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on Environmental Economics |
| By: | Yuan, Ye; Baldos, Uris Lantz; Zhuang, Qianlai; Taheripour, Farzad; Chen, Shuo |
| Abstract: | Forest plays an increasingly critical role in the global carbon cycle, yet no consistent globally harmonized dataset exists that distinguishes intact from modified forest across regions and is compatible with integrated assessment frameworks that are used in global climate and socioeconomic analysis. Here we compile and compare forest area estimates from four widely used global datasets, including FAO FRA, MODIS, ESA-CCI, and HILDA+ at the country and Agro-Ecological Zone (AEZ) level over 2001–2020. While all four datasets show a strong agreement in total, intact, and modified forest area shares (pairwise r > 0.95) at country level, substantial disagreement emerges in forest area estimates in certain regions, particularly in ecologically heterogeneous biomes such as tropical savanna-forest transition zones and sparse woodland margins, driven by differences in canopy cover thresholds and classification schemes. Building on these findings, we developed a country- and AEZ-level dataset of modified and intact forest area covering 2001–2020, compatible with the Global Trade Analysis Project (GTAP) framework. This dataset provides a valuable resource for quantifying forest biomass and carbon inventories, modelling land-use-based greenhouse gas emissions, and supporting climate policy analysis under international frameworks. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404471 |
| By: | Long, Weitong; Zhu, Xueqin; Hou, Yong; Peña-Lévano, Luis M.; Garcia-Covarrubias, Luis; Boy, Karl-Friedrich |
| Abstract: | Shifting to healthier diets and afforestation can reduce greenhouse gas emissions and enhance carbon sequestration. However, when implemented unilaterally by China, these measures may support domestic carbon neutrality while triggering emission leakages through trade-induced land-use changes. Using an integrated environmental- economic model, we found that China’s proposed dietary shift towards lower meat and higher dairy consumption may induce 14 Mha of additional agricultural land use abroad and cause 364 Tg CO₂-eq of emission leakage, almost four times the domestic mitigation. Similarly, China’s afforestation policy may displace food production abroad, resulting in 16 Mha of additional agricultural land use and 424 Tg CO₂-eq of emission leakage, exceeding its domestic mitigation. Such leakages may undermine the feasibility of the 2 °C climate target and necessitate more stringent mitigation in non-agricultural sectors. Combined with the 2 °C climate target, China’s dietary shift and afforestation policies may amplify insecurity and gross domestic product losses than the 2 °C climate target alone. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404467 |
| By: | Zhang, Liyuan; Ahmadiani, Mona; Valizadeh, Pourya; Woodward, Richard; Boehm, Rebecca |
| Abstract: | Understanding how households adapt to rising temperatures is central to evaluating the economic costs of climate change, yet evidence on adaptation in food consumption and expenditure remains limited. This paper studies behavioral adaptation in food-at-home spending to climate change by distinguishing short-run responses to weather fluctuations from long-run responses to persistent warming in the United States. Using household-level grocery transaction data matched with high-resolution temperature records, we decompose realized temperature into a slow-moving climate norm and a short-run weather deviation and estimate behavioral responses on both the extensive margin, the decision to shop, and the intensive margin, expenditure conditional on shopping. We find that food-at-home spending declines with higher temperatures in both short and long-run, but the long-run climate response is much larger. A 1℃ increase in weekly temperature above the norm lowers expected weekly spending by about 13 cents per capita, while a 1℃ increase in the climate norm lowers weekly spending by about 50 cents. This implies that behavioral adaptation intensifies, rather than attenuate the short-run effect of heat. Responses vary across income groups, regions, and food categories, and differ between cold and heat exposure. These results highlight the importance of household consumption behavior for accurately measuring economic impact of climate change and the role of behavioral adaptation in adjusting long-run welfare cost. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404514 |
| By: | Bauer, Michael; Huber, Daniel; Offner, Eric; Renkel, Marlene; Wilms, Ole |
| Abstract: | We identify corporate commitments for reductions of greenhouse gas emissions--green pledges--from news articles using a large language model. About 8% of publicly traded U.S. companies have made green pledges, and these companies tend to be larger and browner than those without pledges. Announcements of green pledges significantly and persistently raise stock prices, consistent with reductions in the carbon premium. Firms that make green pledges subsequently reduce their CO2 emissions. Our evidence suggests that green pledges are credible, have material new information for investors, and can reduce perceived transition risk. |
| JEL: | G14 G32 Q54 Q56 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19788 |
| By: | Pástor, Luboš; Stambaugh, Robert F.; Taylor, Lucian |
| Abstract: | We quantify the U.S. corporate sector's future carbon damages by computing its "carbon burden"---the present value of social costs of its future carbon emissions. Our baseline estimate of the carbon burden is 131% of total corporate equity value. Even with indirect emissions excluded, 13% of firms have carbon burdens exceeding their market capitalizations. The 30 largest emitters account for all the decarbonization of U.S. corporations predicted by 2050. Predicted emission reductions, and even firms' targets, fall short of the Paris Agreement. Carbon burden is priced: firms with higher burdens have higher costs of capital, even controlling for past emissions. |
| Keywords: | Externality |
| JEL: | D62 G30 G38 Q51 Q54 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19668 |
| By: | Edenhofer, Ottmar; Franks, Max; Gruner, Friedemann; Kalkuhl, Matthias; Lessmann, Kai |
| Abstract: | Carbon dioxide removal (CDR) is becoming an emerging topic in climate policy. We review the nascent economic literature on the governance of CDR and discuss policy design and institutions. We first assess the role of CDR in climate policy portfolios that include abatement and adaptation. Cost saving technological progress could make CDR a game changer in climate pol- icy: CDR creates new sectoral, intertemporal and international flexibilities, which reduce overall costs and allow returning to a temperature target after temporary overshooting. Moreover, carbon removal can reduce the problem of international cooperation due to substantially lower supply-side leakage via fossil fuel markets. A key challenge lies in its governance and incentive structure that is complicated by non-permanence of carbon storage and default risks of the firms committed to future CDR. For CDR governance, we survey approaches that incentivize removals by price instruments or include CDR in (modified) emissions trading schemes. |
| Keywords: | Carbon Dioxide Removal; Climate policy; Carbon pricing; Carbon storage; Emission trading |
| JEL: | H23 Q54 Q58 |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19835 |
| By: | Bauer, Michael; Offner, Eric; Rudebusch, Glenn |
| Abstract: | The Inflation Reduction Act of 2022 (IRA) represents the largest climate policy action ever undertaken in the United States. Its legislative path was marked by two abrupt shifts as the likelihood of climate policy action fell to near zero and then rose to near certainty. We investigate equity price reactions to these two events, which represent major realizations of climate policy transition risk. Our results highlight the heterogeneous nature of climate policy risk exposure. We find sizable reactions that differ by industry as well as across firm-level measures of greenness such as environmental scores and emission intensities. While the financial market response to the IRA was economically significant, it did not lead to instability or financial stress, suggesting that transition risks posed by climate policies even as ambitious as the IRA may be manageable. |
| JEL: | G14 G38 Q54 Q58 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19755 |
| By: | Woerner, Andrej; Imai, Taisuke; Pace, Davide; Schmidt, Klaus |
| Abstract: | Carbon pricing is a powerful but politically contentious tool for tackling climate change. Governments can, however, try to increase public support for it by adjusting how the revenues raised by the carbon price are used. In a fully incentivised experiment with a large representative sample of the German population, we compare voter support for five different carbon pricing schemes. We show that uniform carbon dividends (equal per capita transfers to all citizens) receive substantially more support than a carbon dividend that favours poorer people, than earmarking revenues for climate projects, and especially than using revenues for the general government budget. Among the uniform carbon dividend schemes, a Climate Premium that pays a fixed upfront transfer equal to the expected carbon revenues receives more support than a carbon dividend scheme where the size of the transfer is determined ex-post based on the actual revenues. Furthermore, we show that participants and experts underestimate public support for carbon pricing. These findings suggest that policies for sustainable development gain more support when affected voters are uniformly compensated for the costs imposed on them. In addition, the paper highlights the importance of incentivised experiments in studying public support for such policies. |
| JEL: | H23 P48 Q54 Q58 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19590 |
| By: | Giglio, Stefano; Kuchler, Theresa; Ströbel, Johannes; Wang, Olivier |
| Abstract: | We study the economic effects of the interaction of nature loss and climate change in a model that incorporates important aspects of both processes. We capture the distinct ways in which they affect economic activity—with nature constituting a key factor of production and climate change destroying parts of output—but also the ways in which they interact: climate change causes nature loss, and nature provides both a carbon sink and adaptation tools to reduce climate damages. Our analysis of these feedback loops reveals a novel amplification channel—the Twin-Crises Multiplier—that systematically affects optimal climate and nature conservation policies. |
| Date: | 2025–02 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19935 |
| By: | Bettarelli, Luca; Furceri, Davide; Loungani, Prakash; Ostry, Jonathan D.; Pisano, Loredana |
| Abstract: | In this paper, we first test the validity of the Environmental Kuznets Curve (EKC) hypothesis, using a large sample of approximately 190 advanced and developing countries, over a period of 34 years (1989-2022). We find that (CO2) emissions respond positively to increasing income per-capita, up to a turning point of approximately US$25, 000. In a departure from the previous literature, we allow the relationship between economic development and emissions to depend on the stringency of environmental regulation. Our results indicate that environmental policies—and particularly market-based instruments, such as carbon taxes and emission trading systems—make the EKC lower and flatter. These results are robust to several sensitivity checks, and to the use of regional (rather than global) data. Overall, our results have important policy implications, as they identify economic development as a pathway to environmental improvements. Moreover, we show that environmental policies are an essential ingredient to achieve decoupling of emissions and economic output over the longer term. |
| Keywords: | Environmental kuznets curve; Climate change policies; Decoupling; Carbon tax |
| JEL: | C33 Q53 |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19900 |
| By: | Pástor, Luboš; Stambaugh, Robert F.; Taylor, Lucian |
| Abstract: | We review the literature on sustainable investing, focusing on financial effects. First, we examine the effects of investor tastes on portfolio tilts and asset prices in a simple equilibrium setting. We establish novel connections, including a direct relation between the green portfolio tilt and the greenium. We also relate our framework to prior modeling of divestment. Finally, we review evidence related to the main concepts from our theoretical analysis, including the greenium, green tilts, climate risk, and investor tastes. |
| Keywords: | ESG |
| JEL: | G11 G12 G14 G23 Q5 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19746 |
| By: | Chini, Emanuele; Kräussl, Roman; Stefanova, Denitsa |
| Abstract: | We assess the sustainability footprint of mutual funds through the companies they hold. Instead of rely- ing on ESG ratings, the sustainability of each company is measured based on its average impact—positive or negative—on the 17 United Nations Sustainable Development Goals (SDGs). We document that mutual funds aligned with the SDGs attract more inflows only when they explicitly adopt a sustainability mandate. In con- trast, funds without such a mandate see reduced inflows as their alignment with the SDGs increases. It is the negative component that predominantly drives these patterns, suggesting that investors tend to exclude funds with negative SDG alignment rather than increasing capital inflows towards funds with positive SDG contribu- tions. Despite investors’ preference for sustainable funds, their actions are primarily focused on avoiding harm through divestments from non-sustainable into “neutral†funds rather than shifting capital towards funds that positively contribute to the SDGs. |
| JEL: | G11 G23 Q56 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19703 |
| By: | Benincasa, Emanuela; Carradori, Olimpia; Ferreira, Miguel; Garcia-Appendini, Emilia |
| Abstract: | We show that climate transition risks can significantly disrupt supply chain networks. Specifically, suppliers affected by the California cap-and-trade program are more likely to lose customer relationships and less likely to form new ones compared to their competitors unaffected by the program. The effects are more pronounced among suppliers facing high competitive pressure and producing standardized inputs. Additionally, affected suppliers experience declines in revenues, assets, and profitability. This supply chain rewiring induced by uncoordinated climate policies is consistent with carbon leakage, as customers exposed to the program through production networks show an increase in their supply chain emission intensity. |
| Keywords: | Climate finance; Carbon emissions; Supply chain; Product market competition; Input specificity |
| JEL: | G32 Q54 Q55 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19676 |
| By: | Coster, Pierre; Di Giovanni, Julian; Mejean, Isabelle |
| Abstract: | This paper studies how firms adjust input sourcing in response to climate policy. Using the EU Emissions Trading System (ETS) as a natural experiment and French product-level import and production data, we show that firms increasingly shifted imports of ETS-regulated inputs to non-EU countries over the 2010s as the policy became more stringent, indicating carbon leakage. This leakage is economically significant: the share of ETS-regulated products sourced from outside the EU rose by 4.3 percentage points after the ETS was implemented. Motivated by these empirical findings, we estimate a heterogeneous firm model using pre-ETS data. Simulating the model under a €100 carbon tax reproduces observed leakage, raises domestic prices and modestly reduces French emissions. Adding a carbon tariff similar to the EU’s Carbon Border Adjustment Mechanism (CBAM) reverses the leakage but further increases prices. The combined ETS+CBAM regime is seven times more effective than the ETS alone in reducing emissions. |
| JEL: | F14 F18 F64 H23 Q56 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19644 |
| By: | Boldrini, Michela; Bosetti, Valentina; Nunnari, Salvatore |
| Abstract: | Negative Emissions Technologies (NETs) — a range of methods to remove carbon dioxide from the atmosphere — are a crucial innovation in meeting temperature targets set by international climate agreements. However, mechanisms that undo the adverse consequences of short-sighted actions (such as NETs) can fuel substitution effects and crowd out virtuous behaviors (e.g., mitigation efforts). For this reason, the impact of NETs on environmental preservation is an open question among scientists and policy-makers. We model this problem through a novel restorable common-pool resource game and use a laboratory experiment to exogenously manipulate the key features of NETs and assess their consequences. We show that crowding out only emerges when NETs are surely available and cheap. The availability of NETs does not allow experimental communities to either conserve the common resource for longer or accrue higher earnings and makes the earnings distribution more unequal. |
| Keywords: | Carbon Dioxide Removal; Environmental Sustainability; Climate Crisis; Common-Pool Resource |
| JEL: | C92 H41 Q55 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19806 |
| By: | Broeders, Dirk; Mongelli, Francesco Paolo |
| Abstract: | The climate crisis is an urgent, human-driven systemic challenge whose impacts are unfolding through increasingly frequent and severe extreme events. Although the 2015 Paris Agreement advanced global climate governance, implementation remains insufficient to limit warming to well below 2 °C and pursue 1.5 °C. Accelerating risks, interacting crises and potential tipping points suggest that climate change could become unmanageable if current GHGs emissions trajectories persist. This paper makes three contributions. First, it examines why we are failing to act decisively, highlighting a persistent awareness gap, competing priorities and weak political incentives for ambitious climate action. Second, it draws on NGFS climate-policy scenarios, the climate policy trilemma and a precautionary approach to clarify policymaking trade-offs under uncertainty. Third, it reviews policy, financial and technological levers to accelerate a just green transition. A new climate policy paradigm is needed: a systemic, precautionary, adaptive and incentive-compatible framework that can “tilt the odds” away from irreversible climate damage, even when probabilities are poorly known. JEL Classification: D81, E61, D62, Q54 |
| Keywords: | adaptive climate policies, ambition gap, climate crisis, deep uncertainty, Paris Agreement, tipping points |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:ecb:ecbwps:20263261 |
| By: | Rausch, Sebastian; Straubinger, Anna |
| Abstract: | We study the design of climate policy for hard-to-abate sectors, focusing on global aviation. We build a spatial equilibrium model that links ticket booking data, the global airline network, and climateregulaairlines' choices in imperfectly competitive air transport markets. We find that sustainable aviation fuel (SAF) quotas outperform carbon pricing, delivering equal emissions cuts at 46-66% of the welfare cost. Ignoring market structure understates the cost of price-based Pigouvian instruments when fuel-capital substitution is limited. SAF quotas are more robust to regulatory scope, cause less carbon leakage, and - when layered with existing carbon pricing - increase abatement while lowering welfare cost. Relying on carbon offsets risks locking in fossil jet fuel, whereas cost-effective in-secto abatement hinges on substantial SAF uptake. |
| JEL: | Q58 H23 L93 R48 C63 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:zewdip:341978 |
| By: | Park, Eunseong; Rausch, Sebastian; Karplus, Valerie J. |
| Abstract: | Border carbon adjustments (BCAs) are intended to limit carbon leakage while protecting domestic industry, but governments differ over whether border charges should price total embodied emissions or only emissions above an intensity benchmark. We study this design choice in a plant-level general equilibrium model of the global steel industry with heterogeneous technologies and vertical supply chains. A rate-based BCA is equivalent to an emissions charge combined with an implicit output sub-sidy. It therefore weakens the carbon-price signal, encourages reshuffling of cleaner output toward the regulated market, and can induce leakage through underpriced carbon-intensive intermediates. In an EU-style setting with domestic carbon pricing, the rate-based design transmits only 36% of the mass-based border price needed to achieve the same global emissions reduction and yields larger welfare losses. In a US-style setting without a domestic carbon-price anchor, it mainly shifts rents toward domestic downstream industries rather than inducing abatement abroad. |
| Keywords: | border carbon adjustments, carbon leakage, climate policy, steel industry, general equilibrium, vertical supply chains, emission intensity benchmarks |
| JEL: | F18 Q58 H23 L61 C63 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:zewdip:341977 |
| By: | Tolkki, Ville; Junttila, Juha; Sahlström, Petri |
| Abstract: | The paper studies how climate policy affects the brown risk premium in bank lending, distinguishing between Scope 1 (direct) and Scope 2 (energy-related) emissions using loanlevel data on new variable-rate corporate loans from 2019-2024 matched with constructed measures of Scope 1 and Scope 2 emission intensity. Exploiting the Finnish Climate Act of 2022, which set a binding 2035 net-zero target, we show that Scope 1 emissions are priced throughout the sample, indicating pre-existing risk pricing, while Scope 2 emissions are priced mainly after the policy, suggesting an expansion of priced transition risks. We further isolate periods of acute energy market stress and find that banks temporarily deprioritize carbon risk during energy crisis months. Estimated carbon premia are economically meaningful, but we do not find strong evidence that pricing differs systematically between large and small firms. |
| Keywords: | Banking, corporate loan pricing, climate policy |
| JEL: | G21 G32 Q54 Q58 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:bofrdp:342401 |
| By: | Stefano Carattini; Givi Melkadze; Inès Mourelon |
| Abstract: | Central banks and financial surveillance authorities need to cope with the potential realization of financial stability risks, adopting preventive measures or using liquidity once crises materialize. Transition risk — the stability risk associated with decarbonization — is a case in point. Such risk not only comes from policy changes, but also from preference shocks. Hence, this paper develops an environmental DSGE model with financial frictions and examines responses to shocks, including a novel angle on preference shocks. We show that these market-driven transition shocks generate larger macro-financial instability than carbon pricing for a given change in emissions, while delaying environmental gains. We then compare policy responses according to their timing. Ex-ante macroprudential policies that reduce banks’ exposure to transition risk dampen financial amplification, whereas ex-post interventions, such as quantitative easing, provide only partial stabilization once losses have materialized. Overall, our results indicate that market-led adjustments to transition risk are more destabilizing than carbon pricing, whereas preventive financial measures limit macro-financial instability more effectively than ex-post interventions under the policy comparisons considered, supporting the case for early action. |
| Keywords: | transition risk, financial frictions, climate policy, preference shocks, macroprudential policy, quantitative easing |
| JEL: | E32 E60 G18 Q43 Q58 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12844 |
| By: | Dewy Verhoeven; Deniz Kilic; Suphi Sen; Hans-Peter Weikard |
| Abstract: | Draining peatlands to allow agricultural production causes subsidence through peat oxidation, which is a major source of greenhouse gas emissions. Addressing this tradeoff, we develop an optimal control model of peat subsidence accounting for emissions, water management costs, and agricultural productivity. We apply this model to the Dutch peat meadows by constructing a new dataset at the parcel level using a geospatial model of land subsidence. We find that immediate rewetting or strong drainage reduction is socially optimal for most of the parcels. The optimal policy reduces subsidence and emissions by about 55 percent, saving about 1 Mt of CO2 annually. Relative to maintaining current drainage practices, accounting for climate costs increases net social benefits by 4 to 12.3 billion Euros depending on the carbon price. |
| Keywords: | optimal control, peatlands, land subsidence, greenhouse gas emissions, groundwater management, rewetting, peatland restoration |
| JEL: | C61 Q15 Q24 Q25 Q50 Q54 Q57 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12838 |
| By: | Matthias Rodemeier; Christoph Semken |
| Abstract: | This paper reviews the growing field of behavioral environmental economics: the study of how cognition, beliefs, and social preferences shape sustainable behavior and the effectiveness and political feasibility of environmental policy. We synthesize recent theoretical, experimental, and empirical contributions, with emphasis on sustainable consumption, green investment, firm behavior, and political economy. We highlight design lessons and open questions for policy and research. |
| Keywords: | behavioral environmental economics, sustainable consumption, environmental policy, energy conservation, green investment, social preferences, carbon pricing, behavioral political economy |
| JEL: | D61 D72 D91 G11 G41 G41 H23 H41 P18 Q50 Q51 Q58 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12847 |
| By: | OECD |
| Abstract: | Integrating trees into agricultural landscapes can enhance farm resilience, support biodiversity, and contribute to long-term environmental performance. Policies increasingly promote tree planting and related forest management on agricultural land. These measures range from small-scale support for on-farm tree management to programmes enabling large-scale forestry plantations. Policies that support large-scale tree planting and target carbon sequestration offer the highest average payment rates, at around USD 1 800 per hectare (excluding outliers). In contrast, policies that target additional environmental benefits within agricultural production, mainly to support incremental changes, tend to offer lower average payment rates, at approximately USD 235 per hectare per year (excluding outliers). To enhance the design, implementation, and overall effectiveness of tree planting and related forest management policies, decision makers should reduce key barriers by aligning socio-economic incentives, supporting practices tailored to local environmental conditions, accounting for permanence risks for carbon offsets, and ensuring the availability of suitable seedlings. |
| Keywords: | Agri-environmental policies, Agroforestry, Biodiversity conservation, Carbon offsetting, Sustainable land management |
| JEL: | Q15 Q18 Q23 Q57 O13 |
| Date: | 2026–08–14 |
| URL: | https://d.repec.org/n?u=RePEc:oec:agraaa:229-en |
| By: | Konrad Adler; Oliver Rehbein; Matthias Reiner; Jing Zeng |
| Abstract: | We propose measuring firms’ exposure to climate risk via the market. We build a theoretical foundation and construct empirical market-based greenness measures based on abnormal stock returns around UN climate conferences. Our measures cover around 36, 000 international firms, tenfold the existing measures. Market-based greenness is associated with lower present and future carbon emissions, and provides explanatory power distinct from existing climate risk measures. Market-based green firms are more likely to file green patents, have lower stock price volatility, and are financially more robust. At the country level, market-based greenness correlates with lower emission intensity and larger shares of renewable energy. |
| Keywords: | Climate change, greenness, green firms, climate risk |
| JEL: | G14 G32 G38 Q54 |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:bon:boncrc:crctr224_2025_768 |
| By: | Shiwang, Jinyu; Peng, Wei; Bistline, John E.; Farbes, Jamil; Huang, Xinyuan; Iyer, Gokul; Jenkins, Jesse; Knipping, Eladio; Mailloux, Nicholas; Mayfield, Erin |
| Abstract: | Transitioning to a net-zero emissions economy can provide air quality and health benefits. Yet it is still unclear how different low-carbon energy strategies influence the overall benefits and their distribution. Based on a multi-model analysis using three leading energy models for the U.S. (GCAM-USA, US-REGEN, and REPEAT), we demonstrate that a net-zero transition from now to 2050 yields robust nationwide reductions in ambient concentrations of fine particulate matter (PM2.5) and associated mortality. However, the health co-benefits achieved in the net-zero scenarios relative to business-as-usual baselines vary substantially across models and regions. These differences largely result from how mitigation efforts are allocated across sectors, especially the use of carbon dioxide removal technologies, which can relocate residual emissions across regions and, in some cases, increase local pollution levels. As pollution from non-energy activities such as wildfires continues to grow, minimizing energy-related emissions is critical to counteract potential increases in other sectors. |
| Date: | 2026–05–18 |
| URL: | https://d.repec.org/n?u=RePEc:osf:ecsarx:fcgw6_v1 |
| By: | Abeeb Olaniran (Department of Economics, University of Pretoria, Private Bag X20, Hatfield 0028, South Africa); Talita Greyling (Centre for Well-being, Artificial Intelligence and Social Impact (C.WAIS) and School of Economics, University of Johannesburg, Johannesburg, South Africa); Rangan Gupta (Department of Economics, University of Pretoria, Private Bag X20, Hatfield 0028, South Africa); Christian Pierdzioch (Department of Economics, Helmut Schmidt University, Hamburg, Germany) |
| Abstract: | The European Union (EU) is one of the largest contributors to global greenhouse gas (GHG) emissions and is committed to being the first economic bloc to achieve a net-zero emissions balance. We examine the attendant implications of the shortfall of these emissions through climate-related risks on national well-being and happiness of selected countries that contribute the largest of the EU GHG emissions. We find strong evidence of a persistent diminishing effect of climate shocks on happiness, with physical-related shocks causing more havoc than transition-related shocks. Exploring the non-linear dynamics of these relationships, we find asymmetric effects of positive versus negative climate-related shocks, with positive shocks worse than negative in some countries, but inverted in others across both risk measures. Our findings offer valuable insights for governments and policymakers seeking to promote a socially just transition to a sustainable economy by highlighting the role of climate-related insurance as a key component of climate mitigation and adaptation strategies. |
| Keywords: | Climate risks, National well-being, National happiness, European Union |
| JEL: | I31 O52 Q54 |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:pre:wpaper:202621 |
| By: | WANG, JIAXI |
| Abstract: | This article develops an analytical framework for understanding climate-related institutional strain in museum environmental management. Rather than treating museum climate pressure primarily as visible disaster, public communication, or individual climate anxiety, the study examines how climate uncertainty becomes legible through ordinary institutional routines: environmental monitoring, threshold checks, intervention logs, IPM activity, maintenance work, and professional accounts of control, tempo, and future stability. The study draws on four anonymized museum case prototypes, six interviews with museum professionals, environmental monitoring records, IPM logs, maintenance data, and a short questionnaire on perceived control, care/work tempo, and future sustainability. These materials are used interpretively, not as a clinical or psychometric measure of anxiety. Climate-anxiety literature is treated as a contextual lens, while the main object of analysis is institutional strain: the gap between current operational effectiveness and weakening confidence in long-term baseline recovery and sustainable care routines. The article argues that design-led analysis can make scattered institutional clues visible, comparable, and discussable without converting them into generalizable psychological outcomes. By tracing threshold drift, intervention density, compressed judgment windows, care rhythm, and perceived future stability, the framework shows how museums absorb, distribute, and reveal climate pressure through everyday care practices. The contribution is a methodological and interpretive account of how museum climate adaptation can be read through institutional care, operational rhythm, and the hidden tempo of environmental pressure. |
| Date: | 2026–07–09 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:cw6pr_v1 |
| By: | Renato Molina; Juan Carlos Villaseñor-Derbez; Juan Agar |
| Abstract: | Hurricanes routinely traverse water and land along the Southeastern United States, bringing with them hazardous weather conditions at sea, which presumably hinder fishing operations. Yet, work examining the impact of hurricanes on fisheries has mostly focused on supply chain analyses and post-disaster recovery, without paying attention to the first link in a long chain of events: how hazardous weather affects fisheries production. Here, we quantify the economic toll of hurricanes on commercial fisheries in the Southeastern United States. We construct a novel, high-frequency county-level panel linking daily commercial landings and revenue to hurricane exposure from 2005 to 2022. Our results indicate that county-level wind exposure reduces daily commercial landings and revenue by up to 60 and 70% under major-hurricane-force winds. Monetizing responses indicate cumulative revenue losses of $162.4 million over 2005--2022 due to hurricanes. These findings underscore the persistent vulnerability of coastal fisheries to extreme weather and provide an empirical foundation for targeted disaster preparedness and climate adaptation policy. |
| Keywords: | extreme weather, environmental hazards, seafood, food production |
| JEL: | Q22 Q51 C54 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12871 |
| By: | Yusuf, Alia; Utamawati, Herlina |
| Abstract: | Indonesia’s downstream integration into global nickel supply chains has had significant economic benefits, strengthening the country’s position in the global energy transition and increasing the Government’s fiscal revenues. At the same time, nickel-producing regions face heightened exposure to climate-related and environmental risks, including flooding, ecosystem degradation and pollution. These dynamics make growing demands of subnational governments, which play a central role in disaster response and climate adaptation. Best practices from other commodity-driven economies offer some useful policy lessons for Indonesia, ranging from stakeholder coordination platforms to revenue stabilisation funds. |
| JEL: | R14 J01 N0 |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:140368 |
| By: | Benfica, Rui; Davis, Kristin E.; Azzarri, Carlo; Boukaka, Sedi Anne; Geoffrey, Baragu; Fadda, Carlo |
| Abstract: | Agrifood systems (AFS) in Colombia and Peru generate substantial economic value but also impose significant environmental and social externalities that remain unpriced and largely invisible in policy and market decisions. Using the Global Impact Database (GID) and a True Cost Accounting (TCA) framework, this paper quantifies the hidden costs embedded in 19 AFS sectors, with a focus on seven major crop sectors. As one of the first cross-country applications of GID data in Latin America, the analysis offers a harmonized and comprehensive assessment of the true costs of food production, processing, and distribution. Results show that externalities are equivalent to 12 percent of AFS output in Colombia and 13 percent in Peru—a substantial burden that is not captured by conventional economic indicators. Environmental externalities dominate in both countries, driven primarily by land occupation, climate change, air pollution, and use of scarce water. Social externalities—especially underpayment, child labor, and gender wage gaps—are smaller in aggregate but become markedly more significant within crop sectors, as labor intensity and informality characterize production systems. Livestock, dairy, and bovine meat products consistently emerge as the most externality‑intensive sectors, while cereals, rice, sugarcane, oilseeds, and fruits and vegetables exhibit comparatively lower externality costs. Value‑chain decomposition shows that most externalities originate at the production stage (at farm level). These findings highlight several clear leverage points for targeted policy and investment: reducing environmental pressures in livestock systems, improving labor conditions in crop sectors, and integrating TCA metrics into national planning and sustainability strategies. Making the hidden costs visible is essential for advancing more sustainable, equitable, inclusive, and resilient food systems in Colombia and Peru. |
| Keywords: | agrifood systems; environmental impact; socioeconomic impact; value chains; true cost accounting; Colombia; Peru; Latin America; South America |
| Date: | 2026–07–15 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:ifprid:183786 |
| By: | Ling, Kai; Won, Sunjae; Sawadgo, Wendiam |
| Abstract: | This study investigates the dynamic impact of multi-year weather histories on the adoption of conservation practices in Iowa, Illinois, and Indiana. Using county-level panel data from the Census of Agriculture (2012, 2017, 2022) and monthly weather records from 2007 to 2022, we employ a two-way fixed effects distributed lag model (TWFE-DLM) and a modified Almon-Ridge (AR) estimator. This modified estimator allows us to recover smooth, interpretable lag profiles while mitigating the multicollinearity inherent in multi-ysear climate variables. Our results demonstrate that weather shocks exert persistent effects on adoption for up to five years. Notably, we find that variations in precipitation during the crop planting season trigger distinctly different responses: historically abundant spring rainfall consistently fosters the adoption of conservation tillage techniques, yet it is negatively correlated with the adoption of cover cropping. These findings underscore that climate adaptation is a path dependent process, one in which short-term operational constraints often precipitate long-term shifts in behavioral patterns. Consequently, effective agricultural conservation policies must move beyond purely static incentive mechanisms to fully account for these seasonally asymmetric effects, striving instead to support flexible and forward-looking long-term management strategies. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404482 |
| By: | Guimbeau, Amanda (University of Sherbrooke); Ji, James (University of Guelph); Menon, Nidhiya (Brandeis University); Witoelar, Firman (Australian National University) |
| Abstract: | Mangroves provide vital ecosystem services, including fisheries support, carbon sequestration, and natural protection against coastal erosion, but their health consequences are less well understood. We study their impacts on mental health and cognitive functioning in Indonesia, which has the most extensive and biodiverse mangroves in the world. Decades of deforestation, fueled by climate pressures, oil palm expansion, and aquaculture, have led to widespread mangrove loss in the country, disproportionately affecting vulnerable coastal communities. By merging high-resolution satellite data on coastal land use change with individual-level panel data from the Indonesian Family Life Survey (IFLS), we find that a one-standard-deviation increase in local mangrove cover reduces the likelihood of clinical depression by 4.5 percentage points. These effects operate through reduced flood exposure, higher household income, and improved food consumption. We also find that restoration potential matters more than blue carbon potential, cash transfers, or social capital in shaping the mangrove-mental health relationship. Our results show that mangrove conservation and restoration can generate important local human capital and welfare benefits. |
| Keywords: | Mangroves, mental health, depression, CESD-10, cognitive ability, ecosystem, aquaculture, restoration, conservation |
| JEL: | Q57 Q50 O1 O13 |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18818 |
| By: | Feiyu Cai; Jing Qiu; Yi Yang; Chenxi Zhang; Xinlei Wang; Baichuan Liu; Junhua Zhao |
| Abstract: | As a major contributor to carbon emissions, the decarbonization of power systems has garnered significant societal attention. Nodal carbon intensity (NCI), a critical factor in carbon-oriented demand response, has traditionally been determined through ex-post calculations. However, this ex-post approach introduces latency in low-carbon dispatch. To address this, this paper presents a proactive ex-ante spatial-temporal carbon response framework. At its core, we develop a novel deep learning-based hierarchical design, enhanced by a dual-stage attention mechanism and a large language model (LLM)-based multi-agent cooperation system, to accurately forecast day-ahead NCI. This design effectively mitigates the impact of renewable energy uncertainty and enhances predictive resilience. On the demand side, the framework proposes a spatial-temporal carbon scheduling model that integrates geographically dispatchable loads (GDLs), including mobile energy storage systems (MESSs) and distributed data centers (DDCs). Leveraging high-accuracy day-ahead NCI predictions, the framework can effectively reduce system emissions by quickly responding to carbon intensity fluctuations. The proposed framework is tested on the modified IEEE 33-bus system. According to the simulation results, the impacts of proposed framework on dispatching latency and emission outcomes are analyzed. The results demonstrate that under a one-hour reduction in carbon scheduling latency, the proposed model and methodology can achieve over 30% emission reduction. This research breaks through the limitations of passive carbon accounting, advancing toward proactive carbon management. It offers an intelligent solution that accelerates the transition to cleaner power systems while directly supporting sustainable production goals. |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2607.26560 |
| By: | Mireille Chiroleu-Assouline; Michel Moreaux |
| Abstract: | We study the optimal use of energy from carbon emissions in an economy drawing useful energy from coal, a standard renewable, and methanol synthesised by combining captured CO2 with an otherwise inexploitable non-standard renewable, subject to a ceiling on atmospheric carbon. Captured CO2 carries a dual shadow value - atmospheric relief and productive feedstock - and we show that a credible ceiling is necessary and sufficient to activate the non-standard renewable: the ceiling, not any output subsidy, prices the feedstock that makes synthesis competitive. The optimal sequence departs from least-cost-first ordering, with coal and methanol used concurrently, and the pre-ceiling energy price may follow a U-shaped path driven by a rising shadow value rather than falling costs. A uniform Pigouvian carbon tax does not decentralise the optimum; a supplementary storage subsidy is required, and the net capture instrument is a subsidy or tax according to whether emission reduction dominates the coal rebound. |
| Keywords: | global warming, carbon capture and use, synthetic fuels, non-renewable resources, renewable resources |
| JEL: | Q30 Q35 Q42 Q54 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12860 |
| By: | Liu, Mengyu; Jin, Yana; Hu, Wuyang |
| Abstract: | This paper studies how information and framing shape consumers’ preferences of sustainability attributes in China’s pork market, and whether information-induced preference shifts persist over time. We implement a discrete choice experiment with pork consumers in Beijing and Shanghai (N = 887), varying price and three attributes, carbon footprint, water pollution, and animal welfare. The experiment embeds three randomized interventions designed to map onto distinct behavioral channels: child-related framing, health warning-style tips displayed within choice sets, and a two-stage design that introduces a time gap between information exposure and the choice tasks. Mixed logit estimates show targeted preference shifts consistent with these channels. Child-related framing reduces price sensitivity and strengthens aversion to high water pollution. Health tips increase aversion to low animal welfare, with effects concentrated among respondents with weaker baseline healthy-eating habits. By contrast, carbon-footprint valuations decay as the information-to-choice gap lengthens, suggesting limited durability for more abstract attributes. WTP estimates imply economically meaningful premia for sustainability improvements, particularly for reducing water pollution. Overall, the results provide experimentally identified evidence on when information interventions shift multi-attribute sustainability valuations, for whom, and how durable those shifts are, with implications for the timing and design of sustainability labeling and nudging policies. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404463 |
| By: | van der Ploeg, Frederick; Rezai, Armon; Tovar, Miguel |
| Abstract: | We analyse carbon taxes, lump-sum climate dividends, and changes to the level and progressivity of the income tax system that optimally trade off carbon emissions, equity, and efficient raising of public revenue while preserving budgetary neutrality and not using individualized lump-sum transfers. Such “third-best†policies include a carbon tax that exceeds the Pigouvian level and recycling of all carbon tax revenue via climate dividends for high (and our preferred) degrees of inequality aversion, even if this implies higher income taxes to meet existing revenue requirements. The carbon tax, climate dividends, and the progressivity of the income tax rise with the degree of inequality aversion. Our results are derived from a micro simulation model estimated from German data, which includes heterogenous households, an Exact Affine Stone Index demand system, and endogenous labour supply. We decompose the welfare effects of policy into emissions, equity, and efficiency components for different degrees of inequality aversion and climate damages. |
| JEL: | D12 D31 D62 D63 H23 J22 Q5 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19612 |
| By: | Selvaraju, Sangeeth; Kumar, Parth |
| Abstract: | Few industrial materials are as crucial to the low-carbon transition in India as aluminium, which is essential in the manufacture of solar panels, and electric vehicle battery housings and transmission cables. But producing primary aluminium creates emissions of around 18–24 tonnes of carbon dioxide-equivalent (tCO₂e) in India, making it one of the most emission-intensive industrial processes in the world. The Indian Carbon Credit Trading Scheme (CCTS) aims to support the country’s climate commitments with a focus on decarbonising hard-to-abate sectors, including aluminium. This policy brief explores the reasons for the high emissions intensity of Indian aluminium, and the role of the CCTS in decarbonising the sector. It makes recommendations for ensuring that the CCTS delivers meaningful decarbonisation. |
| JEL: | R14 J01 N0 |
| Date: | 2026–08–06 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:140335 |
| By: | Aron-Dine, Shifrah |
| Abstract: | How do households form expectations about the risk of future natural disasters, and how do these expectations translate into household adaptation choices? A stylized model of natural disasters yields predictions that higher perceived risk should increase precautionary savings, protective investments, insurance take-up, and out-migration. Using survey data from Puerto Rico collected after Hurricane Maria, I find that households are quite pessimistic about future hurricane risk. However, adaptation responses are muted, and the relationship between disaster expectations and adaptation decisions is limited. These patterns raise important puzzles about household responses to natural disaster risk. |
| Keywords: | 38 Economics (for-2020), 3801 Applied Economics (for-2020), Behavioral and Social Science (rcdc), Basic Behavioral and Social Science (rcdc), Climate-Related Exposures and Conditions (rcdc), Clinical Research (rcdc), 13 Climate Action (sdg) |
| Date: | 2026–05–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:agrebk:qt0r7936zt |
| By: | Galanis, Giorgos; Ricchiuti, Giorgio; Tippet, Ben |
| Abstract: | This paper develops a diagnostic-expectations theory of climate focusing events. A disaster is diagnostic evidence about a latent hazard state, so voters overweight it when forming beliefs about future climate risk. This raises the perceived return to mitigation. But the same disaster destroys current output and raises reconstruction needs, tightening the resource constraint under which policy is produced. The paper’s central claim is not that focusing events fail to focus attention; rather, attention may fail to translate into policy. In a political-economy model with diagnostic expectations and risk-sensitive (Hansen–Sargent) preferences, we decompose the disaster response of mitigation into a diagnostic focusing channel and a resource-defocusing channel. Mitigation falls when the latter dominates. The model also yields a non-monotone role for disaster severity: more severe shocks raise both the value of mitigation and the resource squeeze, but in the upper tail the resource squeeze can compound while the marginal value of further probability reduction saturates. Risk-sensitive preferences generate this saturation effect: when perceived disaster probability is already high, stronger diagnosticity need not always increase mitigation. Evidence from the 1990 Western European windstorm cluster illustrates the mechanism. |
| JEL: | D72 D91 Q54 Q58 |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:140244 |
| By: | Bogachev, Anton; Venmans, Frank |
| Abstract: | We assess the effect of the EU Emission Trading Scheme (ETS) on emission reductions between 2008 and 2023. To do so, we compare emissions of ETS installations with non-ETS installations of similar size in the same sector and country. We use data in the UK, the Netherlands, France and Norway, because these countries require companies to report CO2 emissions at low levels, which are below the inclusion criteria of the ETS. We find that the ETS has reduced industrial emissions by approximately 12% in the second phase (2008-2012), by 18% in the third phase (2013-2020) and by 41% in the fourth phase (2021-2023). To obtain strong internal validity, our sample focusses on small companies. However, we find that the larger installations in our sample have made slightly larger emission reductions than the smaller companies. |
| Keywords: | EU Emissions Trading Scheme;carbon pricing;cap and trade;difference-in-differences;climate policy uncertainty |
| JEL: | Q58 Q54 H23 |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:138269 |
| By: | Dietrich, Alexander; Leitenbacher, Lukas; Müller, Gernot |
| Abstract: | As part of the green transition, the European cap-and-trade scheme for CO2 emissions will be extended to cover consumer durables. We propose a New Keynesian model that features both, "brown" and "green" durable goods and show that if monetary policy follows a business-as-usual approach, the green transition will be inflationary, with headline inflation increasing by about 20 basis points over a four-year transition period. Monetary policy faces a tradeoff: pursuing a strict inflation target slows the green transition because green durable purchases are especially sensitive to interest rates. We quantify this tradeoff as we contrast headline and core-inflation targeting. |
| Keywords: | Green transition |
| JEL: | E32 E52 E62 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19764 |
| By: | Bauer, Michael; Offner, Eric; Rudebusch, Glenn |
| Abstract: | Policymakers and researchers worry that the low-carbon transition may be inadvertently delayed by higher global interest rates. To examine whether green investment is especially sensitive to interest rate increases, we consider the effect of unanticipated monetary policy changes on the equity prices of green and brown European firms. We find that brown firms, measured in terms of carbon emission levels or intensities, are more negatively affected than green firms by tighter monetary policy. This heterogeneity is robust to different monetary policy surprises, emission measures, econometric methods, and sample periods, and it is not explained by other firm characteristics. This evidence suggests that higher interest rates may not skew investment away from a sustainable transition. |
| Keywords: | ESG |
| JEL: | E52 G14 Q54 Q58 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19754 |
| By: | Yu, Fengrongyin; Zhou, Mi; Huang, Li; Huang, Qihan; Peng, Xinyao |
| Abstract: | While existing research generally views urbanization as a threat to biodiversity, this study presents contrary findings based on China’s quasi-natural experiment in new-type urbanization. Utilizing county-level panel data and bird observation records from China between 2012 and 2022, we employ a staggered difference-in-differences approach for causal identification. The results indicate that the new-type urbanization policy has increased the average number of bird species in pilot areas by 4.691. This effect is attributed to overall improvements in habitat quality, specifically through enhanced regional ecological environmental conditions, expanded green infrastructure, and optimized industrial spatial layouts. The impact of the policy is most significant in regions with lower baseline biodiversity, in the northwestern segment of the Hu Huanyong Line with smaller population density, and in municipal districts. Further analysis reveals that while bird diversity exhibits spatial dependence across counties, the effects of the policy are largely confined to the pilot areas, without significant spatial spillover. This study substantiates the ecologica2 benefits of people-centered urbanization and provides empirical evidence and policy 43 insights from China for biodiversity conservation in the context of global 44 urbanization. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404497 |
| By: | Kilian, Lena; Owen, Anne; Hoekstra, Rutger |
| Abstract: | The UK’s Multi-Regional Input-Output database (UKMRIO) is used to calculate the UK’s consumption-based greenhouse gas (GHG) emissions as well as a number of other environmental and economic indicators. The UKMRIO is constructed from National Accounts from the UK’s Office for National Statistics, as well as from international trade data from a global Multi-Regional Input-Output (GMRIO) databases. As various GMRIOs exist, this research tests the potential use of four current GMRIO databases in the UKMRIO model: EXIOBASE, GLORIA, the ICIO, and FIGARO. We find that the UK’s estimated domestic emissions are highly similar across the four GMRIOs. However, imported emissions show more variance, with ICIO estimating the highest imported emissions for the UK. Differences in findings further appear to be impacted by the COVID-19 pandemic, with EXIOBASE reporting higher emission increases for 2020 and 2021 than GLORIA and FIGARO. This is likely due to methodological differences in database construction and source data. As each GMRIO has its own set of strengths and limitation, we evaluate their suitability for the UKMRIO using the GMRIO’s source data, annual coverage, regional coverage, industry coverage, extension variables, and ease of use. We conclude that using a combination of EXIOBASE (for the years 2001-2014) and FIGARO (2015-2021) provides the best trade date for the UKMRIO model, based on these criteria. |
| Keywords: | Multi-regional input-output analysis; environmental accounting; international trade; carbon footprint |
| JEL: | Q56 Q57 |
| Date: | 2025–08–21 |
| URL: | https://d.repec.org/n?u=RePEc:eoe:escoet:escoe-tr-29 |
| By: | Puri, Roshan; Levers, Lucia |
| Abstract: | California’s Sustainable Groundwater Management Act (SGMA) requires groundwater basins to achieve sustainable use by 2040, a transition projected to retire 500, 000 to 1 million acres of irrigated farmland. Virtually all of this retired land will be in California’s great Central Valley, an agricultural powerhouse and part of the Pacific Flyway, a major avian migration route. In California, over 95% of native wetlands and 60% of grasslands and oak savannahs have been lost, making SGMA-driven land retirement a rare opportunity to restore wildlife habitat at scale. Realizing this opportunity requires substantial public investment, yet the public value of habitat restoration on retired farmland remains unquantified, as well as how the public sees the difference between wetland and dryland habitats, both for the varying species they support but also their co-benefits such as water use and groundwater recharge. We estimate willingness to pay (WTP) of California households for converting SGMA-retired farmland to permanent wetland and dryland habitat using a contingent valuation (CV) approach. We find mean WTP of approximately $50 to $67 per household for wetland restoration and $49 to $61 for dryland restoration, aggregating conservatively to one-time statewide benefits of $563 million to $773 million depending on program type, estimation approach, and distributional assumptions. These results demonstrate broad public support for habitat restoration on SGMA-retired farmland and provide an empirical basis for evaluating and allocating public investment across competing restoration alternatives. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404452 |
| By: | van den Bremer, Ton; Hambel, Christoph; van der Ploeg, Frederick |
| Abstract: | An easy-to-interpret rule for the optimal risk-adjusted social cost of carbon is derived using perturbation analysis. This rule internalises the adverse effects of global warming on the risk of recurring climate-related disasters and the risk of irreversible climate tipping points as well as the usual adverse effect on total factor productivity. It approximates the true numerical optimum well, especially if the small parameters (i.e., the share of damages in GDP, the sensitivity of the risk of disasters to temperature and the risk of climate tipping) are small enough and the discount rates corrected for growth and risk is not too small. The rule is also accurate if applied to models with a different supply side, e.g., with ongoing technical progress in fossil-fuel production or multiple economic sectors. |
| JEL: | H21 Q51 Q5 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19645 |
| By: | Bruns, Daniel (Leibniz University of Hannover); Thomsen, Stephan (Leibniz University of Hannover) |
| Abstract: | How do residential real estate markets value large-scale climate policies? We study how Germany’s coal phase-out affects residential property values near decommissioned power plants. Combining detailed residential property listing data from 2007 to 2023 with the staggered timing of plant closures, we estimate dynamic spatial DiD models. Nearby residential property values decline by 8.2%, implying aggregate homeowner wealth losses of approximately €1.9 billion. To distinguish economic from environmental adjustment, we examine changes in employment, population, purchasing power, and air pollution. Declines in population, employment and purchasing power coincide with falling residential property values, whereas improvements in air quality do not seem to offset these losses. Our findings show that residential real estate markets primarily capitalize the deterioration of local economic fundamentals rather than improvements in environmental quality, implying that climate policy generates substantial localized household wealth effects through residential real estate markets – a distributional channel that complements conventional evaluations focused on aggregate environmental benefits and macroeconomic adjustment. |
| Keywords: | asset pricing, housing prices, climate policy, wealth effects, real estate |
| JEL: | Q40 Q48 R12 R31 |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18865 |
| By: | Poonguzhali R. P. (Pre-doctoral fellow, Indian Institute of Management, Bangalore); Brinda Viswanathan (Professor, Madras School of Economics, Chennai, India.); K.S. Kavi Kumar (Professor, Madras School of Economics, Chennai, India.) |
| Abstract: | Changing climatic conditions are likely to increase the heat stress and the corresponding risk of vulnerable population in society. This study investigates the impact of heat stress on rural women in India aged 15-35, using the Intergovernmental Panel on Climate Change (IPCC) Assessment Report 5 (AR5) risk assessment framework. The study uses Universal Thermal Climate Index (UTCI) data sourced from the Copernicus Climate Change Service from 1994 to 2024 to assess heat stress, and demographic and social indicators from National Family Health Survey (NFHS) 2015–2016 for constructing the risk index. By integrating environmental and demographic indicators for rural women to analyse the impact of heat stress, the study reveals regional disparities in heat stress risk. The results suggest that while Jharkhand, Madhya Pradesh and Bihar rank highest in terms of heat stress risk, Sikkim and Himachal Pradesh exhibit low risk. Southern states like Kerala and Tamil Nadu despite facing high heat stress, exhibit relatively lower heat stress risk due to better adaptive capacity. These results highlight the need for region-specific targeted policy interventions to mitigate the effects of heat stress among rural Indian women. |
| Keywords: | Universal Thermal Climate Index, Heat Stress, Risk Assessment, India, Women |
| JEL: | Q54 I15 J16 O13 R11 |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:mad:wpaper:2026-303 |
| By: | Braide, Tamunotonye M.; Thomas, Timothy S.; Robertson, Richard D. |
| Abstract: | This study develops a crop yield emulator as a computationally efficient alternative to the DSSAT process-based model, enabling fast, large-scale assessments of how temperature, rainfall, CO2, and nitrogen influence crop yields. Implemented using fixed-effects polynomial regression in R, the emulator was trained on DSSAT outputs and validated across seven globally important crops, maize, wheat (spring and winter), rice (indica and japonica), soybeans, sorghum, groundnuts, and potatoes. It showed high predictive accuracy (R2 > 0.90) for most crops, especially spring wheat, groundnut, and potato, and performed reliably under climate scenarios such as RCP7.0. The emulator captured key crop-specific responses, such as maize’s sensitivity to heat and nonlinear yield responses to nitrogen inputs. While its performance is slightly lower for maize and Indica rice compared to other crops, it remains a scalable and cost-effective tool for climate scenario analysis. This tool offers valuable support for agricultural decision-making and climate adaptation planning by enabling rapid, data-driven insights into yield outcomes under future conditions. |
| Keywords: | agricultural productivity; climate change; crop yield; yield forecasting; nitrogen; carbon dioxide; regression analysis |
| Date: | 2026–07–21 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:ifprwp:183869 |
| By: | Rezai, Armon; Ruch, Franz; Choudhary, Rishabh; Francois, John Nana Darko |
| Abstract: | The impacts of climate change on developing economies are becoming increasingly severe, creating challenges for risk management and requiring enhanced levels of resilience. This paper explores how to mitigate the effects of such climate shocks on developing economies, placing a particular focus on the role fiscal policy in creating and strengthening an economy’s resilience. Using data on natural disasters, the analysis shows that economies with constrained fiscal space experience more pronounced negative effects. In an application to a small open economy, the paper tests the presence of the non-linearity of short- and long-run disaster impacts in the World Bank's macroeconomic and fiscal model and illustrates the importance of fiscal policy in mitigating shocks. |
| Keywords: | Fiscal policy; Economic resilience; Natural disasters |
| JEL: | H2 H12 O44 O47 Q54 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19704 |
| By: | Sahuc, Jean-Guillaume; Smets, Frank; Vermandel, Gauthier |
| Abstract: | Climate change confronts central banks with two inflationary challenges: climateflation and greenflation. We investigate their implications for monetary policy by developing and estimating a tractable nonlinear New Keynesian Climate model featuring climate damages and mitigation policies for the global economy. We find that mitigation policies aligned with the Paris Agreement result in higher, more persistent inflation than laissez-faire policies. Central banks can attenuate this inflationary pressure by accounting for the rising natural rate of interest, at the cost of lower GDP during the transition. This short-term trade-off ensures long-term macroeconomic stability resulting from a net-zero emission world. |
| Keywords: | Climate change; Inflation; Monetary policy; Stochastic growth model; E-DSGE model |
| JEL: | E32 E52 Q50 Q54 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19745 |
| By: | Hennicke, Peter; Dittrich, Monika; Dierks, Janina |
| Abstract: | This paper focuses on the macroeconomic implications and the critique of a too narrowly defined category of economic competitiveness. Typically, the short-, medium-, or long-term goals that are to be achieved through competitiveness are not further addressed, let alone potentially conflicts of objectives for example, economic competitiveness in relation to increased climate protection or fostering the transformation to a circular economy being analysed in a sufficient way. Therefore, this paper aims not only to critically examine the seemingly unambiguous target of "increasing competitiveness" in relation to different socieatal goals and perspectives, but also to propose a broader concept of "green" and systemic competitiveness for use in scientific policy advice. It becomes clear that competitiveness is not an end in itself, but rather a means to achieve the medium- and long-term goals of a circular, decarbonised economy and a well-being society. Against this backdrop a new look into the relation between green competitiveness and economic growth is also necessary. Ambitious climate mitigation, circular economy and dematerialisation strategies foster the rapid growth of GreenTech sectors and at the same time the degrowth of fossil, resource intensive or risky sectors. To what extent this politically driven economic structural change towards net-zero emissions and a circular economy contributes to overall positive and more sustainable pattern of GDP growth and to an (absolute) decoupling of GDP from resource consumption remains an open question. Considering sufficiency policies in conjunction with the predominantly technical strategies of efficiency and sufficiency (renewable energies) as well as with circular economy strategies makes it, according to studies, easier to achieve climate neutrality and risk minimisation through decoupling. |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:wuppap:342478 |
| By: | Cai, Yetian; Weng, Weizhe |
| Abstract: | This paper examines the unintended environmental consequences of managed agricultural trade by studying the 2014 U.S.–Mexico Sugar Suspension Agreement. The agreement incentivized sugarcane expansion and fertilizer runoff in sugarcane producing regions. Using panel data on surface water quality from monitoring stations across Louisiana and neighboring state – Mississippi, from 2008/09 to 2019/20, we apply a spatial difference-in-differences framework to estimate the policy’s impact on downstream nutrient pollution. Treatment status is defined based on historical sugarcane cultivation within upstream catchments of monitoring sites, exploiting the hydrological connectivity between sugarcane-growing areas and downstream water quality monitoring stations to isolate the causal effect of the trade shock from confounding watershed characteristics. Results show that after 2014, nitrate-nitrogen concentrations increased by about 1.171 mg/L in waters downstream of sugarcane areas relative to unaffected sites following trade shock. This represents a 79.5 percent increase compared to the pre-treatment average, with the effect emerging within one to two years of the policy and persisting for nearly three years. Robustness checks with alternative model specification and restricted sample yield consistent results. These findings highlight that managed trade policies can generate significant and lasting environmental externalities, with implications for the joint design of trade and environmental regulation. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404458 |
| By: | Gianinazzi, Virginia; Girard, Victoire; Lehlali, Mehdi; Prado, Melissa |
| Abstract: | This paper examines the relationship between socially responsible institutional ownership and the environmental outcomes of multinational firms. We combine satellite-based measures of vegetation health, inversely correlated with industrial pollution, with institutional ownership data for 52, 806 production facilities operated by 911 publicly listed multinationals across 124 countries. Exploiting within-firm variation over time, we find that increases in responsible ownership improve local environmental conditions. Quasi-experimental evidence from asset manager mergers confirms these findings. The effects are heterogeneous: environmental conditions improve around OECD-based facilities but deteriorate around non-OECD operations of the same firms, especially when ownership concentrates among high-engagement investors. |
| Keywords: | Social responsible investing; Institutional investors; Multinational enterprises |
| JEL: | F23 G23 O33 Q56 Q58 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19611 |
| By: | Tatjana Dahlhaus; Barbara Sadaba |
| Abstract: | In this paper, we study the effects of climate change on income inequality in the United States. To do so, we characterize climate change in the US and introduce the climate-inequality vector autoregression (VAR). Constructing a data set of daily temperatures for the contiguous US from 1920–2019, we document that climate change is more than a phenomenon that increases mean temperatures since the whole temperature distribution has shifted asymmetrically, with temperatures in lower percentiles increasing at a faster rate than those in higher percentiles for most US states. Using the climate-inequality VAR, we estimate the effects of climate change on income inequality by identifying shocks to temperature distribution characteristics (such as mean and percentiles) via a combination of zero and sign restrictions. We find that the effects of climate change on income inequality not only vary across temperature distribution characteristics but also vary widely across US states. We find both negative and positive impacts on within-state inequality across the US. There is no strong link between a state’s climate or per capita income and the within-state effects on income inequality once we consider effects due to changes across the several temperature percentiles. |
| Keywords: | Models and tools, Econometric, statistical and computational methods, Structural challenges, Climate change |
| JEL: | C11 C32 D63 Q54 |
| Date: | 2026–05 |
| URL: | https://d.repec.org/n?u=RePEc:bca:bocawp:26-16 |
| By: | Harrison, Eleanor; Badole, Sachin; Heintzelman, Martin |
| Abstract: | Perceived contamination of drinking water resources from per-and polyfluoroalkyl substances (PFAS) can act as an environmental disamenity for homeowners. This study evaluates the impact of nearby PFAS contamination of drinking water resources on property values in the entire state of Delaware, which has recorded instances of PFAS contamination in water resources since 2009. We build upon previous work to define contamination and knowledge of contamination based on classifications of the level of potential harm to human health, and the timing of water testing relative to the timing of home transactions. Our spatial analysis utilizes over 400 unique PFAS detections in surface and groundwater from 2009 to 2024, and statewide residential transactions that occurred from 2005 to 2025. We employ a hedonic difference-in-differences framework that uses a heterogeneous household-level definition of knowledge of and exposure to nearby contamination as an exogenous shock to the housing market, as well as spatial and temporal fixed effects. Results using this approach demonstrate no significant effect of nearby contamination on property values on average. However, in some specifications where we disaggregate treatment effects by treatment year, we find statistically significant declines in property values for tests conducted in 2022. Our findings contribute to the ongoing discussion of PFAS regulation efforts for drinking water resources. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404485 |
| By: | Long, Yanxu; Polasky, Stephen; Iossifov, Dalia |
| Abstract: | We estimate whether federal hazardous-fuel treatments prevent wildfire disasters at the wildland-urban interface (WUI). We combine U.S. Forest Service fuel-treatment polygons with fire perimeters, ignition points, WUI polygons, and LANDFIRE topography. A nearest-point difference-in-differences imputation design compares WUI polygons threatened by the same fire and lying in the same ignition direction, using distance from ignition to order treated and untreated observations. In 92, 720 fire-WUI observations from 601 fires, polygons whose nearest path to ignition intersects a completed prior-five-year treatment are 11.61 percentage points less likely to burn. Adding wind, elevation, PRISM climate, road, fuel, slope, and aspect controls gives an estimate of 9.56 percentage points. Secondary outcomes show lower WUI burn share, fewer burned acres, and fewer housing units in burned polygons. Effects are largest in intermix WUI, while interface effects are weaker and the burned-acres interface effect is less stable. The treatment-type split shows stronger protection from prescribed-fire-based treatment paths than mechanical treatment paths across outcomes, with both directions negative. All evidence indicates that federal hazardous-fuel treatments alter fire behavior and reduce realized wildfire disasters in the WUI when a wildfire threat is realized. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404442 |
| By: | Paul, Laura; Dobis, Elizabeth |
| Abstract: | We present an updated Natural Amenities Scale that modernizes and expands the foundational 1999 index developed by the USDA Economic Research Service. Natural amenities—features such as climate, land cover, water resources, and terrain—continue to shape residential preferences, migration patterns, and regional development. Substantial advances in environmental data, along with shifting policy and demographic contexts, necessitate a revised scale that reflects contemporary conditions and supports modern research applications. The updated index incorporates high-resolution climate, land-cover, and terrain data from 1990–2020, emphasizes scientifically grounded thresholds of climatic comfort, and includes new measures such as forest cover and refined water-area calculations. It expands geographic coverage to all U.S. counties and census tracts, addressing past limitations related to boundary definitions and incomplete spatial coverage. Using a transparent additive framework with min-max rescaling, the scale preserves interpretability while improving accuracy, spatial detail, and conceptual grounding. This report documents the methodological decisions behind the updated scale, including variable selection, data processing, and index construction. It also outlines key differences from the 1999 edition and discusses implications for research on migration, economic development, environmental amenities, and community well-being. The resulting dataset will be released as a publicly available ERS data product at the county level. The updated scale is designed for reproducibility and future maintenance as environmental data and policy needs continue to evolve. |
| Keywords: | Community/Rural/Urban Development |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404756 |
| By: | Bao, Jiaren; Da, Yabin |
| Abstract: | Air pollution imposes large and multi-dimensional social costs, yet its effect on criminal behavior—and the channel through which it operates—remains unsettled, in part because credible identification is difficult; existing instruments tie wind variation to a fixed pollution source or rely on satellite plume presence without modeling transport. We estimate the causal effect of fine particulate pollution (PM2.5) on crime across all 58 California counties from 2006 to 2020, instrumenting monitor-based PM2.5 with a novel downwind smoke-exposure measure that transports each NOAA Hazard Mapping System smoke plume along the observed wind field over its own footprint—an instrument whose pollution source location varies from day to day as fires ignite and extinguish. The instrument is strong, with each additional downwind day raising monthly mean PM2.5 by about 0.26 μg/m3 (first-stage Wald F ≈ 45). A 1 μg/m3 increase in monthly mean PM2.5 raises violent crime by roughly 1.3% and motor-vehicle theft by roughly 1.4%, with the violent-crime effect concentrated in homicide and aggravated assault and no detectable effect on robbery, larceny, burglary, or total property crime. The pattern is robust to the pollution measure (wildfire-attributable PM2.5), the outcome scale (rates per 100, 000), and the instrument geometry. A countylevel heterogeneity analysis finds the violent-crime effect homogeneous across demographic and economic characteristics—consistent with an acute physiological channel rather than a socioeconomic one—while the most severe harms fall disproportionately on more urban, younger, and more-minority counties. These findings identify a previously unvalued externality of wildfire smoke—an increasingly climate-driven pollution shock—and strengthen the case for smoke mitigation. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404441 |
| By: | ~, Imelda; Abatayo, Anna Lou; Resusodarmo, Budy |
| Abstract: | The timing of payment can enhance salience, making customers more price-responsive when paying before consumption rather than after. This study examines Indonesia's nationwide switch to prepaid electricity metering, impacting over 40 million households. We find that prepaid metering users are twice as price-elastic as postpaid users. We also find a positive willingness to pay for prepaid metering, suggesting consumer welfare gains. As prices rise, prepaid metering reduces excess burden by 1.5% and CO2 emissions by nearly 6%. These findings suggest prepaid meters can support climate policy goals by promoting energy conservation without imposing significant burdens on consumers. |
| Keywords: | prepayment |
| JEL: | Q41 Q48 I30 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19778 |
| By: | Jabri Nada (Université Hassan 1er [Settat]); Hanine Sanae (Université Hassan 1er [Settat]) |
| Abstract: | Abstract In a global context characterized by recurrent ecological and economic crises, the blue economy stands out as a strategic lever for developing new models of sustainable and resilient growth. Innovation lies at the heart of this transformation, mobilizing maritime ecosystems that integrate technological, social, territorial, and environmental challenges. This study provides a critical and theoretical international literature review of the innovations implemented within marine ecosystems and tested through the evolution of the blue economy via a qualitative, critical, and synthetic methodological approach (theoretical and thematic analysis). The objectives are threefold: (1) to provide a state of the art of existing knowledge on the link between "innovation and sustainability" within the blue economy as a resilient ecosystem; (2) to identify entrepreneurial resilience factors in coastal environments; and (3) to propose a conceptual model explaining the relationship between these key concepts. This review helps fill a theoretical gap concerning the interactions among ecosystems, innovation, and resilience, while opening new research and policy avenues to support the economic transitions of coastal zones. Keywords: Blue Economy; Sustainable Innovation; Resilience; Ecosystems; Sustainability |
| Keywords: | Blue Economy Sustainable Innovation Resilience Ecosystems Sustainability, Blue Economy, Sustainable Innovation, Resilience, Ecosystems, Sustainability, African Scientific Journal |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05626904 |
| By: | Ekins, Paul; Ferrini, Silvia; Grice, Joe |
| Abstract: | Water is a fundamental resource for human life and life more generally. It, and the ecosystem services it provides, are under increasing pressure from human production and consumption activities. Such pressures, and their relationship to economic activities, can be tracked and monitored through water accounting through the UN-agreed System of Environmental-Economic Accounting (SEEA). This paper describes how this is done. The SEEA (Ecosystem Accounting) advises the creation of five accounts: extent, condition and ecosystem flow – all in physical terms – and ecosystem condition and stock – in monetary terms. The information in the asset and flow accounts may be expressed in supply-and-use tables in physical and monetary terms, which allows their articulation with the System of National Accounts (SNA). The paper discusses the European and UK experience of compiling water accounts and finds that it is patchy and in considerable need of further development in order to realise the accounting approach set out in the SEEA. It concludes with some thoughts about the relevance of this approach to water and broader environmental management in the UK. |
| Keywords: | Water; water accounting; water ecosystem services; System of Environmental-Economic Accounting (SEEA); supply-use tables; water policy |
| JEL: | Q25 Q56 |
| Date: | 2025–02–04 |
| URL: | https://d.repec.org/n?u=RePEc:eoe:escoed:escoe-dp-2025-01 |
| By: | Bansal, Trishaa; Feyertag, Joe; Malhotra, Saumya; Mehta, Sukanya |
| Abstract: | India has one of the world’s largest social protection systems. The Government of India spends roughly 7.9% of GDP, or 26.6% of its budget, on social protection programmes. In 2025, social security coverage extended to 64.3% of the population: around 920 million people. Climate change is projected to put a significant strain on India’s social protection system, especially given the country’s high exposure and vulnerability to extreme weather events. As such, social protection coverage is becoming increasingly vital in areas such as water, resilient infrastructure, poverty alleviation, agriculture and health. India will need to leverage these sectors if it is to finance adaptation that protects the most vulnerable sections of society. |
| JEL: | N0 E6 |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:140334 |
| By: | Chen, Shuo; Taheripour, Farzad; Baldos, Uris Lantz; Zhuang, Qianlai; Yuan, Ye; Benavidez-Brouk, Lauren |
| Abstract: | Global pastureland covers about one-third of the Earth’s land surface and has undergone significant changes in the past decades. Understanding the spatial distribution and trends of pastureland is essential for addressing environmental and food security challenges as well as supporting sustainable development. This study reconstructs pastureland maps at 500m spatial resolution based on the MODIS MCD12Q1 V6 land cover product and the Gridded Livestock World v3 (GLW) dataset. We further analyzed the trend, variability, and distribution in pastureland from 2001 to 2020. Overall, the pastureland area in this study is consistent with FAOSTAT, HYDE, and HILDA datasets. In selected countries with large pastureland areas, the pastureland in Australia and China contracted while it expanded in the United States over the period 2001 to 2020. For Brazil, pastureland area initially grew and then declined in later years. We find that pastureland in the United States, Canada, China, Australia, and Sub-Saharan Africa largely remained stable over this period. In the South of America and Russia, it is unstable, which indicates frequent conversion of pastureland into other land uses. This reconstruction of global pastureland at 500m level is promising for accurately capturing the spatial heterogeneity of pastureland and further improving our understanding of its impact on renewable fuels policies, sustainable development targets, and environmental issues. |
| Keywords: | Resource /Energy Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404741 |
| By: | Zhang, Ruohao; Li, Huan; Wen, Kaiyi; Khanna, Neha |
| Abstract: | Why do individuals raised in environmentally disadvantaged areas often remain in similar conditions as adults? We propose a behavioral mechanism of environmental anchoring, where past lived experiences serve as a reference point for future residential choices. We develop a discrete choice model of residential sorting that incorporates reference-dependent preferences, positing that individuals discount the utility of amenities, such as air quality or climate, when they diverge substantially from their formative baseline. This framework oers a micro-foundation for the intergenerational persistence of environmental exposure: individuals from low-amenity origins may undervalue improvements in environmental quality, leading them to self-sort into similarly disadvantaged locations. We test this theory empirically using an augmented gravity model of U.S. county-to-county migration ows from 2013 to 2017. By constructing a measure of environmental distance between origin and destination, we isolate the role of environmental anchoring in migration decisions. We nd robust evidence that migration ows are signicantly larger between counties with similar environmental and socioeconomic proles, even after controlling for physical distance and economic opportunities. These ndings suggest that spatial inequality is reinforced not only by structural constraints but by internalized preferences, implying that policies aiming to promote intergenerational mobility must account for the behavioral stickiness of past environmental exposure. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404509 |
| By: | Bettarelli, Luca; Furceri, Davide; Pisano, Loredana; Pizzuto, Pietro |
| Abstract: | This paper investigates the impact of climate change policies on inflation, for a large sample of 177 developed and developing economies, 78 subnational territorial areas and 17 sectors, over the period 1989-2022. We show that carbon taxes lead to inflationary pressures. The effect is not negligible: a one standard deviation carbon tax shock—corresponding to a 5$/tCO2 increase in emissions-weighted carbon taxes—leads to an increase of the price level of about 0.7 percent one year after the implementation of the policy, and between 1.6 and 4 percent in the medium term. These results hold at the national, sub-national and sectoral level. The effect is larger when inflation is initially high, and in regions (sectors) characterized by high emissions and low innovation capacity. In contrast, we find that emissions trading systems as well as non-market-based climate change policies (such as R&D subsidies) do not have statistically significant effects on prices. |
| JEL: | E31 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19643 |
| By: | Sieber, Niklas; Duffner-Korbee, Dorien |
| Abstract: | The paper examines why Sustainable Urban Mobility Plans (SUMPs) often fall short of delivering substantial changes in urban transport and climate performance, and how their effectiveness can be improved. Drawing on a 2023 survey of transport planners in ten cities participating in the EU project REALLOCATE, it analyses current SUMP practice regarding spatial coverage, time frames, goal setting, targets, implementation, and monitoring. The findings reveal weak quantification of climate and mobility targets, limited coverage of functional urban areas, and a significant imple-mentation gap, particularly for politically sensitive "push" measures that restrict car use. Monitoring is uneven and sometimes leads to a weakening of targets rather than to policy adjustment. To strengthen the impact of SUMPs, the paper proposes a vision-led transport planning approach that includes backcasting, SMART targets, and quantitative impact assessments before and after implementation. It provides guidance on the selection of measures and calls for integrated push-and-pull packages. National and regional governments can support the development of vision-led SUMPs by combining funding and technical assistance with regulatory minimum standards. Addi-tionally, the paper introduces "Climate Mobility Plans" as a tool to enhance the effectiveness of transport policies in climate mitigation. Overall, the paper demonstrates that achieving sustainability in transport requires a vision-led plan-ning approach supported by coordinated action across levels of government. While municipalities play a central role, national and regional governments can significantly improve the performance of SUMPs. |
| Keywords: | Vision-led transport planning, Sustainable Urban Mobility Planning, SUMP, Article 41(1)(b) of EU Regulation 2024/1679, Mobility planning, Transport planning, Goal-oriented planning, Target achievement in transport planning, Push and Pull, Climate Mobility Plan, Functional urban area |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:fisisi:342566 |
| By: | Baccianti, Claudio; Baltzer, Markus; Boesel, Nils; Finck, David; Hagemann, Tim; Kuntz, Laura-Chloé; van der Meyden, Friso; Schlam, Carina; Schober, Dominik; Unger, Robert |
| Abstract: | Achieving Germany's goal of greenhouse gas neutrality by 2045 requires a shift to non-fossil energy sources and low-carbon production and consumption patterns. This transformation necessitates substantial investments. According to existing evidence, estimates of additional investment needs - beyond replacement investments - range between 2% and 4% of GDP per annum. This study explores the capacities of the German banking system to finance these additional investment requirements. We conclude that the German banking sector's, given solid excess capital and assuming frictionless credit allocation between banks, is capable of financing these additional investments even under conservative assumptions. However, the results of firm and household surveys conducted by the Bundesbank show that in both groups, a majority is reluctant to decarbonize and undertake the necessary investments in the coming years. |
| Keywords: | Banks, Capital regulation, Climate investment, Net-zero emission pathways |
| JEL: | G21 G28 G31 Q43 Q54 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:bubtps:342511 |
| By: | Choe, Kyoungin; Goodwin, Barry K. |
| Abstract: | A large empirical literature uses historical weather-yield relationships to assess the potential impacts of climate change on agricultural production. Technological change, however, may alter the sensitivity of agricultural production to climate stress in ways not fully captured by the simple time trends commonly used in empirical models. This paper examines whether climate-yield relationships in US corn production exhibit structural changes following the commercialization and widespread diffusion of biotechnology traits. Using county-level panel data on corn yields and weather variables from 1950–2024, we estimate fixed-effects models incorporating a structural break in 2003, corresponding to the commercialization of rootworm-resistant biotechnology traits in US corn production. The analysis incorporates alternative drought measures, precipitation controls, and nonlinear climate specifications. The results provide consistent evidence that corn yields became less sensitive to heat stress, drought conditions, and precipitation variability after 2003. The findings remain robust across alternative model specifications and structural break years between 2001 and 2005. Overall, the results suggest that technological advances may have altered historical climateyield relationships, with important implications for climate-impact assessments and projections of future agricultural damages. |
| Keywords: | Productivity Analysis, Research and Development/Tech Change/Emerging Technologies |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404708 |
| By: | Mader, Anna; Musshoff, Oliver |
| Abstract: | Increased access to finance is widely viewed as a key driver to increase adaptive capacity in response to climate change. However, apart from limited studies on borrowing behavior, little is known about how exposure to extreme heat impacts microfinance clients’ financial behavior. This study addresses this gap by investigating the short-run effects of unusual heat on microfinance clients’ saving and withdrawal behavior. In a case study, it combines geo-located temperature data with a unique dataset of around 50, 000 clients of a leading Microfinance Institution (MFI) in Benin. Applying two-way fixed effects, seemingly unrelated regression, and ordinary least square models, the study finds that exposure to extreme heat is heterogeneously associated with microfinance clients’ financial behavior. Specifically, non-agricultural clients show suggestive evidence for the accumulation of precautionary savings after extreme heat days in the precedent quarter, while agricultural clients statistically significantly reduce their savings following exposure to extreme heat in the precedent quarter. Microfinance clients increase their withdrawals when exposed to extreme heat within the precedent quarter, but the association is not robust to agricultural clients’ withdrawals in response to an increase in annual extreme heat days. Addressing the heterogeneous financial responses across different clients to extreme heat consequently requires explicit policy attention. Our findings contribute to a better understanding of the impact of extreme weather events on individual economic outcomes, how financial behavior relates to weather risk, and how microfinance clients respond to shocks. |
| Keywords: | International Development |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404654 |
| By: | Wojnarowski, Fred |
| Abstract: | Speculation through enclosure and irrigation at the edges of Jordan's urban expansion into the desert has coincided in recent years with an ever-louder discourse of water scarcity, and a moral concern over the use of groundwater via illegal wells, eroding the viability of small-scale agriculture. Tracing a specific case of a speculative gambit and placing it in relation to a nearby agricultural community experiencing the disastrous effects of water scarcity, I explore how rural and peri-urban Bedouin anxiously anticipate various uneasily coexisting futures around land and water, between personal enrichment and wider social and environmental ruination. |
| Keywords: | accumulation;anticipation;Jordan;land rush;property speculation;value;water scarcity |
| JEL: | J1 |
| Date: | 2026–06–01 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:140297 |
| By: | Abdellah Ait El Quadi (Laboratoire de Recherche en Gestion des Entreprises (LaRGE) , Ecole Nationale de Commerce et de Gestion d’Agadir); Mohamed Hangoure (Laboratoire de Recherche en Gestion des Entreprises (LaRGE) ENCG d’Agadir) |
| Abstract: | Les zones oasiennes et semi-arides font face à des défis multiples incluant la rareté de l'eau, la désertification, l'exode rural et la marginalisation économique. Malgré une littérature abondante sur l'entrepreneuriat social dans divers contextes géographiques, aucune synthèse systématique n'a spécifiquement examiné son rôle dans les écosystèmes oasiens et semi-arides, caractérisés par des contraintes hydriques extrêmes et une vulnérabilité climatique accrue. Cette revue systématique vise à combler cette lacune en synthétisant les connaissances sur les mécanismes par lesquels l'entrepreneuriat social contribue au développement durable de ces zones fragiles. Nous définissons l'entrepreneuriat social comme un processus de création de valeur combinant mission sociale explicite, innovation dans la mobilisation des ressources et viabilité économique (Dees, 1998 ; Mair & Martí, 2006). Suivant le protocole PRISMA 2020, une recherche systématique a été menée dans trois bases de données (Web of Science, Scopus et Google Scholar) couvrant la période 2003-2025. Après dédoublonnage et screening indépendant par deux évaluateurs (k=0.82 pour titre/résumé ; k=0.78 pour texte intégral), 58 études ont été incluses dans la synthèse thématique finale. La synthèse révèle cinq thèmes principaux : (1) l'inclusion économique à travers la valorisation des produits locaux et la création d'emplois, avec 15-45 emplois par initiative documentés dans 12 études indiennes et marocaines ; (2) l'innovation dans les modèles d'affaires, notamment les coopératives (23 études) et les entreprises hybrides (15 études) ; (3) la durabilité environnementale via la gestion innovante de l'eau, avec une réduction de 30-60% de la consommation documentée dans 8 études ; (4) l'autonomisation communautaire avec une participation féminine de 45-70% dans les coopératives, rapportée par 14 études ; et (5) la résilience et l'adaptation climatique (18 études). Les études proviennent principalement d'Inde (21%), du Maroc (19%), d'Égypte (12%), de Jordanie (9%), du Kenya (7%) et du Brésil (7%). L'entrepreneuriat social démontre un potentiel significatif pour le développement durable des zones oasiennes, mais nécessite un soutien institutionnel renforcé, des mécanismes de financement adaptés et une meilleure mesure des impacts à long terme. |
| Keywords: | social entrepreneurship, oasis regions, sustainable development, water management, cooperatives, climate resilience, entrepreneuriat social, zones oasiennes, développement durable, gestion de l'eau, coopératives, résilience climatique |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05631932 |
| By: | Adhikari, Prabin; Kassas, Bachir; Nayga, Rodolfo |
| Abstract: | Rising temperatures may influence everyday food choices in ways that have important implications for nutrition and public health. This paper studies how short-run exposure to extreme temperatures affects the composition of household grocery purchases in the United States. Using a nationally representative household panel dataset of grocery transactions merged with local weather information, we exploit within-household variation and estimate two-way fixed effects models to identify causal effects. We find that hotter weeks consistently shift food purchases toward less healthy items and reduce overall diet quality, with little change in total grocery spending. In contrast, unusually cold weeks lead to slight increases in total spending but do not significantly alter the nutritional composition of purchases. These results suggest that heat exposure primarily induces households to reallocate spending toward less healthy foods rather than to change how much they spend, whereas cold exposure mainly affects the volume of groceries purchased. The heat-induced effects on healthiness of food purchases are modest in the short run but are highly robust and more pronounced for households with less healthy baseline purchasing patterns. These findings highlight an underexplored channel through which rising temperatures may degrade diet quality, underscoring the potential public health and welfare costs of climate change. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404461 |
| By: | Richard S. J. Tol |
| Abstract: | The rich have emitted the bulk of greenhouse gases. The poor suffer the bulk of the impacts. Climate change is a transfer from poor to rich. Climate policy is a transfer from rich to poor. Why, Schelling asked, do people in the Global North care about the descendants of people they do not care about? And, assuming they do, are there no better ways to help them than emission reduction? A prominent economist, Schelling posed his Paradox and Conjecture in a series of papers in the 1980s and 1990s. The economics profession has largely ignored his work, instead focusing on Nordhaus' simpler carbon-as-an-externality framing. |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2607.04322 |
| By: | Benetton, Matteo; Emiliozzi, Simone; Guglielminetti, Elisa; Loberto, Michele; Mistretta, Alessandro |
| Abstract: | This paper leverages the unexpected successful activation of a sea wall built to protect Venice from rising tides to estimate the capitalization into property values of public investment in resilience infrastructure. Using a difference-in-differences hedonic approach with high-frequency microdata on residential and commercial properties, we show that properties above the sea wall activation threshold experience a permanent reduction in flood risk and expected damages, reflected in higher prices. To account for city-wide effects and potential ex-post government bailouts, we analyze the effect of the second-largest flood in Venice centuries-long history on properties prices relative to the mainland as well as data on government claims matched with property elevations. Our findings indicate that capitalized benefits and projected government savings cover approximately 52% (101%) of the sea wall costs in a status-quo (sea-level-rise) scenario. Lastly, we calculate a break-even discount rate of 1.1%, which increases to to 2.5% under sea-level-rise projections. |
| Keywords: | Housing; Adaptation; Infrastructure |
| JEL: | Q54 R21 R38 O18 H54 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19706 |
| By: | Anderson, Thomas M. |
| Abstract: | Invasive species impose substantial economic and ecological costs globally, yet little is known about how to design efficient contracts for private removal efforts under conditions of moral hazard. We develop a spatially-explicit bioeconomic model that integrates optimal control theory with contract design to examine two-part compensation schemes that pay contractors for both time spent searching and species captured. Our theoretical framework demonstrates that when effort has both observable (time) and unobservable (search intensity) dimensions, pure piece-rate contracts may fail to incentivize adequate effort in low-productivity areas or when "cobra effect" constraints limit bounty payments. We test these predictions using comprehensive data from Florida’s Python Elimination Program, which employs novel two-part contracts to remove invasive Burmese pythons from the Everglades ecosystem. Exploiting within-parcel variation in hourly compensation rates over time, we find that a 10% increase in hourly payments generates approximately 20% more search effort, with effects operating primarily through the intensive margin (effort per hunter) rather than hunter participation. The responsiveness varies systematically with ecological productivity, consistent with our theoretical prediction that time-based payments become more important when piece-rate incentives are weak. Our results demonstrate that spatially-differentiated contract design can significantly improve cost-effectiveness compared to uniform compensation schemes, with important implications for invasive species management, conservation policy, and other environmental contexts where effort quality is difficult to observe. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404457 |
| By: | Barai, Dipanwita |
| Abstract: | Fertility is a complex amalgamation of human choice, economic conditions, and environmental factors. While the biological toxicity of wildfire-induced air pollution is well-documented to have severe detrimental effects on human health and the reproductive system, reproductive outcomes are not dictated by biology alone. They are profoundly shaped by human behavioral responses. This study analyzes the net effect of wildfire exposure, alongside economic shocks and non-parametric temperature extremes, on fertility in the United States. Utilizing a comprehensive county-monthyear panel dataset from 2010 to 2023, the analysis employs a Poisson Pseudo-Maximum Likelihood (PPML) regression incorporating high-dimensional county and year-month fixed effects. The primary findings reveal a statistically significant positive relationship between wildfire exposure and fertility. Utilizing SafeGraph mobility data, this study empirically isolates the behavioral mechanism driving this result: wildfires cause a highly significant increase in the proportion of the population sheltering completely at home, altering daily routines in a manner that overrides the biological detriments of smoke exposure. Furthermore, a continuous interaction analysis reveals a stark environmental justice divide: while the shelter-in-place "baby bump" occurs universally across income groups, economically vulnerable counties suffer severe fertility depressions from the economic anxiety accompanying disasters, significantly muting the behavioral bump. A 500iteration randomization inference (placebo) test confirms the causal robustness of these findings, yielding an empirical p-value of < 0.01. |
| Keywords: | Health Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404592 |
| By: | Özer, Yeliz; del Barrio Castro, Tomás; Escribano, Álvaro; Sibbertsen, Philipp |
| Abstract: | Deep-time climate records contain deterministic orbital signals and persistent stochastic variation, but how these components jointly affect predictability across climate states remains unclear. We analyze the Cenozoic Global Reference benthic foraminifer oxygen and carbon isotope record spanning 67.1 million years. This very long period is divided into seven climate-state segments. For each segment, we estimate deterministic contemporaneous long-run components combining linear trends, eccentricity, obliquity, climatic precession, and identified harmonic frequencies. The remaining variation is modeled with a bivariate vector autoregressive forecasting framework conditioned on astronomical forcing. The selected deterministic and dynamic structures differ substantially across climate states. Obliquity is the most recurrent orbital predictor, whereas squared obliquity, eccentricity, climatic precession, and harmonic components contribute only in particular segments and differ between the two proxies. Forecast accuracy likewise varies across the record, although observed and predicted values agree closely in several segments. A projection for the next 100, 000 years provides a baseline implied by natural astronomical forcing and continued Icehouse dynamics. Overall, the results show that orbital responsiveness, proxy interactions, and statistical predictability are state dependent. Deep-time climate variability therefore cannot be represented by a single common combination of deterministic forcing and stochastic dynamics across the complete Cenozoic. |
| Keywords: | CENOGRID, Deep-Time Paleoclimate, Forecasting Climate Data. |
| JEL: | C22 C32 C53 |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:han:dpaper:dp-751 |
| By: | Elbakidze, Levan; Lee, Young Gwan; Bawa, Arun; Gassman, Phil; Srinivasan, Raghavan |
| Abstract: | Agricultural nutrient runoff remains a major source of water quality impairment in the United States despite extensive conservation efforts. While previous studies have evaluated the technical effectiveness and cost-effectiveness of best management practices (BMPs), most analyses treat BMP adoption as exogenous and do not account for market-mediated adjustments in production and land use. This study develops an integrated hydro-economic framework that endogenizes BMP adoption alongside crop allocation, fertilizer use, and irrigation decisions. The model extends the Integrated Hydro-Economic Agricultural Land Use (IHEAL) framework by incorporating eight major U.S. field crops, jointly modeling nitrogen and phosphorus runoff, and integrating large-scale Soil and Water Assessment Tool (SWAT) simulations across the Mississippi–Atchafalaya River Basin, Chesapeake Bay watershed, and Maumee River watershed. The framework combines a price-endogenous partial equilibrium model with spatially explicit biophysical parameters to evaluate the economic and environmental consequences of nutrient runoff reduction policies. Preliminary results indicate that simulated commodity prices and crop production generally align with historical observations, supporting the validity of the modeling framework. The completed analysis will quantify the opportunity costs of nutrient runoff abatement, evaluate the economic efficiency of alternative BMP adoption strategies, and assess cross-watershed spillover effects arising from endogenous market adjustments. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404447 |
| By: | Halkos, George; Aslanidis, Panagiotis-Stavros |
| Abstract: | Energy poverty has evolved from a predominantly affordability-based concern into a multidimensional policy challenge encompassing (i) income, (ii) housing conditions, (iii) energy efficiency, (iv) access to essential energy services, and (v) social vulnerability. This report examines the evolving European Union framework for addressing energy poverty and assesses its implications for Greece. It conceptualizes EU policy through three interconnected pillars: prevention, protection, and structural reform, which encompass social and climate finance, consumer protection schemes, incentives for renovation, energy efficiency standards, and participation in renewable and community energy. Particular attention is given to Greece’s emerging national architecture, including the updated Energy Poverty Action Plan and the APOLLON programme, which signals a shift from recurrent energy-bill support toward renewable-based structural interventions. The report identifies remaining gaps concerning protection from energy disconnection, the influence of the Social Climate Fund deployment, and outcome-based monitoring; hence, it proposes an integrated pathway for enabling vulnerable households to sustainably exit energy poverty. |
| Keywords: | Energy justice; Climate Social Fund; Just Energy Transition; Energy vulnerability; Greece; European Union. |
| JEL: | D63 I32 Q40 Q43 Q48 Q50 Q56 Q58 |
| Date: | 2026–08–10 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:130417 |
| By: | Brooks, Matthew; Usmani, Faraz |
| Abstract: | Over 2.8 billion people are chronic ally exposed to hazardous levels offine particulate matter air pollution. This paper provides novel evidence that workers in such settings partially adapt to chronic exposure but that adaptation does not offset cumulative harm. We estimate the effect of PM2.5 on labor productivity using individual-level performance data from 14 years of professional cricket in India (2008–2022), paired with a machine learning data product providing daily PM 2.5 estimates at 10 km resolution. Leveraging variation in day-to-day exposure generated by league scheduling rules, we find that a 10 μgm−3 increase in same-day PM 2.5 (half a standard deviation) reduces bowler performance by about 1 percent relative to batters, consistent with bowlers’ heightened exposure via higher respiration rates. Effects are non-linear, with the largest marginal damages above approximately 50 μgm−3—levels common in developing countries but uncommon in causal studies. Using variation in chronic exposure from player assignment to teams according to salary cap rules, we find that acute shocks harm those with the highest past exposure approximately 40 percent less than those with median exposure histories, indicating adaptation over both 30-day and career-spanning horizons. Nevertheless, chronic exposure degrades performance by more than adaptation offsets, except under extremely rare pollution conditions. These findings underscore the importance of regulating these cond moment of the pollution distribution: non-linearity implies that marginal damages are largest when pollution is in the uppertail, while partial adaptation implies that spikes above mean levels amplify marginal damages. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404434 |
| By: | Beatrice Di Marco (LUMSA University, Rome, Italy); Giovanni Ferri (LUMSA University, Rome, Italy; HURfuture Research Center); Marco Pini (Centro Studi delle Camere di Commercio Guglielmo Tagliacarne) |
| Abstract: | Investors increasingly assess firms using broader performance measures beyond return on equity, emphasizing ESG (environmental, social and governance) outcomes. Micro- and small-sized enterprises (MSEs), which traditionally rely on cooperative banks to ease credit constraints, now face growing pressure to adopt sustainable practices. This shift calls for re-examining whether relationships with credit cooperative banks (CCBs) enhance not only credit access but also ESG performance. Using data from the 2023 Tagliacarne Institute Survey in Italy, the study develops an innovative metric and applies an instrumental variables approach to address endogeneity. Results are robust and show a positive ESG effect, particularly when firms are geographically close to CCB branches. |
| Keywords: | Cooperative banks; Small businesses; Access to credit; ESG performance |
| JEL: | G21 L25 L26 L31 M14 P13 Q56 |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:lsa:wphurf:wphurf04 |
| By: | Klüh, Ulrich; Naji, Ilia; Ötsch, Silke |
| Abstract: | The paper explores whether and how public savings banks can be transformed into meaningful agents of change for a more sustainable financial system. It outlines concrete elements of an ambitious transition program. We take as context the efforts to further integrate European financial markets within the framework of the so-called Savings and Investment Union (SIU). The paper highlights the (potentially productive) tensions between a strategy for sustainable finance that relies on capital markets and an approach that emphasizes the role of organizations, in particular (public) banks and related institutions (regulation). It identifies potential complementarities between the two approaches and emphasizes the role of civil society and unions in reinforcing sustainable development. |
| Keywords: | Savings banks, capital markets, socio-ecological transformation, climate change |
| JEL: | G18 G2 H77 H81 Q01 Q5 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:znwudp:342498 |
| By: | Whittard, Damian; Bradley, Peter; Phan, Van; Ritchie, Felix |
| Abstract: | Given the urgency to transition to net-zero, there is a need for a robust evidence-base to support an environmentally sustainable and equitable changeover. However, intelligence on green jobs and their impact on different groups is lacking. This study examines the dynamics of green jobs, leveraging a novel linked dataset that combines detailed occupational, industry, demographic and pay information from 2011 to 2018. By employing both cross-sectional and panel estimation techniques, we provide a wide-ranging analysis of employment in green occupations. The results indicate that individuals are more likely to work in green occupations if they are white, male, fulltime, not in a trade union and work for a small or foreign owned business. There is a pay premium for working in green occupations, which reduces gender and ethnic pay gaps. However, conditional on working in a green occupation, gender and ethnic pay gaps persist. This implies that to have a fair and just transition to net-zero, policy interventions are required to address the dual inequality of opportunity and pay. |
| Keywords: | fair and just; green jobs; inequality; multivariate quantitative methods; net zero; pay gap |
| JEL: | C10 J15 J16 J49 O52 Q00 |
| Date: | 2024–10–22 |
| URL: | https://d.repec.org/n?u=RePEc:eoe:escoed:escoe-dp-2024-13 |
| By: | Seele, Stefanie; Stettes, Oliver |
| Abstract: | Gut vier von zehn sozialversicherungspflichtig Beschäftigten sind der Überzeugung, dass das eigene Unternehmen in den kommenden fünf bis zehn Jahren durch Umwelt- und Klimaschutzauflagen unter starken Veränderungsdruck gerät. Dies zeigen empirische Befunde aus der IW-Beschäftigtenbefragung 2024. Besonders betroffen sind Beschäftigte in dekarbonierungsexponierten Branchen, in denen die Emissionsintensität der Wertschöpfung hoch und gleichzeitig auch deutlich abgenommen hat. Das Gros der Befragten (70 Prozent) sieht das eigene Unternehmen gut in Sachen Umwelt- und Klimaschutz aufgestellt. Dies ist insbesondere dann, wenn die betrieblichen Maßnahmen in diesen Bereichen in den vorausgegangenen zwei Jahren ausgeweitet worden sind (86 Prozent). Knapp die Hälfte der Beschäftigten berichtet über ein ausgeweitetes Engagement beim Umwelt- und Klimaschutz. Ein erwarteter starker Veränderungsdruck im Unternehmen wird von den Beschäftigten ambivalent gesehen. Er geht teils mit einer optimistischen und teils mit einer pessimistischen Einschätzung einher. Wer hingegen sein Unternehmen gut aufgestellt sieht oder über ein gestiegenes Engagement berichtet, blickt optimistisch darauf, dass sich durch gesetzliche Auflagen eher Chancen für den eigenen Betrieb eröffnen. Knapp drei von zehn Beschäftigten teilen diese Auffassung. Das liegt auch daran, dass ein gestiegenes betriebliches Umweltund Klimaschutzengagement positiv mit Merkmalen korreliert, die gelingende betriebliche Transformationsprozesse auszeichnen. Letzteres bedeutet, dass den Betroffenen einer wesentlichen Umstrukturierung im eigenen Arbeitsumfeld die Notwendigkeit und die Ziele der Reorganisation durch die Geschäftsführung klar vermittelt wurden, sie sich mit eigenen Ideen einbringen konnten, sie sich unterstützt und in ihren bisherigen Leistungen wertgeschätzt gefühlt haben. Geschäftsführungen können demnach mithilfe gut gestalteter betrieblicher Transformationsprozesse die Akzeptanz von Umwelt- und Klimaschutz auf betrieblicher Ebene fördern. Aber auch dort, wo keine größeren Reorganisationsprozesse erlebt wurden, hat sich das Arbeitsumfeld aus Sicht derjenigen Beschäftigten verbessert, die über ein stärkeres betriebliches Engagement in Sachen Umwelt- und Klimaschutz berichten. Im Unterschied zu den positiven Erfahrungen aus den erlebten wesentlichen Umstrukturierungen gehen die Verbesserungen bei den Arbeitsbedingungen nicht zwingend mit einem optimistischen Blick auf die Herausforderungen einher, die die Beschäftigten künftig aufgrund von Umweltund Klimaschutzauflagen erwarten. Dies zeigt sich am deutlichsten, wenn größere Entscheidungsspielräume bei der Gestaltung der eigenen Arbeit gewährt werden. Diese gehen mit einer höheren Arbeitszufriedenheit, einem stärkeren Engagement und einem besseren Wohlbefinden einher. Größere Entscheidungsspielräume erhöhen aber nicht nur signifikant die Wahrscheinlichkeit, in Umwelt- und Klimaschutzauflagen eher eine Chance für das eigene Unternehmen zu sehen, sondern auch ein Risiko. Umgekehrt verbinden Beschäftigte, bei denen sich die Entscheidungsmöglichkeiten verringert haben, mit den ökologischen Anforderungen ebenso gleichermaßen häufiger Chancen und Risiken. Dieses ambivalente Bild könnte darauf zurückzuführen sein, dass eine Gruppe der Beschäftigten von der Bedeutung des eigenen aktiven Handelns für eine erfolgreiche Umsetzung des ökologischen Wandels im eigenen Unternehmen überzeugt ist. Die andere Beschäftigtengruppe mag die gestiegenen Gestaltungsmöglichkeiten hingegen als Vorbereitung für kommende herausfordernde Aufgaben sehen, bei denen sie skeptisch ist, ob es gelingt, diese erfolgreich zu bewältigen. |
| Abstract: | Just over four in ten employees subject to social security contributions believe that their own company will come under strong pressure to change due to environmental and climate protection regulations over the next five to ten years. This is shown by empirical evidence from the Employee Survey of the year 2024 by the German Economic Institute. Employees in decarbonization-exposed industries are particularly affected, where the emissions intensity of value added is high but has also declined recently. At the same time, a large majority of respondents (70 percent) consider their company to be well positioned in terms of environmental and climate protection, especially when related measures have been expanded over the past two years (86 percent). Almost half of employees report increased company engagement in environmental and climate protection. Expected strong pressure for change is viewed ambivalently by employees and is associated with both optimistic and pessimistic assessments. Those who see their company as well positioned or who report increased engagement are more optimistic that regulatory requirements will create opportunities for their firm. Almost three in ten employees share this view. One reason is that increased corporate engagement in environmental and climate protection is positively correlated with characteristics of successful transformation processes. These include clear communication by management of the necessity and objectives of reorganization, opportunities for employees to contribute ideas, and feelings of support and recognition. Well-designed transformation processes can therefore increase acceptance of environmental and climate protection at company level. Even in the absence of major reorganizations, employees who report stronger corporate engagement perceive improvements in their working environment. Unlike the positive experiences associated with major restructurings, these improvements do not necessarily coincide with optimism about future challenges arising from environmental and climate regulations. This is most evident with expanded decision-making autonomy in work design, which is associated with higher job satisfaction, stronger engagement, and better well-being. Greater autonomy significantly increases the likelihood that employees see environmental and climate regulations both as an opportunity and as a risk. Conversely, reduced decision-making autonomy is also linked to more frequent perceptions of both opportunities and risks. This ambivalence may reflect differing assessments of whether increased scope for action enables successful transformation or prepares employees for demanding tasks whose successful completion is uncertain. |
| JEL: | J28 D20 Q50 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:iwkrep:342415 |
| By: | Moench, Emanuel; Soofi Siavash, Soroosh |
| Abstract: | We use restrictions derived from frontier models of directed technical change to identify an energy-saving technology shock in a Bayesian structural VAR of the U.S. economy. This shock is associated with a persistent reduction of the carbon intensity of output. It also leads to a delayed but strong increase of GDP which gives rise to substantial additional fossil fuel consumption and new emissions. As a result, per capita emissions fully rebound after an initial decline. These effects can largely be attributed to a substitution of fossil fuel end-use by electricity, much of which has historically been generated using fossil fuels. |
| Keywords: | Energy-saving technology shocks; Carbon emissions; Structural vector autoregressions |
| JEL: | C32 O47 Q43 Q55 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19656 |
| By: | Bøler, Esther Ann; Holtsmark, Katinka; Ulltveit-Moe, Karen Helene |
| Abstract: | We analyze how a negative shock to the profitability of oil-extracting firms may lead to a shift from dirty to clean R&D along the supply chain. First, we develop a theoretical framework, showing that adjustment costs in R&D give firms in the fossil energy supply chain an additional incentive to shift R&D activity towards clean innovation as a consequence of a negative shock. Next, we leverage the 2014 oil price drop to empirically investigate the impact of reduced profitability in the fossil energy supply chain on clean R&D. We propose a novel method to identify firms’ exposure to the shock. In line with the predictions from the model, we find that more exposed firms increased their clean R&D more than other firms. Our findings imply that carbon pricing will nduce clean innovation not only by increasing demand for clean technologies, but also by lowering profitability in the fossil energy supply chain. |
| Keywords: | Clean Innovation; Global supply chains; Carbon pricing |
| JEL: | F18 O31 Q55 Q58 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19796 |
| By: | Tyson, Judith; Chanda, Arka |
| Abstract: | The transition to a green economy is increasingly dependent on private finance, particularly given the fiscal constraints to delivering on the transition to net zero emissions faced by sources of public finance. However, the integration of just transition principles into private financial flows remains limited, narrow in scope and far from mainstream. As private capital plays a growing role in funding climate mitigation and adaptation, it is essential that this financing reflects local sustainable economic and social development needs, while safeguarding principles of equity, inclusion and justice. Progress is currently constrained by practical barriers, notably limited awareness and understanding of how to operationalise just transition principles and a lack of well-developed business cases to advance just transition objectives. This policy brief synthesises the findings of the Just Transition Finance Lab’s research series on ‘Emerging Best Practice for Just Transition Finance’ and identifies a critical gap: the lack of a robust, quantifiable business case for just transition finance. It highlights the need for policy leadership to set clear baselines and expectations for market practice. The authors review current approaches, provide examples of good practice and outline ongoing challenges given recent headwinds and structural issues facing the just transition. They make recommendations for policymakers and financial actors to progress just transition integration within private finance, drawing primarily on insights from engagement with asset managers. |
| JEL: | F3 G3 N0 |
| Date: | 2026–06–26 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:138973 |
| By: | Smolenska, Agnieszka; Menegat, Martina; Goumet, Laudine; Burrell, Amy-Jane |
| Abstract: | This submission responds to the European Banking Authority’s (EBA) open consultation on EBA/CP/2026/07 – Revisions to the ITS on supervisory reporting (Commission Implementing Regulation (EU) 2024/3117): Module on ESG Reporting. The submission draws on research and insights from across CETEx and was led by Agnieszka Smoleńska, with contributions from Martina Menegat, Laudine Goumet and Amy-Jane Burrell. The authors gratefully acknowledge comments and reviews by Elena Almeida and Rob Patalano. The response was submitted on 10 July 2026. The consultation can be viewed here: https://www.eba.europa.eu/publications-and-media/events/consultation-implementingtechnical-standards-supervisory-reporting-simplification-package The submission builds on the following CETEx publications: Smoleńska A and Poensgen I (2025) Integrating bank transition planning into prudential supervision; Smoleńska A, Chan T, Poensgen I and Higham C (2025) Banks and climate litigation risk: navigating the low-carbon transition; Smoleńska A (2025) How new guidelines on ESG risks for European banks reduce regulatory complexity; Goumet L, Menegat M, Almeida E, Waaifoort M and Smoleńska A (2026) EU banks and nature-related risk management: from awareness to action; Menegat M and Després M (2026) The insurance–bank nexus: the climate protection gap as a source of risk for the financial system; Prodani K and Goumet L (2026) Pressure switch: why corporates should disclose their contribution to pressures on biodiversity, not aggregated outcome metrics; Fulvi C, Smoleńska A, Brochard A and Hajagos-Tóth Á (2026) Banks’ transition plan dependencies: from risks to opportunities; and Smoleńska A, Täger M, Goumet L, Almeida E, Miller H and Poensgen I (2025) Submission to the PRA Consultation CP10/25 – Enhancing banks’ and insurers’ approaches to managing climate-related risks – Update to SS3/19. |
| JEL: | N0 F3 G3 |
| Date: | 2026–07–13 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:140289 |
| By: | Roselyne Jeanne-Brou (CASHVOLT); Cédric Carles (REGENBOX); Stéphane Casse (REWATT); Olivier Huzard (JOULE EN VRAC); Maxime Bleskine (VOLTR); Louis Mettery (SEENSYS); Aurélien Aberbache (MEDIACLINIC); Christophe Deboffe (NEO-ECO); Christophe Bondu (IWIP); Diana de Bernardy (GS1); Seydina Diedhiou (BRING BACK); Gwenaël Kervajan (RE-LION FACTORY); Nadjib Renaï (RCUBE LA FÉDÉRATION DU RÉEMPLOI ET DE LA RÉPARATION); Marion Monnier (RCUBE LA FÉDÉRATION DU RÉEMPLOI ET DE LA RÉPARATION); Benoit Varin (RCUBE LA FÉDÉRATION DU RÉEMPLOI ET DE LA RÉPARATION) |
| Abstract: | The battery market is growing rapidly, driven by the electrification of uses, light mobility, consumer electronics, energy storage and electric vehicles. This growth is creating a strong strategic dependence on imports, critical raw materials and value chains that remain largely dominated by Asia. In this context, battery reuse is becoming a concrete lever for industrial sovereignty, decarbonisation and local value creation. The Battery White Paper shows that many sources of value remain underexploited: smartphones, electric bicycles, power tools, stationary storage, lead-acid batteries and professional equipment. However, the development of this sector is still held back by a lack of trust, standardisation and reliable evidence regarding the actual condition of batteries. Without diagnostics, traceability and shared reference frameworks, it is difficult to secure reuse, reassure users and scale up industrial practices. The White Paper therefore provides a structured analysis of the technical, economic, environmental and regulatory challenges related to the second life of batteries. It also underlines that reuse and recycling are not opposed to one another: better diagnosing and better directing batteries can also improve the quality of flows sent to recycling. The report also documents the environmental benefits of reconditioning, with significant reductions in carbon footprint compared with new batteries. This collective work brings together field operators, industrial players, repairers, reconditioners, recyclers, trainers, experts and organisations committed to the circular economy. It therefore constitutes a reference framework for public authorities, local governments, companies, the media and stakeholders across the sector. Citing this White Paper means recognising the emergence of a French battery reuse sector and helping to make its needs visible: diagnostics, safety, traceability, access to battery streams, training and a clear regulatory framework. It also means supporting a responsible approach: repairing, regenerating, reconditioning or reusing batteries whenever relevant, before directing them towards recycling. Recommended citation: Jeanne-Brou, R. et al. (2026). Réemployer les batteries en France : vers une industrialisation responsable. Impacts économiques, sociétaux et environnementaux d'une filière stratégique pour l'industrie française. RCube. ISBN: 978-2-322-63904-5. |
| Abstract: | Le marché des batteries connaît une croissance rapide, portée par l'électrification des usages, la mobilité légère, l'électronique, le stockage et les véhicules électriques. Cette croissance crée une dépendance stratégique forte aux importations, aux matières premières critiques et à des chaînes de valeur largement dominées par l'Asie. Dans ce contexte, le réemploi des batteries devient un levier concret de souveraineté industrielle, de décarbonation et de création de valeur locale. Le Livre Blanc Batterie montre que de nombreux gisements restent sous-exploités : smartphones, vélos électriques, outillage, stockage stationnaire, batteries plomb-acide ou équipements professionnels. Pourtant, le développement de cette filière reste freiné par un manque de confiance, de standardisation et de preuves fiables sur l'état réel des batteries. Sans diagnostic, sans traçabilité et sans référentiel commun, il est difficile de sécuriser le réemploi, de rassurer les utilisateurs et d'industrialiser les pratiques. Le Livre Blanc propose donc une lecture structurée des enjeux techniques, économiques, environnementaux et réglementaires de la seconde vie des batteries. Il rappelle que réemploi et recyclage ne s'opposent pas : mieux diagnostiquer et mieux orienter les batteries permet aussi d'améliorer la qualité des flux vers le recyclage. Il documente également les bénéfices environnementaux du reconditionnement, avec des réductions d'empreinte carbone significatives par rapport à une batterie neuve. Ce travail collectif réunit des acteurs du terrain, industriels, réparateurs, reconditionneurs, recycleurs, formateurs, experts et structures engagées dans l'économie circulaire. Il constitue ainsi un socle de référence pour les pouvoirs publics, les collectivités, les entreprises, les médias et les acteurs de la filière. Citer ce Livre Blanc, c'est reconnaître l'existence d'une filière française en structuration et contribuer à rendre visibles ses besoins : diagnostic, sécurité, traçabilité, accès au gisement, formation et cadre réglementaire. C'est aussi soutenir une approche responsable : réparer, régénérer, reconditionner ou réemployer lorsque cela est pertinent, avant d'orienter vers le recyclage. Référence recommandée : Jeanne-Brou, R. et al. (2026). Réemployer les batteries en France : vers une industrialisation responsable. Impacts économiques, sociétaux et environnementaux d'une filière stratégique pour l'industrie française. RCube. ISBN : 978-2-322-63904-5. |
| Keywords: | Reuse, Batterie, Economy, Climate resilience, Investment, Ecology, Réemploi, Ecologie, Investissement, Résilience Climatique, Economie |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05682584 |
| By: | Ugo Panizza (Geneva Graduate Institute and CEPR); Francesco Tripoli (Harvard Business School); Beatrice Weder di Mauro (Geneva Graduate Institute and CEPR) |
| Abstract: | The Voluntary Carbon Market (VCM) rests on the premise that one carbon credit compensates for one tonne of emissions. While a growing body of evidence questions the integrity of many credits, much less is known about whether the ability to offset affects firms' incentives to reduce their own emissions. Using a buyer-linked dataset covering the near-universe of offset retirements, we exploit the 2023 carbon-market scandals as a quasi-natural experiment. Firms that stop offsetting after the shock reduce their operational (Scope 1) emissions substantially more than firms that continue to purchase offsets. This finding is consistent with moral licensing: access to offsets weakens firms' incentives to undertake internal abatement. We also document persistent oversupply, opaque intermediation, and sharp price and volume responses to the scandals. Our results identify a demand-side problem in the VCM that is distinct from concerns about credit quality: even when credits represent genuine emissions reductions, the option to offset may slow decarbonization within purchasing firms. |
| Keywords: | Voluntary Carbon Market; Carbon credits; Integrity controversy; Rebound effects; Moral hazard; GHG Emissions |
| JEL: | G14 L11 L51 Q54 |
| Date: | 2026–08–03 |
| URL: | https://d.repec.org/n?u=RePEc:gii:giihei:heidwp21-2026 |
| By: | Wu, Yining; Manning, Dale; Zhang, Yao; Lupi, Frank; DeLay, Nathan; Bista, Dabit |
| Abstract: | Grazing lands are complex systems that deliver soil carbon sequestration, water cycling, and biodiversity habitat alongside livestock production and producer incomes. Grazing land management shapes both economic returns and environmental outcomes, yet reliable guidance on balancing profit with other ecosystem services is scarce. Focusing on rotational grazing, we develop a theoretical framework that describes the shadow value of soil carbon on cow-calf grazing land. The dynamic model nests a within-year rotation problem inside a Bellman equation to derive its steady-state value. To supply the functional forms the theory leaves open, we couple a process-based soil-carbon model directly with an animal-nutrition model and an economic module, and we demonstrate the framework at a single 60-hectare cow-calf site in Michigan.With rotation, cattle graze specific paddocks over short time periods, allowing the paddocks to recover between grazing periods. At high stocking rates (2 livestock units per hectare), the forage recovered from rotation more than repays additional fencing and labor costs and the present value of profits over ten years increases by 7.1 percent compared to grazing without rotation. At lower stocking rates, the forage recovered does not repay the added fencing and labor. At all rates considered, resting paddocks longer retains more soil carbon than grazing without rotation. |
| Keywords: | Agricultural and Food Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404363 |
| By: | Merk, Christine; Nordø, Åsta Dyrnes; Andersen, Gisle |
| Abstract: | * Citizens across five North Sea countries (Denmark, Germany, the Netherlands, Norway, the UK; N = 9, 750) consistently rate cross-border electricity and CCS infrastructure projects more negatively than identical domestic projects, a robust "trade penalty". * The direction of opposition depends on the good being traded: for electricity, exporting attracts the strongest resistance; for CO2 storage, it is importing. Electricity is perceived as a valuable national resource, CO2 as foreign waste. * The trade penalty is not driven by fears of import dependence: respondents who value energy independence object most strongly to electricity exports, not imports. The underlying concern is national control over resources, not supply security. * Neither climate concern nor general support for international cooperation overrides the preference for domestic solutions. Citizens who see decarbonization as a national responsibility (88 percent of respondents) show the strongest trade penalty. * Expectations of concrete economic benefits, such as jobs or lower energy prices, improve acceptance of cross-border projects. This points to a communication lever that climate framing alone does not offer. * Policymakers should foreground domestic benefits, make the costs of purely national solutions visible, establish transparent rules for sharing costs and benefits across countries, and calibrate communication to each technology. |
| Keywords: | Cross-border infrastructure, Public acceptance, Carbon capture and storage (CCS), Electricity grid integration, Resource nationalism, EU climate policy, Grenzüberschreitende Infrastruktur, öffentliche Akzeptanz, Kohlenstoffabscheidung und -speicherung (CCS), Integration in das Stromnetz, Ressourcen-Nationalismus, EU-Klimapolitik |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:ifwkpb:342557 |
| By: | Schneider, Eric B. |
| Abstract: | This paper examines how acute pollution exposure in historical London (1892–1919) affected child health. I proxy acute, extreme pollution exposure using daily data on fog events, which reflect meteorological conditions where pollution emitted in the city was not dispersed across space leading to a sharp spike in pollution. I also use rich individual-level data on child health drawn from the Queen Charlotte Hospital, a maternity hospital, and the Foundling Hospital, an orphanage. I find no effect of pollution exposure at birth on birth or growth outcomes or on upper respiratory morbidity. However, exposure on the day of birth had persistent effects on health, increasing mortality risk in childhood and adolescence from respiratory diseases and raising incidence, prevalence and sickness duration of influenza and measles. There was no persistent effect of in utero and postnatal pollution exposures. These mixed results show that extreme pollution at birth had lasting impacts on specific, but also limited, dimensions of child health. |
| Keywords: | ambient air pollution;morbidity;child growth;respiratory disease;health transition |
| JEL: | N33 Q53 |
| Date: | 2026–07–16 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:140269 |
| By: | Osman, Eliyasu Y.; Bergtold, Jason S.; Lindamood, Jackson; Caldas, Marcellus M. |
| Abstract: | Expanding solar energy production requires access to land; however, relying on productive farmland raises concerns about competing with food production. Identifying alternative sites, such as Conservation Reserve Program (CRP) lands or marginal lands, offers an alternative sustainable solution. Yet, little is known about how much compensation landowners require to lease such lands for small-scale solar installations. This study examines the determinants of farmers' willingness to accept (WTA) payments for solar leases on CRP or marginal lands in the U.S. Southern Great Plains. Using survey data and a heteroskedastic interval regression model, results show a mean WTA of $665 per acre per year, with significant heterogeneity across states and farmer characteristics. Rangeland area and livestock ownership increase WTA, while CRP participation lowers it. Higher pastureland rental rates also significantly reduce WTA, and state fixed effects indicate notably lower WTA in Colorado and New Mexico. Perceptions of renewable technologies and land-use intensity further shape compensation demands. These findings offer guidance for policymakers and solar developers in structuring lease offers tailored to land type, regional context, and market conditions. |
| Keywords: | Resource /Energy Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404750 |
| By: | Efing, Matthias; Ehmann, Stefanie; Kampkötter, Patrick; Moritz, Raphael |
| Abstract: | This paper examines the integration of ESG performance metrics into executive compensation using a detailed panel dataset of European executives. Despite becoming more widespread, most ESG metrics are largely discretionary, carry immaterial weights in payout calculations, and contribute little to executive pay risk. Such ESG metrics with arguably weak incentive power are common in financial firms and large companies, particularly for their most visible executives, which seems consistent with greenwashing. In contrast, binding ESG metrics with significant weights, which have potential to influence incentives, are only found in sectors with a large environmental footprint. |
| Keywords: | Executive compensation; ESG; Sustainability; Incentive contracting; Optimal contracts |
| JEL: | G30 G35 J33 M12 M52 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19610 |
| By: | Hizliok, Setenay; Scheer, Antonina; Nuzzo, Carmen |
| Abstract: | Assessing Sovereign Climate-related Opportunities and Risks (ASCOR) is an investor-led initiative launched to provide comprehensive and comparable assessments on how countries are managing the low-carbon transition as well as the physical risks stemming from climate change. ASCOR aims to inform, support and facilitate investment decision-making, especially by sovereign bondholders, and enable a more explicit consideration of climate change at the national level. In 2023, following a public consultation, the TPI Global Climate Transition Centre (TPI Centre) at the London School of Economics (LSE), launched the ASCOR framework: methodology note Version 1.0 and the ASCOR tool, which included the first assessments of 25 pilot countries. In 2024, this was expanded to 70 countries, and in 2025, to 85 countries, using updated versions of the methodology note (Version 1.1 and Version 1.2), respectively. The TPI Centre conducted a second public consultation between December 2025 and February 2026 to revisit the framework and gather feedback on larger proposed methodological changes than in previous versions. |
| JEL: | N0 F3 G3 |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:140354 |
| By: | Martin, Reiner; Monnin, Pierre |
| Abstract: | Buildings account for approximately 40% of the EU’s total energy consumption and around one-third of its energy-related greenhouse gas emissions. Therefore, if the EU’s climate strategy is to succeed, it will need to improve the energy performance of Europe’s building stock. The task is particularly urgent given that 75% of the building stock is energy-inefficient, and nearly one-fifth of the EU population live in homes that are not comfortably warm in winter. This policy brief draws on new research covering Slovakia, Latvia and Hungary to explore how borrower-based measures (BBMs) can support energy-efficient renovation. The authors argue that significant increases in renovation finance need not involve a trade-off with financial stability. |
| JEL: | N0 F3 G3 R14 J01 |
| Date: | 2026–07–21 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:140308 |
| By: | Luis E. Gonzales (Central Bank of Chile); Koichiro Ito (University of Chicago and NBER); Mar Reguant (IAE-CSIC, Northwestern, CEPR, and NBER) |
| Abstract: | Electricity reliability is a central challenge for the energy transition, as growing energy demand, renewable energy integration, and natural disasters increase the risk of large-scale blackouts. However, the economic impacts of large-scale blackouts remain largely unknown. Combining electricity market data with high-frequency economic transaction data from Chile, we find that economic activity declined by 35 percent on the nationwide blackout day, but half of this loss was recovered on subsequent days, highlighting the importance of intertemporal substitution. Exploiting spatial variation in blackout severity, we show that accounting for endogenous recovery is critical when estimating the marginal value of lost load. |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:bfi:wpaper:2026-53 |
| By: | Vakil, Mohd Kamil; Mukherjee, Deep; Almeida, Alexandre Nunes |
| Abstract: | This study evaluates the economic impact of Zero Tillage (ZT) adoption on wheat production in Bihar, a key agricultural region in India’s Indo-Gangetic Plains. Zero Tillage practices, which eliminate plowing and enable direct seeding, hold promise for reducing production costs and enhancing resilience amid growing challenges such as climate variability, soil degradation, and labor scarcity. Despite its potential, ZT adoption in Bihar has been uneven, hindered by limited access to equipment and uncertainty regarding its performance. Using panel data from 961 wheat-producing households across four agricultural seasons, the study applies a difference-in-differences approach that accounts for staggered adoption and time-varying treatment effects. The results show that the timing of adoption significantly influences outcomes: early adopters experienced short-term productivity gains and reduced input use, but these effects weakened in years with adverse weather. In contrast, later adopters demonstrated more consistent improvements in productivity and efficiency, likely reflecting learning effects and better environmental alignment. Robustness checks using placebo tests reinforce the credibility of the findings. This research provides valuable insights for policies aimed at promoting sustainable and climate-resilient agriculture in vulnerable regions of South Asia. |
| Keywords: | Productivity Analysis, Research and Development/Tech Change/Emerging Technologies |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404711 |
| By: | Kilian, Lena; Owen, Anne; Hoekstra, Rutger |
| Abstract: | The UK’s Multi-Regional Input-Output database (UKMRIO) is used to calculate the UK’s material footprint as well as a number of other environmental and economic indicators. The UKMRIO is constructed from National Accounts data from the UK’s Office for National Statistics, as well as from international trade data from a global Multi-Regional Input-Output (GMRIO) databases. As research on the UK’s carbon and greenhouse gas footprints has recommended switching the GMRIO input data from FIGARO to EXIOBASE, this research aims to understand the impacts of this switch on the material footprint. This analysis is particularly timely and necessary, as these databases have very different levels of disaggregation of the mining and quarrying sector – a key sector for the material footprint. While EXIOBASE subdivides this into 14 distinct sectors, FIGARO contains only a single mining and quarrying sector. The UK National Accounts, which make up the UK’s economic data in the UKMRIO, on the other hand contain 4 sectors for mining and quarrying. To assess the impact of this switch, this report undertakes two analyses. First, we aim to understand the impact of aggregating mining on the material footprint by calculating the UK’s consumption-based material footprint from EXIOBASE with mining and quarrying disaggregated to 1, 4, and 14 sectors. Second, we assess the impact of using FIGARO data in the UKMRIO on the UK’s material footprint and provide recommendations for method improvements. Our findings show that while 4 mining sectors provide a good approximation of 14 mining sectors, having only a single mining sector overestimates the UK’s material footprint. We therefore provide a new method which uses EXIOBASE proportions to disaggregate FIGARO’s single mining sector into 4 distinct sectors. Using the disaggregated version of the FIGARO dataset provides a practical solution to improve both the material and the carbon footprints. |
| Keywords: | Multi-regional input-output analysis; environmental accounting; materials footprint; carbon footprint |
| JEL: | Q56 Q57 |
| Date: | 2025–08–21 |
| URL: | https://d.repec.org/n?u=RePEc:eoe:escoet:escoe-tr-30 |
| By: | Agarwal, Sarthak; Chatterjee, Somdeep; Manchanda, Manhar |
| Abstract: | How do voters respond to adverse climatic shocks? We study this question in India, where voters can cast a formal "None of the Above" (NOTA) ballot, allowing us to distinguish pure protest voting from directed electoral sanctioning. We combine assembly-constituency election data from 2013-2023 with highfrequency satellite-based data on temperature, precipitation, and agricultural productivity. We first show that high temperature exposure is negatively associated with satellite-measured agricultural productivity. Further, temperature shocks increase turnout, but do not increase NOTA vote shares. Instead, they reduce the vote shares of recontesting incumbents and ruling-party candidates. Regular degree days reduce both turnout and NOTA vote shares. Heterogeneity analyses show that agricultural dependence shapes the participation response, while unirrigated agriculture mediates NOTA responses. Overall, the results suggest that climate shocks mobilize voters and produce targeted electoral punishment, rather than leading voters to express generalized dissatisfaction through pure protest voting. |
| Keywords: | Elections, Protest Voting, Temperature Shocks, NOTA |
| JEL: | D72 O13 Q54 P48 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:glodps:1789 |
| By: | Lueras, Ruby |
| Abstract: | Climate change is expected to reduce the productivity of traditional sugar maple forests across much of the United States, creating challenges for maple syrup producers and motivating interest in climate adaptation strategies. One potential adaptation strategy is the diversification of sugarbushes with alternative sap-producing tree species such as birch and beech. However, the market viability of these products depends on consumer acceptance. This study examines consumer willingness to pay (WTP) for diversified syrup blends and evaluates whether climate-related information influences purchasing behavior. Using a Becker-DeGroot-Marschak (BDM) experimental auction, 191 participants submitted bids for pure maple syrup, a maple-birch blend, and a maple-birch-beech blend across three rounds: a blind tasting round, a composition disclosure round, and an information treatment round. Participants were randomly assigned to either a neutral control, a forest diversification treatment, or a place-based climate information treatment. Results indicate that consumers generally preferred products more closely resembling traditional maple syrup, with pure maple syrup receiving the highest bids and maple-birchbeech blends receiving the lowest. Revealing syrup composition significantly increased bids relative to blind tasting, while the climate-related information treatments did not significantly affect willingness to pay. Regression results further suggest that taste preferences were the strongest and most consistent predictor of bidding behavior. These findings indicate that consumer acceptance of diversified syrup products is driven primarily by sensory characteristics rather than climate-related messaging, highlighting the importance of product quality in the successful commercialization of climate-adapted food products. |
| Keywords: | Research Methods/ Statistical Methods |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404523 |
| By: | Mr. Kangni R Kpodar; Alassane Drabo; Carine Meyimdjui |
| Abstract: | This paper investigates the impact of natural disasters on the domestic sovereign yield curve, shedding light on their distinct transmission channels. Using a sample of 72 developing countries during the period 2000-20, and leveraging a newly compiled dataset on domestic treasury bill and bond yields, the findings from the fixed-effects and the local projection difference in difference estimations point to a disaster premium in the pricing of domestic government securities. While natural disasters significantly steepen the yield curve, their effects are confined to short-term maturity debts. In constrast, a worsening in climate vulnerability shifts upward the entire yield curve. Heightened fiscal stress and monetary policy stance emerge as the main transmission channels. These results underscore the importance of integrating resilience building into debt management and fiscal policy frameworks. |
| Keywords: | Natural disasters; sovereign risk; yield curve |
| Date: | 2026–07–03 |
| URL: | https://d.repec.org/n?u=RePEc:imf:imfwpa:2026/139 |
| By: | Olivier Lepiller (UMR MoISA - Montpellier Interdisciplinary center on Sustainable Agri-food systems (Social and nutritional sciences) - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - IRD - Institut de Recherche pour le Développement - CIHEAM-IAMM - Centre International de Hautes Etudes Agronomiques Méditerranéennes - Institut Agronomique Méditerranéen de Montpellier - CIHEAM - Centre International de Hautes Études Agronomiques Méditerranéennes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); Estelle Fourat (MSH Sud - Maison des Sciences de l'Homme "Les Sciences Unies pour un autre Développement" - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - CNRS - Centre National de la Recherche Scientifique - IRD [Occitanie] - Institut de Recherche pour le Développement - délégation Occitanie - IRD - Institut de Recherche pour le Développement - UM - Université de Montpellier - UMPV - Université de Montpellier Paul-Valéry) |
| Keywords: | Food System |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05686462 |
| By: | Bambe, Bao-We-Wal; Tamasiga, Phemelo |
| Abstract: | Climate mitigation and adaptation require substantial investment to advance sustainable development. In low- and middle-income countries (LMICs), mobilising such finance is particularly challenging for small and medium-sized enterprises (SMEs) due to persistent market failures, including limited financial disclosure and weak credit-risk information. High upfront costs, uncertain returns and weak regulatory frameworks further constrain adoption of low-carbon technologies. While fiscal constraints and the capital-intensive transition underscore the need for private capital, traditional bank financing is restricted by long project horizons, high risk and macroeconomic instability. Blended finance and guarantees are key instruments for mobilising private investment in LMICs. Blended finance combines concessional public resources with private or additional public capital to mitigate profitability risks, while guarantees reduce perceived risk by covering partial losses, particularly for non-commercial risks. This policy brief assesses their role in scaling SME climate finance, alongside their limitations and context-specific applicability. Evidence suggests that leverage effects, especially for blended finance, are more modest than often assumed and are context dependent; nonetheless, these instruments remain relevant for de-risking SME finance, contingent on improved design and implementation. The policy brief advances the following recommendations: - Financial intermediaries should prioritise SMEs facing binding financing constraints that prevent projects with clear socio-economic and environmental benefits. Project selection should integrate financial and climate vulnerability, though assessment remains difficult in low-income countries (LICs). De-risking instruments should target specific constraints, with guarantees mitigating risks and blended finance supporting projects with insufficient risk-adjusted returns to attract private capital. Multilateral development banks (MDBs) and development finance institutions (DFIs) should ensure additionality, minimise concessionality and strengthen monitoring and transparency. - MDBs and DFIs should better align donor incentives with effective risk-sharing and flexible financing structures. Concessional senior loans dominate blended finance but have limited loss absorption, reducing effectiveness in high-risk environments. A more balanced mix, including subordinated debt, equity and guarantees, can improve risk allocation and crowd in private investors. Greater use of special purpose vehicles and off-balance-sheet structures can further expand financing capacity in fragile contexts. - MDBs and DFIs should strengthen coordination, standardisation and local engagement. Fragmentation in blended finance and guarantees increases complexity and transaction costs and deters institutional investors. Greater harmonisation across MDBs, DFIs and private investors would improve capital allocation and complementarity, while standardised procedures and contracts would streamline project preparation and scaling in LMICs. Governments in LMICs should address structural constraints, with MDBs and DFIs providing complementary de-risking and capacity-building support. Weak investment climates, shallow financial markets, poor project pipelines and weak credit information systems reduce the effectiveness of blended finance and guarantees, particularly in LICs. Governments should strengthen investment climates, deepen financial markets and improve SME capabilities, while MDBs and DFIs support local intermediaries and broader reforms. |
| Keywords: | Blended finance, guarantees, small and medium-sized enterprises, green finance, low- and middle-income countries, SDGs |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:idospb:342586 |
| By: | Liu, Mengqiao; Chen, Yayun; Fei, Chengcheng; Wang, Xingguo; Cheng, Muxi; McCarl, Bruce |
| Abstract: | Climate change threatens livestock productivity primarily through heat stress, the combined physiological burden of elevated temperatures and atmospheric moisture. Existing empirical studies commonly rely on scalar composite indices such as the Temperature–Humidity Index (THI), which impose restrictive functional forms, cannot capture nonlinear or asymmetric joint responses to temperature and humidity, and may underestimate the effects of cold and dry weather. This study introduces a twodimensional Chebyshev polynomial framework that flexibly models the joint distribution of temperature and atmospheric moisture and its effects on livestock productivity. Applying this framework to state-level U.S. data from 1980 to 2024, we estimate climate effects on eight outcomes spanning major livestock types and production stages: cattle weight, calf survival rates, hog weight, piglet survival rates, litter size, broiler weight, rate of lay, and milk production per cow. Results reveal that early-life outcomes, such as calf and piglet survival rates, are markedly less sensitive to temperature–humidity stress than adult weight or output measures. Poultry outcomes are relatively stable, consistent with the buffering role of climate-controlled housing. Future projections indicate that hog weight, cattle weight, and milk yield will experience the largest losses, especially in summer and in the Southeast, where heat-stress exposure is projected to increase. |
| Keywords: | Productivity Analysis, Research and Development/Tech Change/Emerging Technologies |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404716 |
| By: | Heys, Richard; Taylor, Cliodhna |
| Abstract: | It is well known that Gross Domestic Product (GDP) is an incomplete measure of economic welfare. In particular, it excludes the value associated with natural and human capital. This paper develops two new measures, Gross and Net Inclusive Income as analogues to GDP and Net National Disposable Income (NNDI), using internally consistent National Accounts methods and existing data-sources to extend the scope of welfare measurement. Using exchange values, GII and NII do not incorporate externalities but do clarify trade-offs between the economic, environmental and social domains. This paper also presents and comments on experimental results. For example, after adjusting for atmospheric degradation, growth in the UK’s NII between 2008 and 2019 is faster than GDP growth, as traditional measures exclude efforts to reduce carbon emissions, suggesting that traditional productivity measures which exclude efforts to reduce carbon emissions may underestimate the extent of innovation in the UK. |
| Keywords: | National Accounts; welfare; income; official statistics; economic measurement; modern economy; capital; time use |
| JEL: | A13 E01 E21 E22 I31 |
| Date: | 2024–12–17 |
| URL: | https://d.repec.org/n?u=RePEc:eoe:escoed:escoe-dp-2024-19 |
| By: | Bernardo X. Fernández-Tellería (British Embassy in Bolivia); Leticia Victoria Castedo Michel (University of Padova, Italia) |
| Abstract: | Sustainable finance is consistently gaining relevance in financial markets across the world including Bolivia, a coun-try where more than seventy percent of the population live in urban areas. Even though municipalities should be a top destination of sustainable funding to address the country’s most urgent development challenges, they have struggled to access the local financial market mainly due to their highly heterogeneous financial strength. To address this, the paper proposes a novel financing scheme that combines the notion of horizontal fiscal equalization – a redistributive approach to transfer resources from richer to poorer jurisdictions to mitigate size and development differences – and the principles of sustainable finance to face major development challenges associated with poverty, inequality and climate change vulnerability. To illustrate this, the paper estimates and characterizes the rela-tive financial strength of Bolivia’s ten main municipalities and shows that three well-known investment vehicles amenable to the notion of horizontal fiscal equalization can be effectively used for channeling much needed sustainable funding to local governments. In effect, the proposed financing scheme could increase financial inclusion amongst Bolivian municipalities and channel much needed funding to significantly enhance the country’s efforts to achieve its climate commitments and development goals. |
| Keywords: | sustainable finance, fiscal equalization, municipal-ities, financial inclusion. |
| JEL: | Q01 G1 G18 H63 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:iad:wpaper:0625 |
| By: | Engist, Dennis; Englander, Gabriel; Lee, Alan; Noack, Frederik |
| Abstract: | Protected areas cover 17% of the world’s land surface, yet credible evidence on their long-run economic and ecological impacts remains scarce. This paper estimates the effects of South Africa’s protected areas on household income, bird biodiversity, and tourism consumer surplus. For the income and biodiversity analyses, it develops a machine-learning counterfactual approach that recovers the present-day impacts of protected areas created up to 100 years ago. Short-run impacts of newer protected areas are small and statistically insignificant, while older protected areas generate large gains. Prior research may have severely underestimated the benefits of protected areas by only estimating the short-run effects of newly established protected areas. In aggregate, this paper estimates that protected areas increase annual household income by approximately R300 billion (roughly 10% of 2011 GDP). This yields approximately 7.6 million job-equivalents attributable to South Africa’s protected areas. Different types of protected areas play complementary roles in conserving different categories of threatened birds, demonstrating the value of South Africa’s entire protected area network. A structural travel cost model estimates that South Africa’s national parks generate R7.7 billion per year (2023 rand) in recreational value for domestic and international tourists. These results suggest that in South Africa there is little tradeoff between wildlife conservation and economic development. Realizing the economic and ecological benefits of protected areas, however, requires patience: returns to conserva tion accumulate over decades, not years. |
| Date: | 2026–07–23 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wbrwps:11430 |
| By: | Danish A Ahmed (GUST - Gulf University for Science and Technology); Corey J A Bradshaw (Australian Research Council Centre of Excellence for Indigenous and Environmental Histories and Futures, Flinders University [Adelaide, Australia]); Noor Tahat (GUST - Gulf University for Science and Technology); Emma J Hudgins (Carleton University - Department of Biology [Ottawa] - Carleton University, University of Melbourne); Pierre Courtois (CEE-M - Centre d'Economie de l'Environnement - Montpellier - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier); Philip E Hulme (Lincoln University [Nouvelle-Zélande]); Yuya Watari (FFPRI - Forestry and Forest Products Research Institute); Ali Serhan Tarkan (University of Lódź = Uniwersytet Łódzki); Ismael Soto (University of South Bohemia [České Budějovice, Czechia]); Phillip J Haubrock (University of South Bohemia [České Budějovice, Czechia], BU - Bournemouth University [Poole]); Paride Balzani (University of South Bohemia [České Budějovice, Czechia]); Ross N Cuthbert (QUB - Queen's University [Belfast]) |
| Abstract: | Biological invasions threaten biodiversity, economic stability, and public health, exacerbated by intensive global trade and transport. The economic costs of these invasions have exceeded US$2 trillion globally and continue to increase. Although past invasion costs have been described across various contexts, there are few robust projections of future costs, limiting effective management planning. We developed a mathematical framework to project future economic damage caused by biological invasions, combining cost-density relationships with a density-time function based on logistic population growth. We tested the model on five well-documented non-native mammal species in Japan, a country with long-term, high-resolution invasion cost records and a |
| Keywords: | impact projections, InvaCost, invasion management, logistic growth, non-native species, economic costs, damage modeling, biological invasions |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05690638 |
| By: | Carattini, Stefano; Chatterjee, Anomitro; Cherry, Todd |
| Abstract: | Biased beliefs affect real-world decisions, including political solutions to societal challenges. One crucial example is environmental policy: people tend to underestimate the incentive effect of Pigouvian policies. Addressing biased beliefs at scale is then paramount. In the days leading up to a ballot initiative in Washington state, we implemented a large-scale field experiment providing information on carbon taxes to over 285, 000 individuals. We complemented it with a survey experiment of about 1, 000 individuals, with the same treatments as in the field experiment, shedding light on social desirability bias and mechanisms around belief revision. Using data at the voting precinct level, we show that our intervention increases revealed support for carbon taxes, mainly for a treatment centered around earmarking of tax revenue, which was one of the design features of the ballot initiative. We find the effect to be stronger in precincts relatively opposed to the initiative, and less exposed to media coverage of carbon taxes, and more exposed to coverage challenging their effectiveness. |
| Keywords: | Carbon taxes; Voting behavior; Facebook ads; Natural field experiments |
| JEL: | C93 D72 D82 H23 Q54 |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19850 |
| By: | Hettiarachchi, Upeksha; Nehring, Ryan; Zhang, Wei; Davis, Kristin E.; Einbinder, Aron; Gelli, Aulo |
| Abstract: | School meal programs (SMPs) are among the largest public investments in child well-being worldwide, and they have untapped potential to act as levers for sustainable food systems transformation. This discussion paper provides an overview of evidence on linkages between regenerative agriculture and SMPs, and also presents a framework to guide future analytical work on integrating regenerative agriculture and SMPs for food systems transformation. We conducted a scoping review using the Preferred Reporting Items for Systematic Reviews and Meta-Analyses extension for Systematic Reviews (PRISMA). The reviewed literature reveals a geographically diverse but uneven distribution of research on how SMPs incentivize regenerative agriculture. The review reports emerging evidence on the ability of SMPs to generate positive outcomes for livelihoods and community development. That evidence, however, is limited in scope as it is dominated by studies on Brazil’s SMP. Beyond Brazil, our review found no evidence that conclusively establishes a causal relationship between SMPs and the uptake of regenerative agriculture. Much of the literature focuses on smallholder procurement, organic production, or agroecological practices more broadly, with relatively few studies explicitly measuring regenerative outcomes such as soil health restoration, biodiversity gains, or carbon sequestration. |
| Keywords: | school feeding; regenerative agriculture; environment; nutrition; Brazil; South America |
| Date: | 2026–07–16 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:ifprid:183803 |
| By: | Weston, Alexander; Tyson, Judith |
| Abstract: | Social risks are underexplored in mainstream climate change analysis and largely excluded from the analytical work of institutions such as the Network for Greening the Financial System (NGFS). Yet they are widely recognised as a material consequence of climate change. The Intergovernmental Panel on Climate Change (IPCC), for example, has linked climate change to adverse outcomes including food insecurity, migration and conflict. Social risks are the potential adverse effects of events or circumstances on the welfare of individuals and societies, and on the stability and cohesion of the social fabric. They range from effects on jobs, income, assets, education and health at the individual level, to broader ‘social-macro’ consequences such as social and political instability, civil unrest, migration and conflict. This report provides an initial investigation of climate-related social risks and their consequences for the economy and financial sector, focusing on one salient risk – climate-related food price inflation. It aims to contribute to efforts to better understand and incorporate social risks into climate change discourse and the analytical work of relevant international bodies. |
| JEL: | N0 |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:140166 |
| By: | Myriam Kessari (UMR MoISA - Montpellier Interdisciplinary center on Sustainable Agri-food systems (Social and nutritional sciences) - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - IRD - Institut de Recherche pour le Développement - CIHEAM-IAMM - Centre International de Hautes Etudes Agronomiques Méditerranéennes - Institut Agronomique Méditerranéen de Montpellier - CIHEAM - Centre International de Hautes Études Agronomiques Méditerranéennes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement, CIHEAM-IAMM - Centre International de Hautes Etudes Agronomiques Méditerranéennes - Institut Agronomique Méditerranéen de Montpellier - CIHEAM - Centre International de Hautes Études Agronomiques Méditerranéennes); Magalie Marais (Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School); Maryline Meyer (Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School); Florence Palpacuer (UM - Université de Montpellier, MRM-ORGA - Montpellier Research in Management - Organisations - MRM - Montpellier Research in Management - UPVD - Université de Perpignan Via Domitia - UM - Université de Montpellier, MRM-MPR - Management et Pratiques Responsables - MRM - Montpellier Research in Management - UPVD - Université de Perpignan Via Domitia - UM - Université de Montpellier); Leïla Temri (UMR MoISA - Montpellier Interdisciplinary center on Sustainable Agri-food systems (Social and nutritional sciences) - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - IRD - Institut de Recherche pour le Développement - CIHEAM-IAMM - Centre International de Hautes Etudes Agronomiques Méditerranéennes - Institut Agronomique Méditerranéen de Montpellier - CIHEAM - Centre International de Hautes Études Agronomiques Méditerranéennes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); Marie Walser (Chaire Unesco Alimentations du Monde - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement) |
| Abstract: | There are two forms of corporate commitment within the food system: the Social and Solidarity Economy (SSE) and Corporate Social Responsibility (CSR). While these two movements have developed independently of each other, at present both are contributing to the transformation of food systems. Among the many actors able to influence the sustainability of food systems, businesses have a key role to play. Their ways of doing so are as diverse as the companies themselves, which differ in both their functions (production, processing, distribution, services etc.) and their profiles (status, size, mission, geographical location, mode of governance etc.). The question then becomes how much room for manoeuvre these companies have, what their motivations are and which concomitant forms of commitment to food system sustainability exist (Marais, 2014). The economic, social and environmental responsibility approaches of companies operating in the food system follow two main routes: the social solidarity economy (SSE) and corporate social responsibility (CSR). This chapter looks at the benefits and limitations of these two frameworks and discusses the opportunities afforded by their articulation. |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05695883 |
| By: | Fulvia Marotta; Giorgio Rossetto; Lennard Schlattmann |
| Abstract: | This paper estimates the macroeconomic effects of green and brown government spend-ing using public procurement data, focusing on how spending composition reshapes the energy sector. Classifying around 171, 000 contracts by product codes, we con-struct a quarterly panel of green and brown procurement for ten Eurozone economies (2011–2023). We identify spending shocks using the institutional timing of contract award announcements, which is plausibly orthogonal to the business cycle, and es-timate impulse responses with panel local projections. Green and brown procure-ment have near mirror-image effects on the energy sector: green procurement lowers energy prices, reduces energy-sector output, and cuts oil import dependence, while brown procurement raises energy prices and depresses innovation, especially green patenting. These differences extend to aggregate output: the cumulative GDP multi-plier of green procurement is about 0.7 on impact and exceeds 1 within one and two years, whereas the brown multiplier remains statistically indistinguishable from zero over the first two years. |
| Keywords: | Green public procurement; Energy transition; Fiscal multipliers |
| JEL: | E62 Q43 Q48 |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:dnb:dnbwpp:866 |
| By: | Aoki, Yu (University of Aberdeen); Arulampalam, Wiji (University of Warwick); Lloyd, Neil (University of St Andrews) |
| Abstract: | We estimate the causal effect of exposure to fast-food outlets on adolescent z-BMI using the UK Millennium Cohort Study linked to comprehensive geospatial data. We develop a novel approach to modelling z-BMI persistence by clustering early childhood z-BMI trajectories, allowing us to distinguish baseline obesity susceptibility from contemporaneous environmental effects. Identification exploits the near-universal transition from primary to secondary school, generating plausibly exogenous variation in exposure to fast-food outlets around schools. We find that adolescents with at least one major-brand outlet near school have, on average, a 0.158 standard-deviation higher z-BMI. Effects decline with distance, are limited around the home, and do not extend to other food outlets. |
| Keywords: | adolescent obesity, body mass index, fast food, school food environment |
| JEL: | I12 I18 R14 |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18770 |
| 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 offers a narrative and discourse synthesis of academic literature, government and institutional statements, and news media coverage that spans 2015–2025, and examines how stakeholders framed disaster causation, attributed responsibility, and constructed narratives about urban vulnerability. Recurring patterns across these sources include persistent infrastructure inadequacy, conflicting attributions of blame between government and academic accounts, chronic emergency response capacity constraints, stigmatizing framing of informal settlements, limited emphasis on climate change relative to governance failures, and a widening gap between stated policy commitments and implementation outcomes. Academic discourse evolved toward structural analysis that situates vulnerability within the dynamics of informal urban development, while government discourse remained focused on behavioral factors. May 2025 flooding killed four people, one in Abokobi and three in Adenta, and displaced over 3, 000 people almost exactly ten years after 2015. This pattern indicates that stated policy commitments did not translate into improved outcomes. The National Disaster Management Organisation (NADMO) publicly acknowledged inadequate relief resources, a statement in apparent tension with a decade of capacity-building rhetoric. Survey research finds that 52 % of households attribute flooding to weak enforcement of land use regulations, with no statistical correlation to rainfall intensity, while a separate citizen-science study found that 59 % of flooded zones in Accra are deprived communities where formal risk models often underestimate vulnerability. Evidence on community response indicates residents are neither passive victims nor simply unprepared, but active agents adapting with constrained resources and often more accurate local knowledge than formal risk models capture. Implementation gaps appear to reflect weak accountability mechanisms, limited institutional capacity, political incentive structures that favor short-term projects, and insufficient civil society monitoring. Emerging partnerships, including I-DIEM, which emphasizes equity-centered approaches, and FAO, which promotes community-based response, represent potential transformation directions, though their effectiveness depends on sustained commitment and genuine institutional change. Keywords: disaster management, discourse analysis, urban flooding, Ghana, emergency response, urban vulnerability, institutional accountability |
| Date: | 2026–07–04 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:rqdz3_v1 |
| By: | Stephen Littlechild; Ross Baldick |
| Keywords: | Transmission planning, CREZ, ERCOT, renewable energy zones, negotiated settlements, cost allocation, anticipatory investment |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:enp:wpaper:eprg2616 |
| By: | Sandra Bilek-Steindl; Thomas Url (WIFO) |
| Abstract: | Die 17 "Sustainable Development Goals" (SDG) der Vereinten Nationen streben eine globale nachhaltige Entwicklung auf ökonomischer, ökologischer und sozialer Ebene an. Der vorliegende Research Brief liefert eine Aktualisierung des frühzeitigen Monitorings von SDG 8 für Österreich. Aufbauend auf dem jährlichen SDG-Monitoring von Eurostat und unter Berücksichtigung der aktuellen Entwicklung in Österreich auf Basis der WIFO-Konjunkturprognose und von Nowcasts wird eine Einschätzung der Zielerreichung für die Periode 2021 bis 2026 vorgenommen. Die Konjunkturerholung wirkt positiv auf einige Indikatoren. So fällt die aktuelle Bewertung des realen BIP pro Kopf, der Erwerbstätigenquote, der Langzeitarbeitslosigkeit sowie der tödlichen Arbeitsunfälle positiv aus, jene der Jugendarbeitslosigkeit sowie der Investitionsquote bleibt hingegen negativ. Bei den Zusatzindikatoren fällt die Bewertung der Armutsgefährdungsquote von Erwerbstätigen ebenfalls negativ aus, jene des Rohstoffverbrauchs hingegen positiv. |
| Date: | 2026–07–17 |
| URL: | https://d.repec.org/n?u=RePEc:wfo:rbrief:y:2026:i:6 |
| By: | Eickmeier, Sandra; Petersen, Luba |
| Abstract: | Central banks, including the European Central Bank (ECB), are increasingly involved in climate-related initiatives. This study uses a June 2023 survey of German households to gauge public support for the ECB’s climate engagement. Our findings reveal that 69% of households report increased trust in the ECB due to its climate actions, with most noting a mild boost in trust. These households primarily value the ECB’s broader scope and concern. A minority, comprising 17% and 20% respectively of all households, express concerns about potential compromises to price stability or independence. In contrast, a larger group (23% of all households) believes that the ECB’s climate efforts help the institution better achieve its core objectives. Additionally, our analysis of an information intervention reveals that the ECB’s climate actions have minimal effect on overall household inflation expectations. Finally, an internal survey of central bankers reveals that while they accurately gauge the ECB’s climate activities’ effect on households’ trust, they tend to overestimate their impact on inflation expectations. In sum, our results indicate public endorsement of the ECB’s climate-related endeavors. |
| JEL: | E7 E59 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19549 |
| By: | Fetzer, Thiemo; Palmou, Christina; Schneebacher, Jakob |
| Abstract: | We study how businesses adjust to significant rises in energy costs. This matters for both the current energy crisis and the longer-term shift towards Net Zero. Using firm-level real-time survey and administrative data backed by a pre-registered analysis plan, we examine how firms respond to the energy price shock triggered by Russia’s invasion of Ukraine along output, price, input, process and survival margins. We find that, on average, fi rms pa ss on some cost increases, build up cash reserves, and face higher debt, but do not yet see layoffs or bankruptcies. However, effects are highly heterogeneous by size and industry: for instance, small firms tend to increase cash reserves and prices, while large firms invest more in capital. We estimate separate elasticities for many small industry cells and subsequently use k-means clustering techniques on the estimated effects to identify high-dimensional firm-adaptation archetypes. These estimates can help tailor firm support in the energy transition both in the short and the long term. More generally, the machinery developed in this paper enables policymakers to evaluate and adjust economic policy in near-real time. |
| Keywords: | energy price shock; firm dynamics; climate change; high-dimensional analysis |
| JEL: | D24 H23 L11 O30 |
| Date: | 2024–11–14 |
| URL: | https://d.repec.org/n?u=RePEc:eoe:escoed:escoe-dp-2024-15 |
| By: | Baleyte, Jules; Bazot, Guillaume; Monnet, Eric; Morys, Matthias |
| Abstract: | Are temporary high-temperature anomalies supply or demand shocks? And how do central banks respond to them? We investigate these questions with a new historical dataset covering 14 European countries over a full century and accounting for nonlinearities via state-dependent impulse response functions in the vein of Auerbach and Gorodnichenko (2012). The following stylized facts emerge: 1) a high temperature shock is a negative supply shock (lower output growth and higher inflation); 2) the impact is usually less pronounced - but more persistent - on inflation than on output; 3) central banks have responded to these shocks by lowering their interest rate; 4) the macroeconomic impact of individual high temperature shocks on inflation has diminished over time, but the frequency of these shocks has increased. |
| Keywords: | Supply shocks; Climate shocks; Climate change mitigation; Climate policy; Monetary policy; Inflation |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19682 |
| By: | Kang, Minji; Lee, Yoonsuk |
| Abstract: | This study identifies environmental response windows in cabbage growth using daily smart-farm data from April to July 2025. Crop growth responses to environmental conditions may occur immediately, with delay, or through cumulative interactions over time, making a single fixed lag structure potentially restrictive. To address this issue, the study compares fixed-lag Granger causality, variable lag Granger causality with Dynamic Time Warping (DTW), and sparse lag selection models. The analysis focuses on two cabbage growth outcomes, weight growth and leaf growth, and five environmental variables: temperature range, humidity, rainfall, insolation, and average wind speed. The results show that fixedlag Granger causality provides useful benchmark evidence but is sensitive to the imposed lag order. DTW based variable lag diagnostics indicate flexible temporal alignment, particularly for leaf growth, but delay direction diagnostics suggest that many alignments are difficult to interpret as causal timing evidence. Sparse lag-selection provides clearer evidence of specific environmental response windows. In the basic sparse model, humidity at lag 13 is negatively selected for both weight growth and leaf growth, while temperature range at lag 9 is positively selected for both outcomes. In the growth stage controlled model for weight growth, temperature range is positively selected at lags 3, 9, 11, and 12; rainfall is negatively selected at lags 3 and 4; humidity shows mixed lagged associations; and average wind speed is selected at lag 6. These findings suggest that sparse lag selection can complement DTW based variable lag analysis by identifying specific lag positions relevant to smart farm crop growth monitoring and decision support. |
| Keywords: | Productivity Analysis, Research and Development/Tech Change/Emerging Technologies |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404718 |
| By: | Li, Hongning; Lin, Wen |
| Abstract: | Using a high-frequency transaction panel dataset from China’s largest instant retail platform, we investigate the effects of temperature shocks on online consumption. We find that extreme heat significantly increases online sales of agri-food products: relative to the reference bin, each additional day with an average temperature exceeding 27°C leads to a 2.94% increase in agri-food monthly sales. Extreme heat primarily enhances the instant purchase of perishable necessities, which exhibit stronger channel substitution effects, whereas storable staples exhibit little change, implying a consumption shift from offline to online channels for such perishable products. Prices at the subproduct level remain stable under high temperatures, indicating that the growth in online consumption is driven by increased consumer demand for online purchases rather than price adjustments. Enhanced health risk awareness and reduced offline travel behavior provide further evidence for this channel substitution mechanism. Additional analyses reveal that this effect is more pronounced in regions with higher internet penetration and more frequent heat exposure, while convenient transportation mitigates it. By contrast, low temperatures exert little effect, likely because spoilage risks are lower and offline stockpiling is easier in cold weather. Our findings underscore that instant retail provides a new adaptation margin to temperature shocks and have significant policy implications for ensuring access to essential products during hot weather. |
| Keywords: | Marketing |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404537 |
| By: | Marie Noeline Sinapin (LITEM - Laboratoire en Innovation, Technologies, Economie et Management (EA 7363) - UEVE - Université d'Évry-Val-d'Essonne - Université Paris-Saclay - IMT-BS - Institut Mines-Télécom Business School - IMT - Institut Mines-Télécom [Paris]) |
| Abstract: | This study provides an examination of citizen participation processes and human mediation embedded in tourism strategies in Alsace, through the lens of sustainable development and territorial humanism. The research aims to explore how these mechanisms contribute to social inclusion, community cohesion, and collective well-being in tourist areas. The methodology is based on a mixed qualitative approach. Data collection involved semi-structured interviews with institutional stakeholders, including tourism offices and local authorities, as well as members of associations and residents involved in participatory initiatives. It also included an analysis of strategic documents produced by Alsace Destination Tourisme and regional sustainable development plans. In addition, field observation was conducted across three pilot sites—a rural area, an urban area, and a cross-border area—using an analytical matrix based on Goldman's thematic model (2005). The data were thematically analyzed using NVivo to identify the factors fostering inclusion, dialogue, and social impact. The findings show that citizen engagement, when supported by mediation processes and inclusive communication, has a measurable impact on social cohesion. It leads to better local integration of tourism projects and reduces conflicts between residents and tourists. It also supports a wider range of tourism offerings, such as soft mobility, solidarity-based itineraries, and responsible accommodation, which emerge from co-construction with local communities. Moreover, it strengthens the sense of identity and territorial belonging, which is considered a key factor in long-term sustainability. However, the analysis also highlights several constraints, including uneven levels of participation between rural and urban areas. Overall, the integration of humanistic needs into Alsatian tourism appears to be an effective lever for sustainable development, provided that human mediation is institutionalized and the social outcomes of projects are systematically assessed. This research opens up new perspectives for designing a more ethical and inclusive model of tourism governance, based on shared responsibility among public, private, and citizen stakeholders. |
| Abstract: | Cette étude offre un examen des processus de participation citoyenne et de médiation humaine incorporés dans les stratégies touristiques en Alsace, sous l'angle du développement durable et de l'humanisme territorial. La recherche vise à examiner comment ces mécanismes contribuent à l'inclusion sociale, à la cohésion communautaire et au bien-être collectif dans les zones touristiques. La méthode s'appuie sur une approche qualitative et mixte. Rassemblement d'informations : réalisation d'entretiens semi structurés avec des intervenants institutionnels (offices de tourisme, autorités locales), des membres d'associations et des résidents engagés dans des initiatives participatives. Étude des documents stratégiques d'Alsace Destination Tourisme et des plans régionaux de développement durable. Observation pratique réalisée sur trois lieux pilotes (zone rurale, zone urbaine et zone transfrontalière), en utilisant une matrice d'analyse basée sur le modèle thématique de Goldman (2005). Nous avons utilisé le logiciel NVivo pour analyser thématiquement les données et déterminer les éléments favorisant l'inclusion, la conversation et l'impact social. Les résultats indiquent que l'engagement citoyen, à condition d'être soutenu par des processus de médiation et de communication inclusive, a un impact quantifiable sur la cohésion sociale : Une meilleure intégration locale des projets touristiques et une diminution des conflits entre résidents et touristes. Une variété d'offres touristiques (mobilité douce, circuits solidaires, hébergements responsables) issue de la co-construction avec les communautés locales. Un accent accru sur le sentiment d'identité et de rattachement territorial, considéré comme un élément de pérennité. Toutefois, l'analyse souligne aussi des contraintes : disparités de participation entre les régions rurales et urbaines. L'intégration des besoins humanistes dans le tourisme alsacien apparaît comme un levier efficace de développement durable, à condition d'institutionnaliser la médiation humaine et d'évaluer systématiquement les retombées sociales des projets. Cette recherche ouvre des perspectives pour la conception d'une gouvernance touristique plus éthique et inclusive, fondée sur la co-responsabilité entre acteurs publics, privés et citoyens. L'intégration des besoins humanistes dans le tourisme alsacien apparaît comme un levier efficace de développement durable, à condition d'institutionnaliser la médiation humaine et d'évaluer systématiquement les retombées sociales des projets. Cette recherche ouvre des perspectives pour la conception d'une gouvernance touristique plus éthique et inclusive, fondée sur la co-responsabilité entre acteurs publics, privés et citoyens. |
| Keywords: | Sustainable Tourism, Social Cohesion, Human Mediation, Citizen Participation, Médiation humaine, Cohésion sociale, Participation citoyenne, Tourisme durable |
| Date: | 2026–05–05 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05657120 |
| By: | Jia, Jingru; McNamara, Paul E. |
| Abstract: | Integrated livelihoods programs are central to rural poverty eradication in low-income countries, but how to strengthen their resilience to climate shocks remains critical to preventing reimpoverishment. We draw on data from two survey rounds covering 1, 805 ultra-poor households in Zambia during the historic 2023–2024 El Ni˜no drought to test whether layering water access infrastructure on top of livelihood training strengthens resilience. Using a field quasi-experiment with three treatment arms and a control group, we assess resilience by examining food and nutrition security and income for households facing the drought. We compare a livelihood-only package against a multi-sectoral package that adds improved water access, sanitation, and hygiene (WASH) interventions. The results show a clear gap between self-reported food access and diet quality. While all treatment arms significantly reduced the psychosocial experience of food insecurity (HFIAS), the livelihood-only packages did not protect material welfare. Only the Multi-Sectoral Package (T1) sustained dietary diversity (HDDS) and significantly reduced the duration of acute hunger. This resilience was accompanied by a sizable income gain: T1 households generated approximately four times more incremental income than the livelihood-focused arms. Mechanism analysis points most strongly to the relaxation of a binding labor constraint. The water infrastructure reduced the drought-induced time tax, allowing households to reallocate labor from water collection toward productive non-farm income generation. These findings suggest that in the era of climate volatility, training- and market-oriented programming is more effective when paired with protective infrastructure. |
| Keywords: | International Development |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404661 |
| By: | Robinson, Elizabeth; Dasgupta, Shouro |
| Abstract: | During and immediately after the intense heatwave that affected the UK in June 2026 we carried out a survey of workers to find out how the heat affected their work, then calculated the cost to the economy. We estimate this single heatwave could have cost the UK more than £1 billion in lost output. |
| JEL: | N0 R14 J01 |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:140309 |
| By: | Daniel Heyen; Frederik Holtel |
| Abstract: | Carbon-crediting methodologies determine how imperfect monitoring, reporting, and verification (MRV) evidence is translated into issued credits. When project developers can influence measured outcomes, greater reliance on project-specific data improves targeting but also strengthens incentives to manipulate the signal. We develop a model in which a crediting authority commits to a crediting rule while anticipating the project developer's response. The framework distinguishes statistical accuracy from gaming robustness. The optimal rule generally attenuates the MRV signal: greater accuracy and robustness justify stronger reliance on project-specific evidence, whereas higher credit prices and greater heterogeneity in gaming ability call for a flatter rule. Even when manipulation becomes prohibitively difficult, measurement noise alone implies attenuation. We also characterize how market and project conditions affect the relative value of improving accuracy versus robustness. An illustration using project-level data on cookstove carbon credits shows how independent reassessments can inform the framework and highlights the data requirements for empirical implementation. |
| Keywords: | carbon crediting, carbon offsets, monitoring reporting and verification, strategic manipulation, crediting-rule design, gaming robustness |
| JEL: | Q54 Q58 D82 L51 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12872 |
| By: | Jing, Chunxiao |
| Abstract: | Structural transformation, the reallocation of labor from low-productivity agriculture to higher-productivity non-agricultural sectors, is widely viewed as a key driver of economic development. Yet in many African countries, labor leaving agriculture does not always transition into productive employment. This paper examines how agricultural productivity shocks affect labor reallocation and why similar shocks generate different employment outcomes across countries. Using household panel data from Niger, Malawi, and Ethiopia, combined with geospatial climate data, we construct a continuous measure of weather-driven agricultural productivity changes based on rainfall and temperature using a machine learning approach. Empirical results show that favorable weather productivity shocks reduce agricultural labor shares, but the employment outcomes of workers leaving agriculture vary substantially across countries: labor shifts into non-agricultural activities in Niger, spatial barriers limit access to jobs in Malawi, and institutional constraints lead to surplus labor in Ethiopia. To explain these patterns, we develop and estimate a microfounded model that combines a Lewis-type labor release mechanism with a Harris–Todaro–type job absorption process. Counterfactual policy simulations show that the effectiveness of policies—such as food subsidies, infrastructure improvements, and institutional reforms—depends on both country-specific labor market constraints and climate conditions. These findings highlight the importance of designing development policies that account for institutional context and climate variability when promoting structural transformation. |
| Keywords: | International Development |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404662 |
| By: | Stefano Bolatto (University of Bologna); Filippo Santi (Catholic University of the Sacred Heart, Milan); Maria Tremuli (University of Bologna) |
| Abstract: | International trade in waste and scrap has expanded rapidly, yet it remains underexplored in quantitative trade economics. This paper analyzes the determinants of waste flows across five major material categories (plastics, paper, glass, iron & steel, aluminum) using a gravity model enriched with bilateral tariff and non-tariff measures. Leveraging HS6 bilateral customs data for 2001–2022, we compare trade elasticities between waste and non-waste products within the same HS2 sectors to assess whether differences in trade patterns are material-specific. The results are robust to dynamic lead-lag specifications assessing systematic anticipation, and to heterogeneity analyses by income level. They are consistent with three distinct archetypes: information sensitive materials (plastics, aluminum), where technical NTMs display a pattern suggestive of certification mechanisms; complementarity-driven materials (paper), which exhibit inverted tariff elasticities reflecting technological lock-in in specialized recycling infrastructure; and commodity-like materials (glass, iron/steel), where trade responds conventionally to policy and geographic frictions. Our findings point to the value of tailoring trade and circular-economy measures to material characteristics, given the systematic differences observed across archetypes. |
| Keywords: | International trade, waste and scrap, gravity model, tariff and non-tariff barriers, circular economy, trade and environmental policy |
| JEL: | F Q |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:inf:wpaper:2026.05 |
| By: | Clark Mbou-Boutambe (CIRMF - Centre Interdisciplinaire de Recherches Médicales de Franceville, Ecole Doctorale Régionale en Infectiologie Tropicale d’Afrique Centrale); Larson Boundenga (CIRMF - Centre Interdisciplinaire de Recherches Médicales de Franceville, Department of Anthropology [Durham University] - Durham University); Carine Brouat (UMR CBGP - Centre de Biologie pour la Gestion des Populations - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - IRD [Occitanie] - Institut de Recherche pour le Développement - délégation Occitanie - IRD - Institut de Recherche pour le Développement - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier); Philippe Gauthier (UMR CBGP - Centre de Biologie pour la Gestion des Populations - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - IRD [Occitanie] - Institut de Recherche pour le Développement - délégation Occitanie - IRD - Institut de Recherche pour le Développement - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier); Odile Fossati-Gaschignard (UMR CBGP - Centre de Biologie pour la Gestion des Populations - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - IRD [Occitanie] - Institut de Recherche pour le Développement - délégation Occitanie - IRD - Institut de Recherche pour le Développement - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier); Fanny Degrugillier (MIVEGEC - Maladies infectieuses et vecteurs : écologie, génétique, évolution et contrôle - CNRS - Centre National de la Recherche Scientifique - IRD [Occitanie] - Institut de Recherche pour le Développement - délégation Occitanie - IRD - Institut de Recherche pour le Développement - UM - Université de Montpellier); Cyr Moussadji (CIRMF - Centre Interdisciplinaire de Recherches Médicales de Franceville); Thierry-Audrey Tsoumbou (CIRMF - Centre Interdisciplinaire de Recherches Médicales de Franceville); Barthélémy Ngoubangoye (CIRMF - Centre Interdisciplinaire de Recherches Médicales de Franceville); Virginie Rougeron (REHABS - Reconciling Ecological and Human Adaptations for Biosphere Sustainability - UCBL - Université Claude Bernard Lyon 1 - Université de Lyon - CNRS - Centre National de la Recherche Scientifique - Nelson Mandela University [Port Elizabeth]); Laurent Granjon (UMR CBGP - Centre de Biologie pour la Gestion des Populations - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - IRD [Occitanie] - Institut de Recherche pour le Développement - délégation Occitanie - IRD - Institut de Recherche pour le Développement - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier); Franck Prugnolle (REHABS - Reconciling Ecological and Human Adaptations for Biosphere Sustainability - UCBL - Université Claude Bernard Lyon 1 - Université de Lyon - CNRS - Centre National de la Recherche Scientifique - Nelson Mandela University [Port Elizabeth]) |
| Abstract: | Highlights: • Trypanosome infections were detected in all eight rural localities studied in Gabon, covering domestic, peri-domestic, and forest environments. • First documentation of Trypanosoma lewisi in Rattus in Gabon. • The black rat (Rattus) accounts for 89% of all infections, confirming its role as the primary reservoir and dispersal host for T. lewisi in Central Africa. Abstract: Rodents are important reservoirs for numerous zoonotic parasites. Among them, Trypanosoma lewisi (subgenus Herpetosoma) has been introduced into many regions worldwide through its primary reservoir, Rattus, which has spread globally along human commercial routes. Several other Herpetosoma species have been reported to infect native rodents in Africa, although their zoonotic potential remains unclear. In rural areas of Gabon, R. rattus is widely distributed within villages, being largely dominant in rodent communities. Based on sampling conducted across 11 localities, we screened 528 rodents. Using qPCR targeting the 18S rDNA gene. The overall prevalence for this subgenus was 56.6% (n = 299). Trypanosoma spp. were detected at all sampling sites, with prevalence in R. rattus ranging from 21.6% to 85.7% in domestic localities. Infections were also observed in Praomys jacksoni (100%), Lophuromys roseveari (72%), Lemniscomys striatus (25%), and Hybomys univittatus (71%). To formally identify the circulating species, a 2100 bp fragment of the 18S rDNA gene was successfully sequenced from a subset of 21 qPCR-positive samples, revealing that all these characterized isolates belonged to the subgenus Herpetosoma and clustered tightly within the T. lewisi subclade (genotype AF05b), recognized as T. lewisi sensu stricto. Our findings confirm the occurrence of T. lewisi AF05b within invasive R. rattus populations in rural Gabon. While T. lewisi DNA was also detected in a few native rodents, the low trypanosome diversity observed in this study is likely driven by the overwhelming dominance of R. rattus in our sampling. This study underscores the widespread presence of the T. lewisi clade in invasive rats in Gabon and emphasizes the importance of monitoring invasive rodent populations as potential amplifiers of zoonotic trypanosomes, though further targeted studies with balanced sampling are required to clarify the exact epidemiological role of native African rodents in these transmission cycles. |
| Keywords: | Africa and zoonosis, Herpetosoma, Trypanosoma lewisi, Rodents |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05696906 |
| By: | Charlotte Michel (MRM - Montpellier Research in Management - UPVD - Université de Perpignan Via Domitia - UM - Université de Montpellier); Nicolas Hervé (EFTS - Education, Formation, Travail, Savoirs - UT2J - Université Toulouse - Jean Jaurès - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - ENSFEA - École Nationale Supérieure de Formation de l'Enseignement Agricole de Toulouse-Auzeville, ENSFEA - École Nationale Supérieure de Formation de l'Enseignement Agricole de Toulouse-Auzeville) |
| Abstract: | Sylv'Agora est un jeu de rôle qui vise à simuler des négociations d'acteurs sociaux à propos de décisions à prendre sur la gestion d'une forêt fictive. Cette version du jeu permet de jouer rapidement (3h) entre professionnels de la gestion forestière ou avec des élus. Le jeu comprend 9 acteurs représentatifs de la gestion forestière, des usages de la forêt et du territoire. Il est contextualisé à une forêt de type pyrénéen. Chaque personnage a des objectifs à atteindre : achat de bois, mise en conservation écologique de parcelles, droits de pêche et de chasse, maintien des emplois locaux, accès aux espaces, etc. La prise de décision collective porte sur des orientations de gestion d'un socio-écosystème forestier : extension de la réserve actuelle, planification forestière sous la forme de choix sylvicoles, aménagement touristique (parkings, routes). A la fin des négociations, les arbitres veulent s'assurer d'avoir une majorité de « oui » pour le projet retenu de réserve pour éviter les conflits entre acteurs. |
| Keywords: | Forêt, Transition, Formation, Négociation, Médiation |
| Date: | 2026–06–01 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05688700 |
| By: | Gollin, Douglas; Wolfersberger, Julien |
| Abstract: | In this paper, we study how new roads affect the spatial patterns of agricultural production and consequently impact deforestation and development outcomes, focusing on the historical experience of Brazil. We find that the expansion of Brazil’s road network since the 1990s can account for a tenth of the total amount of deforestation that the country has experienced, with significant variation across regions. Perhaps surprisingly, our results suggest that the increase in agricultural income attributable to road construction has been more limited. Focusing on complementarities with technical change, we examine how improved market access combined with new agricultural technologies impacted land conversion. |
| Keywords: | Trade frictions; Quantitative spatial economics; Natural resources; Agriculture trade |
| JEL: | F18 O13 Q10 R12 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19710 |
| By: | Alexander Rincón Ruiz |
| Abstract: | El presente artículo explora el concepto de economías diversas y economías otras como una respuesta a la crisis ambiental y social. Desde una perspectiva sistémica e interdependiente, se argumenta que el modelo económico hegemónico ha llevado al planeta a una crisis ecológica sin precedentes, basada en la mercantilización de la naturaleza, la acumulación de capital y la homogeneización cultural. A través de un análisis teórico y de experiencias territoriales en Colombia, se plantea que las economías diversas y economías otras ofrecen alternativas viables fundamentadas en la reciprocidad, la justicia ecológica y la regeneración de los ecosistemas. Se destacan prácticas económicas comunitarias, solidarias, campesinas, afrodescendientes e indígenas, así como principios como la interdependencia ecológica, la autonomía territorial y la economía del cuidado. Finalmente, se argumenta que Colombia, por su riqueza biocultural y sus resistencias territoriales, puede desempeñar un papel clave en la transición hacia modelos económicos sustentables y resilientes, aportando perspectivas desde el pluriverso y el postdesarrollo |
| Keywords: | economías diversas; economías otras; crisis ambiental; regeneración ecológica; pluriverso |
| JEL: | Q01 Q57 O13 P48 R11 B55 |
| Date: | 2025–05 |
| URL: | https://d.repec.org/n?u=RePEc:col:000176:023148 |
| By: | Kemp-Benedict, Eric |
| Abstract: | Ecological macroeconomics has been expanding as a sub-field within ecological economics in the last decade. Applying almost exclusively non-neoclassical, or 'heterodox', macroeconomic theory, ecological macroeconomic models incorporate biophysical stocks and flows. Yet, they are not well-suited to exploring the more transformative agendas proposed within ecological economics writ large. The challenges of doing so are prodigious, but that points to the need for research. With the ultimate goal of informing policy-oriented models, including scenario models, this paper proposes a framework for research along a 'research-to-application pipeline'. It argues the need for a common framework and suggests combining two well-established practices: from macroeconomics, the practice of characterising models by their accounting relationships, behavioural rules, and closures; and, from system dynamics modelling, the adoption of 'confidence-building procedures'. The proposed research-to-application pipeline creates a division of labour over the task of confidence building, with the accounts-behaviourclosure (or 'ABC') approach providing a common language. The paper refers to existing work and explicitly addresses the critical realist critique of model closure. |
| Keywords: | ecological macroeconomics, post-Keynesian, post-growth, degrowth, critical realism |
| JEL: | C54 E11 E12 P41 Q57 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:penwps:342531 |
| By: | Mónica Patzi Rivero (Universidad Privada Boliviana (UPB)); Juan E. Cabrera (Universidad Privada Boliviana (UPB)) |
| Abstract: | La arquitectura residencial en altura ha sido pro-movida en Cochabamba, Bolivia, como una estrategia de cre-cimiento urbano sustentable frente al cambio climático. Sin embargo, la efectividad real de este enfoque permanece poco evaluada. Este artículo analiza críticamente el desarrollo de la arquitectura residencial sustentable en altura desde una pers-pectiva técnico-institucional, examinando la evolución normativa, los incentivos urbanos y su aplicación práctica entre 1992 y 2025. La metodología adoptada es cualitativa-descriptiva e integra análisis documental de leyes municipales, entrevistas semiestructuradas a actores clave, capacitación técnica especia-lizada y estudio de casos de edificaciones construidas bajo in-centivos “verdes”. Los resultados evidencian una brecha signifi-cativa entre el discurso normativo y la práctica arquitectónica: los criterios de sustentabilidad son aplicados de manera parcial y superficial, mientras los incentivos han favorecido principalmente la expansión vertical y la captura de plusvalías por parte del mercado inmobiliario. Se concluye que la sustentabilidad ha operado más como un mecanismo de flexibilización urba-nística que como un principio estructural de planificación am-biental. El estudio subraya la necesidad de fortalecer los marcos institucionales, los mecanismos de fiscalización y los sistemas de verificación técnica para avanzar hacia una arquitectura verdaderamente sustentable, integrada a una visión urbana resiliente y equitativa. |
| Keywords: | Vivienda sustentable en altura, incentivos urbanos, crecimiento urbano vertical, gobernanza institucional, Cochabamba. |
| JEL: | R31 Q58 R52 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:iad:wpaper:0425 |