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Sustainable degrowth offers effective alternative strategies for tackling social and environmental problems such as climate crisis, resource depletion, biodiversity loss, and species hecatomb. However, it plays a marginal role in policy. Moreover, researchers need to operationalise many degrowth proposals in a more sufficient way for the policy. This mainly conceptual-methodological article conceptualises the problem of sustainable degrowth in policy as the problem of knowledge utilisation. How well research papers on the topic adapt to the needs of policy-makers is an important factor influencing this utilisation. This adaptation is under the control of researchers and may be seen as a necessary first step in the introduction of degrowth proposals into policy-making and further implementation. I argue that translating research papers into legislative drafts by researchers can be understood as adaptation of these papers to the policy-makers' needs. This is because the law can be understood as universal basis of public policies and fundamental language to express these policies. The legal system has a systematic, hierarchical, and logical structure while its language tends to be precise, clear, and unambiguous. Legal language may also be salient for many policy-makers. I labelled this way of adaptation as the Translational Legal Approach to Knowledge Utilisation (TLA). It can be applied beyond texts on sustainable degrowth as well. Based on the literature review, I theoretically and conceptually discuss the aforementioned hypotheses by looking at the corresponding criteria of research adaptation with characteristics of law and legal language. I provide the strongest support for the theses that translation of research papers into provisions of legislative drafts can increase readability, comprehensibility, precision, and operationalisation of degrowth research proposals, as well as helps to give them more systemic nature and incorporate policy-makers' context. Future research is needed to create a methodological framework for TLA as well as to empirically verify hypotheses made in this article. • Degrowth plays a marginal role in policies and needs better operationalisation. • The role of degrowth in policy can be seen as a problem of knowledge utilisation. • Law could be a common language between researchers and policy-makers. • Translating research papers into legislative drafts adapts them for policy-makers. • Translating degrowth proposals into legislative drafts supports their utilisation. [ABSTRACT FROM AUTHOR]

Abstract: It is generally recognized that firms face both internal and external pressures to improve their environmental performance. However, few empirical studies have attempted to delineate the importance of those various sources of pressure as managers themselves perceive them. In this study, we show that managers in the Canadian pulp and paper industry perceive the government and the public, but not financial and consumer markets, as the most important sources of pressure. We also show that involvement of the firm''s higher level management and environmental education of employees are important determinants of environmental performance. While the paper provides a better understanding of the key determinants of environmental performance, it reasserts the crucial role of strong government regulatory intervention. [Copyright &y& Elsevier]

Abstract: This study employs a parametric deterministic input distance function for computing the relative shadow prices of social capital with respect to physical capital and labor for household-level paper-recycling units in Vietnam. The results indicate that social capital has positive effects on the production efficiency of paper-recycling units. More specifically, the contribution of a 1% increase in social capital to production efficiency improvements is much greater than that of one million Vietnamese dong of physical capital, but less than that of 100 worker-hours of labor. Furthermore, associational activity and trust are the most valuable out of the four components of social capital and an increase of 1% in the measures of associational activity and trust is equal to an increase of US$364.936 and US$337.103 in the value of physical capital, respectively. The results also indicate that the relative shadow prices of the reciprocity and associational activity measures are highest for the lowest income group; whereas those of trust and information sharing are highest among the higher income groups. [Copyright &y& Elsevier]

Modern day societies and economies are becoming increasingly vulnerable to the continued erosion of the stocks and flows of essential ecosystem services. Thus, the management of complex socio-economic systems to effectively provide these essential services has become a global priority policy and academic research area. Understanding how underlying processes and functions contribute towards the provision of final ecosystem services can facilitate improved dissemination of credible, legitimate and salient information to decision-makers. This paper presents an ecosystem service value chain analysis framework that applies basic system dynamics modelling in the form of causal loop diagrams to facilitate an alternative analysis of ecosystem service value chains. A scoping application of the framework is applied to a case study for flood attenuation services in the Baviaanskloof catchment in South Africa. The framework enables the identification of forward linkages and ripple effects in individual value chains of final ecosystem services as well as the identification and assessment of challenges and opportunities within individual causal pathways. Ultimately, providing the potential to advance strategies for improving the efficiency and effectiveness of final ecosystem service provision. [ABSTRACT FROM AUTHOR]

We examine the price ambivalence of low quality waste paper (grades 1.02 and 1.04) on the German market. Since 1990 the price of these grades is at times positive and at times negative. The underlying reason is the combination of three institutional and technical characteristics of the market: (i) As a result of waste management legislation the supply of waste paper is mostly independent of its price and its demand. Supply is bounded from below by collection and utilization quotas fixed by the Regulation on Packaging Waste enacted in 1991. (ii) The only alternative to costly disposal of waste paper by dumping or incineration is its use as a secondary resource in the production of new paper, as only the paper industry is capable of using waste paper in a productive manner in significant amount. (iii) Yet, its use as a substitute for primary inputs is technically limited. In this article, we describe the technical and institutional conditions leading to price ambivalence and discuss the consequences for supply, demand and trade of waste paper. [Copyright &y& Elsevier]

Biodiversity markets offer considerable promise but are accompanied by controversies. Here, we map the utilization of native species (NS) from Brazil's biodiversity across eleven industrial sectors: foodstuffs, beverages, textiles, clothing, leather, wood, pulp and paper, biofuels, pharmochemicals, rubber and furniture. We show that there exists a diverse range of NS use in industrial products (48%) and activities (73%). These economic activities represent potential annual exports of approximately USD $50 billion. However, we found that only 1% of the potential business, USD $500 million of annual exports, is consolidated and can be traced to such products. We show that biodiversity markets and larger annual revenues locate in municipalities away from places in which biodiversity products originate. Therefore, the biodiversity business in Brazil remains largely untapped. This prompts a critical examination of the role of biodiversity within the Brazilian industry and its alignment with the Brazilian Biodiversity Law and the Nagoya Protocol. Our study is a pioneering effort that provides strategic recommendations. We suggest that the responsibility for sustainable NS utilization predominantly falls on sectors dominated by major corporations, most notably pharmochemicals and biofuels. These industry sectors possess the potential to lead the transition towards responsible and sustainable biodiversity practices within Brazil. [ABSTRACT FROM AUTHOR]

We analyse the results from a longitudinal natural field experiment that provides an environmental nudge by reinforcing positive environmental norms. Posters asking individuals to use less paper are pasted on printers (Times) and in office cubicles (Umendall) of two information technology firms around New Delhi, India. A third firm (India Mart) does not get the nudge and serves as our control. During the nudge period, employees of the firms that get the conservation message on average expend a significantly lower number of sheets per day as compared to the pre-nudge period, measured both in terms of paper used and paper wasted. Furthermore, after the nudge is removed, the per capita paper wastage for one of the firms that received it (Times) does not increase significantly over the next month and a half, whereas for the other firm (Umendall) it does but remains significantly lower than the per capita wastage in the pre-nudge period. In terms of total paper used, the nudged firms show a reduction in the number of sheets used several weeks after the nudge is removed. For the control firm, the wastage and usage of printer paper does not change significantly over the duration of the experiment. A robustness check with no nudge intervention done by computing per capita wastage and usage for the same dates exactly one year later does not show a reduction over the same time period and offers support for our conclusions. [ABSTRACT FROM AUTHOR]

Abstract: The production efficiency and shadow prices of three environmental outputs (BOD, COD, and SS) of 63 household-level paper-recycling units, from a recycling craft village in Vietnam, are assessed A two-stage procedure, linear programming and stochastic estimation, is used to estimate output distance function. Social capital as a production factor and environmental outputs are included in the output distance function. Results indicate that production efficiencies could potentially be improved by 28%. There is a substantial variation in the shadow prices of environmental outputs among the production units of different types of paper products. Furthermore, the average shadow prices of the three environmental outputs are all positive. This indicates a potential for improving environmental quality though introducing pollution-prevention methods to paper-recycling production processes in Vietnam (e.g., recirculation of wastewater), and suggests that it may be inappropriate to restrict the shadow prices of environmental outputs to be non-positive for the analysis of some production processes. [Copyright &y& Elsevier]

Pirgmaier's paper "The value of value theory for ecological economics" is a plea to ecological economists to take a greater interest in value theory and, in particular, to appreciate the Marxian labour theory of value. This paper first criticises this view and then proceeds to outline an alternative perspective, which suggests that the focus on value should be replaced by a focus on valuation processes and the role these processes play in the appropriation of goods and services. Furthermore, the importance of biophysical measures as a critical tool is emphasised, both to highlight exploitation and to promote understandings that can support sustainability transitions. [ABSTRACT FROM AUTHOR]

This paper analyzes the determinants of demand for Nordic Swan eco-labeled paper products and whether the factors determining the discrete decision to buy a Swan-labeled product are different from those that determine the quantity purchased. Using observed consumer purchase data from Denmark, we find that prices and socio-demographic characteristics have a strong impact on the decision to purchase a Swan-labeled good. The quantity consumed of Swan-labeled goods, on the other hand, is strongly affected by the availability of Swan goods, discounts, and household size. [Copyright &y& Elsevier]

This paper estimates the impact of the introduction of a tax on unsorted waste increasing the 35-l bag price from 0.24 to 1.95 CHF in 2013 in the canton of Vaud. Using panel data for 22 districts over the period 2010–2017, we identify the effects over time of the waste tax on unsorted waste and recycling. The neighbouring cantons of Geneva and Valais form our control group. The waste tax decreases the amount of yearly unsorted household-waste by about 47 kg, corresponding to a reduction of about one fourth per inhabitant. The effect is strongest the year after the introduction of the tax and is persistent over time. We further find a robust increase in organic waste recycling. For recycling of paper and glass, the effect is not clear-cut. Interestingly, in terms of weight, the reduction in unsorted waste is not fully compensated by increased recycling. Given that there are no signs for illegal waste disposal, this means that consumers probably reduced their total packaging bought. [ABSTRACT FROM AUTHOR]

The objective of this research was to determine whether willingness to bear the negative externality from water quality impairment differs between those who do and those who do not receive economic benefit from the impairment source. Differences were tested using a hedonic analysis of ambient water quality in two discrete housing markets in the Pigeon River Watershed, which have been polluted by the operation of a paper mill. The results suggest that North Carolina residents residing in subwatersheds with impaired portions of the Pigeon River, who experience economic benefit from the paper mill in addition to its harmful effects on water quality, do perceive the pollution as a negative externality. In contrast, the effects of both the degraded river and its contributing streams on property values are perceived as negative externalities by watershed residents in Tennessee who experience only harmful effects from the pollution. Differences in willingness to bear the water-impairment externality were not indicated by variables representing view of and proximity to impaired water bodies. The results suggest that the perception of water quality to which property owners implicitly apply value should be considered when establishing water-quality regulations. [Copyright &y& Elsevier]

The CPR school has successfully rebutted Hardin''s pessimistic Tragedy of the Commons model. However, in recent years, critics have focussed on the inward orientation and lack of contextual analysis characterising the writings of the CPR school.Oakerson [A Model for the analysis of common property problems. Working Paper R86-13. Workshop in Political Theory and Policy Analysis, Indiana University, 1986] and Ostrom [Governing the Commons. Cambridge, Cambridge University Press, 1990] have detailed the list of variables that have to be studied to understand the mechanics of collective action. However, these factors are internal to the community. Recent critics'' point out that the actions of individual agents are also influenced by the alternatives embedded outside the system. These variables are collectively labelled contextual factors.In our paper, we have analysed the case of a fishermen''s cooperative in the Calcutta Metropolitan District to show how the historic and economic context shapes targets of resource users and affects the feasibility of alternative courses to achieve the target by determining opportunity and transaction costs of actions. This indicates the importance of contextual factors in explaining the formation and evolution of the resource regime. [Copyright &y& Elsevier]

The demand for hydropower production, as a prominent sustainable development strategy, has created a boom in the number of planned hydropower projects, especially small ones. These projects are mainly located in post-socialist transition and developing countries. However, emerging evidence suggests that most of the projects remain on paper. One reason for this is prevalent corruption. In the literature, corruption has been identified in megaprojects but a significant number of hydropower projects are smaller in size. This leaves a literature gap and a subsequent lack of understanding regarding corruption and its potential connection to the absence of hydropower construction. We argue that it also creates a 'safe space' for corrupt actors who use the sector for personal gain. In this paper, we address this nexus of unfinished hydropower projects, sustainable development in transition countries, corruption, and lack of scholarly attention by presenting empirical evidence from Bosnia and Herzegovina. We highlight that sustainability goals associated with hydropower might be distorted, especially in transition countries as they are intermingled with hydropower projects that are embedded in complex bureaucratic structures. We conclude that focusing on the sector might improve its management, thus contributing to sustainable development, and also help to decrease the corruption risk. • Small hydropower projects have an increased risk of corruption. • Overlooking small projects create a "safe space" for corrupt actors. • Administrative complicatedness is one key factor behind corruption in the hydropower sector. [ABSTRACT FROM AUTHOR]

While many transition scenarios describe potential low-carbon systems, few link these system-level outcomes to the microlevel stakeholder decision-making needed to actualise them, resulting in a 'planning gap'. Closing this gap requires that insights from modelling-based transition scenarios on what must happen to achieve climate targets are linked to those on how to make it happen from stakeholder-focused transition scenarios. This link requires a different understanding of decision-making rationality from that of a representative agent with rational expectations, as employed in much climate-change modelling currently. Rationality conceived as 'frame-sensitive reasoning' can better account for heterogenous stakeholders' alternative preferences, the actions they take in pursuit of them, and the effect of these actions on low-carbon transitions. This paper augments the Intuitive Logics (IL) stakeholder-focused scenario approach to enable frame-sensitive reasoning and provide modelling-based transition scenarios with realistic innovation-diffusion assumptions. In so doing, the paper assists in closing the planning gap. [ABSTRACT FROM AUTHOR]

Do 'green' environmental concerns – such as about biodiversity, climate change, pollution – deter citizens from having children? This paper reports the first longitudinal evidence consistent with that increasingly discussed hypothesis. It follows through time a random sample of thousands of initially childless men and women in the UK. The paper shows that those individuals who are committed to a green lifestyle are found to be substantially less likely to go on later to have offspring. Probit and Weibull survival models are estimated. The results are robust to controlling for people's age, education, income, marital status, mental health, life satisfaction, optimism, and physical health. The paper's key estimated effect-size is substantial. A person entirely unconcerned about environmental behaviour is estimated to be just over 50% more likely to go on to have a child than a deeply committed environmentalist. • Will fertility decline because humans become so concerned about environmental damage? • Using UK data on thousands of randomly selected young adults, we provide the first longitudinal evidence that those who have environmental concerns and act in a 'green' way go on to have fewer children. • The estimated effect-size is large. [ABSTRACT FROM AUTHOR]

This article uses a longitudinal national U.S. dataset with 232,309 pairs of same-household observations to estimate one-year or two-year changes in recycling behavior. Most households recycled at least one material, as 83% recycle paper, cans, glass, or plastic in the past year, with an average recycling rate of 2.8 materials. Recycling habits are stable, as 68% of households do not change the number of materials recycled from the previous year. Changes in county recycling are reflected in immediate changes in household behavior but at 25% of the change in the county recycling rate. Recycling rates are greater after being newly exposed to deposit laws (+7%), moving to a state with effective recycling laws (+6%), or newly available single-stream recycling (+4%). If market prices for the returned cans doubled, household recycling of cans would increase by 12%, although price responsiveness of recycling other materials is less. Shocks to the household may diminish recycling in the short term, including marriage (−2%), arrival of a newborn (−1%), and either large increase in income (−1%) or large decrease in income (−3%). The estimates for the total number of materials and which particular materials a household recycles follow similar patterns. • A third of US households alter recycling, many due to personal and policy changes. • Recycling laws, deposits, and single-stream are associated with increased recycling. • Increases in prices for cans and glass are associated with increases in recycling. • Household shocks such as a 20% change in income or a newborn child disrupt recycling. • More than 80% of US households recycled at least one material in the past year. [ABSTRACT FROM AUTHOR]

This paper provides a perspective on the potential of Chinese ecological agriculture to address sustainable human–environmental interactions. As Chinese agriculture is increasingly challenged by the constraints of population, resources and environment emerging from its modern development, it is imperative to explore a sustainable agricultural paradigm that could accommodate economic and socio-cultural needs within an already stressed natural resource base. The rise of ecological agriculture is suggested as a workable alternative that has the potential to mitigate negative impacts of modern conventional agriculture and at the same time, to overcome limitations of traditional agriculture in meeting the needs of China''s growing population. Ecological agriculture represents a site-specific manifestation of the application of ecological economics, among others, to agricultural practices. Some challenges being experienced in translating this rhetoric into practice are identified and discussed. Highlighted is the view that sustainable agricultural development is meaningful only when it is tailored to specific ecological, economic, political and socio-cultural settings. [Copyright &y& Elsevier]

This paper is the first to calculate welfare, measured by the Index of Sustainable Economic Welfare (ISEW), for the EU-15 countries in a standardized and comparable way. This paper does so by building on a case study for Belgium by Van der Slycken and Bleys (2023) that puts forward a "2.0 methodology" with two distinct ISEWs that deal with cross-time and cross-boundary issues. Both welfare and GDP per capita improved in the EU-15 between 1995 and 2018. Yet, there is an important divergence between welfare and GDP: over time experiential welfare per capita and the per capita benefits and costs of present activities improved by respectively 10,5% and 13,4%, which is less than one third and half of the growth in GDP per capita that grew by 32,4%. These welfare trends are mainly driven by individual consumption growth, the shadow economy and welfare losses from income inequality, which compensated about half of the welfare gains of the former two categories. The gap between welfare and GDP diverged especially after the financial crisis when welfare started stagnating. At the end of the studied period, the EU-15 had already recovered from the financial crisis from a GDP perspective, but not from a welfare view. Since welfare in 2018 was less than 2% lower than the period-maximum, there is no conclusive evidence in favor of the threshold hypothesis at the level of the EU-15. However, the fact that welfare levels in nine countries are more than 5% lower than their peak values signals a clear threshold for these countries. Yet, welfare can be increased beyond previous peaks with postgrowth policies that focus on social and ecological welfare. • Two variants of the Index of Sustainable Economic Welfare with distinct time and boundary choices are compiled for the EU-15. • From 1995 to 2018, GDP per capita grew by 32,4% while welfare per capita only increased by 10,5% and 13,4%. • Welfare and GDP increasingly diverged, especially after the financial crisis when welfare started stagnating. • By 2018, the EU-15 had already recovered from the financial crisis from a GDP perspective, but not from a welfare view. • A majority of the EU-15 countries has a clear welfare threshold point with 2018-values being lower than period maxima. [ABSTRACT FROM AUTHOR]

This paper analyses the potential implications of the proposed European Union Deforestation Regulation (EUDR) and the recently adopted United Kingdom (UK) legislation on deforestation-free supply chains (henceforth 'the legislation') for different stakeholders in Brazil. These regulations intend to address global commodity-driven deforestation and forest degradation by ensuring that targeted commodities and products placed on (or exported from) markets are of minimal risk of being associated with - in the EU - deforestation and forest degradation or - in the UK - illegal deforestation. The paper examines potential compliance readiness in cattle, cocoa, coffee, palm oil, soybean and tropical timber supply chains in Brazil, indicating specific challenges that may arise. Through the construction of a "Compliance Likelihood Index", our research provides comparable indications to policymakers on sectors and stakeholders that may need stronger support to meet the requirements, in order to maintain Brazil's access to EU and UK markets. The paper indicates that coffee is the sector with the highest level of incentivization and smallest hurdles for compliance, while the cattle sector may face stronger challenges to rapidly adjust its production system towards a deforestation-free value chain and prove compliance. Results of our analysis also highlight the need for collaboration between the EU/UK and Brazil in order to promote alignment between domestic and demand-side legislations so that they are mutually reinforcing. Results of this exercise, which has a focus on the producer-country view of demand-side legislation, will contribute to discussions on the merits of different approaches to strengthen the governance of deforestation-risk commodity trade. [Display omitted] • Brazil's coffee sector may currently have the greatest likelihood of ready compliance. • Cattle may be the sector to which the regulations may pose the greatest challenges. • The EU and UK should focus on providing financial means and technical assistance for smallholders. • The EU and UK legislation will need to be accompanied by domestic policies and regulations in Brazil. [ABSTRACT FROM AUTHOR]

The literature on subjective well-being (SWB) and the environment has found robust evidence of positive net marginal SWB from pro-environmental behavior (PEB), that is, positive marginal SWB net of the associated costs in terms of money, time and effort (Finding 1). Accordingly, people could increase their SWB (utility) by behaving more pro-environmentally. In addition, net marginal SWB is found to be larger with respect to more costly than with respect to less costly PEBs (Finding 2). Finding 1 is at odds with rational choice theory's demand that marginal utility be equalized with marginal costs, that is, net marginal utility be zero. The finding can be (and has been) explained by decision error, that is, a failure in forecasting the well-being consequences of an act of choice. This paper uses the rational-choice decision-error framework to show that the net marginal SWB from a PEB is increasing in its marginal costs if the following holds: First, observed levels of PEB are the result of rational choice between PEB and a "conventional" counterpart; second, there is positive net marginal SWB at observed PEB levels (due to decision error); and third, the PEB and its counterpart are substitutes for each other. Furthermore, the paper argues that the ability of the rational-choice decision-error framework to explain not only Finding 1 but Finding 2 provides strong support for that framework. [ABSTRACT FROM AUTHOR]

Waste generated from electrical and electronic equipment, known as e-waste, is increasing worldwide. Developed countries like those in Europe produce the most significant proportion of e-waste worldwide and, therefore, rely on exporting it to other countries for waste disposal. As Europe is transiting towards a Circular Economy and tackling environmental-related problems, there has been an increase in environmental policies and regulations in this area. This paper presents empirical evidence of how European Union regulations have affected the exports of e-waste. Yearly data from 2010 to 2018 for a panel of 18 European Union countries were analysed using the PCSE (Panel-Corrected Standard Error) estimator. In order to measure environmental regulation, Environmental Tax Revenues from the manufacture of computers, electronic, and optical products were selected. The findings of this paper suggest that taxation is ineffective in reducing e-waste exports, with a tax on manufacturers actually increasing them. Also, high dependence and sub-standard e-waste collection systems increase e-waste exportation. Given that countries often depend on foreign raw materials, a sensible approach would be to invest in collection points for e-waste to take economic advantage of this waste's vital elements. [ABSTRACT FROM AUTHOR]

It is argued that the political feasibility of climate mitigation policies depends heavily on their distributional effects. This paper therefore studies the distributional effects of the European Commission's Fit-for-55 package at the household level in seven EU countries, analyzing a carbon tax on transport and heating fuels as well as variations of a lump-sum refund. Based on the resulting income distributions, different inequality measures are computed. The paper aims to extend previous methodological approaches by including inequality measures such as the Theil index and Atkinson index and comparing the results of carbon taxes on transport and heating fuels for seven EU countries in a consistent manner. I find that a household-size specific lump-sum refund not only mitigates the negative distributional effects of a carbon tax but also reduces overall inequality compared to the baseline scenario without a tax. [ABSTRACT FROM AUTHOR]

The Sappi Saiccor mill in Umkomaas, KwaZulu Natal (KZN) Province, is a global pulp producer. It is also a major emitter of noxious substances in the heavily polluted and historically marginalised South Durban area. Taking a qualitative, narrative approach, this paper examines Saiccor's legacy of contamination, community opposition to the mill, and responses of state actors responsible for governing industrial risk. Through a conceptual framework combining theories around participatory environmental governance, legitimacy and state capture, the article explores the extent to which measures deployed by/on behalf of the Sappi Saiccor mill to engage with local residents and activists can be considered legitimate. The paper argues that prevalent corporate instrumentalism and a lack of political will continue to undermine the legitimacy of community engagement processes, which remain characterised by mistrust. It concludes the South African state cannot be relied upon to support genuinely inclusive, deliberative, empowering and reflexive governance practices. It is therefore left to organised civil society to force discourse beyond hegemonic, ecologically-modernised, technocentric ideals, and to bring issues of power, agency, and social justice to the fore of public and policy debate. The way might then be paved for strong political leadership committed to transparent, equitable environmental governance processes. [ABSTRACT FROM AUTHOR]

This paper investigates how the notion of degrowth directs our focus as researchers, which leads us to deliberate on the consequences of empirically placing degrowth 'in the world.' We propose to rethink methodological questions about how phenomena are put into relation with notions of degrowth (or not) – and our own role as researchers in this process. Mobilizing the concept of diffraction, we argue that careful attention must be paid to what notions of 'degrowth' do in/to our research practices, including their role in researchers' selecting, thinking and talking about social phenomena – as well as the material and discursive practices encountered in fieldwork. This is illustrated through engagement with two studies, which undertook research on a housing community in Manchester (United Kingdom) and eco-social entrepreneurs in Stuttgart (Germany). Analyzing these cases with a diffractive lens, we show how an attunement to difference allows for attention to be paid to the 'translation' and 'operationalization' of degrowth in (research) practice. This orientation, we suggest, can help scholars with the inevitable negotiations intrinsic to the choice of how and whether to engage with and understand degrowth in empirical research. [ABSTRACT FROM AUTHOR]

Composite indicators are widely used to represent sustainability or its underlying dimensions. Nonetheless, an alignment between the multiple choices made during their construction and the underlying conceptual framework is often lacking. This reduces the relevance of the composite indicator. This paper provides an overview of the theoretical implications of the choices made during the construction of strong sustainability indices, particularly focusing on reflecting environmental sustainability and the limited substitution capacity between different types of capitals. The theoretical perspective is complemented through an uncertainty analysis of the Strong Environmental Sustainability Index and the Sustainable Human Development Index in which the quantitative implications of choices made in the indicator selection, normalisation, weighting and aggregation processes are assessed. The results show that different choices significantly affect country scores. Given the conceptual implications of these choices in relation to strong sustainability, we conclude that the choices made during the construction of a composite indicator need to be aligned with the underlying conceptual framework. In a context in which a growing number of composite indicators is produced every year, it becomes of utmost importance to make sure that those that percolate to the decision-making process monitor what they are intended to monitor. • Choices in sustainability indices are not aligned with the conceptual framework. • The conceptual implications of different choices are described. • The practical implications of different choices are quantified using SESI and SHDI. • The results show that different choices significantly affect country scores. • The choices made need to be aligned with the underlying conceptual framework. [ABSTRACT FROM AUTHOR]

We propose a simple diagnostic check for face validity assessment of willingness to pay (WTP) estimates derived from choice experiments (CEs). The check is based on a threshold value for WTP that is related to the highest cost attribute level, which can be used to assess plausibility of estimated WTP. If the threshold value is exceeded, WTP estimates are considered to overshoot. This may be due to issues with (i) the design of the CE and/or (ii) respondents' behavior deviating from assumptions underpinning CEs. Applying the check to a sample of publications, this paper provides evidence on the incidence and magnitude of overshooting of WTP in the agricultural and environmental CE literature. Based on a random sample of publications including 304 observations representing individual studies and population samples, the results show that overshooting of WTP is widespread, with 65% of observations exceeding the overshooting threshold value. An exploratory analysis to identify factors associated with overshooting of WTP across studies reveals that study design factors, and in particular the design of the cost attribute, play an important role. We recommend that researchers apply the diagnostic check for the design of choice experiments and to motivate further scrutiny of choice experiment results. • We present a simple check of plausibility of WTP estimates from choice experiments (CEs). • We apply the check to a large sample of choice experiment studies. • We find that 65% of studies fail the face validity check: WTP "overshoots". • Overshooting points to concerns with study design or respondent behavior. • The check should be used for CE design and to scrutinize CE results. [ABSTRACT FROM AUTHOR]

Efforts to address the consequences of growth-oriented economics through efficiency-oriented strategies have been ineffective, while sufficiency strategies and absolute reduction of consumption face implementation challenges. The role of money in the reduction of consumption is complex and largely an unclear phenomenon. In this paper, we critically review the concept of money in sufficiency research, categorize its appearance in solutions and problems, and map out the sufficiency aspects of money in a suggested framework. Our results show two conflicting perspectives among scholars. Many developed solutions in sufficiency literature are money-dependent and aim to refine current organized economic activities towards sustainability goals. In contrast another group of solutions suggest avoiding money and all money transactions for pursuing sufficiency. On the basis of a critical review and qualitative analysis, this work evaluates assumptions and interpretations in the field, suggests a framework for assessing sufficiency aspects of money and contributes to efforts in the area of operationalization of sufficiency by questioning money from a conceptual perspective. • The role of money in reducing consumption and promoting strong sustainability is complex. • Purchasing power, profit, distribution of wealth, and monetary system are the aspects of money relevant to sufficiency. • In sufficiency research, money appears both as an enabler of solutions and a source of problems. • To overcome barriers, a system of money-avoiding solutions that support each other at all levels is necessary. [ABSTRACT FROM AUTHOR]

Trade-induced carbon transfer generates significant impacts on global carbon emissions, leading to carbon inequality (CI). This paper introduces a novel indirect metric, the trade-induced domestic carbon share (TDCS), designed to quantify economies' carbon benefits from international trade. Based on data from 17 manufacturing sectors in 66 major economies, this study compares the impact of developed and developing economies' participation in global value chains (GVCs) on TDCS, offering insights into trade-related carbon inequality. Our analysis reveals that GVCs participation by developed economies generally decrease their TDCS, in contrast to an increase in developing economies, thereby exacerbating carbon inequality. Notably, backward participation in GVCs reduces TDCS across all economies, whereas forward participation in GVCs results in increased TDCS in developing economies but a decrease in developed ones. Additionally, our study indicates that developed economies enhance their position in both forward and backward GVCs but experience a decline in the ratio of domestic value added (DVAR). In contrast, developing economies strengthen their forward GVCs position and DVAR but weaken their backward GVCs position. These findings offer new perspectives on carbon inequality in international trade and provide valuable guidance for policymakers in devising industrial trade and carbon reduction strategies. [ABSTRACT FROM AUTHOR]

This paper explores the link between income, and wealth inequality and the ecological footprint in France, Netherlands, United States, and United Kingdom from 1962 to 2021. Based on theoretical considerations, we allow the relationship to vary over time. Our analysis provides some support for income inequality influencing ecological footprints, specifically through carbon emissions. Yet, we do not observe a significant effect on non‑carbon footprints. Notably, the link between income inequality and carbon emissions shifted from negative in the 1960s to positive from the late 1980s onwards. Over all our findings imply that economic inequality's impact on the environment is likely limited and context dependent. • We test the relationship between economic inequality and the ecological footprint. • The results indicate a weak relationship that varies over time. • Inequality only affects the carbon footprint and not the non‑carbon footprint. • Changes in consumption patterns may partially explain the time varying effects. [ABSTRACT FROM AUTHOR]

This paper compares the performance of conventional and organic fruit farms in Spain, using a set of base indicators to assess their economic and environmental performance on a per hectare basis. Composite indicators are also calculated to measure the overall economic and environmental performance of both production systems. Comparisons are made using propensity score matching to minimize the non-randomization biases caused by structural differences between the samples of conventional (n = 552) and organic (n = 127) fruit farms sourced from the Spanish Farm Accountancy Data Network (RECAN). The results based on per hectare metrics point to modest changes in the performance of farms that converted to organic farming. This is mainly because most converted farms were former conventional farms characterized by lower profitability and less intensive input use, consequently minimizing the effects of the conversion process. Nevertheless, the conversion outcomes exhibit a degree of variability depending on the specific type of fruit production. Economic gains are only discernible in the case of nut farms, whereas fruit and tropical fruit farms tend to yield the most favorable results per hectare from an environmental perspective. • Changes in per hectare performance are assessed when fruit farms convert to organic. • A complete set of economic and environmental base and composite indicators is used. • A matching procedure is implemented to obtain unbiased difference estimators. • Small changes are found in the per hectare performance of farms after conversion. • Mixed results depending on the type of fruit production subsector considered. [ABSTRACT FROM AUTHOR]

There is an ongoing debate on complementary currencies' (CCs) contribution to a transition towards resilient and sustainable economies. As part of this debate, this paper investigates which factors lead to significant acceptance and sufficient growth of a CC from a bottom-up perspective, i.e., based on its members' decisions. First, we identify the benefits and costs driving firms' use of CCs and find four factors that constitute a trade-off: credit gains, reciprocity expectations, coordination costs, and intrinsic motivations. Second, we use an agent-based model to explore how these elements determine CCs' success as a network. Our key finding is that the coupling of intrinsic motivation with preferential attachment – a phenomenon where members are more likely to transact with each other rather than with outsiders – may be the key to growth and acceptance: these results suggest that intrinsic motivation provides an incentive to join the network, but preferential attachment is the emerging economic rationale that drives firms' acceptance of CCs. The identified trade-off and the theory of intrinsic motivation-preferential attachment provide new avenues to investigate under what conditions CCs contribute to resilient economies. [ABSTRACT FROM AUTHOR]

This paper focuses on the ecosystem service benefits to homeowners from living in close proximity to three National Parks. Knowing these ecosystem service benefits is of policy and management relevance as expansion of existing Parks and protected areas along ecosystem boundaries often requires acquisition of undeveloped private land or other multiple use public lands, something that local officials may oppose. While the effects on house prices from urban parks, and two other types of U.S. Federal lands have been studied, the effect of lands in the U.S. National Park System on house prices had not been studied at the time of this research. To fill this information gap, hedonic price models were estimated to calculate the effect on residential house prices of proximity to three National Parks (NPs). After controlling for other characteristics of the house, neighborhood, and several other types of open space (e.g., National Forests, County Parks), we estimate house sale prices were on average 9.8% higher for houses within 2 km of National Park boundaries. This house price premium represents the value of the ecosystem services received by homeowners from living in close to these NPs. Quantifiable information on local ecosystem service benefits may ameliorate some concerns by local governments about converting private land or other agencies' multiple use lands in order to expand NPs or protected areas to better reflect ecosystem boundaries rather than historical, and often arbitrary boundaries. In addition, quantifiable information on enhancement of property values may broaden stakeholder groups to include the real estate industry. Thus, our results may support agencies in better achieving their objectives of managing NPs as ecological units. [ABSTRACT FROM AUTHOR]

Modern economies rely on economic growth for stability and prosperity. Further, periods of stagnation and recession are currently associated with poor health and wellbeing outcomes for citizens. However, 50 years of research indicates that this state of dependency is ecologically unsustainable. It is therefore critical that we better understand the growth dependency of our economies and welfare systems, and how to overcome it. In this paper we first offer a working definition of growth dependency, clarifying its core dimensions. Next, taking the UK's adult social care sector as a case study, we argue that growth dependencies emerge in the welfare state as a result of three distinct dynamics: 1) growth in manifest needs; 2) labour productivity growth; 3) the pursuit of economic rents. Lastly, we propose a novel, sector-led framework for identifying, analysing and transforming growth dependencies. We make the case that the growth dependency of the welfare state is not inevitable, but is instead the product of specific social, economic and structural factors that can be disrupted and transformed, if we can find the political will to do so. [ABSTRACT FROM AUTHOR]

Marine turtle species in the Asia-Pacific region face loss of habitat, population decline and serious risk of extinction. Understanding the associated loss in human welfare can motivate conservation finance, policy reforms and other actions to protect and restore marine turtle populations. This paper estimates non-use values for marine turtles in the Asia-Pacific region using a large-sample (n = 7765) global household survey. The survey focused on six countries in the region (China, Fiji, Indonesia, Malaysia, the Philippines and Vietnam) but received responses from over 80 countries in total. A discrete choice experiment was used to elicit willingness-to-pay (WTP) for marine turtles, defined in terms of population trends (increasing, stable or declining) and species diversity (avoided extinctions). We find that a high proportion of households (82%) expressed a positive WTP for turtle conservation, and that the donation amounts are substantial. The median WTP for ensuring stable marine turtle populations, adjusted for demographic differences between the survey sample and the general population, is estimated at US $79 per household per year. A scenario analysis is used to estimate the economic welfare changes that would result from policy inaction (in which turtle populations continue to decline and two species become extinct) versus strong policy action (resulting in increasing turtle populations and no extinctions). The welfare loss that results from not acting is estimated to be US $40 billion per year, whereas the potential welfare gain from taking policy action to conserve, manage and protect marine turtles is estimated at US $55 billion per year. These results present a strong economic justification for governments across the region to align their environmental policies and budgets with Asia-Pacific peoples' stated WTP for turtle conservation. [ABSTRACT FROM AUTHOR]

This paper demonstrates how the slope of a production possibilities frontier (PPF) can be used to empirically identify the presence of an ecosystem externality. Complementarity between non-market ecosystem services implies the PPF between these services may be upward sloping. In contrast, private landowners that ignore these complementarities will treat non-market ecosystem services as competing products thereby ensuring a downward sloping PPF. Using data from 738 U.S. watersheds, we compare the slope of PPFs on predominately private and predominately public watersheds. We find evidence that private markets are failing to internalize complementarities between forest habitat and two other non-market ecosystem services: instream flows and grazing. In addition, we show how three-stage least squares regression can be used to reduce endogeneity bias associated with more common approaches to estimating ecosystem service relationships. [ABSTRACT FROM AUTHOR]

Whether environmental regulation incentivizes green technology innovations is debated in the literature. The potential endogeneity of environmental regulation is the major empirical challenge for identifying the causal effect of environmental regulation on green technology innovations. To address this issue, we use the quasi-natural experiment of China's Total Emission Control Policy as exogenous shocks of environmental regulation. Specifically, we construct a new dataset of the city-level emission reduction mandates and employ the difference-in-difference-in-differences estimation to explore how stringency of environmental regulation affects green technology innovations. The empirical results show that environmental regulation promotes green innovations. Further mechanism analysis shows environmental regulation can attract "new entrants" to join the green technology market and launch more green innovations. This paper further explores the significance of environmental regulation in narrowing the gap between green and non-green technologies. [ABSTRACT FROM AUTHOR]

Women face severe gender-specific constraints and have minimal part in the farm decision-making systems in sub-Saharan Africa. This leads to additional barriers in the adoption of climate-smart agriculture (CSA) technologies. This paper contributes to the gender debate by focusing on intra-household gender dynamics that influence the adaptive capacities of small-holder farmers. Using a multi-country approach, and considering Ethiopia, Malawi, South Africa, and Tanzania as case studies, an endogenous-switching poisson regression model was conducted to (i) assess factors influencing the probability of women's engagement in agricultural technology decision-making; (ii) ascertain the effect of women's participation in farm decision-making on climate-smart agriculture adoption. The findings indicate a degree of complexity in women's roles within their communities and family contexts. While in Malawi women participating in the farm decision-making process positively affects CSA adoption, in the other countries their role remains marginal or negatively related with farm sustainability. Such women's empowerment is indeed influenced by the existence of social, regulatory, and cultural elements that uniquely define the considered countries. Context-specific policies that prioritize rural-women, youths, and other marginalized groups can enhance CSA adoption and thereby contribute to the Sustainable Development Goals such as gender equality, climate action and zero hunger in developing contexts. [Display omitted] • The CSA adoption by women is influenced by their involvement in intra-household decision-making. • In Malawi, women's involvement in decision-making positively influences CSA adoption. • Socio-cultural drivers of women involvment in decision-making settings are context-specific. • In Malawi, Tanzania and South Africa land ownership influences women's authority. • CSA policies should be context-sensitive and prioritize marginalized groups. [ABSTRACT FROM AUTHOR]

The EU has committed to make Europe the first climate-neutral continent by 2050. Reaching this objective requires massive changes in the region. The biggest challenge is that the green transition happens without sacrificing economic progress and guaranteeing justice and inclusiveness. This pledge implies that every country be capable of addressing the trade-offs between targets while remaining committed towards the common decarbonisation goal. Our paper analyses the success with which countries are carrying out the energy transition. We propose an enhanced hyperbolic distance function and a stochastic frontier analysis approach to model the joint attainment of economic development, environmental sustainability, and energy equity. We apply our model to an unbalanced panel dataset of 29 European countries for the period 2005–2018. Our estimates show that the average performance of the economies has improved over time. The results also highlight the pivotal role of a sustainable economic development with clean energies for both slashing CO 2 emissions and fostering energy equity. Moreover, we find convergence in countries' performance, being this convergence slightly higher for the EU-15 countries compared to the rest. Finally, we show that a higher share of renewable energy sources helps countries that are lagging behind to reach their optimal performance level. [ABSTRACT FROM AUTHOR]

Identifying the main drivers of the household carbon footprint (HCF) is a priority to reduce greenhouse gas emissions and move towards a more sustainable economy. Among the multiple factors that explain the HCF, some previous research has confirmed the relevance of gender. In this paper, we calculate the HCF of individual Spanish households using an environmentally extended multi-regional input-output model (EEMRIO) that quantifies the emissions embedded in the supply chain of goods and services that households consume. We assess the differences in consumption and emissions patterns, measuring the gender effect by a new variable, the female share of the household. This represents a remarkable improvement over previous literature that used simpler approaches. Moreover, we assess the partial effect of gender on HCF using multivariate regressions for total and sectoral emissions. Our results show that households with a majority of men have a higher HCF and carbon intensity. Even when controlling for economic, sociodemographic, and regional factors there are differences in the sectoral emissions according to gender. Female households spend more (and generate more emissions) on housing and food products, while male households show that pattern for restaurants and transport. These results can help orientate environmental campaigns and demand-side mitigation policies. • We calculate HCF for individual Spanish households using HBS data and EEMRIO. • We introduce the gender effect through the new indicator "female share in households." • Households with a majority of men have a higher HCF and carbon intensity. • The higher the proportion of women in a household, the higher the HCF in housing and food. • The higher the proportion of women in a household, the lower the carbon footprint in restaurants and transportation. [ABSTRACT FROM AUTHOR]

Efforts to assess the possibilities for decoupling economic growth from resource use and negative environmental impacts have examined their historical relationship, with varying and inconclusive results. This paper shows that ambiguities in the historical measurement arising from definitional changes to GDP are sufficiently large to affect the results. I review the history of structural revisions to GDP using the example of the United States, and on international comparisons of purchasing power parity, and compare decoupling results using GDP vintages reported between 1994 and 2021 for most countries. Between vintages, 10–15% of countries switch between relative decoupling and recoupling from energy or materials on decadal intervals, and up to as many countries as decouple absolutely in an older vintage stop or newly start absolutely decoupling in the newer vintage. GDP vintages also affect environmental Kuznets curve results on absolute decoupling in Grossman and Krueger's seminal paper and accelerate the International Energy Agency's annual global decline in energy intensity by up to −0.2 percentage points. Inconsistencies in economic measurement introduce ambiguity into historical decoupling evidence and model projections into the future. To advance debate, rigorous reporting and sharing of data vintage for subsequent comparison and replication are urgently needed. [ABSTRACT FROM AUTHOR]

Voluntary environmental arrangements generally coexist with State-based and private rules, creating a property rights system that legitimizes certain behaviors. In a world of positive transaction costs, legitimacy ensues from imperfect monitoring activities, opening room for opportunism. In this paper, we discuss how the existence of multiple rules in a scenario of high monitoring costs affects the performance of an environmental policy. We discuss the case of deferred prosecution agreements (TAC, acronym in Portuguese), which are voluntary arrangements designed with the goal of incentivizing slaughterhouses to monitor the environmental practices of ranchers in the Brazilian Amazon. More specifically, we study how the signature of a TAC agreement affects deforestation rates in the Brazilian Amazônia Legal region at the municipality level. This paper adopts a difference-in-differences approach to analyze a sample of Brazilian municipalities between 2006 and 2017. Our results, which remain robust across alternative estimators and subsamples, show that the signature of a TAC agreement increases deforestation rates by 0.2 standard deviations. We argue that the signature of a TAC agreement, by creating an imperfect proxy for "good behavior" that enables both compliant and non-compliant organizations to access credit, may incentivize deforestation in the Brazilian Amazon. [ABSTRACT FROM AUTHOR]

The dominant conception of the circular economy presents it as a politically neutral, technology-driven process of efficiency improvements and green market expansion. However, it does not consider the social embedding of circularity and thereby risks undermining the transition out of de facto linear economies. This paper begins with a critique of the dominant conception of the circular economy and its shortcomings in relation to allocation, justice, and sustainable scale. Second, the paper contributes toward theorizing an alternative, social economy-based embedding of circularity. We theorize how the social economy embeds circularity through: (1) business models reflecting the needs and interests of their stakeholders and, with them, a primacy of social value creation; (2) production and consumption based on active citizen involvement in deliberation and decision-making; (3) an approach to technology that seeks to empower technology users; and (4) the promotion of regional economies and circular value chains based on a sense of place. Our theory propositions are inspired by prior empirical research at the intersection of the circular economy and the social economy. We discuss the potential and the challenges of a social economy embedding of circularity against the background of vested interests and incumbents profiting from low circularity and unsustainability. • A critique of circular economy in relation to allocation, justice and scale. • A novel theoretical approach to social economy-based embedding of circularity. • Theory propositions about business, governance, technology and environment. • Reasons for stasis and for transformation toward socially embedded circularity. • Examples of social economy-embedded circularity from cooperatives and nonprofits. [ABSTRACT FROM AUTHOR]

Climate transparency through firms' disclosures is often considered a prerequisite for the redirection of investments toward low-carbon economy. In order to provide effective incentives to improve this transparency, it is therefore crucial to identify its drivers. In this paper, we investigate the determinants of two stages of climate transparency: i) the likelihood of responding to the CDP questionnaire; and ii) the extent to which companies comply with the TCFD recommendations. Using a global sample of 571 firms over the period 2020–2021, we estimate a Two-Part Fractional Response Model. First, the results confirm the relevance of considering two stages of climate transparency as the drivers that explain the first stage differ from those explaining the second. We find evidence that variables related to environmental/climate performance and commitment are good predictors of firms' transparency regarding climate risks and opportunities. Our results show that climate transparency is strongly influenced by governance mechanism variables (apart from gender diversity). We also highlight that regulatory factors only impact the second stage of climate transparency. • The paper investigates the drivers of corporates' voluntary climate disclosures. • The first stage of climate transparency is the likelihood answering the CDP survey. • The second stage is the level of compliance with TCFD recommendations. • The study sample consists of 571 international firms over the period 2020–2021. • Determinants differ according to the two stages of transparency and regions [ABSTRACT FROM AUTHOR]

The Latin America and the Caribbean region has benefited significantly from economic growth driven by the extractive sector. At the same time, the region has experienced high levels of conflicts related to this sector. This paper presents an overview of citizens' perceptions of the extractive industries in Bolivia, Colombia, Ecuador, Peru, and Venezuela. Using a representative sample for each country, we identify regional and country-specific determinants of the societal social license to operate (SLO). The societal SLO is an unwritten license of social approval accorded to extractive projects by citizens at large. This paper investigates social acceptability, capturing public sentiment toward the mining and the oil and gas sectors. We analyze 6,806 responses from a telephone survey conducted during the first quarter of 2021 employing a Random Digit Dialing (RDD) strategy to contact citizens. While our findings confirm that perceptions vary across countries, we show that governance is the strongest predictor of societal SLO, consistent with the literature's evidence. In addition, procedural justice, distributive justice, and nationalism play essential roles in shaping individuals' attitudes. We corroborate regressions' results with non-parametric tests. These findings suggest that strengthening government institutions and their perception could contribute to preventing conflict around extractive industries. [ABSTRACT FROM AUTHOR]

Environmental concepts are performative in that they help create the environment they describe. This paper explores the performativity of the ecosystem services concept in the field of integrated water management in Flanders (northern Belgium). The data was collected from 23 in-depth interviews with professionals in the field, conducted in two rounds with a five-year interval and complemented with on-site observations of practices applying the concept. Results indicate that ecosystem services was only marginally performative on its own, and rather was seen as a 'co-performative concept' that – in conjunction with existing concepts – could accelerate the envisioned integration process through promoting initiatives, mobilising stakeholders, shaping orientation, creating win-win situations, and more. Yet, despite these aspirations, the concept has in general failed to perform as expected. Many perceived ecosystem services as an academic concept, too complex for practical application. Common strategies were either to adapt the concept to fit one's professional context or to create a new practical context (a stakeholder workshop, for example) where the concept could function. The paper goes on to discuss the more general implications of the (pseudo-)malleability and context-dependence of the ecosystem services concept. • ES works as a co-performative concept in support of policy integration. • The co-performativity of ES goes together with greater context dependence. • ES works best in an arrangement which ensures its functioning in real-world. • Selective interpretation of ES easily gives rise to distrust. [ABSTRACT FROM AUTHOR]

This paper takes stock of the achievements and gaps of the emerging field of ecological macroeconomics, which has brought insights from specific schools of macroeconomics—most notably post-Keynesian—to ecological economics, with a strong emphasis on the endogeneity of money. Ecological macroeconomics has proposed fiscal, monetary and prudential reforms to boost 'green' investments, and developed new modeling frameworks to explore the interactions between the financial, macroeconomic and biophysical spheres. While these proposals open a broader range of possibilities to engage in a socio-ecological transition than those offered by the current paradigm of a financialized global economy, they paradoxically suffer from similar limitations. By placing much faith in 'green' investments, they impose a vision of the transition that presents strong technical and institutional limitations. The field also fails to revisit its own understanding of macroeconomics and of specific phenomena—e.g. financial instability—through a biophysical lens, in spite of increasing transdisciplinary evidence supporting this approach. We suggest overcoming these limitations through institutionalist perspectives that understand money as a language through which value is created and legitimized. Those perspectives seem essential to re-embed the governance of money within a worldview that acknowledges the finiteness and incommensurable values of Earth's life support systems. • This paper examines ecological macroeconomics' (EM) foundations and policy proposals. • EM brings critical insights on endogenous money theory to ecological economics (EE). • Yet, it places too much faith in the 'capabilities' of so-called 'green' investments. • It also fails to revisit the foundations of macroeconomics through insights from EE. • Overcoming these limitations requires integrating institutional approaches to money. [ABSTRACT FROM AUTHOR]