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Energy economics and policy are at the heart of current debates regarding climate change and the switch from fossil fuels to renewable forms of energy. They are also crucial in dealing with energy supply and security issues caused by global shocks such as the war in Ukraine. An Introduction to Energy Economics and Policy outlines pressing issues concerning current global energy systems, particularly energy production and use. It presents economic frameworks for valuating policy goals and for understanding the major energy and climate challenges faced by industrialized and developing countries. Integrating insights from behavioural economics into the standard neoclassical approach, particularly the role of behavioural anomalies, this book offers a novel introduction to energy economics and policy and provides a fresh perspective on real-world issues in energy and climate. This title is also available as open access on Cambridge Core.
Decarbonisation is the reduction of carbon dioxide emissions using low carbon power sources, lowering output of greenhouse gasses into the atmosphere. This is essential to meet global temperature standards set by international climate agreements. To limit global warming to 1.5°C, hence avoiding the worst-case scenarios predicted by climate science, the world economy must rapidly reduce its emissions and reach climate neutrality within the next three decades. This will not be an easy journey. Shifting away from carbon-intensive production will require a historic transformation of the structure of our economies. Written by a team of academics linked to the European think tank Bruegel, The Macroeconomics of Decarbonisation provides a guide to the macroeconomic fundamentals of decarbonisation. It identifies the major economic transformations, both over the long- and short-run, and the roadblocks requiring policy intervention. It proposes a macroeconomic policy agenda for decarbonisation to achieve the climate goals of the international community.
This book provides new insights into the opportunities, risks, and unintended consequences for the American economy, legacy industries, global multinational corporations, and financial institutions having pledged to transition to a net-zero carbon economy. It places specific emphasis on 'systems analysis', as well as the unprecedented pace needed for our sustainability transition. It examines the implications of organizations purchasing voluntary carbon credits which are not regulated, insured, and often not scientifically validated. It scrutinises how financial markets are driving corporate sustainability while at the same time conservative policymakers seek to ban Environmental Social Governance investments. Golden discusses national security as well as the growing rural-urban divide, seemingly widened by major automotive manufacturers looking to move towards zero-emission electric vehicles. Using empirical evidence to chart the effect of our sustainability transition on the government, the military, and corporations, this book is an invaluable resource for researchers, graduate students, policymakers, and industry professionals.
Interest in issues surrounding sustainable production-consumption systems and alternatives to fossil fuels is booming. The circular bioeconomy is currently mainstreamed in policy-making, industry and academia as an important part of the solution to the climate crisis and towards the creation of more sustainable economies. Based on the University-level teaching and research experience of the four authors in Italy, Finland, and France, this textbook fills an important gap in the literature by providing an in-depth and unique guide to the circular bioeconomy. The chapters critically discuss the potential contribution of a circular bioeconomy to fostering societal and organizational transformations towards sustainability globally. This timely book joins a suite of important new titles on sustainability, environmental and ecological economics.
What would a sustainable economy look like? What would it take to live within our environmental means? Legacy answers these and other questions, setting out the key features of the sustainable economy. It explains what it would take to properly maintain different types of capital, why polluters would have to pay, why the current generation would have to fund the necessary maintenance of our natural assets, and why we would have to save to invest. The message is a tough one: we are way off course in terms of meeting these conditions and we cannot escape the consequences. This book explains what we would have to do to mend our ways. In doing so, it highlights the feebleness of current approaches to net zero and biodiversity loss as well as our great neglect of the core infrastructures, and why we are not meeting our duties to the next generation. This title is Open Access.
People are not autonomous individuals but connected beings. Curae ergo sum – we care, therefore we are. Relationality – which refers to the ethic and manner by which relational considerations govern decisions and institutional arrangements can take advantage of the power of connection – uncovers how social connection, across divides, moves people to act for the other. Drawing from research on empathy, social networks, and determinants of pro-social behavior, Caring, Empathy, and the Commons builds on Ostrom's Governing the Commons. It offers a different mechanism by which collective action is induced, arguing that, sometimes, the individual thinks not in terms of individual gain but in terms of the other. Developing this concept of relationality, this book explores various strands of literature and examines how this idea might be used to foster collective action around climate, species protection, fair trade, and other dilemmas of the commons.
Do you want to help save human civilisation? If so, this book is for you. How to Fix a Broken Planet describes the ten catastrophic risks that menace human civilisation and our planet, and what we can all do to overcome or mitigate them. It explains what must be done globally to avert each megathreat, and what each of us can do in our own lives to help preserve a habitable world. It offers the first truly integrated world plan-of-action for a more sustainable human society - and fresh hope. A must-read for anyone seeking sound practical advice on what citizens, governments, companies, and community groups can do to safeguard our future.
For decades, a post-Cold War narrative heralded a 'new Arctic', with melting ice and snow and accessible resources that would build sustainable communities. Today, large parts of the Arctic are still trapped in the path dependencies of past resource extraction. At the same time, the impetus for green transitions and a 'new industrialism' spell opportunities to shift the development model and build new futures for Arctic residents and Indigenous peoples. This book examines the growing Arctic resource dilemma. It explores the 'new extractivist paradigm' that posits transitioning the region's long-standing role of delivering minerals, fossil energy, and marine resources to one providing rare earth elements, renewable power, wilderness tourism, and scientific knowledge about climate change. With chapters from a global, interdisciplinary team of researchers, new opportunities and their implications for Arctic communities and landscapes are discussed, alongside the pressures and uncertainties in a region under geopolitical and environmental stress.
This century's major disasters from Hurricane Katrina and the Fukushima nuclear meltdown to devastating Nepalese earthquakes and the recent crippling volcanic eruptions and tsunamis in Tonga have repeatedly taught that government institutions are ill-prepared for major disaster events, leaving the most vulnerable among us unprotected. These tragedies represent just the beginning of a new era of disaster – an era of floods, heatwaves, droughts, and pandemics fueled by climate change. Laws and government institutions have struggled to adapt to the scope of the challenge; old models of risk no longer apply. This Handbook provides timely guidance, taking stock of the field of disaster law and policy as it has developed since Hurricane Katrina. Experts from a wide range of academic and practical backgrounds address the root causes of disaster vulnerability and offer solutions to build more resilient communities to ensure that no one is left behind.
The Sustainable Development Report 2022 features the SDG Index and Dashboards, the first and widely used tool to assess country performance on the Agenda 2030 and the Sustainable Development Goals. In a context of multiple crises, the report analyzes and outlines how the SDGs can be used as a roadmap for more sustainable societies by 2030 and beyond. In particular, this year's edition underlines the importance of international financing mechanisms for addressing lack of fiscal space in poorer countries and promoting sustainable investments into physical and human infrastructure. The authors examine country performance on the SDGs for 193 countries using a wide array of indicators, and calculate future trajectories, presenting a number of best practices to achieve the historic Agenda 2030. The views expressed in this report do not reflect the views of any organization, agency or program of the United Nations. This title is available as Open Access on Cambridge Core.
Climate change is a matter of extreme urgency. Integrating science and economics, this book demonstrates the need for measures to put a strict lid on cumulative carbon emissions and shows how to implement them. Using the carbon budget framework, it reveals the shortcomings of current policies and the debates around them, such as the popular enthusiasm for individual solutions and the fruitless search for 'optimal' regulation by economists and other specialists. On the political front, it explains why business opposition to the policies we need goes well beyond the fossil fuel industry, requiring a more radical rebalancing of power. This wide-ranging study goes against the most prevalent approaches in mainstream economics, which argue that we can tackle climate change while causing minimal disruption to the global economy. The author argues that this view is not only impossible, but also dangerously complacent.
A few ASEAN countries have signed the Global Methane Pledge, but methane should receive a broader and higher priority from the entire region, given its significant contribution to climate change, and the availability of solutions. The agriculture sector contributes the most amount of methane emissions with a steadily rising share over the past decade. Several Southeast Asian countries face similar methane abatement challenges (i.e., agricultural productivity in Vietnam, Thailand, Myanmar and the Philippines; gas leakage in Malaysia and Brunei; and waste management in Indonesia, Malaysia and Singapore), warranting closer collaboration at the subregional level. While it is true that countries have been participating in international initiatives and implementing national policies related to rice cultivation and oil and gas processing, their impacts have not been thoroughly evaluated. Rather than creating new institutional structures, ASEAN could for example ensure that its existing working groups and networks prioritize methane abatement. Missing data on the relative contribution to methane emissions from livestock, rice paddies and informal economies should be collected to help refine problem definition and formulate effective solutions.
This book is intended for researchers, policymakers, and practitioners interested in the dynamics and governance of low-carbon transitions. Drawing on the Multi-Level Perspective, it develops a whole system reconfiguration approach that explains how the incorporation of multiple innovations can cumulatively reconfigure existing systems. The book focuses on UK electricity, heat, and mobility systems, and it systematically analyses interactions between radical niche-innovations and existing (sub)systems across techno-economic, policy, and actor dimensions in the past three decades. Comparative analysis explains why the unfolding low-carbon transitions in these three systems vary in speed, scope, and depth. It evaluates to what degree these transitions qualify as Great Reconfigurations and assesses the future potential for, and barriers to, deeper low-carbon system transitions. Generalising across these systems, broader lessons are developed about the roles of incumbent firms, governance and politics, user engagement, wider public, and civil society organisations. This title is also available as Open Access on Cambridge Core.
What exactly is resilience and how can it be enhanced? Farming systems in Europe are rapidly evolving while at the same time being under threat, as seen by the disappearance of dozens of farms every day. Farming systems must become more resilient in response to growing economic, environmental, institutional, and social challenges facing Europe's agriculture. Since the COVID-19 pandemic, the need for enhanced resilience has become even more apparent and continues to be an overarching guiding principle of EU policy making. Resilience challenges and strategies are framed within four main processes affecting decision making in agriculture: risk management, farm demographics, governance and agricultural practices. This empirical focus looks at very diverse contexts, with eleven case studies from Belgium, Bulgaria, France, Germany, Great Britain, Italy, Netherlands, Poland, Romania, Spain and Sweden. This study will help determine the future and sustainability of European farming systems. This title is available as Open Access on Cambridge Core.
In a world of growing environmental risks and ecological scarcities, ensuring a safe Anthropocene for humankind is essential. Managing an increasingly "fragile" planet requires new thinking on markets, institutions and governance built on five principles: ending the underpricing of nature, fostering collective action, accepting absolute limits, attaining sustainability, and promoting inclusivity. Rethinking economics and policies in this way can help to overcome the global challenges posed by climate change, biodiversity loss, freshwater scarcity, and deteriorating marine and coastal habitats. It requires decoupling wealth creation from environmental degradation through business, policy and financial actions aimed at better stewardship of the biosphere. In this book, renowned environmental economist Edward Barbier offers a blueprint for a greener and more inclusive economy, and outlines the steps we must take now to build a post-COVID world that limits environmental threats while sustaining per capita welfare.
Initially created as afterthoughts to competitive electricity markets, capacity markets were intended to enhance system reliability. They have evolved into massive, highly controversial, and poorly understood billion-dollar institutions. Electricity Capacity Markets examines the rationales for creating capacity markets, how capacity markets work, and how well these markets are meeting their objectives. This book will appeal to energy experts and non-experts alike, across a range of disciplines, including economics, business, engineering, public policy, and law. Capacity markets are an important and provocative topic on their own, but they also offer an interesting case study of how well our energy systems are meeting the needs of our increasingly complex society. The challenges facing capacity markets – harnessing market forces for social good, creating networks that manage complexity, and achieving sustainability – are very much core challenges for our twenty-first century advanced industrial society.
Reaching net zero emissions will not be the end of the climate struggle, but only the end of the beginning. For centuries thereafter, temperatures will remain elevated; climate damages will continue to accrue and sea levels will continue to rise. Even the urgent and utterly essential task of reaching net zero cannot be achieved rapidly by emissions reductions alone. To hasten net zero and minimize climate damages thereafter, we will also need massive carbon removal and storage. We may even need to reduce incoming solar radiation in order to lower unacceptably high temperatures. Such unproven and potentially risky climate interventions raise mind-blowing questions of governance and ethics. Pandora's Toolbox offers readers an accessible and authoritative introduction to both the hopes and hazards of some of humanity's most controversial technologies, which may nevertheless provide the key to saving our world.
How can America get back to an energy transition that's good for the economy and the environment? That's the question at the heart of this eye-opening and richly informative dissection of the Trump administration's energy policy. The policy was ardently pro-fossil fuel and ferociously anti-regulation, implemented by manipulating science and economic analysis, putting oil and gas insiders at the helm of environmental agencies, and hacking away at democratic norms that once enjoyed bipartisan support. The impacts on the nation's health, economy, and environment were - as this book carefully demonstrates - dire. But the damage can be reversed. Ordinary Americans, civil society groups, environmental professionals, and politicians at every level all have parts to play in making sure the needed energy transition leaves no one behind. This compelling book will appeal to course instructors and students, government and industry officials, activists and journalists, and everyone concerned about the nation's future.
Common Pool Resources include, for instance, fishing grounds, irrigation systems, forests and the atmosphere. Now more than ever, how we responsibly share and use those goods is a vital issue. This textbook introduces students of economics, business and policy studies to the key issues in the field. It uses a game-theory approach to help readers understand the mathematical representation of how to find equilibrium behavior in CPRs, how to identify the socially optimal appropriation, and how to measure the inefficiencies that arise. Algebra and calculus steps are clearly explained, so students can more easily reproduce the analysis and apply it in their own research. Finally, the book also summarizes experimental studies that tested theoretical results in controlled environments, introducing readers to a literature that has expanded over the last decades, and provides references for further reading.