Environmental Economics and Policy Studies最新文献_第2页

Overallocation in the California-Québec carbon market: a non-constraining cap until 2030 加州-魁北克碳市场的过度分配：2030 年前的非约束性上限

IF 1.7

Environmental Economics and Policy Studies Pub Date : 2024-04-21 DOI: 10.1007/s10018-024-00396-2

Noémie Vert Martin, Pierre-Olivier Pineau

{"title":"Overallocation in the California-Québec carbon market: a non-constraining cap until 2030","authors":"Noémie Vert Martin, Pierre-Olivier Pineau","doi":"10.1007/s10018-024-00396-2","DOIUrl":"https://doi.org/10.1007/s10018-024-00396-2","url":null,"abstract":"The Western Climate Initiative cap-and-trade program is presented as a substantial contributor to reach the climate targets set by the governments in California and Québec, by constraining emissions through declining caps. Some doubts have however been cast on the effectiveness of this program. Using a supply–demand model and published data for the third compliance period (2018–2020), we estimate five scenarios for future emissions and changes in the program’s features, and we analyse the resulting price path for compliance instruments. Our key contribution rests in the identification of the key drivers of the existing overallocation. Caps were set too high, and less emissions are actually covered compared to what is officially announced (76% in California, against a claimed 80%). Offset credits also contribute to the availability of compliance instruments. These drivers result in an excess of available instruments until 2030, preventing the cap-and-trade program to play its constraining role: caps will be exceeded and emission targets missed, while fully complying with the cap-and-trade requirements. However, putting an end to overallocation would not be sufficient to reach climate targets. Governments should either reduce the level of existing allowance caps by 19–24%, or about 385 Mt, or increase the amount of covered emissions without changing the level of current caps.","PeriodicalId":46150,"journal":{"name":"Environmental Economics and Policy Studies","volume":"38 1","pages":""},"PeriodicalIF":1.7,"publicationDate":"2024-04-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140624066","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}

引用次数: 0

Energy price reform to mitigate transportation carbon emissions in oil-rich economies 改革能源价格，减少石油资源丰富经济体的交通碳排放

IF 1.7

Environmental Economics and Policy Studies Pub Date : 2024-03-28 DOI: 10.1007/s10018-024-00400-9

Sa’d A. Shannak, Jeyhun I. Mikayilov, Rubal Dua

引用次数: 0

Effectiveness of community participation in Mangrove restoration: the evidence from northern Sri Lanka 社区参与红树林恢复的有效性：斯里兰卡北部的证据

IF 1.7

Environmental Economics and Policy Studies Pub Date : 2024-03-18 DOI: 10.1007/s10018-024-00397-1

Sarujan Sathiyamoorthy, Takeshi Sakurai

引用次数: 0

Is the split incentive problem worse for college student renters: an analysis of landlord self-reported and hypothetical choices? 大学生租房者的分化激励问题是否更严重：对房东自我报告和假设选择的分析？

IF 1.7

Environmental Economics and Policy Studies Pub Date : 2024-03-13 DOI: 10.1007/s10018-024-00399-z

Monica Haynes, Christopher R. McIntosh, Tommy Olafson

{"title":"Is the split incentive problem worse for college student renters: an analysis of landlord self-reported and hypothetical choices?","authors":"Monica Haynes, Christopher R. McIntosh, Tommy Olafson","doi":"10.1007/s10018-024-00399-z","DOIUrl":"https://doi.org/10.1007/s10018-024-00399-z","url":null,"abstract":"In the residential housing sector, energy conservation issues may arise in the relationship between landlords and renters (a.k.a. tenants) due to principal-agent and information problems. An example is the split incentive, where one party makes the energy efficiency decisions while the other pays the energy bill. Herein, we investigate whether the landlord and renter split incentive problem may be more likely and more challenging for college student renters than those who are not college students. This may occur from landlords perceiving that college renters lack sufficient demand for energy efficient improvements.There is a lack of studies regarding the possibility that college renters may face greater exposure to the split incentive problem. We surveyed landlords to better understand their prior energy efficiency investment decisions and used a contingent valuation question to further investigate their choices for a hypothetical return on investment scenario. The landlords had various mixes of college students and non-students in their properties. Landlords renting one single-family property exclusively to college students had, on average, completed fewer major upgrades to their rental properties and were less likely to invest in a hypothetical insulation upgrade.","PeriodicalId":46150,"journal":{"name":"Environmental Economics and Policy Studies","volume":"27 1","pages":""},"PeriodicalIF":1.7,"publicationDate":"2024-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140149014","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}

引用次数: 0

Climate change and energy security: the dilemma or opportunity of the century? 气候变化与能源安全：世纪的困境还是机遇？

IF 1.7

Environmental Economics and Policy Studies Pub Date : 2024-03-10 DOI: 10.1007/s10018-023-00391-z

Serhan Cevik

引用次数: 0

The impact of climate change on inflation in Tunisia: evidence from the asymmetric NARDL model 气候变化对突尼斯通货膨胀的影响：非对称 NARDL 模型提供的证据

IF 1.7

Environmental Economics and Policy Studies Pub Date : 2024-02-29 DOI: 10.1007/s10018-024-00398-0

Oussama Zouabi, Michel Dimou

{"title":"The impact of climate change on inflation in Tunisia: evidence from the asymmetric NARDL model","authors":"Oussama Zouabi, Michel Dimou","doi":"10.1007/s10018-024-00398-0","DOIUrl":"https://doi.org/10.1007/s10018-024-00398-0","url":null,"abstract":"This paper aims to examine the relationship between climate shocks and agri-food and overall inflation in Tunisia for the period 1985–2000. Climate shocks represent extreme weather phenomena such as droughts, heat waves, and floods To address this question, the paper uses an extensive Nonlinear Autoregressive Distributed Lag (NARDL) model that incorporates a Pesaran cointegration test, enabling the exploration of potential asymmetric effects stemming from positive and negative climate shocks on both general and agri-food inflation in the short and the long run. The key findings of the paper indicate that positive temperature shocks exert a significant inflationary impact on all agricultural products, the food industry, and, more broadly, the entire Tunisian economy, both in the short and long term. Conversely, a sudden shortage in rainfall does not significantly affect either agricultural or food prices, nor does it influence the general price index. This result is rather unexpected since long-term rainfall trends significantly affect agricultural production, emphasizing the importance of appropriate agricultural policies such as irrigation.","PeriodicalId":46150,"journal":{"name":"Environmental Economics and Policy Studies","volume":"31 1","pages":""},"PeriodicalIF":1.7,"publicationDate":"2024-02-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140017694","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}

引用次数: 0

Quantile network connectedness between oil, clean energy markets, and green equity with portfolio implications 石油、清洁能源市场和绿色股票之间的量子网络关联性及其对投资组合的影响

IF 1.7

Environmental Economics and Policy Studies Pub Date : 2024-02-27 DOI: 10.1007/s10018-024-00393-5

Mohamed Yousfi, Houssam Bouzgarrou

{"title":"Quantile network connectedness between oil, clean energy markets, and green equity with portfolio implications","authors":"Mohamed Yousfi, Houssam Bouzgarrou","doi":"10.1007/s10018-024-00393-5","DOIUrl":"https://doi.org/10.1007/s10018-024-00393-5","url":null,"abstract":"This study aims to explore the dynamic return and volatility spillover among oil, sectoral clean energy markets, and green equity across different tails spanning from January 2014 to May 2023. The investigation utilizes a spillover approach based on the QVAR model. The empirical results highlight the time-varying nature of return and volatility spillover indices, influenced by significant events. Notably, the interconnection intensified during pivotal periods, including the oil shale revolution, the COVID-19 pandemic, and the Russia–Ukraine conflict, observed across the median, lower, and upper tails. The quantile spillover analysis reveals asymmetric behavior at both the left and right tails, emphasizing the increased impact of large shocks compared to smaller ones. Additionally, the directional spillover exhibits variability across quantiles. In conclusion, we present several diversification benefits for environmentally conscious investors to reduce portfolio risk without compromising sustainability goals. This is achieved by strategically investing in eco-friendly assets to maintain portfolios with low carbon. Indeed, policymakers should consider the impact of global events, such as economic crises and geopolitical conflicts, on financial market dynamics, recognizing the need for measures that enhance stability and facilitate a smooth transition to green finance.","PeriodicalId":46150,"journal":{"name":"Environmental Economics and Policy Studies","volume":"66 1","pages":""},"PeriodicalIF":1.7,"publicationDate":"2024-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140007281","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}

引用次数: 0

Do market-based environmental policies encourage innovation in energy storage? 基于市场的环境政策是否鼓励储能创新？

IF 1.7

Environmental Economics and Policy Studies Pub Date : 2024-02-22 DOI: 10.1007/s10018-024-00394-4

Siyu Feng

引用次数: 0

Assessing the impact of Russian–Ukrainian geopolitical risks on global green finance: a quantile dependency analysis 评估俄罗斯-乌克兰地缘政治风险对全球绿色金融的影响：量化依存分析

IF 1.7

Environmental Economics and Policy Studies Pub Date : 2024-02-21 DOI: 10.1007/s10018-024-00395-3

Faroque Ahmed, Md. Monirul Islam, Shujaat Abbas

{"title":"Assessing the impact of Russian–Ukrainian geopolitical risks on global green finance: a quantile dependency analysis","authors":"Faroque Ahmed, Md. Monirul Islam, Shujaat Abbas","doi":"10.1007/s10018-024-00395-3","DOIUrl":"https://doi.org/10.1007/s10018-024-00395-3","url":null,"abstract":"In the pursuit of sustainable development, the presence of a robust financial sector plays a crucial role in the advancement of the green movement. However, the green bond market faces vulnerability due to the existence of geopolitical threats. This study employs empirical methods to investigate the quantile dependence of geopolitical risks originating from Russia and Ukraine on green finance. Specifically, the cross-quantilogram and partial cross-quantilogram approaches are utilized, analyzing daily data spanning from February 24, 2022, to May 26, 2023. The findings obtained from the cross-quantilogram approach reveal a pronounced negative quantile dependence between the geopolitical risks of both countries and green finance during bearish market conditions (q.10–q.40) in the short-term memory. Conversely, during the initial memory, a strong positive dependence is observed at the bullish (q.70–q.95) market conditions. However, no significant dependence is detected at either bearish or bullish market states concerning long-term memory. Interestingly, when employing the partial cross-quantilogram approach, a slightly negative association is observed at both bearish and bullish market conditions for long-term memory. These empirical findings provide valuable insights into the decision-making process for green investments, taking into account the dynamic nature of market conditions influenced by geopolitical risks stemming from the Russia–Ukraine conflict. Therefore, it is prudent for the governments to establish collaborations with private sectors and international agencies to fund green projects, thereby expediting green investment and mitigating geopolitical risks, with a focus on long-term investment, given the current absence of significant long-term detrimental effects of geopolitical risks on green bonds at the global level.","PeriodicalId":46150,"journal":{"name":"Environmental Economics and Policy Studies","volume":"10 1","pages":""},"PeriodicalIF":1.7,"publicationDate":"2024-02-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139925772","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}

引用次数: 0

The effect of climate pacts on the stock market performance of listed firms in Turkey 气候协议对土耳其上市公司股市表现的影响

IF 1.7

Environmental Economics and Policy Studies Pub Date : 2024-02-21 DOI: 10.1007/s10018-023-00390-0

Dharen Kumar Pandey, S. Ananda, Henchiri Basma, Vineeta Kumari

{"title":"The effect of climate pacts on the stock market performance of listed firms in Turkey","authors":"Dharen Kumar Pandey, S. Ananda, Henchiri Basma, Vineeta Kumari","doi":"10.1007/s10018-023-00390-0","DOIUrl":"https://doi.org/10.1007/s10018-023-00390-0","url":null,"abstract":"This study employs the event study method on the daily closing prices of 385 listed firms in Turkey from December 2020 to December 2022 to examine the market reactions to two significant climate-related events: the Glasgow Climate Pact (GCP) and the Sharm el-Sheikh Implementation Plan (SSIP). The GCP event triggered predominantly adverse market reactions, with significant and negative abnormal returns observed before and after the event and an adverse event day return. Conversely, the SSIP event generated a mixed market response, characterized by significant negative abnormal returns before the event and significant positive abnormal returns after the event. Additionally, the energy sector firms have been vulnerable to the SSIP, given their declining returns, while other sectors experienced significant positive returns. The cross-sectional regression analysis highlights the impact of firm-level characteristics on abnormal returns. For the GCP event, firm leverage, firm size, book-to-market ratio, and past returns exhibit significant associations with abnormal returns during different periods. Similarly, for the SSIP event, firm size, book-to-market ratio, past returns, and past volatility demonstrate significant relationships with abnormal returns. The findings suggest that firms should align their strategies with climate goals and capitalize on emerging clean energy and sustainability opportunities to maintain share prices. Investors must carefully evaluate climate-related events’ impact and consider firm-level characteristics when making investment decisions. This study contributes to understanding market reactions to climate events and provides insights for firms and investors in navigating the evolving landscape of climate change.","PeriodicalId":46150,"journal":{"name":"Environmental Economics and Policy Studies","volume":"37 1","pages":""},"PeriodicalIF":1.7,"publicationDate":"2024-02-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139925753","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}

引用次数: 0