Suchergebnisse

AbstractThe EU ETS represents the cornerstone of the EU climate policy framework. While most of the studies focus on the determinants of carbon price, this work will provide further insights into the influence of European Emission Allowance (EUA) prices on carbon dioxide trends and variables of the economic-financial-climate-environmental system considering a large set of time series. Results highlighted how CO2 appears to be more influenced by commodity prices, climate variables, and past industrial performances. Furthermore, a shock in carbon prices could potentially exert significant turbulence on the carbon dioxide series, fading in intensity as time goes by. Overall, there appears to be a net positive effect on the influence of carbon prices on the system. However, robustness checks identified how the impact of carbon price on CO2 and other variables of the model is still weak. This work sheds light on the EU ETS's influence on a set of multidimensional variables. Still, overlapping national policies appear to interfere with the EU ETS effectiveness in the EU.

Carbon is fundamental for life on Earth and for humans. The last century has witnessed an increase in concentration of carbon dioxide in the atmosphere due to anthropogenic activities. This has generated abrupt and irreversible changes in climate with possible consequences on production, consumption and livelihood of humans. Charging a reliable price to carbon might represent one way to reach an ideal level of carbon emissions leading to sustainable consumption, production and investment patterns. According to some studies, the marketplace would be the ideal solution at policy level to provide a price to carbon. On the other hand, an appropriate price to carbon is at the backbone to undertake a full transition towards sustainability of the financial sector, among others. Sustainable finance entails tackling climate-related risk along with reliable information and (carbon) price signals for investors. The following work will be dealing with some aspects related to the role of carbon and financial markets in the transition towards sustainability. The first chapter will adopt a methodology including lasso-based optimization in time series econometrics to analyse EU ETS price behavior with respect to a wide set of variables including CO2. The second chapter will be analysing profiles of EU countries in terms of environmental performance, energy efficiency and renewable sources via cluster algorithm. The third chapter is an exploratory work on the role of financial innovation tackling specific classes of risk of sustainability-oriented projects including climate-related risk. Considering all the limitations of the methodology, results highlighted how carbon and financial markets need to function under the same pillars (e.g., commitment, transparency, price signals). The overall aim of the dissertation will be to investigate on the role so far of markets towards the sustainability transition considering its structural limitations (e.g., equity). ; Il carbonio è un elemento fondamentale per la vita sulla Terra e gli ...

International audience ; The European Union faced several crises in the last twenty years that destabilized its macroeconomic equilibrium and development capacity. Standard economic methodologies were capable of neither predicting nor completely solving these crises through appropriate investments. To understand the overall development performance, the well-known Human Development Index (HDI) is the most widely deployed conceptual framework. In this article, we look at the components of welfare dynamics in the EU by examining socioeconomic performance. Through a 'beyond gross domestic product (GDP)' * The research is conceptually related to the activities of the European Topic Centre on Waste, materials and the Green Economy (ETC WMGE, European Environment Agency). It is also within the research activities of the 2018-2022 UNIFE project on Circular economy, Innovations and SMEs funded by MIUR Italian ministry under the 'Departments of excellence' programme, and the activities of the related CERCIS research centre on Circular Economy, Innovation and SMEs.

International audience The European Union faced several crises in the last twenty years that destabilized its macroeconomic equilibrium and development capacity. Standard economic methodologies were capable of neither predicting nor completely solving these crises through appropriate investments. To understand the overall development performance, the well-known Human Development Index (HDI) is the most widely deployed conceptual framework. In this article, we look at the components of welfare dynamics in the EU by examining socioeconomic performance. Through a 'beyond gross domestic product (GDP)' * The research is conceptually related to the activities of the European Topic Centre on Waste, materials and the Green Economy (ETC WMGE, European Environment Agency). It is also within the research activities of the 2018-2022 UNIFE project on Circular economy, Innovations and SMEs funded by MIUR Italian ministry under the 'Departments of excellence' programme, and the activities of the related CERCIS research centre on Circular Economy, Innovation and SMEs.