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Copyright of Vestnik KazUTB is the property of Kazakh University of Technology & Business and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The article discusses the importance of integrated transport and logistics systems for sustainable global trade. It highlights recent disruptions to global supply chains caused by events such as the COVID-19 pandemic and trade wars, which have led to the need for supply chain reconfiguration and increased resilience. The article also emphasizes the role of decarbonization and digitalization in shaping the functions and roles of international transportation and logistics. It presents three research papers that explore various challenges and opportunities in transport and logistics integration, including inland terminal location selection, international logistics policies, and the optimization of air-rail freight transportation. The article concludes by suggesting future research directions, including the incorporation of decarbonization indicators and the use of IoT and big data for real-time modeling of greenhouse gas emissions. [Extracted from the article]

Supply chain carbon abatement is an important way to promote low-carbon transformation of the social economy and address global climate change. This paper analyzes the issue of supply chain carbon abatement under different power structures, as well as the effect of consumers' low-carbon preference and carbon tax rate on the optimal decisions. This paper constructs five different models, namely ML-NO model, ML-CS model, RL-NO model, RL-CS model and VI model. The research finds that VI model is the most ideal model for promoting supply chain carbon abatement. The optimal abatement efforts, market demand, and total profits in the VI model are all the largest among the five models. Whether the supply chain leader is the manufacturer or the retailer, cost sharing contract can enhance optimal abatement efforts, market demand, and profits of both parties. In any model, the leader in Supply chain earns higher profits than the follower. When consumers' low-carbon preference increases, the optimal abatement efforts, market demand, and profits of both parties will all increase, and the growth rate is gradually accelerating. For the manufacturer with high carbon emissions, when the carbon tax rate increases, the optimal abatement efforts first increase and then decrease. For the manufacturer with low carbon emissions, when the carbon tax rate increases, the optimal abatement efforts will also increase. [ABSTRACT FROM AUTHOR]

This article discusses the importance of climate risk and environmental accounting in corporate reporting. It highlights the increasing concern over climate risk and its impact on companies' operations and performance. Stakeholders from various spheres are advocating for a transition to a low-emissions economy, pressuring organizations to disclose their climate-related risks and governance systems. Legislative developments, such as the Paris Agreement and the Task Force on Climate-Related Financial Disclosures (TCFD) recommendations, have further intensified the pressure on firms to integrate climate risk management into their accounting processes. The article features a collection of papers that explore different aspects of corporate reporting and how firms have responded to recent legislative and policy developments regarding climate risk disclosures. [Extracted from the article]

Accounting and finance are intricately intertwined with the global quest for environmental sustainability by applying accounting and finance tools for carbon reduction initiatives. Clean energy financial investment is one of the many alternative tools through which accounting contributes to carbon reduction. Accordingly, this paper analysed the impact of separate and integrated clean energy investment alternatives on carbon reduction. Data on clean energy financial investment and carbon emission per capita were collected from the International Energy Agency (IEA) and Our World in Data archives, respectively. Data was analysed by using multiple pooled OLS to evaluate the impact of individual clean energy financial investments on carbon reduction and the impact of integrating the various clean energy financial investment alternatives on carbon reduction separately. Findings show that individual clean energy financial investments may not separately offer desired carbon reduction, hence, albeit some negative coefficients, individual clean investments showed no significant impact on carbon reduction. However, furthering the test by pooling all the clean energy financial investment alternatives shows a significant negative effect of clean energy financial investment on carbon reduction at a P-value of 0.05. This shows that an integration of different alternatives of clean energy financial investment may offer an enhanced reduction of carbon emission, which outweighs the effect of relying on a single clean energy investment alternative. The findings offer significant insight for policy makers' future strategies towards a combination of multiple clean energy financial investments. Furthermore, the findings from this paper are a further testament that accounting and finance are connected with the global quest for environmental sustainability through the application of accounting and financial investment tools in conducting clean energy financial investment. [ABSTRACT FROM AUTHOR]

Purpose: The research objective of this paper is to investigate the direct and indirect impacts of green finance on agricultural carbon total factor productivity (ACTFP) within the framework of the carbon peaking and carbon neutrality (dual carbon) goals, while also identifying the driving factors through an exponential decomposition of ACTFP, aiming to provide policy recommendations to enhance financial support for low-carbon agricultural development. Design/methodology/approach: In this paper, the Global Malmquist Luenberger (GML) Index method was employed to analyze and decompose the ACTFP, while the direct and spillover effects of China's green finance pilot policy (GFPP) on ACTFP were assessed using the difference-in-differences (DID) method and the spatial differences-in-differences (SDID) method, respectively. Findings: After the implementation of the GFPP, the ACTFP in the pilot area has experienced significant improvement, with the enhancement of technical efficiency serving as the main driving force. In addition, the GFPP exhibits a positive low-carbon spatial spillover effect, indicating it benefits ACTFP in both the pilot and adjacent areas. Originality/value: Within the framework of the dual carbon goals, the paper highlights agriculture as a significant carbon emitter. ACTFP is assessed by considering the agricultural carbon emission factor as the sole non-desired output, and the impact of the GFPP on ACTFP is investigated through the DID method, thereby providing substantial validation of the hypotheses inferred from the mathematical model. Subsequently, the spillover effects of GFPP on ACTFP are analyzed in conjunction with the spatial econometric model. [ABSTRACT FROM AUTHOR]

In response to the optimal operation of ocean container ships, this paper presents a two-level planning model that takes into account carbon tax policies. This model translates the CO2 emissions of ships into carbon tax costs and aims to minimize the overall operation costs of the ships. In top-level planning, the model considers factors such as speed, cargo load, and energy consumption to establish an objective function and optimization strategy. In bottom-level planning, the model involves ship stability and imposes corresponding constraints. By integrating the two levels of planning, a ship operation optimization model that considers multiple factors is obtained. With practical ocean container ships as cases, through numerical examples and sensitivity analysis, the constraint, stability, and structural feasibility of the constructed model are confirmed. The research results of this paper provide a decision-making basis for optimizing the operation of oceanic container ships. [ABSTRACT FROM AUTHOR]

Accurately identifying changes in carbon trading prices can provide reasonable reference indicators for a government's macrocontrol and can also help companies more effectively avoid risks brought by carbon emissions and increase the income of carbon assets. Based on the Prophet model, LSTM neural network model, and backpropagation (BP), this paper proposes a method to predict carbon trading prices using the ensemble learning model and uses the Hubei carbon trading market data to predict carbon trading prices. Results show that in terms of accuracy, the Prophet-LSTM-BP ensemble learning model achieves better predictive ability than existing models; its RMSE, MAE, and MAPE are 1.479, 0.951, and 2.135, respectively, which are markedly smaller than the Prophet model's 5.631, 4.471, and 9.661, and the LSTM model's 3.352, 3.105, and 6.880, respectively. Compared with the traditional time series ARIMA model, the MAPE of ARIMA reaches 12.933, which is nearly 1.5 times that of the Prophet model, nearly 2 times that of the LSTM model, and nearly 7 times that of the ensemble learning model. In terms of applicability, when the model is applied to the national carbon trading market, the difference in MAPE compared with the Hubei carbon trading market is only 0.6%, and the other parameters are not more than 16%. The model improves the relevant research on carbon trading price predicting, and concurrently, this method provides ideas for carbon trading price predicting in other carbon trading markets and promotes the sustainable development of the national carbon trading market. [ABSTRACT FROM AUTHOR]

Employing a unique approach to household utility maximization, this paper explores the implications of vehicle carbon taxation and subsidies in the context of household choice for urban transportation mode where there exist two private characteristics of travel: comfort and time efficiency, and a third public negative characteristic, carbon emissions. Two policies to reduce carbon emissions are examined in this framework; (1) subsidizing public transportation and imposing a tax on vehicle emissions, (2) increasing the cost of private vehicle travel, and providing a rebate of the tax collected to the consumer. The results suggest that the latter policy may have little impact on carbon emissions and could possibly lead to an increase in emissions. [ABSTRACT FROM AUTHOR]

Carbon emissions are a major contributor to global warming and climate change. The government has adopted carbon tax (CT) and cap-and-trade policies to reduce carbon emissions from carbon companies. This paper develops a production–inventory model for scarce perishable goods under different carbon policies and outside green technology. This study covers the contribution of energy-efficient green technology in a multi-stage supply chain to control carbon emissions in producing and transporting goods from the manufacturer to the dealer. However, it discusses a different combination of carbon policies chosen for manufacturers and retailers in their countries. According to the findings, changes in carbon pricing, CT, and exchange rates under various policy combinations have varying effects on the entire supply chain, each member's interests, and the social benefits of reducing carbon emissions. It seeks to provide useful information to decision-makers in businesses or supply chains, especially multinational corporations, to make decisions related to fixed rate CT and cap partial deficit cases, long cycle time, reasonable profit with small value, and long term and low cost of green technology investment. The main objective is to find the best material sourcing, production, and distribution strategy for manufacturers and the best replenishment strategy for retailers to maximize the overall joint profitability of the supply chain. In summary, sensitivity analysis has provided an optimal solution management implication based on certain key parameters and CT size. [ABSTRACT FROM AUTHOR]

This paper examines investment responses to emission taxes and the role of tax incidence in passing on tax burdens. Using private firms from Spain and the introduction of an emission tax in 2013 in the Autonomous Community Valenciana, we show that investments decline in response to the emission tax. Importantly, this investment decline does not depend on the level of pollution but on economic factors related to tax incidence. Investments in firms operating in highly competitive markets, firms with low pricing power, and firms with low financial flexibility are the most affected by environmental taxes. We generalize the investment findings using the introduction of carbon taxes in France and Ireland in a stacked difference-in-differences design. Overall, our results indicate that emission taxes affect not only polluters but also other firms and stakeholders such as suppliers, customers, and consumers depending on the relative elasticities of supply and demand. [ABSTRACT FROM AUTHOR]

This paper sheds some light on the consequences of a carbon tax increase to achieve the national goal for carbon emissions. By use of a spatial computable general equilibrium model, STRAGO, the main purpose of the paper is to illustrate the effects on sectors in the economy and regions in Sweden from a climate scenario, by estimating expected substitution effects from a predetermined reduction in emissions. The climate scenario implies a gradual increase in the current carbon tax until the goal for the reduction in emissions has been reached. Doubling the carbon tax rate is expected to reduce the total consumption of fossil fuels by 18%, and in terms of reduced emissions and total welfare, the results are of the same order of magnitude as in previous Swedish studies. At the regional level, the effect on production is largest in Region West, as the production of petroleum and a large part of manufacturing is concentrated to this region. In terms of regional welfare, the northern regions, Upper-north in particular, lose more than central regions, which reflects differences in both industrial structure and carbon intensity, due to different transportation expenditures. The impact on welfare in northern regions is however mitigated by the substitution from fossil fuels to biofuels, as production of biofuels is concentrated to these regions. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to examine the impact of carbon emissions (carbon dioxide [CO2]) reduction on tax evasion behaviour. Design/methodology/approach: This study uses data from 200 countries from 2000 to 2017. The empirical analysis is based on various methodological tools, including ordinary least-squares model, fixed- and random-effects models. In addition, GMM and linear mixed model has been used for robustness purposes. Findings: The results show that carbon emissions reduction significantly affects tax evasion behaviour; when carbon emissions decrease, tax evasion behaviour increases. This indicates that the reduction of CO2 emissions is linked to significant costs, placing a financial burden on companies and leading them to evade taxes to counterbalance these costs. Practical implications: This study has important implications, as it highlights that the efforts made by countries to minimize CO2 emissions are associated with high costs and may lead to increased tax evasion, potentially contributing to countries' budget deficits. The results provide valuable insights for policymakers and stakeholders to implement effective environmental and fiscal regulations that contribute to a sustainable and eco-friendly future. These regulations can help maintain a balance between improving economic growth and ensuring the protection of the environment. Originality/value: To the best of the authors' knowledge, this is the first paper to test the impact of carbon emissions on tax evasion using macro-level data. [ABSTRACT FROM AUTHOR]

Closed-loop supply chain is an important path to realize the sustainable development of supply chain, and cap-and-trade and carbon tax policies further promote closed-loop supply chain to invest in low-carbon technologies. This paper combines Economic Production Quantity with Economic Order Quantity models and designs multiple carbon policies. Abatement rate and collection rate are the key variables used to explore the mechanism of the interaction between carbon tax and cap-and-trade, inventory dynamics of closed-loop supply chain and impact of multiple carbon policies on closed-loop supply chain. Construct and analyze benchmark model, investment model under multiple carbon policies, remanufacturing model under multiple carbon policies and mixed strategies model under multiple carbon policies, and the results show that there is a non-linear complementary relationship between carbon price and carbon tax, and both remanufacturing and low-carbon investment can optimize cost and carbon emissions when carbon price is distributed at a certain interval. Furthermore, mixed strategies combining remanufacturing and low-carbon investment can optimize cost and carbon emissions simultaneously. The main contribution of this paper is to build a low-carbon circular system, which can help balance cost and carbon emissions of closed-loop supply chain. [ABSTRACT FROM AUTHOR]

In this work, we propose a new model to evaluate the impact of potential governmental policy as a green transition to decarbonise road freight transport. Contrary to the classical literature on the topic, our approach employs a bilevel structure optimization scheme. More precisely, a single-leader-multi-follower (SLMF) model is developed, where the state represents the leader and the freight companies act as the followers. A carbon tax is the selected public policy to foster the shift to less polluting freight technologies. The model responds to an exogenously determined demand that must be satisfied by a fleet that remains constant in size through time. The aim is thus to determine to what extent the tax policy will generate an evolution of the fleets of the different companies towards greener vehicles. An additional scientific contribution of the paper is that the SLMF model is solved thanks to a new numerical approach based on the so-called SOS1 technique. The implementation is applied in the case of the Ecuadorian freight transport and the results highlight an interesting evolution of the fleets. [ABSTRACT FROM AUTHOR]

Background: To curb human-made carbon-dioxide emissions, the European Union will introduce carbon pricing for buildings and transport in 2027. Central and East European (CEE) countries are pressured to embark on ambitious decarbonization pathways leading to carbon-neutral economies by 2050. This paper is the first to investigate the public acceptance of and the willingness to pay (WTP) for a carbon tax in a CEE country, Hungary. It analyzes the support-increasing effects of five revenue-recycling mechanisms (tax cuts, green spending, support for poor households, funding for health care and education, and debt reduction), a wider range than covered in previous studies. A national face-to-face survey of 3013 adults on public attitudes to climate change, conducted in summer 2022, is the main method of data collection. This is combined with secondary analysis of related statistics and documentary analysis of relevant materials. Results: The results show low public acceptance, with only a modest increase from 20.3% to 27.3% due to revenue recycling. This is accompanied by low WTP values and WTP increases. All these are lower than those found in Western surveys. A novel empirical result is the relative popularity of public health care and education in revenue recycling, though differences in revenue-recycling preferences are apparent between those who accept a carbon tax even without a redistribution mechanism and those who are willing to pay only if redistribution is included. Green spending also performed relatively well, while supporting the poor fared less well, albeit with relatively high WTP values. Reducing taxes and public debt were the least likely to instigate carbon-tax acceptance. Conclusions: The results highlight the importance of carefully assessing the distributional impact of implementing carbon pricing mechanisms and thoroughly integrating social considerations into climate policy. Based on this, as well as the analysis of the social conditions and political economy of climate policy development in Hungary, policies—such as a gradually increasing carbon tax, social cushioning, legal earmarking of carbon-tax revenues, and policy bundling—are proposed to make carbon pricing socially tolerable and politically acceptable. The findings and conclusions might also be relevant for other parts of the CEE region. [ABSTRACT FROM AUTHOR]

This paper assesses the feasibility of India achieving its stated objective of getting to net zero carbon emissions by 2070 and outlines a possible strategy for the next 10 years consistent with this goal. It recommends a combination of price-based measures and several sector-specific interventions. The ideal price-based measure would be a carbon tax. This may not be feasible for various reasons, but in its absence a well-designed emissions trading system, as described in the paper, could make a major contribution in reducing emissions. On sectoral interventions, the critical areas over the next 10 years would be (i) accelerated expansion of various forms of renewable energy capacity, which will require several policy changes, (ii) electrification of transport, and (iii) a shift from private to public transport in urban areas and from road to rail for freight. Action will also be necessary in other sectors such as industry, agriculture, and buildings, but a detailed strategy for these may take more time to put in place. Since responsibility for action in all these areas is spread across different ministries in the central government and, in many cases, state governments, evolving an internally consistent and cost-effective strategy will present a major challenge. There is a case for setting up a high-level commission chaired by the Prime Minister to approve a national strategy. The paper estimates that the additional investment needed to make this transition will be about 2 per cent of India's GDP by 2030, much of which will have to come from additional public and private savings. In this context, some form of carbon pricing would help generate additional revenue. [ABSTRACT FROM AUTHOR]

Copyright of Urban Studies (Sage Publications, Ltd.) is the property of Sage Publications, Ltd. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The demand for different energy goods and services is a fundamental component in a country's economic structure for development. Understanding it is vital in designing economic policies, such as taxes, that can improve the welfare of the population. A comprehension of the distributional effects of elasticities and the application of them to simulate household responses to price changes, as well as a calculation of the welfare impacts on poor and rich households in Mexico, should inform policy design. This paper uses the Household Income and Expenditure Survey (ENIGH) from 1996 to 2018 to estimate the demand of Mexican households for fuels, specifically electricity, liquefied petroleum gas, and gasoline. A Quasi Ideal Quadratic Demand System (QUAIDS) is employed to analyse the effects of removing energy subsidies and introducing a carbon tax. The results indicate that welfare losses would be regressive concerning electricity price increases, while changes in gasoline prices would be progressive. Redistributing the tax revenues accrued by removing energy subsidies and imposing the carbon tax would have more progressive effects on the economy of Mexican households, with welfare gains of up to 350% for the poorest households in the case of electricity consumption taxes. [ABSTRACT FROM AUTHOR]

This paper considers a two-echelon supply chain consisting of a manufacturer and a retailer in which the manufacturer faces a random production disruption risk. The manufacturer replenishes the unproduced items to fulfil the retailer's order from the secondary market at a higher price. To attract more customers, this paper considers a customer's demand dependent on product selling price, stock level, and freshness level of the fresh items. Furthermore, this paper considers preservation technology investment (PTI) to mitigate the deterioration rate of the items and carbon tax regulation to curb down carbon emissions revealed from the supply chain activities. The Stackelberg game approach with a leader–follower relationship is used considering the manufacturer as a leader and the retailer as a follower. Several theorems are developed to illustrate the concavity of the profit function and to find out the optimal solutions in which the objective is to maximize the manufacturer's total profit subject to the minimum total cost that the retailer is willing to incur. Several numerical examples are presented to illustrate the proposed models and the obtained results are compared for with and without carbon tax policy. Finally, sensitivity analysis with some key managerial insights is given to demonstrate the model. The results show that a product's freshness level influences consumers' decision to buy more, and that's why the freshness level is an important competitive tool to increase sales as well as the supply chain's total profit. [ABSTRACT FROM AUTHOR]

This paper focuses on sovereign green bonds issued in Europe. By issuing green bonds, European governments commit themselves to realizing environmentally friendly projects and encourage other entities, including private-sector ones, to do the same, thus increasing further domestic investments in addressing climate change. However, considering that governments could pursue their sustainable goals by also issuing conventional bonds, this begs the question of why governments should prefer green bonds. A dataset of European sovereign green bonds was retrieved from the Bloomberg Fixed Income database to answer this question. The data cover all European sovereign green bonds issued until the end of 2023. Quantitative analysis confirms the existence of a small green premium for the issuers, representing an incentive to increase the issuances of sovereign green bonds. Furthermore, the government's carbon emissions reduction, the power sector decarbonization, and good climate policies, measured by the Government Climate Risk Score, contribute to further reducing a country's climate risk and consequently the costs of the issuance, thus triggering a virtuous circle which could, in turn, accelerate the transition to net-zero emissions. Despite these benefits, hurdles still exist, and have curbed the development of the market. Examples include divergence between the use of funds raised through green bonds, which should be earmarked exclusively for climate and environmental projects, and the fungibility requirements for proceeds from sovereign debt and fiscal revenues. [ABSTRACT FROM AUTHOR]

In the context of increasingly severe global climate change, finding effective carbon emission reduction strategies has become key to mitigating climate change. Environmental Protection Tax (EPT), as a widely recognized method, effectively promotes climate change mitigation by encouraging emission reduction behaviors and promoting the application of clean technologies. Based on data from 282 cities in China, this paper takes the official implementation of the EPT in 2018 as the policy impact and the cities with increased tax rates for air taxable pollutants as the treatment group and uses DID model to systematically demonstrate the relationship between the implementation of the EPT and carbon intensity (CI) and further explores the possible pollutant emissions and green innovation mediating effects. The findings show that (1) the implementation of EPT can effectively reduce CI by about 4.75%, and this conclusion still holds after considering the robustness of variable selection bias, elimination of other normal effects, policy setting time bias, and self-selection bias. (2) The implementation of EPT can reduce CI by reducing pollutant emissions and improving the level of green innovation. (3) There is obvious regional heterogeneity in the carbon reduction effect of EPT, and the implementation of EPT has a more significant effect on CI in medium-tax areas, low environmental concern areas, general cities, and eastern regions. This paper not only provides a new analytical perspective for systematically understanding the carbon emission reduction effect of EPT but also provides policy insights for promoting regional green transformation and advancing carbon peak carbon neutralization. [ABSTRACT FROM AUTHOR]

Transitioning to a low-carbon economy while promoting sustainable development requires behavioural changes and mobilization of significant investments. Key instruments being used for that include carbon pricing initiatives, such as carbon taxes and cap-and-trade policies, and, more recently, green bonds. Although the literature has provided some evidence on emission reduction associated with carbon pricing initiatives, there is a lack of investigations on the environmental performance of green bonds; and only theoretical models describe the potential benefits of combining both. Aiming to fill this gap, this study uses regression analysis and annual data for 150 countries between 1990 and 2019 to assess how carbon pricing initiatives and green bonds relate to carbon dioxide (CO2) emissions. This paper makes two main contributions. First, it examines how two climate instruments, carbon pricing and green bonds, relate to CO2 emissions. Previous research has focused only on individual instrument assessments and mainly on carbon pricing. Second, this paper empirically analyses whether there are interaction effects of the two instruments, an assessment not previously undertaken. The results suggest that the implementation of nationwide carbon pricing initiatives is associated with an 11% reduction in CO2 emissions on average. By comparison, green bond issuances are associated with an average 14% reduction in CO2 emissions. Further, no statistically significant interaction effects between carbon pricing initiatives and green bonds were observed. The results must be cautiously interpreted and cannot be attributed solely to the instruments studied since heterogeneous effects, biases from distinct sources, and the existence of complementary policies might influence the results. Carbon pricing initiatives, such as carbon taxes and cap-and-trade schemes, and green bonds are being used to promote the transition to a low-carbon economy. Investigation into green bonds and their impact on emissions is scarce and to date, only theoretical models analysed potential interaction effects of their combination with carbon pricing. The results show an average of 11% reduction in CO2 emissions associated with carbon pricing initiatives and of 14% reduction in CO2 emissions associated with green bonds issuances. While the results show promise in the emission reduction performance of these two instruments, caution in interpreting these results is advised as complementary policies, biases from distinct sources, and evidence of heterogeneous effects make it challenging to disentangle the effect of individual policies. [ABSTRACT FROM AUTHOR]

Recycling carbon tax revenue is a significant part of the design of a nation's carbon tax system. The impact of different recycling principles on the socio-economy and carbon emission reduction varies greatly. Under the background of China's goal of reaching peak carbon emissions, this paper designed three carbon tax recycling principles based on the goal of Nationally Determined Contributions (NDCs), including recycling principles based on output ratio, export ratio, and carbon intensity. A recursively dynamic CGE model was developed in this study to evaluate the economic effects of these three carbon tax recycling principles based on tax neutrality under China's goal of reaching peak carbon emissions. Carbon tax recycling measures could mitigate the economic losses caused by carbon tax, and the results could be greatly affected according to different recycling principles. The results showed that: 1 The recycling principle based on output ratio could reduce economic losses and improve households' social welfare. 2 China's carbon intensity in 2030 could be reduced by more than 65% compared with that in 2005, and the proportion of non-fossil energy in primary energy consumption could reach 25% using the recycling principle based on carbon intensity, but the economic loss mitigation effect of the recycling measures based on this principle was small. 3 Adopting the recycling principle based on export ratio would narrow the competitive gap between China and foreign countries, and the exports of high-carbon-intensity goods would not increase under this principle. 4 According to principles based on output ratio and export ratio, the NDC goal of non-fossil energy accounting for about 25% of primary energy consumption by 2030 could not be achieved, and only the NDC goal of reducing carbon emissions per unit of GDP by more than 65% compared with that of 2005 could be achieved. In brief, as an essential policy tool to achieve China's goal of reaching peak carbon emissions, the carbon tax should be implemented as soon as possible. At the same time, according to China's national conditions, a targeted choice of carbon tax recycling principle is needed. The role of the carbon tax in the process of achieving the goal of Nationally Determined Contributions should be fully utilized. [ABSTRACT FROM AUTHOR]

One of the ways to increase the participation and penetration of renewable energy resources is to bring down the cost of these abundant resources for easy implementation and affordability. In this paper, a generalized reduced gradient (GRG) non‐linear optimization algorithm is implemented to solve a tri‐objective optimal design and sizing of a low‐cost hybrid mix consisting of a photovoltaic (PV) power plant, biomass power plant (BPP), and battery energy system for water pumping load applications in the University of Johannesburg, South Africa considering four different hybrids of biomass‐battery, PV‐battery, PV‐biomass, and PV‐biomass‐battery. The optimization model considers available energy and battery state of charge while minimizing least cost of energy (LCOE), carbon dioxide emission (tCO2eq), and loss of power supply probability (LPSP) including carbon tax incentive and penalty. The results when compared against particle swarm optimization (PSO) show the superiority of GRG over PSO with an optimal combination of PV‐biomass‐battery mix with optimal size of the PV power plant as 360.50 kW, the BPP 181.08 kW, and the battery size of 6,553.60 kWh giving a minimal optimal LCOE, CO2 emission and LPSP of 0.018 $/kWhr (with carbon tax), and 0.016 $/kWhr (without carbon tax), 28,067.73tCO2eq tCO2eq, and 1.7%, respectively. These values give a competitive advantage compared to the unit cost and values of CO2 emission and LPSP currently in the literature. [ABSTRACT FROM AUTHOR]

As governments of various countries attach importance to green transportation, governments have focused their attention to understanding how they can shift the cargo shipping in coastal areas from land to water. Motivated by this, this paper establishes a green policy design model for coastal transportation systems. The model aims to minimise the comprehensive cost (i.e. the sum of the transportation cost and carbon emission tax) in the research area and optimise the government's shipping network design scheme and waterway freight rate control scheme under the established subsidy level. An active set algorithm is designed that can explore the local optimal solution of the model. Taking the Bohai Rim region of China as the research area, sensitivity analyses of different subsidy scales and origin-destination demand scales are carried out. The results show that the government's policy schemes will lead to a significant shift in the mode of transportation used for cargo. [ABSTRACT FROM AUTHOR]

Deploying renewable hydrogen presents a significant challenge in accessing off-takers who are willing to make long-term investments. To address this challenge, current projects focus on large-scale deployment to replace the demand for non-renewable hydrogen, particularly in ammonia synthesis for fertiliser production plants. The traditional process, involving Steam Methane Reformers (SMR) connected to Haber-Bosch synthesis, could potentially transition towards decarbonisation by gradually integrating water electrolysis. However, the coexistence of these processes poses limitations in accommodating the integration of renewable hydrogen, thereby creating operational challenges for industrial hubs. To tackle this issue, this paper proposes an optimal dispatch model for producing green hydrogen and ammonia while considering the coexistence of different processes. Furthermore, the objective is to analyse external factors that could determine the appropriate regulatory and pricing framework to facilitate the phase-out of SMR in favour of renewable hydrogen production. The paper presents a case study based in Spain, utilising data from 2018, 2022 and 2030 perspectives on the country's renewable resources, gas and electricity wholesale markets, pricing ranges, and regulatory constraints to validate the model. The findings indicate that carbon emissions taxation and the availability and pricing of Power Purchase Agreements (PPAs) will play crucial roles in this transition - the carbon emission price required for total phasing out SMR with water electrolysis would be around 550 EUR/ton CO 2. • Addressing the co-existence of steam methane reformers and electrolysers. • Novel power dispatch model addressing the flexibility of co-existential pathways. • PPA availability and pricing and ETS taxation as key enablers of renewable hydrogen. • Carbon intensity constraints heavily impact the project's sizing and feasibility. • Techno-environmental study of the carbon intensity of ammonia production. [ABSTRACT FROM AUTHOR]

The paper develops a finite-horizon inventory model with source-based emissions, plan-based green investments under inflation, and the present value of money. The cap-and-trade policy is used as the carbon policy. The model is solved in a bi-objective scenario where the two objectives are maximization of the present value of net profit and minimization of the total emission. We find the Pareto optimal solutions represented by a Pareto front using the ∊-constraint method. A flowchart is provided to find the non-dominated solutions. Pareto solutions for three special cases (no inflation, carbon tax, and no green investments) are also derived. In our sensitivity analyses, we observe that the carbon quota does not affect the optimal policy. It only affects the optimum profit. Our model shows that green investment is beneficial for the polluting firm and also for the environment. [ABSTRACT FROM AUTHOR]

Pricing decisions for construction and demolition waste recycling are severely hampered by consumer uncertainty in assessing the value of recycled building materials. This paper uses a construction and demolition waste (CDW) recycling utilization model that consists of a building materials manufacturer and a building materials remanufacturer and compares both the prices and the profits under different carbon tax scenarios, i.e., consumer risk-averse and risk-neutral scenarios. The main conclusions are as follows. (1) The optimal price of traditional products is always negatively correlated with consumer risk aversion. Unlike traditional products, the optimal price of recycled building materials is negatively related to the degree of consumer risk aversion in the case of a low carbon tax; the opposite conclusion is obtained in the case of a high carbon tax. (2) When the abatement cost coefficient is below the threshold and the carbon tax is low, the profits of the building materials manufacturer and remanufacturer show a U-shaped trend with consumer risk aversion; in the case of a high carbon tax, the profits of the two enterprises are positively correlated with consumer risk aversion. In addition, when the abatement cost coefficient is above the threshold, there is an interval in which the profits of the building materials manufacturer are positively correlated with consumer risk aversion in the case in which the carbon tax satisfies this interval. In all the other cases, there is a U-shaped trend in profits and consumer risk aversion levels for both the building materials manufacturer and the remanufacturer. [ABSTRACT FROM AUTHOR]

To achieve the carbon neutrality goal, enterprises should consider not only the development of new low-carbon emission projects but also the adjustment of the existing high-carbon emission projects. This paper discusses a multi-period project adjustment and selection (MPPAS) problem under the carbon tax and carbon quota policies. First, we propose an uncertain mean-chance MPPAS model for maximizing the profit of the project portfolio under the carbon tax and carbon quota policies. Then, we provide the deterministic equivalent of the proposed model and conduct the theoretical analysis of the impact of carbon tax and carbon quota policies. Next, we propose an improved adaptive genetic algorithm to solve the proposed model. Finally, we give numerical experiments to verify the proposed algorithm's performance and show the proposed model's applicability. Research has shown that the government can achieve the carbon neutrality goal by determining reasonable carbon tax and carbon quota policies, and companies can make the optimal investment decisions for the project portfolio by the proposed model. In addition, the proposed algorithm has good performances in robustness, convergence speed, and global convergence. [ABSTRACT FROM AUTHOR]

There seems to be a consensus among economists in support of a carbon tax for addressing the costly implications of carbon dioxide emissions for the global climate. However, past international agreements on climate change instead specify caps on emissions (a quantity target) for each country. The aim of this paper is to explore several reasons why use of such quantity targets could dominate use of a carbon tax. For one, if a country were to impose a carbon tax at a rate high enough to correct for global externalities, this rate would far exceed the tax rate that would be in any given country's own self-interest. The result is a strong incentive to make use of a variety of other domestic government policies to encourage greater emissions, undercutting the intended abatement under a carbon tax. A quantity target instead by construction caps emissions. Second, the paper argues that a quantity target can better ensure that global warming remains below 2°C above preindustrial levels, given the uncertainties faced regarding the response to any given carbon-tax rate. Third, the set of quantity targets set for each country can more flexibly be adjusted to ensure that most all countries benefit from participating in a global accord while still allowing efficient patterns of abatement by giving countries credit for cross-border abatement efforts. [ABSTRACT FROM AUTHOR]

Northern Sea Route (NSR) has attracted much attention from the academia. However, the relevant issues, namely, the seasonal variation of sea ice coverage, the possibility and delay of ice besetting events (IBEs), formulation of ice-breaker escort fee and rescue fee, and the internalization of environmental costs, are considered in past models, but not in a systematic manner. To break through the limitations of previous studies, this paper investigates the economic and environmental feasibility of the NSR for container service, and clarifies the said issues using the latest survey data on a business case. Specifically, a novel evaluation model was developed to estimate the required freight rate (RFR) comprehensively, from the perspective of economic and environmental costs. Based on the modeling results, the optimal scheme was designed for all-season commercial liner transportation via the NSR. Besides, the RFR-based logit competitiveness model was adopted to evaluate how the NSR as an alternative to the Suez Canal Route (SCR) is affected by multiple factors: the delay induced by the IBEs, carbon tax rate, loading factor of eastbound containerships, and fuel price. The research results provide reference for decision-makers to formulate operations plans for ice class, navigation speed, and ship type. [ABSTRACT FROM AUTHOR]

Climate change engendered by carbon emissions has become a major threat to human life and the world economy. Many of early studies corroborate that carbon tax and subsidy are effective policy tools to alleviate climate change. Most of them, however, use closed-economy models with a single firm to analyze the effects of these two policies. This paper explores the effects of carbon tax, subsidy and foreign carbon emissions on economic activities in an open macroeconomic model that features low- and high-carbon firms. The main findings suggest that carbon tax, subsidy and foreign carbon emissions all deliver heterogeneous outcomes by largely affecting high-carbon firms. The shortage of national income due to weak economic activities leads the economy to issue more international bonds. The takeaway from all the analyses is that government should introduce various carbon taxes that are geared towards target firms with different carbon emissions and adopt optimal means to manage national debt. [ABSTRACT FROM AUTHOR]

This paper sheds light on the unidentified effects of unilateral environmental and trade actions within an international trade framework with two large open economies, transboundary pollution, and Public Pollution Abatement (PPA) activities. When private and public abatement coexists in the exporting country, stricter environmental policy by the importing one magnifies the carbon leakage effect. Pareto efficiency dictates that Border Carbon Adjustment (BCA) should account not only for the difference in carbon taxes between the two countries, but also for the policy's unintended consequences on PPA. More importantly, we argue that a conditional reduction of BCA, subject to stricter environmental policy by the country that exports the polluting good, decreases global pollution and increases countries' welfare. Such reform strategy generates strong incentives for countries with laxer environmental policy to adopt a stricter one. [ABSTRACT FROM AUTHOR]

This paper investigates the asymmetric effects of fossil fuels, foreign direct investment (FDI), and globalization on the ecological footprint (EFP) in Mexico from 1975 to 2020. To this end, the Autoregressive Distributed Lag (ARDL), Nonlinear Autoregressive Distributed Lag (NARDL), and the wavelet coherence approach are conducted. Based on the outcomes of the ARDL method, economic growth and fossil fuel consumption lead to ecological degradation, while foreign direct investment improves environmental conditions. Globalization has no impact on the environment. The NARDL approach illustrates that a positive shock to fossil fuels, FDI, and globalization degrades the environment. The wavelet coherence results emphasize the adverse environmental influence of economic growth and fossil fuels. These results imply that the Mexican government should conduct its economic expansion considering the principle of sustainable development. In this context, policymakers should propagate carbon taxes and similar instruments to promote clean energy sources that can replace fossil fuels and are compatible with sustainable development policies. [ABSTRACT FROM AUTHOR]

We study how the implementation of emissions trading systems (ETSs) impacts emissions reductions and the usage of renewable energy using a panel sample of the largest 100 countries worldwide. Exploiting cross-country variations in ETS implementations, we show that ETS adoption materially reduced greenhouse gas (carbon dioxide) emissions by 12.1% (18.1%). Moreover, ETSs reduced overall emissions by cutting the usage of fossil fuels such as coal by 23.70% while boosting the usage of renewable energy by 61.59%, on average. In contrast, introducing carbon taxes has a less effective impact on emissions reduction. It fails to boost the usage of renewable energy, though elevating tax rates and expanding tax coverage may help enhance the efficacy of carbon taxes. This paper was accepted by Victoria Ivashina, finance. Funding: H. Ru thanks the financial support from the Nanyang Technological University, and Ministry of Education, Singapore, under its Tier 1 RG134/20. Supplemental Material: The online appendix and data files are available at https://doi.org/10.1287/mnsc.2023.03143. [ABSTRACT FROM AUTHOR]

A supply chain with a manufacturer and a seller is studied in this paper for the impact of monetary and symbolic incentives on reducing carbon emissions. It is the responsibility of the manufacturer to invest in carbon emission abatement technologies and that of the seller to sell such products to consumers with green preferences. The study findings reveal that (1) both monetary and symbolic incentives can contribute to reducing carbon emissions but the choice between them depends on the trade‐off between the cost‐sharing ratio and the market interest rate; (2) implementing a hybrid policy could crowd‐out carbon emission effects; and (3) the manufacturer may maximize his profits under a hybrid policy, but the seller may struggle to cover his expenses, which could hinder effective collaboration within the supply chain. [ABSTRACT FROM AUTHOR]

This paper investigates the optimal production and carbon reduction strategy for a capital‐constrained remanufacturing firm considering demand uncertainty. The remanufacturing firm can accept low‐carbon credit financing. We construct optimization models with no financing and low‐carbon credit financing and analyze the impacts of capital, carbon emission caps, and other factors on the remanufacturer's decision and profit. The results show that (i) the output of remanufactured products and overall profit are higher when using low‐carbon credit financing, regardless of strict carbon emission conditions; (ii) low‐carbon credit can help remanufacturers withstand the impact of carbon price fluctuations; (iii) the demand uncertainty of new and remanufactured products has opposite effects on carbon emission reduction investment; (iv) increasing the carbon cap can enhance the remanufacturing level while a high carbon cap reduce incentives to remanufacture. [ABSTRACT FROM AUTHOR]

This article examines a supply chain network that considers both economic and environmental factors. The network faces challenges related to multi‐item products and non‐homogenous vehicle types with different costs. Additionally, the production process involves multiple energy sources that emit different levels of air pollution. The main objective is to maximise profits while adhering to different carbon policies. To achieve this goal, the paper presents several supply chain models that are compared under different schemes: no carbon policy (basic one), carbon tax policy, carbon emission policy and carbon trading policy. These models were coded and solved to demonstrate their effectiveness for different conditions and scenarios. The results provide valuable insights for supply chain managers, enabling them to make well‐established decisions for executive planning. [ABSTRACT FROM AUTHOR]

This paper studies supply chain pricing and production/ordering decisions under carbon tax policy and retailer's stochastic demand. Firstly, a supply chain model with random demand obeying normal distribution is established. Based on this, a stochastic optimization problem with the goal of maximizing expected social welfare is constructed. The multi-agent consensus is used to solve the optimization problem, and the pricing and production/ordering decisions with random demand obeying normal distribution are obtained. Finally, the theoretical results are verified by numerical simulation, and the influence and effectiveness of multi-agent consensus theory on supply chain decision-making are demonstrated in the presence of random demand and sudden failure of an enterprise in the supply chain and further analyze the impact of carbon tax policy on supply chain decision-making. [ABSTRACT FROM AUTHOR]

This paper examines the asymmetric link between carbon pricing and the comparative advantage in environmental goods exports in South Africa from 1995 to 2021. The non‐linear autoregressive distributed lag model is utilized to investigate the effects of both minor and major positive and negative fluctuations in carbon taxes, technological innovation, and energy transition on comparative advantage. The results reveal that carbon taxes have an asymmetric effect on comparative advantage in both the short and long runs, with positive shocks exerting a greater beneficial influence than negative shocks. Specifically, it is found that a 1% reduction in carbon taxes corresponds to a 1.24% decline in the response variable, whereas a 1% increase in carbon taxes is associated with a 2.72% increase in comparative advantage in environmental goods exports, which is twice as large. The study also uncovers evidence of an asymmetric relationship between low‐carbon technological innovation and comparative advantage in environmental goods exports. However, strong evidence of a long‐run asymmetric linkage between the energy transition and comparative advantage is not established. Nevertheless, it is noteworthy that a positive shift in energy transition is linked with a 0.32% rise in comparative advantage in environmental goods exports, whereas a negative shift in energy transition corresponds to a 0.11% decrease. The practical policy implications are also discussed. [ABSTRACT FROM AUTHOR]

The article is an obituary for economist Robert Solow, highlighting his influential work on economic growth and the development of the Solow growth model. It discusses his approach to economics, which emphasized the use of simple mathematical models tailored to specific problems and taking into account all available evidence. The article also mentions Solow's contributions to the rise of modeling in economics and his work on the rate of technological progress. Solow believed in using plausible models aligned with observations and criticized simplistic assumptions in economic models. He emphasized the importance of challenging nonsense and holding out against misleading theories in economics. [Extracted from the article]

This article is a response to criticisms raised by Kian Mintz-Woo regarding carbon offsets. The author disagrees with Mintz-Woo's arguments and focuses on three main areas of disagreement: factual claims about offsets, justice in determining baseline actions, and individual moral responsibility in addressing climate change. The author defends the use of carbon offsets and emphasizes the need for further research on effective individual actions. The article also provides a list of academic publications by Luke Elson, an Associate Professor of Philosophy at the University of Reading, whose research interests include rational choice theory and ethics. [Extracted from the article]