Information about the special issue of the journal: 'Climate Action: Transforming Infrastructure, Cultivating Attentiveness, Practicing Solidarity' - a special issue of the journal Sociální studia 19 ...(1 /2022)
The COVID-19 pandemic struck the tourism industry severely. Based on the review of 35 papers that studied the tourism industry in the wake of the pandemic, we propose a resilience-based framework for ...reviving the global tourism industry post-COVID-19. Our framework outlines four prominent factors for building resilience in the industry: government response, technology innovation, local belongingness, and consumer and employee confidence. We argue that using such inclusive resilience; the tourism industry may transform into a new global economic order characterized by sustainable tourism, society's well-being, climate action, and the involvement of local communities. We also offer directions for future research in the area.
•We propose a resilience-based framework for reviving the global tourism industry.•The tourism industry may transform into a new global economic order.•Sustainable tourism, well-being of society, and climate action mark the new order.
This study examines the dynamic influence of legal structure, geopolitical risk on carbon taxes in response to monetary and labor policies in Nordic countries and Canadian provinces. The study ...examines eight carbon taxes collected from Nordic nations and Canadian provinces from 1990 to 2023. The Local Projections Difference in Difference model augments the panel Ordinary Least Squares approach. The Nordic countries obtain approximately 0.13 % carbon reductions in passenger emissions while freight carbon emissions increase; in contrast, Canada achieves 0.04 % carbon reductions in passenger emissions while freight carbon emissions achieve 1.25 % of carbon reduction.
This study also provides evidence that labor policy autonomy undermines the effectiveness of the carbon price. Overall, carbon tax revenue recycling under labor (monetary) policy impact resulted in a carbon decrease of around 0.34 and 0.24 percentage points. This finding reveals that nations experience significant reductions in carbon emissions when reinvesting carbon tax revenues, highlighting the importance of policy integration tailored to unique country contexts towards achieving climate action.
Display omitted
•The LP-DID method, referred to as DGJT in this study, estimates treatment effects using local projections.•Combining monetary and labor policies with carbon tax revenue recycling helps address carbon tax policy design.•Research on the impact of monetary and labor policies in Nordic countries sheds light on the effectiveness of carbon taxes.•LP-DID, which analyzes dynamic treatment effects, offers valuable insights into policy impacts over time.•The autonomy of policies significantly impacts the effectiveness of carbon taxes, particularly labor policy.
In 2015, the United Nations General Assembly launched seventeen Sustainable Development Goals (SDGs), aimed at being achieved by 2030. The SDGs 6 (clean water & sanitation) and 13 (climate actions) ...are two critically important goals concerning water resources that need to be addressed. This study used the Scopus database to explore climate extremes, specifically droughts and floods, in East Asia and highlight the region's efforts and contributions towards achieving SDGs 6 and 13. We found that even before the implementation of SDGs, the topics related to solving the problems of water resources, water quality, and treatment of wastewater using different conceptual models and methodologies were the main concerns in the region. The adoption of SDGs has led to a heightened focus on water and climate sustainability in East Asia, with the considerable surge in climate-related studies after 2019. Under SDG 13, all countries have contributed substantially to climate action research. Keyword analysis indicates that climate change, water management, water treatment, water quality, and adsorption remain prominent. SDGs 6 and 13 have emerged as crucial areas of focus for research and initiatives as the global community grapples with escalating water resources and climate challenges. Under specific keywords search, China has 2nd place in the search with climate and water during the SDGs period, accounting for 21 % of the entire publication from 2015 to 2023. Japan and South Korea account for of 4 % and 3 %, respectively. The research on floods and droughts has garnered significant attention, with half of the ten highly co-cited literature examining the changing pattern of drought, the influence of extreme events on crop yield, and other related topics. Despite the positive contribution of the East Asia region towards SDGs 6 and 13, there is still an urgent need for a more robust framework to improve the complex interconnections between climate actions, clean water, and sanitation for a sustainable soil-water-plant-atmosphere ecosystem.
•The study indicated that research on floods and droughts requires interdisciplinary collective knowledge.•A robust framework is necessary to address interconnections between water and climate actions.•East Asia is making substantial contributions to the global battle against climate change.
Environment-related stranded assets are mainly those economic assets that may lose their value in response to environmental concerns. This study aims to develop new insights into environment-related ...stranded assets by extracting the US stock market view of how collective climate action may impact the value of fossil fuel stocks. To this aim, it adopts a forward-looking method in which an observed stock price is expressed as a probability-weighted average of its business-as-usual (BAU) and non-BAU values. It then expands the information set by options prices to recover the implied probability of climate action and estimate non-BAU and BAU values of stocks ex-ante. Overall, market estimates show a modest decrease in the price of fossil fuel shares at 4% on average, limited to a maximum loss of USD 100 billion. The reasons the potential loss is smaller than widely expected may include (i) investment horizon and ease of exit, (ii) the low probability of collective climate action and discounted-cash-flow impacts, (iii) the ownership of remaining reserves, (iv) the policy environment in the US. The paper further uncovers the distributions of non-BAU and BAU prices, revealing that the size of the carbon bubble has been decreasing since the Paris Agreement.
Display omitted
•Market estimates show a modest decline in the price of fossil fuel shares (~4%).•The probability of climate action implied by investors in their models peaked at•71% after the Paris then dipped to 31% following the US withdrawal.•Carbon bubble has been relatively small. The gap between BAU and non-BAU values has•not been large. The growth in the fossil fuel industry is deemed low by the market.
PDF
