We explore the history and current status of green energy finance in Australia and New Zealand. Although both countries have enviable renewable energy resources with a 100% renewable mix considered feasible, the two countries present highly contrasting contexts for energy finance. Currently, and...

Globally as well as in China, cities have contributed to most of the economic output and have accordingly given rise to most CO2 emissions. In particular, given unprecedented urbanization, cities will play an even greater role in shaping energy demand and CO2 emissions. Therefore, cities are the...

Emission allowances are often distributed for free in an early phase of a cap-and-trade scheme (grandfathering) to reduce adverse effects on the profitability of firms. If the grandfathering scheme is phased out over time, firms may nevertheless relocate to countries with a lower carbon price...

The present paper investigates the functioning of an Emission Trading System (ETS) and its impact on the diffusion of environmental-friendly technological innovation in the presence of firms' strategic behaviours and sanctions to non-compliant firms. For this purpose, we study an evolutionary...

This paper uses an integrated assessment model to quantify the climate R&D investment strategy for a variety of scenarios fully consistent with 2°C. We estimate the total climate R&D investment needs in approximately 1 USD Trillion cumulatively in the period 2010-2030, and 1.6 USD Trillions in...

There is a large number of regional agreements concerning Greenhouse Gas (GHG) emissions, often linked to other regional integration agreements. The most successful one in making effort in reducing carbon emissions is the Emission Trading System by the European Union (EU ETS). Apart from this...

In a model where firms face a continuous choice of how much to invest in environmental innovation, we show that an ever stricter environmental policy does not always lead to ever cleaner production methods and ever lower production of polluting goods. It does so when the abatement technology is...

We develop a theoretical model of directed technical change in which clean (zero emissions) and dirty (emissions-intensive) technologies are embodied in long-lived capital. We show how obsolescence costs generated by technological embodiment create inertia in a transition to clean growth....

Myriad policy measures aim to reduce greenhouse gas emissions from the electricity sector, promote generation from renewable sources, and encourage energy conservation. To what extent do innovation and energy efficiency (EE) market failures justify additional interventions when a carbon price is...

Computable general equilibrium (CGE) models are widely used to analyse macroeconomic and sectoral effects of climate policies. Developing new and improving existing carbon-free energy technologies will be crucial to limit the long-term economic costs of mitigation policies. Such technologies are...