The economic and environmental effects of China's environmental expenditure under financing constraints.

Sound ecological and environmental governance systems are critical for promoting green and low-carbon economic transformation and high-quality development. However, financing constraints are major obstacle to the revitalization and transformation of China's real economy. In this study, we constructed an environmental dynamic stochastic general equilibrium (E-DSGE) model that incorporates two types of environmental expenditure and financing constraints, and discussed their economic and environmental effects. Based on this, we further considered the impacts of financing constraints on policy effects. Firstly, we found that increases in carbon emission reduction subsidies in government expenditure (1) increase total economic output and (2) motivate enterprises to increase emission reduction efforts and reduce pollution intensity and emissions, thereby reducing the inventory of environmental pollutants while balancing economic benefits and emission reduction. Secondly, increasing the proportion of government special expenditure on environmental protection promote output growth and directly reduces the pollution stock in the environment. However, such policies may also reduce the emission reduction efforts of enterprises, leading to increases in their pollution emissions and intensity. Lastly, the existence of financing constraints is not conducive to the growth of total output but increases the pollution control effect of emission reduction subsidies and pollution prevention expenditure. Application of the E-DSGE model offers new theoretical insight into environmental economics and macroeconomics. Moreover, the results of this study provide a reference for optimizing the structure of fiscal expenditure.

The impact of China's carbon emissions trading policy on corporate investment expenditures: Evidence from carbon-intensive industries.

The carbon emissions trading (CET) policy internalises the cost of carbon emission reductions borne by companies, which will affect the companies' investment and management decisions. From a micro perspective, this paper analyzes the impact on company investment expenditure and its transmission mechanism by implementing the CET policy. Based on panel data of China's A-share listed companies from eight carbon-intensive industries spanning 2010 to 2020, the time-varying difference-in-difference model and its extended model are used to evaluate the impact of the policy in the pilot areas. The results show that: first, based on the cost effect and legality theories, CET policy can reduce the investment expenditure of the companies by 71.95%. Second, CET policy reduces corporate investment expenditures by increasing corporate debt financing costs. When debt financing costs increase by 120.25%, the investment expenditures will reduce by 2.56% indirectly while the intermediary effect of equity financing costs is not significant. Finally, with the implementation of CET policy, the inhibitory effect on corporate investment expenditures has gradually increased. CET policy has a more significant inhibitory effect on investment expenditures of nonstate-owned companies and small-scale companies. The results have passed the robustness test and provide evidence for the policy-maker to balance microeconomic entity development and carbon reduction, and for companies to make optimization investment and financing decisions in response to policy shocks effectively.

Economic valuation of Harmful Algal Blooms (HAB): Methodological challenges, policy implications, and an empirical application.

This paper presents a literature review on the economic valuation of Harmful Algal Bloom (HAB) impacts, identifying methodological challenges, policy implications, and gaps. Unlike previous literature reviews, we are particularly interested in determining whether the economic valuations of HABs have included a policy analysis. Our paper provides a conceptual framework that allows us to evaluate whether applications of economic studies of HABs are consistent with a well-defined economic welfare analysis. It links methodologies and techniques with welfare measures, data types, and econometric methods. Based on this literature review, we present an example of economic valuation that closes the gap between policy analysis and valuation methodology. We use a stated preferences study to estimate a "seafood price premium" to create a fund to support monitoring systems and for damage compensation to producers in the presence of HABs. Results show that most economic studies on HAB valuation do not consider any cost-benefit analysis of a defined policy intervention. The predominant economic valuation methodology uses market information to estimate a proxy for welfare measure of the impact of HABs (loss revenue, sales, exports). Moreover, nonuse and indirect use values are ignored in the literature, while stated preference methodologies are underrepresented. Finally, results from 1293 surveys found that people are willing to pay an increase in the price of mussels to support a policy that informs on HAB. However, the lack of institutional trust affects the probability of paying negatively.

The impact of financial development on enterprise green innovation under low carbon pilot city.

Low-carbon pilot city (LCPC) plays a pivotal role in stimulating green innovation among enterprises. However, relying solely on policy often proves less effective, necessitating support from financial development. Yet, current research frequently overlooks the impact of financial development on LCPC policy. Drawing on economic, management, and organizational psychology theories, we investigate the influence of the financial development level on enterprise green innovation in LCPC, utilizing data from listed companies between 2010 and 2018. The main finding is that LCPC facilitates institutional-level green innovation. Concurrently, financial development augments the effectiveness of LCPC policy, further expediting green innovation activities among enterprises in these pilot cities. Heterogeneity analyses reveal that financial development significantly promotes green innovation, particularly among state-owned enterprises, those with myopic management, non-high technology industries, and businesses in the southern region within LCPC. Mechanism tests identify enterprises' financing constraints and R&D investment levels as key pathways through which financial development fosters green economic development in LCPC. This study provides micro-level evidence from China elucidating the effects of environmental policies and offers practical implications for the low-carbon transformation of the manufacturing sector amid peak emissions and carbon-neutral targets. Additionally, it provides valuable guidance for other emerging economies seeking enhanced resource and environmental protection through the implementation of energy-saving and emission-reduction fiscal policy.

The role of ICT investment, digital financial inclusion, and environmental tax in promoting sustainable energy development in the MENA region: Evidences with Dynamic Common Correlated Effects (DCE) and instrumental variable-adjusted DCE.

His research investigates the interplay among investment in Information and Communication Technology [ICT], digital financial inclusion, environmental tax policies, and their impact on the progression of sustainable energy development within the Middle East and North Africa [MENA] region. Recognizing the distinctive hurdles impeding sustainable energy advancement, effective policy formulation and implementation in MENA necessitate a comprehensive understanding of these variables. Employing a Dynamic Common Correlated Effects [DCE] model alongside an instrumental variable-adjusted DCE approach, this study explores the relationship between ICT investment, digital financial inclusion, environmental tax, and sustainable energy development. The DCE model facilitates the analysis of dynamic effects and potential correlations, while the instrumental variable-adjusted DCE model addresses issues pertaining to endogeneity. The results indicate that both ICT investment and the promotion of digital financial inclusion significantly and positively impact sustainable energy development in the MENA region. Additionally, the study underscores the importance of environmental tax implementation in fostering sustainable energy advancement, highlighting the critical role of environmental policy interventions. Based on these findings, governmental prioritization of ICT investment and initiatives for digital financial service integration is recommended to bolster sustainable energy growth in MENA. Furthermore, the adoption of efficient environmental tax measures is essential to incentivize sustainable energy practices and mitigate environmental degradation. These policy recommendations aim to create a conducive environment for sustainable energy progression in the MENA region, contributing to both economic prosperity and environmental conservation.

Government fiscal decentralization and haze and carbon reduction: Evidence from the fiscal Province-Managing-County reform.

Government governance reform is not only a vital motivation for high economic quality but also an important factor in stimulating the government's environmental governance responsibility. The article empirically examines the fiscal Province-Managing-County (PMC) pilot reform on the synergic governance of haze and carbon reduction and its mechanism. The results show that the policy helps to realize the synergic governance of haze and carbon reduction, and the reform of fiscal Province-Managing-County promotes regional haze and carbon reduction mainly through structural effect, innovation effect, and fiscal expenditure responsibility effect. The heterogeneity analysis shows that the policy has an asymmetric effect on haze and carbon reduction under different administrative structures, economic structures and levels of government intervention. Further analysis shows a policy linkage effect between this policy and the Green Fiscal Policy. The policy has the situation of blood-sucking in the provincial capital city and leads to an increase in financial funds. The above results prove that the policy can help to realize haze and carbon reduction and provide practical ideas for the further expansion of the policy. At the same time, it provides the direction for the local government to realize the double-carbon goal.

Accounting for the increasing benefits from scarce ecosystems.

As people get richer, and ecosystem services scarcer, policy-relevant estimates of ecosystem value must rise.

Strategies and Challenges for the Circular Economy: a Case Study in Portugal and a Panorama for Brazil

Abstract: This article is about a case study based on the participation and contact with dynamized activities through action plans for the circular economy in Europe, specifically in Portugal. It aims to identify the main in-progress actions and the challenges for the diffusion of the circular economy in the Portuguese nation and draw a panorama for Brazil, transiting through different data sources, economic sectors and stakeholders. Through data triangulation, the investigative plan contemplated participatory observations in workshops, interviews with experts, documental analyses and means of communication. After going through data cross checking for validation, the content was aggregated to a strategic analysis matrix. As a result, it was possible to identify the strengths, weaknesses, opportunities and challenges associated with the growth of the circular economy in Portugal, as well as to indicate directions and possibilities in the Brazilian context. It is possible to realize, for both countries, the importance of the international benchmarking for the recognition and promotion of circular economy actions, besides the necessity to revise laws aligned with the internal e external market rules, by increasing the offer of circular products and services.

Lean diesel technology and human health: a case study in six Brazilian metropolitan regions

OBJECTIVE: Due to their toxicity, diesel emissions have been submitted to progressively more restrictive regulations in developed countries. However, in Brazil, the implementation of the Cleaner Diesel Technologies policy (Euro IV standards for vehicles produced in 2009 and low-sulfur diesel with 50 ppm of sulfur) was postponed until 2012 without a comprehensive analysis of the effect of this delay on public health parameters. We aimed to evaluate the impact of the delay in implementing the Cleaner Diesel Technologies policy on health indicators and monetary health costs in Brazil. METHODS: The primary estimator of exposure to air pollution was the concentration of ambient fine particulate matter (particles with aerodynamic diameters <2.5 μm, [PM2.5]). This parameter was measured daily in six Brazilian metropolitan areas during 2007-2008. We calculated 1) the projected reduction in the PM2.5 that would have been achieved if the Euro IV standards had been implemented in 2009 and 2) the expected reduction after implementation in 2012. The difference between these two time curves was transformed into health outcomes using previous dose-response curves. The economic valuation was performed based on the DALY (disability-adjusted life years) method. RESULTS: The delay in implementing the Cleaner Diesel Technologies policy will result in an estimated excess of 13,984 deaths up to 2040. Health expenditures are projected to be increased by nearly US$ 11.5 billion for the same period. CONCLUSIONS: The present results indicate that a significant health burden will occur because of the postponement in implementing the Cleaner Diesel Technologies policy. These results also reinforce the concept that health effects must be considered when revising fuel and emission policies.

Antecedentes para una política gubernamental de energía que favorezca la salud, el ambiente, la economía y la soberanía nacional / Basis for a government policy on energy that may sustain health, the environment, the economy and national autonomy: use of non conventional renewable sources

Se presentan los peligros que las energías convencionales y la nuclear significan para la salud humana, el desarrollo económico y la sustentabilidad de la vida. Se ha calculado que la única solución efectiva es el pronto y definitivo cese del uso de combustibles fósiles, los cuales pueden y deben ser sustituidos por energías renovables no convencionales (ERNC): eólica, solar, geotermia y mareas. Son limpias, económicas e inagotables. Se describen algunas medidas complementarias útiles, pero que de por sí no solucionan la crisis. En Chile las ERNC son conocidas y se están ensayando. Pero el gobierno sigue otros caminos, que aquí se discuten por ser inefectivos y nocivos. Se propone aprovechar las oportunidades actuales para que se acuerde una política energética nacional moderna, bien informada e integral, con participación de la ciudadanía, de las profesiones de la salud y de todas las instituciones involucradas.

Anais do Workshop Rio 92: cinco anos depois

Define a Agenda 21 e suas principais qualidades e poderes, o que significa implementar e elaborar a Agenda 21 regional e como esse processo se relaciona com o planejamento estratégico

Indicadores ambientais no Brasil: aspectos ecológicos, de eficiência e distributivos / Environmental indicators in Brazil: ecological aspects, of the efficiency and distributives

Procura apresentar indicadores ambientais que näo retratem somente os aspectos ambientais (degradaçäo e exaustäo dos usos dos recursos naturais), mas também revelem a dimensäo econômica (eficiência alocativa do uso dos recursos) e equitativa (distribuiçäo dos custos e benefícios do uso dos recursos) das principais questöes ambientais do Brasil. Indica alguns aspectos que definem o grau de sustentabilidade uma economia brasileira

Reflexöes sobre o desenvolvimento sustentável / Reflections on sustainable development

Analisa o desenvolvimento sustentável como desenvolvimento social e econômico e a sustentabilidade ecológica e ambiental. Apresenta um sistema contábil apropriado e faz revisäo dos indicadores atuais

Políticas ambientais no Mercosul e as experiências da integraçäo européia / Environmental policies in Mercosul and the experiences of European integration

Reúne palestras apresentadas no Seminário Internacional de Políticas Ambientais no Mercosul e as experiências da Integraçäo Européia

Mecanismos governamentais para o desenvolvimento sustentado / Government devices for the economic development

A trajetória de um país está na mobilizaçäo de suas próprias energias e potencialidades. Esta trajetória poderá ser facilitada através de estratégias setoriais e regionais baseadas em comprovadas vantagens competitivas. Estas estratégias dependem, no entanto, de esforços interorganizacionais concentrados que resultam em açöes coordenadas a prioridades nacionais (educaçäo, integraçäo regional, geraçäo de emprego, reduçäo das desigualdades) e mundiais (globalizaçäo dos mercados, consciência ambiental, modernizaçäo tecnológica e industrial)

Simpósio Avaliaçäo de Impacto Ambiental: situaçäo atual e perspectivas; textos apresentados e debates / Environment impact assessment symposium: situation and perspectives present

Discute algumas idéias relacionadas ao conceito de desenvolvimento sustentável e seus reflexos na prática da avaliaçäo de impacto ambiental, atendo-se menos a uma situaçäo específica do Brasil, e introduzindo a questäo de uma maneira mais ampla

Administraçäo e meio ambiente / Administration and environment

As organizaçöes formais säo entidades mediadoras no processo de produçäo e consumo. O predomínio da economia de mercado propicia práticas predatórias e deculturativas. Limites bionergéticos e termodinâmicos revelam que a preservaçäo ambiental é fundamental para a sobrevivência do planeta. A obra de Guerreiro Ramos demonstra a interligaçäo entre a delimitaçäo do mercado e a Ecologia.