While climate change is widely considered as a major challenge for societies, another pressing global environmental problem, i.e. the loss of biodiversity, is often given less attention despite its strong negative consequences for ecosystems and thus for human life. In light of the strong...

This work presents a modified version of the integrated economic-climate model RICECH₄. The aim of the work was to expand the basic RICE model by explicitly accounting for methane (CH₄) emissions along with traditional carbon dioxide (CO₂) emissions, as well as the subsequent analysis of...

The Paris Agreement is designed to increase climate ambition gradually through a process of ratcheting up. What is the plausible endpoint of this process? We develop a tractable integrated assessment model in which countries interact through a decentralized general equilibrium and negotiate...

Metal markets are an important but understudied aspect of the global energy transition. This paper demonstrates differential metal price responses to the Paris Agreement based on their role in the energy transition. We use a difference-in-differences design with daily price data from 2001 to...

We study how mandatory climate-related disclosure affects bank lending using the phased introduction of the EU Taxonomy Regulation. Exploiting the staggered development and implementation of the regulation, we distinguish banks’ responses to anticipated disclosure requirements from their...

Green finance is the basis for the development of sustain-able financing of environmental projects with the aim of respectingenvironmental and social aspects in making investment decisions.The development of green finance enables a green transition towardseconomic growth that will be sustainable...

The traditional image of Latin America as a troubled region seems to continue even after the Covid-19 crisis, this time in the wake of the war in Ukraine and the sanctions imposed by the West. Inflationary pressures, budget deficits and the danger that broad sections of the population will slip...

Climate policy in the European Union (EU) and Germany changed significantly with the adoption of net-zero emissions targets. A key new development is the growing importance of carbon management. The umbrella term includes not only the capture and storage of CO2 (carbon capture and storage, CCS),...

While climate change is widely considered as a major challenge for societies, another pressing global environmental problem, i.e. the loss of biodiversity, is often given less attention despite its strong negative consequences for ecosystems and thus for human life. In light of the strong...

This paper investigates how firms navigate the dual challenges of digitalisation and climate change. Our comprehensive approach considers climate change strategies, distinguishing adaptation-only, mitigation-only and 'dual' adaptation and mitigation strategies. Drawing on theoretical insights...

A central challenge in the global transition to cleaner energy is how governments can design policies that deliver large social benefits while facing trade-offs in energy security, fiscal costs, and household adoption frictions. We study this question in urban Nepal, where cooking is dominated...

Recognizing the global potential of the seaweed sector, the World Bank published the "Global Seaweed New and Emerging Markets Report 2023". Building on this foundation, this market study aims to provide valuable insights into Tanzania's seaweed sector and outline pathways for the country to...

This study examines volatility spillovers among climate-policy-relevant sectors in the Chinese stock market across both time and frequency domains. It further explores the impact of climate policy uncertainty on the risk spillover effect in the Chinese stock market and its underlying mechanisms....

Transport is the second-largest energy using sector in Vietnam and is projected to have the highest energy and emissions growth in future years. This paper explores options for decarbonising Vietnam's transport sector using a mixed-methods approach, including qualitative scenario design and...

Despite widespread concern about climate change, voluntary mitigation efforts often fail to maximize impact. In two online experiments (n = 1, 500), we elicit willingness to mitigate (WTM) by allowing subjects to delete actual CO2 allowances and examine how they allocate the WTM between their...

This study addresses the pressing challenge of transitioning to a low-carbon economy in BRICS nations by investigating the role of green finance policies in enhancing energy efficiency and driving sustainable economic growth. The primary objective is to evaluate the effectiveness of green credit...

This study investigates the nonlinear and regime-dependent relationship between climate policy uncertainty (CPU) and sovereign credit default swap (CDS) spreads across a panel of developed and emerging economies from February 2010 to March 2025. Utilizing the Quantile-on-Quantile Regression...

This paper examines the macroeconomic and distributional effects of the European Union's transition to Net Zero emissions through a gradually increasing carbon tax. I develop a New Keynesian Environmental DSGE model with two household types and distinct energy and non-energy sectors. Five...

Patterns of business opposition and support shape the pace and scope of environmental policy reforms. This article develops a theory of firm and business coalition position-taking that explains business unity and division over environmental policy. I argue that "coalition splintering"-divergent...

Global warming pressures legislators to alter climate policies to steer the world economy on a path with a net zero carbon footprint. This study examines the returns and volatility connectedness and the spillover of climate exchange-traded funds with climate policy uncertainty in the...

The financial sector holds major responsibility in climate mitigation, as the proliferation of environmental damage within the real economy largely stems from the negative externalities of the financial economy. Islamic banking, as a subset of the global financial market, is often adjudged as a...

This note examines the state of carbon farming (CF) policies in the European Union (EU), highlighting their potential to deliver significant public benefits, such as improved soil health, air quality, and climate mitigation. The existing mechanisms for encouraging carbon sequestration and...

Climate change mitigation increasingly relies on carbon pricing as a core policy tool. This study investigates the applicability of such mechanisms within the Russian context, given the country's heavy fossil fuel dependence and evolving energy landscape. A mixed-method approach is used,...

The focus of climate economics has traditionally been on CO2 as a negative externality. For decades, this has led policymakers to strongly focus on carbon pricing as the preferred climate policy instrument. But addressing the climate crisis differs fundamentally from a pollution problem. It...