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Abstract Floods are challenging the resilience of societies all over the world. In many countries there are discussions on diversifying the strategies for flood risk management, which implies some sort of policy change. To understand the possibilities of such change, a thorough understanding of the forces of stability and change of underlying governance arrangements is required. It follows from the path dependency literature that countries which rely strongly on flood infrastructures, as part of flood defense strategies, would be more path dependent. Consequently there is a higher chance to find more incremental change in these countries than in countries that have a more diversified set of strategies. However, comparative and detailed empirical studies that may help scrutinize this assumption are lacking. To address this knowledge gap, this paper investigates how six European countries (Belgium, England, France, The Netherlands, Poland and Sweden) essentially differ with regard to their governance of flood risks. To analyze stability and change, we focus on how countries are responding to certain societal and ecological driving forces (ecological turn; climate change discourses; European policies; and the increasing prevalence of economic rationalizations) that potentially affect the institutional arrangements for flood risk governance. Taking both the variety of flood risk governance in countries and their responses to driving forces into account, we can clarify the conditions of stability or change of flood risk governance arrangements more generally. The analysis shows that the national-level impact of driving forces is strongly influenced by the flood risk governance arrangements in the six countries. Path dependencies are indeed visible in countries with high investments in flood infrastructure accompanied by strongly institutionalized governance arrangements (Poland, the Netherlands) but not only there. Also more diversified countries that are less dependent on flood infrastructure and flood defense only (England) show path dependencies and mostly incremental change. More substantial changes are visible in countries that show moderate diversification of strategies (Belgium, France) or countries that ‘have no strong path yet’ in comprehensive flood risk governance (Sweden). This suggests that policy change can be expected when there is both the internal need and will to change and a barrage of (external) driving forces pushing for change.

Highlights •Biomass resource constraints impact the effectiveness of bioeconomy policies. •Bioeconomy policies may have an important impact on the sector structure in the long run, but the sector growth remains ultimately constrained by the availability of inputs. •Solutions to reduce the biomass constraint have to be included in innovation policy for the biobased economy.

This paper reviews and compares 11 studies that have estimated external costs of fossil electricity generation by benefits transfer. These studies include 13 countries and most of these countries are developing countries. The impact pathway approach is applied to estimate the environmental impact arising from fossil fuel-fired power plant’s air emission and the related damages on human health. The estimated damages are used to value the monetary external costs from fossil fuel electricity generation. The estimated external costs in the 13 countries vary from 0.51 to 213.5 USD (2005) per MW h due to differences in fossil fuel quality, location, technology, and efficiency of power plants and additionally differences in assumptions, monetization values, and impact estimations. Accounting for these externalities can indicate the actual costs of fossil energy. The results can be applied by policy makers to take measures to avoid additional costs and to apply newer and cleaner energy sources. The described methods in the selected studies for estimating the external costs with respect to incomplete local data can be applied as a useful example for other developing countries.

Nature-based solutions (NBS) are widely regarded as cost-effective responses to climate change and environmental degradation that also provide numerous co-benefits. However, despite significant policy attention, NBS plans often fail to materialize due to public budget shortfalls. Alongside traditional public finance, the international debate increasingly urges the mobilization of private capital for NBS through alternative financing (AF) techniques. In this scoping review, we examine the literature on a) the AF models connected to NBS and b) the drivers and barriers associated with these AF models in terms of their financial technicity and their embeddedness in the political, economic, social, technological, legal/institutional, and environmental/spatial ("PESTLE") context. Although many models are discussed, the results indicate that none can be considered full substitutes for traditional public finance. Barriers and drivers converge around seven overarching tensions: new revenue and risk distribution vs. uncertainty, budgetary and legal pressure vs. political willingness and risk aversion, market demand vs. market failures, private sector engagement vs. social acceptance and risks, legal and institutional conduciveness vs. inertia, and upscaling potential vs. environmental risks and land use. Future research should focus on a) how to further integrate NBS monitoring, quantification, valuation, and monetization into AF models, b) systemic and empirical approaches to improve the understanding of the applicability and transferability of AF models, and c) an exploration of the potential qualities and social risks of AF models in NBS governance arrangements.

It is often argued that compared to a carbon tax, a volatile carbon price under an emissions trading system poses a problem in the transition towards a low carbon economy. However, this paper shows that, when sufficiently positively correlated with the electricity price, carbon price uncertainty diminishes overall volatility because of a diversification effect. To get this result, we develop a dynamic real options model to analyze the impact of positively correlated price uncertainty on the timing of an investment decision. In contrast to static models, we show that even when the carbon price is initially the same under both policy instruments, the timing of the investment decision will typically be different. More importantly, we find that multiple correlated price uncertainties under an emissions trading system encourages investment more than less uncertainty under a carbon tax. Hence, to stimulate a low carbon (or discourage a carbon intensive) investment, an emissions trading system (carbon tax) is preferred. The policy reverts for higher levels of uncertainty and low correlations.

Large seaport hubs in Northwestern Europe are aiming to develop as circular hotspots and are striving to become first movers in the circular economy (CE) transition. In order to facilitate their transition, it is therefore relevant to unravel potential patterns of the circular transition that ports are currently undertaking. In this paper, we explore the CE patterns of five Belgian seaports. Based on recent (strategy) documents from port authorities and on in-depth interviews with local port executives, the circular initiatives of these ports are mapped, based on their spatial characteristics and transition focus. The set of initiatives per port indicates its maturity level in terms of transition towards a circular approach. For most studied seaports, an energy recovery focus based on industrial symbiosis initiatives seems to dominate the first stages in the transition process. Most initiatives are not (yet) financially sustainable, and there is a lack of information on potential new business models that ports can adopt in view of a sustainable transition. The analysis of CE patterns in this paper contributes to how ports lift themselves out of the linear lock-in, as it demonstrates that ports may walk a different path and at a diverging speed in their CE transition, but also that the Belgian ports so far have focused too little on their cargo orchestrating role in that change process. Moreover, it offers a first insight into how integrated and sustainable the ports’ CE initiatives currently are.

Abstract The concept of a backstop level of electricity intensity 1 is introduced and illustrated for the highest income economies of the world. The backstop level corresponds with the intensity that would be triggered by applying end-use electricity prices equal to the cost price of a fully sustainable electricity supply. Section 1 of the paper discusses the issue of electricity (also energy) intensity of economies. It is argued that identifying a “demand for electricity intensity” bridges the gap between the high willingness to pay for electricity services on the one hand and the disinterested attitude of consumers regarding the invisible and impalpable product electricity on the other hand. Assessment of the demand curve for electricity intensity in a cross section of high income OECD countries comes to a long-run price elasticity of almost −1. Section 2 revives Nordhaus’ concept of backstop supply technologies for weighing three power sources (fossil, nuclear, and renewable sources) in meeting today's criteria of sustainable backstop technology. Only renewable sources meet the main sustainability criteria, but the economic cost of a fully sustainable electricity supply will be elevated. The closing question of Section 3, that is, whether the countries can afford the high cost of backstop electricity supplies, is answered by indicating what reductions in intensity are required to keep the electricity bills stable. The targeted intensity level is called the backstop level, and provides a fixed point for electricity efficiency policies. The analysis supports the call for comprehensive and enduring tax reform policies.

The purpose of this study is to determine if aquaponic systems can reduce food insecurity in the semi-arid regions of Brazil and generate income for the beneficiaries. Aquaponics is a potentially sustainable way to produce food based on gardening, hydroponics and aquaculture. A case study, based on a project called Aquaponova, was developed. The aquaponic systems currently used in the project are non-commercial and designed for households with limited resources. The data based on six existing systems within this project were used to compare the costs and the benefits. The cost–benefit analysis covers four scenarios and three financing options. The results show that aquaponic systems have a large potential and can reduce food insecurity in semi-arid regions while generating income for the beneficiaries. Even if the system only produces 40% of the total estimated production, the system will still be feasible. However, the low opportunity cost of labour is an essential factor for obtaining these positive results. Moreover, the social benefits, such as a community spirit and the health benefits of the system, should not be underestimated.