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Taking advantage of distinctive text-based measures of climate policy uncertainty and firm-specific exposure to climate change, this study aims to examine the impact of firm-specific vulnerability on dividend policy.

To mitigate endogeneity, the authors apply an instrumental-variable analysis based on climate policy uncertainty as well as use additional analysis using propensity score matching and entropy balancing.

The authors show that an increase in climate policy uncertainty exacerbates firm-specific exposure considerably. Exploiting climate policy uncertainty to generate exogenous variation in firm-specific exposure, the authors demonstrate that companies more susceptible to climate change are significantly less likely to pay dividends and those that do pay dividends pay significantly smaller dividends. For instance, a rise in firm-specific exposure by one standard deviation weakens the propensity to pay dividends by 5.11%. Climate policy uncertainty originates at the national level, beyond the control of individual firms and is thus plausibly exogenous, making endogeneity less likely.

To the best of the authors’ knowledge, this study is the first attempt in the literature to investigate the effect of firm-specific exposure on dividend policy using a rigorous empirical framework that is less vulnerable to endogeneity and is more likely to show a causal influence, rather than a mere correlation.

How do we understand political polarization around the issue of climate change in the United States? Using a mixed-methods approach, this paper unpacks the components of the debate over climate science and policy between 2015 and 2017 to understand the sources of divisiveness that have come to characterize climate politics in the United States. Data in our analysis include the content of Congressional hearings and open-ended, semi-structured interviews with the most influential climate policy actors at the federal level. We find high levels of polarization around two specific components of this debate: the type of policy instrument and the role of the federal government in regulating carbon dioxide emissions. This paper concludes by exploring how patterns of polarization preceding the 2016 election help us to understand the expected political debate over federal climate policy in the years to come.

Tourism, a critical economic sector for Small Island Developing States (SIDS), is extremely vulnerable to climate change. It has been becoming increasingly evident that strategic planning is essential for the sector to manage future impacts of climate change. This study examines the climate change considerations in the tourism sector of The Bahamas with a specific focus on adaptation policies by exploring the perspectives of key actors. Facing similar climate vulnerabilities as many other SIDS, The Bahamas was chosen because it is a mature tourism destination that provides an avenue for existing policy innovations. In-depth, semi-structured interviews were conducted with eight policy actors from the government, tourism associations, and nongovernmental organizations in the country. The findings revealed that these stakeholders have a good knowledge of climate change. However, planning for tourism and climate change is fragmented, with most climate policies formulated with the scope of mitigation, such as greenhouse gas reduction strategies. In addition, the policy implementation faces many gaps common to SIDS, such as funding and human capacity. At present, the strategic planning for future tourism targets sustainable eco-tourism markets. Based on our findings, we provide recommendations such as leveraging public officials' knowledge of climate change, steering locally relevant adaptation measures, and directing immediate attention toward projects in the pipeline to ensure timely, long-term, and effective planning. The study adds to the current knowledge of climate change in the tourism policy context for The Bahamas with implications for other SIDS.

Purpose – To provide a policy perspective on the relationship between transport and climate change.

Methodology/approach – Two key themes are identified and discussed: the meaning of a major change in a policy perspective, covering the Climate Change Act and the development of a Low Carbon Transition Plan. A theoretically informed framework applies and highlights the importance of understanding policy change from a historical perspective.

Originality/value – The largely incremental nature of the policy change is considered in terms of whether there are real prospects of a radical change in transport policy that will deliver a low carbon transport future, whilst also allowing transport to fulfil its many other roles.

Findings – The chapter demonstrates that the current approach to climate change policy has seen only minor adjustments to existing policy tools which are not consistent with the more radical shift in policy targets. This incremental approach may reflect the significant uncertainty over technological change or a reluctance to tackle the difficult issue of travel behaviour. Whilst oil prices remain high this may not be problematic but more proactive steering will be necessary in the coming years.

Globally, climate change governance continues to be a significant challenge to policymakers, environmentalists and politicians despite international summits, conferences and programmes designed to find sustainable solutions to the climate change crises. Climate change continues to be viewed primarily as a challenge for the future, whereas many leaders and administrators globally regard it as an environmental issue rather than a challenge that encompasses all aspects of life. In South Africa, these misleading perceptions of climate change continue to prevail both at national and local levels. The government and private organisations do not attach the required levels of urgency needed to address the climate change crisis. While numerous policies and institutions have been established to address these challenges, they lack financial backing, coordination and synergy that cut across the broad objectives of environmental, social and economic agendas. Additionally, weak, eroding trust and manipulating of institutions continue to hinder effective policy implementation and focus-driven governance. This paper aims to explore the structural and governance weaknesses of climate change administration in the KwaZulu-Natal province and South Africa in general.

This paper used extensive literature reviews and a triangulated approach to investigate the weaknesses of the current governance structure in the context of institutional and capacity constraints.

The findings uncovered that most institutions and organisations mandated to address climate change challenges operate in silos, lack required investment and capacity and have weak accountability mechanisms with a shallow understanding of climate change governance.

This paper recommends better coordination between national, provincial and local governments as well as the private sector towards climate change activities and capacity to ensure that climate change actions are effectively implemented.

This study aims to illustrate how collaborative platforms may leverage active community for climate change adaptation to implement biodiversity preservation policies.

This study adopts the Dynamic Performance Governance methodological framework to analyze the causal relationships affecting biodiversity preservation policy outcomes.

Active community reduces harmful factors for biodiversity (i.e. biological threats and anthropogenic pressure), limiting the risk of extinction of perennial plants. Stakeholders’ prior knowledge is an enabling condition of climate adaptation processes as it triggers the adoption of prescriptions and cultural changes in a community.

The study provides methodological guidance to define measures to deliver material information to support environmental performance governance. It elaborates an inventory of short- and long-term performance indicators integrating natural-science targets into accounting measures that can support policymakers operating in other contexts to implement climate change adaptation policies.

As a response to the study findings, social implications provide insights into how active community in collaborative platforms for climate change may support stakeholders to address natural resources imbalances, define strategies to share the burden among them and intervene on multiple policy domains (e.g. financial, environmental and social).

Climate change adaptation challenges are conceptualized as “super wicked problems,” and the collaborative platforms designed to address them are rendered as complex adaptive systems. This makes the paper go beyond traditional environmental governance, demonstrating that stakeholders’ interactions within collaborative platforms harness active community specialized knowledge.

This paper aims to examine the extent to which the cultural dimension of individualism/collectivism matters for international differences in climate change policy performance. This study postulates that individualistic societies, relative to their collectivistic counterparts, are more likely to address global climate change.

The main hypothesis is tested using data for a world sample of up to 92 countries. To achieve causal inference, this study isolates exogenous sources of variation in individualistic cultures, based on blood distance to the UK and historical pathogen prevalence.

The core results suggest that individualistic countries are characterized by greater climate change policy performance. This study also finds evidence that individualism affects climate change policy adoption through enhancing governance and female political representation. Subnational analyses based on data from the World Values Survey indicate that survey participants with an orientation toward individualism tend to self-report positive attitudes to pro-environmental policies.

The main findings help improve the understanding of the deep origins of climate change policy performance, which is relevant for formulating policies that help mitigate the consequences of changing climate conditions.

To the best of the author’s knowledge, this paper is the first study to link cultural traits of individualism and climate change policy performance across countries.

Stakeholder consultation and participation are central to the climate change policymaking process. The purpose of this paper is to assess the level of stakeholder participation in the Ghana National Climate Change Policy. It examines the actors in the policy space and the negotiations and tradeoffs made during the policymaking process. Finally, it outlines the steps undertaken to make the process participatory and consultative.

A qualitative method has been used for this paper. The research design involves a review of relevant literature on Ghana’s climate change regime, meeting reports and key informant interviews.

The findings indicate that the processes the policy underwent had extensive stakeholder participation. An uptake of evidence was from existing impact and vulnerability assessments, the first and second communication to the United Nations Framework Convention on Climate Change (UNFCCC), scientific and research documents and expert knowledge. Key actors were identified and involved right from the beginning of the policymaking process. Although stakeholder participation was time-consuming, expensive and elongated, the policy process was vital for buy-in and ownership. The results also identified the need to include more stakeholders at the sub-regional levels in policymaking.

The study is the first of its kind detailing stakeholder participation in the climate change policy process in Ghana. It forms a good basis for comparative studies with similar policies in other countries. Thus, this paper fills an identified gap of the need to document climate change policymaking processes.