Financial stability at risk due to investing rapidly in renewable energy

Safarzynska, Karolina; Bergh, J.C.J.M. van den

doi:10.1016/j.enpol.2017.05.042

Cited by 53 publications

(28 citation statements)

References 37 publications

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“…Safarzyńska and Van den Bergh [78] state that an overly rapid transition to renewable energy can pose a serious burden on the financial system because investments in renewable energy increase the price of electricity. The need for subsidies is also pointed out for renewables by Frisari and Stadelmann [79], who consider that the high cost and perceived risks represent significant barriers to the deployment of stable and clean energy in developing countries, and that public financing to improve projects' financial profiles is required.…”

Section: Financial Resources and The Circular Economymentioning

confidence: 99%

Financial Resources for the Circular Economy: A Perspective from Businesses

et al. 2019

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In recent years, a number of case studies of the circular economy in business have been analysed by academics. However, some areas of research are little explored at the micro level, such as the study of the characteristics of the financial resources applied to investments to introduce circular activities in businesses. Therefore, the main objective of this study is to define the resources applied to circular activities by firms. To describe the influence of financial resources on achieving a more advanced circular economy in business is also an objective of this paper. Using a sample of Spanish companies, we applied a partial least square structural equation model (PLS-SEM) to enhance the knowledge about financial resource management in the framework of the resource-based view. We find that availability of funds, quality of the firm’s own financial resources and public subsidies have a positive effect in stimulating the implementation of circular economy initiatives in businesses.

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Section: Financial Resources and The Circular Economymentioning

confidence: 99%

Financial Resources for the Circular Economy: A Perspective from Businesses

et al. 2019

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“…Subsequent research between 2013 and 2019 identifies eight papers with the co-occurrence of the words "sustainability transitions" and "finance". The research themes evident in these papers are i) applying the MLP to understand the financial reforms in the retail banking sector of the UK (Seyfang and Gilbert-Esquires, 2018), the emerging storyline of green finance as niche innovation in Italy (Falcone et al, 2018) and the contribution of developments banks to the energy transition in the UK, Australia and Germany (Geddes et al, 2018); ii) demonstrating the financial policy challenges that the ecological crisis present for sustainability transitions and the energy sector (Röpke, 2017;Safarzyñska et al, 2017); iii) illustrating the structural challenges and financial innovations for achieving a just transition in South Africa (Mohamed, 2019;Naidoo, 2019); and iv) categorising the financial system as a socio-technical system and adoption of sustainable finance as a business opportunity (Urban et al, 2019 The section shows that research on finance within the sustainability transitions field is embryonic, though researchers generally agree that further conceptual and empirical research is needed to understand the role of finance at a systems-level.…”

Section: Research Themesmentioning

confidence: 99%

Relating Financial Systems to Sustainability Transitions: Challenges, Demands and Dimensions

Naidoo

2019

SSRN Journal

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The Paris Climate Agreement, SDGs and Addis Ababa Action Agenda call for the financial system's approach to sustainability and climate breakdown to be "consistent and integrated". So far, sustainability transitions (ST) research fails to engage with such calls, offering limited analyses and conceptualisation of financial systems and transition processes. In this paper, a scoping review of finance and ST research shows a polarised context, ranging from nascent orthodox to critical analysis with limited cross-engagement. The paper applies a novel approach towards bridging the polarity; by interpreting the characteristics of the sustainability transition process from the perspective of the demands, it places on the financial system. Five initial demands emerge-directional changes, temporal dynamics, co-existent systems impact, contested social context and contextual experimentation. Finally, the paper offers initial dimensions for scholars to engage in for informing the response of financial systems to the demands of sustainability transitions. Research Highlights • Scopes and interprets cross-engagement between sustainability transitions and finance research • Identifies limitations in conceptual development of finance in sustainability transitions research • Applies insights from sustainability transitions to formulate initial demands on financial systems • Offers initial dimensions for informing response to the demands of sustainability transitions • Contributes towards evaluating assumptions of response of financial system relative to demands

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“…For the control measures of carbon market can be effectively fed back to the electricity market, this model considers the deviation between the actual carbon emission and the target value and develops some weighting coefficients, including power industry carbon emissions initial quota weighted coefficient, trade quota weighted coefficient, and carbon trading price weighted coefficient. By adjusting the weighting coefficient, the model adjusts the carbon emission target and then controls the power industry carbon emissions [26,27].…”

Section: Parameters Settingmentioning

confidence: 99%

The Feedback Mechanism of Carbon Emission Reduction in Power Industry of Delayed Systems

Tan

Zhang

et al. 2017

Mathematical Problems in Engineering

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Carbon emissions of power industry in China have accounted for more than half of the total emissions. How to decrease them is important for realizing carbon emission reduction. This paper proposes a carbon market feedback mechanism to power market, comprehensively considering the influence of generation structure, carbon intension, and technological progress on carbon emission reduction in power industry, and builds a potential model based on dynamic system. Operation system results show that the increasing trend of carbon emission can be controlled effectively but always with a lag. At the same time, sensitivity analysis results show that carbon emission reduction can be better realized by adjusting power structure and improving technological level; the former can reduce 32% and the latter can reduce 60% at most.

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Financial stability at risk due to investing rapidly in renewable energy

Cited by 53 publications

References 37 publications

Financial Resources for the Circular Economy: A Perspective from Businesses

Financial Resources for the Circular Economy: A Perspective from Businesses

Relating Financial Systems to Sustainability Transitions: Challenges, Demands and Dimensions

The Feedback Mechanism of Carbon Emission Reduction in Power Industry of Delayed Systems

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