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The main challenge for most African countries is to find an alternative source of funding that can meet the needs of present generation without jeopardizing the needs of the future generations. Indeed, budgetary pressures are as defaults and economic recessions, combined with difficulties in accessing financial markets, which are often triggered by a series of sovereign debt restructurings and defaults, and have led some resource-rich African countries to turn to resource-backed loans to finance infrastructure projects to achieve long-term sustainable development goals. In this paper, we use the entropy balancing method to test whether resource-backed loans have a causal impact on the ecological efficiency of human development of African economies. Across a battery of robustness checks, the estimation results indicate that resource-backed loans have a positive and statistically significant impact on ecological efficiency of human development. Nonetheless, when resource-backed loans are disaggregated to run the regressions, we find that oil-backed loans and minerals resource-backed loans increase ecological efficiency of human development while cocoa and tobacco resource-backed loans are negatively associated to ecological efficiency of human development. The main findings of the study suggest that resource-backed loans agreements in general, and cocoa and tobacco in particular, should include strict clean development provisions and the implementation of actions to mitigate the negative environmental impact of these loans for borrowing countries. [ABSTRACT FROM AUTHOR]

With the international commitments to cut CO 2 emissions by 50–70% by 2030 and 100% by 2050–2070, the search for cost-efficient tools is continuously ongoing. In theory, CO 2 taxes are one of the most efficient and simple tools. However, despite their excellent economic properties, CO 2 taxes are not always preferred by the public and can impact social inequality. Another issue is that other CO 2 reduction interventions, such as increased renewable energy like wind power, can substitute the CO 2 tax. Nevertheless, wind power is also controversial, and the local acceptance of new, mainly onshore, wind power projects can be very low. In this paper, we test how these two issues are related. Using data from a national survey with 2386 respondents, we test how the existing and potential future wind power landscape (number of turbines) relates to the CO 2 consumer tax support. The average results show no relations. However, conditional on gender, age, and income, female respondents, older respondents, and respondents from low-income households who can see many turbines from the residence are more positive towards consumer CO 2 taxes than male respondents, younger respondents, and respondents from higher-income households who see two or more turbines. We also find that low-income households with knowledge about local wind turbine projects support a consumer CO2 tax more than higher-income houses with the same knowledge. Finally, the density of turbines on the postal area level correlates differently and significantly with the support of a consumer CO 2 tax between male and female respondents. First, our results illustrate the dynamic properties of wind turbine exposure and the correlation with the support for CO 2 consumer taxes. Secondly, our results also denote the complexity of substitution between acceptance of CO 2 consumer taxes and wind power development across generations and household income levels. [ABSTRACT FROM AUTHOR]

Climate transparency through firms' disclosures is often considered a prerequisite for the redirection of investments toward low-carbon economy. In order to provide effective incentives to improve this transparency, it is therefore crucial to identify its drivers. In this paper, we investigate the determinants of two stages of climate transparency: i) the likelihood of responding to the CDP questionnaire; and ii) the extent to which companies comply with the TCFD recommendations. Using a global sample of 571 firms over the period 2020–2021, we estimate a Two-Part Fractional Response Model. First, the results confirm the relevance of considering two stages of climate transparency as the drivers that explain the first stage differ from those explaining the second. We find evidence that variables related to environmental/climate performance and commitment are good predictors of firms' transparency regarding climate risks and opportunities. Our results show that climate transparency is strongly influenced by governance mechanism variables (apart from gender diversity). We also highlight that regulatory factors only impact the second stage of climate transparency. • The paper investigates the drivers of corporates' voluntary climate disclosures. • The first stage of climate transparency is the likelihood answering the CDP survey. • The second stage is the level of compliance with TCFD recommendations. • The study sample consists of 571 international firms over the period 2020–2021. • Determinants differ according to the two stages of transparency and regions [ABSTRACT FROM AUTHOR]

Trade-induced carbon transfer generates significant impacts on global carbon emissions, leading to carbon inequality (CI). This paper introduces a novel indirect metric, the trade-induced domestic carbon share (TDCS), designed to quantify economies' carbon benefits from international trade. Based on data from 17 manufacturing sectors in 66 major economies, this study compares the impact of developed and developing economies' participation in global value chains (GVCs) on TDCS, offering insights into trade-related carbon inequality. Our analysis reveals that GVCs participation by developed economies generally decrease their TDCS, in contrast to an increase in developing economies, thereby exacerbating carbon inequality. Notably, backward participation in GVCs reduces TDCS across all economies, whereas forward participation in GVCs results in increased TDCS in developing economies but a decrease in developed ones. Additionally, our study indicates that developed economies enhance their position in both forward and backward GVCs but experience a decline in the ratio of domestic value added (DVAR). In contrast, developing economies strengthen their forward GVCs position and DVAR but weaken their backward GVCs position. These findings offer new perspectives on carbon inequality in international trade and provide valuable guidance for policymakers in devising industrial trade and carbon reduction strategies. [ABSTRACT FROM AUTHOR]

This paper explores the link between income, and wealth inequality and the ecological footprint in France, Netherlands, United States, and United Kingdom from 1962 to 2021. Based on theoretical considerations, we allow the relationship to vary over time. Our analysis provides some support for income inequality influencing ecological footprints, specifically through carbon emissions. Yet, we do not observe a significant effect on non‑carbon footprints. Notably, the link between income inequality and carbon emissions shifted from negative in the 1960s to positive from the late 1980s onwards. Over all our findings imply that economic inequality's impact on the environment is likely limited and context dependent. • We test the relationship between economic inequality and the ecological footprint. • The results indicate a weak relationship that varies over time. • Inequality only affects the carbon footprint and not the non‑carbon footprint. • Changes in consumption patterns may partially explain the time varying effects. [ABSTRACT FROM AUTHOR]

The EU has committed to make Europe the first climate-neutral continent by 2050. Reaching this objective requires massive changes in the region. The biggest challenge is that the green transition happens without sacrificing economic progress and guaranteeing justice and inclusiveness. This pledge implies that every country be capable of addressing the trade-offs between targets while remaining committed towards the common decarbonisation goal. Our paper analyses the success with which countries are carrying out the energy transition. We propose an enhanced hyperbolic distance function and a stochastic frontier analysis approach to model the joint attainment of economic development, environmental sustainability, and energy equity. We apply our model to an unbalanced panel dataset of 29 European countries for the period 2005–2018. Our estimates show that the average performance of the economies has improved over time. The results also highlight the pivotal role of a sustainable economic development with clean energies for both slashing CO 2 emissions and fostering energy equity. Moreover, we find convergence in countries' performance, being this convergence slightly higher for the EU-15 countries compared to the rest. Finally, we show that a higher share of renewable energy sources helps countries that are lagging behind to reach their optimal performance level. [ABSTRACT FROM AUTHOR]

Energy poverty is driven by four factors: poverty; high energy prices; energy-inefficiency; and specific household characteristics. Increasingly refined definitions of energy poverty (and/or vulnerability) identify types or locations of households most likely to be suffering it. But there is also a place for a different approach, considering poverty reduction directly, as poverty is a necessary component within all energy poverty definitions. This paper investigates how high the UK's top marginal tax rates would need to be, to provide funds to lift low-income UK households above the poverty threshold as defined by the low-income-high-cost (LIHC) and 10% energy poverty indicators. It finds that the increased top tax rates would still be in line with those of other European OECD countries. Using recent and new research on income elasticities of CO2 emissions, it then estimates the net direct effects on CO2 emissions of this redistribution. For both scenarios the most likely effect is a small reduction in net CO2 emissions. Further, indirect downward pressures on CO2 emissions due to reduced income among the highest earners are likely to lead to yet more favourable outcomes for net CO2 emission reduction. [ABSTRACT FROM AUTHOR]

This study examines the predictive impact of weather conditions and electricity demand on hourly spot prices of emissions allowances during the first three phases of the European Union Emissions Trading System (EU ETS) (2005–2019). We propose an original methodology for constructing European-scale electricity demand and weather indices and characterize the relationship between those indices and emissions allowances prices by means of an advanced predictive modeling technique (Extreme Gradient Boosting). Empirical findings assert that electricity demand and the weather variables under study were of importance for estimating EUA prices during the first three phases of the EU ETS, with air temperature and electricity demand being most relevant to emissions allowances prices. Conversely, total precipitation and relative humidity proved to be the least relevant variables to the outcome. The results also indicate that the relationship between emissions allowances prices and their weather-related predictors was not linear in the studied period. The paper contributes to the growing body of literature on the structural determinants of carbon prices in the EU ETS and enhances our understanding of the impact of climate and weather variability – in the provision of renewable energy production – on the most prominent market-based measure to reduce CO 2 emissions in Europe. [ABSTRACT FROM AUTHOR]

This paper considers valence-based framing, i.e. a description of equivalent outcomes in either a positive or negative light, in order to reduce transport-related CO 2 emissions. This nudge is easier to implement than more traditional tools, such as taxation, and does not rely on the stringent assumption that individuals are fully rational. The findings from a discrete choice experiment focusing on long-distance travel choice are reported herein. Results indicate that a loss framing on CO 2 emissions significantly increases the respondents' pro-environmental behaviors. Moreover, it is shown that the magnitude of the framing effect depends on individuals' motivational orientation, and that preferences are sensitive to individuals' psychological factors (i.e. preference for the future and environmental self-identity). • Some social psychological theories are tested in a split sample DCE on transportation. • The effect of attribute valence framing on preferences is investigated. • Loss framing on CO 2 emissions strengthens pro-environmental behaviors. • But gain framing for this CO 2 attribute has no significant effect. • Framing effects depend on individuals' motivational orientation. [ABSTRACT FROM AUTHOR]

Income distribution and environmental degradation represent two of the most important goals in the SDGs (Sustainable Development Goals). However, the linkage between income inequality and carbon emissions remains controversial. Relying on a large set of cross-country panel data (217 countries from 1960 to the latest), this paper contributes to the literature by using the instrumental variable approach to estimate the causal impact of income inequality on carbon emissions and exploring the underlying transmission mechanisms. Our modelling results indicate that there is a trade-off between income inequality and CO 2 emissions. And the underlying mechanisms include (1) diminishing marginal propensity to emit (DMPE) coupled with the economic law of diminishing marginal propensity to consume (DMPC); (2) high income inequality induces increases in R&D expenditure, leading to reductions in CO 2 emissions; (3) political freedom does not significantly affect the relationship between income inequality and CO 2 emissions. • This paper estimates the impact of income inequality on carbon emissions and exploring the underlying transmission mechanisms, relying on panel data across 217 countries from 1960 to the latest. • Baseline and IV estimation results suggest that there is a trade-off between income inequality and CO 2 emissions. • Political freedom does not significantly affect the relationship between income inequality and CO 2 emissions. • Rising shares of low-income groups lead to higher CO 2 emissions while rising shares of high-income groups contribute to lower CO 2 emissions. • Rising income inequality can decrease energy consumption and increase R&D expenditure, which in turn help to decrease CO 2 emissions. [ABSTRACT FROM AUTHOR]

Abstract Household carbon emissions account for a significant proportion of the national total emissions. Using a unique nation-wide survey data, this paper investigates the impact of different subjective measures of social awareness on household carbon emissions in China. Subjective variables are found to have significant impacts on household carbon emissions. Feeling secure, compliance with rules, and happiness have negative and significant effects on household carbon emissions, whereas the impact of interest in social issues is positive, which indicates the existence of a gap between awareness and behavior. The impacts of consumer lifestyles on the relationship between awareness and household emissions are also explored and are found to play a significant role in the relationship between awareness and emissions. People with a frugal lifestyle not only associate with lower emissions but also reinforce the role of social awareness. Furthermore, substantial differences are found across rural/urban areas and regional and income groups in China. The government should further promote a green lifestyle and give households more incentives to engage in green consumption behavior. Highlights • Household emissions are studied based on China Household Finance Survey. • Subjective factors are found to have significant impacts on household emissions. • Lifestyles matter in the relationship between awareness and household emissions. • Regional and income differences are considered in the analysis. [ABSTRACT FROM AUTHOR]

In the debate between proponents of green growth and degrowth, the core issue is whether decoupling carbon emissions and resource use from GDP growth is possible, and if so, possible at a rate fast enough to achieve policy goals such as global warming of maximum 1.5 °C or 2 °C. In this paper, the claims by degrowth scholars on the limits of decoupling growth and carbon emissions are critically examined by assessing the economic and climate consequences of their claims. It is claimed that their pessimistic view on decoupling is not based on robust arguments but rather mystifications of what decoupling is. Following the assumptions by leading degrowth scholars – that decoupling (decrease of the emission intensity of GDP) are unlikely to be larger than 4% and that levels of GDP need to converge in a degrowing world – indicates that the 1.5 °C target is ruled out altogether and that in order to reach the 2 °C target, the economies of the global north would have to be reduced with over 90% and for middle income countries with around 70%. This appears as very unlikely to happen. Yet, there might be alternatives, which are discussed by sketching a realist and dynamic theory of decoupling. • The pessimist assumptions on decoupling by some degrowth scholars presuppose an economic collapse of unseen magnitude • Alternatively, stringent climate goals such as 1.5 °C, are not attainable • These pessimist assumptions are, however, not based on robust arguments, and ways to demystify decoupling is discussed [ABSTRACT FROM AUTHOR]

Using panel data collected from the 2012 and 2016 China Family Panel Studies (CFPS) surveys, this paper measures household carbon footprints and assesses wealth-related effects on household carbon emissions. We find that housing wealth has an evidently larger impact on household carbon emissions, almost twice as large as that of financial wealth. The larger effect is likely attributable to the fact that Chinese households have limited investment channels, and the overwhelming proportion of household wealth is tied up in housing. We also find that housing wealth effects on household carbon emissions vary across different types of homeownership. Renters, who do not own their homes, produce higher carbon emissions than do homeowners, on average. In terms of emission elasticity, households with sole homeownership have the strongest and most positive emission response to housing wealth appreciation. The significant impacts of housing wealth offer essential and useful information for predicting China's future emission trajectory and point to the potential impact of housing policy as an effective tool for reducing carbon emissions. • Household carbon emissions increase with housing wealth. • The impact of housing wealth on emissions is almost twice that of financial wealth. • Renters have the highest emission propensity. • Households with sole homeownership have the highest emission elasticity. • Housing policy can be considered as a tool for reducing carbon emissions. [ABSTRACT FROM AUTHOR]

This paper takes both value-added trade and trade-implied CO 2 emission reduction responsibility into account, which constructs a unified conceptual framework to recalculate CO 2 emission reduction responsibility from the perspective of value-added trade. This allows policymakers to trace worldwide CO 2 emissions at multiple levels of trade, production, consumption, and shared principle alongside the world trade network. This paper employs the gross export decomposition methodology and the World Input-Output Database for calculations. Firstly, compared with traditional trade statistics, measuring embedded emissions in value-added trade can deduct the double-counted terms of CO 2 emissions due to intermediate products crossing several borders repeatedly. Secondly, the worldwide inter-country CO 2 emission footprints embedded in exports, imports, and net flows of value-added trade are traced in a geographical world map. It occurs that, China, the USA, Russia, and the EU are the top four largest emitters. Thirdly, network analysis is further utilized to capture bilateral implicit CO 2 emission relationships, e.g., the EU members' environmental impacts depend on intra-regional trade within the union. Finally, a comparison is made under three burden-sharing principles based on value-added trade. The shared responsibility offers a compromise between the producer's and the consumer's principle, which is considered to be fairer and more effective. • This paper calculates trade-implied CO 2 emission reduction responsibility from the perspective of value-added trade. • A gross export decomposition model is applied to deduct double-counted terms of implicit carbon embedded in traditional trade. • The worldwide inter-country CO 2 emission footprints are visualized. • Network analysis is conducted to identify the major carbon emitters and their complex relations. • Three burden-sharing criteria are computed through the statistics of value-added trade. [ABSTRACT FROM AUTHOR]

Household consumption has great potential to reduce CO 2 emissions from the demand side which is an important way to achieve carbon peaking and carbon neutrality goals. However, the shrinking household size will have a significant impact on household carbon emissions. In this paper, we have investigated the impacts of the decrease in Chinese household size on the direct and indirect household carbon emissions by using the input-output model and the bidirectional fixed-effect model, based on China's Urban Household Income and Expenditure Survey dataset. Results have shown that household size has a significant negative effect on household carbon emissions per capita, and such a negative effect on indirect carbon emissions is much greater than that on direct carbon emissions in China. Reducing the average household size by one has led to an increase of 0.128 t of the direct household carbon emissions per capita and 1.344 t of indirect household carbon emissions per capita, respectively. We also projected the potential change of household carbon emissions by 2030 under scenarios of increasing total population and shrinking household size and found that there may generate a 15.3%–18.8% growth in household carbon emissions compared to that in 2012, with other demographic characteristics unchanged. [ABSTRACT FROM AUTHOR]

This paper studies the relationship between income inequality and carbon emissions in the United States between 1929 and 2019. We contribute to the literature by studying if and how the relationship has varied over time. To this end we estimate a band spectrum regression model and a smooth-varying coefficients model. Our results show that higher inequality was associated with lower emissions during the early part of the sample and higher emissions towards the end of the sample. • Whether the level of inequality affects carbon dioxide emssions is unclear. • We test the association between income inequalty and carbon dioxide emissions. • We find that the relationship varies over time. • Changes in consumption patterns may partially explain the time varying effects. [ABSTRACT FROM AUTHOR]

Smoke from inefficient biomass cookstoves contributes to global climate change and kills approximately four million people per year. Credits for reduced carbon emissions can potentially subsidize fuel-efficient cookstoves that reduce these harmful effects. Understanding the accuracy of different methods of monitoring stove usage is useful to measure the effects of cookstove programs and to target carbon credits. This paper compares four methods of measuring stove usage: hours cooked (derived from a predictive logistic regression of stove usage monitors and observations of stoves in use); number of people cooked for reported in household food diaries; fuel weight used gathered in a kitchen performance test; and household air pollution using mean 24-hour concentrations of particulate matter collected with particulate air monitors. We find statistically significant positive correlations between five out of six of these pairs of measures. While the correlations are positive, the explanatory power of each measure for another is weak. The weak correlations emphasize the importance of using multiple measures to track changes in stove use for both researchers and carbon auditors. [ABSTRACT FROM AUTHOR]

Providing carbon footprint labels for all food products is a daunting and potentially infeasible project. Knowing how consumers substitute away from high carbon goods and what they choose as substitutes is essential for understanding which goods are likely to result in meaningful reductions in carbon emissions. This paper proposes a model to systematically estimate how consumers will respond to information from a carbon footprint label. Our model uses consumers' value of their individual carbon footprint with own- and cross-price elasticities of demand data on carbon emissions from life cycle analysis to simulate shifts in consumer demand for 42 food products and a non-food composite, and subsequent changes in carbon emissions from different labeling schemes. Our simulation results have several findings, including: (1) carbon labels can reduce emissions, but labeling only some items could lead to perverse impacts where consumers substitute away from labeled goods to unlabeled goods with a higher carbon footprint; (2) carbon labels can inform consumers such that their previous beliefs about carbon footprints matter; and (3) carbon labels on alcohol and meat would achieve the largest decreases in carbon emissions among the 42 food products studied. [ABSTRACT FROM AUTHOR]

Global trade not only brings about the exchange of goods and services, but also stimulates the transfer of carbon emissions. Given different economic development stages and industrial structures, global carbon inequality occurs due to the mismatch between trade-related carbon emissions and value added. Combining the multi-regional input-output model and regional environmental index (REI), this paper constructs an integrated research framework to trace the embodied carbon emissions and value-added among six regions from 2010 to 2015 to shed light on global carbon inequality from a multi-regional perspective. The results indicate that major carbon exporters are placed in inferior positions in global trade, rendering them victims of carbon inequality. The EU, Japan and the USA have been favored by global trade from both economic and environmental perspectives, and the advantaged position of the EU has improved whereas the positions of Japan and the USA have slightly decreased. For disadvantage regions, China and ASEAN10 has improved their situations, yet the inequality suffered by the RoW148 has deteriorated. Adjusting the export structure from primary to advanced products is an effective measure to mitigate global carbon inequality. Our major implications help strike thinking on the rationality of global trade and offer integral solutions towards sustainable development. • Embodied carbon emissions and value added are traced based on the MRIO model • An optimized REI index is established to identify carbon inequality from a multi-regional perspective • Carbon inequality in global trade and its sectoral contributors are explored • Export structure changing from primary to advanced products can alleviate carbon inequality [ABSTRACT FROM AUTHOR]

The importance of preserving the environment by limiting CO 2 emissions is an issue crucial to the modern era. One sector that contributes greatly to the increase in CO 2 emissions is transport. In this paper, we assess the importance that consumers attach to the environment when buying a car. Cars are categorized by lifespan and associated production and operating costs. It is well known that consumers pay particular attention to their choices regarding these aspects. Using a laboratory experiment, we aimed to find out whether consumers prefer eco-friendly products over less expensive and non-eco-friendly ones. We analysed whether the results are different when considering individual choices versus social choices. We found that the electric car is preferable to the gasoline car, especially when the charging position is well located, and the possibility exists for rapid recharging. Furthermore, consumers seem to be sensitive to the degree of eco-friendliness. They do choose the more ecological of two electric cars with different environmental impacts, and the public economic incentive positively influences this choice. Concerning the experimental methodology applied, we found a difference in behaviour between "paid" and "unpaid" groups and between social and individual choices. [ABSTRACT FROM AUTHOR]

Transformation to climate neutrality of the transport sector raises multiple challenges at a time, with potentially conflicting objectives and further external effects. This calls for a balanced policy package of which empirical assessment is needed in order to i) quantify its effectiveness and ii) reveal effects of potential overlaps and interactions associated with individual measures within the package. This paper analyses the economic, environmental and distributional effects of a policy package that supports low-carbon passenger transport in Austria, co-developed with policy experts and stakeholders. The package includes hard measures such as a mandated phase-out of conventional cars and explicit road pricing, as well as soft measures to foster the uptake of public transportation. To assess these packages we make use of a computable general equilibrium model for Austria that incorporates heterogeneous household groups, CO 2 emissions and a detailed representation of the transport sector. We show that the decoupling of economic welfare and negative external effects of passenger transport is possible with a balanced policy package. Our analysis also highlights potential urban-rural conflicts, regressive impacts and negative public budget implications of single policy measures, issues that the suggested policy package as a whole can mitigate. • We develop policy packages for sustainable passenger transport with experts. • Their effects are analysed using a CGE model of the Austrian economy. • Decoupling of welfare and negative externalities of transport is possible. • Urban-rural conflicts and regressive effects can arise with single measures. • Policy packages can help alleviate potential conflicts and regressive effects. [ABSTRACT FROM AUTHOR]

This paper explores people's willingness to reduce travel consumption in support of the transition to a low-carbon pathway beyond COVID-19, using new survey data from UK car drivers and air travellers. Evidence from our study indicates that reductions of 24% - 30% to car use and 20% - 26% to air travel could be sustained in the long term. This potentially could lead to annual reductions of 343–529 kgCO 2 per car driver (20% - 29% of pre-COVID-19 car emissions) and 215–359 kgCO 2 per air traveller (10% - 20% of pre-COVID-19 emissions from flying), suggesting that behavioural change may be a major route to emissions reductions. We find that stated voluntary reductions are greater among those who report having 'more time to do creative things' since the start of the COVID-19 lockdowns. Hence, recovery policies promoting low-carbon leisure time may be a key to consumption reductions. We also find that higher-income travellers consume and pollute substantially more than the rest, and yet there is little difference in relative voluntary reductions across the income distribution. We conclude that behaviour associated with affluence represents a major barrier to a low-carbon transition, and that policies must address over-consumption associated with affluence as a priority. [ABSTRACT FROM AUTHOR]

In the literature on the application of STIRPAT to environmental impacts of population and affluence, the parameter estimates differ from study to study. One example is the effect of population size on CO2 emissions, which is concluded to be very close to 1 in some studies (e.g., York et al., 2003) while far from 1 in others (e.g., Shi, 2003). What can explain these differences in results? In the present paper, I offer an alternative model equivalent to STIRPAT, which explicitly specifies the different role of technology (T) in STIRPAT from IPAT. By the alternative model, I conclude that different functional forms of STIRPAT can be one explanation for the difference among estimates in the studies on environmental impacts of population and affluence. The alternative model can also help to determine which factors to be added in STIRPAT. [Copyright &y& Elsevier]

Abstract: This paper investigates the effect of energy consumption and output on carbon emissions in the United States. Earlier research focused on testing the existence and/or shape of an environmental Kuznets curve without taking energy consumption into account. We investigate the Granger causality relationship between income, energy consumption, and carbon emissions, including labor and gross fixed capital formation in the model. We find that income does not Granger cause carbon emissions in the US in the long run, but energy use does. Hence, income growth by itself may not become a solution to environmental problems. [Copyright &y& Elsevier]

In this paper we investigate the role of Renewable Energy Sources (RES) on the Italian power exchange. The purpose of this analysis is to assess the impact of electricity generation from RES on the reduction of CO 2 emissions and on the value of the power supply. The study is based on hourly zonal micro-data for 2018 from the Italian power market and identifies the amount of avoided carbon emissions related both to crowded-out thermal units and to potential "load-shedding" situations. Finally, the investigation leads to the assessment of both the economic value of RES penetration and to the economic value of the CO 2 emissions avoided by renewable power generation. The results show that the annual savings of carbon emissions nationwide amount to nearly 22 Mt CO 2 whereas the value of CO 2 reduction is estimated at €348 million. The economic savings from large and small-scale wind and solar generation in 2018 account for nearly €19 billion and welfare is increased by 44%, thus confirming the net positive effect arising from RES promotion. [ABSTRACT FROM AUTHOR]

This paper assesses the effects of a bail out on deforestation in the Brazilian Amazon following a revision in the Forest Code. By providing a bail out to landowners with illegal deforestation, the New Forest Code has created incentives for law-abiding landowners to engage in deforestation activities as well, in the expectation of receiving future amnesties. To identify causal effects, we explore a rich dataset at the property level and use a difference-in-differences strategy, where former law-abiders are our treatment group. In our preferred econometric specification, the private rural properties in the treated group are associated with a rate of forest loss 0.457 p.p. higher than would prevail in the absence of the law revision. This amounts to an accumulated loss of nearly 1 million hectares of forest between 2012 and 2017. This is equivalent to a US$ 2.4 billion loss when no more than carbon emissions are considered. [ABSTRACT FROM AUTHOR]

The journey towards sustainability has become paramount to industry, government and research. To date, the main contributions have proposed valuable theoretical models to study the transitions to sustainability. However, a quantitative examination of the phenomenon is still limited. In this paper, we exploit a multilevel-growth model to empirically explore the relevance of different geographical scales in studying sustainability transitions. By analysing a novel, 9-year longitudinal dataset that covers European carbon emission intensity data on four different scales (from specific districts to whole states), we show whether and how multiple geographical scales support the study of sustainability transition pathways. Drawing on our analysis, we contribute to the debate on economic geography, sustainability transition and carbon emission intensity, as well as discuss implications for sustainability policy, strategy and research. • We apply a multilevel-growth model to a novel nine-year EU carbon intensity dataset. • EU regions show different patterns of carbon intensity between 2008 and 2016. • High-emitting areas show greater declines in carbon intensity compared to low-emitting. • NUTS 2 and 3 represent the most significant geographical scales for analysing carbon intensity. • Different geographical scales do matter in explaining carbon intensity pathways in different areas. [ABSTRACT FROM AUTHOR]