The selection of climate policy has to be made in an extremely uncertain environment: both benefits and costs of a particular climate policy are unknown and in the best case could be described by the probability distribution of various outcomes. Dominated in literature, the expected value...

In a regulated world where government seeks to decarbonize the energy sector, firms face both indirect and direct costs of emitting CO2. This study seeks to take the perspective of the firm, which needs to maximize profits implying minimization of (carbon) cost as well. In this study, the firm...

In the last decade a number of papers have analysed the consequences of achieving the greenhouse gas concentration levels necessary to maintain global temperature increases below 2°C above preindustrial levels. Most models and scenarios assume that future trends in global GDP will be similar to...

Climate change is one of the most significant challenges faced by societies this century. Energy consumption is directly associated with CO2 emissions and climate change. The European Commission has set out emission reduction targets that require a great deal of energy consumption savings in the...

The paper develops a framework to analyze energy security in an expected utility framework, where there is a risk of disruption of imported energy. The analysis shows the importance of an energy tax as a tool in maximizing expected utility, and how the level of that tax varies according to the...

Using the latest available data, this brief article attempts to provide the first regional decomposition analysis of CO2 emissions from fuel combustion. Covering eight regions of the world, determinants are estimated in relative and absolute terms for the period 1971–2010. We use the...