In this paper we investigate optimal harvesting of a renewable natural resource. While in the standard approach the resource is located at a single point in space we allow for the resource to be distributed over the plane. Consequently, an agent who exploits the resource has to travel from one...

International climate protection investments (Joint Implementation and Clean Development Mechanism projects) are burdened with problems of contract enforcement, which prevent the realisation of efficiency gains associated with these investments. The paper analyses this problem from the...

We develop a multiple-firm model of an industry's voluntary adoption of environmental protection measures to achieve a predetermined industry-wide emissions reduction target under an explicit threat of imposition of an emissions tax. We examine the free-riding incentive of individual firms and...

This paper analyses the conditions under which a group of firms has the incentive to sign a Voluntary Agreement (VA) in order to control its emission flows even in the presence of free-riding by other firms in the industry. For the purpose of this paper it is assumed that free-riders cannot be...

Many European politicians argue that since technological development is needed to solve the climate problem, the EU should take the lead and set tougher emission targets than what is required by the Kyoto protocol. Moreover, emission trading with other countries outside EU should be limited so...

According to the official document of Romania's energy policy for the period 2020-2030, with a view to 2050, the main objective of the strategy is to increase the energy sector in conditions of sustainability by setting targets for reducing greenhouse gas emissions and promoting renewable...

We examine the impact of a disclosure mandate for greenhouse gas emissions on firms’ subsequent emission levels and financial operating performance. For UK-incorporated listed firms a carbon disclosure mandate was adopted in 2013. Our difference-in-differences design shows that firms affected...

The building and construction sectors contribute about 38% of the greenhouse gas (GHG) emissions and account for 35% of the total energy consumption. With the growing population (especially in developing Asia) and increasing income, the demand for construction and building will continue to rise,...

Exclusion zones, like protected areas or setback distances, are the most common policy instrument to mitigate environmental impacts of human land-use, including the deployment of renewable energy sources. While exclusion zones may provide environmental benefits, they may also bring about...

User rights in fisheries refer to the rights of fishers to harvest from fish resources. In terms of security, exclusivity, duration, and transferability these rights can be strong or weak. In recent years there has been a substantial movement toward stronger user rights in many fisheries around...