Das Finanzsystem ist zentraler Bestandteil der Weltwirtschaft und hat das Potenzial, als Katalysator des Wandels hin zu einer nachhaltigen Wirtschaft und Gesellschaft zu fungieren. Um dieser Rolle gerecht zu werden sind jedoch die Abkehr von bisherigen finanziellen Praktiken und weitgehende Reformen des Finanzsystems nötig. Dieser Beitrag beschäftigt sich spezifisch mit dem Phänomen Greenwashing im ...
The future of coal remains contested in many countries, hindering necessary energy transitions. Collaborative governance approaches, such as stakeholder commissions, have been proposed as potential solution to resolve such societal conflicts. In Germany, a stakeholder commission process managed to overcome the existing stalemate situation, leading to the adoption of a coal phase-out by 2038. Celebrated ...
I examine the Coasean independence property in a large multinational cap-and-trade scheme for greenhouse gas emissions, the EU Emissions Trading System. I analyze whether emissions of power producers are independent from allowance allocations by leveraging a change in allocation policy for a difference-in-differences strategy. The evidence suggests that the independence property holds overall and for ...
Various stakeholders are increasingly encouraging companies from the real economy to adopt measures facilitating their transition towards carbon neutrality. In this context, companies are expected to implement forward-looking strategies and climate-related reporting practices using scenario analysis aligned with scientific evidence and credible pathways to net zero carbon emissions. This paper examines ...
This study investigates whether public procurement mitigates or exacerbates innovative enterprises’ financial constraints. We distinguish between general and environmentally beneficial innovative enterprises. Theory suggests that the treatment effects of public procurement, particularly when mediated by the demand-pull effect, may lower a company’s funding constraints for innovation. We test this theory ...
Adjusting green public support programmes to green premiums can reduce public spending, yet this is challenged by uncertainty. Underfunding green technologies can delay the green transition, and overfunding them can increase transition costs. Both risks of under- and overfunding can be reduced using responsive adjustments.
While countries increasingly commit to pricing greenhouse gases directly through carbon taxes or emissions trading systems, indirect forms of carbon pricing—such as fuel excise taxes and fuel subsidy reforms—remain important factors affecting the mitigation incentives in an economy. Taken together, how can policy makers think about the overall price signal for carbon emissions and the incentive it ...