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The distributional effect of carbon pricing jeopardizes its public acceptability in developed and developing countries. Previous research has shown that cash transfers to poor households or targeted subsidies can correct the incidence of carbon pricing on different income groups. However, there has been no in-depth analysis of the territorial heterogeneity of the impacts or how redistributive policies could consider this element in their design. This study addresses this gap in the literature through a microsimulation approach for nine Latin American countries. We find that a carbon tax not only generates regressive effects on household expenditure but that there are also some regions within countries whose populations could be severely affected, exacerbating pre-existing inequalities. The previous is not solved with cash transfers based exclusively on income level criteria. Consequently, a mechanism is proposed to adjust targeted cash transfers according to regional differences, showing that it would contribute to territorial equity. [ABSTRACT FROM AUTHOR]

Fuel taxes are seen as an important instrument in the fight against climate change, including in the European Green Deal. From a social-ecological policy perspective, it is important to understand current high levels of public opposition to fuel taxes. If social disadvantage is an important driver of opposition, this would strengthen arguments that fuel taxes need to be designed in a fairer way. However, it remains unclear how important social disadvantage – here defined as a combination of low income, fuel poverty risk, low education, low occupational status and job insecurity – is for explaining opposition compared to factors such as political trust and climate change attitudes, and how the role of social disadvantage varies with welfare regimes in Europe. In this article, we examine how strongly social disadvantage is associated with opposition to fuel taxes once political trust and climate change attitudes are controlled for, and we compare results across welfare regimes. The article uses data from the 2016 European Social Survey and employs logistic regression and decomposition analysis. We find that social disadvantage contributes nearly as much to fuel tax opposition as climate change attitudes and political trust together, with 10.9 and 16.6 percentage points respectively. However, the role of social disadvantage varies by welfare regime. It matters most in Southern and Eastern Europe, where opposition is particularly high, as are poverty and inequality. We discuss implications for social-ecological policy strategies that aim to increase public acceptability of fuel taxes in Europe. [ABSTRACT FROM AUTHOR]

Today, carbon and cost-efficient construction are well matched. However, in the future, as steel production is increasingly done from recycled scrap in electric arc furnaces (EAFs) and concrete mix design is improved, the current balance of CO ⁣2 impacts and costs can be altered. When this happens, structural designers need to update their design strategies, and incentives must be put in place to retain the alignment between environmental impact and cost. Here, I assess the potential of carbon taxation to improve the structural design. I also assess the discrepancy in embodied carbon outcomes if construction costs remain constant, but the embodied carbon of materials is varied. Finally, I look at the effect of an early-stage design tool, PANDA, on embodied carbon outcomes of real projects. I find that carbon taxes need to be extremely high to have an effect, and that this effect is limited to certain types of frames. Embodied carbon in construction can become disconnected from costs if the embodied carbon of materials varies heterogeneously. Finally, novel design tools can help designers substantially improve the embodied carbon of their design. This happens despite the absence of a significant monetary incentive to that effect. This article is part of the discussion meeting issue 'Sustainable metals: science and systems'. [ABSTRACT FROM AUTHOR]

All you need to know about what the NDP and Saskatchewan Party are (and aren't) saying about the carbon tax, water, carbon capture, nuclear energy and [...]

As provincial politicians hit the campaign trail, local leaders call promises to axe B.C.’s carbon tax a threat to urgent climate [...]

Premier David Eby suddenly says he’s prepared to ditch the consumer carbon tax, as the B.C. election fast approaches. BC Conservative leader John Rustad is claiming victory. How did we [...]

Limiting global warming to 1.5-2 °C requires a 50-90% reduction in CO2 emissions in 2050, depending on different scenarios, and carbon capture, utilization, and storage is a promising technology that can help reach this objective. Calcium oxide (CaO) carbon capture is an appealing choice because of its affordability, large potential capacity, and ability to withstand the high temperatures of flue gases. However, the structural instability and capacity fading challenge its large-scale industrial applications. Here, we design a reversible reaction shuttle in CaO-based sorbents to improve the structure stability by changing the initial alumina phases. Diverse alumina phases (x-Al2O3) are first synthesized and utilized as the aluminum source for creating CaO@x-Al2O3 composites. As expected, the CaO@δ-Al2O3 composite demonstrates a carbon capture capacity of 0.43 g-CO2/g-sorbent after 50 cycles, with an impressive capacity retention of 82.7%. Combined characterizations and calculations reveal that this stability improvement is attributed to a transition shuttle between Ca3Al2O6 and Ca5Al6O14, which can effectively restrain the complete decompositions of those structure-stabilized intermediate phases. An economic assessment further identifies the significance of heat transfer efficiency improvement upon cycles, and control of capital/operation cost, energy price and carbon tax for a future cost-effective commercialization of current strategy. Distinct alumina phases lead to various intermediate phases in the CaO@x-Al2O3 composites. Here authors show that δ-Al2O3 induces a transition shuttle between Ca3Al2O6 and Ca5Al6O14 in a classical CaO-Al2O3 system, thus improving its carbon capture stabilities. [ABSTRACT FROM AUTHOR]

Introduction: By constructing a computable general equilibrium model of "carbon trading" and "carbon trade-carbon tax", this study aims to deeply explore the combined impact of these two policies on China's economic development and carbon emission reduction, so as to provide scientific decision support for policy makers. Methods: In order to accurately simulate the economic effects of carbon trading policies, the carbon trading module was introduced in detail in the "carbon trading" model, and the carbon trading cost was incorporated into the elastic substitution function production module. At the same time, in order to comprehensively evaluate the effect of the combination policy of "carbon trade-carbon tax", the cost of carbon tax is included in the constant elastic substitution function of production in the model. Results and Discussion: Through in-depth data analysis and model calculation, it is found that although a single carbon trading policy can effectively promote the reduction of carbon emissions, its impact on the economy is relatively moderate, especially in promoting the technological upgrading of the power industry. The "carbon trade-carbon tax" combination policy has further strengthened the emission reduction action, in a number of industrial sectors, such as coal, power, heavy industry and light industry, by significantly increasing the cost of carbon emissions to promote emission reduction. The above results show that carbon tax policies play an important role in balancing carbon emission reduction and economic development. Compared with the single carbon trading policy, the introduction of carbon tax makes the emission reduction efforts of various departments more comprehensive, and also contributes to the stable development of the economy. [ABSTRACT FROM AUTHOR]

The advancement of emission reduction benefits in ridesplitting relies on a comprehensive carbon reduction incentive policy initiated by the government and implemented through the collaborative efforts of multiple stakeholders. The aim of this study is to understand the implementation mechanism and explore the carbon reduction potential of the Carbon-Inclusive Policy. A framework has been developed to explore an evolutionary stabilization strategy through a three-party evolutionary game model, which considers the crucial stakeholders of the government, shared mobility companies, and travelers. A comprehensive sensitivity analysis has been conducted across various scenarios on key factors to ensure the robustness and accuracy of findings. The study's primary findings indicate that the government's level of commitment to the Carbon-Inclusive Policy significantly influences strategic decisions and the pace of evolution among the three stakeholders in the evolutionary game. Companies critically assess the economic viability of ridesplitting, particularly in light of development costs and subsidy incentives. Government backing and increased ridesplitting adoption by travelers serve to mitigate risks, incentivizing companies to actively promote ridesplitting. Furthermore, the study emphasizes the necessity of balancing individual, company, and societal interests for sustainable transportation development, advocating for reasonable carbon tax credits and the promotion of novel development concepts such as Environmental, Social, and Governance (ESG) principles. These findings serve as a significant resource for policymakers navigating the complexities of integrating carbon considerations into transportation policy frameworks, contributing to a deeper theoretical understanding of Carbon-Inclusive Policy implementation in the sector. [ABSTRACT FROM AUTHOR]

In this article we analyze how syngas produced in a renewable way can replace fossil‐fuel based syngas production and thereby play an essential role in the decarbonization of industry. We show that in essentially all industrial applications renewable H2 and/or CO can replace syngas from fossil fuel feedstocks, and quantify the flows of these chemical building blocks required for the transformation of industry towards a net‐zero emitting sector. We also undertake a techno‐economic analysis, in which we demonstrate that under specific assumptions for the learning rates of some of the key process components, renewable syngas can become cost‐competitive with that produced from fossil fuels. Cost competitiveness, however, only materializes for four of the five routes when natural gas prices are at least around 3 €/GJ and carbon taxes increase from 90 €/tCO2 today to 300 €/tCO2 in 2050. [ABSTRACT FROM AUTHOR]

Indigenous communities in the North American Arctic are characterized by mixed economies that feature hunting, fishing, gathering, and trapping activities--and associated sharing practices--alongside the formal wage economy. The region is also undergoing rapid social, economic, and climate changes, including, in Canada, carbon taxation, which is impacting the cost of fuel used in local food harvesting. Because of the importance of local foods to nutrition, health, and well-being in Arctic Indigenous communities, there is an urgent need to better understand the sensitivity of Arctic food systems to social, economic, and climate changes and to develop plans for mitigating potential adverse effects. Here, we develop a Bayesian model to calculate the substitution value and carbon emissions of market replacements for local food harvests in the Inuvialuit Settlement Region, Canada. Our estimates suggest that under plausible scenarios, replacing locally harvested foods with imported market substitutes would cost over 3.1 million Canadian dollars per year and emit over 1,000 tons of CO2-equivalent emissions per year, regardless of the shipping scenario. In contrast, we estimate that gasoline inputs to harvesting cost approximately $295,000 and result in 315 to 497 tons of emissions. These results indicate that climate change policies that fail to account for local food production may undermine emissions targets and adversely impact food security and health in Arctic Indigenous communities, who already experience a high cost of living and high rates of food insecurity. [ABSTRACT FROM AUTHOR]

Recycling carbon revenues as Equal Per Capita Carbon Dividends (ECDs) is thought to neutralise the two main objections to carbon pricing, namely that it is regressive and that it hinders the poor from meeting basic needs. This article focuses on the waste objection to carbon pricing plus ECDs. If the rationale for ECDs is to protect the consumption of the worst off, why pay carbon dividends to the rich as well? I examine three different normative arguments in favour of ECDs. First, the argument of common ownership of the atmosphere, which can be based on both libertarianism and isolationist egalitarianism. Second, the argument that the rich are net contributors to ECDs through their carbon taxes. Third, a consequentialist argument focusing on the pragmatic advantages of ECDs, especially in terms of social acceptability and low information costs. I conclude that none of these arguments can provide a normative justification for ECDs. [ABSTRACT FROM AUTHOR]

Increasing strict carbon regulations enforced by regulators are encouraging companies to seek better ways to manage inventories with a desire to reduce carbon emissions from their operations. This work illustrates an inventory model to obtain the retailer's optimal replenishment policy for non-instantaneous deteriorating items with fixed lifetime and partial backordering under cap-and-price, cap-and-trade, and carbon tax regulations with the goal of maximizing a retailer's profit while simultaneously reducing total carbon emissions. To investigate the work from a more general perspective, the market demand structure of perishable products is considered deterministic in nature and is reliant on both the selling price and stock level, while the shortage of items is a decreasing function of waiting time up to the next replenishment. This study examines, for the first time, the best replenishment decisions for non-instantaneous deteriorating items with an expiration date after characterizing their properties theoretically under carbon regulations. Integrating all possible cases of the optimal solutions from theoretical outcomes, different numerical examples are demonstrated, and finally, several management insights are provided by investigating the changing pattern of the optimal strategies for variation in the system parameters. The derived outcomes highlight that the cap-and-price policy performs well both economically and environmentally for the inventory decision-maker when the penalty is less than or equal to the reward for each unit of carbon emission. Furthermore, in cap-and-price regulation, the total profit is increased by 3.14 % , 8.10 % , and 1.63 % from cap-and-trade, carbon tax, and without carbon regulation, respectively, and the total amount of emission is decreased by 5.38% from cap-and-trade and carbon tax regulation. [ABSTRACT FROM AUTHOR]

The worldwide increasing concern for climate change persuades policy makers to take into account also the environmental aspects when designing and assessing the effectiveness of economic policies. Fiscal reforms can be combined with environmental measures to achieve the complex target represented by economic growth and environmental protection. In this vein, this study proposes the reorganisation of federal taxation on corporate and personal income in USA, financed by the introduction of a carbon tax on economic activities. The study uses a dynamic CGE model calibrated on a US Social Accounting Matrix (SAM) with environmental accounts. The economic, socioeconomic and environmental impact assessed in this study gives two major policy recommendations: firstly, the reduction in personal income tax that is more geared to economic growth compared to the reduction in corporate income tax, and secondly, not to be detrimental for growth, the carbon tax introduction must be part of a policy framework. Indeed, if the personal income tax reduction is financed with the introduction of a carbon tax on economic activities, there is no harm to the economic growth and a benefit for the environment arises. [ABSTRACT FROM AUTHOR]

While countries increasingly commit to pricing greenhouse gases directly through carbon taxes or emissions trading systems, indirect forms of carbon pricing—such as fuel excise taxes and fuel subsidy reforms—remain important factors affecting the mitigation incentives in an economy. Taken together, how can policy makers think about the overall price signal for carbon emissions and the incentive it creates? We develop a methodology for calculating a total carbon price applied to carbon emissions in a sector, a fuel, or the whole economy. We recognize that rarely is a single carbon price applied across an economy; many direct carbon pricing instruments target specific sectors or even fuels, much like indirect taxes on fossil fuels; and carbon and fuel taxes can be substituted for one another. Tracking progress on carbon pricing thus requires following both kinds of price interventions, their coverage, and specific exemptions. This inclusive total carbon pricing measure can facilitate progress in discussions on minimum carbon price commitments and inform assessments of the pricing of carbon embodied in traded goods. Calculations across 142 countries from 1991 to 2021 indicate that although direct carbon pricing now covers roughly one-quarter of global emissions, the global total carbon price is not that much higher than it was in 1994 when the United Nations Framework Convention on Climate Change entered into force. Indirect carbon pricing still comprises the lion's share of the global total carbon price, and it has stagnated. Taking these policy measures into account reveals that many developing countries—particularly net fuel importers—contribute substantially to global carbon pricing. Tackling fuel subsidy reform and pricing coal and natural gas emissions more fully would have a profound effect on aligning carbon prices across countries and sectors and with their climate costs. [ABSTRACT FROM AUTHOR]

This study aims to elucidate the implications of carbon peak and carbon neutrality targets on corridor logistics, with a focus on the burgeoning high-speed rail express sector. Acknowledging carbon emissions taxation as an integral component of transportation costs, it examines the competitive dynamics among four cargo transport modes: high-speed rail (HSR), conventional rail, aviation, and road transport. Within a strategic game framework, carriers are analyzed based on freight rates, speed, safety, reliability, and convenience to assess their utility. A dynamic game model and a solution approach are developed, aiming to optimize freight-related variables, maximize carriers' generalized profits, and enhance shippers' utility. Empirical validation is provided through case studies in Xi'an and Lanzhou, northwest China, affirming the model's efficacy. The findings reveal the strong competitive edge of the high-speed rail express in the corridor, offering valuable insights for carrier pricing strategies, emission tax rate setting, and macro-policy adjustments in the transport sector. [ABSTRACT FROM AUTHOR]

This paper investigates the asymmetric effects of fossil fuels, foreign direct investment (FDI), and globalization on the ecological footprint (EFP) in Mexico from 1975 to 2020. To this end, the Autoregressive Distributed Lag (ARDL), Nonlinear Autoregressive Distributed Lag (NARDL), and the wavelet coherence approach are conducted. Based on the outcomes of the ARDL method, economic growth and fossil fuel consumption lead to ecological degradation, while foreign direct investment improves environmental conditions. Globalization has no impact on the environment. The NARDL approach illustrates that a positive shock to fossil fuels, FDI, and globalization degrades the environment. The wavelet coherence results emphasize the adverse environmental influence of economic growth and fossil fuels. These results imply that the Mexican government should conduct its economic expansion considering the principle of sustainable development. In this context, policymakers should propagate carbon taxes and similar instruments to promote clean energy sources that can replace fossil fuels and are compatible with sustainable development policies. [ABSTRACT FROM AUTHOR]

We estimate the effect of the natural gas fuel cost on the choices for a new power generator; the energy source of gas, wind, or solar; and its capacity. Higher fuel costs increase odds of more renewable capacity, as opposed to gas, with large, significant effects for both wind and solar. As the United States has yet to implement nationwide carbon policies, we use fuel cost to proxy for a carbon tax. Our scenarios of $10–$50 per ton of carbon dioxide reduce emissions from new generators by 22%–47%, equivalent to 2%–4% of total electricity emissions. [ABSTRACT FROM AUTHOR]

This paper sheds some light on the consequences of a carbon tax increase to achieve the national goal for carbon emissions. By use of a spatial computable general equilibrium model, STRAGO, the main purpose of the paper is to illustrate the effects on sectors in the economy and regions in Sweden from a climate scenario, by estimating expected substitution effects from a predetermined reduction in emissions. The climate scenario implies a gradual increase in the current carbon tax until the goal for the reduction in emissions has been reached. Doubling the carbon tax rate is expected to reduce the total consumption of fossil fuels by 18%, and in terms of reduced emissions and total welfare, the results are of the same order of magnitude as in previous Swedish studies. At the regional level, the effect on production is largest in Region West, as the production of petroleum and a large part of manufacturing is concentrated to this region. In terms of regional welfare, the northern regions, Upper-north in particular, lose more than central regions, which reflects differences in both industrial structure and carbon intensity, due to different transportation expenditures. The impact on welfare in northern regions is however mitigated by the substitution from fossil fuels to biofuels, as production of biofuels is concentrated to these regions. [ABSTRACT FROM AUTHOR]

We establish a general-equilibrium model to compare the efficiency of two emission regulation policies used worldwide: the carbon tax (CT) and the emission trading scheme (ETS). Assuming monopolistic competition and heterogeneous firms, we show that the ETS is better in an economy with a high degree of heterogeneity, and the CT is better otherwise. We also explore how the market distortions under these two regulation policies are different. Moreover, we find that the excessive input of an immobile resource in manufacturing production may result in market inefficiency. [ABSTRACT FROM AUTHOR]

Carbon tax has been identified as an important instrument in efforts to mitigate climate change in Indonesia. This study aims to evaluate the potential and challenges of implementing a carbon tax in the Indonesian context. Through a policy analysis approach, this study investigates income potential, economic impact, and policy effectiveness in reducing carbon emissions. The study also identifies key challenges that may be faced, such as industry resistance, infrastructure limitations, and equitable distribution of tax proceeds. Quantitative and qualitative methods were used to analyze data related to the impact and implementation of carbon taxes in other countries while considering the social, economic, and political context of Indonesia. The study's findings provide important insights for policymakers to design and implement an effective carbon tax, taking into account Indonesia's unique conditions. It is expected that this research can be a significant contribution to developing a sustainable and competitive climate change mitigation strategy for Indonesia. [ABSTRACT FROM AUTHOR]

Asset pricing and climate policy are analyzed in a global economy where consumption goods are produced by both a green and a carbon‐intensive sector. Given that the economy is initially heavily dependent on carbon‐intensive capital, the desire to diversify assets complements the attempt to mitigate economic damages from climate change. In the longer run, however, a trade‐off between diversification and climate action emerges. We derive the optimal carbon price and the equilibrium risk‐free rate, and risk premia. Climate disasters significantly decrease the risk‐free rate but increase risk premia on financial assets, especially if no climate policy is implemented. [ABSTRACT FROM AUTHOR]

The world is currently suffering from a significant environmental crisis characterized by global warming, rising sea levels, foods, and droughts. This has adversely affected the poorest nations, resulting in increased occurrences of both droughts and flooding that impact their means of livelihood. In order to address this issue, countries globally need to develop policies that efficiently reduce environmental destruction and achieve zero carbon emissions. A number of empirical estimates were used in this study. The Friedman, Frees, and Pesaran tests are used to evaluate cross‐sectional dependence. Unit root tests, such as the augmented Dickey–Fuller test, are used to assess the stationarity of variables. The Pedroni test is used in co‐integration analysis to find the long‐term relationships between variables, and a novel Panel quantile auto‐regression distributed lag methodology to investigate both long‐term and short‐run dynamics across G‐17 countries spanning from 2000 to 2021. The results clarify the pivotal role of carbon taxes, technological innovation, and renewable energy consumption in reducing carbon dioxide (CO2) emissions, thereby enhancing environmental quality, while the sustained use of natural resources is harmful to environmental quality. Furthermore, the finding reveals that Fintech's association with CO2 emissions negatively impacts environmental quality. The study also demonstrates the efficacy of environmental taxes in reducing CO2 emissions across, supporting for higher carbon pricing as a viable policy tool for environmental protection. [ABSTRACT FROM AUTHOR]

With the continuous growth of low-carbon economy and people's increasing preference for low-carbon products, the building carbon emission reduction (CER) has been highly concerned by the government. Therefore, in this study, we establish a game model through differential game to analyze the impact of government policies on building's CER. We get: (1) Compared with the carbon tax policy, the government policy combining carbon tax and cost subsidy is more conducive to reducing carbon emissions; (2) For the three government policies, when the cost subsidy rate is lower than a fixed value, the government policy combining carbon tax and cost subsidy is the optimal strategy for building's CER. When the cost subsidy rate is greater than a fixed value, the cost subsidy policy is the best strategy for building's CER. [ABSTRACT FROM AUTHOR]

In this work, we propose a new model to evaluate the impact of potential governmental policy as a green transition to decarbonise road freight transport. Contrary to the classical literature on the topic, our approach employs a bilevel structure optimization scheme. More precisely, a single-leader-multi-follower (SLMF) model is developed, where the state represents the leader and the freight companies act as the followers. A carbon tax is the selected public policy to foster the shift to less polluting freight technologies. The model responds to an exogenously determined demand that must be satisfied by a fleet that remains constant in size through time. The aim is thus to determine to what extent the tax policy will generate an evolution of the fleets of the different companies towards greener vehicles. An additional scientific contribution of the paper is that the SLMF model is solved thanks to a new numerical approach based on the so-called SOS1 technique. The implementation is applied in the case of the Ecuadorian freight transport and the results highlight an interesting evolution of the fleets. [ABSTRACT FROM AUTHOR]

The impacts of carbon tax, capital expenditure, and firm size on carbon emission disclosure are investigated and validated in this study. The focus of the research will be on industrial businesses with a mining related business that are listed between 2020 and 2022 on the Indonesia Stock Exchange (IDX). This study method use of purposive sampling. The secondary data used is financial records that are obtained from the Indonesia Stock Exchange website. The Eviews 12 program is used to do the panel data regression analysis. The results of the study indicate that carbon taxes are the only variables that significantly affect the disclosure of carbon emissions. Nonetheless, there are two different factors that negatively affect carbon emission disclosure: capital expenditure and firm size. [ABSTRACT FROM AUTHOR]

Excessive emission of greenhouse gases leads to the increasing greenhouse effect, adversely affecting the global climate. Carbon dioxide is the dominant part of greenhouse gases; reducing its emission is the most important way to solve the climate problem. Aiming at the characteristics of the dangerous goods transportation market and the development of the carbon tax policy, the carbon tax cost and the cost of dangerous goods transportation are introduced, and the characteristics of the dangerous goods transportation and the road traffic network and the road traffic in each period are fully analyzed. The optimization model of the path of the hazardous goods vehicles is established with the optimization objective of the lowest total cost. Then, by analyzing the advantages and disadvantages of bacterial foraging algorithm (BFA) and ant colony algorithm (ACO), the hybrid BFA-ACO algorithm is established by combining the two, and the replication and convergence operations of bacterial foraging algorithm are introduced into the ACO algorithm to improve the convergence speed and global convergence ability of the algorithm. The hybrid algorithm is then used to optimize and solve the path optimization model of hazardous materials vehicles and compared with the classical algorithms Genetic Algorithm (GA) and ACO for solving the path of dangerous materials vehicles. A comparison of the optimization results reveals that optimizing the model by bacterial foraging-ACO algorithm is better than optimizing the model by a single algorithm. [ABSTRACT FROM AUTHOR]

Background: The combustion of coal, the world's most polluting form of energy, must be significantly curtailed to limit the global average temperature increase to well below 2°C. Since carbon pricing is politically constrained, alternative policies, such as compensating coal plant owners, for early closure are being considered. Methods: Germany is the only country to date to have implemented a reverse auction to give compensation payments for early coal retirement. We analyse the merits and demerits of Germany's policy, drawing comparisons with other countries that have phased out coal through other means. Results: While bilateral negotiations can lead to excessive compensation due to asymmetric information, a competitive auction can discover the true cost of closure and help allocate funds more efficiently and transparently. Germany's experience illustrates the practical necessity of adjusting auction design to ensure additionality, reduce the risk of gaming and manage the security of supply. Conclusion: While auctions have attractive properties in theory, in practice, their design must address these concerns to unlock the full benefits. Retirement auctions that deliver compensation payments can be a pragmatic policy option, particularly in countries where an incumbent coal lobby makes punitive measures such as carbon taxation hard to implement. However, where there is a concentration in coal plant ownership, auctions will not work and alternative policies, such as enhanced incentives for scrappage and repurposing of coal assets, could be used instead. In many coal-burning areas, the decline of coal is slowed down by long-term contracts that insulate coal-fired generation from competition. Compensation for early closure is a 'pay-to-break' mechanism which may be a politically feasible alternative to 'polluter-pays' policies such as carbon pricing. Competitive auctions can deliver efficient and transparent compensation payments for early coal closures relative to negotiations which suffer from asymmetric information. Ensuring that there is sufficient competition in a coal closure auction through design adjustments can ensure discovery of true closure costs. Shutting down coal-fired power plants can lead to fiscal savings in countries where coal-fired generation is supported by capacity payments. [ABSTRACT FROM AUTHOR]

In recent decades, there has been increasing research interest in individuals' support of and resistance to climate and environmental policy instruments. However, there is an empirical bias in the literature, as few studies have been conducted in low-income countries. Based on a survey with 4,766 respondents we identify the level of public acceptability for climate policy instruments and their determinants in East Africa (Ethiopia, Kenya, Rwanda, Tanzania and Uganda). While our sample is not fully representative of the East-African population, we capture highly educated individuals in urban areas, who are likely to have a large influence on policy processes. In line with previous studies in other contexts, we find that higher education and climate change concern are linked to the acceptability of policies aimed at reducing fossil fuel consumption. Specifying how the revenue from a climate tax or subsidy removal would be used, almost doubled the support for these policy instruments. In contrast to earlier studies, we find that investments in social programmes, not environmental programmes, was the revenue specification that increased the acceptability the most. One possible explanation would be that in a context where poverty is more prevalent, social issues are more salient to people. We also find weak associations between trust in government and the acceptability of climate policy instruments in East Africa and large heterogeneity across the five focal East African countries. Besides establishing an empirical foundation for future research on climate policy support in East Africa, the study provides essential policy insights: Investing in education and improved information, contributing to increased awareness and understanding of climate concerns, can potentially increase support for climate policy proposals also in the East African context. Earmarking revenues from climate policy instruments for social programmes may also significantly boost support. However, as our study is not fully representative of the population in the five countries and relies on stated preferences, which may be subject to different biases, the results should be interpreted with caution. In a sample skewed towards more urban and educated East-Africans, specifying how the tax revenue would be used more than doubled the acceptability for climate taxes. Investments in social programmes was the revenue specification that increased the acceptability for climate taxes the most. Earmarking revenue use may be a way to increase carbon tax acceptability in East Africa. Investing in education and improved information contributing to increased awareness and understanding of climate concerns, can potentially increase support for climate policy proposals. The acceptability of a climate tax on fuel is lower than the acceptability of a quantity-based regulation on fossil fuel across the urban, well-educated and potentially politically influential population in East Africa. [ABSTRACT FROM AUTHOR]

Rates of achieving Urban Sustainability vary between world countries, it is one of the United Nations Sustainable Development Goals (SDGs 20230). Sustainable urbanism could be achieved through some common basic mechanisms such as awareness, enacting binding laws and legislation, imposing taxes, and fees, or providing various fiscal and urban incentives. Developing countries often do not resort to using fiscal incentives to avoid its reduction effect on their limited financial resources, and they may also avoid imposing relevant taxes such as carbon tax, energy tax, and climate change tax to prevent its negative effect on the competitiveness of the developing industrial and economic sectors there. Therefore, the research aims to propose the most appropriate urban incentives for Egypt and developing countries in general, with minimum negative commercial effect, and as one of the most influential means towards sustainability to fulfill the Egyptian Housing Strategy and activate GPRS “Green Pyramid Rating System”. The research follows comparative methodology, it compares the commonly used incentives in many countries globally and regionally. It identifies the incentives that may be more appropriate for Egypt and other developing countries in general. [ABSTRACT FROM AUTHOR]

A sustainable manufacturing–remanufacturing inventory model with two production phases is presented in this study. In this two phases model, the first phase is used for manufacturing whereas the second phase is used for both manufacturing and remanufacturing. Keeping in mind about environment and price of products, it is presumed that market demand rate is influenced by the greenness of item and unit selling price simultaneously. Remanufacturing is performed for non-serviceable items i.e., defective items which are produced from imperfect production and used items that are purchased from the market. But the products for which remanufacturing cost is more than manufacturing cost are scraped off. In the production process carbon releases from setting up, manufacture and holding of the perfect items. To mitigate the carbon emission carbon tax regulation is imposed. Next, concavity of the profit function is driven through the pseudo concavity. Profit is maximized by minimizing the economic, environmental, and social effect. The models are illustrated by a numerical example and a sensitivity analysis is also elaborated for fixed parameters. Special cases are provided to compare the result with previous literature. The results shows that manufacturer wishes to engage in remanufacturing as remanufacturing cost continuously increases with respect time. Another important finding is that the manufacturer can choose remanufacturing as the cost is lower than manufacturing for saving environment. Finally, mathematical findings are listed and managerial implications are recorded. [ABSTRACT FROM AUTHOR]

Considering carbon emission in inventory management model is a hot topic in current academic circles. Studying inventory pricing can provide managers with better managerial insights. Economic order quantity model mainly solves the inventory management problem of demand determination. However, due to the complex market environment in real life, it is difficult to meet the conditions of constant demand. In addition, with the enhancement of low-carbon awareness of enterprises, the study of pricing model based on low-carbon policies has also attracted the attention of a large number of scholars. The robust optimization theory is applied, the inventory pricing model of demand fluctuation under carbon cap, carbon tax and carbon cap-and-trade policies is considered, the robust equivalence form of the problem is studied. The profit comparison under different policies is given. Numerical experiments show that the carbon cap-and-trade policy can better control the carbon emission of enterprises. [ABSTRACT FROM AUTHOR]

This article discusses the importance of climate risk and environmental accounting in corporate reporting. It highlights the increasing concern over climate risk and its impact on companies' operations and performance. Stakeholders from various spheres are advocating for a transition to a low-emissions economy, pressuring organizations to disclose their climate-related risks and governance systems. Legislative developments, such as the Paris Agreement and the Task Force on Climate-Related Financial Disclosures (TCFD) recommendations, have further intensified the pressure on firms to integrate climate risk management into their accounting processes. The article features a collection of papers that explore different aspects of corporate reporting and how firms have responded to recent legislative and policy developments regarding climate risk disclosures. [Extracted from the article]

With the increasing requirements for environmental protection, authorities have enacted different carbon policies to promote sustainable practices. This study considers the competition among different manufacturers and multiple demand markets in the supply chain network. We examine and compare their equilibrium decision conditions under three common carbon policies: carbon cap, carbon cap‐and‐trade, and carbon tax. Results suggest that under lower carbon caps, manufacturers greatly reduce their carbon emissions by reducing production quantities, which causes a decrease in profits. However, an appropriate carbon cap size can not only motivate manufacturers to reduce carbon emissions but also improve their profits. Under a certain price for carbon credit, the effectiveness of a carbon cap‐and‐trade policy is similar to that of a carbon cap policy, but it has more flexibility. Carbon tax is effective, but it brings more tax burden to manufacturers. We provide implications for companies to optimize their production methods to achieve sustainability. [ABSTRACT FROM AUTHOR]

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A supply chain with a manufacturer and a seller is studied in this paper for the impact of monetary and symbolic incentives on reducing carbon emissions. It is the responsibility of the manufacturer to invest in carbon emission abatement technologies and that of the seller to sell such products to consumers with green preferences. The study findings reveal that (1) both monetary and symbolic incentives can contribute to reducing carbon emissions but the choice between them depends on the trade‐off between the cost‐sharing ratio and the market interest rate; (2) implementing a hybrid policy could crowd‐out carbon emission effects; and (3) the manufacturer may maximize his profits under a hybrid policy, but the seller may struggle to cover his expenses, which could hinder effective collaboration within the supply chain. [ABSTRACT FROM AUTHOR]

Based on the perspective of fiscal decentralization, the study focuses on 30 provinces in China and employs various econometric models including the threshold model, spatial econometric model, mediation model, and regulation model. The research findings indicate that fiscal decentralization has a double‐threshold effect on government intervention, market mechanisms, and regional carbon emission reduction. Both government intervention and market mechanisms have inhibiting effects on carbon emission, with significant coefficients of GOVI and MARM at the 1% level. The cooperation between government intervention and the market mechanism effectively limits carbon emissions. Government intervention facilitates regional carbon emission reduction through the construction of new infrastructures and energy structure transformation, yielding a significant intermediary effect. The market mechanism is positively regulated through green finance and technology innovation to promote regional carbon emission reduction. Moreover, government intervention enables the market to achieve carbon emission reduction more effectively, especially in areas with a higher degree of government intervention. Continuous improvement and upgrading of regional and national carbon markets are essential to attain the carbon peak and carbon neutrality goals. Furthermore, attracting more participants to these markets for emission control subjects is necessary to enhance the effectiveness of government–market coordination. [ABSTRACT FROM AUTHOR]

This paper investigates the optimal production and carbon reduction strategy for a capital‐constrained remanufacturing firm considering demand uncertainty. The remanufacturing firm can accept low‐carbon credit financing. We construct optimization models with no financing and low‐carbon credit financing and analyze the impacts of capital, carbon emission caps, and other factors on the remanufacturer's decision and profit. The results show that (i) the output of remanufactured products and overall profit are higher when using low‐carbon credit financing, regardless of strict carbon emission conditions; (ii) low‐carbon credit can help remanufacturers withstand the impact of carbon price fluctuations; (iii) the demand uncertainty of new and remanufactured products has opposite effects on carbon emission reduction investment; (iv) increasing the carbon cap can enhance the remanufacturing level while a high carbon cap reduce incentives to remanufacture. [ABSTRACT FROM AUTHOR]

This article examines a supply chain network that considers both economic and environmental factors. The network faces challenges related to multi‐item products and non‐homogenous vehicle types with different costs. Additionally, the production process involves multiple energy sources that emit different levels of air pollution. The main objective is to maximise profits while adhering to different carbon policies. To achieve this goal, the paper presents several supply chain models that are compared under different schemes: no carbon policy (basic one), carbon tax policy, carbon emission policy and carbon trading policy. These models were coded and solved to demonstrate their effectiveness for different conditions and scenarios. The results provide valuable insights for supply chain managers, enabling them to make well‐established decisions for executive planning. [ABSTRACT FROM AUTHOR]

There is still considerable resistance against carbon pricing — i.e. carbon taxation or cap-and-trade — in the social and policy sciences. We review its main arguments and conclude that they are not supported by the theoretical and empirical literature on instrument performance. Critics are also unable to offer alternative and feasible instruments that limit free riding in climate solutions and perform better on main evaluation criteria, namely effectiveness, efficiency, equity, and global-harmonization potential. Their argument that carbon pricing meets strong political resistance is countered by its widespread implementation already and by its ability to compensate inequitable impacts. We argue that overcoming unsubstantiated criticism on carbon pricing will lead to more consistent advice from policy experts to politicians, thus improving the feasibility of, and accelerating progress towards, globally harmonized and stringent climate policy. All in all, it might be more widely acknowledged that the remarkable feature of carbon pricing is that, if well implemented, it has a great number of advantages and few disadvantages. Rather than weakening political support by criticizing carbon pricing, critics would contribute more productively to effective global climate policy by defending proper and uniform implementation of it. [ABSTRACT FROM AUTHOR]

The refining industry is shifting from decarbonization to hydrogenation for processing heavy fractions to reduce pollution and improve efficiency. However, the carbon footprint of hydrogen production presents significant environmental challenges. This study couples refinery linear programming models with life cycle assessment to evaluate, from a long-term perspective, the role of low-carbon hydrogen in promoting sustainable and profitable hydrogenation refining practices. Eight hydrogen-production pathways were examined, including those based on fossil fuels and renewable energy, providing hydrogen for three representative refineries adopting hydrogenation, decarbonization, and co-processing routes. Learning curves were used to predict future hydrogen cost trends. Currently, hydrogenation refineries using fossil fuels benefit from significant cost advantages in hydrogen production, demonstrating optimal economic performance. However, in the long term, with increasing carbon taxes, hydrogenation routes will be affected by the high carbon emissions associated with fossil-based hydrogen, losing economic advantages compared to decarbonization pathways. With increasing installed capacity and technological advancements, low-carbon hydrogen is anticipated to reach cost parity with fossil-based hydrogen before 2060. Coupling renewable hydrogen is expected to yield the most significant economic advantages for hydrogenation refineries in the long term. Renewable hydrogen drives the transition of refining processing routes from a decarbonization-oriented approach to a hydrogenation-oriented paradigm, resulting in cleaner refining processes and enhanced competitiveness under emission-reduction pressures. [ABSTRACT FROM AUTHOR]

This article explores various challenges faced by domestic and international security, including climate change, loss of democratic governments, reproductive rights, and mass shootings. It highlights the efforts of individuals and organizations in America's heartland to address these issues. The article also discusses the rise of populist movements globally and emphasizes the importance of engagement with the rest of the world. Specific initiatives mentioned include the development of zero-emission infrastructure along the Interstate 80 Midwest corridor and the use of renewable natural gas by Cummins Inc. and Purdue University. The article emphasizes the need for local action, innovation, and collaboration to tackle these challenges. The federal government has recognized the potential of hydrogen to transform transportation and has provided funding to MachH2. The Midwest Hydrogen Hub, located in a key industrial and transportation corridor, plans to use hydrogen in various sectors such as steel and glass production, power generation, and transportation. The hub aims to create jobs and produce hydrogen using renewable energy, natural gas, and low-cost nuclear energy. Indiana is also promoting electric vehicle adoption through incentives and the installation of EV charging stations. The state is attracting foreign car manufacturers like Subaru, which is considering expanding its EV manufacturing capacity in Indiana. Indiana is also investing in renewable energy projects such as the Mammoth Solar farm and the Fowler Ridge Wind farms, driven by financial incentives and the need to transition away from coal and reduce carbon emissions. [Extracted from the article]

Climate change and the consequences of the energy crisis on the European energy markets require action to decrease the dependence on fossil fuels. Biomass‐based green gases can contribute to emission reduction goals and are therefore considered as essential energy carriers in the future energy system. The core objective of this work is a literature review on biomass‐based green gases covering important economic, environmental and policy‐related aspects of their use as energy carriers. The main obstacles to rapid deployment are the economic and environmental uncertainties. The production costs for biomethane and bio‐SNG vary from 51 to 134 EUR2020/MWh depending on the technology, size of the plant, and feedstock utilized. The current production costs are not economically feasible without policy support. Carbon taxes and incentives can act as effective measures to promote biomass‐based gases. Emission reductions for production and consumption are in the range of 45%–90% compared to natural gas and fossil‐based hydrogen. The system borders significantly affect the results, making it difficult to compare the findings from different studies. Therefore, more research needs to be conducted to evaluate the economic uncertainties for investors as well as the environmental impact of biomass‐based green gases. This article is categorized under:Sustainable Energy > Bioenergy [ABSTRACT FROM AUTHOR]

We study how the implementation of emissions trading systems (ETSs) impacts emissions reductions and the usage of renewable energy using a panel sample of the largest 100 countries worldwide. Exploiting cross-country variations in ETS implementations, we show that ETS adoption materially reduced greenhouse gas (carbon dioxide) emissions by 12.1% (18.1%). Moreover, ETSs reduced overall emissions by cutting the usage of fossil fuels such as coal by 23.70% while boosting the usage of renewable energy by 61.59%, on average. In contrast, introducing carbon taxes has a less effective impact on emissions reduction. It fails to boost the usage of renewable energy, though elevating tax rates and expanding tax coverage may help enhance the efficacy of carbon taxes. This paper was accepted by Victoria Ivashina, finance. Funding: H. Ru thanks the financial support from the Nanyang Technological University, and Ministry of Education, Singapore, under its Tier 1 RG134/20. Supplemental Material: The online appendix and data files are available at https://doi.org/10.1287/mnsc.2023.03143. [ABSTRACT FROM AUTHOR]

Purpose: This study investigates the association between debt overhang and carbon emissions (both direct and indirect emissions) using a sample of US publicly listed firms. Design/methodology/approach: The study applies generalized least squares (GLS) regression analyses to a sample of 2,043 US firm-year observations over a period of 14 years from 2007 to 2020. The methods include contemporaneous effect, lagged effect, alternative measures of carbon emissions and debt overhang, intensive versus non-intensive analysis, channel analysis, firm fixed effects, change analysis, controlling for credit rating analysis, propensity score matching approach, instrumental variable analysis with industry and year fixed effect. Findings: This study's findings reveal that the debt overhang problem increases carbon emissions. This finding holds when the authors use alternative measures of carbon emissions and debt overhang. The authors find that carbon abatement investment is a channel that is negatively impacted by debt overhang, which in turn increases carbon emissions. This study's results are robust for several endogeneity tests, including firm fixed effects, change analysis, propensity score matching approach and two-stage least squares (2SLS) instrumental variable analysis. Practical implications: The outcome of this research has policy implications for several stakeholders, including investors, firms, market participants and regulators. This study's findings offer insights for investors and firms, helping them allocate resources effectively and make financing decisions aimed at reducing carbon emissions. Regulators and policymakers can also use the findings to formulate policies that promote alternative sustainable finance practices. Originality/value: The outcome of this research is likely to help firms develop their understanding of the debt overhang problem and undertake strategies that yield a significant amount of funding to invest in reducing carbon emissions. [ABSTRACT FROM AUTHOR]

This study takes a supply chain network composed of manufacturers, retailers and demand markets as the research object and analyses the impact of the government's carbon trading price (CTP), carbon tax (CT) and low-carbon product subsidy (LPS) policies on the supply chain network equilibrium. We determine the equilibrium state of members by using variational inequality and then construct a network equilibrium model that considers these three policies. A modified projection algorithm is used to verify and solve the model. The results show that a higher CTP helps to reduce carbon emissions but reduces the transaction quantity of products. Further, when the CTP increases, the system's profits increase only under the LPS policy. However, regardless of the CTP level implemented, if the CT rate is higher than the subsidy level, carbon emissions are lower. Notably, under the same levels of LPS and CT, LPS has a greater effect on the system. [ABSTRACT FROM AUTHOR]

We analyze the economic impact of using carbon pricing revenue to fund the European Union (EU) budget. Such a reform would redistribute from countries with above‐average carbon‐intensive production to less‐carbon‐intensive countries. Once the reform is implemented, the low‐carbon countries will prefer a lower carbon price (i.e., laxer climate policy at the EU level) than before the reform, and vice versa. As a result, EU climate policy becomes less ambitious and less disputed, where quantitative impacts presumably remain small. Weaker incentives for national governments to enforce emission taxes after revenue centralization might also contribute to higher emissions. [ABSTRACT FROM AUTHOR]

Discourse concerning themost effective way for enterprises to offset environmental impacts is well established. While certain approaches like the Triple Bottom Line (TBL) have gained widespread acceptance, other initiatives like introducing the Carbon Tax in Australia have not been successful. This study examines the practical implementation of two environmental accounting models, the TBL and Carbon Tax, analysing their benefits and drawbacks and focusing on their application within the Australian accounting system. Using discourse and content analysis within two case studies of two different sectors -- the banking sector (Westpac) and themanufacturing sector (BlueScope), this research contributes to the discourse concerning the implementation of such disclosures and how models such as theTBLand CarbonTax initiative could be effectively used in practice. The results show that the implementation of theTBLwas more widely adopted and seen as a positive factor in determining the company's environmental impact as viewed by investors. The Carbon Tax was initially adopted less frequently until modifications were made to allow for voluntary compliance. This was due to the misalignment of the cost of the tax with the financial priorities of each sector. Furthermore, the study suggests that a more comprehensive approach that leverages the strengths of both models to complement each other within an integrated framework may be the best solution for organisations seeking a more systemic approach to environmental disclosures and offsetting in their supply chain network. [ABSTRACT FROM AUTHOR]

This paper studies supply chain pricing and production/ordering decisions under carbon tax policy and retailer's stochastic demand. Firstly, a supply chain model with random demand obeying normal distribution is established. Based on this, a stochastic optimization problem with the goal of maximizing expected social welfare is constructed. The multi-agent consensus is used to solve the optimization problem, and the pricing and production/ordering decisions with random demand obeying normal distribution are obtained. Finally, the theoretical results are verified by numerical simulation, and the influence and effectiveness of multi-agent consensus theory on supply chain decision-making are demonstrated in the presence of random demand and sudden failure of an enterprise in the supply chain and further analyze the impact of carbon tax policy on supply chain decision-making. [ABSTRACT FROM AUTHOR]

Our ability to fight COVID-19 demonstrates that where there's a will, there's a way. Yet proactive action will not be the single driving force behind us winning a stable and benign environment for our children. This article focuses on the not so obvious yet impactful trends affecting our ability to stave off the worst of climate change. These trends include carbon taxation, climate litigation, AI, space exploration, Direct Air Capture and an ever younger, more motivated demographic. Some trends will affect our efforts in unknown and unpredictable ways, while others will drive them with ever more force over the years to come. Carbon taxation requires a proactive change in government policy, but that change will place implementation in the hands of the free market. As we face an existential crisis never before seen by humanity, perhaps the largest driving force affecting our ability to ensure a healthy planet will be a more engaged public. [ABSTRACT FROM AUTHOR]