Download or read book Stranded Assets in the Coal Export Industry written by Christian Hauenstein and published by . This book was released on 2022 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Steam coal exporters face increasing uncertainty about future coal demand and risks of asset stranding. Nevertheless, new export-oriented coal mine projects are still brought forward. In this study, we use the coal sector model COALMOD-World to assess the economic prospects of investments in the export-oriented steam coal sector, and in particular of coal mines in the Galilee Basin, Australia. We parameterize coal mining in the Galilee Basin based on the Carmichael coal mine and export project specifics. We construct three coal demand scenarios with varying climate policy ambitions based on bottom-up coal sector data of the major coal consuming countries in Asia. We find that, even under most optimistic assumptions, new coal mines in the Galilee Basin are not economically viable in the longrun and prone to become stranded assets. In other Australian basins only very limited investments are required in the most conservative demand scenarios and only to replace exhausted coal mining capacities. Australian steam coal production decreases significantly in all scenarios due to down-phasing domestic demand and shrinking export opportunities. Investments in other world regions are only viable in the most conservative demand scenario. Any new investments in steam coal supply in Australia and globally, and particularly in export-oriented coal supply, are at risk of becoming stranded assets.
Download or read book Stranded Assets and Thermal Coal written by Ben Caldecott and published by . This book was released on 2016 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: The principal aim of this report is to turn the latest research on environment-related risk factors facing thermal coal assets into actionable investment hypotheses for investors. By examining the fundamental drivers of environment-related risk, creating appropriate measures to differentiate the exposure of different assets to these risks, and linking this analysis to company ownership, debt issuance, and capital expenditure plans, our research can help to inform specific investor actions related to risk management, screening, voting, engagement, and disinvestment. To our knowledge, this report contains the most comprehensive and up-to-date analysis of the environment-related risks facing thermal coal companies that is publicly available.
Download or read book Stranded Assets and the Environment written by Ben Caldecott and published by Routledge. This book was released on 2018-05-11 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on the work of leading researchers and practitioners from a range of disciplines, including economic geography, economics, economic history, finance, law, and public policy, this edited collection provides a comprehensive assessment of stranded assets and the environment, covering the fundamental issues and debates, including climate change and societal responses to environmental change, as well as its origins and theoretical basis. The volume provides much needed clarity as the discourse on stranded assets gathers further momentum. In addition to drawing on scholarly contributions, there are chapters from practitioners and analysts to provide a range of critical perspectives. While chapters have been written as important standalone contributions, the book is intended to systematically take the reader through the key dimensions of stranded assets as a topic of research inquiry and practice. The work adopts a broad based social science perspective for setting out what stranded assets are, why they are relevant, and how they might inform the decision-making of firms, investors, policymakers, and regulators. The topic of stranded assets is inherently multi-disciplinary, cross-sectoral, and multi-jurisdictional and the volume reflects this diversity. This book will be of great relevance to scholars, practitioners and policymakers with an interest in include economics, business and development studies, climate policy and environmental studies in general.
Download or read book Stranded Assets and Subcritical Coal written by B. L. CALDECOTT and published by . This book was released on 2015 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Stranded Asset Risk and Political Uncertainty written by Miriam Breitenstein and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Diversification and Cooperation in a Decarbonizing World written by Grzegorz Peszko and published by World Bank Publications. This book was released on 2020-07-24 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the first stocktaking of what the decarbonization of the world economy means for fossil fuel†“dependent countries. These countries are the most exposed to the impacts of global climate policies and, at the same time, are often unprepared to manage them. They depend on the export of oil, gas, or coal; the use of carbon-intensive infrastructure (for example, refineries, petrochemicals, and coal power plants); or both. Fossil fuel†“dependent countries face financial, fiscal, and macro-structural risks from the transition of the global economy away from carbon-intensive fuels and the value chains based on them. This book focuses on managing these transition risks and harnessing related opportunities. Diversification and Cooperation in a Decarbonizing World identifies multiple strategies that fossil fuel†“dependent countries can pursue to navigate the turbulent waters of a low-carbon transition. The policy and investment choices to be made in the next decade will determine these countries’ degree of exposure and overall resilience. Abandoning their comfort zones and developing completely new skills and capabilities in a time frame consistent with the Paris Agreement on climate change is a daunting challenge and requires long-term revenue visibility and consistent policy leadership. This book proposes a constructive framework for climate strategies for fossil fuel†“dependent countries based on new approaches to diversification and international climate cooperation. Climate policy leaders share responsibility for creating room for all countries to contribute to the goals of the Paris Agreement, taking into account the specific vulnerabilities and opportunities each country faces.
Download or read book Coal written by National Research Council and published by National Academies Press. This book was released on 2007-12-21 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: Coal will continue to provide a major portion of energy requirements in the United States for at least the next several decades. It is imperative that accurate information describing the amount, location, and quality of the coal resources and reserves be available to fulfill energy needs. It is also important that the United States extract its coal resources efficiently, safely, and in an environmentally responsible manner. A renewed focus on federal support for coal-related research, coordinated across agencies and with the active participation of the states and industrial sector, is a critical element for each of these requirements. Coal focuses on the research and development needs and priorities in the areas of coal resource and reserve assessments, coal mining and processing, transportation of coal and coal products, and coal utilization.
Download or read book World Energy Outlook 2015 written by International Energy Agency and published by . This book was released on 2015-11-25 with total page 700 pages. Available in PDF, EPUB and Kindle. Book excerpt: The precipitous fall in oil prices, continued geopolitical instability and the ongoing global climate negotiations are witness to the dynamic nature of energy markets. In a time of so much uncertainty, understanding the implications of the shifting energy landscape for economic and environmental goals and for energy security is vital. The World Energy Outlook 2015 (WEO-2015) will present updated projections for the evolution of the global energy system to 2040, based on the latest data and market developments, as well as detailed insights on the prospects for fossil fuels, renewables, the power sector and energy efficiency and analysis on trends in CO2 emissions and fossil-fuel and renewable energy subsidies.
Download or read book Decarbonizing Development written by Marianne Fay and published by World Bank Publications. This book was released on 2015-06-09 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt: The science is unequivocal: stabilizing climate change implies bringing net carbon emissions to zero. This must be done by 2100 if we are to keep climate change anywhere near the 2oC warming that world leaders have set as the maximum acceptable limit. Decarbonizing Development: Three Steps to a Zero-Carbon Future looks at what it would take to decarbonize the world economy by 2100 in a way that is compatible with countries' broader development goals. Here is what needs to be done: -Act early with an eye on the end-goal. To best achieve a given reduction in emissions in 2030 depends on whether this is the final target or a step towards zero net emissions. -Go beyond prices with a policy package that triggers changes in investment patterns, technologies and behaviors. Carbon pricing is necessary for an efficient transition toward decarbonization. It is an efficient way to raise revenue, which can be used to support poverty reduction or reduce other taxes. Policymakers need to adopt measures that trigger the required changes in investment patterns, behaviors, and technologies - and if carbon pricing is temporarily impossible, use these measures as a substitute. -Mind the political economy and smooth the transition for those who stand to be most affected. Reforms live or die based on the political economy. A climate policy package must be attractive to a majority of voters and avoid impacts that appear unfair or are concentrated on a region, sector or community. Reforms have to smooth the transition for those who stand to be affected, by protecting vulnerable people but also sometimes compensating powerful lobbies.
Download or read book A Fragmented Continent written by Guy Edwards and published by MIT Press. This book was released on 2015-11-20 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: How Latin American countries became leading voices and innovators on addressing climate change—and what threatens their leadership. Latin American countries have increased their influence at the United Nations climate change negotiations and offered potential solutions on coping with global warming. But in the face of competing priorities, sometimes these climate policies are jettisoned, undermined, or simply ignored. A Fragmented Continent focuses on Latin America's three major blocs at the U.N. climate negotiations and how they attempt to balance climate action with building prosperity. Brazil has reduced its deforestation but continues its drive for economic growth and global recognition. A leftist group led by Venezuela, Bolivia, and Ecuador decries the injustice of climate change but is highly dependent on the export of fossil fuels. A new group, including Chile, Costa Rica, and Peru and supported by Mexico, offers sharp reductions in their carbon emissions in return for greater action by others; these countries now have to deliver on their promises. Weaving together issues of politics and economy, trade, foreign policy, civil society, and environmental protection, A Fragmented Continent offers a long-missing perspective on one of this century's greatest challenges and neglected regions.
Download or read book Global Renewables Outlook Energy Transformation 2050 written by International Renewable Energy Agency IRENA and published by International Renewable Energy Agency (IRENA). This book was released on 2020-04-01 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: This outlook highlights climate-safe investment options until 2050, policies for transition and specific regional challenges. It also explores options to eventually cut emissions to zero.
Download or read book The Geopolitics of Renewables written by Daniel Scholten and published by Springer. This book was released on 2018-01-11 with total page 347 pages. Available in PDF, EPUB and Kindle. Book excerpt: Renewables are a game changer for interstate energy relations. Their abundance and intermittency, possibilities for decentral generation and use of rare earth materials, and generally electric nature of transportation make them very different from fossil fuels. What do these geographic and technical characteristics of renewable energy systems imply for infrastructure topology and operations, business models, and energy markets? What are the consequences for the strategic realities and policy considerations of producer, consumer, and transit countries and energy-related patterns of cooperation and conflict between them? Who are the winners and losers? The Geopolitics of Renewables is the first in-depth exploration of the implications for interstate energy relations of a transition towards renewable energy. Fifteen international scholars combine insights from several disciplines - international relations, geopolitics, energy security, renewable energy technology, economics, sustainability transitions, and energy policy - to establish a comprehensive overview and understanding of the emerging energy game. Focus is on contemporary developments and how they may shape the coming decades on three levels of analysis: · The emerging global energy game; winners and losers · Regional and bilateral energy relations of established and rising powers · Infrastructure developments and governance responses The book is recommended for academics and policy makers. It offers a novel analytical framework that moves from geography and technology to economics and politics to investigate the geopolitical implications of renewable energy and provides practical illustrations and policy recommendations related to specific countries and regions such as the US, EU, China, India, OPEC, and Russia
Download or read book ESG and Responsible Institutional Investing Around the World A Critical Review written by Pedro Matos and published by CFA Institute Research Foundation. This book was released on 2020-05-29 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: This survey examines the vibrant academic literature on environmental, social, and governance (ESG) investing. While there is no consensus on the exact list of ESG issues, responsible investors increasingly assess stocks in their portfolios based on nonfinancial data on environmental impact (e.g., carbon emissions), social impact (e.g., employee satisfaction), and governance attributes (e.g., board structure). The objective is to reduce exposure to investments that pose greater ESG risks or to influence companies to become more sustainable. One active area of research at present involves assessing portfolio risk exposure to climate change. This literature review focuses on institutional investors, which have grown in importance such that they have now become the largest holders of shares in public companies globally. Historically, institutional investors tended to concentrate their ESG efforts mostly on corporate governance (the “G” in ESG). These efforts included seeking to eliminate provisions that restrict shareholder rights and enhance managerial power, such as staggered boards, supermajority rules, golden parachutes, and poison pills. Highlights from this section: · There is no consensus on the exact list of ESG issues and their materiality. · The ESG issue that gets the most attention from institutional investors is climate change, in particular their portfolio companies’ exposure to carbon risk and “stranded assets.” · Investors should be positioning themselves for increased regulation, with the regulatory agenda being more ambitious in the European Union than in the United States. Readers might come away from this survey skeptical about the potential for ESG investing to affect positive change. I prefer to characterize the current state of the literature as having a “healthy dose of skepticism,” with much more remaining to be explored. Here, I hope the reader comes away with a call to action. For the industry practitioner, I believe that the investment industry should strive to achieve positive societal goals. CFA Institute provides an exemplary case in its Future of Finance series (www.cfainstitute.org/research/future-finance). For the academic community, I suggest we ramp up research aimed at tackling some of the open questions around the pressing societal goals of ESG investing. I am optimistic that practitioners and academics will identify meaningful ways to better harness the power of global financial markets for addressing the pressing ESG issues facing our society.
Download or read book Risk Principles for Public Utility Regulators written by Janice A. Beecher and published by Michigan State University Press. This book was released on 2016-05-01 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk and risk allocation have always been central issues in public utility regulation. Unfortunately, the term “risk” can easily be misrepresented and misinterpreted, especially when disconnected from long-standing principles of corporate finance. This book provides those in the regulatory policy community with a basic theoretical and practical grounding in risk as it relates specifically to economic regulation in order to focus and elevate discourse about risk in the utility sector in the contemporary context of economic, technological, and regulatory change. This is not a “how-to” book with regard to calculating risks and returns but rather a resource that aims to improve understanding of the nature of risk. It draws from the fields of corporate finance, behavioral finance, and decision theory as well as the broader legal and economic theories that undergird institutional economics and the economic regulatory paradigm. We exist in a world of scarce resources and abundant uncertainties, the combination of which can exacerbate and distort our sense of risk. Although there is understandable impulse to reduce risk, attempts to mitigate may be as likely to shift risk, and some measures might actually increase risk exposure. Many of the concepts explored here apply not just to financial decisions, such as those by utility investors, but also to regulatory and utility decision-making in general.
Download or read book The Green New Deal written by Jeremy Rifkin and published by Macmillan + ORM. This book was released on 2019-09-10 with total page 173 pages. Available in PDF, EPUB and Kindle. Book excerpt: An urgent plan to confront climate change, transform the American economy, and create a green post-fossil fuel culture. A new vision for America’s future is quickly gaining momentum. Facing a global emergency, a younger generation is spearheading a national conversation around a Green New Deal and setting the agenda for a bold political movement with the potential to revolutionize society. Millennials, the largest voting bloc in the country, are now leading on the issue of climate change. While the Green New Deal has become a lightning rod in the political sphere, there is a parallel movement emerging within the business community that will shake the very foundation of the global economy in coming years. Key sectors of the economy are fast-decoupling from fossil fuels in favor of ever cheaper solar and wind energies and the new business opportunities and employment that accompany them. New studies are sounding the alarm that trillions of dollars in stranded fossil fuel assets could create a carbon bubble likely to burst by 2028, causing the collapse of the fossil fuel civilization. The marketplace is speaking, and governments will need to adapt if they are to survive and prosper. In The Green New Deal, New York Times bestselling author and renowned economic theorist Jeremy Rifkin delivers the political narrative and economic plan for the Green New Deal that we need at this critical moment in history. The concurrence of a stranded fossil fuel assets bubble and a green political vision opens up the possibility of a massive shift to a post-carbon ecological era, in time to prevent a temperature rise that will tip us over the edge into runaway climate change. With twenty-five years of experience implementing Green New Deal–style transitions for both the European Union and the People’s Republic of China, Rifkin offers his vision for how to transform the global economy and save life on Earth.
Download or read book World Energy Outlook 2019 written by International Energy Agency and published by . This book was released on 2019-11-13 with total page 807 pages. Available in PDF, EPUB and Kindle. Book excerpt: The World Energy Outlook series is a leading source of strategic insight on the future of energy and energy-related emissions, providing detailed scenarios that map out the consequences of different energy policy and investment choices. This year's edition updates the outlooks for all fuels, technologies and regions, based on the latest market data, policy initiatives and cost trends. In addition, the 2019 report tackles some key questions in depth: (i) What do the shale revolution, the rise of liquefied natural gas, the falling costs of renewables and the spread of digital technologies mean for tomorrow's energy supply?; (ii) How can the world get on a pathway to meet global climate targets and other sustainable energy goals?; (iii) What are the energy choices that will shape Africa's future, and how might the rise of the African consumer affect global trends?; (iv) How large a role could offshore wind play in the transformation of the energy sector?; (v) Could the world's gas grids one day deliver low-carbon energy?
Download or read book Forest Cover Change in Space and Time written by Arild Angelsen and published by World Bank Publications. This book was released on 2007 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a framework for analyzing tropical deforestation and reforestation using the von Thunen model as its starting point: land is allocated to the use which yields the highest rent, and the rents of various land uses are determined by location. Forest cover change therefore becomes a question of changes in rent of forest versus non-forest use. While this is a simple and powerful starting point, more intriguing issues arise when this is applied to analyze real cases. An initial shift in the rent of one particular land use generates feedbacks which affect the rent of all land uses. For example, a new technology in extensive agriculture should make this land use more profitable and lead to more forest clearing, but general equilibrium effects (changes in prices and local wages) can modify or even reverse this conclusion. Another issue is how a policy change or a shift in broader market, technological, and institutional forces will affect various land use rents. The paper deals with three such areas: technological progress in agriculture, land tenure regimes, and community forest management. The second part of the paper links the von Thunen framework to the forest transition theory. The forest transition theory describes a sequence over time where a forested region goes through a period of deforestation before the forest cover eventually stabilizes and starts to increase. This sequence can be seen as a systematic pattern of change in the agricultural and forest land rents over time. Increasing agricultural rent leads to high rates of deforestation. The slow-down of deforestation and eventual reforestation is due to lower agricultural rents (the economic development path) and higher forest rent (the forest scarcity path). Various forces leading to these changes are discussed and supported by empirical evidence from different tropical regions.
