Aligning common prosperity with sustainable development goals 3 and 7 through sustainable insurance

IF 13.6 2区经济学 Q1 ECONOMICS

Energy Economics Pub Date : 2024-11-05 DOI:10.1016/j.eneco.2024.108033

Wei Zhou , Xuelian Li , Jyh-Horng Lin , Chuen-Ping Chang , Yujie Cai

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引用次数: 0

Abstract

This paper develops a capped-call option model to evaluate sustainable insurance for achieving common prosperity. It integrates policyholder protection (Sustainable Development Goal 3 (SDG 3)) and the cap-and-trade mechanism (SDG 7) in modeling the Gini coefficient, thereby connecting SDGs 3 and 7 with common prosperity. The main findings are as follows. Life insurance policies that prioritize saving features enhance policyholder protection (SDG 3) but can detract from common prosperity. This impact is magnified when the regulatory cap within the cap-and-trade scheme for carbon-intensive manufacturers becomes stricter. High investment risks for carbon-intensive manufacturers reduce policyholder protection but support common prosperity. A stricter cap-and-trade scheme (SDG 7) also reduces policyholder protection and contradicts common prosperity. This paper avoids concluding any inherent inconsistency between the SDGs and common prosperity, as our analysis is based on the structure-conduct-performance paradigm rather than a macro perspective. Policymakers should carefully balance objectives between SDG 3 and common prosperity to ensure that policies promoting individual security do not compromise broader societal well-being and economic equality, as outlined by the SDGs.

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通过可持续保险使共同繁荣与可持续发展目标 3 和 7 相一致

本文建立了一个上限-赎回期权模型，以评估实现共同繁荣的可持续保险。它将投保人保护（可持续发展目标 3）和限额交易机制（可持续发展目标 7）纳入基尼系数模型，从而将可持续发展目标 3 和 7 与共同繁荣联系起来。主要结论如下优先考虑储蓄功能的人寿保险政策可加强对投保人的保护（可持续发展目标 3），但会减损共同繁荣。当针对碳密集型制造商的限额与交易计划中的监管上限变得更加严格时，这种影响会被放大。碳密集型制造商的高投资风险降低了对投保人的保护，但支持了共同繁荣。更严格的总量控制与交易计划（可持续发展目标 7）也会减少对政策持有者的保护，并与共同繁荣相矛盾。本文避免得出可持续发展目标与共同繁荣之间存在内在矛盾的结论，因为我们的分析是基于结构-行为-绩效范式，而非宏观视角。决策者应谨慎平衡可持续发展目标 3 和共同繁荣之间的目标，以确保促进个人安全的政策不会损害可持续发展目标所概述的更广泛的社会福祉和经济平等。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Energy Economics ECONOMICS-

CiteScore

18.60

自引率

12.50%

发文量

524

期刊介绍： Energy Economics is a field journal that focuses on energy economics and energy finance. It covers various themes including the exploitation, conversion, and use of energy, markets for energy commodities and derivatives, regulation and taxation, forecasting, environment and climate, international trade, development, and monetary policy. The journal welcomes contributions that utilize diverse methods such as experiments, surveys, econometrics, decomposition, simulation models, equilibrium models, optimization models, and analytical models. It publishes a combination of papers employing different methods to explore a wide range of topics. The journal's replication policy encourages the submission of replication studies, wherein researchers reproduce and extend the key results of original studies while explaining any differences. Energy Economics is indexed and abstracted in several databases including Environmental Abstracts, Fuel and Energy Abstracts, Social Sciences Citation Index, GEOBASE, Social & Behavioral Sciences, Journal of Economic Literature, INSPEC, and more.