Template-Type: ReDIF-Article 1.0 Author-Name: Stefano Russo Author-WorkPlace-Name: FEEM Title: Global Challenges, Integrated Solutions: A Cooperation Matrix Against Energy Poverty Abstract: Energy has always been linked to the history of mankind and human development. Nevertheless, universal access to energy was not included in the Millennium Development Goals. A Global Thematic Consultation on Energy was thus started to conduct a multi-stakeholder dialogue at global level aimed at placing energy firmly at the heart of the United Nations Post 2015 Development Agenda. This is the spirit that inspired the organization of the international workshop on “Energy Poverty and Energy Access: Global Challenges and Goals” by Fondazione Eni Enrico Mattei (FEEM) and Fondazione Giangiacomo Feltrinelli (FGF) within the LabExpo Project, in collaboration with eni, on July 10-11, 2014. The publication presented here is the outcome of the cooperation among FEEM, FGF, Università Cattolica del Sacro Cuore and Politecnico di Milano, based on the contributions and proposals presented by the experts during the workshop. Journal: Review of Environment, Energy and Economics Year: 2015 Month: January File-URL: http://www.feem.it/getpage.aspx?id=7163 Handle: RePEc:fem:femre3:2015.01-01 Template-Type: ReDIF-Article 1.0 Author-Name: Guido Santini Author-WorkPlace-Name: FAO Title: Coping with Water Scarcity Abstract: In this brief interview granted to Re3, Guido Santini from FAO illustrates the main spheres of actions of its Land&Water division, and in particular the effective investment planning tool developed to support countries struggling with water scarcity, most notably in Sub Saharan Africa. Journal: Review of Environment, Energy and Economics Year: 2015 Month: January File-URL: http://www.feem.it/getpage.aspx?id=7180 Handle: RePEc:fem:femre3:2015.01-02 Template-Type: ReDIF-Article 1.0 Author-Name: Carlo Carraro Author-WorkPlace-Name: FEEM Author-Name: Suneel Pandey Author-WorkPlace-Name: Green Growth and Resource Efficiency Division, The Energy and Resources Institute Author-Name: Steven Stone Author-WorkPlace-Name: Green Economy Initiaitve, UNEP Title: Why Fiscal Policy Matters for a Green Economy Transition Abstract: On 29-30 January 2015, Ca' Foscari University of Venice, The Energy and Resources Institute (TERI) and the United Nations Environment Programme (UNEP) host the GGKP's third Annual Conference on the theme of "Fiscal Policies and the Green Economy Transition: Generating Knowledge – Creating Impact". Re3 is pleased to publish the insight by Carlo Carraro, Suneel Pandey and Steven Stone drawn from the Green Growth Knowledge Platform blog, presenting the case for using fiscal policy to achieve economic, social and environmental goals - highlighting examples in the energy, water and transport sectors and outlining the challenges which exist in practice. Journal: Review of Environment, Energy and Economics Year: 2015 Month: January File-URL: http://www.feem.it/getpage.aspx?id=7208 Handle: RePEc:fem:femre3:2015.01-03 Template-Type: ReDIF-Article 1.0 Author-Name: Christian Krekel Author-WorkPlace-Name: DIW Berlin Author-Name: Marta Silva Author-WorkPlace-Name: ISCTE-IUL - University Institute of Lisbon Author-Name: Anna Raute Author-WorkPlace-Name: UCL and University of Mannheim Title: Fresh Thoughts from Young Researchers Abstract: Re3 publishes the interviews with the winners of the FEEM 2014 Award, which periodically rewards new ideas and innovative research in economics by young scholars. The interviews span a wide variety of topics, from the case of Fukushima to labour market reforms and whether financial incentives affect fertility. Journal: Review of Environment, Energy and Economics Year: 2015 Month: February File-URL: http://www.feem.it/getpage.aspx?id=7221 Handle: RePEc:fem:femre3:2015.02-01 Template-Type: ReDIF-Article 1.0 Author-Name: Francesca Romanin Jacur Author-WorkPlace-Name: University of Milan Title: Elements of a Future International Climate Agreement Abstract: Climate change negotiations in the framework of the UNFCCC are expected to lead to the adoption of an international agreement at the 21st session of the Conference of the Parties in Paris at the end of 2015. In this short video, environmental law expert Francesca Romanin Jacur looks into this complex process. Journal: Review of Environment, Energy and Economics Year: 2015 Month: February File-URL: http://www.feem.it/getpage.aspx?id=7263 Handle: RePEc:fem:femre3:2015.02-02 Template-Type: ReDIF-Article 1.0 Author-Name: Alessandro Tavoni Author-WorkPlace-Name: Grantham Research Institute, London School of Economics Title: Elements of a Future International Climate Agreement Abstract: Approaching the complexities inherent in human behavior, and compounded by the increasingly multifaceted environment we live in, requires multiple angles of attack. Hence, combining theoretical investigations and applied techniques appears to be a promising approach to inform the scientific and policy debates about environmental management. Sustainably managing jointly determined ecological-economic systems requires not only an understanding of the environmental factors that affect them, but also knowledge of the interactions and feedback cycles that operate between resource dynamics and activities attributable to human intervention. The socio-economic dynamics, in turn, call for an investigation of the behavioral drivers behind human action. We argue that a multidisciplinary approach is needed in order to tackle the increasingly pressing and intertwined environmental challenges faced by modern societies. Specifically, fruitful new insights into the mechanisms that can promote cooperation among the end-users of the local and global commons can be achieved by establishing bridges between the economic, the ecological and the behavioral traditions. Journal: Review of Environment, Energy and Economics Classification-JEL: Q50, C70, C90 Keywords: Environmental Economics, Climate Change, Cross-Disciplinary Collaborations, Complex Systems Journal: Review of Environment, Energy and Economics Year: 2015 Month: February File-URL: http://www.feem.it/getpage.aspx?id=7279 Handle: RePEc:fem:femre3:2015.02-03 Template-Type: ReDIF-Article 1.0 Author-Name: Carlo Carraro Author-WorkPlace-Name: FEEM Author-Name: Charles Kolstad Author-WorkPlace-Name: Stanford University Author-Name: Robert Stavins Author-WorkPlace-Name: Harvard Kennedy School Title: Assessment and Communication of the Social Science of Climate Change: Bridging Research and Policy Abstract: On February 18-20, 2015, twenty-four experts gathered in Berlin to explore approaches to improving the process by which research on climate change is assessed -- with a focus on the social-sciences (economics, political science, policy studies). The workshop was sponsored by the Fondazione Eni Enrico Mattei, the Harvard Project on Climate Agreements, the Mercator Research Institute on Global Commons and Climate Change, and the Stanford Environmental and Energy Policy Analysis Center. Leaders of three of the sponsoring organizations, Carlo Carraro (FEEM), Charles Kolstad (Stanford University), and Robert Stavins (Harvard Kennedy School), have prepared a memorandum drawing from the workshop. The memo describes the specific challenges and opportunities facing the Intergovernmental Panel on Climate Change (IPCC) and provides recommendations for improving the IPCC's process of assessing scientific research on climate change. Journal: Review of Environment, Energy and Economics Year: 2015 Month: February File-URL: http://www.feem.it/getpage.aspx?id=7303 Handle: RePEc:fem:femre3:2015.02-04 Template-Type: ReDIF-Article 1.0 Author-Name: Michel Camdessus Author-WorkPlace-Name: Banque de France Author-Name: Sergio Carrà Author-WorkPlace-Name: Politecnico di Milano Author-Name: Jaroslav Mysiak Author-WorkPlace-Name: Fondazione Eni Enrico Mattei and Euro-Mediterranean Center on Climate Change Author-Name: Andrea Rinaldo Author-WorkPlace-Name: Università degli Studi di Padova Author-Name: Renzo Rosso Author-WorkPlace-Name: Politecnico di Milano Author-Name: Giulio Sapelli Author-WorkPlace-Name: Università di Milano and FEEM Title: Water and Development Abstract: On 14 January 2015 international scholars and experts convened in Milan for the International Conference on “Water and Development”. Re3 publishes a selection of the presentations showing how demographic trends, energy development and needs, the water-energy nexus, climate change, and water geostrategic challenges are all interconnected. Journal: Review of Environment, Energy and Economics Year: 2015 Month: March File-URL: http://www.feem.it/getpage.aspx?id=7325 Handle: RePEc:fem:femre3:2015.03-01 Template-Type: ReDIF-Article 1.0 Author-Name: Francesco Bosello Author-WorkPlace-Name: Università di Milano, Fondazione Eni Enrico Mattei, Centro Euro-Mediterraneo sui Cambiamenti Climatici Author-Name: Elisa Delpiazzo Author-WorkPlace-Name: Centro Euro-Mediterraneo sui Cambiamenti Climatici Author-Name: Fabio Eboli Author-WorkPlace-Name: Fondazione Eni Enrico Mattei, Centro Euro-Mediterraneo sui Cambiamenti Climatici Title: Acidification in the Mediterranean sea: impacts and adaptation strategies Abstract: This article addresses one of the main threats for the marine ecosystem: Ocean Acidification. Caused by anthropogenic CO2 emissions, it affects the whole marine ecosystem. To cope with it and lower its negative socio-economic effects, it is necessary to adopt a comprehensive adaptation strategy to enforce resilience and reduce local stressors. Journal: Review of Environment, Energy and Economics Classification-JEL: Q22, Q54, Q57 Keywords: Ocean Acidification, Adaptation, Mediterranean Sea Year: 2015 Month: March File-URL: http://www.feem.it/getpage.aspx?id=7335 Handle: RePEc:fem:femre3:2015.03-02 Template-Type: ReDIF-Article 1.0 Author-Name: Jaroslav Mysiak Author-WorkPlace-Name: Fondazione Eni Enrico Mattei Title: Targeting the Global Efforts to Reduce Disaster Risk Abstract: From March 14 to 18, representatives of 187 state governments and around 6,500 delegates from inter- and non-government organizations, UN entities, academic and private sector institutions gathered together to debate a new international agreement on disaster risk reduction (DRR), one that would replace the Hyogo Framework for Action (HFA) 2005-2015. Journal: Review of Environment, Energy and Economics Classification-JEL: Q5, Q54, Q58 Keywords: Disaster, Risk Reduction Year: 2015 Month: March File-URL: http://www.feem.it/getpage.aspx?id=7351 Handle: RePEc:fem:femre3:2015.03-03 Template-Type: ReDIF-Article 1.0 Author-Name: Carlo Carraro Author-WorkPlace-Name: Fondazione Eni Enrico Mattei Title: Climate Change and Migrations Abstract: Given that climate change is and will continue to impact regions in different ways, migration from the areas most exposed to climate change needs to be considered. Fostering a better understanding of climate-related migration will also be a fundamental step in securing the future stability of our planet and action on poverty reduction. Journal: Review of Environment, Energy and Economics Classification-JEL: Q5, Q54 Keywords: Climate Change, Migration, Adaptation, Poverty, Natural Disasters Year: 2015 Month: April File-URL: http://www.feem.it/getpage.aspx?id=7381 Handle: RePEc:fem:femre3:2015.04-01 Template-Type: ReDIF-Article 1.0 Author-Name: Valentina Bosetti Author-WorkPlace-Name: Bocconi University, Fondazione Eni Enrico Mattei and Euro-Mediterranean Centre on Climate Change Title: Innovation under Uncertainty Abstract: Stabilization of atmospheric concentrations of greenhouse gases to safe levels will require, at least in the longer run, some kind of technological revolution. This new volume “Innovation under Uncertainty”, edited by FEEM researchers Valentina Bosetti and Michela Catenacci, presents original research and insights on the uncertain future of carbon-free energy technologies. Journal: Review of Environment, Energy and Economics Year: 2015 Month: April File-URL: http://www.feem.it/getpage.aspx?id=7393 Handle: RePEc:fem:femre3:2015.04-02 Template-Type: ReDIF-Article 1.0 Author-Name: Simone Tagliapietra Author-WorkPlace-Name: Fondazione Eni Enrico Mattei Title: Renewable Energy in the Mediterranean: Current Status and Future Prospects Abstract: This article presents the key results of the study "The Future of Renewable Energy in the Mediterranean - Translating Potential Into Reality" just published in the FEEM "Note di Lavoro/Working Paper" series. The study seeks to provide a clear and comprehensive overview on the various aspects related to the current status and the future prospects of renewable energy (namely solar and wind) in Southern and Eastern Mediterranean countries (SEMCs). SEMCs are endowed with a huge solar and wind energy potential, and the exploitation of this potential could bring various benefits to the region, such as meeting the rising energy/electricity demand at a lower cost, freeing up additional export volumes of oil and gas in energy exporting countries, reducing energy bills in energy importing countries and alleviating energy poverty. Notwithstanding all the efforts to promote renewable energy carried out over the last decade both at the regional level and at the European level (e.g. Desertec, Mediterranean Solar Plan, etc.), SEMCs continue to lag far behind most other regions in the world in terms of solar and wind energy deployment. The study explores the reasons of this paradox, particularly focusing on the key barriers to the development of renewable energy in the region: the extensive use of energy subsidies and the lack of adequate electricity infrastructures, energy regulatory frameworks and financing mechanisms. On the basis of this in-depth analysis, the study proposes an innovative approach to tackle these barriers, involving a joint action of MedTSO, MEDREG and key financial institutions under the umbrella of a newly-established “Euro-Med Renewable Energy Platform” designed to become -on the basis of an inclusive, pragmatic and bottom-up approach- the new catalyst for the development of renewable energy in SEMCs. Journal: Review of Environment, Energy and Economics Classification-JEL: Q40, Q42, Q48 Keywords: Mediterranean Energy Markets, Renewable Energy, Solar Energy, Desertec Year: 2015 Month: April File-URL: http://www.feem.it/getpage.aspx?id=7401 Handle: RePEc:fem:femre3:2015.04-03 Template-Type: ReDIF-Article 1.0 Author-Name: Massimo Tavoni Author-WorkPlace-Name: Fondazione Eni Enrico Mattei (FEEM) and Politecnico di Milano, Department of Management and Economics Title: Natural Gas and Climate Change Policies Abstract: The development of unconventional gas extraction has led to significant declines in gas prices, recently followed by a large drop of oil prices. This is also the year which is supposed to deliver the long awaited post 2020 climate agreement. This article brings different pieces of research together, delving on both issues. First, we review the regional implications of a possible agreement at the UNFCCC meeting in Paris. We assess the impact of abundant natural gas on climate change. Finally, we conclude with an analysis of the interplay of natural gas and climate policy in Europe. Journal: Review of Environment, Energy and Economics Classification-JEL: Q4, Q42, Q48, Q5, Q55, Q58 Keywords: Natural Gas, Climate Change Policies Year: 2015 Month: May File-URL: http://www.feem.it/getpage.aspx?id=7441 Handle: RePEc:fem:femre3:2015.05-01 Template-Type: ReDIF-Article 1.0 Author-Name: Pontifical Academy of Sciences Title: The Moral Dimensions of Climate Change and Sustainable Development Abstract: Re3 is pleased to publish the full text of the Final Declaration of Religious Leaders, Political Leaders, Business Leaders, Scientists and Development Practitioners who participated in the workshop entitled "Protect the Earth, Dignify Humanity" hosted by the Pontifical Academy of Sciences of the Roman Catholic Church on April 28, 2015. Journal: Review of Environment, Energy and Economics Year: 2015 Month: May File-URL: http://www.feem.it/getpage.aspx?id=7452 Handle: RePEc:fem:femre3:2015.05-02 Template-Type: ReDIF-Article 1.0 Author-Name: Umberto Marengo Author-WorkPlace-Name: EU Public Policy and International Relations at the University of Cambridge Title: The Effects of the Financial Crisis on EU Financial Regulation for Commodities Abstract: The pricing of global commodities has come to rely heavily on the role of financial institutions and derivative instruments in recent years. The financial crisis and the increasing volatility of commodity prices, however, exposed the weaknesses of physical and financial commodity markets. In response to the crisis, the European Union (EU) introduced a new regulatory framework that builds on the G20 commitments to provide more stability to commodity markets. To achieve these objectives, EU regulation intervened on three aspects of commodity trading. First, it increased market access obligations for market players engaged in commodity trading by narrowing existing exemptions and imposing certain trade limitations. Second, it restricted the usage of Over the Counter (OTC) derivatives by extending mandatory clearing. Third, it strengthened cross-market (physical/financial) supervision to prevent market abuses and indices manipulation. These measures marked a paradigm shift in EU financial regulation and in its understanding of market failure. Whereas pre-crisis regulation mainly addressed related informational asymmetries and barriers to competition, post-crisis legislation introduced new elements that specifically tackled systemic risk and price volatility. Journal: Review of Environment, Energy and Economics Classification-JEL: G15, K22, P48 Keywords: Commodity Trading, Financial Regulation, G20, European Union, Price Reporting Agencies, Over The Counter Derivatives Year: 2015 Month: May File-URL: http://www.feem.it/getpage.aspx?id=7465 Handle: RePEc:fem:femre3:2015.05-03 Template-Type: ReDIF-Article 1.0 Author-Name: ENTRACTE Project Team Title: How Do the Mechanics of Europe's Climate Policy Work? Abstract: Preventing climate change is one of the priorities of the European Union. Europe is working hard to cut its greenhouse gas emissions and to help fight climate change. Re3 is pleased to announce the release of an animated short film by the EU-funded ENTRACTE project to help raise awareness on this topic. Journal: Review of Environment, Energy and Economics Year: 2015 Month: May File-URL: http://www.feem.it/getpage.aspx?id=7487 Handle: RePEc:fem:femre3:2015.05-04 Template-Type: ReDIF-Article 1.0 Author-Name: Jaroslav Mysiak Author-WorkPlace-Name: Fondazione Eni Enrico Mattei (FEEM) and Centro Euro-Mediterraneo sui Cambiamenti Climatici (CMCC) Title: Economic Impacts of Disaster Risk and Risk Reduction Measures Abstract: Italy is notoriously prone to natural hazards and disaster risk due to its peninsular and mountainous conformation. The limited risk prevention and legacy of uncontrolled urban expansion contribute to amplifying the risks and their impacts. Recent FEEM & CMCC research has empirically estimated, for the first time in Italy, the potential impacts of climate change on the regional economy. Research of this type makes it possible to inform operative disaster risk reduction schemes and climate adaptation plans at regional level, responding to regional economic footprints. The performance assessment of different schemes of cost recovery is the successive step of the analysis yet to be completed. Journal: Review of Environment, Energy and Economics Classification-JEL: Q54 Keywords: Natural Hazards, Disaster Risks, Risk Prevention, Cost Recovery Year: 2015 Month: May File-URL: http://www.feem.it/getpage.aspx?id=7506 Handle: RePEc:fem:femre3:2015.05-05 Template-Type: ReDIF-Article 1.0 Author-Name: Manfred Hafner Author-WorkPlace-Name: Fondazione Eni Enrico Mattei (FEEM) Author-Name: Simone Tagliapietra Author-WorkPlace-Name: Fondazione Eni Enrico Mattei (FEEM) Title: Turkish Stream and the EU Security of Gas Supply: What's Next? Abstract: On December 1, 2014 Russian President Vladimir Putin surprised the energy world by announcing, during a state visit to Turkey, the demise of the long-planned South Stream pipeline project and the launch of a new project to evacuate Russian gas to Turkey and South-East Europe bypassing Ukraine: Turkish Stream. Since 2007 South Stream has represented a key element of the discussions concerning the EU security of gas supply and the overall EU-Russia relations. For this reason, the unexpected demise of South Stream and the quick rise of Turkish Stream need to be carefully evaluated both under the economic and geopolitical perspectives. This article will first provide an overview of the Russian gas export strategy to Europe in order to entrench the current discussion on the major long-term trends concerning the issue. On the basis of this analysis the article will then discuss the future prospects of Turkish Stream, arguing that the EU could seize this new reality to launch the formation of a fluid, reliable and interconnected South-Eastern European regional gas hub. Journal: Review of Environment, Energy and Economics Classification-JEL: Q40, Q42, Q48 Keywords: Turkish Stream, South Stream, Energy Security, Gas Markets, EU Energy Union Year: 2015 Month: June File-URL: http://www.feem.it/getpage.aspx?id=7532 Handle: RePEc:fem:femre3:2015.06-01 Template-Type: ReDIF-Article 1.0 Author-Name: Mattia Amadio Author-WorkPlace-Name: Fondazione Eni Enrico Mattei and Euro-Mediterranean Centre on Climate Change, Italy Author-Name: Jaroslav Mysiak Author-WorkPlace-Name: Fondazione Eni Enrico Mattei and Euro-Mediterranean Centre on Climate Change, Italy Author-Name: Lorenzo Carrera Author-WorkPlace-Name: Fondazione Eni Enrico Mattei and Euro-Mediterranean Centre on Climate Change, Italy Author-Name: Elco Koks Author-WorkPlace-Name: Institute for Environmental Studies (IVM), VU University Amsterdam, The Netherlands Title: Improvements in Flood Risk Assessment: Evidence from Northern Italy Abstract: The assessment of potential economic damage caused by floods is commonly done via methodologies based on Stage-Damage Curves (SDC), which provide a relation between the depth of water and the economic damage on a specific land use. SDC are developed for site-specific analysis but seldom calibrated or tested for transferability purpose. In Italy no specific damage functions have been developed so far, despite damage reports being collected after every major flood. Here a refined SDC model is tested against a flood event in Northern Italy. SDCs calibration is underpinned with empirical data from compensation records. Our framework includes the assessment of asset losses, focusing on urban and agricultural land, and production losses. While the first are calculated based on land use, production losses are measured through the spatial distribution of Gross Value Added. Journal: Review of Environment, Energy and Economics Classification-JEL: Q54 Keywords: Flood Risk, Stage Depth Damage Curves, Italy Year: 2015 Month: June File-URL: http://www.feem.it/getpage.aspx?id=7558 Handle: RePEc:fem:femre3:2015.06-02 Template-Type: ReDIF-Article 1.0 Author-Name: Giulio Sapelli Author-WorkPlace-Name: Fondazione Eni Enrico Mattei and University of Milan, Italy Title: Global Challenges and the Emerging World Order Abstract: This book offers a fascinating overview of the challenges posed by the world’s new geostrategic order and likely future directions. It opens with an unconventional view of the Arab Spring, identifying its origins in the relative US withdrawal from the Middle East caused by both the need for military disengagement for economic reasons and the discovery of shale gas and tight oil in the heart of the North American continent. The rise in the geostrategic importance of Putin’s Russia is explored in this context. The implications of the worldwide economic crisis are analyzed in depth: the author’s interpretation is that the world is entering a phase of unstable growth generated by hyperfinancialization and deflation. Against this background, the book explores the US attempt to trigger growth through the Transatlantic Trade and Investment Partnership, the impact of the Trans-Pacific Partnership (based on the US-Australia military alliance) in restraining China’s advance, and the potential for Africa to become the driver of the world’s economic future if it can resist Chinese penetration and continue the nation-building process. Journal: Review of Environment, Energy and Economics Year: 2015 Month: June File-URL: http://www.feem.it/getpage.aspx?id=7589 Handle: RePEc:fem:femre3:2015.06-03 Template-Type: ReDIF-Article 1.0 Author-Name: Andrea Bastianin Author-WorkPlace-Name: FEEM and University of Milan Author-Name: Matteo Manera Author-WorkPlace-Name: FEEM and University of Milan - Bicocca Title: Oil and Macroeconomic Uncertianty Abstract: In this article we discuss the concepts of macroeconomic uncertainty, oil price uncertainty and oil price shocks. Given the relevance of oil and macroeconomic uncertainty in both academic research and the political sphere, we illustrate how economic uncertainty can be operationally defined and empirically measured. After surveying some common proxies of macroeconomic uncertainty, we describe our proposed measure of oil price uncertainty, and we illustrate the contribution of its underlying components, namely uncertainties related to oil consumption and production, economic activity and oil inventories. Journal: Review of Environment, Energy and Economics Classification-JEL: C32, C58, E44, Q41, Q43 Keywords: Macroeconomic Uncertainty, Oil Price Uncertainty, Oil Price Shocks, Oil Price Year: 2015 Month: June File-URL: http://www.feem.it/getpage.aspx?id=7594 Handle: RePEc:fem:femre3:2015.06-04 Template-Type: ReDIF-Article 1.0 Author-Name: Leo Drollas Author-WorkPlace-Name: Energy Consultant Author-Name: Vincent Kaminski Author-WorkPlace-Name: Professor in the Practice of Executive Education, Rice University Author-Name: Lutz Kilian Author-WorkPlace-Name: Professor of Economics, University of Michigan Author-Name: Charles F. Mason Author-WorkPlace-Name: Professor of Economics, University of Wyoming Author-Name: Apostolos Serletis Author-WorkPlace-Name: Professor of Economics and Finance, University of Calgary Author-Name: Adonis Yatchew Author-WorkPlace-Name: Professor of Economics, University of Toronto Title: Recent Evolutions of Oil and Commodity Prices Abstract: Following the International Conference on “The Recent Evolutions of Oil and Commodity Prices” organized by FEEM on 4-5 June, 2015 Re3 interviews energy experts Leo Drollas, Vincent Kaminski, Lutz Kilian, Charles F. Mason, Apostolos Serletis and Adonis Yatchew on the drop in oil prices and their research on this issue. Journal: Review of Environment, Energy and Economics Year: 2015 Month: July File-URL: http://www.feem.it/getpage.aspx?id=7588 Handle: RePEc:fem:femre3:2015.07-01 Template-Type: ReDIF-Article 1.0 Author-Name: Niaz Bashiri Author-WorkPlace-Name: FEEM Author-Name: Andrea Bastianin Author-WorkPlace-Name: FEEM and University of Milan Author-Name: Elisa Bortolussi Author-WorkPlace-Name: University of Milan-Bicocca Author-Name: Francesca Conti Author-WorkPlace-Name: FEEM Author-Name: Matteo Manera Author-WorkPlace-Name: FEEM and University of Milan - Bicocca Author-Name: Marcella Nicolini Author-WorkPlace-Name: FEEM and University of Pavia Title: Current Issues on the Price of Oil: Decline, Forecasting, Volatility and Uncertainty Abstract: The 2015 workshop on “Recent evolutions of oil and commodity prices”, organized by FEEM, focused on the sharp decline in the oil price in 2014. High crude oil production and slower demand growth explain a large fraction of the current low level of prices, but a complex set of factors is responsible. In light of these events, forecasting the price of oil is challenging and requires composite information: accurate forecasting models are able to predict this. The decline in price is reflected in an increase in oil price volatility and uncertainty, which have relevant implications on the real economy. Journal: Review of Environment, Energy and Economics Classification-JEL: Q41, Q43, Q47 Keywords: Oil Price Decline, Forecasting, Volatility, Uncertainty Month: July File-URL: http://www.feem.it/getpage.aspx?id=7656 Handle: RePEc:fem:femre3:2015.07-02 Template-Type: ReDIF-Article 1.0 Author-Name: Muhammad Yunus Author-WorkPlace-Name: Grameen Bank Title: Profit-Not for Profit Convergence to Achieve Sustainable Value. A Conversation with Muhammad Yunus Abstract: Re3 publishes the interview and excerpts from the keynote speech delivered by Nobel Prize laureate Muhammad Yunus, founder of Grameen Bank, on the occasion of the workshop “Convergence between profit and not for profit to achieve sustainable value. Perspectives from the Social Enterprise World Forum 2015”, held in Milan on July 3, 2015. Journal: Review of Environment, Energy and Economics Year: 2015 Month: July File-URL: http://www.feem.it/getpage.aspx?id=7687 Handle: RePEc:fem:femre3:2015.07-03 Template-Type: ReDIF-Article 1.0 Author-Name: ZhongXiang Zhang Author-WorkPlace-Name: College of Management and Economics, Tianjin University, Tianjin, China and School of Economics, Fudan University, Shanghai, China Title: Carbon Emissions Trading in China: Features and Compliance of Pilots and their Transition to a Nationwide Scheme Abstract: The Chinese government has approved seven pilot carbon trading schemes. These pilot regions are deliberately selected to be at varying stages of development and are given considerable leeway to design their own schemes. These schemes have features in common, but vary considerably in their approach to a variety of issues, such as the coverage of sectors, allocation of allowances, price uncertainty, and enforcement and compliance. This article examines key features and compliance of China’s carbon trading pilots, lessons learned in the pilots, and the transition from the pilots to a national carbon trading scheme. Insights offered into the design, implementation and compliance of China’s carbon trading pilots and potential pathways help make these pilots work reliably and effectively and smooth the transition from the pilots to a national carbon trading scheme. Journal: Review of Environment, Energy and Economics Classification-JEL: Q43, Q48, Q52, Q54, Q58 Keywords: Pilot carbon trading schemes, Design, implementation and compliance, National carbon trading scheme, China Year: 2015 Month: July File-URL: http://www.feem.it/getpage.aspx?id=7724 Handle: RePEc:fem:femre3:2015.07-04 Template-Type: ReDIF-Article 1.0 Author-Name: Isabella Alloisio Author-WorkPlace-Name: Fondazione Eni Enrico Mattei (FEEM), International Centre for Climate Governance (ICCG), Centro Euro-Mediterraneo sui Cambiamenti Climatici (CMCC) Title: The Water-Energy-Food Nexus Abstract: The Water-Energy-Food Nexus (WEF Nexus) addresses the interrelated nature of our global natural resource systems. This reflection aims to better understand the interactions between the natural environment and human activities, and to suggest a more coordinated management and use of natural resources. A set of solutions are proposed and some best practices at the international level on the coordinated use of water and energy are presented. Journal: Review of Environment, Energy and Economics Classification-JEL: Q24, Q25, Q28, Q40, Q42, Q48 Keywords: WEF Nexus, Integrated Resource Management, Water and Energy Security Year: 2015 Month: July File-URL: http://re3.feem.it/getpage.aspx?id=7723 Handle: RePEc:fem:femre3:2015.07-05 Template-Type: ReDIF-Article 1.0 Author-Name: Elisa Calliari Author-WorkPlace-Name: Fondazione Eni Enrico Mattei, Centro Euro-mediterraneo sui Cambiamenti Climatici and Ca’ Foscari University of Venice Title: Short-lived Climate Pollutants: a Closer Look into Near- and Long-term Benefits from their Reduction Abstract: According to several commenters, the encouraging figures included in the recently released Chinese Intended Nationally Determined Contributions (INDC) should be regarded as the latest battle in the “pollution war” – using the words by Premier Li Keqiang- declared by China in recent years. Protecting climate would be mainly driven by the national interest in reducing the toxic air pollution levels resulting from the rapid coal-driven economic growth and safeguarding public health, food, water and energy supply. It is widely acknowledged that acting on the so-called Short-Lived Climate Pollutants (SLCPs) can both provide important climate and societal benefits in the near-term. In this article, we review the most recent literature on SLCPs mitigation by focusing especially on its implication for achieving the 2°C target, and with the aim of complementing and directing policy debate accordingly with the latest scientific evidence. Journal: Review of Environment, Energy and Economics Classification-JEL: Q24, Q25, Q28, Q40, Q42, Q48 Keywords: Short-Lived Climate Pollutants, Climate Change Mitigation, Air Pollution, Co-benefits Year: 2015 Month: September File-URL: http://www.feem.it/getpage.aspx?id=7861 Handle: RePEc:fem:femre3:2015.09-01 Template-Type: ReDIF-Article 1.0 Author-Name: Keshav Dogra Author-WorkPlace-Name: Columbia University Author-Name: Anne-Katrin Roesler Author-WorkPlace-Name: Bonn Graduate School of Economics Author-Name: Jörg L. Spenkuch Author-WorkPlace-Name: Northwestern University Title: News from the 2015 FEEM Award Abstract: The three young winners of the 2015 FEEM Award, Keshav Dogra, Anne-Katrin Roesler and Jörg L. Spenkuch, explain the motivations behind their papers. The topics range from the euro debt crisis and the rational inattention theory to the backward reasoning hypothesis in sequential games and applied to the US Senate. Journal: Review of Environment, Energy and Economics Year: 2015 Month: September File-URL: http://re3.feem.it/getpage.aspx?id=7869 Handle: RePEc:fem:femre3:2015.09-02 Template-Type: ReDIF-Article 1.0 Author-Name: Francesco Bosello Author-WorkPlace-Name: Fondazione Eni Enrico Mattei (FEEM) and Euro-Mediterranean Center on Climate Change Title: Catastrophic Risk, Precautionary Abatement, and Adaptation Transfers Abstract: In a short video, Prof. Francesco Bosello explains the motivation of the paper "Catastrophic Risk, Precautionary Abatement, and Adaptation Transfers", which contributes to the normative literature on mitigation and adaptation by framing the question of their optimal policy balance in the context of catastrophic climate risk. Journal: Review of Environment, Energy and Economics Year: 2015 Month: September File-URL: http://re3.feem.it/getpage.aspx?id=7886 Handle: RePEc:fem:femre3:2015.09-03 Template-Type: ReDIF-Article 1.0 Author-Name: Carlo Carraro Author-WorkPlace-Name: Fondazione Eni Enrico Mattei (FEEM) and Ca' Foscari University of Venice Title: Measuring and Assessing Sustainable Development Goals Abstract: The United Nations General Assembly discussed and approved the new Sustainable Development Goals (SDGs) during the UN Sustainable Development Summit held in New York on September 25-27, 2015. FEEM Research Director, Prof. Carlo Carraro, briefly presents the preliminary results of FEEM’s APPS – Assessment, Projections and Policy for Sustainable Development Goals - project. Journal: Review of Environment, Energy and Economics Year: 2015 Month: October File-URL: http://re3.feem.it/getpage.aspx?id=7898 Handle: RePEc:fem:femre3:2015.10-01 Template-Type: ReDIF-Article 1.0 Author-Name: André Jol Author-WorkPlace-Name: European Environment Agency Author-Name: Connie Hedegaard Author-WorkPlace-Name: Former European Commissioner for Climate Action Title: How to Close the Gap between Science and Policy? Abstract: How to close the gap between science and policy? Why does science need to communicate better? André Jol, EEA Head of the Climate change impacts, vulnerability and adaptation group, and Connie Hedegaard, former European commissioner for climate action, share their views on these two important issues in exclusive interviews to Re3. Journal: Review of Environment, Energy and Economics Year: 2015 Month: October File-URL: http://www.feem.it/getpage.aspx?id=7915 Handle: RePEc:fem:femre3:2015.10-02 Template-Type: ReDIF-Article 1.0 Author-Name: Isabella Alloisio Author-WorkPlace-Name: FEEM and CMCC Author-Name: Alessandro AntimianiINEA Author-WorkPlace-Name: INEA Author-Name: Simone Borghesi Author-WorkPlace-Name: University of Siena and FEEM Author-Name: Enrica De Cian Author-WorkPlace-Name: FEEM and CMCC Author-Name: Maria Gaeta Author-WorkPlace-Name: Studies and Strategy Unit, ENEA Author-Name: Chiara Martini Author-WorkPlace-Name: Energy Efficiency Unit, ENEA Author-Name: Ramiro Parrado Author-WorkPlace-Name: FEEM and CMCC Author-Name: Maria Cristina Tommasino Author-WorkPlace-Name: Studies and Strategy Unit, ENEA Author-Name: Elena Verdolini Author-WorkPlace-Name: FEEM and CMCC Author-Name: Maria Rosa Virdis Author-WorkPlace-Name: Studies and Strategy Unit, ENEA Title: The Challenges of Decarbonization in Italy Abstract: This article draws from the Executive Summary of “Pathways to Deep Decarbonization in Italy”, the Italian Country Report which was published within the “Deep Decarbonization Pathways Project (DDPP)”, an initiative of the Sustainable Development Solutions Network (SDSN) and the Institute for Sustainable Development and International Relations (IDDRI). This report contributes to the national debate on climate-change mitigation, and the importance of deep decarbonization, by examining three alternative pathways that could reduce Italian CO2 emissions by at least 40% in 2030 and 80% in 2050, compared to 1990. The research for the Country Report for Italy “Pathways to deep decarbonization in Italy” was conducted jointly by teams at the Italian National Agency for New Technologies, Energy and Sustainable Economic Development (ENEA) and the Fondazione Eni Enrico Mattei (FEEM). Journal: Review of Environment, Energy and Economics Year: 2015 Month: October File-URL: http://www.feem.it/getpage.aspx?id=7911 Handle: RePEc:fem:femre3:2015.10-03 Template-Type: ReDIF-Article 1.0 Author-Name: Manfred Hafner Author-WorkPlace-Name: Associate Researcher, FEEM Author-Name: Simone Tagliapietra Author-WorkPlace-Name: Senior Researcher, FEEM Title: The Role of Natural Gas in the EU Decarbonisation Path Abstract: This article summarizes the paper "The Role of Natural Gas in the EU Decarbonisation Path" just published in the FEEM series "Note di Lavoro". The paper argues that over the last decade decarbonisation has become a key priority for the EU but, on the contrary of renewable energy or energy efficiency, the role of gas in this process has never been clearly defined. This uncertainty opens a wide debate on the future role of gas in the EU energy system, particularly vis-à-vis the progressively stronger role of renewables in the EU energy mix. The paper seeks to tackle this issue with the aim to explore what role gas might play in making the EU decarbonisation path more balanced and secure up to 2030 and beyond. Classification-JEL: Q40, Q42, Q48 Keywords: Gas, Decarbonisation, EU Energy Policy Journal: Review of Environment, Energy and Economics Year: 2015 Month: October File-URL: http://www.feem.it/getpage.aspx?id=7983 Handle: RePEc:fem:femre3:2015.10-04 Template-Type: ReDIF-Article 1.0 Author-Name: Massimo Tavoni Author-WorkPlace-Name: FEEM Title: The Planetary Individual Abstract: What can we do to change our impact on our planet? In this video lesson Massimo Tavoni, Deputy Coordinator of the Climate Change and Sustainable Research Programme, shows us some simple steps we can take at home, school, the office, and on the road to reduce greenhouse gas emissions and the risks associated with climate change. This is the first of a series of video lessons prepared by FEEM researchers for NECST, an Erasmus+ project, aimed at the digital and shared production of scientific contents in the field of energy and the environment. Journal: Review of Environment, Energy and Economics Year: 2015 Month: November File-URL: http://www.feem.it/getpage.aspx?id=8008 Handle: RePEc:fem:femre3:2015.11-01 Template-Type: ReDIF-Article 1.0 Author-Name: Manfred Hafner Author-WorkPlace-Name: Associate Researcher, FEEM Author-Name: Simone Tagliapietra Author-WorkPlace-Name: Senior Researcher, FEEM Title: Is Europe on Track with its 2020 Renewable Energy Target? Abstract: Over the last years EU energy policy has strongly focused on the development of renewable energy, also through the adoption of a dedicated 2020 target. But is the EU currently on track to meet this target? With this article, FEEM energy analysts Manfred Hafner and Simone Tagliapietra aim to provide a quick overview on the issue, looking at both the EU-wide and the national levels of analysis. Classification-JEL: Q40, Q42, Q48 Keywords: Renewable Energy, EU Energy Policy, 2020 Climate and Energy Package Journal: Review of Environment, Energy and Economics Year: 2015 Month: November File-URL: http://www.feem.it/getpage.aspx?id=8030 Handle: RePEc:fem:femre3:2015.11-02 Template-Type: ReDIF-Article 1.0 Author-Name: Scott Barrett Author-WorkPlace-Name: Columbia University Author-Name: Carlo Carraro Author-WorkPlace-Name: FEEM, Ca' Foscari University of Venice and CEPR Author-Name: Jaime de Melo Author-WorkPlace-Name: University of Geneva, FERDI and CEPR Title: Towards a Workable and Effective Climate Regime Abstract: This year, for the first time ever, nearly all of the world’s countries are making pledges to help limit future climate change. As of 1 October, 147 countries (representing about 85% of global emissions) have submitted their Intended Nationally Determined Contributions. These pledges, if carried out in full, are expected to lower emissions relative to the ‘business as usual’ forecast. However, they are not expected to prevent emissions from increasing above today’s level through 2030. To meet the global goal of limiting mean global temperature change to 2°C relative to the pre-industrial level, much more will need to be done after 2030. Eventually, emissions will have to fall to zero worldwide – either that, or countries will need to remove carbon dioxide directly from the atmosphere. This article introduces a new Vox eBook that looks into what needs to be done to build a climate regime that is both workable and effective. Journal: Review of Environment, Energy and Economics Year: 2015 Month: November File-URL: http://re3.feem.it/getpage.aspx?id=8049 Handle: RePEc:fem:femre3:2015.11-03 Template-Type: ReDIF-Article 1.0 Author-Name: Grammenos Mastrojeni Author-WorkPlace-Name: Ministry of Foreign Affairs, Rome, Italy Title: The Climate Challenge and the Value of Lands Abstract: Voluntary CO2 emission cuts announced so far by States are not enough to stay on target and avoid trespassing the 2° threshold: 13 gigatons carbon dioxide equivalent are missing to bridge the distance. Can the energy sector alone carry this burden? Better land management and degraded lands recovery could contribute one fourth of the gap, in a cost effective way and with extremely consistent mitigation and adaptation co-benefits. Classification-JEL: Q15, Q2, Q24, Q28, Q4, Q5 Keywords: CO2 emissions, Land Management Journal: Review of Environment, Energy and Economics Year: 2015 Month: November File-URL: http://re3.feem.it/getpage.aspx?id=8084 Handle: RePEc:fem:femre3:2015.11-04 Template-Type: ReDIF-Article 1.0 Author-Name: Italian Scientific Societies and Associations Author-WorkPlace-Name: Italy Title: Italian Scientific Community releases Scientific Statement on Climate Change Abstract: The Rome 2015 - Science Symposium on Climate (November 19-20, 2015 at FAO Headquarters in Rome) produced a Scientific Statement on Climate Change that calls policy-makers, entrepreneurs, institutions and the public at large to take action on climate change. The Statement is authored by the representatives of the several Italian scientific firms and associations that co-organized the event, and it is available in English and Italian. All the Scientific Societies and Associations that undersigned the Scientific Statement also contributed short statements on their specific perspective on the climate sciences in view of COP21 in Paris. Re3 is pleased to publish the Scientific Statement and invites all the Scientific Societies or Associations that agree with the Statement and would like to undersign, share and provide its specific statement, to do so at the link provided below. Journal: Review of Environment, Energy and Economics Year: 2015 Month: November File-URL: http://re3.feem.it/getpage.aspx?id=8120 Handle: RePEc:fem:femre3:2015.11-05 Template-Type: ReDIF-Article 1.0 Author-Name: Almut Arneth Author-WorkPlace-Name: Karlsruhe Institute of Technology Author-Name: Scott Barrett Author-WorkPlace-Name: Columbia University Author-Name: Carlo Carraro Author-WorkPlace-Name: Fondazione Eni Enrico Mattei Author-Name: Edoardo Croci Author-WorkPlace-Name: IEFE – Centre for Research on Energy and Environmental Economics and Policy, Bocconi University Author-Name: Christopher Kennedy Author-WorkPlace-Name: University of Toronto Author-Name: Benedetta Lucchitta Author-WorkPlace-Name: IEFE – Centre for Research on Energy and Environmental Economics and Policy, Bocconi University Author-Name: Giandomenico Magliano Author-WorkPlace-Name: Italian Embassy in Paris Author-Name: Massimo Tavoni Author-WorkPlace-Name: Fondazione Eni Enrico Mattei and Politecnico di Milano Title: COP21 Side Event on Multi-level Climate Governance Abstract: The side event “Multi-level Climate Governance: an integrated Analysis of National, Regional and Local Policies” aimed at assessing the current framework of multi-level governance for climate change control, providing an integrated analysis of national, regional, and urban policies and commitments. By comparing INDCs according to different metrics, it provides an overview of their future implementation. The event was co-organized by FEEM, University Luigi Bocconi, Centre for Research on Energy and Environmental Economics and Policy (IEFE) and University of Edinburgh. Re3 is pleased to publish the video of the event along with a few comments on the debate. Journal: Review of Environment, Energy and Economics Year: 2015 Month: December File-URL: http://re3.feem.it/getpage.aspx?id=8123 Handle: RePEc:fem:femre3:2015.12-01 Template-Type: ReDIF-Article 1.0 Author-Name: Keigo Akimoto Author-WorkPlace-Name: Institute of Innovative Technology for the Earth Author-Name: Carlo Carraro Author-WorkPlace-Name: Fondazione Eni Enrico Mattei Author-Name: Raymond Kopp Author-WorkPlace-Name: Resources for the Future Author-Name: Massimo Tavoni Author-WorkPlace-Name: Fondazione Eni Enrico Mattei and Politecnico di Milano Title: COP21 Side Event on Transparency, Policy Surveillance and Levels of Effort Abstract: A natural outcome of the emerging "pledge and review" approach to international climate change policy is the interest in comparing mitigation efforts among countries. Many will want to know if similar or “peer” countries are undertaking (or planning to undertake) a “comparable” effort in mitigating their greenhouse gas emissions. The speakers at this side event on "Transparency, Policy Surveillance and Levels of Effort" presented a framework for comparing mitigation efforts across nations, drawing from a set of principles for designing and implementing informative metrics. The event was co-organized by FEEM, the Research Institute of Innovative Technology for the Earth (RITE) and Resources for the Future (RFF). Journal: Review of Environment, Energy and Economics Year: 2015 Month: December File-URL: http://re3.feem.it/getpage.aspx?id=8168 Handle: RePEc:fem:femre3:2015.12-02 Template-Type: ReDIF-Article 1.0 Author-Name: Andrea Tilche Author-WorkPlace-Name: Climate Action and Earth Observation Unit, Directorate-General for Research and Innovation, EU Commission in Brussels Author-Name: Antonello Nociti Author-WorkPlace-Name: Writer and philosopher, Italy Title: Laudato Si':the Beauty of Pope Francis' Vision Abstract: The Encyclical Letter of Pope Francis, "Laudato si'", addresses for the first time in the Church's history the subject of the protection of the environment, "the care of our common home". This rich and complex document analyses the causes of today’s ecological challenges, acknowledging the scientific consensus but adding an original analysis of the social, cultural, ethical and spiritual dimensions that are associated with the degradation of the environment. The Pope’s vision is that the ecological crisis is ultimately linked to a crisis of values, a spiritual void that permeates today’s technocratic society. In the authors' analysis, what makes this document particularly innovative is the Pope's appeal to action that, acknowledging the urgency and the immensity of the challenge we face, sees also its beauty, being a unique occasion for humankind to show what it is capable of doing, and that is capable of taking responsibility. This positive narrative has the potential to mobilise people and governments towards a joint action that cannot however be limited to technological fixes, but should be broadened to consider new development models capable of addressing the deep roots of this crisis. Classification-JEL: Q00 Keywords: Encyclical, Pope Francis, Climate Change, Ecological Crisis, Ethics, Responsibility Journal: Review of Environment, Energy and Economics Year: 2015 Month: December File-URL: http://re3.feem.it/getpage.aspx?id=8171 Handle: RePEc:fem:femre3:2015.12-03