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The IPCC stresses the importance of achieving net-zero CO2 emissions worldwide by 2050 and natural climate solutions, particularly carbon farming, can play a significant role in this goal. However, current markets do not account for environmental externalities, which creates a mismatch between individual costs and societal benefits. Payment systems linked to carbon farming practices could help bridge this gap. Research is essential to develop effective agricultural carbon markets, and this study focuses on the opportunities and challenges faced by smallholder farmers in these markets. The research examines four areas: agricultural markets as a funding source for carbon farming, payments for carbon sequestration, opportunities for smallholder farmers, and cost-effective monitoring and verification of carbon stocks. Further research is needed to monitor carbon sequestration accurately, reduce GHG emissions, and develop institutional arrangements to promote sustainable production methods in Africa.

The IPCC stresses the importance of achieving net-zero CO2 emissions worldwide by 2050 and natural climate solutions, particularly carbon farming, can play a significant role in this goal. However, current markets do not account for environmental externalities, which creates a mismatch between individual costs and societal benefits. Payment systems linked to carbon farming practices could help bridge this gap. Research is essential to develop effective agricultural carbon markets, and this study focuses on the opportunities and challenges faced by smallholder farmers in these markets. The research examines four areas: agricultural markets as a funding source for carbon farming, payments for carbon sequestration, opportunities for smallholder farmers, and cost-effective monitoring and verification of carbon stocks. Further research is needed to monitor carbon sequestration accurately, reduce GHG emissions, and develop institutional arrangements to promote sustainable production methods in Africa.

Climate change and urbanization have been identified as major challenges that will have an increasingly significant impact on the well-being of children in coming decades, particularly on the poorest and most vulnerable children (UNICEF 2016). This is nowhere more so than in Uganda, which is already frequently affected by droughts and where the rate of urbanization is high. Uganda has made great strides in reducing poverty in recent decades. However, child poverty remains high with more than 50 per cent of children aged under five living in poverty. Children represent more than half of the population and, as such, the country’s vision of becoming a middle-income country by 2040 remains highly contingent on government’s ability to safeguard the rights of its children.

Climate change and urbanization have been identified as major challenges that will have an increasingly significant impact on the well-being of children in coming decades, particularly on the poorest and most vulnerable children (UNICEF 2016). This is nowhere more so than in Uganda, which is already frequently affected by droughts and where the rate of urbanization is high. Uganda has made great strides in reducing poverty in recent decades. However, child poverty remains high with more than 50 per cent of children aged under five living in poverty. Children represent more than half of the population and, as such, the country’s vision of becoming a middle-income country by 2040 remains highly contingent on government’s ability to safeguard the rights of its children.

In the last two decades, studies that analyse the political economy of sustainable energy transitions have increasingly become available. Yet very few attempts have been made to synthesize the factors discussed in the growing literature. This paper reviews the extant empirical literature on the political economy of sustainable energy transitions. Using a well-defined search strategy, a total of 36 empirical contributions covering the period 2008 to 2022 are reviewed full text. Overall, the findings highlight the role of vested interest, advocacy coalitions and green constituencies, path dependency, external shocks, policy and institutional environment, political institutions and fossil fuel resource endowments as major political economy factors influencing sustainable energy transitions across both high income countries, and low and middle income countries. In addition, the paper highlights and discusses some critical knowledge gaps in the existing literature and provides suggestions for a future research agenda. IZNE Working Paper Series; Nr. 23/3

In the last two decades, studies that analyse the political economy of sustainable energy transitions have increasingly become available. Yet very few attempts have been made to synthesize the factors discussed in the growing literature. This paper reviews the extant empirical literature on the political economy of sustainable energy transitions. Using a well-defined search strategy, a total of 36 empirical contributions covering the period 2008 to 2022 are reviewed full text. Overall, the findings highlight the role of vested interest, advocacy coalitions and green constituencies, path dependency, external shocks, policy and institutional environment, political institutions and fossil fuel resource endowments as major political economy factors influencing sustainable energy transitions across both high income countries, and low and middle income countries. In addition, the paper highlights and discusses some critical knowledge gaps in the existing literature and provides suggestions for a future research agenda. IZNE Working Paper Series; Nr. 23/3

Financial markets play a vital role in the allocation of the world’s resources. Yet financial markets are also prone to booms and busts as financial intermediaries imperfectly respond to the world around them. This thesis examines the role of financial markets in the context of climate change. It examines how financial markets are slowly, though imperfectly, moving towards addressing one of the greatest economic and scientific challenges of our century. I examine in-depth a number of areas where financial markets are operating effectively to address the challenges of climate change. I also identify those areas where market failures signal the need for further government intervention. This thesis proceeds in four substantive chapters. My approach is empirical and employs both quantitative and qualitative techniques. I first address financial market theory on the role of information in efficient market operation (Chapter 3). I then examine behaviourally how financial markets are integrating new climate-related information in investment decisions (Chapter 4). This thesis then examines the two financial markets in depth. The first is an empirical examination of how carbon markets have influenced publicly listed markets in energy stocks within Europe (Chapter 5). The second is an empirical examination of direct investment (venture capital and private equity) in clean technologies in Europe and North America (Chapter 6). Four findings emerge from this thesis: Firstly, financial market reform must begin with greater information disclosure to the market on the physical and carbon-related risks facing corporations and the community. Secondly, large asset owners (such as pension funds) should demand greater integration of long-term systemic risk considerations in their asset allocation decisions if they are to adequately respond to climate change. Thirdly, market structure appears to materially influence the operation of a carbon price signal within an energy market. This indicates further empirical research is needed by governments to examine whether carbon markets achieve their intended aims. Fourthly, the flow of direct investment (private equity) in emerging clean technologies is highly contingent on geography. The size and direction of capital flows is influenced by regulation, capital market structures, and physical environmental variables. Government must bear this in mind when formulating appropriate technology and industry policy to spur clean technology investment.

Financial markets play a vital role in the allocation of the world’s resources. Yet financial markets are also prone to booms and busts as financial intermediaries imperfectly respond to the world around them. This thesis examines the role of financial markets in the context of climate change. It examines how financial markets are slowly, though imperfectly, moving towards addressing one of the greatest economic and scientific challenges of our century. I examine in-depth a number of areas where financial markets are operating effectively to address the challenges of climate change. I also identify those areas where market failures signal the need for further government intervention. This thesis proceeds in four substantive chapters. My approach is empirical and employs both quantitative and qualitative techniques. I first address financial market theory on the role of information in efficient market operation (Chapter 3). I then examine behaviourally how financial markets are integrating new climate-related information in investment decisions (Chapter 4). This thesis then examines the two financial markets in depth. The first is an empirical examination of how carbon markets have influenced publicly listed markets in energy stocks within Europe (Chapter 5). The second is an empirical examination of direct investment (venture capital and private equity) in clean technologies in Europe and North America (Chapter 6). Four findings emerge from this thesis: Firstly, financial market reform must begin with greater information disclosure to the market on the physical and carbon-related risks facing corporations and the community. Secondly, large asset owners (such as pension funds) should demand greater integration of long-term systemic risk considerations in their asset allocation decisions if they are to adequately respond to climate change. Thirdly, market structure appears to materially influence the operation of a carbon price signal within an energy market. This indicates further empirical research is needed by governments to examine whether carbon markets achieve their intended aims. Fourthly, the flow of direct investment (private equity) in emerging clean technologies is highly contingent on geography. The size and direction of capital flows is influenced by regulation, capital market structures, and physical environmental variables. Government must bear this in mind when formulating appropriate technology and industry policy to spur clean technology investment.

In light of the escalating economic influence of Small and Medium-sized Enterprises (SMEs), the intricate interplay of sustainability, innovation, and export performance assumes paramount significance. This study focuses on French SMEs in the Auvergne-Rhône-Alpes (ARA) region, exploring the relatively uncharted territory of a synergistic approach to sustainability and innovation. Through a 2022-2023 field survey of 290 SMEs, employing Ordinary Least Squares (OLS) and Two-Stage Least Squares (2SLS) regression models, the research investigates the potential enhancement of export performance through this synergistic approach. The study reveals a positive impact, emphasizing the significance of sustainability certifications (EUR 24,416 additional export turnover per certification), R&D investment (EUR 1.38 boost per euro invested), and environmental patents (EUR 64,439 per patent). Qualitative insights enrich the understanding of challenges and opportunities, especially in terms of environmental footprint reduction. The findings underscore the need for prioritizing sustainability and innovation by French SMEs to thrive in export markets, with implications for policymakers in designing initiatives. In conclusion, this research offers a comprehensive framework for understanding the dynamics between sustainability, innovation, and export performance, providing practical guidance for SMEs and a methodological foundation for future regional research.