In October 2023, the EU Carbon Border Adjustment Mechanism (CBAM), a part of the reform of the European Emissions Trading System (EU ETS), will come into effect. Currently, energy-intensive industries do not need to purchase all of the necessary EU ETS allowances on the market to remain globally competitive, as the remaining allowances are freely allocated to them. The CBAM plans to gradually replace ...
Im Oktober 2023 tritt das Europäische CO2-Grenzausgleichssystem (Carbon Border Adjustment Mechanism, CBAM) in Kraft. Der neue Mechanismus ist Teil einer Reform des Europäischen Emissionshandels (EHS). Derzeit müssen energieintensive Industrien nur einen Teil der EHS-Emissionszertifikate am Markt kaufen, damit sie im globalen Wettbewerb bestehen können. Der Rest wird frei zugeteilt. Der CBAM soll diese ...
This paper examines the drivers of Algeria's energy transformation as well as the cross-cutting issues and challenges in the transformation process. It suggests a framework that accelerates sustainable transformation based on the ideologies of systemic reasoning. Interviews were conducted with 20 energy experts in Algeria, along with a content analysis of policy documents, reports, and previous studies. ...
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 ...
This study examines whether central banks can combat inflation that is caused by rising energy prices. By using a high-frequency event study and a Structural Vector Autoregression, we find evidence that the European Central Bank (ECB) and the Federal Reserve (Fed) are capable of doing so by affecting domestic and global energy prices. This “energy-price channel” of monetary policy plays an important ...
Using machine learning methods in a quasi-experimental setting, I study the heterogeneous effects of introducing waste prices - unit prices on household unsorted waste disposal - on waste demands and municipal costs. Using a unique panel of Italian municipalities with large variation in prices and observables, I show that waste demands are nonlinear. I find evidence of constant elasticities at low ...