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This article seeks to examine accountants' perceptions of carbon taxes in addressing climate change. Specifically, it aims at (i) a better understanding of accountants opinions on carbon taxes; (ii) how energy companies have adapted their business operations since introducing carbon tax. The article's primary sources of data are (1) a 2018 survey distributed to 45 accounting professionals in Scotland, which specialise in energy finance and a formal interview with a regional finance director of a multinational energy company. The results show how the accountants are in favour the carbon tax due to its positive environmental impact, however, do not agree with the associated rising utility costs. Though, carbon tax, from an energy business' perspective, is viewed negatively due to its effects on the end users of energy. This study contributes to the current research by demonstrating the role of accounting society in boosting public awareness of climate change. The findings of this study will help regulators and policy makers in the UK to evaluate the adequacy of current carbon tax reforms and to promote the public awareness of climate change to reduce carbon emissions.

Abstract This article analyzes the CFTC's Disaggregated Commitments of Traders (DCOT) Report to get more insights into the behavior of different traders during the 2008 oil bubble. The analysis shows that: (1) the Money Manager category perfectly played the oil bubble, got in early and started selling shortly before the bubble peak; (2) the Producer/Merchant/Processor/User category and the Nonreportable category were covering their short positions into the peak of the bubble; (3) the Swap/Dealer category benefited while the price of oil was rising, but incurred heavy losses as the price of oil collapsed; (4) we find no indications of speculation by any group of traders via the positive feedback trading or rational destabilization; and (5) we do, however, criticize the commercial hedgers for failing to arbitrage the soaring oil prices in 2008.

Abstract Trinidad and Tobago is an energy rich country that has been using energy with low efficiency and low socio-economic benefit. Recently, the focus of the government has changed to emphasize energy efficiency, conservation and management in its energy policies. This paper reviews the energy consumption patterns of Trinidad and Tobago, as well as its new policy focus on energy efficiency.

Abstract When the institutions governing transactions in the energy sector changed in Canada thirty years ago, the changes were heralded as pro-competitive for natural gas markets, and subsequently authorities and some stakeholders have suggested that households would benefit from gas commodity marketer entry. Using an analysis of the institutions together with a model of the cost pass-through regulatory process, I show that households as a group would not benefit from purchasing the gas commodity from unregulated commodity marketers rather than buying it bundled with delivery from the regulated utility. I next use monthly price data collected from the public web pages of these unregulated sellers to confirm the theoretical prediction. Depending on the time period, five-year natural gas contract commodity prices average more than 75% higher than the utility's regulated cost of gas. On average over the sample period, signing up meant paying over C$400 more for the gas commodity annually. The analysis suggests that claims about the effects of policy change should be informed by a careful assessment of the specific institutional arrangements and the new incentives created by institutional evolution.

Abstract This paper explores the results and implications of an illustrative application of a sustainability assessment framework in the design and evaluation of a major integrated power system plan. The paper examines the integrated power system plan developed by the Ontario Power Authority in 2007. The basic framework rests on a generic set of evaluation criteria reflecting basic requirements for progress towards sustainability that was adopted, reinterpreted and applied by the Authority in support of its proposed plan. In response to evident deficiencies in the Authority’s work, the authors and colleagues undertook a re-examination using a more fully elaborated sustainability assessment framework, specified for application to power system planning. The results point to a plan and plan components substantially different from those proposed by the Authority. More generally, the results highlight three advantages of applying such a sustainability assessment framework: comprehensive coverage of key requirements for progress towards sustainability while ensuring careful attention to the context and concerns of the sector; emphasis on identifying plan options that avoid major trade-offs among the sustainability criteria and recognition of interactions among the social, ecological, economic and technological realms favouring options that offer multiple, mutually reinforcing and lasting benefits.

Abstract Effective low carbon transport policy-making needs to first understand what are the factors influencing residents’ modal choice and how it can be intervened. This study uses a discrete choice model to analyse the factors influencing residents’ mode choice in Beijing. A questionnaire survey was conducted in 2015, with sample data containing 865 respondents and 1704 trips collected. The results suggest that residents’ mode choice is closely related to their characteristics. Moreover, our study has linked residents’ mode choice with travel carbon emissions and estimated the emissions reduction potential of those policy measures aiming to improve public transport. For commuting and education trips, public transport improvements can reduce carbon emissions by 12.3~16.6% on average, but for other trip purposes, the reduction is only 2.9~6.8%. As commuting and education trips account for the largest proportion of urban residents’ daily travels, it suggests that policy should primarily focus on the improvement of public transport and its particular support for major commuting routes.

Saskatchewan, a Canadian prairie province, has recently begun to restructure the provincial energy system. The institutional, technological and social bases of the Saskatchewan power regime have been disrupted by both exogenous pressures and endogenous problems, providing an opportunity for alternative energy options to be considered as possible power alternatives. As the province addresses the long-term socio-technical transition (STR) associated with a regime change in the power sector a number of alternative energy options have been identified. Using a transition management approach, this paper argues that the path taken will depend very much on whether these alternatives can be adopted as modifications of the existing STR – leaving the key actors, institutions and relationships essentially untouched – or whether they will necessitate a wholesale reconstruction of the regime itself. In this paper we analyze how, over time, the socio-technical configurations of the energy system became very durable as existing technologies become embedded in regulatory frameworks, infrastructure, users practices and expert communities. We then consider the potential of several alternative technological trajectories and the likelihood of one of these socio technical regimes emerging in Saskatchewan.

This paper investigates how risks are anticipated in national bioenergy policies and in which way related expectations that harms can be prevented or mitigated have actually been met. The paper draws on the national biofuel policies of ten countries and the EU, selected to represent a diverse sample of regions, producers and consumers, and pioneers and latecomers. It proceeds in two steps: firstly, it identifies three risk categories most frequently mentioned across the investigated national policies. Secondly, it conducts a systematic review of available empirical research about biofuels’ effects in these risk categories. Findings are discussed regarding the empirical conditions under which related expectations to do no harm have materialized or failed; and concerning the challenges of risks perception and management in actual policies. We observe issues of crop selection and inadequate sectoral governance of biofuels, but also challenges of large-scale modes of intensive production. Effective risk mitigation was often the result of risk adverse choices by contract farmers engaged in biofuels production. National policy documents have insufficiently conceptualized ‘do no harm’ concepts and strategies in place to address these performance issues; while remaining silent on the particular risk governance and accountability framework that keeps track of actual developments, commitments and responsibilities.

Abstract Energy can be a confusing issue to the general public, policymakers, and politicians. Adding energy security to the lexicon has not provided any clarification. To assist in explaining some of the concepts associated with energy security and to show how an individual or organization can improve energy security, this paper introduces the “four ‘R's of energy security”: review (understanding the problem), reduce (using less energy), replace (shifting to secure sources), and restrict (limiting new demand to secure sources).