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Actions Speak Louder Than Words: A Linguistic Analysis of Corporate Environmental Sustainability Disclosures 行动胜于雄辩:对企业环境可持续性披露的语言分析
Pub Date : 2016-06-30 DOI: 10.2139/ssrn.2802739
Andy Moniz
This study evaluates the extent to which firms acknowledge climate change and communicate credible climate change mitigation and adaptation strategies in their environmental sustainability reports. We assess the credibility of firms' strategies by retrieving domain knowledge using Linked Data from the Web. Specifically, we query an online government database and retrieve earth scientists' recommendations on climate change. Using these recommendations, we employ a probabilistic topic model to create a taxonomy of climate change terms. We then evaluate the extent to which firms discuss these recommendations in their environmental sustainability communications. Our findings suggest that the probability that a firm reduces its direct greenhouse gas emissions is positively related to whether its strategy is aligned with earth scientists' recommendations. Our approach is intended to highlight the merits of integrating earth science domain knowledge into a corporate disclosure analysis, and may be of interest to regulators seeking to detect corporate 'greenwashing.'
本研究评估了企业在其环境可持续性报告中承认气候变化并传达可信的气候变化减缓和适应战略的程度。我们通过使用网络关联数据检索领域知识来评估公司战略的可信度。具体来说,我们查询一个在线政府数据库,检索地球科学家关于气候变化的建议。使用这些建议,我们使用概率主题模型来创建气候变化术语的分类法。然后,我们评估公司在其环境可持续性沟通中讨论这些建议的程度。我们的研究结果表明,企业减少直接温室气体排放的可能性与其战略是否符合地球科学家的建议呈正相关。我们的方法旨在强调将地球科学领域知识整合到企业披露分析中的优点,并且可能会引起寻求发现企业“洗绿”的监管机构的兴趣。
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引用次数: 0
Risk Perception of Climate Change: Empirical Evidence for Germany 气候变化的风险感知:德国的经验证据
Pub Date : 2016-06-29 DOI: 10.2139/ssrn.2866661
M. Frondel, Michael Simora, Stephan Sommer
The perception of risks associated with climate change appears to be a key factor for the support of climate policy measures. Using a generalized ordered logit approach and drawing on a unique data set originating from two surveys conducted in 2012 and 2014, each among more than 6,000 German households, we analyze the determinants of individual risk perception associated with three kinds of natural hazards: heat waves, storms, and floods. Our focus is on the role of objective risk measures and experience with these natural hazards, whose frequency is likely to be affected by climate change. In line with the received literature, the results suggest that personal experience with adverse events and personal damage therefrom are strong drivers of individual risk perception.
对气候变化相关风险的认识似乎是支持气候政策措施的一个关键因素。使用广义有序logit方法,并利用来自2012年和2014年进行的两次调查的独特数据集,每个调查都在6000多个德国家庭中进行,我们分析了与三种自然灾害相关的个人风险感知的决定因素:热浪、风暴和洪水。我们的重点是客观风险措施的作用和这些自然灾害的经验,其频率可能受到气候变化的影响。与已有的文献一致,结果表明,不良事件的个人经历及其造成的个人损害是个人风险感知的强大驱动因素。
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引用次数: 76
Reflections on the Prospects for Pro-Poor Low-Carbon Growth 对扶贫低碳增长前景的思考
Pub Date : 2015-02-02 DOI: 10.1163/2210-7975_hrd-0148-2015018
D. Willenbockel
Eradicating extreme poverty from the face of the earth once and for all is a central goal of the post-2015 development agenda. Without a rapid transition of the world economy to a low-carbon growth path over the next few decades, this ambitious goal will remain elusive. Under current greenhouse gas (GHG) emission reduction pledges, the world is not on track to limit the average global temperature rise to +2o C above pre-industrial levels. Failure to meet this agreed target threatens to impede future progress and roll back past achievements in poverty alleviation. Irrespective of the responsibility of the “Global North” for the bulk of atmospheric GHG concentration levels accumulated in the past, most of the growth in energy demand and global GHG emissions over coming decades will arise from today’s developing countries. To avoid catastrophic climate change, a transition to a low-carbon growth path in today’s large fast-growing middle-income countries is imperative and mitigation efforts in other developing countries are also required. Yet developing countries are unlikely to adopt a low-carbon development strategy if such a strategy is perceived to be in conflict with domestic near-term poverty reduction aspirations. Thus, a better understanding of the potential distributional implications of different conceivable pathways to low carbon development is required to ensure the social acceptability and political viability of low carbon policy reforms. The growing recognition that the aims of equitable or pro-poor growth and low-carbon growth need to be addressed together has led to efforts in the literature to identify potential synergies and trade-offs between pro-poor and low-carbon growth. This chapter provides a selective review and some reflections on this literature.
从地球上彻底消除极端贫困是2015年后发展议程的一项中心目标。如果未来几十年世界经济不能迅速转向低碳增长道路,这一雄心勃勃的目标将难以实现。根据目前的温室气体减排承诺,世界并没有走上将全球平均气温上升限制在比工业化前水平高20摄氏度的轨道。如果不能实现这一商定的目标,就有可能阻碍今后的进展,并使过去在减轻贫穷方面取得的成就付之一炬。不考虑“全球北方”对过去积累的大部分大气温室气体浓度水平的责任,未来几十年能源需求和全球温室气体排放的大部分增长将来自今天的发展中国家。为了避免灾难性的气候变化,当今快速增长的中等收入大国必须向低碳增长道路过渡,其他发展中国家也需要作出减缓努力。然而,发展中国家不太可能采用低碳发展战略,如果这种战略被认为与国内近期减少贫困的愿望相冲突的话。因此,为了确保低碳政策改革的社会可接受性和政治可行性,需要更好地理解不同低碳发展途径的潜在分配影响。人们日益认识到,公平或有利于穷人的增长与低碳增长的目标需要同时解决,这促使文献努力确定有利于穷人和低碳增长之间的潜在协同效应和权衡。本章对这些文献进行了选择性的回顾和反思。
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引用次数: 3
The Long-Run Impact of Biofuels on Food Prices 生物燃料对食品价格的长期影响
Pub Date : 2015-02-01 DOI: 10.2139/ssrn.2685685
U. Chakravorty, Marie-Hélène Hubert, M. Moreaux, Linda Nøstbakken
More than 40% of US grain is now used to produce biofuels, which are used as substitutes for gasoline in transportation. Biofuels have been blamed universally for recent increases in world food prices. Many studies have shown that these energy mandates in the US and EU may have a large (30-60%) impact on food prices. In this paper we show that demand-side effects - in the form of population growth and income-driven preferences for meat and dairy products rather than cereals - may play as much of a role in raising food prices as biofuel policy. By specifying a Ricardian model with differential land quality, we show that a significant amount of new land will be converted to farming which is likely to cause a modest increase in food prices. However, biofuels may increase aggregate world carbon emissions, due to leakage from lower oil prices and conversion of pasture and forest land for farming.
目前,美国40%以上的粮食用于生产生物燃料,在交通运输中用作汽油的替代品。生物燃料被普遍指责为最近世界粮食价格上涨的罪魁祸首。许多研究表明,美国和欧盟的这些能源指令可能对食品价格产生很大(30-60%)的影响。在这篇论文中,我们表明需求侧效应——以人口增长和收入驱动的对肉类和奶制品而不是谷物的偏好的形式——可能在提高食品价格方面发挥与生物燃料政策同样大的作用。通过指定具有不同土地质量的李嘉图模型,我们表明大量的新土地将被转化为农业,这可能会导致食品价格的适度上涨。然而,生物燃料可能会增加全球碳排放总量,这是由于油价下跌和牧场和林地转为耕地造成的泄漏。
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引用次数: 21
Recent Movements of Reducing Greenhouse Gas Emissions and Implications 减少温室气体排放的最新动向及其影响
Pub Date : 2014-10-31 DOI: 10.2139/ssrn.2533838
J. Moon, Sung Hee Lee
U.S. Environmental Protection Agency (EPA) recently proposed the “Clean Power Plan”, under President Obama's Climate Action Plan, to reduce Greenhouse Gas (GHG) emissions from power plants by 30 percent from 2005 levels by 2030. China is redirecting the country’s economic growth strategy with increasing awareness of challenges posed by severe climate change and EU, the world's 3rd largest emitter has continuously implemented policy measures to reduce emissions. In this context, major economies' recent efforts to cut GHG emissions can be explained as a way for not only addressing climate change but also changing energy mix and expanding trade of environmental goods.
根据奥巴马总统的气候行动计划,美国环境保护署(EPA)最近提出了“清洁能源计划”,到2030年将发电厂的温室气体排放量在2005年的基础上减少30%。随着对严重气候变化带来的挑战的意识日益增强,中国正在重新调整国家的经济增长战略,而世界第三大排放国欧盟也在不断实施减排政策措施。在这种背景下,主要经济体最近的温室气体减排努力不仅可以解释为应对气候变化的一种方式,还可以解释为改变能源结构和扩大环境产品贸易的一种方式。
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引用次数: 0
Why Have Greenhouse Emissions in RGGI States Declined? An Econometric Attribution to Economic, Energy Market, and Policy Factors 为什么RGGI州的温室气体排放量下降了?经济、能源市场和政策因素的计量经济学归因
Pub Date : 2014-05-01 DOI: 10.2139/SSRN.2467545
Brian C. Murray, Peter Maniloff, Evan Murray
The Regional Greenhouse Gas Initiative (RGGI) is a consortium of northeastern states that have agreed to limit carbon dioxide emissions from electricity generation through a regional emissions trading program. Since the initiative came into effect in 2009, emissions have dropped precipitously, while the price of emissions allowances has fallen from approximately $4 per ton to the program floor price of just under $2.00. We ask why the emission reductions have come so fast and inexpensively, finding that it is due to a combination of factors, including the emissions trading program itself, complementary environmental programs, lower natural gas prices, and possibly some regional spillover effects. We find that the effect of the recession was small compared with other factors. Lower natural gas prices had a substantial impact on regional emissions. Econometric challenges makes it difficult to assign how much of the RGGI reduction is due to the price and how much is due to an overall "regime effect" guiding long-term planning decisions. We also present results consistent with but not dispositive of RGGI emissions reductions being due to policy leakage. But taken together, and compared to emission reduction outcomes in the rest of the U.S., it appears the RGGI program has induced a substantial reduction in the emissions, all else equal.
区域温室气体倡议(RGGI)是一个由东北部各州组成的联盟,它们同意通过区域排放交易计划限制发电过程中的二氧化碳排放。自2009年该倡议生效以来,排放量急剧下降,而排放配额的价格已从每吨约4美元降至不到2美元的计划底价。我们问为什么减排来得如此之快,成本如此之低,发现这是由于多种因素的综合作用,包括排放交易计划本身、互补的环境计划、较低的天然气价格,以及可能的一些区域溢出效应。我们发现,与其他因素相比,经济衰退的影响很小。较低的天然气价格对区域排放产生了重大影响。计量经济学的挑战使得很难确定RGGI的减少有多少是由于价格,有多少是由于指导长期规划决策的总体“制度效应”。我们还提出了与RGGI排放量减少是由于政策泄漏一致但不是决定性的结果。但总的来说,与美国其他地区的减排成果相比,在其他条件相同的情况下,RGGI项目似乎已经导致了排放量的大幅减少。
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引用次数: 5
Climate Change Securities Disclosures in Australia 澳大利亚气候变化证券披露
Pub Date : 2014-03-01 DOI: 10.7916/D8SB44XW
A. Liu
This working paper looks at the extent to which current securities filings regulations with the Australian securities authorities require (or alternatively, recommend) listed Australian Securities Exchange (ASX) entities to disclose climate change risks on the performance of a listed entity. The paper also reviews what in practice is being reported for the 2013 reporting year. The ASX Corporate Governance Principles and Recommendations which ASX-listed entities are strongly encouraged to adopt are currently under review and a new proposed 3rd edition draft includes a recommendation that ASX-listed entities disclose environmental and social sustainability risks to investors. Further, the Australian Securities Investment Commission has issued guidance that recommends listed entities include in their annual reporting requirements a discussion of environmental and other sustainability risks where those risks could affect the entity’s achievement of its financial performance or outcomes disclosed, taking into account the nature and business of the entity. A review of the 2013 disclosures made in annual reports from a sample of ASX Top 20 listed entities by market capitalization evidence a lack of comprehensive risk identification and discussion which linked climate change risks to business strategy and financial performance. Many of the annual reports reviewed for the purposes of this work paper contained only limited basic information, if any at all, rather than any substantive disclosure on climate change risks and their materiality on existing or future operations and financial performance.
本工作文件着眼于澳大利亚证券监管机构现行证券备案法规要求(或建议)澳大利亚证券交易所(ASX)上市实体披露气候变化风险对上市实体业绩的影响程度。本文还回顾了2013年报告年度的实际报告内容。ASX强烈鼓励上市实体采用的ASX公司治理原则和建议目前正在审查中,新的建议第三版草案包括建议ASX上市实体向投资者披露环境和社会可持续性风险。此外,澳大利亚证券投资委员会(Australian Securities Investment Commission)发布了指导意见,建议上市实体在考虑实体的性质和业务的情况下,在其年度报告要求中纳入可能影响实体实现其财务业绩或披露结果的环境和其他可持续性风险的讨论。对2013年年度报告中披露的ASX市值前20名上市实体样本的审查表明,缺乏将气候变化风险与业务战略和财务绩效联系起来的全面风险识别和讨论。为本工作文件的目的而审查的许多年度报告仅包含有限的基本信息(如果有的话),而没有就气候变化风险及其对现有或未来业务和财务业绩的重要性进行任何实质性披露。
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引用次数: 0
Measurement of the 'Underlying Energy Efficiency' in Chinese Provinces 中国各省“基础能源效率”的测量
Pub Date : 2013-10-30 DOI: 10.2139/ssrn.2347586
M. Filippini, Lin Zhang
China is one of the largest consumers of energy globally. The country also emits some of the highest levels of CO2 globally. In 2009, 18% of the world’s total energy was consumed in China and the growth rate of energy consumption in China is 6.4% per year. In recent years, the Chinese government decided to introduce several energy policy instruments to promote energy efficiency. For instance, reduction targets for the level of energy intensity have been defined for provinces in China. However, energy intensity is not an accurate proxy for energy efficiency because changes in energy intensity are a function of changes in several socioeconomic factors. For this reason, in this paper we present an empirical analysis on the measurement of the persistent and transient “underlying energy efficiency” of Chinese provinces. For this purpose, a log-log aggregate energy demand frontier model is estimated by employing data on 29 provinces observed over the period 1996 to 2008. Several econometric model specifications for panel data are used: the random effects model and the true random effects model along with other versions of these models. Our analysis shows that energy intensity cannot measure accurately the level of efficiency in the use of energy in Chinese provinces. Further, our empirical analysis shows that the average value of the persistent “underlying energy efficiency” is around 0.78 whereas the average value of the transient “underlying energy efficiency” is approximately 0.93.
中国是全球最大的能源消费国之一。该国的二氧化碳排放量也是全球最高的。2009年,中国能源消费占世界能源消费总量的18%,能源消费以每年6.4%的速度增长。近年来,中国政府决定推出几项能源政策工具,以提高能源效率。例如,中国各省已经制定了能源强度水平的减排目标。然而,能源强度并不是能源效率的准确代表,因为能源强度的变化是几个社会经济因素变化的函数。基于此,本文对中国各省持续和短暂的“潜在能源效率”进行了实证分析。为此,利用1996年至2008年29个省份的观测数据,估计了一个对数-对数总能源需求边界模型。对面板数据使用了几种计量经济学模型规范:随机效应模型和真随机效应模型以及这些模型的其他版本。我们的分析表明,能源强度不能准确地衡量中国各省的能源利用效率水平。此外,我们的实证分析表明,持续的“潜在能源效率”的平均值约为0.78,而短暂的“潜在能源效率”的平均值约为0.93。
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引用次数: 4
The Gas Target Model for the Vysehrad 4 Region: Conceptual Analysis Vysehrad 4地区天然气靶区模型:概念分析
Pub Date : 2013-10-01 DOI: 10.2139/ssrn.2378830
Sergio Ascari
The Gas Target Model is a challenge, notably for the less than large European markets that are fostered to merge in order to boost liquidity. The challenge is even tougher for the Vysehrad countries (Czech Republic, Hungary, Poland and Slovakia), which have long been dependent on Russian supplies and are therefore characterized by less open markets than their Western neighbors. This paper analyses the reality of the V4 countries vis-a-vis the European Gas Target Model, starting from their current and expected infrastructural endowment, and suggests ways to develop and implement it in the most efficient way for them and for the EU as a whole.
天然气目标模型是一个挑战,特别是对于规模较小的欧洲市场来说,这些市场被鼓励合并以提高流动性。对于维舍拉德地区的国家(捷克共和国、匈牙利、波兰和斯洛伐克)来说,挑战更加严峻,这些国家长期以来一直依赖俄罗斯的供应,因此其市场开放程度不如西方邻国。本文从V4国家目前和预期的基础设施禀赋出发,分析了它们相对于欧洲天然气目标模型的现实情况,并提出了以最有效的方式为它们和整个欧盟开发和实施该模型的方法。
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引用次数: 1
Introduction: Understanding Legal Empowerment of the Poor in the Context of Sustainable Development 引言:在可持续发展的背景下理解赋予穷人法律权力
Pub Date : 2013-04-01 DOI: 10.2139/ssrn.2944709
Sébastien Jodoin, S. Stephenson
This introduction situates the contributions to this special issue within the broader legal and scholarly developments that concern the relationship between public participation and climate governance. It begins by discussing the origins and scope of the principle of public participation in international environmental and climate law. It then provides an overview of three broad strands of research that have examined the role and prospects of public participation, collaboration and deliberation in the governance of complex environmental issues such as climate change. It concludes by identifying a number of lines of inquiry that could inform future research on the relationship between public participation and climate governance.
本引言将对这一特殊问题的贡献置于更广泛的法律和学术发展中,这些发展涉及公众参与与气候治理之间的关系。本文首先讨论了国际环境与气候法中公众参与原则的起源和范围。然后,它概述了三个广泛的研究方向,这些研究考察了公众参与、合作和审议在气候变化等复杂环境问题治理中的作用和前景。最后,报告确定了若干调查方向,为未来关于公众参与与气候治理之间关系的研究提供信息。
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引用次数: 2
期刊
AARN: Energy & Climate Change (Sub-Topic)
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