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on Environmental Economics |
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Issue of 2019‒09‒23
forty-one papers chosen by Francisco S. Ramos Universidade Federal de Pernambuco |
| By: | Ali, Amjad; Audi, Marc |
| Abstract: | This study provides a review of benefit and losses of greenhouse gases. For the last decades, the average global temperature is rising on the surface as well as on the oceans. There are a number of factors behind this rise, but the main cause of this rise is anthropogenic increase in greenhouse gases (GHG). The anthropogenic factors comprise of burning of fossil fuel, coal mining, industrialization etc. During the last century, the CO2 concentration increased by 391 PPM, CH4 and N2O have reached at warming levels. The rise in overall temperature is changing the living pattern of humans and it also damages the economy as well as ecosystem for other living species. The rising GHG concentration may also have some positive effects on the economy, but it has heavy costs as well. GHGs are responsible for the change in climate which include a rise in sea level, ice melting from ice sheets and ocean acidification and climate change is responsible for the other damages like low fresh water resources, damage to the coastal system, damage to human health and raise the issue of food security. |
| Keywords: | Greenhouse gases, health, food, natural resources |
| JEL: | N5 Q5 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:96081&r=all |
| By: | Ivanova, Daniela |
| Abstract: | Recent decades have witnessed a huge leap in the development of industrialization and increased consumption. This, of course, makes economic activities related to the use of more resources and the generation of growing quantities of waste, responsible to a great extent for environmental degradation. In order to reduce the negative impact, a change is needed which requires the involvement of all stakeholders - consumers, businesses and government institutions. This can be achieved when each participant in the chain assumes their responsibility for their actions. Producers - by reducing consumption of resources and by producing in an environmentally friendly manner. Consumers – by consuming responsibly, taking into account the impact of the products and services used on nature. The state - by creating conditions and stimulating the implementation of sustainable production and consumption patterns. An important point in this change is the communication between the different stakeholders. Certification systems can successfully fulfil the role of a tool giving information about the implementation of appropriate sustainable practices and thus suppress information asymmetry in the market. The said so far also defines the main aim of the monograph, namely to present the possibilities of certification schemes as a tool for providing information to stakeholders about the implementation of sustainable practices in Bulgaria. In order to identify the opportunities of certification to provide specific information, the business motivation for applying sustainable practices and consumer perceptions and attitudes towards such practices were analysed in the monograph. The evaluation in the course of the study will prove the hypothesis that certification schemes are an appropriate information tool for “green” communication with stakeholders in global trade. In the first chapter of the monograph, the theoretical foundations of certification, the chronology of development and its role in suppressing information asymmetry are clarified. The different types of certification schemes are classified and the parties interested in certification activities are identified. The second chapter, dedicated to business-to-consumer certification schemes, analyses product certification. The “green” certification schemes are summarized, with particular attention to quality labelling, the environmental and social/ethical labelling. A comparative analysis of European and Bulgarian practices for recognising "green" certification schemes of the type "business-to-consumer" is made. The results of a conducted empirical study of the awareness and attitudes of Bulgarian users towards “green” independent third-party certification schemes show that a very limited number of such schemes are recognisable. Consumers need more information about labelling, production and processing methods, standards, certification schemes and controls. The existence of information asymmetry, in turn, impedes the development of market for products with ecological and ethical characteristics in the country. The limited market penetration of organic products, combined with the low awareness of Bulgarian consumers, opens the door to the emergence of unregulated eco-labels and creates the potential for further confusion and lack of trust among consumers. Chapter three discusses business-to-business certification schemes. The certification of management systems related to quality, safety, etc. is analysed. The motives and benefits of implementing similar certification schemes related to environmental protection in the world are explored. The results of a conducted empirical study of companies in Bulgaria with an implemented and certified environmental impact management system show that the implementation of “green” certification schemes brings tangible and real benefits to businesses - both in terms of environmental protection and improvement of the social and economic performance of the company and better compliance with the existing legislation in the field. The comparison of the motives and the results of the implementation of the Environmental Impact Management Systems revealed that the expectations and benefits coincide to a large extent, which also implies a high degree of satisfaction with the implementation of these schemes. The last fourth chapter analyses the weaknesses and shortcomings of “green” certification schemes. It summarizes their benefits and advantages as a tool for communication among stakeholders. In the course of the study, it was demonstrated that the additional signals from certification schemes for implementation of sustainable practices facilitate transactions between actors in the supply chain and are a reliable source of consumer information. Certification, in order to fulfil its role as an information tool for the implementation of sustainable “green” practices, must be independent and objective. Adherence to these principles requires continuous analysis of the impact of the market structure on ensuring the reliability of certification services. The monograph is focused on “green” certification, whose impact on stakeholders has not yet been sufficiently studied in our country. The published research represents the first of its kind analyses in this field and offers an answer to the questions whether Bulgarian consumers and businesses are aware of “green” certification schemes, whether they look for them on the market and how they are affected. |
| Keywords: | certification, “green” certification schemes, tool for “green”communication |
| JEL: | Q5 Q56 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:96038&r=all |
| By: | Imane El Ouadghiri (Pole Universitaire Leonard de Vinci, Research Center); Khaled Guesmi (Paris School of Business); Jonathan Peillex (Pole Universitaire Leonard de Vinci, Research Center); Andreas Ziegler (University of Kassel) |
| Abstract: | This paper empirically examines the effect of public attention to climate change and pollution on the weekly returns on US sustainability stock indices (i.e. the DJSI US and the FTSE4Good USA Index) in comparison to their conventional counterparts (i.e. the S&P 500 Index and the FTSE USA). In addition to unexpected global climate-related natural weather disasters, we consider two complementary measures of public attention to these environmental issues: (i) US media attention to climate change and pollution and (ii) the US Google Search Volume Index for these two keywords. Robust to several sensitivity analyses, our econometric analysis for the period from 2004 to 2018 reveals that public attention to environmental issues has a significantly positive (negative) effect on the returns on US sustainability (conventional) stock indices. A possible explanation of this result is that high public attention to environmental issues may drive traditionally sustainable investors, neo-sustainable, and opportunistic self-interested investors to favor stocks of sustainable firms. The insights from our empirical study are important for private and institutional investors, managers of firms, and public policy. |
| Keywords: | Public attention, environmental issues, stock returns, sustainability stock indices, asset pricing models |
| JEL: | Q51 G14 Q53 Q54 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:mar:magkse:201922&r=all |
| By: | Patrice Loisel (MISTEA - Mathématiques, Informatique et STatistique pour l'Environnement et l'Agronomie - INRA - Institut National de la Recherche Agronomique - Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier); Guillerme Duvillié (GOM - Graphes et Optimisation Mathématique [Bruxelles] - ULB - Université Libre de Bruxelles [Bruxelles]); Denis Barbeau; Brigitte Charnomordic (MISTEA - Mathématiques, Informatique et STatistique pour l'Environnement et l'Agronomie - INRA - Institut National de la Recherche Agronomique - Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier) |
| Abstract: | Forest management relies on the evaluation of silviculture practices. The increase in natural risk due to climate change makes it necessary to consider evaluation criteria that take natural risk into account. Risk integration in existing software requires advanced programming skills. We propose a user-friendly software to simulate even-aged and monospecific forest at the stand level, in order to evaluate and optimize forest management. The software gives the possibility to run management scenarii with or without considering the impact of natural risk. The control variables are the dates and rates of thinning and the cutting age. The risk model is based on a Poisson processus. The Faustmann approach, including tree damage risk, is used to evaluate future benefits, economic or ecosystem services. It relies on the calculation of expected values, for which a dedicated mathematical development has been done. The optimized criteria used to evaluate the various scenarii are the Faustmann value and the Averaged yield value. We illustrate the approach and the software on two case studies: economic optimization of a beech stand and carbon sequestration optimization of a pine stand. Software interface makes it easy for users to write their own (growth-tree damage-economic) models without advanced programming skills. The possibility to run management scenarii with/without considering the impact of natural risk may contribute improving silviculture guidelines and adapting them to climate change. We propose future lines of research and improvement. |
| Keywords: | optimization,stand level,Decision Support System,forest management,simulation,storm risk,natural risk,29,Faustmann |
| Date: | 2019–09–11 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-02282504&r=all |
| By: | Patrice Loisel (MISTEA); Guillerme Duvilli\'e (MAORE); Denis Barbeau (MISTEA); Brigitte Charnomordic (MISTEA) |
| Abstract: | Forest management relies on the evaluation of silviculture practices. The increase in natural risk due to climate change makes it necessary to consider evaluation criteria that take natural risk into account. Risk integration in existing software requires advanced programming skills.We propose a user-friendly software to simulate even-aged and monospecific forest at the stand level, in order to evaluate and optimize forest management. The software gives the possibility to run management scenarii with or without considering the impact of natural risk. The control variables are the dates and rates of thinning and the cutting age.The risk model is based on a Poisson processus. The Faustmann approach, including tree damage risk, is used to evaluate future benefits, economic or ecosystem services. It relies on the calculation of expected values, for which a dedicated mathematical development has been done. The optimized criteria used to evaluate the various scenarii are the Faustmann value and the Averaged yield value.We illustrate the approach and the software on two case studies: economic optimization of a beech stand and carbon sequestration optimization of a pine stand.Software interface makes it easy for users to write their own (growth-tree damage-economic) models without advanced programming skills. The possibility to run management scenarii with/without considering the impact of natural risk may contribute improving silviculture guidelines and adapting them to climate change. We propose future lines of research and improvement. |
| Date: | 2019–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1909.07288&r=all |
| By: | Roger Lagunoff (Department of Economics, Georgetown University); Cristian Figueroa (Department of Economics, Boston College); Rodrigo Harrison (Facultad de Ingenieria y Ciencias Universidad Adolfo Ibanez); Mario Miranda (Department of Agricultural, Environmental, and Development Economics, The Ohio State University) |
| Abstract: | This paper studies the effects of changes in the carbon-based ecosystem on a country's output. We propose and estimate a dynamic production model in which a country's ecosystem, as measured by its reservoir of carbon in land biomass and soils, enters explicitly as a productive input. Land use is the key endogenous decision in the model. We characterize a country's optimal land use policy given its direct effects on the ecosystem, and the indirect feedback effects from land sink absorption of atmospheric GHG concentrations. We estimate the model's land sink absorption rates and output elasticities with respect to land use, fossil fuel emissions, and land carbon stock for 162 countries. Globally, a 1% decline in a country's land carbon leads to an estimated 0.3% decline in its GDP per year, even after it optimally adjusts its land use policy. We then simulate the model to 2100 under four standard Representative Concentration Pathway scenarios. In the simulations, developed countries experience higher GDP growth by 2100 under low concentration scenarios. For these countries, GDP initially grows faster in high concentration scenarios. By 2050 it declines in high concentration scenarios but continues to grow in low ones. Developing countries, by contrast, experience higher GDP growth under high concentration scenarios throughout the century. Global growth in GDP is maximal under low to moderate GHG concentration scenarios. |
| Keywords: | Carbon-based ecosystem, land stocks, GHG Emissions, optimal land use policy, output elasticities |
| JEL: | C73 D82 F53 Q54 Q58 |
| Date: | 2019–08–25 |
| URL: | http://d.repec.org/n?u=RePEc:geo:guwopa:gueconwpa~19-19-04&r=all |
| By: | Stephie Fried (ASU); Kevin Novan (University of California, Davis); William Peterman (Federal Reserve Board of Governors) |
| Abstract: | While the U.S. does not currently have a federal carbon tax, households could expect the government will introduce a carbon tax policy in the future. To understand how the macroeconomy responds to the expectation of a potential future carbon tax, we develop a quantitative life cycle model that allows us to focus on investment in long-lived, sector-specific assets such as coal power plants or wind farms. We find that expectations of future climate policy reduce the return dirty (carbon-emitting) energy capital, shifting the economy towards cleaner energy production. As a result, the anticipation of future climate policy reduces carbon emissions even though there is not actual policy in place. In particular, we find that a five percent probability of a \$35 dollar per ton carbon tax reduces emissions by one quarter of the amount they would fall if the carbon tax was actually in place. However, the output cost of reducing emissions through expectations of future policy are considerably higher than the output cost of the carbon tax policy itself. This is because the potential costs of reallocating capital between energy producing technologies after the tax is implemented, such as from coal power plants to wind farms, along with the uncertainty depresses savings lowering the aggregate capital stock. |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:red:sed019:683&r=all |
| By: | Heinz Welsch (University of Oldenburg, Department of Economics) |
| Abstract: | Economic theory has invoked moral motivation as an explanation for the voluntary provision of public goods but is vague with regard to the specific moral concerns involved. Using climate change as a case study, this paper relates morally-motivated public good provision to the six moral foundations (MFs) identified by moral psychologists: Care, Fairness and Liberty (individual-focused), and Loyalty, Authority and Sanctity (group-focused). Using data from the European Social Surveys it is found that using the MFs in addition to standard explanatory variables improves the explanation of climate-friendly behaviors and endorsement of climate-friendly regulations by 44 percent. While the Fairness and Care foundations are strong and robust predictors of the dependent variables, the Loyalty foundation contributes positively only when neglecting the nature of climate change mitigation as a global public good. More generally, in contrast to the individual-focused MFs (that apply to all individuals), the group-focused MFs are of little direct relevance for climate change mitigation, as the benefit from mitigation extends beyond the in-group (family, neighborhood, region, or nation) to which these MFs refer. Group-focused MFs are only of indirect relevance as their endorsement fosters general environmental concern. |
| Keywords: | voluntary public good provision, climate change, moral motivation, moral foundations |
| Date: | 2019–09 |
| URL: | http://d.repec.org/n?u=RePEc:old:dpaper:425&r=all |
| By: | Jianfei Li; Ioulia Ossokina; Theo Arentze |
| Abstract: | HARA is a land-use model that uses a search algorithm to find the optimal spatial allocation of new housing demands in an urban plan area. In the model, the plan area is represented as a grid of cells. A core element of the algorithm is a function that is used to evaluate the value of a cell for each possible land-use given its location. An optimum is found by stepwise improving an initial allocation based on the value function. In this paper we show that the value function can be specified as the net value of a (housing) development given the land costs, the construction costs and the market value of the development at a location. Specified in that way the solution generated represents an optimum as well as a market equilibrium (maximum net value for developers). A critical prerequisite for this is, however, that the value-function is specified such that it accurately represent buyers’ willingness-to-pay for dwelling and location characteristics in the housing market. In the paper, we show how the value function can be estimated using hedonic price analysis. The analysis is carried out based on a large housing transaction data set from The Netherlands. The trade-off between living in a green environment and having high-level urban facilities in the proximity of the residential location is of special interest for housing planning. This trade-off has become more significant even given the growing environmental concerns for creating climate-adapted as well as compact cities. We present the results of an application of the estimated model where we investigate the nature of this trade-off and the impact this has on the green-versus-compact character of urban development. We anticipate that the trade-off may change with the increasing importance of good climate performance (robustness for extreme weather conditions). Using the model as an experimentation tool, we consider what the impacts of changes in the trade-off will be for the spatial planning of housing. |
| Keywords: | Climate adapted city; Hedonic price analysis; Housing Planning; Land-use modeling; Urban Development |
| JEL: | R3 |
| Date: | 2019–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2019_131&r=all |
| By: | OECD |
| Abstract: | The investment choices we make in the coming years will either lock-in a climate-compatible, inclusive growth pathway, or a high-carbon, inefficient and unsustainable pathway for decades to come. Cities and regions, responsible for 60% of public investment in OECD countries, are significant contributes to spending and investment related to climate. With high levels of inequalities in many cities, the success of the transition will depend on the ability of local governments to engage in a “just” transition. This paper focuses on how national and sub-national governments can align subnational financial flows to transition towards low-carbon, resilient and inclusive cities. The paper is a contribution from the OECD Champion Mayors for Inclusive Growth initiative and to the OECD Programme on Subnational Finance and Investment. |
| Date: | 2019–09–17 |
| URL: | http://d.repec.org/n?u=RePEc:oec:envaac:17-en&r=all |
| By: | Haitao Cheng (Graduate School of Economics, Hitotsubashi University,); Hayato Kato (Graduate School of Economics, Osaka University); Ayako Obashi (School of International Politics, Economics and Communication, Aoyama Gakuin University) |
| Abstract: | The current globalization is characterized by the spatial unbundling of parts production and assembly, leading to the dispersion of pollution. We study environmental taxes in a two-country model of global value chains in which the location of parts and assembly can di er. When unbundling costs are so high that parts and assembly must co-locate in the pre-globalized world, pollution is spatially concentrated and harmonizing environmental taxes maximizes the global welfare. By contrast, under low unbundling costs triggering the dispersion of parts and thus of pollution in the world today, the harmonization does not maximize the global welfare. |
| Keywords: | Environmental policy; Fragmentation; International coordination |
| JEL: | F18 F23 Q56 Q58 |
| Date: | 2019–09 |
| URL: | http://d.repec.org/n?u=RePEc:osk:wpaper:1913&r=all |
| By: | Arcila, Andres; Chen, Tao; Lu, Xiaolan |
| Abstract: | Exposure to airborne pollution has substantial adverse health consequences (Cohen et al, 2004). Governments around the world have paid attention to this problem and started to take actions to mitigate it harmful effects. In this paper, we investigate how a change in the consumption tax structure affects car emissions by exploiting exogenous variation from a natural experiment that took place in China. Our results show that this tax policy, which doubled the imposition paid on cars with large engines, reduced the emissions of all the pollutants studied, with the most significant decrease of 11% noted in Particulate Matter and Carbon Monoxide. |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:clefwp:15&r=all |
| By: | Syeda Marjia Hossain; Jorn Van De Wetering; Sarah Sayce |
| Abstract: | The observed increase in market awareness of climate change and other sustainability issues has translated into increased demand for so-called ‘sustainable’ buildings in the real estate sector in the UK. This contention is supported by the results of a wide range of academic studies, which have reported a positive pricing impact for superior sustainable credentials in buildings. However, these large-scale studies are not without criticism in terms of data, methodology and approach and consequently, their usefulness to valuation professionals. Less is currently known about the extent to which impacts of sustainable building attributes on prices and values are visible to property valuers and how this is recorded by them. Valuers rely on analysis of comparable transactional evidence in ways that allow them to isolate the impact of specific features from other value drivers and their experience, judgement and heuristics play a major role in this process. There is currently less understanding of how valuers are applying existing methodologies to incorporate sustainability attributes into calculating market and investment values and how current methodologies for valuation facilitate or constrain the consideration of such attributes. This research will review the existing sustainability and valuation literature along with guidelines issued by the RICS to identify how existing processes consider sustainability attributes. It will then investigate the extent to which valuers make connections to such attributes and which adjustments, if any, they make to account for their presence. To investigate and answer the above research problems, three issues will be addressed. Firstly, how property valuers in the UK understand commonly understood sustainability attributes and their relation to values; secondly, how valuers collect data related to sustainability attributes and report this; and, thirdly, barriers they face while considering sustainability in existing valuation processes. This research will collect data from valuers in the form of primary data by using an online survey and interviews. The results of this survey will provide a further insight into the extent to which sustainable building features are currently considered in valuation processes. |
| Keywords: | sustainability; Sustainability Attributes; UK commercial real estate; Valuation Process; Valuers' role |
| JEL: | R3 |
| Date: | 2019–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2019_349&r=all |
| By: | Cees Withagen (IPAG Business School, Paris and Vrije Universiteit Amsterdam) |
| Abstract: | The objective of this paper is to critically assess the use of simple rules for the social cost of carbon (SCC) that employ a rudimentary form of the Ramsey Rule. Two interrelated caveats apply. First, if climate change poses a serious problem, it is hard to justify an exogenous constant growth rate of consumption and GDP, as is done in several contributions by prominent scholars. Second, to derive the optimal SCC one needs full knowledge of the entire future, in spite of the use of popular ways to try to get around this. Moreover, it is shown that some simple rules suffer from inconsistencies in their derivation. |
| Keywords: | Social cost of carbon, Ramsey rule |
| JEL: | Q30 Q54 |
| Date: | 2019–09 |
| URL: | http://d.repec.org/n?u=RePEc:fae:wpaper:2019.16&r=all |
| By: | Carlhoff, Henrik |
| Abstract: | This paper investigates the interplay between aging of a society and its carbon dioxide emissions. The existing literature based on US data predicts lower overall emissions due to the lower emission intensity of consumption of a growing old-age share of the population. This conjecture is reexamined by a multivariate approach. The underlying hypothesis is that the individual levels of emissions do not only depend on age but also on income and employment status, which are correlated with age. Thus, bivariate analyses, neglecting other relevant variables, might overstate the decline in emissions for older cohorts. The paper shows that this hypothesis is correct. A bivariate approach overestimates the decline of emissions caused by population aging. Policy decisions favoring a longer work life may reverse the dampening effect of aging on emissions. |
| JEL: | J11 Q54 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:roswps:163&r=all |
| By: | Tunbosun Oyedokun; Neil Dunse; Colin Jones; Jinhyun Hong |
| Abstract: | Active travel continues to gain increasing policy attention and wider acceptance, especially in cities with strong commitment to environmental sustainability. Over the last decade, the promotion of active travel has moved from the fringes of urban transport policy to a much more central role in the planning of cities and their transport networks. Active or sustainable travel, as an alternative to motorised transport modes, is considered an efficient means of reducing energy consumption and carbon emissions in cities while also helping active travellers to maintain quality health and wellbeing. Consequently, cities have continued to introduce policies as well as develop transport strategies that are aimed at ensuring adequate provision of active travel facilities (ATFs) in buildings. Commercial offices as workplace for a large proportion of the city dwellers, are expected to incorporate ATFs in their design to help in promoting active travel in cities. Active travel might be useful for achieving transport, health and green agenda, but its sustainability tends to depend on acceptance by property owners (who should provide relevant facilities) and occupiers (who should demand the facilities during letting). Property investors need to be convinced about the added-value potential of provision of ATFs in terms of lettability and rental value, and is a vital motivation for increased investment, which will help to sustain active travel agenda. However, there is a dearth of evidence whether making provision for ATFs is helping to raise the lettability and rental value of offices to justify their investment. Based on this premise, this study explores the link between active travel policies and the office property market, with a focus on facilities provision, lettability and attitudes of office owners and occupiers, using evidence from British popular bicycle cities. Preliminary findings from analysis of rent and building-specific data obtained from CoStar will be presented. |
| Keywords: | active travel facilities; cycling; lettability; Office Buildings; Rental value |
| JEL: | R3 |
| Date: | 2019–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2019_193&r=all |
| By: | - |
| Keywords: | AGENDA 2030 PARA EL DESARROLLO SOSTENIBLE, RECURSOS ENERGETICOS, ENERGIA SOSTENIBLE, POLITICA ENERGETICA, DESARROLLO SOSTENIBLE, PROYECTOS DE DESARROLLO, EVALUACION DE PROYECTOS, 2030 AGENDA FOR SUSTAINABLE DEVELOPMENT, ENERGY RESOURCES, SUSTAINABLE ENERGY, ENERGY POLICY, SUSTAINABLE DEVELOPMENT, DEVELOPMENT PROJECTS, PROJECT EVALUATION |
| Date: | 2019–05 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col095:44786&r=all |
| By: | Ibrahim D. Raheem (EXCAS, Liège, Belgium); Aviral K. Tiwari (Kochi, India); Daniel Balsalobre-lorente (Ciudad Real, Spain) |
| Abstract: | This study explores the role of the information and communication Technology (ICT) and financial development (FD) on both carbon emissions and economic growth for the G7 countries for the period 1990-2014. Using PMG, we found that ICT has a long run positive effect on emissions, while FD is a weak determinant. The interactive term between the ICT and FD produces negative coefficients. Also, both variables are found to impact negatively on economic growth. However, their interactions show they have mixed effects on economic growth (i.e., positive in the short-run and negative in the long-run). Policy implications were designed based on these results. |
| Keywords: | ICT; Financial development; Carbon emissions; Economic growth and G7 countries |
| JEL: | E23 F21 F30 O16 |
| Date: | 2019–01 |
| URL: | http://d.repec.org/n?u=RePEc:exs:wpaper:19/058&r=all |
| By: | Aina-Obe Shamsuddin Bolatito (Sudan University of Science and Technology) |
| Abstract: | Corporate Social Responsibility (CSR) is set to be a concept whereby companies decide voluntarily to contribute better to societal development and cleaner environment in relationship with the State Government. This development pushes governments’ developmental plans to act and impact public policies through adoption of CSR as a complementing factor to government programs. This study tries to examine and evaluate how the concept of CSR can be linked to Governance in managing public corporations and environmental integrity which public administrator needs to strengthen the philosophy of sustainability in increasing the support required by government and non-government actors by providing for public sustainability given the rapid adoption of CSR in business strategy. This paper addresses the question of how the theory of CSR practice can provide directions and support for Government Institutions. It’s explores how CSR and practices can be integrated into public services to behave in a responsible and sustainable manner by discussing the perceptions of Lagosian and their responsibilities. |
| Keywords: | Corporate Social Responsibility, Public Policies, Governance, Public relations, Welfare state |
| Date: | 2019–04 |
| URL: | http://d.repec.org/n?u=RePEc:smo:cpaper:46ao&r=all |
| By: | Bartkowski, Bartosz; Droste, Nils; Ließ, Mareike; Sidemo-Holm, William; Weller, Ulrich; Brady, Mark V. |
| Abstract: | From a theoretical point of view, result-based agri-environmental payments are clearly preferable to action-based payments. However, they suffer from two major practical disadvantages: costs of measuring the results and payment uncertainty for the participating farmers. In this paper, we propose an alternative design to overcome these two disadvantages by means of modelling (instead of measuring) the results. We describe the concept of model-informed result-based agri-environmental payments (MIRBAP), including a hypothetical example of payments for the protection and enhancement of soil functions. We offer a comprehensive discussion of the relative advantages and disadvantages of MIRBAP, showing that it not only unites most of the advantages of result-based and action-based schemes, but also adds two new advantages: the potential to address trade-offs among multiple policy objectives and management for long-term environmental effects. We argue that MIRBAP would be a valuable addition to the agri-environmental policy toolbox and a reflection of recent advancements in agri-environmental modelling. |
| Keywords: | agriculture,agri-environmental policy,governance,incentives |
| JEL: | Q18 Q24 Q52 Q58 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ufzdps:52019&r=all |
| By: | Erika Bartak; Georgia Warren-Myers; Christopher Heywood |
| Abstract: | Housing with high operational energy efficiency has the potential to positively contribute towards the global environmental challenge of climate change. These types of homes contribute to climate change mitigation through reduced operational energy demand and associated greenhouse gas emissions. In addition, such homes can improve household resilience in a changing climate, by providing social and financial benefits such as improved comfort, health and wellbeing, and reduced cost of living. Although these potential benefits are well known, the adoption of higher standards of energy efficiency in new Australian housing is not widespread. This is in part a result of limited mandatory requirements (compared to the benchmarks of other developed economies), and limitations to demand creation by consumers – two contributing features of an on-going ‘blame game’ between consumer, government and industry stakeholders. This study focuses on the dominant providers of new housing in Australia, the volume home builders. These organisations occupy an influential position in the system of new housing supply, informing and directing the choices of inexperienced homebuyers, and providing work opportunities to a large construction supply chain. But recent studies reveal that sustainability measures such as energy efficiency are not well promoted or prioritised by the sector. This paper presents preliminary findings from the study, exploring the current energy efficiency ‘conversation’ within the Australian volume home building sector. A content analysis of selected organisational websites is used to establish an evidence base of the current conversation between volume home builders and their potential homebuyers. These results then inform the design of semi-structured interviews with a range of volume home building organisations and staff. Interviews explore relevant organisational practices, and identify opportunities for a more productive energy efficiency conversation, as a means of mainstreaming higher energy efficiency performance in new housing. |
| Keywords: | content analysis; Energy Efficiency; Homebuyers; housing; Volume home builders |
| JEL: | R3 |
| Date: | 2019–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2019_273&r=all |
| By: | Gozgor, Giray; Tiwari, Aviral; Khraief, Naceur; Shahbaz, Muhammad |
| Abstract: | The relationship between CO2 emissions and economic growth is well-examined. However, there is a gap in the literature to examine the nexus by regime-switching models. For this purpose, this paper examines the interdependence relations between CO2 emissions and the industrial production index as a measure of business cycles at the monthly frequency in the United States. We use a new approach to modeling dependence between the underlying variables over time, combining the time-varying copula and the Markov switching models. We find that there is a significant dependence structure between business cycles and CO2 emissions, which has a regime-switching feature, for the period from January 1973 to January 2017. Specifically, during the recession episodes, we deduce that until 1982, the high dependence regime with the Gaussian copula is valid. Since the beginning of 1983, the low dependence structure regime becomes prominent. |
| Keywords: | carbon dioxide emissions; business cycles; Markov-switching models; copula models; regime-dependency |
| JEL: | Q5 |
| Date: | 2019–09–02 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:95971&r=all |
| By: | Jay Mittal; Sweta Byahut |
| Abstract: | This research uses a hedonic Price modelling framework to assess the marginal implicit price effect of conservation easements (CE) lands on single family houses in Worcester, MA. The house price premium is anticipated with the growing visual accessibility from home to conservation easements lands. The CE lands of interest here are voluntarily protected, privately owned, scenic lands and are based in the urbanized area of City of Worcester, MA. The premium, and the visual accessibility was measured using the transaction of the surrounding homes, and homes spatial relationship with the CE lands. These protected CE lands are perpetually protected with natural, historic, and scenic characteristics that are attractive to the environmental amenity seekers. The home premiums as capitalized due to the visual accessibility of protected lands was measured using a combined weighted measure of ‘view’ and ‘proximity.' This was developed using the Huff's gravity model inspired index -- Gravity Inspired Visibility Index (GIVI). First, a detailed digital elevation model (DEM) raster with all view obstructing buildings and physicals structures stitched an the topography surface was generated and then the views and distances from homes to scenic lands were used to generate the GIVI, using the Viewshed analysis in ArcGIS. The geographically weighted regression (GWR) based hedonic model was then employed to measure the combined effect of both -- distance and view of scenic lands from each homes. Both the global (adjusted R sq =0.52, AICc =29,828) and the geographically weighted regression (GWR) models (adjusted R sq = 0.59, AICc =29,729) estimated the price effect, and the GWR model outperformed the global model. The results from the GWR model indicated an average 3.4% price premium on the mean value of homes in the study area. The spatial variation in home premiums (as percentage values) was also found clearer and more spatially clustered in the GWR model. The highest premium value for select homes in the sample was found to be as high as 34.6% of the mean home price. This is a significant effect of visual accessibility to the preserved scenic lands for land conservation. This research offers a useful framework for evaluating the effect of land protection for land use planning, land conservation and for real estate valuation purposes. It also offers useful insights for conservation agencies, local governments, professional planners, and real estate professionals for prioritizing land sites with scenic views. |
| Keywords: | Conservation Easement (Environmental Amenity); Geographically weighted regression (GWR); Hedonic Price Modeling (HPM); Real Estate Valuation; Viewshed in GIS |
| JEL: | R3 |
| Date: | 2019–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2019_242&r=all |
| By: | Michal Burzynski (LISER, Luxembourg Institute of Socio-Economic Research (Luxembourg)); Christoph Deuster (IRES, UCLouvain (Belgium), and Universidade Nova de Lisboa (Portugal)); Frederic Docquier (LISER (Luxembourg), FNRS and IRES, UCLouvain (Belgium), and FERDI (France)); Jaime de Melo (Universite de Geneve (Switzerland), CEPR (United Kingdom) and FERDI (France)) |
| Abstract: | This paper investigates the long-term implications of climate change on local, interregional, and international migration of workers. For nearly all of the world's countries, our micro-founded model jointly endogenizes the effects of changing temperature and sea level on income distribution and individual decisions about fertility, education, and mobility. Climate change intensifies poverty and income inequality creating favorable conditions for urbanization and migration from low- to highlatitude countries. Encompassing slow- and fast-onset mechanisms, our projections suggest that climate change will induce the voluntary and forced displacement of 100 to 160 million workers (200 to 300 million climate migrants of all ages) over the course of the 21st century. However, under current migration laws and policies, forcibly displaced people predominantly relocate within their country and merely 20 % of climate migrants opt for long-haul migration to OECD countries. If climate change induces generalized and persistent conflicts over resources in regions at risk, we project significantly larger cross-border flows in the future. |
| Keywords: | Climate change, Migration, Inequality, Urbanization, Conflicts |
| JEL: | E24 F22 J24 J61 Q54 |
| Date: | 2019–09–14 |
| URL: | http://d.repec.org/n?u=RePEc:ctl:louvir:2019014&r=all |
| By: | International Monetary Fund |
| Abstract: | This Climate Change Policy Assessment (CCPA) takes stock of the Federated States of Micronesia (FSM)’s climate response plans, from the perspective of their macroeconomic and fiscal implications. The CCPA is a joint initiative by the IMF and World Bank to assist small states to understand and manage the expected economic impact of climate change, while safeguarding longrun fiscal and external sustainability. It explores the possible impact of climate change and natural disasters and the cost of FSM’s planned response. It suggests macroeconomically relevant reforms that could strengthen the national strategy and identifies policy gaps and resource needs. |
| Date: | 2019–09–06 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:19/292&r=all |
| By: | Nadezdha Baryshnikova (School of Economics, University of Adelaide); Shannon. F. Davidson (Deloitte); Dennis Wesselbaum (University of Otago) |
| Abstract: | In this paper, we study the weather-crime relationship using a unique high-frequency, city-level data set for the United States with 2.4 mio. observations. In contrast to the existing literature using (often) daily data, we match hourly observations of weather and crime. Our results show that using daily observations overestimates the effect of temperature and underestimates the effect of precipitation on crime and leads to different conclusions about the significance of variables. We document evidence for a non-linear relationship between weather variables and crime. Again, results differ greatly between daily and hourly observations. |
| Keywords: | Crime, Non-linearity, Weather |
| JEL: | K42 Q54 |
| Date: | 2019–07 |
| URL: | http://d.repec.org/n?u=RePEc:adl:wpaper:2019-07&r=all |
| By: | Nikolai Siniak; Dmytro Zubov |
| Abstract: | Smart sustainable development and inclusive growth policy in Europe have a significant social impact on the cities and regions. The investigation of the regions’ potential is a starting point for the social and economic development that leads to a higher quality of life. Together with developed smart infrastructures such as Industry 4.0, smart transport and cities have to be hospitable for people with disabilities. This concept is based on the combination of digital, economic, social, environmental, and other structures. Nowadays, digital technologies simplify the everyday activities of the blind and visually impaired (B&VI) people, their employment, and make the work conditions more B&VI friendly. The real estate facilities were drastically changed for the B&VI last decade. Internet of Things helps the B&VI to increase control over their lives and live independently. Examples of today available assistive devices are as follows: related to low vision (magnifiers; near/distance vision telescopes), for daily living (thermometers, barometers, and other meteorological sensors; lighting; color sensors; liquid level indicators; money handling devices), for information and communication (mobile communications; screen magnification software; Braille editing and translation software; web-browsers for non-visual output; computer vision), automatic doors and windows (smart locks; smart doorbells; smart curtains and shades), voice assistants (music and audiobooks; heating control; voice-activated phone calls; news and weather updates; calendars and reminders), home help (garden robots; robot hoovers). However, the standard smart assistive infrastructures have not been developed yet. The most prospect approach is the combination of the real estate facilities/services with the B&VI assistive soft-/hardware at the construction and facility management stage including related laws and standards.This paper discusses how the ICT technologies simplify the B&VI everyday activities and employment and make their work and living conditions in buildings more B&VI friendly and how it can influence on a real estate market and regional development. Even a small success rate implies a large socio-economic territorial benefit. |
| Keywords: | Digital Transformation; employment blind and visually impaired; Smart sustainable development; Social Innovation; wearable assistive device |
| JEL: | R3 |
| Date: | 2019–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2019_83&r=all |
| By: | Eugenio Figueroa; Ramón E. López; Gino Sturla |
| Abstract: | This study analyzes the effects of rising water supply variability provoked by climate change on the welfare of a society whose economy heavily depends on water availability. Several studies recommend that communities should impose policies that ensure a minimum level of water allocation for human consumption. We compare two contracts, one where society allocates to the firm a fixed proportion of the annual water-runoff; and the other one, where due to the uncertainties of climate change, the community instead allocates to human consumption a fixed annual amount of water-runoff. We consider a risk-averse community. We show that, unless water supply is absolutely fixed, a higher variability and scarcity of water supply does not necessarily imply that society is better off choosing a contract that assures a minimum water for human consumption. Depending on the characteristics of water supply frequency distribution, particularly the third moment, it is possible that society would not benefit by switching to the fixed allocation contract for human consumption. We illustrate the main analytical results using data and runoff climate change projections from a water basin located in the central region of Chile, showing that in this case the community is better-off sticking to the current contract. |
| Date: | 2019–09 |
| URL: | http://d.repec.org/n?u=RePEc:udc:wpaper:wp489&r=all |
| By: | Denis Claude (LEDi - Laboratoire d'Economie de Dijon [Dijon] - UB - Université de Bourgogne - UBFC - Université Bourgogne Franche-Comté [COMUE]); Mabel Tidball (CEE-M - Centre d'Economie de l'Environnement - Montpellier - FRE2010 - INRA - Institut National de la Recherche Agronomique - UM - Université de Montpellier - CNRS - Centre National de la Recherche Scientifique - Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier) |
| Abstract: | This paper explores the link between upstream input pricing and downstream strategic delegation decisions. It complements earlier contributions by studying how environmental emissions and tax payments alter the incentives business owners have to divert their managers from profit maximization in favor of sales revenue generation. Two scenarios are compared depending on whether the upstream supplier precommits to a fixed input price or adopts a flexible price strategy. Corresponding Subgame-Perfect Nash-Equilibria are characterized and elements of comparative statics analysis are presented. The analysis confirms that previous results—showing that a price precommitment makes the upstream supplier better off and downstream firms worse off—carry over to situations in which production generates pollution. |
| Keywords: | Managerial incentives,Vertical relations,Delegation,Precommitment,Externality |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-02283174&r=all |
| By: | Rowie Huijbregts; Erwin Heurkens; Fred Hobma |
| Abstract: | Pressing societal and environmental challenges influence real estate investment and development. Due to urbanization, gentrification, climate change and resource scarcity, the global call for more responsible and sustainable market behaviour has grown. As such, the notion of CSR has gained global attention in the real estate industry. Today, real estate investors voluntarily explore corporate solutions to societal and environmental issues. They setup organizational units to manage CSR programmes and report on CSR achievements. This has resulted in a vast amount of socially responsible behaviour and investment policies and reports, based on frameworks such as GRI, GRESB, ESG, LEED, BREEAM and WELL, which, in turn, appear to influence the chance for market success, reputation and value of companies.Although this suggests that CSR has become a common feature in the global real estate sector, the origin of CSR and its meaning and implementation in business practice are often unclear to practitioners – especially within Continental Europe. This stems from the fact that CSR is associated with the Anglo-Saxon model of society, and not with the Rhineland model of society which exists in north-western Europe. Yet, due to the connectedness of social and economic systems, the real estate sector in Continental Europe is under influence of AngloSaxon characteristics such as liberalization, privatization and deregulation – ingredients for CSR to flourish. This leads to the following research question: How do real estate investors use CSR to develop sustainable properties?In order to answer the research question, a cross case analysis is performed based upon semi-structured interviews and document review. The cases (i.e., real estate investment companies) are chosen from Anglo-Saxon countries, being the USA and Hong Kong, and from a Rhineland country, being the Netherlands. CSR usage is analysed on (a) the strategic level of the case companies, (b) the institutional level (CSR reporting) and (c) the project level (construction projects). Based upon the common CSR characteristics of the Anglo-Saxon and Rhineland practices – as far as represented by the selected cases – a CSR maturity model for real estate investors is developed. The model is used to rank the maturity of the CSR programmes of the three real estate investors studied.A number of common characteristics are found in the use of CSR. All real estate investors studied (a) use a formal materiality assessment to determine important core business related CSR issues; (b) aim to formulate CSR goals that are specific and measurable; (c) strive to find a CSR management structure that fits the characteristics of the company; and (d) use CSR and sustainability certification methods and reporting guidelines as a structuring device for setting up a CSR policy. Furthermore, it became apparent that only a minor part of the material issues used by the case companies relates to the actual built environment. Finally, the maturity of CSR use by the three real estate investors differs substantially, as illustrated by the higher level of maturity of, in order, the Hong Kongese, American and Dutch case. |
| Keywords: | Corporate Social Responsibility; Development; Maturity; real estate investors; sustainable properties |
| JEL: | R3 |
| Date: | 2019–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2019_270&r=all |
| By: | Thomas Kuhn (Faculty of Economics and Business Administration, Chemnitz University of Technology); Radomir Pestow (Faculty of Economics and Business Administration, Chemnitz University of Technology); Anja Zenker (Faculty of Economics and Business Administration, Chemnitz University of Technology) |
| Abstract: | The purpose of this paper is to propose an axiomatic characterization of ecological footprint indices. Using an axiomatic approach, we de?ne a set of axioms to represent the properties considered appropriate to ecological footprint measures in general. It can be shown that there exists a generalized index which is unique up to a strictly increasing function of the world land area appropriated to satisfy human needs. As an implication, the well-known compound-based footprint index used by the Global Footprint Network can be characterized as a speci?cation of the generalized index, only if proportionality in world land area use is additionally assumed and the norm is arbitrarily ?xed, in terms of global hectares. Instead, we ?nd that the applied methodology of normalization and standardization in the aggregation procedure of footprint indices is completely dispensible. In this respect, the proposition of generalized and axiomatically characterized indices for the measurement of the ecological footprint of human activity may be considered as the main contribution of the paper. |
| Keywords: | Ecological Footprint Index, Axiomatic Foundation, Measurement Theory, Overshoot Day, Sustainable Welfare |
| JEL: | Q13 Q41 Q43 C43 |
| Date: | 2019–08 |
| URL: | http://d.repec.org/n?u=RePEc:tch:wpaper:cep033&r=all |
| By: | Minh Ha-Duong (CIRED - Centre International de Recherche sur l'Environnement et le Développement - CNRS - Centre National de la Recherche Scientifique - ENPC - École des Ponts ParisTech - CIRAD - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech) |
| Abstract: | This note offers three narratives about the future of coal based electricity generation in Vietnam. "Blazing up" corresponds to the power development plan 7 revised and updated as of March 2019. "Closed window" tells what we think would happen under pure market forces. "Coal peak" tells what could happen if the State continues to steer the electricity system into the energy transition, decisively and without imposing high costs to stakeholders. |
| Date: | 2019–08–07 |
| URL: | http://d.repec.org/n?u=RePEc:hal:ciredw:halshs-02263898&r=all |
| By: | Ijeoma Jane Emeghe; Kathy Pain; Flora Samuel |
| Abstract: | Mental health and well-being receives a growing source of concern and it is an ever-evolving field of research to international institutions, governments, scholars, communities and individuals alike. The research focused on housing quality, autonomy and mental well-being investigates the associativity that may exist between these, which are the influences of the physical conditions of the home and the psychosocial environment on individual mental well-being, with an aim to deriving quantifiable estimates for statistically significant factors, that is, monetising well-being within the UK housing environment, currently understudied. Following on from literature, the research is underpinned using a trio-theoretical framework designed to measure health inequality; however, adapted to suit the current research. A mixed methodological technique is employed that caters to the two divides of the study. On the one hand, the study examines existing micro (household unit of analysis) panel data set relating to housing quality and mental well-being analysis, and the financial estimation of relevant factors. On the other, and due to obvious drawbacks on existing data set with regards to environmental and design quality and occupier autonomy, the second part of the research conducts one-to-one semi-structured in-depth interviews on a select case study to plug the identified gaps on individual well-being research. The contributions of the study are wide-ranging spanning informing policy circles and housing providers’ decision making, to informing an improvement to the UK social value toolkit through the well-being valuation approach. Where this approach doubles as mediation to inequality by revealing salient well-being needs for effective resource allocation. |
| Keywords: | autonomy; Health and mental well-being; Housing quality; Well-being valuation |
| JEL: | R3 |
| Date: | 2019–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2019_43&r=all |
| By: | Regina Gkitnou; Ana Pedro ( Chadburn) |
| Abstract: | The increase of studies and information on health and wellbeing in the last couple of years has triggered an increasing awareness of the correlation between the office space environment, the health and wellbeing of its occupants and the impact on businesses performance and productivity. Health and wellbeing, as part of the people component of sustainability, is of great interest not only from epistemological view point, but also for practitioners as they start recognising the impact it can have on their people and as a result on their businesses. Along with the awareness, it has become difficult for the industry to filter, process and act accordingly. The question if investors main driver to invest in sustainable office spaces is regulations or the market remains unanswered. When it comes to investors’ decisions in terms of sustainable office buildings there seems to be a conflict of interests. While the intention to create and provide sustainable office buildings exists, it often fails due to financial reasons – other aspects like environmental and social constrains are then often side-lined. However, there are indications that there is a change in the paradigm of thinking, as investors begin to acknowledge the importance of sustainability and its benefits, but the question remains, whether investors will indeed invest in sustainable buildings for other reasons other than being bound by regulations. The author of the research will not delve into the impact buildings can have on the health of people as the medical perspective will not be the focus of the research. The aim of the research is to gain understanding of the relationship between sustainable office buildings, occupiers’ wellbeing and the impact on investors' decisions to adopt, develop or purchase sustainable premises. In order to understand how investors add value to their properties and if wellbeing matters, the researchers participated in numerous discussions that took place at RICS Commercial Property Conferences. To gauge the sentiment of the industry, the researchers are in the process of carrying out in-depth interviews with advisors who have a direct exposure to the investors' decisions. The researchers are visiting and analysing office spaces of corporations in the EU that have implemented the recommendations of current research and obtained WELL Building Standard certification case studies aiming to showcase that they provide the best office space for their employees. Additionally, monitoring the market and gauging the spread of the WELL Building Standard globally, nationally, locally will result in identifying how many buildings are actually applying a health and wellbeing-oriented strategy and whether there was an upward tendency among investors to invest in such buildings in EMEA in the past three years or it remains rather steady with a few buildings being rather the exception. The paper will focus on filling the gap in the literature which is the triangulation of the topics: health and wellbeing of occupants; the impact of sustainable office buildings on their wellbeing and the main drivers for investors to invest in sustainability. |
| Keywords: | investorsâ decisions; occupantsâ wellbeing; Regulations; sustainability |
| JEL: | R3 |
| Date: | 2019–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2019_156&r=all |
| By: | Jorn Van De Wetering |
| Abstract: | In 2008, the European Energy Performance of Buildings Directive (EPBD) facilitated the introduction of two mandatory energy assessment methods in the UK. Energy Performance Certificates (EPCs) reveal the modelled energy performance of buildings when they are constructed, sold or let based on their intrinsic energy attributes, whereas Display Energy Certificates (DECs) reveal operational energy performance in a subset of buildings that is operated by the public sector, based on annual energy consumption data.EPCs were conceived as a marketing mechanism for property market participants and they have been used in studies that have sought to investigate the links between energy performance and financial performance of buildings. Yet they are based on modelled energy performance and the ratings that they express are hypothetical, whereas DECs are based on actual energy consumption figures. Furthermore, EPCs are valid for 10 years, whereas DECs need to be renewed annually.This study will investigate energy performance patterns as recorded in DEC certificates in existing office buildings over time. The study uses detailed DEC data for commercial office buildings from the Department for Communities and Local Government. This dataset is matched to data on building attributes from CoStar UK to investigate the relationship between energy performance and building features such as age and building quality. This study models the magnitude of observed changes in operational energy performance in existing buildings, to investigate how operational energy performance assessment can be used to track energy performance improvements over time, and reveal how different control variables may impact on recorded changes. These findings will provide further insights into the effects and impacts of the introduction of energy certification for buildings. The further aim of this study is to develop a building typology based on commonly shared building and energy performance attributes. |
| Keywords: | Commercial Office Space; Display Energy Certificate; Energy Performance Certificate; Environmental Assessment; Operational energy performance |
| JEL: | R3 |
| Date: | 2019–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2019_350&r=all |
| By: | Terans Gunawardhana; Kanchana Perera |
| Abstract: | Enormous literature sources suggest that with the development of digital technologies many industries tend to change their business models, strategies and applications. Accordingly, some scholars argue that the construction industries are facing significant challenges as more processes are digitised and automated. Therefore, this study focused on reviewing how developing technologies affect the sustainability of future construction industry. The research aimed to examine the adaptability of digital technologies in the future of the Sri Lankan construction industry. In this study, the objectives were formulated as, to identify the current level of application of modern technologies towards sustainable practices in Sri Lankan construction industry, to determine the possible developments in advanced technologies towards sustainable practices in Sri Lankan construction industry, and explore the potential issues of modern technologies Sustainable practices in Sri Lankan construction industry and solutions for them. The qualitative approach was adapted to attain the aim and objectives of the research. A content analysis was done to analyse the responses received from semi-structured interviews and validated through the stakeholder analysis. One of significant findings of the research indicate that lack of awareness about the advantages of adopting technologies in construction industry activities has become a severe problem, in this case, actions should be taken to increase the knowledge of the entire industry. There were some identified limitations throughout the whole research process. Mainly, time was recognised as a crucial boundary for the research, especially for data collection process. However, these study results suggest to carry out some research in the future to assess effect through economic, social and environmental aspects of technologies used in the construction industry and to develop a framework to understand the future role of each expert in Sri Lankan construction industry due to due to changes in technologies. |
| Keywords: | Big data; Construction Industry; Digital Technologies; sustainability; Technologies Adaptability |
| JEL: | R3 |
| Date: | 2019–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2019_85&r=all |
| By: | María Sicilia Salvadores |
| Abstract: | En este artículo se analiza el papel que el Plan Nacional Integrado de Energía y Clima (PNIEC) 2021-2030 reconoce al gas natural y a los gases renovables como vector energético para cumplir con los compromisos medioambientales asumidos por España. El Escenario Objetivo muestra su relevancia en todos los sectores finales reemplazando a otros combustibles más contaminantes y como respaldo para la generación renovable intermitente. Asimismo se propone un Escenario Alternativo para el sector eléctrico, de cumplimiento con los objetivos climáticos, en el que una mayor utilización de las infraestructuras gasistas existentes resulta en un ahorro muy significativo de costes para el conjunto del sistema. |
| Date: | 2019–09 |
| URL: | http://d.repec.org/n?u=RePEc:fda:fdaeee:eee2019-30&r=all |
| By: | Astrid Isabela Bogdan (“Dimitrie Cantemir†Christian University, Bucharest) |
| Abstract: | Lato sensu, we will bring together Architecture, Education Sciences and Legal Sciences in developing a good practice guide on the remodeling of outdoor museums, which will attempt to sustainable value the vernacular heritage. Moreover, considering that architecture is a defining component of cultural heritage, we believe that a work which aims to redefine a key concept for the world heritage is a necessary initiative for the museum environment, also the valorization of cultural heritage. Stricto sensu, we intend to start from some studies and examples of good practices, relying on contemporary cases. In addition, we will start building a discourse on interdisciplinarity, because for an outdoor museum it is not needed only a curator, but a whole group of specialists who could bring new elements of attractive interactivity to a more diverse audience. |
| Keywords: | 21st century, architecture, cultural patrimony, interdisciplinarity, law |
| Date: | 2019–04 |
| URL: | http://d.repec.org/n?u=RePEc:smo:cpaper:19ba&r=all |
| By: | Gaye Del Lo |
| Abstract: | This paper examines the link between oil and renewable energy markets. To this end, on the one hand, we identify high and low volatility states of oil markets, using the regime-switching EGARCH (1,1) model, and analyze its effects on the renewable energy market. On the other hand, we develop a methodology to identify positive and negative oil shocks and investigate their implications for renewable energy markets. We show that: (1) state shifts are clearly present in the oil and renewable energy data; (2) the volatility links between oil and renewable energy markets are regime-dependent. When the oil market is in a high-volatility regime, it exacerbates the volatility of renewable energy markets, but in a low-volatility regime, it has no effect or a stabilizing effect on the volatility of renewable energy market; (3) the results also reveal that the renewable energy market reacts positively to extreme upward movements of oil prices and negatively to extreme downward movements. These results have several implications in terms of policies, portfolio optimization and risk management. |
| Keywords: | Cliometrics, renewable energy; oil price; EGARCH(1,1); markov-switching; VaR. |
| JEL: | Q42 E44 C58 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:ulp:sbbeta:2019-31&r=all |
| By: | Minh Ha-Duong (CIRED - Centre International de Recherche sur l'Environnement et le Développement - CNRS - Centre National de la Recherche Scientifique - ENPC - École des Ponts ParisTech - CIRAD - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech, VIET - Vietnam Initiative for Energy Transition) |
| Abstract: | In 2016, Vietnam planned to build a fleet of new coal-fired power plants, expanding capacity to 54.5 GW in 2030, from 13.1 GW in 2015. Three years later, the risk of stranded assets not only made this plan sub-optimal, it also made it infeasible because investors are looking elsewhere. |
| Date: | 2019–08–05 |
| URL: | http://d.repec.org/n?u=RePEc:hal:ciredw:halshs-02263622&r=all |
| By: | David Allen Axelrod (Montclair State University) |
| Abstract: | This paper proposes an economic model of psychological energy used toward the production of experiences. A review of ideas at the nexus of economics and psychology, and how they lead to the thesis of this paper, is presented. A simple mathematical economic model is developed, with two main uses of psychological energy toward well-being. These are the generation of impressions (inward experiences that are sense-like) and expression (outward experiences that are action-like). Choosing is understood as investing energy to change the probabilities of an outcome. The model optimizes energy use between intensity of impressions and capacity for expression. For a fixed energy level, as experiential intensity increases resources are substituted out of decision making and implementation, leading to choices of lower utility. If the material losses are substantial during an experience, the share of psychological energy used to modify impressions will increase, and away from influencing seemingly random external outcomes. Over multiple periods, this generates a feedback loop where the person feels increasingly disempowered, and thus less concerned about making better choices. This feedback loop can be stopped by an external entity providing sufficient resources for the person to experience greater expression. |
| Keywords: | Impression, Expression, Internal Environment, Poverty Trap |
| Date: | 2019–04 |
| URL: | http://d.repec.org/n?u=RePEc:smo:cpaper:1aad&r=all |