Although pension funds have gained importance in the last two decades, their role has not been described in detail by economic models. This paper focusses on the scope of these institutional investors when they are not satisfied with a management team of a company in which the pension fund holds...

The links between emission and energy markets are of great interest to practitioners, academics and policy makers. In this paper, it is conjectured that a positive relationship exists between emission allowance spot returns and electricity risk premia within the European Union Emissions Trading...

CO2 emission certificates are traded with increasing liquidity within the EU emissions trading scheme. Besides spot certificates, forwards and futures are also currently available OTC and on exchanges across Europe. The focus of this study is on the relationship between spot and futures markets...

This document provides a subjective categorisation of the responsible investment literature in eight main bodies of literature and twenty-three sub-literature bodies. It is based on a literature scan of twelve relevant bibliographies. Web links to the four most exhaustive among these...

A környezetvédelmi problémák előtérbe kerülése után számosan vetették fel, hogy a közgazdaságtan nem foglalkozik a gazdaság optimális méretének meghatározásával, pedig a Föld véges anyagi keretei között a gazdaság nagyságát nem lehet minden határon túl növelni. Az...

Dividing the burden for greenhouse gas abatement amongst the provinces has proven challenging in Canada, and is a major factor contributing to Canada's poor historic performance on greenhouse gas abatement. As the country aims to achieve substantial cuts to emissions over the next decade and by...

Hay un debate importante sobre diferentes nociones de Crecimiento Verde. Particularmente los diálogos producidos en la cumbre Rio +20, las propuestas de la OECD, el Banco Mundial y SELA. Paralelamente sigue la discusión de la pertinencia o no de la vigencia de la definición de desarrollo...

We consider the effect of an increase in the risk from pollution. We show that in the case of a flow pollution, when the number of players is sufficiently large, the result of Bramoulle and Treich [<italic>Journal of the European Economic Association</italic>, 2009], showing that a marginal increase of risk in...

The materials-balance principle points to the crucial role of material inputs in generating residuals in production processes. Pollution modelling must be of a multi-output nature. The most flexible transformation function in outputs and inputs used in textbooks is too general to make sense in...

This article develops a framework for environmental policy analysis based on an encompassing assessment of transaction costs. This approach emphasizes the <italic>ex ante</italic> costs of establishing environmental entitlements, and the <italic>ex post</italic> costs of administrating, monitoring, and enforcing them. The...