Handbook of Environmental and Sustainable Finance
Handbook of Environmental and Sustainable Finance
Editor: Ramiah, Vikash
Publication Year: 2016
Publisher: Elsevier Science & Technology
Single-User Purchase Price:
$119.94

Unlimited-User Purchase Price:
$179.91
ISBN: 978-0-12-803615-0
Category: Business, Finance & Economics - Economics
Image Count:
48
Book Status: Available
Table of Contents
Delivers a comprehensive portrait of environmental finance, from presentations of empirical examples to explorations of theoretical and regulatory issues.
This book is found in the following Credo Collections:
Table of Contents
- List of Contributors
- Editors' Biography
- Contributors' Biography
- Acknowledgments
- Section 1: Environmental Regulations Post the Kyoto Protocol on Climate Change
- 1. Climate Change and Kyoto Protocol An Overview
- 1.1 Introduction
- 1.2 Global Warming
- 1.2.1 Current Evidence of Climate Change
- 1.2.2 Future Effects
- 1.2.3 Measures Required
- 1.3 United Nations Framework Convention on Climate Change
- 1.3.1 Objectives of UNFCCC
- 1.3.2 UNFCCC—Secretariat
- 1.3.3 Bodies of UNFCCC
- 1.4 Kyoto Protocol
- 1.4.1 Mechanisms of Kyoto Protocol
- 1.5 CDM: Project Eligibility, Project Cycle, and Executive Board
- 1.5.1 CDM Project Eligibility
- 1.5.2 CDM Project Cycle
- 1.5.3 CDM Executive Board
- 1.6 Carbon Finance and Types of Emission Reduction Credits
- 1.7 Climate Finance
- 1.8 National Level Emission Trading Systems
- 1.8.1 European Union: EUETS
- 1.8.2 Switzerland: Swiss ETS
- 1.8.3 New Zealand: NZ ETS
- 1.8.4 Australia: Australian ETS
- 1.8.5 Kazakhstan: ETS
- 1.8.6 China: Pilot Carbon Trading System
- 1.8.7 South Korea: Korean ETS
- 1.8.8 India: PAT Scheme
- 1.9 Kyoto Protocol: Journey and Current Developments
- 1.10 Conclusion
- References
- 2. Environmental Policies Post the Kyoto Protocol on Climate Change Evidence from the US and Japan
- 2.1 Introduction
- 2.2 Acid Rain
- 2.3 Asbestos
- 2.4 Agriculture
- 2.5 Electric Utilities
- 2.6 Climate Change
- 2.7 Oil and Gas Extraction Sector
- 2.8 Toxic Release Inventory
- 2.9 Construction Sector
- 2.10 Transportation Sector
- 2.11 Oil Spills and Hazardous Substance Releases
- 2.12 Risk Management Plan Rule
- 2.13 Water
- 2.14 Japanese Environmental Policies (MoE Environmental Policy)
- 2.14.1 Basic Environment Plan
- 2.14.2 Environment and Economy
- 2.14.3 Environment and Taxation
- 2.14.4 Environment Assessment
- 2.14.5 Environment and Education for Sustainable Development
- 2.14.6 Environment and Research and Technology
- 2.15 Global Environment
- 2.16 Waste and Recycling
- 2.17 Air and Transportation
- 2.18 Water, Soil, and the Ground Environment
- 2.19 Health and Chemicals
- 2.20 Nature and Parks
- 2.21 Conclusion
- References
- 3. Efficiency of U.S. State EPA Emission Rate Goals for 2030 A Data Envelopment Analysis Approach
- 3.1 Introduction
- 3.2 Literature Review
- 3.3 Methodology
- 3.3.1 Envelopment Model
- 3.3.2 Cross Efficiency
- 3.3.3 Super Efficiency
- 3.4 Data
- 3.5 Results
- 3.6 Conclusion
- Acknowledgment
- References
- Section 2: Environmental Economics
- 4. Environmental Water Governance in the Murray-Darling Basin of Australia The Movement from Regulation and Engineering to Economic-Based Instruments
- 4.1 Introduction
- 4.2 Water Management Governance Tools
- 4.2.1 Demand and Supply Water Management Strategies
- 4.3 The Murray-Darling Basin
- 4.4 Phases in Australia's Water Management in the MDB
- 4.4.1 The Establishment and Exploration Phase
- 4.4.2 The Development and Supply Phase
- 4.4.3 The Scarcity Phase and Factors Contributing to the Introduction of Economic Instruments
- 4.4.3.1 The Rising Cost of Supply Management
- 4.4.3.2 Environmental Concern
- 4.4.3.3 Macroeconomic Factors
- 4.5 The Development and Extension of Economic Instruments in the MDB
- 4.5.1 Overview of Twenty-First Century MDB Water Reform
- 4.5.2 Development of Water Markets in the MDB
- 4.5.3 COAG Reforms and the “Cap”
- 4.5.4 The National Water Initiative (2004)
- 4.5.4.1 Unbundling of Water Rights
- 4.5.4.2 The Living Murray Program
- 4.5.5 The Water Act and Institutional Change (2007)
- 4.5.6 Water for the Future Initiative (2010)
- 4.5.7 The Basin Plan (2012)
- 4.6 Future Policy Directions
- 4.7 Conclusion
- Appendix A: List of Abbreviations
- References
- 5. Damages Evaluation, Periodic Floods, and Local Sea Level Rise The Case of Venice, Italy
- 5.1 Introduction
- 5.2 Data and Methods
- 5.3 Results
- 5.4 Conclusion
- Acknowledgments
- References
- 6. Corporate Social Responsibility and Macroeconomic Uncertainty
- 6.1 Introduction
- 6.2 CSR and Macroeconomic Uncertainty
- 6.3 Data
- 6.3.1 Events Data
- 6.3.2 Cumulative Abnormal Return
- 6.3.2.1 Conditional Volatility of CAR (Vol)
- 6.3.3 Capturing Market Conditions
- 6.3.4 Summary Statistics
- 6.4 Empirical Findings
- 6.4.1 Main Findings
- 6.4.2 Robustness Checks
- 6.5 Conclusion
- Acknowledgments
- References
- 7. Public Value of Environmental Investments A Conceptual Outlook on the Management of Normatively Determined Risks
- 7.1 Introduction
- 7.2 The Rise of Environmental Investments
- 7.3 Historical Backgrounds
- 7.4 Public Value Theory and Normative Value Creation
- 7.5 Empirical Evidence on Public Value Measurement: The Public Value Atlas
- 7.6 Public Value and Reputational Risks
- 7.7 Hedging Normative Risks by Buying a Put-on Public Value
- 7.8 Conclusion
- References
- 8. What Holds Back Eco-innovations? A “Green Growth Diagnostics” Approach
- 8.1 Introduction
- 8.2 Eco-innovation for Greening Growth
- 8.2.1 Innovations as Enabler for Greening Growth
- 8.2.2 The Concept of Eco-innovation
- 8.3 What Holds Back Eco-innovations?
- 8.3.1 A Conceptual Frame
- 8.3.2 Low Appropriability
- 8.3.2.1 Market Failures
- 8.3.2.2 Governance Failures
- 8.3.3 Low Economic Returns
- 8.4 Identifying and Prioritizing Barriers to Eco-innovation
- 8.4.1 Prioritizing Policies toward Eco-innovation
- 8.4.2 Green Growth Diagnostics: A Useful Tool for Prioritizing?
- 8.5 Conclusion
- References
- Appendix 1
- 9. Trade Openness and CO2 Emission Evidence from a SIDS
- 9.1 Introduction
- 9.2 Literature Review
- 9.2.1 Theoretical Review
- 9.2.2 Empirical Review
- 9.3 Methodology and Analysis
- 9.3.1 The Econometric Model
- 9.3.2 Estimation Results of the ARDL
- 9.4 Conclusion
- References
- 10. Will TAFTA Be Good or Bad for the Environment?
- 10.1 Introduction
- 10.2 Literature Review
- 10.3 Data Sources
- 10.4 Four Estimating Equations
- Model 10.2: Adding Income Inequality and GE
- Model 10.3: Adding the Capital to Labor Ratio
- Model 10.4: Adding the Trade Variables
- 10.5 Empirical Methodology
- 10.6 Empirical Results
- 10.7 Conclusion
- References
- 11. Feminism, Environmental Economics, and Accountability
- 11.1 Introduction
- 11.2 Impact of Feminism in Economics
- 11.3 Female Economists' Contributions in Environmental Economics
- 11.3.1 Esther Duflo
- 11.3.1.1 Duffy's Work and Accountability for the Environment
- 11.3.2 (The Late) Professor Elinor Ostrom (1933–2012)
- 11.3.2.1 Accountability and Ostrom
- 11.3.3 Anny Ratnawati
- 11.3.4 Professor Armida Salsiah Alisjahbana
- 11.3.5 Dr Shamshad Akhtar
- 11.3.5.1 United Nations ESCAP
- 11.3.5.2 Contributions of Dr Shamshad Akhtar, Summary
- 11.3.6 Upcoming Female Environmental Economists
- 11.3.6.1 Dr Phoebe Koundouri
- 11.3.6.2 Dr Celine Nauges
- 11.3.6.3 Associate Professor Sarah Wheeler
- 11.4 Concluding Comments
- References
- Section 3: Environmental/Sustainable Finance
- 12. Does National Culture Affect Attitudes toward Environment Friendly Practices?
- 12.1 Introduction
- 12.2 Literature Review
- 12.3 Methodology and Data
- 12.4 Empirical Results
- 12.5 Conclusion
- References
- 13. The Economic and Financial Effects of Environmental Regulation
- 13.1 Introduction
- 13.2 The Costs of Production
- 13.3 Plant Location
- 13.4 Productivity at the Firm and Sectoral Level
- 13.5 Stock Prices, Returns, and Risk
- 13.6 Employment
- 13.7 Net Exports
- 13.8 Competitiveness
- 13.9 Economic Growth, Environmental Degradation, and Regulation
- 13.10 Aggregate Productivity
- 13.11 Conclusion
- References
- 14. Environmental Challenges and Financial Market Opportunities
- 14.1 Introduction
- 14.2 Theory and Experiences with Cap-and-Trade
- 14.3 The Kyoto Protocol and Global Participation
- 14.4 Expected Future Emissions and Caps
- 14.5 The Size and Extent of Environmental Securitization
- 14.6 Conclusions
- References
- 15. Environmental Finance
- 15.1 Introduction
- 15.2 Green Bonds
- 15.2.1 Definition of Green Bonds
- 15.2.2 Origins
- 15.2.3 Green Bond Funds
- 15.2.4 Indexes
- 15.2.5 Projects Financed Using Green Bonds
- 15.2.6 Environmental Investing
- 15.2.7 REDD/REDD+ Financing
- 15.2.8 Debt-for-Nature Swaps
- 15.3 Conclusion
- References
- 16. The Relationship between Screening Intensity and Performance of Socially Responsible Investment Funds
- 16.1 Introduction
- 16.2 Background, Literature Review, and Research Questions
- 16.3 Data and Methods
- 16.3.1 Data
- 16.3.2 Time-Series Analysis
- 16.3.3 Cross-sectional Analysis
- 16.4 Results
- 16.4.1 Descriptive Statistics
- 16.4.2 Performance Analysis
- 16.4.3 Analysis of Types of Companies
- 16.5 Conclusion
- References
- 17. Using CO2 Emission Allowances in Equity Portfolios
- 17.1 Introduction
- 17.2 Carbon Allowances and Literature Review
- 17.3 Data and Methodology
- 17.3.1 Data
- 17.3.2 Methodology
- 17.4 Results
- 17.5 Conclusion
- References
- 18. The Returns from Investing in Water Markets in Australia
- 18.1 Introduction
- 18.2 Background of Water Markets in Australia
- 18.3 Water Investment Literature Review
- 18.4 Data
- 18.4.1 Case Study Information
- 18.4.2 Basic GMID Water Market Statistics
- 18.5 Methodology
- 18.5.1 Discounted Cash Flow Analysis
- 18.5.2 Comparative Advantage of Water Market Investments
- 18.6 Discussion and Conclusions
- Acknowledgment
- References
- 19. Product Market Competition and Corporate Environmental Performance
- 19.1 Introduction
- 19.2 Literature Review
- 19.3 Data and Methodology
- 19.3.1 Environment Sustainability Index
- 19.3.2 Product Market Competition
- 19.3.2.1 Sales HHI
- 19.3.2.2 Asset Concentration
- 19.3.2.3 Number of Employees
- 19.3.2.4 Number of Companies
- 19.3.3 Industry Classification
- 19.3.4 Control Variables
- 19.4 Empirical Results
- 19.4.1 Sample Characteristics and Distribution
- 19.4.2 Regression Results
- 19.5 Conclusion
- References
- Section 4: Funding and Accounting Systems
- 20. The Costs and Benefits of Cost–Benefit Analysis as Applied to Environmental Regulation
- 20.1 Introduction
- 20.2 Identifying and Measuring Costs
- 20.3 Identifying and Measuring Benefits
- 20.4 Calculating the Present Value of Net Benefits
- 20.5 The CBA Controversy
- 20.6 A Discussion of Controversial Issues
- 20.7 Conclusion
- References
- 21. The Crowdfunding of Renewable Energy Projects
- 21.1 Introduction
- 21.2 Crowdfunding: Facts and Figures
- 21.3 Review of the Literature
- 21.4 The Sample
- 21.5 The Determinants of the Campaign Success
- 21.6 Conclusion
- References
- 22. Management Accounting and Biodiversity The Cultural Circuit of Capitalism and the Social Construction of a Perfect Market?
- 22.1 Introduction
- 22.2 FCA in Managerial Decision Making
- 22.3 The Cultural Circuit of Capitalism: Management Accounting and Control
- 22.4 The Deafening Noise: Biodiversity Crisis Shocks Functioning Markets?
- 22.5 The Sellers: Municipal Council Operating in a WHS
- 22.6 The Buyers Multinational Coal Mining
- 22.7 Conclusion: The Biodiversity Market and FCA
- Acknowledgments
- References
- Appendix 22.1: Ecosystem Credits—Determining the Current Site Value Score for a Vegetation Zone at the Development or Biobank Site