Found 17 article(s) for author 'Climate Change'

3 Ways Investors Can Pressure Companies to Take Sustainability Seriously

3 Ways Investors Can Pressure Companies to Take Sustainability Seriously. George Serafeim, June 23, 2019, Paper, “Climate change and other environmental, social, and governance (ESG) issues are not political or partisan topics, and not limited to niche investors. Measuring and analyzing ESG information is becoming an important activity for any investor who seeks to optimize risk and return —a growing body of evidence shows that companies with strong ESG policies produce better financial results. Academic research analyzing 2,000 U.S. companies from 1993 to 2014 shows higher profit margins and superior risk-adjusted returns for those that made significant ESG investments to improve their performance on industry-specific material ESG…Link

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For International Cap-and-Trade in Carbon Permits, Price Stabilization Introduces Secondary Free-Rider-Type Problems

For International Cap-and-Trade in Carbon Permits, Price Stabilization Introduces Secondary Free-Rider-Type Problems. Martin Weitzman, June 7, 2019, Paper, “In this brief note (Without holding them responsible for errors, omissions, or interpretations, I am grateful for constructive comments on an earlier version of this note by Joseph Aldy, Severin Borenstein, Maureen Cropper, Carolyn Fischer, Meredith Fowlie, Lawrence Goulder, Geoffrey Heal, N. Gregory Mankiw, Michael Mehling, Gilbert Metcalf, Adele Morris, Ian Parry, William Pizer, Simon Quemin, Andrew Schein, Richard Schmalensee, E. Somanathan, Robert Stavins, David Victor, and Gernot Wagner.), I take the initial allocation of carbon emissions as a prototype international public goods problem. Overcoming the free-rider problem in carbon emissions is central to a successful comprehensive international climate-change agreement. Volunteerism alone may go part way, but is unlikely to fully adequately overcome this free-rider problem. (The numerical values of the pledged “Nationally Determined Contributions” under the Paris Agreement are voluntary, although the Paris Agreement itself may help constructively by laying a legal foundation for participation, reporting, verification, transparency, and trust.)Link

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International Commitments and Domestic Opinion: The Effect of the Paris Agreement on Public Support for Policies to Address Climate Change

International Commitments and Domestic Opinion: The Effect of the Paris Agreement on Public Support for Policies to Address Climate Change. Dustin Tingley, January 2019, Paper, “The Paris Agreement marked a new turn in international environmental agreements, by allowing each country to set its own non-binding goals for emissions reductions. How might purely voluntary international commitments affect domestic support for costly policies to address climate change? We investigated this question by administering survey experiments in the U.S. Our experiments supported three conclusions. First, even voluntary international commitments transformed public opinion. Public support emissions control policies was much higher in scenarios where the U.S. government had joined the Paris Agreement than in scenarios where it had not. Second, voluntary commitments were most consequential in boosting support for policies that imposed intermediate costs on the public, while having smaller effects on policies involving low or high costs. Finally, our experiments exposed the dangers of promising too much (overpledging) or too little (underpledging). These findings have important implications for the design and consequences of international agreements.Link

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Linking climate policies to advance global mitigation

Linking climate policies to advance global mitigation. Robert Stavins, March 2, 2018, Paper, “The November 2017 negotiations in Bonn, Germany, under the auspices of the United Nations Framework Convention on Climate Change (UNFCCC) validated that the Paris Agreement has met one of two necessary conditions for success. By achieving broad participation, including 195 countries, accounting for 99% of global greenhouse gas (GHG) emissions (1), the agreement dramatically improves on the 14% of global emissions associated with countries acting under the Kyoto Protocol (2), the international agreement it will replace in 2020.Link

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Just transitions: A humble approach to global energy futures

Just transitions: A humble approach to global energy futures. Sheila Jasanoff, November 2, 2017, Paper, “Persistent mismatches between problems, policy framings, and solutions point to unsettled ethical conundrums in the ways that the energy transition is being imagined at the centers of global power. First, development is too often seen as the means to achieve more sustainable futures, even though experience points to complex and uncertain relationships between prosperity and sustainability. Second, while technological change is seen as essential to the transition, less attention is paid to the fact that disparities within societies demand differentiated solutions. Third, there are few principles in place for how to effect an energy transition with due attention to social justice in an unequal world. This article reflects on all three points.Link

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Lessons Learned from Cap-and-Trade Experience

Lessons Learned from Cap-and-Trade Experience. Robert Stavins, 2017, Paper, “Article 6 of the Paris Agreement provides for cooperation among Parties to meet their collective GHG emissions-reduction targets, including through linkage. The simplest way for this to occur is by linking cap-and-trade systems, although linkage of heterogeneous policies, including carbon taxes and performance standards, is also possible in principle.1 Linkages between well-designed national (or subnational) cap-and-trade systems can lower global mitigation costs and improve the functioning of national markets.Link

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The Political Economy of Carbon Pricing Policy Design

The Political Economy of Carbon Pricing Policy Design. Joseph Aldy, October 2017, Paper, “The goal of the Harvard Project on Climate Agreements, which was established in 2007, is to identify and advance scientifically sound, economically sensible, and politically pragmatic public policy options for addressing global climate change. Drawing upon leading thinkers from around the world, the Project conducts research on policy architecture, key design elements, and institutional dimensions of international and domestic climate-change policy. The Project is directed by Robert N. Stavins, A. J. Meyer Professor of Energy and Economic Development, Harvard Kennedy School. For more information, see the Project’s website…Link

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Virtual, Visible, and Actionable: Data assemblages and the sightlines of justice

Virtual, Visible, and Actionable: Data assemblages and the sightlines of justice. Sheila Jasanoff, August 16, 2017, Paper, “This paper explores the politics of representing events in the world in the form of data points, data sets, or data associations. Data collection involves an act of seeing and recording something that was previously hidden and possibly unnamed. The incidences included in a data set are not random or unrelated but stand for coherent, classifiable phenomena in the world. Moreover, for data to have an impact on law and policy, such information must be seen as actionable, that is, the aggregated data must show people both something they can perceive and something that demands interrogation, explanation, or resolution. Actionable data problematize the taken-for-granted order of society by pointing to questions or imbalances that can be corrected or rectified, or simply better understood, through systematic compilations of occurrences, frequencies, distributions, or correlations.Link

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The Economics (and Politics) of Trump’s Paris Withdrawal

The Economics (and Politics) of Trump’s Paris Withdrawal. Robert Stavins, June 6, 2017, Opinion, “The announcement on June 1 by President Donald Trump that he will withdraw the United States from the Paris climate agreement was misguided, and the justifications Trump provided were — at best — misleading and, to some degree, simply untruthful. Withdrawing from the Paris agreement will be damaging both to the United States and the world. Sadly, Trump’s withdrawal announcement makes clear that the president has little understanding of the nature of the agreement, the process for withdrawal, or the implications of withdrawal for the United States, let alone for the world.Link

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