 Subjects -> METEOROLOGY (Total: 106 journals)
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- BEFORE AND AFTER THE COPENHAGEN ACCORD — CHANGES IN THE CHARACTERISTICS
FOR ODA DONORS IN THE MITIGATION SECTOR-
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Authors: NORIKO NAKAUNE, MASAKO IKEGAMI, CHISA UMEMIYA, RYU KOIDE, TAKAKO WAKIYAMA
Abstract: Climate Change Economics, Ahead of Print.
This study analyzes the changes of correlation between donor characteristics and Official Development Assistance in the mitigation sector (mitigation ODA) before and after the 2009 Copenhagen Accord under the United Nations Framework Convention on Climate Change. The study used multiple regression analysis using panel data of 23 countries over 15 years. The results give evidence that compared with a donor country with the poorest commitment to climate change, donor countries with a stronger commitment to climate change provided a smaller share of mitigation ODA before 2009 and vice versa after that. Furthermore, donor countries with larger GDP per capita and fewer CO2 emissions per capita provided a larger share of mitigation ODA after 2010, compared to before. These findings indicate that the Accord may have induced donors with stronger commitments to climate change, larger GDP per capita, and fewer CO2 emission per capita to contribute a larger share of mitigation ODA.
Citation: Climate Change Economics
PubDate: 2023-04-29T07:00:00Z
DOI: 10.1142/S2010007823500161
- HOUSEHOLD-SPECIFIC SOCIAL NORMS, THE ELASTICITY OF ELECTRICITY DEMAND, AND
CARBON EMISSION REDUCTIONS IN THE RESIDENTIAL SECTOR: EVIDENCE FROM A
NATURAL EXPERIMENT IN RUSSIA-
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Authors: SALIM TURDALIEV
Abstract: Climate Change Economics, Ahead of Print.
In this paper, I estimate the price elasticity of residential electricity demand using household-level panel data for Russia. The study takes advantage of the variation in tariffs across regions and over time, as well as the introduction of increasing block rate (IBR) schemes in a number of regions. I show that in those regions consumers appear to be aware of the block cut-offs, even though the latter are based on the prescribed social norms and are household and dwelling specific, to the point that there are up to a total of 31 different tier cut-offs. Based on these results, I estimate the price elasticity of electricity demand to be around −0.1. I also predict the associated changes in electricity consumption, CO2 emissions, and revenues if similar IBR policies are implemented countrywide.
Citation: Climate Change Economics
PubDate: 2023-04-25T07:00:00Z
DOI: 10.1142/S2010007823500173
- CLIMATE SENSITIVITY OF ELECTRICITY CONSUMPTION AND PEAK DEMAND IN INDIA:
CASE OF HETEROGENEOUS CLIMATE ZONES-
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Authors: DIVYA JAIN, GOPAL K. SARANGI, SUKANYA DAS
Abstract: Climate Change Economics, Ahead of Print.
Electricity demand is determined largely by regional climate conditions and seasonal characteristics, apart from a myriad of socio-economic and demographic factors. This paper investigates the climate sensitivity of electricity consumption and peak demand in six energy-intensive Indian states across heterogeneous climate zones using a non-parametric approach known as multivariate adaptive regression splines. The results show the highest temperature sensitivity of cooling electricity consumption in Punjab (8.2%), followed by Rajasthan (3.5%), Madhya Pradesh (3.1%), Tamil Nadu (2.3%), and Uttar Pradesh (1.2%). Among other climate variables, relative humidity has a non-linear impact on electricity consumption in the majority of states. The minimum temperature rise has a stronger influence on peak electricity demand than the maximum temperature in three states. Given that air-conditioning penetration is expected to increase in the future, this state-level analysis will help in developing accurate forecasts for electricity demand and formulating climate adaptation strategies for India.
Citation: Climate Change Economics
PubDate: 2023-03-28T07:00:00Z
DOI: 10.1142/S2010007823500136
- TOO HOT FOR SUSTAINABLE DEVELOPMENT: CLIMATE CHANGE AND ENERGY EFFICIENCY
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Authors: GANG JIN, YUTING SUN
Abstract: Climate Change Economics, Ahead of Print.
Previous studies have focused on the benefits of adaptation in mitigating the negative effect of climate change on economic production, neglecting that adaptive energy input cannot be directly translated into output, which may be a barrier to sustainable development. Based on panel data from 280 cities in China from 2003 to 2016, we first calculate the energy efficiency as a proxy for sustainable development by using the nonradial directional distance function (NDDF) method. Second, we estimate energy efficiency as a function of temperature shocks, and we use these estimates to predict future potential impacts from climate change. We find three primary results: First, higher temperatures substantially reduce energy efficiency. Second, the heat effect on energy efficiency is homogenous across regions with different climates, suggesting that while adaptations in hot regions can mitigate the harmful effects of heat on output, this mitigation is completely offset by the concomitant increase in energy costs. Third, the energy efficiency would decrease by 2.82% in the medium term (2041–2060) and by 12.02% in the long term (2061–2080), under the assumption that carbon dioxide emissions continue to increase throughout the 21st century. These findings suggest that moderate adaptations to climate change are crucial for sustainable development.
Citation: Climate Change Economics
PubDate: 2023-03-28T07:00:00Z
DOI: 10.1142/S2010007823500148
- NATURAL DISASTERS AND DEBT FINANCING COSTS
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Authors: BORIS FISERA, ROMAN HORVATH, MARTIN MELECKY
Abstract: Climate Change Economics, Ahead of Print.
Using a comprehensive dataset of 272 large-scale natural disasters in 83 countries from 1986 to 2018, we find that disasters increase government debt financing costs (T-bill rates and 10-year government bond yields) but only in the middle- and low-income countries. This distinct response relative to high-income countries is due to lower levels of credit market depth, of private insurance penetration, and of central bank independence. The results for all natural disasters are driven by biological (epidemic) and climatological disasters — two types of hazards, the frequency and severity of which have been rising.
Citation: Climate Change Economics
PubDate: 2023-03-28T07:00:00Z
DOI: 10.1142/S201000782350015X
- DO CARBON TAXES KILL JOBS' FIRM-LEVEL EVIDENCE FROM BRITISH COLUMBIA
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Authors: DEVEN AZEVEDO, HENDRIK WOLFF, AKIO YAMAZAKI
Abstract: Climate Change Economics, Ahead of Print.
This paper investigates the employment impacts of British Columbia’s revenue neutral carbon tax. Using the synthetic control method with firm-level data, we find considerable heterogeneity in employment responses to the policy. We show that firm size matters. In particular, the carbon tax had a negative impact on large emission-intensive firms, but simultaneous tax cuts and transfers increased the purchasing power of low income households, substantially benefiting small businesses in the service sector and food/clothing manufacturing. Furthermore, we find that aggregate employment was not adversely affected by the policy. Our results provide additional insight for the “job-shifting hypothesis” of revenue neutral carbon taxes.
Citation: Climate Change Economics
PubDate: 2023-01-31T08:00:00Z
DOI: 10.1142/S2010007823500100
- HOW USING WEATHER AND CLIMATE INFORMATION SERVICES MAY IMPACT FARM
PRODUCTIVITY AND TECHNICAL EFFICIENCY: EVIDENCE FROM COWPEA AND SESAME
PRODUCERS IN BURKINA FASO-
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Authors: MATHIEU OUÉDRAOGO, SILAMANA BARRY, ROBERT B. ZOUGMORÉ
Abstract: Climate Change Economics, Ahead of Print.
Weather and climate information services (WCIS) are recognized as a powerful tool to support the management of climate risk in the context of climate variability. However, the picture of its value for agriculture is not yet well evaluated. This study used the Average Treatment Effect (ATE) framework to assess the impact of WCIS use on yield, income and technical efficiency of cowpea and sesame production in Burkina Faso. The study involved 170 farmers from 17 villages including 11 experimental villages exposed to WCIS and 6 control villages not exposed. The study found that farmers exposed to WCIS changed their crop management’s practices. A significant number of farmers used forecasts of the rainy season’ length and the onset date to choose which crop and variety to grow, which location and size of plots to crop. Daily forecast information was used for farm crop operations (choosing the date of land preparation, sowing, fertilizing, weeding, etc.), while the seasonal forecast was used for strategic decision (selection of crop and production site location). The use of farm inputs and labor requirements are different between climate-informed farmers and non-exposed farmers, the latter farmers tending to use more labor. The study showed that cowpea producers using WCIS obtained significantly higher yields (848[math]kg/ha on an average compared to 675[math]kg/ha for non-WCIS users); higher gross margin (34% higher than non-users). However, the impact of WCIS was not significant for sesame production. This may translate the strong linkage and dependence of the effectiveness of using WCIS with other factors than just climate variability, particularly the ability of the farmer to understand and apply relevant agro-met-advisories and crop–soil–water attributes.
Citation: Climate Change Economics
PubDate: 2023-01-30T08:00:00Z
DOI: 10.1142/S2010007823500112
- THE REGIONAL ECONOMIC IMPACTS OF CLIMATE CHANGE ON FAMILY FARMING AND
LARGE-SCALE AGRICULTURE IN BRAZIL: A COMPUTABLE GENERAL EQUILIBRIUM
APPROACH-
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Authors: TARIK MARQUES DO PRADO TANURE, EDSON PAULO DOMINGUES, ALINE DE SOUZA MAGALHÃES
Abstract: Climate Change Economics, Ahead of Print.
This paper analyzes the regional economic impacts of climate change (CC) on the agricultural productivity of crops linked to family farming and large-scale agriculture in Brazil. Variations in agricultural productivity estimated according to CC scenarios RCP 4.5 and RCP 8.5 [IPCC (). Climate Change 2014: Synthesis Report. Contribution of Working Groups I, II and III to the Fifth Assessment Report of the Intergovernmental Panel on Climate Change, Core Writing Team, RK Pachauri and LA Meyer (eds.), IPCC, Geneva, Switzerland, 151pp.], between 2021 and 2050, were used as inputs in the Computable General Equilibrium (CGE) model AGRO-BR to project the economic impacts of the phenomenon. The model presents regional configuration composed of the 27 Brazilian Federation Units and 42 agricultural sectors, disaggregated into family farming and large-scale agriculture sectors. The results indicate that the North and Northeast regions would be negatively affected, Midwest and Southeast would suffer moderate impacts, while the South region would benefit mostly. São Paulo, Paraná, and Rio Grande do Sul would show economic growth, softening the negative impacts on national GDP. Regional disparities and the deterioration of food security conditions could increase in Brazil.
Citation: Climate Change Economics
PubDate: 2023-01-13T08:00:00Z
DOI: 10.1142/S2010007823500124
- ACHIEVING EMPLOYMENT DIVIDEND IN THE POST-COVID-19 ERA: AN EXPLORATION
FROM CHINA’S CARBON MARKET-
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Authors: YISHUANG LIU, JINPENG HUANG, HANMIN DONG
Abstract: Climate Change Economics, Volume 14, Issue 01, February 2023.
Under the pressure of economic uncertainty and environmental protection in the post-COVID-19 era, achieving a new round of employment dividends has become one practical choice. Using the panel data of 30 Chinese provinces from 2007 to 2019, this study estimates the employment outcomes of carbon ETS pilots based on the difference-in-differences model. The findings of this study indicate the following: (1) Carbon ETS pilots can positively increase employment scales with an average effect of 7.12%. (2) This promoting effect will become more significant in provinces with high education levels, provinces with high average wages, and eastern region provinces. But there is no obvious difference between gender. (3) This positive effect can be transferred and enhanced by market competition and energy consumption. At the crossroads of green economic recovery, it will be greatly beneficial to formulate the national carbon market development roadmap under the carbon neutrality strategy.
Citation: Climate Change Economics
PubDate: 2022-09-19T07:00:00Z
DOI: 10.1142/S2010007823400018
Issue No: Vol. 14, No. 01 (2022)
- AMBIGUITY AVERSION AND INDIVIDUAL ADAPTATION TO CLIMATE CHANGE: EVIDENCE
FROM A FARMER SURVEY IN NORTHEASTERN THAILAND-
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Authors: NAGISA SHIIBA, HIDE-FUMI YOKOO, VORAVEE SAENGAVUT, SIRAPRAPA BUMRUNGKIT
Abstract: Climate Change Economics, Volume 14, Issue 01, February 2023.
Understanding the triggers of individual adaptation behavior is critical for empowering those who are highly vulnerable to climate change. This study explores the effect of ambiguity aversion on adaptation behaviors in the context of climate change. We conduct a field survey among 230 rice farmers in northeastern Thailand to examine the association between elicited ambiguity aversion and the implementation of climate change adaptation. We find that ambiguity aversion does not encourage farmers’ adaptation behaviors and can even discourage the uptake of adaptation strategies. The role of ambiguity aversion varies depending on the characteristics of the adaptation strategy: ambiguity-averse farmers are less likely to adopt adaptation strategies that entail shifts from the status-quo. A deliberate approach is needed to understand farmers’ adaptation behaviors outside the laboratory setting and to reduce ambiguity in the results concerning adaptation to increasing climate risk.
Citation: Climate Change Economics
PubDate: 2022-08-13T07:00:00Z
DOI: 10.1142/S2010007823500057
Issue No: Vol. 14, No. 01 (2022)
- AN ECONOMY-WIDE FRAMEWORK FOR ASSESSING THE STRANDED ASSETS OF ENERGY
PRODUCTION SECTOR UNDER CLIMATE POLICIES-
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Authors: YEN-HENG HENRY CHEN, ERIK LANDRY, JOHN M. REILLY
Abstract: Climate Change Economics, Volume 14, Issue 01, February 2023.
Climate change mitigation efforts, which require the transition away from carbon-intensive activities, can pose financial risks for owners of fossil fuel assets and investors that the finance companies are engaged in greenhouse gas-emitting activities. For instance, fossil fuel extraction may be significantly scaled-back, and coal-power plants may be idled or even phased out prematurely, thus becoming stranded assets for the shareholders. Using a global general equilibrium model with detailed energy sector and capital stock structures, we estimate the corresponding stranded assets under various emissions mitigation scenarios. Our findings reveal that, depending on the policy scenario, the global net present value of unrealized fossil fuel output through 2050 relative to a “no policy” scenario is between 21.5 and 30.6 trillion USD, and that of stranded assets in coal power generation is between 1.3 and 2.3 trillion USD. The analytical framework presented in our study complements existing research, in which macroeconomic variables required for estimating the stranded assets are often derived from models with more simplified assumptions. Therefore, individual firms and financial institutions can combine our economy-wide analysis with details on their own investment portfolios to determine their climate-related transition risk exposure.
Citation: Climate Change Economics
PubDate: 2022-07-28T07:00:00Z
DOI: 10.1142/S2010007823500033
Issue No: Vol. 14, No. 01 (2022)
- THE ROLE OF BATTERY ELECTRIC VEHICLES IN DEEP DECARBONIZATION
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Authors: SON H. KIM, STEPHANIE T. WALDHOFF, JAMES A. EDMONDS
Abstract: Climate Change Economics, Volume 14, Issue 01, February 2023.
The transportation sector is experiencing a period of unprecedented and disruptive change from the rapid improvement in the performance and cost of battery electric vehicles (BEVs). We quantify the carbon mitigation cost impact from transport electrification with BEVs under policies to limit the Earth surface temperature change to [math]C. Our results show that the reduction in carbon mitigation costs from transport electrification is as high as 40%. While BEVs without decarbonization policies merely shift the sources of emissions, aggressive BEV adoption with policies dramatically reduces the cost of addressing climate change because power sector decarbonization costs are capped by a broad range of emission-free power technologies. The decarbonization of electricity caps road transport decarbonization costs with BEVs. Without BEVs, transportation decarbonization costs escalate as the liquid fuel costs rise sharply with carbon penalties on fossil fuels and large-scale biofuels production. Electrification of transport with BEVs transforms a “problem” sector into a major part of the climate solution.
Citation: Climate Change Economics
PubDate: 2022-07-13T07:00:00Z
DOI: 10.1142/S2010007823500045
Issue No: Vol. 14, No. 01 (2022)
- ADAPTATION TO CLIMATE CHANGE IN ARID LANDS: EVIDENCE FROM PASTORAL AREAS
OF SENEGAL-
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Authors: BEYE ASSANE, DIOP WAOUNDÉ
Abstract: Climate Change Economics, Volume 14, Issue 01, February 2023.
This paper analyzes the determinants of adaptation options in pastoral drylands and investigates whether adaptation strategies can be used jointly. We assume that decisions can be made jointly as complements or substitutes and investigates whether herders in Senegal adapt to climate change by pursuing multiple strategies. We use a multinomial probit model with primary data collected from 410 herders of Senegalese drylands to identify adaptation determinants. Results show that 73.7% of the surveyed households rely on at least one adaptation strategy including storage of livestock feed, increased mobility, changes in water management, diversification of activities and changes in herd composition. Moreover, we notice that adaptation decisions of pastoral households can be taken jointly and those with mobility do not pursue other adaptation strategies, while those lacking mobility undertake multiple strategies. The diversity of factors explaining adaptation calls for targeted policies that promote adaptation strategies to strengthen the resilience of pastoralists.
Citation: Climate Change Economics
PubDate: 2022-06-25T07:00:00Z
DOI: 10.1142/S201000782350001X
Issue No: Vol. 14, No. 01 (2022)
- A POST-COVID-19 ECONOMIC ASSESSMENT OF THE CHILEAN NDC REVISION
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Authors: FRÉDÉRIC BABONNEAU, MARC VIELLE
Abstract: Climate Change Economics, Volume 14, Issue 01, February 2023.
Last year, Chile updated its Nationally Determined Contributions, moving from intensity-based emissions reductions to an effective emissions target. This paper aims to assess the economic and environmental impacts of this change in the current context of high uncertainty Chile faces with social protests and the COVID-19 pandemic. Using the computable general equilibrium model GEMINI-E3, we performed a sensitivity analysis assuming different levels of economic growth through 2030. Though at first glance the revised commitments appear more ambitious, we found that they could lead to higher emissions in low-growth scenarios. The results show that intensity-based emissions targets indeed become less stringent when assuming high levels of economic growth and thus may result in highly uncertain effective emissions in 2030. On the other hand, given the uncertainty surrounding Chilean economic growth, the updated commitments would be politically more amenable as it would lead to lower welfare losses. In addition, we analyze different redistribution schemes of a CO2 tax and we show that a per capita redistribution rule makes the CO2 tax more progressive and thus fiscally more acceptable.
Citation: Climate Change Economics
PubDate: 2022-06-15T07:00:00Z
DOI: 10.1142/S2010007823500021
Issue No: Vol. 14, No. 01 (2022)
- ERRATUM — ACHIEVING GREENHOUSE GAS MITIGATION THROUGH CLIMATE CHANGE
CONTROL WITH THE ROLE OF FINANCIAL DEVELOPMENT IN COVID-19 PERIOD-
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Authors: ZHEN LIU, JIALI TIAN, LEILING WANG, RUBAB GUL
Abstract: Climate Change Economics, Ahead of Print.
Citation: Climate Change Economics
PubDate: 2022-12-02T08:00:00Z
DOI: 10.1142/S201000782392001X
- A MODEL INTERCOMPARISON OF THE WELFARE EFFECTS OF REGIONAL COALITIONS FOR
AMBITIOUS CLIMATE MITIGATION TARGETS-
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Authors: GÖKÇE AKIN-OLÇUM, MADANMOHAN GHOSH, ELISABETH GILMORE, PETER JOHNSTON, MOHAMMAD M. KHABBAZAN, RUBEN LUBOWSKI, MARGARET MCCALLISTER, NICK MACALUSO, SONJA PETERSON, MALTE WINKLER, MAOSHENG DUAN, MENGYU LI, RAMIRO PARRADO, SEBASTIAN RAUSCH
Abstract: Climate Change Economics, Ahead of Print.
This paper presents the overall and distributional welfare effects of alternative multi-regional emissions trading coalitions relative to unilateral action. It focusses on meeting Paris Agreement pledges and more emissions reduction targets consistent with 2∘C and 1.5∘C temperature pathways in 2030. The results from seven computable general equilibrium (CGE) models are compared. Across all models, welfare gains are highest with a global market and increase with the stringency of targets. All regional coalitions also show overall welfare gains, although lower gains than the global market. The models show more variability in the gains by a participant. Depending on the model, participants may benefit more from some regional arrangements than from a global market or face modest losses compared to the domestic reductions alone, due to interactions between carbon targets and fossil fuel markets. The scenario with a joint China–European Union emissions trading system in all sectors is consistently favorable for participants and provides the highest economic gains per unit of emissions abated.
Citation: Climate Change Economics
PubDate: 2022-11-11T08:00:00Z
DOI: 10.1142/S2010007823500094
- EXPLORING CONSUMER PREFERENCES FOR NET-ZERO POLICIES: WILLINGNESS TO PAY
AMONG UK CITIZENS FOR NATIONAL GREENHOUSE GAS REDUCTION TARGETS UNDER
DIFFERENT FUTURE DISCOUNTING ASSUMPTIONS-
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Authors: RICKY N. LAWTON, DANIEL FUJIWARA
Abstract: Climate Change Economics, Ahead of Print.
Following the UK’s hosting of the United Nations Convention of the Parties Climate Summit in 2021, political targets for reducing greenhouse gas emissions — “Net-Zero” — have gained momentum. We address the gap in how public preferences are accounted for in climate decision-making by applying Contingent-Valuation techniques which ask people to state their Willingness-to-Pay (WTP) for the UK’s 2050 Net-Zero target. Mean WTP is £37.57/household to support Net-Zero (median £11.25), with a present-value of £2.3 billion across UK households. While younger people are more likely to experience the long-term impacts of climate change, older generations are willing to pay more to support it, suggesting that public support for Net-Zero is largely based on “nonuse” benefits, rather than direct “use” benefits to oneself. The COVID-19 epidemic affected WTP bids in a quarter of respondents. Finally, we explore how choice of positive or normative discount rate affects policy conclusions when monetizing consumer preferences.
Citation: Climate Change Economics
PubDate: 2022-10-17T07:00:00Z
DOI: 10.1142/S2010007823500070
- AN EXAMINATION OF MARKET REACTION WHEN NEGATIVE EMOTIONS RUN HIGH AMIDST A
TROPICAL CYCLONE-
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Authors: CHUN-I LEE, CHUEH-YUNG TSAO
Abstract: Climate Change Economics, Ahead of Print.
We find evidence of negative returns, greater volatility, higher turnover, and lower liquidity around a tropical cyclone. Before the land warnings are issued, there is significant under-reaction by investors. Throughout the storm, market volatility increases with negative returns. This leverage effect is similarly present in liquidity before and after the storm. The abnormal returns, volatility, and activities are not related to the characteristics of the storm and exist after the weather effect and various determinants have been accounted for. These findings strongly suggest that underlying all the negative market reaction is the prevalent emotional distress, anxiety, and fear among investors evoked by the destructive and deadly forces of the storm. These negative emotions presumably are stronger when faced with stronger storms and may be managed with better preparedness. This is indeed the case given that we find evidence of more significant market reaction to moderate and severe typhoons and in the early years than in recent years.
Citation: Climate Change Economics
PubDate: 2022-09-20T07:00:00Z
DOI: 10.1142/S2010007823500069
- CLIMATE CHANGE, ENERGY TRANSITION AND GLOBAL TEMPERATURE STABILIZATION
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Authors: ANELÍ BONGERS, MICHAEL A. TAMOR
Abstract: Climate Change Economics, Ahead of Print.
Climate science suggests that moving to a zero-carbon economy will not immediately halt the environmental and economic damage caused by anthropogenic greenhouse–gas (GHG) emissions. Whereas air temperature increase will (almost) stop when the CO2 concentration in the atmosphere is stabilized, ocean temperature will continue to increase for decades. In this paper, we introduce an environmental dynamic general equilibrium model with a natural transition from fossil to renewable fuels and then use that model to explore this temperature disconnect. We find that the transition to nonfossil energy is accelerated when damages due to persistent ocean temperature rise are taken into account. Sensitivity analysis reveals that (i) economic growth increases energy consumption but accelerates the transition; (ii) energy-augmented technological change does not accelerate the transition; (iii) emissions efficiency technological change has perversely harmful effects on the energy transition; and (iv) the elasticity of substitution between dirty and clean energy sources and the discount factor are key in determining optimal energy transition path.
Citation: Climate Change Economics
PubDate: 2022-09-01T07:00:00Z
DOI: 10.1142/S2010007823500082
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