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Effective policy tools are urgently needed to enable the United States to keep pace with international climate goals. “Feebates”—fees applied to the purchase of vehicles with higher emissions and rebates for clean ones—have become an effective and increasingly common strategy for shaping vehicle markets in European countries. A holistic policy framework that will accelerate the transition to zero emission vehicles (ZEVs) in the US will likely include strong federal policies such as sales mandates, purchase fees for higher emission vehicles, and purchase incentives for ZEVs. Researchers from the University of California, Davis examined what makes a feebate policy work and how this strategy can be leveraged to shift US vehicle markets. The research included a review and analysis of feebate mechanisms in European countries. This policy brief summarizes research findings and provides policy implications. View the NCST Project Webpage

This study looks at China’s supportive market and regulatory frameworks for a sustainable energy transition. It examines how public and commercial sectors help shift to cleaner, more sustainable energy. We use both methods to evaluate the effectiveness of policies, legislation, and incentives in boosting green energy adoption. This inquiry also examines how governments and businesses collaborate to meet China’s ambitious energy transformation objectives. Climate change and China’s air pollution need a shift away from coal-based energy generation. The historical study shows two policy mix temporal variations: rules and instruments configurations and regulatory intensity and concentration. The strategy combination has moved from authority-based instrumentation to the current response, resulting in a lot of instrumentation and several device kinds. The Chinese government is experimenting with new rules to minimize carbon dioxide emissions while enforcing air pollution reduction and renewable energy assistance initiatives. This study explores the complicated relationship between policy frameworks and market dynamics to understand better how government-crafted strategic plans may align with market processes and capitalize on private-sector innovation and investment. Through case studies and theoretical models, it outlines each industry’s mutually beneficial role in supporting sustainable energy. New legislative tools, calibrated ones, and policies that replace and sequence all evolutionary traits are needed. The study shows that China has used a complex set of regulatory mechanisms to reduce coal-based power sector pollution and encourage renewable energy technology. [ABSTRACT FROM AUTHOR]

The intermittence and unpredictability of large-scale renewable integration poses significant challenges to the operation of the electricity market. New paradigms of the joint electricity spot market (EM) and ancillary service market (ASM) incorporating frequency regulation (FR) and flexible ramping product (FRP) are considered as potential solutions, addressing the challenge of limited compatibility in the electricity market with the widespread integration of renewable sources. This work focuses on three critical technical obstacles: optimizing the joint market mechanisms, constructing bidding models, and exploring algorithmic solutions. This paper presents a brief review of recent research on bidding mechanisms, models, and strategies for the electricity joint market with high-penetration renewable integration. Furthermore, challenges and future research prospects of these issues are also discussed. [ABSTRACT FROM AUTHOR]

Using the panel data of 19 old revolutionary base areas in China from 2003 to 2020, this study measures the process of sustainable development and the coupling and coordination of economic, environmental, and social systems in less developed regions and investigates the influencing factors of sustainable development. The results show that the sustainable development of the old revolutionary base areas has generally shown an upward trend, while in recent years, it has fluctuated and declined. The coupling coordination degree of the system has similar characteristics, and the sustainable development and coupling coordination degree of the eastern region are higher than that of other regions. The regression results show that both effective government and efficient markets can promote the sustainable development of the old revolutionary base areas. Government factors play a more vital role in the eastern region, and market mechanisms play a greater role in the central and western regions. Nevertheless, the interaction term between the market and government is negative, indicating that the coordination between government factors and the market mechanism needs to be improved in revitalizing the old revolutionary base areas. [ABSTRACT FROM AUTHOR]

Cross-regional electricity trading is critical to optimizing energy resource allocation and enhancing societal benefits. Reviewing theoretical research on key mechanisms of cross-regional electricity markets and drawing lessons from typical markets are of great significance for developing such markets. Firstly, key mechanisms of cross-regional electricity markets are outlined, including market basic structure, trading modes, market coordination mechanisms, and transmission pricing mechanisms. Secondly, the key mechanisms of typical cross-regional trading markets, including those in Europe, the United States, and China, are analyzed and compared. In addition, a summary analysis is conducted on the problems existing in further developing typical regional electricity markets towards cross-regional trading markets, along with corresponding solutions. Moreover, the key issues needing focus in different mechanism designs of cross-regional trading markets are summarized to provide theoretical foundations for other countries or regions.

Forestry offsets, recognized for their diverse environmental and social co-benefits, are gaining a growing interest as nature-based solutions to combat climate change. Despite Canada's extensive forest resources, its potential for carbon credit remains largely untapped. This study aims to unveil the prevailing challenges in developing forestry offsets in Canada and propose potential solutions, drawing on insights from in-depth semi-structured interviews (SSIs) with 23 experts in the field. A qualitative thematic analysis highlighted 14 challenges under four major frequently discussed themes: methodological (37%), social (29%), economic (22%), and implementation challenges (12%). Our findings highlighted the urgency of addressing key obstacles, including the impermanent nature of forestry carbon offsets, substantial public knowledge gaps, uncertainties in the cost-effectiveness impacting financial viability, and the need for enhanced capacity for project implementation. Building on the discussions on the identified challenges, this study further presented a comprehensive analysis of the future directions for Canada, emphasizing the importance of addressing key methodological issues, enhancing public and Indigenous education and engagement, and leveraging advanced technologies and innovative approaches like ton-year accounting for economic viability. This paper delivers pivotal insights that have the potential to shape the direction and integrity of the forestry offset markets in both Canada and globally. [ABSTRACT FROM AUTHOR]

This work focused on prescribing, designing, implementing, and evaluating a pilot project conducted in the Greek power system that addressed balancing and congestion management issues that system operators (SOs) face within the clean energy era. The considered pilot project fully focused on the development of the F-channel platform, including the idea behind this application, the steps that were taken in the process, and the outcomes of the performed activities fitting into the overall picture of the OneNet project. The specified F-channel platform is a web-based, client-server application that uses artificial intelligence (AI) techniques and cloud computation engines to improve the management of the active power for the TSO-DSO coordination. The flexibility of the grid's resources was identified, and an integrated monitoring system based on the precise forecasting of variable generation and demand was implemented. The focus areas were congestion management, frequency control, and voltage control services, for which corresponding network models were created in close cooperation with system operators. The obtained results are essential for the remaining demonstration results because they offer an incredibly accurate basis for further research into their use in congestion management and other weather-related enhanced transmission and distribution system planning and operation practices. [ABSTRACT FROM AUTHOR]

This article addresses the market of organic products, highlighting the role of networks for the creation of trading spaces. Based on organic production data and on the analysis of different experiences linked to the Circuito Sul de Circulação e Comercialização de Produtos Agroecológicos da Rede Ecovida de Agroecologia (Southern Circuit of Circulation and Commercialization of Agroecological Products of the Ecovida Agroecology Network), the aim was to discuss and problematize the scales in the networks of organic products, with emphasis on the peasant agriculture. In these terms, the market is formed by disputed territorialities, leading to conflicts between hegemonic and counter-hegemonic agents who use different spatial practices to expand their scales of action and strengthen their respective territorial projects. Peasant agriculture, through multi-scale relationships, has created successful alternatives in the organic products market, strengthening its relative autonomy based on Agroecology

Recent events within the Australian National Electricity Market have demonstrated that the system of an energy-only market (a market that only compensates power that has been produced) is no longer fit for purpose. The rate of change in installed capacity and generation requires better planning to ensure reliability is maintained at the lowest total system cost during the transition to net zero. Australian National Electricity Market participants will need sufficient incentives and confidence to invest in new capacity. This paper assesses a "no constraints" scenario and recommends a range of policy and market mechanisms that could be utilized to achieve a net zero National Electricity Market in Australia by 2050. This paper adopts the perspective of total system cost, which allows multiple factors relating to decision-making to be incorporated. In the absence of a carbon price, this paper seeks to put forward technology-based policy and market mechanisms to incentivise the changes required. The "Modelling Energy and Grid Services" model used in this study has shown that this "no constraints" future grid will need to contain approximately 100 GW of variable renewable energy, almost 20 GW of firm, low-emissions generation, such as carbon capture, utilisation and storage, bioenergy with carbon capture and storage, hydroelectric power, or nuclear power. It will also require more than 10 GW of storage, including pumped hydro energy storage and other energy storage technologies, and over 30 GW of firm, dispatchable peaking plants, including thermal power generation. [ABSTRACT FROM AUTHOR]

Electricity generation using distributed renewable energy systems is becoming increasingly common due to the significant increase in energy demand and the high operation of conventional power systems with fossil fuels. The introduction of distributed renewable energy systems in the electric grid is crucial for delivering future zero-emissions energy systems and is cost-effective for promoting and facilitating large-scale generation for prosumers. However, these deployments are forcing changes in traditional energy markets, with growing attention given to transactive energy networks that enable energy trading between prosumers and consumers for more significant benefits in the cluster mode. This change raises operational and market challenges. In recent years, extensive research has been conducted on developing different local energy market models that enable energy trading and provide the opportunity to minimize the operational costs of the distributed energy resources by promoting localized market management. Local energy markets provide a stepping stone toward fully transactive energy systems that bring adequate flexibility by reducing users' demand and reflecting the energy price in the grid. Designing a stable regulatory framework for local electricity markets is one of the major concerns in the electricity market regulation policies for the efficient and reliable delivery of electric power, maximizing social welfare, and decreasing electric infrastructure expenditure. This depends on the changing needs of the power system, objectives, and constraints. Generally, the optimal design of the local market requires both short-term efficiencies in the optimal operation of the distributed energy resources and long-term efficiency investment for high quality. In this paper, a comprehensive literature review of the main layers of microgrids is introduced, highlighting the role of the market layer. Critical aspects of the energy market are systematically presented and discussed, including market design, market mechanism, market player, and pricing mechanism. We also intend to investigate the role and application of distributed ledger technologies in energy trading. In the end, we illuminate the mathematical foundation of objective functions, optimization approaches, and constraints in the energy market, along with a brief overview of the solver tools to formulate and solve the optimization problem. [ABSTRACT FROM AUTHOR]

The approach of an integrated electricity market is widespread across Europe, since such a market structure has numerous benefits for both the grid and consumers. The current structure and the related policy framework of the electricity markets adopted within the European countries is based on a benchmark model, the so-called Target Model, which describes a reference energy market framework. In this paper, a comprehensive overview of the legislative effort and the resulting Target Model is provided, aiming to set the basis for the description of the adopted electricity markets in Europe. In a second stage, the current status of the Greek electricity market that operates under the Target model scheme is given via the analysis of the involved submarkets, i.e., the forward market, the day-ahead market, the intraday market, and the balancing market. An intricate case study of the Target Model operation in the Greek electricity market within a day of operation is examined, which actually completes the former description. Within the case study, the Greek electricity market is further investigated for its efficiency and the impact on the obtained electricity prices from the first day of the Target Model implementation, which took place in November 2020, and, finally, today is analysed. The results show an overall successful implementation and satisfactory performance of the Target Model in Greece, with an important main result being the reduction of prices in the balancing market and the increase of the intraday market liquidity. However, several challenges are identified and described in detail, while at the same time measures for their confrontation are proposed in order to improve market operation and fully exploit the benefits of the Target Model. [ABSTRACT FROM AUTHOR]

This article addresses the market of organic products, highlighting the role of networks for the creation of trading spaces. Based on organic production data and on the analysis of different experiences linked to the Circuito Sul de Circulação e Comercialização de Produtos Agroecológicos da Rede Ecovida de Agroecologia (Southern Circuit of Circulation and Commercialization of Agroecological Products of the Ecovida Agroecology Network), the aim was to discuss and problematize the scales in the networks of organic products, with emphasis on the peasant agriculture. In these terms, the market is formed by disputed territorialities, leading to conflicts between hegemonic and counter-hegemonic agents who use different spatial practices to expand their scales of action and strengthen their respective territorial projects. Peasant agriculture, through multi-scale relationships, has created successful alternatives in the organic products market, strengthening its relative autonomy based on Agroecology. [ABSTRACT FROM AUTHOR]

Incentive zoning provides bonuses to developers (e.g., increased density or height) in return for public amenities (e.g., affordable housing or green buildings). We surveyed and interviewed local officials to investigate a) the adoption rate of incentive zoning across the United States, b) the bonuses offered to developers and the amenities sought by governments, c) whether municipalities conduct a cost–benefit analysis between bonuses and amenities, and d) the relationship between local autonomy, growth, public participation, and incentive zoning. Forty-one percent of surveyed communities reported having incentive zoning. The most common bonus offered to developers was density. The most common amenities sought by municipalities were mixed-use development, open space conservation, walkability, affordable housing, and public parks. Most communities did not conduct a cost–benefit analysis while developing or applying incentive zoning, which we found was correlated to lower utilization. Some communities used incentive zoning to entice developers to provide benefits (e.g., affordable housing or green buildings) that state legislation prohibited them from requiring. Planners can use incentive zoning to induce developers to provide public amenities as part of their projects, especially when the political, market, or legal environment is not conducive to requiring desired amenities. Our findings suggest that planners and local officials frustrated by state preemptions in certain land use areas can investigate incentive zoning to achieve local goals. Also, practitioners must find ways to make the incentives attractive to developers while maximizing community benefit. [ABSTRACT FROM AUTHOR]

Forestry offsets, recognized for their diverse environmental and social co-benefits, are gaining a growing interest as nature-based solutions to combat climate change. Despite Canada’s extensive forest resources, its potential for carbon credit remains largely untapped. This study aims to unveil the prevailing challenges in developing forestry offsets in Canada and propose potential solutions, drawing on insights from in-depth semi-structured interviews (SSIs) with 23 experts in the field. A qualitative thematic analysis highlighted 14 challenges under four major frequently discussed themes: methodological (37%), social (29%), economic (22%), and implementation challenges (12%). Our findings highlighted the urgency of addressing key obstacles, including the impermanent nature of forestry carbon offsets, substantial public knowledge gaps, uncertainties in the cost-effectiveness impacting financial viability, and the need for enhanced capacity for project implementation. Building on the discussions on the identified challenges, this study further presented a comprehensive analysis of the future directions for Canada, emphasizing the importance of addressing key methodological issues, enhancing public and Indigenous education and engagement, and leveraging advanced technologies and innovative approaches like ton-year accounting for economic viability. This paper delivers pivotal insights that have the potential to shape the direction and integrity of the forestry offset markets in both Canada and globally.

This work focused on prescribing, designing, implementing, and evaluating a pilot project conducted in the Greek power system that addressed balancing and congestion management issues that system operators (SOs) face within the clean energy era. The considered pilot project fully focused on the development of the F-channel platform, including the idea behind this application, the steps that were taken in the process, and the outcomes of the performed activities fitting into the overall picture of the OneNet project. The specified F-channel platform is a web-based, client-server application that uses artificial intelligence (AI) techniques and cloud computation engines to improve the management of the active power for the TSO-DSO coordination. The flexibility of the grid’s resources was identified, and an integrated monitoring system based on the precise forecasting of variable generation and demand was implemented. The focus areas were congestion management, frequency control, and voltage control services, for which corresponding network models were created in close cooperation with system operators. The obtained results are essential for the remaining demonstration results because they offer an incredibly accurate basis for further research into their use in congestion management and other weather-related enhanced transmission and distribution system planning and operation practices.

Illegal private land deforestation threatens global biodiversity, even in areas with native habitat requirements stipulated by law. Compliance can be improved by allowing landholders to meet legal reserve requirements by buying and selling the rights to have deforested land through a Tradeable Development Rights system (TDR). While this policy mechanism may prevent native habitat area loss, the spatial pattern of reserved areas will shift, creating novel landscape patterns. The resulting altered fragmentation and connectivity of habitat will impact biodiversity. TDR may also allow landholders to earn rent on land they never intended on converting, resulting in additional deforestation elsewhere and net habitat loss. We construct a simulation model to explore the potential implications for biodiversity when development rights can be traded, compared with the landscape resulting from enforced individual compliance with deforestation laws. We find that where future deforestation is very likely, a TDR market can provide better outcomes for both biodiversity and agriculture, resulting in more connected habitat networks with larger fragments and fewer edge effects. However, the TDR market can be harmful if future deforestation is unlikely, or if one habitat type is tightly spatially correlated with high economic returns from agriculture. Policy implications. Allowing landholders to buy and sell the rights to keep more cleared land than legally stipulated will result in transformed multiuse landscapes. Losses of native habitat in some areas will be offset in others. We conclude that trading forest development rights has the potential to improve habitat configurations, but that careful consideration should be given to current species distributions and likely future deforestation scenarios.

Extending recent work on market mechanisms in new fintech offerings, we explore the implications of a key mechanism in online crowdfunding-the use of a provision point. Under a provision point mechanism (otherwise known as all-or-nothing or fixed fundraising scheme), the fundraiser, typically an entrepreneur, only receives funds pledged toward his or her campaign if a preregistered fundraising target is met, rather than keeping everything that is raised. Provision points may weaken contributors' reliance on prior capital accumulation for judging a project's potential for success, by eliminating their concerns about a partial fundraising outcome and by signaling the project or entrepreneur's quality. Yet, provision points may also induce attention to prior capital accumulation, because the materialization of one person's contribution depends explicitly on sufficient contributions from others (a network effect). We assess this tension empirically, leveraging proprietary data from a leading crowdfunding platform that allows entrepreneurs to opt into a provision point. We consider the effects of prior capital accumulation on visitors' conversion and contribution decisions, and the moderating influence of a provision point. We find that provision points weaken the association between prior capital accumulation and visitor contribution, implying a reduction in potential herd behavior. [ABSTRACT FROM AUTHOR]

Forest carbon offset (FCO) projects play an increasingly important role in mitigating climate change through market mechanisms in both compliance and voluntary markets. However, there are challenges and barriers to developing an FCO project, such as carbon leakage and cost-effectiveness. There have been few attempts to summarize and synthesize all types and aspects of existing challenges and possible solutions for FCO projects. This paper systematically reviews and discusses the current challenges involved in developing FCO projects, and then draws on the experience and lessons of existing projects to show how those challenges were addressed in world-leading voluntary carbon standards, namely the Verified Carbon Standard, the American Carbon Registry, the Climate Action Reserve, and Plan Vivo. These voluntary markets have rich experience in FCO projects and are responsible for a significant share of the market. From the 53 publications used in this analysis, three broad thematic categories of challenges emerged. These were related to methodology, socio-economic implications, and implementation. Methodological challenges, particularly additionality, permanence, and leakage, were the focus of 46% of the selected research papers, while socio-economic challenges, including transaction, social, and opportunity costs, were addressed by 35%. The remaining 19% of the research articles focused on implementational challenges related to monitoring, reporting, and verification. Major voluntary standards adequately addressed most of the methodological and implementational barriers by adopting various approaches. However, the standards did not adequately address socio-economic issues, despite these being the second most frequently discussed theme in the papers analyzed. More research is clearly needed on the socio-economic challenges involved in the development of FCO projects. For the development of high-quality forestry carbon offset projects, there are many challenges and no simple, universal recipe for addressing them. However, it is crucial to build upon the current science and move forward with carbon projects which ensure effective, long-term carbon sinks and maximize benefits for biodiversity and people; this is particularly important with a growing public and private interest in this field. [ABSTRACT FROM AUTHOR]

On the occasion of the 20th anniversary of International Environmental Agreements: Politics, Law & Economics, we conduct an extensive review of papers published in this journal that address the economic dimensions of international environmental agreements (IEAs). We focus particularly on the lessons learnt from this body of literature and the implications for the assessment and design of IEAs in relation to goals such as efficiency, effectiveness, and equity. Our key conclusions run as follows. First, at the international level, universal coalitions are more cost-efficient and effective than fragmented regimes, but more difficult to negotiate and less stable. Second, in developing countries, there is need for substantial external funding to cover the short-run costs of environmental compliance. Third, market-based solutions have been increasingly applied in international agreements but with mixed results. For example, cap-and-trade systems have the potential to achieve greenhouse gas emissions reductions and least economic cost. But in the provisioning of water services, private sector solutions often result in outcomes that are unaffordable for low-income groups or nonviable for businesses, suggesting well-designed public–private partnerships. At the international level, Green Bond markets can attract investors for climate and environmental projects, but implementation failures tend to weaken outcomes. Finally, in practical politics, economically optimal designs are rarely achieved. Future applied economic research should therefore critically investigate institutions and the scope for their reform. Gains in knowledge are expected to come from economic analyses taking a broader perspective on "the economy", taking institutions and social and ecological relations into account from the start. [ABSTRACT FROM AUTHOR]

Background and Aims: The configuration of alcohol and other drug treatment service systems has been influenced by the uptake of market mechanisms for treatment funding and purchasing. This study measured the impact of market mechanisms for funding and purchasing alcohol and drug treatment services on client outcomes. Design An observational cross‐sectional study, employing multi‐level analysis: episodes of care data, nested within person‐level data, nested within treatment site and nested within organization. Setting and participants: One hundred and seventy‐eight alcohol and other drug treatment service sites in Australia. Measurements Client outcome variables were length of stay and successful treatment completion. Predictor variables were competitive tendering, number of funding contracts, recurrent funding, the ratio of episodes to staff, type of professions, years of clinical experience, staff turnover and type of provider (government; non‐government). Analyses controlled for drug type, type of treatment received and client characteristics. Findings There were no significant associations between the procurement and contracting variables and length of stay [incidence rate ratios (IRRs) ranged between 1.01 and 1.07, all P > 0.05; Bayes factors (BF) < 0.03], and inconclusive results for treatment completion [odds ratios (ORs) ranged between 1.04 and 1.15, all P > 0.05, BF = 0.51–0.63]. Having an alcohol and other drug (AOD) work‐force relative to an 'other' work‐force (IRR = 0.79, P = 0.021) and lower case‐loads (IRR = 0.99, P = 0.047) may be associated with longer stay in treatment. Receiving services from a government compared to non‐government provider may also be associated with less treatment completion (OR = 0.34, P = 0.023, BF = 2.14). Conclusions: There appears to be no association between client outcomes and procurement and funding contract arrangements for alcohol and drug treatment services. [ABSTRACT FROM AUTHOR]

Electricity generation using distributed renewable energy systems is becoming increasingly common due to the significant increase in energy demand and the high operation of conventional power systems with fossil fuels. The introduction of distributed renewable energy systems in the electric grid is crucial for delivering future zero-emissions energy systems and is cost-effective for promoting and facilitating large-scale generation for prosumers. However, these deployments are forcing changes in traditional energy markets, with growing attention given to transactive energy networks that enable energy trading between prosumers and consumers for more significant benefits in the cluster mode. This change raises operational and market challenges. In recent years, extensive research has been conducted on developing different local energy market models that enable energy trading and provide the opportunity to minimize the operational costs of the distributed energy resources by promoting localized market management. Local energy markets provide a stepping stone toward fully transactive energy systems that bring adequate flexibility by reducing users’ demand and reflecting the energy price in the grid. Designing a stable regulatory framework for local electricity markets is one of the major concerns in the electricity market regulation policies for the efficient and reliable delivery of electric power, maximizing social welfare, and decreasing electric infrastructure expenditure. This depends on the changing needs of the power system, objectives, and constraints. Generally, the optimal design of the local market requires both short-term efficiencies in the optimal operation of the distributed energy resources and long-term efficiency investment for high quality. In this paper, a comprehensive literature review of the main layers of microgrids is introduced, highlighting the role of the market layer. Critical aspects of the energy market are systematically presented and discussed, including market design, market mechanism, market player, and pricing mechanism. We also intend to investigate the role and application of distributed ledger technologies in energy trading. In the end, we illuminate the mathematical foundation of objective functions, optimization approaches, and constraints in the energy market, along with a brief overview of the solver tools to formulate and solve the optimization problem.

Recent events within the Australian National Electricity Market have demonstrated that the system of an energy-only market (a market that only compensates power that has been produced) is no longer fit for purpose. The rate of change in installed capacity and generation requires better planning to ensure reliability is maintained at the lowest total system cost during the transition to net zero. Australian National Electricity Market participants will need sufficient incentives and confidence to invest in new capacity. This paper assesses a “no constraints” scenario and recommends a range of policy and market mechanisms that could be utilized to achieve a net zero National Electricity Market in Australia by 2050. This paper adopts the perspective of total system cost, which allows multiple factors relating to decision-making to be incorporated. In the absence of a carbon price, this paper seeks to put forward technology-based policy and market mechanisms to incentivise the changes required. The “Modelling Energy and Grid Services” model used in this study has shown that this “no constraints” future grid will need to contain approximately 100 GW of variable renewable energy, almost 20 GW of firm, low-emissions generation, such as carbon capture, utilisation and storage, bioenergy with carbon capture and storage, hydroelectric power, or nuclear power. It will also require more than 10 GW of storage, including pumped hydro energy storage and other energy storage technologies, and over 30 GW of firm, dispatchable peaking plants, including thermal power generation.

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In 2012 USDA began releasing crop reports during trading hours. Prior reports were released during a trading halt, and in the electronic trading platform traders competed in a batch auction for 2 h. Compared to the current real‐time release policy, the batch auction reduced speed advantage, lowered market volatility, and improved liquidity around report releases, at the cost of delaying price discovery. The results reported here support the argument that the development of a shorter batch auction could improve on the lengthy price discovery process while maintaining the batch auction's other advantages. These findings are relevant to not only developed countries with well‐established exchanges and public information systems, but to developing countries who have recently launched or are planning to launch futures commodity markets. [ABSTRACT FROM AUTHOR]

Government policies both in fiscal and monetary terms are the foundation of economic growth. Good governance will get good results. Above all, there is the Islamic Sharia which in turn brings the economy to its own balance. Like that happened in Bengkalis last time. The faith, piety and patience of the Muslim community make Bengkalis not only prosperous, but it is also safe and secure until today. In the 1980-1990 decade, as is commonly known, it was a transitional era in all aspects of life, and in many places, the same phenomena were found. Like the difficulty of life, inadequate infrastructure, lack of transportation and so forth, in essence, provide lessons for later generations to always be grateful to Allah for all the abundance of grace and blessings of Allah.

Sammendrag Norske kommuner benytter i varierende grad konkurranse og markedsmekanismer til å organisere renovasjonstjenestene. De vanligste begrunnelsene for å innføre slike reformer er ønsket om å øke effektiviteten og redusere kostnadene. Det finnes imidlertid begrenset litteratur om hvordan kommunal organisering av tjenester påvirker brukertilfredshet, og de få unntakene som eksisterer, har hovedsakelig fokusert på sosialtjenestene. I denne artikkelen undersøker vi om innbyggere i kommuner som har innført konkurranseutsetting, benchmarking og offentlig–privat samarbeid, er mer fornøyd med renovasjonstjenestene, og vi bruker muligheten til å sortere søppel for gjenvinning og innhenting av husholdningsavfall som mål på tilfredshet. Analysen er basert på flernivåanalyse, som gir oss muligheten til å avdekke sammenhenger både på individ- og kommunenivå, i tillegg til å gi oss en bedre forståelse av variasjonen i tilfredshet mellom kommunene. Resultatene viser at det er ingen statistisk signifikante forskjeller mellom kommunene som bruker markedselementer i renovasjonstjenestene, og de som ikke bruker det.

NGOs, as economic actors, are now passing a stage that could change their role in development for the long term. Developing NGOs are not only making peace with the market but are using its mechanisms to better tackle challenges such as poverty, inequality, democratic participation and bottom-up empowerment. Development projects are more sensible to the market needs and evolution while economic sustainability of their results is now a prerequisite. Furthermore, efficiency and accountability are criteria that appear in the majority of funding entities calls for projects, all of this putting a pressure on NGOs for changing their practices, their staff competences and their strategies. This evolution, perceived from the perspective of development economics theories, is contributing the confirmation of the "market solutions" approach, given by the neoliberal theories. However it is important to say that NGOs are making a selection of some large areas that can become a "refined" neoliberalism. [ABSTRACT FROM AUTHOR]

Major new multilateral environmental agreements (MEAs) have entered into force in 2016, including the Paris Agreement (PA) under the United Nations Framework Convention on Climate Change (UNFCCC) with nationally determined contributions (NDCs) for greenhouse gas (GHG) reduction, the Kigali Amendment (KA) to the Montreal Protocol with a phase-down schedule for HFC production and use in all countries as well as the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) under the International Civil Aviation Organization, an offset mechanism for GHG emissions. Regarding climate change mitigation, these MEAs are implicitly and explicitly linked to each other. However, the interaction effects between them have not yet been studied. We apply document analysis to assess the following question: how does the MEA interplay impact the scope and effectiveness of international market-based climate policy instruments defined in Article 6 of the PA (Paris Mechanisms) regarding NDC achievement? The Paris Mechanisms can generate early reductions in HFCs that lower the KA baseline and thus the entire phase-down schedule, thereby generating long-term GHG mitigation. Reduction in HFC-23—a large, controversial source of carbon credits under the Kyoto Protocol's Clean Development Mechanism (CDM)—is now mandated through the KA and thus no longer available for international market mechanisms. If it accepts CDM credits predating 2020, CORSIA will not generate demand for emission units generated by the Article 6 mechanisms and thus not impact their effectiveness. Otherwise, CORSIA demand for Article 6 credits enhances effectiveness, provided that 'double counting' of credits is prevented through corresponding adjustments. [ABSTRACT FROM AUTHOR]

If there is a duty of justice to contribute to society, which asks individuals to produce a specific amount of goods and services that can be redistributed, we need a decision-procedure to know when we have done our part. This paper analyses and critically assesses the commonly suggested decision-procedure of relying on market prices to measure the value of one's contribution. It is usually assumed that a high salary indicates that one's talents are put to good use, but this presupposes both that market prices of labour are correct reflections of supply and demand, and that market prices are correct reflections of social value. I criticise both assumptions and argue that the social value of a contribution cannot simply be a function of its market value, but is also influenced by the principles of justice that support the duty to contribute. Further, the market solution is incapable of valuing contributions that lack market prices, like non-marketised care labour. The market solution thus fails as a decision-procedure under other than special circumstances. This does not mean, however, that we need to give up the idea of a duty to contribute. [ABSTRACT FROM AUTHOR]

The article investigates certain aspects of the national higher education system of Russian Federation. Special attention is paid to the presence of formal and informal mechanisms that facilitate the capture of regulation and rent extraction by the existing actors. The article presents an analysis of possibilities of opportunistic behavior of the administration of a higher education organization. As a source of the rent there might be inappropriate use of the institutions facilitated by the various mechanisms. In this case this source can be warranted by the internal regulatory documents of the organizations, as well as the external legal statutes. The research also presents analysis of rent extraction sources and examples of the use of administrative resources. The article points out the negative trends and growth of opportunities of rent-seeking behavior of the actors of this market.

This article examines regulatory governance of the post-initial training market in The Netherlands. From an historical perspective on policy formation processes, it examines market formation in terms of social, economic, and cultural factors in the development of provision and demand for post-initial training; the roles of stakeholders in the longterm construction of regulatory governance of the market; regulation of and public providers; policy responses to market failure; and tripartite division of responsibilities between the state, social partners, commercial and publicly-funded providers. Historical description and analysis examine policy narratives of key stakeholders with reference to: a) influence of societal stakeholders on regulatory decision-making; b) state regulation of the post-initial training market; c) public intervention regulating the market to prevent market failure; d) market deregulation, competition, employability and individual responsibility; and, e) regulatory governance to prevent 'allocative failure' by the market in non-delivery of post-initial training to specific target groups, particularly the low-qualified. Dominant policy narratives have resulted in limited state regulation of the supply-side, a tripartite system of regulatory governance by the state, social partners and commercial providers as regulatory actors. Current policy discourses address interventions on the demand-side to redistribute structures of opportunity throughout the life courses of individuals. Further empirical research from a comparative historical perspective is required to deepen contemporary understandings of regulatory governance of markets and the commodification of adult learning in knowledge societies and information economies.

The increasing uptake of electric vehicles, and the established practice of long-term parking at stations and airports, offers an opportunity to develop a flexible approach to help with the energy storage dilemma. This paper investigates the feasibility of using a number of EV batteries as an energy storage and grid balancing solution within the UK Central Hub area. Here, the capital cost of the vehicle is a sunk cost to the EV owner. The potential income generated, or discount on long-term parking, is an additional benefit of ownership. This paper considers the income available to a small and large size car park from the different market mechanisms to offer grid support in the UK and contrasts this with the complexity and costs of the EV charging infrastructure required within these types of scheme.

Achieving net-zero emissions at the global level, as required to limit warming to 1.5 °C, means both rapid emissions reductions across all sectors as well as a scaling-up of carbon dioxide removal (CDR). As a growing number of countries bring forward national net-zero targets, the questions of how much CDR each nation holds responsibility for, whether CDR transfers should be possible under the Paris Agreement market mechanisms, and how this might affect the years in which different countries should achieve net-zero, become increasingly important. Here we show that, depending on the normative assumptions underlying a CDR burden-sharing system, the adjusted net-zero date for big emitting countries could shift forward by up to 15 years (EU, based on gross domestic product) to 35 years (Russia, based on cumulative per capita emissions) compared with what is modeled domestically in global least-cost scenarios. This illustrates a challenge of using least-cost model scenarios as a basis for setting and evaluating net-zero targets. We also evaluate the potential risk of carbon loss associated with CDR transfers of such a magnitude, and consider how a discount factor could help address carbon loss risks and contribute to overall mitigation. Our results highlight the need for clear guidelines to ensure that international CDR transfers do not obscure urgently-needed domestic emission reductions efforts by big emitters, while promoting a fair and equitable distribution of the CDR burden inflicted by insufficient near-term mitigation. We find a separate mechanism or accounting for CDR obligations to be the most promising avenue to deliver on these objectives.

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The increasing uptake of electric vehicles, and the established practice of long-term parking at stations and airports, offers an opportunity to develop a flexible approach to help with the energy storage dilemma. This paper investigates the feasibility of using a number of EV batteries as an energy storage and grid balancing solution within the UK Central Hub area. Here, the capital cost of the vehicle is a sunk cost to the EV owner. The potential income generated, or discount on long-term parking, is an additional benefit of ownership. This paper considers the income available to a small and large size car park from the different market mechanisms to offer grid support in the UK and contrasts this with the complexity and costs of the EV charging infrastructure required within these types of scheme. [ABSTRACT FROM AUTHOR]

The role of market mechanisms was far from certain in the lead up to the 2015 Paris Climate Conference. The use of 'constructive ambiguity' led to Article 6 of the Paris Agreement, with Article 6.2 specifying a mechanism with limited international oversight, and Article 6.4 establishing a 'Sustainable Development Mechanism' (SDM) subject to detailed rules. Clear operationalization of these mechanisms remains a challenge, especially regarding the critical accounting issue that could not be resolved at the 2018 Katowice Climate Conference (COP24) – how to apply corresponding adjustments, especially regarding sectors not covered by targets under nationally-determined contributions (NDCs). By using fictitious examples, we explain two possible approaches to using Internationally Transferred Mitigation Outcomes (ITMOs) under Article 6.2 for achieving NDCs: a 'target-based' one where the acquiring Party adds the ITMO amount to the target level of its NDC; and a 'tally-based' one where the acquiring Party removes the ITMO amount from the final tally of its NDC. We discuss how these approaches influence the way to make corresponding adjustments and to avoid 'double counting'. The first one leads to 'target/budget-based accounting', the second one to 'emission-based accounting'. For mitigation outside the scope of the host Party's NDC, we propose using a tally-based interpretation of ITMO use, as opposed to the target-based variety used in the 1997 Kyoto Protocol, and stress the need for additionality testing. This interpretation allows for mandatory corresponding adjustments for all ITMO usage, while the host Party NDC level remains unchanged. A buffer registry is created for corresponding non-NDC adjustments of the selling party. Key policy insights Under the Paris Agreement, transfers of emissions units between two countries through the Article 6 mechanisms need a corresponding adjustment on both sides to prevent double counting. Corresponding adjustments can be applied either to emissions targets under NDCs or measured emissions levels. The transfer of emissions reduction credits generated outside an NDC should lead to a corresponding adjustment of a buffer registry of the selling country, but not its emissions level/NDC target. Such credits should only be generated if additionality of the reductions is shown. [ABSTRACT FROM AUTHOR]

Generally speaking, markets serve as provisioning mechanisms, facilitating the supply of goods and services to customers. Extensive supply chains with specialist intermediaries create a flow of diverse items to consumers. However, market institutions can also serve as a de-provisioning technology, taking things away from customers. That is, markets can work in reverse. One example is the repossession of a vehicle. The process is often detrimental to low income and minority individuals. [ABSTRACT FROM AUTHOR]