Energy Transition, Climate Change, and COVID-19: Economic Impacts of the Pandemic

Description

This volume analyzes the impacts of the COVID-19 pandemic on energy transition and climate change from an economic perspective. Since its emergence in early 2020, the COVID-19 pandemic has had a powerful effect on multiple facets of the global economy. The unknown scope and duration of the pandemic and its associated economic shocks have made energy security and the process of clean energy transition highly unpredictable. To combat this, this edited volume presents a wide range of theoretical and empirical research at the nexus of the COVID-19 pandemic and energy, resource, and environmental economics. Chapters focus on four major themes: the impact of crises on energy security, the role of resilient energy systems in society, the challenges of clean energy transition, and economic impacts of COVID-19 on climate change. Providing rigorous analysis of an evolving situation that will continue to impact the global energy market, this volume will be of interest to researchers and students of energy economics, environmental economics, and resource economics as well as policy professionals involved in climate change and energy transition. Preface Contents Assessing the Relationship Between Air Quality, Wealth, and the First Wave of COVID-19 Diffusion and Mortality 1 Introduction 2 Data and Preliminary Analysis 3 Cluster Analysis 4 Conclusions Appendix References COVID-19 Recovery Packages and Industrial Emission Rebounds: Mind the Gap 1 Introduction 2 Methodology and Data 2.1 The Emission Reduction Multiplier Matrix 2.2 Datasets: Input–Output Tables and Emissions 3 Cascading Greenhouse Gas Emissions 3.1 Emission Coefficients 4 Channels of Emission Cascades 5 Discussions and Conclusion Appendix Additional Information References Low-Carbon Transition of EU-ETS Firms: Assessing the Long-Term Effects of Covid-19 1 Introduction 2 Stylised Facts 3 Abatement Costs Modelling 4 Intertemporal Behaviour of Firms 5 End of the Market Equilibrium 6 Dynamic Market Equilibrium 7 Data and Model Calibration 8 Simulation Results 9 Conclusion References Modelling Sustainability Transitions Under Covid-19 1 Introduction 2 A Discrete Choice Model of Transitions with Environmental Damage and Covid-19 Impact 2.1 The Modelling Framework 2.2 Decision Feedback 2.3 Stability Analysis of the Model 3 Simulation Study of Sustainability Transitions Under Covid-19 3.1 Simulations Setting 3.2 Exploration of Covid-19 Impact on Sustainability Transitions Under Different Policies 3.3 Exploration of Subsidies Effect on Sustainability Transitions Under Different Levels of Covid-19 Impact 4 Conclusion References Weather, Pollution, and Covid-19 Spread: A Time Series and Wavelet Reassessment 1 Introduction 2 Data and Methods 2.1 Data 2.2 Time Series and Wavelet Analysis 3 Results 4 Conclusion References The Triple Climatic Dividend of COVID-19 1 Introduction 2 The Main Socio-Economic Impacts of the COVID-19 Pandemic in 2020 and 2021 3 Direct Effect of COVID-19 on Greenhouse Gas Emissions 3.1 Different Emission Reduction Across Countries 3.2 Transport Saw the Most Significant Drop in Emissions, While the Decarbonization of the Power Sector Has Accelerated 4 The Green Recovery Plans and Their Impacts on Climate Change 5 Are Consumers Becoming Shifters? 6 Concluding Remarks References COVID-19 and Cognitive Biases: What Lessons Can Be Learned to Fight Against Global Warming 1 Introduction 2 Cognitive Biases: Management of Health and Climate Crises 2.1 Chronology of Health and Climate Alerts 2.2 Cognitive Biases and Error of Assessment in a Crisis Situation: Comparative Elements 3 The COVID-19 Crisis: An Opportunity for the Climate? 3.1 Impact of the COVID-19 Crisis on the Environment and Climate 3.2 The Circular Economy: A Solution for a Sustainable Development Post-COVID-19? 4 Conclusions References COVID-19's Impact on Eliminating Fossil Fuel Subsidies, Hence Fuel Poverty and Energy Justice Abbreviations 1 Introduction 2 How the Issue of Fossil Fuel Subsidy Removal Has Become a Global Political Mainstream Issue 3 What Are Fossil Fuel Subsidies? 4 The Impact of Fossil Fuel Subsidies on Fuel Poverty, Energy Access and Energy Justice 5 How Removing Fossil Fuel Subsidy Could Aid Country Efforts to Address Climate Change 6 Overcoming the Challenges of Fossil Fuel Subsidy Removal 7 COVID-19, an Opportunity to Refocus Country Efforts on Energy Access and Energy Justice Through the Removal of Fossil Fuel Subsidies References The Impact of the COVID Pandemic: What Can We Expect for Morocco's Energy Future? 1 Introduction 2 Effect of the Pandemic on the Moroccan Economy in Comparison to World Trends 2.1 Impact for 2020 2.2 Expected Impacts for 2021 3 Long-Term Impact of the Pandemic on Electricity Demand Growth 4 Short-Term Impacts of Lockdown in the Electricity Sector 5 Impact of Lockdown on Load Curve 6 Concluding Remarks Appendix 1: Trends in countries used for comparison Tunisia Jordan Turkey Poland Peru Appendix 2: Scenarios per Sector Annex 3: The Impact of Ramadan in the Load Curve Ramadan Reduced Electricity Demand in 2017 Ramadan Increased Electricity Demand in 2019 References A Proposition Relationship Between Green Workplace Environment and Employees Green Behavior on Organizational and Environmental Impacts 1 Introduction 2 Literature Review 2.1 Linking Employees Green Behavior and Green Workplace Environment in the Context of Algerian Green Organization 3 Research Model, Theories, and Hypotheses Propositions 4 Implications 5 Conclusions References The Oil-Price Threshold Effect on External Balances in Saudi Arabia, Russia, and Canada: Accounting for Geopolitics and Environmental Sustainability 1 Introduction 2 Literature Review 3 Methodology 3.1 The Model 3.2 Empirical Methodology: Threshold Regression 3.2.1 Why Employ a TAR Model? 3.2.2 Estimation of a TAR Model 3.3 Data 4 Results and Robustness Checks 4.1 Saudi Arabia 4.2 Russia 4.3 Canada 4.4 Environmental Sustainability 5 Conclusion Annex 1: Theoretical Background International Investment Position and Balance of Payments The Relationship Between External Balance, Fiscal Balance, and National Accounts The Medium-Term Macroeconomic Balance Approach Summary References Index