This study explores the pivotal role of theories of economics in shaping the multifaceted concept of sustainable development and integrates economic, social, and environmental dimensions. It traces the intellectual trajectory of classical, neoclassical, and contemporary economic paradigms,...

Coal is declining in the U.S. as part of the clean energy transition, resulting in remarkable air pollution benefits for the American public and significant costs for the industry. Using the AP3 integrated assessment model, we estimate that fewer emissions of sulfur dioxide, nitrogen oxides, and...

Addressing climate change requires policies that are ethically defensible, politically acceptable, and implementable. The concept of a "just transition" - a decarbonization process that avoids leaving workers and communities behind and mitigates burdens on vulnerable and historically...

We build a signaling game model of a firm's decision to acquire a costly green label which enables it to emit a green bond. A greenium may compensate it for the incurred cost. That cost is higher for non-green firms. With an investor that prefers a clean environment and dislikes being fooled...

Adaptation needs are vast, rising fast and difficult to determine in their entirety, especially with uncertain adverse scenarios due to climate inertia and implementation lags. Adaptation is hindered by a lack of a unified understanding of what it necessitates; the challenge in pointing out its...

This paper investigates the determinants of the probability that a central bank chooses to make its financial sector green. We derive a mixedstrategy Nash equilibrium from a strategic setting of two monetary authorities choosing simultaneously between the alternatives of greening and conducting...

This paper analyzes the causal effect of exposure to uncensored environmental reporting on individuals' environmental preferences and pro-environmental behavior. We exploit a natural experiment occurring in the German Democratic Republic, where geographic characteristics determined access to...

This study investigates the relationship between green finance and environmental sustainability, with particular attention towards how these dynamics foster green economic growth within BRICS economies. Using a balanced panel dataset spanning 25 years, the research employs the Method of Moments...

The Vjosa River Basin, located in the heart of the Balkans, is one of Europe's last free-flowing wild rivers comprising a large number of pristine habitat types with a wealth of biodiversity. Widespread degradation of the forest ecosystem and unsustainable land use due to logging and livestock...

This paper has explored heterogeneous individual valuations of an important amenity, climate mildness, using a traditional Rosen-Roback empirical framework. It does so by including interaction terms between the amenity and worker characteristics in an hedonic wage regression that also include a...

We develop a unified cost-benefit framework that allows for a better understanding of nature conservation and climate policies under risk and uncertainty. We derive modified Hotelling rules from a social planner’s welfare optimization. They reveal four forces that jointly determine market...

Part I. Principles And Concepts Of Climate Change Management -- Chapter 1. Introduction: An overview of climate change management and financing in Africa -- Chapter 2. The Magnitude, Pattern, and Implication of Climate Change in Africa: A Review of the Evidence -- Chapter 3. Assessing...

Part I: Introductory Essay -- The Pitfalls of Green Deals: Introduction and Synthesis -- Part II: Theoretical Perspectives Green Deals around the World -- The Incoherence of Modest Industrial Policy -- Raiders of the Entrepreneurial State: A Baptist and Bootlegger Analysis -- Behavioral...

Why does animal welfare matter? For some, it is because people care about animals; for others, it is because animals themselves are morally relevant. Given the importance of welfare in economics research and the debates around climate change and biodiversity loss, more economists are becoming...

Although the spatial dimension is embedded in most issues studied by environmental and resource economics, its incorporation into economic models is not widespread. As a result, significant aspects of important problems remain hidden, which could lead to policy failures. This Element fills this...

Climate change and its mitigation have emerged as one of the most critical challenges facing our societies. This book provides a comprehensive foundation for understanding the economic and financial dimensions of climate change. It is an accessible entry point for anyone eager to grasp this...

The interrelationship between economic growth, efficient use of natural resources, and sustainability has been of great interest to economists, researchers and policy makers. Knowledge of actual causality direction between sustainability, efficiency and growth has important implications for...

Climate change stands as one of the most formidable challenges in the twenty-first century. Despite this, our understanding of the unfolding and interconnection of climate-related physical and transitional risks, and their implications for socioeconomic dynamics along various transition...

This report aims to highlight opportunities for developing ecosystem-linked insurance - that is, insurance that integrates the effect of ecosystems in products covering coastal hazards. These products can provide funds for ecosystem restoration after a disaster occurs. This report points to...

The Blue Solutions for Africa series of operational briefs captures how a thriving Blue Economy can help African countries better manage the development challenges they face while supporting economic growth, sustainable livelihoods, and the health of these precious ecosystems

Within a two-country model, this paper identifies a novel emission leakage channel that is caused by moral behavior of (atomistic) consumers. In a non-cooperative emission tax game between the countries, the leakage effect lowers the governments’ marginal benefit of emission taxation, so...

Consumers increasingly care about the environmental quality of the goods they consume. However, limited attention impairs consumers' ability to compare and evaluate the environmental quality of goods. I show that investments in environmental quality, consumer surplus, producer surplus, and...

Voluntary sustainability standards (VSS) have gained prominence in the agri-food sector as marketbased tools to address environmental and social concerns in global supply chains. While third-party certifications like Rainforest Alliance and Fairtrade have been extensively studied, company-led...