|
on Environmental Economics |
| By: | JŽr™me Pivard (Paris-Saclay Applied Economics); Vincent Martinet (Paris-Saclay Apllied Economics) |
| Abstract: | We explore the interplay between two key individual drivers of green consumption: intrinsic moral concerns for the environment and reputational concerns for social image. Our microeconomic behavioral model characterizes choices among lifestyles differing in environmental impacts (brown/green) and conspicuousness (positional/discreet), depending on how strongly one values each of these motives. We show that image concerns can substitute for environmental concerns in driving green consumption across a limited but central range of preferences, in particular through the purchase of green positional goods. Such conspicuous conservation can green individual consumption (reconciling Eco and Ego), especially among image-sensitive consumers, but it yields environmental benefits only under specific economic conditions. Indeed, the environmental impact of a lifestyle depends critically on its relative impact intensity, i.e., the pollution per dollar spent on this lifestyle, more than on the pollution per unit of the representative good of the lifestyle, driving volume effects and behavioral rebound effects, which both reduce the environmental benefits of green lifestyles. Knowing the collective distribution of preferences may help design targeted policies, as those preferences strongly determine policy effectiveness. Our findings are especially relevant for policies that aim to foster greener consumption choices in different economic contexts (e.g., green nudging, environmental taxes with higher rates on positional goodsÉ). |
| Keywords: | Green consumption, Conspicuous conservation, Moral consistency, Environmental Concern, Image concern |
| JEL: | D01 D11 D62 D91 |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:fae:wpaper:2026.02 |
| By: | Costanza Caprini; Maximilian Studtrucker |
| Abstract: | This paper provides an EU-wide assessment of the potential contribution of the Recovery and Resilience Facility (RRF) to greenhouse gas (GHG) emission reductions, assuming full implementation of the measures included in national Recovery and Resilience Plans (RRPs) as described at the cut-off date of the analysis. Building on the methodology used in the Commission’s NextGenerationEU (NGEU) Green Bond reporting, the analysis translates quantitative output indicators from national RRPs into estimated annual GHG emission savings using a harmonised, output-based approach. The results indicate that RRF-supported investments can generate approximately 54 million tonnes of CO2 equivalent (MtCO₂e) of annual emission savings (around 1.5% of EU emissions in 2021), while RRF-supported reforms contribute 52 MtCO₂e in annual emission savings (around 1.4%), based on a subset of measures that can be quantified. The estimated mitigation effects are concentrated in energy efficiency and sustainable mobility for investments, and in renewable energy and clean energy infrastructure for reforms.The analysis also highlights significant cross-country variation, driven primarily by differences in sectoral composition, national baseline conditions and methodological coverage, rather than differences in the RRPs’ climate ambition. Estimated impacts should be interpreted as indicative, as the analysis excludes financial instruments and measures lacking quantifiable outputs, implying that results represent a lower-bound estimate. Overall, the findings suggest that the RRF makes a meaningful contribution to the achievement of the EU’s climate targets, as well as the acceleration of the energy transition, through both its investment and reform components. The analysis also illustrates the importance of robust indicator design for future policy evaluation. |
| JEL: | Q58 Q54 Q48 H54 O44 |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:euf:dispap:246 |
| By: | Louis Boisgibault (ENeC - Espaces, Nature et Culture - UP4 - Université Paris-Sorbonne - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | An important interface between southern Tunisia and the Mediterranean, the port area of Sfax consists of a historic fishing port an artificial commercial port. The creation of the commercial port dates back to the government of the French protectorate, at the end of the 19th century, and allowed the city of Sfax, the second largest Tunisian urban agglomeration, to strengthen its regional economic role. With a traffic volume of 4 648 740 tonnes mainly inbound in 2022, it is the 3rd Tunisian port in tonnage. It does not stand out in the rankings as a major port in Africa, unlike Tanger Med in Morocco, whose growth has been spectacular over the last 15 years. The Sfax commercial port is versatile, as it deals with liquid and solid bulk and containerized goods. For passenger traffic, Sfax is the pier for ferries to the Kerkennah Islands. The authorities are faced with increasing illegal migration to Europe, generating disorder and tragedy. For a long time, the economic imperatives of international trade and fishing overshadowed the adjacent pollution and the poor carbon footprint of this area, which adjoins the city center. The port area is threatened by risks, in particular poor waste management, pollution, toxic emissions, rising water levels, storms, lack of drinking water, and global warming with its excessive heat. In a gloomy scenario, this metropolis of nearly 300, 000 inhabitants could be deserted by 2100, human life becoming too difficult there. Experts are calling for decontamination of the port, decarbonization of its activities, and better adaptation to this warming while limiting the artificialization of the coastline. But these major, highly studied sustainable modernization projects are struggling to materialize due to political instability, economic difficulties since the 2011 revolution, and lack of funding. They must accelerate today by following objectives consistent with the best international standards to achieve carbon neutrality in 2050. |
| Abstract: | Interface importante entre la Tunisie du Sud et la Méditerranée, la zone portuaire de Sfax se compose d'un port de pêche historique et d'un port de commerce artificiel. La création du port de commerce remonte au gouvernement du protectorat français, à la fin du XIXe siècle, et a permis à la ville de Sfax, deuxième agglomération urbaine tunisienne, de renforcer son rôle économique régional. Avec un volume de trafic de 4 648 740 tonnes principalement en entrée en 2022, c'est le troisième port commercial tunisien en tonnage. Il ne s'impose pas dans les classements comme un port majeur d'Afrique, contrairement à Tanger Med au Maroc dont l'essor a été spectaculaire ces 15 dernières années. Le port de commerce de Sfax est polyvalent, car il traite du vrac liquide, solide et de marchandises conteneurisées. Pour le trafic de passagers, Sfax est l'embarcadère pour les ferrys vers les îles Kerkennah. Les autorités sont aussi confrontées à une migration illégale croissante vers l'Europe, génératrice de désordres et de tragédies. Longtemps, les impératifs, économiques du commerce international et de la pêche ont occulté les pollutions adjacentes et la mauvaise empreinte carbone de cette zone qui jouxte le centre-ville. La zone portuaire est menacée par des risques, en particulier la mauvaise gestion des déchets, les pollutions, les émissions toxiques, la montée des eaux, les tempêtes, le manque d'eau potable, le réchauffement climatique avec sa chaleur excessive. Dans un scénario sombre, cette métropole de près de 300 000 habitants pourrait être désertée à l'horizon 2100, la vie humaine y devenant trop difficile. Des experts appellent à une dépollution du port, à une décarbonisation de ses activités et à une meilleure adaptation à ce réchauffement, tout en limitant l'artificialisation du littoral. Mais ces grands projets de modernisation durable très étudiés peinent à se concrétiser en raison de l'instabilité politique, des difficultés économiques depuis la révolution de 2011 et du manque de financements. Ils doivent accélérer aujourd'hui, en suivant des objectifs conformes aux meilleurs standards internationaux pour atteindre la neutralité carbone en 2050. |
| Keywords: | bulk, Sfax, Tunisia, energy transition, port, container, pollution, CO2, energy, maritime traffic, conteneur, vrac, trafic maritime, énergie, Tunisie, transition énergétique |
| Date: | 2025–11–01 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05657291 |
| By: | Ayalasomayajula, Madhushree; Jondeau, Eric |
| Abstract: | This paper develops a theoretical asset-pricing model to examine how sustainable investors can combine exclusion and engagement strategies to accelerate corporate transition. Firms are classified as green, brown, or reformable, with the latter being polluting firms that can reduce emissions under shareholder pressure. Sustainable investors exclude brown firms but may engage with reformable ones when majority ownership enables them to enforce a transition. Engagement is modeled as a costly but effective mechanism that lowers emissions and generates non-pecuniary benefits for investors. Our main result is that only a moderate share of sustainable investors (around 22.5% of market wealth) is sufficient to trigger reformable firms’ transition, provided they derive a modest non-pecuniary benefit (about 2.3%) from sustainability improvements. In this equilibrium, sustainable investors are willing to concentrate their portfolios in reformable assets, enabling these firms to adopt cleaner technologies and reduce their environmental footprint. The model shows that a relatively small but motivated coalition of investors can induce meaningful environmental change through targeted engagement. |
| JEL: | G11 G12 Q51 |
| Date: | 2025–09 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20655 |
| By: | Aghion, Philippe; Barrage, Lint; Donald, Eric; Hémous, David; Liu, Ernest |
| Abstract: | We analyze a model of green technological transition along a supply chain. The model generates a unique equilibrium for given initial conditions but multiple steady states. We show that: (i) even in the presence of Pigouvian environmental taxation, targeted sectoral subsidies are generally necessary to implement the social optimum; (ii) small, targeted industrial policy may bring large welfare gains; (iii) a government which is unable to subsidize greenification in more than one sector or price carbon at its true social cost should primarily target downstream sectors; (iv) overinvesting in greenification in the wrong upstream branch may derail the overall transition towards greenification. Finally, we calibrate our model to decarbonization of heavy duty transportation (trucking, aviation, etc.) via hydrogen. We find that, absent industrial policy, the economy can get stuck in the “wrong†steady-state with CO2 emissions vastly above the social optimum even with a Pigouvian carbon price in place. |
| Keywords: | Supply chain; Innovation; Network; Climate change |
| JEL: | O25 O31 O33 O44 Q55 L14 |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20378 |
| By: | Basaglia, Piero; Behr, Sophie; Drupp, Moritz |
| Abstract: | We investigate how fuel taxation reduces climate and pollution externalities by evaluating the world’s largest environmental tax reform. Using spatially detailed emissions data from more than 1, 000 European regions in a synthetic difference-in-differences framework, we evaluate the impact of Germany’s 1999 ecological tax reform on transport-related carbon and air pollutant emissions. We document sizable aggregate reductions for all emissions, exceeding 10 percent on average per year relative to synthetic baselines. Using official damage valuations, we estimate avoided external costs of more than €100 billion, two-thirds of which stem from health benefits due to reduced air pollution. Emission reductions and associated monetized benefits are larger in lower-income regions, contrasting with a slightly regressive distribution of fuel costs. These findings underscore the importance of incorporating air quality co-benefits when evaluating the efficiency and distributional effects of fuel and carbon pricing. |
| Keywords: | Environmental policy; climate |
| JEL: | Q58 H23 I18 R48 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20453 |
| By: | Bonfiglioli, Alessandra; Crinò, Rosario; Filomena, Mattia; Gancia, Gino |
| Abstract: | We study the environmental impact of artificial intelligence (AI) using a novel dataset that links measures of AI penetration, the location of data centers and power plants, and CO2 emissions across US commuting zones between 2002 and 2022. Our analysis yields four main findings. First, exploiting a shift–share identification strategy, we show that localities more exposed to AI experience relatively faster emissions growth. Second, decomposition results indicate that scale effects dominate, while changes in industrial composition exert at most a weak mitigating effect; at the same time, electricity generation becomes more carbon intensive. Third, AI penetration raises dependence on non-renewable electricity. Fourth, proximity to data centers is a key driver of this effect, as nearby power plants shift toward greater fossil fuel use. These findings suggest that, absent a rapid decarbonization of power generation, the diffusion of AI is likely to exacerbate environmental externalities through the energy demand of data centers. |
| Keywords: | Data Centers; Environment; Emissions; Pollution |
| JEL: | O33 Q55 R11 |
| Date: | 2025–09 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20686 |
| By: | Bombardini, Matilde; Finan, Frederico; Longuet-Marx, Nicolas; Naidu, Suresh; Trebbi, Francesco |
| Abstract: | We study the effects of climate change and mitigation-related employment changes on U.S. politics. We combine 2000-2020 precinct-level voting information and congressional candidate positions on environmental policy with high-resolution temperature, precipitation, and census block-group level measures of “green†and “brown†employment shares. Holding politician positions fixed within a district, we find that Democratic vote shares increase with exogenous changes in local climate and green transition employment. We embed these estimates into a model of political competition, including both direct and demand-driven effects of shocks on candidate supply of climate policy positions. Incorporating these estimates into 2022-2050 projections of climate change and green employment transition, we find that voting for the Democratic Party increases, while both parties move slightly to the right on climate policy. Under worst-case climate projections and current mitigation trajectories, our estimates indicate that the probability the House passes a carbon-pricing bill is 9 percentage points higher in 2050 than in 2020. |
| JEL: | P0 D72 |
| Date: | 2025–08 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20578 |
| By: | Bilal, Adrien; Stock, James |
| Abstract: | This paper surveys the literature that links macroeconomics and climate change. We organize our review into three categories: (i) loss and damage, which assesses long-run economic costs and non-market impacts from climate change; (ii) mitigation and the energy transition, which evaluates the macroeconomic consequences of shifting away from fossil fuels toward renewable energy; and (iii) adaptation, which explores the economic adjustments necessary to manage heat stress, more frequent severe weather events and rising seas. We discuss macroeconomic frameworks that quantify these structural shifts as well as empirical estimates that guide their calibration. We suggest areas in which macroeconomic research on climate is needed. |
| Keywords: | Macroeconomics |
| JEL: | E60 F55 H23 H41 Q43 Q50 R10 |
| Date: | 2025–09 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20659 |
| By: | van der Ploeg, Frederick; Venables, Anthony |
| Abstract: | Using a dynamic model in which heterogenous consumers make forward-looking choices between brown and green durable goods, we establish conditions under which peer effects lead to multiple steady states and multiple equilibrium path. Policy, such as a green subsidy, needs to exceed a critical threshold level to achieve green transition, and even larger to increase welfare. We analyse the feasibility, speed, and cost of transition showing how they depend on the strength of peer effects, the value of emissions avoided, and on policy employed. Pigouvian policies internalising the externalities associated with climate damage and with peer effects may not be sufficient to lead to a green transition; even if they are, they may not yield net benefits given the costs of transition. Outcomes seem relatively insensitive to the exact form of policy measures, providing they exceed the critical threshold level. |
| JEL: | Q54 Q58 |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20764 |
| By: | Bernad, Mariana; De Haas, Ralph; Rud, Juan Pablo |
| Abstract: | We document how banks' voluntary climate commitments predict both their green lending practices and their borrowers' environmental investments. Using structured surveys of 644 bank CEOs and heads of credit across 33 low- and middle-income countries, we develop indices of banks' green management and lending practices. These unique organizational data reveal that banks signing international climate initiatives (`talk') indeed exhibit stronger green practices (`walk') than non-signatories. We then merge our bank data with detailed surveys of 4, 719 firms and show that firms borrowing from climate-committed banks are more likely to undertake green investments. Exploiting geocoded bank branch and firm locations, we further find evidence of spatial matching: environmentally-oriented firms preferentially borrow from climate-committed banks in their vicinity. These patterns are consistent with voluntary climate commitments reflecting genuine environmental orientation rather than greenwashing. |
| Keywords: | Climate change; Greenwashing; Green banks |
| JEL: | D22 G21 G32 O12 Q54 Q56 R51 |
| Date: | 2025–09 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20640 |
| By: | Mazzocchetti, Andrea; Monasterolo, Irene; Vismara, Andrea |
| Abstract: | We analyse how banks’ climate sentiments affect credit risk adjustments and lending conditions for high- and low- carbon investments and the implications for firms’ investments and the decarbonization of the economy. We model climate sentiments as banks forming expectations about firms’ performance in the low-carbon transition scenarios of the Network for Greening the Financial System, based on firms’ energy technology alignment and on perceived policy credibility. We distinguish between high climate sentiments, i.e. banks’ strong confidence in the success of climate policies and the future performance of low-carbon firms, and low sentiments. To anaylse these dynamics we tailor and extend EIRIN, a macro-financial Stock-Flow Consistent model of an open economy, and widely used by financial supervisors. EIRIN is populated by a limited number of heterogeneous agents and sectors, with the real and financial side of the economy treated in an integrated way. Calibrating EIRIN on the Austrian economy, we find that high banks’ climate sentiments can reinforce the impact of climate policies, resulting in a 4.5% reduction in the GHG emissions to GDP ratio and in a 0.6% increase in GDP growth, compared to the Net Zero scenario without climate sentiments. Conversely, low climate sentiments can counteract climate policy impacts, leading to an 8.5% increase in GHG emissions to GDP ratio. Furthermore, credit constraints on low-carbon investments can further hinder the low-carbon transition, increasing the GHG emissions to GDP ratio by 15%. Our findings highlight the importance for policy makers to deliver clear and credible messages about the low-carbon transition to the banking sector, in order to align expectations and investment decisions. |
| Keywords: | Banks; Climate finance; Climate policy |
| JEL: | B59 C69 G20 Q50 |
| Date: | 2025–08 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20520 |
| By: | van Wijnbergen, Sweder |
| Abstract: | Climate change and its two-way relation with economic activity is stochastic and so is therefore the optimal tax internalizing the climate externality. But with capital irreversibility a stochastic time path for carbon prices slows down the reallocation from brown to green sectors because waiting then acquires an option value. We show that it is optimal to pre-announce a time path for future carbon taxes, eliminating the option value of waiting at the cost of suboptimality of the pre-announced taxes at the time they apply. We analyse for how long carbon taxes should be pre-announced and which factors influence that timespan. |
| Keywords: | Carbon taxes |
| JEL: | G13 H2 Q51 Q54 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20438 |
| By: | Känzig, Diego |
| Abstract: | This paper studies the economic impacts of carbon pricing. Exploiting institutional features of the European carbon market and high-frequency data, I identify carbon policy shocks and trace their dynamic effects. A restrictive carbon policy shock raises energy prices, reduces emissions, spurs green innovation, but decreases economic activity—disproportionately burdening poorer households. Not only are the poor more affected because of their higher energy spending, but they also experience larger income losses. These indirect, general-equilibrium effects via income and employment play an important role in the transmission of carbon pricing policies, accounting for about two-thirds of the aggregate consumption response. |
| Keywords: | Carbon pricing |
| JEL: | E32 E62 H23 Q54 Q58 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20405 |
| By: | Crosignani, Matteo; Hiti, Martin |
| Abstract: | We introduce the first comprehensive publicly available dataset on county-level damages, injuries, and fatalities from natural disasters in the U.S. and present a few facts on the economic and human costs of extreme weather events. Our source is the National Oceanic and Atmospheric Administration’s Storm Events Database, which reports losses for geographic areas largely defined based on meteorological science. We map these areas to counties using geographic tools together with the spatial distribution of population, housing stock, and economic activity. Our estimates are particularly accurate for severe disasters. The Losses from Natural Disasters data is regularly updated at newyorkfed.org/research/policy/natural-d isaster-losses. |
| Keywords: | Natural disasters |
| JEL: | H12 H71 Q54 |
| Date: | 2025–08 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20516 |
| By: | Koetter, Michael; Popov, Alexander |
| Abstract: | Exploiting three decades of detailed regional data for Germany, we find that when the Green Party is successful at the polls, local hazardous emissions decline. The level of political representation matters, too. Green politicians’ gaining influence at county level is followed largely by a decline in air pollutants that have an immediate adverse health effect. In contrast, when the Green party joins the state government, only greenhouse gas emissions that affect the welfare of future generations via climate change decline. The primary mechanism to achieve lower emissions appears to be a reduction in output, rather than more efficient energy use. |
| Keywords: | Elections; Growth |
| JEL: | D72 Q53 |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20773 |
| By: | Gormsen, Niels; Huber, Kilian; Oh, Sangmin S. |
| Abstract: | In theory, a cost of capital channel can incentivize green investments like a carbon tax. This channel requires that firms perceive the cost of green capital as lower than that of brown capital. Using hand-collected data, we show that green firms have indeed perceived their cost of capital to be 1 percentage point lower since 2016, when climate concerns by financial investors and governments surged. Moreover, some energy firms have used a lower cost of capital for their green divisions. The findings suggest that the cost of capital can incentivize capital reallocation toward greener investments across firms and within firms. |
| Keywords: | ESG |
| JEL: | G10 G12 G31 G32 G41 Q54 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20406 |
| By: | Nuobu Renzhi (Capital University of Economics and Business, Beijing); John Beirne (Asian Development Bank); Le Ngoc Dang (Academy of Finance, Ha Noi) |
| Abstract: | This paper empirically examines the impact of economic policy uncertainty (EPU) on carbon emissions in 13 emerging market economies (EMEs), using panel local projections over the period 1990 to 2023. The results indicate that rising EPU significantly increases carbon emissions. However, the impact varies across economic and institutional characteristics. Specifically, EMEs with lower initial carbon emissions, higher energy intensity, carbon pricing mechanisms, greater financial development, higher trade openness, stronger political stability, greater renewable energy reliance, and higher research and development intensity exhibit a weaker response to EPU. Moreover, high-income EMEs experience a muted response in emissions, whereas lowerincome EMEs face a more pronounced impact. Additionally, EMEs with low climate vulnerability see a stronger positive response in emissions compared to their high-vulnerability counterparts. These findings highlight the critical role of institutional and structural factors in shaping the emissions response to EPU, offering important policy insights for mitigating environmental risks in uncertain economic conditions. |
| Keywords: | economic policy uncertainty;carbon emissions;emerging market economies |
| JEL: | O13 Q54 Q58 |
| Date: | 2026–07–07 |
| URL: | https://d.repec.org/n?u=RePEc:ris:adbewp:023057 |
| By: | Qiao, Xiyuan; Tang, Xinmeng |
| Abstract: | From the perspective of industrial enterprise profits, this study explores the theoretical mechanism underlying the inverted U- shaped relationship between carbon trading prices in the carbon emissions trading market and carbon dioxide emissions. Using panel data from 300 Chinese cities covering the period 2005–2023, a continuous difference-in-differences model was employed to examine the non-linear effects of carbon trading prices on carbon emissions. The results indicate that carbon prices in local carbon markets may lead to increased emissions when prices are low, while emission reduction effects emerge only when prices exceed a critical threshold. Robustness checks support the baseline results. Mediating mechanism tests reveal that industrial enterprise profits serve as the channel through which carbon prices exert their inverted U-shaped impact on emissions. The regional heterogeneity analysis revealed that the inverted U-shaped impact of carbon prices on carbon emissions is more pronounced in northern regions and the Yangtze River Basin compared to the Pearl River Basin, with a stronger transmission effect. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404835 |
| By: | Lint Barrage (Chair of Energy and Climate Economics, ETH Zurich); Gustav Fredriksson (Department of Economics, Trinity College Dublin) |
| Abstract: | What drives voter decisions on carbon pricing? Analyzing Switzerland's 2021 CO2 Act referendum, this paper finds that support was substantially higher in municipalities experiencing unusually warm weather during the voting period. This effect is most robust relative to a recent temperature baseline, consistent with a 'frog in hot water' effect. Opposition was stronger in areas with higher correlates of policy costs, such as car ownership and manufacturing employment. Evidence on long‐run temperature trends is mixed. These findings suggest that future weather anomalies may increase electoral support for carbon pricing. |
| Keywords: | Carbon Pricing Support, Referendum, Temperature Anomalies, Climate Change |
| JEL: | Q4 D7 H2 |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:tcd:tcduee:tep1326 |
| By: | Lisa Rennels; Frank Errickson; David Smith; Bryan Parthum; Klaus Keller; David Anthoff |
| Abstract: | Evaluating the economic impacts of climate policies is important for designing a response to climate change. One typical approach to assessing mitigation policy options uses integrated climate-economy models to analyze tradeoffs between the costs of reducing greenhouse gas emissions and the benefits of reducing climate damages. However, the uncertainty characterizing these models poses significant challenges for policymakers. We address this difficulty using a robust decision-making framework to evaluate mitigation policy. We show that a shift from a decision framework that maximizes expected outcomes to one that is averse to regret suggests more aggressive emissions reductions. Uncertainties about socioeconomic trajectories and the magnitude and functional form of climate damages create the asymmetric consequences of weak mitigation policy that encourage aggressive emissions reductions and precaution in the face of uncertainty. |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2607.07655 |
| By: | Centre for Policy Dialogue |
| Abstract: | Bangladesh is facing frequent climatic disasters due to climate change, despite contributing to 0.52 per cent of global greenhouse gas (GHG) emissions in 2022 (Climate Watch, 2025). Climate change has adverse impact on temperature, air quality, and water level. Concurrently, salinity intrusion in the southwestern regions has intensified, disrupting traditional agricultural practices. These changes have led to a transformation in cropping patterns, while agricultural activities in the northern areas have also experienced severe adverse impacts due to climate-induced stresses. These disasters have adversely affected economic activities through losses in agricultural production, infrastructure damage, and disruptions to livelihoods and markets. From 2000 to 2019, the country has suffered around USD 3.72 billion of economic losses from different natural disasters (Ahsan, et al., 2024). |
| Keywords: | Climate Finance, Climate Budget, Fiscal Framework, Youth Dialogue, Climate Policy, Climate Adaptation, Climate Resilience, Bangladesh Climate, SDG 13, Climate Governance |
| Date: | 2025–12 |
| URL: | https://d.repec.org/n?u=RePEc:pdb:pbrief:88 |
| By: | Khondaker Golam Moazzem; Jebunnesa; Mehadi Hasan Shamim |
| Abstract: | Bangladesh’s power sector is at a crossroads. While national policies envision an ambitious shift towards renewable energy, progress on the ground has remained slow and fragmented. This study provides a timely and evidence-based roadmap to address these challenges by reassessing demand projections and proposing a realistic fuel mix for 2030, 2035, and 2040. |
| Keywords: | Renewable Energy, Power Generation, Energy Transition, Solar Energy, Wind Energy, Climate Finance, Energy Investment, SMART Targets, Energy Policy, Bangladesh Energy |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:pdb:report:75 |
| By: | Khondaker Golam Moazzem; Jebunnesa; Mehadi Hasan Shamim |
| Abstract: | Bangladesh’s power sector is at a crossroads. Whilst national policies envision an ambitious shift towards renewable energy, progress on the ground has remained slow and fragmented. This study provides a timely and evidence-based roadmap to address these challenges by reassessing demand projections and proposing a realistic fuel mix for 2030, 2035, and 2040. |
| Keywords: | Renewable Energy, Power Generation, Energy Transition, Solar Power, Wind Power, Climate Finance, Energy Investment, Energy Policy, Fossil Phaseout, Bangladesh Energy |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:pdb:report:77 |
| By: | Rosciszewski-Dodgson, Michael J.; Cirella, Giuseppe T. |
| Abstract: | As ecological and economic pressures mount in the Baltic Sea, commercial fisheries face increasing challenges. This study investigates fishermen’s perceptions of four major threats—climate change, pollution, overfishing, and marine predators—with attention to vessel size (fishing boat, cutter, supercutter) and target species (demersal, mixed, small pelagic). Based on 129 surveys and 28 interviews across Poland, the analysis shows that while all threats are acknowledged, perceptions vary significantly by operational context. Seventy-eight coded interview quotations illustrate how sector-specific experiences shape these views, underscoring the need to integrate them into fisheries governance. Friedman test results (p < 0.001) confirm significant variation across threat categories, with the strongest contrasts for overfishing and predator concerns. Smaller vessels targeting demersal and mixed stocks identified predators as the primary threat, while supercutters and pelagic operators emphasized quota restrictions and international competition. Climate change and pollution were viewed as less immediate, though some reported localized impacts. Incorporating sector perspectives is essential for adaptive, sustainable fisheries management. |
| Date: | 2026–06–22 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:ysjwa_v1 |
| By: | Carlos Rodriguez-Pardo; Massimo Tavoni |
| Abstract: | Foundation models for Earth systems have so far been trained primarily on physical climate and weather data, with limited representation of the human systems that both drive and respond to environmental change. The lack of a unified global training resource that combines climate, land, ocean, cryosphere, infrastructure, hazards, and socioeconomic data on a common grid hinders progress toward truly multimodal Earth system foundation models. We present WorldTensor, a harmonised global dataset that aligns hundreds of environmental and socioeconomic variables to a standardised 0.25$^\circ$ spatial grid and annual temporal framework. WorldTensor integrates reanalysis products, remote sensing, emissions inventories, land use reconstructions, hydrological observations, infrastructure and hazard datasets, and socioeconomic indicators within a single representation designed for machine learning workflows. To build the dataset, we regridded inputs across heterogeneous native resolutions and projections, rasterised point and vector datasets into spatially meaningful gridded fields, and reconciled temporal coverages ranging from daily observations to sparse multiyear socioeconomic snapshots. All outputs are distributed as NetCDF files with standardised coordinates, variable metadata, and a common CF metadata convention. WorldTensor provides a reproducible resource for training and evaluating foundation models that learn coupled dynamics across environmental and human systems at planetary scale. |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2607.03298 |
| By: | Deniz Atalar; Banu Demir Pakel; Swati Dhingra |
| Abstract: | Environmental regulations often generate environmental improvements at home, yet their consequences may extend far beyond the countries that adopt them. The international incidence of environmental regulation remains poorly understood. We study where the resulting environmental damages emerge and who ultimately bears their costs using China's 2017 ban on waste imports, which triggered a large reallocation of global recycling activity. Combining international trade data, administrative records, direct measures of firms' waste mismanagement, and local pollution data in the main destination for diverted waste, we examine the international incidence of environmental regulation by tracing the rarely observed process linking trade reallocation to firm behavior, pollution exposure, and welfare. The ban increased pollution-intensive plastic waste imports, lowering input costs for downstream firms using recyclable materials. Meanwhile, imported waste displaced domestic recyclables, leading firms to adopt harmful disposal methods. The environmental damages from air pollution exceeded the economic gains from access to lower-cost inputs. |
| Keywords: | Pollution Haven Hypothesis, waste trade |
| JEL: | F18 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12770 |
| By: | Thabit Atobishi; Saeed Nosratabadi |
| Abstract: | The healthcare sector contributes approximately 4.4% of global greenhouse gas emissions, yet research on the organizational determinants of sustainable behaviors among healthcare workers remains limited. This study examines how green transformational leadership and ethical climate influence sustainable clinical behaviors among registered nurses, with green psychological climate as a mediator and perceived organizational hypocrisy as a moderator. Data were collected from 760 nurses across 11 public and private hospitals in Jordan using a cross-sectional survey design. Structural equation modeling with bootstrapping was employed to test the hypothesized relationships. The results revealed that both green transformational leadership and ethical climate positively predicted sustainable clinical behaviors. Green psychological climate partially mediated both relationships. Perceived organizational hypocrisy significantly weakened the positive effects of green transformational leadership and ethical climate on sustainable behaviors. The model explained 35.7% of the variance in sustainable clinical behaviors. These findings highlight that fostering sustainability in healthcare requires not only supportive leadership and ethical organizational environments but also authenticity and consistency between stated values and actual practices. The study extends green transformational leadership theory to healthcare settings, integrates ethical climate research with environmental sustainability, and introduces perceived organizational hypocrisy as a critical boundary condition. Practical implications for healthcare administrators seeking to reduce their environmental footprint are discussed. |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2606.29056 |
| By: | Mohamed Jaufer, Mohamed Aabidh |
| Abstract: | This essay examines the extent to which the Sustainable Development Goals (SDGs) can be achieved in Asia by 2030 and honestly, it's a mixed bag. Through comprehensive analysis of regional data and case studies, this research demonstrates that while Asia has made significant strides in poverty reduction and economic development, substantial challenges remain in environmental sustainability, inequality reduction, and institutional capacity building. The analysis reveals that achieving the SDGs by 2030 requires transformative reforms in governance structures, financing mechanisms, technological innovation, and regional cooperation frameworks. Without accelerated action and systemic reforms, Asia will fall short of several critical SDG targets, particularly those related to climate action, sustainable consumption, and social equity. The findings suggest we're at a crossroads and the choices made in the next few years will determine whether billions of people see their lives improve or continue to struggle. |
| Keywords: | Economics Sustainability Sustainable Development Goals |
| JEL: | O16 O33 |
| Date: | 2025–08–28 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:130165 |
| By: | Quophy, Barbara |
| Abstract: | Global climate finance flows have expanded rapidly in recent years, yet access remains uneven across actors involved in implementing nature-based solutions (NbS). Small-scale and locally embedded enterprises play a critical role in delivering NbS, generating employment, and supporting climate adaptation and ecosystem restoration at the community level. However, these actors continue to face structural barriers to accessing international climate finance. This paper examines why global climate finance mechanisms frequently fail to reach small-scale nature-based enterprises. Drawing on a synthesis of existing literature, development reports, and policy analysis, the paper identifies key constraints related to scale and compliance requirements, misaligned financial instruments, informality and lack of institutional recognition, and intermediary practices that favor large-scale projects. The analysis highlights how current financing frameworks undervalue the social, environmental, and decent work co-benefits generated by small-scale NbS enterprises. The paper concludes by outlining practical policy implications for governments, multilateral agencies, donors, and financial intermediaries, emphasizing the need for proportionate compliance frameworks, targeted technical assistance, and financing instruments aligned with local implementation realities. Addressing these gaps is essential to ensure that climate finance supports inclusive, locally rooted, and employment-generating nature-based solutions. |
| Keywords: | Climate Finance; Nature-Based Solutions; Small and Medium Enterprises; Decent Work; Sustainable Development; Inclusive Finance |
| JEL: | Q54 |
| Date: | 2026–02 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:128511 |
| By: | Monasterolo, Irene; Naumann-Woleske, Karl; Russo, Carmine |
| Abstract: | We explore the role of insurance as a financial instrument for the management of climate-related natural disasters (or acute physical risks). First, we review and critically discuss the drivers of the climate insurance protection gap (IPG) considering both its supply-side and demand-side dimensions, and we identify their driving economic mechanisms. Then, we develop a conceptual framework to understand how the IPG affects the sovereign fiscal sustainability and financial stability, and through that the availability and costs of public and private investments for climate adaptation. Building on these results, we develop a research agenda to scale up the role of public and private insurance (and reinsurance) and narrow the IPG in a fiscal and financial stability-aware way. We identify (i) a proper use of science-based climate scenarios at the relevant disaggregation level, (ii) the ex-ante analysis of the macroeconomic and financial impacts of underinsurance, (iii) the analysis of the economic co-benefits of adaptation policy, and (iv) sustainable market design and governance as as key areas for future research. |
| JEL: | G22 G32 H63 Q54 |
| Date: | 2025–09 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20641 |
| By: | Bettarelli, Luca; Furceri, Davide; Ganslmeier, Michael; Schiffbauer, Marc |
| Abstract: | Beyond its environmental damage, climate change is predicted to produce significant economic costs. Combining novel high-frequency geospatial temperature data from satellites with measures of economic activity for the universe of US listed firms, this article examines a potentially important channel through which global warming can lead to economic costs: temperature uncertainty. The results show that temperature uncertainty—by increasing power outages, reducing labor productivity, and increasing the degree of exposure of firms to environmental and non-political risks, as well as economic uncertainty at the firm-level—persistently reduce firms’ investment and sales. This effect varies across firms, with those characterized by tighter financial constraints being disproportionally more affected. |
| Keywords: | Temperature; Uncertainty |
| JEL: | E30 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20469 |
| By: | Desbureaux, Sebastien; Collart, Lara; Stoop, Nik; Soubeyran, Raphael; Verpoorten, Marijke; Couttenier, Mathieu; Cikesa, Christine; de la Croix Kembere Mulwahili, Jean; Shinagawa, Natsuno |
| Abstract: | Our randomized control trial investigates how to accelerate the transition to clean cooking and quantifies the benefits for people and the environment. Fully subsidizing the purchase of an electric cooker to 1, 594 urban households in the DRC led to widespread adoption (85%) and high usage (28% of meals). Charcoal consumption decreased by 34%, reducing overall monthly energy costs by $5.76 despite higher electricity spending. The rise in electricity purchases enables subsidy recovery through a razor-and-blade model. After one year, the welfare gains, including lower CO2 emissions and improved protection for mountain gorillas, are twice as high as the cost of the subsidy. |
| JEL: | Q42 O13 Q51 Q57 C93 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20403 |
| By: | Ciccolini Giuseppe (European Commission - JRC); Joossens Elisabeth (European Commission - JRC); Le Blanc Julia (European Commission - JRC); Pasqualino Roberto (European Commission - JRC); Sanye Mengual Esther (European Commission - JRC) |
| Abstract: | This Science-for-Policy brief examines how the consumption footprint of EU households varies across income groups. Drawing on novel microdata combining EU Household Budget Survey expenditure data with product-level impact factors from the JRC Consumption Footprint, the analysis covers 16 environmental impact categories and includes the footprint of imported goods. The richest 20% of EU households account for over 25% of the total consumption footprint — a quarter more than an equal distribution would imply — while the poorest 20% account for less than 15%. The gap is sharpest for mobility, where the richest generate around three times the footprint of the poorest. Even lower-income households exceed planetary boundaries, though they transgress fewer and by smaller margins. When consumption footprints are expressed in monetary terms, the richest 20% generate around 8 000 euro per household per year in unpaid environmental damage — nearly twice the 4 500 euro generated by the poorest. As a share of expenditure, however, this unpaid damage is proportionally larger for lower-income households. The brief argues that a fair green transition requires a dual policy approach: consumption shifts for affluent households, and systemic change — cleaner energy, sustainable food systems, accessible infrastructure — for lower-income ones. |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc146384 |
| By: | Roberto Esposti (Department of Economics and Social Sciences, Universita' Politecnica delle Marche (UNIVPM)) |
| Abstract: | This paper evaluates the sustainability of organic farming by testing whether it achieves a win–win–win outcome, improving farm-level environmental and economic performance without compromising aggregate agricultural output. We adopt a quasi-experimental design that accounts for voluntary adoption and allows for heterogeneous treatment effects. We combine Random Forest and LASSO methods, enabling flexible, fully interactive modeling with high-dimensional covariates. The analysis is based on a balanced panel of Italian farms from the FADN dataset covering the period 2008–2022. The results reveal substantial heterogeneity in the effects of organic farming adoption. A win–win–win outcome does not emerge on average but is observed only for a small subset of farms; for other groups, the full sustainability of organic adoption appears questionable. These findings call for more targeted and differentiated policy support to promote organic farming. |
| Keywords: | Sustainable Farming, Organic Agriculture, Heterogeneous Treatment Effect, Double Machine Learning |
| JEL: | C14 C23 Q01 Q12 |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:anc:wpaper:508 |
| By: | Giglio, Stefano; Kuchler, Theresa; Ströbel, Johannes; Wang, Olivier |
| Abstract: | We outline a research agenda to better understand the economic and financial consequences of nature and biodiversity loss. Our starting point is a simple model in which ecosystem services — such as pollination, water filtration, and carbon sequestration — enter economic production, and where nature degradation and climate change reinforce one another through a "Twin-Crises Multiplier." We then extend this framework to allow for heterogeneity across firms, industries, and geographies in how they depend on, and in turn affect, nature. This broader perspective provides a foundation for empirical analyses of how biodiversity loss influences aggregate output, firm productivity, and financial risk. We conclude by identifying opportunities for asset pricing and corporate finance research to systematically incorporate nature and biodiversity into financial economics. |
| JEL: | Q3 Q5 G1 |
| Date: | 2025–09 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20662 |
| By: | Vinish Shrestha (Department of Economics, Towson University) |
| Abstract: | This study identifies the causal environmental and health impacts of a decline in coal fired power plants' activities following a sharp drop in natural gas prices between 2008 and 2012. We develop a spatial framework — Spatial Buffer-Grid Smoothing (SBGS)---that identifies non-administrative exposure boundaries around CFPP clusters using machine-learning methods, capturing pollution diffusion beyond the plant level. We further refine exposure classification using prevailing wind direction to distinguish downwind (exposed) from upwind (unexposed) counties. Using a difference-in-differences design, we find that PM2.5 concentrations in exposed counties declined by 0.237 μg/m3 annually during 2008--2012 and 0.206 μg/m3 during 2013–2016, relative to unexposed counties. Decomposing PM2.5 into its constituents reveals that sulfate, the component most directly linked to coal combustion, exhibited the largest decline. Correspondingly, age-adjusted mortality rates in exposed counties fell by 0.6 percent during 2008–2012 and 1.39 percent during 2013–2016, with effects growing over time. This pattern is consistent with cumulative health benefits from sustained improvements in air quality. The estimates are robust across specifications, distance thresholds, and alternative machine-learning classifiers. Convert- ing the estimated mortality reductions to a dollar value implies that the decline in coal-fired generation produced approximately 57.4 billion in health benefits between 2008 and 2016. |
| Keywords: | Coal externalities, Coal-fired power plants, Air pollution, PM2.5, Mortality, Spatial exposure, Value of a statistical life. |
| JEL: | I18 Q53 |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:tow:wpaper:2026-11 |
| By: | Fabien Prieur (CEE-M) |
| Abstract: | We develop a dynamic model of exhaustible resource exploitation, with exploration, in which a regulator determines the end date of the fossil regime by trading off industry profits against climate damages. The weight assigned to damages reflects the fossil industry's pre-existing political influence. We compare Nash and Stackelberg interactions between the industry and the regulator. Under Nash behavior, regulation shortens the fossil regime and reduces cumulative emissions relative to the unregulated benchmark. Under Stackelberg leadership, however, a monopoly may increase exploration relative to the Nash outcome in order to delay the transition. Calibrating the model to global oil market data, we obtain that strategic leadership increases reserves by approximately 7% relative to the Nash outcome and delays the transition by about 2-3 years. The analysis thus provides an explanation for sustained upstream fossil fuel investment despite announced net-zero commitments. |
| Keywords: | exploration, energy transition, political influence, Nash vs Stackelberg interaction, |
| JEL: | D72 C73 Q54 |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:fae:wpaper:2026.05 |
| By: | Joshua Greubel; Fabian Herweg |
| Abstract: | We study polluting firms that require loans from a monopolistic bank to invest in abatement technology. Firms differ in the effectiveness of abatement investment, and this effectiveness is private information. The bank offers a screening contract under which high-cost firms receive too little capital and therefore emit excessively. A regulator restricted to tax policy responds by setting an environmental tax above marginal environmental damage, i.e., above the Pigouvian level. The first-best allocation can be restored by combining the Pigouvian tax, which ensures efficient abatement, with tailored, type-specific loan subsidies that correct the credit-market distortion. |
| Keywords: | abatement investment, asymmetric information, environmental taxation, financial frictions, screening |
| JEL: | D82 G21 H23 Q58 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12828 |
| By: | Gonon, Morgane; Godin, Antoine; Daumas, Louis; Althouse, Jeffrey; Svartzman, Romain |
| Abstract: | More comprehensive debt solutions are needed to leverage liabilities for environmental protection. Despite growing interest in integrated debt–environment solutions, the existing literature overlooks the macro-financial linkages that shape sovereign risk, capital flows, and fiscal space. To fill this gap, this paper explores the intersection of sovereign debt relief, green investment, and macro-financial stability by modeling green debt instruments at the macroeconomic scale and assessing their robustness under uncertainty. Using Colombia as a case study, we adapt the GEMMES macroeconomic framework—a dynamic Stock-Flow Consistent model—to simulate various debt management strategies under a multi-objective robust decision-making approach. We identify robust Pareto-optimal combinations of four debt relief levers : (1) greenium (concessional borrowing), (2) foreign investment in local currency-denominated bonds, (3) interest renegotiation and (4) principal adjustment, i.e. combinations that balance public investment, inflation control, and external stability to support Colombia's climate and biodiversity investment. Two types of Pareto-optimal strategies emerge: (1) a controlled approach aimed at reducing foreign debt-related vulnerabilities, and (2) a more ambitious strategy involving the swap of old debt for new, highly subsidized loans. While debt relief can temporarily ease trade imbalances, lasting macroeconomic stability requires structural changes in production and exports. This research contributes to the ongoing research stream on the international financial architecture and green transition support by, first, bridging post-1990s macroeconomic analyses of debt relief with contemporary sustainable development challenges, and second, highlighting the importance of integrating macroeconomic resilience into the development finance literature. |
| Keywords: | Sovereign debt; Debt relief; Balance sheets |
| JEL: | F34 F36 F55 Q56 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20443 |
| By: | Fleurbaey, Marc; Kornek, Ulrike; Edenhofer, Ottmar |
| Abstract: | An international carbon pricing regime offers significant efficiency gains by avoiding climate change and reducing emissions at least cost. We clarify the role that country-specific prices play with respect to efficiency and burden sharing in an unequal world. Country-specific carbon prices are efficient and serve society's equity objectives if second-best constraints exclude optimal transfers to deal with pre-existing inequalities. This also holds true within the framework of carbon markets, where trade at a common price is just one allocation at the (constrained) Pareto-efficient frontier if the initial permit allocation is fixed. A common carbon price aligns with social objectives if transfers or initial permit allocations can be freely adjusted, and otherwise differentiated prices may be preferable. But the social welfare gains from differentiated carbon prices may vary depending on empirical facts. We present a theoretical model which connects the level of national carbon prices to the choice of social welfare functions that capture various equity principles. With a calibrated integrated assessment model we quantify country-specific carbon prices for a large set of countries and show that they can significantly promote social welfare. |
| JEL: | D62 D63 Q54 Q58 |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20723 |
| By: | Nicolás Forteza (BANCO DE ESPAÑA); José M. Labeaga (UNIVERSIDAD NACIONAL DE EDUCACIÓN A DISTANCIA, SPAIN) |
| Abstract: | Low emission zones (LEZs) have emerged as a primary policy instrument to combat urban air pollution in Europe, yet rigorous evidence on their effectiveness and spatial spillovers remains limited. Using a high-resolution geospatial panel dataset covering 1km grid cells across 33 European countries from 2007 to 2022, we estimate that LEZ adoption reduces PM2.5 exposure by approximately 4% within designated zones. We find robust evidence of positive spillovers: pollution also declines in areas adjacent to LEZ boundaries. These average effects mask substantial heterogeneity: reductions are concentrated in larger, denser cities and in cities with medium-sized zones relative to total urban area, while the smallest cities and zones show no detectable effect. These findings suggest LEZs generate city-wide environmental benefits extending beyond formal boundaries, consistent with network effects and technology spillovers dominating displacement mechanisms. To contextualize these results, we estimate the pollution-density elasticity for European cities using instrumental variables based on historical settlement patterns, finding that a 1% increase in population density raises PM2.5 exposure by 6% (approximately half the magnitude documented for US cities). We interpret our findings through a spatial equilibrium model that formalizes how LEZs alter the pollution production function in monocentric cities. Our results indicate that moderate-stringency LEZs, as typically implemented across Europe, deliver meaningful aggregate pollution reductions of approximately 1.8% city-wide, with modal shift complementarities and fleet renewal mechanisms dominating traffic displacement effects. |
| Keywords: | low emission zones, air pollution, PM2.5, urban density |
| JEL: | I10 Q53 Q58 R11 R12 |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:bde:wpaper:2621 |
| By: | Marine Kohler (LGI - Laboratoire Génie Industriel - CentraleSupélec - Université Paris-Saclay); Natalia Costa I Coromina (Energy Impact Partners); Pascal da Costa (LGI - Laboratoire Génie Industriel - CentraleSupélec - Université Paris-Saclay); Peter Fox Penner (Energy Impact Partners); François Cluzel (LGI - Laboratoire Génie Industriel - CentraleSupélec - Université Paris-Saclay) |
| Abstract: | In a context of insufficient global regulation, a substantial proportion of firms set voluntary greenhouse gas emissions reduction targets. This study draws on a new dataset of about 1, 000 GHG Protocol-compliant assessments from a thousand Europe and US-based small and medium enterprises and mid-sized firms between 2019 and 2024 to investigate how emissions metrics compare across as companies grow and consolidate their productivity. Moving beyond the conflicting environmental Kuznets curve evidence and the traditional focus on large enterprises, we uncover a new, untheorized link between emissions and firm productivity. Using competing polynomial and threshold regression models, and addressing endogeneity, selection bias and omitted variable bias by relying on Granger causality, Hausman instruments, poststratification, Oster sensitivity tests and split sample testing, we establish that contrary to the classic inverted U shape of the EKC, corporate emissions and emissions intensities do not show a clear turning point but instead stabilize once over a critical threshold in revenue per employee. We find raising productivity can halve per revenue intensities despite simultaneous fourfold and twofold surges in absolute and per-employee emissions. This structural influence of financial productivity challenges the fairness of corporate net-zero targets that assume comparable baseline intensities across firms. |
| Keywords: | Corporate Net-Zero targets, Threshold approach, Environmental Kuznets curve, Corporate climate performance |
| Date: | 2026–06–09 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05170003 |
| By: | Berg, Claudia; Bettarelli, Luca; Furceri, Davide; Ganslmeier, Michael; Grover, Arti; Lang, Megan; Schiffbauer, Marc |
| Abstract: | Are firms adapting to climate change? We combine World Bank Enterprise Survey data covering 160, 000 firms in 134 countries with spatially granular weather data to estimate temperature response functions. Firms in low- and lower-middle income countries (LMCs) are negatively affected by rising heat: revenues decline by 12 percent when temperatures are 0.5â—¦C above historical averages for small and medium firms. Labor productivity and wages fall and energy costs rise, with effects concentrated in heat sensitive sectors. However, only one-third of firms in LMCs take adaptive measures. Information on policy constraints suggests that limited financing and burdensome regulation constrain firm-level adaption. |
| Keywords: | climate adaption |
| JEL: | D22 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20513 |
| By: | Vincenzo Varriale (UNISA - Università degli Studi di Salerno = University of Salerno); Antonello Cammarano (UNISA - Università degli Studi di Salerno = University of Salerno); Moacir Godinho‐filho (Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School, UFSCar - Federal University of São Carlos = Universidade Federal de São Carlos) |
| Abstract: | This study investigates how advanced technologies support Sustainable Development Goals (SDGs) within supply chain management (SCM) through a structured analysis of 4448 sustainable practices. By integrating perspectives from sustainability-oriented innovation (SOI) and contingent dynamic capabilities, the research conceptualizes technology adoption as a context-dependent driver of environmental, economic, and social performance. Eleven advanced technologies are mapped across 25 supply chain (SC) processes and 169 SDG targets using association indices and Pearson correlations, revealing hidden linkages and recurrent technological configurations. The results highlight the central role of AI, IoT, blockchain, and computing in accelerating sustainability transitions, while exposing a persistent underrepresentation of social-oriented practices. An integrated mapping synthesizes patterns of technological implementation across SC processes, offering a holistic understanding of SOI alignment. Building on these insights, the study proposes a framework for guiding digital transformation in SCs, providing actionable managerial and policy implications to strengthen strategic coherence and support SDG-oriented decision-making. |
| Keywords: | Sustainable supply chain management, SDG, Internet of things, Blockchain, Artificial intelligence, Advanced technologies |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05654137 |
| By: | C. Feger (AgroParisTech, MRM-CS - Montpellier Research in Management - Comptabilités et Société - MRM - Montpellier Research in Management - UPVD - Université de Perpignan Via Domitia - UM - Université de Montpellier, 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 - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique - ENPC - École nationale des ponts et chaussées - IP Paris - Institut Polytechnique de Paris); Noubon René Yéo; Christophe Bouni (Applications des sciences de l'action (ASCA)); Jean-Baptiste Narcy (Applications des sciences de l'action (ASCA)) |
| Abstract: | Faced with the ongoing deterioration of aquatic environments and biodiversity due to a variety of anthropogenic pressures and climate change, the issue of coordinating and strategically guiding environmental action is a key challenge. This research paper reports on the results of an experiment with an innovative approach: "ecosystem-centered accounting." This approach involves developing shared accounting systems to coordinate the preservation and restoration of natural environments among several actors and at several levels (local and regional). This three-year intervention-based research project was conducted in three study areas representative of the major challenges facing aquatic environment protection in Occitanie and has enabled initial conclusions to be drawn about the potential of this method for equipping coalitions of territorial actions in favor of biodiversity. Promising prospects have been identified for its further development, adoption, and dissemination among local authorities and professionals involved in natural environment management. |
| Abstract: | Face à la dégradation continue de la qualité des milieux aquatiques et de la biodiversité sous l'effet d'une diversité de pressions anthropiques et du changement climatique, la question de la coordination et de la conduite stratégique de l'action environnementale est un enjeu central. Ce Cahier de recherche rend compte des résultats de l'expérimentation d'une approche innovante : la « comptabilité écosystème-centrée ». Celle-ci consiste à construire des comptabilités partagées pour coordonner l'action de préservation et de restauration des milieux naturels entre plusieurs acteurs et à plusieurs échelles (locale et régionale). Cette recherche-intervention de trois ans a été conduite sur trois terrains d'étude représentatifs des grands enjeux de protection des milieux aquatiques d'Occitanie et a permis de tirer des premières conclusions sur le potentiel de cette méthode pour équiper des coalitions d'actions territoriales en faveur de la biodiversité. Des perspectives prometteuses ont été identifiées pour en poursuivre le développement, l'appropriation et la diffusion auprès des collectivités et professionnels de la gestion des milieux naturels. |
| Date: | 2025–05 |
| URL: | https://d.repec.org/n?u=RePEc:hal:ciredw:hal-05405567 |
| By: | Liu, Teng; Constantz, Brook; Hale, Galina; Beck, Michael |
| Abstract: | Measuring the financial value of nature is difficult, often resulting in insufficient funding directed to nature conservation and restoration. As coastal risks increase from development and climate change, a tangible benefit of nature is the protection it offers against storm damages. Many studies from the risk industry and others assess the direct effects of wetlands for reducing damage during storms. However, the value of wetlands for coastal protection could extend to many other benefits, including home prices in areas where storms are common. We use property-level housing transaction data from Zillow and show that proximity to mangroves in Florida moderates home price decline and dispersion following major hurricanes. The effects are substantial in magnitude, reducing the probability of losing a quarter or more of housing value by 2-7 percentage points, which corresponds to 20-40-thousand-dollar value for a million-dollar property, conditional on a hurricane. |
| Keywords: | climate |
| JEL: | Q54 G12 R31 |
| Date: | 2025–09 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20684 |
| By: | Marianna Epicoco |
| Abstract: | This paper analyzes the relationship between climate change, technological change and affluence. Our expected contribution is to provide a deeper conceptualization of technological change, while taking into account ecological limits, justice and democratic concerns. To this end, we analyze and try to combine evolutionary theories of long-run economic development and limits-to-growth theories, i.e., post-growth and degrowth. We suggest that technological change, even if directed by government policies in the “right directions”, is unlikely to rapidly reduce global emissions. Hence, a significant reduction in global affluence is as necessary as a faster low-carbon transition in order to limit climate change, stay within ecological limits and achieve a more just transition. We also suggest that the lowcarbon transition can be conceptualized as an ecological technological revolution, which can originate a new phase of economic development through major qualitative changes of socio-economic systems in dominant technologies, sectors, firms, institutions and societal values. Finally, we propose that a cap on affluence can be conceptualized as a technology cap, which can accelerate and shape a lowcarbon transition by activating two processes. The first is an endogenous process of co-evolution or cumulative causation between minimalist demand and investment in ecological technologies. The second is a process of debate and democratic definition of an ecological technological paradigm, which can enable socio-institutional actors to act as exogenous unlocking factors. Both these processes, and the forces that shape them, should enable the qualitative evolution of socio-economic systems towards ecology, without necessarily produce their quantitative growth. |
| Keywords: | Climate change; Technological revolutions; Affluence; Long-run economic development; Ecological technological revolution; Technology cap. |
| JEL: | Q50 O33 O11 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ulp:sbbeta:2026-24 |
| By: | Cherbonnier, Frédéric; Ivaldi, Marc; Muller-Vibes, Catherine; Van Der Straeten, Karine |
| Abstract: | This study estimates the impact of a carbon tax on welfare, considering modal shifts to less carbon-intensive transport, as well as its effects on environmental and fiscal externalities. We calibrate a modal competition model using logit demand functions for a specific long-distance connection in France and simulate the introduction of a Pigouvian tax. Our key findings are: First, a €190/tCO2 carbon tax is nearly welfare-neutral but significantly detrimental to consumer surplus; Second, rail price regulation has the side effect of reducing greenhouse gas emissions by subsidizing the cleanest transport mode; Third, the widespread adoption of electric vehicles enhances overall welfare without significantly harming consumer surplus. |
| JEL: | D43 L91 R40 Q51 |
| Date: | 2025–08 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20515 |
| By: | Dmitry Gromov; Prateek Verma; Amelie Luhede; Thorsten Upmann |
| Abstract: | This study analyses the economic value of information in dynamic environmental decision-making, focusing on how pre-decision resolution of parameter risk affects optimal policy paths. We develop a framework that integrates optimal control (OC) theory with the Value of Information (VoI) concept. Using a continuous-time pollution control model, we analytically derive VoI for different types of uncertainty - initial conditions and model parameters - highlighting how the structure of uncertainty affects its value. We introduce a benchmark "naive certainty-equivalent" policy that ignores uncertainty and quantify the resulting excess in the expected value of perfect information. Our results show that VoI depends on whether uncertainty changes the marginal intertemporal trade-off faced by the decision maker. Information about the initial pollution stock has no value in the present linear-quadratic setting, because it affects welfare levels but not the optimal policy path. By contrast, information about the environmental absorption rate has strictly positive value for any non-degenerate distribution, because it changes the effective persistence of pollution and therefore the optimal balance between current production and future environmental damages. The proposed approach provides a tractable and extensible method for quantifying VoI in intertemporal environmental management problems under parametric risk. |
| Keywords: | environmental decision-making, Intertemporal pollution control, parametric risk, value of information, optimal control |
| JEL: | D81 C61 Q52 Q58 Q20 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12768 |
| By: | Crosignani, Matteo; Osambela, Emilio; Pritsker, Matt |
| Abstract: | Are carbon emissions priced in equity markets? The literature is split with different approaches yielding conflicting results. We develop a stylized model showing that, if emissions are priced, stock returns depend on expected emissions and the product of the innovation in emissions and the price-dividend ratio. Building on this insight, we derive and test new predictions. We find that emissions are priced in equity markets, but the magnitude of such pricing is highly sensitive to the inclusion of a few “super emitters†(mostly operating in electric power generation). Our theoretical insight also helps reconcile seemingly divergent results in the literature. |
| Keywords: | Carbon emissions; ESG |
| JEL: | D62 G11 G12 Q54 |
| Date: | 2025–08 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20531 |
| By: | Santaro Sakata; Roberto Astolfi; Bram Edens; Suyeon Hwang |
| Abstract: | This working paper updates the existing OECD methodology for estimating Air Emission Accounts (AEAs) to enhance their comprehensiveness and international comparability. The new methodology draws primarily on data from national greenhouse gas emission inventories, a range of auxiliary data sources including Physical Energy Flow Accounts, as well as OECD experimental estimates of emissions from air and maritime transport. It improves the quality and granularity of estimates by economic activity (A*64 industry breakdown), expands the geographical coverage to all OECD countries, and extends the temporal scope of the estimates (1990 to year t-2). It also widens the emission coverage to include international air and maritime transport in line with emission boundaries of the System of Environmental Economic Accounting (SEEA), and incorporates the territory–residence adjustments to comply with the SEEA Central Framework (SEEA-CF). These improvements complement ongoing international methodological efforts to refine AEA estimates, such as those developed by the IMF and Eurostat, by drawing more extensively on country-specific data and achieving closer alignment with the SEEA-CF. |
| JEL: | C82 Q53 Q54 Q56 E01 |
| Date: | 2026–07–29 |
| URL: | https://d.repec.org/n?u=RePEc:oec:stdaaa:2026/03-en |
| By: | Prins, Taco A.; van der Ploeg, Frederick; van den Bremer, Ton S. |
| Abstract: | We analyse optimal investment in one of the most important forms of climate adaptation: flood protection. Investments to build dykes and surge barriers involve considerable adjustment costs, so that their construction locks in the level of flood protection for some time. Investment decisions must account for both economic and flood risk, where the latter combines flood damage and sea level rise uncertainty driven by global warming over several decades. We put forward a tractable macro-finance (DSGE) model that includes flood risk. We obtain solutions for optimal flood protection as a function of these uncertainties, costs, and preferences. Economic uncertainty leads to less (more) protection if the elasticity of substitution is greater (less) than one. Sea level rise and flood damage uncertainty always lead to more flood protection, although the first effect is small, only becoming significant after several decades. We illustrate our results with case study for the Netherlands. |
| Keywords: | Sea level rise |
| JEL: | F64 Q51 Q54 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20419 |
| By: | Stefano Carattini; Hanwei Huang; Tejendra P. Singh; Frank Pisch |
| Abstract: | Although the environmental impact of trade has been a long-standing concern, there is still scant evidence on the channels through which international market access affects pollution. We exploit the unique episode of China's world market integration in the early 2000s to provide direct empirical evidence on three such mechanisms, corresponding to each pollution scope: direct pollution at firms' locations (scope-1), indirect pollution from energy generation (scope-2), and indirect pollution from the supply chain (scope-3). We combine granular satellite data on air pollution with detailed information on manufacturing firms and coal power plants, and leverage exogenous foreign demand shocks for identification. Three main findings emerge: exporting firms reduce local pollution; pollution levels around coal power plants rise due to regional export shocks; and upstream suppliers reduce pollution in the face of export demand shocks to downstream firms. Our findings point to China's reliance on coal power plants to fuel its export-driven growth as one of the main drivers of the rise in pollution. |
| Keywords: | trade, pollution, satellite, supply chain, coal power plants, electricity |
| Date: | 2026–07–08 |
| URL: | https://d.repec.org/n?u=RePEc:cep:cepdps:dp2198 |
| By: | Feher, Adam; Garcia-Appendini, Emilia; Mihet, Roxana |
| Abstract: | We leverage a novel dataset on U.S. data center energy loads, utility electricity prices, and establishment-level revenues, employment, and carbon emissions from 2010 to 2023 to examine whether rising data center demand affects local retail energy prices or other spillovers. For identification, we employ an instrumental variables continuous difference-in-differences design, exploiting exogenous variation in data center location attractiveness. We find no detectable local spillover effects from data center energy growth. A regional model calibrated to these null results suggests that shocks larger than those observed through 2023 could still result in noticeable increases in household utility bills if not offset by regulation or external supply. |
| Keywords: | Climate change; Technology adoption; Data Centers |
| JEL: | Q55 Q58 O44 L94 |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20758 |
| By: | Carattini, Stefano; Huang, Hanwei; Pisch, Frank; Singh, Tejendra Pratap |
| Abstract: | Although the environmental impact of trade has been a long-standing concern, there is still only scant evidence on the channels through which international market access affects pollution. In this paper, we exploit the unique episode of China’s world market integration in the early 2000s to provide direct empirical evidence on three such mechanisms. We combine granular satellite data on air pollution with detailed information on manufacturing firms and coal power plants, and leverage exogenous foreign demand shocks for identification. Three main findings emerge: exporting firms reduce local pollution (scope-1); pollution levels around coal power plants rise due to regional export shocks (scope-2); and upstream suppliers reduce pollution in the face of export demand shocks to downstream firms (scope-3). Our findings point to China’s reliance on coal power plants to fuel its export-driven growth as one of the main drivers of the rise in pollution. |
| JEL: | D22 F18 F64 Q53 Q56 |
| Date: | 2025–09 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20650 |
| By: | Hardt, Johanna-Sophia; Hoppe-Wewetzer, Heidrun C.; Klapper, Felix |
| Abstract: | This paper explores the impact of emissions standards on a firm’s output and abatement R&D investment decisions in a duopoly model, extending the work of Amir et al. (2023). It is shown that high upper limits on total emissions remove the firms’ incentives to invest in abatement R&D. This helps firms to coordinate on profit-increasing output levels relative to unregulated markets. Moreover, subsidies for abatement R&D may hurt firms, but improve welfare when the regulation is strict enough. |
| Keywords: | Environmental regulation; Cournot |
| JEL: | L13 Q55 Q58 |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20341 |
| By: | Mazzocchetti, Andrea; Monasterolo, Irene; Dunz, Nepo; Hrast Essenfelder, Arthur |
| Abstract: | Acute physical risks are becoming more frequent and severe, with future scenarios projecting further intensification. Such events can cause significant and potentially persistent economic losses, and can strain public finances due to increasing disaster response and recovery costs. However, so far, macroeconomic models have struggled to capture the impacts of climate physical risks in the economy and public finance in a consistent way. In particular, key shock transmission channels and extreme weather events are often neglected, leading to a partial assessment of disaster losses and of the recovery needs. This information, in turn, is crucial to assess the climate insurance protection gap and to design adequate and financially sound public policy response. To address this gap, we tailor and extend EIRIN, a Stock-Flow Consistent macrofinancial model of an open economy, calibrated at the country level. EIRIN is composed of a limited number of heterogeneous agents and sectors of the real economy, financial sector and market, with the real and financial side of the economy treated in an integrated way. Agents are represented as a network of interconnected balance sheet items calibrated on real data, and are characterised by bounded rationality. This approach enables us to analyse the conditions for economic disruptions to emerge and become persistent, considering climate tail risk scenario, and the role of fiscal and credit constraints as amplification mechanisms. We calibrate EIRIN on Italy, a country that is highly exposed to natural disasters, has significant fiscal vulnerabilities and high public debt. We find that extreme weather events leading to 15% of firms' capital stock loss, coupled with subsequent financial constraints on lending, can trigger large and persistent adverse effects on GDP growth and public debt levels. Negative shocks are amplified in absence of country's adaptation strategies and tailored financial policies. |
| JEL: | B59 E12 Q54 |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20359 |
| By: | Paolo Melindi-Ghidi (Aix-Marseille University, CNRS, AMSE, Marseille France.); Thomas Seegmuller (Aix-Marseille University, CNRS, AMSE, Marseille France.) |
| Abstract: | This paper contributes to the literature interested in the new factors that may determine fertility behaviors. Many studies underlay that environmental concerns have a direct effect on householdsÕ fertility decisions. We present a dynamic model that explicitly examines this interplay, considering whether the number of children and environmental concerns may be complementary or substitutable. Interesting results occur when environmental concerns and the number of children are substitutable. At a stable steady state, a stronger effect of environmental concerns on householdÕs preferences reduces the number of children, as also stressed by a recent literature. The dynamics can be described by an inversely U-shaped relationship between fertility and environmental indicators reflecting the impact of economic production, such as the carbon intensity, as we illustrate using data on US States. The dynamics also explain that regions with lower carbon intensity are those with lower fertility. |
| Keywords: | Fertility, Environmental concerns, , Quantity-quality trade-off, Transitional dynamics, |
| JEL: | J11 J13 Q56 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:fae:wpaper:2024.08 |
| By: | Christian Glocker (WIFO); Thomas Url (WIFO) |
| Abstract: | The gradual transition between different climate states, as evidenced by the smooth rise in temperatures, motivates conceptualizing climate change as a phenomenon influencing the propagation mechanism of traditional macroeconomic shocks, rather than as an independent shock. We formalize this idea through a theoretical model, which shows that climate change induces a structural shift in the economy by steepening the aggregate supply curve, thereby exacerbating the price effects of demand shocks while dampening the output response. Our empirical evidence is consistent with this prediction: higher temperatures raise the share of inflation variation attributable to demand shocks by up to 10 percentage points, underscoring the role of climate change in intensifying stagflationary dynamics rather than independently driving business cycle fluctuations. |
| Keywords: | Climate change, Business cycles, Inflation, Interacted panel VAR |
| Date: | 2026–07–17 |
| URL: | https://d.repec.org/n?u=RePEc:wfo:wpaper:y:2026:i:730 |
| By: | Skander Maraoui; Olivier de Bandt |
| Abstract: | Nous construisons un panel entreprise-banque portant sur des microentreprises et des PME françaises mono-établissement sur la période 2010-2023 afin d’examiner l’impact différencié du réchauffement chronique et des épisodes de chaleur extrême sur l’offre de crédit bancaire. Nos résultats montrent que tant la hausse des températures moyennes que les épisodes aigus de chaleur réduisent significativement la croissance des prêts, principalement à travers les crédits à moyen et long termes. Les banques réagissent toutefois différemment à ces deux dimensions du risque climatique. Afin de distinguer les effets d’offre et de demande, nous analysons les dynamiques sectorielles et mettons en évidence une forte hétérogénéité selon les maturités et les secteurs d’activité. Alors que les secteurs du commerce, des transports, de loisirs et de l’industrie sont affectés par les deux types de chocs, des secteurs comme l’immobilier, la construction ou les services apparaissent davantage sensibles aux chocs de chaleur aiguë. Les résultats sont robustes à l’utilisation de mesures alternatives de l’exposition thermique ainsi qu’à l’inclusion des notations de crédit. Cela suggère que l’exposition aux températures constitue un facteur de risque supplémentaire, encore imparfaitement pris en compte par les dispositifs traditionnels d’évaluation du risque de crédit. |
| Keywords: | Bank Loans, Climate Change, Environmental Risks, Credit Register, Acute and Chronic Heat Stress, Firms |
| JEL: | C23 D22 G21 L25 Q54 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:bfr:banfra:1048 |
| By: | Weisberg, Michael; Warner, Koko; Zommers, Zinta; Nassef, Youssef; Levin, Simon; Akcay, Erol (University of Pennsylvania) |
| Abstract: | Changing climate poses increasing risk to communities worldwide. Climate risk is a complex phenomenon that emerges from the interaction of physical, biological, and social systems. The dominant framework for assessing climate risk, developed across successive IPCC assessments, focuses on hazard, vulnerability, and exposure as contributing components of climate risk. This framework has organized research and policy productively, but it remains limited as it represents these components separate inputs evaluated at a single point in time. As a snapshot, it cannot capture path dependence, compounding, or irreversibility, the properties that make climate risk most difficult to address. To address this limitation, we introduce a Dynamic Climate Risk (DCR) framework that makes the coupling between risk components explicit and tracks their co-evolution over time. Analyzing the hazard–vulnerability coupling, we show that when hazard events outpace recovery, vulnerability fails to return to baseline and instead drifts upward in a self-reinforcing “vulnerability ratchet.” We derive the threshold event frequency at which the ratchet engages, and a lock-in vulnerability beyond which recovery capacity collapses, defining a finite policy window whose length we bound analytically. Mitigation remains essential over the long run, but because hazard is effectively fixed on near-term policy horizons while vulnerability and exposure are not, the most consequential near-term choices concern managing these couplings rather than emissions alone. We illustrate the framework with three cases, Bangladesh, the 2022 Pakistan floods, and the divergent trajectories of Haiti and Cuba, each exercising different parts of its structure. |
| Date: | 2026–06–24 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:p4eka_v1 |
| By: | Rogna Marco (European Commission - JRC) |
| Abstract: | Weather variability is one of the primary sources of risk in farming, differentiating this sector by most other economic activities. As a risk factor, it may not only im- pact farmers directly when detrimental realizations occur, but also indirectly by shaping their behavioural responses. The present paper investigates the role of climate risk in shaping farmers’ decisions on three important agricultural inputs: inorganic and organic fertilizers, and pesticides. By using a short but large panel spanning over eight West African countries, we test several long–term climate risk indicators through Poisson Pseudo Maximum Likelihood adopting the Correlated Random Effect device. Hurdle models are further adopted to disentangle the effects on adoption rate and on intensity of use. The scarcity of precipitations negatively impacts both the adoption and the in- tensity of use of pesticides. For organic and inorganic fertilizers, instead, adoption is negatively affected, while intensity, among the adopters, is fostered. All other tested indicators of climate risk are not significant. The risk of scarce precipitations can be identified as a cause of under–utilization of agricultural inputs in Western Africa that deserves to be addressed. |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:ipt:eapoaf:202606-1 |
| By: | Amrita Goldar (Indian Council for Research on International Economic Relations (ICRIER)); Bishwanath Goldar; Kumar Abhishe; Sunishtha Yadav; Poulomi Bhattacharya |
| Abstract: | The present study is undertaken by applying the ICRIER Samriddhi Model (GTAP-E based), which evaluates the impact of the imposition of CBAM on India's steel exports, thus indicating a pathway India should adopt if the EU imposes a carbon border tax. The study results indicate that CBAM is likely to significantly impact India's steel exports to the EU, causing a fall in India's steel exports to the EU by 24 per cent. The paper also gauges whether the imposition of CBAM would lead to a significant reduction in carbon emissions and finds that a reduction of 1 per cent in aggregate emissions will occur in the global steel industry. |
| Keywords: | CBAM, International trade, Industrial decarbonization, Steel exports |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:bdc:wpaper:433 |
| By: | Mariam Jibuti (Ivane Javakhishvili Tbilisi State University) |
| Abstract: | This study explores the integration of sustainable economic development components and land use models into the regional development strategy of Georgia, with a particular focus on Borjomi Municipality as a case study. The main objective is to assess the extent to which current spatial development aligns with climate-friendly principles and to evaluate the potential effects of alternative territorial development policies.The research is based on an analysis of international experience in sustainable development and regional planning. It identifies key components and indicators of sustainable economic development and develops land use models for alternative regional development scenarios. The study applies the ?People, Planet, Profit? framework, emphasizing a balanced interaction between natural, human, and economic capital.Using Borjomi Municipality as an empirical example, the research employs scientifically grounded models to assess how existing spatial development patterns correspond to sustainability criteria. It also evaluates the potential outcomes of different policy alternatives in terms of environmental impact, economic performance, and social well-being.The findings demonstrate the degree to which sustainability principles are currently embedded in regional development and propose practical mechanisms for their improved integration. The study identifies optimal development scenarios that support climate-friendly growth, enhance regional resilience, and ensure a balanced use of territorial resources.This research was supported by Shota Rustaveli National Science Foundation of Georgia (SRNSFG) [grant number: YS-24-308] |
| Keywords: | Sustainable Regional Development, Land Use Modeling, Climate-Friendly Development, Regional Policy Integration, Borjomi Municipality (Georgia) |
| JEL: | R11 Q01 Q15 |
| URL: | https://d.repec.org/n?u=RePEc:sek:iacpro:15717114 |
| By: | Stefano BOSI; Riccardo BUSO; David DESMARCHELIER |
| Abstract: | We reconsider the pollution-fertility interplay in light of the e§ect of pollution on the marginal utility of consumption in a simple overlapping generations economy. Each household lives two periods. During the youth, the agent divides her time between work and raising children. Income from work is saved and consumed in retirement. The old are also exposed to a pollution externality generated by production activities. The state finances pollution abatement expenditures through a proportional tax levied on production. Notable results emerge, both in the short and long run. In the long run, a higher green-tax rate decreases (increases) the population size when household environmental concerns are low (high). Surprisingly, in the case of higher environmental concern, as the data show, environmental policy can help counter the demographic decline being experienced, notably, by the European Union. In the short run, endogenous áuctuations can arise around the unique steady state when pollution increases the marginal utility of consumption (the so-called compensation effect). More precisely, a persistent twoperiod cycle can emerge through a flip bifurcation, or a limit cycle through a Neimark-Sacker bifurcation. Interestingly, the equilibrium becomes locally indeterminate in the vicinity of the limit cycle, which promotes selffulfflling expectations and greater macroeconomic instability. |
| Keywords: | Overlapping generations model; flip and Neimark-Sacker bifurcations; local indeterminacy; pollution; endogenous fertility. |
| JEL: | C62 H23 O44 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ulp:sbbeta:2026-25 |
| By: | Khondaker Golam Moazzem; Atikuzzaman Shazeed |
| Abstract: | This study provides the first comprehensive assessment of Bangladesh’s renewable energy procurement following the repeal of the Quick Enhancement of Electricity and Energy Supply (Special Provision) Act, 2010. Drawing on legal analysis, international best practices, procurement data, and a large enterprise survey, the report examines how the reinstated Public Procurement Act (2006) and Public Procurement Rule (2008) are shaping transparency, accountability, and efficiency in the country’s transition toward competitive renewable energy auctions. |
| Keywords: | Renewable Energy, Public Procurement, Energy Procurement, Solar Tenders, Transparency, Accountability, Procurement Efficiency, Energy Transition, Grid Connectivity, Bangladesh Energy |
| Date: | 2025–12 |
| URL: | https://d.repec.org/n?u=RePEc:pdb:report:79 |
| By: | Ferreira, Miguel; Pires, Pedro; Soares, Margarida; Trindade, André |
| Abstract: | As consumer and investor demand for sustainability rises, firms are expanding their portfolios to include more sustainable products. This paper investigates whether such firms, as a result, become more exposed to household income shocks. Using U.S. retail scanner data, we find that declines in household income significantly reduce the share of spending on sustainable products—especially among high-income households. These results are robust to alternative sustainability classifications and cannot be fully explained by health considerations. To help identify causal effects, we exploit exogenous variation in household income arising from the timing of tax rebate disbursements under the 2008 Economic Stimulus Payments program. A structural demand model indicates that the effect is driven by both high-income consumers’ lower price sensitivity and a stronger preference for sustainable products, irrespective of price. Our findings suggest that firms focusing on sustainable offerings may face greater demand volatility during income downturns, highlighting trade-offs in aligning business strategies with sustainability goals. |
| Keywords: | Sustainability; Environmental; Social; Household finance; Consumption |
| JEL: | D12 E21 G32 G50 M14 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20465 |
| By: | Ha Nguyen; Mr. Mehdi Raissi; Mr. Bruno Versailles; Alice Tianbo Zhang |
| Abstract: | We construct standardized climate anomalies from daily observations and carefully calibrate physical thresholds to identify storms, floods, droughts, heatwaves, and cold snaps across 196 countries over the period 1970–2023. Using a local projections framework, we estimate the contemporaneous and 2-year effects of each disaster type and collectively on real GDP growth. We find that storms, floods, droughts, and heatwaves significantly reduce growth on impact (by roughly 0.1–0.2 percentage points on average), with the largest effects observed in emerging markets and developing economies. Cold spells have no statistically significant impacts. Our estimations also indicate that the initial drop in GDP growth is often not fully offset by a quick rebound, leaving GDP below the pre-disaster trend in the subsequent two years. Severe disasters impose far larger costs. Catastrophic floods can lower growth by up to 3 percentage points (with once-in-100-year storms or heatwaves reducing growth by ~0.5pp and extreme droughts by ~1pp). By combining the estimated global coefficients with each country’s own disaster intensity, we translate the aggregate results into localized growth effects and cross-check them against estimates from a dynamic heterogenous panel model. Finally, rolling-window estimates indicate that the contemporaneous growth impact of storms and heatwaves has attenuated in recent decades, whereas droughts have become increasingly damaging, reflecting divergent adaptation or even maladaptation and vulnerability trends over time. |
| Keywords: | Local Projections; Natural Disasters; Economic Growth |
| Date: | 2026–06–05 |
| URL: | https://d.repec.org/n?u=RePEc:imf:imfwpa:2026/106 |
| By: | Khondaker Golam Moazzem; Atikuzzaman Shazeed |
| Abstract: | The Interim Government of Bangladesh, as a part of its reform initiatives in the power and energy sector, has repealed the Quick Enhancement of Electricity and Energy Supply (Special Provision) Act, established in 2010. As a result, public procurement in the power and energy sector will be conducted according to the Public Procurement Act (PPA) and Public Procurement Rule (PPR). Under the PPA and PPR, the Ministry of Power, Energy and Mineral Resources (MoPEMR) has invited tenders of 55 solar power plants of sizes ranging from 10 MW to 250 MW in four lots since December 2024. |
| Keywords: | Renewable Energy, Public Procurement, Energy Procurement, Solar Power, Power Sector, Procurement Rules, Energy Transition, Transparency, Accountability, Bangladesh Energy |
| Date: | 2025–12 |
| URL: | https://d.repec.org/n?u=RePEc:pdb:pbrief:89 |
| By: | R. Lowe Christopher; Ponferrada Víctor (European Commission - JRC); Aquino Carlos Ruiz; Compano Ramon (European Commission - JRC); Nanda Amrit (European Commission - JRC) |
| Abstract: | Genetically modified microorganisms (GMMs) build on a long history of use in industrial processes. With the help of technological advances like gene editing and other new genomic techniques, GMMs are being tailored to surpass the limitations of conventional microbial strains and explore new functionalities. While historically confined to closed systems, activities to expand the use of GMMs to environmental release are growing. Several application areas for GMMs have been identified providing examples of products already commercialised or tested in the field. Out of the 23 startups and scaleups identified as developing GMMs for environmental release, only three were over the age of ten years. The majority were based in the US, with two in the EU. The main application area identified for these startups was agriculture (biofertilisers), with also some activities in biomining (copper-leaching), bioremediation (PFAS remediation), food and beverages (probiotics), and cosmetics and personal care (skin treatments). In December 2025, the European Commission published a legislative proposal to amend Directive 2001/18/EC as regards the placing on the market of GMMs, as part of the Biotech Act. This report provides an overview of the technological landscape, sectoral applications, and the scaleup and startup ecosystem around GMMs, excluding healthcare and pharmaceuticals, to feed policy discussions on their safe and scalable deployment in support of the green transition. |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc147414 |
| By: | Borsenberger, Claire; Cremer, Helmuth; Joram, Denis; Lozachmeur, Jean-Marie; Malavoltl, Estelle |
| Abstract: | The concept of Corporate Social Responsibility (CSR) has evolved since Milton Friedman’s 1970 assertion that a business’s sole responsibility is profit. Today, global frame-works like the UN Global Compact and EU regulations emphasize corporate account-ability, particularly regarding social and environmental impacts. Corporate Social Responsibility (CSR) has become central in discussions of firm behavior, governance, and public goods provision. CSR however varies across firms. Some adopt basic strategic CSR (b-CSR), considering social and environmental issues only to the extent that they affect consumer demand and profitability. Others practice environmentally committed CSR (e-CSR), internalizing the full social cost of emissions. A few pursue fully committed CSR (w-CSR), aiming to maximize overall social welfare. The paper analyzes CSR’s effects on firm behavior through economic modeling. It first examines a single firm producing CO2 emissions, where reducing emissions increases costs but appeals to environmentally conscious consumers. Three firm types — b-CSR, e-CSR, and w-CSR — are considered. The study then extends to a competitive market with two firms engaged in Cournot competition. It examines scenarios where firms have different CSR commitments, analyzing how competition, emissions, and profits are affected. Finally, the paper compares these outcomes to an ideal scenario where firms are regulated to maximize social welfare. |
| Keywords: | Motivation and sustainability of CSR under competition; mission oriented firms |
| JEL: | H23 L13 G50 |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20380 |
| By: | Vosooghi, Sareh; Arvaniti, Maria; van der Ploeg, Frederick |
| Abstract: | We study the formation of international climate coalitions with sophisticated policy makers. They strategically predict the consequences of their membership decisions in climate negotiations and use an integrated assessment model of the economy and the climate in their decision making. We analytically characterise the equilibrium number of coalitions and their number of signatories with certain types of heterogeneity. The special structure of our model drastically reduces the computational complexity of coalition formation with heterogeneous countries. We also investigate numerically possible coalition outcomes for a calibrated model with an exhaustible and inexhaustible energy sector. In contrast to earlier approaches to coalition formation based on internal and external stability, much larger coalitions can be sustained in equilibrium alongside smaller ones. Sophisticated policy makers thus give rise to more mitigation of global warming. |
| JEL: | C72 Q43 Q54 D70 D58 E27 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20407 |
| By: | Oehmke, Martin; Opp, Marcus |
| Abstract: | We study bank capital requirements as a tool to address climate-related financial risks and evaluate whether a prudential mandate for bank regulators remains appropriate in the presence of carbon externalities. We show that a prudential mandate maximizes welfare if carbon taxes are set optimally and fully characterize optimal capital requirements under such a mandate. Optimal transition-risk adjustments can crowd out clean lending. When carbon pricing is insufficient, using capital requirements to address externalities can require sacrificing financial stability or prove altogether ineffective. Capital requirements can play an indirect role by mitigating stranded asset risk, thereby making future carbon taxes credible. |
| JEL: | G21 G28 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20437 |
| By: | Burgess, Robin (Department of Economics, LSE); Greenstone, Michael (Department of Economics, University of Chicago); Ryan, Nicholas (Department of Economics, Yale University); Sudarshan, Anant (Department of Economics, University of Warwick) |
| Abstract: | Off-grid solar promises a low-cost and carbon-free path to electrification. But will poor households choose off-grid power? We run a multi-year pricing experiment in rural India to estimate demand over all electricity sources, including off-grid solar, diesel generators, and both formal and informal connections to the grid. We find that off grid solar is an important stop-gap, but households value grid electrification five times more. The grid, however, decreases global surplus, both because household payments do not cover the cost of supply, in an environment with high informality, and because grid connections increase carbon damages. We apply our model to data from Africa and find a similarly strong preference for the grid among households there, underscoring the external validity of our results. |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:cge:wacage:814 |
| By: | Walsh, Christoph; Zhang, Jiekai |
| Abstract: | We develop a structural model of demand and pricing of vehicles which incorporates the heterogeneous effects of advertising. We estimate the model using rich data on sales and advertising at the age-group and product level from 2012-2021 in France. We disentangle the positive spillover effects of advertising from its business-stealing effects and find that advertising has a positive effect on vehicle sales and reduces consumers' price sensitivity. Our counterfactual simulations show that an outright ban on advertising does not lead to positive environmental effects. Instead, targeted advertising bans on high-emission and high-weight vehicles are more effective at reducing emissions. |
| Keywords: | Advertising; Vehicles |
| JEL: | L13 L51 Q51 M37 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20393 |
| By: | Arteaga-Garavito, María José; Colacito, Ric; Croce, Mariano; Yang, Biao |
| Abstract: | We develop novel high-frequency indices that measure climate attention across a wide range of developed and emerging economies. By analyzing the text of over 23 million Tweets published by leading national newspapers, we find that a country experiencing more severe climate news shocks tends to see both an inflow of capital and an appreciation of its currency. In addition, brown stocks experience large and persistent negative returns after a global climate news shock if located in highly exposed countries. A risk-sharing model in which investors price climate news shocks and trade consumption and investment goods in global markets rationalizes these findings. |
| Keywords: | Trade; Currencies |
| JEL: | F3 F4 G1 |
| Date: | 2025–09 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20607 |
| By: | Garel, Alexandre; Romec, Arthur; Sautner, Zacharias; Wagner, Alexander F. |
| Abstract: | We construct firm-level measures of dependence on ecosystem services (NatureDep scores) for 31, 778 listed firms in 117 countries between 2010 and 2023, combining the ENCORE database with firm-level revenue information. NatureDep scores positively correlate with impact on biodiversity, are unrelated to nature-related actions disclosed in the CDP survey, and are not reflected in firms’ corporate disclosures. We employ the measures in three applications. First, NatureDep scores predict BlackRock’s biodiversity-related engagements, indicating perceived financial materiality. Second, the scores are positively associated with measures of downside risk, with effects stemming mostly from high dependencies to water-related ecosystem services. Third, the scores predict nature-related ESG incidents that arise when high nature dependence leads firms to damage nature, overuse resources, or trigger disputes with local communities. Overall, we conclude that investors started to pay attention to nature dependence, while corporate action and disclosure remain limited. |
| JEL: | G12 G30 Q57 |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20384 |
| By: | Känzig, Diego; Konradt, Maximilian; Wang, Lixing; Zhang, Donghai |
| Abstract: | This paper examines the relationship between green innovation and the business cycle, revealing that while non-green innovation is procyclical, green innovation is countercyclical. This pattern holds unconditionally over the business cycle and conditional on economic shocks. Motivated by these findings, we develop a business cycle model with endogenous green and non-green innovation to explain their distinct cyclical behavior. The key mechanism operates through a ‘green is in the future’ channel: green patents are expected to generate higher profits in the future, making green patenting less sensitive to short-term economic fluctuations. In general equilibrium, this channel is reinforced, making green and non-green innovation effective substitutes. We provide direct evidence supporting the model mechanism using data on market-implied values of green and non-green patents. |
| Keywords: | Green innovation |
| JEL: | E32 O31 Q55 Q58 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20475 |
| By: | Ambec, Stefan; Crampes, Claude; Lamp, Stefan |
| Abstract: | The energy transition requires significant investment in intermittent renewable energy sources, such as solar and wind power. New generation capacities are generally procured through fixed price contracts, such as power purchase agreements and contracts for difference, or feed-in tariffs. With these designs, renewable technologies are selected based on their generation, regardless of their adequacy with demand and supply by other technologies. We show that fixed-price contracts implement the optimal portfolio of renewable technologies if the price is adjusted with a technology-specific bonus-malus system that depends on the correlation between renewable energy production and the wholesale electricity price. We estimate the bonus-malus for solar and wind power in California, France, Germany, and Spain and decompose it to identify the key market factors driving the adjustment. We argue that the bonus-malus measures the cost of integrating intermittent generation into the energy mix. Therefore, it should be added to the levelized cost of energy (LCOE) to obtain the cost of generating an additional megawatt-hour with a specific renewable technology. |
| Keywords: | Electricity market |
| JEL: | D47 L23 Q41 Q48 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20429 |
| By: | Khondaker Golam Moazzem; Helen Mashiyat Preoty; Abrar Ahammed Bhuiyan; Mehadi Hasan Shamim |
| Abstract: | Bangladesh has embarked on an ambitious journey to expand renewable energy through the National Rooftop Solar Programme 2025, which targets 3, 000 MW of capacity on government, educational, and health sector rooftops. Whilst the decision is timely and commendable, the programme’s success will depend on addressing critical challenges of design, financing, procurement, and long-term O&M. This special report by CPD Power and Energy Study offers a detailed review of global rooftop solar experiences, lessons from Dhaka’s earlier initiative, and a critical analysis of the current programme’s policy framework. |
| Keywords: | Rooftop Solar, Renewable Energy, Solar Programme, Energy Transition, Solar Policy, Transparent Procurement, Technical Quality, Programme Monitoring, Energy Financing, Bangladesh Energy, |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:pdb:report:78 |
| By: | Yan Luo (Fudan University); Shula Wu (Fudan University); Shu Tian (Asian Development Bank) |
| Abstract: | This paper examines the impact of corporate digital transformation on environmental performance and the underlying mechanisms. Utilizing textual analysis of annual reports, we develop a fourdimensional measure of digital transformation comprising technological, business, manufacturing, and operational aspects. Analyzing data from Chinese A-share listed firms between 2009 and 2022, we demonstrate that corporate digital transformation significantly enhances environmental performance. While all dimensions of digital transformation contribute positively, manufacturing digital transformation exhibits the most substantial impact, followed by operational and technological digital transformation. We identify that green innovation, strengthened environmental monitoring and communication, increased environmental information transparency, and greater external attention are pivotal mechanisms through which digital transformation affects environmental performance, with transparency emerging as the strongest factor in this context. This paper offers new insights into the role of digital transformation in advancing sustainability. |
| Keywords: | corporate digital transformation;environmental performance;textual analysis;nnovation;transparency |
| JEL: | D22 O33 Q56 |
| Date: | 2026–06–29 |
| URL: | https://d.repec.org/n?u=RePEc:ris:adbewp:023024 |
| By: | Holmes, Brandon; Robertson, Molly (Resources for the Future); Rennert, Kevin (Resources for the Future); Benes, Keith J.; Baillargeon, Natalie; Katz, Juniper; Nilson, Robi; Hoen, Ben |
| Abstract: | This working paper presents findings from an effort to reconstruct public development timelines for large wind and solar projects in Texas, a state with a significant renewable energy portfolio. We assembled a dataset of project milestones for 32 wind projects and 44 solar projects between 2018 and 2025 across 58 counties, using public records from county commissioners’ courts, school districts, Texas Comptroller files, developer announcements, and other project-specific sources. Our analysis finds that Texas’s renewable energy development often proceeds quickly when compared with projects on federal land and many state-level permitting processes. The median observable development timeline in the sample is roughly 3.5 years, and approval timelines for local tax incentive programs average about 6.5 months for solar projects and 7.5 months for wind projects. However, timelines vary widely with much of this variation occurring before construction, when developers assemble land, negotiate tax and road agreements, secure offtake contracts, procure equipment, and complete grid or federal reviews. These findings highlight the obstacles of drawing uniform conclusions about the success and speed of Texas’s development model, and the need for better project-level data to compare complex renewable energy development timelines across jurisdictions. |
| Date: | 2026–07–21 |
| URL: | https://d.repec.org/n?u=RePEc:rff:dpaper:dp-26-11 |
| By: | Antonin Pottier (EHESS); Emmanuel Combet (ADEME); Simona de Lauretis (EDF Ð CIRED) |
| Abstract: | This paper discusses the differential contributions of men and women to consumption- based emissions. The effect of gender on GHG emissions is difficult to assess because it correlates with other determinants, such as income and the size and composition of household that people are part of. We review the scant evidence available in the literature, with equivocal results. Using consumption-based emissions of French households, we show that pooling households of different size and composition cannot provide reliable estimates of the effect of gender of the head of household on emissions. Our empirical strategy therefore focuses on one-person households. With multi-variate regressions, we find that, other things being equal, there is no significant difference between single men and women, provided they are younger than 80. Women over 80 years old emit less than their male counterparts, a difference which can be traced back to their very low usage of car. |
| Keywords: | inequality, GHG emissions, carbon footprint, gender, households, income and expenditure survey |
| JEL: | D12 D14 D30 D31 J16 Q56 R20 |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:fae:wpaper:2025.09 |
| By: | Bigio, Saki; Känzig, Diego; Sánchez, Pablo; Walsh, Conor |
| Abstract: | Despite broad acceptance among economists, carbon taxes face persistent public resistance. We measure the sources and distribution of welfare losses from unexpected European carbon price changes by estimating their impact on consumer prices, labor income, financial wealth, and government transfers. A 1% carbon-policy-induced increase in energy prices leads to an average welfare loss of about 0.5% of a household’s three-year consumption, primarily driven by indirect labor-income effects. Younger, poorer, and less educated households, especially in Southern and Eastern Europe, bear a disproportionate burden. These findings suggest public opposition to carbon taxes could stem from legitimate distributional concerns. |
| Keywords: | Carbon pricing |
| JEL: | D31 H23 Q58 |
| Date: | 2025–08 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20545 |
| By: | Felix Bierbrauer; Mattias Polborn; Marten Ritterrath; Georg Weizsäcker |
| Abstract: | We study the political economy of carbon taxes when neoclassical consumers take all other agents' emissions as given and socially responsible consumers internalize damages in a group-rule-utilitarian way, taking neoclassical consumers' behavior as given. We characterize political equilibrium taxes with a focus on deviations from first-best Pigouvian taxation. Welfare falls further if arguments on moral obligations to reduce carbon footprints polarize the debate in society. Finally, we present survey evidence that supports our theory: social responsibility correlates with lower consumption of brown goods, higher preferred carbon taxes, and support for moral arguments. |
| Keywords: | political economy of taxation, carbon taxes, ethical behavior |
| JEL: | C9 D11 D72 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12758 |
| By: | Graziano, Marcello; Michieka, Nyakundi; Musso, Marta; Fouquet, Roger |
| Abstract: | This study examines the influence of renewable portfolio standards (RPS) on coal industry employment and wages in the top 10 U.S. coal-producing states from 2001 to 2018, with a specific focus on the 2003–2009 RPS adoption period. Employing a difference-in-differences methodology and utilizing data encompassing employment, gas prices, and RPS-related MWh at the quarterly level, our findings reveal that RPS had only temporary and minor adverse effects on coal employment. These effects manifested with a delay of up to four quarters but dissipated within two years. Moreover, RPS had no significant impact on state’s coal sector wages. |
| Keywords: | coal;energy transition;labor markets;renewable energy;renewable portfolio standards;wages |
| JEL: | R14 J01 N0 |
| Date: | 2024–12–01 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:139019 |
| By: | Gazzè, Ludovica; Gupta, Tanu; Huang, Allen; Londono, Valentina; Saavedra, Santiago; Toma, Mattie |
| Abstract: | There is limited evidence on the non-health impacts of air pollution, including productivity in the workplace and behavior. We examine the effect of air pollution on participation, collaboration, and feedback provision in a workplace setting. Our experiment randomly assigns air purifiers to rooms at three large academic conferences to investigate the causal impact of air pollution on participants' engagement behavior. We construct a participant engagement index based on 12 presentation-level behavioral outcomes directly measured by conference observers through an online form and weigh each behavioral outcome using weights elicited from an expert survey. Conference rooms treated with air purifiers exhibit 48% less PM2.5 concentration compared to control rooms. However, we do not find a statistically significant change in engagement. Communication in the workplace might not be a large driver of the empirical relationship between air quality and productivity, albeit more research is needed across workplaces and measures of communication. |
| Keywords: | Engagement; Field experiment |
| JEL: | Q53 J24 |
| Date: | 2025–09 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20676 |
| By: | Jiao, Peiran; Koedijk, Kees; Xu, Yilong |
| Abstract: | Sustainability preferences are often measured at the individual level. However, it is unclear whether individual sustainability preferences can manifest in a competitive asset market setting. To address this, we conduct a series of experiments, measuring sustainability preferences at both thei ndividual and market levels. In our market experiments, participants could accept lower payoffs for assets that yield positive externalities (green) compared to those with neutral (gray) or negative (brown) externalities. We observe a robust aversion to brown assets leading to significant underpricing (a “brown discount†), but find little evidence of a green premium. When we eliminate speculative motives, green assets’ prices are even closer to the fundamental value, suggesting that any observed green premium is likely driven by speculation but not sustainability preferences. Only incentivized measures of individual sustainability preferences, rather than stated preferences, significantly correlate with participants’ market behavior. |
| Keywords: | Sustainability preference; Experimental asset markets; Green premium; Brown discount; Impact investment |
| JEL: | C92 D81 G12 G14 |
| Date: | 2025–09 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20646 |
| By: | Gu, Wenhao; Xu, Chenguang; Chao, Zenghui; Zhang, Jun |
| Abstract: | This paper investigates how natural conditions affect agricultural unmanned aerial vehicle (UAV) purchase intensity and model choice in China. Using administrative subsidy transaction records, county-level weather and terrain data, city-level economic controls, and county socioeconomic characteristics, the paper combines two empirical approaches. First, a zero-truncated Poisson model with correlated random effects estimates county-year purchase counts. Results show that terrain and precipitation exhibit nonlinear associations with purchase intensity, low temperatures are negatively associated, and net price is negatively associated. Second, a conditional logit model examines top-20 model choice among family farms and individual buyers. Subsidies significantly influence model choice, but this effect varies with local conditions: precipitation weakens the subsidy effect, whereas wind and high temperatures strengthen it. Policy simulations predict changes in model shares under no-subsidy, uniform subsidy increase, and condition-targeted scenarios relative to baseline. The findings imply that UAV subsidy design should account for geographic heterogeneity. Furthermore, product-choice models that exclude non-purchasers should be interpreted as capturing reallocations among existing models rather than changes in total adoption. |
| Keywords: | Crop Production/Industries, Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404307 |
| By: | Baris Tercioglu; Stephane Hallegatte; Charl Jooste; Florent McIsaac |
| Abstract: | Climate shocks create a difficult policy problem: an intervention that protects growth can also strain public finances, and these trade-offs are magnified by uncertainty about both the shocks themselves and the macroeconomic model used to assess them. In this paper, a methodology to explore these issues is presented and applied to the management of coastal flood risks in the Maldives. The analysis uses a version of the World Bank MFMod macrostructural model that includes stochastic damages from coastal flood and model uncertainty. It evaluates two policy options (prevention and preparedness) using three metrics: expected GDP losses, the probability that debt exceeds a sustainability threshold, and the probability of a sharp deterioration in the debt ratio. Results show that climate risks are macro-critical in the Maldives and that individual policies create synergies and trade-offs. Investments in prevention are win-win, with gains in GDP enhancing debt sustainability, but only up to a certain level. Beyond a threshold, there is a trade-off between growth and debt sustainability as debt-financed prevention investments worsen debt vulnerabilities in spite of the GDP gains they generate. Preparedness alone (through contingency funds or other instruments) improves fiscal resilience, especially in context of large tail risks. Policy mixes mitigate trade-offs and preparedness and prevention are complement: preparedness enables larger prevention investments without magnifying debt vulnerability, leading to larger GDP gains. Introducing model uncertainty widens the distribution of possible outcomes but does not affect key policy conclusions. The main policy message is that robust climate macrofiscal planning should move beyond expected values and focus on policy mixes that combine prevention and preparedness to manage growth and debt sustainability across a wide range of plausible futures. |
| Keywords: | economic growth, debt sustainability, risk management, climate change, uncertainty, macroeconomic modeling |
| JEL: | E6 H6 C6 Q5 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12826 |
| By: | Minh Ha-Duong (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 - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique - ENPC - École nationale des ponts et chaussées - IP Paris - Institut Polytechnique de Paris, ECOSYS - Ecologie fonctionnelle et écotoxicologie des agroécosystèmes - AgroParisTech - Université Paris-Saclay - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | This data paper presents a curated, multilingual corpus of 31, 713 works on climate finance published between 1990 and 2024. The dataset is assembled from 6 complementary sources that combine academic databases, institutional repositories, and grey literature, enabling broader coverage than single-source bibliometric studies. A multilingual retrieval strategy based on an eight-language keyword taxonomy is used to capture relevant works across linguistic contexts, while a reproducible pipeline integrates deduplication, metadata harmonisation, and quality filtering. The resulting corpus includes a citation network derived from Crossref and OpenAlex, as well as pre-computed multilingual embeddings to support cross-lingual analysis. |
| Keywords: | history of economic thought, scientometrics, sentence-transformer embeddings, multilingual, bibliometric corpus, climate finance |
| Date: | 2026–03–26 |
| URL: | https://d.repec.org/n?u=RePEc:hal:ciredw:hal-05570600 |
| By: | Imke Rhoden; Jae-Hyuck Lee |
| Abstract: | The coal phase-out's regional economic impact is a key challenge of the energy transition, as employment and fiscal dependence in coal regions face structural adjustment without automatic market solutions. Analyzing European Union NUTS 2 regions from 2000-2022 with fixed effects and clustered errors, coal regions show a consistent 1.1 percentage points unemployment premium and grow faster in gross domestic product per capita at 0.2 percentage points annually, indicating a hollowing-out process where population exit raises per-capita output while employment conditions worsen. Spatial analysis shows strong geographic clustering, supporting coordinated local and sectoral targeted transition policies. South Korea's rapid phase-out, with Chungnam as a major coal-power region, underscores the need for proactive national support to enable concrete regional action before plants shut down. |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2607.09589 |
| By: | Praveen Kumar Ashok Kumar; Rafa{\l} Sieradzki |
| Abstract: | This paper investigates the Aggregate Confusion hypothesis (Berg, Kolbel, and Rigobon, 2022) at the firm level by measuring the Disclosure-Performance Gap (DPG), the standardised divergence between a firm's voluntary environmental disclosure ("Talk") and its realised emissions performance ("Walk"). The sample comprises 200 large European firms from the Energy, Materials, Industrials, and Utilities sectors of the STOXX Europe 600 in fiscal year 2023, the final cross-section of the voluntary reporting era before the Corporate Sustainability Reporting Directive. The model is selected through a six-stage process, candidate assembly, correlation screening, VIF based multicollinearity filtering, stepwise forward search under the corrected Akaike Information Criterion, Cook's distance screening, and HC3 re-estimation across 421 candidate specifications, estimated by ordinary least squares with HC3 robust standard errors on the full sample. Flagship index membership is the strongest predictor of a wider gap ($\beta$ = +0.78, p |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2606.31469 |
| By: | Kwok, Tsz Chun; Spiro, Daniel; van Benthem, Arthur |
| Abstract: | We provide a theoretical micro foundation for how much pollution (negative externalities) a firm will internalize based on the ownership distribution of its shareholders. Small shareholders, compared to large ones, want the firm to spend more on avoiding pollution since they suffer less profit loss for the same environmental benefit. In particular, if a shareholder holds a share of 1/N, where N is the population in society, that shareholder's preferences align with a social planner's. Three theoretical predictions arise. First, small shareholders will systematically vote for a greener corporate profile. Second, firms with a smaller weighted median shareholder will pollute less. Third, countries with concentrated corporate wealth holdings and/or more individualized firm ownership pollute more. This implies that standard models of externalities in environmental economics and macroeconomics containing representative agents are either internally inconsistent or not fully specified. |
| JEL: | Q50 Q52 G32 |
| Date: | 2025–08 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20595 |
| By: | Rodríguez-Pose, Andrés; You, Zhuoying; Teirlinck, Peter |
| Abstract: | This paper explores the relationship between support for extreme political parties and research and innovation across regions in the European Union (EU). Extreme parties often exhibit deep scepticism towards expertise and science, with extreme right-wing parties, in particular, challenging the legitimacy of climate change; an attitude that may weaken green research and innovation. We draw on data from 1, 137 EU regions — including scientific publication and patent records — and apply Tobit regression models to find that stronger support for extreme parties is associated with lower levels of scientific research and technological innovation, both overall and in their green forms. While this pattern is visible across the political spectrum, important differences emerge. Support for extreme right-wing parties is consistently tied to reduced research output and innovation performance, particularly in green technological sectors. By contrast, the relationship with extreme left-wing support is more variable, depending on the degree of radicalism, and shows no consistent negative connection with green innovation. |
| Keywords: | Europe |
| JEL: | D72 D74 O32 O33 R10 |
| Date: | 2025–08 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20598 |
| By: | Dadson, Yvonne Appiah; Amankwah, Nana barima |
| Abstract: | On June 3, 2015, Ghana experienced a catastrophic twin disaster when torrential rains exceeding 150 millimeters caused severe flooding across Accra, followed by an explosion at a GOIL (Ghana Oil Company) petrol station that claimed between 150 and 250 lives. This study employs systematic content analysis of 42 verified sources spanning 2015–2025 to examine how stakeholders framed disaster causation, attributed responsibility, and constructed narratives about urban vulnerability. Eight major themes emerged: infrastructure inadequacy appearing in 89 % of sources, blame attribution conflicts in 82 %, emergency response challenges in 76 %, urban vulnerability stigmatization in 71 %, climate change marginalization in only 34 %, policy implementation gaps in 68 %, community resilience recognition in 45 %, and institutional coordination failures in 63 %. Academic discourse evolved toward sophisticated structural analysis emphasizing vulnerability production processes, while government discourse remained focused on behavioral factors. May 2025 flooding killed four people, one in Abokobi and three in Adenta, displacing 3, 000 exactly ten years after 2015, demonstrating that stated policy commitments failed to translate into improved outcomes. The National Disaster Management Organisation (NADMO) admitted inadequate relief resources, contradicting a decade of capacity-building commitments. Recent research found 52 % of households blame weak enforcement with no rainfall correlation, while other studies found 59 % of flooded zones are deprived communities with formal models systematically underestimating vulnerability. Implementation gaps reflect weak accountability mechanisms, limited institutional capacity, political incentive structures favoring short-term projects, and insufficient civil society monitoring. Emerging partnerships including I-DIEM emphasizing equity-centered approaches and FAO promoting community-based response represent potential transformation directions, though effectiveness depends on sustained commitment and genuine institutional change. Keywords: disaster management, content analysis, urban flooding, Ghana, emergency response, urban vulnerability, institutional accountability |
| Date: | 2026–07–03 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:b27ny_v1 |
| By: | Yassine kirat (Laboratoier d'Economie d'Orleans (LEO) & Labex VOLTAIRE) |
| Abstract: | This paper analyzes the impacts of both natural-resource abundance and natural-resource volatility on economic growth. We apply the panel smooth transition regression (PSTR) approach of Gonzales et al. (2005), which is more flexible than the standard fixed-effects model, to data on 87 countries over the 1989-2015 period. Our results suggest that: (i) greater natural-resource abundance significantly raises economic growth, contrary to the resource-curse paradox; (ii) the impact of natural-resource abundance, investment and human capital on GDP growth rate per capita is non-linear, and varies by the level of natural-resource abundance volatility; and (iii) the subsequent GDP growth loss may reach 17 percentage points per year for countries with the highest natural-resource abundance volatility, compared to those with the lowest natural-resource abundance volatility. Volatility in natural-resource revenues and poor governmental responses then seem to drive the resource-curse paradox, instead of natural-resource abundance as such. |
| Keywords: | Growth, resource curse, natural resources volatility, PSTR, , , , |
| JEL: | C23 F43 Q32 O13 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:fae:wpaper:2024.07 |
| By: | Gjerde, Snorre; Sautner, Zacharias; Wagner, Alexander F.; Wegerich, Alexis |
| Abstract: | We survey companies worldwide to explore the evolving landscape of nature risks. Nearly half of all companies (48%) view nature risks as financially material, and 43% of those perceive nature-related physical risks, and 27% transition risks, as having financial effects already today. In line with these materiality perceptions, three-quarters of companies experiencing nature-related investor engagement view these interactions as value-generating. Nonetheless, according to the respondents, investor attention remains limited in key respects: while 40% report that investors consider nature risks, fewer than 25% believe investors assess how these risks affect cashflows or costs of capital. Half of the respondents believe investors will prioritize climate over nature; however, many think both topics are so intertwined that they cannot be separated. Our findings underscore the growing recognition of nature risks as financially relevant, while also pointing to challenges and opportunities for their integration into financial analysis and investor engagement. |
| JEL: | G12 G30 Q57 |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20385 |
| By: | Viet Nguyen-Tien |
| Abstract: | We study the effect of input uncertainty about critical minerals on firm performance, separating the second-moment risk channel from first-moment mineral sentiment and from general firm-level uncertainty. Using earnings-call transcripts matched to financial data for more than 14, 000 publicly listed firms in 92 countries (2010-2022), we construct text-based measures of perceived critical-mineral risk. Higher perceived risk is robustly associated with lower revenue growth among downstream non-mining firms, consistent with risk-averse firms contracting output under input uncertainty. A one-standard-deviation increase in mineral risk is associated with 0.71 percentage points lower revenue growth for the average non-mining firm, rising to roughly 1.9 percentage points for smaller firms, and is concentrated in thinly traded minerals (lithium, cobalt, rare earths) rather than deeply traded ones (copper, nickel). Firms discuss hedging an stockpiling in response to price volatility rather than price levels, revealing the risk aversion that underlies the output contraction. These findings highlight a new uncertainty channel in the green transition relevant to strategic stockpiling and price transparency. |
| Keywords: | critical minerals, green transition, risk, exposure, sentiment, stockpiling, hedging |
| Date: | 2026–07–02 |
| URL: | https://d.repec.org/n?u=RePEc:cep:cepdps:dp2197 |
| By: | Arezki, Rabah; van der Ploeg, Frederick; Rota-Graziosi, Grégoire; Dao Le, Van |
| Abstract: | The introduction of the Value Added Tax (VAT) has been widely perceived as a successful instrument, boosting government revenue and stimulating industrialization. However, in countries that are heavily dependent on exports of natural resources the introduction of the VAT has led on average to lower tax revenues and did not stimulate industrialization. The VAT thus did not help these countries to diversify away from the natural resource sector contrary to its promise. This suggests that the VAT in those countries has failed and should be redesigned. The results indicate a novel channel for the resource curse hinging on the interaction between economic structure and the design of tax systems. |
| Keywords: | Natural resource |
| JEL: | H25 O13 O14 |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20346 |
| By: | Katarina Radišić (AIRSEA - Mathematics and computing applied to oceanic and atmospheric flows - Centre Inria de l'Université Grenoble Alpes - Inria - Institut National de Recherche en Informatique et en Automatique - UGA - Université Grenoble Alpes - LJK - Laboratoire Jean Kuntzmann - Inria - Institut National de Recherche en Informatique et en Automatique - CNRS - Centre National de la Recherche Scientifique - UGA - Université Grenoble Alpes - Grenoble INP - Institut polytechnique de Grenoble - Grenoble Institute of Technology - UGA - Université Grenoble Alpes - Grenoble INP - Institut polytechnique de Grenoble - Grenoble Institute of Technology - UGA - Université Grenoble Alpes, RiverLy - RiverLy - Fonctionnement des hydrosystèmes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Claire Lauvernet (RiverLy - RiverLy - Fonctionnement des hydrosystèmes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Arthur Vidard (AIRSEA - Mathematics and computing applied to oceanic and atmospheric flows - Centre Inria de l'Université Grenoble Alpes - Inria - Institut National de Recherche en Informatique et en Automatique - UGA - Université Grenoble Alpes - LJK - Laboratoire Jean Kuntzmann - Inria - Institut National de Recherche en Informatique et en Automatique - CNRS - Centre National de la Recherche Scientifique - UGA - Université Grenoble Alpes - Grenoble INP - Institut polytechnique de Grenoble - Grenoble Institute of Technology - UGA - Université Grenoble Alpes - Grenoble INP - Institut polytechnique de Grenoble - Grenoble Institute of Technology - UGA - Université Grenoble Alpes) |
| Abstract: | Traditional calibration methods in hydrological models result in parameter values that can compensate for aleatory uncertainties in model forcings (such as rainfall, temperature, evapotranspiration, or pesticide application dates). Ignoring aleatory uncertainty can lead to subsequent model simulations being less reliable for taking operational decisions or predicting hazardous events (e.g., peaks of water pollution or floods). Robust calibration can better handle these uncertainties, but usually requires extensive model simulations, making it impractical for physically based environmental models. To overcome these issues, we use a new metamodeling approach using stochastic emulation. This method is non-intrusive, meaning it does not need a predefined structure for the forcing space. Once validated, the stochastic emulator is used to evaluate different robust estimators at low cost, allowing for the selection of the most suitable one for the specific problem. We demonstrate this approach using the PESHMELBA hydrological model for pesticide transfer. We construct and validate the stochastic emulator, and compare robust estimators to traditional calibration. Results show that robust calibration enhances the model's reliability under rainfall uncertainty. This methodology can be applied to any model and forcing uncertainty, making it relevant for other applications in complex technological systems, or environmental models where aleatory uncertainties are inherent. |
| Keywords: | Hydrology, Forcing error, Polynomial chaos expansion, Aleatory uncertainty, Stochastic metamodel, Robust calibration |
| Date: | 2026–11 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05678649 |
| By: | Fabra, Natalia; Llobet, Gerard |
| Abstract: | This paper examines the limitations of spot markets in providing adequate investment incentives to support zero-carbon investments in electricity markets. In contrast, properly designed long-term contracts have the potential to mitigate price volatility and facilitate the funding of the investments. A theoretical model is developed to analyze contract design under conditions of moral hazard and adverse selection, emphasizing the trade-offs that arise when exposing firms to price and quantity risk. The findings inform optimal contract design for nuclear and renewable energy projects, offering policy recommendations to enhance investment incentives while minimizing productive inefficiencies and excessive rents. |
| JEL: | L13 L94 |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20328 |
| By: | Klaus M. Frahm; Dima L. Shepelyansky |
| Abstract: | Based on public data, we analyze the distributions of energy and carbon emission over world countries on a scale of the last 40-50 years using their presentation via Lorenz and Pareto curves. These curves in rescaled format remain remarkably stable on this time period being characterized by high values of the Gini coefficient indicating a strong inequality of energy distribution. To explain these distributions, we introduce the ENergy Thermalization Hypothesis (ENTH) according to which these distributions result from the Rayleigh-Jeans (RJ) thermalization and condensation of agents representing different countries. We show that this hypothesis provides an excellent description of Lorenz and Pareto curves obtained from data on the above time period. It also gives natural grounds for inequality relating it to the RJ condensation at low energy states. We additionally trace parallels with the wealth inequality in the world. |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2607.07315 |
| By: | Schneider, Eric |
| Abstract: | There is strong evidence that exposure to atmospheric pollution is detrimental to health. However, most current and historical research has focussed on the short-run consequences of exposure to pollution on health, and historical researchers have not been able to assess the effects of pollution on a wide range of health indicators. This paper uses fog events at a daily level as a proxy for acute extreme pollution events in historical London (1892-1919). It tests whether exposure to fog at birth and at the time of sickness influenced a wide range of indicators of child health in the short and long term, including birth outcomes (birth weight, length, stillbirth, premature birth and neonatal death), mortality risk (mortality before age 15), growth outcomes (heights and weights in infancy, childhood and adolescence), and morbidity outcomes (incidence, prevalence and sickness duration from respiratory diseases and measles). Being born on a fog day did not have strong effects on birth or growth outcomes or on morbidity outcomes for upper respiratory diseases. However, being born on a fog day increased mortality risk from respiratory diseases and increased incidence, prevalence and sickness duration from measles, influenza and other lower respiratory diseases. I also find short-run effects of fog on sickness duration from influenza and measles. Overall, the mixed results suggest that atmospheric pollution caused significant ill health in historical London but only for limited dimensions of health. |
| JEL: | N33 I12 Q53 |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20387 |
| By: | de Bromhead, Alan; Lyons, Ronan C.; Ohler, Johann |
| Abstract: | Poor housing conditions, and the negative effects of Household Air Pollution (HAP) in particular, remain one of the most pressing global public health challenges. While the association between poor housing and health has a long history, evidence of a direct link is lacking. In this paper, we examine a rare example of a public housing intervention in rural areas, namely the large-scale provision of high-quality housing in Ireland in the late 19th and early 20th centuries. We exploit a novel dataset of deaths-by-disease and deaths-by-age-and-sex over the period 1871–1919, to test the impact of the intervention on mortality. Our difference-in difference estimates indicate that improved housing conditions reduced mortality by as much as 1 death per 1000. This effect is driven by reductions in deaths from respiratory diseases. We propose a likely mechanism that is consistent with the pattern of results we observe: a reduction in Household Air Pollution through improved housing quality and better ventilation. A cost-benefit analysis reveals that the scheme was a highly cost-effective intervention. |
| Keywords: | Ireland |
| JEL: | N33 N93 Q53 O18 I14 J10 |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20725 |
| By: | Fritz Theden-Schow (Department of Food and Resource Economics, University of Copenhagen); Max Nielsen (Department of Food and Resource Economics, University of Copenhagen); Sigbjørn Tveteraas (Department of Safety, Economics, and Planning, University of Stavanger); Brian H. Jacobsen (Department of Food and Resource Economics, University of Copenhagen); Joshua Cabell (Norwegian Centre for Organic Agriculture (NORSØK)); Rasmus Nielsen (Department of Food and Resource Economics, University of Copenhagen) |
| Abstract: | Worldwide, fisheries and related industries produce large quantities of marine residues, such as fish cutoffs, heads and backbones, often ending up as waste or only extracting the fish oil and soluble protein via hydrolysis, leaving sediment of bone particles, etc. unused. However, research and practice show that these residues can be applied as fertilizers with an immediate effect on plant growth. If production of fertilizers is economically viable, utilization of marine residues can be improved and simultaneously meet a demand for fertilizers in certified organic farming. This paper analyzes economic viability of producing marine-based organic fertilizers in Norway and Denmark. From interviews with fertilizer producers, the willingness to pay for one kilogram of an acid preserved bone material of captured white fish, made from minced heads, backbones, skin, organs etc., appearing as a residue product when extracting fish oil and soluble proteins during hydrolysis, was identified. With an average N-content of 4.2%, a positive willingness to pay was identified, between 0.078 and 0.272 €/kg, dependent on market conditions. With the positive willingness to pay, it may be economically viable to apply the material to produce marine-based organic fertilizers, revealing a potential for further exploitation of the by-products from captured white fish for fertilizers in certified organic farming. |
| Keywords: | Marine residue, White fish marine residues, Willingness to pay, Economic viability |
| JEL: | Q16 Q22 |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:foi:wpaper:2026_02 |
| By: | Jevan Cherniwchan; Juan Moreno-Cruz |
| Abstract: | We study the long-run effects of England’s transition from wood to coal. We develop a Malthusian model in which energy transitions arise endogenously from population growth and alter population dynamics. We derive an estimating equation from our model and take it to county population data spanning 1086 to 1750, exploiting variation in the appropriability of coal created by the Dissolution of the Monasteries to address the endogeneity of when and where transitions occur. Our estimates confirm our model’s predictions: population dynamics change starkly because of the transition, raising the population density of affected counties by roughly 28% by 1750. |
| Keywords: | Energy Transition; Coal; England; Malthus; Growth |
| JEL: | N53 O13 Q32 |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:mcm:deptwp:2026-04 |
| By: | Jevan Cherniwchan; Juan Moreno-Cruz |
| Abstract: | We study the long-run effects of England's transition from wood to coal. We develop a Malthusian model in which energy transitions arise endogenously from population growth and alter population dynamics. We derive an estimating equation from our model and take it to county population data spanning 1086 to 1750, exploiting variation in the appropriability of coal created by the Dissolution of the Monasteries to address the endogeneity of when and where transitions occur. Our estimates confirm our model's predictions: population dynamics change starkly because of the transition, raising the population density of affected counties by roughly 28% by 1750. |
| Keywords: | energy transition, coal, england, malthus, growth |
| JEL: | N53 O13 Q32 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12766 |
| By: | Pascale Combes Motel (Laboratoire d'Economie d'Orléans, University Clermont Auvergne); Aimé Okoko (Laboratoire d'Economie d'Orléans, University Clermont Auvergne); Sonia Schwartz (Laboratoire d'Economie d'Orléans, University Clermont Auvergne) |
| Abstract: | This study investigates the impact of the European Union Emissions Trading System (EU-ETS) on the capital structure, namely the debt ratio, of French firms from 2007 to 2018. To do this, we construct an original database linking French firms subject to the ETS to their financial variables. Using a matching method, we show that firms participating in the ETS have a higher debt ratio than non-participating ones. To consider the effect of the initial allocation of allowances, we divide our sample of treated firms according to their initial allocation quartile. We find that firms with the lowest initial allowances have the highest debt ratio. Furthermore, the ETS's effect on firms' capital structure is observed during Phase 2 (2008-2012) as opposed to Phase 3 (2013-2020) and concerns firms operating on domestic markets. The effect also differs according to the sectors selected. Our results suggest that, faced with the ETS, firms anticipated the future tightening of environmental constraints. Firms that received the fewest free-of-charge allowances complied by investing in pollution-reduction technologies relying on debt financing. Environmental policy variables, therefore, have an impact on the financial structure of firms. |
| Keywords: | EU-ETS, capital structure, initial allocation, propensity scores, entropy balancing |
| JEL: | C33 D22 G32 Q53 Q58 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:fae:wpaper:2024.05 |
| By: | Xun Li; Maryam Vaziri |
| Abstract: | This paper examines the firm-level impact of state aid in France from 2016–23 and how targeting affects economic outcomes. Using firm-level data and a difference-in-differences approach, we find that aid is most effective for young firms, improving real outcomes while also crowding in private debt financing. Size-based targeting, by contrast, has limited impact. R&D support is particularly effective for young firms in high-tech sectors, and energy aid has the strongest effects in manufacturing, pointing to its potential role in helping firms reduce emissions and facilitating the green transition. |
| Keywords: | Industrial policy; firm performance; state aid |
| Date: | 2026–06–12 |
| URL: | https://d.repec.org/n?u=RePEc:imf:imfwpa:2026/122 |
| By: | Elizabeth Frankenberg; Cecep Sumantri; Duncan Thomas |
| Abstract: | We investigate the short- and long-run impacts of unexpected mortality on psychosocial health in the context of a large-scale high-mortality natural disaster, the 2004 Indian Ocean earthquake and tsunami. The effects of the tsunami-related mortality measured at the community level are contrasted with the effects of individual-specific loss of close kin using population-representative longitudinal survey data from the Study of the Tsunami Aftermath and Recovery. In the short-run, two years post-tsunami, both community and individual-level mortality exposures are significant predictors of elevated depression and post-traumatic stress symtoms. In the longer-run, ten years post-tsunami, individual-level exposures are slightly attenuated but remain significant predictors of both psychosocial health measures; in contrast, community-level mortality predicts post-traumatic stress but not depression symptoms. Mortality is linked to smaller household sizes in the short- and long-run and to less social support in the long-run, although the latter effect differs substantially for males and females. The estimates adjust for other tsunami exposure measures and, in the individual-level analyses, we compare people living in the same community at the time of the tsunami who were exposed to the same community-level mortality rate. |
| JEL: | I1 O12 Q54 |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:35462 |
| By: | Amodio, Francesco; Benveniste, Elia; Carillo, Mario Francesco; Riudavets Barcons, Marc |
| Abstract: | This paper shows that granting migrants legal status reduces labor exploitation. We study Spain’s 2005 large-scale regularization program, which granted legal status to 600, 000 undocumented migrants. We proxy labor exploitation with hospitalizations for heat-related illnesses among working-age individuals, capturing exposure to hazardous working conditions in outdoor occupations. We implement a triple-difference design that exploits cross-provincial variation in pre-reform shares of undocumented migrants and temporal variation in extreme temperatures. Our results show that the incidence of heat-related hospitalizations during heatwaves declined significantly in provinces with greater exposure to the amnesty. Specifically, an additional day above 35◦C became 3.3 percentage points less likely to result in heat-related hospitalization in highly exposed provinces, representing a 9.4% reduction relative to the pre-reform mean. Our findings demonstrate that migrant regularization is a powerful policy for improving worker well-being and reducing their vulnerability to extreme climatic events. |
| JEL: | J46 J47 J61 Q54 I12 |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20750 |
| By: | Nassiri, Somayeh; Zarei, Ali; Roy, Souvik; Haider, Md Mostofa |
| Abstract: | Samples from various material groups including biomass ashes, biochars, natural pozzolans, and construction and demolition waste (C&DW) were evaluated as supplementary cementitious materials (SCMs) for concrete. C&DW included rock dust (baghouse fines) from asphalt plants, rock dust from aggregate quarries, recycled concrete aggregate fines, crushed concrete aggregate fines, and concrete wash pond sludge. Characterization covered chemical and physical properties. Cementitious reactivity (pozzolanic or latent hydraulic) was measured based on ASTM C1897. Materials identified as pozzolanic reactive with equivalent total alkalis >5% or equivalent available alkalis >1.5% were further assessed for alkali-silica reactivity (ASR) by ASTM C1567 using a standard mortar with highly reactive sand and 20% cement replacement by each SCM. For SCMs that mitigated ASR expansion but did not meet Caltrans’s 0.1% limit, testing was repeated at replacement levels >20% when possible. A multicriteria approach was used to choose the materials to advance to the concrete-phase evaluation. Criteria were 7-day and 28-day strength activity index (SAI) >80% or 90-day SAI >80%, calorimetry heat release >90 J/g SCM, calcium hydroxide consumption >50 g/100 g SCM, water requirement 0.40 mL air-entraining admixture demand, and ASR performance |
| Keywords: | Engineering, supplementary cementitious materials (SCM), portlandcement, biomass ash, biochar, natural pozzolan |
| Date: | 2026–04–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt8nv6s5x2 |
| By: | Nicoletta Berardi; Paul Vertier; Chloé Zapha; Elie Malhaire; Jules Tapin |
| Abstract: | This paper investigates the effects of floods on firms, combining their financial information and exact location with administrative data on floods at the municipality level between 2004 and 2024 in France. For firms located in municipalities hit by a flood, both survival rates and sales deteriorate: their chances of survival drop by 2%, and their sales by 8%, for up to five years after the event. Moreover, these firms are more likely to relocate to safer areas in other municipalities. These effects are driven by intense floods, lasting at least one week. We find evidence of both direct and indirect effects: firms in 1-in-100 years floodplain are more affected than others, but even floods occurring in neighboring municipalities decrease firms’ economic performance, with magnitudes attenuating as distance increases. |
| Keywords: | Firm Performance, Floods, Natural Disasters, Location Decision |
| JEL: | L20 Q54 G30 D22 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:bfr:banfra:1047 |
| By: | Mehmood, Sultan; Mobarak, Ahmed |
| Abstract: | State formation through secession often requires two critical steps: building mass support for independence, and engaging in violent conflict against a state resisting territorial loss. Combining satellite data with archival sources, we statistically document how exposure to the 1970 Bhola cyclone in East Pakistan which killed 350, 000 people led to a rise in separatist sentiments expressed in voting booths, and later induced citizens to take up arms against the government and engage in guerrilla warfare. We identify the cyclone as a focal point that helped galvanize dispersed separatist sentiments into an organized political movement and war, in part by revealing the Pakistan government’s indifference to Bengalis’ suffering. This important historical case identifies the specific causal channels by which a climate shock produces armed conflict (Hsiang et al., 2013). |
| Keywords: | Bangladesh |
| JEL: | Q54 N45 D74 D72 |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20760 |
| By: | Andrea Albertazzi; Elisabetta Leni; Ennio Bilancini |
| Abstract: | Non-price interventions targeting specific household water uses are increasingly central to conservation policy, but whether end-use savings translate into lower aggregate demand remains unresolved. This paper reports evidence from a pre-registered field experiment in which 775 Finnish households were randomized to a shower timer, a water-saving shower head, or the same shower head with real-time feedback. Utility-grade water meters measure household-level effects, while shower-level data provide complementary end-use evidence for the two shower-head treatments. The shower timer has no detectable effect. In contrast, the water-saving shower head reduces daily household demand by about 5%, and pairing it with real-time feedback doubles this reduction to about 10%. The convergence between shower- and meter-based estimates shows that end-use savings largely pass through to aggregate demand rather than being offset elsewhere in the home. Cost-benefit analysis indicates that combining technological constraint with salient point-of-use feedback dominates reminder-based strategies. |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2606.23347 |
| By: | Emre Akusta |
| Abstract: | Enhancing sustainable development performance requires an assessment of the relative roles of economic sectors in this process. However, comparative empirical evidence regarding the sectoral structure of sustainable development is limited, particularly for Turkiye. Therefore, this study examines the long-run relationship between sectoral structure and sustainable development in Turkiye by focusing on agriculture, industry, construction, and services. The empirical analysis uses annual data for the period 2000-2022 and proceeds in three steps. First, the stationarity properties of the variables are examined using ADF, PP, and Zivot-Andrews unit root tests. The Johansen cointegration test is then applied to determine whether a long-run equilibrium relationship exists among the variables. Finally, long-run coefficients are estimated using the DOLS estimator, while the FMOLS estimator is used as a robustness check. The findings show that all sectoral shares are positively associated with the sustainable development index in the long run. Based on the DOLS results, the services sector has the highest coefficient at 0.882, followed by the agriculture, industry, and construction sectors with coefficients of 0.302, 0.265, and 0.193, respectively. The FMOLS robustness check supports the DOLS long-run estimates. The study contributes to the literature by providing comparative sector-level evidence for Turkiye. It also highlights that sustainable development strategies should not rely on a single sector, but should be designed through balanced and sector-specific policies that account for sectoral differences. |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2607.03793 |
| By: | Edcleutson de Souza Silva (Federal University of Paraíba); André Luis Squarize Chagas (Department of Economics, University of São Paulo); Carlos Roberto Azzoni (Department of Economics, University of São Paulo); Aléssio Tony Cavalcanti de Almeida (Federal University of Paraíba); Wallace Patrick Santos de Farias Souza (Federal University of Paraíba) |
| Abstract: | Wind power deployment is often framed as a source of regional job creation, but its local economic incidence may be sectorally uneven and spatially dispersed. This paper estimates the effects of wind farm expansion on formal labor markets in North eastern Brazil from 2004 to 2019. Using an annual panel of 1, 478 municipalities and a spatial difference-in-differences design, we estimate direct effects on host municipalities and spillover effects on nearby municipalities across industry, commerce and services, and agriculture. The results indicate a pattern of sectoral reallocation rather than broad-based employment growth. Host municipalities experience large short-run gains in industrial employment and establishment counts, while agricultural employment declines, with the strongest evidence in the short run and persistent negative point estimates at longer horizons. Neighboring municipalities also exhibit negative labor market spillovers, especially in industrial wages and wage bills and in short-run agricultural employment and wage bills. Exploratory analyses suggest more negative point estimates in inland municipalities and among low-skilled agricultural workers, although these results are based on smaller effective samples. The findings show that wind farms operate not only as energy-capacity investments, but also as spatially targeted infrastructure shocks with uneven distributive effects across sectors, workers, and municipalities. They also underscore the importance of accounting for spatial spillovers when designing quasi-experimental evaluations of renewable energy infrastructure. |
| Keywords: | wind power deployment; renewable energy infrastructure; local labor markets; spatial spillovers; difference-in-differences; just transition |
| JEL: | Q42 Q43 R11 R23 J21 C23 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ris:nereus:023114 |
| By: | Martial Phélippé-Guinvarc'h (GAINS - Groupe d'Analyse des Itinéraires et des Niveaux Salariaux - UM - Le Mans Université, UM - Le Mans Université); Jean Cordier (AGROCAMPUS OUEST) |
| Abstract: | The proposed policy, referred to as "Pax Phytosa" in the document, is based on a reverse auction mechanism that allocates subsidies to farms willing to bear the economic risk associated with phasing out plant protection products. This mechanism aims to address two distinct risks borne by different actors: a transition risk borne by individual farms and a risk of failure to transition at the aggregate level. The contribution of this article lies in the way bids are designed. Bids can be expressed as a proportion of standard gross product (SGP) to account for the economic heterogeneity of agricultural systems and their respective outcomes. Using data from the Farm Accountancy Data Network (FADN), the mechanism is simulated at the national level to estimate the minimum budgetary cost required to achieve different target levels. The results show that an annual budget of approximately 400 million euros would make it possible to commit nearly 30% of France's utilitarian agricultural area or nearly 40% of the plant-based standard gross product (SGP), while revealing significant regional variation in marginal transition costs. Beyond its budgetary efficiency, this mechanism serves to reveal to public authorities the private costs incurred by farmers associated with phasing out plant protection products. These new empirical data help inform regulators about farms' adaptation trajectories. The Pax Phytosa thus emerges as an alternative to lump-sum payments and regulatory instruments, with the potential to improve the economic efficiency of pesticide reduction policies while contributing to public management based on the actual agricultural risk associated with the transition. |
| Abstract: | La politique proposée, nommée Pax Phytosa dans le document, repose sur un mécanisme d'enchère inversée permettant d'allouer une subvention aux exploitations acceptant de supporter le risque économique associé au renoncement aux produits phytosanitaires. Ce mécanisme vise à articuler deux risques distincts, portés par des acteurs différents : un risque de transition supporté par les exploitations et un risque de non-transition à l'échelle agrégée. La contribution de cet article réside dans la manière dont les offres sont conçues. Les offres peuvent être exprimées en proportion du produit brut standard (PBS), afin de tenir compte de l'hétérogénéité économique des systèmes agricoles et leurs résultats respectifs. À partir des données du Réseau d'information comptable agricole (RICA), le mécanisme est simulé à l'échelle nationale afin d'estimer le coût budgétaire minimal permettant d'atteindre différents niveaux d'objectifs. Les résultats montrent qu'un budget annuel d'environ 400 millions d'euros permettrait d'engager près de 30 % de la surface agricole utile française ou près de 40 % du PBS végétal, tout en révélant une forte dispersion régionale des coûts marginaux de transition.Au-delà de son efficacité budgétaire, ce mécanisme agit comme un dispositif de révélation aux pouvoirs publics des coûts privés des agriculteurs liés au renoncement aux phytosanitaires. Ces nouvelles données empiriques permettent d'informer le régulateur sur les trajectoires d'adaptation des exploitations. La Pax Phytosa apparaît ainsi comme une alternative aux paiements forfaitaires et aux instruments réglementaires, susceptible d'améliorer l'efficience économique des politiques de réduction des phytosanitaires tout en contribuant à une gestion publique fondée sur le risque agricole réel lié à la transition. |
| Keywords: | subsidy, information asymmetry, risks, zero-pesticide, Reverse auctions, zéro phytosanitaire, pesticides, enchères inversées, Risques, Risques enchères inversées pesticides zéro phytosanitaire asymétrie d'information subvention Reverse auctions pesticides zero-pesticide risks information asymmetry subsidy |
| Date: | 2026–06–15 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05659711 |
| By: | Ghorbani, Khashi; Atallah, Shady S.; Gallardo, R. Karina |
| Abstract: | Antibiotic resistance in plant agriculture poses a growing threat to sustainable food production. In U.S. apple orchards, fire blight disease has long been managed primarily with an antibiotic whose efficacy is eroding due to widespread resistance. Decades of antibiotic reliance have accelerated the emergence of resistant bacterial strains. Using less antibiotics, rotating between antibiotics with different modes of actions, and using non-antibiotic alternatives are three pillars of Integrated Pest Management (IPM) strategies to control fire blight while reducing the antibiotic resistance development. Previous studies show that conserving public access resources such as antibiotic efficacy can be exacerbated by neighbors’ adoption. Additionally, state and federal level regulations can be adopted to restrict farmers’ access to resources and suppress over exploitation (i.e. antibiotic resistance). Despite increasing regulatory pressure to restrict agricultural antibiotic use, little is known about how farmers respond to prospective bans or how peer behavior shapes adoption of IPM strategies. This paper fills that gap by examining U.S. apple farmers' willingness to adopt IPM practices that reduce antibiotic dependence and manage resistance, and by investigating how expectations about future regulation and neighbors' behavior affect those decisions. We develop a theoretical model of strategic antibiotic use that generates two testable predictions. First, farmers who anticipate an antibiotic ban optimally front-load antibiotic applications before restrictions become binding, depleting efficacy more rapidly than farmers operating without regulatory expectations. Second, farmers adjust their antibiotic use in response to neighbors' resistance management decisions, exhibiting either free-riding incentives or private conservation incentives. To test these predictions empirically, we design a discrete choice experiment (DCE) embedded with a randomized information treatment and administer it to commercial apple farmers across major apple-producing states in the US. The DCE elicits preferences over fire blight management bundles that vary in antibiotic rotation, biopesticide use, streptomycin application rate, short- and long-run disease control effectiveness, neighbors' resistance management adoption rates, and cost per acre. To isolate the effect of a future ban, respondents randomly received an information treatment stating that a ban on agricultural antibiotics would be implemented in ten years, while the control group received neutral information. Both groups completed two blocks of choice tasks (one before and one after the information intervention) yielding 1, 008 unique choice observations from 126 complete and usable survey responses. We estimate preference heterogeneity using a mixed multinomial logit (MXL) model and identify distinct behavioral segments using a latent class model (LCM). The MXL results reveal that antibiotic rotation is positively valued on average, while biopesticides and reduced streptomycin use exhibit no significant mean effects but considerable variance, indicating the presence of distinct preference types. Critically, the positive and statistically significant interaction between streptomycin use and the ban information treatment confirms the theoretical prediction that exposure to a prospective antibiotic ban increases the marginal utility of antibiotic applications rather than triggering a shift toward alternatives. The ban signal induces a short-run intensification of antibiotic use which is an unintended behavioral consequence consistent with race-to-depletion dynamics documented in other common-pool resource settings. The interaction between biopesticide adoption and the ban is negative but insignificant, suggesting that policy signals alone are insufficient to accelerate the transition to non-antibiotic alternatives. In fact, the negative and significant interaction between antibiotic application and biopesticide implies that farmers consider biopesticides and antibiotics as substitutes. We also find that farmers increase antibiotic applications when they perceive higher levels of resistance management among neighbors, consistent with free-riding behavior, in which individual producers exploit the stewardship efforts of others. The LCM identifies three economically interpretable classes. The IPM adopter class (26%) strongly prefers rotation and biopesticides and reduces streptomycin use. The forward-looking class (28%) discounts antibiotic applications and prioritizes long-run disease control effectiveness and is more likely to anticipate future bans and operate under higher disease pressure. The myopic free-rider class (46%) favors using less streptomycin out of the three IPM strategies to manage resistance, emphasizes short-run effectiveness, discounts long-run outcomes, and is highly responsive to peer adoption, consistent with free-riding incentives. These findings carry important implications for policy design. Regulatory strategies that announce future bans without accompanying transitional incentives risk inducing a short-run surge in antibiotic use. Effective policies should pair prospective restrictions with instruments that reward early IPM adoption and leverage peer dynamics through targeted extension engagement with opinion leaders. Tailoring interventions to the distinct behavioral segments identified here, rather than targeting the average grower, can improve both the uptake and cost-effectiveness of strategies aimed at preserving antibiotic efficacy in specialty crop systems. |
| Keywords: | Crop Production/Industries |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea25:404853 |
| By: | Migliaccio, Emanuela; Nico, Gianluigi |
| Abstract: | This technical note examines the current landscape and key challenges in collecting high-quality socioeconomic data on fisheries workers and their households. Recognizing the critical role of fisheries and aquaculture in global food security, nutrition, and employment, the note highlights data gaps that hinder effective policy making, vulnerability assessment, and the design of social protection programs. Drawing on the Blue Social Protection Handbook: Protecting People, Fish and Food, the note reviews existing data sources, such as administrative records, household and labor force surveys, and ecological datasets, and assesses their respective strengths and limitations. It also provides guidance for collecting new quantitative and q ualitative data for fisheries workers, drawing on recent case studies from Costa Rica and Kenya. The note concludes with recommendations to strengthen data systematization, improve interoperability, and close knowledge gaps, ultimately supporting more inclusive and responsive social protection and sustainable fisheries management. |
| Date: | 2026–01–23 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:hdnspu:207983 |
| By: | Wanger, Thomas Cherico; Thilsted, Shakuntala Haraksingh; Sheng, Dong; von Braun, Joachim; Fan, Shenggen; Soussana, Jean-Francois |
| Abstract: | Climate, economic shocks, and conflicts destabilize food systems and undermine all aspects of food security. Between 2016 and 2025, the level of food insecurity rose by 153%, primarily driven by droughts until 2019, then by the COVID 19 pandemic and the war in Ukraine. These tensions are amplified in face of the ongoing conflict in the Middle East, where the USA and Israel attack on Iran led to the closure of the Strait of Hormuz, through which 25% of global oil supply pass. Currently, 40% of petrochemicals and 15% of fossil fuels are now used in food systems for pesticide production, plastic packaging, and maintaining long haul cold chains. Disruptions to the flow of 30% of global fertilizer supply and 20% of liquefied natural gas, a key fertilizer feedstock, together with damage to infrastructure in exporting countries, are likely to constrain fertilizer availability for years to come. This will leave farmers in the 2026 crop growing season unable to have sufficient inputs and use their machinery for planting and harvesting. Immediate effects of the Iran war may be felt in vulnerable regions of the world already, with full ramifications manifesting in 2027, through increased food prices and food insecurity globally. Here, we argue that food systems dependence on fertilizer inputs can be generally reduced by enabling farmer-led adoption of diversified systems (e.g., legume rotations, agroforestry, biofertilizers and precision nutrient use) and locking in structural change through simultaneous government action. This is a critical addition to the currently dominating policy debate, where the argument is on fertilizers as strategic food-security infrastructure, with buffer reserves, low-carbon ammonia and tighter nutrient management. |
| Date: | 2026–07–02 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:s5kcx_v1 |
| By: | Ana B. Crist\'obal (0000-0002-4314-6160); Daniel Sierra (0000-0002-6289-7605); Laura Palomino (0000-0002-6289-7605); Luis Miguel Carrasco (0000-0002-6289-7605); Luis Narvarte (0000-0002-6289-7605) |
| Abstract: | The success of distributed photovoltaics may be undermining its own future. As solar penetration increases, electricity prices decline during periods of peak generation, reducing the value of surplus photovoltaic production. This raises a critical question: can citizen-led energy systems remain economically viable in electricity markets dominated by renewable generation? Rather than exploring technically optimal but institutionally unrealistic solutions, we examine the options available under current regulatory and market conditions. Using high-resolution consumption data from a rural community sharing a PV facility among 24 users, we identify pathways for long-term sustainability. The study makes two contributions. First, it shows that effective internal coordination can mobilize participation and investment as successfully as external subsidies. Second, it compares static, dynamic, and hybrid energy-sharing models, with and without storage, providing a flexible framework that balances efficiency, fairness, and governance. Results show that collective self-consumption reduces required PV capacity, lowers investment costs, and increases annual savings compared with individually operated systems. Alternative allocation schemes further improve benefit distribution and local electricity use, although gains depend on trade-offs between efficiency, fairness, and governance complexity. Under current electricity prices and remuneration schemes, battery storage provides limited additional economic value and becomes attractive only under specific market conditions. Overall, the long-term viability of citizen-led photovoltaic initiatives depends less on technological sophistication than on collective coordination and adaptive governance. |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2606.30359 |
| By: | Lucie POINET (LEMNA Ð Laboratoire d'Economie et de Management de Nantes Atlantique); Pierre-Alexandre MAHIEU (LEMNA Ð Laboratoire d'Economie et de Management de Nantes Atlantique) |
| Abstract: | Previous literature has widely explored the influence of descriptive social norms on individualsÕ pro-environmental behavior. However, despite a growing interest in the subject, the role of geographical proximity of the reference group remains unclear. Our study seeks to fill this gap by investigating the impact of a descriptive social norm at two scales: local (neighborhood), and global (city). In this aim, we incorporate descriptive norms as attributes in a discrete choice survey. Our findings reveal that only the local social norm exerts a significant influence on organic waste sorting behavior, while the global social norm does not show a significant effect at conventional statistical levels. These results highlight the importance of considering the geographical proximity of the reference group when studying descriptive social norms. The policy implications of these findings are discussed. |
| Keywords: | Descriptive Social Norm, Local Social Norm, Discrete Choice Experiment, , |
| JEL: | C99 D91 Q51 Q53 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:fae:wpaper:2024.09 |
| By: | Marie-Noëlle Guilbaud (UNAM - Instituto de Geofisica [México] - UNAM - Universidad Nacional Autónoma de México = National Autonomous University of Mexico); Eleonore Mérour (CleRMa - Clermont Recherche Management - ESC Clermont-Ferrand - École Supérieure de Commerce (ESC) - Clermont-Ferrand - UCA - Université Clermont Auvergne); Benjamin van Wyk de Vries (LMV - Laboratoire Magmas et Volcans - IRD - Institut de Recherche pour le Développement - INSU - CNRS - Institut national des sciences de l'Univers - CNRS - Centre National de la Recherche Scientifique - UCA - Université Clermont Auvergne); María del Pilar Ortega-Larrocea (UNAM - Universidad Nacional Autónoma de México = National Autonomous University of Mexico); Silke Cram (UNAM - Universidad Nacional Autónoma de México = National Autonomous University of Mexico); Claire Shires (LRL - Laboratoire de Recherche sur le Langage - UCA - Université Clermont Auvergne); Oryaëlle Chevrel (OVPF - Observatoire Volcanologique du Piton de la Fournaise - IPG Paris - Institut de Physique du Globe de Paris, LMV - Laboratoire Magmas et Volcans - IRD - Institut de Recherche pour le Développement - INSU - CNRS - Institut national des sciences de l'Univers - CNRS - Centre National de la Recherche Scientifique - UCA - Université Clermont Auvergne); Maria Fernanda Martínez-Báez Téllez (UNAM - Universidad Nacional Autónoma de México = National Autonomous University of Mexico); Selene Eridani Zaragoza Alvarez (UNAM - Universidad Nacional Autónoma de México = National Autonomous University of Mexico); Catherine Morgan-Proux (CELIS - Centre de Recherches sur les Littératures et la Sociopoétique - UCA - Université Clermont Auvergne) |
| Abstract: | Globally, natural heritage is increasingly threatened by human activity. Despite the recent development of the geodiversity and geoheritage concepts and the success of associated programs such as UNESCO Global Geoparks, natural heritage is still widely considered to refer only to biotic elements such as plants and animals, demonstrating the persistent gap between geosciences and society. Collective actions are required to address these issues that are crucial in the context of a rapidly changing planet. How can we develop research that considers nature as a whole and open a dialogue with society? To answer this question, we use concepts and tools from organization science to analyse an interdisciplinary exchange project between the Universidad Nacional Autónoma de México (UNAM) in Mexico and the Université Clermont Auvergne in France. Through collaborative work on natural geosites located in both countries, diverse research topics emerged. Using a realistic narrative method, we describe, for each topic, the subjective trajectories and objective outcomes achieved by the participants through their activities, which defined their sense of action, allowed the success of these collective works and ensured their concrete impact for the conservation and protection of the natural sites. We then examine the project's organization using an apparatus that highlights five key organizational processes: 1) the foundation of a common ground through a theoretical framework experienced in the natural sites, 2) the emergence of research topics, 3) the fulfillment of these projects, 4) the diffusion of scientific results, and 5) the dissemination of knowledge to society. We finally discuss the results of our project in terms of sense of place, ecological sensemaking and sensegiving to demonstrate their role in the development of a holistic view of natural heritage that overcomes epistemic differences and culminates in activities of knowledge-sharing that breaks barriers and opens dialogue between science and society. |
| Abstract: | À l'échelle mondiale, le patrimoine naturel est de plus en plus menacé par l'activité humaine. Malgré l'émergence récente des concepts de géodiversité et de gépatrimoine, ainsi que le succès de programmes associés tels que les Géoparcs mondiaux de l'UNESCO, le patrimoine naturel est encore largement considéré comme se limitant aux éléments biotiques, tels que les plantes et les animaux, ce qui témoigne du fossé persistant entre les géosciences et la société. Des actions collectives sont nécessaires pour répondre à ces enjeux cruciaux dans le contexte d'une planète en mutation rapide. Comment développer une recherche qui considère la nature dans sa globalité et ouvre un dialogue avec la société ? Pour répondre à cette question, nous utilisons des concepts et des outils issus des sciences de l'organisation afin d'analyser un projet d'échanges interdisciplinaires entre l'Universidad Nacional Autónoma de México (UNAM) au Mexique et l'Université Clermont Auvergne en France. Grâce à un travail collaboratif sur des sites naturels situés dans les deux pays, divers thèmes de recherche ont émergé. À l'aide d'une méthode narrative réaliste, nous décrivons, pour chaque thème, les trajectoires subjectives et les résultats objectifs obtenus par les participants à travers leurs activités, qui ont défini leur sens de l'action, permis la réussite de ces travaux collectifs et assuré leur impact concret sur la conservation et la protection des sites naturels. Nous examinons ensuite l'organisation du projet à l'aide d'un dispositif mettant en évidence cinq processus organisationnels clés : 1) Un cadrage théorique comme projet fondateur et expérimenté sur des sites naturels , 2) l'émergence de thèmes de recherche, 3) la réalisation de ces projets, 4) la diffusion des résultats scientifiques, et 5) la transmission des connaissances à la société. Nous discutons enfin des résultats de notre projet en termes de sentiment d'appartenance au lieu, de construction du sens écologique et de transmission du sens (sensegiving), afin de démontrer leur rôle dans le développement d'une vision holistique du patrimoine naturel qui surmonte les différences épistémiques et aboutit à des activités de partage des connaissances qui brisent les barrières et ouvrent le dialogue entre la science et la société. |
| Keywords: | Geodiversity, Geoheritage, Organization sciences, Natural heritage, Geosciences, Biodiversity |
| Date: | 2026–02–27 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05666754 |
| By: | Andreas Lichtenberger (The Vienna Institute for International Economic Studies, wiiw); Oliver Reiter (The Vienna Institute for International Economic Studies, wiiw); Bernhard Schütz (The Vienna Institute for International Economic Studies, wiiw) |
| Abstract: | We develop an agent-based stock-flow consistent macroeconomic model with multiple industries and supply chains to analyse the propagation of sectoral shocks. The model features five industries with heterogeneous firms producing final goods, intermediate inputs, and capital goods. Key innovations are the distinction between homogeneous intermediate goods (produced on stock) and tailor-made capital goods (ordered in advance), reflecting differences in production processes and the usage of the Almost Ideal Demand System (AIDS) for modelling household consumption behaviour. Calibrated to Austrian data using Eurostat sources and neural posterior estimation, the model is used to analyse the economy’s response to a sector-specific supply shock, illustrated through the example of a flooding event affecting the primary sector. Our results demonstrate that inventory levels critically determine economic resilience a 100-year flood has limited impact regardless of the industry setup, but under a 1, 000-year flood, low inventory ratios trigger a vicious circle in which supply shortages cascade across industries, preventing reconstruction and causing a prolonged GDP contraction. High inventory buffers, by contrast, enable rapid recovery. Hence, the structural decomposition into industries becomes decisive when inventories are low, revealing that interdependencies matter most during supply-constrained crises. These findings highlight the importance of explicitly modelling industry interdependencies and inventory dynamics for understanding shock propagation. |
| Keywords: | agent-based model, supply chains, input-output analysis, inventories, shock propagation, climate change |
| JEL: | C63 D57 E17 E37 Q54 |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:wii:wpaper:277 |
| By: | Salayeva, Guli; Reyimberganov, Baxrom |
| Abstract: | This study examines the relationship between financial technology development and green investment flows across 12 emerging economies from 2015 to 2024. Using fixed effects panel data regression, the findings indicate that FinTech development is significantly associated with increased green investment (β = 0.347, p < 0.01), with threshold effects observed at moderate levels of technological infrastructure. The analysis reveals that mobile payment penetration and digital lending platforms serve as the primary channels through which FinTech influences green capital allocation. Policy implications for emerging market regulators seeking to leverage digital finance for sustainability goals are discussed. |
| Date: | 2026–06–25 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:c6h2v_v1 |
| By: | Chakraborty, Judhajit; Bayham, Jude; Goemans, Christopher; Manning, Dale; Muriqi, Diellza; Suter, Jordan |
| Abstract: | This study investigates the labor market consequences of floods – historically among the most lethal and expensive natural disasters in the United States. Using quarterly, county-level employment and wage data spanning 1996-2023, our empirical approach distinguishes between flash floods and floods with gradual, slower onset patterns (non-flash floods). The empirical results show that an additional day of flash floods in a quarter reduces county-level employment and wages by 0.13% and 0.15% respectively. We find that total wages diminished by an average of $6.2 billion per year (in 2023 USD) between 1996 and 2023 as a result of flash and non-flash floods. Sectoral analyses show that wage impacts occur in both goods-producing and service sectors while goods-producing sectors drive employment effects. Heterogeneous effects reveal that economically vulnerable counties experience larger negative impacts from both flood types and that both coastal and inland counties face negative economic disruptions. Taken together, the sub-annual analysis uncovers labor market disruptions that are masked in annual aggregates, advancing understanding of flood impacts and informing the design of policies to build resilience against shocks. |
| Keywords: | Dairy Production/Industries, Labor and Human Capital |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404305 |
| By: | Newbery, D. M. |
| Abstract: | Ambitious European energy plans envisage a large increase in Variable Renewable Electricity (VRE), often located distant from demand and congesting existing transmission. Many countries recognise the importance of better locational signals for investment and operation, and possible changes to VRE support systems to reduce risk and cost. This paper argues that an efficient low-carbon transition requires a suitable portfolio of reforms to transmission and market pricing and VRE support design, with different combinations suitable when some options (like spatial transmission charges or locational wholesale pricing) are ruled out. |
| Keywords: | Variable Renewable Electricity, Curtailment, Congestion, Locational Pricing, Transmission Pricing |
| JEL: | L94 Q42 Q48 |
| Date: | 2026–06–30 |
| URL: | https://d.repec.org/n?u=RePEc:cam:camdae:2646 |
| By: | Goodhart, Charles; Vu, Ly Hoang |
| Abstract: | This paper investigates determinants of firm’s climate change mitigation and examines how such actions relate to both perceived and actual access to finance. Using a cross-country dataset with continental disaggregation from the Business Environment and Enterprise Performance Survey Round VI of the EBRD and World Bank Enterprise Surveys, we have a sample of 59, 846 enterprises across 68 countries during 2018 – 2025. We then analyse two key mitigation measures (energy management and CO₂ monitoring) across multiple econometric specifications. The results reveal significant gender differences: female ownership is positively associated with adopting mitigation measures and securing credit, while female top managers are less likely to engage in mitigation or obtain finance. Macroeconomic conditions exert nuanced influences: higher average GDP levels over the past five years are generally linked to greater mitigation adoption, whereas longer-term GDP effects are weaker. Inflation (both short-term and long-term averages) emerges as a consistent barrier to climate action. Our study also identifies a finance access paradox: mitigation measures improve actual credit access but do not consistently enhance perceived ease of finance, and CO₂ monitoring can even reduce perceived access. Furthermore, mitigation actions show a stronger and more robust link to actual than perceived finance, suggesting that lenders reward climate-positive behaviour more than firms recognise. Continental sensitivity analyses confirm that effect magnitudes and directions vary across Western Europe, Eastern Europe, Asia, Latin America, and Africa and MENA. |
| Keywords: | Access to finance; Gender |
| JEL: | G21 L14 |
| Date: | 2025–09 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20645 |
| By: | Salayeva, Guli; Reyimberganov, Baxrom |
| Abstract: | This paper investigates barriers preventing small and medium enterprises from adopting digital technologies for green business models in transition economies. A survey of 385 SME owners across Uzbekistan, Kazakhstan, and Kyrgyzstan was conducted. Factor analysis identifies five barrier dimensions, and logistic regression reveals that financial constraints and human capital deficits are the strongest predictors of non-adoption. Recommendations for targeted policy interventions are provided |
| Date: | 2026–06–25 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:sfrkp_v1 |
| By: | Bermejo, Vicente; Ghofrani, Erfan; Villegas-Sanchez, Carolina |
| Abstract: | This paper examines how negative environmental or social (E&S) news about suppliers affects downstream firms’ supply chain configurations and real economic outcomes. Using a novel dataset combining supply-chain links and ESG incident data, we find that ESG negative news shocks significantly increase the likelihood of supplier termination, particularly when inputs are generic and easily replaced. However, when inputs are highly specific, firms often retain ESG-implicated suppliers, even under reputational pressure. We also document an asymmetric response: firms are more likely to drop domestic suppliers than foreign ones following ESG incidents, highlighting the role of switching costs and input specificity. Using a difference-in-differences and instrumental variables strategy, we show that ESG-induced terminations raise operating costs for customers by 4.4%, reduce markups by 6.7%, and lower productivity by 3.6%. These effects are concentrated in cases involving foreign or specialized inputs, underscoring the operational vulnerabilities ESG risks pose across global supply networks. |
| Keywords: | ESG; Markups; Productivity |
| JEL: | G32 F14 D24 Q56 |
| Date: | 2025–08 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:20561 |
| By: | David Newbery |
| Keywords: | Variable Renewable Electricity, curtailment, congestion, locational pricing |
| JEL: | L94 Q42 Q48 |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:enp:wpaper:eprg2611 |
| By: | Zhang, Zhexi; Luan, Jian; Wang, Ming; Xue, Li; Mu, Yueying; Gao, Yang |
| Abstract: | mallholder agriculture accounts for a substantial share of global fertilizer use, yet farm-level constraints in capital, labor, and technical capacity continue to impede greener production. Agricultural socialized services have been proposed as an institutional pathway for relaxing these constraints, but the channels through which they affect input use remain incompletely understood. We develop an analytical framework that links multi-stage agricultural socialized services to three channels of fertilizer reduction—input precision, factor substitution, and value realization—and use micro-level survey data on 970 vegetable producers in four facility-vegetable provincial-level jurisdictions in China (Beijing, Tianjin, Hebei, and Shandong) to test the framework empirically. We find that the adoption of agricultural socialized services significantly reduces fertilizer application intensity, with the estimated effect robust to instrumenting for service adoption with village-level service development, median regression, sample restriction, and an alternative expenditure-based measure of adoption. Mechanism estimates indicate that mechanization services raise the adoption of soil testing and formula-based fertilization, field management services raise organic manure application, and marketing services raise farm-gate prices. Heterogeneity analysis shows that the fertilizer-reducing effect is concentrated among smallholders and older operators. These findings suggest that, in smallholder-dominated and aging agricultural systems, a service-based division of labor can advance green transformation without requiring large changes in land tenure. |
| Keywords: | Crop Production/Industries |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404306 |
| By: | Oskar Kowalewski (IESEG School of Management); Oleksandr Talavera (University of Birmingham); Thanh Nam Vu (University of Birmingham) |
| Abstract: | This study examines whether family ownership is associated with lower firm-level dependence on ecosystem services. Using a panel of U.S. listed firms from 2010 to 2023, we find that family firms exhibit lower nature dependence than their non-family counterparts. The results are more consistent with long-term orientation than with generic risk aversion: the dependence-reducing effect of family ownership is stronger among firms with higher capital expenditure, unrelated to leverage, and shaped by governance structure. In particular, the effect is stronger among firms with a corporate governance committee and weaker among firms with politically connected boards. These findings are consistent with stewardship theory and support a context-dependent view of family firm behaviour. Overall, our results suggests that ownership structure is an important determinant of firms' exposure to physical nature risk, and that family ownership may mitigate such exposure through long-horizon strategic choices that reduce reliance on vulnerable ecosystem services. |
| Keywords: | Temperature; nature dependence; family ownership; corporate governance. |
| JEL: | G30 M14 Q57 |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:bir:birmec:26-03 |
| By: | Podestá, Andrea |
| Abstract: | Los países de América Latina y el Caribe enfrentan el desafío de alcanzar un crecimiento sostenido con limitaciones en materia de inversión, productividad y espacio fiscal, más el agravante de la vulnerabilidad climática. La CEPAL indica que la descarbonización y adaptación exigen inversiones sustanciales, y señala algunos sectores dinamizadores, como los de transición energética, electromovilidad y economía circular. Es prioritario implementar una estrategia integral que considere, entre otros aspectos, los incentivos tributarios relacionados con la sostenibilidad ambiental, diseñados con una gobernanza sólida. Este estudio propone un enfoque metodológico para sistematizar y evaluar tales instrumentos, y subraya que, aunque pueden fomentar la inversión y un crecimiento económico más respetuoso con el medio ambiente, muchos programas actuales presentan ineficiencias o efectos negativos. A partir de experiencias recientes en la región que incorporan la perspectiva ambiental al análisis de los gastos tributarios, se recomienda fortalecer las capacidades institucionales mediante la promoción de una gestión estratégica y transparente que permita alinear la política fiscal con los compromisos climáticos, optimizar el uso de recursos limitados y afianzar modelos de desarrollo más productivos, inclusivos y sostenibles. |
| Date: | 2026–05–05 |
| URL: | https://d.repec.org/n?u=RePEc:ecr:col022:89991 |
| By: | Büchinger, Ricarda; Dreher, Marc; Kungl, Gregor |
| Abstract: | In den zurückliegenden Jahren gab es eine Reihe an Entwicklungen, die sich als eine Verlangsamung, teilweise auch Umkehrung ökologisch-nachhaltiger Transformationsprozesse betrachten lassen - etwa der Austritt der USA aus dem Pariser Klimaabkommen. Diese Entwicklungen werden in der akademischen und öffentlichen Debatte als anti-ökologischer Backlash diskutiert. Die vorliegende Studie untersucht auf Basis von 31 qualitativen Interviews mit Entscheidungsträger:innen aus Unternehmen der Energiewirtschaft, Lebensmittelbranche und verarbeitenden Industrie, wie der antiökologische Backlash von Wirtschaftsakteuren wahrgenommen wird, welche Zukunftserwartungen sie damit verbinden und mit welchen unternehmerischen Maßnahmen sie ihm begegnen. Das Ergebnis zeigt, dass der Backlash zwar breit wahrgenommen wird, die damit verbundenen Zukunftserwartungen aber sehr heterogen sind und sich unter anderem zwischen den verschiedenen Branchen unterscheiden. Während einzelne Unternehmen nachhaltigkeitsbezogene Investitionen reduzieren oder pausieren, bleiben die Reaktionen auf den Backlash in den meisten unserer Fälle tentativ und beschränken sich auf eine Anpassung der Außenkommunikation. Aufgrund der Aktualität des Themas bleiben die Ergebnisse jedoch vorläufig und eine weitere begleitende Untersuchung erforderlich. |
| Abstract: | In recent years, there have been a number of developments that can be seen as a slowdown-and in some cases, a reversal-of sustainability transition processes, such as the U.S. withdrawal from the Paris Climate Agreement. These developments are discussed in academic debate as an anti-environmental backlash. Based on 31 qualitative interviews with decision-makers from companies in the energy sector, food supply, and processing industry, this study examines how economic actors perceive the antienvironmental backlash, what future expectations they associate with it, and what business measures they are taking to address it. The results show that while the backlash is widely recognized, the associated future expectations are highly heterogeneous and vary, among other things, across different sectors. While some companies are reducing or pausing sustainability-related investments, reactions to the backlash remain tentative in most of our cases and are limited to adjustments in external communication. However, given the topicality of the issue, the findings remain preliminary, and further monitoring is required. |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:stusoi:341988 |
| By: | Jean-Marc Bourgeon (X-DEP-ECO - Département d'Économie de l'École Polytechnique - X - École polytechnique - IP Paris - Institut Polytechnique de Paris, UMR PSAE - Paris-Saclay Applied Economics - AgroParisTech - Université Paris-Saclay - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Pierre Picard (CREST - Centre de Recherche en Économie et Statistique - ENSAI - Ecole Nationale de la Statistique et de l'Analyse de l'Information [Bruz] - Groupe ENSAE-ENSAI - Groupe des Écoles Nationales d'Économie et Statistique - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - ENSAE Paris - École Nationale de la Statistique et de l'Administration Économique - Groupe ENSAE-ENSAI - Groupe des Écoles Nationales d'Économie et Statistique - IP Paris - Institut Polytechnique de Paris - CNRS - Centre National de la Recherche Scientifique) |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05669657 |
| By: | More, Shreyash Satish |
| Abstract: | To shift EU sustainability reporting from voluntary reporting towards legally binding accountability, The Corporate Sustainability Reporting Directive, EU Sustainability Reporting standards and EU Taxonomy have been developed. The 2026 Omnibus reform pulls back partly this development by limiting which entities must report, setting bounds on value-chain data requests, easing reporting standards and reformulating corporate due diligence. This article discusses whether the post-Omnibus framework enhances substantive ESG accountability or widens scope for symbolic compliance. Relying on a qualitative legal doctrinal and conceptual approach it examines relevant EU legal instruments, regulations, supervisory advice and legal literature. It coins regulation-induced decoupling, a divergence between formal compliance and substantive accountability, arising from the design of a regulation not by firm conduct and frames it through five testable proposals: on market level data loss and on firm level compliant omissions. While simplification can be a welcome thing if it avoids double reporting, it dilutes accountability when narrower scope of reporting, lesser value-chain data and less strict materiality judgements provide firms with opportunities to omit challenging impacts while satisfying technical reporting rules. |
| Date: | 2026–07–03 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:rfv25_v1 |