In humanitarian fleet management, the performance of purchase, assignment, and sales decisions is determined by dynamic interactions between the fleet composition (vehicles that were acquired at different times and have different residual values), the time-varying and uncertain demands on the fleet, and the depreciation of the vehicles as they are exploited. When all of these factors are taken into account, optimal decisions become analytically intractable. We pro-pose to evaluate purchase, assignment, and sales policies in a realistic simulation environment that directly models heterogeneous vehicle attributes and tracks their evolution over time. Using data from a large international humanitarian organization (LIHO), the simulator can identify the rationale behind seemingly ad-hoc decisions by field managers at LIHO. For instance, by selling vehicles later than LIHO recommends, managers are actually reducing their costs; similarly, managers decline to coordinate vehicles between mission types because the merits of "sharing" in this way turn out to be marginal at best.
{"title":"The Facts on the Ground: Evaluating Humanitarian Fleet Management Policies Using Simulation","authors":"Liyi Gu, I. Ryzhov, Mahyar Eftekhar","doi":"10.2139/ssrn.3210334","DOIUrl":"https://doi.org/10.2139/ssrn.3210334","url":null,"abstract":"In humanitarian fleet management, the performance of purchase, assignment, and sales decisions is determined by dynamic interactions between the fleet composition (vehicles that were acquired at different times and have different residual values), the time-varying and uncertain demands on the fleet, and the depreciation of the vehicles as they are exploited. When all of these factors are taken into account, optimal decisions become analytically intractable. We pro-pose to evaluate purchase, assignment, and sales policies in a realistic simulation environment that directly models heterogeneous vehicle attributes and tracks their evolution over time. Using data from a large international humanitarian organization (LIHO), the simulator can identify the rationale behind seemingly ad-hoc decisions by field managers at LIHO. For instance, by selling vehicles later than LIHO recommends, managers are actually reducing their costs; similarly, managers decline to coordinate vehicles between mission types because the merits of \"sharing\" in this way turn out to be marginal at best.","PeriodicalId":175326,"journal":{"name":"PSN: Sustainable Development (Topic)","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-07-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115713727","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Global warming is a major challenge for this planet, and its solution requires efforts throughout society. Maritime transportation, which carries more than 90% of the global trade, plays a critical role in the contribution of greenhouse gas (GHG) emissions. However, the GHGs emitted by the global fleet still fall outside the emission reduction scheme established by the Kyoto Protocol. Alternative solutions are therefore sought. Several market-based measures have been proposed and submitted to IMO for discussion and evaluation. In this paper, we focus on one of these measures, namely the Maritime Emissions Trading Scheme (METS). An optimization model that integrates (global or regional) METS into the classical fleet composition and deployment problem is proposed. This model is used as a tool to study the impact of METS on fleet operations and their CO2 emissions. The results of the computational study suggest that, in the short term, the implementation of METS does not lead to emission reduction in most scenarios. However, in the case of low bunker prices, high allowance costs or global METS coverage, a more significant CO2 decrease in the short term can be expected.
{"title":"Can an Emission Trading Scheme Really Reduce CO2 Emissions in the Short Term? Evidence from a Maritime Fleet Composition and Deployment Model","authors":"Yewen Gu, S. Wallace, Xin Wang","doi":"10.2139/ssrn.3203617","DOIUrl":"https://doi.org/10.2139/ssrn.3203617","url":null,"abstract":"Abstract Global warming is a major challenge for this planet, and its solution requires efforts throughout society. Maritime transportation, which carries more than 90% of the global trade, plays a critical role in the contribution of greenhouse gas (GHG) emissions. However, the GHGs emitted by the global fleet still fall outside the emission reduction scheme established by the Kyoto Protocol. Alternative solutions are therefore sought. Several market-based measures have been proposed and submitted to IMO for discussion and evaluation. In this paper, we focus on one of these measures, namely the Maritime Emissions Trading Scheme (METS). An optimization model that integrates (global or regional) METS into the classical fleet composition and deployment problem is proposed. This model is used as a tool to study the impact of METS on fleet operations and their CO2 emissions. The results of the computational study suggest that, in the short term, the implementation of METS does not lead to emission reduction in most scenarios. However, in the case of low bunker prices, high allowance costs or global METS coverage, a more significant CO2 decrease in the short term can be expected.","PeriodicalId":175326,"journal":{"name":"PSN: Sustainable Development (Topic)","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116018094","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Russian Abstract: Модели репрезентативной энергетической системы (РЭС), которые детально описывают энергетическую систему страны или региона на уровне технологий производства, трансформации, распределения и потребления различных видов энергии, широко применяются для долгосрочных прогнозов предложения и спроса на энергоресурсы и сценариев сокращения эмиссии. В работе приведены с сценарии сокращения эмиссии СО2 от сжигания ископаемых видов топлива. English Abstract: Models of a representative energy system (RES) that describe in detail the energy system of a country or region at the level of production, transformation, distribution and consumption technologies for various types of energy are widely used for long-term supply and demand forecasts and emission reduction scenarios. The paper presents scenarios for reducing CO2 emissions from burning fossil fuels.
{"title":"Сокращения эмиссии СО2 от сжигания ископаемых видов топлива на 50 процентов по сравнению с 1990 годом в региональном разрезе (Reductions in CO2 Emissions From Fossil Fuel Combustion by 50 Percent Compared With 1990 in the Regional Context)","authors":"V. Potashnikоv","doi":"10.2139/ssrn.3205271","DOIUrl":"https://doi.org/10.2139/ssrn.3205271","url":null,"abstract":"<b>Russian Abstract:</b> Модели репрезентативной энергетической системы (РЭС), которые детально описывают энергетическую систему страны или региона на уровне технологий производства, трансформации, распределения и потребления различных видов энергии, широко применяются для долгосрочных прогнозов предложения и спроса на энергоресурсы и сценариев сокращения эмиссии. В работе приведены с сценарии сокращения эмиссии СО2 от сжигания ископаемых видов топлива. <b>English Abstract:</b> Models of a representative energy system (RES) that describe in detail the energy system of a country or region at the level of production, transformation, distribution and consumption technologies for various types of energy are widely used for long-term supply and demand forecasts and emission reduction scenarios. The paper presents scenarios for reducing CO2 emissions from burning fossil fuels.","PeriodicalId":175326,"journal":{"name":"PSN: Sustainable Development (Topic)","volume":"134 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133954343","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The last decade has seen a growing interest in market-based approaches to poverty reduction. Since the publication of Prahalad’s Fortune at the Bottom of the Pyramid in 2004, businesses, entrepreneurs, and researchers have investigated ways to tap into this fortune. Many researchers have suggested that companies could both do well financially and contribute to social good by serving the bottom two-thirds of the global economic pyramid and effectively raising members of this rapidly growing base of this pyramid (BOP) out of poverty (Agnihotri, 2013; Hammond et al., 2007; London, 2007; Prahalad & Hart, 1999). Although there have been many debates concerning the efficacy of BOP ventures in alleviating poverty (Arora & Romijn, 2012; Karnani, 2007; Warnholz, 2007), companies, entrepreneurs, and practitioners have found ways to profitably navigate the challenging market of the world’s poor and ultra-poor while simultaneously providing products and services that address their unique and localized social and economic needs. However, previously, no theoretical constructs guided the research or practice of market-based approaches to poverty. In 2008, the United Nations Development Program published a database of 50 case studies of ventures that demonstrated positive social impacts at the BOP and developed a conceptual framework of using BOP-centric strategies to overcome common constraints. Three years later, additional cases were published. This paper conducted a systematic review of 61 case studies to test this model, resulting in a holistic model synthesizing the various approaches. A comparative analysis provided insight into the importance of each component depending on various factors.. The research suggested that role of the poor, the industry, BOP-appropriate business models and the partnerships influence the development and the success of the BOP businesses.
{"title":"Profit and Social Value: An Analysis of Strategies and Sustainability at the Base of the Pyramid","authors":"R. Ansted, Eric B. Dent","doi":"10.2139/ssrn.3328196","DOIUrl":"https://doi.org/10.2139/ssrn.3328196","url":null,"abstract":"The last decade has seen a growing interest in market-based approaches to poverty reduction. Since the publication of Prahalad’s Fortune at the Bottom of the Pyramid in 2004, businesses, entrepreneurs, and researchers have investigated ways to tap into this fortune. Many researchers have suggested that companies could both do well financially and contribute to social good by serving the bottom two-thirds of the global economic pyramid and effectively raising members of this rapidly growing base of this pyramid (BOP) out of poverty (Agnihotri, 2013; Hammond et al., 2007; London, 2007; Prahalad & Hart, 1999). Although there have been many debates concerning the efficacy of BOP ventures in alleviating poverty (Arora & Romijn, 2012; Karnani, 2007; Warnholz, 2007), companies, entrepreneurs, and practitioners have found ways to profitably navigate the challenging market of the world’s poor and ultra-poor while simultaneously providing products and services that address their unique and localized social and economic needs. However, previously, no theoretical constructs guided the research or practice of market-based approaches to poverty. In 2008, the United Nations Development Program published a database of 50 case studies of ventures that demonstrated positive social impacts at the BOP and developed a conceptual framework of using BOP-centric strategies to overcome common constraints. Three years later, additional cases were published. This paper conducted a systematic review of 61 case studies to test this model, resulting in a holistic model synthesizing the various approaches. A comparative analysis provided insight into the importance of each component depending on various factors.. The research suggested that role of the poor, the industry, BOP-appropriate business models and the partnerships influence the development and the success of the BOP businesses.","PeriodicalId":175326,"journal":{"name":"PSN: Sustainable Development (Topic)","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122682151","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-06-04DOI: 10.30858/PW/9788376587448.7
A. Danylenko, T. Sokolska, O. Shust
The current state, conditions and possibilities on introduction the free circulation of agricultural land in Ukraine are investigated in the research, the main problems of its development are highlighted and the experience of agricultural land sale and lease of in European countries is analyzed. The survey presents the results of interviewing shareholders and agricultural producers in two districts – Bila Tserkva, Kyiv region and Uman, Cherkassy region. The model of the agricultural land market should meet not only economic efficiency and expediency, but also contribute to the sustainable development of rural areas, where the circulation of agricultural land should be preceded by the introduction of appropriate restrictions. In order to prevent landlessness of peasants and the formation of latifundists, the free circulation of land can be implemented in two stages. Stage 1: land inventory, cadaster and land management system, which includes four subsystems: 1) land rights (distribution and provision of land rights, legal registration of land borders, transfer of ownership rights or use rights through the conclusion of sales agreements or lease; the establishment of borders of land and property rights to them; the consideration and resolution of disputes concerning the rights on land plots and their boundaries. Monetary valuation of land (valuation of land and property associated with it, provision of income on tax payments); 3) land use (land use control through territorial planning schemes and rules for land use at the national, regional and local levels; ensuring compliance with land use plans and rules; disputes over land use; compliance with resource-saving business practices and environmental measures); 4) infrastructure development. Stage 2: opening the market for state and communal property land. The priorities on purchase are to be provided for the local communities, restriction on access the market for the legal entities, foreigners, introduction of other restrictions on the sale of agricultural land, the application the taxes differentiations on land sales, fees, etc.
{"title":"The Moratorium on Agricultural Land Sale as a Limiting Factor for Rural Development","authors":"A. Danylenko, T. Sokolska, O. Shust","doi":"10.30858/PW/9788376587448.7","DOIUrl":"https://doi.org/10.30858/PW/9788376587448.7","url":null,"abstract":"The current state, conditions and possibilities on introduction the free circulation of agricultural land in Ukraine are investigated in the research, the main problems of its development are highlighted and the experience of agricultural land sale and lease of in European countries is analyzed. The survey presents the results of interviewing shareholders and agricultural producers in two districts – Bila Tserkva, Kyiv region and Uman, Cherkassy region. The model of the agricultural land market should meet not only economic efficiency and expediency, but also contribute to the sustainable development of rural areas, where the circulation of agricultural land should be preceded by the introduction of appropriate restrictions. In order to prevent landlessness of peasants and the formation of latifundists, the free circulation of land can be implemented in two stages. Stage 1: land inventory, cadaster and land management system, which includes four subsystems: 1) land rights (distribution and provision of land rights, legal registration of land borders, transfer of ownership rights or use rights through the conclusion of sales agreements or lease; the establishment of borders of land and property rights to them; the consideration and resolution of disputes concerning the rights on land plots and their boundaries. Monetary valuation of land (valuation of land and property associated with it, provision of income on tax payments); 3) land use (land use control through territorial planning schemes and rules for land use at the national, regional and local levels; ensuring compliance with land use plans and rules; disputes over land use; compliance with resource-saving business practices and environmental measures); 4) infrastructure development. Stage 2: opening the market for state and communal property land. The priorities on purchase are to be provided for the local communities, restriction on access the market for the legal entities, foreigners, introduction of other restrictions on the sale of agricultural land, the application the taxes differentiations on land sales, fees, etc.","PeriodicalId":175326,"journal":{"name":"PSN: Sustainable Development (Topic)","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132237779","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Severe droughts have brought an impact to many areas in Indonesia: diminishing water supply. Factors that contribute are mainly deforestation and unregulated ground water drilling. With an increasing population, the demand for water is also escalating. As a consequence, many residential areas and industries are extracting ground water to fulfill their daily demands. This has led to the depletion of ground water down to a significant low level. The city of Bandung is dangerously critical in terms of ground water supply as it is predicted to be dry in 2025 (ADB, 2016). Driven with a sense of urgency, this project aims to provide an option for urban households of north Bandung to manage surface water by rainwater harvesting, using rain barrels. It is a system that collects rainwater runoff for later use. Rain barrels can be especially important in arid or heavily populated urban areas to reduce demands on increasingly limited water supply. Rainwater harvesting systems are measured by the area for collecting water (in m2 or ft2) and the volume of water they store (in liters or gallons) (Feehan et al., 2014). To size a system for a site, areas chosen for the rainwater collecting site should have enough volume of water for occupants, given the site's rainfall patterns. Data is required to calculate the rainwater harvest rate, occupants’ needs, rainfall and efficiency (www.watercache.com). In addition, the system should also include a filter so water can be used for washing. Once the data is collected, then the cost of installing the system can be estimated, where the cost can be applied to individual households or shared in communities. The application of a rainwater harvesting system can be a sustainable solution in areas where water is scarce, as well as a positive environmental impact in the long run.
{"title":"Rain Barrel Project: Rainwater Harvesting for Sustainable Water Supply in Urban Households","authors":"Rosita Widjojo, I. A. Raharjo","doi":"10.2139/ssrn.3201115","DOIUrl":"https://doi.org/10.2139/ssrn.3201115","url":null,"abstract":"Severe droughts have brought an impact to many areas in Indonesia: diminishing water supply. Factors that contribute are mainly deforestation and unregulated ground water drilling. With an increasing population, the demand for water is also escalating. As a consequence, many residential areas and industries are extracting ground water to fulfill their daily demands. This has led to the depletion of ground water down to a significant low level. The city of Bandung is dangerously critical in terms of ground water supply as it is predicted to be dry in 2025 (ADB, 2016). Driven with a sense of urgency, this project aims to provide an option for urban households of north Bandung to manage surface water by rainwater harvesting, using rain barrels. It is a system that collects rainwater runoff for later use. Rain barrels can be especially important in arid or heavily populated urban areas to reduce demands on increasingly limited water supply. Rainwater harvesting systems are measured by the area for collecting water (in m2 or ft2) and the volume of water they store (in liters or gallons) (Feehan et al., 2014). To size a system for a site, areas chosen for the rainwater collecting site should have enough volume of water for occupants, given the site's rainfall patterns. Data is required to calculate the rainwater harvest rate, occupants’ needs, rainfall and efficiency (www.watercache.com). In addition, the system should also include a filter so water can be used for washing. Once the data is collected, then the cost of installing the system can be estimated, where the cost can be applied to individual households or shared in communities. The application of a rainwater harvesting system can be a sustainable solution in areas where water is scarce, as well as a positive environmental impact in the long run.","PeriodicalId":175326,"journal":{"name":"PSN: Sustainable Development (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114286915","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Recently we have witnessed the worldwide adoption of many different types of innovative technologies, such as crowdsourcing, ridesharing, open and big data, aiming at delivering public services more efficiently and effectively. Among them, ridesharing has received substantial attention from decision-makers around the world. Because of the multitude of currently understood or potentially unknown risks associated with ridesharing (unemployment, insurance, information privacy, and environmental risk), governments in different countries apply different strategies to address such risks. Some governments prohibit the adoption of ridesharing altogether, while other governments promote it. In this article, we address the question of how risks involved in ridesharing are governed over time. We present an in-depth single case study on Singapore and examine how the Singaporean government has addressed risks in ridesharing over time. The Singaporean government has a strong ambition to become an innovation hub, and many innovative technologies have been adopted and promoted to that end. At the same time, decision-makers in Singapore are reputed for their proactive style of social governance. The example of Singapore can be regarded as a revelatory case study, helping us further to explore governance practices in other countries.
{"title":"The Governance of Risks in Ridesharing: A Revelatory Case from Singapore","authors":"Yanwei Li, Araz Taeihagh, M. Jong","doi":"10.3390/EN11051277","DOIUrl":"https://doi.org/10.3390/EN11051277","url":null,"abstract":"Recently we have witnessed the worldwide adoption of many different types of innovative technologies, such as crowdsourcing, ridesharing, open and big data, aiming at delivering public services more efficiently and effectively. Among them, ridesharing has received substantial attention from decision-makers around the world. Because of the multitude of currently understood or potentially unknown risks associated with ridesharing (unemployment, insurance, information privacy, and environmental risk), governments in different countries apply different strategies to address such risks. Some governments prohibit the adoption of ridesharing altogether, while other governments promote it. In this article, we address the question of how risks involved in ridesharing are governed over time. We present an in-depth single case study on Singapore and examine how the Singaporean government has addressed risks in ridesharing over time. The Singaporean government has a strong ambition to become an innovation hub, and many innovative technologies have been adopted and promoted to that end. At the same time, decision-makers in Singapore are reputed for their proactive style of social governance. The example of Singapore can be regarded as a revelatory case study, helping us further to explore governance practices in other countries.","PeriodicalId":175326,"journal":{"name":"PSN: Sustainable Development (Topic)","volume":"10 ","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120973590","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Infrastructure refers to the basic facility required to run the daily life of the citizen of a country or city like roads, bridges, tunnels, water supplies, sewers, electricity, gas, telecommunication system, cellular network, internet connectivity and broadband speed etc. Infrastructures are primarily classified into two brad heads namely, hard infrastructures like transportation networks like roads, airports, sea ports or river ports, railroads etc. and soft infrastructures like education system, healthcare system, law and order situation, financial system, form of government, financial service and government responses to the civil emergency etc. of a country. Bangladesh has primarily graduated from the LDC list this year and hopping to be sustainably graduating into developing countries list by 2024. To fulfill that mission we have to fight few socioeconomic inconveniences like providing employment to the existing unemployed as well as new comers in this category, improve infrastructure (hard and soft) facilities, transform the economy from agricultural based into industrialised one.
{"title":"Industrial Infrastructure Development for Sustainable Economic Growth","authors":"M. Abdin","doi":"10.2139/ssrn.3168469","DOIUrl":"https://doi.org/10.2139/ssrn.3168469","url":null,"abstract":"Infrastructure refers to the basic facility required to run the daily life of the citizen of a country or city like roads, bridges, tunnels, water supplies, sewers, electricity, gas, telecommunication system, cellular network, internet connectivity and broadband speed etc. Infrastructures are primarily classified into two brad heads namely, hard infrastructures like transportation networks like roads, airports, sea ports or river ports, railroads etc. and soft infrastructures like education system, healthcare system, law and order situation, financial system, form of government, financial service and government responses to the civil emergency etc. of a country. Bangladesh has primarily graduated from the LDC list this year and hopping to be sustainably graduating into developing countries list by 2024. To fulfill that mission we have to fight few socioeconomic inconveniences like providing employment to the existing unemployed as well as new comers in this category, improve infrastructure (hard and soft) facilities, transform the economy from agricultural based into industrialised one.","PeriodicalId":175326,"journal":{"name":"PSN: Sustainable Development (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128215331","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
J. Abito, Christopher R. Knittel, Konstantinos Metaxoglou, A. Trindade
We show that inefficiencies from having separate markets to correct an environmental externality are significantly mitigated when firms participate in an integrated product market. Firms take into account the distribution of externality prices and reallocate output from markets with high prices to markets with low prices. Investment in cleaner and more efficient capacity serves as an additional mechanism to reallocate output, which increases the marginal benefit of investment, and consequently improves longer-term outcomes. Using data from an integrated wholesale electricity market, we estimate a dynamic structural model of production and investment to bound the loss from separate markets for carbon dioxide emissions, and quantify the extent to which optimal investment can compensate for the loss. Despite the lack of the “invisible hand” of a single emissions market, profit-maximizing firms can play a crucial role in coordinating otherwise uncoordinated environmental regulations.
{"title":"Coordinating Separate Markets for Externalities","authors":"J. Abito, Christopher R. Knittel, Konstantinos Metaxoglou, A. Trindade","doi":"10.3386/W24481","DOIUrl":"https://doi.org/10.3386/W24481","url":null,"abstract":"We show that inefficiencies from having separate markets to correct an environmental externality are significantly mitigated when firms participate in an integrated product market. Firms take into account the distribution of externality prices and reallocate output from markets with high prices to markets with low prices. Investment in cleaner and more efficient capacity serves as an additional mechanism to reallocate output, which increases the marginal benefit of investment, and consequently improves longer-term outcomes. Using data from an integrated wholesale electricity market, we estimate a dynamic structural model of production and investment to bound the loss from separate markets for carbon dioxide emissions, and quantify the extent to which optimal investment can compensate for the loss. Despite the lack of the “invisible hand” of a single emissions market, profit-maximizing firms can play a crucial role in coordinating otherwise uncoordinated environmental regulations.","PeriodicalId":175326,"journal":{"name":"PSN: Sustainable Development (Topic)","volume":"53 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129300034","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This research report is the result of a partnership between the World Bank Group (WBG) and Government Pension Investment Fund (GPIF) of Japan, initiated by the World Bank Group's President, Jim Yong Kim, and GPIF's Chief Investment Officer, Hiro Mizuno. The aim is for the World Bank and IFC – member of the World Bank Group focused on the private sector – and GPIF to collaborate on initiatives that promote strategies for including environmental, social and governance (ESG) criteria in investment decisions across asset classes. Ultimately, the goal is to direct more capital towards sustainable investments and leverage the private sector to achieve the scale of investment needed to meet the Sustainable Development Goals.
{"title":"Incorporating Environmental, Social and Governance (ESG) Factors into Fixed Income Investment","authors":"Georg Inderst, F. Stewart","doi":"10.2139/ssrn.3175830","DOIUrl":"https://doi.org/10.2139/ssrn.3175830","url":null,"abstract":"This research report is the result of a partnership between the World Bank Group (WBG) and Government Pension Investment Fund (GPIF) of Japan, initiated by the World Bank Group's President, Jim Yong Kim, and GPIF's Chief Investment Officer, Hiro Mizuno. The aim is for the World Bank and IFC – member of the World Bank Group focused on the private sector – and GPIF to collaborate on initiatives that promote strategies for including environmental, social and governance (ESG) criteria in investment decisions across asset classes. Ultimately, the goal is to direct more capital towards sustainable investments and leverage the private sector to achieve the scale of investment needed to meet the Sustainable Development Goals.","PeriodicalId":175326,"journal":{"name":"PSN: Sustainable Development (Topic)","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116645220","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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