Market efficiency in the European carbon markets

International Nuclear Information System (INIS)

Charles, Amélie; Darné, Olivier; Fouilloux, Jessica

2013-01-01

In this paper, we study the relationship between futures and spot prices in the European carbon markets from the cost-of-carry hypothesis. The aim is to investigate the extent of efficiency market. The three main European markets (BlueNext, EEX and ECX) are analyzed during Phase II, covering the period from March 13, 2009 to January, 17, 2012. Futures contracts are found to be cointegrated with spot prices and interest rates for several maturities in the three CO 2 markets. Results are similar when structural breaks are taken into account. According to individual and joint tests, the cost-of-carry model is rejected for all maturities and CO 2 markets, implying that neither contract is priced according to the cost-of-carry model. The absence of the cost-of-carry relationship can be interpreted as an indicator of market inefficiency and may bring arbitrage opportunities in the CO 2 market. - Highlights: • We study the cost-of-carry hypothesis in the European carbon markets during Phase 2. • We apply cointegration tests with and without structural breaks on several maturities. • We find that futures contracts are cointegrated with spot prices and interest rates. • The cost-of-carry model is rejected for all maturities and carbon markets

Global marketing and globalization miths Os mitos do marketing global e da globalização

Directory of Open Access Journals (Sweden)

Renato Rodrigues Martins

2012-05-01

Full Text Available Global marketing and advertising: understanding cultural paradoxes, de Marieke de Mooij, 3rd ed. Thousand Oaks, CA. Sage Publications, 2010, 322p.Global marketing and advertising: understanding cultural paradoxes, de Marieke de Mooij, 3rd ed. Thousand Oaks, CA. Sage Publications, 2010, 322p.

Did Globalization Influence Credit Market Deregulation

OpenAIRE

Eppinger, Peter; Potrafke, Niklas

2015-01-01

We investigate whether globalization influenced credit market deregulation over the period 1970-2010. Globalization is measured by the KOF indices of globalization. Credit market deregulation is measured by the credit market freedom indicators of the Fraser Institute. The results from both cross-sectional and panel regressions using ordinary least squares indicate a positive correlation between globalization and credit market deregulation. We account for reverse causality by using predicted t...

Romanian Market Researches in Global Market Context

Directory of Open Access Journals (Sweden)

Victor Danciu

2006-03-01

Full Text Available Market research is a powerful industry, whose value reached 21,5 billion USD in 2004. Market studies expenses are mostly concentrated in Europe (45% and in USA (37%. The market shares of the Top 10 companies were above fifty per cent of the research market’s turnover. As a young, modest market, which is 0,84% of the global expenses value, Romania was the global leader in terms of growth, in 2004. With an asymmetric demand and a relatively concentrated offer, the Romanian research market may have a spectacular development in the future, if the obstacles for the customers and research companies are surpassed. If so, the pressures following the UE’s entry of Romania and the evolution of customers needs and expectations will speed up the growth of the market research.

Romanian Market Researches in Global Market Context

Directory of Open Access Journals (Sweden)

Victor Danciu

2006-05-01

Full Text Available Market research is a powerful industry, whose value reached 21,5 billion USD in 2004. Market studies expenses are mostly concentrated in Europe (45% and in USA (37%. The market shares of the Top 10 companies were above fifty per cent of the research market’s turnover. As a young, modest market, which is 0,84% of the global expenses value, Romania was the global leader in terms of growth, in 2004. With an asymmetric demand and a relatively concentrated offer, the Romanian research market may have a spectacular development in the future, if the obstacles for the customers and research companies are surpassed. If so, the pressures following the UE’s entry of Romania and the evolution of customers needs and expectations will speed up the growth of the market research.

Tax regulating carbon market in Brazil: barriers and perspectives

International Nuclear Information System (INIS)

Marques, Fernando; Magalhaes, Gerusa; Parente, Virginia

2010-01-01

The world is moving towards a low carbon economy to fight global warming caused by increases in anthropogenic emissions of greenhouse gases (GHGs). The carbon market beckons as a promising opportunity for Brazil through Clean Development Mechanism (CDM) projects, which result in Certified Emission Reductions (CERs). Although Brazil is responsible for about 8% of all CDM projects in the world, there is still no specific tax regulation for CERs, thus hindering the development of carbon market in Brazil. It is essential that Brazil have a consistent internal framework which guarantees to potential investors a minimum security on the legal and fiscal operations of CERs. There are government institutions, considering the current law and that, given the number of bills being processed in Congress, are not definitive. Such bills have different understandings for the legal classification of CERs and the related tax treatment. This article supports an urgent need for a regulatory tax system for CERs, proposing a tax exemption on transactions involving CERs in order to encourage the effective development of carbon markets in Brazil in the context of the currently international legal system in which Kyoto Protocol is based. (author)

Projection of U.S. forest sector carbon sequestration under U.S. and global timber market and wood energy consumption scenarios, 2010-2060

Science.gov (United States)

Prakash Nepal; Peter J. Ince; Kenneth E. Skog; Sun J. Chang

2012-01-01

This study provides a modeling framework to examine change over time in U.S. forest sector carbon inventory (in U.S. timberland tree biomass and harvested wood products) for alternative projections of U.S. and global timber markets, including wood energy consumption, based on established IPCC/RPA scenarios. Results indicated that the U.S. forest sector’s projected...

Global power: Markets and strategies

International Nuclear Information System (INIS)

Poirer, J.L.

1998-01-01

The author will first present an updated view of the global power market activity, including opportunities in power generation, transmission and distribution. This will include a review of the trends in closings and transaction flowed by type of activity and geographic area. Estimates will be based on Hagler Bailly's comprehensive database on global power transactions and project announcements. The firm has also worked with dozens of global power companies since 1990. Second, the author will review trends in terms of regulatory changes, project cost trends, developers' project experiences, and financing issues. This systematic review will be the foundation for projection of future market activity (e.g., number of closing by type of project through 2000). A forecast of future greenfield and privatization activity will be provided and the key markets will be highlighted. Third, the author will present an updated view of the competition in the global power market (including the various types of competitors and changes in their respective market posture). Finally, the author will discuss the various types of strategies and business models that are followed by key global power players

The Influence of Low-carbon Economy on Global Trade Pattern

Science.gov (United States)

Xiao-jing, Guo

Since global warming has seriously endangered the living environment of human being and their health and safety, the development of low-carbon economy has become an irreversible global trend. Under the background of economic globalization, low-carbon economy will surely exert a significant impact on global trade pattern. Countries are paying more and more attention to the green trade. The emission permits trade of carbon between the developed countries and the developing countries has become more mature than ever. The carbon tariff caused by the distribution of the "big cake" will make the low-cost advantage in developing countries cease to exist, which will, in turn, affect the foreign trade, economic development, employment and people's living in developing countries. Therefore, under the background of this trend, we should perfect the relevant laws and regulations on trade and environment as soon as possible, optimize trade structure, promote greatly the development of service trade, transform thoroughly the mode of development in foreign trade, take advantage of the international carbon trading market by increasing the added value of export products resulted from technological innovation to achieve mutual benefit and win-win results and promote common development.

Combating global warming. Possible rules, regulations and administrative arrangements for a global market in CO2 emission entitlements

International Nuclear Information System (INIS)

1994-12-01

When in 1991 the UNCTAD secretariat launched its research into the idea of controlling carbon dioxide emissions through a system of 'tradeable permits', there was little support for this approach. Some felt that the idea was premature and should not detract from efforts to introduce more conventional measures, such as environmental taxes and new regulations. However, in a few short years, the idea of using tradeable market-based instruments to combat global warming has gained widespread acceptance. The UNCTAD secretariat's 1992 study on a global system of tradeable carbon emission entitlements (UNCTAD/RDP/DFP/1), was widely regarded as a major breakthrough in this area. This study argued that tradeable permits were both an efficient means of controlling man-made carbon dioxide emissions at minimum cost, and an effective mechanism for transferring resources to developing countries and countries in transition, to help them to contribute to the international effort to abate emissions of greenhouse gases. The study contained a detailed assessment of key technical elements of a tradeable CO 2 entitlements system, including permit allocation techniques, resource transfers, equity/distributional implications, institutional and administrative requirements. The present publication explores the institutional requirements for both policy-making and the organization of a global market in CO 2 emission allowances. It shows that one can start with a simple pilot scheme based on the joint implementation of commitments, which constitutes the cornerstone of the Framework Convention, and evolve gradually to a more complete system on the basis of 'learning by doing'. Since the use of markets can dramatically lower the cost of controlling greenhouse gas emissions, it is clearly in the self-interest of major emitters to act as 'market leaders' willing to pioneer

Business Ethics in Globalized Financial Markets

OpenAIRE

Peter Koslowski

2006-01-01

Globalization extends the space of the things that are simultaneous for the human. This applies particularly to the decision-making in financial markets. The global market for capital is one of the main causes for globalization. How is this process of globalization to be judged from the point of view of business ethics? The paper investigates the ethical foundations of capital markets and of financial consulting. It analyzes the foundational theories of corporate governance in the Anglo-Ameri...

Transforming Global Markets for Clean Energy Products

Energy Technology Data Exchange (ETDEWEB)

NONE

2010-07-01

This paper looks at three clean energy product categories: equipment energy efficiency; low-carbon transport, including high-efficiency vehicles and electric/plug-in hybrid electric vehicles (EV/PHEVs); and solar photovoltaic (PV) power. Each section identifies ways to enhance global co-operation among major economies through case studies and examples, and ends with specific suggestions for greater international collaboration on market transformation efforts. An annex with more detailed case studies on energy-efficient electric motors, televisions, external power supplies and compact fluorescent lights is included in the paper.

Forestry and the carbon market response to stabilize climate

International Nuclear Information System (INIS)

Tavoni, Massimo; Sohngen, Brent; Bosetti, Valentina

2007-01-01

This paper investigates the potential contribution of forestry management in meeting a CO 2 stabilization policy of 550 ppmv by 2100. In order to assess the optimal response of the carbon market to forest sequestration, we couple two global models. An energy-economy-climate model for the study of climate policies is linked with a detailed forestry model through an iterative procedure to provide the optimal abatement strategy. Results show that forestry is a determinant abatement option and could lead to significantly lower policy costs if included. Linking forestry management to the carbon market has the potential to alleviate the policy burden of 50 ppmv or equivalently of 1/4 deg. C, and to significantly decrease the price of carbon. Biological sequestration will mostly come from avoided deforestation in tropical-forest-rich countries. The inclusion of this mitigation option is demonstrated to crowd out some of the traditional abatement in the energy sector and to lessen induced technological change in clean technologies

Pathways to Global Markets

DEFF Research Database (Denmark)

Smith, David E.; Mitry, Darryl J.

2011-01-01

. An important case study is McDonald‘s corporation, the world‘s largest fast food restaurant chain. This company has employed divergent marketing and economic strategies in both domestic and the international markets to become a leader in the global marketplace. An overview of the company‘s background......, organizational structures, mission and vision illustrate McDonald‘s strategic focus on its proactive evolution from a small drive-through operation to a global fast-food giant. The strategy is based on its ability to adapt to the cultural differences of the markets that McDonald‘s serves while preserving its...

World cheating on the carbon market

International Nuclear Information System (INIS)

James, O.

2010-01-01

According to several non-governmental organizations, some industrial producers take advantage of a flaw in one of the carbon market mechanisms set up by the Kyoto protocol. These industrialists, mainly from China and India, are involved in the production of HCFC22 refrigerants, and make a substantial profit by artificially generating more greenhouse gases (HFC23) than necessary, then destroying them in order to collect carbon credits which they sell on the carbon market. Explanations about the cheat, details about companies and banks involved in the system, review of past trickeries in carbon quotas, and ways to improve the carbon market are presented

Implications of Carbon Regulation for Green Power Markets

Energy Technology Data Exchange (ETDEWEB)

Bird, Lori [National Renewable Energy Lab. (NREL), Golden, CO (United States); Holt, Ed [Ed Holt & Associates Inc., Harpeswell, ME (United States); Carroll, Ghita [National Renewable Energy Lab. (NREL), Golden, CO (United States)

2007-04-01

This paper examines the potential effects that emerging mandatory carbon markets have for voluntary markets for renewable energy, or green power markets. In an era of carbon regulation, green power markets will continue to play an important role because many consumers may be interested in supporting renewable energy development beyond what is supported through mandates or other types of policy support. The paper examines the extent to which GHG benefits motivate consumers to make voluntary renewable energy purchases and summarizes key issues emerging as a result of these overlapping markets, such as the implications of carbon regulation for renewable energy marketing claims, the demand for and price of renewable energy certificates (RECs), and the use of RECs in multiple markets (disaggregation of attributes). It describes carbon regulation programs under development in the Northeast and California, and how these might affect renewable energy markets in these regions, as well as the potential interaction between voluntary renewable energy markets and voluntary carbon markets, such as the Chicago Climate Exchange (CCX). It also briefly summarizes the experience in the European Union, where carbon is already regulated. Finally, the paper presents policy options for policymakers and regulators to consider in designing carbon policies to enable carbon markets and voluntary renewable energy markets to work together.

Global carbon inequality

Energy Technology Data Exchange (ETDEWEB)

Hubacek, Klaus [University of Maryland, Department of Geographical Sciences, College Park, MD (United States); Masaryk University, Department of Environmental Studies, Brno (Czech Republic); Baiocchi, Giovanni [University of Maryland, Department of Geographical Sciences, College Park, MD (United States); University of Maryland, Department of Economics, College Park, MD (United States); Feng, Kuishuang [University of Maryland, Department of Geographical Sciences, College Park, MD (United States); Munoz Castillo, Raul [University of Maryland, Department of Geographical Sciences, College Park, MD (United States); Interamerican Development Bank, Washington, DC (United States); Sun, Laixiang [University of Maryland, Department of Geographical Sciences, College Park, MD (United States); SOAS, University of London, London (United Kingdom); International Institute for Applied Systems Analysis (IIASA), Laxenburg (Austria); Xue, Jinjun [Nagoya University, Graduate School of Economics, Nagoya (Japan); Hubei University of Economics, Wuhan (China)

2017-12-01

Global climate change and inequality are inescapably linked both in terms of who contributes climate change and who suffers the consequences. This fact is also partly reflected in two United Nations (UN) processes: on the one hand, the Paris Agreement of the UN Framework Convention on Climate Change under which countries agreed to hold the increase in the global average temperature to below 2 C above pre-industrial levels and, on the other hand, the UN's Sustainable Development Goals aiming to end poverty. These agreements are seen as important foundation to put the world nations on a sustainable pathway. However, how these agreements can be achieved or whether they are even mutually compatible is less clear. We explore the global carbon inequality between and within countries and the carbon implications of poverty alleviation by combining detailed consumer expenditure surveys for different income categories for a wide range of countries with an environmentally extended multi-regional input-output approach to estimate carbon footprints of different household groups, globally, and assess the carbon implications of moving the poorest people out of poverty. Given the current context, increasing income leads to increasing carbon footprints and makes global targets for mitigating greenhouse gases more difficult to achieve given the pace of technological progress and current levels of fossil fuel dependence. We conclude that the huge level of carbon inequality requires a critical discussion of undifferentiated income growth. Current carbon-intensive lifestyles and consumption patterns need to enter the climate discourse to a larger extent. (orig.)

Global carbon inequality

International Nuclear Information System (INIS)

Hubacek, Klaus; Baiocchi, Giovanni; Feng, Kuishuang; Munoz Castillo, Raul; Sun, Laixiang; Xue, Jinjun

2017-01-01

Global climate change and inequality are inescapably linked both in terms of who contributes climate change and who suffers the consequences. This fact is also partly reflected in two United Nations (UN) processes: on the one hand, the Paris Agreement of the UN Framework Convention on Climate Change under which countries agreed to hold the increase in the global average temperature to below 2 C above pre-industrial levels and, on the other hand, the UN's Sustainable Development Goals aiming to end poverty. These agreements are seen as important foundation to put the world nations on a sustainable pathway. However, how these agreements can be achieved or whether they are even mutually compatible is less clear. We explore the global carbon inequality between and within countries and the carbon implications of poverty alleviation by combining detailed consumer expenditure surveys for different income categories for a wide range of countries with an environmentally extended multi-regional input-output approach to estimate carbon footprints of different household groups, globally, and assess the carbon implications of moving the poorest people out of poverty. Given the current context, increasing income leads to increasing carbon footprints and makes global targets for mitigating greenhouse gases more difficult to achieve given the pace of technological progress and current levels of fossil fuel dependence. We conclude that the huge level of carbon inequality requires a critical discussion of undifferentiated income growth. Current carbon-intensive lifestyles and consumption patterns need to enter the climate discourse to a larger extent. (orig.)

Global Carbon Budget 2017

NARCIS (Netherlands)

Le Quere, Corinne; Andrew, Robbie M.; Friedlingstein, Pierre; Sitch, Stephen; Pongratz, Julia; Manning, Andrew C.; Korsbakken, Jan Ivar; Peters, Glen P.; Canadell, Josep G.; Jackson, Robert B.; Boden, Thomas A.; Tans, Pieter P.; Andrews, Oliver D.; Arora, Vivek K.; Bakker, Dorothee C. E.; Barbero, Leticia; Becker, Meike; Betts, Richard A.; Bopp, Laurent; Chevallier, Frederic; Chini, Louise P.; Ciais, Philippe; Cosca, Catherine E.; Cross, Jessica; Currie, Kim; Gasser, Thomas; Harris, Ian; Hauck, Judith; Haverd, Vanessa; Houghton, Richard A.; Hunt, Christopher W.; Hurtt, George; Ilyina, Tatiana; Jain, Atul K.; Kato, Etsushi; Kautz, Markus; Keeling, Ralph F.; Goldewijk, Kees Klein; Koertzinger, Arne; Landschuetzer, Peter; Lefevre, Nathalie; Lenton, Andrew; Lienert, Sebastian; Lima, Ivan; Lombardozzi, Danica; Metzl, Nicolas; Millero, Frank; Monteiro, Pedro M. S.; Munro, David R.; Nabel, Julia E. M. S.; Nakaoka, Shin-ichiro; Nojiri, Yukihiro; Padin, X. Antonio; Peregon, Anna; Pfeil, Benjamin; Pierrot, Denis; Poulter, Benjamin; Rehder, Gregor; Reimer, Janet; Roedenbeck, Christian; Schwinger, Jorg; Seferian, Roland; Skjelvan, Ingunn; Stocker, Benjamin D.; Tian, Hanqin; Tilbrook, Bronte; Tubiello, Francesco N.; van der Laan-Luijkx, Ingrid T.; van der Werf, Guido R.; van Heuven, Steven; Viovy, Nicolas; Vuichard, Nicolas; Walker, Anthony P.; Watson, Andrew J.; Wiltshire, Andrew J.; Zaehle, Soenke; Zhu, Dan

2018-01-01

Accurate assessment of anthropogenic carbon dioxide (CO2) emissions and their redistribution among the atmosphere, ocean, and terrestrial biosphere - the "global carbon budget" - is important to better understand the global carbon cycle, support the development of climate policies, and project

Global Carbon Budget 2016

NARCIS (Netherlands)

Le Quéré, Corinne; Andrew, Robbie M.; Canadell, Josep G.; Sitch, Stephen; Ivar Korsbakken, Jan; Peters, Glen P.; Manning, Andrew C.; Boden, Thomas A.; Tans, Pieter P.; Houghton, Richard A.; Keeling, Ralph F.; Alin, Simone; Andrews, Oliver D.; Anthoni, Peter; Barbero, Leticia; Bopp, Laurent; Chevallier, Frédéric; Chini, Louise P.; Ciais, Philippe; Currie, Kim; Delire, Christine; Doney, Scott C.; Friedlingstein, Pierre; Gkritzalis, Thanos; Harris, Ian A; Hauck, Judith; Haverd, Vanessa; Hoppema, Mario; Klein Goldewijk, Kees; Jain, Atul K.; Kato, Etsushi; Körtzinger, Arne; Landschützer, Peter; Lefèvre, Nathalie; Lenton, Andrew; Lienert, Sebastian; Lombardozzi, Danica; Melton, Joe R.; Metzl, Nicolas; Millero, Frank; Monteiro, Pedro M S; Munro, David R.; Nabel, Julia E M S; Nakaoka, Shin Ichiro; O'Brien, Kevin; Olsen, Are; Omar, Abdirahman M.; Ono, Tsuneo; Pierrot, Denis; Poulter, Benjamin; Rödenbeck, Christian; Salisbury, Joe; Schuster, Ute; Schwinger, Jörg; Séférian, Roland; Skjelvan, Ingunn; Stocker, Benjamin D.; Sutton, Adrienne J.; Takahashi, Taro; Tian, Hanqin; Tilbrook, Bronte; Van Der Laan-Luijkx, Ingrid T.; Van Der Werf, Guido R.; Viovy, Nicolas; Walker, Anthony P.; Wiltshire, Andrew J.; Zaehle, Sönke

2016-01-01

Accurate assessment of anthropogenic carbon dioxide (CO2) emissions and their redistribution among the atmosphere, ocean, and terrestrial biosphere-the "global carbon budget"-is important to better understand the global carbon cycle, support the development of climate policies, and project future

Analysis of the German market for voluntary carbon offsetting; Analyse des deutschen Marktes zur freiwilligen Kompensation von Treibhausgasemissionen

Energy Technology Data Exchange (ETDEWEB)

Kind, Christian; Duwe, Sebastian; Taenzler, Dennis; Reuster, Lena [adelphi research gGmbH, Berlin (Germany); Kleemann, Max; Krebs, Jan-Marten [sustainable AG, Muenchen (Germany)

2010-12-15

In the past years the market for voluntary carbon offsetting has developed rapidly. Certificates sold on this market originate partly from the compliance market, i.e. from projects of the Clean Development Mechanism and the Joint Implementation. Mostly, however, certificates stem from projects of the voluntary carbon market. Voluntary carbon offsetting can serve as another mechanism to efficiently prevent emissions, while at the same time achieving co-benefits. Very little is known however of the exact state of the voluntary carbon market, e.g. factors like business volume, market actors, origin of certificates or the efficacy of the voluntary market. Analyses of the market on the global market for voluntary offsetting do exist (ENDS, Hamilton et al. 2007, 2008, 2009); however they do not allow any conclusions for the market situation in Germany. This study aims at closing this gap. From the end of 2009 until the beginning of 2010 adelphi and sustainable interviewed providers of offset services, intermediaries, certifiers and consumers like businesses and public institutions on their activities in the voluntary carbon offset market in Germany. (orig.)

Using E-markets for Globally Distributed Work

NARCIS (Netherlands)

van Hillegersberg, Jos; Amrit, Chintan Amrit; Oshri, Ilan; Kotlarsky, Julia; Willcocks, Leslie P.

2015-01-01

For over a decade, dedicated E-markets have been facilitating globally distributed systems development by enhancing the traditionally high-risk global sourcing processes. At the same time, the success and potential of E-markets for sourcing project globally can be questioned, as E-markets embody a

Global Carbon Budget 2016

NARCIS (Netherlands)

Quéré, Le Corinne; Andrew, Robbie M.; Canadell, Josep G.; Sitch, Stephen; Korsbakken, Jan Ivar; Peters, Glen P.; Manning, Andrew C.; Boden, Thomas A.; Tans, Pieter P.; Houghton, Richard A.; Keeling, Ralph F.; Alin, Simone; Andrews, Oliver D.; Anthoni, Peter; Barbero, Leticia; Bopp, Laurent; Chevallier, Frédéric; Chini, Louise P.; Ciais, Philippe; Currie, Kim; Delire, Christine; Doney, Scott C.; Friedlingstein, Pierre; Gkritzalis, Thanos; Harris, Ian; Hauck, Judith; Haverd, Vanessa; Hoppema, Mario; Klein Goldewijk, Kees; Jain, Atul K.; Kato, Etsushi; Körtzinger, Arne; Landschützer, Peter; Lefèvre, Nathalie; Lenton, Andrew; Lienert, Sebastian; Lombardozzi, Danica; Melton, Joe R.; Metzl, Nicolas; Millero, Frank; Monteiro, Pedro M.S.; Munro, David R.; Nabel, Julia E.M.S.; Nakaoka, S.; O'Brien, Kevin; Olsen, Are; Omar, Abdirahman M.; Ono, Tsuneo; Pierrot, Denis; Poulter, Benjamin; Rödenbeck, Christian; Salisbury, Joe; Schuster, Ute; Schwinger, Jörg; Séférian, Roland; Skjelvan, Ingunn; Stocker, Benjamin D.; Sutton, Adrienne J.; Takahashi, Taro; Tian, Hanqin; Tilbrook, Bronte; Laan-Luijkx, van der Ingrid T.; Werf, van der Guido R.; Viovy, Nicolas; Walker, Anthony P.; Wiltshire, Andrew J.; Zaehle, Sönke

2016-01-01

Accurate assessment of anthropogenic carbon dioxide (CO2) emissions and their redistribution among the atmosphere, ocean, and terrestrial biosphere – the “global carbon budget” – is important to better understand the global carbon cycle, support the development of climate policies, and project

Conceptualizations of sustainability in carbon markets

DEFF Research Database (Denmark)

Karavai, Maryna; Hinostroza, Miriam L.

2013-01-01

This paper focuses on market responses to climate change, specifically a particular example of voluntary carbon market development, in sub-Saharan Africa, and seeks to identify the principles of sustainability that carbon markets draw upon. We explore how key discourses and their application...... in the context of the carbon market construct a vision of sustainability. We argue that the prevalence of neoliberal and technocratic ideas and values preferring weak ecological modernization, coupled with the contemporary climate regime, marginalize alternative perspectives on climate-constrained development......, thus weakening prospects of averting the dangerous impacts of a changing climate. The analysis is based on the evaluation of 78 projects in the voluntary market across supply chains in 23 countries in the region....

DEVELOPMENT TRENDS IN THE GLOBAL DENTAL MARKET

Directory of Open Access Journals (Sweden)

Veronica BULAT

2013-12-01

Full Text Available The paper analyses the key trends of the market, and segments the global dental equipment and consumables market by components and into various geographic regions in way of market size. It discusses the key market drivers, main players, restraints and opportunities of the global dental equipment and consumables market.

For a Global HTR Marketing Initiative

International Nuclear Information System (INIS)

Bredimas, Alexandre; Venneri, Francesco; Richards, Matthew

2014-01-01

HTRs are at a crossroads in their history. The technology is proven and the current technical developments relatively mastered but the marketing track record is disappointing. This paper comes to the conclusion that an international, collaborative marketing and communication plan must be implemented in order to address the marketing bottleneck of HTRs. The paper reflects about the HTR product specificities, its unique selling points and its positioning against other nuclear designs and gas cogeneration. It summarises the global market status and demonstrates that the global market for HTRs is there, for electricity generation, industrial cogeneration and polygeneration. The paper finally argues that HTR vendors have a shared interest to unite in order to succeed in activating the market demand for HTR, and suggests an action plan for an international collaboration among HTR vendors to market and communicate globally on HTRs and reach together a critical mass of business leads worldwide, a mutually beneficial outcome. (author)

TODAY THE GLOBAL LABOR MARKET

Directory of Open Access Journals (Sweden)

D. G. Shchipanova

2013-01-01

Full Text Available The international movement of labor, including temporary impacts on the socio-economic development of the donor and recipient countries the labor force. In this regard, it is relevant and legitimate problems of the evolution of the global labor market, the need to examine the issues of labor mobility, the problems of international labor migration and its impact on the national markets of skilled labor in the context of globalization. Distribution and use of human resources becomes cross-border nature, and so an international study of the labor market.

What about coal? Interactions between climate policies and the global steam coal market until 2030

International Nuclear Information System (INIS)

Haftendorn, C.; Kemfert, C.; Holz, F.

2012-01-01

Because of economic growth and a strong increase in global energy demand the demand for fossil fuels and therefore also greenhouse gas emissions are increasing, although climate policy should lead to the opposite effect. The coal market is of special relevance as coal is available in many countries and often the first choice to meet energy demand. In this paper we assess possible interactions between climate policies and the global steam coal market. Possible market adjustments between demand regions through market effects are investigated with a numerical model of the global steam coal market: the “COALMOD-World” model. This equilibrium model computes future trade flows, infrastructure investments and prices until 2030. We investigate three specific designs of climate policy: a unilateral European climate policy, an Indonesian export-limiting policy and a fast-roll out of carbon capture and storage (CCS) in the broader context of climate policy and market constraints. We find that market adjustment effects in the coal market can have significant positive and negative impacts on the effectiveness of climate policies. - Highlights: ► Interactions between climate policy and the global coal market until 2030 modeled. ► Analysis with the numerical model: “COALMOD-World”. ► Unilateral European climate policy partly compensated by market adjustment effects. ► A fast roll-out of CCS can lead to positive market adjustment effects. ► An export restricting supply-side policy generates virtuous market adjustments.

Global Derivatives Market

Directory of Open Access Journals (Sweden)

Stankovska Aleksandra

2017-06-01

Full Text Available Globalization of financial markets led to the enormous growth of volume and diversification of financial transactions. Financial derivatives were the basic elements of this growth. Derivatives play a useful and important role in hedging and risk management, but they also pose several dangers to the stability of financial markets and thereby the overall economy. Derivatives are used to hedge and speculate the risk associated with commerce and finance.

The globalization and Europeanization of mortgage markets

NARCIS (Netherlands)

Aalbers, M.B.

2009-01-01

Do globalization and Europeanization lead to the deterritorialization of European mortgage markets? Neither economic globalization nor EU policies have resulted in one European mortgage market. The various European mortgage markets are still quite different from one another in many respects. In most

Global capital markets: An updated profile

Directory of Open Access Journals (Sweden)

Filipović Miroslava

2007-01-01

Full Text Available More than two decades after the beginning of the financial revolution globalization of capital flows still attracts considerable attention, from both practitioners and academics. The aim of this paper is to contribute to understanding of some aspects of the global capital scene, as well as to emphasize certain developments which might illustrate its changing profile. Several fundamental perspectives profile the global capital market. A quantitative review provides a sense of sheer volumes, trends, origins and destinations of capital flows; an assessment of the global capital market’s degree of integration follows. The emergence of new (types of actors is another important aspect of the global processes, while illustrations of new market products and emerging segments may add new perspectives on the profile of the global capital market. Finally, the paper concludes with a brief overview of digitalization of the financial supply chain.

Carbon emission trading system of China: a linked market vs. separated markets

Science.gov (United States)

Liu, Yu; Feng, Shenghao; Cai, Songfeng; Zhang, Yaxiong; Zhou, Xiang; Chen, Yanbin; Chen, Zhanming

2013-12-01

The Chinese government intends to upgrade its current provincial carbon emission trading pilots to a nationwide scheme by 2015. This study investigates two of scenarios: separated provincial markets and a linked inter-provincial market. The carbon abatement effects of separated and linked markets are compared using two pilot provinces of Hubei and Guangdong based on a computable general equilibrium model termed Sino-TERMCo2. Simulation results show that the linked market can improve social welfare and reduce carbon emission intensity for the nation as well as for the Hubei-Guangdong bloc compared to the separated market. However, the combined system also distributes welfare more unevenly and thus increases social inequity. On the policy ground, the current results suggest that a well-constructed, nationwide carbon market complemented with adequate welfare transfer policies can be employed to replace the current top-down abatement target disaggregation practice.

First Nations carbon collaborative - indigenous peoples and carbon markets: an annotated bibliography

Energy Technology Data Exchange (ETDEWEB)

Dohan, Rosemary; Voora, Vivek [International Institute for Sustainable Development (Canada)

2010-11-15

According to the United Nations declaration on the rights of indigenous people, First Nations must be involved in the development of carbon markets which could affect their traditional and current land in Canada. The aim of this document is to provide First Nations with unbiased information on carbon markets so they can decide whether or not they want to take advantage of the economic opportunities that these markets offer. This annotated bibliography has been built using peer reviewed materials, working papers, government publications, technical reports, newspapers and online news websites. This paper provides the reader with information on the impacts that carbon markets could have on First Nations and is accessible to all with academic as well as popular resources. This bibliography highlighted that little information is available on First Nations in Canada and carbon markets and that this needs to be addressed so that indigenous people can participate actively in carbon markets.

A global predictive model of carbon in mangrove soils

Science.gov (United States)

Jardine, Sunny L.; Siikamäki, Juha V.

2014-10-01

Mangroves are among the most threatened and rapidly vanishing natural environments worldwide. They provide a wide range of ecosystem services and have recently become known for their exceptional capacity to store carbon. Research shows that mangrove conservation may be a low-cost means of reducing CO2 emissions. Accordingly, there is growing interest in developing market mechanisms to credit mangrove conservation projects for associated CO2 emissions reductions. These efforts depend on robust and readily applicable, but currently unavailable, localized estimates of soil carbon. Here, we use over 900 soil carbon measurements, collected in 28 countries by 61 independent studies, to develop a global predictive model for mangrove soil carbon. Using climatological and locational data as predictors, we explore several predictive modeling alternatives, including machine-learning methods. With our predictive model, we construct a global dataset of estimated soil carbon concentrations and stocks on a high-resolution grid (5 arc min). We estimate that the global mangrove soil carbon stock is 5.00 ± 0.94 Pg C (assuming a 1 meter soil depth) and find this stock is highly variable over space. The amount of carbon per hectare in the world’s most carbon-rich mangroves (approximately 703 ± 38 Mg C ha-1) is roughly a 2.6 ± 0.14 times the amount of carbon per hectare in the world’s most carbon-poor mangroves (approximately 272 ± 49 Mg C ha-1). Considerable within country variation in mangrove soil carbon also exists. In Indonesia, the country with the largest mangrove soil carbon stock, we estimate that the most carbon-rich mangroves contain 1.5 ± 0.12 times as much carbon per hectare as the most carbon-poor mangroves. Our results can aid in evaluating benefits from mangrove conservation and designing mangrove conservation policy. Additionally, the results can be used to project changes in mangrove soil carbon stocks based on changing climatological predictors, e.g. to

BELGRADE MARKET AS A PART OF THE GLOBAL FINANCIAL MARKET

Directory of Open Access Journals (Sweden)

Nataša Simić

2018-01-01

Full Text Available Belgrade market has been operating since 1989 under the name of Yugoslav capital market, which changed its name to Belgrade market in 1992. The purpose and the idea which governs our financial authorities and the market participants is a more active involvement of the market in the operations of the global financial market.

The Status Quo and Developing Trend Analysis of Global Carbon Finance

Institute of Scientific and Technical Information of China (English)

Liu Qian; Wang Yao

2011-01-01

This paper gives a systematic view of the new trends of global carbon finance innovation under the challenge of global climate change and in the process of transition to achieve economic growth from ＂high carbon＂ to ＇low carbon＇, covering the following aspects： the structure, status quo and developing trend of global carbon market. The paper discusses the innovation in financial organization and service systems and governments＇ overall guidance and policy support, and draws the conclusion that the world is undergoing massive changes with governments actively responding to carbon finance to embrace the tremendous opportunities for clean energy and climate change in financial industry. To seize the opportunity, a complete and overall carbon finance system of China should be put in the top of the agenda. Given the current tasks of energy conservation and pollution reduction and the growing demand for capital input, China needs to construct an clear of policy guidance, a diversified financia service system, and a multi-approach carbon finance system to intensify and widen the participation of financial industry, to expand financing channels for sustainable economy and spread risks, and finally, work out an inexpensive solution to the realization of China＇s low carbon target.

Global Standards of Market Civilization

DEFF Research Database (Denmark)

Global Standards of Market Civilization brings together leading scholars, representing a range of political views, to investigate how global 'standards of market civilization' have emerged, their justification, and their political, economic and social impact. Key chapters show how as the modern...... thought, as well as its historical application part II presents original case studies that demonstrate the emergence of such standards and explore the diffusion of liberal capitalist ideas through the global political economy and the consequences for development and governance; the International Monetary...... Fund's capacity to formulate a global standard of civilization in its reform programs; and problems in the development of the global trade, including the issue of intellectual property rights. This book will be of strong interest to students and scholars in wide range of fields relating to the study...

GLOBALIZATION IMPACT ON UKRAINIAN MARKET OF SHARES

Directory of Open Access Journals (Sweden)

O. Zotsenko

2013-05-01

Full Text Available The paper examines the impact of globalization on the Ukrainian market of shares. Main trends of globalization of world share market are analyzed. The study highlights key elements of the operating share markets of the world leading countries. The research investigates main factors that affect on the level of national market of shares. The findings trace out a number of problems that hinder and distort the role of the Ukrainian share market in capital allocation.

Are water markets globally applicable?

Science.gov (United States)

Endo, Takahiro; Kakinuma, Kaoru; Yoshikawa, Sayaka; Kanae, Shinjiro

2018-03-01

Water scarcity is a global concern that necessitates a global perspective, but it is also the product of multiple regional issues that require regional solutions. Water markets constitute a regionally applicable non-structural measure to counter water scarcity that has received the attention of academics and policy-makers, but there is no global view on their applicability. We present the global distribution of potential nations and states where water markets could be instituted in a legal sense, by investigating 296 water laws internationally, with special reference to a minimum set of key rules: legalization of water reallocation, the separation of water rights and landownership, and the modification of the cancellation rule for non-use. We also suggest two additional globally distributed prerequisites and policy implications: the predictability of the available water before irrigation periods and public control of groundwater pumping throughout its jurisdiction.

Governing the carbon offset market

OpenAIRE

Lovell, Heather C.

2010-01-01

Carbon offsets are produced and sold under the international climate change regime (the United Nations Kyoto Protocol) and also within an expanding voluntary offset market in which companies and individuals can voluntarily opt to compensate for their greenhouse gas emissions. The volume of carbon produced and consumed within compliance and voluntary markets has grown dramatically in the last 5 years, raising a number of governance challenges. This Focus Article gives an overview of the govern...

Tendances Carbone no. 74 'The Timing Impact Approach: How particularities of carbon markets influence market developments'

International Nuclear Information System (INIS)

Ruf, Philipp

2012-01-01

Among the publications of CDC Climat Research, 'Tendances Carbone' bulletin specifically studies the developments of the European market for CO 2 allowances. This issue addresses the following points: With the current 'back-loading' proposal of the European Commission on the table it is essential to further examine the specialities of carbon markets to assess the implications of the proposal on the market development of the EU ETS. An emission right is a new kind of good which can be thought of as a hybrid of a commodity good and a financial product

Factors affecting the carbon allowance market in the US

Energy Technology Data Exchange (ETDEWEB)

Kim, Hyun Seok; Koo, Won W. [Center for Agricultural Policy and Trade Studies, Department of Agribusiness and Applied Economics, North Dakota State University, Dept 7610, P.O. Box 6050, Fargo, ND 58103-6050 (United States)

2010-04-15

The US carbon allowance market has different characteristic and price determination process from the EU ETS market, since emitting installations voluntarily participate in emission trading scheme. This paper examines factors affecting the US carbon allowance market. An autoregressive distributed lag model is used to examine the short- and long-run relationships between the US carbon allowance market and its determinant factors. In the long-run, the price of coal is a main factor in the determination of carbon allowance trading. In the short-run, on the other hand, the changes in crude oil and natural gas prices as well as coal price have significant effects on carbon allowance market. (author)

Factors affecting the carbon allowance market in the US

International Nuclear Information System (INIS)

Kim, Hyun Seok; Koo, Won W.

2010-01-01

The US carbon allowance market has different characteristic and price determination process from the EU ETS market, since emitting installations voluntarily participate in emission trading scheme. This paper examines factors affecting the US carbon allowance market. An autoregressive distributed lag model is used to examine the short- and long-run relationships between the US carbon allowance market and its determinant factors. In the long-run, the price of coal is a main factor in the determination of carbon allowance trading. In the short-run, on the other hand, the changes in crude oil and natural gas prices as well as coal price have significant effects on carbon allowance market.

Price determinants of the European carbon market and interactions with energy markets

Energy Technology Data Exchange (ETDEWEB)

Schumacher, Katja; Cludius, Johanna; Matthes, Felix [Oeko Institut e.V., Berlin (Germany); Diekmann, Jochen; Zaklan, Aleksandar [Deutsches Institut fuer Wirtschaftsforschung, Berlin (Germany); Schleich, Joachim [Fraunhofer-Institut fuer Systemtechnik und Innovationsforschung (ISI), Karlsruhe (Germany)

2012-06-15

This report explores the determinants of short run price movements in the carbon market and their interaction with energy markets, in particular with the electricity market. Focusing on Phase 2 of the EU ETS we conduct econometric time series analysis based on continental EU and UK market data. Our findings suggest that market fundamentals have a dominant effect on the EUA price, but that non-fundamental factors may also play a role. We further found that the electricity price has a significant positive impact on the carbon price in the short run.

A global predictive model of carbon in mangrove soils

International Nuclear Information System (INIS)

Jardine, Sunny L; Siikamäki, Juha V

2014-01-01

Mangroves are among the most threatened and rapidly vanishing natural environments worldwide. They provide a wide range of ecosystem services and have recently become known for their exceptional capacity to store carbon. Research shows that mangrove conservation may be a low-cost means of reducing CO 2 emissions. Accordingly, there is growing interest in developing market mechanisms to credit mangrove conservation projects for associated CO 2 emissions reductions. These efforts depend on robust and readily applicable, but currently unavailable, localized estimates of soil carbon. Here, we use over 900 soil carbon measurements, collected in 28 countries by 61 independent studies, to develop a global predictive model for mangrove soil carbon. Using climatological and locational data as predictors, we explore several predictive modeling alternatives, including machine-learning methods. With our predictive model, we construct a global dataset of estimated soil carbon concentrations and stocks on a high-resolution grid (5 arc min). We estimate that the global mangrove soil carbon stock is 5.00 ± 0.94 Pg C (assuming a 1 meter soil depth) and find this stock is highly variable over space. The amount of carbon per hectare in the world’s most carbon-rich mangroves (approximately 703 ± 38 Mg C ha −1 ) is roughly a 2.6 ± 0.14 times the amount of carbon per hectare in the world’s most carbon-poor mangroves (approximately 272 ± 49 Mg C ha −1 ). Considerable within country variation in mangrove soil carbon also exists. In Indonesia, the country with the largest mangrove soil carbon stock, we estimate that the most carbon-rich mangroves contain 1.5 ± 0.12 times as much carbon per hectare as the most carbon-poor mangroves. Our results can aid in evaluating benefits from mangrove conservation and designing mangrove conservation policy. Additionally, the results can be used to project changes in mangrove soil carbon stocks based on changing climatological

Global PV Market Development

International Nuclear Information System (INIS)

Schmidt, F.

2009-01-01

The dawn of 2009 saw several events which caused major turbulence in the global photovoltaic industry. In 2008 the Spanish PV market grew beyond all expectations and even outranked Germany as the world's number one market. However, the promotion scheme was modified and a market cap was introduced in 2009, cutting back the maximum capacity to be installed to about the level of 2007. In addition, the industry is facing an oversupply of PV modules and a harsh recession which is significantly affecting the traditionally strong PV markets. International photovoltaic companies are challenged by a changing market situation: all of a sudden, competition has increased significantly, pushing the customer to the fore. As a result, a consolidation process is expected within the PV industry worldwide. However, the story is not all negative. In the U.S., the election of Barack Obama may be seen as the starting signal for a massive expansion in PV, likely to bring the country to first place globally within the next five years. Furthermore, different markets and market segments are being opened up - especially in Europe - thanks to the gradual arrival of generation parity and new PV support mechanisms. EuPD Research has observed and studied international PV markets since its foundation. The information included in the presentation is based on a wide range of quantitative and qualitative studies that EuPD Research has conducted in the key markets since 2002. Florian Schmidt, EuPD Research's Head of Product Management, will give an overview of the global PV market and how it is developing in this crucial year 2009. Aspects such as technology development, production capacities and the demand side will be included, with a special emphasis on the European PV markets. So far Chinese PV companies have often benefited from the booming PV markets in Europe, above all Germany and Spain. Due to the lack of domestic market, the Chinese industry strongly depends on the export and is

Regulatory Competition in Global Financial Markets

DEFF Research Database (Denmark)

Ringe, Georg

2015-01-01

competition are a reality in today’s global financial market, and the financial sector is different from their traditional fields of application: the ease of arbitrage, the fragility of banking and the risks involved are exceptional. Most importantly, regulatory arbitrage does not or only rarely occurs......The decades-long discussion on the merits of regulatory competition appears in a new light on the global financial market. There are a number of strategies that market participants use to avoid the reach of regulation, in particular by virtue of shifting trading abroad or else relocating activities...

Chancen und Gefahren von Global-Marketing-Konzepten

OpenAIRE

Berndt, Ulrike

1990-01-01

Chancen und Gefahren von Global-Marketing-Konzepten. - Augsburg : Förderges. Marketing, 1990. - 57, XII S. - Zugl: Augsburg, Univ., Diplomarb. - (Arbeitspapiere zur Schriftenreihe Schwerpunkt Marketing ; 29)

'Carbon-Money Exchange' to contain global warming and deforestation

International Nuclear Information System (INIS)

Nagase, Kozo

2005-01-01

This paper builds a basic theory of 'Carbon-Money Exchange' in which carbon as currency in nature's household (ecosystems) and money as currency in humankind's household (economy) are exchanged just like in a foreign exchange. The simple chemical equation below makes it possible (CO 2 →C+O 2 =C+O 2 →CO 2 ). The left-hand side represents the work of plants to remove atmospheric CO 2 . The right-hand side represents the work of humans as fossil fuel consumers to produce it. The exchange of the two currencies is possible by copying the fossil fuel market. The paper concludes that this new exchange can automatically contain global warming and deforestation, replacing onerous emissions trading. Moreover, it could revolutionize the conventional economy, creating counter-capitalism, or 'carbonism'

The challenge of market power under globalization

OpenAIRE

David Arie Mayer-Foulkes

2014-01-01

The legacy of Adam Smith leads to a false confidence on the optimality of laissez faire policies for the global market economy. Instead, the polarized character of current globalization deeply affects both developed and underdeveloped economies. Current globalization is characterized by factor exchange between economies of persistently unequal development. This implies the existence of persistent extraordinary market power in transnational corporations, reflected in their disproportionate par...

A Comparison of Global Financial Market Recovery after the 2008 Global Financial Crisis

Directory of Open Access Journals (Sweden)

Foo Jennifer

2017-06-01

Full Text Available The Financial Crisis of 2007-2009 plunged countries into a Great Recession and focused the world’s attention on the global stock markets. The global contagion has a major impact on global stock markets, with the U.S. DJIA falling to 6,547.05 on March 9, 2009 from a high of 14,164.53 on October 9, 2007, with a loss of more than 54%. Other stock markets also had a precipitous drop during the financial crisis. However, some equity markets have recovered while others have not. This paper looks at how global markets compared in their recovery. This paper also investigates the advanced countries’ recovery relative to the emerging and developing countries in the aftermath of the financial crisis and their ability to climb back to the pre-financial crisis levels. Analysis is provided for 31 stock indexes from January 2005 to March 2013. In 2013 the majority of analysed stock markets recovered from the crises regardless of if they belong to the group of developed or emerging markets.

Complexity Analysis of Carbon Market Using the Modified Multi-Scale Entropy

Directory of Open Access Journals (Sweden)

Jiuli Yin

2018-06-01

Full Text Available Carbon markets provide a market-based way to reduce climate pollution. Subject to general market regulations, the major existing emission trading markets present complex characteristics. This paper analyzes the complexity of carbon market by using the multi-scale entropy. Pilot carbon markets in China are taken as the example. Moving average is adopted to extract the scales due to the short length of the data set. Results show a low-level complexity inferring that China’s pilot carbon markets are quite immature in lack of market efficiency. However, the complexity varies in different time scales. China’s carbon markets (except for the Chongqing pilot are more complex in the short period than in the long term. Furthermore, complexity level in most pilot markets increases as the markets developed, showing an improvement in market efficiency. All these results demonstrate that an effective carbon market is required for the full function of emission trading.

What You Should Know About Carbon Markets

Directory of Open Access Journals (Sweden)

Maria Mansanet-Bataller

2008-12-01

Full Text Available Since the entry into force of the Kyoto Protocol, carbon trading has been in continuous expansion. In this paper, we review the origins of carbon trading in order to understand how carbon trading works in Europe and, specifically, the functioning of the European Union Emission Trading Scheme (EU ETS and the workings of several spot, futures and options markets where European Union Allowances are traded. As well, the linking of the EU ETS with the other United Nations carbon markets is also studied.

The global warming, public goods and carbon market; Calentamiento global, bienes publicos y mercado de carbono

Energy Technology Data Exchange (ETDEWEB)

Quadri de la Torre, Gabriel [EcoSecurities (Mexico)

2007-07-15

The global warming is an issue of the public goods, and demands an outstanding multilateral action, which must to ensure both efficiency and unchanging transition towards an economy of low intensity of carbon. The new system, which is going to replace the Kyoto Protocol, will have compromises for the developing countries and deep implication in the relative competitivity of the nations and companies. [Spanish] El calentamiento global es un problema de bienes publicos que exige una extraordinaria accion multilateral. Esta debe asegurar eficiencia y una transicion fluida hacia una economia de baja intensidad de carbono. El nuevo sistema que sucedera al Protocolo de Kyoto significara compromisos para los paises en vias de desarrollo, y tendra profundas implicaciones en la competitividad relativa de naciones y empresas.

The carbon footprint of global tourism

Science.gov (United States)

Lenzen, Manfred; Sun, Ya-Yen; Faturay, Futu; Ting, Yuan-Peng; Geschke, Arne; Malik, Arunima

2018-06-01

Tourism contributes significantly to global gross domestic product, and is forecast to grow at an annual 4%, thus outpacing many other economic sectors. However, global carbon emissions related to tourism are currently not well quantified. Here, we quantify tourism-related global carbon flows between 160 countries, and their carbon footprints under origin and destination accounting perspectives. We find that, between 2009 and 2013, tourism's global carbon footprint has increased from 3.9 to 4.5 GtCO2e, four times more than previously estimated, accounting for about 8% of global greenhouse gas emissions. Transport, shopping and food are significant contributors. The majority of this footprint is exerted by and in high-income countries. The rapid increase in tourism demand is effectively outstripping the decarbonization of tourism-related technology. We project that, due to its high carbon intensity and continuing growth, tourism will constitute a growing part of the world's greenhouse gas emissions.

Romanian Insurance Market Facing Globalization Process

Directory of Open Access Journals (Sweden)

Dumitru G. Badea

2008-09-01

Full Text Available The Romanian insurance market has passed through a permanent process of growth which ended up in 2004 to exceed the threshold of 1 billion Euros, in the frame of a small awareness and confidence of the population towards insurance, even now after 15 years. The globalization process of the financial markets affected also the Romanian market even before Romania became member of the European Union. The globalization brought about benefits (especially under the form of increase in the quality of the services provided to clients but also disadvantages for local companies (significant costs in logistics and training in order to cope with the international groups.

Market-based carbon abatement policies: the case of coal subsidy phase-out

International Nuclear Information System (INIS)

Okogu, B.E.; Birol, F.

1993-01-01

The issue of coal subsidies in industrialized countries is explored and basic econometric techniques are used to quantify the impact on carbon emissions of phasing out such subsidies. Components with other measures for reducing global carbon emissions, such as a carbon or energy tax, deregulation of the coal market has at least equal merit in terms of cost, and it is certainly cheaper than engineering-based approaches, moreover, a policy of coal-subsidy phase-out will have a positive impact on the drive for a cleaner global environment and regional problems, such as acid rain. Coal mining is also an important source of the second major greenhouse gas, methane. Yet coal is the least taxed of all fossil fuels and enjoys significant subsidies in a number of industrialized countries. This raised serious doubts about the real intentions of the proposed new energy and environmental taxes in Europe and North America. (3 figures, 3 tables) (UK)

Neoliberal Optimism: Applying Market Techniques to Global Health.

Science.gov (United States)

Mei, Yuyang

2017-01-01

Global health and neoliberalism are becoming increasingly intertwined as organizations utilize markets and profit motives to solve the traditional problems of poverty and population health. I use field work conducted over 14 months in a global health technology company to explore how the promise of neoliberalism re-envisions humanitarian efforts. In this company's vaccine refrigerator project, staff members expect their investors and their market to allow them to achieve scale and develop accountability to their users in developing countries. However, the translation of neoliberal techniques to the global health sphere falls short of the ideal, as profits are meager and purchasing power remains with donor organizations. The continued optimism in market principles amidst such a non-ideal market reveals the tenacious ideological commitment to neoliberalism in these global health projects.

Regulatory Competition in Global Financial Markets

DEFF Research Database (Denmark)

Ringe, Georg

2016-01-01

Regulatory arbitrage in financial markets refers to a number of strategies that market participants use to avoid the reach of regulation, in particular by virtue of moving trading abroad or relocating activities or operations of financial institutions to other jurisdictions. Where this happens...... institutions' excessive risk-taking. If such risk-taking would be judged by market discipline instead of posing a risk to global financial stability, the main downside of regulatory competition could be restrained. Within the boundaries of such a system, competition could then operate and contribute...... their standards solely to attract business and thereby impose externalities on the worldwide financial market by undermining financial stability as a global public good. Policymakers worldwide are experimenting with remedies to respond to the phenomenon. I introduce the importance of an effective special...

Carbon market emerges

International Nuclear Information System (INIS)

Hordern, N.

2001-01-01

Last November COP6, the UN climate change conference in The Hague, failed to agree on the rules of the Kyoto Protocol, the treaty limiting developed countries' emissions of greenhouse gases ('carbon'). Many in the Australian resource and energy sector were relieved that COP6 was inconclusive. As Industry Minister Senator Nick Minchin put it: 'Better no outcome than a bad outcome.' However, the financial services sector -potentially a major beneficiary of the international carbon it hoped COP6 would endorse -received a setback. Apparently not for long. Only months later, a nascent Australian carbon trading market seems to be emerging by stealth, irrespective of COP6's fortunes. This poses both opportunities and costs for the resources and energy sectors. Whoever succeeds in influencing the design of a trading scheme, 'pilot' or not, will have a box seat when - not if - a 'mandatory' emissions trading scheme is introduced. Government policy is that there will be no mandatory emissions trading scheme until the establishment of a UN endorsed international market requires one of Australia. This, in turn, depends upon the conclusion of the negotiations that stalled in The Hague. COP6 is set to resume in Germany, probably in July

Climate - These carbon markets which seduce industries

International Nuclear Information System (INIS)

Chandes, C.

2011-01-01

As many countries try to give a price to their carbon emissions, beyond the constraint carbon emissions represent, European industries consider these future carbon markets as financial opportunities. Some countries are inspired by the European trading system, and European industries think they will value their experience with this system on these new markets, notably by selling their consultancy expertise, and also because the factories they possess in these countries, China for example, already comply with European standards

Retailers’ competitiveness on global markets

Directory of Open Access Journals (Sweden)

Grażyna Śmigielska

2017-02-01

Full Text Available The aim of the chapter is to show that now retail trade is a global sector but because of its specificity new strategies are necessary if global retailers want to sustain their advantage. The  concept of globalization is discussed and then referenced to the retail sector.  The process of retail internationalization which resulted in the globalization of retail sector is analyzed.  It is assumed that the retailers were motivated by the goal of sustaining their competitive advantage. So some ideas of the main theoretical views of developing sustainable competitive advantage (SCA: Environmental View and Resource Based View, referring to the process of internationalization as well as Yip’s description of globalization process are presented. On the examples of some companies, leading the process of retail fast internationalization in XX century, like Ikea, Benetton, Carrefour, Wal-Mart, it is shown how the resources they developed and external environment contributed to their globalization process. It is found out that there were two stages of the globalization of retail sector: first, in which non food companies develop on international market and second, when the mass merchandisers offering food and other Fast Moving Consumer Goods (FMCG were involved. The fact that after fast internationalization representatives of both groups face problems leads to the conclusion that to be successful in the contemporary global retail market new capabilities should be developed.

ABB and the global market

International Nuclear Information System (INIS)

Lindahl, G.

1994-01-01

Competing in a global environment implies that the authors previous business environment has been less than global, and there are indeed changes underway that lead to a more universal environment. But, there are still differences between regions and especially between the mature economies in the OECD countries and the rapidly developing countries, of which a majority are in Asia. For the OECD countries, the time after World War 2 and up to about 1970 was a period of unprecedented growth. Rebuilding after the war and a general growth of the use of electric power required high investments in power systems and caused a booming market for equipment suppliers. After a trend break in the beginning of the 1970s to less than 40 GW 10 years later, then slowly increased to about 50 GW today. At the same time, annual capacity growth in developing countries increased from less than 20 GW to about 50 GW, i.e. the same level as in OECD. This means that ABB is now passing a cross-over point: from now on less than half of their global market is in their well-known OECD world. And this share will continue to shrink. ABB is now restructuring to fulfill market needs in less developed, developing, and newly industrialized countries. This is the most important change in their global environment is addressed in this article

From Kyoto to Copenhagen: the carbon markets expansion

International Nuclear Information System (INIS)

Alberola, Emilie; Fages, Emmanuel

2009-01-01

The article examines the development of carbon markets in the world. Such markets are the main economic instrument of the international climate policy established by the Kyoto Protocol in 1997 and are being implemented by most industrialized countries. They are experimented by Europe since 2005 for industrial facilities and since 2008 by industrialized countries under Kyoto. The development of carbon markets will likely continue beyond 2012, when the Kyoto Protocol expires. Their expansion will be largely determined by the future international climate policy to be negotiated in Copenhagen in December 2009 and by the commitment of the largest economies like the United States. The authors describe the emergence of carbon markets, their basic principles and the experience of Kyoto and European markets. Then, they deal with the expected developments beyond 2012

Marketing Management: Monitoring the International Environment Factors Using Global Maps

Directory of Open Access Journals (Sweden)

Štěpán Kala

2015-01-01

Full Text Available The article discusses the issue of the global marketing environment in line with the factors determining its external conditions. The aim is to specify the marketing-environment indicators in the international context and interpret the use of geographical maps illustratively documenting the differences of particular parameters in various parts of the global market. The research-results help update the theoretical framework of global environment factors. These data are also important for practice. Many enterprises consider the question of optimising their sources and directing their goals towards the opportunities available thanks to global markets. The global environment mapping is thereby an important basis for the marketing activities whose implementation across national boundaries is going to be mainly influenced by peculiarities of the environment involving foreign markets and their changes.

Ecommerce drivers and marketing partnerships in successful export marketing of Finnish born globals

OpenAIRE

Penttinen, Jukka

2015-01-01

This study examines the utilization of ecommerce and marketing partnerships as part of born global internationalization strategies. The study will combine the existing literature of born global internationalization, export marketing strategies and ecommerce as part of internationalization to form an understanding on how two Finnish health and welfare sector born globals internationalize, and how ecommerce drivers affect their internationalization. Because of the explorative nature of the stud...

Pathways for implementing REDD+. Experiences from carbon markets and communities

Energy Technology Data Exchange (ETDEWEB)

Zhu, X; Ravnkilde Moeller, L; Lopez, T De; Romero, M Z

2011-07-01

This issue of Carbon Market Perspectives on 'Pathways for implementing REDD+: Experience from carbon markets and communities' discusses the role of carbon markets in scaling up investments for REDD+ in developing countries. Nine articles authored by experienced negotiators on REDD+, carbon market actors, project developers and other leading experts share experiences and make suggestions on the key elements of a future international REDD+ regime: Architecture and underlying principles, measuring, reporting and verification (MRV), private-sector involvement, the rights of indigenous people and local communities, biodiversity conservation and environmental integrity. The articles are grouped under three main topics: the lessons of existing REDD+ projects; the future REDD+ regime and the role of carbon markets; and experiences and ideas about the involvement of indigenous people and local communities. (LN)

77 FR 35944 - Renewal of the Global Markets Advisory Committee

Science.gov (United States)

2012-06-15

... international standards for regulating futures, swaps, options, and derivatives markets, as well as..., competitive, and financially sound futures and options markets. Meetings of the Global Markets Advisory... COMMODITY FUTURES TRADING COMMISSION Renewal of the Global Markets Advisory Committee AGENCY...

Alaska gas pipeline and the global natural gas market

International Nuclear Information System (INIS)

Slutz, J.

2006-01-01

The global natural gas market was discussed in relation to the Alaska natural gas pipeline project. Natural gas supply forecasts to the year 2025 were presented. Details of the global liquefied natural gas (LNG) market were discussed. Charts were included for United States natural gas production, consumption, and net imports up to the year 2030. The impact of high natural gas prices on the manufacturing sector and the chemicals industry, agricultural, and ethanol industries were discussed. Natural gas costs around the world were also reviewed. The LNG global market was discussed. A chart of world gas reserves was presented, and global LNG facilities were outlined. Issues related to the globalization of the natural gas trade were discussed. Natural gas imports and exports in the global natural gas market were reviewed. A chart of historical annual United States annual LNG imports was presented. tabs., figs

When do increasing carbon taxes accelerate global warming? A note on the green paradox

Energy Technology Data Exchange (ETDEWEB)

Edenhofer, Ottmar [Potsdam Institute for Climate Impact Research, PO Box 601203, 14412 Potsdam (Germany); Technische Universitaet Berlin, Strasse des 17. Juni 135, 10623 Berlin (Germany); Kalkuhl, Matthias, E-mail: kalkuhl@pik-potsdam.d [Potsdam Institute for Climate Impact Research, PO Box 601203, 14412 Potsdam (Germany)

2011-04-15

The 'green paradox' by Hans-Werner Sinn suggests that increasing resource taxes accelerate global warming because resource owners increase near-term extraction in fear of higher future taxation. In this note we show that this effect does only occur for the specific set of carbon taxes that increase at a rate higher than the effective discount rate of the resource owners. We calculate a critical initial value for the carbon tax that leads to a decreased cumulative consumption over the entire (infinite) time horizon. Applying our formal findings to carbon taxes for several mitigation targets, we conclude that there is a low risk of a green paradox in case the regulator implements and commits to a permanently mal-adjusted tax. This remaining risk can be avoided by emissions trading scheme as suggested by Sinn-as long as the emission caps are set appropriately and the intertemporal permit market works correctly. - Research highlights: {yields} Fast increasing carbon taxes accelerate global warming if they start at a low level. {yields} Appropriately high carbon taxes can always reduce cumulative emissions. {yields} Many existing tax proposals are unlikely to accelerate global warming. {yields} Capital income taxes cannot reduce cumulative emissions.

When do increasing carbon taxes accelerate global warming? A note on the green paradox

International Nuclear Information System (INIS)

Edenhofer, Ottmar; Kalkuhl, Matthias

2011-01-01

The 'green paradox' by Hans-Werner Sinn suggests that increasing resource taxes accelerate global warming because resource owners increase near-term extraction in fear of higher future taxation. In this note we show that this effect does only occur for the specific set of carbon taxes that increase at a rate higher than the effective discount rate of the resource owners. We calculate a critical initial value for the carbon tax that leads to a decreased cumulative consumption over the entire (infinite) time horizon. Applying our formal findings to carbon taxes for several mitigation targets, we conclude that there is a low risk of a green paradox in case the regulator implements and commits to a permanently mal-adjusted tax. This remaining risk can be avoided by emissions trading scheme as suggested by Sinn-as long as the emission caps are set appropriately and the intertemporal permit market works correctly. - Research highlights: → Fast increasing carbon taxes accelerate global warming if they start at a low level. → Appropriately high carbon taxes can always reduce cumulative emissions. → Many existing tax proposals are unlikely to accelerate global warming. → Capital income taxes cannot reduce cumulative emissions.

75 FR 33788 - Renewal of the Global Markets Advisory Committee

Science.gov (United States)

2010-06-15

... appropriate international standards for regulating futures and derivatives markets, as well as intermediaries... financially sound futures and options markets. Meetings of the Global Markets Advisory Committee are open to... COMMODITY FUTURES TRADING COMMISSION Renewal of the Global Markets Advisory Committee AGENCY...

Global carbon budget 2013

International Nuclear Information System (INIS)

Le Quere, C.; Moriarty, R.; Jones, S.D.; Boden, T.A.; Peters, G.P.; Andrew, R.M.; Andres, R.J.; Ciais, P.; Bopp, L.; Maignan, F.; Viovy, N.

2014-01-01

Accurate assessment of anthropogenic carbon dioxide (CO 2 ) emissions and their redistribution among the atmosphere, ocean, and terrestrial biosphere is important to better understand the global carbon cycle, support the development of climate policies, and project future climate change. Here we describe data sets and a methodology to quantify all major components of the global carbon budget, including their uncertainties, based on the combination of a range of data, algorithms, statistics and model estimates and their interpretation by a broad scientific community. We discuss changes compared to previous estimates, consistency within and among components, alongside methodology and data limitations. CO 2 emissions from fossil-fuel combustion and cement production (EFF) are based on energy statistics, while emissions from land-use change (ELUC), mainly deforestation, are based on combined evidence from land-cover change data, fire activity associated with deforestation, and models. The global atmospheric CO 2 concentration is measured directly and its rate of growth (GATM) is computed from the annual changes in concentration. The mean ocean CO 2 sink (SOCEAN) is based on observations from the 1990's, while the annual anomalies and trends are estimated with ocean models. The variability in SOCEAN is evaluated for the first time in this budget with data products based on surveys of ocean CO 2 measurements. The global residual terrestrial CO 2 sink (SLAND) is estimated by the difference of the other terms of the global carbon budget and compared to results of independent dynamic global vegetation models forced by observed climate, CO 2 and land cover change (some including nitrogen-carbon interactions). All uncertainties are reported as ±1, reflecting the current capacity to characterise the annual estimates of each component of the global carbon budget. For the last decade available (2003-2012), EFF was 8.6±0.4 GtC yr -1 , ELUC 0.9±0.5 GtC yr -1 , GATM 4.3±0

The Resistance of national cultures to global marketing influence

OpenAIRE

Pikturnienė, Indrė

2005-01-01

Due to Increased regional integration, countries, which were previously closed to the world, became exposed to universal or partly adapted marketing mixes. A discussion whether global marketing campaigns can influence national cultures, and serve as a drive for emergence of global culture is developed in the article. The paper demonstrates that the conclusion, whether global marketing campaigns can generate globalisation of culture, depends on the definition of culture, which can overwhelm ei...

Pathways for implementing REDD+. Experiences from carbon markets and communities

Energy Technology Data Exchange (ETDEWEB)

Zhu, X.; Ravnkilde Moeller, L.; Lopez, T. De; Romero, M.Z.

2011-07-01

This issue of Carbon Market Perspectives on 'Pathways for implementing REDD+: Experience from carbon markets and communities' discusses the role of carbon markets in scaling up investments for REDD+ in developing countries. Nine articles authored by experienced negotiators on REDD+, carbon market actors, project developers and other leading experts share experiences and make suggestions on the key elements of a future international REDD+ regime: Architecture and underlying principles, measuring, reporting and verification (MRV), private-sector involvement, the rights of indigenous people and local communities, biodiversity conservation and environmental integrity. The articles are grouped under three main topics: the lessons of existing REDD+ projects; the future REDD+ regime and the role of carbon markets; and experiences and ideas about the involvement of indigenous people and local communities. (LN)

Policy interactions, risk and price formation in carbon markets

International Nuclear Information System (INIS)

Blyth, William; Bunn, Derek; Kettunen, Janne; Wilson, Tom

2009-01-01

Carbon pricing is an important mechanism for providing companies with incentives to invest in carbon abatement. Price formation in carbon markets involves a complex interplay between policy targets, dynamic technology costs, and market rules. Carbon pricing may under-deliver investment due to R and D externalities, requiring additional policies which themselves affect market prices. Also, abatement costs depend on the extent of technology deployment due to learning-by-doing. This paper introduces an analytical framework based on marginal abatement cost (MAC) curves with the aim of providing an intuitive understanding of the key dynamics and risk factors in carbon markets. The framework extends the usual static MAC representation of the market to incorporate policy interactions and some technology cost dynamics. The analysis indicates that supporting large-scale deployment of mature abatement technologies suppresses the marginal cost of abatement, sometimes to zero, whilst increasing total abatement costs. However, support for early stage R and D may reduce both total abatement cost and carbon price risk. An important aspect of the analysis is in elevating risk management considerations into energy policy formation, as the results of the stochastic modelling indicate wide distributions for the emergence of carbon prices and public costs around the policy expectations. (author)

Tendances Carbone no. 92. Carbon markets and the post-2020 Agreement

International Nuclear Information System (INIS)

Marcu, Andrei

2014-06-01

Among the publications of CDC Climat Research, 'Tendances Carbone' bulletin specifically studies the developments of the European market for CO 2 allowances. Beside some statistical figures about energy production/consumption and carbon markets, this issue specifically addresses the following points: - EU ETS reforms: on 25 June, the EU Commission will host a panel of experts to discuss technical aspects of the proposal of the Market Stability Reserve. - Market Stability Reserve of the EU ETS: Germany supports the Commission proposal of a market stability reserve and calls for a launch of the mechanism significantly before 2020, i.e. already in 2017. - 2030 energy and climate package: on 26 and 27 June, the EU Council will discuss the target of CO 2 emissions reduction of 40% by 2030 to take a final decision as soon as possible and later in October 2014

Effectiveness and legitimacy of forest carbon standards in the OTC voluntary carbon market

Science.gov (United States)

2011-01-01

Background In recent years, the voluntary over-the-counter (OTC) carbon market has reached a significant market volume. It is particularly interesting for forest mitigation projects which are either ineligible in compliance markets or confronted with a plethora of technical and financial hurdles and lacking market demand. As the OTC market is not regulated, voluntary standards have been created to secure the social and environmental integrity of the traded mitigation projects and thus to ensure the quality of the resulting carbon credits. Building on a theoretical efficiency-legitimacy framework, this study aims to identify and analyse the characteristics and indicators that determine the efficiency and organisational legitimacy of standards for afforestation/reforestation carbon projects. Results All interviewed market actors consider third-party certification and standards as a crucial component of market functionality, which provide quality assurance mechanisms that reduce information asymmetries and moral hazard between the actors regarding the quality of carbon credits, and thus reduce transaction costs. Despite this development, the recent evolution of many new and differing standards is seen as a major obstacle that renders it difficult for project developers and buyers to select an appropriate standard. According to the interviewed experts the most important legitimating factors of standards are assurance of a sufficient level of quality of carbon credits, scientifically substantiated methodological accounting and independent third-party verification, independence of standard bodies, transparency, wide market acceptance, back-up of the wider community including experts and NGOs, rigorous procedures, and the resemblance to the Afforestation/Reforestation (A/R) CDM due to its international policy endorsements. In addition, standards must provide evidence that projects contribute to a positive social and environmental development, do no harm as a minimum

Effectiveness and legitimacy of forest carbon standards in the OTC voluntary carbon market

Directory of Open Access Journals (Sweden)

Merger Eduard

2011-08-01

Full Text Available Abstract Background In recent years, the voluntary over-the-counter (OTC carbon market has reached a significant market volume. It is particularly interesting for forest mitigation projects which are either ineligible in compliance markets or confronted with a plethora of technical and financial hurdles and lacking market demand. As the OTC market is not regulated, voluntary standards have been created to secure the social and environmental integrity of the traded mitigation projects and thus to ensure the quality of the resulting carbon credits. Building on a theoretical efficiency-legitimacy framework, this study aims to identify and analyse the characteristics and indicators that determine the efficiency and organisational legitimacy of standards for afforestation/reforestation carbon projects. Results All interviewed market actors consider third-party certification and standards as a crucial component of market functionality, which provide quality assurance mechanisms that reduce information asymmetries and moral hazard between the actors regarding the quality of carbon credits, and thus reduce transaction costs. Despite this development, the recent evolution of many new and differing standards is seen as a major obstacle that renders it difficult for project developers and buyers to select an appropriate standard. According to the interviewed experts the most important legitimating factors of standards are assurance of a sufficient level of quality of carbon credits, scientifically substantiated methodological accounting and independent third-party verification, independence of standard bodies, transparency, wide market acceptance, back-up of the wider community including experts and NGOs, rigorous procedures, and the resemblance to the Afforestation/Reforestation (A/R CDM due to its international policy endorsements. In addition, standards must provide evidence that projects contribute to a positive social and environmental development, do

Effectiveness and legitimacy of forest carbon standards in the OTC voluntary carbon market.

Science.gov (United States)

Merger, Eduard; Pistorius, Till

2011-08-17

In recent years, the voluntary over-the-counter (OTC) carbon market has reached a significant market volume. It is particularly interesting for forest mitigation projects which are either ineligible in compliance markets or confronted with a plethora of technical and financial hurdles and lacking market demand. As the OTC market is not regulated, voluntary standards have been created to secure the social and environmental integrity of the traded mitigation projects and thus to ensure the quality of the resulting carbon credits. Building on a theoretical efficiency-legitimacy framework, this study aims to identify and analyse the characteristics and indicators that determine the efficiency and organisational legitimacy of standards for afforestation/reforestation carbon projects. All interviewed market actors consider third-party certification and standards as a crucial component of market functionality, which provide quality assurance mechanisms that reduce information asymmetries and moral hazard between the actors regarding the quality of carbon credits, and thus reduce transaction costs. Despite this development, the recent evolution of many new and differing standards is seen as a major obstacle that renders it difficult for project developers and buyers to select an appropriate standard. According to the interviewed experts the most important legitimating factors of standards are assurance of a sufficient level of quality of carbon credits, scientifically substantiated methodological accounting and independent third-party verification, independence of standard bodies, transparency, wide market acceptance, back-up of the wider community including experts and NGOs, rigorous procedures, and the resemblance to the Afforestation/Reforestation (A/R) CDM due to its international policy endorsements. In addition, standards must provide evidence that projects contribute to a positive social and environmental development, do no harm as a minimum requirement and build a

Estimating global "blue carbon" emissions from conversion and degradation of vegetated coastal ecosystems.

Directory of Open Access Journals (Sweden)

Linwood Pendleton

Full Text Available Recent attention has focused on the high rates of annual carbon sequestration in vegetated coastal ecosystems--marshes, mangroves, and seagrasses--that may be lost with habitat destruction ('conversion'. Relatively unappreciated, however, is that conversion of these coastal ecosystems also impacts very large pools of previously-sequestered carbon. Residing mostly in sediments, this 'blue carbon' can be released to the atmosphere when these ecosystems are converted or degraded. Here we provide the first global estimates of this impact and evaluate its economic implications. Combining the best available data on global area, land-use conversion rates, and near-surface carbon stocks in each of the three ecosystems, using an uncertainty-propagation approach, we estimate that 0.15-1.02 Pg (billion tons of carbon dioxide are being released annually, several times higher than previous estimates that account only for lost sequestration. These emissions are equivalent to 3-19% of those from deforestation globally, and result in economic damages of $US 6-42 billion annually. The largest sources of uncertainty in these estimates stems from limited certitude in global area and rates of land-use conversion, but research is also needed on the fates of ecosystem carbon upon conversion. Currently, carbon emissions from the conversion of vegetated coastal ecosystems are not included in emissions accounting or carbon market protocols, but this analysis suggests they may be disproportionally important to both. Although the relevant science supporting these initial estimates will need to be refined in coming years, it is clear that policies encouraging the sustainable management of coastal ecosystems could significantly reduce carbon emissions from the land-use sector, in addition to sustaining the well-recognized ecosystem services of coastal habitats.

BALTIC CONTAINER SHIPPING MARKET GOES GLOBAL

Directory of Open Access Journals (Sweden)

Ernest Czermański

2016-03-01

Full Text Available This paper aims at summarizing the last period of the Baltic container shipping mar-ket’s development, especially after 2000. The author, taking especially into account changes that have occurred in 2010, ultimately demonstrate that through the analyzed changes, this market has become a global one - thus being shaped by global determinants influencing its further development. Author selected and analyzed some chosen, most important factors influencing future market development. Secondly, some chances and threats resulting from the described changes were presented, either for the entire market as a base for international trade of Baltic Sea Region countries, and for its actors, mainly shipping owners and operators acting as a supply side of the Baltic container market. Finally, author has tried to verify and questioned the doubts and strong concerns about the future of the Baltic container shipping, especially about the feeder services, as because there are real indications and arguments against these concern.

The market effectiveness of electricity reform: A case of carbon emissions trading market of Shenzhen city

Science.gov (United States)

Wang, Yongli; Wang, Gang; Zuo, Yi; Fan, Lisha; Xiao, Yao

2017-03-01

In the 13th Five-Year Plan, the Chinese government proposed to achieve the national carbon emission trading market established by 2017. The establishment of carbon emission trading market is the most important one in power reform, which helps to promote the power reform and achieve the goal of energy saving and emission reduction. As the bond of connecting environment energy issues and the economic development, carbon emissions trading market has become a hot research topic in the related fields, by market means, it incentive the lower cost subject emissions to undertake more reductions and therefore to benefit, the body of the high cost finished the task by buying quota reduction, to achieve the effect of having the least social total cost. Shenzhen has become the first city in China to start carbon trading pilot formally on June 16, 2013, online trading on June 18. The paper analyzes the market effectiveness of electricity reform in China, which takes carbon emissions trading market of Shenzhen city for example, and gives some suggestions for future development.

Africa and the global carbon cycle

Directory of Open Access Journals (Sweden)

Denning A Scott

2007-03-01

Full Text Available Abstract The African continent has a large and growing role in the global carbon cycle, with potentially important climate change implications. However, the sparse observation network in and around the African continent means that Africa is one of the weakest links in our understanding of the global carbon cycle. Here, we combine data from regional and global inventories as well as forward and inverse model analyses to appraise what is known about Africa's continental-scale carbon dynamics. With low fossil emissions and productivity that largely compensates respiration, land conversion is Africa's primary net carbon release, much of it through burning of forests. Savanna fire emissions, though large, represent a short-term source that is offset by ensuing regrowth. While current data suggest a near zero decadal-scale carbon balance, interannual climate fluctuations (especially drought induce sizeable variability in net ecosystem productivity and savanna fire emissions such that Africa is a major source of interannual variability in global atmospheric CO2. Considering the continent's sizeable carbon stocks, their seemingly high vulnerability to anticipated climate and land use change, as well as growing populations and industrialization, Africa's carbon emissions and their interannual variability are likely to undergo substantial increases through the 21st century.

Global Carbon Budget 2015

Science.gov (United States)

Le Quéré, C.; Moriarty, R.; Andrew, R. M.; Canadell, J. G.; Sitch, S.; Korsbakken, J. I.; Friedlingstein, P.; Peters, G. P.; Andres, R. J.; Boden, T. A.; Houghton, R. A.; House, J. I.; Keeling, R. F.; Tans, P.; Arneth, A.; Bakker, D. C. E.; Barbero, L.; Bopp, L.; Chang, J.; Chevallier, F.; Chini, L. P.; Ciais, P.; Fader, M.; Feely, R. A.; Gkritzalis, T.; Harris, I.; Hauck, J.; Ilyina, T.; Jain, A. K.; Kato, E.; Kitidis, V.; Klein Goldewijk, K.; Koven, C.; Landschützer, P.; Lauvset, S. K.; Lefèvre, N.; Lenton, A.; Lima, I. D.; Metzl, N.; Millero, F.; Munro, D. R.; Murata, A.; Nabel, J. E. M. S.; Nakaoka, S.; Nojiri, Y.; O'Brien, K.; Olsen, A.; Ono, T.; Pérez, F. F.; Pfeil, B.; Pierrot, D.; Poulter, B.; Rehder, G.; Rödenbeck, C.; Saito, S.; Schuster, U.; Schwinger, J.; Séférian, R.; Steinhoff, T.; Stocker, B. D.; Sutton, A. J.; Takahashi, T.; Tilbrook, B.; van der Laan-Luijkx, I. T.; van der Werf, G. R.; van Heuven, S.; Vandemark, D.; Viovy, N.; Wiltshire, A.; Zaehle, S.; Zeng, N.

2015-12-01

Accurate assessment of anthropogenic carbon dioxide (CO2) emissions and their redistribution among the atmosphere, ocean, and terrestrial biosphere is important to better understand the global carbon cycle, support the development of climate policies, and project future climate change. Here we describe data sets and a methodology to quantify all major components of the global carbon budget, including their uncertainties, based on the combination of a range of data, algorithms, statistics, and model estimates and their interpretation by a broad scientific community. We discuss changes compared to previous estimates as well as consistency within and among components, alongside methodology and data limitations. CO2 emissions from fossil fuels and industry (EFF) are based on energy statistics and cement production data, while emissions from land-use change (ELUC), mainly deforestation, are based on combined evidence from land-cover-change data, fire activity associated with deforestation, and models. The global atmospheric CO2 concentration is measured directly and its rate of growth (GATM) is computed from the annual changes in concentration. The mean ocean CO2 sink (SOCEAN) is based on observations from the 1990s, while the annual anomalies and trends are estimated with ocean models. The variability in SOCEAN is evaluated with data products based on surveys of ocean CO2 measurements. The global residual terrestrial CO2 sink (SLAND) is estimated by the difference of the other terms of the global carbon budget and compared to results of independent dynamic global vegetation models forced by observed climate, CO2, and land-cover change (some including nitrogen-carbon interactions). We compare the mean land and ocean fluxes and their variability to estimates from three atmospheric inverse methods for three broad latitude bands. All uncertainties are reported as ±1σ, reflecting the current capacity to characterise the annual estimates of each component of the global

Global Tree Cover and Biomass Carbon on Agricultural Land: The contribution of agroforestry to global and national carbon budgets.

Science.gov (United States)

Zomer, Robert J; Neufeldt, Henry; Xu, Jianchu; Ahrends, Antje; Bossio, Deborah; Trabucco, Antonio; van Noordwijk, Meine; Wang, Mingcheng

2016-07-20

Agroforestry systems and tree cover on agricultural land make an important contribution to climate change mitigation, but are not systematically accounted for in either global carbon budgets or national carbon accounting. This paper assesses the role of trees on agricultural land and their significance for carbon sequestration at a global level, along with recent change trends. Remote sensing data show that in 2010, 43% of all agricultural land globally had at least 10% tree cover and that this has increased by 2% over the previous ten years. Combining geographically and bioclimatically stratified Intergovernmental Panel on Climate Change (IPCC) Tier 1 default estimates of carbon storage with this tree cover analysis, we estimated 45.3 PgC on agricultural land globally, with trees contributing >75%. Between 2000 and 2010 tree cover increased by 3.7%, resulting in an increase of >2 PgC (or 4.6%) of biomass carbon. On average, globally, biomass carbon increased from 20.4 to 21.4 tC ha(-1). Regional and country-level variation in stocks and trends were mapped and tabulated globally, and for all countries. Brazil, Indonesia, China and India had the largest increases in biomass carbon stored on agricultural land, while Argentina, Myanmar, and Sierra Leone had the largest decreases.

COLUMBUS. A global gas market model

Energy Technology Data Exchange (ETDEWEB)

Hecking, Harald; Panke, Timo

2012-03-15

A model of the global gas market is presented which in its basic version optimises the future development of production, transport and storage capacities as well as the actual gas flows around the world assuming perfect competition. Besides the transport of natural gas via pipelines also the global market for liquefied natural gas (LNG) is modelled using a hub-and-spoke approach. While in the basic version of the model an inelastic demand and a piecewise-linear supply function are used, both can be changed easily, e.g. to a Golombek style production function or a constant elasticity of substitution (CES) demand function. Due to the usage of mixed complementary programming (MCP) the model additionally allows for the simulation of strategic behaviour of different players in the gas market, e.g. the gas producers.

Geography of Global Forest Carbon Stocks & Dynamics

Science.gov (United States)

Saatchi, S. S.; Yu, Y.; Xu, L.; Yang, Y.; Fore, A.; Ganguly, S.; Nemani, R. R.; Zhang, G.; Lefsky, M. A.; Sun, G.; Woodall, C. W.; Naesset, E.; Seibt, U. H.

2014-12-01

Spatially explicit distribution of carbon stocks and dynamics in global forests can greatly reduce the uncertainty in the terrestrial portion of the global carbon cycle by improving estimates of emissions and uptakes from land use activities, and help with green house gas inventory at regional and national scales. Here, we produce the first global distribution of carbon stocks in living woody biomass at ~ 100 m (1-ha) resolution for circa 2005 from a combination of satellite observations and ground inventory data. The total carbon stored in live woody biomass is estimated to be 337 PgC with 258 PgC in aboveground and 79 PgC in roots, and partitioned globally in boreal (20%), tropical evergreen (50%), temperate (12%), and woodland savanna and shrublands (15%). We use a combination of satellite observations of tree height, remote sensing data on deforestation and degradation to quantify the dynamics of these forests at the biome level globally and provide geographical distribution of carbon storage dynamics in terms sinks and sources globally.

Asia's growing role in the global energy markets

International Nuclear Information System (INIS)

Anon.

1995-01-01

Three articles are drawn together in this special Petroleum Economist survey on the growing role played by Asian countries in global energy markets, both as world gas suppliers and as important markets for various oil products. The first looks at independent storage in the Asian countries in global energy markets, both as world gas suppliers and as important markets for various oil products. The first looks at independent storage in the Asian Pacific area; the second describes the growth of Asia's natural gas industry and the third item celebrates the product surplus produced due to recent refinery expansion programs. (UK)

Global Carbon Budget 2017

Science.gov (United States)

Le Quéré, Corinne; Andrew, Robbie M.; Friedlingstein, Pierre; Sitch, Stephen; Pongratz, Julia; Manning, Andrew C.; Korsbakken, Jan Ivar; Peters, Glen P.; Canadell, Josep G.; Jackson, Robert B.; Boden, Thomas A.; Tans, Pieter P.; Andrews, Oliver D.; Arora, Vivek K.; Bakker, Dorothee C. E.; Barbero, Leticia; Becker, Meike; Betts, Richard A.; Bopp, Laurent; Chevallier, Frédéric; Chini, Louise P.; Ciais, Philippe; Cosca, Catherine E.; Cross, Jessica; Currie, Kim; Gasser, Thomas; Harris, Ian; Hauck, Judith; Haverd, Vanessa; Houghton, Richard A.; Hunt, Christopher W.; Hurtt, George; Ilyina, Tatiana; Jain, Atul K.; Kato, Etsushi; Kautz, Markus; Keeling, Ralph F.; Klein Goldewijk, Kees; Körtzinger, Arne; Landschützer, Peter; Lefèvre, Nathalie; Lenton, Andrew; Lienert, Sebastian; Lima, Ivan; Lombardozzi, Danica; Metzl, Nicolas; Millero, Frank; Monteiro, Pedro M. S.; Munro, David R.; Nabel, Julia E. M. S.; Nakaoka, Shin-ichiro; Nojiri, Yukihiro; Padin, X. Antonio; Peregon, Anna; Pfeil, Benjamin; Pierrot, Denis; Poulter, Benjamin; Rehder, Gregor; Reimer, Janet; Rödenbeck, Christian; Schwinger, Jörg; Séférian, Roland; Skjelvan, Ingunn; Stocker, Benjamin D.; Tian, Hanqin; Tilbrook, Bronte; Tubiello, Francesco N.; van der Laan-Luijkx, Ingrid T.; van der Werf, Guido R.; van Heuven, Steven; Viovy, Nicolas; Vuichard, Nicolas; Walker, Anthony P.; Watson, Andrew J.; Wiltshire, Andrew J.; Zaehle, Sönke; Zhu, Dan

2018-03-01

Accurate assessment of anthropogenic carbon dioxide (CO2) emissions and their redistribution among the atmosphere, ocean, and terrestrial biosphere - the global carbon budget - is important to better understand the global carbon cycle, support the development of climate policies, and project future climate change. Here we describe data sets and methodology to quantify the five major components of the global carbon budget and their uncertainties. CO2 emissions from fossil fuels and industry (EFF) are based on energy statistics and cement production data, respectively, while emissions from land-use change (ELUC), mainly deforestation, are based on land-cover change data and bookkeeping models. The global atmospheric CO2 concentration is measured directly and its rate of growth (GATM) is computed from the annual changes in concentration. The ocean CO2 sink (SOCEAN) and terrestrial CO2 sink (SLAND) are estimated with global process models constrained by observations. The resulting carbon budget imbalance (BIM), the difference between the estimated total emissions and the estimated changes in the atmosphere, ocean, and terrestrial biosphere, is a measure of imperfect data and understanding of the contemporary carbon cycle. All uncertainties are reported as ±1σ. For the last decade available (2007-2016), EFF was 9.4 ± 0.5 GtC yr-1, ELUC 1.3 ± 0.7 GtC yr-1, GATM 4.7 ± 0.1 GtC yr-1, SOCEAN 2.4 ± 0.5 GtC yr-1, and SLAND 3.0 ± 0.8 GtC yr-1, with a budget imbalance BIM of 0.6 GtC yr-1 indicating overestimated emissions and/or underestimated sinks. For year 2016 alone, the growth in EFF was approximately zero and emissions remained at 9.9 ± 0.5 GtC yr-1. Also for 2016, ELUC was 1.3 ± 0.7 GtC yr-1, GATM was 6.1 ± 0.2 GtC yr-1, SOCEAN was 2.6 ± 0.5 GtC yr-1, and SLAND was 2.7 ± 1.0 GtC yr-1, with a small BIM of -0.3 GtC. GATM continued to be higher in 2016 compared to the past decade (2007-2016), reflecting in part the high fossil emissions and the small SLAND

Bottom-up linking of carbon markets under far-sighted cap coordination and reversibility

Science.gov (United States)

Heitzig, Jobst; Kornek, Ulrike

2018-03-01

The Paris Agreement relies on nationally determined contributions to reach its targets and asks countries to increase ambitions over time, leaving open the details of this process. Although overcoming countries' myopic `free-riding' incentives requires cooperation, the global public good character of mitigation makes forming coalitions difficult. To cooperate, countries may link their carbon markets1, but is this option beneficial2? Some countries might not participate, not agree to lower caps, or not comply to agreements. While non-compliance might be deterred3, countries can hope that if they don't participate, others might still form a coalition. When considering only one coalition whose members can leave freely, the literature following the publication of refs 4,5 finds meagre prospects for effective collaboration6. Countries also face incentives to increase emissions when linking their markets without a cap agreement7,8. Here, we analyse the dynamics of market linkage using a game-theoretic model of far-sighted coalition formation. In contrast to non-dynamic models and dynamic models without far-sightedness9,10, in our model an efficient global coalition always forms eventually if players are sufficiently far-sighted or caps are coordinated immediately when markets are linked.

Global stock market in 1990-s

Directory of Open Access Journals (Sweden)

Moshenskyi S.Z.

2017-08-01

Full Text Available The 1990s became a period of long-term recovery, the main driving force of which was the high-tech companies of the so-called «new economy», mainly associated with information technology and Internet at the global stock market. Such innovations have led to unrealistic expectations of the profitability of new companies from the sale of goods and services on the Internet. This became a prerequisite for a speculative boom in equity markets in developed financial systems. The boom intensified the mass privatization of state-owned enterprises in UK, Germany, France and some other countries. The capitalization of the global stock market increased more than ten times although the world GDP grew only 2.5 times during two decades, from 1980 to 2000. Though the stock market is the source of capital only in the countries with the Anglo-American model of financial markets (for countries of continental Europe and Japan such sources are bank loans, stock markets increased in all countries with developed financial systems. The systematic analysis of such key indicators as market capitalization and liquidity is required for an objective assessment of such rise in stock markets. But statistical information at stock markets is often not systematized and fragmentary. Therefore, the author (based on the official statistics of such international financial organizations as the Organization for Economic Co-operation and Development and the World Federation of Exchanges has calculated and systematically analyzed capitalization and liquidity as the main indicators of the stock market for the largest countries with developed financial systems (USA, Great Britain, Germany, France, Japan. The paper displays the differences in the mechanisms of attraction of capital determined by the different models of financial markets (decentralized Anglo-American and centralized European as well as the features of the composition of the main investors in the world stock markets.

Changing global carbon cycle

International Nuclear Information System (INIS)

Canadell, Pep

2007-01-01

Full text: The increase in atmospheric carbon dioxide (C02) is the single largest human perturbation on the earth's radiative balance contributing to climate change. Its rate of change reflects the balance between anthropogenic carbon emissions and the dynamics of a number of terrestrial and ocean processes that remove or emit C02. It is the long term evolution of this balance that will determine to large extent the speed and magnitude of the human induced climate change and the mitigation requirements to stabilise atmospheric C02 concentrations at any given level. In this talk, we show new trends in global carbon sources and sinks, with particularly focus on major shifts occurring since 2000 when the growth rate of atmospheric C02 has reached its highest level on record. The acceleration in the C02 growth results from the combination of several changes in properties of the carbon cycle, including: acceleration of anthropogenic carbon emissions; increased carbon intensity of the global economy, and decreased efficiency of natural carbon sinks. We discuss in more detail some of the possible causes of the reduced efficiency of natural carbon sinks on land and oceans, such as the decreased net sink in the Southern Ocean and on terrestrial mid-latitudes due to world-wide occurrence of drought. All these changes reported here characterise a carbon cycle that is generating stronger than expected climate forcing, and sooner than expected

Global offshore pipeline markets

International Nuclear Information System (INIS)

Knight, R.; Parsons, B.

2001-01-01

In this article, two experts forecast a recovery in the offshore pipeline market followed by accelerating growth. A number of clearly definable macro trends are affecting the world offshore oil and gas industry and will be of considerable significance to the offshore pipelines industry. The authors' view is of markets that show every chance of enjoying long-term growth prospects driven by the fundamentals of a continuing increase in demand for offshore oil and gas. The offshore industry however has a highly cyclical nature, due to the impact of variations in oil and gas prices and the differing state of maturity of individual regions. Therefore those companies that are able to offer the widest range of pipe types and diameters and methods of installation across the greatest range of geographic markets are likely to prosper most. Thus, this continues to be a market best suited to those able to operate on a global scale and make a corporate commitment measured in decades

Globalization, capital market and economic development in Nigeria

Directory of Open Access Journals (Sweden)

Olanrewaju Adewole Adediran

2015-01-01

Full Text Available This article examines the economic integration caused by globalization and effect of capital market in Nigeria context. It establishes the type of relationship and level of significance of globalization and capital market on the economic development. Globalization concept is framed as import plus export divided by growth ratio. The capital market was determined in terms of proxy (by GDP by price index. The growth ratio assessed the level of development using econometric model. The results suggest that sound economic reform and financial policies are necessary to achieve sustainable development in Nigeria. However, there is need to increase exports, reduce imports and control exchange rate for Nigeria to achieve sustainable economic development.

Atmospheric carbon dioxide and the global carbon cycle

Energy Technology Data Exchange (ETDEWEB)

Trabalka, J R [ed.

1985-12-01

This state-of-the-art volume presents discussions on the global cycle of carbon, the dynamic balance among global atmospheric CO2 sources and sinks. Separate abstracts have been prepared for the individual papers. (ACR)

The global carbon cycle

International Nuclear Information System (INIS)

Maier-Reimer, E.

1991-01-01

Basic concepts of the global carbon cycle on earth are described; by careful analyses of isotopic ratios, emission history and oceanic ventilation rates are derived, which provide crucial tests for constraining and calibrating models. Effects of deforestation, fertilizing, fossil fuel burning, soil erosion, etc. are quantified and compared, and the oceanic carbon process is evaluated. Oceanic and terrestrial biosphere modifications are discussed and a carbon cycle model is proposed

Global Ocean Carbon and Biogeochemistry Coordination

Science.gov (United States)

Telszewski, Maciej; Tanhua, Toste; Palacz, Artur

2016-04-01

The complexity of the marine carbon cycle and its numerous connections to carbon's atmospheric and terrestrial pathways means that a wide range of approaches have to be used in order to establish it's qualitative and quantitative role in the global climate system. Ocean carbon and biogeochemistry research, observations, and modelling are conducted at national, regional, and global levels to quantify the global ocean uptake of atmospheric CO2 and to understand controls of this process, the variability of uptake and vulnerability of carbon fluxes into the ocean. These science activities require support by a sustained, international effort that provides a central communication forum and coordination services to facilitate the compatibility and comparability of results from individual efforts and development of the ocean carbon data products that can be integrated with the terrestrial, atmospheric and human dimensions components of the global carbon cycle. The International Ocean Carbon Coordination Project (IOCCP) was created in 2005 by the IOC of UNESCO and the Scientific Committee on Oceanic Research. IOCCP provides an international, program-independent forum for global coordination of ocean carbon and biogeochemistry observations and integration with global carbon cycle science programs. The IOCCP coordinates an ever-increasing set of observations-related activities in the following domains: underway observations of biogeochemical water properties, ocean interior observations, ship-based time-series observations, large-scale ocean acidification monitoring, inorganic nutrients observations, biogeochemical instruments and autonomous sensors and data and information creation. Our contribution is through the facilitation of the development of globally acceptable strategies, methodologies, practices and standards homogenizing efforts of the research community and scientific advisory groups as well as integrating the ocean biogeochemistry observations with the

Global Carbon Budget 2016

Science.gov (United States)

Quéré, Corinne Le; Andrew, Robbie M.; Canadell, Josep G.; Sitch, Stephen; Korsbakken, Jan Ivar; Peters, Glen P.; Manning, Andrew C.; Boden, Thomas A.; Tans, Pieter P.; Houghton, Richard A.;

The market for carbon in the USA

International Nuclear Information System (INIS)

Oudshoff, B.

2008-01-01

Greenhouse gas emission trading in the United States (US) is becoming an increasingly important topic in national politics and trade and industry. There are many developments in legislation and regulation, varying from proposals for a carbon tax in California to discussions in the White House concerning the Lieberman-Warner Bill. Moreover, increasingly more voluntary initiatives and carbon markets are started up. According to a recent study of Point Carbon, the market amounted to 60 billion USD for 2.7 billion tons CO2 in 2007, which is an 80% increase compared to 2006. This article provides an overview of the main developments in the US in this area. [mk] [nl

Environment and economic risk: An analysis of carbon emission market and portfolio management.

Science.gov (United States)

Luo, Cuicui; Wu, Desheng

2016-08-01

Climate change has been one of the biggest and most controversial environmental issues of our times. It affects the global economy, environment and human health. Many researchers find that carbon dioxide (CO2) has contributed the most to climate change between 1750 and 2005. In this study, the orthogonal GARCH (OGARCH) model is applied to examine the time-varying correlations in European CO2 allowance, crude oil and stock markets in US, Europe and China during the Protocol's first commitment period. The results show that the correlations between EUA carbon spot price and the equity markets are higher and more volatile in US and Europe than in China. Then the optimal portfolios consisting these five time series are selected by Mean-Variance and Mean-CVAR models. It shows that the optimal portfolio selected by MV-OGARCH model has the best performance. Copyright © 2016 Elsevier Inc. All rights reserved.

The influencing factors of China carbon price: a study based on carbon trading market in hubei province

Science.gov (United States)

Li, Hao; Lei, Ming

2018-02-01

For the carbon market, good trading mechanism is the basis for the healthy development of the carbon trading market. In order to explore the core problem of carbon price formation, our research explores the influencing factors of the price of carbon trading market. After the preliminary statistical analysis, our study found that Hubei Province is in the leading position among seven pilots in the carbon trading volume and the transaction, so our study of carbon price takes Hubei Province as sample of the empirical research. Multi-time series model and ARCH model analysis method are used in the research, we use the data of Hubei carbon trading pilot from June 2014 to December 2016 to carry out empirical research, the results found that industrial income, energy price, government intervention and the number of participating corporation have significant effect on the carbon price, which provides a meaningful reference for the other pilots in-depth study, as well as the construction of a national carbon trading market.

Globalization determinants of raw materials markets development

Directory of Open Access Journals (Sweden)

Olga Yatsenko

2013-02-01

Full Text Available The determinants of development of raw materials markets and the peculiarities of their formation in the terms of world economy globalization have been researched. The empirical base of research is the agricultural food market as one of the most important bases in the sphere of material production and provision of food security of the country. The important social and economic mission of the agricultural sector has been highlighted, along with the export competitiveness and import dependence of agricultural food products in the international trade. The imperative norms have been substantiated and conclusions have been drawn regarding the establishment of respective conditions for the operation of globally integrated markets in Ukraine.

Global Carbon Budget 2017

Directory of Open Access Journals (Sweden)

C. Le Quéré

2018-03-01

Full Text Available Accurate assessment of anthropogenic carbon dioxide (CO2 emissions and their redistribution among the atmosphere, ocean, and terrestrial biosphere – the global carbon budget – is important to better understand the global carbon cycle, support the development of climate policies, and project future climate change. Here we describe data sets and methodology to quantify the five major components of the global carbon budget and their uncertainties. CO2 emissions from fossil fuels and industry (EFF are based on energy statistics and cement production data, respectively, while emissions from land-use change (ELUC, mainly deforestation, are based on land-cover change data and bookkeeping models. The global atmospheric CO2 concentration is measured directly and its rate of growth (GATM is computed from the annual changes in concentration. The ocean CO2 sink (SOCEAN and terrestrial CO2 sink (SLAND are estimated with global process models constrained by observations. The resulting carbon budget imbalance (BIM, the difference between the estimated total emissions and the estimated changes in the atmosphere, ocean, and terrestrial biosphere, is a measure of imperfect data and understanding of the contemporary carbon cycle. All uncertainties are reported as ±1σ. For the last decade available (2007–2016, EFF was 9.4 ± 0.5 GtC yr−1, ELUC 1.3 ± 0.7 GtC yr−1, GATM 4.7 ± 0.1 GtC yr−1, SOCEAN 2.4 ± 0.5 GtC yr−1, and SLAND 3.0 ± 0.8 GtC yr−1, with a budget imbalance BIM of 0.6 GtC yr−1 indicating overestimated emissions and/or underestimated sinks. For year 2016 alone, the growth in EFF was approximately zero and emissions remained at 9.9 ± 0.5 GtC yr−1. Also for 2016, ELUC was 1.3 ± 0.7 GtC yr−1, GATM was 6.1 ± 0.2 GtC yr−1, SOCEAN was 2.6 ± 0.5 GtC yr−1, and SLAND was 2.7 ± 1.0 GtC yr−1, with a small BIM of −0.3 GtC. GATM continued to be

Prospective of Transformation of Current Models of the Global Pharmaceutical Market

Directory of Open Access Journals (Sweden)

Yuriy Solodkovskyy

2012-02-01

Full Text Available This article thoroughly analyzes the current state of the global pharmaceutical market, defines the key factors for its development and outlines the promising areas of transformation of existing business models of top companies. The forecasted data relating to the market development until 2015 have been investigated. The global, market, technological and organizational factors of transformation of modern model of the global pharmaceutical market have been identified.

The consequences of product markets globalization for Ukraine’s national economy

Directory of Open Access Journals (Sweden)

Ivashchenko Maryna

2016-04-01

Full Text Available The features of global commodity markets have been considered in the article. The purpose of the article is to identify the sources and consequences of commodity markets globalization observable in the world economy and to develop the recommendations as for the state and corporate governance in the context of global competition. The author’s attention is paid to transnational corporations that make up the most significant competition in the global commodity markets. The influence of transnational business on product markets has been investigated. The last is defined as a product of globalization on the one hand, and becomes a catalyst of globalization processes on the other hand. Also the place of Ukraine in global ratings has been traced. It has been proved that the most effective way of behavior of Ukrainian enterprises on the global commodity markets among all the possible variants is the way of innovation development. Despite the reduction of the government regulatory role in the global economy it has been recommended the adoption of effective management decisions to support of the domestic producers but not at the expense of a healthy global competition.

Swindling. The carbon market hackers

International Nuclear Information System (INIS)

Chandes, C.; James, O.

2011-01-01

The author briefly describes how hackers robbed millions of carbon credits by breaking data system security and entering national registers which contain all operations related to carbon credits. Few companies acknowledge that they have been victims of these robberies. These robbed credits are tracked by Europol and Interpol. These attacks are suspected to come from mafia networks in Israel, Pakistan, Italy and Romania, who took advantage of the credit market fragilities

The drivers behind the globalization of natural gas markets

International Nuclear Information System (INIS)

Ahmed El Hachemi Mazighi

2006-01-01

Today, the globalisation of natural gas markets is a topic much discussed amongst gas industry practitioners, policy makers and academics. If there is a consensus on a tendency towards the ''commoditisation'' of natural gas markets, there is less agreement on the certainty of the global approach to gas marketing. The aim of this paper is to untangle the main drivers behind the globalisation of natural gas markets, both on the demand and supply sides, and to discuss problems related to the market structure, such as price arbitrages and organised markets. The paper will conclude that the globalisation of natural gas markets cannot be approached as a deterministic problem and as a consequence, there is still no precise answer as to when the different regional gas markets will forge a global one. (author)

Cosmopolitan canvases: the globalization of markets for contemporary art

NARCIS (Netherlands)

Velthuis, O.; Baia Curioni, S.

2015-01-01

This book brings together recent, multidisciplinary, cutting edge research on the globalization of markets for contemporary art. Focusing on different regions including China, Russia, India, and Japan, the chapters in this book study the extent to which art markets have indeed become global. On the

Benefits of carbon markets to small and medium enterprises (SMEs ...

African Journals Online (AJOL)

Harvested wooden handicrafts products have the ability to lock carbon for long time and mitigate climate change. These products are currently eligible for availing benefits from voluntary carbon markets. The market size and opportunities for carbon credits are likely to increase substantially for these products during the ...

Market Motivations for Voluntary Carbon Disclosure in Real Estate Industry

Science.gov (United States)

Ufere, Kalu Joseph; Alias, Buang; Godwin Uche, Aliagha

2016-07-01

Climate change mitigation in developing economies is a balancing act, between economic development and environmental sustainability. The need for market friendly determinants for low carbon economy, without compromising economic development is of essence. The aim of the study is to determine market friendly factors, which motivates voluntary carbon information disclosure, in the real estate industry. The study modeled economic factor with three variables and financial market factor with three variables against voluntary carbon information disclosure in the real estate industry. Structural equation modeling was used for the modeling and content analysis was used to collect data on the level of voluntary carbon information disclosure, from 2013 annual reports of 126 real estate sector companies listed in the Kuala Lumpur Stock Exchange (KLSE). The model achieved a good fit, and was acceptable prediction. The results show that financial market factor has a significant predictive influence on voluntary carbon disclosure. The application of the result is that financial market factor is has a significantly positive influence on companies’ willingness to make voluntary carbon disclosure in the real estate industry. The result may be limited to the real estate industry that is highly leveraged on syndicated fund.

The Global-Market Doctrine: A Study in Fundamentalist Theology. The Iconoclast.

Science.gov (United States)

McMurty, John

1997-01-01

Presents an interesting metaphorical critique of the current enthusiasm for the global market and the free market system. Delineates 10 defining principles of a fundamentalist theological doctrine and then suggests replacing the term "global market" with "Supreme Ruler." Criticizes free market capitalism as being occasionally…

Global Carbon Budget 2016

Science.gov (United States)

Le Quéré, Corinne; Andrew, Robbie M.; Canadell, Josep G.; Sitch, Stephen; Korsbakken, Jan Ivar; Peters, Glen P.; Manning, Andrew C.; Boden, Thomas A.; Tans, Pieter P.; Houghton, Richard A.; Keeling, Ralph F.; Alin, Simone; Andrews, Oliver D.; Anthoni, Peter; Barbero, Leticia; Bopp, Laurent; Chevallier, Frédéric; Chini, Louise P.; Ciais, Philippe; Currie, Kim; Delire, Christine; Doney, Scott C.; Friedlingstein, Pierre; Gkritzalis, Thanos; Harris, Ian; Hauck, Judith; Haverd, Vanessa; Hoppema, Mario; Klein Goldewijk, Kees; Jain, Atul K.; Kato, Etsushi; Körtzinger, Arne; Landschützer, Peter; Lefèvre, Nathalie; Lenton, Andrew; Lienert, Sebastian; Lombardozzi, Danica; Melton, Joe R.; Metzl, Nicolas; Millero, Frank; Monteiro, Pedro M. S.; Munro, David R.; Nabel, Julia E. M. S.; Nakaoka, Shin-ichiro; O'Brien, Kevin; Olsen, Are; Omar, Abdirahman M.; Ono, Tsuneo; Pierrot, Denis; Poulter, Benjamin; Rödenbeck, Christian; Salisbury, Joe; Schuster, Ute; Schwinger, Jörg; Séférian, Roland; Skjelvan, Ingunn; Stocker, Benjamin D.; Sutton, Adrienne J.; Takahashi, Taro; Tian, Hanqin; Tilbrook, Bronte; van der Laan-Luijkx, Ingrid T.; van der Werf, Guido R.; Viovy, Nicolas; Walker, Anthony P.; Wiltshire, Andrew J.; Zaehle, Sönke

2016-11-01

Accurate assessment of anthropogenic carbon dioxide (CO2) emissions and their redistribution among the atmosphere, ocean, and terrestrial biosphere - the "global carbon budget" - is important to better understand the global carbon cycle, support the development of climate policies, and project future climate change. Here we describe data sets and methodology to quantify all major components of the global carbon budget, including their uncertainties, based on the combination of a range of data, algorithms, statistics, and model estimates and their interpretation by a broad scientific community. We discuss changes compared to previous estimates and consistency within and among components, alongside methodology and data limitations. CO2 emissions from fossil fuels and industry (EFF) are based on energy statistics and cement production data, respectively, while emissions from land-use change (ELUC), mainly deforestation, are based on combined evidence from land-cover change data, fire activity associated with deforestation, and models. The global atmospheric CO2 concentration is measured directly and its rate of growth (GATM) is computed from the annual changes in concentration. The mean ocean CO2 sink (SOCEAN) is based on observations from the 1990s, while the annual anomalies and trends are estimated with ocean models. The variability in SOCEAN is evaluated with data products based on surveys of ocean CO2 measurements. The global residual terrestrial CO2 sink (SLAND) is estimated by the difference of the other terms of the global carbon budget and compared to results of independent dynamic global vegetation models. We compare the mean land and ocean fluxes and their variability to estimates from three atmospheric inverse methods for three broad latitude bands. All uncertainties are reported as ±1σ, reflecting the current capacity to characterise the annual estimates of each component of the global carbon budget. For the last decade available (2006-2015), EFF was 9

Structural Break, Stock Prices of Clean Energy Firms and Carbon Market

Science.gov (United States)

Wang, Yubao; Cai, Junyu

2018-03-01

This paper uses EU ETS carbon future price and Germany/UK clean energy firms stock indices to study the relationship between carbon market and clean energy market. By structural break test, it is found that the ‘non-stationary’ variables judged by classical unit root test do own unit roots and need taking first difference. After analysis of VAR and Granger causality test, no causal relationships are found between the two markets. However, when Hsiao’s version of causality test is employed, carbon market is found to have power in explaining the movement of stock prices of clean energy firms, and stock prices of clean energy firms also affect the carbon market.

ASSESSMENT OF THE BUSINESS ENVIRONMENT FOR DEVELOPMENT OF GLOBAL MARKETING STRATEGY

Directory of Open Access Journals (Sweden)

V. Savelyev

2014-03-01

Full Text Available The article concerns with essence of assessment of the business environment and specific directions of analysis during the working out of global marketing strategy. The classification of the global marketing environment researches and tasks sequence in the context of the decisions made on each stage of global marketing strategy is proposed.

Addressing carbon Offsetters’ Paradox: Lessons from Chinese wind CDM

International Nuclear Information System (INIS)

He, Gang; Morse, Richard

2013-01-01

The clean development mechanism (CDM) has been a leading international carbon market and a driving force for sustainable development. But the eruption of controversy over offsets from Chinese wind power in 2009 exposed cracks at the core of how carbon credits are verified in the developing economies. The Chinese wind controversy therefore has direct implications for the design and negotiation of any successor to the Kyoto Protocol or future market-based carbon regimes. In order for carbon markets to avoid controversy and function effectively, the lessons from the Chinese wind controversy should be used to implement key reforms in current and future carbon policy design. The paper examines the application of additionality in the Chinese wind power market and draws implications for the design of effective global carbon offset policy. It demonstrates the causes of the wind power controversy, highlights underlying structural flaws, in how additionality is applied in China, the Offsetters' Paradox, and charts a reform path that can strengthen the credibility of global carbon markets. - Highlights: • We investigated 143 Chinese wind CDM projects by the eruption of the additionality controversy. • We examined the application of additionality in the Chinese wind power market. • We drew implications for the design of effective global carbon offset policy. • The underlying structural flaws of CDM, the Offsetters′ Paradox, was discussed. • We charted a reform path that can strengthen the credibility of global carbon markets

Globalization, Labor Markets and Inequality in India | CRDI - Centre ...

International Development Research Centre (IDRC) Digital Library (Canada)

Globalization, Labor Markets and Inequality in India. Couverture du livre Globalization, Labor Markets and Inequality in India. Auteur(s):. Dipak Mazumdar et Sandip Sarkar. Maison(s) d'édition: Routledge, CRDI. 30 janvier 2008. ISBN : 9780415436113. 384 pages. e-ISBN : 9781552503737. Téléchargez le PDF.

'Carbon-Money Exchange' to contain global warming and deforestation

Energy Technology Data Exchange (ETDEWEB)

Nagase, Kozo E-mail: nagase@de.mbn.or.jp

2005-07-01

This paper builds a basic theory of 'Carbon-Money Exchange' in which carbon as currency in nature's household (ecosystems) and money as currency in humankind's household (economy) are exchanged just like in a foreign exchange. The simple chemical equation below makes it possible (CO{sub 2}{yields}C+O{sub 2}=C+O{sub 2}{yields}CO{sub 2}). The left-hand side represents the work of plants to remove atmospheric CO{sub 2}. The right-hand side represents the work of humans as fossil fuel consumers to produce it. The exchange of the two currencies is possible by copying the fossil fuel market. The paper concludes that this new exchange can automatically contain global warming and deforestation, replacing onerous emissions trading. Moreover, it could revolutionize the conventional economy, creating counter-capitalism, or 'carbonism'.

The Century-Long Challenge of Global Carbon Management

Science.gov (United States)

Socolow, R.

2002-05-01

The time scale of the global carbon management is a century, not a decade and not a millennium. A century is the ratio of 1000 billion metric tons of carbon [Gt(C)] to 10 Gt(C)/yr. 1000 Gt(C) is the future emissions that will lead to approximately a doubling of the pre-industrial atmospheric CO2 concentration, 280 ppm, assuming the total net ocean plus terrestrial sink remains at half the strength of this source - since 2.1 Gt (C) = 1 ppm, and the concentration today is already 370 ppm. Doubling is the most widely used boundary between acceptable and unacceptable Greenhouse-related environmental disruption, or, in the language of the Framework Convention on Climate Change, the onset of "dangerous anthropogenic interference with the climate system." And 10 Gt(C)/yr is a conservative estimate of the average annual fossil-fuel carbon source over the century; it is now between 6 and 7 Gt(C). Conventional oil and gas are not sufficiently abundant to generate a serious Greenhouse problem on their own. Well before their cumulative carbon emissions reach 1000 Gt(C), both are expected to become non-competitive as a result of growing costs of access (costs related to resources being very deep underground, or below very deep water, or very remote, or very small.) But several times 1000 Gt(C) of coal resources will probably be competitive with non-fossil fuel alternatives, as will "unconventional" oil and gas resources, such as tar sands. The world will not be saved from a serious Greenhouse problem by fossil fuel depletion. There are four mitigation strategies for avoiding dangerous interference with the climate system. Fossil fuels can cease to dominate the global energy system well before the end of the century, yielding large market share to some combination of renewable energy and nuclear (fission and fusion) energy sources. Fossil fuels can continue to dominate, but most of the carbon in the century's fossil fuels can be prevented from reaching the atmosphere (fossil-carbon

(Mismanaging labour markets? The decline of the contemporary global labour market for British seafarers.

Directory of Open Access Journals (Sweden)

S. Ruggunan

2010-12-01

Full Text Available Purpose: The purpose of this article is to investigate the ways in which states are still significant actors in creating and shaping the nature and characteristics of global labour markets. My argument is demonstrated through an empirical case study of the global labour market for British seafarers. Problem Investigated: The last 30 years has witnessed a decimation of the number of employed British seafarers, particularly at lower rank levels, such as ratings. I contend that despite Britain's long and rich maritime history, the British state has not acted meaningfully to reverse the decline of British seafarers. The lack of meaningful action I contend is an attempt to crew British owned ships with cheaper seafaring labour from Asia, particularly south east Asia. In so doing the British state has contributed to the decline of a once thriving labour market. There has simultaneously been an upsurge in the employment of seafarers of other nationalities, and thus the creation of new labour markets in countries such as the Philippines. This paper is an attempt to understand some of the factors responsible for the decline of the British labour market for seafarers. Methodology and Approach: This paper is the outcome of a larger qualitative study undertaken for my doctoral thesis in industrial sociology which examined the transformation of the global labour market for South African, Filipino and British seafarers. The methodology consists of in depth interviews with maritime officials and trade union leaders. These were conducted in person in London, United Kingdom between 2005 and 2008. These interviews are supported by extensive literature and documentary research, to validate, support and test claims made by my interviewees. Implications and Value of the Research: The theoretical contribution of this paper is to reinsert the state more critically into the literature on labour markets. Empirically, seafaring labour markets are largely ignored by the

The drivers behind the globalization of natural gas markets

Energy Technology Data Exchange (ETDEWEB)

Ahmed El Hachemi Mazighi [Sonatrach Commercialisation, Algiers (Algeria)

2006-06-15

Today, the globalisation of natural gas markets is a topic much discussed amongst gas industry practitioners, policy makers and academics. If there is a consensus on a tendency towards the ''commoditisation'' of natural gas markets, there is less agreement on the certainty of the global approach to gas marketing. The aim of this paper is to untangle the main drivers behind the globalisation of natural gas markets, both on the demand and supply sides, and to discuss problems related to the market structure, such as price arbitrages and organised markets. The paper will conclude that the globalisation of natural gas markets cannot be approached as a deterministic problem and as a consequence, there is still no precise answer as to when the different regional gas markets will forge a global one. (author)

Globalization and innovation in emerging markets

OpenAIRE

Gorodnichenko, Yuriy; Svejnar, Jan; Terrell, Katherine

2009-01-01

Globalization brings opportunities and pressures for domestic firms in emerging markets to innovate and improve their competitive position. Using data on firms in 27 transition economies, the authors test for the effects of globalization through the impact of increased competition and foreign direct investment on domestic firms' efforts to innovate (raise their capability) by upgrading the...

Beyond pure offsetting: Assessing options to generate Net-Mitigation-Effects in carbon market mechanisms

International Nuclear Information System (INIS)

Warnecke, Carsten; Wartmann, Sina; Höhne, Niklas; Blok, Kornelis

2014-01-01

The current project-based carbon market mechanisms such as the Clean Development Mechanism (CDM) and the Joint Implementation (JI) do not have a direct impact on global greenhouse gas emission levels, because they only replace or offset emissions. Nor do they contribute to host country's national greenhouse gas emission reduction targets. Contributions to net emission reductions in host countries is likely to become mandatory in new mechanisms under development such as in the framework for various approaches, a new market-based mechanism and even in a reformed JI. This research analysed the question if approaches for carbon market-based mechanisms exist that allow the generation of net emission reductions in host countries while keeping project initiation attractive. We present a criteria-based assessment method and apply it for four generic options in existing mechanisms and derive implications for future mechanism frameworks. We identified the application of “discounts” on the amount of avoided emissions for the issuance of carbon credits and “standardisation below business as usual” as most promising options over “limiting the crediting period” and “over-conservativeness”. We propose to apply these options differentiated over project types based on internal rate of return to ensure cost-efficiency and attractiveness. - Highlights: • Options for net emission reductions of market-based mechanisms are assessed. • Research combines past and current views for project and sector-based mechanisms. • Implementation ensures initiation of mitigation activities is not discouraged. • Important insights for methodological design of new market-based mechanisms. • Profitability-based approach for project-based mechanisms suggested

Branding and Performance in the Global Beer Market

DEFF Research Database (Denmark)

Madsen, Erik Strøjer

The mass market for beers is served by a few global breweries in an oligopoly structure covering most of the world market. The homogeneity of their main lager beers are very high and produced at large scaled plants at low costs. However, the breweries spend large amounts of money to promote some...... of the lager beers as premium beers and at a high and increasing price premium. Based on a database with prices for standard and premium lager, the paper study the development in the consumption of different types of beers on the global market in recent years. We estimate the price premium on premium beers...... and relate it to the rapid change in the oligopoly structure of the market through the merger and acquisition activities....

Carbon Pricing, Power Markets and the Competitiveness of Nuclear Power

International Nuclear Information System (INIS)

2011-01-01

This study assesses the competitiveness of nuclear power against coal- and gas-fired power generation in liberalized electricity markets with either CO 2 trading or carbon taxes. It uses daily price data for electricity, gas, coal and carbon from 2005 to 2010, which encompasses the first years of the European Emissions Trading System (EU ETS), the world's foremost carbon trading framework. The study shows that even with modest carbon pricing, competition for new investment in electricity markets will take place between nuclear energy and gas-fired power generation, with coal-fired power struggling to be profitable. The data and analyses contained in this study provide a robust framework for assessing cost and investment issues in liberalized electricity markets with carbon pricing. (authors)

Concentration and Competition in the Global Meat Market

Directory of Open Access Journals (Sweden)

Bocharova Yuliia G.

2016-03-01

Full Text Available The article is aimed at analyzing the condition, development specifics, concentration and competition in the global meat market. Both significance and role of meat in providing the food security has been substantiated. An analysis of the dynamics and structure (both geographical and commodity of production volumes, consumption, exports and imports of meat has been conducted. The major producers, consumers, exporters and importers of meat in the context of globalization have been identified. The country-based features, patterns of consumption and imports of meat have been characterized. On the basis of calculated five indicators of concentration (coefficient of concentration, the Herfindahl-Hirschman index, coefficient of relative concentration, dispersion of logarithms of market shares, index of the maximum share the features of competition in the global market of producers and consumers of meat have been determined.

Trading Platform for the Global Warrant Markets

Directory of Open Access Journals (Sweden)

Iosif ZIMAN

2011-01-01

Full Text Available Global warrant markets are among the most active financial markets in the retail derivatives investment landscape currently. In this context some of the most relevant markets in the last years have been the ones across Asia and in particular Hong Kong, Korea and Japan. This paper introduces the financial instruments used in connection with the warrant markets, pre-sents and offers suggestions for setting up a generic warrant market making system and in-troduces the main concepts and components that need to be taken into account when develop-ing these systems targeting an exchange driven or E-Businesscontext.

Carbon emission from global hydroelectric reservoirs revisited.

Science.gov (United States)

Li, Siyue; Zhang, Quanfa

2014-12-01

Substantial greenhouse gas (GHG) emissions from hydropower reservoirs have been of great concerns recently, yet the significant carbon emitters of drawdown area and reservoir downstream (including spillways and turbines as well as river reaches below dams) have not been included in global carbon budget. Here, we revisit GHG emission from hydropower reservoirs by considering reservoir surface area, drawdown zone and reservoir downstream. Our estimates demonstrate around 301.3 Tg carbon dioxide (CO2)/year and 18.7 Tg methane (CH4)/year from global hydroelectric reservoirs, which are much higher than recent observations. The sum of drawdown and downstream emission, which is generally overlooked, represents 42 % CO2 and 67 % CH4 of the total emissions from hydropower reservoirs. Accordingly, the global average emissions from hydropower are estimated to be 92 g CO2/kWh and 5.7 g CH4/kWh. Nonetheless, global hydroelectricity could currently reduce approximate 2,351 Tg CO2eq/year with respect to fuel fossil plant alternative. The new findings show a substantial revision of carbon emission from the global hydropower reservoirs.

The slow asphyxia of the carbon market

International Nuclear Information System (INIS)

Mary, Olivier

2016-01-01

As carbon price is at its lowest level on the European market, this article outlines that carbon therefore does not play its incentive role for low-carbon investments any more. It notices that reforms are needed, and sometimes even proposed, but are very difficult to implement because of diverging and conflicting interests between the 28 member States and also the concerned sectors

The carbon cycle and global warming

International Nuclear Information System (INIS)

Anon.

1991-01-01

Five land-use-based approaches can be used to slow the buildup of CO 2 in the atmosphere: slowing or stopping the loss of existing forests, thus preserving current carbon reservoirs; adding to the planet's vegetative cover through reforestation or other means, thus enlarging living terrestrial carbon reservoirs; increasing the carbon stored in nonliving carbon reservoirs such as agricultural soils; increasing the carbon stored in artificial reservoirs, including timber products; and substituting sustainable biomass energy sources for fossil fuel consumption, thus reducing energy-related carbon emissions. These approaches are all based on the same basic premise: adding to the planet's net carbon stores in vegetative cover or soil, or preventing any net loss, will help moderate global warming by keeping atmospheric CO 2 levels lower than they would otherwise be. Because biotic policy options appear capable of contributing significantly to the mitigation of global warming while also furthering many other public policy objectives, their role deserves careful consideration on a country-by-country basis

Measuring Urban Carbon Footprint from Carbon Flows in the Global Supply Chain.

Science.gov (United States)

Hu, Yuanchao; Lin, Jianyi; Cui, Shenghui; Khanna, Nina Zheng

2016-06-21

A global multiregional input-output (MRIO) model was built for eight Chinese cities to track their carbon flows. For in-depth understanding of urban carbon footprint from the perspectives of production, consumption, and trade balance, four kinds of footprints and four redefined measurement indicators were calculated. From the global supply chain, urban carbon inflows from Mainland China were larger than outflows, while the carbon outflows to European, principal North American countries and East Asia were much larger than inflows. With the rapid urbanization of China, Construction was the largest consumer and Utilities was the largest producer. Cities with higher consumption (such as Dalian, Tianjin, Shanghai, and Beijing) should change their consumption patterns, while cities with lower production efficiency (such as Dalian, Shanghai, Ningbo, and Chongqing) should improve their technology. The cities of net carbon consumption tended to transfer carbon emissions out of them by trading in carbon-intensive products, while the cities of net carbon production tended to produce carbon-intensive products for nonlocal consumers. Our results indicated that urban carbon abatement requires not only rational consumption and industrial symbiosis at the city level, but also tighter collaboration along all stages of the global supply chain.

Marketing library and information services II a global outlook

CERN Document Server

Gupta, Dinesh K; Massisimo, Angels

2013-01-01

With contributions from library and information professionals (practitioners, researchers, faculty members, consultants, and others), Marketing Library and Information Services: A Global Outlook highlights a variety of exemplary LIS marketing practices and efforts from around the globe. The following broad topics are explored: changing marketing concepts; marketing library

Development of a Climate Prediction Market

Science.gov (United States)

Roulston, M. S.

2017-12-01

Winton, a global investment firm, is planning to establish a prediction market for climate. This prediction market will allow participants to place bets on global climate up to several decades in the future. Winton is pursuing this endeavour as part of its philanthropy that funds scientific research and the communication of scientific ideas. The Winton Climate Prediction Market will be based in the U.K. It will be structured as an online gambling site subject to the regulation of the Gambling Commission. Unlike existing betting sites, the Climate Prediction Market will be subsidized: a central market maker will inject money into the market. This is in contrast to traditional bookmakers or betting exchanges who set odds in their favour or charge commissions to make a profit. The philosophy of a subsidized prediction market is that the party seeking information should fund the market, rather than the participants who provide the information. The initial market will allow bets to be placed on the atmospheric concentration of carbon dioxide and the global mean temperature anomaly. It will thus produce implied forecasts of carbon dioxide concentration as well as global temperatures. If the initial market is successful, additional markets could be added which target other climate variables, such as regional temperatures or sea-level rise. These markets could be sponsored by organizations that are interested in predictions of the specific climate variables. An online platform for the Climate Prediction Market has been developed and has been tested internally at Winton.

Implications of carbon cap-and-trade for US voluntary renewable energy markets

International Nuclear Information System (INIS)

Bird, Lori A.; Holt, Edward; Levenstein Carroll, Ghita

2008-01-01

Many consumers today are purchasing renewable energy in large part for the greenhouse gas (GHG) emissions benefits that they provide. Emerging carbon regulation in the US has the potential to affect existing markets for renewable energy. Carbon cap-and-trade programs are now under development in the Northeast under the Regional Greenhouse Gas Initiative (RGGI) and in early stages of development in the West and Midwest. There is increasing discussion about carbon regulation at the national level as well. While renewable energy will likely benefit from carbon cap-and-trade programs because compliance with the cap will increase the costs of fossil fuel generation, cap-and-trade programs can also impact the ability of renewable energy generation to affect overall CO 2 emissions levels and obtain value for those emissions benefits. This paper summarizes key issues for renewable energy markets that are emerging with carbon regulation, such as the implications for emissions benefits claims and voluntary market demand and the use of renewable energy certificates (RECs) in multiple markets. It also explores policy options under consideration for designing carbon policies to enable carbon markets and renewable energy markets to work together

Key determinants of managing the marketing asset of global companies

Directory of Open Access Journals (Sweden)

Tatyana Tsygankova

2016-12-01

Full Text Available As a result of organization and summarization of key concepts of evolution of the marketing tools of global companies, the authors determined the role of the marketing assets in the system of modern marketing management (as a dialectically higher stage of development of the analyzed tools, which will allow overcoming the antagonistic contradiction of “P- and C-vectors” of their development. The article identified the optimal set of key elements of the system of marketing assets, which are the brand, customer loyalty, reputation, network cooperation, marketing strategy, internal marketing, marketing information system and marketing innovation. Due to correlation and regression analysis of the impact of each system elements on performance of global companies, the model of the "marketing asset octagon" was built as an integrative management tool. Also, as a result of construction of the said model, the authors identified the most profitable marketing assets, return on investment and development of competencies in the field of efficient management will bring the highest profit to the company. On the basis of summarizing the regional and branch features of managing the disparate elements of the marketing assets of global companies, the key regional and sectoral priorities of formation, development and improvement of existing concepts of the international marketing management were identified, particularly in terms of building an author’s integrative octagon model.

CARBON ACCOUNTING INITIATIVES: CASE STUDY OF A PETROLEUM REFINERY IN MALAYSIA TO PREPARE FOR FUTURE CARBON MARKET

Directory of Open Access Journals (Sweden)

AMANDA H.L. CHEE

2010-06-01

Full Text Available Petroleum refining process produces a large amount of atmospheric pollutants including greenhouse gases which are attributed to global warming. The international community inevitably addressed the global warming issue by introducing a market-based mechanism known as Emission Trading Systems (ETS under the Kyoto Protocol which imposes binding limits to developed nations using three flexibility mechanisms, including the Clean Development Mechanism (CDM. This case study was carried out in a petroleum refinery in Malaysia to explore the possibility for the refinery to participate in CDM. Information was collected through observatory field survey at the refinery and documentation review. Results show that the current monitoring tool using indirect calculation of fuel consumption provides a comprehensive coverage of emission sources but the reporting frequency should be increased for data accuracy. An accounting system was then created to predict the emissions gap of the refinery with reference to the baseline-year set by the Kyoto Protocol. It was concluded that the refinery showed promising potential to participate in CDM to benefit from technology transfer by selling their ‘credits’ to Annex I countries despite the uncertainty on the impact of the carbon market in a Non-Annex I country.

Globalization and innovation in emerging markets

Czech Academy of Sciences Publication Activity Database

Gorodnichenko, Y.; Švejnar, Jan; Terrell, K.

-, č. 14481 (2008), s. 1-48 ISSN N Institutional research plan: CEZ:AV0Z70850503 Keywords : globalization * innovation * emerging markets Subject RIV: AH - Economics http://www.nber.org/papers/w14481.pdf

Carbon pricing, nuclear power and electricity markets

Energy Technology Data Exchange (ETDEWEB)

Cameron, R.; Keppler, J. H. [OECD Nuclear Energy Agency, 12, boulevard des Iles, 92130 Issy-les-Moulineaux (France)

2012-07-01

In 2010, the NEA in conjunction with the International Energy Agency produced an analysis of the Projected Costs of Electricity for almost 200 power plants, covering nuclear, fossil fuel and renewable electricity generation. That analysis used lifetime costs to consider the merits of each technology. However, the lifetime cost analysis is less applicable in liberalised markets and does not look specifically at the viewpoint of the private investor. A follow-up NEA assessment of the competitiveness of nuclear energy against coal- and gas-fired generation under carbon pricing has considered just this question. The economic competition in electricity markets is today between nuclear energy and gas-fired power generation, with coal-fired power generation not being competitive as soon as even modest carbon pricing is introduced. Whether nuclear energy or natural gas comes out ahead in their competition depends on a number of assumptions, which, while all entirely reasonable, yield very different outcomes. The analysis in this study has been developed on the basis of daily data from European power markets over the last five-year period. Three different methodologies, a Profit Analysis looking at historic returns over the past five years, an Investment Analysis projecting the conditions of the past five years over the lifetime of plants and a Carbon Tax Analysis (differentiating the Investment Analysis for different carbon prices) look at the issue of competitiveness from different angles. They show that the competitiveness of nuclear energy depends on a number of variables which in different configurations determine whether electricity produced from nuclear power or from CCGTs generates higher profits for its investors. These are overnight costs, financing costs, gas prices, carbon prices, profit margins (or mark-ups), the amount of coal with carbon capture and electricity prices. This paper will present the outcomes of the analysis in the context of a liberalised

Carbon pricing, nuclear power and electricity markets

International Nuclear Information System (INIS)

Cameron, R.; Keppler, J. H.

2012-01-01

In 2010, the NEA in conjunction with the International Energy Agency produced an analysis of the Projected Costs of Electricity for almost 200 power plants, covering nuclear, fossil fuel and renewable electricity generation. That analysis used lifetime costs to consider the merits of each technology. However, the lifetime cost analysis is less applicable in liberalised markets and does not look specifically at the viewpoint of the private investor. A follow-up NEA assessment of the competitiveness of nuclear energy against coal- and gas-fired generation under carbon pricing has considered just this question. The economic competition in electricity markets is today between nuclear energy and gas-fired power generation, with coal-fired power generation not being competitive as soon as even modest carbon pricing is introduced. Whether nuclear energy or natural gas comes out ahead in their competition depends on a number of assumptions, which, while all entirely reasonable, yield very different outcomes. The analysis in this study has been developed on the basis of daily data from European power markets over the last five-year period. Three different methodologies, a Profit Analysis looking at historic returns over the past five years, an Investment Analysis projecting the conditions of the past five years over the lifetime of plants and a Carbon Tax Analysis (differentiating the Investment Analysis for different carbon prices) look at the issue of competitiveness from different angles. They show that the competitiveness of nuclear energy depends on a number of variables which in different configurations determine whether electricity produced from nuclear power or from CCGTs generates higher profits for its investors. These are overnight costs, financing costs, gas prices, carbon prices, profit margins (or mark-ups), the amount of coal with carbon capture and electricity prices. This paper will present the outcomes of the analysis in the context of a liberalised

A Journey from Regional Gas Markets to a Global Gas Market

International Nuclear Information System (INIS)

Waterlander, O.; Schlaak, T.; Donohue, T.; Sarraf, G.

2008-06-01

According to the authors understanding the landscape of gas markets in the short and medium terms has never been as challenging as it is today. In this article, they describe three potential market scenarios to illustrate the drivers of market globalization: (1) A supply-driven imbalance in which the Middle East's export ability is constrained; (2) A demand-driven imbalance in which binding CO2 legislation in the U.S. gives a sharp boost to gas-fired power generation; and (3) A scenario in which both situations occur in concert.

Intervening in global markets to improve access to HIV/AIDS treatment: an analysis of international policies and the dynamics of global antiretroviral medicines markets.

Science.gov (United States)

Waning, Brenda; Kyle, Margaret; Diedrichsen, Ellen; Soucy, Lyne; Hochstadt, Jenny; Bärnighausen, Till; Moon, Suerie

2010-05-25

Universal access to antiretroviral therapy (ART) in low- and middle-income countries faces numerous challenges: increasing numbers of people needing ART, new guidelines recommending more expensive antiretroviral (ARV) medicines, limited financing, and few fixed-dose combination (FDC) products. Global initiatives aim to promote efficient global ARV markets, yet little is known about market dynamics and the impact of global policy interventions. We utilize several data sources, including 12,958 donor-funded, adult first-line ARV purchase transactions, to describe the market from 2002-2008. We examine relationships between market trends and: World Health Organization (WHO) HIV/AIDS treatment guidelines; WHO Prequalification Programme (WHO Prequal) and United States (US) Food and Drug Administration (FDA) approvals; and procurement policies of the Global Fund to Fight AIDS, Tuberculosis, and Malaria (GFATM), US President's Emergency Plan for AIDS Relief (PEPFAR) and UNITAID. WHO recommended 7, 4, 24, and 6 first-line regimens in 2002, 2003, 2006 and 2009 guidelines, respectively. 2009 guidelines replaced a stavudine-based regimen ($88/person/year) with more expensive zidovudine- ($154-260/person/year) or tenofovir-based ($244-465/person/year) regimens. Purchase volumes for ARVs newly-recommended in 2006 (emtricitabine, tenofovir) increased >15-fold from 2006 to 2008. Twenty-four generic FDCs were quality-approved for older regimens but only four for newer regimens. Generic FDCs were available to GFATM recipients in 2004 but to PEPFAR recipients only after FDA approval in 2006. Price trends for single-component generic medicines mirrored generic FDC prices. Two large-scale purchasers, PEPFAR and UNITAID, together accounted for 53%, 84%, and 77% of market volume for abacavir, emtricitabine, and tenofovir, respectively, in 2008. PEPFAR and UNITAID purchases were often split across two manufacturers. Global initiatives facilitated the creation of fairly efficient markets

Soil carbon sequestration, carbon markets, and conservation agriculture practices: A hypothetical examination in Mozambique

Directory of Open Access Journals (Sweden)

Timoteo E. Simone

2017-09-01

Full Text Available Payments for Environmental Services (PES are relatively novel mechanisms whereby the adoption of sustainable management practices by a stakeholder is rewarded by incentives linked to external markets. Adoption of PES for conservation agricultural practices (CAPS by smallholder farmers may provide opportunities to increase household income or cover the technology costs of adoption if the carbon sequestration benefits of CAPS are quantifiable, adoption rates are accelerated and maintained, a mechanism exists whereby carbon sequestration services can be compensated, and carbon offset exchange markets are viable. This research suggests a methodology to examine a PES market for carbon offsets generated by the adoption of CAPS by farmers in Mozambique. Assuming a cumulative adoption of 60% over a 20-year period, revenue from PES market participation to CA adopters was two times higher than revenue earned when disadoption occurred midway through the simulation. Lower adoption targets are associated with higher per household returns when fertilizer rates typical to the region are increased. Establishing and maintaining a sustainable PES system in the study region would require significant investment in time and resources. The lack of on-the-ground institutions or local support for such a program would also challenge successful implementation. Finally, the programs where participant success depends on external markets, such as the hypothetical one suggested here, are subject to the ebb and flow of foreign demand for carbon offsets. Addressing these three broad constraints to a PES/CAPS program in the region would require grass-roots driven policy initiatives with buy-in at multiple social, economic, and political levels.

Achieving Carbon Neutrality in the Global Aluminum Industry

Science.gov (United States)

Das, Subodh

2012-02-01

In the 21st century, sustainability is widely regarded as the new corporate culture, and leading manufacturing companies (Toyota, GE, and Alcoa) and service companies (Google and Federal Express) are striving towards carbon neutrality. The current carbon footprint of the global aluminum industry is estimated at 500 million metric tonnes carbon dioxide equivalent (CO2eq), representing about 1.7% of global emissions from all sources. For the global aluminum industry, carbon neutrality is defined as a state where the total "in-use" CO2eq saved from all products in current use, including incremental process efficiency improvements, recycling, and urban mining activities, equals the CO2eq expended to produce the global output of aluminum. This paper outlines an integrated and quantifiable plan for achieving "carbon neutrality" in the global aluminum industry by advocating five actionable steps: (1) increase use of "green" electrical energy grid by 8%, (2) reduce process energy needs by 16%, (3) deploy 35% of products in "in-use" energy saving applications, (4) divert 6.1 million metric tonnes/year from landfills, and (5) mine 4.5 million metric tonnes/year from aluminum-rich "urban mines." Since it takes 20 times more energy to make aluminum from bauxite ore than to recycle it from scrap, the global aluminum industry could set a reasonable, self-imposed energy/carbon neutrality goal to incrementally increase the supply of recycled aluminum by at least 1.05 metric tonnes for every tonne of incremental production via primary aluminum smelter capacity. Furthermore, the aluminum industry can and should take a global leadership position by actively developing internationally accepted and approved carbon footprint credit protocols.

Regulation of alcohol marketing: a global view.

Science.gov (United States)

Casswell, Sally; Maxwell, Anna

2005-09-01

The marketing of alcohol produces a new challenge for policy development internationally, in part because of the increase in the use of new, unmeasured technologies. Many of these new developments are, as yet, relatively invisible in the policy arena. New approaches in branding, the utilization of marketing opportunities via branded events and new products provide additional complexity to attempts to monitor and to restrict the impact of marketing on young people and other vulnerable groups. Current attempts to restrict marketing globally, which rely primarily on voluntary codes and focus on traditional media, are inadequate to these challenges. A new statutory framework is required to enable the monitoring and control of the full marketing mix in ways which match the sophistication of the marketing efforts themselves.

Meat export competitiveness of European Union countries on global markets

Directory of Open Access Journals (Sweden)

Štefan Bojnec

2014-10-01

Full Text Available The purpose of this research is to provide insight into the export competitiveness of meat products of the European Union (EU-27 member states on global markets. The revealed comparative advantage index is used to analyze the levels, compositions, and evolutions in patterns of development in the export competitiveness of meat products and their levels of stability at the product level. Except for some niche meat products, a larger number of the EU-27 member states have experienced comparative disadvantages on global markets over the analysed years of 2000 to 2011. The revealed comparative advantages on the global markets are the most robust for Ireland, Spain, the Netherlands, France, Belgium, Denmark, Poland, Cyprus and Hungary. The revealed comparative advantage indices and their survival rates differ across the meat product groups. The heterogeneity in export competitiveness of the EU-27 member states suggests the importance of the differentiation of meat products in competitive export specialization on global markets.

Global low-carbon transition and China's response strategies

Directory of Open Access Journals (Sweden)

Jian-Kun He

2016-12-01

Full Text Available The Paris Agreement establishes a new mechanism for post-2020 global climate governance, and sets long-term goals for global response to climate change, which will accelerate worldwide low-carbon transformation of economic development pattern, promote the revolutionary reform of energy system, boost a fundamental change in the mode of social production and consumption, and further the civilization of human society from industrial civilization to eco-civilization. The urgency of global low-carbon transition will reshape the competition situation of world's economy, trade and technology. Taking the construction of eco-civilization as a guide, China explores green and low-carbon development paths, establishes ambitious intended nationally determined contribution (INDC targets and action plans, advances energy production and consumption revolution, and speeds up the transformation of economic development pattern. These strategies and actions not only confirm to the trend of the world low-carbon transition, but also meet the intrinsic requirements for easing the domestic resources and environment constraints and realizing sustainable development. They are multi-win-win strategies for promotion of economic development and environmental protection and mitigation of carbon emissions. China should take the global long-term emission reduction targets as a guide, and formulate medium and long-term low-carbon development strategy, build the core competitiveness of low-carbon advanced technology and development pattern, and take an in-depth part in global governance so as to reflect the responsibility of China as a great power in constructing a community of common destiny for all mankind and addressing global ecological crisis.

Substantial global carbon uptake by cement carbonation

OpenAIRE

Xi, Fengming; Davis, Steven J.; Ciais, Philippe; Crawford-Brown, Douglas; Guan, Dabo; Pade, Claus; Shi, Tiemao; Syddall, Mark; Lv, Jie; Ji, Lanzhu; Bing, Longfei; Wang, Jiaoyue; Wei, Wei; Yang, Keun-Hyeok; Lagerblad, Björn

2016-01-01

Calcination of carbonate rocks during the manufacture of cement produced 5% of global CO2 emissions from all industrial process and fossil-fuel combustion in 20131, 2. Considerable attention has been paid to quantifying these industrial process emissions from cement production2, 3, but the natural reversal of the process—carbonation—has received little attention in carbon cycle studies. Here, we use new and existing data on cement materials during cement service life, demolition, and secondar...

Malaysian diaspora strategies in a globalized Muslim market

DEFF Research Database (Denmark)

Fischer, Johan

2015-01-01

This paper explores Malaysia’s efforts to develop and dominate a global market in halal (literally, ‘lawful or ‘permitted’) commodities as a diaspora strategy and how Malaysian state institutions, entrepreneurs, restaurants and middle-class groups in London respond to and are affected...... and practise Malaysian diaspora strategies in the globalized market for halal products and services. This paper is based on ethnographic material from fieldwork among state institutions, entrepreneurs, restaurants and middle-class groups in Kuala Lumpur and London, namely participant observation...

The role of urbanization in the global carbon cycle

Directory of Open Access Journals (Sweden)

Galina eChurkina

2016-01-01

Full Text Available Urban areas account for more than 70% of CO2 emissions from burning fossil fuels. Urban expansion in tropics is responsible for 5% of the annual emissions from land use change. Here I show that the effect of urbanization on the global carbon cycle extends beyond these emissions. I quantify the contribution of urbanization to the major carbon fluxes and pools globally and identify gaps crucial for predicting the evolution of the carbon cycle in the future. Urban residents currently control ~22 (12-40 % of the land carbon uptake (112 PgC/yr and ~24 (15-39 % of the carbon emissions (117 PgC/yr from land globally. Urbanization resulted in the creation of new carbon pools on land such as buildings (~6.7 PgC and landfills (~30 PgC. Together these pools store 1.6 (±0.3 % of the total vegetation and soil carbon pools globally. The creation and maintenance of these new pools has been associated with high emissions of CO2, which are currently better understood than the processes associated with the dynamics of these pools and accompanying uptake of carbon. Predictions of the future trajectories of the global carbon cycle will require a much better understanding of how urban development affects the carbon cycle over the long term.

Making Education Markets through Global Trade Agreements

Science.gov (United States)

Robertson, Susan L.

2017-01-01

This paper uses the global trade negotiations and agreements, which include education sectors as potentially tradable services, to show the complex processes at work in making global education markets. Drawing on the work of Jens Beckert and others, I focus on the micro-processes of making capitalist orders and the challenges at hand in bringing…

Labor market deregulation and globalization: empirical evidence from OECD countries

OpenAIRE

Potrafke , Niklas

2010-01-01

Abstract This paper empirically investigates the influence of globalization on various aspects of labor market deregulation. I employ the data set by Bassanini and Duval (2006) on labor market institutions in OECD countries and the KOF index of globalization. The data set covers 20 OECD countries in the 1982?2003 period. The results suggest that globalization did neither influence the unemployment replacement rate, the unemployment benefit length, public expenditures on ALMP, the t...

Investing in Global Markets: Big Data and Applications of Robust Regression

Directory of Open Access Journals (Sweden)

John eGuerard

2016-02-01

Full Text Available In this analysis of the risk and return of stocks in global markets, we apply several applications of robust regression techniques in producing stock selection models and several optimization techniques in portfolio construction in global stock universes. We find that (1 the robust regression applications are appropriate for modeling stock returns in global markets; and (2 mean-variance techniques continue to produce portfolios capable of generating excess returns above transaction costs and statistically significant asset selection. We estimate expected return models in a global equity markets using a given stock selection model and generate statistically significant active returns from various portfolio construction techniques.

The Destructuring and Restructuring of Global Labor Markets

DEFF Research Database (Denmark)

Schmidt, Johannes Dragsbæk

in global labor markets and industrial relations. The third part situates more squarely the impact of globalization on the catching-up strategies of Russia and China, while the next section digs into the transformation of the industrial relations regimes in Russia and China in comparative perspective....... Finally, the paper rounds up by pointing to the main similarities and differences between industrial relations, work and labor market regulation in Russia and China, but also with implications for a broader context. In order to come to terms with the crisis of former socialist type societ...

Exploring how the carbon market could work for the poor | IDRC ...

International Development Research Centre (IDRC) Digital Library (Canada)

Exploring how the carbon market could work for the poor ... projects to the carbon market through the Clean Development Mechanism (CDM) might be a ... Financial barriers remain an obstacle to the full registration of this project to the CDM.

Intervening in global markets to improve access to HIV/AIDS treatment: an analysis of international policies and the dynamics of global antiretroviral medicines markets

Directory of Open Access Journals (Sweden)

Hochstadt Jenny

2010-05-01

Full Text Available Abstract Background Universal access to antiretroviral therapy (ART in low- and middle-income countries faces numerous challenges: increasing numbers of people needing ART, new guidelines recommending more expensive antiretroviral (ARV medicines, limited financing, and few fixed-dose combination (FDC products. Global initiatives aim to promote efficient global ARV markets, yet little is known about market dynamics and the impact of global policy interventions. Methods We utilize several data sources, including 12,958 donor-funded, adult first-line ARV purchase transactions, to describe the market from 2002-2008. We examine relationships between market trends and: World Health Organization (WHO HIV/AIDS treatment guidelines; WHO Prequalification Programme (WHO Prequal and United States (US Food and Drug Administration (FDA approvals; and procurement policies of the Global Fund to Fight AIDS, Tuberculosis, and Malaria (GFATM, US President's Emergency Plan for AIDS Relief (PEPFAR and UNITAID. Results WHO recommended 7, 4, 24, and 6 first-line regimens in 2002, 2003, 2006 and 2009 guidelines, respectively. 2009 guidelines replaced a stavudine-based regimen ($88/person/year with more expensive zidovudine- ($154-260/person/year or tenofovir-based ($244-465/person/year regimens. Purchase volumes for ARVs newly-recommended in 2006 (emtricitabine, tenofovir increased >15-fold from 2006 to 2008. Twenty-four generic FDCs were quality-approved for older regimens but only four for newer regimens. Generic FDCs were available to GFATM recipients in 2004 but to PEPFAR recipients only after FDA approval in 2006. Price trends for single-component generic medicines mirrored generic FDC prices. Two large-scale purchasers, PEPFAR and UNITAID, together accounted for 53%, 84%, and 77% of market volume for abacavir, emtricitabine, and tenofovir, respectively, in 2008. PEPFAR and UNITAID purchases were often split across two manufacturers. Conclusions Global initiatives

Evaluation of Effect of Global Economic Meltdown on Capital Market Performance

Directory of Open Access Journals (Sweden)

ONAOLAPO ADEKUNLE RAHMAN

2013-07-01

Full Text Available The recent financial crisis that loomed the global economy was considered more inclusive than any other period of financial turmoil in the past 60 years. This paper evaluates the implications of the global economic meltdown on the Nigerian Capital Market Performance using the market capitalization of the Nigerian Stock Exchange as a major indicator. When the global economic meltdown came, it poses a recession on the Market Capitalization and the volume of share index of the Nation. This study depends entirely on secondary data in form of annual aggregate time series data of Market capitalization (dependent variable, exchange rate, interest rate, inflation rate, market share index with Dummy variable to represent the period of economic crisis. Ordinary least square of multiple regressions was used to analyze the data into econometric model while F-statistics was used to test for the formulated hypothesis. This study depicts that the global economic meltdown has a negative effect on the Capital Market Performance. It was therefore recommended that the Federal government and the regulatory agencies (CBN, NSE, SEC etc. should come up with intervention and fiscal policies that will suppress these effects and jumpstart the capital market and that the policies should be properly implemented and monitored.

Wood pellet market and trade: A global perspective

NARCIS (Netherlands)

Goh, C.S.; Cocchi, M.; Junginger, H.M.; Marchal, D.; Thrän, D.; Hennig, C.; Heinimo, J.; Nikolaisen, L.; Schouwenberg, P.P.; Bradley, D.; Hess, R.F.; Jacobson, J.; Ovard, L.; Deutmeyer, M.

2013-01-01

This perspective provides an overview of wood pellet markets in a number of countries of high signifi cance, together with an inventory of market factors and relevant past or existing policies. In 2010, the estimated global wood pellet production and consumption were close to 14.3 Mt (million

Globalization and innovation in emerging markets

Czech Academy of Sciences Publication Activity Database

Gorodnichenko, Y.; Švejnar, Jan; Terrell, K.

-, č. 76 (2008), s. 1-39 ISSN N Institutional research plan: CEZ:AV0Z70850503 Keywords : globalization * innovation * emerging markets Subject RIV: AH - Economics http://deepblue.lib.umich.edu/bitstream/2027.42/61188/1/IPC-working-paper-076-GorodnichenkoSvejnarTerrell.pdf

Impact of the carbon price on the integrating European electricity market

International Nuclear Information System (INIS)

Aatola, Piia; Ollikainen, Markku; Toppinen, Anne

2013-01-01

We study the impact of the carbon price on the integrating electricity market in the EU. Our theoretical framework suggests that the price of carbon has a positive but uneven impact on electricity prices depending on the marginal production plant. The carbon price may increase price differences in the short run. We apply time series analysis on daily forward data from 2003 to 2011 and investigate whether we can find empirical evidence for our analytical findings. Our results support the hypotheses that integration in electricity prices has increased over time and that the carbon price has a positive but uneven impact on the integration of prices. - Highlights: • We model the integrating European electricity market under emissions trading scheme. • We examine the impact of carbon price on the electricity market prices. • We test theoretical hypotheses with econometric models. • Results show carbon price has a positive but uneven impact on electricity prices. • Integration among electricity prices has increased during 2003–2011

What moves the European carbon market? Insights from conditional jump models

Energy Technology Data Exchange (ETDEWEB)

Gronwald, Marc; Ketterer, Janina [Munich Univ. (Germany). Ifo Institute - Leibniz Institute for Economic Research

2012-04-15

This paper is concerned with carbon price volatility and the underlying causes of large price movements in the European emissions trading market. Based on the application of a combined jump-GARCH model the behavior of EUA prices is characterized. The jump- GARCH model explains the unsteady carbon price movement well and, moreover, shows that between 40 and 60 percent of the carbon price variance are triggered by jumps. Information regarding EUA supply and news from international carbon markets are identified as important drivers of these price spikes. These results can lead regulators the way if smoother carbon prices are desired.

The Evolution of Foreign Exchange Markets in the Context of Global Crisis

Directory of Open Access Journals (Sweden)

Mariana Trandafir

2011-12-01

Full Text Available The FX market is the world’s largest financial market. The global financial systeminvolves effective and efficient exchange of currencies. Corporations and investors participate in themarket for operational needs: to reduce risk by hedging currency exposures; to convert their returnsfrom international investments into domestic currencies and to make cross-border investments andraise finance outside home markets. Central banks participate in the market. This paper analyzesforeign exchange marketsactivity before and under the condition the global crisis. The method ofresearch is the comparative analysis used on the global and European level. The research is importantand actual because it reveals the changeswhich have defined a new paradigm forthe foreignexchange marketsand which contributed to the increasing of the global foreign exchange marketturnover during the global crisis. The main conclusion of the paper is that the innovativedevelopments in electronic trading technology and institutional trading arrangements are behind theevolution of the foreign exchange markets. The analysis is supported by statistical tables and uses therecent officialBank for International Settlements and European Central Bank statistic databases.

Tax regulating carbon market in Brazil: barriers and perspectives; Regulacao tributaria do mercado de carbono no Brasil: entraves e perspectivas

Energy Technology Data Exchange (ETDEWEB)

Marques, Fernando; Magalhaes, Gerusa [Madrona Hong Mazzuco Brandao - Sociedade de Advogados (MHM), Sao Paulo, SP (Brazil)], email: gerusa.magalhaes@mhmlaw.com.br; Parente, Virginia [Universidade de Sao Paulo (IEE/USP), SP (Brazil). Inst. de Eletrotecnica e Energia], email: vparente@iee.usp.br; Romeiro, Viviane [Universidade de Sao Paulo (USP), SP (Brazil)], email: viviromeiro@usp.br

2010-07-01

The world is moving towards a low carbon economy to fight global warming caused by increases in anthropogenic emissions of greenhouse gases (GHGs). The carbon market beckons as a promising opportunity for Brazil through Clean Development Mechanism (CDM) projects, which result in Certified Emission Reductions (CERs). Although Brazil is responsible for about 8% of all CDM projects in the world, there is still no specific tax regulation for CERs, thus hindering the development of carbon market in Brazil. It is essential that Brazil have a consistent internal framework which guarantees to potential investors a minimum security on the legal and fiscal operations of CERs. There are government institutions, considering the current law and that, given the number of bills being processed in Congress, are not definitive. Such bills have different understandings for the legal classification of CERs and the related tax treatment. This article supports an urgent need for a regulatory tax system for CERs, proposing a tax exemption on transactions involving CERs in order to encourage the effective development of carbon markets in Brazil in the context of the currently international legal system in which Kyoto Protocol is based. (author)

The global uranium market: supply and demand 1992-2010

International Nuclear Information System (INIS)

1994-06-01

This document looks at the supply of and demand for uranium on markets worldwide and covers the years 1992 to 2010. Uranium and nuclear fuel markets have become truly global with the inclusion of fuel cycle companies from Eastern Europe and the Commonwealth of Independent States (CIS) leading at the same time to additional supplies becoming available and new political constraints on uranium trading. This report includes new data from China, Eastern Europe and the CIS republics. As recycling plays on ever more important role, the global supply and demand balance for uranium and fuel services is altered. Prospects for nuclear power growth and for the uranium market in the next century remain uncertain. (UK)

Community Analysis of Global Financial Markets

Directory of Open Access Journals (Sweden)

Irena Vodenska

2016-05-01

Full Text Available We analyze the daily returns of stock market indices and currencies of 56 countries over the period of 2002–2012. We build a network model consisting of two layers, one being the stock market indices and the other the foreign exchange markets. Synchronous and lagged correlations are used as measures of connectivity and causality among different parts of the global economic system for two different time intervals: non-crisis (2002–2006 and crisis (2007–2012 periods. We study community formations within the network to understand the influences and vulnerabilities of specific countries or groups of countries. We observe different behavior of the cross correlations and communities for crisis vs. non-crisis periods. For example, the overall correlation of stock markets increases during crisis while the overall correlation in the foreign exchange market and the correlation between stock and foreign exchange markets decrease, which leads to different community structures. We observe that the euro, while being central during the relatively calm period, loses its dominant role during crisis. Furthermore we discover that the troubled Eurozone countries, Portugal, Italy, Greece and Spain, form their own cluster during the crisis period.

Swindling. The carbon market hackers; Arnaque - les pirates du marche carbone

Energy Technology Data Exchange (ETDEWEB)

Chandes, C.; James, O.

2011-02-15

The author briefly describes how hackers robbed millions of carbon credits by breaking data system security and entering national registers which contain all operations related to carbon credits. Few companies acknowledge that they have been victims of these robberies. These robbed credits are tracked by Europol and Interpol. These attacks are suspected to come from mafia networks in Israel, Pakistan, Italy and Romania, who took advantage of the credit market fragilities

Impact of global financial crisis on stylized facts between energy markets and stock markets

Science.gov (United States)

Leng, Tan Kim; Cheong, Chin Wen; Hooi, Tan Siow

2014-06-01

Understanding the stylized facts is extremely important and has becomes a hot issue nowadays. However, recent global financial crisis that started from United States had spread all over the world and adversely affected the commodities and financial sectors of both developed and developing countries. This paper tends to examine the impact of crisis on stylized facts between energy and stock markets using ARCH-family models based on the experience over 2008 global financial crisis. Empirical results denote that there is long lasting, persists and positively significant the autocorrelation function of absolute returns and their squares in both markets for before and during crisis. Besides that, leverage effects are found in stock markets whereby bad news has a greater impact on volatility than good news for both before and during crisis. However, crisis does not indicate any impact on risk-return tradeoff for both energy and stock markets. For forecasting evaluations, GARCH model and FIAPARCH model indicate superior out of sample forecasts for before and during crisis respectively.

The effect of global oil price shocks on China's metal markets

International Nuclear Information System (INIS)

Zhang, Chuanguo; Tu, Xiaohua

2016-01-01

This paper investigated the impacts of global oil price shocks on the whole metal market and two typical metal markets: copper and aluminum. We applied the autoregressive conditional jump intensity (ARJI) model, combining with the generalized conditional heteroscedasticity (GRACH) method, to describe the volatility process and jump behavior in the global oil market. We separated the oil price shocks into positive and negative parts, to analyze whether oil price volatility had symmetric impacts on China’s metal markets. We further used the likelihood ratio test to examine the symmetric effect of oil price shocks. In addition, we considered the jump behavior in oil prices as an input factor to investigate how China’s metal markets are affected when jumps occur in the global oil market, in contrast to the existing research paying little attention to this issue. Our results indicate that crude oil price shocks have significant impacts on China's metal markets and the impacts are symmetric. When compared with aluminum, copper is more easily affected by oil price shocks. - Highlights: • We investigated the effect of oil price shocks on China’s metal markets. • The oil price shocks had significant impacts on China's metal markets • The oil price shocks on China's metal markets were symmetric. • Copper is more easily affected by oil price shocks than aluminum.

Carbon flows, financial markets and climate change mitigation

NARCIS (Netherlands)

Mol, A.P.J.

2012-01-01

After initial debates and controversies, from the late 1980s onwards market instruments became fully accepted in environmental governance. However, with their inclusion in transnational and global environmental governance, market institutions seem to be in for a new round of discussions.

Model-based synthesis of locally contingent responses to global market signals

Science.gov (United States)

Magliocca, N. R.

2015-12-01

Rural livelihoods and the land systems on which they depend are increasingly influenced by distant markets through economic globalization. Place-based analyses of land and livelihood system sustainability must then consider both proximate and distant influences on local decision-making. Thus, advancing land change theory in the context of economic globalization calls for a systematic understanding of the general processes as well as local contingencies shaping local responses to global signals. Synthesis of insights from place-based case studies of land and livelihood change is a path forward for developing such systematic knowledge. This paper introduces a model-based synthesis approach to investigating the influence of local socio-environmental and agent-level factors in mediating land-use and livelihood responses to changing global market signals. A generalized agent-based modeling framework is applied to six case-study sites that differ in environmental conditions, market access and influence, and livelihood settings. The largest modeled land conversions and livelihood transitions to market-oriented production occurred in sties with relatively productive agricultural land and/or with limited livelihood options. Experimental shifts in the distributions of agents' risk tolerances generally acted to attenuate or amplify responses to changes in global market signals. Importantly, however, responses of agents at different points in the risk tolerance distribution varied widely, with the wealth gap growing wider between agents with higher or lower risk tolerance. These results demonstrate model-based synthesis is a promising approach to overcome many of the challenges of current synthesis methods in land change science, and to identify generalized as well as locally contingent responses to global market signals.

Global marketing of cholesterol-lowering drugs as therapy.

Science.gov (United States)

Elimimian, Jonathan U; Gilmore, James M; Singletary, Tony J

2006-01-01

Pharmaceutical marketing services (PMS) are a key component of pharmaceutical companies' marketing strategies in that they create links between the pharmaceutical company and the physician. They are is also a link between physician and patients locally and globally. PMS discussed in this paper provide various services from tangible to intangible products in order to increase the physicians and pharmacists prescribing activities of their treatment modalities. Given the high cost of recruiting, training, and supporting PMS global marketing efforts, it is important for PMS channels to understand the significance of pharmaceutical multinational companies to ascribe to prescription drug services provided in Thailand. This created the unique marketing environment for the pharmaceutical companies. This study examines whether there is a gap in the existing cholesterol-lowering medication prescribed by physicians in Thailand and the newly introduced brand to the U.S. market. The degree of the new product adoption is analyzed through physician prescription frequency and records. Results of the study indicate there is significant improvement in the health conditions of the users of the new cholesterol medication among Thailand patients. Physicians in Thailand were, however, faced with competing brands in the market due to aggressiveness of advertising and promotion by multinational pharmaceutical marketing and manufacturers Associations. Perceived value and benefit to users were significant outcome of the study. More diagnostic and prescriptive research is recommended to cover Southeast Asia and other parts of the developing countries.

HOW AFFECTED WAS WORLD INSURANCE MARKET BY GLOBAL CRISIS?

Directory of Open Access Journals (Sweden)

ANA PREDA

2013-12-01

Full Text Available Global economic and financial crisis triggered in 2008 had a significant impact with effects in economical life worldwide. Insurance industry wasn't spared but was less affected than other sectors of the world economy. The aim of the present paper is to underline the main crisis effects on global insurance market through a comparative study between different regions from the world, taking into consideration the main indicators which give us an insurance market dimension, such as: gross premium volume, insurance density and insurance penetration.

NAMAs and the carbon market. Nationally appropriate mitigation actions of developing countries

Energy Technology Data Exchange (ETDEWEB)

Holm Olsen, K.; Fenhann, J.; Hinostroza, M.

2009-07-01

The role of carbon markets in scaling up mitigation actions in developing countries in the post-2012 climate regime is the topic of Perspectives 2009: NAMAs and the Carbon Market - Nationally Appropriate Mitigation Actions of Developing Countries. The eight papers presented explore how mitigation actions in developing countries, in the context of sustainable development, may be supported by technology, finance and capacity development in a measurable, reportable and verifiable manner. Key issues discussed are the pros and cons of market and non-market mechanisms in raising private and public finance, and the appropriate governance structures at the international and national levels. The aim of this publication is to present possible answers to these questions, with a specific focus on the role of existing and emerging carbon markets to finance NAMAs. (LN)

Globalizing carbon lock-in

International Nuclear Information System (INIS)

Unruh, Gregory C.; Carrillo-Hermosilla, Javier

2006-01-01

This paper extends the arguments surrounding carbon lock-in elaborated in Unruh (Energy Policy 28 (2000) 817; 30 (2002) 317) to countries currently undergoing industrialization. It argues that, for numerous reasons, industrializing countries are unlikely to leapfrog carbon intensive energy development. On the contrary, carbon lock-in may be globalizing and could further constrain climate change mitigation options. It is then argued that many policy recommendations ignore carbon lock-in, possibly limiting their potential for successful implementation. The paper then discusses four policy approaches that appear to have advantages given lock-in conditions. It is recognized, however, that relative ease of implementation does not necessarily equate with superiority. Instead, it is merely a path dependent outcome of past development decisions. Pursuing policies on the basis of relative implementation ease may help address the issue of climate change, but could also result in sub-optimal outcomes along other dimensions of sustainable development

The creation of a global electricity market

International Nuclear Information System (INIS)

DePinto, D.; Anderson, A.

1998-01-01

The global embrace of market-based economics has led to significant growth and prosperity resulting in increased needs for electricity. The burgeoning demand for energy has created requirements for capital investment at time when the state-owned energy companies cannot provide it. Governments, busy trying to find ways to manage already inflated debt burdens, have little capacity for funding the capital needed to expand energy production. In these strategic industries, governments are beginning to embrace the principles of free market capitalism and private ownership, recognizing the significant benefits to be realized: reduced national deficits, a more efficient energy sector, access to foreign capital, greater internal capital generation, and more energy to fuel economic growth. This is driving the governments to embrace privatization and is creating a market for the sale of electric utilities. On the other side of this equation are the fast developing global electric companies that are prepared to expand in both developing and developed countries through significant acquisitions of either companies or strategic assets. This scenario is further enhanced as the Independent Power Developers chase projects from Brazil to China and bring competition to the development of new generation. Never before has there been such a movement to the complete transformation of the energy industry. Countries on every continent are exploring how they can reform and restructure the energy sector. The analysis will address: Global transformation sweeping the various regions of the world; Impact on developers and the strategy required for success; Global electric companies and their impact on the transformation process; and Future of the electric power industry: Will it bring the world closer together?

Global Market Entry Strategy and Point-A Perspective of Chinese Pharmaceutical Enterprise

Institute of Scientific and Technical Information of China (English)

TonyZhang

2003-01-01

After joining WTO, China will not only open its door wider to foreign investment and operations in Chinese market, but also play an increasing role in global market. However, unlike many other Chinese industries that are already major suppliers or producers of consumer products at global market, majority of pharmaceutical enterprises in China remain domestic operations. Today there are still major obstacles for Chinese pharmaceutical enterprises to overcome in entering key markets such as US and Europe.

Modelling and analysis of global coal markets

International Nuclear Information System (INIS)

Trueby, Johannes

2013-01-01

International Steam Coal Trade. In this paper, we analyse steam coal market equilibria in the years 2006 and 2008 by testing for two possible market structure scenarios: perfect competition and an oligopoly setup with major exporters competing in quantities. The assumed oligopoly scenario cannot explain market equilibria for any year. While we find that the competitive model simulates market equilibria well in 2006, the competitive model is not able to reproduce real market outcomes in 2008. The analysis shows that not all available supply capacity was utilised in 2008. We conclude that either unknown capacity bottlenecks or more sophisticated non-competitive strategies were the cause for the high prices in 2008. Chapter 4 builds upon the findings of the analysis in chapter 3 and adds a more detailed representation of domestic markets. The corresponding essay is titled Nations as Strategic Players in Global Commodity Markets: Evidence from World Coal Trade. In this chapter we explore the hypothesis that export policies and trade patterns of national players in the steam coal market are consistent with non-competitive market behaviour. We test this hypothesis by developing a static equilibrium model which is able to model coal producing nations as strategic players. We explicitly account for integrated seaborne trade and domestic markets. The global steam coal market is simulated under several imperfect market structure setups. We find that trade and prices of a China - Indonesia duopoly fits the real market outcome best and that real Chinese export quotas in 2008 were consistent with simulated exports under a Cournot-Nash strategy. Chapter 5 looks at the long-term effect of Chinese energy system planning decisions. The time horizon is 2006 to 2030. The analysis in this chapter combines a dynamic equilibrium model with the scenario analysis technique. The corresponding essay is titled Coal Lumps vs. Electrons: How Do Chinese Bulk Energy Transport Decisions Affect the Global

Modelling and analysis of global coal markets

Energy Technology Data Exchange (ETDEWEB)

Trueby, Johannes

2013-01-17

International Steam Coal Trade. In this paper, we analyse steam coal market equilibria in the years 2006 and 2008 by testing for two possible market structure scenarios: perfect competition and an oligopoly setup with major exporters competing in quantities. The assumed oligopoly scenario cannot explain market equilibria for any year. While we find that the competitive model simulates market equilibria well in 2006, the competitive model is not able to reproduce real market outcomes in 2008. The analysis shows that not all available supply capacity was utilised in 2008. We conclude that either unknown capacity bottlenecks or more sophisticated non-competitive strategies were the cause for the high prices in 2008. Chapter 4 builds upon the findings of the analysis in chapter 3 and adds a more detailed representation of domestic markets. The corresponding essay is titled Nations as Strategic Players in Global Commodity Markets: Evidence from World Coal Trade. In this chapter we explore the hypothesis that export policies and trade patterns of national players in the steam coal market are consistent with non-competitive market behaviour. We test this hypothesis by developing a static equilibrium model which is able to model coal producing nations as strategic players. We explicitly account for integrated seaborne trade and domestic markets. The global steam coal market is simulated under several imperfect market structure setups. We find that trade and prices of a China - Indonesia duopoly fits the real market outcome best and that real Chinese export quotas in 2008 were consistent with simulated exports under a Cournot-Nash strategy. Chapter 5 looks at the long-term effect of Chinese energy system planning decisions. The time horizon is 2006 to 2030. The analysis in this chapter combines a dynamic equilibrium model with the scenario analysis technique. The corresponding essay is titled Coal Lumps vs. Electrons: How Do Chinese Bulk Energy Transport Decisions Affect the Global

Strategic closed-loop facility location problem with carbon market trading

DEFF Research Database (Denmark)

Diabat, A.; Abdallah, T.; Al-Refaie, A.

2013-01-01

and recovery of products in a closed-loop configuration. Remanufacturing is the basis of profit-oriented reverse logistics in which recovered products are restored to a marketable condition in order to be resold to the primary or secondary market. In this paper, we introduce a multiechelon multicommodity...... facility location problem with a trading price of carbon emissions and a cost of procurement. The company might either incur costs if the carbon cap, normally assigned by regulatory agencies, is lower than the total emissions, or gain profit if the carbon cap is higher than the total emissions. A numerical...

Quantifying global soil carbon losses in response to warming.

Science.gov (United States)

Crowther, T W; Todd-Brown, K E O; Rowe, C W; Wieder, W R; Carey, J C; Machmuller, M B; Snoek, B L; Fang, S; Zhou, G; Allison, S D; Blair, J M; Bridgham, S D; Burton, A J; Carrillo, Y; Reich, P B; Clark, J S; Classen, A T; Dijkstra, F A; Elberling, B; Emmett, B A; Estiarte, M; Frey, S D; Guo, J; Harte, J; Jiang, L; Johnson, B R; Kröel-Dulay, G; Larsen, K S; Laudon, H; Lavallee, J M; Luo, Y; Lupascu, M; Ma, L N; Marhan, S; Michelsen, A; Mohan, J; Niu, S; Pendall, E; Peñuelas, J; Pfeifer-Meister, L; Poll, C; Reinsch, S; Reynolds, L L; Schmidt, I K; Sistla, S; Sokol, N W; Templer, P H; Treseder, K K; Welker, J M; Bradford, M A

2016-11-30

The majority of the Earth's terrestrial carbon is stored in the soil. If anthropogenic warming stimulates the loss of this carbon to the atmosphere, it could drive further planetary warming. Despite evidence that warming enhances carbon fluxes to and from the soil, the net global balance between these responses remains uncertain. Here we present a comprehensive analysis of warming-induced changes in soil carbon stocks by assembling data from 49 field experiments located across North America, Europe and Asia. We find that the effects of warming are contingent on the size of the initial soil carbon stock, with considerable losses occurring in high-latitude areas. By extrapolating this empirical relationship to the global scale, we provide estimates of soil carbon sensitivity to warming that may help to constrain Earth system model projections. Our empirical relationship suggests that global soil carbon stocks in the upper soil horizons will fall by 30 ± 30 petagrams of carbon to 203 ± 161 petagrams of carbon under one degree of warming, depending on the rate at which the effects of warming are realized. Under the conservative assumption that the response of soil carbon to warming occurs within a year, a business-as-usual climate scenario would drive the loss of 55 ± 50 petagrams of carbon from the upper soil horizons by 2050. This value is around 12-17 per cent of the expected anthropogenic emissions over this period. Despite the considerable uncertainty in our estimates, the direction of the global soil carbon response is consistent across all scenarios. This provides strong empirical support for the idea that rising temperatures will stimulate the net loss of soil carbon to the atmosphere, driving a positive land carbon-climate feedback that could accelerate climate change.

Global socioeconomic carbon stocks in long-lived products 1900-2008

Science.gov (United States)

Lauk, Christian; Haberl, Helmut; Erb, Karl-Heinz; Gingrich, Simone; Krausmann, Fridolin

2012-09-01

A better understanding of the global carbon cycle as well as of climate change mitigation options such as carbon sequestration requires the quantification of natural and socioeconomic stocks and flows of carbon. A so-far under-researched aspect of the global carbon budget is the accumulation of carbon in long-lived products such as buildings and furniture. We present a comprehensive assessment of global socioeconomic carbon stocks and the corresponding in- and outflows during the period 1900-2008. These data allowed calculation of the annual carbon sink in socioeconomic stocks during this period. The study covers the most important socioeconomic carbon fractions, i.e. wood, bitumen, plastic and cereals. Our assessment was mainly based on production and consumption data for plastic, bitumen and wood products and the respective fractions remaining in stocks in any given year. Global socioeconomic carbon stocks were 2.3 GtC in 1900 and increased to 11.5 GtC in 2008. The share of wood in total C stocks fell from 97% in 1900 to 60% in 2008, while the shares of plastic and bitumen increased to 16% and 22%, respectively. The rate of gross carbon sequestration in socioeconomic stocks increased from 17 MtC yr-1 in 1900 to a maximum of 247 MtC yr-1 in 2007, corresponding to 2.2%-3.4% of global fossil-fuel-related carbon emissions. We conclude that while socioeconomic carbon stocks are not negligible, their growth over time is not a major climate change mitigation option and there is an only modest potential to mitigate climate change by the increase of socioeconomic carbon stocks.

Family forest owners in the redwood region: management priorities and opportunities in a carbon market

Science.gov (United States)

Erin Clover Kelly; Joanna Di Tommaso; Arielle Weisgrau

2017-01-01

California’s cap-and-trade carbon market has included forest offset projects, available to all private landowners across the United States. The redwood region has been at the forefront of the market, creating the earliest forest carbon projects. From carbon registries, we compiled a database of all forest carbon projects in the market, in order to determine...

Global controls on carbon storage in mangrove soils

Science.gov (United States)

Rovai, André S.; Twilley, Robert R.; Castañeda-Moya, Edward; Riul, Pablo; Cifuentes-Jara, Miguel; Manrow-Villalobos, Marilyn; Horta, Paulo A.; Simonassi, José C.; Fonseca, Alessandra L.; Pagliosa, Paulo R.

2018-06-01

Global-scale variation in mangrove ecosystem properties has been explained using a conceptual framework linking geomorphological processes to distinct coastal environmental settings (CES) for nearly 50 years. However, these assumptions have not been empirically tested at the global scale. Here, we show that CES account for global variability in mangrove soil C:N:P stoichiometry and soil organic carbon (SOC) stocks. Using this ecogeomorphology framework, we developed a global model that captures variation in mangrove SOC stocks compatible with distinct CES. We show that mangrove SOC stocks have been underestimated by up to 50% (a difference of roughly 200 Mg ha-1) in carbonate settings and overestimated by up to 86% (around 400 Mg ha-1) in deltaic coastlines. Moreover, we provide information for 57 nations that currently lack SOC data, enabling these and other countries to develop or evaluate their blue carbon inventories.

Labour Markets Trends, Financial Globalization and the current crisis in Developing Countries

NARCIS (Netherlands)

R.E. van der Hoeven (Rolph)

2010-01-01

textabstractThe current wave of globalization has profound labour market effects, accentuated, in many cases, by the current financial and economic crisis. This paper reviews general labour market trends and country examples, arguing that the current globalization process makes labour’s position

TOURISM MARKETING - KEY CONCEPT OF TOURISM IN A WORLD OF GLOBALIZATION

OpenAIRE

STOICA Ana-Maria; CRETOIU Raluca Ionela

2012-01-01

The latest trends in tourism emphasize the power of the globalized tourist-consumer, in the context of mondialisation of the market and of the diversity of tourism services, the tourism organizations must answer to a range of different tourism motivations meant to meet the needs and wishes of the tourism consumers over the period they travel for. Tourism marketing is a result of globalization, since, just like the globalization process, it creates links between the states of the world, the au...

Prospects for global market expansion of China’s wind turbine manufacturing industry

International Nuclear Information System (INIS)

Gosens, Jorrit; Lu, Yonglong

2014-01-01

Emerging economies are increasingly contributing to global innovation, including clean-tech innovation. The development of China’s wind power sector has often been used to illustrate this point. China’s domestic wind power market is the largest in the world and is largely supplied by domestic manufacturers. Competition for market share in the domestic market may pressure firms to innovate, which consecutively improves prospects for global expansion. This paper reviews developments in China’s domestic wind turbine market using the Technological Innovation System framework. We analyze the pressure to innovate arising from market competition and assess the prospects for global expansion of Chinese wind turbine manufacturers. We conclude that domestic customers are not pressured or incentivized to perform with respect to power output, such that turbine manufacturers are not pressured to perform with respect to turbine efficiency or maintenance needs. Pressure to innovate is further reduced by formalizing connections between wind farm developers and turbine manufacturers. Chinese turbine manufacturers cannot yet compete with leading global brands in technological leadership. The prospects for exports are improved, however, by the preferential supply of project financing from institutional investors, such as the China Development Bank, from Chinese utilities that seek global expansion and from the manufacturers themselves. - Highlights: • We assess the pressure to innovate in the Chinese wind turbine market. • Customer demand is focused more strongly on turbine cost than quality. • Formalizing connections between users and suppliers reduce pressure to innovate. • Chinese manufacturers cannot yet compete globally in technological quality. • Preferential supplies of project finance may provide a vehicle for exports

China and the global uranium market: prospects for peaceful coexistence.

Science.gov (United States)

Massot, Pascale; Chen, Zhan-Ming

2013-01-01

China's recent reemergence has resulted in a significant increase in the global demand of commodities and is already having major impacts on the dynamics of global commodity markets. In the case of the global uranium market, we stand at the very beginning of a period of change. However, interesting trends are already emerging. Whereas China has had many policy reversals, and some difficulties in taking control of its procurement strategy in other commodity markets, it is seemingly more successful in managing its uranium procurement strategy. Why? The argument presented here is that a mixture of domestic and international level variables has allowed China more room for maneuver in fulfilling its uranium procurement strategy. On the domestic level, a centralized industry, and, on the international level, a geographically dispersed and uncoordinated market have allowed China to forge ahead with an ambitious civilian nuclear power plan and triple its total uranium imports, all within the span of a few years. Many challenges remain, not the least that of negative public opinion, which has surged since the Fukushima disaster in 2011. Nevertheless, should uranium demand continue to grow, this paper will consider the potential for continued peaceful coexistence among uranium market participants worldwide.

Carbon taxation and market structure: A CGE analysis for Russia

International Nuclear Information System (INIS)

Orlov, Anton; Grethe, Harald

2012-01-01

Russia is one of the world's major sources of carbon based energy as well as one its most intensive users. Introducing carbon taxes can lead to a reduction in emissions and encourage investment in energy efficiency. We investigate the economic effects of carbon taxes on the Russian economy under perfect competition and a Cournot oligopoly in output markets. The main findings are: (i) substituting carbon taxes for labour taxes can yield a strong double dividend in Russia; however, welfare gains strongly depend on the labour supply elasticity and elasticities of substitution between capital, labour, and energy. (ii) Under the assumption of a Cournot oligopoly with homogenous products and symmetric firms in the markets for natural gas, petroleum and chemical products, metals, and minerals, welfare costs of the environmental tax reform can be higher than under perfect competition. This is because introducing carbon taxes leads to a reduction in already sub-optimal output, thereby exacerbating pre-existing distortions arising from imperfect competition. (iii) Furthermore, increases in energy costs can result in higher mark-ups in some markets because of less competition resulting from firms' exit. - Highlights: ► Substituting carbon taxes for labour taxes in Russia can yield a double dividend. ► The labour supply elasticity and substitution possibilities between factors are crucial. ► Introducing carbon taxes can exacerbate distortions from imperfect competition. ► Increases in energy costs result in higher mark-ups because of less competition.

Global Carbon-and-Conservation Models, Global Eco-States? Ecuador’s Yasuní-ITT Initiative and Governance Implications

Directory of Open Access Journals (Sweden)

Conny Davidsen

2013-05-01

Full Text Available The “global carbon age” marks a structural change far beyond the economic realms of implementing carbon trade, affecting the fabric of global environmental governance and its actors. Carbon trade and conservation in the Global South have taken on various forms, and climate change mitigation efforts in light of continued rainforest deforestation are scrambling to establish effective approaches. Ecuador’s Yasuní-ITT Initiative proposes a new global carbon-and-conservation model in the Ecuadorian Amazon that leaves oil reserves of the Yasuní Ishpingo Tambococha Tiputini (ITT oil fields underground, in exchange for international compensation payments that would be based on voluntary contributions of governments and nongovernmental actors in an international conservation partnership and trust fund under the auspices of the United Nations Development Programme. This model suggests far-reaching consequences, as it introduces new global scales for the sharing and management of environmental costs within a framework of neoliberal cost internalization. The analysis in this paper uses the concept of the “ecological state” (Duit, 2008 as a theoretical point of departure to examine the trans-scalar implications of such a carbon-and-conservation model on global governance structures toward a “global ecological state” (or global eco-state.

Global competition and the labour market

CERN Document Server

Driffield, Nigel

2003-01-01

This study combines an industry level and a firm level analysis on the wage and employment effects of multinational companies. This has not been attempted in any previous work. In view of the results, important questions are raised regarding how global changes in the structure of production may affect labour markets and the organisation of work in the future.

Seagrass meadows as a globally significant carbonate reservoir

KAUST Repository

Mazarrasa, I.; Marbà , N.; Lovelock, C. E.; Serrano, O.; Lavery, P. S.; Fourqurean, J. W.; Kennedy, H.; Mateo, M. A.; Krause-Jensen, D.; Steven, A. D. L.; Duarte, Carlos M.

2015-01-01

There has been growing interest in quantifying the capacity of seagrass ecosystems to act as carbon sinks as a natural way of offsetting anthropogenic carbon emissions to the atmosphere. However, most of the efforts have focused on the particulate organic carbon (POC) stocks and accumulation rates and ignored the particulate inorganic carbon (PIC) fraction, despite important carbonate pools associated with calcifying organisms inhabiting the meadows, such as epiphytes and benthic invertebrates, and despite the relevance that carbonate precipitation and dissolution processes have in the global carbon cycle. This study offers the first assessment of the global PIC stocks in seagrass sediments using a synthesis of published and unpublished data on sediment carbonate concentration from 403 vegetated and 34 adjacent un-vegetated sites. PIC stocks in the top 1 m of sediment ranged between 3 and 1660 Mg PIC ha⁻¹, with an average of 654 ± 24 Mg PIC ha⁻¹, exceeding those of POC reported in previous studies by about a factor of 5. Sedimentary carbonate stocks varied across seagrass communities, with meadows dominated by Halodule, Thalassia or Cymodocea supporting the highest PIC stocks, and tended to decrease polewards at a rate of −8 ± 2 Mg PIC ha⁻¹ per degree of latitude (general linear model, GLM; p < 0.0003). Using PIC concentrations and estimates of sediment accretion in seagrass meadows, the mean PIC accumulation rate in seagrass sediments is found to be 126.3 ± 31.05 g PIC m⁻² yr⁻¹. Based on the global extent of seagrass meadows (177 000 to 600 000 km²), these ecosystems globally store between 11 and 39 Pg of PIC in the top metre of sediment and accumulate between 22 and 75 Tg PIC yr⁻¹, representing a significant contribution to the carbonate dynamics of coastal areas. Despite the fact that these high rates of carbonate accumulation imply CO₂

Seagrass meadows as a globally significant carbonate reservoir

KAUST Repository

Mazarrasa, I.

2015-08-24

There has been growing interest in quantifying the capacity of seagrass ecosystems to act as carbon sinks as a natural way of offsetting anthropogenic carbon emissions to the atmosphere. However, most of the efforts have focused on the particulate organic carbon (POC) stocks and accumulation rates and ignored the particulate inorganic carbon (PIC) fraction, despite important carbonate pools associated with calcifying organisms inhabiting the meadows, such as epiphytes and benthic invertebrates, and despite the relevance that carbonate precipitation and dissolution processes have in the global carbon cycle. This study offers the first assessment of the global PIC stocks in seagrass sediments using a synthesis of published and unpublished data on sediment carbonate concentration from 403 vegetated and 34 adjacent un-vegetated sites. PIC stocks in the top 1 m of sediment ranged between 3 and 1660 Mg PIC ha⁻¹, with an average of 654 ± 24 Mg PIC ha⁻¹, exceeding those of POC reported in previous studies by about a factor of 5. Sedimentary carbonate stocks varied across seagrass communities, with meadows dominated by Halodule, Thalassia or Cymodocea supporting the highest PIC stocks, and tended to decrease polewards at a rate of −8 ± 2 Mg PIC ha⁻¹ per degree of latitude (general linear model, GLM; p < 0.0003). Using PIC concentrations and estimates of sediment accretion in seagrass meadows, the mean PIC accumulation rate in seagrass sediments is found to be 126.3 ± 31.05 g PIC m⁻² yr⁻¹. Based on the global extent of seagrass meadows (177 000 to 600 000 km²), these ecosystems globally store between 11 and 39 Pg of PIC in the top metre of sediment and accumulate between 22 and 75 Tg PIC yr⁻¹, representing a significant contribution to the carbonate dynamics of coastal areas. Despite the fact that these high rates of carbonate accumulation imply CO₂

The carbon market puzzle

International Nuclear Information System (INIS)

Perthuis, Ch. de

2008-01-01

The kyoto protocol forces the developed countries which ratify it to reduce their greenhouse effect gases emissions. The reductions cost is decreased by the clean development mechanisms: the carbon markets. That is why the protocol implementation will not have a major effect on the evolution of the greenhouse effect gases for 2012. The author presents the situation and discusses the economic tools of the Kyoto protocol, the european system of quotas, the clean development mechanisms and the impacts on a future and more ambitious climatic agreement. (A.L.B.)

Global thermal coal trade outlook

International Nuclear Information System (INIS)

Ewart, E.

2008-01-01

Wood Mackenzie operates coal consulting offices in several cities around the world and is the number one consulting company in terms of global coal coverage. The company offers a unique mine-by-mine research methodology, and owns a proprietary modeling system for coal and power market forecasting. This presentation provided an overview of global thermal markets as well as recent market trends. Seaborne markets have an impact on price far greater than the volume of trade would imply. Research has also demonstrated that the global thermal coal market is divided between the Pacific and Atlantic Basins. The current status of several major coal exporting countries such as Canada, the United States, Venezuela, Colombia, Indonesia, Australia, China, South Africa, and Russia was displayed in an illustration. The presentation included several graphs indicating that the seaborne thermal coal market is highly concentrated; traditional coal flow and pricing trends shift as Asian demand growth and supply constraints lead to chronic under supply; coal prices have risen to historic highs in recent times; and, the Asian power sector demand is a major driver of future growth. The correlation between oil and gas markets to thermal coal was illustrated along with two scenarios of coal use in the United States in a carbon-constrained world. The impact of carbon legislation on coal demand from selected coal regions in the United States was also discussed. Wood Mackenzie forecasts a very strong growth in global thermal coal demand, driven largely by emerging Asian economies. tabs., figs

EU effect: Exporting emission standards for vehicles through the global market economy.

Science.gov (United States)

Crippa, M; Janssens-Maenhout, G; Guizzardi, D; Galmarini, S

2016-12-01

Emission data from EDGAR (Emissions Database for Global Atmospheric Research), rather than economic data, are used to estimate the effect of policies and of the global exports of policy-regulated goods, such as vehicles, on global emissions. The results clearly show that the adoption of emission standards for the road transport sector in the two main global markets (Europe and North America) has led to the global proliferation of emission-regulated vehicles through exports, regardless the domestic regulation in the country of destination. It is in fact more economically convenient for vehicle manufacturers to produce and sell a standard product to the widest possible market and in the greatest possible amounts. The EU effect (European Union effect) is introduced as a global counterpart to the California effect. The former is a direct consequence of the penetration of the EURO standards in the global markets by European and Japanese manufacturers, which effectively export the standard worldwide. We analyze the effect on PM 2.5 emissions by comparing a scenario of non-EURO standards against the current estimates provided by EDGAR. We find that PM 2.5 emissions were reduced by more than 60% since the 1990s worldwide. Similar investigations on other pollutants confirm the hypothesis that the combined effect of technological regulations and their diffusion through global markets can also produce a positive effect on the global environment. While we acknowledge the positive feedback, we also demonstrate that current efforts and standards will be totally insufficient should the passenger car fleets in emerging markets reach Western per capita figures. If emerging countries reach the per capita vehicle number of the USA and Europe under current technological conditions, then the world will suffer pre-1990 emission levels. Copyright © 2016 Elsevier Ltd. All rights reserved.

What role will climate change play in EU agricultural markets? An integrated assessment taking into account carbon fertilization effects

Energy Technology Data Exchange (ETDEWEB)

Martinez, P.; Blanco, M.; Van Doorslaer, B.; Ramos, F.; Ceglar, A.

2017-07-01

Recent studies point to climate change being one of the long-term drivers of agricultural market uncertainty. To advance in the understanding of the influence of climate change on future agricultural market developments, we compared a baseline scenario for the year 2030 with alternative simulation scenarios that differ regarding: (1) emission scenarios; (2) climate projections; and (3) the consideration of carbon fertilization effects on crop growth. For each simulation scenario, the CAPRI model provides global and EU-wide impacts of climate change on agricultural markets. Results showed that climate change would considerably affect agrifood markets up to 2030. Nevertheless, market-driven adaptation strategies (production intensification, trade adjustments) would soften the impact of yield shocks on supply and demand. As a result, regional changes in production would be lower than foreseen by other studies focused on supply effects.

What role will climate change play in EU agricultural markets? An integrated assessment taking into account carbon fertilization effects

International Nuclear Information System (INIS)

Martinez, P.; Blanco, M.; Van Doorslaer, B.; Ramos, F.; Ceglar, A.

2017-01-01

Recent studies point to climate change being one of the long-term drivers of agricultural market uncertainty. To advance in the understanding of the influence of climate change on future agricultural market developments, we compared a baseline scenario for the year 2030 with alternative simulation scenarios that differ regarding: (1) emission scenarios; (2) climate projections; and (3) the consideration of carbon fertilization effects on crop growth. For each simulation scenario, the CAPRI model provides global and EU-wide impacts of climate change on agricultural markets. Results showed that climate change would considerably affect agrifood markets up to 2030. Nevertheless, market-driven adaptation strategies (production intensification, trade adjustments) would soften the impact of yield shocks on supply and demand. As a result, regional changes in production would be lower than foreseen by other studies focused on supply effects.

Global carbon sequestration in tidal, saline wetland soils

Science.gov (United States)

Chmura, G.L.; Anisfeld, S.C.; Cahoon, D.R.; Lynch, J.C.

2003-01-01

Wetlands represent the largest component of the terrestrial biological carbon pool and thus play an important role in global carbon cycles. Most global carbon budgets, however, have focused on dry land ecosystems that extend over large areas and have not accounted for the many small, scattered carbon-storing ecosystems such as tidal saline wetlands. We compiled data for 154 sites in mangroves and salt marshes from the western and eastern Atlantic and Pacific coasts, as well as the Indian Ocean, Mediterranean Ocean, and Gulf of Mexico. The set of sites spans a latitudinal range from 22.4??S in the Indian Ocean to 55.5??N in the northeastern Atlantic. The average soil carbon density of mangrove swamps (0.055 ?? 0.004 g cm-3) is significantly higher than the salt marsh average (0.039 ?? 0.003 g cm-3). Soil carbon density in mangrove swamps and Spartina patens marshes declines with increasing average annual temperature, probably due to increased decay rates at higher temperatures. In contrast, carbon sequestration rates were not significantly different between mangrove swamps and salt marshes. Variability in sediment accumulation rates within marshes is a major control of carbon sequestration rates masking any relationship with climatic parameters. Globally, these combined wetlands store at least 44.6 Tg C yr-1 and probably more, as detailed areal inventories are not available for salt marshes in China and South America. Much attention has been given to the role of freshwater wetlands, particularly northern peatlands, as carbon sinks. In contrast to peatlands, salt marshes and mangroves release negligible amounts of greenhouse gases and store more carbon per unit area. Copyright 2003 by the American Geophysical Union.

Carbon and environmental footprinting of global biofuel production

OpenAIRE

Hammond, Geoff P.; Seth, S.M.

2013-01-01

The carbon and environmental footprints associated with the global production of biofuels have been computed from a baseline of 2007-2009 out until 2019. Estimates of future global biofuel production were adopted from OECD-FAO and related projections. In order to determine the footprints associated with these (essentially 'first generation') biofuel resources, the overall environmental footprint was disaggregated into bioproductive land, built land, carbon, embodied energy, materials and wast...

THE EFFECTS OF SWINGS IN GLOBAL WHEAT PRICES ON THE DOMESTIC MARKETS IN AFGHANISTAN

Directory of Open Access Journals (Sweden)

Najibullah Hassanzoy

2016-10-01

Full Text Available The recent shocks in global prices of cereals and the spillover effects of trade restrictive policies adversely affected domestic markets, particularly in the net food importing countries such as Afghanistan. This paper investigates the effects of 2007–2008 spikes in global wheat prices on the dynamics of price transmission and long-run equilibrium relationship between global and domestic wheat markets. The findings indicate that domestic and global wheat markets may be cointegrated in Regime-I (pre-break, Regime-II (post-break and the overall sample period. Moreover, the elasticity of price transmission and speed of adjustment towards the long-run equilibrium are substantially different between the two regimes, i.e., they appear to be larger in Regime-I as compared to Regime-II. Similarly, the effect of a shock in global wheat prices on domestic wheat markets might be long-lasting in Regime-I but transitory in Regime-II. This research underlines the need for mitigating the adverse effect of spikes in global wheat prices on domestic wheat markets in the context of a landlocked net food importing country.

Global Market Access in the Internet Era: South Africa's Wood Furniture Industry.

Science.gov (United States)

Moodley, Sagren

2002-01-01

Explores the link between Internet connectivity and access to global markets, and uses the South African wood furniture producers as they are integrated into global value chains and exposed to the demands of more sophisticated markets. Articulates policy recommendations to promote greater diffusion of e-commerce technologies in the wood furniture…

Research on the Development of Green Finance in Shenzhen to Boost the Carbon Trading Market

Science.gov (United States)

Zhou, Jiping; Xiong, Siqin; Zhou, Yucheng; Zou, Zijian; Ma, Xiaoming

2017-08-01

This paper analyses the current development situations of Shenzhen carbon trading market and China’s green finance, and makes the policy recommendations for promoting the carbon trading market by developing green finance in Shenzhen. Shenzhen should take the lead in driving the localized application of green principle, and formulate Shenzhen green bond guidelines ASAP, to promote carbon trading associated enterprises to finance by using green bonds; it shall work to lower the threshold for financial institutions to participate in carbon trading market, and explore development of carbon derivatives.

Impact of Global Financial Crisis on Nigerian Stock Market | Onuoha ...

African Journals Online (AJOL)

Impact of Global Financial Crisis on Nigerian Stock Market. ... that the global financial crisis measured by currency crisis, credit crisis, liquidity crisis, ... relevant regulatory authorities should use the financial stress index (FSI) as proposed by ...

Marketing and Globalization of the Brewing Industry

DEFF Research Database (Denmark)

Madsen, Erik Strøjer; Wu, Yanqing

2016-01-01

The globalization of the brewing industry after the turn of the century through a large wave of mergers and acquisitions has changed the structure of the world beer markets. The chapter tracks the development in industry concentrations from 2002 to 2012 and points to high transportation costs...... for beers and economies of scale at the firm level in advertising and sales efforts as the main factors behind the wave of cross-country mergers and acquisitions. Using firm-level data from the largest breweries, the estimations verify significant economies of scale at the firm level in marketing...... significant economies of scale benefits at the firm level to be shared between the merging partners as marketing and distribution costs are very high in this industry....

The global carbon budget 1959–2011

Directory of Open Access Journals (Sweden)

C. Le Quéré

2013-05-01

Full Text Available Accurate assessments of anthropogenic carbon dioxide (CO2 emissions and their redistribution among the atmosphere, ocean, and terrestrial biosphere is important to better understand the global carbon cycle, support the climate policy process, and project future climate change. Present-day analysis requires the combination of a range of data, algorithms, statistics and model estimates and their interpretation by a broad scientific community. Here we describe datasets and a methodology developed by the global carbon cycle science community to quantify all major components of the global carbon budget, including their uncertainties. We discuss changes compared to previous estimates, consistency within and among components, and methodology and data limitations. CO2 emissions from fossil fuel combustion and cement production (EFF are based on energy statistics, while emissions from Land-Use Change (ELUC, including deforestation, are based on combined evidence from land cover change data, fire activity in regions undergoing deforestation, and models. The global atmospheric CO2 concentration is measured directly and its rate of growth (GATM is computed from the concentration. The mean ocean CO2 sink (SOCEAN is based on observations from the 1990s, while the annual anomalies and trends are estimated with ocean models. Finally, the global residual terrestrial CO2 sink (SLAND is estimated by the difference of the other terms. For the last decade available (2002–2011, EFF was 8.3 ± 0.4 PgC yr−1, ELUC 1.0 ± 0.5 PgC yr−1, GATM 4.3 ± 0.1PgC yr−1, SOCEAN 2.5 ± 0.5 PgC yr−1, and SLAND 2.6 ± 0.8 PgC yr−1. For year 2011 alone, EFF was 9.5 ± 0.5 PgC yr−1, 3.0 percent above 2010, reflecting a continued trend in these emissions; ELUC was 0.9 ± 0.5 PgC yr−1, approximately constant throughout the decade; GATM was 3.6 ± 0.2 PgC yr−1, SOCEAN was 2.7 ± 0.5 PgC yr−1, and SLAND was 4.1 ± 0.9 PgC yr−1. GATM was low in 2011

A comparability analysis of global burden sharing GHG reduction scenarios

International Nuclear Information System (INIS)

Ciscar, Juan-Carlos; Saveyn, Bert; Soria, Antonio; Szabo, Laszlo; Van Regemorter, Denise; Van Ierland, Tom

2013-01-01

The distribution of the mitigation burden across countries is a key issue regarding the post-2012 global climate policies. This article explores the economic implications of alternative allocation rules, an assessment made in the run-up to the COP15 in Copenhagen (December 2009). We analyse the comparability of the allocations across countries based on four single indicators: GDP per capita, GHG emissions per GDP, GHG emission trends in the recent past, and population growth. The multi-sectoral computable general equilibrium model of the global economy, GEM-E3, is used for that purpose. Further, the article also compares a perfect carbon market without transaction costs with the case of a gradually developing carbon market, i.e. a carbon market with (gradually diminishing) transaction costs. - Highlights: ► Burden sharing of global mitigation efforts should consider equity and efficiency. ► The comparability of allocations across countries is based on four indicators. ► The four indicators are GDP/capita, GHG/GDP, population growth, and GHG trend. ► Any possible agreement on effort comparability needs a combination of indicators. ► We analyse the role played by the degree of flexibility in global carbon trading

Investors’ Risk Appetite and Global Financial Market Conditions

OpenAIRE

Brenda Gonzalez-Hermosillo

2008-01-01

A structural vector autoregression model is developed to analyze the dynamics of bond spreads among a sample of mature and developing countries during periods of financial stress in the last decade. The model identifies and quantifies the contribution on bond spreads from global market conditions (including funding liquidity, market liquidity, as well as credit and volatility risks), contagion effects, and idiosyncratic factors. While idiosyncratic factors explain a large amount of the change...

Soil Carbon Chemistry and Greenhouse Gas Production in Global Peatlands

Science.gov (United States)

Normand, A. E.; Turner, B. L.; Lamit, L. J.; Smith, A. N.; Baiser, B.; Clark, M. W.; Hazlett, C.; Lilleskov, E.; Long, J.; Grover, S.; Reddy, K. R.

2017-12-01

Peatlands play a critical role in the global carbon cycle because they contain approximately 30% of the 1500 Pg of carbon stored in soils worldwide. However, the stability of these vast stores of carbon is under threat from climate and land-use change, with important consequences for global climate. Ecosystem models predict the impact of peatland perturbation on carbon fluxes based on total soil carbon pools, but responses could vary markedly depending on the chemical composition of soil organic matter. Here we combine experimental and observational studies to quantify the chemical nature and response to perturbation of soil organic matter in peatlands worldwide. We quantified carbon functional groups in a global sample of 125 freshwater peatlands using solid-state 13C nuclear magnetic resonance (NMR) spectroscopy to determine the drivers of molecular composition of soil organic matter. We then incubated a representative subset of the soils under aerobic and anaerobic conditions to determine how organic matter composition influences carbon dioxide (CO2) and methane (CH4) emissions following drainage or flooding. The functional chemistry of peat varied markedly at large and small spatial scales, due to long-term land use change, mean annual temperature, nutrient status, and vegetation, but not pH. Despite this variation, we found predictable responses of greenhouse gas production following drainage based on soil carbon chemistry, defined by a novel Global Peat Stability Index, with greater CO2 and CH4 fluxes from soils enriched in oxygen-containing organic carbon (O-alkyl C) and depleted in aromatic and hydrophobic compounds. Incorporation of the Global Peat Stability Index of peatland organic matter into earth system models and management strategies, which will improve estimates of GHG fluxes from peatlands and ultimately advance management to reduce carbon loss from these sensitive ecosystems.

Assessing Students' Disciplinary and Interdisciplinary Understanding of Global Carbon Cycling

Science.gov (United States)

You, Hye Sun; Marshall, Jill A.; Delgado, Cesar

2018-01-01

Global carbon cycling describes the movement of carbon through atmosphere, biosphere, geosphere, and hydrosphere; it lies at the heart of climate change and sustainability. To understand the global carbon cycle, students will require "interdisciplinary knowledge." While standards documents in science education have long promoted…

Global socioeconomic carbon stocks in long-lived products 1900–2008

International Nuclear Information System (INIS)

Lauk, Christian; Haberl, Helmut; Erb, Karl-Heinz; Gingrich, Simone; Krausmann, Fridolin

2012-01-01

A better understanding of the global carbon cycle as well as of climate change mitigation options such as carbon sequestration requires the quantification of natural and socioeconomic stocks and flows of carbon. A so-far under-researched aspect of the global carbon budget is the accumulation of carbon in long-lived products such as buildings and furniture. We present a comprehensive assessment of global socioeconomic carbon stocks and the corresponding in- and outflows during the period 1900–2008. These data allowed calculation of the annual carbon sink in socioeconomic stocks during this period. The study covers the most important socioeconomic carbon fractions, i.e. wood, bitumen, plastic and cereals. Our assessment was mainly based on production and consumption data for plastic, bitumen and wood products and the respective fractions remaining in stocks in any given year. Global socioeconomic carbon stocks were 2.3 GtC in 1900 and increased to 11.5 GtC in 2008. The share of wood in total C stocks fell from 97% in 1900 to 60% in 2008, while the shares of plastic and bitumen increased to 16% and 22%, respectively. The rate of gross carbon sequestration in socioeconomic stocks increased from 17 MtC yr −1 in 1900 to a maximum of 247 MtC yr −1 in 2007, corresponding to 2.2%–3.4% of global fossil-fuel-related carbon emissions. We conclude that while socioeconomic carbon stocks are not negligible, their growth over time is not a major climate change mitigation option and there is an only modest potential to mitigate climate change by the increase of socioeconomic carbon stocks. (letter)

Old-growth forests as global carbon sinks

NARCIS (Netherlands)

Luyssaert, S; Schulze, E.D.; Börner, A.

2008-01-01

Old- growth forests remove carbon dioxide from the atmosphere(1,2) at rates that vary with climate and nitrogen deposition(3). The sequestered carbon dioxide is stored in live woody tissues and slowly decomposing organic matter in litter and soil(4). Old- growth forests therefore serve as a global

A global network topology of stock markets: Transmitters and receivers of spillover effects

Science.gov (United States)

Shahzad, Syed Jawad Hussain; Hernandez, Jose Areola; Rehman, Mobeen Ur; Al-Yahyaee, Khamis Hamed; Zakaria, Muhammad

2018-02-01

This paper applies a bivariate cross-quantilogram approach to examine the spillover network structure in the stock markets of 58 countries according to bearish, normal and bullish market scenarios. Our aim is to identify the strongest interdependencies, the directionality of the spillover risk effects, and to detect those equity markets with the potential to cause global systemic risk. The results highlight the role of the US and Canadian equity markets as major spillover transmitters, while the stock markets of Romania, Taiwan and Mexico act mainly as spillover receivers. Particularly strong spillovers are observed from the Canadian and US equity markets towards the Irish market, and from the Brazilian equity market towards the Kenyan equivalent. The equity market networks suggest that only the US equity market can trigger systemic risk on a global scale. Implications of the results are discussed.

DYNAMICS AND NEW CHALLENGES IN THE GLOBAL COMMODITY MARKET

Directory of Open Access Journals (Sweden)

MARIA CARTAS

2015-12-01

Full Text Available Global economy and particularly the world production of goods depends to a large extent on the supply of raw materials, of resource inputs extracted from the environment as well as an easy access to them. Commodities play an important part in the growth of global production and in the world trade in goods and services. The access to raw materials is vital for sustaining the productive capacity of the economy and also for satisfying domestic demand for industrial goods. On the other side, increasing demand for commodities and the need for assuring a sustainable supply pose great challenges on the world economy. The issue of raw materials supply represents a high - priority theme in the political agenda of the European Union. The Raw Materials Initiative launched in 2008 by the European Commission is based on three main pillars: - to ensure the access to raw materials on world market at undistorted conditions; - to foster sustainable supply of raw materials from European sources; - to reduce the EU's consumption of primary raw materials. (EC, 2008. To this end, EC has started to take action in order to ensure access to resources and avoid supply shortages. A great deal of attention is being paid to the study of recent developments in the global and particular commodity markets, taking into consideration fundamental aspects as supply concentration, governance of producing countries, the pressure of demand and its impact on prices, material's substitutability, stressing the role of resource consumption efficiency, recycling and substitution of vital raw materials and thus providing policy makers and industry with reliable information on how to efficiently manage resource inputs. This paper is dealing with the main developments which occurred during the past decade or so in the global commodity market, a major driver of the world economy, with particular reference to selected key -markets - as: aluminium, copper, nickel; cotton; corn, meat - swine

1km Global Terrestrial Carbon Flux: Estimations and Evaluations

Science.gov (United States)

Murakami, K.; Sasai, T.; Kato, S.; Saito, M.; Matsunaga, T.; Hiraki, K.; Maksyutov, S. S.

2017-12-01

Estimating global scale of the terrestrial carbon flux change with high accuracy and high resolution is important to understand global environmental changes. Furthermore the estimations of the global spatiotemporal distribution may contribute to the political and social activities such as REDD+. In order to reveal the current state of terrestrial carbon fluxes covering all over the world and a decadal scale. The satellite-based diagnostic biosphere model is suitable for achieving this purpose owing to observing on the present global land surface condition uniformly at some time interval. In this study, we estimated the global terrestrial carbon fluxes with 1km grids by using the terrestrial biosphere model (BEAMS). And we evaluated our new carbon flux estimations on various spatial scales and showed the transition of forest carbon stocks in some regions. Because BEAMS required high resolution meteorological data and satellite data as input data, we made 1km interpolated data using a kriging method. The data used in this study were JRA-55, GPCP, GOSAT L4B atmospheric CO2 data as meteorological data, and MODIS land product as land surface satellite data. Interpolating process was performed on the meteorological data because of insufficient resolution, but not on MODIS data. We evaluated our new carbon flux estimations using the flux tower measurement (FLUXNET2015 Datasets) in a point scale. We used 166 sites data for evaluating our model results. These flux sites are classified following vegetation type (DBF, EBF, ENF, mixed forests, grass lands, croplands, shrub lands, Savannas, wetlands). In global scale, the BEAMS estimations was underestimated compared to the flux measurements in the case of carbon uptake and release. The monthly variations of NEP showed relatively high correlations in DBF and mixed forests, but the correlation coefficients of EBF, ENF, and grass lands were less than 0.5. In the meteorological factors, air temperature and solar radiation showed

The national security dividend of global carbon mitigation

International Nuclear Information System (INIS)

Mignone, Bryan K.

2007-01-01

Energy and environmental security objectives are often conflated in political circles and in the popular press. Results from a well-established integrated assessment model suggest that policies designed to stabilize atmospheric carbon dioxide concentrations at levels above ∼500 ppm generally do not align with policies to curb global oil dependence, because these atmospheric objectives can be achieved largely through reductions in global coal consumption. Policies designed to stabilize atmospheric carbon dioxide at levels below ∼500 ppm, on the other hand, directly facilitate the alignment of environmental and security objectives because atmospheric targets in this range demand significant reductions in both coal and oil use. Greater recognition that investment in carbon mitigation can yield significant security dividends may alter the political cost-benefit calculus of energy-importing nations and could increase the willingness of some key global actors to seek binding cooperative targets under any post-Kyoto climate treaty regime

Terrestrial nitrogen-carbon cycle interactions at the global scale.

Science.gov (United States)

Zaehle, S

2013-07-05

Interactions between the terrestrial nitrogen (N) and carbon (C) cycles shape the response of ecosystems to global change. However, the global distribution of nitrogen availability and its importance in global biogeochemistry and biogeochemical interactions with the climate system remain uncertain. Based on projections of a terrestrial biosphere model scaling ecological understanding of nitrogen-carbon cycle interactions to global scales, anthropogenic nitrogen additions since 1860 are estimated to have enriched the terrestrial biosphere by 1.3 Pg N, supporting the sequestration of 11.2 Pg C. Over the same time period, CO2 fertilization has increased terrestrial carbon storage by 134.0 Pg C, increasing the terrestrial nitrogen stock by 1.2 Pg N. In 2001-2010, terrestrial ecosystems sequestered an estimated total of 27 Tg N yr(-1) (1.9 Pg C yr(-1)), of which 10 Tg N yr(-1) (0.2 Pg C yr(-1)) are due to anthropogenic nitrogen deposition. Nitrogen availability already limits terrestrial carbon sequestration in the boreal and temperate zone, and will constrain future carbon sequestration in response to CO2 fertilization (regionally by up to 70% compared with an estimate without considering nitrogen-carbon interactions). This reduced terrestrial carbon uptake will probably dominate the role of the terrestrial nitrogen cycle in the climate system, as it accelerates the accumulation of anthropogenic CO2 in the atmosphere. However, increases of N2O emissions owing to anthropogenic nitrogen and climate change (at a rate of approx. 0.5 Tg N yr(-1) per 1°C degree climate warming) will add an important long-term climate forcing.

Key determinants of managing the marketing asset of global companies

OpenAIRE

Tatyana Tsygankova; Roman Ponomarenko

2016-01-01

As a result of organization and summarization of key concepts of evolution of the marketing tools of global companies, the authors determined the role of the marketing assets in the system of modern marketing management (as a dialectically higher stage of development of the analyzed tools, which will allow overcoming the antagonistic contradiction of “P- and C-vectors” of their development). The article identified the optimal set of key elements of the system of marketing assets, which are th...

The unknown story of the European carbon market: an archaeology of the electrical sector

International Nuclear Information System (INIS)

Cartel, Melodie; Aggeri, Franck; Caneill, Jean-Yves

2017-01-01

In economic literature, the creation of the European carbon market is presented as a major institutional innovation that can be viewed as a direct application of economic theory. In this article, we propose another version of how the European carbon market came about that emphasizes the active role played by companies. For a period of three years, these companies designed and tested a prototype carbon market, while being observed by European experts. Drawing on archive documents, we analyze this experimentation process and examine in detail its influence on the European carbon market. We then discuss the role of companies in the processes of institutional innovation, a process that generally remains invisible. Finally it is explained how such experiments, conducted in protected spaces, can facilitate the design and testing of new concepts

Global challenges and perspectives of marketing of healthy food products

Directory of Open Access Journals (Sweden)

Mitić Sanja

2012-01-01

Full Text Available This paper deals with global trends of healthy food market growth, Serbian export potential as well as with the importance and role of positioning and other marketing strategies in this field. Secondary data will be used for identifying characteristics and range of healthy food market on a global level and key segments. In that context, the economic importance and export potential of this sector in Serbia will be discussed. Food sector accounts for high percentage of total Serbian export. Yet, those products are of low added value, neither branded nor packed. In order to position producers of healthy food on an international market successfully, strength and weaknesses of domestic production and export will be identified as well as measures for its promotion. In this paper, literature review in field of food positioning and marketing will be presented. Various positioning strategies of healthy food will be discussed from the aspect of branding, country of origin image, marketing mix instruments, with special emphasis on promotion and product labelling. Special part of paper will be dedicated to specific aspects of buying and food consumption behaviour. This behaviour is under the influence of numerous factors, both personal and sociodemographic, which will be analyzed in order to identify adequate positioning strategies. At the end, recommendations for successfully healthy food positioning on an international market will be given. We will present ways of improving marketing strategies regarding exploiting identified chances on an international market.

Contribution of soil respiration to the global carbon equation.

Science.gov (United States)

Xu, Ming; Shang, Hua

2016-09-20

Soil respiration (Rs) is the second largest carbon flux next to GPP between the terrestrial ecosystem (the largest organic carbon pool) and the atmosphere at a global scale. Given their critical role in the global carbon cycle, Rs measurement and modeling issues have been well reviewed in previous studies. In this paper, we briefly review advances in soil organic carbon (SOC) decomposition processes and the factors affecting Rs. We examine the spatial and temporal distribution of Rs measurements available in the literature and found that most of the measurements were conducted in North America, Europe, and East Asia, with major gaps in Africa, East Europe, North Asia, Southeast Asia, and Australia, especially in dry ecosystems. We discuss the potential problems of measuring Rs on slope soils and propose using obliquely-cut soil collars to solve the existing problems. We synthesize previous estimates of global Rs flux and find that the estimates ranged from 50 PgC/yr to 98 PgC/yr and the error associated with each estimation was also high (4 PgC/yr to 33.2 PgC/yr). Using a newly integrated database of Rs measurements and the MODIS vegetation map, we estimate that the global annual Rs flux is 94.3 PgC/yr with an estimation error of 17.9 PgC/yr at a 95% confidence level. The uneven distribution of Rs measurements limits our ability to improve the accuracy of estimation. Based on the global estimation of Rs flux, we found that Rs is highly correlated with GPP and NPP at the biome level, highlighting the role of Rs in global carbon budgets. Copyright © 2016. Published by Elsevier GmbH.

Global Wind Report. Annual market update 2010

International Nuclear Information System (INIS)

Pullen, A.; Sawyer, S.

2011-04-01

GWEC's annual report is the authoritative source of information on wind power markets around the world. The Global Wind 2010 Report contains installation figures for over 70 countries for the 2010 record year, as well as a five-year forecast up to 2015 and detailed chapters on the key countries.

A Tri-Country Marketing Project--Preparing Students for the Realities of a Global Marketplace

Science.gov (United States)

Freeman, Ina; Knight, Peter; Butt, Irfan

2011-01-01

With rapidly increasing globalization, business students are required to understand complex global markets and adapt to the rapid changes in the global landscape. This paper discusses a project where students from International Marketing courses in Pakistan, the United States, and France used an interactive platform as a base to jointly explore…

State forestry agency perspectives on carbon management and carbon market assistance to family forest owners

Science.gov (United States)

Kristell A. Miller; Stephanie A. Snyder; Michael A. Kilgore

2015-01-01

Family forest owners within the United States could potentially make significant contributions to sequestration efforts. However, we expect that landowners will need assistance if they are to successfully implement carbon management techniques and/or navigate through complex carbon market requirements. State forestry agencies were surveyed to gather their perspectives...

ASSESSING INTERNATIONAL MARKET SEGMENTATION APPROACHES: RELATED LITERATURE AT A GLANCE AND SUGGESSTIONS FOR GLOBAL COMPANIES

OpenAIRE

Nacar, Ramazan; Uray, Nimet

2015-01-01

With the increasing role of globalization, international market segmentation has become a critical success factor for global companies, which aim for international market expansion. Despite the practice of numerous methods and bases for international market segmentation, international market segmentation is still a complex and an under-researched area. By considering all these issues, underdeveloped and under-researched international market segmentation bases such as social, cultural, psychol...

Market influence on the low carbon energy refurbishment of existing multi-residential buildings

International Nuclear Information System (INIS)

Atkinson, Jonathan G.B.; Jackson, Tim; Mullings-Smith, Elizabeth

2009-01-01

This paper explores the relationship between the energy market; the political and regulatory context; and energy design decisions for existing multi-residential buildings, to determine what form the energy market landscape would take if tailored to encourage low carbon solutions. The links between market dynamics, Government strategies, and building designs are mapped to understand the steps that achieve carbon reduction from building operation. This is achieved using a model that takes financial and energy components with market and design variables to provide net present cost and annual carbon outputs. The financial component applies discounted cash flow analysis over the building lifespan, with discount rates reflecting contractual characteristics; the carbon component uses Standard Assessment Procedure (SAP) 2005. A scenario approach is adopted to test alternative strategies selected to encourage low carbon solutions in two residential and two office designs. The results show that the forward assumption of energy price escalation is the most influential factor on energy investment, together with the expected differentiation between the escalation of gas and electricity prices. Using this, and other influencing factors, the research reveals trends and strategies that will achieve mainstream application of energy efficiency and microgeneration technologies, and reduce carbon emissions in the existing multi-residential sector.

Features of competition and development of markets in an age of globalized economy

Directory of Open Access Journals (Sweden)

Dr.Sc. Skender Kërçuku

2011-12-01

Full Text Available The fall of communism in Eastern Europe in the beginning of the 90-ies of the 20th century marked the beginning of a historical process of triumph of market economy in a wide geographical area and a large population, which had to have an influence on global developments. This age is characterized not only by a comprehensive ruling of capitalist market economy, but also by a series of important structural changes in economies of various countries, national and international mechanisms of market functioning, and relevant institutions thereto. Distinct authors have various opinions on characteristics and positive and negative outcomes of a globalized economy era. Some consider the globalization of world economy as a quantitative and qualitative expansion of market economy throughout the world, similar to the situation before the World War I. Other more serious authors consider the globalization of world economy as a new qualitative era, with important consequences on many areas.

Impact of global investment processes on ukrainian share market

Directory of Open Access Journals (Sweden)

O.К. Zotsenko

2015-03-01

Full Text Available The paper investigates the effects of financial and investment processes on the Ukrainian share market. The research analyzed and estimated investment climate in Ukraine. The study highlights a comparison of the domestic share market with share markets of other countries. In terms of share capitalization of listed companies in the GDP determined that equity is the most developed in the USA and UK. Largest share markets with highest capitalization rate characterized. The regional distribution of the share market capitalization by continents are shown. The study of the dynamics of Ukrainian and global share indexes revealed that the Ukrainian share market indexes show a constant volatility and unpredictability. Correlation Ukrainian stock indexes with indexes in Europe, Russia and America is very weak, which is a very negative trend of the stock market of Ukraine. The key problems and risks of the domestic investments are defined which are consequences of downturn in the Ukrainian share market.

Alpine hydropower in a low carbon economy: Assessing the local implication of global policies

Science.gov (United States)

Anghileri, Daniela; Castelletti, Andrea; Burlando, Paolo

2016-04-01

In the global transition towards a more efficient and low-carbon economy, renewable energy plays a major role in displacing fossil fuels, meeting global energy demand while reducing carbon dioxide emissions. In Europe, Variable Renewable Sources (VRS), such as wind and solar power sources, are becoming a relevant share of the generation portfolios in many countries. Beside the indisputable social and environmental advantages of VRS, on the short medium term the VRS-induced lowering energy prices and increasing price's volatility might challenge traditional power sources and, among them, hydropower production, because of smaller incomes and higher maintenance costs associated to a more flexible operation of power systems. In this study, we focus on the Swiss hydropower sector analysing how different low-carbon targets and strategies established at the Swiss and European level might affect energy price formation and thus impact - through hydropower operation - water availability and ecosystems services at the catchment scale. We combine a hydrological model to simulate future water availability and an electricity market model to simulate future evolution of energy prices based on official Swiss and European energy roadmaps and CO2 price trends in the European Union. We use Multi-Objective optimization techniques to design alternative hydropower reservoir operation strategies, aiming to maximise the hydropower companies' income or to provide reliable energy supply with respect to the energy demand. This integrated model allows analysing to which extent global low-carbon policies impact reservoir operation at the local scale, and to gain insight on how to prioritise compensation measures and/or adaptation strategies to mitigate the impact of VRS on hydropower companies in increasingly water constrained settings. Numerical results are shown for a real-world case study in the Swiss Alps.

Applicability of Markets to Global Scheduling in Grids: Critical Examination of General Equilibrium Theory and Market Folklore

Science.gov (United States)

Nakai, Junko; VanDerWijngaart, Rob F.

2003-01-01

Markets are often considered superior to other global scheduling mechanisms for distributed computing systems. This claim is supported by: a casual observation from our every-day life that markets successfully equilibrate supply and demand, and the features of markets which originate in the general equilibrium theory, e.g., efficiency and the lack of necessity of 2 central controller. This paper describes why such beliefs in markets are not warranted. It does so by examining the general equilibrium theory, in terms of scope, abstraction, and interpretation. Not only does the general equilibrium theory fail to provide a satisfactory explanation of actual economies, including a computing-resource economy, it also falls short of supplying theoretical foundations for commonly held views of market desirability. This paper also points out that the argument for the desirability of markets involves circular reasoning and that the desirability can be established only vis-a-vis a scheduling goal. Finally, recasting the conclusion of Arrow's Impossibility Theorem as that for global scheduling, we conclude that there exists no market-based scheduler that is rational (in the sense defined in microeconomic theory), takes into account utility of more than one user, and yet yields a Pareto-optimal outcome for arbitrary user utility functions.

Global Trends and Development Prospects for Oil and the Oil Products Market

Directory of Open Access Journals (Sweden)

Maria Dorozhkina

2006-03-01

Full Text Available This article discusses the important issue of the development of the global market of oil and oil products. It offers an overview of how this market was formed and its current status, classification, location and potential of countries in the oil and oil processing business. It analyzes the Ukrainian oil products market. The article discusses the shortcomings and strategic areas for the development of Ukraine’s oil transport system. It presents an optimum method for creating integration groups in order to develop the oil processing business in Ukraine for the future. The article considers the main trends and outlines development prospects for the global oil and oil products market.

Global agriculture and carbon trade-offs.

Science.gov (United States)

Johnson, Justin Andrew; Runge, Carlisle Ford; Senauer, Benjamin; Foley, Jonathan; Polasky, Stephen

2014-08-26

Feeding a growing and increasingly affluent world will require expanded agricultural production, which may require converting grasslands and forests into cropland. Such conversions can reduce carbon storage, habitat provision, and other ecosystem services, presenting difficult societal trade-offs. In this paper, we use spatially explicit data on agricultural productivity and carbon storage in a global analysis to find where agricultural extensification should occur to meet growing demand while minimizing carbon emissions from land use change. Selective extensification saves ∼ 6 billion metric tons of carbon compared with a business-as-usual approach, with a value of approximately $1 trillion (2012 US dollars) using recent estimates of the social cost of carbon. This type of spatially explicit geospatial analysis can be expanded to include other ecosystem services and other industries to analyze how to minimize conflicts between economic development and environmental sustainability.

Globalization, Publishing, and the Marketing of “Hispanic” Identities

Directory of Open Access Journals (Sweden)

Jill Robbins

2014-06-01

Full Text Available My article explores the complex Spanish reaction to recent changes in the Spanish-language publishing business as indicative of an ambivalence toward Spain’s place in the new global order, particularly by liberal intellectuals who associate books and bookstores with resistance and solidarity. The purchase of important Spanish publishers by international media conglomerates also implies to some a loss of national identity and cultural values, at the same time as the internationalization of the publishing business represents Spain’s incorporation into the European community and the world economy. The European Union, however, and Spain in particular, have globalized and marketed Latin America through business ventures, NGOs and cooperative efforts linked both to the embassies and to the international corporations. The resulting contradictions –the resistance to and welcoming of globalization, the nostalgia for, economic colonization of and rejection of Latin America– affect what is currently published in Spain by Spanish and Latin American authors and how it is marketed.

Digital Innovations: Startup Marketing Strategy for Global Growth

OpenAIRE

Gröhn, Hanna

2017-01-01

This thesis discusses the relatively new phenomena of innovative digital products created by startup companies, who often must scale globally fast, before the volatile trends or the fierce competition of the digital marketspace take over. International entry itself is no longer the issue, but rather standing out in the crowd while balancing resources and flexibility. The focus is on how startups can induce global growth and tackle structural obstacles by means of marketing strategy. The t...

Mexico and emerging carbon markets : investment opportunities for small and medium-size companies and the global climate agenda

International Nuclear Information System (INIS)

Vaughan, S.; Carpentier, C.L.; Patterson, Z.; Kelly, K.; De Alba, E.; Hoyt, E.A.; Breceda, M.; Ouimet, B.

2001-11-01

This report provides information to the financial services sector on major environmental issues in North America in an effort to identify potential financial opportunities in Mexico regarding the climate change agenda and those coming from possible carbon offset projects. As a non-Annex 1 country, Mexico is not obliged to meet domestic GHG emission reduction targets, but given the strong economic links between Mexico, Canada and the United States it is suggested that investment transfer links to climate change should follow existing international investment and trade patterns. This report examined three sectors in Mexico, including electric power generation, steel production and land-use change and forestry, in an effort to evaluate their potential for carbon reduction. The report identifies carbon-related opportunities involving small and medium-size enterprises (SMEs) in particular because large companies are already better positioned to examine opportunities associated with the international climate agenda. SMEs, however, face many challenges in taking advantage of climate-related projects and associated investment opportunities, including higher entry and transaction costs, difficulty in accessing capital markets, and difficulty in estimating individual baselines and inventories. The report showed that the main carbon-related opportunity in Mexico's electricity sector are closely related to the planned expansion of natural gas use. This study also suggests that the climate agenda can contribute to changing Mexican forests from their current state of being a net source of greenhouse gas emissions, to becoming a significant carbon sink. tabs., figs

Global patterns of aboveground carbon stock and sequestration in mangroves

Directory of Open Access Journals (Sweden)

GUSTAVO C.D. ESTRADA

Full Text Available ABSTRACT In order to contribute to understand the factors that control the provisioning of the ecosystem service of carbon storage by mangroves, data on carbon stock and sequestration in the aboveground biomass (AGB from 73 articles were averaged and tested for the dependence on latitude, climatic parameters, physiographic types and age. Global means of carbon stock (78.0 ± 64.5 tC.ha-1 and sequestration (2.9 ± 2.2 tC.ha-1.yr-1 showed that mangroves are among the forest ecosystems with greater capacity of carbon storage in AGB per area. On the global scale, carbon stock increases toward the equator (R²=0.22 and is dependent on 13 climatic parameters, which can be integrated in the following predictive equation: Carbon Stock in AGB = -16.342 + (8.341 x Isothermality + (0.021 x Annual Precipitation [R²=0.34; p < 0.05]. It was shown that almost 70% of carbon stock variability is explained by age. Carbon stock and sequestration also vary according to physiographic types, indicating the importance of hydroperiod and edaphic parameters to the local variability of carbon stock. By demonstrating the contribution of local and regional-global factors to carbon stock, this study provides information to the forecast of the effects of future climate changes and local anthropogenic forcings on this ecosystem service.

Stock return predictability and market integration: The role of global and local information

Directory of Open Access Journals (Sweden)

David G. McMillan

2016-12-01

Full Text Available This paper examines the predictability of a range of international stock markets where we allow the presence of both local and global predictive factors. Recent research has argued that US returns have predictive power for international stock returns. We expand this line of research, following work on market integration, to include a more general definition of the global factor, based on principal components analysis. Results identify three global expected returns factors, one related to the major stock markets of the US, UK and Asia and one related to the other markets analysed. The third component is related to dividend growth. A single dominant realised returns factor is also noted. A forecasting exercise comparing the principal components based factors to a US return factor and local market only factors, as well as the historical mean benchmark finds supportive evidence for the former approach. It is hoped that the results from this paper will be informative on three counts. First, to academics interested in understanding the dynamics asset price movement. Second, to market participants who aim to time the market and engage in portfolio and risk management. Third, to those (policy makers and others who are interested in linkages across international markets and the nature and degree of integration.

Carbon price instead of support schemes: wind power investments by the electricity market

International Nuclear Information System (INIS)

Petitet, Marie; Finon, Dominique; Janssen, Tanguy

2014-10-01

In this paper we study the development of wind power by the electricity market without any usual support scheme which is aimed at subsidizing non mature renewables, with the sole incentive of a significant carbon price. Long term electricity market and investment decisions simulation by system dynamics modelling is used to trace the electricity generation mix evolution over a 20-year period in a pure thermal system. A range of stable carbon price, as a tax could be, is tested in order to determine the value above which wind power development by market forces becomes economically possible. Not only economic competitiveness in terms of cost price, but also profitability against traditional fossil fuel technologies are necessary for a market-driven development of wind power. Results stress that wind power is really profitable for investors only if the carbon price is very significantly higher than the price required for making wind power MWh's cost price competitive with CCGT and coal-fired plants on the simplistic basis of levelized costs. In this context, the market-driven development of wind power seems only possible if there is a strong commitment to climate policy, reflected by the preference for a stable and high carbon price rather than a fuzzy price of an emission trading scheme. Besides, results show that market-driven development of wind power would require a sky-rocketing carbon price if the initial technology mix includes a share of nuclear plants even with a moratorium on new nuclear development. (authors)

The effectiveness of social marketing in global health: a systematic review.

Science.gov (United States)

Firestone, Rebecca; Rowe, Cassandra J; Modi, Shilpa N; Sievers, Dana

2017-02-01

Social marketing is a commonly used strategy in global health. Social marketing programmes may sell subsidized products through commercial sector outlets, distribute appropriately priced products, deliver health services through social franchises and promote behaviours not dependent upon a product or service. We aimed to review evidence of the effectiveness of social marketing in low- and middle-income countries, focusing on major areas of investment in global health: HIV, reproductive health, child survival, malaria and tuberculosis. We searched PubMed, PsycInfo and ProQuest, using search terms linking social marketing and health outcomes for studies published from 1995 to 2013. Eligible studies used experimental or quasi-experimental designs to measure outcomes of behavioural factors, health behaviours and/or health outcomes in each health area. Studies were analysed by effect estimates and for application of social marketing benchmark criteria. After reviewing 18 974 records, 125 studies met inclusion criteria. Across health areas, 81 studies reported on changes in behavioural factors, 97 studies reported on changes in behaviour and 42 studies reported on health outcomes. The greatest number of studies focused on HIV outcomes (n = 45) and took place in sub-Saharan Africa (n = 67). Most studies used quasi-experimental designs and reported mixed results. Child survival had proportionately the greatest number of studies using experimental designs, reporting health outcomes, and reporting positive, statistically significant results. Most programmes used a range of methods to promote behaviour change. Programmes with positive, statistically significant findings were more likely to apply audience insights and cost-benefit analyses to motivate behaviour change. Key evidence gaps were found in voluntary medical male circumcision and childhood pneumonia. Social marketing can influence health behaviours and health outcomes in global health; however evaluations

Risks in global natural gas markets: Investment, hedging and trade

International Nuclear Information System (INIS)

Egging, Ruud; Holz, Franziska

2016-01-01

Recent supply security concerns in Europe have revived interest into the natural gas market. We investigate infrastructure investment and trade in an imperfect market structure for various possible risks for both supply and demand. We focus on three possible scenarios in a stochastic global gas market model: (i) transit of Russian gas via Ukraine that may be disrupted from 2020 on; (ii) natural gas intensity of electricity generation in OECD countries that may lead to higher or lower natural gas demand after 2025; and (iii) availability of shale gas around the globe after 2030. We illustrate how the timing of investments is affected by inter-temporal hedging behavior of market agents, such as when LNG capacity provides ex-ante flexibility or an ex-post fallback option if domestic or nearby pipeline supply sources are low. Moreover, we find that investment in LNG capacities is more determined by demand side pull – due to higher needs in electric power generation – than by supply side push, e.g. higher shale gas supplies needing an outlet. We focus on Europe, North America, and China that are the world's most important gas consuming and supplying regions. - Highlights: •We use the stochastic variant of the multi-period Global Gas Model. •We investigate the effects of uncertainty in Russian exports, demand, and shale gas. •We find that LNG is preferred as hedging option in anticipation of uncertain events. •Pipelines may be chosen as recourse decision after uncertain events realized. •China will dominate the global natural gas market regardless the scenario.

From Brand Management to Global Business Management in Market-Driven Companies

OpenAIRE

Emilio Zito

2009-01-01

Over the past several years, the most competitive mass-market companies (automobile, high-tech, consumer and retail, etc.) have been experiencing a new strategic approach around the concept of Market-Driven strategy, as opposed to a pure marketing-focused approach known as Customer-Driven strategy. A fast-moving, mass-market global company would likely have a precise performance measurement system in place with broad performance indicators based on: project economics, ratios analysis (ROI, in...

Global nuclear markets in the context of climate change and sustainable development. Chapter 2

International Nuclear Information System (INIS)

Morrison, R.

2001-01-01

This article (Chapter Two) focuses on the global nuclear markets in the context of policies regarding climate change and sustainable development. The global market realities and the export potential of the canadian nuclear industry are becoming crucial features of the nuclear political economy. The article examines the role of exports in the evolution of nuclear policy in Canada, and looks more closely at nuclear power and CANDU projects in the specific context of global competitive markets. It examines the trends in electricity and nuclear energy in the market for nuclear reactors. Finally, this article locates these changes in the context of the issues that are inherent in climate change and sustainable development

Optimal decisions of countries with carbon tax and carbon tariff

Directory of Open Access Journals (Sweden)

Yumei Hou

2015-05-01

Full Text Available Purpose: Reducing carbon emission has been the core problem of controlling global warming and climate deterioration recently. This paper focuses on the optimal carbon taxation policy levied by countries and the impact on firms’ optimal production decisions. Design/methodology/approach: This paper uses a two-stage game theory model to analyze the impact of carbon tariff and tax. Numerical simulation is used to supplement the theoretical analysis. Findings: Results derived from the paper indicate that the demand in an unstable market is significantly affected by environmental damage level. Carbon tariff is a policy-oriented tax while the carbon tax is a market-oriented one. Comprehensive carbon taxation policy benefit developed countries and basic policy is more suitable for developing countries. Research limitations/implications: In this research, we do not consider random demand and asymmetric information, which may not well suited the reality. Originality/value: This work provides a different perspective in analyzing the impact of carbon tax and tariff. It is the first study to consider two consuming market and the strategic game between two countries. Different international status of countries considered in the paper is also a unique point.

QUANTITATIVE MEASUREMENT AND ASSESSMENT OF THE EFFECTS OF GLOBALIZATION OF COMPANIES AND MARKETS

Directory of Open Access Journals (Sweden)

N. Kovtun

2015-10-01

Full Text Available The results of improving the author’s methodology linked with the assessment of companies’ and markets’ globalization level were presented in this paper. Based on the analysis of the global companies’ and global markets’ features referred to in scientific literature, the specifications which can be used to determine the globalization level of companies and markets were suggested. In addition, the globalization level of the largest top-ten companies (according to the rating of Forbes Global 2000 Leading Companies in 2015 was identified as well as that of corresponding industry markets: auto and truck manufacturers, major banks, software and programming, large department stores (retailers, telecommunication services, electronics producers, electronics, oil and gas operations.

Measuring capital market efficiency: Global and local correlations structure

Czech Academy of Sciences Publication Activity Database

Krištoufek, Ladislav; Vošvrda, Miloslav

2013-01-01

Roč. 392, č. 1 (2013), s. 184-193 ISSN 0378-4371 R&D Projects: GA ČR(CZ) GBP402/12/G097 Institutional support: RVO:67985556 Keywords : Capital market efficiency * Fractal dimension * Long-range dependence * Short-range dependence Subject RIV: AH - Economics Impact factor: 1.722, year: 2013 http://library.utia.cas.cz/separaty/2012/E/kristoufek-measuring capital market efficiency global and local correlations structure.pdf

Natural gas market review 2006 - towards a global gas market

Energy Technology Data Exchange (ETDEWEB)

NONE

2006-07-01

Natural gas is essential to the world economy. Gas now accounts for almost a quarter of OECD primary energy requirements and is expected to become the second most important fuel in the world in the next decade. Industrial and residential consumers increasingly rely on natural gas to keep their houses warm, their lights on and their factories running. Meanwhile the gas industry itself has entered a new phase. Where gas used to be restricted to regional markets, it is now increasingly traded on a global scale. While gas production and transport requires long-term investment, now it is optimised on a short-term basis. Demand continues to grow, but local gas production has become much more expensive. How should we react? How will demand be satisfied? What changes are required to promote flexibility and trade? What are the implications for gas security, investment and interdependence? At stake is an opportunity to diversify supply and demand - but this goal is threatened by barriers to competition and investment. This book is the first of a new IEA publication series. It takes an unprecedented look at developments in natural gas to 2010, analysing not only the three IEA regions (Asia Pacific, North America and Europe) but also broader global trends, such as the interaction of pipeline gas with LNG which binds the regions together. The Review provides invaluable insights for understanding this dynamic market.

Natural gas market review 2006 - towards a global gas market

International Nuclear Information System (INIS)

2006-01-01

Natural gas is essential to the world economy. Gas now accounts for almost a quarter of OECD primary energy requirements and is expected to become the second most important fuel in the world in the next decade. Industrial and residential consumers increasingly rely on natural gas to keep their houses warm, their lights on and their factories running. Meanwhile the gas industry itself has entered a new phase. Where gas used to be restricted to regional markets, it is now increasingly traded on a global scale. While gas production and transport requires long-term investment, now it is optimised on a short-term basis. Demand continues to grow, but local gas production has become much more expensive. How should we react? How will demand be satisfied? What changes are required to promote flexibility and trade? What are the implications for gas security, investment and interdependence? At stake is an opportunity to diversify supply and demand - but this goal is threatened by barriers to competition and investment. This book is the first of a new IEA publication series. It takes an unprecedented look at developments in natural gas to 2010, analysing not only the three IEA regions (Asia Pacific, North America and Europe) but also broader global trends, such as the interaction of pipeline gas with LNG which binds the regions together. The Review provides invaluable insights for understanding this dynamic market

Carbon taxes: Their benefits, liabilities

International Nuclear Information System (INIS)

Kaufmann, R.K.; Thompson, L.L.J.

1993-01-01

A carbon tax holds much promise for helping to reduce global greenhouse gas emissions, but administration will be a problem. Non-compliance, tilting the economic scales in favor of one energy source at the expense of another, and questions of equity between and within nations all must be addressed if the market-based efficiencies of a carbon tax are to become a concrete global reality. This article discusses carbon taxes in the following topic areas: how to set the rates for carbon taxes; administering the tax; international cooperation; type or form of tax; tax adjustments in existing taxes

Evaluation of the Committed Carbon Emissions and Global Warming due to the Permafrost Carbon Feedback

Science.gov (United States)

Elshorbany, Y. F.; Schaefer, K. M.; Jafarov, E. E.; Yumashev, D.; Hope, C.

2017-12-01

We quantify the increase in carbon emissions and temperature due to Permafrost Carbon feedback (PCF), defined as the amplification of anthropogenic warming due to carbon emissions from thawing permafrost (i.e., of near-surface layers to 3 m depth). We simulate the Committed PCF emissions, the cumulative total emissions from thawing permafrost by 2300 for a given global temperature increase by 2100, and investigate the resulting global warming using the Simple Biosphere/Carnegie-Ames-Stanford Approach SiBCASA model. We estimate the committed PCF emissions and warming for the Fifth Assessment Report, Representative Concentration Pathway scenarios 4.5 and 8.5 using two ensembles of five projections. For the 2 °C warming target of the global climate change treaty, committed PCF emissions increase to 24 Gt C by 2100 and 76 Gt C by 2300 and the committed PCF warming is 0.23 °C by 2300. Our calculations show that as the global temperature increase by 2100 approaches 5.8 °C, the entire stock of frozen carbon thaws out, resulting in maximum committed PCF emissions of 560 Gt C by 2300.

The global market for oilseeds: prospects and challenges for Morocco

Directory of Open Access Journals (Sweden)

Gosselet Nathalie

2014-03-01

Full Text Available The global market for oilseeds, grains, vegetable oil and oilseed meal is a complex market which is growing at a very fast pace, and which is characterized by the large volume of production which is traded between countries. Offer is geographically constrained in this market: there are few exporting countries and these are mainly situated on the American continent. Demand on the other hand is more widespread, although highest in Asiatic countries, China in particular. As a result, small importing countries, like Morocco, are in a vulnerable position, and take the full brunt of price volatility. In the 90s, Moroccan oilseed production was relatively high, unfortunately production dropped over the years, and Morocco must now buy vegetable oil and proteins on the global market. Reviving oilseed production in Morocco would considerably help the country and provide numerous benefits, such as food security, improving the country’s trade balance, and enhancing the agronomic management of land thanks to the introduction of break crops. Finally, it would also boost the entire agricultural sector and help increase the income of farmers.

Africa and the global carbon cycle

CSIR Research Space (South Africa)

Williams, CA

2007-03-01

Full Text Available The African continent has a large and growing role in the global carbon cycle, with potentially important climate change implications. However, the sparse observation network in and around the African continent means that Africa is one...

U.S. origin coking coal in the global market : a seismic shift in the global coal market

International Nuclear Information System (INIS)

Thrasher, E.

2010-01-01

This presentation discussed conditions in the global coal market and its impact on producers in the United States (U.S). The significant factors include the strong recovery in Asia, the switch from annual benchmark pricing to quarterly pricing, and the return of U.S. origin coking coal as a long-term supply source for Asia. The global recovery in manufacturing is strong in Asia and weak in more mature economies. A shift in trade patterns has occurred in that 4 of the top 10 destinations for U.S. coking coal exports are now in Asia, up from 1 in 2009, and the tonnage increases to these destinations are at unprecedented levels. Demand for U.S. origin coal will continue to increase as the economies in Western Europe improve and the emerging economies in Eastern Europe and South America grow. Looking at the U.S. coking coal supply, high volume type A coal will be used in the domestic market while high volume type B coal will be used for international demand. Government regulatory agencies create an uncertain environment for investments. Geology and the effects of regulatory actions have decreased productivity. An improvement to the supply chain is that lower cost ocean freight lowers the cost of delivered coal. The prices of coking coal have stabilized at levels that support reasonable returns on investment. The seaborne coking coal market has changed with China's shift to being a significant importer. Mine, rail, and port capacity will constrain the ability of producers in the U.S. to export coking coal to some degree. 2 tabs., 13 figs.

Cosmetic Surgery: Regulatory Challenges in a Global Beauty Market.

Science.gov (United States)

Griffiths, Danielle; Mullock, Alex

2017-02-28

The market for cosmetic surgery tourism is growing with an increase in people travelling abroad for cosmetic surgery. While the reasons for seeking cosmetic surgery abroad may vary the most common reason is financial, but does cheaper surgery abroad carry greater risks? We explore the risks of poorly regulated cosmetic surgery to society generally before discussing how harm might be magnified in the context of cosmetic tourism, where the demand for cheaper surgery drives the market and makes surgery accessible for increasing numbers of people. This contributes to the normalisation of surgical enhancement, creating unhealthy cultural pressure to undergo invasive and risky procedures in the name of beauty. In addressing the harms of poorly regulated surgery, a number of organisations purport to provide a register of safe and ethical plastic surgeons, yet this arguably achieves little and in the absence of improved regulation the risks are likely to grow as the global market expands to meet demand. While the evidence suggests that global regulation is needed, the paper concludes that since a global regulatory response is unlikely, more robust domestic regulation may be the best approach. While domestic regulation may increase the drive towards foreign providers it may also have a symbolic effect which will reduce this drive by making people more aware of the dangers of surgery, both to society and individual physical wellbeing.

Model rules and regulations for a global CO2 emissions credit market

International Nuclear Information System (INIS)

Sandor, R.L.; Cole, J.B.; Kelly, M.E.

1994-01-01

On 21 April 1993, on the occasion of Earth Day, the United States affirmed its commitment to reducing emissions of greenhouse gases to their 1990 levels by the year 2000. In doing so, the United States joined the European Union (EU), Japan, and approximately 141 other countries that had either committed themselves to this international objective or subscribed to the general principles contained in the United Nations Framework Convention on Climate Change, signed at UNCED, Rio de Janeiro, June 1992. The commitment of these three trading groups provides the basis for recommending that a market for tradeable carbon dioxide (CO 2 ) emission entitlements among these groups be implemented as soon as an initial set of rules and regulations can be drafted. The goal of a tradeable CO 2 entitlement or credit market is to lower the cost of limiting emissions. The Costs of CO 2 emission abatement are lowered because the market encourages more emission reductions to be produced by the most efficient resources. The ability easily to selI CO 2 credits created through large emission cuts allows cost recovery by, and incentives for, the most efficient sources of emission reductions. The purpose of this paper is to stimulate debate by providing model rules and regulations for a tradeable CO 2 emission credit market. The trading rules and regulations proposed here are meant to initiate a process whereby participants will iterate toward a final set of rules and regulations. Therefore, our proposal should create a point of departure for further adjustments and transformation to the initial set of recommendations. A specific proposal will be advanced at this point in order to provide a basis for the conceptualization of this global market. Moreover, this specific proposal will help focus dialogue and may provide insight into the general recommendations presented in the balance of this paper

Time-varying correlations in global real estate markets: A multivariate GARCH with spatial effects approach

Science.gov (United States)

Gu, Huaying; Liu, Zhixue; Weng, Yingliang

2017-04-01

The present study applies the multivariate generalized autoregressive conditional heteroscedasticity (MGARCH) with spatial effects approach for the analysis of the time-varying conditional correlations and contagion effects among global real estate markets. A distinguishing feature of the proposed model is that it can simultaneously capture the spatial interactions and the dynamic conditional correlations compared with the traditional MGARCH models. Results reveal that the estimated dynamic conditional correlations have exhibited significant increases during the global financial crisis from 2007 to 2009, thereby suggesting contagion effects among global real estate markets. The analysis further indicates that the returns of the regional real estate markets that are in close geographic and economic proximities exhibit strong co-movement. In addition, evidence of significantly positive leverage effects in global real estate markets is also determined. The findings have significant implications on global portfolio diversification opportunities and risk management practices.

Global carbon stocks and potential emissions due to mangrove deforestation from 2000 to 2012

Science.gov (United States)

Hamilton, Stuart E.; Friess, Daniel A.

2018-03-01

Mangrove forests store high densities of organic carbon, which, when coupled with high rates of deforestation, means that mangroves have the potential to contribute substantially to carbon emissions. Consequently, mangroves are strong candidates for inclusion in nationally determined contributions (NDCs) to the United Nations Framework Convention on Climate Change (UNFCCC), and payments for ecosystem services (PES) programmes that financially incentivize the conservation of forested carbon stocks. This study quantifies annual mangrove carbon stocks from 2000 to 2012 at the global, national and sub-national levels, and global carbon emissions resulting from deforestation over the same time period. Globally, mangroves stored 4.19 Pg of carbon in 2012, with Indonesia, Brazil, Malaysia and Papua New Guinea accounting for more than 50% of the global stock. 2.96 Pg of the global carbon stock is contained within the soil and 1.23 Pg in the living biomass. Two percent of global mangrove carbon was lost between 2000 and 2012, equivalent to a maximum potential of 316,996,250 t of CO2 emissions.

Carbon markets and low-carbon investment in emerging economies: A synthesis of parallel workshops in Brazil and India

International Nuclear Information System (INIS)

Hultman, Nathan E.; Pulver, Simone; Pacca, Sergio; Saran, Samir; Powell, Lydia; Romeiro, Viviane; Benney, Tabitha

2011-01-01

While policy experiments targeted at energy and innovation transitions have not been deployed consistently across all countries, market mechanisms such as carbon pricing have been tested over the past decade in disparate development contexts, and therefore provide some opportunities for analysis. This brief communication reports on two parallel workshops recently held in Sao Paulo, Brazil and New Delhi, India to address questions of how well these carbon pricing policies have worked in affecting corporate decisions to invest in low-carbon technology. Convening practitioners and scholars from multiple countries, the workshops elicited participants' perspectives on business investment decisions under international carbon markets in emerging economies across multiple energy-intensive sectors. We review the resulting perspectives on low-carbon policies and present guidance on a research agenda that could clarify how international and national policies could help encourage both energy transitions and energy innovations in emerging economies.

Fair Trade: Social Regulation in Global Food Markets

Science.gov (United States)

Raynolds, Laura T.

2012-01-01

This article analyzes the theoretical and empirical parameters of social regulation in contemporary global food markets, focusing on the rapidly expanding Fair Trade initiative. Fair Trade seeks to transform North/South relations by fostering ethical consumption, producer empowerment, and certified commodity sales. This initiative joins an array…

Contagion as Domino Effect in Global Stock Markets

NARCIS (Netherlands)

T.D. Markwat (Thijs); H.J.W.G. Kole (Erik); D.J.C. van Dijk (Dick)

2008-01-01

textabstractThis paper shows that stock market contagion operates through a domino effect, where small crashes evolve into more severe crashes. Using a novel unifying framework we model the occurrence of local, regional and global crashes in terms of past occurrences of these different crashes and

Mangrove production and carbon sinks: A revision of global budget estimates

Science.gov (United States)

Bouillon, S.; Borges, A.V.; Castaneda-Moya, E.; Diele, K.; Dittmar, T.; Duke, N.C.; Kristensen, E.; Lee, S.-Y.; Marchand, C.; Middelburg, J.J.; Rivera-Monroy, V. H.; Smith, T. J.; Twilley, R.R.

2008-01-01

Mangrove forests are highly productive but globally threatened coastal ecosystems, whose role in the carbon budget of the coastal zone has long been debated. Here we provide a comprehensive synthesis of the available data on carbon fluxes in mangrove ecosystems. A reassessment of global mangrove primary production from the literature results in a conservative estimate of ???-218 ?? 72 Tg C a-1. When using the best available estimates of various carbon sinks (organic carbon export, sediment burial, and mineralization), it appears that >50% of the carbon fixed by mangrove vegetation is unaccounted for. This unaccounted carbon sink is conservatively estimated at ??? 112 ?? 85 Tg C a-1, equivalent in magnitude to ??? 30-40% of the global riverine organic carbon input to the coastal zone. Our analysis suggests that mineralization is severely underestimated, and that the majority of carbon export from mangroves to adjacent waters occurs as dissolved inorganic carbon (DIC). CO2 efflux from sediments and creek waters and tidal export of DIC appear to be the major sinks. These processes are quantitatively comparable in magnitude to the unaccounted carbon sink in current budgets, but are not yet adequately constrained with the limited published data available so far. Copyright 2008 by the American Geophysical Union.

Global Carbon Cycle of the Precambrian Earth

DEFF Research Database (Denmark)

Wiewióra, Justyna

The carbon isotopic composition of distinct Archaean geological records provides information about the global carbon cycle and emergence of life on early Earth. We utilized carbon isotopic records of Greenlandic carbonatites, diamonds, graphites, marbles, metacarbonates and ultramafic rocks...... in the surface environment and recycled back into the mantle In the third manuscript we investigate the carbon cycle components, which have maintained the carbon isotope composition of the mantle constant through time. Assuming constant organic ratio of the total carbon burial (f), we show that increased.......1‰) and metacarbonate ( -6.1 ± 0.1‰ to +1.5 ± 0.0‰) rocks from the ~3.8 Ga Isua Supracrustal Belt as resulting from the Rayleigh distillation process, which affected the ultramafic reservoir with initial δ13C between -2‰ and 0‰. Due to its high primary δ13C signature, carbon in the Isuan magnesite was most likely...

Quantification of the "global" authigenic carbonate δ13C value and implications for carbon cycling

Science.gov (United States)

Loyd, S. J.

2017-12-01

Relationships among early Earth ocean chemistry, atmospheric chemistry and the evolution/radiation of life have been inferred from carbon isotope compositions (δ13C) of marine carbonates. Under steady-state conditions, the isotope compositions of marine carbonates reflect both the amount and δ13C of carbon entering and leaving the oceans. Recently the traditional "two-output" (marine carbonate and organic matter) mass-balance equation has been modified to include a third, authigenic carbonate output term. However, the formation mechanisms of authigenic carbonates remain poorly understood, particularly from a global prospective. The utility of the new mass-balance approach will be limited until authigenic carbonates are better characterized (e.g., through δ13C analyses). Authigenic carbonates form largely as a result of 1) the respiratory degradation of organic matter (e.g., sulfate reduction), 2) the oxidation of methane and 3) the production of methane. These major reaction pathways can produce authigenic carbonates with highly variable δ13C compositions (δ13Cac). Spatiotemporal variation in the extent and prevalence of different pathways therefore exert a first order control on "global" δ13Cac. Here, values are compiled from new and existing data sets and a modern, global δ13Cac is calculated. When calculated as an average of all data or an averaged mean of individual sites, this value is very similar to normal marine sedimentary organic matter. This finding suggests that marine sediments behave largely as closed systems in the context of organic matter degradation and carbonate authigenesis. In addition, the lack of significant difference between authigenic and organic δ13C implies that these two mass-balance output terms can be considered collectively in more recent time intervals. It may be appropriate to separate these two terms when characterizing more ancient settings when redox characteristics promoted more reducing organic matter degradation

Globalizing Social Welfare and Labor Markets in East and Southeast Asia

DEFF Research Database (Denmark)

Schmidt, Johannes Dragsbæk

2007-01-01

experienced social pressures for restricting the workings of globalization: The first is the fear of job losses through the mechanisms of outsourcing and imports of cheapers industrial products. The second is the anxiety of ethnic and cultural dilution due to the emergence of new patters of labor migration...... and workers negotiate for the promotion of national development and the creation of a civil society which might minimize the adverse effects of globalization! This paper explores the impact of neo-liberal globalization on labor markets and social welfare in East and Southeast Asia. It draws upon recent...... debates in the framework of comparative political economy over the impact of neo-liberal globalization on labor market regulation and social welfare adjustment. The focus is on the radical change of work arrangements with an accompanying loss of the social relevance of the work place and of labour...

Volatility in financial markets: The impact of the global financial crisis

OpenAIRE

Valls Ruiz, Natàlia

2014-01-01

This dissertation focuses on volatility in financial markets, with a special concern for: (i) volatility transmission between different financial markets and asset categories and, (ii) the effect of macroeconomic announcements on the returns, volatility and correlation of stock markets. These issues are analysed taking into account the phenomenon of asymmetric volatility and incorporating the period of financial turmoil caused by the Global Financial Crisis. The study focuses the attention on...

Current Trends in the Nuclear Power Global Market

Directory of Open Access Journals (Sweden)

Mariya Mikhailovna Osetskaya

2018-03-01

Full Text Available The review of the nuclear energy technologies market, namely the main processes of the initial and final stages of the nuclear fuel cycle (NTC was shown. The authors reveal key players in the markets of natural uranium mining, conversion, enrichment, fabrication of nuclear fuel, direct disposal, and reprocessing as well as determine their market shares. The article shows the fundamental factors influencing the development trends of the global nuclear power market such as: units’ commissioning in China, India, the Republic of Korea and other countries, the restart of the Japanese nuclear power plants, growth of uranium supplies long-term contracting planned for the period up to 2025, volatility of world prices of the NFC initial and final stages, political, economic and environmental reasons for the nuclear power generation choice. The article presents the results of analyses of Russian and world prices on the NFC initial and final stages main processes’ allowing to draw a conclusion about the current competitiveness of Russian nuclear energy technologies

Chemistry of organic carbon in soil with relationship to the global carbon cycle

International Nuclear Information System (INIS)

Post, W.M. III.

1988-01-01

Various ecosystem disturbances alter the balances between production of organic matter and its decomposition and therefore change the amount of carbon in soil. The most severe perturbation is conversion of natural vegetation to cultivated crops. Conversion of natural vegetation to cultivated crops results in a lowered input of slowly decomposing material which causes a reduction in overall carbon levels. Disruption of soil matrix structure by cultivation leads to lowered physical protection of organic matter resulting in an increased net mineralization rate of soil carbon. Climate change is another perturbation that affects the amount and composition of plant production, litter inputs, and decomposition regimes but does not affect soil structure directly. Nevertheless, large changes in soil carbon storage are probable with anticipated CO 2 induced climate change, particularly in northern latitudes where anticipated climate change will be greatest (MacCracken and Luther 1985) and large amounts of soil organic matter are found. It is impossible, given the current state of knowledge of soil organic matter processes and transformations to develop detailed process models of soil carbon dynamics. Largely phenomenological models appear to be developing into predictive tools for understanding the role of soil organic matter in the global carbon cycle. In particular, these models will be useful in quantifying soil carbon changes due to human land-use and to anticipated global climate and vegetation changes. 47 refs., 7 figs., 2 tabs

Impact of Global Financial Crisis on Nigerian Stock Market

African Journals Online (AJOL)

DrNneka

Key words: Global financial crisis, Nigerian stock market, currency crisis, ... drop in all economic indices over a relatively short period of time leading to corporate .... magnitude and many countries with sound fundamentals also plunged into a ...

Interactions of Reduced Deforestation and the Carbon Market: The Role of Market Regulations and Future Commitments

OpenAIRE

Anger, Niels; Dixon, Alistair; Livengood, Erich

2009-01-01

Reducing emissions from deforestation and degradation (REDD) has been proposed as a potentially inexpensive and plentiful source of emission abatement to supplement other longterm climate policies. However, critics doubt that REDD credits are environmentally equivalent to domestic emission reductions, and suggest an excess supply may disrupt carbon markets. In this context, we investigate the economic implications of emissions market regulations and future emissions reduction commitments, as ...

Global Energy Market Trends and Learnings from German's Energiewende

International Nuclear Information System (INIS)

Kluesener, P.

2016-01-01

COP21 is the cornerstone for the decarbonization of energy markets globally: for the first time a commitment for the reduction of GHG emissions was reached on a global level. Although the national emission reduction contributions (INDC) don't yet fulfill a 2 degree of C path, they mark a big move in mind set for the need of emission reduction to limit climate change. But how can this goal be reached while sustaining energy supply security and affordability of energy. Germany is a pioneer in terms of a radical change of national energy system, but is the German 'Energiewende' a blue-line print for energy transition in general? Germany has made big progress in the installation of renewables esp. Wind and Solar PV. Installed capacity for Wind and Solar power reached more than 80 GW in 2015, but new installations esp. for Solar PV have significantly slowed down in the recent past after some years of record installation of 7-8 GW per year in 2010-2012. With the growing share of fluctuating renewables such and wind and solar PV the system integration became an issue. There are huge differences in Wind and Solar PV installations between the North and South of Germany. Peaks in power generation either from Wind or Solar can't be operated within the regions anymore. While the transmission line from North to South are missing and construction is substantially delayed, the temporary regional oversupply is managed more or less by power flows into neighbouring countries. Beside the technical aspects there are also economic issues. Despite significant cost reduction for renewables the EEG levy is continuously growing. Due to the regional imbalances the efforts for redispatch of conventional power plants are increasing and thereby the cost for system balance. The share of levies and taxes on retail electricity prices is above 50 percent since some years. So far the policy failed to limit the increase of retail electricity prices but affordability of energy became a greater

IMPACT OF GLOBAL RETAILERS ON REGIONAL MARKET PARTICIPANTS

Directory of Open Access Journals (Sweden)

A. A. Evtyugina

2010-06-01

Full Text Available The given article is focused on a topical subject of global trade networks and the current trends of their development on a regional retail market. The authors believe that deep integration of international networks in the regions significantly increases the competition among network operators in the trade sector and creates a certain challenge for Russian retailers, and require introduction of innovative management techniques, automation of operational processes, expansion of assortment, better service, lower prices, etc. Research and assessment of the parameters given in the article help verifying an effect of international networks on the development process of regional market participants.

Carbon Dioxide and Global Warming: A Failed Experiment

Science.gov (United States)

Ribeiro, Carla

2014-01-01

Global warming is a current environmental issue that has been linked to an increase in anthropogenic carbon dioxide in the atmosphere. To raise awareness of the problem, various simple experiments have been proposed to demonstrate the effect of carbon dioxide on the planet's temperature. This article describes a similar experiment, which…

THE GLOBAL MARKET OF SMALL BUSINESSES BY E-COMMERCE PLATFORMS

Directory of Open Access Journals (Sweden)

Domenico CONSOLI

2016-06-01

Full Text Available Nowadays we live in a global market era. For small businesses (SBs, that do not have financial and human resources, to sell in a big market by an e-commerce platform can be a competitive strategy. The electronic platform can reinforce the weaknesses of an absence of a commercial network to interact with end customers, especially if they live in another country. The platform allows small businesses to operate on the long tail. In fact they can sell also few specific products /services to a large number of people in a global context. Obviously, in economic terms, Small Businesses cannot compete with the big ones that can have most advanced technology and software for information processing. However, for SBs the reduced availability of resources is not an impediment to sell in a global market. Owners of SBs can directley spend and devote part of their free time to support the online sale. Being lean and flexible enterprises they can execute more quickly orders, collected by the website, and therefore the distribution process is more fast. In the paper we describe a research on e-commerce in a small companies sample and in particular an analisys of websites and interviews, in dept, to entrepreneurs.

Renewable energies development: what contribution of the carbon market?

International Nuclear Information System (INIS)

Bordier, Cecile

2008-12-01

In the climate-energy package, the European Union has committed to achieve objectives differentiated by countries to reduce greenhouse gas emissions and developing renewable energies. Part of the emissions reduction must be achieved through a common mechanism to all Member States: the European CO 2 trading market (EU ETS) covers about 40% of emissions of gas European greenhouse from five major industrial sectors, including power generation. The development of renewable energy is the responsibility of each member state. To meet its commitments in terms of renewable energy, each Member State may adopt economic incentives: tendering, purchase prices or green certificates. This Climate Report describes two national policies with different instruments: aid mechanism by prices in France and definition of quantitative targets in the UK. The author attempts to evaluate these policies for the production of renewable electricity in terms of cost per ton of carbon avoided to compare with the price of carbon quotas in the EU ETS. The results show that the cost of national incentive policies for renewable energy per ton of CO 2 avoided varies significantly from one country to another, but in both cases higher than the quota price on the European market. It is difficult to draw definitive conclusions on economic effectiveness of different policy instruments. The first phase of the European exchange of CO 2 quotas market has induced a stress relatively low, weighing mainly on the electricity generation sector. The allocations to the electricity sector have been reduced from 2008 and quotas will be auctioned from 2013 within the limits of an overall ceiling will decrease year by year. This increase in stress on emissions should play a key role in the deployment of CO 2 emission reduction solutions in this sector, including the development of renewable energies. The incentive mechanisms at the national level could complement the impact of the European carbon market by accelerating

The role of forest disturbance in global forest mortality and terrestrial carbon fluxes

Science.gov (United States)

Pugh, Thomas; Arneth, Almut; Smith, Benjamin; Poulter, Benjamin

2017-04-01

Large-scale forest disturbance dynamics such as insect outbreaks, wind-throw and fires, along with anthropogenic disturbances such as logging, have been shown to turn forests from carbon sinks into intermittent sources, often quite dramatically so. There is also increasing evidence that disturbance regimes in many regions are changing as a result of climatic change and human land-management practices. But how these landscape-scale events fit into the wider picture of global tree mortality is not well understood. Do such events dominate global carbon turnover, or are their effects highly regional? How sensitive is global terrestrial carbon exchange to realistic changes in the occurrence rate of such disturbances? Here, we combine recent advances in global satellite observations of stand-replacing forest disturbances and in compilations of forest inventory data, with a global terrestrial ecosystem model which incorporates an explicit representation of the role of disturbance in forest dynamics. We find that stand-replacing disturbances account for a fraction of wood carbon turnover that varies spatially from less than 5% in the tropical rainforest to ca. 50% in the mid latitudes, and as much as 90% in some heavily-managed regions. We contrast the size of the land-atmosphere carbon flux due to this disturbance with other components of the terrestrial carbon budget. In terms of sensitivity, we find a quasi log-linear relationship of disturbance rate to total carbon storage. Relatively small changes in disturbance rates at all latitudes have marked effects on vegetation carbon storage, with potentially very substantial implications for the global terrestrial carbon sink. Our results suggest a surprisingly small effect of disturbance type on large-scale forest vegetation dynamics and carbon storage, with limited evidence of widespread increases in nitrogen limitation as a result of increasing future disturbance. However, the influence of disturbance type on soil carbon

Estimation of Global 1km-grid Terrestrial Carbon Exchange Part II: Evaluations and Applications

Science.gov (United States)

Murakami, K.; Sasai, T.; Kato, S.; Niwa, Y.; Saito, M.; Takagi, H.; Matsunaga, T.; Hiraki, K.; Maksyutov, S. S.; Yokota, T.

2015-12-01

Global terrestrial carbon cycle largely depends on a spatial pattern in land cover type, which is heterogeneously-distributed over regional and global scales. Many studies have been trying to reveal distribution of carbon exchanges between terrestrial ecosystems and atmosphere for understanding global carbon cycle dynamics by using terrestrial biosphere models, satellite data, inventory data, and so on. However, most studies remained within several tens of kilometers grid spatial resolution, and the results have not been enough to understand the detailed pattern of carbon exchanges based on ecological community and to evaluate the carbon stocks by forest ecosystems in each countries. Improving the sophistication of spatial resolution is obviously necessary to enhance the accuracy of carbon exchanges. Moreover, the improvement may contribute to global warming awareness, policy makers and other social activities. We show global terrestrial carbon exchanges (net ecosystem production, net primary production, and gross primary production) with 1km-grid resolution. The methodology for these estimations are shown in the 2015 AGU FM poster "Estimation of Global 1km-grid Terrestrial Carbon Exchange Part I: Developing Inputs and Modelling". In this study, we evaluated the carbon exchanges in various regions with other approaches. We used the satellite-driven biosphere model (BEAMS) as our estimations, GOSAT L4A CO2 flux data, NEP retrieved by NICAM and CarbonTracer2013 flux data, for period from Jun 2001 to Dec 2012. The temporal patterns for this period were indicated similar trends between BEAMS, GOSAT, NICAM, and CT2013 in many sub-continental regions. Then, we estimated the terrestrial carbon exchanges in each countries, and could indicated the temporal patterns of the exchanges in large carbon stock regions.Global terrestrial carbon cycle largely depends on a spatial pattern of land cover type, which is heterogeneously-distributed over regional and global scales. Many

Canada's nuclear industry - a leader in the global market

International Nuclear Information System (INIS)

Saint-Pierre, G.

1994-01-01

The successes of the Canadian nuclear industry at home and abroad are recounted and extolled in this address. It is argued that the industry must become more global in order to compete more effectively in the export market. This means not only setting up operating bases (rather than mere marketing offices) abroad, but also employing nationals of prospective overseas purchasing countries in the headquarters of Canadian companies. Partnership with one or more Asian country may be the key to success

The carbon dioxide thermometer and the cause of global warming

International Nuclear Information System (INIS)

Calder, Nigel

1999-01-01

Carbon dioxide in the air may be increasing because the world is warming. This possibility, which contradicts the hypothesis of an enhanced greenhouse warming driven by manmade emissions, is here pursued in two ways. First, increments in carbon dioxide are treated as readings of a natural thermometer that tracks global and hemispheric temperature deviations, as gauged by meteorologists' thermometers. Calibration of the carbon dioxide thermometer to conventional temperatures then leads to a history of carbon dioxide since 1856 that diverges from the ice-core record. Secondly, the increments of carbon dioxide can also be accounted for, without reference to temperature, by the combined effects of cosmic rays, El Nino and volcanoes. The most durable effect is due to cosmic rays. A solar wind history, used as a long-term proxy for the cosmic rays, gives a carbon dioxide history similar to that inferred from the global temperature deviations. (author)

Designing a carbon market that protects forests in developing countries.

Science.gov (United States)

Niesten, Eduard; Frumhoff, Peter C; Manion, Michelle; Hardner, Jared J

2002-08-15

Firmly incorporated into the Kyoto Protocol, market mechanisms offer an innovative and cost-effective means of controlling atmospheric concentrations of greenhouse gases. However, as with markets for many other goods and services, a carbon market may generate negative environmental externalities. Possible interpretations and application of Kyoto provisions under COP-6bis and COP-7 raise concerns that rules governing forestry with respect to the Kyoto carbon market may increase pressure on native forests and their biodiversity in developing countries. In this paper, we assess the following two specific concerns with Kyoto provisions for forestry measures. First, whether, under the Clean Development Mechanism (CDM), by restricting allowable forestry measures to afforestation and reforestation, and explicitly excluding protection of threatened native forests, the Kyoto Protocol will enhance incentives for degradation and clearing of forests in developing countries; second, whether carbon crediting for forest management in Annex I (industrialized) regions under Article 3.4 creates a dynamic that can encourage displacement of timber harvests from Annex I countries to developing nations. Given current timber extraction patterns in developing regions, additional harvest pressure would certainly entail a considerable cost in terms of biodiversity loss. In both cases, we find that the concerns about deleterious impacts to forests and biodiversity are justified, although the scale of such impacts is difficult to predict. Both to ensure reliable progress in managing carbon concentrations and to avoid unintended consequences with respect to forest biodiversity, the further development of the Kyoto carbon market must explicitly correct these perverse incentives. We recommend several steps that climate policymakers can take to ensure that conservation and restoration of biodiversity-rich natural forests in developing countries are rewarded rather than penalized. To correct

Powernext Carbon, an organized market at the service of the fight against greenhouse effect.

International Nuclear Information System (INIS)

2006-01-01

The European Community directive no 2003/87/CE aims at fighting against climatic change by the implementation of a greenhouse gas emissions trading system. This architecture has been precised in the European Regulation no 2216/2004 relative to the normalized and secured registers system. This document describes the principles of Powernext Carbon, the quotas trading market, launched by Powernext in partnership with Caisse des Depots and Euronext: context, size of the European CO 2 market, regulatory situation, Powernext Carbon - the European CO 2 quotas stock exchange (partnership, architecture, spot products, European members network), theory and practice of Powernext Carbon continuous market (reference electronic platform, 3-step negotiation, invoicing and added value tax, tariffing. (J.S.)

Soil organic matter dynamics and the global carbon cycle

International Nuclear Information System (INIS)

Post, W.M.; Emanuel, W.R.; King, A.W.

1992-01-01

The large size and potentially long residence time of the soil organic matter pool make it an important component of the global carbon cycle. Net terrestrial primary production of about 60 Pg C·yr -1 is, over a several-year period of time, balanced by an equivalent flux of litter production and subsequent decomposition of detritus and soil organic matter. We will review many of the major factors that influence soil organic matter dynamics that need to be explicitly considered in development of global estimates of carbon turnover in the world's soils. We will also discuss current decomposition models that are general enough to be used to develop a representation of global soil organic matter dynamics

Carbon dioxide removal and the futures market

Science.gov (United States)

Coffman, D.'Maris; Lockley, Andrew

2017-01-01

Futures contracts are exchange-traded financial instruments that enable parties to fix a price in advance, for later performance on a contract. Forward contracts also entail future settlement, but they are traded directly between two parties. Futures and forwards are used in commodities trading, as producers seek financial security when planning production. We discuss the potential use of futures contracts in Carbon Dioxide Removal (CDR) markets; concluding that they have one principal advantage (near-term price security to current polluters), and one principal disadvantage (a combination of high price volatility and high trade volume means contracts issued by the private sector may cause systemic economic risk). Accordingly, we note the potential for the development of futures markets in CDR, but urge caution about the prospects for market failure. In particular, we consider the use of regulated markets: to ensure contracts are more reliable, and that moral hazard is minimised. While regulation offers increased assurances, we identify major insufficiencies with this approach—finding it generally inadequate. In conclusion, we suggest that only governments can realistically support long-term CDR futures markets. We note existing long-term CDR plans by governments, and suggest the use of state-backed futures for supporting these assurances.

Grazing the Commons. Global Carbon Emissions Forever?

Energy Technology Data Exchange (ETDEWEB)

Melenberg, B. [CentER and Department of Econometrics and Operations Research, Tilburg University, Tilburg (Netherlands); Vollebergh, H.R.J. [Netherlands Environmental Assessment Agency PBL, Bilthoven (Netherlands); Dijkgraaf, E. [SEOR-ECRi and Tinbergen Institute, Erasmus University Rotterdam, Rotterdam (Netherlands)

2011-02-15

This paper presents the results from our investigation of the per-capita, long-term relation between carbon dioxide emissions and gross domestic product (GDP) for the world, obtained with the use of a new, flexible estimator. Consistent with simple economic growth models, we find that regional, population-weighted per-capita emissions systematically increase with income (scale effect) and usually decline over time (composition and technology effect). Both our in-sample results and out-of-sample scenarios indicate that this negative time effect is unlikely to compensate for the upward-income effect at a global level, in the near future. In particular, even if China's specialization in carbon-intensive industrial sectors would come to a halt, recent trends outside China make a reversal of the overall global trend very unlikely.

Think Local-Act Local: Is It Time to Slow Down the Accelerated Move to Global Marketing?

OpenAIRE

Schuiling, Isabelle

2001-01-01

In view of the accelerated move of great corporations towards global marketing, the strategic changes of such companies raise interesting questions. Is marketing globalization reaching its limits after years of implementation? Is it time for companies to rethink their strategies and move back, like Coca-Cola, to a multi-domestic marketing approach?

Global assessment of promising forest management practices for sequestration of carbon

International Nuclear Information System (INIS)

Winjum, J.K.; Dixon, R.K.; Schroeder, P.E.

1991-01-01

In the 1980s, forests covered an estimated 4.08 billion hectares and contained a carbon pool of 1,400 gigatonnes, or 64% of the total terrestrial pool. Forest biomass productivity per unit of land can be enhanced by proper management practices and it is suggested that by implementing such practices, forests could store more carbon globally and thereby slow the increase in atmospheric CO 2 . Currently, only about 10% of world forests are managed at an active level. An assessment is presented of the amount of carbon that could be sequestered globally by implementing the practices of reforestation, afforestation, natural regeneration, silviculture, and agroforestry. The assessment is based on the development of a global database on managed forest and agroforestry systems. For each of the above five practices, the database contains information on carbon sequestered per hectare, implementation costs, and estimates of the amount of land technically suitable for such practices throughout the world. Results are presented for each practice in the boreal, temperate, and tropical regions. Preliminary estimates show that promising forestry and agroforestry practices could sequester, over a 50-y period, ca 50-100 gigatonnes of carbon at a cost of $170-340 million. This would be a significant contribution as a mitigating measure regarding atmospheric CO 2 buildup and projections for global warming, at present rates of anthropogenic carbon emissions (300-400 gigatonnes carbon over 50 y). 19 refs., 2 figs., 4 tabs

The Emerging Global Education Industry: Analysing Market-Making in Education through Market Sociology

Science.gov (United States)

Verger, Antoni; Steiner-Khamsi, Gita; Lubienski, Christopher

2017-01-01

This paper addresses the rise and consequences of an emerging global education industry (GEI), which represents new forms of private, for profit involvement in education across the globe. The paper explores the emergence within the GEI of new and varied, largely transnational, markets in education by focusing on three examples of the GEI at work.…

The decadal state of the terrestrial carbon cycle : Global retrievals of terrestrial carbon allocation, pools, and residence times

NARCIS (Netherlands)

Bloom, A Anthony; Exbrayat, Jean-François; van der Velde, Ivar R; Feng, Liang; Williams, Mathew

2016-01-01

The terrestrial carbon cycle is currently the least constrained component of the global carbon budget. Large uncertainties stem from a poor understanding of plant carbon allocation, stocks, residence times, and carbon use efficiency. Imposing observational constraints on the terrestrial carbon cycle

The Risk-Return Profiles Of Global Portfolios: Some Evidence From Asia-Pacific And European Equity Markets

OpenAIRE

H. Christine Hsu

2011-01-01

As world financial markets are integrated, national stock markets tend to move together. Empirical evidence on correlations among equity markets worldwide suggests an increasing interdependence between most national markets in recent years. This is disconcerting, to say the least, to investors and portfolio managers seeking risk diversification via global equity investing. The objective of this study is to investigate whether there is still room for global portfolio diversification from the U...

Monthly, global emissions of carbon dioxide from fossil fuel consumption

Energy Technology Data Exchange (ETDEWEB)

Andres, R. J.; Marland, G.; Boden, T. A. (Environmental Sciences Div., Oak Ridge National Laboratory, Oak Ridge, TN (United States)), e-mail: andresrj@ornl.gov; Gregg, J. S. (Risoe DTU National Laboratory for Sustainable Energy, Roskilde (Denmark)); Losey, L. (Dept. of Space Studies, Univ. of North Dakota, Grand Forks, ND (United States))

2011-07-15

This paper examines available data, develops a strategy and presents a monthly, global time series of fossil-fuel carbon dioxide emissions for the years 1950-2006. This monthly time series was constructed from detailed study of monthly data from the 21 countries that account for approximately 80% of global total emissions. These data were then used in a Monte Carlo approach to proxy for all remaining countries. The proportional-proxy methodology estimates by fuel group the fraction of annual emissions emitted in each country and month. Emissions from solid, liquid and gas fuels are explicitly modelled by the proportional-proxy method. The primary conclusion from this study is the global monthly time series is statistically significantly different from a uniform distribution throughout the year. Uncertainty analysis of the data presented show that the proportional-proxy method used faithfully reproduces monthly patterns in the data and the global monthly pattern of emissions is relatively insensitive to the exact proxy assignments used. The data and results presented here should lead to a better understanding of global and regional carbon cycles, especially when the mass data are combined with the stable carbon isotope data in atmospheric transport models

Global Health, Medical Anthropology, and Social Marketing: Steps to the Ecology of Collaboration.

Science.gov (United States)

Whiteford, Linda

2015-06-01

Anthropology and global health have long been a focus of research for both biological and medical anthropologists. Research has looked at physiological adaptations to high altitudes, community responses to water-borne diseases, the integration of traditional and biomedical approaches to health, global responses to HIV/AIDS, and more recently, to the application of cultural approaches to the control of the Ebola epidemic. Academic anthropology has employed theory and methods to extend knowledge, but less often to apply that knowledge. However, anthropologists outside of the academy have tackled global health issues such as family planning and breast-feeding by bringing together applied medical anthropology and social marketing. In 2014, that potent and provocative combination resulted in the University of South Florida in Tampa, Florida being made the home of an innovative center designed to combine academic and applied anthropology with social marketing in order to facilitate social change. This article discusses how inter- and intra-disciplinary research/application has led to the development of Florida's first World Health Organization Collaborating Center (WHO CC), and the first such center to focus on social marketing, social change and non-communicable diseases. This article explains the genesis of the Center and presents readers with a brief overview, basic principles and applications of social marketing by reviewing a case study of a water conservation project. The article concludes with thoughts on the ecology of collaboration among global health, medical anthropology and social marketing practitioners.

Implementing transparency in an Eastern European office market: preparing Warsaw for global investments

Directory of Open Access Journals (Sweden)

Nadine Bitterer

2012-11-01

Full Text Available In the aftermath of an increasing integration of property and financial markets, the real estate industry is subject to soaring internationalization processes. Since international institutional investors appeared, transnational real estate investments have increased tremendously. In recent years, Central and Eastern European countries have been becoming more attractive to institutional investors and are therefore being integrated into international market structures. Within these countries, Warsaw emerged as the most dynamic and important real estate market. But what are the mechanisms and practices through which the real estate market of Warsaw becomes international? Which networks, intermediaries and frames are necessary to constitute a mature real estate market? The article argues that international real estate consultants are playing a crucial role in the underlying internationalization process. They are acting at the interface between investors, developers, construction companies and tenants and are therefore becoming a crucial hinge between real estate actors. With the example of the Warsaw real estate market we argue that international real estate consultancies are key drivers of the transformation process from a local to a global market. They transfer global knowledge, competence and practices and implement transparent and professional structures in the emerging Warsaw real estate market.

Dynamics of the youth travel market on a global level

Directory of Open Access Journals (Sweden)

Timea DEMETER

2015-06-01

Full Text Available The segment of young tourists has been considered a niche market and was treated as a branch of the tourism industry. In the past 10 years, however, its market value has began to increase significantly bringing real benefits to the companies adapting to this segment by developing appropriate strategies and policies. Therefore, the aim of this project is to analyse the dynamics of the youth travel market, on a global level, taking into consideration the international youth arrivals, youth accommodation units and the behavioural habits of young tourists, serving as a starting point in the strategy development process.

Current status of alcohol marketing policy--an urgent challenge for global governance.

Science.gov (United States)

Casswell, Sally

2012-03-01

To review research literature and available information on the extent and impacts of marketing, current policy response and the interests engaged in the policy debate in order to inform recommendations for policy change on alcohol marketing. Relevant literature, including systematic reviews and publicly available information (websites and participant observation) is reviewed and synthesized. Alcohol marketing has expanded markedly in the past 50 years and, while there remains uncertainty about the impact across the population, there is now clear evidence of its impact on the consumption of young people. Few countries have effective policy in place restricting alcohol marketing, and there is a lack of an international response to alcohol marketing which crosses national boundaries. The protection of alcohol marketing has been a major focus for vested interest groups and this has affected governmental response at national and international levels. There has been a lack of non-governmental organization engagement. The policy response to tobacco marketing provides a clear contrast to that of alcohol marketing policy and provides a model for alcohol marketing policy. The global exposure of young people to alcohol marketing requires an urgent policy response. The Framework Convention on Tobacco Control provides an appropriate model for global governance to control alcohol marketing. There are extant examples of national level legislation achieving comprehensive bans with France's Loi Evin providing a feasible model. Resources from philanthropic organizations to allow non-governmental organization engagement are urgently required, as is engagement by the governmental sector independent of commercial influence. © 2012 The Author, Addiction © 2012 Society for the Study of Addiction.

An Analysis of American Animated Movies Marketing Strategies on the Angle of Globalization

Institute of Scientific and Technical Information of China (English)

康静丹

2016-01-01

In a global age, the American animated film in⁃dustry that features a solid industrial foundation with the mature operational mechanism and takes a large share of global market. The thesis is going to illustrate the operational system and pat⁃terns of American animated film industry on the basis of the sta⁃tus quo of American cartoon movie market, to be a reference to the further development of Chinese cartoon movie industry.

Analysis of the transmission characteristics of China's carbon market transaction price volatility from the perspective of a complex network.

Science.gov (United States)

Jia, Jingjing; Li, Huajiao; Zhou, Jinsheng; Jiang, Meihui; Dong, Di

2018-03-01

Research on the price fluctuation transmission of the carbon trading pilot market is of great significance for the establishment of China's unified carbon market and its development in the future. In this paper, the carbon market transaction prices of Beijing, Shanghai, Tianjin, Shenzhen, and Guangdong were selected from December 29, 2013 to March 26, 2016, as sample data. Based on the view of the complex network theory, we construct a price fluctuation transmission network model of five pilot carbon markets in China, with the purposes of analyzing the topological features of this network, including point intensity, weighted clustering coefficient, betweenness centrality, and community structure, and elucidating the characteristics and transmission mechanism of price fluctuation in China's five pilot cities. The results of point intensity and weighted clustering coefficient show that the carbon prices in the five markets remained unchanged and transmitted smoothly in general, and price fragmentation is serious; however, at some point, the price fluctuates with mass phenomena. The result of betweenness centrality reflects that a small number of price fluctuations can control the whole market carbon price transmission and price fluctuation evolves in an alternate manner. The study provides direction for the scientific management of the carbon price. Policy makers should take a positive role in promoting market activity, preventing the risks that may arise from mass trade and scientifically forecasting the volatility of trading prices, which will provide experience for the establishment of a unified carbon market in China.

Simultaneous reproduction of global carbon exchange and storage of terrestrial forest ecosystems

Science.gov (United States)

Kondo, M.; Ichii, K.

2012-12-01

Understanding the mechanism of the terrestrial carbon cycle is essential for assessing the impact of climate change. Quantification of both carbon exchange and storage is the key to the understanding, but it often associates with difficulties due to complex entanglement of environmental and physiological factors. Terrestrial ecosystem models have been the major tools to assess the terrestrial carbon budget for decades. Because of its strong association with climate change, carbon exchange has been more rigorously investigated by the terrestrial biosphere modeling community. Seeming success of model based assessment of carbon budge often accompanies with the ill effect, substantial misrepresentation of storage. In practice, a number of model based analyses have paid attention solely on terrestrial carbon fluxes and often neglected carbon storage such as forest biomass. Thus, resulting model parameters are inevitably oriented to carbon fluxes. This approach is insufficient to fully reduce uncertainties about future terrestrial carbon cycles and climate change because it does not take into account the role of biomass, which is equivalently important as carbon fluxes in the system of carbon cycle. To overcome this issue, a robust methodology for improving the global assessment of both carbon budget and storage is needed. One potentially effective approach to identify a suitable balance of carbon allocation proportions for each individual ecosystem. Carbon allocations can influence the plant growth by controlling the amount of investment acquired from photosynthesis, as well as carbon fluxes by controlling the carbon content of leaves and litter, both are active media for photosynthesis and decomposition. Considering those aspects, there may exist the suitable balance of allocation proportions enabling the simultaneous reproduction of carbon budget and storage. The present study explored the existence of such suitable balances of allocation proportions, and examines the

An exploratory study of services marketing in global markets: major areas of inquiry for the health care services industry.

Science.gov (United States)

Young, S; Erdem, S A

1996-01-01

It has been stated that one of the major challenges for the international marketer is the design of an efficient strategy for marketing services to international markets. This paper reviews some of the issues associated with services marketing in global markets along with the basic variables of service industries. An exploratory assessment of the health care services industry results in a list composed of several inquiry areas which should be examined by multinational companies. It is hoped that the review of the issues raised in this paper provides a basis for decision making and further research.

Global Phosphorus Fertilizer Market and National Policies: A Case Study Revisiting the 2008 Price Peak

Directory of Open Access Journals (Sweden)

Nikolay Khabarov

2017-06-01

Full Text Available The commodity market super-cycle and food price crisis have been associated with rampant food insecurity and the Arab spring. A multitude of factors were identified as culprits for excessive volatility on the commodity markets. However, as it regards fertilizers, a clear attribution of market drivers explaining the emergence of extreme price events is still missing. In this paper, we provide a quantitative assessment of the price spike of the global phosphorus fertilizer market in 2008 focusing on diammonium phosphate (DAP. We find that fertilizer market policies in India, the largest global importer of phosphorus fertilizers and phosphate rock, turned out to be a major contributor to the global price spike. India doubled its import of P-fertilizer in 2008 at a time when prices doubled. The analysis of a wide set of factors pertinent to the 2008 price spike in phosphorus fertilizer market leads us to the discovery of a price spike magnification and triggering mechanisms. We find that the price spike was magnified on the one hand by protective trade measures of fertilizer suppliers leading to a 19% drop in global phosphate fertilizer export. On the other hand, the Indian fertilizer subsidy scheme led to farmers not adjusting their demand for fertilizer. The triggering mechanism appeared to be the Indian production outage of P-fertilizer resulting in the additional import demand for DAP in size of about 20% of annual global supply. The main conclusion is that these three factors have jointly caused the spike, underscoring the need for ex ante improvements in fertilizer market regulation on both national and international levels.

Variability in the carbon storage of seagrass habitats and its implications for global estimates of blue carbon ecosystem service.

Directory of Open Access Journals (Sweden)

Paul S Lavery

Full Text Available The recent focus on carbon trading has intensified interest in 'Blue Carbon'-carbon sequestered by coastal vegetated ecosystems, particularly seagrasses. Most information on seagrass carbon storage is derived from studies of a single species, Posidonia oceanica, from the Mediterranean Sea. We surveyed 17 Australian seagrass habitats to assess the variability in their sedimentary organic carbon (C org stocks. The habitats encompassed 10 species, in mono-specific or mixed meadows, depositional to exposed habitats and temperate to tropical habitats. There was an 18-fold difference in the Corg stock (1.09-20.14 mg C org cm(-3 for a temperate Posidonia sinuosa and a temperate, estuarine P. australis meadow, respectively. Integrated over the top 25 cm of sediment, this equated to an areal stock of 262-4833 g C org m(-2. For some species, there was an effect of water depth on the C org stocks, with greater stocks in deeper sites; no differences were found among sub-tidal and inter-tidal habitats. The estimated carbon storage in Australian seagrass ecosystems, taking into account inter-habitat variability, was 155 Mt. At a 2014-15 fixed carbon price of A$25.40 t(-1 and an estimated market price of $35 t(-1 in 2020, the C org stock in the top 25 cm of seagrass habitats has a potential value of $AUD 3.9-5.4 bill. The estimates of annual C org accumulation by Australian seagrasses ranged from 0.093 to 6.15 Mt, with a most probable estimate of 0.93 Mt y(-1 (10.1 t. km(-2 y(-1. These estimates, while large, were one-third of those that would be calculated if inter-habitat variability in carbon stocks were not taken into account. We conclude that there is an urgent need for more information on the variability in seagrass carbon stock and accumulation rates, and the factors driving this variability, in order to improve global estimates of seagrass Blue Carbon storage.

SWITCHING FROM THE GLOBALIZATION OF MARKETS TO THE GLOBALIZATION OF PRODUCTION AND SERVICES IN A SEMIGLOBALIZED WORLD

OpenAIRE

Serghei M RGULESCU; Elena M RGULESCU

2009-01-01

The retrospective of the theoretical approaches of the phenomenon of economic globalization in the last three decades emphasizes the movement of attention from the globalization of markets, from the\\'80s, to the globalization of production and services in the current decade. This trend is essentially the result of implementing new strategies by multinational companies. It also requires accepting the idea that the current status of the world economy is in reality one of semiglobalization and n...

U.S. Government Electronic Data Sources for Global Marketing Decisions: An Evaluation and Classroom Application.

Science.gov (United States)

Judd, Vaughan C.; Tims, Betty J.

2000-01-01

The U.S. government publishes considerable information applicable to business people interested in global marketing opportunities, much of which is available via the Internet and CD-ROMs. Evaluates the usefulness of four of the government's electronic sources of global marketing information (e.g., the World Fact Book), describing workshops using…

Influence of multiple global change drivers on terrestrial carbon storage

DEFF Research Database (Denmark)

Yue, Kai; Fornara, Dario A; Yang, Wanqin

2017-01-01

The interactive effects of multiple global change drivers on terrestrial carbon (C) storage remain poorly understood. Here, we synthesise data from 633 published studies to show how the interactive effects of multiple drivers are generally additive (i.e. not differing from the sum of their indivi......The interactive effects of multiple global change drivers on terrestrial carbon (C) storage remain poorly understood. Here, we synthesise data from 633 published studies to show how the interactive effects of multiple drivers are generally additive (i.e. not differing from the sum...... additive effects of multiple global change drivers into future assessments of the C storage ability of terrestrial ecosystems....

A New Synthetic Global Biomass Carbon Map for the year 2010

Science.gov (United States)

Spawn, S.; Lark, T.; Gibbs, H.

2017-12-01

Satellite technologies have facilitated a recent boom in high resolution, large-scale biomass estimation and mapping. These data are the input into a wide range of global models and are becoming the gold standard for required national carbon (C) emissions reporting. Yet their geographical and/or thematic scope may exclude some or all parts of a given country or region. Most datasets tend to focus exclusively on forest biomass. Grasslands and shrublands generally store less C than forests but cover nearly twice as much global land area and may represent a significant portion of a given country's biomass C stock. To address these shortcomings, we set out to create synthetic, global above- and below-ground biomass maps that combine recently-released satellite based data of standing forest biomass with novel estimates for non-forest biomass stocks that are typically neglected. For forests we integrated existing publicly available regional, global and biome-specific biomass maps and modeled below ground biomass using empirical relationships described in the literature. For grasslands, we developed models for both above- and below-ground biomass based on NPP, mean annual temperature and precipitation to extrapolate field measurements across the globe. Shrubland biomass was extrapolated from existing regional biomass maps using environmental factors to generate the first global estimate of shrub biomass. Our new synthetic map of global biomass carbon circa 2010 represents an update to the IPCC Tier-1 Global Biomass Carbon Map for the Year 2000 (Ruesch and Gibbs, 2008) using the best data currently available. In the absence of a single seamless remotely sensed map of global biomass, our synthetic map provides the only globally-consistent source of comprehensive biomass C data and is valuable for land change analyses, carbon accounting, and emissions modeling.

The European carbon market (2005-2007): banking, pricing and risk hedging strategies

International Nuclear Information System (INIS)

Chevallier, J.

2008-11-01

This thesis investigates the market rules of the European carbon market (EU ETS) during 2005-2007. We provide theoretical and empirical analyses of banking and borrowing provisions, price drivers and risk hedging strategies attached to tradable quotas, which were introduced to cover the CO 2 emissions of around 10,600 installations in Europe. In Chapter 1, we outline the economic and environmental effects of banking and borrowing on tradable permits markets. More specifically, we examine the banking and borrowing provisions adopted in the EU ETS, and the effects of banning banking between Phases I and II on CO 2 price changes. We show statistically that the low levels of CO 2 prices recorded until the end of Phase I may be explained by the restriction on the inter-period transfer of allowances, besides the main explanations that were identified by market observers. In Chapter 2, we identify the carbon price drivers since the launch of the EU ETS on January 1, 2005. We emphasize the central role played by the 2005 yearly compliance event imposed by the European Commission in revealing the net short/long position at the installation level in terms of allowances allocated with respect to verified emissions. The main result of this study features that price drivers of CO 2 allowances linked to energy market prices and unanticipated weather events vary around institutional events. Moreover, we show the influence of the variation of industrial production in three sectors covered by the EU ETS on CO 2 price changes by applying a disentangling analysis, that has also been extended at the country-level. In Chapter 3, we focus on the risk hedging strategies linked to holding CO 2 allowances. By using a methodology applied on stock markets, we recover the changes in investors' average risk aversion. This study shows that, during the time period considered, risk aversion has been higher on the carbon market than on the stock market, and that the risk is linked to an increasing

Tendances Carbone no. 66 'Understanding the link between macro-economic environment and the EU carbon price'

International Nuclear Information System (INIS)

Chevallier, Julien

2012-01-01

Among the publications of CDC Climat Research, 'Tendances Carbone' bulletin specifically studies the developments of the European market for CO 2 allowances. This issue addresses the following points: The reaction of the carbon price to changes in macro-economic fundamentals can be understood from different levels. My recent academic research has identified two strong linkages. First, there is a link between the EU carbon price and financial markets, such as equity and bond markets. These analyses emphasize how the volatility of the carbon price is affected when financial markets enter 'bull' or 'bear' periods. By estimating various volatility models, carbon futures prices may be weakly forecasted on the basis of two variables from the stock and bond markets, i.e equity dividend yields (returns on stocks) and the 'junk bond' premium (spread between BAA- and AAA-rated bonds). Moreover, by assessing the transmission of international shocks to the carbon market, carbon prices tend to respond negatively to an exogenous recessionary shock on global economic indicators. In consequence, for investments managers, carbon assets such as EUA appear to be well-suited for portfolio diversification since they do not match exactly the business cycle. The second relationship addresses the physical association between industrial production and carbon price changes though the emissions level. The first objective of an academic researcher is to identify the most explanatory variable: in our case, the monthly Eurostat aggregated industrial production index to proxy for changes in macro-economic fundamentals. In the light of the recent periods of economic expansion (2005-2007) and recession (since 2008), several studies can bring fruitful results: - Our results tend to confirm that the carbon market adjusts to the macro-economic environment with a delay due to the specific institutional constraints of the EU ETS. - The relationship between carbon prices and EU industrial production has

Tendances Carbone no. 93. The EU ETS Market Stability Reserve: a debate on its effectiveness

International Nuclear Information System (INIS)

Alberola, Emilie; Desai, Zuheir

2014-07-01

Among the publications of CDC Climat Research, 'Tendances Carbone' bulletin specifically studies the developments of the European market for CO 2 allowances. Beside some statistical figures about energy production/consumption and carbon markets, this issue specifically addresses the following points: - Auctioning of aviation allowances: Will restart from September 2014. - Market Stability Reserve: Germany and France have clarified their positions. Germany wants back loaded allowances to return to the reserve, France suggests setting higher threshold. - EU ETS Phase 4: The EU Commission held its first stakeholder meeting on June 13 to discuss experiences of free allocation with regards to carbon leakage from phases 2 and 3 to improve the fourth phase

International Market Leakage from China’s Forestry Policies

Directory of Open Access Journals (Sweden)

Xin Hu

2014-11-01

Full Text Available Carbon leakage can be a problem when seeking to reduce carbon emissions through forest policy. International market leakage is mainly caused by supply and demand imbalances in the timber market. This paper selects China, which is implementing forestry policy changes, as the research object. We begin by offering a brief analysis of China’s forestry policy changes, such as the logging quota and Six Key Forestry Programs to determine whether those policies affect timber supply. Second, through the use of three shock variables, carbon leakage is simulated under different scenarios by the Global Trade Analysis Project (GTAP model. The results reveal that the magnitude of leakage caused by implementing China’s forestry policies is between 79.7% and 88.8% with carbon leakage mainly displaced to Russia, Southeast Asia, and the EU. Two effective scenarios for reducing market leakage are presented: forest tenure reform and fast growing forest projects to improve domestic timber production, and raising tariffs on timber imports to reduce imports.

Possible restructuring of the worldwide oil market caused by the incidence of carbon tax; Possivel reestruturacao do mercado mundial de petroleo diante da incidencia da taxacao de carbono

Energy Technology Data Exchange (ETDEWEB)

Aguiar, Anna Cecilia J. de; Szklo, Alexandre; Cohen, Claude; Schaeffer, Roberto [Universidade Federal do Rio de Janeiro (UFRJ), RJ (Brazil). Coordenacao dos Programas de Pos-Graduacao de Engenharia (COPPE). Programa de Planejamento Energetico

2008-07-01

In the context of global climate change, carbon taxes, which vary positively with the carbon content of fuels, are seen as one of the main mitigative alternatives.. The incidence of this taxation will impact the relative prices of the different oil products and, possibly, change the demand curves for these products. Also, it will impact oil companies, which will have to adapt themselves to this new policy, so as to avoid, or to minimize, market share losses. However, only in the long term more complex changes in the market structures will be observed. As such, this paper aims at analyzing the relationships between the consumption of oil products in the short and long terms, and their corresponding consumers' income and price elasticities of demand due to carbon taxation, so as to assess their impacts on the World Petroleum Industry (WPI). (author)

The carbon credit market at the electric sector; O mercado de creditos de carbono no setor eletrico

Energy Technology Data Exchange (ETDEWEB)

Huayllas, T.E.C.; Ramos, D.S.; Arnez, R.L.V. [Universidade de Sao Paulo (USP), SP (Brazil)]. E-mails: tesoroelena@pea.usp.br; dorel.ramos@poli.usp.br; ricleon@pea.usp.br

2006-07-01

The main goal of this work is to evaluate the carbon market development regarding important issues such as the sale and purchase negotiations' state of the art in both the international and regional markets. Despite the uncertainties, the carbon market became a reality and is assuming increasing importance as a response to the emissions reduction of the greenhouse gases. At present, the carbon market trading is motivating to international entities, governments and corporations to adopt actions that could contribute to the reduction and commercialization of the greenhouse gases. The contribution of the electric industry to the production of the main greenhouse gases is also an aspect analyzed herein. (author)

Carbon Sequestered, Carbon Displaced and the Kyoto Context

International Nuclear Information System (INIS)

Marland, G.; Schlamadinger, B.

1999-01-01

The integrated system that embraces forest management, forest products, and land-use change impacts the global carbon cycle - and hence the net emission of the greenhouse gas carbon dioxide - in four fundamental ways. Carbon is stored in living and dead biomass, carbon is stored in wood products and landfills, forest products substitute in the market place for products made from other materials, and forest harvests can be used wholly or partially to displace fossil fuels in the energy sector. Implementation of the Kyoto Protocol to the United Nations Framework Convention on Climate Change would result in the creation of international markets for carbon dioxide emissions credits, but the current Kyoto text does not treat all carbon identically. We have developed a carbon accounting model, GORCAM, to examine a variety of scenarios for land management and the production of forest products. In this paper we explore, for two simple scenarios of forest management, the carbon flows that occur and how these might be accounted for under the Kyoto text. The Kyoto protocol raises questions about what activities can result in emissions credits, which carbon reservoirs will be counted, who will receive the credits, and how much credit will be available? The Kyoto Protocol would sometimes give credits for carbon sequestered, but it would always give credits when fossil-fuel carbon dioxide emissions are displaced

Does Beta Explain Global Equity Market Volatility – Some Empirical Evidence

Directory of Open Access Journals (Sweden)

Radosław Kurach

2013-06-01

Full Text Available The purpose of this study is to assess the diversification benefits resulting from international asset allocation. In this study, we examine Capital Asset Pricing Model (CAPM in its international context (ICAPM using the monthly equity returns for 26 countries (18 developed and 8 emerging markets between July 1996 and June 2011 and adopting the US investor’s perspective. We verify the beta-return trade-off employing two approaches: the unconditional trade-off and the conditional relationship. In this latter case, we find the country beta to be a significant variable explaining the cross-country variation of returns. Next, we test the degree of market integration in the light of the ICAPM. The results of this test indicate that country-idiosyncratic risks are generally not priced. In the subsidiary outcomes of our verification procedure, we argue that country betas are time-varying and that currently, global factors are the dominant source of equity market volatility. Consequently, the opinion regarding emerging market assets and their role in global portfolio management should be reconsidered. The results of the entire study may provide essential implications for fund managers because the decreasing international diversification gains have been identified.

Composting, anaerobic digestion and biochar production in Ghana. Environmental–economic assessment in the context of voluntary carbon markets

International Nuclear Information System (INIS)

Galgani, Pietro; Voet, Ester van der; Korevaar, Gijsbert

2014-01-01

Highlights: • Economic–environmental assessment of combining composting with biogas and biochar in Ghana. • These technologies can save greenhouse gas emissions for up to 0.57 t CO 2 eq/t of waste treated. • Labor intensive, small-scale organic waste management is not viable without financial support. • Carbon markets would make these technologies viable with carbon prices in the range of 30–84 EUR/t. - Abstract: In some areas of Sub-Saharan Africa appropriate organic waste management technology could address development issues such as soil degradation, unemployment and energy scarcity, while at the same time reducing emissions of greenhouse gases. This paper investigates the role that carbon markets could have in facilitating the implementation of composting, anaerobic digestion and biochar production, in the city of Tamale, in the North of Ghana. Through a life cycle assessment of implementation scenarios for low-tech, small scale variants of the above mentioned three technologies, the potential contribution they could give to climate change mitigation was assessed. Furthermore an economic assessment was carried out to study their viability and the impact thereon of accessing carbon markets. It was found that substantial climate benefits can be achieved by avoiding landfilling of organic waste, producing electricity and substituting the use of chemical fertilizer. Biochar production could result in a net carbon sequestration. These technologies were however found not to be economically viable without external subsidies, and access to carbon markets at the considered carbon price of 7 EUR/ton of carbon would not change the situation significantly. Carbon markets could help the realization of the considered composting and anaerobic digestion systems only if the carbon price will rise above 75–84 EUR/t of carbon (respectively for anaerobic digestion and composting). Biochar production could achieve large climate benefits and, if approved as a land

Composting, anaerobic digestion and biochar production in Ghana. Environmental–economic assessment in the context of voluntary carbon markets

Energy Technology Data Exchange (ETDEWEB)

Galgani, Pietro, E-mail: p.galgani@hotmail.com [Department of Industrial Ecology, Institute of Environmental Sciences, Leiden University, Van Steenis gebouw, Einsteinweg 2, 2333CC Leiden (Netherlands); Voet, Ester van der [Department of Industrial Ecology, Institute of Environmental Sciences, Leiden University, Van Steenis gebouw, Einsteinweg 2, 2333CC Leiden (Netherlands); Korevaar, Gijsbert [Department of Energy and Industry, Faculty of Technology, Policy, and Management, Delft University of Technology, Jaffalaan 5, 2628 BX Delft (Netherlands)

2014-12-15

Highlights: • Economic–environmental assessment of combining composting with biogas and biochar in Ghana. • These technologies can save greenhouse gas emissions for up to 0.57 t CO{sub 2} eq/t of waste treated. • Labor intensive, small-scale organic waste management is not viable without financial support. • Carbon markets would make these technologies viable with carbon prices in the range of 30–84 EUR/t. - Abstract: In some areas of Sub-Saharan Africa appropriate organic waste management technology could address development issues such as soil degradation, unemployment and energy scarcity, while at the same time reducing emissions of greenhouse gases. This paper investigates the role that carbon markets could have in facilitating the implementation of composting, anaerobic digestion and biochar production, in the city of Tamale, in the North of Ghana. Through a life cycle assessment of implementation scenarios for low-tech, small scale variants of the above mentioned three technologies, the potential contribution they could give to climate change mitigation was assessed. Furthermore an economic assessment was carried out to study their viability and the impact thereon of accessing carbon markets. It was found that substantial climate benefits can be achieved by avoiding landfilling of organic waste, producing electricity and substituting the use of chemical fertilizer. Biochar production could result in a net carbon sequestration. These technologies were however found not to be economically viable without external subsidies, and access to carbon markets at the considered carbon price of 7 EUR/ton of carbon would not change the situation significantly. Carbon markets could help the realization of the considered composting and anaerobic digestion systems only if the carbon price will rise above 75–84 EUR/t of carbon (respectively for anaerobic digestion and composting). Biochar production could achieve large climate benefits and, if approved as a land

The potential global market size and public health value of an HIV-1 vaccine in a complex global market.

Science.gov (United States)

Marzetta, Carol A; Lee, Stephen S; Wrobel, Sandra J; Singh, Kanwarjit J; Russell, Nina; Esparza, José

2010-07-05

An effective HIV vaccine will be essential for the control of the HIV pandemic. This study evaluated the potential global market size and value of a hypothetical HIV vaccine and considered clade diversity, disease burden, partial prevention of acquisition, impact of a reduction in viral load resulting in a decrease in transmission and delay to treatment, health care system differences regarding access, and HIV screening and vaccination, across all public and private markets. Vaccine product profiles varied from a vaccine that would have no effect on preventing infection to a vaccine that would effectively prevent infection and reduce viral load. High disease burden countries (HDBC; HIV prevalence > or = 1%) were assumed to routinely vaccinate pre-sexually active adolescents (10 years old), whereas low disease burden countries (LDBC; HIV prevalence rate market value of $210 million to $2.7 billion, depending on the vaccine product profile. If one-time catch-up campaigns were included (11-14 years old for HDBC and higher risk groups for LDBC), the additional cumulative approximately 70-237 million doses were needed over a 10-year period with a potential market value of approximately $695 million to $13.4 billion, depending on the vaccine product profile. Market size and value varied across market segments with the majority of the value in high income countries and the majority of the demand in low income countries. However, the value of the potential market in low income countries is still significant with up to $550 million annually for routine vaccination only and up to $1.7 billion for a one-time only catch-up campaign in 11-14 years old. In the most detail to date, this study evaluated market size and value of a potential multi-clade HIV vaccine, accounting for differences in disease burden, product profile and health care complexities. These findings provide donors and suppliers highly credible new data to consider in their continued efforts to develop an HIV-1

Global land-use and market interactions between climate and bioenergy policies

Science.gov (United States)

Golub, A.; Hertel, T. W.; Rose, S. K.

2011-12-01

Over the past few years, interest in bioenergy has boomed with higher oil prices and concerns about energy security, farm incomes, and mitigation of climate change. Large-scale commercial bioenergy production could have far reaching implications for regional and global land use and output markets associated with food, forestry, chemical, and energy sectors, as well as household welfare. Similarly, there is significant interest in international agricultural and forestry based carbon sequestration and greenhouse gas (GHG) mitigation policies, which could also provide revenue to developing countries and farmers in exchange for modifying land management practices. However, bioenergy and climate policies are being formulated largely independent of one another. Understanding the interaction between these potentially competing policy objectives is important for identifying possible constraints that one policy might place on the other, potential complementarities that could be exploited in policy design, and net land-use change and management implications over time. This study develops a new dynamic global computable general equilibrium (CGE) model GDyn-E-AEZ to assess the interaction between biofuels production and climate mitigation policies. The model is built on several existing CGE platforms, including 1) GTAP-AEZ-GHG model (Golub et al., 2009), 2) GTAP-BIO (Birur et al., 2008; Taheripour and Tyner, 2011), and 3) GDyn framework (Ianchovichina and McDougall, 2001) extended to investigate the role of population and per capita income growth, changing consumption patterns, and global economic integration in determining long-run patterns of land-use change. The new model is used to assess the effects of domestic and global bioenergy expansion on future land use, as well as sectoral, regional and global GHG emissions mitigation potential. Do bioenergy programs facilitate or constrain GHG mitigation opportunities? For instance, Golub et al. (2009) estimate substantial GHG

Effects of raising US interest rates on global FX markets

Directory of Open Access Journals (Sweden)

Kožul Nataša

2016-01-01

Full Text Available Following the global financial crisis of 2008, many countries decreased their domestic interest rates as a means of stimulating economic growth, while also providing protection from substantial default on debt. Low interest rates reduce the incentive to save, prompting consumers to purchase assets, such as housing, thus implicitly increasing wealth. In addition, they make the currency relatively cheaper, making exports more competitive, while reducing foreign demand for holding debt in that currency. All these should stimulate economy, albeit at the cost of reduced competitiveness in the world financial markets, where return on investment is largely determined by the interest rates. Low interest rates also prompt greater borrowing, which may not be sustainable once they start to rise. In addition, those that largely depend on interest rate income may seek more speculative and high-risk investments, potentially leading to significant defaults. Finally, as the market interest rate is composed of the real rate and inflation, decreasing rates changes the balance in this relationship, which may lead to inflationary economy. Now that the US has increased its domestic rates for the first time since 2006, it is important to examine the potential effects this will have on global markets and other economies. This paper offers some insights into the dynamics of the FX markets and discusses why the US rate is so closely watched worldwide.

Certification of Markets, Markets of Certificates: Tracing Sustainability in Global Agro-Food Value Chains

Directory of Open Access Journals (Sweden)

Arthur P. J. Mol

2015-09-01

Full Text Available There is a blossoming of voluntary certification initiatives for sustainable agro-food products and production processes. With these certification initiatives come traceability in supply chains, to guarantee the sustainability of the products consumed. No systematic analysis exists of traceability systems for sustainability in agro-food supply chains. Hence, the purpose of this article is to analyze the prevalence of four different traceability systems to guarantee sustainability; to identify the factors that determine the kind of traceability systems applied in particular supply chains; and to assess what the emergence of economic and market logics in traceability mean for sustainability. Two conclusions are drawn. Globalizing markets for sustainable agro-food products induces the emergence of book-and-claim traceability systems, but the other three systems (identity preservation, segregation and mass balance will continue to exist as different factors drive traceability requirements in different supply chains. Secondly, traceability itself is becoming a market driven by economic and market logics, and this may have consequences for sustainability in agro-food supply chains in the future.

The role of boreal forests and forestry in the global carbon budget : a synthesis

Energy Technology Data Exchange (ETDEWEB)

Fyles, I.H.; Shaw, C.H.; Apps, M.J.; Karjalainen, T.; Stocks, B.J.; Running, S.W.; Kurz, W.A.; Weyerhaeuser, G.Jr.; Jarvis, P.G.

2002-10-01

This paper provides a synthesis of all papers presented at the conference on the role of boreal forests in the global carbon budget. The scientific community is recognizing the critical links between boreal forest ecosystems, carbon dynamics and global climate change. This paper addresses the five main topics discussed at the conference including: (1) carbon stocks and fluxes, (2) the effects of natural disturbances on carbon dynamics, (3) effects of management practices on carbon dynamics, (4) afforestation and carbon sequestration, and (5) effects of climate change and elevated carbon dioxide concentration on carbon dynamics. Large-scale model simulations suggest that increased global temperatures will result in increased net ecosystem productivity (NEP). Several model simulations also indicate that net primary productivity (NPP) will increase. While most forest stands are currently carbon sinks, disturbances such as fire, insects and tree harvesting make forests susceptible to becoming a source of carbon. In contrast, some studies suggest that climate change will cause shifting vegetation patterns, increased soil carbon and higher forest productivity that may result in higher sequestration of carbon in the boreal forest. 84 refs.

A global carbon assimilation system based on a dual optimization method

Science.gov (United States)

Zheng, H.; Li, Y.; Chen, J. M.; Wang, T.; Huang, Q.; Huang, W. X.; Wang, L. H.; Li, S. M.; Yuan, W. P.; Zheng, X.; Zhang, S. P.; Chen, Z. Q.; Jiang, F.

2015-02-01

Ecological models are effective tools for simulating the distribution of global carbon sources and sinks. However, these models often suffer from substantial biases due to inaccurate simulations of complex ecological processes. We introduce a set of scaling factors (parameters) to an ecological model on the basis of plant functional type (PFT) and latitudes. A global carbon assimilation system (GCAS-DOM) is developed by employing a dual optimization method (DOM) to invert the time-dependent ecological model parameter state and the net carbon flux state simultaneously. We use GCAS-DOM to estimate the global distribution of the CO2 flux on 1° × 1° grid cells for the period from 2001 to 2007. Results show that land and ocean absorb -3.63 ± 0.50 and -1.82 ± 0.16 Pg C yr-1, respectively. North America, Europe and China contribute -0.98 ± 0.15, -0.42 ± 0.08 and -0.20 ± 0.29 Pg C yr-1, respectively. The uncertainties in the flux after optimization by GCAS-DOM have been remarkably reduced by more than 60%. Through parameter optimization, GCAS-DOM can provide improved estimates of the carbon flux for each PFT. Coniferous forest (-0.97 ± 0.27 Pg C yr-1) is the largest contributor to the global carbon sink. Fluxes of once-dominant deciduous forest generated by the Boreal Ecosystems Productivity Simulator (BEPS) are reduced to -0.78 ± 0.23 Pg C yr-1, the third largest carbon sink.

Dynamic Interaction between Cap & Trade and Electricity Markets

Science.gov (United States)

Jeev, Kumar

Greenhouse Gases (GHG), such as Carbon-Dioxide (CO2), which is released in the atmosphere due to anthropogenic activities like power production, are now accepted as the main culprits for global warming. The Regional Greenhouse Gas Initiative (RGGI), an initiative of the North East and Mid-Atlantic States of the United States (US) for limiting the emission of GHG, has developed a regional cap-and-trade program for CO2 emissions for power plants. Existing cap-and-trade programs in US and Europe for Greenhouse Gases have recently been plagued by over-allocation. Carbon prices recently collapsed in all these markets during the global recession. Since then, there have been significant policy changes, which have resulted in the adoption of aggressive emission cap targets by most major carbon emission markets. This is expected to make carbon emissions availability more restrictive, raising the prices of these credits. These emissions markets are expected to have a major impact on the wholesale electricity markets. Two models to study the interaction of these two markets are presented. These models assess the impact of the emissions market on wholesale electricity prices. The first model characterizes the competition between two types of power plants (coal and gas) in both the electricity and emissions markets as a dynamic game using the Cournot approximation. Under this approximation, we find that in the Nash equilibrium the plants increase their permit allocation to high-demand periods and the marginal value of each credit for a plant is identical in all periods under their optimal equilibrium strategy. The second numerical model allows us to explicitly evaluate the closed loop equilibrium of the dynamic interaction of two competitors in these markets. We find that plants often try to corner the market and push prices all the way to the price cap. Power plants derive most of their profits from these extreme price regimes. In the experiments where trading is allowed

Trends in the market of poultry production in the conditions of globalization

Directory of Open Access Journals (Sweden)

Kyryliuk O.F.

2017-12-01

Full Text Available according to the author, in modern conditions of globalization of food markets, the researching the state of the domestic market of poultry products in order to provide the population with high-grade food products is important. It is established that the formation of demand in the poultry market is mainly due to production by domestic producers, while imports for the period under review are being reduced and meet mainly the needs of processing industry enterprises.

Techniques for Analyzing the Attractiveness of International Commodity Markets Under Conditions of Economic Globalization

Directory of Open Access Journals (Sweden)

Olha Pryhara

2006-03-01

Full Text Available This article examines existing techniques and proposes its own for analyzing the attractiveness of international commodity markets in light of the globalization of world economic processes. Taking into account the supranational nature of the world economic environment when examining categories in the attractiveness of international commodity markets, the author introduces a multilevel system of indicators: market attractiveness at the mega-level – global level; market attractiveness at the macro-level national level; market attractiveness at the mezo-level – level of an individual sector. The attractiveness of international commodity markets is considered to be the degree of conformity between market environment factors and the mega-, macro- and mezo-levels of the economic interests of enterprises concerning the entry into and strategies for their activity on the international commodity markets in the short-, medium- and long-term. The author designs a stage-by-stage technique for strategically analyzing the attractiveness of international commodity markets in order to frame efficient market strategies of enterprises. Relying on the proposed techniques, she rates the integrated indicators of market accessibility and the possibility of realizing the economic interests of enterprises in target markets, bringing the index data into a matrix of «market accessibility – opportunity for realizing the economic interests of enterprises.» The analysis of a country’s position in the matrix makes it possible to frame efficient market strategies for enterprises.

Statistical regularities of Carbon emission trading market: Evidence from European Union allowances

Science.gov (United States)

Zheng, Zeyu; Xiao, Rui; Shi, Haibo; Li, Guihong; Zhou, Xiaofeng

2015-05-01

As an emerging financial market, the trading value of carbon emission trading market has definitely increased. In recent years, the carbon emission allowances have already become a way of investment. They are bought and sold not only by carbon emitters but also by investors. In this paper, we analyzed the price fluctuations of the European Union allowances (EUA) futures in European Climate Exchange (ECX) market from 2007 to 2011. The symmetric and power-law probability density function of return time series was displayed. We found that there are only short-range correlations in price changes (return), while long-range correlations in the absolute of price changes (volatility). Further, detrended fluctuation analysis (DFA) approach was applied with focus on long-range autocorrelations and Hurst exponent. We observed long-range power-law autocorrelations in the volatility that quantify risk, and found that they decay much more slowly than the autocorrelation of return time series. Our analysis also showed that the significant cross correlations exist between return time series of EUA and many other returns. These cross correlations exist in a wide range of fields, including stock markets, energy concerned commodities futures, and financial futures. The significant cross-correlations between energy concerned futures and EUA indicate the physical relationship between carbon emission and energy production process. Additionally, the cross-correlations between financial futures and EUA indicate that the speculation behavior may become an important factor that can affect the price of EUA. Finally we modeled the long-range volatility time series of EUA with a particular version of the GARCH process, and the result also suggests long-range volatility autocorrelations.

Panorama 2014 - Overview of new carbon markets at international level

International Nuclear Information System (INIS)

Coussy, Paula

2013-12-01

Although carbon prices on the European Emissions Trading Scheme (ETS) are at their lowest since 2008 and international negotiations in relation to the United Nations Framework Convention on Climate Change have been stagnating since the 2009 Copenhagen Agreement, nearly seventeen emissions trading markets have been identified at international level. Without counting the European ETS which has existed since 2005, eleven new markets have emerged since 2008 and a further five are set to commence trading in 2014. Of these eleven active markets, five are in Asia, three are in North America, one is in Oceania, one is in Central Asia and one is in Europe. It should be pointed out that to date, no markets are scheduled to begin trading in Africa. Although four markets have announced their intention to work together between now and 2020, the creation of an international emissions trading scheme is not on the immediate horizon. (author)

Carbon Market and Integrated Waste Solutions : a Case Study of ...

International Development Research Centre (IDRC) Digital Library (Canada)

Carbon Market and Integrated Waste Solutions : a Case Study of Indonesia ... dual purpose of helping developing countries achieve sustainable development ... with a view to devising integrated waste management solutions in urban centres ... and disseminate them through national, regional and international networks.

THE GLOBAL MARKET OF SMALL BUSINESSES BY E-COMMERCE PLATFORMS

OpenAIRE

Domenico CONSOLI

2016-01-01

Nowadays we live in a global market era. For small businesses (SBs), that do not have financial and human resources, to sell in a big market by an e-commerce platform can be a competitive strategy. The electronic platform can reinforce the weaknesses of an absence of a commercial network to interact with end customers, especially if they live in another country. The platform allows small businesses to operate on the long tail. In fact they can sell also few specific products /services to a la...

A globally integrated climate policy for Canada

International Nuclear Information System (INIS)

Bernstein, S.; Brunnee, J.; Duff, D.G.; Green, A.J.

2008-01-01

This book explored policy ideas and options from various perspectives, including science, law, political science, economics and sociology. The costs, opportunities and imperatives to participate in international diplomatic initiatives were considered along with the opportunities of regional global carbon markets. Canada's current policy on climate change negotiations have been focused on domestic regulation and incentives for technological responses and the setting of a domestic carbon price. The sense of urgency about global warming was discussed and the need for action to respond to the threat of global climate change was emphasized. The book also reviewed Canada's role in international climate policies and presented parameters and imperatives for global regime building in Canada. Domestic policy tools were also reviewed along with policy obstacles and opportunities. refs., tabs., figs.

The global financial crisis: Is there any contagion between real estate and equity markets?

Science.gov (United States)

Hui, Eddie Chi-man; Chan, Ka Kwan Kevin

2014-07-01

This study examines contagion across equity and securitized real estate markets of Hong Kong, US and UK during the global financial crisis by the Forbes-Rigobon, coskewness and cokurtosis tests. In particular, this is the first study to use the cokurtosis test to examine contagion between real estate and equity markets. The results show that the cokurtosis test can detect additional channels of contagion, and hence is a more powerful test. In contrary to Fry et al. (2010), we find that the cokurtosis test shows a highly significant evidence of contagion between the equity and real estate markets in both directions. In particular, the contagion between US's equity and real estate markets is the most significant. This reflects that US is the centre of shock of the global financial crisis.

Mapping the global health employment market: an analysis of global health jobs.

Science.gov (United States)

Keralis, Jessica M; Riggin-Pathak, Brianne L; Majeski, Theresa; Pathak, Bogdan A; Foggia, Janine; Cullinen, Kathleen M; Rajagopal, Abbhirami; West, Heidi S

2018-02-27

The number of university global health training programs has grown in recent years. However, there is little research on the needs of the global health profession. We therefore set out to characterize the global health employment market by analyzing global health job vacancies. We collected data from advertised, paid positions posted to web-based job boards, email listservs, and global health organization websites from November 2015 to May 2016. Data on requirements for education, language proficiency, technical expertise, physical location, and experience level were analyzed for all vacancies. Descriptive statistics were calculated for the aforementioned job characteristics. Associations between technical specialty area and requirements for non-English language proficiency and overseas experience were calculated using Chi-square statistics. A qualitative thematic analysis was performed on a subset of vacancies. We analyzed the data from 1007 global health job vacancies from 127 employers. Among private and non-profit sector vacancies, 40% (n = 354) were for technical or subject matter experts, 20% (n = 177) for program directors, and 16% (n = 139) for managers, compared to 9.8% (n = 87) for entry-level and 13.6% (n = 120) for mid-level positions. The most common technical focus area was program or project management, followed by HIV/AIDS and quantitative analysis. Thematic analysis demonstrated a common emphasis on program operations, relations, design and planning, communication, and management. Our analysis shows a demand for candidates with several years of experience with global health programs, particularly program managers/directors and technical experts, with very few entry-level positions accessible to recent graduates of global health training programs. It is unlikely that global health training programs equip graduates to be competitive for the majority of positions that are currently available in this field.

Globalization, Labor Markets and Inequality in India | CRDI - Centre ...

International Development Research Centre (IDRC) Digital Library (Canada)

30 janv. 2008 ... India started on a program of reforms, both in its external and internal aspects, in the mid-1980s. While the increased exposure to world markets (globalization) and relaxation of domestic controls has undoubtedly given a spurt to the GDP growth rate, the impact of reforms on poverty, inequality and ...

An empirical analysis of freight rate and vessel price volatility transmission in global dry bulk shipping market

Directory of Open Access Journals (Sweden)

Lei Dai

2015-10-01

Full Text Available Global dry bulk shipping market is an important element of global economy and trade. Since newbuilding and secondhand vessels are often traded as assets and the freight rate is the key determinant of vessel price, it is important for shipping market participants to understand the market dynamics and price transmission mechanism over time to make suitable strategic decisions. To address this issue, a multi-variate GARCH model was applied in this paper to explore the volatility spillover effects across the vessel markets (including newbuilding and secondhand vessel markets and freight market. Specifically, the BEKK parameterization of the multi-variate GARCH model (BEKK GARCH was proposed to capture the volatility transmission effect from the freight market, newbuilding and secondhand vessel markets in the global dry bulk shipping industry. Empirical results reveal that significant volatility transmission effects exist in each market sector, i.e. capesize, panamax, handymax and handysize. Besides, the market volatility transmission mechanism varies among different vessel types. Moreover, some bilateral effects are found in the dry bulk shipping market, showing that lagged variances could affect the current variance in a counterpart market, regardless of the volatility transmission. A simple ratio is proposed to guide investors optimizing their portfolio allocations. The findings in this paper could provide unique insights for investors to understand the market and hedge their portfolios well.

The Global Influence of Cloud Optical Thickness on Terrestrial Carbon Uptake

Science.gov (United States)

Zhu, P.; Cheng, S. J.; Keppel-Aleks, G.; Butterfield, Z.; Steiner, A. L.

2016-12-01

Clouds play a critical role in regulating Earth's climate. One important way is by changing the type and intensity of solar radiation reaching the Earth's surface, which impacts plant photosynthesis. Specifically, the presence of clouds modifies photosynthesis rates by influencing the amount of diffuse radiation as well as the spectral distribution of solar radiation. Satellite-derived cloud optical thickness (COT) may provide the observational constraint necessary to assess the role of clouds on ecosystems and terrestrial carbon uptake across the globe. Previous studies using ground-based observations at individual sites suggest that below a COT of 7, there is a greater increase in light use efficiency than at higher COT values, providing evidence for higher carbon uptake rates than expected given the reduction in radiation by clouds. However, the strength of the COT-terrestrial carbon uptake correlation across the globe remains unknown. In this study, we investigate the influence of COT on terrestrial carbon uptake on a global scale, which may provide insights into cloud conditions favorable for plant photosynthesis and improve our estimates of the land carbon sink. Global satellite-derived MODIS data show that tropical and subtropical regions tend to have COT values around or below the threshold during growing seasons. We find weak correlations between COT and GPP with Fluxnet MTE global GPP data, which may be due to the uncertainty of upscaling GPP from individual site measurements. Analysis with solar-induced fluorescence (SIF) as a proxy for GPP is also evaluated. Overall, this work constructs a global picture of the role of COT on terrestrial carbon uptake, including its temporal and spatial variations.

Global emission inventory and atmospheric transport of black carbon. Evaluation of the associated exposure

Energy Technology Data Exchange (ETDEWEB)

Wang, Rong

2015-06-01

This thesis presents research focusing on the improvement of high-resolution global black carbon (BC) emission inventory and application in assessing the population exposure to ambient BC. A particular focus of the thesis is on the construction of a high-resolution (both spatial and sectorial) fuel consumption database, which is used to develop the emission inventory of black carbon. Above all, the author updates the global emission inventory of black carbon, a resource subsequently used to study the atmospheric transport of black carbon over Asia with the help of a high-resolution nested model. The thesis demonstrates that spatial bias in fuel consumption and BC emissions can be reduced by means of the sub-national disaggregation approach. Using the inventory and nested model, ambient BC concentrations can be better validated against observations. Lastly, it provides a complete uncertainty analysis of global black carbon emissions, and this uncertainty is taken into account in the atmospheric modeling, helping to better understand the role of black carbon in regional and global air pollution.

Role of volcanic forcing on future global carbon cycle

Directory of Open Access Journals (Sweden)

J. F. Tjiputra

2011-06-01

Full Text Available Using a fully coupled global climate-carbon cycle model, we assess the potential role of volcanic eruptions on future projection of climate change and its associated carbon cycle feedback. The volcanic-like forcings are applied together with a business-as-usual IPCC-A2 carbon emissions scenario. We show that very large volcanic eruptions similar to Tambora lead to short-term substantial global cooling. However, over a long period, smaller eruptions similar to Pinatubo in amplitude, but set to occur frequently, would have a stronger impact on future climate change. In a scenario where the volcanic external forcings are prescribed with a five-year frequency, the induced cooling immediately lower the global temperature by more than one degree before it returns to the warming trend. Therefore, the climate change is approximately delayed by several decades, and by the end of the 21st century, the warming is still below two degrees when compared to the present day period. Our climate-carbon feedback analysis shows that future volcanic eruptions induce positive feedbacks (i.e., more carbon sink on both the terrestrial and oceanic carbon cycle. The feedback signal on the ocean is consistently smaller than the terrestrial counterpart and the feedback strength is proportionally related to the frequency of the volcanic eruption events. The cooler climate reduces the terrestrial heterotrophic respiration in the northern high latitude and increases net primary production in the tropics, which contributes to more than 45 % increase in accumulated carbon uptake over land. The increased solubility of CO₂ gas in seawater associated with cooler SST is offset by a reduced CO₂ partial pressure gradient between the ocean and the atmosphere, which results in small changes in net ocean carbon uptake. Similarly, there is nearly no change in the seawater buffer capacity simulated between the different volcanic scenarios. Our study shows that even

Competition and wage effects in the global online market for microwork and services outsourcing

NARCIS (Netherlands)

Beerepoot, N.; Lambregts, B.; Nicholson, B.; Babin, R.; Lacity, M.C.

2016-01-01

A new form of service outsourcing has emerged, namely the global online job marketplace for freelance contractors. Such platforms are currently the closest proxy to the idea of a global labor market. In this chapter, we examine how competition manifests itself on one such global online platform,

Global Carbon Reservoir Oxidative Ratios

Science.gov (United States)

Masiello, C. A.; Gallagher, M. E.; Hockaday, W. C.

2010-12-01

Photosynthesis and respiration move carbon and oxygen between the atmosphere and the biosphere at a ratio that is characteristic of the biogeochemical processes involved. This ratio is called the oxidative ratio (OR) of photosynthesis and respiration, and is defined as the ratio of moles of O2 per moles of CO2. This O2/CO2 ratio is a characteristic of biosphere-atmosphere gas fluxes, much like the 13C signature of CO2 transferred between the biosphere and the atmosphere has a characteristic signature. OR values vary on a scale of 0 (CO2) to 2 (CH4), with most ecosystem values clustered between 0.9 and 1.2. Just as 13C can be measured for both carbon fluxes and carbon pools, OR can also be measured for fluxes and pools and can provide information about the processes involved in carbon and oxygen cycling. OR values also provide information about reservoir organic geochemistry because pool OR values are proportional to the oxidation state of carbon (Cox) in the reservoir. OR may prove to be a particularly valuable biogeochemical tracer because of its ability to couple information about ecosystem gas fluxes with ecosystem organic geochemistry. We have developed 3 methods to measure the OR of ecosystem carbon reservoirs and intercalibrated them to assure that they yield accurate, intercomparable data. Using these tools we have built a large enough database of biomass and soil OR values that it is now possible to consider the implications of global patterns in ecosystem OR values. Here we present a map of the natural range in ecosystem OR values and begin to consider its implications. One striking pattern is an apparent offset between soil and biospheric OR values: soil OR values are frequently higher than that of their source biomass. We discuss this trend in the context of soil organic geochemistry and gas fluxes.

Global anthropogenic emissions of particulate matter including black carbon

Science.gov (United States)

Klimont, Zbigniew; Kupiainen, Kaarle; Heyes, Chris; Purohit, Pallav; Cofala, Janusz; Rafaj, Peter; Borken-Kleefeld, Jens; Schöpp, Wolfgang

2017-07-01

This paper presents a comprehensive assessment of historical (1990-2010) global anthropogenic particulate matter (PM) emissions including the consistent and harmonized calculation of mass-based size distribution (PM1, PM2. 5, PM10), as well as primary carbonaceous aerosols including black carbon (BC) and organic carbon (OC). The estimates were developed with the integrated assessment model GAINS, where source- and region-specific technology characteristics are explicitly included. This assessment includes a number of previously unaccounted or often misallocated emission sources, i.e. kerosene lamps, gas flaring, diesel generators, refuse burning; some of them were reported in the past for selected regions or in the context of a particular pollutant or sector but not included as part of a total estimate. Spatially, emissions were calculated for 172 source regions (as well as international shipping), presented for 25 global regions, and allocated to 0.5° × 0.5° longitude-latitude grids. No independent estimates of emissions from forest fires and savannah burning are provided and neither windblown dust nor unpaved roads emissions are included. We estimate that global emissions of PM have not changed significantly between 1990 and 2010, showing a strong decoupling from the global increase in energy consumption and, consequently, CO2 emissions, but there are significantly different regional trends, with a particularly strong increase in East Asia and Africa and a strong decline in Europe, North America, and the Pacific region. This in turn resulted in important changes in the spatial pattern of PM burden, e.g. European, North American, and Pacific contributions to global emissions dropped from nearly 30 % in 1990 to well below 15 % in 2010, while Asia's contribution grew from just over 50 % to nearly two-thirds of the global total in 2010. For all PM species considered, Asian sources represented over 60 % of the global anthropogenic total, and residential combustion

Global anthropogenic emissions of particulate matter including black carbon

Directory of Open Access Journals (Sweden)

Z. Klimont

2017-07-01

Full Text Available This paper presents a comprehensive assessment of historical (1990–2010 global anthropogenic particulate matter (PM emissions including the consistent and harmonized calculation of mass-based size distribution (PM1, PM2. 5, PM10, as well as primary carbonaceous aerosols including black carbon (BC and organic carbon (OC. The estimates were developed with the integrated assessment model GAINS, where source- and region-specific technology characteristics are explicitly included. This assessment includes a number of previously unaccounted or often misallocated emission sources, i.e. kerosene lamps, gas flaring, diesel generators, refuse burning; some of them were reported in the past for selected regions or in the context of a particular pollutant or sector but not included as part of a total estimate. Spatially, emissions were calculated for 172 source regions (as well as international shipping, presented for 25 global regions, and allocated to 0.5°  ×  0.5° longitude–latitude grids. No independent estimates of emissions from forest fires and savannah burning are provided and neither windblown dust nor unpaved roads emissions are included. We estimate that global emissions of PM have not changed significantly between 1990 and 2010, showing a strong decoupling from the global increase in energy consumption and, consequently, CO2 emissions, but there are significantly different regional trends, with a particularly strong increase in East Asia and Africa and a strong decline in Europe, North America, and the Pacific region. This in turn resulted in important changes in the spatial pattern of PM burden, e.g. European, North American, and Pacific contributions to global emissions dropped from nearly 30 % in 1990 to well below 15 % in 2010, while Asia's contribution grew from just over 50 % to nearly two-thirds of the global total in 2010. For all PM species considered, Asian sources represented over 60 % of the global

Estimation of Global 1km-grid Terrestrial Carbon Exchange Part I: Developing Inputs and Modelling

Science.gov (United States)

Sasai, T.; Murakami, K.; Kato, S.; Matsunaga, T.; Saigusa, N.; Hiraki, K.

2015-12-01

Global terrestrial carbon cycle largely depends on a spatial pattern in land cover type, which is heterogeneously-distributed over regional and global scales. However, most studies, which aimed at the estimation of carbon exchanges between ecosystem and atmosphere, remained within several tens of kilometers grid spatial resolution, and the results have not been enough to understand the detailed pattern of carbon exchanges based on ecological community. Improving the sophistication of spatial resolution is obviously necessary to enhance the accuracy of carbon exchanges. Moreover, the improvement may contribute to global warming awareness, policy makers and other social activities. In this study, we show global terrestrial carbon exchanges (net ecosystem production, net primary production, and gross primary production) with 1km-grid resolution. As methodology for computing the exchanges, we 1) developed a global 1km-grid climate and satellite dataset based on the approach in Setoyama and Sasai (2013); 2) used the satellite-driven biosphere model (Biosphere model integrating Eco-physiological And Mechanistic approaches using Satellite data: BEAMS) (Sasai et al., 2005, 2007, 2011); 3) simulated the carbon exchanges by using the new dataset and BEAMS by the use of a supercomputer that includes 1280 CPU and 320 GPGPU cores (GOSAT RCF of NIES). As a result, we could develop a global uniform system for realistically estimating terrestrial carbon exchange, and evaluate net ecosystem production in each community level; leading to obtain highly detailed understanding of terrestrial carbon exchanges.

Environmental implications of carbon limits on market ...

Science.gov (United States)

Combined heat and power (CHP) is promoted as an economical, energy-efficient option for combating climate change. To fully examine the viability of CHP as a clean-technology solution, its market potential and impacts need to be analyzed as part of scenarios of the future energy system, particularly those with policies limiting greenhouse gas (GHG) emissions. This paper develops and analyzes scenarios using a bottom-up, technology rich optimization model of the U.S. energy system. Two distinct carbon reduction goals were set up for analysis. In Target 1, carbon emission reduction goals were only included for the electric sector. In Target 2, carbon emission reduction goals were set across the entire energy system with the target patterned after the U.S.’s commitment to reducing GHG emissions as part of the Paris Agreement reached at the COP21 summit. From a system-wide carbon reduction standpoint, Target 2 is significantly more stringent. In addition, these scenarios examine the implications of various CHP capacity expansion and contraction assumptions and energy prices. The largest CHP capacity expansion are observed in scenarios that included Target 1, but investments were scaled back in scenarios that incorporated Target 2. The latter scenario spurred rapid development of zero-emissions technologies within the electric sector, and purchased electricity increased dramatically in many end-use sectors. The results suggest that CHP may play a role in a carbon-c

Concurrent Engineering with IT-Tools for successful industrial products in a global market

DEFF Research Database (Denmark)

Conrad, Finn

2003-01-01

The paper presents and discusses research results concerning Concurrent Engineering with IT-Tools for Successful Industrial Products on a Global Market. Concurrent Engineering, often is called just ¿CE¿, that is a systematic approach to the integrated, concurrent design of products and related...... on the world market and the increasing global public demands, requirements and regulations for protection of the environment are both driving forces and challenges for improving the development of control and engineering design. There has always been an ongoing desire to develop and design systems to improve...... performance of products, productivity and efficiency of process operations. Smart use of simulation and modelling IT tools can improve many enterprises ability to compete and survive on the market. European Enterprises developing, designing and manufacturing hydraulic components and hydraulic systems...

Power Deals. Mergers and acquisitions activity within the global electricity and gas market. 2008 Annual Review

International Nuclear Information System (INIS)

2009-01-01

2008 was the year in which power deal values came down from their record-breaking highs of the two preceding years as the financial crisis and a number of market uncertainties had a negative impact on deal activity. Nonetheless, total deal numbers leapt by 24% as companies concentrated on smaller deals and took advantage of new opportunities that arose in the changed market conditions. Europe was least affected by the downturn in deal values and accounted for over half of all bidder and target power deal value. In contrast, power deals in Australia, which had previously been a main motor of growing M and A activity in the Asia Pacific region, virtually stalled as uncertainty over new carbon emission policies combined with the financial crisis to deter deal flow. In North America, like Europe, big deals were fewer but underlying deal activity was comparable with previous years. This report examines the rationale behind the overall trends and the key individual deals. We also highlight, in a series of deal dialogues throughout the report, some of the critical issues for companies engaging in deal activity within the sector, drawing on our global experience as an adviser to players in major deals throughout the sector in all key electricity and gas utilities markets. Looking to the future, the easing of the financial crisis will be key to deal flow but the near-term outlook looks less robust than the recent past, especially as debt markets will be further constrained by calls from the public financing required to support government bail-out programmes. Set against this, the underlying imperatives of consolidation, supply security and capitalisation remain in place and will create increasing pent-up deal demand. A lower energy price environment will change the metrics for more expensive cleaner power assets, placing an even higher importance on the outcome of global climate talks and the run-up to the December 2009 UN Climate Summit in Copenhagen

Power Deals. Mergers and acquisitions activity within the global electricity and gas market. 2008 Annual Review

Energy Technology Data Exchange (ETDEWEB)

NONE

2009-01-15

2008 was the year in which power deal values came down from their record-breaking highs of the two preceding years as the financial crisis and a number of market uncertainties had a negative impact on deal activity. Nonetheless, total deal numbers leapt by 24% as companies concentrated on smaller deals and took advantage of new opportunities that arose in the changed market conditions. Europe was least affected by the downturn in deal values and accounted for over half of all bidder and target power deal value. In contrast, power deals in Australia, which had previously been a main motor of growing M and A activity in the Asia Pacific region, virtually stalled as uncertainty over new carbon emission policies combined with the financial crisis to deter deal flow. In North America, like Europe, big deals were fewer but underlying deal activity was comparable with previous years. This report examines the rationale behind the overall trends and the key individual deals. We also highlight, in a series of deal dialogues throughout the report, some of the critical issues for companies engaging in deal activity within the sector, drawing on our global experience as an adviser to players in major deals throughout the sector in all key electricity and gas utilities markets. Looking to the future, the easing of the financial crisis will be key to deal flow but the near-term outlook looks less robust than the recent past, especially as debt markets will be further constrained by calls from the public financing required to support government bail-out programmes. Set against this, the underlying imperatives of consolidation, supply security and capitalisation remain in place and will create increasing pent-up deal demand. A lower energy price environment will change the metrics for more expensive cleaner power assets, placing an even higher importance on the outcome of global climate talks and the run-up to the December 2009 UN Climate Summit in Copenhagen.

Will EU Biofuel Policies affect Global Agricultural Markets?

International Nuclear Information System (INIS)

Banse, M.; Vvan Meijl, H.; Tabeau, A.; Woltjer, G.

2008-04-01

This paper assesses the global and sectoral implications of the European Union Biofuels Directive (BFD) in a multi-region computable general equilibrium framework with endogenous determination of land supply. The results show that, without mandatory blending policies or subsidies to stimulate the use of biofuel crops in the petroleum sector, the targets of the BFD will not be met in 2010 and 2020. With a mandatory blending policy, the enhanced demand for biofuel crops has a strong impact on agriculture at the global and European levels. The additional demand from the energy sector leads to an increase in global land use and, ultimately, a decrease in biodiversity. The development, on the other hand, might slow or reverse the long-term process of declining real agricultural prices. Moreover, assuming a further liberalization of the European agricultural market imports of biofuels are expected to increase to more than 50% of the total biofuel demand in Europe

Modeling of the global carbon cycle - isotopic data requirements

International Nuclear Information System (INIS)

Ciais, P.

1994-01-01

Isotopes are powerful tools to constrain carbon cycle models. For example, the combinations of the CO 2 and the 13 C budget allows to calculate the net-carbon fluxes between atmosphere, ocean, and biosphere. Observations of natural and bomb-produced radiocarbon allow to estimate gross carbon exchange fluxes between different reservoirs and to deduce time scales of carbon overturning in important reservoirs. 18 O in CO 2 is potentially a tool to make the deconvolution of C fluxes within the land biosphere (assimilation vs respirations). The scope of this article is to identify gaps in our present knowledge about isotopes in the light of their use as constraint for the global carbon cycle. In the following we will present a list of some future data requirements for carbon cycle models. (authors)

Estimation of the global climate effect of brown carbon

Science.gov (United States)

Zhang, A.; Wang, Y.; Zhang, Y.; Weber, R. J.; Song, Y.

2017-12-01

Carbonaceous aerosols significantly affect global radiative forcing and climate through absorption and scattering of sunlight. Black carbon (BC) and brown carbon (BrC) are light-absorbing carbonaceous aerosols. The global distribution and climate effect of BrC is uncertain. A recent study suggests that BrC absorption is comparable to BC in the upper troposphere over biomass burning region and that the resulting heating tends to stabilize the atmosphere. Yet current climate models do not include proper treatments of BrC. In this study, we derived a BrC global biomass burning emission inventory from Global Fire Emissions Database 4 (GFED4) and developed a BrC module in the Community Atmosphere Model version 5 (CAM5) of Community Earth System Model (CESM) model. The model simulations compared well to BrC observations of the Studies of Emissions, Atmospheric Composition, Clouds and Climate Coupling by Regional Surveys (SEAC4RS) and Deep Convective Clouds and Chemistry Project (DC-3) campaigns and includes BrC bleaching. Model results suggested that BrC in the upper troposphere due to convective transport is as important an absorber as BC globally. Upper tropospheric BrC radiative forcing is particularly significant over the tropics, affecting the atmosphere stability and Hadley circulation.

Policy Approaches for Regulating Alcohol Marketing in a Global Context: A Public Health Perspective.

Science.gov (United States)

Esser, Marissa B; Jernigan, David H

2018-04-01

Alcohol consumption is responsible for 3.3 million deaths globally or nearly 6% of all deaths. Alcohol use contributes to both communicable and noncommunicable diseases, as well as violence and injuries. The purpose of this review is to discuss, in the context of the expansion of transnational alcohol corporations and harms associated with alcohol use, policy options for regulating exposure to alcohol marketing. We first provide an overview of the public health problem of harmful alcohol consumption and describe the association between exposure to alcohol marketing and alcohol consumption. We then discuss the growth and concentration of global alcohol corporations and their marketing practices in low- and middle-income countries, as well as in higher-income societies. We review the use and effectiveness of various approaches for regulating alcohol marketing in various countries before discussing challenges and opportunities to protect public health.

Modeling variation in global consumer’ participation behaviour intentions using an institutional market index

NARCIS (Netherlands)

Schumann, J.H.; Nijssen, E.J.; Lentz, P.

2014-01-01

Purpose Enhancing customer participation behaviour (CPB) is critical for service firms. However, in a global context, cultural and local market factors are relevant. This study details how and why global service firms can and should account for such factors. Prior research relied on cultural value

Globalization and Institutional Change : Are Emerging Market Economies in Europe and Asia Converging?

NARCIS (Netherlands)

Hoen, Herman W.

2014-01-01

It is often stated that globalization leads to a smaller world by institutional convergence. Politico-economic orders become alike across the world. The article analyzes institutional change triggered by the global financial crisis of 2008/2009 and compares developments in emerging markets in Europe

Accommodating Global Markets: Malaysia's Response to Economic Crisis

OpenAIRE

Helen Nesadurai

1998-01-01

The East Asian financial crisis has shown how governments in affected countries have had to contend both with the external constraint imposed by global capital mobility and domestic political dynamics when instituting adjustment to the crisis. Some commentators see the reform process in the East Asian states as an outcome of the disciplining behaviour of financial markets that will lead to the complete dismantling of those structures that supported the state- directed developmentalist mode of...

Global assessment of ocean carbon export by combining satellite observations and food-web models

Science.gov (United States)

Siegel, D. A.; Buesseler, K. O.; Doney, S. C.; Sailley, S. F.; Behrenfeld, M. J.; Boyd, P. W.

2014-03-01

The export of organic carbon from the surface ocean by sinking particles is an important, yet highly uncertain, component of the global carbon cycle. Here we introduce a mechanistic assessment of the global ocean carbon export using satellite observations, including determinations of net primary production and the slope of the particle size spectrum, to drive a food-web model that estimates the production of sinking zooplankton feces and algal aggregates comprising the sinking particle flux at the base of the euphotic zone. The synthesis of observations and models reveals fundamentally different and ecologically consistent regional-scale patterns in export and export efficiency not found in previous global carbon export assessments. The model reproduces regional-scale particle export field observations and predicts a climatological mean global carbon export from the euphotic zone of 6 Pg C yr-1. Global export estimates show small variation (typically model parameter values. The model is also robust to the choices of the satellite data products used and enables interannual changes to be quantified. The present synthesis of observations and models provides a path for quantifying the ocean's biological pump.

The EU as a global ecological power: The logics of market integration

International Nuclear Information System (INIS)

Laurent, Eloi; Le Cacheux, Jacques

2010-05-01

In this paper, we try to show how the EU became a global ecological power, i.e. a power that influences environmental policies throughout the world. While the existing literature stresses the significance of normative power, regulatory politics and multi-level governance in this process, we highlight the importance of what we call the logics of market integration. By that we mean the decisive role of Single market integration in fostering convergence of environmental policies at the European level as well as in extending European influence at the global level. We illustrate our approach with the case of climate policy, detailing the EU's influence on economic instruments developed worldwide to mitigate climate change. (authors)

Biochar: Promoting citizen driven carbon capture economies by developing science-inspired products that create a pull in the biochar market.

Science.gov (United States)

Hood-Nowotny, Rebecca; Ziss, Elisabeth

2017-04-01

Prevention of catastrophic climate change requires push-pull mechanisms to attain critical mass engagement in reducing global carbon emissions or through large scale carbon capture, which is currently administered through international carbon trading schemes. Unfortunately the formal carbon trading market appears to be in disarray, as there is crisis of trust in the system; as a result the carbon credit prices are low and investment in solutions has almost ground to a halt. However there is still a public and commercial demand for trustworthy carbon credit products; consequently a vibrant and growing market. With this in mind we wanted to develop high value carbon-based substitution products for glass house production that that could have significant peripheral benefits to create market pull mechanisms. We systematically tested a variety biochar based products in hydroponic growing systems and commercial nursery scenarios, to determine their potential as substitute products. Results suggested that the high pH of the raw-biochar produced rendered it unsuitable for hydroponic production. Blending and buffering of the biochar for plant production was investigated and showed greater promise with comparable production potential. In another arm of horticultural production millions of cubic metres of peat are used across Europe each year. Biochar has a number of comparable properties to peat, it holds water, forms air pockets or pores to provide oxygen to plant roots and allows for drainage, it is light and most importantly it is sterile. In combination with other horticultural media such as compost, biochar blends could be a viable alternative to peat. Although there has been an explosion of research into the effect of biochar as a soil amendment, most of these publications deal with the impact of biochar on the carbon sequestration capacity of soils however few address the peripheral benefits of biochar on soil water holding capacity specifically in a horticultural