Oxera

Inspiring better decisions through economics and finance

Articles
Depiction of Grounded? The environmental implications of modal shift from air to rail
9 minute read

Grounded? The environmental implications of modal shift from air to rail

With growing pressure on economies to decarbonise in line with the 2015 Paris Agreement, transport—and particularly air transport—has come under increased scrutiny. Moving passengers from air to rail has been proposed as one way to decarbonise the sector. To this end, the EU and national governments have invested in high-speed rail lines and discussed restrictions on short-haul flights. But does rail always trump air from an environmental perspective? Read More

Articles
Depiction of Bidding for a more sustainable future: carbon trading in the EU
7 minute read

Bidding for a more sustainable future: carbon trading in the EU

In the context of a rapid increase in global energy and carbon prices since September 2021, questions have emerged around the functioning of the EU carbon market and the role of carbon prices in public policy. How can we assess whether the carbon market is functioning well? What does the evidence tell us, and is there a need for further policy intervention? Read More

Articles
Depiction of Creating a market for negative emissions
6 minute read

Creating a market for negative emissions

As the curtain dropped on last year’s COP26 summit, many were heartened by the agreements made. Yet more needs to be done to fast-track the roll-out of negative emissions technologies that will be vital in addressing irreversible global damage from carbon emissions. Oxera research for Drax found a range of market design mechanisms through which these technologies could figure in the UK’s Emissions Trading Scheme. Angela Hepworth, Innovation Commercial Director at Drax Group, looks at the role of negative emissions technologies in reaching net zero targets. Read More

Articles
Depiction of Anticipating future public policy changes in environmental cost–benefit analysis
11 minute read

Anticipating future public policy changes in environmental cost–benefit analysis

In pursuit of net zero targets, public entities worldwide are increasingly employing environmental cost–benefit analysis (CBA). The outcome of such an analysis depends on the public environmental policy standards applicable at that time. But what if these standards change? Ilaria Noviello, Oxera Analyst, and Shaun Tey, Economist at Ofcom, draw on a case study involving the Netherlands Authority for Consumers and Markets (ACM) to explore how policymakers can account for potential changes to public policy when conducting environmental CBA. Read More

Articles
Depiction of Meaningful purpose in business
9 minute read

Meaningful purpose in business

What is the purpose of a business? Recent years have seen growing social, political and market pressures on business leaders worldwide to go beyond simply creating short-term value for shareholders. Utilitalia—the federation of Italian water, energy, and municipal waste companies—asked Oxera to explore how a wider purpose can be embedded within an organisation, and how performance could be monitored. Read More

Articles
Depiction of Washing out greenwashing: regulation and investment for a net zero future
7 minute read

Washing out greenwashing: regulation and investment for a net zero future

What is the role of regulation in nurturing new markets for environmental, social and governance (ESG) investment? ESG investing has grown significantly in recent years as investors look for sustainable and ethical opportunities. This has generated issues such as financial ‘greenwashing’, whereby products are mis-sold as being more sustainable… Read More

Articles
Depiction of Decarbon-nudge?
9 minute read

Decarbon-nudge?

Decarbonisation is one of the largest challenges facing societies across the world, and consumer behaviour has an important role to play in achieving this goal. Behavioural economics shows us that consumer behaviour can be influenced by ‘nudges’ and choice architecture. So what role can nudges play in helping us to decarbonise? Read More

Articles
Depiction of High time for hydrogen: establishing a hydrogen value chain in Europe (part 2)
9 minute read

High time for hydrogen: establishing a hydrogen value chain in Europe (part 2)

Across Europe and around the world, hydrogen is gaining traction as a low-carbon energy source with new use cases. In this two-part series, we provide an overview of key strategic developments for hydrogen in the EU and the UK. Our first article introduced the hydrogen value chain and associated upstream issues (i.e. production). Here, we focus on the midstream (i.e. storage and transportation) and downstream (i.e. usage) elements of the value chain. Read More

Articles
Depiction of Economics of Climate Change—how economics can enable the transition to net zero
7 minute read

Economics of Climate Change—how economics can enable the transition to net zero

to finance, slow policy and regulatory coordination, and insufficient adoption of decarbonisation solutions by businesses and consumers. In this article, we reflect on the session chaired by Oxera on the Economics of Climate Change at COP26 on one of the World Leader’s Summit days, to explore how economics can help to remove these barriers, as well as helping to make any net zero transition a fair one. Read More

Articles
Depiction of High time for hydrogen: establishing a hydrogen value chain in Europe (part 1)
7 minute read

High time for hydrogen: establishing a hydrogen value chain in Europe (part 1)

Across Europe and around the world, hydrogen is gaining traction as a low-carbon solution to our energy and transport needs. This is the first of two articles investigating the key strategic developments for hydrogen in the EU and the UK, and identifying the potential regulatory challenges that accommodating a hydrogen transition might entail. In this article, we introduce the hydrogen value chain and examine some upstream production issues. The second article will focus on the midstream (storage and transportation) and downstream (usage) elements of the value chain. Read More

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