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on Environmental Economics |
| By: | Hertwich, Edgar |
| Abstract: | Much science advice today is predicated on the information-deficit model, in which facts have agency or the administrative state makes policy primarily based on information. Sustainable development addresses environmental and social aspects while leaving the economy to market forces, individual lives to the unfettered influence of companies, and the organization of society shaped by tech bros. This model is no longer fit, and a more powerful narrative is needed that shows the path to how we ourselves can achieve a fundamental transformation of economy and society through the building of a new culture and institutions. Here I sketch what I think should be elements of such a sustainable development narrative rooted in natural history and insights to human nature observed in history and by social sciences. The manuscript serves to stimulate a discussion that at some point will lead to a full-fledged narrative theory of sustainable development, created by many. |
| Keywords: | collective action problem, sustainable development goals, climate change mitigation, co-evolution, complex systems theory |
| JEL: | H4 Q56 Q57 |
| Date: | 2026–03–08 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:128305 |
| By: | Liu, Xinwei |
| Abstract: | This policy insight explores China’s role in promoting the implementation of the Kunming-Montreal Global Biodiversity Framework (GBF). While the nation’s domestic policies and progress in biodiversity conservation, as well as its influence in global climate action, have been widely explored, its potential for supporting global efforts in the fight against biodiversity loss has so far been neglected. With the trend towards biodiversity loss and its impacts intensifying, at the 15th meeting of the Conference of the Parties to the Convention on Biological Diversity (Biodiversity COP15) in Montreal, Canada, in 2022, the international community reached consensus on halting and reversing nature loss by 2030 under the GBF. However, national commitments and actions since then have fallen far short of halting the crisis, and growing geopolitical fragmentation, weakening multilateral cooperation and recent setbacks in international environmental governance have further widened this gap. Within this global landscape, China is emerging as a ‘great power’ in biodiversity. With its vast territory, China houses a rich array of species and ecosystems. Through its overseas infrastructure projects and investments, as well as its large demand for natural resources from abroad, China’s influence on biodiversity reaches far beyond its borders. Since adopting the GBF, China has actively translated the global commitments into national action and has achieved outstanding tangible outcomes. As the presidency of Biodiversity COP15 and subsequently, China has demonstrated a strong capacity in shaping global environmental politics, from initiating agendas and coordinating efforts to building consensus and promoting action. As the world fears another decade of failure on biodiversity and urgently seeks leadership to advance the GBF, China stands in a position to take a lead on and further enhance its influence in international environmental governance. |
| Keywords: | belt and road initiative; biodiversity; biodiversity conservatiaon; China; GBF; green BFI; green finance; green technology; innovation; Kunming-Montreal Global Biodiversity Framework COP16; nature loss |
| JEL: | N0 |
| Date: | 2026–02 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:137521 |
| By: | Federica Lanterna (Department of Economics, Society and Politics, University of Urbino Carlo Bo); Giovanni Marin (Department of Economics, Society and Politics, University of Urbino Carlo Bo, SEEDS Sustainability Environmental Economics and Dynamics Studies and Fondazione Eni Enrico Mattei); Agnese Sacchi (Department of Economics, Society and Politics, University of Urbino Carlo Bo and IDEAGOV) |
| Abstract: | Environmental challenges increasingly shape political discourses across Europe, yet their influence on actual environmental governance remains unclear. This paper examines the political economy mechanisms linking environmental change, party platforms, and the decentralisation of environmental protection expenditure in 27 EU member states from 2002 to 2022. We distinguish between political signalling – the commitments parties make in electoral manifestos – and policy implementation, measured through actual decentralised environmental spending. Our results reveal a sharp asymmetry: while extreme events substantially increase the salience of environmental protection in party platforms, they do not translate into changes in the territorial allocation of environmental expenditure. Instead, decentralisation responds primarily to long-term structural conditions, such as the relative weight of locally versus globally relevant emissions. Political orientations of governing coalitions, whether on environmental issues or decentralisation, show no systematic association with spending outcomes. Taken together, these findings highlight a persistent gap between electoral incentives and policy implementation in multilevel environmental governance, consistent with public-choice theories emphasising institutional inertia and limited political responsiveness beyond the stage of platform competition. |
| Keywords: | Decentralisation, environmental protection, natural disasters, political announcements, voters preferences |
| JEL: | H70 H72 H77 Q54 Q58 |
| Date: | 2026–02 |
| URL: | https://d.repec.org/n?u=RePEc:fem:femwpa:2026.07 |
| By: | Andrés Lorente-de-las-Casas (Universidad de La Laguna, CEDESOG e Instituto Universitario de la Empresa); Gustavo A. Marrero-Díaz (Universidad de La Laguna y CEDESOG); Jesús Rodríguez-López (Universidad Pablo de Olavide e Ivie) |
| Abstract: | To meet the target of reducing greenhouse gas (GHG) emissions by 55% by 2030, net emissions in Spain would still need to decrease by an additional 43%. This paper analyzes the evolution of net emissions flow between 1990 and 2023 and the factors that have influenced it: energy intensity, carbon intensity, and economic activity. Eventually, we conclude the following. First, since 2005 there has been a continuous reduction in emissions, as a consequence of (i) the moderation in energy intensity, (ii) the economic slowdown between 2008 and 2014, and (iii) the composition effect, whereby the gross value added (GVA) of the services sector has increased to over 70% of the total, while its emissions account only 3% for total emissions. Second, the transport sector presents a significant obstacle to achieving these objectives: although its energy intensity has decreased, its carbon intensity has remained flat over the three decades analyzed, indicating a lack of alternative energy sources. Energy and environmental policies, as well as fiscal measures aimed at reducing these emissions, should address this issue. |
| Keywords: | CO2 emissions, energy intensity, carbon intensity |
| JEL: | C23 Q2 Q43 Q54 E13 H22 R40 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:pab:wpaper:26.02 |
| By: | Fukushima, Nanna (Swedish National Road and Transport Research Institute (VTI)); van Dongen, Eef (Swedish Meteorological and Hydrological Institute (SMHI), Norrköping, Sweden); Vierth, Inge (Swedish National Road and Transport Research Institute (VTI)); Windmark, Fredrik (Air Navigation Services of Sweden (LFV), Norrköping, Sweden) |
| Abstract: | Maritime transport generates substantial greenhouse gas emissions and local air pollution, yet policy appraisal commonly relies on aggregated handbook cost factors that insufficiently account for spatial heterogeneity in exposure. This paper develops a bottom-up framework integrating AIS-based ship position data with emission modelling, atmospheric dispersion, and population grids to evaluate health and climate impacts of maritime policies. Applying the method to Stockholm and Gothenburg, we simulate onshore power supply, electrification of public ferries, and full IMO Tier III compliance. Tier III delivers the largest NOₓ exposure reductions, while effects vary across regions. The approach enables consistent, spatially explicit welfare comparisons of maritime interventions. |
| Keywords: | Maritime transport; Air pollution; External costs; Health impacts; Environmental policy; Spatial |
| JEL: | C51 H23 I18 Q53 Q54 R41 |
| Date: | 2026–03–09 |
| URL: | https://d.repec.org/n?u=RePEc:hhs:vtiwps:2026_003 |
| By: | Yamaguchi, Rintaro; Agarwala, Matthew; Atkinson, Giles |
| Abstract: | Fossil fuels represent a significant portion of the wealth of resource-rich nations. However, their valuation as non-renewable natural capital in inclusive or comprehensive wealth accounting to indicate sustainability does not embody the external costs of climate change damages. This study consistently incorporates the social cost of carbon (SCC) into the value of depletion of non-renewable natural capital for wealth accounting of resource-rich nations. We derive shadow prices of depletion under different resource allocation mechanisms (RAMs) in the presence of externality costs from emissions, allowing for declining extraction and an unburnable natural capital stock constraint. In our application to oil, depletion is valued differently across RAMs, depending on how rent, SCC, and decarbonisation develop in the future. The sustainability implication of the choice of RAM is even more significant in the presence of SCC. |
| Keywords: | genuine savings; natural capital; fossil fuel; inclusive wealth accounting; social cost of carbon; sustainable development |
| JEL: | C43 D63 O47 Q01 Q54 |
| Date: | 2026–05–31 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:137191 |
| By: | Naeem, Huzefa; Ali, Amjad; Audi, Marc |
| Abstract: | This research investigates the influence of financial development on environmental outcomes, with green investment as a mediating variable and environmental awareness as a moderating factor. To achieve this, the authors employ a mixed-methods approach, analyzing long-term panel data from thirty countries and supplementing quantitative findings with stakeholder interviews conducted in Germany and India, thereby enriching the analysis with diverse perspectives. Financial development is measured by indicators such as gross domestic product growth and banking sector strength, while environmental degradation is proxied by per capita carbon dioxide emissions. Green investment is assessed by comparing renewable energy financing to gross domestic product, and the level of environmental awareness is gauged by the extent to which populations prioritize ecological concerns. The findings reveal that financial stability contributes to reduced environmental harm, with green investment serving as a significant channel for this effect. Moreover, heightened environmental awareness amplifies the positive impact of financial stability on green investment. The analysis indicates that regions characterized by both financial stability and a well-informed public are more successful in transitioning to clean energy, whereas emerging economies encounter greater obstacles due to insufficient support systems and the inherent challenges of simultaneous development. The study concludes that robust financial systems alone are insufficient to deliver ecological benefits; meaningful progress requires a combination of green investment and active public engagement. Policymakers are advised to formulate climate-responsive financial regulations, invest in public awareness campaigns, and devise context-specific strategies tailored to cultural differences to advance both environmental protection and economic development. By elucidating the role of awareness in fostering sustainable transformation, this research contributes to the literature on the Environmental Kuznets Curve and stakeholder theory, offering practical recommendations for aligning global economic activity with ecological boundaries. |
| Keywords: | Financial Stability, Environmental Degradation, Green Investment, Environmental Awareness |
| JEL: | G2 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:127490 |
| By: | George, Babu (Alcorn State University) |
| Abstract: | The global expansion of large, energy-intensive data centers, accelerated by cloud computing, cryptocurrency, and artificial intelligence (AI), has created growing concern about implications for human health. Emerging scholarship highlights multiple health-relevant pathways: increased emissions of criteria air pollutants from power plants and onsite diesel backup generators, chronic environmental noise from cooling infrastructure, intensive water withdrawals that strain public supplies, and land-use changes that intersect with social determinants of health. Direct epidemiologic evidence on communities living near data centers remains sparse, with most work to date relying on lifecycle emissions modeling and indirect analogy with established air and noise pollution literatures. Nevertheless, modeling studies consistently project that by the late 2020s, U.S. data centers could be responsible for roughly 1, 300 premature deaths and up to 600, 000 asthma symptom cases annually, with an associated public health burden approaching $20 billion per year. Case studies reviewed document risks related to air pollution, water stress, and noise that fall disproportionately on vulnerable communities, with per-household health cost burdens estimated to reach multiple times the national average in some disadvantaged counties. Drawing on environmental health, noise science, water security, and environmental justice literatures, this article synthesizes current evidence, proposes a conceptual framework organizing four principal exposure pathways, identifies critical research gaps, and outlines policy and planning priorities to ensure that digital infrastructure development is compatible with public health protection and equity. |
| Date: | 2026–03–06 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:cnwyb_v1 |
| By: | Shoji Haruna; Rajeev K. Goel |
| Abstract: | The intersection of environmental policies and trade policies on external diseconomies has received considerable attention in recent years. However, the impacts of the timing of pollution taxes versus import tariffs on economic performance have not been formally considered, and this forms the focus of this work. In a political economy context, import tariffs might be imposed first due to protectionist or budgetary considerations, while environmental compulsions might lead to precedence of pollution taxes. Our results show that social welfare is greater when import tariffs precede pollution taxes. Pollution taxes are lower, and domestic production is greater when import tariffs are imposed first. |
| Keywords: | policy timing, environmental policy, tariff policy, performance comparison, production pollution, consumption pollution |
| JEL: | D43 F13 L13 Q56 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12527 |
| By: | Dietz, Simon; Hastreiter, Nikolaus; Scheer, Antonina; Toledo, Felipe Silva |
| Abstract: | The TPI Centre evaluates companies against benchmark pathways, which translate the emission reductions required by the Paris Agreement goals into a measurable trajectory at the sectoral level. For each sector benchmark pathway, the key inputs are: • A timeline or economy-wide carbon emissions, which is consistent with meeting a particular climate target (e.g. limiting global warming to 1.5°C) by keeping cumulative carbon emissions within the associated carbon budget. • A breakdown of this economy-wide emissions pathway into emissions from key sectors (the numerator of sectoral emissions intensity), including the sector in focus. • Consistent estimates of the timeline of physical production from, or economic activity in, the sector in focus (the denominator of sectoral emissions intensity). The focus of the TPI’s Carbon Performance assessment for the shipping sector is international shipping, which is estimated to account for around 90% of total shipping emissions. The remainder of the emissions from the sector come from domestic shipping, which includes coastal shipping between ports in the same country and inland waterway transport. In addition, the TPI Centre’s analysis focuses on freight transport only, as passenger transport (e.g. cruise ships and passenger ferries) represents just a small percentage of international shipping. |
| JEL: | N0 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:137452 |
| By: | Faisal, Md. Zaki; Uddin, Md. Shihab; Islam, Mohammad Tarikul |
| Abstract: | In an era defined by escalating climate change, Bangladesh stands as one of the world's most vulnerable nations, where the well-being of millions and the prospects for sustainable development is intrinsically linked to the health of its environment. This research was undertaken to address a critical question at the heart of this challenge: How effective is local government in strengthening environmental governance and building resilience at the grassroots level? With such a basic unit of rural governance as the Union Parishad, this study evaluates the role, influence of the institution and the systemic pressures that limits its performance. The results indicate a deep and disturbing paradox. A majority of the rural communities agreed that environmental degradation, which is coming in the form of massive floods, uncontrollable erosion of rivers and globally advancing salinity is a grave and imminent danger to their lives and livelihood. Such strong local action should in theory have a strong mandate because of this high level of public concern. However, the study also revealed a very profound and widespread sense of disillusionment between the people and the very establishments that are supposed to defend the people. The paper has concluded that, this disjoint is not due to indifference of the citizens, but is the effect of a malfunctioning system of governance. The Union Parishad, which in theory is the foundation stone of local action, is substantively disempowered and in practice emasculated by three kinds of paralysing problems: a debilitating shortage of financial resources, the corrosive effects of corruption which eats away at its credibility, and the unwarranted political interference which eats away at the proper planning and fair action. These fundamental problems are further enhanced by the inferior institutional capacity, insufficient technical skills and inability of the local, regional and national organizations to coordinate their efforts. |
| Keywords: | Bangladesh; climate change; environmental governance; local government; resilience; sustainable development; Union Parishad |
| JEL: | N0 |
| Date: | 2026–03–02 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:137518 |
| By: | Inge van den Bijgaart; Jacob Jordaan; Tommaso Felici |
| Abstract: | This paper quantifies the relationship between economic exposure to climate policies and climate policy support. We develop a stylised theoretical model to decompose exposure through income, energy spending and vehicle use, and define consistent measures of these exposure channels. We then combine detailed Dutch household administrative data and survey data on climate policy support and find that higher exposure is robustly associated with lower support for stronger climate policies across all three channels. Further analysis reveals that high electricity rather than high natural gas spending is associated with reduced support, and vehicle fuel efficiency is a more important predictor of support than income-adjusted kilometres driven. Income exposure, proxied by the sectoral carbon-intensity of jobs, is particularly salient among older and lower–to-middle educated respondents. |
| Keywords: | climate policy, public support, economic exposure, distributional effects |
| JEL: | D78 H23 Q52 Q58 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12520 |
| By: | Benjamin Carton; Geoffroy Dolphin; Mr. Romain A Duval; Andrew Hodge; Amit Kara; Simon Voigts; Sebastian Wende |
| Abstract: | The EU has ambitious goals for climate and energy security. Its targets and policies may have large macroeconomic implications, but investment impacts are particularly uncertain. Detailed "bottom-up" approaches based on sectoral calculations point to investment increases of 2 to 3 percent of GDP annually, while “top down” general equilibrium models often yield negligible aggregate investment effects. Further, the investment and broader macroeconomic impacts of the EU’s energy transition will depend on how carbon pricing revenues are recycled. This paper addresses these issues using a modeling technique that bridges bottom-up and top-down approaches. A New Keynesian general equilibrium model (GMMET) is extended to feature a detailed representation of energy use in key emitting sectors, including buildings, transport and energy-intensive manufacturing. Simulations suggest that achieving the EU’s 2035 climate goals implies an increase in aggregate annual investment of just around 1 percent of GDP. More broadly, the EU’s energy transition only has modest macroeconomic impacts if it combines carbon pricing and green subsidies, partly because these are complementary—green subsidies lower energy prices and inflation and raise output, carbon pricing has opposite effects, and therefore combining both yields small effects on all accounts. The fiscal cost of the transition is modest provided decarbonization relies sufficiently on carbon pricing; while revenues from ETS1 and ETS2 could eventually reach about 1 percent of GDP, the public investment cost of the transition is less than 0.5 percent of GDP annually, leaving net fiscal space that could be used for other policy objectives. |
| Keywords: | Climate mitigation policy; policy coordination |
| Date: | 2026–03–09 |
| URL: | https://d.repec.org/n?u=RePEc:imf:imfwpa:2026/046 |
| By: | Bento, Antonio M.; Koch, Nicolas; Marmarelis, Zissis E. |
| Abstract: | Recent natural gas price surges prompted the adoption of various policies, such as a natural gas price cap, aimed at preserving climate goals and preventing increases in wholesale electricity prices. However, it is unclear whether such policies are effective. Here, we take advantage of the unexpected spike in natural gas prices around the time of the Russian invasion into Ukraine to estimate the effects of such a spike on coal generation, carbon emissions, and wholesale electricity prices, highlighting its heterogeneous impacts in 13 EU countries that still rely on both coal and gas for electricity production. We use these estimates to show that the effectiveness of the gas price cap is limited, and instead propose an emergency response mechanism that would simultaneously safeguard the EU's climate policy and protect households from excessive fluctuation in natural gas prices. The proposed mechanism introduces an emergency auction reserve price within the existing EU Emissions Trading System, triggered automatically under predefined rules whenever gas prices reach unusually high levels. Revenues generated by the reserve price would be used to provide relief to consumers. Our results demonstrate that a modest emergency reserve price could serve as an effective response mechanism and that this approach overcomes key shortcomings of the widely used natural gas price cap. |
| Keywords: | European energy crisis, excessive natural gas prices, wholesale electricity prices, emission trading, decarbonization |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:esprep:337665 |
| By: | Gabriel Santos Carneiro (IUSS - Istituto Universitario di Studi Superiori, AFD - Agence française de développement); Guilherme Magacho (IUSS - Istituto Universitario di Studi Superiori); Etienne Espagne (AFD - Agence française de développement) |
| Keywords: | Planetary boundaries, Global trade, Footprint assessment, Environmental input-output, Multi-regional input-output |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05521266 |
| By: | Francesco Crespi; Nicolò Geri; Dario Guarascio; Enrico Marvasi |
| Abstract: | This paper investigates the relationship between technological capabilities, import dependency, and environmental policies, focusing on the lithium-ion battery supply chain (LBSC) – a critical sector for the net-zero transition. We contribute to the growing literature on the drivers and barriers to accelerating the transition in the following ways. First, we develop an original analytical framework that integrates two recent streams of literature – one focusing on the acceleration of the green transition and the other on structural dependencies and technological sovereignty – to examine potential trade-offs between these objectives. Second, we develop a strategic intelligence analysis of the LBSC allowing to quantify import dependencies and technological capacity gaps at a highly granular product/technology level. This allows to identify critical products and supply chain stages where policy action is needed to avoid the emergence of bottlenecks to the green transition. Third, we examine how technological capabilities influence import dependency, showing under what conditions technological upgrading strengthens competitive positions and mitigates dependency. Finally, we analyse how environmental policy stringency relates to import dependency, assessing whether and in which circumstances environmental goals may conflict with technological sovereignty and strategic autonomy ones. Our findings suggest that technological upgrading can reduce dependencies without compromising environmental goals so that the presumed trade-off between the net-zero transition and structural dependencies does not necessarily hold. In contrast, a welldesigned policy mix, aligning environmental objectives with targeted innovation and industrial policies, can enhance both resilience and the acceleration towards the net-zero transition. |
| Keywords: | Strategic autonomy; Technological capabilities; Net-zero transition; Environmental policy; Lithium-ion batteries; Technological sovereignty |
| JEL: | Q55 O38 Q58 F14 |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:sap:wpaper:wp276 |
| By: | Lea Gogová (Národná banka Slovenska); Juraj Hledik (Joint Research Centre); Ján Klacso (Národná banka Slovenska) |
| Abstract: | Climate change is expected to lead to more frequent and intense extreme weather events, such as floods and droughts, which in turn increase physical risks. In this paper, we assess the direct exposure of Slovak banks’ corporate loan portfolios to riverine flood risk. We propose several monitoring metrics and estimate exposures at risk due to riverine flood-ing. Our analysis leverages a comprehensive dataset that integrates flood risk maps from the European Commission’s Joint Research Centre, cadastral data on firm properties, credit register data, and firms’ financial statements. While a significant share of firms are located in flood-prone areas, only a subset are likely to face flood levels that exceed critical thresh-olds. Consequently, the direct impact of riverine flooding on corporate credit risk appears to be relatively moderate — with the estimated increase of exposure at default ranging from 2 to 10 basis points of the corporate loan portfolio under standard scenarios, and up to 50–60 basis points in conservative stress cases accounting for asset value declines. Under coun-terfactual scenarios assuming a fivefold increase in the frequency of floods, the estimated increase exceeds 1 percentage point of the loan portfolio. |
| JEL: | G21 Q54 R30 |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:svk:wpaper:1130 |
| By: | Geoffrey Heal; Claudio Rizzi; Simon Xu |
| Abstract: | Human-driven degradation of ecosystems threatens both global biodiversity and the livelihoods of communities that depend on natural systems for production and income. Yet empirical evidence on the economic returns to restoring nature remains scarce. We examine whether nature-enhancing interventions can generate measurable improvements in household wealth, in addition to environmental benefits. We study a large-scale agroecological intervention implemented by Trees for the Future (TREES) across farms in sub-Saharan Africa, combining detailed household surveys with high-resolution satellite imagery. We show that quasi-exogenous increases in natural capital lead to substantial gains in household wealth, proxied by livestock ownership, of about 75% by the third year of treatment. Each dollar invested in the intervention returns about $2.28 in direct wealth benefits for participating farmers, before accounting for positive health impacts and carbon sequestration. We further document dramatic increases in tree cover and crop diversity, significant improvements in food security and dietary diversity, and detectable enhancements in vegetation indices measured from space. Together, these results demonstrate that restoring natural capital generates both ecological and economic returns, offering a scalable pathway for nature-positive development in rural economies where biodiversity remains a critical productive asset. |
| JEL: | O13 Q01 Q13 |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:34929 |
| By: | Harrison Hong; Heqing Huang; Neng Wang |
| Abstract: | Climate disasters threaten intergenerational equity by exposing future generations to rising risks. We develop a model in which a government learns about disaster risk and enforces a sustainability criterion requiring expected social welfare to be non-decreasing over time. This criterion—similar to the principle underlying the UN Sustainable Development Goals—can be decentralized through state-contingent fiscal instruments: when perceived disaster risk is high, the constraint binds and government raises a consumption tax to finance investment subsidies for resilience. Such a fiscal rule leads to intergenerational-welfare smoothing and improves asset valuations despite adverse climate news due to commitments to future resilience. Compared with a government that adopts a social discount rate lower than households’, the sustainability-constraint rule responds to disaster risk and is better aligned with observed consumption-based climate-resilience taxes, such as those implemented in Greece and Spain. |
| JEL: | E20 G01 H56 |
| Date: | 2026–02 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:34916 |
| By: | Phoebe Koundouri; Chrysilia Pitti; Georgios Feretzakis |
| Abstract: | In this article we synthesize 41 core documents and 4 supplementary sources published between 2015 and 2025-including UN global assessments, annual SDG progress reports, regional reviews, and stakeholder guidance-to evaluate implementation of the 2030 Agenda. The evidence consistently indicates an implementation crisis. As of 2023, only 15-17% of assessable targets are on track for achievement by 2030, while approximately 37% have stalled or regressed relative to 2015, and 31 targets lack sufficient data for trend evaluation. The annual SDG financing gap for developing countries has expanded from roughly $2.5 trillion pre-COVID to around $4 trillion in the early 2020s, driven by pandemic aftershocks, conflict, rising debt distress, and climate-related losses. Cross-cutting barriers remain predominantly institutional-fragmented policy frameworks, weak horizontal and vertical coordination, chronic underinvestment in localization, and structural negative international spillovers linked to high-income consumption, trade, and financial flows. Where governance and investment are aligned, progress remains attainable-as demonstrated in health outcomes and electricity access-yet environmental targets show substantial regression. Achieving 1.5C-consistent pathways requires electricity systems to reach approximately 70-85% renewables by 2050, underscoring the magnitude of acceleration required. We outline priority reforms to the international financial architecture (enhanced debt relief, scaled climate finance, and renewed MDB mandates), more binding follow-up and review processes, systematic SDG localization, strengthened statistical capacity, private-sector incentive realignment, and just transition frameworks. We also identify critical research gaps in policy coherence mechanisms, private finance accountability, the debt-development-climate nexus, spillover measurement, and SDG interlinkages. Despite current trajectories, a meaningful course correction by 2030 remains possible through rapid, coordinated action across governance, finance, and consumption systems. |
| Keywords: | Sustainable Development Goals, 2030 Agenda, SDG implementation, governance, financing, multi-stakeholder partnerships, policy coherence, international spillovers, localization, climate action |
| Date: | 2026–02–27 |
| URL: | https://d.repec.org/n?u=RePEc:aue:wpaper:2606 |
| By: | César Ducruet; Mariantonia Lo Prete; Magali Dumontet; Barbara Polo Martin; Charbel ALKHOURY; Ling Sun; Sheng Zhang |
| Abstract: | This paper investigates the influence of multiple vessel traffics on air pollution and public health in European port cities. A sample of 120 Functional Urban Areas (FUAs) is analysed over the period 2000-2019, confronting container, cruise, liquid bulk, and solid bulk traffic with environmental (emissions of CO², PM2.5, NO²), public health (life expectancy, mortality rate), and socio-economic features like population density and GDP per inhabitant. Results from the fixed effects model show that population density is the major cause of all pollutions, followed by GDP and solid bulks, while life expectancy and mortality are mainly influenced by the nature of the local socio-economic environment (population density, age, GDP, bed rates, educational level). This is complemented by a factor analysis and a hierarchical clustering, which reveal the existence of three types of port cities: critical, tourism, and metropolitan. The typology of port cities is further discussed based on ground observation in particular sites. |
| Keywords: | Europe; Functional Urban Area; hinterland; port city; sea transport; specialization; supply chains |
| JEL: | R41 R11 Q53 Q56 O18 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:drm:wpaper:2026-5 |
| By: | Dugoua, Eugenie; Noailly, Joelle |
| Abstract: | This paper examines the patterns and mechanisms of global clean technology diffusion over the last two decades. We document four stylized facts: uneven sectoral progress favoring power and light transport; China’s dominance in innovation and manufacturing; the role of modularity in driving cost declines; and limited adoption in developing economies. Through case studies of solar, electric vehicles, and hydrogen, we analyze how policy and infrastructure enable scale. Finally, we assess emerging challenges for the next phase of diffusion, including critical mineral constraints, artificial intelligence, and geopolitical fragmentation. |
| Keywords: | clean technology diffusion; climate change mitigation; renewable energy; industrial policy; solar photovoltaics; electric vehicles; hydrogen |
| JEL: | O33 Q55 O20 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:137498 |
| By: | Giulio Breglia (Social Sciences Area, Gran Sasso Science Institute); Mariagrazia D’Angeli (Department of Economics, Roma Tre University and SEEDS); Giacomo Gazzellone (Department of Economics, Roma Tre University) |
| Abstract: | Natural hazards are an increasing concern, placing disaster preparedness and mitigation at the forefront of policy agendas. In this context, Italy’s Recovery and Resilience Plan (NRRP) has allocated €3 billion for explicit disaster prevention, with a primary focus on hydrogeological risks such as floods and landslides. This study evaluates the geographical and thematic distribution of resilience-related funding, examining whether financial resources have been effectively targeted toward municipalities with the highest exposure to environmental hazards. Using a clustering classification, we identify substantial disparities in the allocation of resilience funds, revealing that municipalities with relatively low risk levels often receive disproportionately high funding, while high-risk areas remain underfunded. To explore the underlying drivers of this misalignment, we apply a multinomial logit model to assess the socio-economic and geographic determinants of these funding disparities. Our findings indicate that GDP, macro-regional location, and past disaster occurrences significantly influence whether a municipality falls into a misallocated funding cluster. The misalignment between risk exposure and funding allocation raises questions about the criteria used for distributing adaptation investments and highlights the necessity for a more risk-sensitive and equitable approach. |
| Keywords: | Resilience and Recovery Facility, Risk, Floods, Disaster management |
| JEL: | Q54 H76 C38 |
| Date: | 2026–02 |
| URL: | https://d.repec.org/n?u=RePEc:fem:femwpa:2026.08 |
| By: | Dietz, Simon; Hastreiter, Nikolaus; Jahn, Valentin; Modirzadeh, Seyed Alireza |
| Abstract: | The TPI Centre’s Carbon Performance assessments to date have been predominantly based on the Sectoral Decarbonisation Approach (SDA).2 The SDA translates greenhouse gas emission reduction targets made at the international level (e.g. under the 2015 UN Paris Agreement) into benchmarks against which the performance of individual companies can be compared. The SDA recognises that different sectors of the economy (e.g. oil and gas production, electricity generation and automobile manufacturing) face different challenges arising from the low-carbon transition, including where emissions are concentrated in the value chain and how costly they are to reduce. Other approaches to translating international emissions targets into company benchmarks have applied the same decarbonisation pathway to all sectors, regardless of these differences [1]. Such approaches may result in suboptimal insights, as not all sectors have the same emissions profiles or face the same challenges: some sectors may be capable of faster decarbonisation, while others require more time and resources. |
| JEL: | R14 J01 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:137410 |
| By: | Magrini Chiara (European Commission - JRC); Gama Caldas Miguel (European Commission - JRC) |
| Abstract: | The Ecodesign for Sustainable Products Regulation (ESPR), which aims to improve the environmental sustainability and circularity of products in the European market, entered into force on 18 July 2024. This report outlines the methodology for defining minimum mandatory Green Public Procurement (GPP) requirements under the ESPR. The ESPR framework sets performance and information requirements through product-specific Delegated Acts, using a scientific approach and considering relevant technical information. A key feature of the ESPR is the possibility to set minimum mandatory GPP requirements for the purchase of products covered by delegated acts or for works or services where those products are used. These requirements are established through implementing acts in the form of Technical Specifications (TS), Award Criteria (AC), Contract Performance Conditions (CPC), or targets. The methodology developed in this report provides a structured approach to determine the advisability of GPP requirements, analyse their feasibility, assess their expected market impacts, and define the specific types of requirements. |
| Date: | 2026–02 |
| URL: | https://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc145122 |
| By: | Dingxin Tang (UB - Université de Bordeaux); Maider Saint-Jean (UB - Université de Bordeaux); Guido Sonnemann (UB - Université de Bordeaux) |
| Abstract: | To assess sustainable development, the Life Cycle Sustainability Assessment (LCSA) framework integrates LCA, LCC, and SLCA. However, LCC (LCSA's economic pillar) fails to address economic sustainability's complexity. The Ecological Economics approach integrates ecological principles with economic analysis, recognizing that the economy is a subsystem of the larger ecological system. Thus, links between LCSA economic indicators and ecological economics progress measures, with indicator compatibility, need exploration, in order to have a clear economic impact pathway in supporting public decision-makings. |
| Keywords: | Life Cycle Sustainability Assessment, Ecological economics, Impact pathway |
| Date: | 2025–11–18 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05525565 |
| By: | Ferreira De Almeida Vanessa (European Commission - JRC); Moya Jose (European Commission - JRC) |
| Abstract: | This factsheet provides an overview of sectoral emission sources, emissions breakdowns, decarbonisation trajectories, and estimated technology-specific CO₂ abatement costs. It further examines the evolution of decarbonisation technology maturity (from research and innovation to demonstration and deployment) in the timeline from 2025 to 2050 and evaluates the extent to which this evolution aligns with relevant policy targets and objectives. |
| Date: | 2026–02 |
| URL: | https://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc144091 |
| By: | Campos, Nauro (University College London); Ginefra, Flavia (LSE); Martelli, Angelo (LSE); Terzi, Alessio (University of Cambridge) |
| Abstract: | This paper reviews research across economics, political economy, political science, and public policy to investigate how institutions shape the adoption, implementation, and durability of climate policies. We examine how formal institutions (i) coordinate implementation capacity, (ii) anchor long-term commitments, and (iii) mediate distributional conflict. We also discuss how informal institutions, such as social norms and trust, further condition whether formal mechanisms translate into durable action. We distinguish quasi-experimental evidence from correlational and case-based findings, identifying where economic methods could further sharpen evidence, and conclude with a research agenda focused on institutional interdependencies and the conditions under which institutions can facilitate the adoption of effective and irreversible climate policies. |
| Keywords: | climate change, institutions, political economy, climate governance |
| JEL: | D72 H11 P48 O43 O44 Q54 Q58 |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18424 |
| By: | Dietz, Simon; Scheer, Antonina; Begley, Alfie |
| Abstract: | The TPI Centre’s Carbon Performance assessments to date have been predominantly based on the Sectoral Decarbonisation Approach (SDA).2 The SDA translates greenhouse gas emissions targets made at the international level (e.g. under the 2015 UN Paris Agreement) into appropriate benchmarks, against which the performance of individual companies can be compared. The SDA recognises that different sectors of the economy (e.g. oil and gas production, electricity generation and automobile manufacturing) face different challenges arising from the low-carbon transition, including where emissions are concentrated in the value chain and how costly it is to reduce emissions. Other approaches to translating international emissions targets into company benchmarks have applied the same decarbonisation pathway to all sectors, regardless of these differences [1]. Such approaches may result in suboptimal insights, as not all sectors have the same emissions profiles or face the same challenges: some sectors may be capable of faster decarbonisation, while others require more time and resources. |
| JEL: | R14 J01 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:137412 |
| By: | Khyati Malik |
| Abstract: | Agricultural soils represent one of the largest underutilized opportunities for climate mitigation through land-based carbon sequestration. This study analyzes how farmers make long-term decisions about adopting soil conservation practices, such as no-till and reduced tillage, when soil organic carbon (SOC) accumulation generates additional payments, while explicitly considering risk associated with SOC sequestration variability. Using an infinite-horizon dynamic optimization model, the study quantifies the carbon payment levels required to incentivize adoption across different soil types. Results show that the required payments vary widely, from $8/ton C/year on well-drained soils to $32/ton C/year on poorly drained soils, highlighting the need for spatially targeted carbon incentives. The analysis demonstrates that risk in the SOC sequestration amount affects farmer choices: higher uncertainty increases the payments needed and can lead farmers to prefer lower-risk, lower-reward practices. For farmers who value intertemporal consumption smoothing, compensation requirements rise with the elasticity of intertemporal substitution. These findings underscore the importance of accounting for soil heterogeneity, outcome variability, and intertemporal preferences when designing effective carbon payment programs to promote long-term soil carbon sequestration. |
| JEL: | Q10 Q15 Q50 |
| Date: | 2026–02 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:34902 |
| By: | Dietz, Simon; Hastreiter, Nikolaus; Jahn, Valentin; Amin, Ali; Modirzadeh, Seyed Alireza |
| Abstract: | The TPI Centre’s Carbon Performance assessments to date have been predominantly based on the Sectoral Decarbonisation Approach (SDA).2 The SDA translates greenhouse gas emissions targets made at the international level (e.g. under the 2015 UN Paris Agreement) into appropriate benchmarks, against which the performance of individual companies can be compared. The SDA recognises that different sectors of the economy (e.g. oil and gas production, electricity generation and automobile manufacturing) face different challenges arising from the low-carbon transition, including where emissions are concentrated in the value chain and how costly it is to reduce emissions. Other approaches to translating international emissions targets into company benchmarks have applied the same decarbonisation pathway to all sectors, regardless of these differences [1]. Such approaches may result in suboptimal insights, as not all sectors have the same emissions profiles or face the same challenges: some sectors may be capable of faster decarbonisation, while others require more time and resources |
| JEL: | R14 J01 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:137411 |
| By: | Ferreira De Almeida Vanessa (European Commission - JRC); Moya Jose (European Commission - JRC) |
| Abstract: | This factsheet provides an overview of sectoral emission sources, emissions breakdowns, decarbonisation trajectories, and estimated technology-specific CO₂ abatement costs. It further examines the evolution of decarbonisation technology maturity (from research and innovation to demonstration and deployment) in the timeline from 2025 to 2050 and evaluates the extent to which this evolution aligns with relevant policy targets and objectives. |
| Date: | 2026–02 |
| URL: | https://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc144089 |
| By: | Ignacio Banares-Sanchez; Robin Burgess; Dávid László; Pol Simpson; John Van Reenen; Yifan Wang |
| Abstract: | Do industrial policies that promote clean energy offer a “ray of hope”, increasing a country’s growth and welfare, whilst simultaneously reducing carbon emissions? We study the impact of Chinese solar subsidies whose implementation by city-regions went alongside massive expansion of the sector and a dramatic fall in global solar prices. We construct new city and firm panel data on solar policies, patenting and output. Using synthetic-difference-in-differences 2004-2020, we find production and innovation subsidies were more effective than demand-side (installation) subsidies in generating large and persistent increases in local innovation, net entry, production and exports. Demand policies did, however, reduce local pollution. To examine aggregate effects, we build and structurally estimate a quantitative spatial model with endogenous innovation and heterogeneous productivity across firms and cities, which accounts for business stealing and knowledge spillovers. Counterfactual analysis shows that: (i) local effects remain substantial at the macro level explaining 40%-50% of the aggregate changes in solar innovation, prices and revenues; (ii) social benefits to Chinese citizens exceed subsidy costs by 65% (and double this when environmental benefits are included); and (iii) although all subsidy types increase welfare, innovation subsidies are the most cost-effective. |
| JEL: | H25 L25 L5 L52 N5 O31 |
| Date: | 2026–02 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:34893 |
| By: | David Mensah Otoo (University of Cape Coast [Ghana]); Michael Danquah (GIMPA - Ghana Institute of Management and Public Administration [Accra]); Bazoumana Ouattara (University of Manchester [Manchester]); Emmanuel Fourmann (AFD - Agence française de développement) |
| Abstract: | In this study we incorporate the economic resources of countries and measure how countries are combining their resources to reduce income inequality. We also examine the effects of climate — temperature and rainfall — on effort by countries to reduce income inequality. We use an unbalanced panel of 160 countries from 1990 to 2020, and Stochastic Frontier Analysis (SFA) for this exercise. We find that on average, countries have exerted only 50 percent of their effort in reducing income inequality, but this effort differs from region to region. Sub Saharan Africa recorded the least average effort of 39 percent, albeit this varies across countries. This is an indication that the potential and scope for improvement to reduce income inequality differs across SSA countries. The findings show that introducing temperature and precipitation in the frontier model reduced the effort of countries in several regions. This implies the negative effects of climate as countries combine their economic resources to reduce income inequality. The direct effect of climate on countries' efforts to reduce inequality shows that both temperature and rainfall decrease the effort for developing countries. In the SSA sample, the negative effect of temperature on effort was significant whilst that of rainfall was negligible. |
| Keywords: | Income Inequality, Climate Change, Developing Countries, Sub Saharan Africa, Efficiency |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05521129 |
| By: | Dietz, Simon; Cho, Hayeon; Jahn, Valentin; Scheer, Antonina |
| Abstract: | The TPI Centre’s Carbon Performance assessments to date have been predominantly based on the Sectoral Decarbonisation Approach (SDA).2 The SDA translates greenhouse gas emissions targets made at the international level (e.g. under the 2015 UN Paris Agreement) into appropriate benchmarks, against which the performance of individual companies can be compared. The SDA recognises that different sectors of the economy (e.g. oil and gas production, electricity generation and automobile manufacturing) face different challenges arising from the low-carbon transition, including where emissions are concentrated in the value chain and how costly it is to reduce emissions. Other approaches to translating international emissions targets into company benchmarks have applied the same decarbonisation pathway to all sectors, regardless of these differences [1]. Such approaches may result in suboptimal insights, as not all sectors have the same emissions profiles or face the same challenges: some sectors may be capable of faster decarbonisation, while others require more time and resources. Therefore, the SDA takes a sector-by-sector approach, comparing companies within each sector against each other and against sector-specific benchmarks, which establish the performance of an average company that is aligned with international emissions targets. |
| JEL: | R14 J01 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:137420 |
| By: | Larsen, Mathias |
| Abstract: | This policy brief describes the key state-led policies China has enacted to steer capital towards a green transition and draws out lessons for other countries, particularly emerging markets and developing economies (EMDEs). |
| Keywords: | battery technology; central banks; China; EMDEs; green transition; renewables; solar; state owned enterprises; state policies; wind |
| JEL: | N0 F3 G3 |
| Date: | 2026–01–26 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:137523 |
| By: | Mejía, Leonardo Bonilla; Lopez-Feldman, Alejandro; Tribin Uribe, Ana Maria; Lopez Vera, Stefany |
| Abstract: | Global fertility is declining, yet it remains unclear whether and how climate-related hazards contribute to realized fertility change. This paper combines global fertility data with disaster records for 1950–2023 to estimate fertility responses to climate-related hazards, distinguishing between population disruption (affected-rate exposure) and lethality (death-rate exposure). Climate-related hazards show no systematic fertility response under population disruption but are associated with persistent fertility reductions under lethality lasting at least 15 years. Aggregate climate estimates mask heterogeneity across hazard types: storms and drought-related hazards drive fertility declines, whereas heat and cold waves are associated with modest fertility increases. Hydrological events show additional negative effects in high-lethality episodes. Over time, disruption-based effects remain weak, and lethality-based effects are consistently negative, although they have attenuated in recent decades. Fertility responses vary little across income groups, and non-climate disasters remain fertility-reducing. These results show that fertility responses to climate risk depend on hazard type and lethal severity, rather than on how many people are affected. |
| Date: | 2026–03–03 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wbrwps:11330 |
| By: | Saumitra N Bhaduri (Madras School of Economics, Gandhi Mandapam Road, Behind Government Data Centre, Kotturpuram, Chennai, 600025, India.); Ekta Selarka ((Corresponding author), Madras School of Economics, Gandhi Mandapam Road, Behind Government Data Centre, Kotturpuram, Chennai, 600025); Alankrti Aggrwal (Madras School of Economics, Gandhi Mandapam Road, Behind Government Data Centre, Kotturpuram, Chennai, 600025) |
| Abstract: | The paper examines the market reaction to the climate policy announcement (COP26) for the Indian listed firms using a novel measure of firm-specific exposure to climate-change developed by Sautner et al. (2023). The findings suggest that, while the overall market reaction is negative, firms with higher climate change exposure experience a significantly muted negative response. In contrast to the prevailing assumption that investors in emerging markets predominantly price exposure to risk, the findings indicate that firms engaging in proactive climate risk management receive favorable response. |
| Keywords: | Event study, Stock market, Climate change, Climate exposure, COP26 |
| JEL: | G14 G28 Q58 |
| Date: | 2026–02 |
| URL: | https://d.repec.org/n?u=RePEc:mad:wpaper:2026-294 |
| By: | Dietz, Simon; Amin, Ali; Cho, Hayeon; Scheer, Antonina |
| Abstract: | The TPI Centre’s Carbon Performance assessments to date have been predominantly based on the Sectoral Decarbonisation Approach (SDA). The SDA translates greenhouse gas emissions targets made at the international level (e.g. under the 2015 UN Paris Agreement) into appropriate benchmarks, against which the performance of individual companies can be compared. The SDA recognises that different sectors of the economy (e.g. oil and gas production, electricity generation, and automobile manufacturing) face different challenges arising from the low-carbon transition, including where emissions are concentrated in the value chain and how costly it is to reduce emissions. Other approaches to translating international emissions targets into company benchmarks have applied the same decarbonisation pathway to all sectors, regardless of these differences. Such approaches may result in suboptimal insights, as not all sectors have the same emissions profiles or face the same challenges: some sectors may be capable of faster decarbonisation, while others require more time and resources. Therefore, the SDA takes a sector-by-sector approach, comparing companies within each sector against each other and against sector-specific benchmarks, which establish the performance of an average company that is aligned with international emissions targets. |
| JEL: | R14 J01 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:137446 |
| By: | Marco Bidoia (Department of Economics, Ca’ Foscari University of Venice and Fondazione Eni Enrico Mattei); Carlo Giupponi (Department of Economics, Ca’ Foscari University of Venice and Fondazione Eni Enrico Mattei) |
| Abstract: | Coastal zones are among the environments most threatened by climate change. Although various efforts for global mapping and classification of coastal social and ecological systems have been undertaken, the ability to analyse and describe the spatial heterogeneity and multidimensionality of these phenomena remains limited. In the current study, we developed a methodological framework for assessing risk from extreme sea levels and examined its application at the global level. A multi-criteria analysis method was applied to the current scenario and to two future combinations of shared socioeconomic (SSP2 and 5) and representative concentration pathways (RCP4.5 and 8.5), accounting for risk attitudes. Risk maps derived from multi-criteria analysis aggregation of spatial indicators of hazard, vulnerability, and exposure enabled the identification of global hot spots, comprising large areas facing high levels of risk, mostly located in Northern Europe, South-East Asia and Southern USA. Spatial clusters with common risk features were identified and mapped using multivariate analysis. The results contribute to improving the state of the art by providing a synoptic view of global coastal risks. Given the high spatial resolution (1 km), the proposed methods may also be helpful for improving adaptation strategies at the regional and national scales and for facilitating the sharing of solutions between areas with similar situations identified by cluster mapping. |
| Keywords: | Coastal zones, climate change, extreme sea levels, scenario, multi-criteria analysis, data-driven analysis, adaptation |
| JEL: | Q5 |
| Date: | 2026–01 |
| URL: | https://d.repec.org/n?u=RePEc:fem:femwpa:2026.04 |
| By: | Goumet, Laudine; Menegat, Martina; Almeida, Elena; Waaifoort, Maria; Smolenska, Agnieszka |
| Abstract: | Nature degradation is increasingly recognised as a source of prudential and macrofinancial risk. This has prompted regulators and banks in the European Union to move beyond climate-only approaches to assess broader environmental exposures. An analysis of 15 EU banks’ public disclosure documents reveals a developing approach to nature-risk mitigation but a gap between ambition and implementation. Banks, financial supervisors and regulators should build on emerging good practices even in the face of regulatory rollbacks. They should treat nature-related risks as material prudential concerns, strengthen monitoring and assessment frameworks, and address environmental risks in their entirety rather than through a climate lens alone. |
| JEL: | F3 G3 N0 |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:137487 |
| By: | Koppolu, Sarath Chandra; Steinhuebel-Rasheed, Linda; Maruejols, Lucie |
| Abstract: | In this study, we pilot a workflow in Fayoum, Egypt, using freely available high-resolution imagery and an iteratively expanded, custom-labeled dataset, to explore whether small-object detection can feasibly track solar-powered irrigation adoption. If feasible, this approach can provide a low-cost, scalable foundation for evidence-based policy. Beyond mapping adoption, the method also has potential to link solar irrigation detection to environmental and agricultural outcomes, such as vegetation dynamics, cropping intensity, or water use efficiency. |
| Keywords: | irrigation; solar powered irrigation systems; monitoring systems; Egypt; Africa; Northern Africa |
| Date: | 2026–02–02 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:menapn:181060 |
| By: | Claudia Foroni Paolo Gelain Marco Lorusso Massimiliano Marcellino |
| Abstract: | We quantify the effect of severe weather shocks on the US economy in an environment in which the economy can switch between periods of financial stability and financial instability, like the Great Recession. We estimate a New Keynesian dynamic stochastic general equilibrium model with banks and severe weather events. We show that severe weather shocks: 1) have a negative impact on real and financial US variables, sizable only in periods of financial instability, but muted effects on nominal variables; 2) are never a relevant source of business cycles fluctuations; 3) transmit mainly via a deterioration in the quality of capital. |
| Keywords: | Severe weather shocks, Actuaries Climate Index, NK DSGE models, Financial frictions, Markov Switching |
| JEL: | Q54 E32 E44 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:baf:cbafwp:cbafwp26266 |
| By: | Filippo Pavanello; Guglielmo Zappalà |
| Abstract: | Higher temperatures can increase substance abuse and exacerbate its physiological effects on the human body, raising the risk of violent behavior. Using administrative crime records and daily temperatures in the United States between 1991 and 2023, we show that two public policies regulating substance abuse — the expansion of substance abuse treatment facilities and the reformulation of the prescription opioid OxyContin — substantially moderate the impact of temperature on interpersonal violent crime. We monetize the policy benefits for intimate partner violence, the most widespread crime in the United States, and show that substance abuse regulations can be a cost-effective tool for climate adaptation. |
| Keywords: | adaptation, public health, substance abuse regulation, temperature, violent crime |
| JEL: | I18 J16 K32 K42 Q51 Q54 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12514 |
| By: | Aragie, Emerta A.; Thurlow, James; Warner, James; Niyonsingiza, Josue |
| Abstract: | This research extends IFPRI’s RIAPA modeling to include both the full implementation of PSTA 5’s climate smart agriculture and a once-in-five-year weather shock, and the interactions of both on agricultural sectors, agricultural GDP, and on national GDP. Main findings include: Rwanda’s agri-food system is highly vulnerable to climate variability due to its structural characteristics. Results indicate that CSA practices during the PSTA-5 period (2024/25–2028/29) increase agricultural GDP growth by 0.9 percentage points annually, with the largest impacts on horticulture and roots and tubers. However, several CSA interventions relate to infrastructural improvements and therefore the benefits extend over a longer time horizon, ultimately having even greater impact beyond PSTA 5. The weather shock causes dramatic declines in agricultural GDP (-1.6 percent), with horticulture affected most negatively, suffering a 2.4 percent decline. The joint Climate + CSA scenario depicts how CSA helps mitigate, but not fully eliminate, the negative impacts of weather shocks during the PSTA 5 period. |
| Keywords: | climate-smart agriculture; modelling; food systems; agricultural policies; Rwanda; Africa; Sub-Saharan Africa; Eastern Africa |
| Date: | 2026–01–14 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:polbrf:179844 |
| By: | Sumaya Islam (Paderborn University); Tobias Buchta (Paderborn University); Colin Wooldridge (Texas A&M University-Corpus Christi) |
| Abstract: | Entrepreneurial decision-making often unfolds in an environment of uncertainty, resource constraints, and conflicting value systems, intensifying the tension between mission-oriented ideals and pragmatic economic constraints. In this paper, we analyze entrepreneurs' willingness to compromise on environmental, social, and governance (ESG) criteria and their underlying cognitive justifications. Our study with 79 entrepreneurs combines a conjoint design with validated scales for moral disengagement (MD) and founder identity. We investigate (a) the entrepreneurs' preferences for ESG attributes, (b) their general willingness to compromise on ESG criteria, and (c) the differences between social and commercial entrepreneurs. Our results show that first, entrepreneurs' willingness to compromise on ESG criteria is positively related to their level of MD, second, entrepreneurs' willingness to compromise on ESG criteria depends on their founder identity: missionaries, common among social entrepreneurs, show lower MD and lower willingness to compromise on ESG criteria, while darwinians, common among commercial entrepreneurs, show higher MD and higher willingness to compromise on ESG criteria, and third, entrepreneurs have a blind spot for the governance criterion when making ESG-related decisions. Our study contributes to the literature on entrepreneurship and business ethics by offering a context-specific theoretical model of MD in the new venture creation process and by providing evidence of differences in MD between social and commercial entrepreneurs. Thus, the findings reveal that MD and its interaction with founder identity play a key role in influencing ESG decisions, which in turn impact the legitimation and reputation of new ventures, stakeholder trust, and progress in achieving the United Nations’ Sustainable Development Goals. Besides, they have implications for investors, regulators, and entrepreneurship ecosystem builders who seek to foster sustainable new ventures amid ESG reporting mandates and accountability pressures. |
| Keywords: | Moral Disengagement, Social Entrepreneurship, Ethical Decision, Conjoint Analysis, Founder Identity |
| Date: | 2026–02 |
| URL: | https://d.repec.org/n?u=RePEc:pdn:dispap:169 |
| By: | Anobile, Fabio; Costantiello, Alberto; Drago, Carlo; Arnone, Massimo; Leogrande, Angelo |
| Abstract: | This paper examines the connection between Environmental, Social, and Governance (ESG) factors and the risk of geopolitics, as defined by the Geopolitical Risk (GPR) index. The concept of geopolitical risk is conventionally defined as the direct result of political incidents, war, and international tensions. The current study argues that the concept should be understood in a more structural and sustainable manner, relating to the underlying forces driving geopolitical risk. The main research question is whether and how the three pillars of the ESG factors contribute to the explanation and understanding of cross-country and over-time variations in geopolitical risk. In an effort to avoid the information losses associated with the aggregate nature of the ESG index, the three factors are considered separately and the three pillars are analyzed individually. The empirical context is a balanced cross-country panel data set including 42 countries over the 2000-2023 time period. The data for the three factors is obtained from the World Bank dataset in an effort to standardize and compare the data in a cross-country and cross-time manner. The GPR index is used to measure the level of geopolitical risk and is defined by Dario Caldara and Matteo Iacoviello. The GPR index captures the level of geopolitical tensions based on the analysis of media signals. The combination of the three sources allows for the direct connection and correlation between the three factors and the internationally recognized GPR index. The paper uses an integrated methodological approach that combines the results from three different approaches. The first method uses panel data analysis in an effort to identify the average marginal effects while controlling for unobserved heterogeneity. The second method uses the technique of clustering in an effort to identify structural patterns and divide the countries into groups based on their unique characteristics and risk profiles. The third method uses machine learning regressions and nonparametric analysis in an effort to capture the complex relationships and interactions in the data. The three-step method is used for each pillar in an effort to ensure consistency and comparability. The results suggest that the three factors contribute to the GPR index in a unique manner. The environment and energy structure contribute to the GPR index as a risk multiplier, the social factor is related to the exposure to instability, and the governance factor is a central stabilizing factor. The paper makes a unique contribution to the literature by defining the concept of the three factors and their relationship to the GPR index in a unique and sustainable manner. |
| Keywords: | ESG, Geopolitical Risk, Sustainability, Environmental and Social Factors, Governance Quality |
| JEL: | D74 F50 O17 P48 Q56 |
| Date: | 2026–01–22 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:127818 |
| By: | Wollenweber, Alexander; Wang, Dieter; Ranger, Nicola |
| Abstract: | This paper investigates the uneven consequences of nature and biodiversity loss for the cost of sovereign government borrowing. A growing literature documents the adverse economic consequences of climate change. However, little attention has been devoted to the influence of nature degradation on sovereign bond yield spreads, which determine government’s funding costs and fiscal policy space. Employing panel interactive fixed effects and quantile regressions with latent factors, we extend the literature to the nature context with three proxies for countries’ nature-related financial vulnerability. Across 28 advanced and 25 emerging economies over the 2000-2020 period and 2, 5, and 10-year bond maturities, our results indicate substantial average impacts from within-country degradation for sovereign borrowing costs whilst controlling for conventional economic and institutional determinants, and common global financial factors. Our second-stage heterogeneity analysis reveals significant variation in impacts. We find that countries with elevated sovereign risk are disproportionally impacted by nature vulnerability, up to three times the average marginal effect of forty-to-fifty basis points for countries in the 90th percentile of borrowing costs. Our novel empirical results underline the asymmetric macro-criticality of nature for sovereign borrowing costs with disproportional effects that exacerbate existing macro-financial fragilities. Yet the financial effects are unlikely to be confined to debt-distressed, high-risk and nature-dependent countries, considering the integrated nature of global supply chains and sovereign debt markets. |
| JEL: | F3 G3 N0 |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:137486 |
| By: | Lihini de Silva (Centre for Health Economics, Monash Business School, Monash University); David Johnston (Centre for Health Economics, Monash Business School, Monash University); Sundar Ponnusamy (Department of Economics, Deakin University) |
| Abstract: | Government funding for environmental disasters and climate adaptation can strongly influence community recovery and resilience-building. Yet given funding is often distributed via competitive schemes, inequities may arise if allocation is determined by factors such as cost effectiveness rather than need. Consequently, disadvantaged communities may receive inadequate support and be highly vulnerable to future disasters. We examine whether federal government community grants following the Australian 2019/20 Black Summer Bushfires were distributed equitably. Using detailed grant-level data including where the grant activity took place, the recipient organisation, and the amount awarded, we find that even after controlling for physical exposure to the fires, communities that are more vulnerable by demographics (e.g., more children, elderly people, non-working individuals, and First Nations people) receive less. Communities with larger ethnic minority populations also get less though this result is not as robust. Conversely, communities with greater built environment vulnerability (i.e., more remote) receive more. We demonstrate that lower funding for demographics and minority vulnerable communities manifest mostly via grants targeting economic and social outcomes whilst higher funding for built environment vulnerable communities is largely driven by infrastructure grants. Furthermore, inequities persist across organisation types including government institutions, which are expected to more carefully consider equity compared to non-government organisations. Finally, the observed inequities hold even across grants received by the same organisation. Altogether, our findings suggest a tension in competitive grant schemes between targeting need and funding projects that are more likely to be successful and cost effective, resulting in socially vulnerable communities receiving less. |
| Keywords: | disaster relief, equity, social vulnerability, disaster resilience |
| JEL: | Q54 H76 I38 |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:mhe:chemon:2026-03 |
| By: | Shoji Haruna; Rajeev K. Goel; Kenta Yoshioka |
| Abstract: | Firms’ efforts to reduce pollution emissions in their production processes are induced by market forces as well as governmental regulatory instruments. The market forces, which might induce firms to increase production to maximize profits, work at cross-purposes. One of the common solutions is that firms resort to R&D investment, which lowers production costs with greater pollution being an unwelcome by-product (the tax burden effect). Pollution abatement (PA) investment, which is another solution, focuses on reducing emissions, with no direct impacts on production costs. We evaluate whether R&D investment effectively plays a role in profit maximization depends on the tax burden effect. Besides, judging from a socio-economic perspective, the PA strategy is significantly superior to the R&D strategy when (pollution) damage cost parameters are medium or high. However, the reverse result holds when they are small. Our findings thus formally flesh out the implications of choosing R&D versus PA strategies in response to pollution control regulations. |
| Keywords: | R&D, cost-reduction, pollution abatement, emissions taxes, Nash equilibrium |
| JEL: | Q58 H23 O33 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12528 |
| By: | Sebastian Raimondo (Fondazione Eni Enrico Mattei); Martino Biondani (Fondazione Eni Enrico Mattei and University of Vienna, Department of Economics); Carlo Giupponi (Fondazione Eni Enrico Mattei and Ca’ Foscari University of Venice, Department of Economics) |
| Abstract: | Overtourism is not just overcrowding: it is a systemic imbalance sustained by feedbacks between visitors, residents’ welfare, the performance of local facilities, and environmental quality. Tourism carrying capacity sits at the centre of overtourism research and policy, yet it is still commonly operationalised as static visitor limits, implicitly assuming that thresholds could be set without accounting for the feedbacks they are meant to regulate. Here we introduce a minimal dynamical model that retains the essential feedbacks through which residents, tourists, economic capital, and environmental quality co-evolve. From this model, a formal definition of tourism carrying capacity emerges as a state-dependent quantity shaped by economic conditions, environmental quality, and social responses, and tempered by congestion and competitive pressure. rucially, capacity alone is a weak planning target: sustainability depends on the long-run regime selected by the coupled system, and on how that regime shifts under perturbations. A bifurcation analysis of policy-relevant parameters maps tipping points and the resulting regime structure, from stable coexistence to multistability and sustained oscillations, including overtourism outcomes where tourism and capital persist while residents and environmental quality collapse. Overall, the results clarify, in a unified and rigorous setting, why capacity thresholds may inadequately reflect the dynamic complexity of tourism systems, and how integrated dynamical analyses can inform more robust policy design. |
| Keywords: | tourism carrying capacity, tourism, socio-ecological modelling, non-linear systems, tipping points |
| JEL: | C02 C62 C65 C69 Z3 |
| Date: | 2026–02 |
| URL: | https://d.repec.org/n?u=RePEc:fem:femwpa:2026.06 |
| By: | Phoebe Koundouri; Angelos Alamanos; Giannis Arampatzidis; Anna Triantafyllidou; Dimitris Raptis |
| Abstract: | Tourism is the economic backbone of many Mediterranean communities, but its benefits come with a hidden problem: the seasonal surge of visitors concentrates energy and water demand into a few months each year. This report asks a practical question: can national decarbonization plans that succeed on annual targets also ensure reliable service and water security during short, intense tourism peaks? To answer this, we built an integrated modelling framework linking a global economy model (GTAP-E) with a detailed energy model (LEAP) and a water-withdrawal module (WaterReqGCH), and we ran coherent Business-as-Usual and National-Commitment scenarios to 2050 for Greece and Cyprus. Three headline messages emerge: - First, National-Commitment measures deliver major gains on annual metrics: economy-wide technology and efficiency changes cut annual energy-sector emissions dramatically in both countries and reduce long-run final energy needs compared with unchecked growth. - Second, and crucially, annual success does not automatically remove seasonal risk: when we translate economy-wide activity into monthly energy and water profiles using observed post-pandemic tourism seasonality, tourism-linked sectors (air and water transport, accommodation and tourism services) still generate strong summer peaks (often close to or above current peak levels) even under ambitious decarbonization assumptions. So, these countries can be "on track" for net-zero on paper while still being vulnerable to summer outages and water shortages in practice. - Third, the shape of seasonality matters for policy: Greece shows sharper, higher mid-summer peaks concentrated in a few months, while Cyprus shows a longer high-season plateau. This difference implies different operational and investment priorities between the two countries (short, intense surge management in Greece; extended seasonal resilience in Cyprus). These results come from an intentionally conservative, policy-oriented design: GTAP-E produces macro-consistent sectoral activity paths, LEAP converts those into sectoral energy and emissions outcomes under NECP measures, and WaterReqGCH disaggregates annual withdrawals into months using tourism and agricultural seasonality proxies. The chain preserves economy-level consistency while making intra-annual peaks visible-an assessment style that is still rare in national (annual) planning exercises. For policymakers the implications are straightforward and actionable, summarized in our final section: - Add peak-aware diagnostics to energy and water plans: require scenario tests that report peak-month electricity demand in tourism-linked services, peak system adequacy metrics (summer capacity margin, stress hours), and peak-month water-stress indicators. - Target peak drivers, not just annual averages: accelerate efficiency and demand-management in accommodation and tourism services, promote temporal pricing and incentives to shift demand to shoulder months, and prioritize shore-power, electrified services at airports and ports. - Coordinate energy and water operations where peaks co-locate (islands, coastal ports): schedule maintenance outside peak windows, align desalination and pumping plans with expected seasonal electricity supply, and embed contingency rules in water management plans. - Tailor strategies to the national seasonality signature rather than applying a one-size-fits-all approach across the region. This report does not claim to forecast the future; it offers a robust diagnostic: under realistic activity trajectories, tourism seasonality remains a potential operational constraint even when countries are reducing annual emissions. That diagnostic should reshape how we judge decarbonization progress: success must be measured by both annual climate metrics and seasonal operational resilience. The modelling framework and policy steps documented here provide a practical blueprint for other tourism-intensive, water-sensitive regions that face the same trade-offs between greener energy systems and the resilience needed to serve peak-season communities and visitors. |
| Date: | 2026–02–27 |
| URL: | https://d.repec.org/n?u=RePEc:aue:wpaper:2607 |
| By: | Julius Berger; Felix Creutzig; Waldemar Marz |
| Abstract: | EV adoption in emerging economies (lower-middle income, fast urbanization and income growth) mitigates emissions of greenhouse gases and local pollutants from gasoline consumption, but at the same time exacerbates urban sprawl. This implies longer driving distances for commuting and non-work trips and higher consumption of floor space per capita and related energy demand for cooling/heating. We model scenarios of full electrification of transport in China, India, Brazil, and Nigeria until 2060, accounting for income growth, population growth, urbanization, public-transport shares, and power-mix scenarios for each country. On average in 2040, 209 percent of the direct carbon emission savings from EV adoption are offset by additional sprawl through increasing VKT (22 percent) and growing energy demand in the building sector (187 percent). Additional urban sprawl from EV adoption leads to the development of 1.2 million square kilometers until 2060. This is equivalent to 32 percent of arable land in 2024. |
| Keywords: | EV adoption, urban sprawl, emerging economies |
| JEL: | Q54 Q48 R14 R41 O18 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12531 |
| By: | Claudio Pirrone; Stefano Fricano; Gioacchino Fazio |
| Abstract: | We construct a stochastic dynamical systems theory in which sustainability is a structural boundary property of a fully coupled Earth--Human--Production system. Each subsystem is modelled as a vector-valued process governed by stochastic differential equations with multiplicative noise and absolute bidirectional cross-subsystem flows. Biodiversity is endogenous, and societal evaluation is represented by a reflexive functional whose weights depend on evolving human capabilities. Sustainability, development, and sustainable development are defined as trajectory properties. Sustainability corresponds to boundary non-attainment with positive or unit probability; development corresponds to local ascent in the evaluation functional; sustainable development requires directional alignment under strictly positive survival probability. No optimisation problem is imposed. Necessary and sufficient conditions are derived using Feller boundary classification and stochastic Lyapunov methods. A central result identifies the sign of the net absolute cross-subsystem flow on each component as a phase-transition parameter: if negative near zero, the boundary is of exit type and almost-sure persistence is structurally impossible, independent of intrinsic regeneration, capability accumulation, or productivity parameters. Because flows are absolute, any perturbation diffuses through the entire coupled system without requiring correlated exogenous shocks. The reflexive evaluation structure generically induces non-transitive development relations, providing a formal mechanism for path-dependent welfare comparisons. Sustainability emerges as a geometric property of boundary structure and vector-field alignment, not as a corollary of intertemporal optimality. |
| Date: | 2026–02 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2602.23402 |
| By: | Pies, Ingo; Hielscher, Stefan |
| Abstract: | Große gesellschaftliche Herausforderungen sind systemischer Natur. Sie erfordern koordinierte Verhaltensänderungen sowie eine verlässliche normative Orientierung. Vorherrschende Nachhaltigkeitsansätze behandeln Zielvorgaben wie die Sustainable Development Goals der Vereinten Nationen als fixe Ziele, die es nur noch umzusetzen gilt. Im Gegensatz dazu entwickelt dieser Beitrag eine ordonomische Perspektive, die Nachhaltigkeit als einen offenen Prozess normativen Lernens auffasst. Der Methodologischen Instrumentalismus wird als Argumentationsgrammatik eingeführt. Sie basiert auf dem praktischen Syllogismus und leitet die Generierung normativ überzeugungskräftiger Argumente methodisch an. Dieses Verfahren unterstützt sowohl die Umsetzung bestehender Nachhaltigkeitsziele als auch ihre kritische Neubewertung. An einem konkreten Beispiel wird gezeigt, wie sich institutionelle Arrangements durch Stakeholder-Dialoge, experimentelles Vorgehen und kontinuierliche Feedbackprozesse weiterentwickeln lassen. Der ordonomische Ansatz bietet damit eine dynamische, institutionell fundierte Alternative zu statischen, technokratischen oder moralistischen Konzeptionen von NachhaltigkeitsGovernance. |
| Abstract: | Grand societal challenges are systemic in nature. They require coordinated behavioral change as well as reliable normative orientation. Prevailing sustainability approaches treat targets such as the United Nations' Sustainable Development Goals as fixed objectives that merely need to be implemented. In contrast, this paper develops an ordonomic perspective that conceives of sustainability as an open-ended process of normative learning. Methodological Instrumentalism is introduced as a grammar of argumentation. Grounded in the practical syllogism, it provides methodological guidance for generating normatively persuasive arguments. This procedure supports both the implementation of existing sustainability goals and their critical reassessment. Using an illustrative case, the paper demonstrates how institutional arrangements can evolve through stakeholder dialogue, experimental approaches, and continuous feedback processes. The ordonomic approach thus offers a dynamic, institutionally grounded alternative to static, technocratic, or moralistic conceptions of sustainability governance. |
| Keywords: | Argumentationskompetenz, Ordonomik, Tierschutz, Tierrechte, Tierwohl, Nachhaltigkeit, Corporate Citizenship, New Governance, Argumentation Skills, Ordonomics, Animal Protection, Animal Rights, Animal Welfare, Sustainability |
| JEL: | M14 D63 Q56 Q57 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:mlucee:337445 |
| By: | Rennels, Lisa; Kingdon, Cora; Plevin, Richard J.; Rising, James; Anthoff, David (Resources for the Future) |
| Abstract: | Integrated assessment models that couple representations of human and natural systems play a central role in climate economics research and climate policy analysis, but their interdisciplinary scope and increasing complexity demand more advanced computational platforms. The fragmented ecosystem of tools and programming languages used for these models slows research, impedes transparent policy analysis, complicates cross-institutional collaboration, and creates barriers for newcomers to programming. This paper presents Mimi, an open source software platform designed to address these challenges. We present Mimi’s key design features and ways they align with the goals of computational performance, ease of use for computer science novices, support for modular workflows and disparate teams, and facilitation of transparent, reproducible analysis. We highlight Mimi’s adoption in academic and public-sector contexts. Mimi is an example of how careful design of new computational tools can support novel research and its application to policy.Keywords: Climate change policy, open source software, integrated assessment modeling, domain specific language, Julia programming language, reproducible research |
| Date: | 2026–03–11 |
| URL: | https://d.repec.org/n?u=RePEc:rff:dpaper:dp-26-04 |
| By: | Krekel, Christian; Goebel, Jan; Rehdanz, Katrin |
| Abstract: | Most people consider parks important for their quality of life, yet systematic causal evidence is missing. We exploit exogenous variations in their use values to estimate causal effects. Using a representative household panel with precise geographical coordinates of households linked to satellite images of green spaces with a nationwide coverage, we employ a spatial difference-in-differences design, comparing within-individual changes between residents living close to a green space with those living further away. We exploit Covid-19 as exogenous shock. We find that green spaces raised overall life satisfaction while reducing symptoms of anxiety (feelings of nervousness and worry) and depression. There is also suggestive evidence for reduced loneliness. Given the number of people in their surroundings, a compensating-surplus calculation suggests that parks added substantial benefits during the period studied. |
| Keywords: | parks; green spaces; mental health; wellbeing; quasi-natural experiment; compensating surplus |
| JEL: | I10 I31 R23 H41 Q51 |
| Date: | 2026–05–31 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:137488 |
| By: | Dongsoo Kim (Korea Institute for Industrial Economics and Trade) |
| Abstract: | During the previous era of rapid globalization and relatively free trade, the primary goal of establishing global supply chains was to minimize costs and leverage comparative advantages. But as global geopolitical competition has intensified, major governments have erected trade barriers to shield their domestic industries. Export controls and other protectionist measures have led private and public actors alike to work to stabilize and de-risk their supply chains. Nowhere is this more evident than in the supply chain for critical mineral resources (CMR), which collectively represent the essential inputs in electric vehicles (EV) and energy storage system (ESS) batteries. The geopolitical climate is one of two major risks in CMR supply chains. The other is the overconcentration of CMR mining and processing in a handful of countries. This risk has led governments to pursue international cooperation with resource-rich developing countries such as Indonesia and Viet Nam. But many resource-rich countries often lack sufficient capacity to explore, mine, and refine enough CMR to meet global demand. With this in mind, this report investigates the current state of the CMR supply chains. Based on the results of the analysis, it proposes a suite of Executive Summary12 Cooperation for Establishing Critical Minerals Industrial Ecology in ASEAN sustainable CMR supply chain and industrial development cooperation measures targeting partnerships between advanced manufacturing countries and resource-rich developing countries. |
| Keywords: | critical minerals; critical minerals resources; CMR; ASEAN; South Korea; supply chains; batteries; battery industry; nickel; rare earth elements; REEs; mining; rare earths; Indonesia; development coop |
| JEL: | L72 L78 L61 L65 L52 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ris:kietop:022363 |
| By: | Pies, Ingo; Hielscher, Stefan |
| Abstract: | Grand societal challenges are systemic in nature. They require coordinated behavioral change as well as reliable normative orientation. Prevailing sustainability approaches treat targets such as the United Nations' Sustainable Development Goals as fixed objectives that merely need to be implemented. In contrast, this paper develops an ordonomic perspective that conceives of sustainability as an open-ended process of normative learning. Methodological Instrumentalism is introduced as a grammar of argumentation. Grounded in the practical syllogism, it provides methodological guidance for generating normatively persuasive arguments. This procedure supports both the implementation of existing sustainability goals and their critical reassessment. Using an illustrative case, the paper demonstrates how institutional arrangements can evolve through stakeholder dialogue, experimental approaches, and continuous feedback processes. The ordonomic approach thus offers a dynamic, institutionally grounded alternative to static, technocratic, or moralistic conceptions of sustainability governance. |
| Abstract: | Große gesellschaftliche Herausforderungen sind systemischer Natur. Sie erfordern koordinierte Verhaltensänderungen sowie eine verlässliche normative Orientierung. Vorherrschende Nachhaltigkeitsansätze behandeln Zielvorgaben wie die Sustainable Development Goals der Vereinten Nationen als fixe Ziele, die es nur noch umzusetzen gilt. Im Gegensatz dazu entwickelt dieser Beitrag eine ordonomische Perspektive, die Nachhaltigkeit als einen offenen Prozess normativen Lernens auffasst. Der Methodologischen Instrumentalismus wird als Argumentationsgrammatik eingeführt. Sie basiert auf dem praktischen Syllogismus und leitet die Generierung normativ überzeugungskräftiger Argumente methodisch an. Dieses Verfahren unterstützt sowohl die Umsetzung bestehender Nachhaltigkeitsziele als auch ihre kritische Neubewertung. An einem konkreten Beispiel wird gezeigt, wie sich institutionelle Arrangements durch Stakeholder-Dialoge, experimentelles Vorgehen und kontinuierliche Feedbackprozesse weiterentwickeln lassen. Der ordonomische Ansatz bietet damit eine dynamische, institutionell fundierte Alternative zu statischen, technokratischen oder moralistischen Konzeptionen von NachhaltigkeitsGovernance. |
| Keywords: | Argumentation Skills, Ordonomics, Animal Protection, Animal Rights, Animal Welfare, Sustainability, Corporate Citizenship, New Governance, Argumentationskompetenz, Ordonomik, Tierschutz, Tierrechte, Tierwohl, Nachhaltigkeit |
| JEL: | M14 D63 Q56 Q57 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:mlucee:337446 |
| By: | Yoro Diallo; Patricia L Escalante; Ms. Linda Kaltani; Mr. Tümer Kapan; Friederike Langowski; Dan Nyberg |
| Abstract: | The Resilience and Sustainability Facility (RSF), which was added to the IMF’s lending toolkit in 2022, provides affordable longer-term financing to support countries undertaking macrocritical reforms to reduce risks to prospective BoP stability emanating from extreme weather events and pandemics. This paper draws early lessons from RSF arrangements by exploring whether they have been able to meet one of their core objectives, namely catalyzing financing from other sources. A multipronged approach is used consisting of a survey of country teams, an econometric study, and analysis of non-traditional data. According to a survey of IMF country teams most countries with RSF arrangements received climate finance, mainly from synergies with public sources. The econometric analysis shows that approval of an RSF is associated with increased MDB climate finance and Official Development Assistance (ODA) in low-income countries, thus strengthening the RSF’s link to BoP stability. Non-traditional data drawing from news media and labor market developments point to potential higher financing in the future. |
| Keywords: | IMF-supported programs; catalytic finance; econometric analysis; entropy balancing; non-traditional data. |
| Date: | 2026–03–06 |
| URL: | https://d.repec.org/n?u=RePEc:imf:imfwpa:2026/038 |
| By: | Larsen, Mathias |
| Abstract: | This policy brief sets out India’s approach to financing green industrial policy, and particularly the expansion of solar power, in the context of limited fiscal resources and India’s 2070 net zero goal. The brief describes the success of state-organised financing policies for solar power and lessons that can be applied to other emerging markets and developing economies (EMDEs). |
| Keywords: | EMDEs; India; industrial policy; solar power; state owned enterprise |
| JEL: | R14 J01 E6 |
| Date: | 2026–01–26 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:137528 |
| By: | Fabbri Emanuele (European Commission - JRC); Innocenti Niccolò; Bole Domen; Šćepanović Biljana; Rakčević Balša; Vojinović Ivana; Jabučanin Boris; Latinović Nedeljko; Kojić Jovana; Radulović Valentina; Laušević-odalović Maja; Morić Ilija; Zvizdojević Jelena; Nikolić Ratko; Vujičić Savica; Fabbri Emanuele (European Commission - JRC); Janković Mijanović Ivana |
| Abstract: | The Smart Specialisation Strategy (S3) is a place-based economic agenda that Montenegro, as the first non-EU country to adopt a strategy based on this framework, is now updating for the 2026–2031 period. This new iteration elevates S3 to a national ‘umbrella’ strategy, utilizing comprehensive quantitative and qualitative mapping to identify the country’s economic, scientific, and innovative strengths. The resulting report serves as an analytical foundation for the upcoming Entrepreneurial Discovery Process (EDP), where stakeholders collaborate to finalize Montenegro’s strategic priority domains. The analysis identifies five preliminary priority areas for Montenegro’s 2026–2031 S3 strategy: Construction, Energy and Sustainable Environment, Sustainable Agriculture and Food, Digital Innovation and Transformation, and Innovative and Sustainable Tourism. While sectors like Construction and Energy are highlighted for their roles in infrastructure and green transitions, the ICT and Tourism sectors stand out as high-growth pillars, contributing significantly to GDP and export potential. |
| Date: | 2026–02 |
| URL: | https://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc145542 |
| By: | Silvia Griselda; Paola Profeta; Giulia Savio |
| Abstract: | Students’ university experience includes both academic and non-academic outcomes, which are shaped by the educational environment in which students interact. We refer to this environment as university climate and measure it along three dimensions: conformity to masculinity-related attitudes and perceptions, the perceived academic impact of mental health (worry and anxiety), and classroom interactions. Using administrative records combined with original survey data, and exploiting the random assignment of students to teaching classes within degree programs at an Italian university, we identify the causal effect of peer gender composition on university climate and academic performance. Greater exposure to female peers reduces conformity to masculinity-related attitudes, lowers the perceived academic impact of mental health, fosters more collaborative classroom interactions, and increases academic performance. These effects are observed for both male and female students. Our findings provide causal evidence that peer gender composition influences multiple dimensions of university climate beyond academic achievement alone. |
| Keywords: | gender, education, mental health, masculinity attitudes, classroom interactions, academic performance, univerisity climate |
| JEL: | D91 I21 I24 J16 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12523 |
| By: | Alessio D’Amato (University of Napoli Parthenope; Sustainability Environmental Economics and Dynamics Studies (SEEDS)); Loredana Mirra (University of Rome “Tor Vergataâ€); Andrea Rampa (University of Rome “Tor Vergata†; Sustainability Environmental Economics and Dynamics Studies (SEEDS)) |
| Abstract: | This study analyses the determinants of consumer choice between bottled and tap water in Italy, a nation characterised by high bottled water consumption despite having a safe public supply. We first develop our testable predictions out of a simple conceptual framework based on Viscusi et al. (2015), augmented to account for pro-social attitudes and an “ego-rent†mechanism . Then, Using a large-scale Italian level survey of 7, 292 individuals, we employ an Extended Ordered Probit (EOP) framework to investigate the relationship across bottled and tap water, as well as the factors driving usage frequency. The robustness of results is also tested using a bivariate probit setting and a Conditional Mixed Process (CMP) model. Our findings show that a strong substitutability takes place between tap and bottled water. Also, the EOP approach allows us to establish a causal link between perceived subjective risks from tap water consumption (e.g., prior health issues or grid failures) and bottled water consumption, while high-frequency tap water use is significantly predicted by civic and environmental engagement. Furthermore, geographical factors, consistent with Zapata (2021), reflect persistent local habits and trust perceptions. The results underscore a “consumption paradox†, rooted in a crisis of trust and alignment with non-economic values, rather than in simple cost convenience. |
| JEL: | D12 D81 Q50 |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:srt:wpaper:0826 |
| By: | Shera Dalin |
| Abstract: | The St. Louis Fed shreds unfit currency and sends it off to be composted. Read about our composting program and how your old bills could be helping gardens grow. |
| Date: | 2024–09–10 |
| URL: | https://d.repec.org/n?u=RePEc:fip:l00100:102738 |
| By: | Ekta Selarka ((Corresponding author), Madras School of Economics, Gandhi Mandapam Road, Behind Government Data Centre, Kotturpuram, Chennai, 600025); Subrata Sarkar (Adjunct Professor, Indian Institute of Management, Bangalore) |
| Abstract: | This paper presents, compares and contrasts the existing Indian AIS142 regulations with the UN R117 Regulations that are set to be implemented in the Indian tyre manufacturing industry. The study evaluates the two sets of regulations with respect to safety, environmental and economic aspects. The paper points to the fact that in toto implementation of the UN R117 regulations in a short span of time without considering unique operating structure of country’s transport sector poses a greater risk of imposing significant socio-economic costs not only on the tyre industry but also could lead to a cascading impact on other stakeholders of transport industry. The study highlights that many countries in the world notably the USA and China have their own country specific regulation that does not necessarily conform to the UN R117 regulations and take into account their own national interests, namely their own geographical spread and terrain of operation, besides environmental and economic structure of the transportation sector in their countries. The paper posits that a detailed study of the costs and benefits of implementing the UN R117 in India needs to be carried out taking into account the composition of the transportation sector in the country which includes the underlying road infrastructure, socio-economic nature of the operations, the historical development of the sector and its contribution, and the imposition of the standards leading to disruption before its adoption. without any tangible benefits. |
| Keywords: | Tyre industry, Structure, Geographical Distribution, Environment, Regulation |
| JEL: | L11 L52 L62 J18 K32 |
| Date: | 2026–02 |
| URL: | https://d.repec.org/n?u=RePEc:mad:wpaper:2026-295 |
| By: | Arnone, Massimo; Drago, Carlo; Costantiello, Alberto; Anobile, Fabio; Leogrande, Angelo |
| Abstract: | This paper explores the link between economic performance and multidimensional well-being in the Italian context using a combination of the ISTAT BES approach (Benessere Equo e Sostenibile) and machine learning and clustering analysis. On the basis of a dataset of 19 Italian regions and the Autonomous Provinces of Trento and Bolzano from 2012 to 2023, it will be examined how the three BES components—Benessere (B), Equità (E), and Sostenibilità (S)—are intertwined with the Gross Domestic Product of the regions. Regarding the Benessere (B) component of well-being, the Gross Domestic Product will be analyzed using a regression approach of the K-Nearest Neighbors type to reveal the complex linkages between health outcomes, education outcomes, working conditions, social participation, and economic performance. The clustering of the B indicators and the Gross Domestic Product will be done using Hierarchical Clustering analysis to identify homogeneous territories characterized by different levels of quality of life and economic prosperity. Regarding the Equità (E) component of well-being, the regression analysis will be done using the Boosting algorithm to model the linkages between the Gross Domestic Product and the indicators of income distribution, poverty, material deprivation, and inclusion in the labor market. Boosting regression analysis will be particularly useful for this purpose since it models the complex interactions and thresholds of social and economic inequalities. Hierarchical Clustering analysis will be applied to identify the territories characterized by different levels of equity and economic growth. Regarding the Sostenibilità (S) component of well-being, the Gross Domestic Product will be modeled using Boosting regression analysis to reveal the very complex linkages between the economic performance of the territories and the indicators of environmental quality, risk of climate change, innovation outcomes, and the quality of public services. For this purpose, the analysis will use the Random Forest algorithm to identify the territories characterized by different levels of sustainability and economic performance. The analysis will show that the BES approach provides a very useful framework to identify the very different levels of linkages between the economic performance of the territories and the outcomes of the BES approach. The analysis will provide evidence that the BES approach is a very useful framework for the analysis of the linkages between the economic performance of the territories and the outcomes of the BES approach. |
| Keywords: | GDP; BES; Sustainability; Regional Inequality; Machine Learning |
| JEL: | C38 C45 O18 O56 R11 |
| Date: | 2026–01–13 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:127706 |
| By: | Bell, Peter |
| Abstract: | This article presents a framework for evaluating the economic implications of different permitting decisions for mining exploration projects based on the legal framework for British Columbia. The article builds models for different types of exploration permits, together with budgets and types of geological information that each proposed exploration strategy would generate. One example is a mechanical trenching permit that allows 1, 000 tonnes to be removed per year. If the trenching focuses on ultra-high-grade ore, then it may have a gross metal value greater than $1 million per year. The article describes how this gross metal value may be split between costs and revenues, depending on whether the material is sold as raw ore, concentrates, or refined metal. The second example is based on a mineral claim that covers 60 hectares and includes two abandoned mine tailings sites 1 kilometre apart with a mineralized fault running between them. The article describes two strategies to clean up these abandoned tailings based on an unlimited budget and a near-zero budget. |
| Keywords: | Mining, Tailings, Abandoned Mine, Environmental, Copper, Zinc, BC, Canada |
| JEL: | B5 C6 C8 C81 D2 D7 E0 E01 F3 G1 G17 H1 H5 H54 H57 K2 K23 L32 L5 L7 L72 N5 O1 O13 O2 P1 Q3 Q33 Q5 Y1 |
| Date: | 2025–12–24 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:127460 |
| By: | Teixeira, Fernanda Z.; Araya-Gamboa, Daniela; Gutiérrez Acuña, Susana; Coelho, Igor P; Araya Jiménez, Yosette; Alvarado Víquez, Erick; Pomareda, Esther; Boyat, Silvio; Salmon-Pérez, Roberto; Arevalo Huezo, Esmeralda; Picado Valenzuela, Priscila; Saavedra, Valentina; González-Mahecha, Esperanza; Gauto Espinola, Maria Irene; Ávila Alfaro, Andrea; Rodríguez Quiros, Jorge |
| Abstract: | After implementing mitigation measures on road projects, it is critical to assess whether they effectively address the targeted impactsnamely, restrict wildlife movement and mortality from wildlife-vehicle collisions. In this study, we used a control-impact design to answer two key questions: (1) Is the probability of use by terrestrial and arboreal animals similar in crossing structures compared to surrounding forest sites? (2) Is wildlife mortality lower on road sections with mitigation measures than on those without? Our study was conducted on two roads in Costa Rica National Route 160 and National Route 1 focusing on underpasses and canopy bridges. To address the first question, we applied single-season occupancy models to camera trap data for ground-dwelling and arboreal mammals and reptiles, collected both at crossing structures and in surrounding forest. To address the second question, we compared roadkill data collected through vehicle surveys between road segments with and without crossing structures. Our results show that multiple taxa, including ground-dwelling and arboreal species, used structures such as underpasses, box culverts, bridges adapted with dry ledges, and canopy bridges. The probability of use suggests that some species are relatively well adapted to these structures, although confidence intervals remain broad. However, certain species were never recorded using any crossing structures, and, on Route 1, the amount of roadkill was higher for road segments with crossing structures. In conclusion, while wildlife crossing structures show promise in facilitating animal movement across roads, they are insufficient on their own to prevent wildlife mortality, showing that the mitigation system needs improvement. Based on existing best practices, we recommend extending and upgrading the exclusion fence for the underpasses, retrofitting box culverts with dry ledges and exclusion fence and maintenance activities to improve the effectiveness of this mitigation system. |
| Keywords: | Space use;Mitigation effectiveness;Crossing structures;Follow up monitoring;Road mortality;Camera traps;connectivity |
| JEL: | Q54 Q57 L92 L73 |
| Date: | 2026–02 |
| URL: | https://d.repec.org/n?u=RePEc:idb:brikps:14517 |
| By: | Leiva, Juan Carlos; Núñez, Evelyn |
| Abstract: | La comprensión de la naturaleza del empleo y el emprendimiento ha sido un tema de interés en las ciencias económicas y sociales de larga data, desde los trabajos pioneros de economistas clásicos como Adam Smith, David Ricardo, Karl Marx, Richard Cantillon, o Joseph Schumpeter, entre muchos otros, hasta los llamados más recientes provenientes de la literatura científica (Filippi et al. , 2023; Hajat et al. , 2024; Gupta 2024). Es tal la relevancia de este tema que incluso la Agenda 2030 de las Naciones Unidas, aprobada en 2015, incluye un objetivo específico dedicado al tópico (Trabajo Decente y Crecimiento Económico) como uno de los 17 Objetivos de Desarrollo Sostenible (ODS). |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:nmp:nuland:4467 |
| By: | van Asselt, Joanna; Ei Win, Hnin; Aung, Zin Wai |
| Abstract: | This report presents key findings on the impacts of the earthquake that hit Myanmar on March 28, 2025, along with insights into the ongoing recovery, based on the ninth round of the Myanmar Household Welfare Survey (MHWS), a nationally and regionally representative phone survey. This survey was conducted between July and October 2025, with a recall period covering April to October. |
| Keywords: | households; earthquakes; natural disasters; economic impact; social protection; Myanmar; Asia; South-eastern Asia |
| Date: | 2026–01–08 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:prnote:179543 |
| By: | Hewings Geoffrey J.d; Cardenete Manuel Alejandro; Duarte Rosa; Kurz Heinz D.; Ten Raa Thijs; Rueda Cantuche Jose Manuel (European Commission - JRC); Pedauga Luis (European Commission - JRC); Pinero Mira Pablo (European Commission - JRC); Banacloche Sanchez Santacruz (European Commission - JRC); Lopez Alvarez Jorge (European Commission - JRC); Fedotenkov Igor |
| Abstract: | This technical report reviews the FIDELIO model, a dynamic, econometric, and general equilibrium input-output model developed by the Joint Research Centre (JRC) of the European Commission. The review was conducted by a panel of experts to assess the model's scientific rigour, data foundation, empirical implementation, and peer-review status, in line with the EU's Better Regulation Policy and the Inter-Institutional Agreement on Better Law Making. The FIDELIO model is designed to estimate the socio-economic and environmental impacts of EU industrial, trade and innovation policies for a fair and sustainable EU economy, mostly oriented to demand policies but also flexible to incorporate supply policy shocks, too. It is built on a solid foundation of the FIGARO database, which is maintained by Eurostat, and aims to capture spillover and rebound effects to quantify impacts on jobs, growth, investments, resource use, emissions, and trade balance. The model has evolved through several versions, with the latest iteration featuring improvements in modularity, flexibility, and dynamic structure. The review panel's general comments commend the model's comprehensive approach, which blurs the lines between traditional IO systems, econometric IO systems, and computable general equilibrium models. The panel appreciates the model's disaggregation of industries and households, which allows for granular analysis. However, the panel also points out the need for regular updates to the FIGARO database, transparent documentation of empirical implementation, and continuous exposure of the model to the scientific community and policymakers. Specific comments from individual panel members address various aspects of the model, including the need for a clear statement of the EU policy objectives of the European Union where FIDELIO will have to be applied, the suitability of the model for contributing to well-being measures, and the importance of capturing the dynamics of competition and market power. The panel also suggests improvements in the treatment of technological change, flexibility, and substitutability, as well as the integration of financial accounts and regional integration, qualitative changes in the economy, demographic challenges, and micro-macro links within the model. In response to the review, the FIDELIO team has proposed several lines of action to enhance the model's capabilities. These include updating the FIGARO database, refining parameter estimation and calibration, exploring new production functions, incorporating firm heterogeneity, and developing a FIDELIO community for collaborative development and use of the model. The team also plans to publish a flagship article on the model and maintain transparent documentation to facilitate knowledge transfer within the team. The FIDELIO model is a critical tool for EU policy analysis, with the review providing valuable insights for its improvement. The proposed actions by the FIDELIO team aim to address the panel's recommendations and ensure the model. Overall, the FIDELIO model presents a comprehensive and transparent tool for analysing EU policy impacts in the European economy, with potential areas for further refinement and extensions to address evolving complexities and improve its credibility and applicability. |
| Date: | 2026–02 |
| URL: | https://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc141962 |
| By: | Anne Lacroix (Rudologia) |
| Keywords: | Bourgogne, métiers, apprenants, formations, rudologia, interconnaissance, engage, changement de comportement, blocage, Franche, Comté, circul'ère, bâtiment, restauration, approche comportementale, nudge, transthéorique |
| Date: | 2025–09–30 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05522761 |
| By: | Daniela Cucás Gonzáles (Universidad de los Andes) |
| Abstract: | ¿Cómo afectan los desastres naturales la participación política de las mujeres? La literatura sugiere hipótesis contrapuestas: los desastres pueden profundizar vulnerabilidades pre-existentes (feminización de la pobreza, sobrecarga de cuidados, menor acceso a recursos) y reducir la participación; pero también pueden activar liderazgos comunitarios derivados de la necesidad de organización comunitaria. En este artículo se aprovecha la variación temporal exógena en la ocurrencia de desastres, combinando registros administrativos de desastres con datos electorales municipales de Colombia. Se encuentra evidencia causal que muestra que, cuando un desastre ocurre antes del cierre de inscripciones de las elecciones locales, la proporción de mujeres candidatas disminuye entre 2.0 y 2.4 pp, mientras que la proporción de ganadoras tiene el efecto contrario: observamos aumentos de +0.4 a +0.8 pp en la probabilidad de tener éxito electoral (cercanos a +1.0 pp cuando el evento es severo). Los resultados son robustos a interacciones de severidad (muertes/heridos y daños) y a la inclusión de variables de control municipales. Los resultados muestran que la ocurrencia de desastres naturales disminuye la postulación de mujeres a cargos de elección local, pero, entre las mujeres que deciden lanzarse, la probabilidad de victoria aumenta levemente. |
| Keywords: | Desastres naturales, Elecciones locales, Género, Participación Política. |
| JEL: | Q54 J16 J18 O15 |
| Date: | 2026–02 |
| URL: | https://d.repec.org/n?u=RePEc:col:000089:022345 |
| By: | Ozili, Peterson K |
| Abstract: | Social finance is an emerging concept that seeks to increase financial flows to activities and projects that improve society and the world while generating financial returns. This chapter examines the link between digital finance, green finance, and social finance. It also explores the empirical link between people's interest in information about these three types of finance. The empirical analyses show a strong positive correlation between people's interest in digital, green, and social finance information. A unidirectional causality exists between interest in social and green finance information. People's interest in social finance information significantly negatively impacts their interest in digital finance information.In contrast, interest in social finance information significantly positively affects green finance information. The findings imply that social finance is linked to digital and green finance. Thus, policymakers should not explore social finance opportunities in isolation. Instead, they should investigate the intersection between digital, green, and social finance. |
| Keywords: | Digital finance, green finance, social finance, information, investment, society, environment. |
| JEL: | G21 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:127374 |
| By: | Bell, Peter |
| Abstract: | This paper presents a statistical analysis of the global database of Volcanogenic Massive Sulphide (VMS) mineral deposits. The paper shows the joint and partial probability distributions for copper equivalent grade and total tonnage based on current metals prices for copper, zinc, lead, and gold. The article develops a new method using the joint distribution to identify the set of quantile values for grade and tonnage that have approximately 50% probability; this set of quantile values represents the median grade-tonnage curve for VMS deposits around the world. The article also shows how to analyze individual projects in comparison with the global database. For example, the size of the Shamlugskoe mine in Armenia is ranked according to the global database. For another example, a model of the exploration project called Mount Sicker is presented and compared to nearby projects that are in the global database. |
| Keywords: | Natural Resources, Mining, Copper, Zinc, Volcanogenic Massive Sulphide, Metals Grade, Deposit Tonnage, Grade-Tonnage Curve, Probability Distribution, Median Path, Statistical Analysis, Simulation, Quantile |
| JEL: | A1 A19 B5 B59 C0 C02 C1 C14 C15 C18 C4 C40 C6 C63 C69 C8 C81 D2 D8 D81 G1 G17 G3 G31 H2 H25 K2 K23 L2 L5 L7 L72 Q3 Q32 Q33 Q5 Y1 |
| Date: | 2026–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:127617 |
| By: | Cécile Bazart (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); Aurélie Bonein (CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique); Thierry Blayac (CEE-M - Centre d'Economie de l'Environnement - Montpellier - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier) |
| Abstract: | Trop d'impôt tue l'impôt », dit la célèbre phrase de l'économiste états-unien Arthur Laffer. Et si pour la France, c'était plus compliqué que cela ? N'y a-t-il pas d'autres considérations sociales, affectives ou morales ? |
| Date: | 2026–03–01 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05533011 |
| By: | Andrea Bastianin (Department of Economics, Management, and Quantitative Methods, University of Milan and Fondazione Eni Enrico Mattei); Paolo Castelnovo (Department of Economics, University of Insubria and Fondazione Eni Enrico Mattei); Federico Fabio Frattini (Fondazione Eni Enrico Mattei); Francesco Vona (Department of Environmental Science and Policy, University of Milan and Fondazione Eni Enrico Mattei) |
| Abstract: | This paper develops a novel text-based approach to identify CRM-saving innovation using patent data and studies how mineral price signals shape the direction of technological change. Using patent data from 1978–2020, we distinguish technologies that rely on CRMs from those that explicitly aim to reduce their use through efficiency improvements, substitution, or recycling. We provide evidence consistent with the induced-innovation hypothesis: higher mineral prices reallocate inventive effort toward CRM-saving technologies, while having little effect on CRM-reliant innovation. The response strengthens over time and is especially pronounced for battery minerals and rare earth elements. These findings are robust to alternative specifications and are reinforced by complementary identification strategies, including a falsification test and the use of plausibly exogenous supply-side price variation. |
| Keywords: | Energy Transition, Critical Raw materials, Patents |
| JEL: | C55 O31 O33 Q55 L72 |
| Date: | 2026–01 |
| URL: | https://d.repec.org/n?u=RePEc:fem:femwpa:2026.05 |
| By: | Naudé, Wim (RWTH Aachen University) |
| Abstract: | This paper provides an explanation of the theory of innovation and economic growth, in light of the 2025 Bank of Sweden Prize in Memory of Alfred Nobel, awarded to Joel Mokyr, Philippe Aghion, and Peter Howitt. Their scholarship is critically evaluated, and the useful, less useful, and most problematic aspects highlighted. The verdict is that it is largely a collection of anthropocentric stories of innovation and growth. It avoids spelling out why sustained growth is desirable, it reduces innovation’s ultimate goal to the pursuit of economic growth, it is based on a deep seated notion of human exceptionalism, and it promotes directed technical change - based on the assumption that all resources are fungible and can be substituted - as a way to sustain economic growth without causing environmental destruction. Their analysis of growth is useful for highlighting the importance of scientific knowledge, for showing that creative destruction can be more destructive than creative, and that economic growth will only be sustained under very special conditions. However, the failure to address energy remains a glaring gap. For economics to become more useful, it would require becoming an Earth Systems Science based on biocentric holism. |
| Keywords: | innovation, economic growth, technology, sustainability, energy |
| JEL: | O31 O33 J11 J24 |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18408 |
| By: | Raphael Corbi (University of São Paulo); Chiara Falco (University of Milan); Luca J. Uberti (University of Milano-Bicocca) |
| Abstract: | We estimate the impact of infrastructure investment on conflict using 163 hydroelectric dams in Brazil (2002–2022). Leveraging the staggered rollout of construction in a difference-in-differences framework, we find that dams trigger sharp, temporary surges in land invasions, water disputes, and homicides. These effects peak during construction and dissipate upon operation, suggesting they stem from the displacement process rather than the public good itself. Crucially, conflict is mediated by local institutions: violence occurs only where property rights are weak and displacement affects vulnerable smallholders. Our results demonstrate that without effective compensation, state-led modernization generates destabilizing redistributive shocks. |
| Keywords: | Infrastructure, Institutional Friction, Property Rights, Conflict |
| JEL: | D61 D74 H41 O13 O22 |
| Date: | 2026–01 |
| URL: | https://d.repec.org/n?u=RePEc:fem:femwpa:2026.01 |
| By: | Jhorland Ayala-García; Leider Manjarres-Beleño; Maria Urueta Polo |
| Abstract: | Este documento analiza el impacto de los desastres naturales sobre el transporte de carga en la Vía Panamericana, uno de los corredores viales más estratégicos que une el continente americano de norte a sur, desde Alaska a Argentina. En Colombia, este tramo atraviesa el país desde la frontera con Ecuador hasta cerca del límite con Panamá, desempeñando un papel importante en el comercio interno del país. Este estudio construye una base de datos mensual con información del Instituto Nacional de Vías (INVIAS) sobre cierres viales y del Registro Nacional de Despacho de Carga (RNDC) sobre volúmenes de transporte. Entre los años 2017 y 2024, se registraron un total de 128 cierres y más del 70% asociados a deslizamientos y derrumbes en tramos estratégicos como La Pintada-Medellín, donde hubo un total de 27 cierres viales dentro del período. Por medio de la estimación de un modelo gravitacional, se evalúa el impacto de los cierres viales sobre el volumen de carga transportada por los municipios y departamentos con influencia directa en la Vía. Los resultados muestran efectos significativos de baja magnitud en los cierres asociados a desastres naturales sobre el volumen de carga transportada y los costos de transporte. **** ABSTRACT: This paper analyzes the impact of natural disasters on freight transportation along the Vía Panamericana, one of the most strategic road corridors connecting the American continent from north to south, from Alaska to Argentina. In Colombia, this segment crosses the country from the border with Ecuador to close to the boundary with Panama, playing a key role in domestic trade. We construct a monthly dataset using information from the Instituto Nacional de Vías (INVIAS) on road closures and from the Registro Nacional de Despacho de Carga (RNDC) on freight volumes. Between 2017 and 2024 were registered 128 clousures in total, more than 70% associated with landslides and rockfalls in strategic sections such as La Pintada-Medellín, which registered 27 road closures during the period. Using a gravity model, we evaluate the impact of road closures on the volume of freight transported by municipalities and departments directly influenced by the highway. The results show significant effects of closures associated with natural disasters, although of low magnitude, on freight volumes and transportation costs. |
| Keywords: | Transporte de carga, Vía Panamericana, desastres naturales, cierres viales, Freight transportation, natural disasters, road closures. |
| JEL: | Q54 R11 R12 R41 |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:bdr:region:341 |
| By: | Gelli, Aulo; Bell, Winnie; Bliznashka, Lilia; Eustacchio-Colombo, Patricia; Heirman, Jonas; Jones, Eleanor; Katundu, Mangani; Khincha, Roshni; Lerva, Benedetta; Lombardini, Simone; Schultz, Linda; Scott, Samuel P.; Wineman, Ayala; School Meal Evidence Priorities Collaborators |
| Abstract: | School meal programs are a widely implemented safety net with documented impacts across social protection, education, health and nutrition and high estimated returns to investment (Alderman et al., 2024). Globally, in 2022, these programs reached over 400 million children for a total investment of $70 billion a year(Global Child Nutrition Foundation, 2024). The School Meals Coalition (SMC) created in 2021 and involving 106 member countries, has brought momentum and new opportunities for school meals. Collaborative research activities by development partners from the SMC have included evidence generation, review and synthesis, and the identification of key research gaps on school meal programs. This article provides the basis for a common research agenda to support evidence generation aimed at improving action on sustainable school meal programs. These evidence gaps were generated through a series of activities including evidence reviews, expert consultations and stakeholder workshops undertaken by SMC partners. |
| Keywords: | school feeding; investment; sustainability; cost analysis; nutrition |
| Date: | 2026–01–08 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:ifprwp:179539 |
| By: | Malte Bau, (Otto-von-Guericke-University Magdeburg); Sumaya Islam (Paderborn University); Michael Wunsch (University of Bayreuth) |
| Abstract: | This study examines the relationship between sustainability certifications and employee satisfaction by conceptualizing certifications as external signals and internal organizational resources. Drawing on signaling theory and the resource-based view (RBV), we analyze a dataset of 173 certified firms and a control group of 20, 022 firms, combining certification data from B Corp and Economy for the Common Good (EconGood) with reviews from kununu, the leading employer review platform (ERP) in the DACH region (Germany, Austria, Switzerland). Both certifications are Voluntary Sustainability Standards (VSS) and have scoring dimensions with a focus on workers. Using ANOVA, regressions, and confirmatory factor analysis (CFA), we compare the association between certifications and employee evaluation to test whether these two signal types indeed match. We find that certified companies are evaluated better by their employees compared to non-certified companies. However, we do not find an association between the scores achieved in certifications and employee evaluations. CFA reveals a significant but moderate correlation between the constructs measured by the ERP and the worker dimensions of the certifications, indicating partial conceptual overlap. Our results contribute to organizational behavior and corporate social responsibility literature as we identify a decoupling of external certification metrics from internal employee evaluations. We point to the need for companies to ensure that their commitments to sustainability match the experience perceived by employees and provide ethically relevant insights into ways in which organizations can enhance the credibility of their sustainability claims. In this way, our study advances theory, as it combines the RBV and the signaling view to explain why external signals for sustainability may not be in line with employee evaluations, thus enriching the conceptual understanding of authenticity in CSR. |
| Keywords: | Sustainability Certification, Employee Satisfacion Employer Review Platform, Resource-based view, Signaling Theory |
| Date: | 2026–02 |
| URL: | https://d.repec.org/n?u=RePEc:pdn:dispap:168 |
| By: | Belton, Ben; Abdelhadi, Ali; Dey, Durjoy; Jovanovic, Nina; Kurdi, Sikandra; Ecker, Olivier |
| Abstract: | In this project note, we review prior research and integrate insights from 14 semi-structured key informant interviews with experts on fisheries in southern Yemen to synthesize current knowledge on fisheries in Hadramawt governorate—home to the largest population of fishers in Yemen—and identify gaps that warrant further investigation. |
| Keywords: | fisheries; systematic reviews; stakeholders; value chains; fishing vessels; fishery industry equipment; governance; markets; postharvest losses; fish consumption; Yemen; Asia; Western Asia |
| Date: | 2026–01–14 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:menapn:179858 |
| By: | Lala Bonnet (CERIEC - Centre d'Études et de Recherches sur Imaginaire, Écritures et Cultures - UA - Université d'Angers) |
| Keywords: | Comptabilité circulaire, bâtiment, économie de la fonctionnalité, performance environnementale, économie circulaire |
| Date: | 2025–09–30 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05494649 |