Abstract: Public acceptance of transport transition policies in the European Union is low as they are considered regressive. This paper provides a clear way of identifying the winners and losers of these policies by focusing on transport poverty. A two-step methodology is followed. First, principal component analysis (PCA) unifies the literature by defining the main underlying dimensions of transport poverty. These highlight the importance of a household’s spatial matching, self-imposed driving restrictions, and available resources. Second, the use of a latent class model (LCM) makes it possible to classify households according to four profiles in the first-ever transport poverty scale (TPS). 14.7 million German households are classified as transport-poor and car-dependent. These two classes represent the most constrained households in terms of resources (time and money) and options available for transport. The degree of spatial matching plays a key role in defining class assignments. Finally, the application of the TPS quantifies the heterogeneous reaction of each transport poverty class to increases in the cost of driving (e.g., the carbon tax). The car-dependent and the transport-poor are the losers in the transition due to inelastic driving demand. Policies reflecting class-based responses to achieve the goals of the transport transition are presented. Alleviating the burden on the transport-poor and car-dependent could increase the acceptability of policies and accelerate the transport transition. 

Abstract: The energy transition implies significant changes for the transport sector. In particular, the mobility of households will be largely impacted by public policies aiming at mitigating climate change. However, such policies may have adverse distributional effects that enhance the mobility cost for low-income people or even prevent them from being mobile. Therefore, we build a geographical distribution index based on availability and costs of transportation - a Mobility Gini. This index encompasses household heterogeneity towards transportation choices, household value of travel time and comfort, and transportation offers in the different regions. In addition, we develop the Emissions Mobility Gini to account for lack of access to clean transport. To understand the decision making process of households, we develop a theoretical model of transport choice versus consumption of other goods. With this model, we test the effects of policies for the Just and Clean transition of the transport sector on household choices and their effects on our proposed inequality measures. Thanks to the methods proposed here, we quantify the potential inequality effects of climate policies for the transport transition.

Abstract: The French government has set a target of Zero-Net Artificialization (ZNA) by 2050. Drawing on research on cost-efficiency and the implicit value of carbon, we propose a country-level macroeconomic model in which the social planner integrates the ZNA objective. It is then calibrated for France using an innovative dataset based on geo-spatial data including key variables, such as, soil degradation, soil opportunity costs and heterogeneous costs of land restoration. We provide shadow-values for artificialization, both at the municipal and at the national level, intended to inform public decisions aimed at achieving the ZNA objective in France. These values account for the heterogeneity of the soils and the costs. However, since the approach is not based on a cost-benefit analysis requiring to evaluate all eco-system services, it substantially simplifies the valuation exercise and is therefore feasible for public administrations. In addition, the methodology is replicable for all EU countries with similar datasets.

Abstract: The French Energy Transition Law (ETL) highlighted the road map for France to comply with the Paris Agreement. It included Article 173-VI, a stringent article tightening the disclosure requirements of ESG-efforts of publicly traded companies and asset managers. Using a unique data set, I employ the methodology of event study to show that stock prices of affected companies react negatively to announcements of stricter ESG-disclosure regulations, even when firms are already disclosing high ESG scores. In a second step, I study a medium term premium effect of ESG score disclosure on corporate financial performance (CFP), using panel data for the years between 2014 to 2018, inclusive. 

Abstract: Linkages between climate change and biodiversity do exist (Ramsar, 1973). For instance, on the one hand, climate change affects the hydrological cycle which in turn impacts wetlands. On the other hand, wetlands are critical to mitigating climate change. In this paper, we stress the importance of considering simultaneously the issues of climate change and of biodiversity. We provide a long term analysis of pollution control by considering a global planner. In order to properly capture the linkages between climate change and biodiversity, we explicitly account for (i ) the effect of biodiversity on the natural assimilation of GHG and (ii ) the effect of GHG concentration on the biodiversity dynamics. In addition, we model the role of nature’s regeneration capacity and present numerical results. We then appraise whether applying this framework affects the existing long run scenarios for the evolution of GHG concentration. Our results stress that policies derived under wrong scenarios are not only suboptimal but lead to dramatic situations for GHG concentration. Therefore they suggest (i) to call for better information on GHG concentration dynamics and in particular on the effect of biodiversity on these dynamics in order to build better scenarios for GHG concentration dynamics, (ii) improve the modeling of nature’s capacity to absorb GHG emissions and iii) to focus on biodiversity issues to mitigate climate change.

Abstract: To comply with the objectives of the EU in terms of emissions’ reduction in the transport sector by 2050, a diverse set of policies needs to be implemented. However, key policies may have heterogeneous effects on household budgets and decisions. Although the literature has focused on the direct effects of private transport price shocks on household decisions, this paper pays particular attention to both direct and indirect effects considering public and private transport price shocks. Empirical evidence suggests that decreases in the German commuter tax allowance induce a reduction of commuting distance. In addition, results suggest changes to public, as opposed to private, transport cost can play a role in determining the probability that an individual changes job. The findings prove the relevance of accessibility to public transport for household decisions. They also highlight the development of work-from-home (WFH) has enabled women to become more work-mobile. Policy implications for the transition are highlighted in detail.