Pub Date : 2022-09-27DOI: 10.1080/21606544.2022.2125912
T. Vanli
ABSTRACT It has now been more significant than ever to understand the consequences of environmental policies given the unsustainability of enduring environmental challenges. This study aims to examine the nexus between economic growth, industrialisation and the environment in the United Kingdom, using time series data for the period 1948–2018. Gross Domestic Per Capita (GDPC) is used as a proxy for economic growth, energy consumption as measures for industrialisation and carbon dioxide emissions (Co2) or environmental pollution to test if the Environmental Kuznets Curve (EKC) holds for the UK. Autoregressive distributed lag (ARDL) and vector error correction model (VECM) have been employed to investigate the long-run and short-run causal relationships among variables, respectively. The paper concludes that the EKC hypothesis holds for the UK as the long-run relationship between CO2 emissions and GDPC is found. Further, energy consumption and imports of goods are found to have insignificant effects on the environment in both the short-run and long-run. The paper further concludes that environmental policies such as limiting energy consumption and controlling carbon emissions have no unfavourable effect on the real output growth in the UK.
{"title":"Optimal governance for economic growth and environment: evidence from the United Kingdom","authors":"T. Vanli","doi":"10.1080/21606544.2022.2125912","DOIUrl":"https://doi.org/10.1080/21606544.2022.2125912","url":null,"abstract":"ABSTRACT It has now been more significant than ever to understand the consequences of environmental policies given the unsustainability of enduring environmental challenges. This study aims to examine the nexus between economic growth, industrialisation and the environment in the United Kingdom, using time series data for the period 1948–2018. Gross Domestic Per Capita (GDPC) is used as a proxy for economic growth, energy consumption as measures for industrialisation and carbon dioxide emissions (Co2) or environmental pollution to test if the Environmental Kuznets Curve (EKC) holds for the UK. Autoregressive distributed lag (ARDL) and vector error correction model (VECM) have been employed to investigate the long-run and short-run causal relationships among variables, respectively. The paper concludes that the EKC hypothesis holds for the UK as the long-run relationship between CO2 emissions and GDPC is found. Further, energy consumption and imports of goods are found to have insignificant effects on the environment in both the short-run and long-run. The paper further concludes that environmental policies such as limiting energy consumption and controlling carbon emissions have no unfavourable effect on the real output growth in the UK.","PeriodicalId":44903,"journal":{"name":"Journal of Environmental Economics and Policy","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2022-09-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45485404","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 Enhancing the environmental governance in developing countries is now part of development plans in mitigating climate change effects on economies. This study analyses the effect of the sectoral value chains participation on environmental pollution and assesses whether digitalization and structural transformation can be used as key instruments in improving environmental quality in Africa. We use second-generation panel data for 40 African countries from 1990 to 2019. The results show that deepening the agriculture, industry and services sectors’ value chains participation increases the environmental pollution in Africa. We find that the U-inverted hypothesis between value chain participation and environmental pollution is verified in all considered sectors. This result implies that the environmental governance in Africa should consider the specificity of each sector of the economy. Moreover, digitalization and structural transformation enhance the environmental quality in sectoral value chain participation in Africa since they significantly reduce CO2 emissions. Fossil fuel energy consumption is a driver of CO2 emissions, while renewable energy consumption reduces environmental pollution in Africa. These findings have important policy implications in terms of the environmental governance in sectoral value chain participation for climate change mitigation in developing countries, including Africa.
{"title":"Sectoral value chains and environmental pollution in Africa: can development policies target digitalization and structural transformation to enhance environmental governance?","authors":"Essossinam Ali, Moukpè Gniniguè, Nadege Essossolim Awade","doi":"10.1080/21606544.2022.2110163","DOIUrl":"https://doi.org/10.1080/21606544.2022.2110163","url":null,"abstract":"ABSTRACT Enhancing the environmental governance in developing countries is now part of development plans in mitigating climate change effects on economies. This study analyses the effect of the sectoral value chains participation on environmental pollution and assesses whether digitalization and structural transformation can be used as key instruments in improving environmental quality in Africa. We use second-generation panel data for 40 African countries from 1990 to 2019. The results show that deepening the agriculture, industry and services sectors’ value chains participation increases the environmental pollution in Africa. We find that the U-inverted hypothesis between value chain participation and environmental pollution is verified in all considered sectors. This result implies that the environmental governance in Africa should consider the specificity of each sector of the economy. Moreover, digitalization and structural transformation enhance the environmental quality in sectoral value chain participation in Africa since they significantly reduce CO2 emissions. Fossil fuel energy consumption is a driver of CO2 emissions, while renewable energy consumption reduces environmental pollution in Africa. These findings have important policy implications in terms of the environmental governance in sectoral value chain participation for climate change mitigation in developing countries, including Africa.","PeriodicalId":44903,"journal":{"name":"Journal of Environmental Economics and Policy","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2022-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46234448","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 : 2022-08-29DOI: 10.1080/21606544.2022.2110162
A. Abbott, Philip Jones
ABSTRACT This is the first paper to explore the determinants of the cyclicality of government environmental protection expenditures. Attention focuses on political pressures to increase expenditure on public-sector programmes. These pressures change systematically over the economic cycle. In economic upturns, voters experience ‘fiscal illusion’. Governments can exercise discretion to increase environmental expenditures. In recessions, voters are far more aware. Vote maximising governments divert expenditures away from the environment, toward programmes that deliver more private-good benefits. Predictions are tested with reference to 28 OECD countries’ expenditures between 1992 and 2012. The cyclicality of expenditures depends on government sensitivity to systematic changes in voter awareness.
{"title":"The cyclicality of government environmental expenditure: political pressure in economic upturns and in recessions","authors":"A. Abbott, Philip Jones","doi":"10.1080/21606544.2022.2110162","DOIUrl":"https://doi.org/10.1080/21606544.2022.2110162","url":null,"abstract":"ABSTRACT This is the first paper to explore the determinants of the cyclicality of government environmental protection expenditures. Attention focuses on political pressures to increase expenditure on public-sector programmes. These pressures change systematically over the economic cycle. In economic upturns, voters experience ‘fiscal illusion’. Governments can exercise discretion to increase environmental expenditures. In recessions, voters are far more aware. Vote maximising governments divert expenditures away from the environment, toward programmes that deliver more private-good benefits. Predictions are tested with reference to 28 OECD countries’ expenditures between 1992 and 2012. The cyclicality of expenditures depends on government sensitivity to systematic changes in voter awareness.","PeriodicalId":44903,"journal":{"name":"Journal of Environmental Economics and Policy","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2022-08-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46582451","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 : 2022-08-25DOI: 10.1080/21606544.2022.2114549
David C. Cook, R. Fraser, Janet Haddock-Fraser
ABSTRACT The World Trade Organization is not explicitly in the business of environmental protection, but through recent initiatives it has sought to better understand the complex relationship between trade and the environment and its role in promoting sustainable trade growth. In line with these initiatives, this paper discusses ways it might explicitly consider ecosystem services impacts when ruling on trade disputes so as to internalise ecosystem services externalities. We propose a change to existing methods of settling trade disputes to include a comparison between the traditional gains from trade and the multilateral change in ecosystem services associated with trade by incorporating a penalty system into the dispute resolution process. If this comparison assesses damages to ecosystem services to exceed the gains from trade then the penalty system suggests trade should not be allowed to take place. This penalty system in turn can create an incentive for exporting countries to reduce their impacts on ecosystem services to facilitate trade.
{"title":"An ecosystem services penalty system for evaluating international trade proposals","authors":"David C. Cook, R. Fraser, Janet Haddock-Fraser","doi":"10.1080/21606544.2022.2114549","DOIUrl":"https://doi.org/10.1080/21606544.2022.2114549","url":null,"abstract":"ABSTRACT The World Trade Organization is not explicitly in the business of environmental protection, but through recent initiatives it has sought to better understand the complex relationship between trade and the environment and its role in promoting sustainable trade growth. In line with these initiatives, this paper discusses ways it might explicitly consider ecosystem services impacts when ruling on trade disputes so as to internalise ecosystem services externalities. We propose a change to existing methods of settling trade disputes to include a comparison between the traditional gains from trade and the multilateral change in ecosystem services associated with trade by incorporating a penalty system into the dispute resolution process. If this comparison assesses damages to ecosystem services to exceed the gains from trade then the penalty system suggests trade should not be allowed to take place. This penalty system in turn can create an incentive for exporting countries to reduce their impacts on ecosystem services to facilitate trade.","PeriodicalId":44903,"journal":{"name":"Journal of Environmental Economics and Policy","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2022-08-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45909122","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 : 2022-08-17DOI: 10.1080/21606544.2022.2108509
Patrik T. Hultberg, Darshana Udayanganie
ABSTRACT Adopting optimal environmental regulation in an open economy characterized by market distortions, policy constraints and transboundary pollution, is challenging. Absent first-best international agreements, coordinated environmental taxes and trade policies are derived in the presence of internal and external market failures. Existing theoretical models are extended by allowing for the possibility of transboundary pollution for small and large nations. For large nations, combining a Pigouvian tax with free trade is not optimal, and in certain circumstances import ‘carbon’ tariffs are recommended. In addition, if constrained from addressing market distortions optimally, available policy instruments should be adjusted to tackle unaddressed market distortions.
{"title":"Optimal environmental and trade policy combination in the presence of transboundary pollution and other market distortions","authors":"Patrik T. Hultberg, Darshana Udayanganie","doi":"10.1080/21606544.2022.2108509","DOIUrl":"https://doi.org/10.1080/21606544.2022.2108509","url":null,"abstract":"ABSTRACT Adopting optimal environmental regulation in an open economy characterized by market distortions, policy constraints and transboundary pollution, is challenging. Absent first-best international agreements, coordinated environmental taxes and trade policies are derived in the presence of internal and external market failures. Existing theoretical models are extended by allowing for the possibility of transboundary pollution for small and large nations. For large nations, combining a Pigouvian tax with free trade is not optimal, and in certain circumstances import ‘carbon’ tariffs are recommended. In addition, if constrained from addressing market distortions optimally, available policy instruments should be adjusted to tackle unaddressed market distortions.","PeriodicalId":44903,"journal":{"name":"Journal of Environmental Economics and Policy","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2022-08-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43257843","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 : 2022-08-11DOI: 10.1080/21606544.2022.2087745
Medhavi Sandhani, A. Pattanayak, K. S. Kavi Kumar
ABSTRACT This study examines the effects of weather shocks on the economic growth in the Indian context. By using state and district level data on weather variables (viz., temperature and rainfall) and growth rate of per-capita real GDP, the study evaluates the short-run as well as medium-run effects of changing weather on the growth. We use a fixed-effects model on state- and district-panel data sets spanning across several decades. The results based on the state-level analysis are suggestive of negative effects of the increasing temperature on the growth during 1980–2019. These aggregate results are further reinforced by the results from the district-level analysis. We find that higher temperatures have a significant negative impact on poorer districts, with a 1°C increase in temperature leading to a nearly 4.7% fall in the growth rate of district per-capita income. Moreover, higher temperatures not only have level effects but also have growth effects, especially for richer districts. Further, to propound tangible climate adaptation policy discussion, we use some developmental characteristics like credit access, electrification, urbanisation, and improved roads and market network in our analysis. The results suggest that such developmental characteristics may play a significant role in mitigating the negative impacts of climate change.
{"title":"Weather shocks and economic growth in India","authors":"Medhavi Sandhani, A. Pattanayak, K. S. Kavi Kumar","doi":"10.1080/21606544.2022.2087745","DOIUrl":"https://doi.org/10.1080/21606544.2022.2087745","url":null,"abstract":"ABSTRACT This study examines the effects of weather shocks on the economic growth in the Indian context. By using state and district level data on weather variables (viz., temperature and rainfall) and growth rate of per-capita real GDP, the study evaluates the short-run as well as medium-run effects of changing weather on the growth. We use a fixed-effects model on state- and district-panel data sets spanning across several decades. The results based on the state-level analysis are suggestive of negative effects of the increasing temperature on the growth during 1980–2019. These aggregate results are further reinforced by the results from the district-level analysis. We find that higher temperatures have a significant negative impact on poorer districts, with a 1°C increase in temperature leading to a nearly 4.7% fall in the growth rate of district per-capita income. Moreover, higher temperatures not only have level effects but also have growth effects, especially for richer districts. Further, to propound tangible climate adaptation policy discussion, we use some developmental characteristics like credit access, electrification, urbanisation, and improved roads and market network in our analysis. The results suggest that such developmental characteristics may play a significant role in mitigating the negative impacts of climate change.","PeriodicalId":44903,"journal":{"name":"Journal of Environmental Economics and Policy","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2022-08-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42125690","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 : 2022-07-18DOI: 10.1080/21606544.2022.2097960
Victor von Loessl, Eva Weingärtner, Sonja Zitzelsberger
ABSTRACT Using a survey experiment among a special sample composed of art house cinema visitors, we investigate whether spatial climate messages increase subjects' willingness to pay for an inclusion of public transport fares in cinema tickets as well as their willingness to use public transport in case such a combined ticket is introduced. Based on previous findings, we expect emphasizing the positive impact of public transport usage on the local level to have a greater effect on subjects' preferences for public transport than a message that highlights the global consequences. Contrary to these expectations, our results show that the global treatment increases subjects' willingness to pay compared to the local treatment and the baseline. Both treatments increase subjects' willingness to use public transport. Conducting a sub-sample analysis, we find that also the local message increases the willingness to pay for a combined ticket among respondents who lack a financial interest as they already own a season ticket for public transport.
{"title":"Do spatial climate messages increase pro-environmental engagement? Evidence from a survey experiment on public transport","authors":"Victor von Loessl, Eva Weingärtner, Sonja Zitzelsberger","doi":"10.1080/21606544.2022.2097960","DOIUrl":"https://doi.org/10.1080/21606544.2022.2097960","url":null,"abstract":"ABSTRACT Using a survey experiment among a special sample composed of art house cinema visitors, we investigate whether spatial climate messages increase subjects' willingness to pay for an inclusion of public transport fares in cinema tickets as well as their willingness to use public transport in case such a combined ticket is introduced. Based on previous findings, we expect emphasizing the positive impact of public transport usage on the local level to have a greater effect on subjects' preferences for public transport than a message that highlights the global consequences. Contrary to these expectations, our results show that the global treatment increases subjects' willingness to pay compared to the local treatment and the baseline. Both treatments increase subjects' willingness to use public transport. Conducting a sub-sample analysis, we find that also the local message increases the willingness to pay for a combined ticket among respondents who lack a financial interest as they already own a season ticket for public transport.","PeriodicalId":44903,"journal":{"name":"Journal of Environmental Economics and Policy","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2022-07-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42674500","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 : 2022-06-22DOI: 10.1080/21606544.2022.2085183
M. Agboola, A. Alola
ABSTRACT Since the inception of the quantification or qualification of global economic freedom, there has been increasing drive and competition towards for better financial freedom among the global economies. However, balancing the drive towards environmental sustainability and economic freedom, especially from the context of the Global Goals, has remained relatively ignored. Thus, this study tries to reveal the nature of the relationship, that is, a U- or inverted U-shaped hypothesis between economic freedom and environmental degradation in the case of Hong Kong Special Administrative Region of the People’s Republic of China (HKSAR). As the result of the investigation implied, economic freedom and environmental degradation exhibit a U-shaped relationship against the validity of the environmental Kuznets curve in the relationship between environmental degradation and income. The implication is that economic freedom poses more danger to the environment than income growth, especially when both experiences exponential increase. In any case, Hong Kong’s two principal energy sources (coal and oil) constitute a significant source of environmental damage. Moreover, there is Granger-causality evidence with frequency inference in favour of causality between carbon emission and all the explanatory variables except for the fossil oil consumption.
{"title":"The energy mix-environmental aspects of income and economic freedom in Hong Kong: cointegration and frequency domain causality evidence","authors":"M. Agboola, A. Alola","doi":"10.1080/21606544.2022.2085183","DOIUrl":"https://doi.org/10.1080/21606544.2022.2085183","url":null,"abstract":"ABSTRACT Since the inception of the quantification or qualification of global economic freedom, there has been increasing drive and competition towards for better financial freedom among the global economies. However, balancing the drive towards environmental sustainability and economic freedom, especially from the context of the Global Goals, has remained relatively ignored. Thus, this study tries to reveal the nature of the relationship, that is, a U- or inverted U-shaped hypothesis between economic freedom and environmental degradation in the case of Hong Kong Special Administrative Region of the People’s Republic of China (HKSAR). As the result of the investigation implied, economic freedom and environmental degradation exhibit a U-shaped relationship against the validity of the environmental Kuznets curve in the relationship between environmental degradation and income. The implication is that economic freedom poses more danger to the environment than income growth, especially when both experiences exponential increase. In any case, Hong Kong’s two principal energy sources (coal and oil) constitute a significant source of environmental damage. Moreover, there is Granger-causality evidence with frequency inference in favour of causality between carbon emission and all the explanatory variables except for the fossil oil consumption.","PeriodicalId":44903,"journal":{"name":"Journal of Environmental Economics and Policy","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2022-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45543351","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 : 2022-05-29DOI: 10.1080/21606544.2022.2077840
Paul R. Hindsley, C. Landry, K. Schnier, J. Whitehead, M. Zarei
ABSTRACT We estimate angler demand models with revealed preference (RP) and stated preference (SP) site selection marine recreational fishing data. We combine RP data from the Marine Recreational Information Program (MRIP) creel survey with SP discrete choice experiment survey data from 2003/2004. There are eight SP trip decisions and one RP trip decision for each of 1928 anglers who provided enough information to be analysed. Joint RP-SP generalized multinomial logit models are estimated. We find that the SP travel cost coefficient is much lower than the RP travel cost coefficient in absolute value, suggesting hypothetical bias in the SP data. This difference is reflected in the willingness to pay estimates, where the SP estimates for improved catch are much higher than the RP estimates. We use inferred attribute non-attendance (ANA) methods to identify respondents who may be ignoring the SP cost variable. The SP cost coefficient accounting for ANA is much higher in absolute value than the SP coefficient from the model that does not account for ANA. The ANA model indicates much more consistency between the RP and SP data. The smaller difference in the travel cost coefficients is also reflected in the willingness to pay estimates.
{"title":"Joint estimation of angler revealed preference site selection and stated preference choice experiment recreation data considering attribute non-attendance","authors":"Paul R. Hindsley, C. Landry, K. Schnier, J. Whitehead, M. Zarei","doi":"10.1080/21606544.2022.2077840","DOIUrl":"https://doi.org/10.1080/21606544.2022.2077840","url":null,"abstract":"ABSTRACT We estimate angler demand models with revealed preference (RP) and stated preference (SP) site selection marine recreational fishing data. We combine RP data from the Marine Recreational Information Program (MRIP) creel survey with SP discrete choice experiment survey data from 2003/2004. There are eight SP trip decisions and one RP trip decision for each of 1928 anglers who provided enough information to be analysed. Joint RP-SP generalized multinomial logit models are estimated. We find that the SP travel cost coefficient is much lower than the RP travel cost coefficient in absolute value, suggesting hypothetical bias in the SP data. This difference is reflected in the willingness to pay estimates, where the SP estimates for improved catch are much higher than the RP estimates. We use inferred attribute non-attendance (ANA) methods to identify respondents who may be ignoring the SP cost variable. The SP cost coefficient accounting for ANA is much higher in absolute value than the SP coefficient from the model that does not account for ANA. The ANA model indicates much more consistency between the RP and SP data. The smaller difference in the travel cost coefficients is also reflected in the willingness to pay estimates.","PeriodicalId":44903,"journal":{"name":"Journal of Environmental Economics and Policy","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2022-05-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"60176087","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 : 2022-05-11DOI: 10.1080/21606544.2022.2062455
T. Sunderland, D. Marsh, Jane Lusardi, C. Hudson, R. Waters
ABSTRACT Natural Capital Accounts extend traditional balance sheets to include valuation of non-market environmental benefits and asset values. They aim to bring the often-overlooked value of nature into decision-making, thus providing an effective decision-support tool. We compare Natural Capital Accounts to UK decision-support guidance, which leads us to three innovations that we apply to a case study of the National Nature Reserves in England. First, we use a reporting format, which explicitly reports gaps in quantification and valuation. Second, we provide ‘traffic-light’, confidence level information for our value results. Third, we report on the ecological state of assets and incorporate this evidence into the headline results. These innovations address common weaknesses whereby partial monetary values may mislead decision-makers and confidence levels are highly variable, yet often ignored. Information on the ecological state of assets is often only partial, non-systematic and not presented with the summary results. Producing this account required ecological and economic evidence to be treated as equally important. These three innovations produce an account that is transparent and provides a useful snapshot of the condition of natural capital assets.
{"title":"Meeting decision support requirements through natural capital accounts: a case study in England’s National Nature Reserves","authors":"T. Sunderland, D. Marsh, Jane Lusardi, C. Hudson, R. Waters","doi":"10.1080/21606544.2022.2062455","DOIUrl":"https://doi.org/10.1080/21606544.2022.2062455","url":null,"abstract":"ABSTRACT Natural Capital Accounts extend traditional balance sheets to include valuation of non-market environmental benefits and asset values. They aim to bring the often-overlooked value of nature into decision-making, thus providing an effective decision-support tool. We compare Natural Capital Accounts to UK decision-support guidance, which leads us to three innovations that we apply to a case study of the National Nature Reserves in England. First, we use a reporting format, which explicitly reports gaps in quantification and valuation. Second, we provide ‘traffic-light’, confidence level information for our value results. Third, we report on the ecological state of assets and incorporate this evidence into the headline results. These innovations address common weaknesses whereby partial monetary values may mislead decision-makers and confidence levels are highly variable, yet often ignored. Information on the ecological state of assets is often only partial, non-systematic and not presented with the summary results. Producing this account required ecological and economic evidence to be treated as equally important. These three innovations produce an account that is transparent and provides a useful snapshot of the condition of natural capital assets.","PeriodicalId":44903,"journal":{"name":"Journal of Environmental Economics and Policy","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2022-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42309191","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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