Search results
1 – 10 of 15The objective of this study is to explore the level of understanding and actions taken by the people of Gurugram (erstwhile Gurgaon) to mitigate the impact of climate change…
Abstract
Purpose
The objective of this study is to explore the level of understanding and actions taken by the people of Gurugram (erstwhile Gurgaon) to mitigate the impact of climate change, given its critical importance as a global issue.
Design/methodology/approach
Using a qualitative approach, primary data were collected through in-depth interviews by means of semi-structured interview methods.
Findings
The findings indicate that while people are aware of climate change, the information is deficient for them to translate their knowledge into effective action. Some of the major challenges identified are lack of appropriate understanding, resources, education, motivation and government initiatives, as well as the old habits, peer influence, feeling of incapability and limited media exposure. To bridge the intention-action gap, it is recommended that people should be empowered to act desirably. There is a change need for awareness and education on ways to mitigate the effects of climate change. The study has implications for researchers, environmentalists, policymakers, non-government organizations and local residents of Gurugram.
Originality/value
This study provides unique insights into the understanding of climate change by the general public and challenges faced in taking pro-environment actions. It emphasizes the urgent need to create awareness and educate individuals about ways to mitigate the impact of climate change.
Details
Keywords
Laurens Swinkels and Thijs Markwat
To better understand the impact of choosing a carbon data provider for the estimated portfolio emissions across four asset classes. This is important, as prior literature has…
Abstract
Purpose
To better understand the impact of choosing a carbon data provider for the estimated portfolio emissions across four asset classes. This is important, as prior literature has suggested that Environmental, Social and Governance scores across providers have low correlation.
Design/methodology/approach
The authors compare carbon data from four data providers for developed and emerging equity markets and investment grade and high-yield corporate bond markets.
Findings
Data on scope 1 and scope 2 is similar across the four data providers, but for scope 3 differences can be substantial. Carbon emissions data has become more consistent across providers over time.
Research limitations/implications
The authors examine the impact of different carbon data providers at the asset class level. Portfolios that invest only in a subset of the asset class may be affected differently. Because “true” carbon emissions are not known, the authors cannot investigate which provider has the most accurate carbon data.
Practical implications
The impact of choosing a carbon data provider is limited for scope 1 and scope 2 data for equity markets. Differences are larger for corporate bonds and scope 3 emissions.
Originality/value
The authors compare carbon accounting metrics on scopes 1, 2 and 3 of corporate greenhouse gas emissions carbon data from multiple providers for developed and emerging equity and investment grade and high yield investment portfolios. Moreover, the authors show the impact of filling missing data points, which is especially relevant for corporate bond markets, where data coverage tends to be lower.
Details
Keywords
This study aims to use a comparative analysis to examine the channel of deferring cash commitments, which can be seen as a strategic solution to mitigate the impact of COVID-19 on…
Abstract
Purpose
This study aims to use a comparative analysis to examine the channel of deferring cash commitments, which can be seen as a strategic solution to mitigate the impact of COVID-19 on Moldova's service sector.
Design/methodology/approach
This paper uses the Oaxaca–Blinder decomposition analysis. The World Bank's post-COVID-19 survey is used. The methodology takes into account heterogeneity among firms.
Findings
The results of the Oaxaca–Blinder decomposition analysis show that service firms use deferred cash commitments more than industrial firms, corporate governance and their pandemic-related strategies are also effective in the post-COVID Moldovan economy. The results are robust to different modeling alternatives.
Originality/value
COVID-19 can be considered a key source of uncertainty for firms, especially those operating in economies where financial frictions occasionally occur in a transition economy. Therefore, this study can shed new light on the impact of COVID-19 on financial strategies in a transition economy.
Details
Keywords
Mohamed Arouri, Adel Ben-Youssef and Cuong Viet Nguyen
In this study, the authors examine the push and pull effects of extreme weather events on migration among governorates in Egypt.
Abstract
Purpose
In this study, the authors examine the push and pull effects of extreme weather events on migration among governorates in Egypt.
Design/methodology/approach
To estimate the effect of extreme weather events on internal migration, the authors use migration gravity models and data from the 1996 and 2006 Population and Housing Censuses. The authors measure weather extremes by the number of months in the past 36 months with temperatures or precipitation of a governorate below the 5th percentile and above the 95th percentile of the distribution of monthly temperatures or precipitation of the corresponding governorate during the period 1900–2006.
Findings
This study’s results suggest that high temperatures in the origin area act as a push factor. High-temperature extremes have a positive effect on out-migration. A 1% increase in the number of months with high-temperature extremes in the original governorate results in a 0.1% increase in the number of out-migrants.
Practical implications
The study suggests that people may respond to weather extremes through migration. However, climate migrants in Egypt may encounter several significant risks that authorities must address.
Originality/value
This study is one of the first attempts to measure the push and pull effect of weather extremes on migration in Egypt.
Details
Keywords
This paper aims to examine the extent to which the cultural dimension of individualism/collectivism matters for international differences in climate change policy performance…
Abstract
Purpose
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.
Design/methodology/approach
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.
Findings
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.
Research limitations/implications
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.
Originality/value
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.
Details
Keywords
Wolfgang Buchholz and Dirk Rübbelke
Climate finance is regularly not only seen as a tool to efficiently combat global warming but also to solve development problems in the recipient countries and to support the…
Abstract
Purpose
Climate finance is regularly not only seen as a tool to efficiently combat global warming but also to solve development problems in the recipient countries and to support the attainment of sustainable development goals. Thereby, conflicts between distributive and allocative objectives arise, which threaten the overall performance of such transfer schemes. Given the severity of the climate change problem, this study aims to raise concerns about whether the world can afford climate transfer schemes that do not focus on prevention of (and adaptation to) climate change but might be considered as a vehicle of rent-seeking by many agents.
Design/methodology/approach
Future designs of international transfer schemes within the framework of the Paris Agreement are to be based on experience gained from existing mechanisms. Therefore, the authors examine different existing schemes using a graphical technique first proposed by David Pearce and describe the conflicts between allocative and distributional goals that arise.
Findings
In line with the famous Tinbergen rule, the authors argue that other sustainability problems and issues of global fairness should not be primarily addressed by climate finance but should be mainly tackled by other means.
Research limitations/implications
As there is still ongoing, intense discussion about how the international transfer schemes addressed in Article 6 of the Paris Agreement should be designed, the research will help to sort some of the key arguments.
Practical implications
There are prominent international documents (like the Paris Agreement and the UN 2030 Agenda for Sustainable Development) seeking to address different goals simultaneously. While synergies between policies is desirable, there are major challenges for policy coordination. Addressing several different goals using fewer policy instruments, for example, will not succeed as the Tinbergen Rule points out.
Social implications
The integration of co-benefits in the analysis allows for taking into account the social effects of climate policy. As the authors argue, climate finance approaches could become overstrained if policymakers would consider them as tools to also solve local sustainability problems.
Originality/value
In this paper, the authors will not only examine what can be learnt from the clean development mechanism (CDM) for future schemes under Article 6 of the Paris Agreement but also observe the experiences gained from a non-CDM scheme. So the authors pay attention to the Trust Fund of the Global Environment Facility (GEF) which was established with global benefit orientation, i.e. – unlike the CDM – it was not regarded as an additional goal to support local sustainable development. Yet, despite its disregard of local co-benefits, the authors think that it is of particular importance to include the GEF in the analysis, as some important lessons can be learnt from it.
Details
Keywords
The authors investigate natural disasters’ impact on manufacturing and services foreign direct investment (FDI), both, in contemporaneous and time-lag contexts. Manufacturing and…
Abstract
Purpose
The authors investigate natural disasters’ impact on manufacturing and services foreign direct investment (FDI), both, in contemporaneous and time-lag contexts. Manufacturing and services FDI account for different types of technology transfers, respectively, through tangible physical assets and intangible knowledge assets. This paper aims to hypothesize that natural disasters that have pronounced physical impact, have different effect on different sectoral FDI.
Design/methodology/approach
The authors merge a data set from emergency events database, which covers natural disasters occurrences with a sector-level data on FDI for 69 countries for the period 1980-2011, distinguishing between four different kinds of natural disasters such as meteorological, climate, hydrological and geophysical, as well as between different geographical regions.
Findings
Controlling for commonly accepted determinants of FDI, such as output growth, quality of institutions and natural resource abundance, the authors find that manufacturing FDI is negatively affected immediately after the disaster and positively in the longer run- a finding that is in unison with the “creative destruction” growth theory. Services FDI, on the other hand, do not show such pattern. Meteorological disasters have no effect on services FDI and climate and hydrological disasters have long-lasting negative effects. For both, manufacturing and services FDI, geophysical disasters have a positive impact on FDI in the long run.
Research limitations/implications
The study is limited to 69 countries for the period 1980-2011.
Practical implications
FDI bears tangible and intangible knowledge assets and provides means of financing, even in countries with under-developed banking systems and stock markets. FDI is impacted by climate change, manifested by intensifying and increase of frequency of natural disasters.
Social implications
Natural disasters destroy infrastructure and displace people. The rebuilding of infrastructure and intangible capital present an opportunity for upgrading.
Originality/value
This is the first study that analyzes the impact of natural disasters on sector-level FDI in a multicounty and regional context.
Details
Keywords
Tiago Ferreira Barcelos and Kaio Glauber Vital Costa
This study aims to analyze and compare the relationship between international trade in global value chains (GVC) and greenhouse gas (GHG) emissions for Brazil and China from 2000…
Abstract
Purpose
This study aims to analyze and compare the relationship between international trade in global value chains (GVC) and greenhouse gas (GHG) emissions for Brazil and China from 2000 to 2016.
Design/methodology/approach
The input-output method apply to multiregional tables from Eora-26 to decompose the GHG emissions of the Brazilian and Chinese productive structure.
Findings
The data reveals that Chinese production and consumption emissions are associated with power generation and energy-intensive industries, a significant concern among national and international policymakers. For Brazil, the largest territorial emissions captured by the metrics come from services and traditional industry, which reveals room for improving energy efficiency. The analysis sought to emphasize how the productive structure and dynamics of international trade have repercussions on the environmental dimension, to promote arguments that guide the execution of a more sustainable, productive and commercial development strategy and offer inputs to advance discussions on the attribution of climate responsibility.
Research limitations/implications
The metrics did not capture emissions related to land use and deforestation, which are representative of Brazilian emissions.
Originality/value
Comparative analysis of emissions embodied in traditional sectoral trade flows and GVC, on backward and forward sides, for developing countries with the main economic regions of the world.
Details
Keywords
Rachael Behr and Virgil H. Storr
There is a large literature about crisis entrepreneurship, spanning from necessity, natural disaster and long-term conflict entrepreneurship. This paper situates pandemic…
Abstract
Purpose
There is a large literature about crisis entrepreneurship, spanning from necessity, natural disaster and long-term conflict entrepreneurship. This paper situates pandemic entrepreneurship as a unique form of crisis entrepreneurship.
Design/methodology/approach
The authors utilize the Kirznerian and Schumpeterian theories of entrepreneurship to understand pandemic entrepreneurship. Using evidence from the US COVID-19 pandemic, the authors argue that pandemics impact both the “identification” and “action” moments of entrepreneurship.
Findings
The Kirznerian identification moment becomes much more uncertain for entrepreneurs because of fluctuating conditions, such as public health conditions, new potential variants of the virus causing the pandemic, shifting government mandates and rules and so forth. The Schumpeterian action moment becomes more challenging because of the necessity of physical distancing and because, generally, all crises raise the cost of entrepreneurial action. That said, the authors still document considerable entrepreneurship during pandemics as entrepreneurs adapt to the increased uncertainty and costs by rely upon local and customary knowledge.
Research limitations/implications
This research finds that entrepreneurs, depending upon the crisis, face differing constraints. Specifically in times of pandemic, entrepreneurs face difficulty recognizing opportunities because of shifting conditions and acting upon opportunities because of financial and political constraints. This research thus implies that there are large opportunities for alleviation of such constraints if there were to be future variants or pandemics.
Practical implications
Practically speaking, this research affects how people study entrepreneurship. By recognizing the differing constraints that pandemic entrepreneurs face, the authors can better understand the last several years, and can also prepare better policy wise for future pandemics or further variants of COVID-19.
Social implications
Socially, entrepreneurship can be a large factor in recovery from disasters and crises. By recognizing and perhaps alleviating constraints that pandemic entrepreneurs face, future crises could have better responses and recoveries.
Originality/value
Although several studies have examined entrepreneurship during the COVID-19 pandemic, the extant literature on pandemic entrepreneurship remains relatively underdeveloped and has not yet focused on what distinguishes pandemic entrepreneurship from other forms of crisis entrepreneurship. The authors highlight what pandemic entrepreneurship has in common with other forms of crisis entrepreneurship and pinpoint the various ways that is distinct.
Details
Keywords
This study aims to explore empirical evidence of the impact of greenhouse gas (GHG) emissions on stock market volatility.
Abstract
Purpose
This study aims to explore empirical evidence of the impact of greenhouse gas (GHG) emissions on stock market volatility.
Design/methodology/approach
Using panel data of 35 Organization for Economic Co-operation and Development countries from 1992 to 2018, we conduct both fixed effects panel model and Prais-Winsten model with panel-corrected standard errors.
Findings
The authors document that there is a significant positive relationship between GHG emissions and stock market volatility. The results remain robust after controlling for potential endogeneity problems.
Originality/value
This study contributes to the literature in that it provides additional empirical evidence for the financial risk posed by climate change.
Details