| 31. |
- Elliott, Jasmine, et al.
(författare)
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If money talks, what is the banking industry saying about climate change?
- 2022
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Ingår i: Climate Policy. - : Informa UK Limited. - 1469-3062 .- 1752-7457. ; 22:6, s. 743-753
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Tidskriftsartikel (refereegranskat)abstract
- Major banks are facing increased public pressure to reduce financing for fossil fuel projects. In this decade of action for the UN Sustainable Development Goals (with a focus on SDG 13 - climate action), all sectors, including the financial sector, are urged to recognize the ways in which they impact these goals and how they can best contribute to their realization. But how are the top 10 most active banks in financing the fossil fuel industry responding to this pressure? Using qualitative textual analysis of these banks' annual reports and a proposed categorization of how banks are talking about climate change, we highlight how these banks see their role in reducing climate impacts through their financing and whether their response has evolved since the Paris Agreement. We find that while these banks are stating an increasing number of climate change actions since the introduction of the Paris Agreement, there are few clear commitments in relation to their financing of fossil fuels. This absence of commitments in the annual reports may reflect an absence of critical reflection on their responsibility for financing climate change. Key policy insights Climate-related financial disclosures should target banks' climate impact regarding their client financing; most importantly this should be done in a clear, contextualized way so that regulators and the public can hold the banks accountable based on their disclosures. Effective policies need to explicitly consider how banks should measure and reduce climate impacts in a way that is comparable, aligned with the Paris Agreement, and in relation to banks' credit financing operations to clients (not only from the direct operations of a bank, as has been the focus of banks' commitments against climate change to date). Legislation mandating human rights and environmental due diligence with explicit considerations in relation to climate change is an example of a policy that would require banks to consider a broader scope of their impact assessment and disclosure reporting which could potentially establish clearer claims for remedies by impacted communities.
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| 32. |
- Felgendreher, Simon, et al.
(författare)
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Environmental investment decisions: experimental evidence of team versus individual decision making
- 2018
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- We study experimentally how investment decisions are affected by equally stringent but different policy regime treatments and how differences depend on whether decisions are made individually or in groups. In our experiment, subjects decide on an investment level either individually or jointly in groups of three. In addition, decisions are made subject to either a tax or performance standard treatment. We find that investments are significantly higher and closer to the level that maximizes revenues of the hypothetical firm in the performance standard treatment. This holds for both individual and group decisions, but we find no evidence of an interaction effect. Even though groups seem to have a knowledge advantage, they are not able to benefit from it, since intragroup communication is not able to transmit the microeconomic reasoning to group members without such knowledge. Also, groups are not able to attenuate the attention bias of focusing on selective information depending on the specific policy treatment.
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| 33. |
- Felgendreher, Simon, et al.
(författare)
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Higher education for sustainability: can education affect moral perceptions
- 2018
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Ingår i: Environmental Education Research. - : Informa UK Limited. - 1350-4622 .- 1469-5871. ; 24:4, s. 479-491
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Tidskriftsartikel (refereegranskat)abstract
- A considerable literature looks at universities' approaches to integrating sustainable development into teaching and learning, but less is known about how Education for Sustainable Development (ESD) affects student attitudes, values and norms. To our knowledge, only a few studies have quantified such effects of changes in curricula. This study contributes to this literature by quantifying and measuring the effect of a compulsory sustainability activity on students' ethical and moral perceptions. Our results show that ESD can indeed affect moral perceptions of what constitutes socially appropriate behaviour, but not in a homogenous way. Instead, the effect varies with background characteristics of the students.
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| 34. |
- Fischer, Carolyn, et al.
(författare)
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The Legal and Economic Case for an Auction Reserve Price in the EU Emissions Trading System
- 2020
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Ingår i: The Columbia journal of European law. - 1076-6715. ; 26:2, s. 1-28
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Tidskriftsartikel (refereegranskat)abstract
- When it first launched in 2005, the European Union emissions trading system (EU ETS) expected to see carbon dioxide prices of around €30/ton and be a cornerstone of the EU's climate policy. The reality was a cascade of falling prices, a ballooning privately held emissions bank, and a decade of muted incentives for investment in the technology and innovation necessary to achieve long-term climate goals. The European Commission responded with various administrative measures, including postponing the introduction of allowances (“backloading”) and using a quantity-based criterion for regulating future allowance sales (“the market stability reserve”). While prices have now begun to recover, it is far from clear whether these measures are sufficient to adequately support the price of carbon dioxide into the future. In the meantime, governments outside the EU ETS have begun turning away from carbon pricing and adopting overlapping regulatory measures that reinforce low prices. Unfortunately, however, this further undermines confidence in market-based mechanisms for reducing greenhouse gas emissions. Other carbon markets have responded to such by introducing an auction reserve price that sets a minimum price in allowance auctions, thus avoiding the unexpectedly low price outcomes experienced in the EU ETS. Opponents of instituting such an auction reserve price in the EU ETS express two main concerns. First, they fear that a minimum auction price would interfere with the quantity-based nature of the market. Second, they argue that a reserve price would be tantamount to a tax, thus triggering a burdensome decision rule requiring unanimity among EU Member States that would be difficult to overcome. This Article reviews the economic and legal arguments for and against an auction reserve price. Our economic analysis concludes that an auction reserve price is necessary to accommodate overlapping policies and for the allowance market to operate efficiently. Our legal analysis concludes that, inasmuch as an auction reserve price is not a “provision primarily of a fiscal nature,” nor would it “significantly affect a Member State's choice between different energy sources,” no legal barriers stand in the way of the introduction of an auction reserve price into the EU ETS. We then describe two ways by which a reserve price could be introduced into this system.
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| 35. |
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| 36. |
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| 37. |
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| 38. |
- Hammar, Henrik, 1970, et al.
(författare)
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The Determinants of Sulfur Emissions from Oil Consumption in Swedish Manufacturing Industry, 1976-1995
- 2000
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- Using a structural decomposition analysis, we analyze the causes of reduction in emitted sulfur originating from the manufacturing industry in Sweden during 1976-1995. We also analyze how policy instruments work with respect to sulfur emissions. We conclude that the sulfur tax has been important for reducing sulfur emissions. It affects energy prices, and hence substitution from heavy fuel oil (HFO) to light fuel oil (LFO), as well as substitution from oil to other energy sources. The sulfur tax also addresses sulfur emissions through a reduction of sulfur content of oil directly.
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| 39. |
- Harring, Niklas, 1979, et al.
(författare)
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COVID-19: Large-scale collective action, government intervention, and the importance of trust
- 2021
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Ingår i: World Development. - : Elsevier BV. - 0305-750X .- 1873-5991. ; 138:February 2021
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Tidskriftsartikel (refereegranskat)abstract
- In this article we apply a large-scale collective action framework on the spread of the COVID-19 virus. We compare the pandemic with other large-scale collective action problems – such as climate change, antimicrobial resistance and biodiversity loss – which are identified by the number of actors involved (the more actors, the larger the scale); the problem’s complexity; and the spatial and temporal distance between the actors causing and being affected by the problem. The greater the extent of these characteristics, the larger the scale of the collective action problem and the smaller the probability of spontaneous collective action. We argue that by unpacking the social dilemma logic underlying the spread of the COVID-19 virus, we can better understand the great variation in policy responses worldwide, e.g., why some countries are adopting harsher policies and enforcing them, while others tend to rely more on recommendations. We claim that one key factor is trust and, more precisely, reciprocal trust, both horizontally among people and also vertically between people and their governments – and vice versa. Citizens must trust that the recommendations they receive from the public authorities are correct, that these are in their (or the collective’s) best interest, and that most others will follow the recommendations. Simultaneously, government authorities must trust that their citizens will transform the recommendations into collective action. When this situation is present, we argue that governments enjoy a large degree of collective action capital, which potentially open up for a wider palette of policy options.
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| 40. |
- Hasson, Reviva, et al.
(författare)
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Climate Change in a Public Goods Game: Investment Decision in Mitigation versus Adaptation
- 2009
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- We use behavioral and experimental economics to study a particular aspect of the economics of climate change: the potential tradeoff between countries’ investments in mitigation versus adaptation. While mitigation of greenhouse gases can be viewed as a public good, adaptation to climate change is a private good, benefiting only the country or the individual that invests in adaptation. We use a one-shot public-goods game that deviates from the standard public-goods game by introducing a stochastic term to account for probabilistic destruction in a climate-change setting. Probability density function is mapped to within-group levels of mitigation. We compare low-vulnerability and high-vulnerability treatments by varying the magnitude of disaster across treatments. Our results show that there is no significant difference in the level of mitigation across these treatments. Further, our results emphasize the important role of trust in enhancing cooperation.
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