhance project management effectiveness. Furthermore, to maximise the positive impact on environmental sustainability, it is advisable to deepen the integration of GIS tools that support environmental management and regulatory compliance. Investment in advanced GIS tools that facilitate real-time collaboration and data sharing can also improve stakeholder engagement and project alignment. The study makes significant contributions to the practical use of GIS integration in design management, which is an emerging and developing practice in infrastructure development projects considering the rapid pace and development of technology. |
| Keywords: | Design Management; Environmental Sustainability; GIS; Infrastructure development; Project Success |
| JEL: | R3 |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:afr:wpaper:afres2024-048 |
| By: | Average Chigwenya; Emmanuel Kanyamaure; Hillary Mbombo |
| Abstract: | This study examines GIS-integrated design management practices in Zimbabwean infrastructure development projects through a web-based survey of 198 respondents. Despite development efforts, Bulawayo faces persistent project management challenges, including issues with stakeholder coordination, design quality, and environmental sustainability. These difficulties have led to project failures, wasted resources, and unmet needs, exacerbated by the underutilisation of GIS-integrated design management. The study seeks to identify the root causes of these challenges and propose solutions to improve project success rates in Bulawayo. Firstly, the study aims to examine the current practices of GIS-integrated design management in Zimbabwe's IDPs, providing a comprehensive overview of how these practices are implemented and utilised. Second, it seeks to analyse how the integration of GIS in design management can enhance environmental sustainability in IDPs, exploring the potential for GIS technologies to contribute to more eco-friendly infrastructure projects. Third, the study will evaluate the role of GIS-integrated design management in improving the success of infrastructure development projects through enhanced stakeholder collaboration, highlighting the benefits of improved communication and coordination among project stakeholders. Finally, the study will assess the impact of GIS-integrated design management on cost efficiency in infrastructure development projects, examining how these practices can lead to cost savings and more efficient use of resources. The results indicate that Design Thinking and Agile Design are the most prevalent methodologies, with mean scores of 3.6549 and 3.6429, respectively. These methods are favoured for their iterative, flexible, and user-centric approaches, which align well with the evolving demands of infrastructure projects. The analysis shows a moderate positive correlation (r = 0.265) between integrated design management and environmental sustainability, which is statistically significant (p = 0.000). This suggests that enhanced design management practices are linked to better environmental outcomes. Additionally, there is a significant correlation (r = 0.268, p = 0.01) between integrated design management and stakeholder collaboration, indicating that these practices improve collaboration by providing shared platforms for communication and project information. Conversely, the correlation between integrated design management and cost efficiency is minimal (r = 0.043, p = 0.552), suggesting that these practices do not significantly influence cost efficiency. A positive but modest correlation (r = 0.249) with project success, significant at the 0.01 level, implies that effective design management practices contribute to project success, though the impact is moderate. Based on these findings, it is recommended to continue developing and integrating Design Thinking and Agile Design methodologies to enhance project management effectiveness. Furthermore, to maximise the positive impact on environmental sustainability, it is advisable to deepen the integration of GIS tools that support environmental management and regulatory compliance. Investment in advanced GIS tools that facilitate real-time collaboration and data sharing can also improve stakeholder engagement and project alignment. The study makes significant contributions to the practical use of GIS integration in design management, which is an emerging and developing practice in infrastructure development projects considering the rapid pace and development of technology. |
| Keywords: | Design Management; Environmental Sustainability; GIS; Infrastructure development; Project Success |
| JEL: | R3 |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:afr:wpaper:2024-048 |
| By: | Basistha, Ahana (Indian Statistical Institute); Prakash, Nishith (Northeastern University); Sherif, Raisa (Max Planck Institute for Tax Law and Public Finance) |
| Abstract: | Urban waste management challenges pose significant health and economic consequences. Although source-level waste segregation offers a promising solution, its success depends on household participation. Through a randomized controlled trial in the capital city of Bihar, India, we evaluate how light-touch messaging interventions influence household waste management practices. Our results reveal a stark behavioral disconnect: while interventions increased financial contributions to waste segregation initiativesby 9.6 - 11.7 percent compared to the control group, they failed to improve actual waste segregation practices. This gap between financial support and behavioral change highlights the complexity of promoting sustainable waste management practices in urban households. |
| Keywords: | willingness to contribute, household waste management, religious messaging, civic messaging, waste segregation, field experiment, India |
| JEL: | D01 D91 C93 Q53 O13 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp17508 |
| By: | Efing, Matthias (HEC Paris); Ehmann, Stefanie (University of Tübingen); Kampkötter, Patrick (University of Tuebingen); Moritz, Raphael (University of Tuebingen) |
| Abstract: | This paper examines the integration of ESG performance metrics into executive compensation using a detailed panel dataset of European executives. Despite becoming more widespread, most ESG metrics are largely discretionary, carry immaterial weights in payout calculations, and contribute little to executive pay risk. Such ESG metrics with arguably weak incentive power are common in financial firms and large companies, particularly for their most visible executives, which seems consistent with greenwashing. In contrast, binding ESG metrics with significant weights, which have potential to influence incentives, are only found in sectors with a large environmental footprint. |
| Keywords: | executive compensation; ESG; optimal contracts; sustainability; incentive pay; performance pay; CSR; ESG contracting; ESG metrics |
| JEL: | G30 |
| Date: | 2024–10–02 |
| URL: | https://d.repec.org/n?u=RePEc:ebg:heccah:1507 |
| By: | Afaf Zarkik |
| Abstract: | This paper was originally published on iai.it Europe’s natural gas system experienced unprecedented stress following Russia’s invasion of Ukraine. Since the outbreak of the war, the European Union has strived to secure alternative supplies, fill its gas storage facilities and reduce consumption. Success on these fronts was enabled by fundamental market changes that the bloc unlocked during a long period of low gas prices over the past two decades, in addition to emergency and diplomatic initiatives launched by the European Commission to seek alternative energy supplies. North Africa stood out as a key partner to secure additional volumes, owing to its geographic proximity, existing pipeline interconnections and natural resources. In this regard, the energy crisis has served as a catalyst to re-launch EU–North Africa cooperation, with natural gas – recognised as a transition fuel – set to play an important role well into the future. More needs to be done in the region in terms of efficiency, declining domestic demand and improved green energy resources, however, if the full potential of this opportunity is to be achieved. A revived EU–North Africa relationship, based on genuine and equal footing, could help resolve future energy predicaments, while generating growth, high-value jobs and spurring innovation. |
| Date: | 2023–09 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:rpcoen:rpnn_76 |
| By: | Thompson, Bethan; Akaichi, Faical; Toma, Luiza |
| Abstract: | Single-use disposable cups are a significant contributor to plastic waste due to their widespread use and limited recyclability. Policymakers worldwide are implementing measures to reduce their consumption and encourage reusable alternatives. This study evaluates the impact of regulatory measures (charges and discounts), persuasion (environmental information prompts), and consumer motivations (using Protection Motivation Theory) on preferences for single-use, refillable, and returnable cups. Using discrete choice experiments with a nationally representative sample, we find that a charge of 25–30 pence is required to reduce single-use cup selection by 50%, whereas a discount of at least 70 pence achieves a similar effect. Information prompts have minimal influence on choices, while environmentally motivated consumer segments demonstrate greater responsiveness to discounts. These findings provide actionable, evidence-based insights for policymakers and industry stakeholders, supporting the design of effective interventions to accelerate the transition from single-use to reusable systems. |
| Date: | 2024–11–26 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:e2da7 |
| By: | Qu, Chunzi (Dept. of Business and Management Science, Norwegian School of Economics); Bang, Rasmus Noss (SNF - Centre for Applied Research at NHH); Sandal, Leif K. (Dept. of Business and Management Science, Norwegian School of Economics); Steinshamn, Stein Ivar (Dept. of Business and Management Science, Norwegian School of Economics) |
| Abstract: | This paper examines the integration of hydrogen storage in renewable-intensive energy sys tems. Current hydrogen storage technology is too costly and inefficient, but reducing hydrogen costs to 12.5% of current levels and increasing round-trip efficiency to 70% could make it com petitive. These are challenging targets but feasible given positive predictions on cost reduction and efficiency attainability currently. Hydrogen storage reduces total energy system costs by partly replacing lithium batteries to lower storage costs, due to its suitability for long-term storage, while increasing grid flexibility to lower transmission costs. Moreover, integrating hydrogen can decrease the share of nuclear and fossil fuels in the generation mix, reducing generation costs. Italy and Germany are identified as primary targets for hydrogen expansion in Europe. In scenarios of limited lithium supply, hydrogen becomes more competitive and essential to compensate for system storage capacity shortages, though it may not reduce total system costs. |
| Keywords: | European energy system; Hydrogen storage; Optimization model; Storage capacity expansion |
| JEL: | Q40 Q50 |
| Date: | 2025–01–13 |
| URL: | https://d.repec.org/n?u=RePEc:hhs:nhhfms:2025_001 |
| By: | Conteduca, Francesco Paolo; Panon, Ludovic |
| Abstract: | Industries are not fully geographically concentrated, so that natural disasters can affect the degree of competition in the industry, forcing firms to adapt, and have aggregate consequences. Using administrative data, we show that natural disasters in Italy lead to a persistent decline in markups of affected manufacturing firms, particularly large ones. We implement an oligopolistic competition model with idiosyncratic shocks directly on the firm-level data and quantify how markup adjustments shape aggregate productivity and welfare. Our findings suggest that markup adjustments may have mitigated the impact of the 2012 Italian earthquake on aggregate productivity by approximately 30%. |
| Keywords: | Natural Disasters; Markups; Oligopolistic Competition; Aggregate Productivity; Misallocation; Firm Heterogeneity |
| JEL: | D22 D43 O47 Q54 |
| Date: | 2024–12–17 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:123008 |
| By: | Sebastian Leutner; Benedikt Gloria; Sven Bienert |
| Abstract: | The study examined whether green buildings enjoy more favourable financing terms than their non-green counterparts, exploring the presence of a green discount in commercial real estate lending. Despite the extensive research on green premiums on the equity side, lending has received limited attention in the literature, although regulations have increased and ambitious net-zero targets have been set in the banking sector. The authors used a unique dataset comprising European commercial loan data from 2018 to 2024, with a total loan value exceeding €30 billion. Hedonic regression analysis was used to isolate a potential green discount. Property assessments conducted by lenders were used to investigate whether green properties exhibit lower interest rate spreads and higher loan-to-value (LTV) ratios. The findings reveal the existence of a green discount in European commercial real estate lending, with green buildings enjoying a 5.35% lower contracted loan spread and a 3.92% lower target spread compared to their non-green counterparts. The analysis indicated no distinct advantage regarding LTV ratios for green buildings. The research contributes to a deeper understanding of the interaction between green properties and commercial real estate lending, offering valuable insights for lenders and investors. The study represents the first of its kind in Europe and provides empirical evidence for a green discount’s presence. |
| Keywords: | Commercial real estate lending; Financing; Green Buildings; loan-to-value ratio |
| JEL: | R3 |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:afr:wpaper:2024-006 |
| By: | Sebastian Leutner; Benedikt Gloria; Sven Bienert |
| Abstract: | The study examined whether green buildings enjoy more favourable financing terms than their non-green counterparts, exploring the presence of a green discount in commercial real estate lending. Despite the extensive research on green premiums on the equity side, lending has received limited attention in the literature, although regulations have increased and ambitious net-zero targets have been set in the banking sector. The authors used a unique dataset comprising European commercial loan data from 2018 to 2024, with a total loan value exceeding €30 billion. Hedonic regression analysis was used to isolate a potential green discount. Property assessments conducted by lenders were used to investigate whether green properties exhibit lower interest rate spreads and higher loan-to-value (LTV) ratios. The findings reveal the existence of a green discount in European commercial real estate lending, with green buildings enjoying a 5.35% lower contracted loan spread and a 3.92% lower target spread compared to their non-green counterparts. The analysis indicated no distinct advantage regarding LTV ratios for green buildings. The research contributes to a deeper understanding of the interaction between green properties and commercial real estate lending, offering valuable insights for lenders and investors. The study represents the first of its kind in Europe and provides empirical evidence for a green discount’s presence. |
| Keywords: | Commercial real estate lending; Financing; Green Buildings; loan-to-value ratio |
| JEL: | R3 |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:afr:wpaper:afres2024-006 |
| By: | Mohamed Ismail Sabry (Erasmus University Rotterdam) |
| Abstract: | This paper investigates how the comparative power of various state and society actors and their collective utilities from the green transition—as reflected in their perceived losses or gains from the transition—affect the prospects of the energy transition in the Arab region. The paper begins with a theoretical discussion that maps out the important actors related to the green transition and their comparative power, identifying them as the state, labor, big business tycoons, and small and medium enterprise (SME) entrepreneurs. Then, the various actors’ utilities from the green transition are considered, where the sources of the different utilities are derived from the effect of industrial policies that impact the green transition. The main focus here is on the development of linkages, structural transformation, and energy subsidization policies. This discussion leads to the formulation of a theoretical mathematical model, from which several hypotheses are derived. After the theoretical model is translated into a regression model, the paper discusses the results and how they compare to the hypotheses, followed by a brief analysis of some case studies to better understand the results. The paper concludes that in countries with a more dominant state and weaker social actors, the green transition is more likely to primarily follow the interests of the state regardless of social actors’ interests. In more balanced state-society relations, however, the higher the interests of the various social actors, the more likely the green transition will proceed. In these settings, the green transition should be supported by tycoons and entrepreneurs through more innovation-fostering policies, labor through better structural transformation policies, and both tycoons and labor through lower energy subsidies. |
| Date: | 2024–09–20 |
| URL: | https://d.repec.org/n?u=RePEc:erg:wpaper:1724 |
| By: | Amira Elayouty (Cairo University); Hala Abou-Ali (Cairo University) |
| Abstract: | This paper explores the relationship between climate conditions and poverty in Egypt at a subnational level, considering various factors and estimation techniques. Using a functional data analysis (FDA), this paper explores the long-term effects of summer temperatures, winter temperatures, and precipitation on poverty across Egypt. The FDA results highlight the evolving relationship between temperature changes and poverty, emphasizing the heightened influence of summer temperatures on poverty rates over the past three decades. Additionally, the contrast in temperature dynamics before and after 1985 emerges as a significant predictor. A geographically weighted regression model reveals distinct patterns in different areas. The paper contributes to understanding the climate-poverty nexus and emphasizes the need for tailored strategies at the local level for climate resilience and poverty alleviation. |
| Date: | 2024–08–20 |
| URL: | https://d.repec.org/n?u=RePEc:erg:wpaper:1710 |
| By: | LPEM FEB UI; Australian National University; IESR; The SMERU Research Institute |
| Keywords: | energy transition, inclusive, decarbonization, welfare, vulnerable groups |
| URL: | https://d.repec.org/n?u=RePEc:agg:wpaper:4222 |
| By: | Tengjiao Chen; Daniel H. Karney |
| Abstract: | This study constructs a novel analytical general equilibrium model to compare environmental policies in a setting where oligopolistic energy firms engage in third-degree price discrimination across residential consumers and industrial firms. Closed-form solutions demonstrate the impact on prices and quantities. The resulting welfare change is decomposed across three distortions: output, price discrimination, and externality. This study finds that the output distortion and price discrimination welfare effects generally move in opposite directions under policies such as an emission tax or a two-part instrument. Numerical analysis compares policies and finds scenarios where the output distortion and price discrimination welfare changes fully offset and thus leaves the net welfare gain of the externality correction. In this way, environmental policy can be designed to mitigate output distortion welfare concerns when firms have market power. |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2501.03114 |
| By: | Smyth, Russell; Vespignani, Joaquin |
| Abstract: | We thank the Department of Industry, Science and Resources (DISR) for the opportunity to contribute to the development of a national critical minerals strategy. We agree with the DISR that Australia has a narrow window of opportunity to capitalize on the very high demand and prices of critical minerals in order to become the world leader in clean energy production. While the Discussion Paper touches on several issues relevant to developing a critical minerals sector in Australia, our submission focuses on achieving a level of investment and output in the sector, consistent with global decarbonization and global net zero by 2050. Specifically, we proffer a tax reform proposal in the form of a Decarbonization Corporate Bond that, we believe, would mitigate, or eliminate, most of the factors inhibiting investment in critical minerals. |
| Keywords: | Critical minerals, energy, Australia |
| JEL: | E0 E00 Q40 Q42 |
| Date: | 2023–06–01 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:122868 |
| By: | Marc Aliana (Department of Applied Economics, Universitat Autònoma de Barcelona, Spain); Diego Prior (Department of Business, Universitat Autònoma de Barcelona, Spain); Emili Tortosa-Ausina (IVIE, Valencia and IIDL and Department of Economics, Universitat Jaume I, Castellón, Spain) |
| Abstract: | This paper presents a novel approach to measuring cross-country productivity growth by introducing a revised Malmquist Productivity Index designed to overcome the limitations of traditional methods. The proposed index mitigates the impact of outliers and incorporates key environmental factors, which can influence productivity comparisons across countries. This research: (i) analyses the productivity growth of 95 countries over two distinct periods, refining the original Malmquist index by combining the order-m methodology with a conditional approach; (ii) compares traditional and conditional Malmquist models to assess the differential effects of environmental variables on productivity estimates; and (iii) introduces a novel decomposition of the Malmquist index, the Environmental Variables Index Factor (EVIF), which quantifies the bias introduced by environmental factors. This study identifies that the exclusion of environmental variables systematically biases all components of the Malmquist index, including efficiency change and technological change. The findings indicate that the conditional model produces unbiased cross-country productivity estimates, particularly during periods of significant volatility in environmental factors. |
| Keywords: | Environmental variables, Malmquist indices, Order-m, Outliers, Productivity |
| JEL: | C14 D24 O47 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:jau:wpaper:2025/01 |
| By: | Moreno, Frede; Sulasula, Josephine |
| Abstract: | This study explores flood risk adaptation strategies and the resilience of riverbank-dwelling families in major urban centers of the Zamboanga Peninsula, Philippines. It examines the challenges these communities face in coping with recurrent flooding and identifies the factors that influence their ability to adapt to flood risks. Geospatial mapping further supported the analysis of flood-prone areas. The findings reveal that while families use a variety of adaptation strategies, including home elevation, temporary relocation, and community-based early warning systems, their effectiveness is constrained by limited resources, inadequate infrastructure, and insufficient local governance. Social capital and community networks play a critical role in resilience, but vulnerability remains high due to lack of formal support and resources. The study highlights the importance of inclusive disaster risk management policies, strengthened governance, and the potential of public-private partnerships in enhancing flood resilience. It contributes to the understanding of disaster governance and offers actionable recommendations for improving flood adaptation in vulnerable communities. |
| Keywords: | Flood risk, adaptation strategies, resilience, riverbank-dwelling families, Zamboanga Peninsula, local governance, disaster risk management, social capital, public-private partnerships, community-based adaptation. |
| JEL: | D1 D6 D62 D8 H2 H23 H24 H3 Q5 |
| Date: | 2024–12–20 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:123052 |
| By: | Lopez, Iris Faye; Moreno, Frede |
| Abstract: | This study explores the strategic governance of flood and drought management in Zamboanga City, Philippines, through a detailed examination of decentralized governance structures, stakeholder engagement, resource management, and performance measurement. Using a mixed-methods approach, including surveys, interviews, and focus group discussions, the research assesses the effectiveness of current disaster management practices and identifies key challenges and opportunities for improvement. The findings reveal that while decentralized governance structures have enhanced local responsiveness, issues persist in clarity of roles, resource allocation, and inter-stakeholder coordination. The study highlights the need for clearer guidelines, improved stakeholder collaboration, and better integration of disaster risk reduction into development planning. Additionally, it underscores the importance of balancing market-oriented approaches with public accountability. The research provides actionable recommendations for enhancing disaster management strategies, including strengthening local capacities, fostering inclusive participation, and refining performance measurement systems. These insights contribute to the broader discourse on disaster governance and offer practical guidance for policymakers and practitioners seeking to improve resilience and effectiveness in flood and drought management. |
| Keywords: | Disaster management, Flood management, Drought management, Decentralized governance, Stakeholder engagement, Resource allocation, Performance measurement, Zamboanga City, Philippines |
| JEL: | A1 H0 H7 H8 L0 M0 M1 O1 Q0 Q5 Z0 Z1 |
| Date: | 2024–08–30 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:122804 |
| By: | Frikk Nesje; Moritz A. Drupp; Mark C. Freeman; Ben Groom |
| Abstract: | We critically assess an almost universal Benefit-Cost Analysis (BCA) practice. In addition to the central Net Present Value (NPV), analysts frequently also report multiple additional values in what is commonly referred to as ‘NPV sensitivity analysis’. This practice is generally justified with reference to the future net benefits to the asset being risky, or because the correct discounting model is difficult to identify. We explain why, despite the fact that this is recommended as best practice across multiple prestigious and influential sources, the reporting of more than one NPV either lacks sufficient theoretical support or reflects decisions taken at an inappropriate level within the organizational hierarchy. As a consequence, this practice may confuse decision-makers more than help them. We illustrate this point in relation to a number of current guidelines across the public and private sectors and with particular focus on the US Environmental Protection Agency’s latest estimates of the Social Cost of Carbon. |
| Keywords: | benefit-cost analysis, net present value, sensitivity analysis, social cost of carbon, regulatory analysis |
| JEL: | H43 G31 L51 Q51 Q54 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11547 |
| By: | Rim Berahab; Hamza Mjahed et Camellia Mahjoubi |
| Abstract: | The current decade is critical for global decarbonization. The ongoing energy transition will bring about changes in technology, commodities, infrastructure, supply chains, as well as geopolitical factors, which could give rise to new energy security challenges. It is therefore important to undertake a thorough re-evaluation of energy security dynamics, with a view to enhancing the resilience of power systems. In this paper, we examine North Africa’s energy transition trajectory through the lens of the international energy crisis in order to address the energy trilemma and propose a reflection on the paradigm of energy security, which continues to evolve against the backdrop of a changing global governance landscape. The paper also proposes recommendations on how to align energy security with the energy transition and build a regional common ground to achieve a secure, affordable and sustainable energy future for all. This paper has been prepared as a collaborative effort between RES4Africa Foundation and the Policy Center for the New South. |
| Date: | 2024–04 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:rpcoen:rpnn_79 |
| By: | Shaheen, Susan PhD; Martin, Elliot PhD; Ju, Mengying |
| Abstract: | Transportation network companies (TNCs) play an increasingly prominent role providing on-demand mobility for consumers across California. The California Public Utilities Commission (CPUC) and the California Air Resources Board (CARB) adopted and are implementing Senate Bill 1014 (Clean Miles Standard), which establishes an annual increase in the percent of zero-emission passenger miles traveled and greenhouse (GHG) emission reduction targets for TNCs. This regulation requires TNC drivers to acquire and operate an electric vehicle (EV). In collaboration with the Rideshare Drivers United, a grassroots driver advocacy group, we collected data to understand the total cost of EV ownership for TNC drivers. This included two TNC driver group discussions, ten expert interviews, an in-depth driver survey (n=436), and a dataset of 150 million TNC trips from the CPUC. The driver survey was distributed in December 2023 and April 2024, investigating driver perceptions and any changes to their driving due to operating an EV. The CPUC dataset reports trip-level TNC activities from September 2019 to October 2020, including data on trip location, time, driver pay, and other variables. We also evaluated vehicle price and fuel economy data to investigate the economic feasibility of purchasing, leasing, or renting EVs for ridehailing use. One of our key metrics is the net TNC driver earnings, or the total TNC income subtracted by service fees, fuel costs, monthly vehicle payments, etc. |
| Keywords: | Physical Sciences and Mathematics |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsrrp:qt4rf2191v |
| By: | Saigal, Manisha; JOHNS, Philip |
| Abstract: | Understanding human-wildlife interactions is crucial for effective urban wildlife management and conservation. This study compared Singapore residents' perceptions and awareness of scenario-based etiquette towards four prominent urban wildlife species: smooth‐coated otters (Lutrogale perspicillata), long-tailed macaques (Macaca fascicularis), Malayan water monitor lizards (Varanus salvator) and reticulated pythons (Malayopython reticulatus). Using online surveys (n=399), we investigated how demographic factors and exposure to each species influence perceptions. Our results show significant differences in perceptions and etiquette responses towards each species. Respondents had the highest affinity towards otters, perceived greater property damage from mammals than reptiles, and feared terrestrial more than semi-aquatic species. Respondents’ age, parental status, frequency of park visits, involvement in wildlife programs and frequency of seeing each species significantly influenced perceptions, suggesting a need to engage older people and parents more to improve wildlife perceptions. Notably, the frequency of direct encounters with wildlife only explained 1% of variation in perceptions, suggesting that exposure or familiarity alone do not ensure coexistence with wildlife. Our findings emphasise the need for more public education on wildlife etiquette, especially regarding macaques. We found that wildlife education lowered perceptions of property damage but not fear, suggesting that addressing misconceptions and negative perceptions requires fostering positive emotional connections with wildlife. Our analysis highlights the interplay between urban aesthetics, cultural perceptions, wildlife education, and human and animal behaviour in shaping human-wildlife interactions. Most saliently, our study demonstrates the importance of species-specific approaches to improve relationships between humans and wildlife. |
| Date: | 2024–11–29 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:kjtp9 |
| By: | Karimi, Abdul Hakim |
| Abstract: | Concerns have been raised after recent reports from the United Nations and Higher Education Sustainability Initiative showed a lower score in sustainability literacy of people. Among other things, these reports show that educational practices are not effective enough to inform and educate people about sustainability. Thus, an effective assessment of the sustainability literacy of a society can be a turning point and will tremendously help in improving sustainability literacy. In recent years, different researchers tried to develop tools to measure sustainability literacy, however, most of the research focused on specific or limited dimensions of sustainability literacy such as environment or society, and lacked inclusivity. Thus, in this study, we aimed to develop a tool that can measure sustainability literacy holistically. We developed the scale under the UNESCO framework of Sustainable Development and used the existing literature and focus group recommendations to generate items for the scale. The methodology used in the paper involved Exploratory Factor Analysis (EFA) followed by the reliability analysis of the developed scale. The sample size of the data was 172 individuals. The EFA and reliability results indicate that the developed scale is strongly valid and highly reliable and can be used to measure sustainability literacy holistically. |
| Keywords: | Sustainability Literacy Sustainability measurement Scale Development and Validation |
| JEL: | M16 Q01 |
| Date: | 2024–05–25 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:122875 |
| By: | Njideka Aguome; Nonso Ewurum; Phenyo Mpolokang; Fidelis Emoh |
| Abstract: | This study employs a discrete choice analysis to investigate homeowners' risk-time preferences for energy efficiency upgrades, considering both upfront costs and future savings. The study's objectives are to understand trade-offs homeowners are willing to make between upfront costs and expected savings for energy efficiency upgrades and to identify the tipping point where homeowners switch preferences between discounted long-term savings and higher upfront costs amongst household demographic characteristics. A quantitative methodology is employed to achieve these objectives, utilising discrete choice analysis. This methodology allows for examining homeowners' preferences by presenting them with various hypothetical scenarios that include different combinations of upfront costs and expected savings for energy efficiency upgrades. Using a dataset of 461 homeowners in Nigeria, we estimate latent class, multinomial logit models, and conjoint analysis to analyse the preference heterogeneity in the population. Our results provide a comprehensive understanding of homeowners' risk-time preferences for energy efficiency upgrades, and the tipping point where they switch preferences between discounted long-term savings and higher upfront costs. The findings elicit insights that direct policymakers to tailor their interventions consistent with demographic variances towards effectively incentivising energy efficiency upgrades. |
| Keywords: | discrete choice experiment; Energy Efficiency; household preferences; smart homes; sustainable transition |
| JEL: | R3 |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:afr:wpaper:afres2024-035 |
| By: | Éric Herbert (LIED (UMR_8236) - Laboratoire Interdisciplinaire des Energies de Demain - CNRS - Centre National de la Recherche Scientifique - UPCité - Université Paris Cité, UPCité - Université Paris Cité, CNRS - Centre National de la Recherche Scientifique); Gaël Giraud (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique); Aurélie Louis-Napoléon (IMFT - Institut de mécanique des fluides de Toulouse - UT3 - Université Toulouse III - Paul Sabatier - UT - Université de Toulouse - CNRS - Centre National de la Recherche Scientifique - Toulouse INP - Institut National Polytechnique (Toulouse) - UT - Université de Toulouse); Christophe Goupil (LIED (UMR_8236) - Laboratoire Interdisciplinaire des Energies de Demain - CNRS - Centre National de la Recherche Scientifique - UPCité - Université Paris Cité, IUF - Institut universitaire de France - M.E.N.E.S.R. - Ministère de l'Education nationale, de l’Enseignement supérieur et de la Recherche) |
| Abstract: | This paper presents a conceptual model describing the medium and long term co-evolution of natural and socio-economic subsystems of Earth. An economy is viewed as an out-of-equilibrium dissipative structure that can only be maintained with a flow of energy and matter. The distinctive approach emphasized here consists in capturing the economic impact of natural ecosystems' depletion by human activities via a pinch of thermodynamic potentials. This viewpoint allows: ( i ) the full-blown integration of a limited quantity of primary resources into a non-linear macrodynamics that is stock-flow consistent both in terms of matter-energy and economic transactions; ( ii ) the inclusion of natural and forced recycling; ( iii ) the inclusion of a friction term which reflects the impossibility to produce (and recycle)goods and services without exuding energy and matter wastes, and ( iv ) the computation of the anthropically produced entropy as a function of metabolizing intensity and frictions. Analysis and numerical computations confirm the role played by intensity and frictions as key factors for sustainability by contrast with real gdp growth—as well as the interplay between resource scarcity, income inequality, and inflation. A more egalitarian society with moderate inflation turns out to be more sustainable than an unequal society with low inflation. Our approach is flexible enough to allow for various economic models to be embedded into our thermodynamic framework. Finally, we propose the open source E co D yco software as a first complete realization implementing economic dynamics in a multi-resource environment. |
| Abstract: | Ce document présente un modèle conceptuel décrivant la coévolution à moyen et long terme des sous-systèmes naturels et socio-économiques de la Terre. Une économie est considérée comme une structure dissipative hors équilibre qui ne peut être maintenue que par un flux d'énergie et de matière. L'approche distinctive mise en avant ici consiste à capturer l'impact économique de l'épuisement des écosystèmes naturels par les activités humaines par le biais d'une pincée de potentiels thermodynamiques. Ce point de vue permet ( i ) l'intégration complète d'une quantité limitée de ressources primaires dans une macrodynamique non linéaire qui est cohérente en termes de flux de matière-énergie et de transactions économiques ; ( ii ) l'inclusion du recyclage naturel et forcé ; ( iii ) l'inclusion d'un terme de friction qui reflète l'impossibilité de produire (et de recycler) des biens et des services sans exsuder des déchets d'énergie et de matière, et ( iv ) le calcul de l'entropie produite par l'homme en tant que fonction de l'intensité de métabolisation et des frictions. L'analyse et les calculs numériques confirment le rôle joué par l'intensité et les frictions en tant que facteurs clés de la durabilité, contrairement à la croissance du PIB réel, ainsi que l'interaction entre la rareté des ressources, l'inégalité des revenus et l'inflation. Une société plus égalitaire avec une inflation modérée s'avère plus durable qu'une société inégalitaire avec une faible inflation. Notre approche est suffisamment souple pour permettre l'intégration de divers modèles économiques dans notre cadre thermodynamique. Enfin, nous proposons le logiciel libre E co D yco comme première réalisation complète mettant en œuvre la dynamique économique dans un environnement multi-ressources. |
| Date: | 2023–10–21 |
| URL: | https://d.repec.org/n?u=RePEc:hal:cesptp:hal-04872636 |
| By: | - |
| Abstract: | The Caribbean is undergoing a demographic transition with declining birth rates and increasing life expectancy. From 2000 to 2020, the population grew from 39 million to 44 million, with an annual growth rate of 0.64%, lower than the Latin American and Caribbean average of 1.29%. Life expectancy rose from 67.4 to 70.8 years for males and 72.6 to 76.2 years for females, and under-5 mortality decreased from 47 to 35 per 10, 000 births. The ageing population, driven by these dynamics and the substantial emigration of the working-age population, saw the median age rise from 24 to 31 years and is projected to reach 33 years by 2050, with those over 50 comprising a quarter of the population (UN-DESA, 2022). This demographic transition towards an ageing population mirrors more of what is expected of advanced economies rather than the developing countries of the Caribbean. An ageing population produces many ramifications for economic development as it negatively affects labour productivity and strains pension systems. Managing the demographic transition necessitates policies that help promote the economic growth needed to sustain pension, healthcare, and elderly care systems. Policies harnessing the benefits of international migration constitute a critical pillar of the population policies available to Caribbean governments to manage the demographic transition and assure sustainable development. |
| Date: | 2024–09–16 |
| URL: | https://d.repec.org/n?u=RePEc:ecr:col095:80687 |
| By: | Muñoz-Morales, Juan S. (IÉSEG School of Management) |
| Abstract: | This study provides evidence that natural disasters negatively affect student outcomes, potentially explaining the lower academic achievement of students in rural areas compared to their urban counterparts in developing countries. Using data from the Colombian school census, I estimate a difference-in-differences strategy that exploits variation from an unusual rainfall shock affecting over two million people in both urban and rural Colombia. The results show that these disruptions increase school dropout rates and reduce learning outcomes for at least a decade. The effects are concentrated in rural schools, while students in urban schools remain unaffected. I explore several mechanisms and rule out the possibility that the effects are driven by selective migration or a loss of educational resources. Instead, I find evidence that the rainfall shock exacerbated poverty, pushing poorer rural children into unemployment and longer work hours. |
| Keywords: | natural disasters, human capital, education, urban-rural gap, Colombia |
| JEL: | I24 I25 R11 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp17542 |
| By: | Nicola Gagliardi |
| Abstract: | This PhD thesis includes three original microeconomic analyses that investigate critical factors influencing workers’ wages and firm productivity, and underpinning relevant megatrends poised to reshape economic systems and lifestyles worldwide for decades to come. Specifically, the thesis explores the following dimensions: firms’ relative positioning within Global Value Chains (GVCs), organizational tenure (i.e. the length of employment in a given firm), and the economic implications of global warming. The first two analyses focus on the Belgian labor market, while the third adopts a broader European perspective. Based on matched employer-employee data relative to the Belgian manufacturing industry for the period 2002-2010 combined with a unique indicator of firm-level upstreamness (i.e. the steps before the production of a firm meets final demand), Chapter 1 shows that workers earn significantly higher wages when employed in more upstream firms. However, the benefits from upstreamness are found to be unequally shared among workers, both along the wage distribution and when considering the gender dimension of the workforce. Using rich longitudinal matched employer-employee data on Belgian firms over the period 2005-2016, Chapter 2 point to positive, but decreasing, returns to tenure. The study also finds that the impact differs widely across several firm dimensions (e.g. task routineness, job complexity, capital intensity). Using longitudinal firm-level balance-sheet data from private sector firms in 14 European countries over the period 2013-2020, combined with detailed weather data, including temperature, Chapter 3 reveals that global warming significantly and negatively impacts firms’ Total Factor Productivity (TFP). Labor productivity also declines markedly as temperatures rise, while capital productivity remains unaffected – indicating that TFP is primarily affected through the labor input channel. Such impacts appear to persist across geographical, sectoral, and firm-specific dimensions. |
| Keywords: | Global Value Chains; Firm Productivity; Wages; Gender Wage Gap; Organizational Tenure; Climate Change; Global Warming |
| Date: | 2025–01–14 |
| URL: | https://d.repec.org/n?u=RePEc:ulb:ulbeco:2013/386761 |
| By: | Ahmed Ouhnini; Larissa Wachholz; Bruno Brasil |
| Abstract: | This policy brief was originally published on T20 India website Supportive policies for tropical agriculture have helped millions of small-scale farmers in Brazil step out of poverty by improving government capacity to design legal frameworks to strengthen agricultural production and family farming. Scientific and technological developments have enabled small-scale Brazilian farmers to produce food while considering local tropical conditions. In contrast, tropical agriculture stakeholders in Africa continue to face structural challenges to productivity levels. The persistent technological gap between tropical nations in Africa and industrialised countries hinders the capacity of local producers to compete with major traditional tropical crop exporters under the current free trade conditions. Although tropical farming has evolved differently in Latin America and Africa, farmers in the two regions face similar challenges, such as insufficient investments in infrastructure, tropical deforestation as a result of economic incentives, and significant rural poverty. In many countries, promoting tropical agriculture is not a priority for governments and public policies, which results in a lack of strategy and structured investments. Brazil and Africa could meet the increase in demand expected for tropical products, such as food and fibres, by 2050. Considering that both the country and the continent are important players in global food production systems, Brazil and Africa both have significant potential to increase their production of tropical products to meet future demand. To achieve this, the sector needs structured investment and strategically aligned policies to lay the ground for a prosperous, inclusive, and sustainable tropical agriculture. This Policy Brief compares the position of both regions within global commodity value chains and investigates additional factors that could explain successes and failures, as well as highlight best practices to promote inclusive markets for tropical farming, define prospects for underexploited new market opportunities, and identify relevant instruments to reach common goals. |
| Date: | 2023–06 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:pbagri:pbnn_30 |
| By: | Ibrahim Elbadawi (ERF); Federico Fiuratti (The World Bank) |
| Abstract: | Unfortunately, the worst is still to come should it escalate into a large scale long-duration ethnic war. We show in this paper that this is a distinct possibility in view of the country’s highly fractionalized society. Using a Long-term Growth Model for Sudan, we find that the country could lose more than $2.2 trillion relative to a modest counterfactual peacetime scenario with a 4% annual growth rate. Realization of the conflict scenario could very well pose an existential threat for the country and its territorial integrity. Ending this war before it scales up and building sustainable peace is an absolute imperative for Sudan that requires a robust political settlement, leading to a transformative civil-democratic transition. Given the war-ravaged social capital and diminished domestic capabilities, sustainable peacebuilding requires a multi-dimensional UNRegional peacekeeping operation for Sudan, guided by a broad civilian democratic coalition. While UN missions could help improve the “quality” of peace building, longer-term sustainability requires sustained, transformative, broad-based economic growth. The emerging political order, therefore, should be accountable for achieving development and prosperity, not just majorities in the electoral competition. Under such developmental democratic civil peace, we predict “miracle” growth for Sudan. In an era of relocalization and concerns about food security, the vast Sudanese agricultural resource base provides a magnet for inward FDI flows that will help deliver the envisaged growth. |
| Date: | 2024–06–20 |
| URL: | https://d.repec.org/n?u=RePEc:erg:wpaper:1708 |
| By: | Barbara Iannone; Pierdomenico Duttilo; Stefano Antonio Gattone |
| Abstract: | This study investigates the resilience of Environmental, Social, and Governance (ESG) investments during periods of financial instability, comparing them with traditional equity indices across major European markets-Germany, France, and Italy. Using daily returns from October 2021 to February 2024, the analysis explores the effects of key global disruptions such as the Covid-19 pandemic and the Russia-Ukraine conflict on market performance. A mixture of two generalised normal distributions (MGND) and EGARCH-in-mean models are used to identify periods of market turmoil and assess volatility dynamics. The findings indicate that during crises, ESG investments present higher volatility in Germany and Italy than in France. Despite some regional variations, ESG portfolios demonstrate greater resilience compared to traditional ones, offering potential risk mitigation during market shocks. These results underscore the importance of integrating ESG factors into long-term investment strategies, particularly in the face of unpredictable financial turmoil. |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2501.03269 |
| By: | Hanzhe Xing; Stuart Scott; John Miles |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:enp:wpaper:eprg2418 |
| By: | Chu, Angus C. |
| Abstract: | Early modern humans interbred with archaic humans. To explore this phenomenon, we develop a Malthusian growth model with hybridization in human evolution. Our hunting-gathering Malthusian economy features two initial human populations. We derive population dynamics and find that the more fertile population survives whereas the less fertile one eventually becomes extinct. During this natural-selection process, a hybrid human population emerges and survives in the long run. This finding explains why modern humans still carry DNA from archaic humans. A higher hybridization rate reduces long-run population size but raises long-run output per capita for the surviving populations in this Malthusian economy. |
| Keywords: | Ancient human interbreeding; natural selection; Malthusian growth theory |
| JEL: | N10 O13 Q56 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:121218 |
| By: | Samir Mirdasse (Université Ibn Zohr = Ibn Zohr University [Agadir]) |
| Abstract: | This study aims to deepen the understanding of the determinants of Human Resources Information System (HRIS) utilization in organizations. The primary objective is to identify the factors influencing HRIS usage by analyzing the complex interactions among technological, organizational, and environmental dimensions. Drawing on a rich literature review, this research employs an expanded conceptual model based on the Technology-Organization-Environment (TOE) framework and incorporates various theoretical frameworks including the Diffusion of Innovations Theory (DOI), Upper Echelons Theory (UET), Technology Acceptance Model (TAM), Motivational Model (MM), and Task-Technology Fit (TTF) framework. This approach enables a thorough analysis of the factors influencing HRIS utilization. The literature review results identify several determinant factors, including employees' technological capability, organizational size, top management support, IT infrastructure, and technology provider assistance, all of which significantly impact HRIS utilization in organizations. While the literature review is comprehensive, certain aspects may not have been thoroughly covered. Nevertheless, this research offers important implications for practitioners and researchers in the fields of Human Resource Management (HRM) and Information Systems (IS). The findings of this study provide valuable insights for organizations seeking to enhance their HRIS usage. By understanding the factors influencing HRIS utilization, organizations can better direct their efforts in adopting and deploying HRIS, which can positively impact their overall performance. This research contributes to the literature by proposing a comprehensive conceptual model for understanding HRIS utilization in organizations. By integrating multiple theoretical frameworks and considering technological, organizational, and environmental dimensions, it offers a holistic approach that better captures the underlying mechanisms of HRIS utilization. Keywords: HRIS, TOE Framework, factors, utilization, conceptual model. |
| Abstract: | Cette étude vise à approfondir la compréhension des déterminants de l'utilisation du système d'information ressources humaines (SIRH) dans les entreprises. L'objectif principal est d'identifier les facteurs qui influencent l'utilisation du SIRH, en analysant les interactions complexes entre les dimensions technologique, organisationnelle et environnementale. La recherche s'appuie sur une revue de la littérature riche pour explorer les antécédents et les résultats de l'utilisation du SIRH. Elle mobilise un modèle conceptuel élargi basé sur le cadre Technologie-organisation-environnement (TOE) ainsi que plusieurs cadres théoriques, tels que la théorie de diffusion des innovations (DOI), la théorie de l'échelon supérieur (UET), le modèle d'acceptation de la technologie (TAM), le modèle motivationnel (MM) et le cadre d'adéquation tâche-technologie (TTF). Cette approche permet une analyse approfondie des facteurs influençant l'utilisation du SIRH. Les résultats de la revue de la littérature identifient un ensemble de facteurs déterminants, notamment la capacité technologique des collaborateurs, la taille de l'organisation, le soutien de la haute direction, l'infrastructure informatique et l'assistance des fournisseurs de technologie. Ces facteurs ont un impact significatif sur l'utilisation du SIRH dans les entreprises. Bien que la revue de la littérature soit riche, certains aspects peuvent ne pas avoir été couverts en profondeur. Cependant, cette recherche offre des implications importantes pour les praticiens et les chercheurs dans le domaine de la gestion des ressources humaines (GRH) et des systèmes d'information (SI). Les résultats de cette étude fournissent des indications précieuses pour les entreprises cherchant à améliorer l'utilisation de leur SIRH. En comprenant les facteurs qui influencent cette utilisation, les organisations peuvent mieux orienter leurs efforts d'adoption et de déploiement du SIRH, ce qui peut avoir un impact positif sur leur performance globale. Cette recherche contribue à la littérature en proposant un modèle conceptuel complet pour comprendre l'utilisation du SIRH dans les entreprises. En intégrant plusieurs cadres théoriques et en prenant en compte les dimensions technologiques, organisationnelles et environnementales, elle offre une approche holistique qui permet de mieux appréhender les mécanismes sous-jacents à l'utilisation du SIRH. |
| Keywords: | HRIS, TOE Framework, Factors, Utilization, Conceptual model, SIRH, Cadre TOE, Facteurs, Utilisation, Modèle conceptuel. |
| Date: | 2024–04–30 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04853838 |