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Examines global environmental issues and provides tools for environmentally aware decision-making
Covers areas ranging from financial returns earned on a green stock-market-index-based fund, participating in the CER market and private initiatives in agro-forestry to psychological and social factors influencing private investment decisions
A blend of economic theory and empirical finance – and hence appealing to researchers and academics as well as main-street investors
Enabling Environment is as real as it gets. The global commons are jointly owned and their inhabitants are jointly obligated to ensure their preservation. In the face of protracted negotiations, convoluted documentation, discord, and incessant bickering among scientists, activists, pressure groups of various hues, politicians and negotiators, very often the people on the ground are ignored or taken for granted. In the meantime, life meanders along. It is these ‘everyday individuals’ who make consumption-related choices on their lifestyles, travel or on preferring certain products or services over others. Enabling Environment puts the individual front and center.
Ecosystem services need to be recognized, appropriately priced and the costs allocated to the agents concerned. Enabling Environment is about defining economic and non-economic incentive structures and utilizing them to arrive at pro-environmental outcomes. This collection of articles illustrates the use of existing social, economic and regulatory structures, and the financial architecture and instruments, suitably modified or extended, to help internalize the environmental externality.
Content Level »Research
Keywords »Ecosystem Services Payments - Environmental Goodwill Capital - Fossil Fuel Pricing - Green Stock-Market Index - Moral Suasion
1. Rainmakers.- 2. The Irrelevance of Political Populism: Evidence from Subsidies on Fossil Fuels.- 3. The Persistence of Green Goodwill.- 4. Broadbased Green Stock-market Index.- 5. Appendix to Chapter 4.- 6. Implied Valuation of Environmental Externalities.- 7. Basket Currency for Pricing Emission Reduction Certificates.- 8. A Retail Market for Ecosystem Services.- 9. Inducing Pro-environmental Behaviour.