{"title":"Renewables in Mexico: Non-linear Merit-order Effect and Real Market Value of Wind and Solar in a Warm, Young and Growing Power Market","authors":"David Talavera-Zabre","doi":"10.2139/ssrn.3912702","DOIUrl":"https://doi.org/10.2139/ssrn.3912702","url":null,"abstract":"In 2013 an energy reform was approved in Mexico to allow the participation of private firms in the energy sector, where their participation was restricted, creating one of the newest wholesale electricity markets. It has been noted that renewables face a significant and unique problem for their future deployment: as penetration grows, its value to the system decreases. The effect that renewables have to reduce the electricity price came to be known as the “merit-order effect”. That decline in value implies that renewables do not have the same value as other power sources and therefore an assessment of their real market value has become relevant. Using data from January 1st of 2017 to December 31st of 2019, a linear regression model was used to test for empirical and historical evidence of the “merit-order effect” in Mexico. The data shows an economically and statistically significant “merit-order effect” of MXN$0.10/MWh per MWh of renewable generation. At average 1,859MWh of renewables, the average effect is MXN$-183.33/MWh, 13.5% of the average electricity price. Further, there’s evidence that the “merit-order effect” is non-linear and that is different across wind and solar energy. Finally, the market value of renewables was only 93% of the market value of system.","PeriodicalId":121854,"journal":{"name":"ERN: Environmental Aspects & Impact (Topic)","volume":"107 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131830713","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Aproximación a los aportes en sostenibilidad ambiental de cinco museos en el área turística de La Candelaria (Bogotá) (The Approaches of Five Museums in the Tourist Area of La Candelaria (Bogota) In Their Contributions to Environmental Sustainability)","authors":"Diana Morales Betancourt, Juliana Granados Camargo","doi":"10.18601/01207555.n29.14","DOIUrl":"https://doi.org/10.18601/01207555.n29.14","url":null,"abstract":"Spanish Abstract: Los museos de arte e historia tienen la función de generar espacios de aprendizaje e intercambio cultural a partir de la exhibición, conservación y consecución de diferentes objetos de valor cultural. El presente artículo tiene como finalidad analizar las estrategias y actividades que se implementan en relación con la dimensión ambiental de la sostenibilidad desarrolladas por cinco museos culturales que se encuentran ubicados en el área turística sostenible de La Candelaria. Se utilizó una metodología con enfoque cualitativo de tipo descriptivo por medio de observación participante, complementada con interacciones con mediadores y visitantes. Los principales resultados evidencian que se emplean buenas prácticas ambientales, pero estas no se encuentran orientadas por lineamientos formalmente establecidos y comunicados por parte de los museos. La percepción de los visitantes, a su vez, coincide con la información brindada por el personal: hay poca evidencia de señalización, información y actividades o programas que sensibilicen sobre el impacto ambiental de las actividades realizadas dentro de los museos. English Abstract: Art and history museums have the function of generating learning and cultural exchange spaces from the exhibition, conservation, and acquisition of different objects of cultural value. The purpose of this article is to analyze the strategies and activities that are implemented in relation to the environmental dimension of sustainability by five cultural museums that are located in the La Candelaria Sustainable Tourism Area. A qualitative descriptive approach methodology was implemented through participant observation and interactions with mediators and visitors. The main results showed that environmental practices are developed, however they are not articulated and communicated by museums through direct guideline implementation. The perception of visitors coincides with the information provided by staff: there is little sign of evidence, information and activities or programs that raise awareness of the environmental impact of activities carried out within museums.","PeriodicalId":121854,"journal":{"name":"ERN: Environmental Aspects & Impact (Topic)","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130892390","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Managing climate change risk: a responsibility for politicians not central banks","authors":"Peterson K. Ozili","doi":"10.2139/ssrn.3769818","DOIUrl":"https://doi.org/10.2139/ssrn.3769818","url":null,"abstract":"Originality: This chapter propagates the idea that Central Banks should take a lead role in dealing with the problems of climate change. This chapter is the first chapter to contest a Central Bank-led climate change risk mitigation agenda.","PeriodicalId":121854,"journal":{"name":"ERN: Environmental Aspects & Impact (Topic)","volume":"290 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-05-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128858566","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Nepomuk Dunz, Andrea Mazzocchetti, I. Monasterolo, Arthur Hrast Essenfelder, M. Raberto
{"title":"Macroeconomic and Financial Impacts of Compounding Pandemics and Climate Risks","authors":"Nepomuk Dunz, Andrea Mazzocchetti, I. Monasterolo, Arthur Hrast Essenfelder, M. Raberto","doi":"10.2139/ssrn.3827853","DOIUrl":"https://doi.org/10.2139/ssrn.3827853","url":null,"abstract":"Climate risks often do not happen in isolation but can compound with other sources of stress such as pandemics and pre-existing financial vulnerabilities, particularly in emerging countries. Compounding events increase the complexity of risk, leading to cascading impacts in the economy and finance. Thus, tailoring macroeconomic models to include compound risk considerations can inform effective recovery policies, avoiding to underestimate risk. We build on the EIRIN macrofinancial model (Monasterolo & Raberto, 2018, 2019) to quantitatively assess the direct and indirect impacts of compound COVID-19 and climate physical risks in the economy and finance, accounting for the fiscal and monetary policy response to shocks. EIRIN captures the richness of climate risk transmission to the economy and finance in a rigorous accounting framework. In addition, EIRIN explicitly embeds a financial sector and financial market, thereby allowing the analysis of the impact of financial feedbacks on endogenous investment and consumption decisions, and on policy effectiveness. Then, via a compound risk indicator, we quantify the non-linearity of compound risk on GDP through time. We calibrate the model on Mexico, a country that is highly exposed to hurricane hazard and COVID-19, and deeply integrated in the global value chain, representing a potential channel of cascading risks. We show that compounding climate physical and COVID-19 risk can give rise to non-linear dynamics that amplify losses, with implications on private and public debt sustainability. The initial shocks’ magnitude and their specific risk transmission channels contribute to explain the evolution of compound risks, given the country’s pre-shock characteristics. Credit market constraints can amplify the shock by limiting firms’ recovery investments, thus mining the effectiveness of increasing fiscal spending. Fiscal policies that depart from a business as usual recovery, and align to climate objectives, could help to build resilience to compound risk, avoiding increases in countries’ divergence and debt sustainability challenges.","PeriodicalId":121854,"journal":{"name":"ERN: Environmental Aspects & Impact (Topic)","volume":"9 3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122955754","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Export Liberalization and Water Pollution: Firm-Level Evidence from China","authors":"Xiaoping Chen, Y. Shao, Xiaotao Zhao","doi":"10.2139/ssrn.3692865","DOIUrl":"https://doi.org/10.2139/ssrn.3692865","url":null,"abstract":"This paper investigates the effect of export liberalization on firm-level water pollution. With data on Chinese firm-level water pollution around China's accession to the World Trade Organization, we identify a negative causal effect of export liberalization on firm-level water-pollution intensity using an exogenous shock to trade policy uncertainty. Further analyses reveal a \"competition effect\" that decreases water-pollution intensity and a \"specialization effect\" that increases water-pollution intensity. The competition effect dominates for non-exporting firms while the specialization effect exists only when firms export. The effect of export liberalization on firm-level aggregate water pollution also depends on firm's export status.","PeriodicalId":121854,"journal":{"name":"ERN: Environmental Aspects & Impact (Topic)","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-09-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128281908","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Reduce, Recycle, Reuse: An Approach to Environmental Health and Wealth Creation through Cost Reduction","authors":"R. Kuchibhotla, H. K N","doi":"10.33516/maj.v54i12.91-93p","DOIUrl":"https://doi.org/10.33516/maj.v54i12.91-93p","url":null,"abstract":"It is very important to know how the waste can be used/reused/recycled and converting that into organizations/entrepreneur's profits. Reducing the quantity, we buy the better choice to mitigate the Waste. Thereby reducing the consumption and saving the resources to manufacture new products. Usage of robust manufacturing devices with state of the art technology to mitigate waste. In this process, the efficiency and effectiveness will occur and this quality of output and quantity of output is balanced, this process automatically the waste can be minimized and profits will maximize.","PeriodicalId":121854,"journal":{"name":"ERN: Environmental Aspects & Impact (Topic)","volume":"86 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124836531","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Camelia Surugiu, Marius-Răzvan Surugiu, Raluca Mazilescu, Anca Cristea, Ileana Mărginean
{"title":"Households’ Perception of Climate Change Effects in Rural Romania","authors":"Camelia Surugiu, Marius-Răzvan Surugiu, Raluca Mazilescu, Anca Cristea, Ileana Mărginean","doi":"10.26458/1833","DOIUrl":"https://doi.org/10.26458/1833","url":null,"abstract":"This paper is focused on the analysis of the impact of climate change on the households from rural Romania. Climate change may have an impact on different sectors of the economy, such as agriculture, food industry, energy sector, tourism, etc. Also, the impact is felt by households. In rural regions of Romania, the households are already facing various risks, related to lack of income, and also related to ageing population. This study aimed to underline how rural people relate to the climatic conditions with emphasis on the trend of major change in the various aspects of the weather, sources used to find information on climate change, reliability level of the climate change information provided by various sources, the possibility to adopt measures to tackle the effects of climate change, and so on. A number of 100 copies of the questionnaire were distributed among households in a rural area of Dâmbovița County, Romania - Petrești commune - in April, 2018, with the main purpose to test it. The respondents were selected randomly. Poor households are vulnerable to climate change because low income cannot provide a satisfactory degree of access to services needed in the protection against threats. Various adaptation strategies may be used by households confronted with negative effects of climate change.","PeriodicalId":121854,"journal":{"name":"ERN: Environmental Aspects & Impact (Topic)","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122302380","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Public Receptivity in China Towards Wind Energy Generators: A Survey Experimental Approach","authors":"Shiran Victoria Shen, B. Cain, Iris S. Hui","doi":"10.2139/ssrn.3162794","DOIUrl":"https://doi.org/10.2139/ssrn.3162794","url":null,"abstract":"Abstract China leads the world's wind energy market, but little has been written about public receptivity towards wind energy generators in China. To fill this gap, we pursue a survey experimental approach to examine explanations for receptivity based on evidence from OECD countries as well as the importance of public knowledge in augmenting public acceptance of wind energy generators in China. We find that Chinese respondents are sensitive to siting near their residences, to cost considerations when imposed on them directly, to wildlife externalities, and to noise from turbines. Interestingly, Chinese respondents seem to be concerned about radiation, a finding unprecedented in the literature, and are less assured by scientific assurances that radiation is not a problem. Instead, the Chinese central government is best suited to address concerns about this topic. Targeted information provision to the public can improve public knowledge about aspects of wind energy of concern. Hence, the Chinese central government can promote wind energy deployment not just because it is an authoritarian government determined to get things done, but also because it can provide relevant information to reduce potential public resistance.","PeriodicalId":121854,"journal":{"name":"ERN: Environmental Aspects & Impact (Topic)","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-04-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122012528","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Most Politically Popular Regulation Under Asymmetric Information","authors":"Jongmin Yu","doi":"10.2139/ssrn.2347149","DOIUrl":"https://doi.org/10.2139/ssrn.2347149","url":null,"abstract":"Choice of regulation is an important issue in policy making. In the environmental field, the polluting industries are faced with regulation and costly abatement. We discuss a choice between two elements – an emission cap and a penalty rate − as regulation instruments and analyze a situation in which both a regulator and the polluting industry seek to minimize their costs where emissions are uncertain. A regulator suggests a string of efficient policy pairs that minimize social costs, and an industry can then choose one of the efficient policies available in order to minimize compliance costs; hence, a regulator can determine the most politically feasible regulation and satisfy efficiency conditions at the same time. We show asymmetric expectations on uncertain emissions that affect the choice of the efficient and politically feasible policy. This paper aims to present a policy that satisfies both a regulator and a regulated party.","PeriodicalId":121854,"journal":{"name":"ERN: Environmental Aspects & Impact (Topic)","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-10-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124994586","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Omar O. Chisari, Sebastian Galiani, Sebastián Miller
{"title":"Optimal Adaptation and Mitigation to Climate Change in Small Environmental Economies","authors":"Omar O. Chisari, Sebastian Galiani, Sebastián Miller","doi":"10.2139/SSRN.2367690","DOIUrl":"https://doi.org/10.2139/SSRN.2367690","url":null,"abstract":"This paper compares the optimal dynamic choices between policies of mitigation and adaptation for three economies: Brazil, Chile and the United States. The focus is on the optimal role of mitigation and adaptation for “environmentally small economies,” i. e. , economies that are witnessing an exogenous increase in emissions to which they are contributing very little. The simulations lead to three main conclusions. First, small economies should concentrate their environmental efforts, if any, on adaptation. This is not a recommendation that such economies indulge in free-riding. Instead, it is based on considerations of cost effectiveness, ceteris paribus. Second, small economies that are unable to spend enough on adaptation may end up spending less on mitigation owing to their impoverishment as a result of negative climate shocks. Third, higher mitigation expenditures may arise not only as a result of greater optimal adaptation expenditures, but also because of increased adaptation to the incentives for mitigation provided by richer countries.","PeriodicalId":121854,"journal":{"name":"ERN: Environmental Aspects & Impact (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125808093","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}