Regulatory Mix Research Articles

Crypto has an emissions challenge: Here’s what leaders can do about it

Reaching a market capitalization of more than $3 trillion last year and today remaining well over the $1 trillion mark, investor interest in cryptocurrency continues to soar. Yet with bitcoin alone estimated to use up to 120.9 terawatt-hours of electricity annually — more than that used by Portugal in a year – so too is interested in crypto’s carbon footprint. The question for governments is how best to help decouple crypto from carbon. This paper argues for a tiered package of incentives and regulations to maximize the use of clean energy and promote energy efficiency in crypto-mining operations. Specifically, policymakers must: (1) support efficiency innovation by incentivizing miners to switch to less energy-intensive designs while addressing issues related to software and hardware upgrades, including better e-waste management, and (2) incentivize clean-energy use while tackling the challenges arising from the intermittency of renewables, grid strain and other the negative side effects of crypto-mining, and the challenges around auditing. While carbon offsets are increasingly popular within the crypto sector, policymakers should be wary as offsets do not address the root causes of carbon pollution. Offsets should only be used as a last resort. Outright bans on crypto mining have unintended consequences. On the other hand, a laissez-faire approach would clearly exacerbate the climate crisis. As crypto attracts more interest, a pragmatic way forward is to balance its risks and opportunities by adopting the right mix of regulations and incentives. In so doing, governments can ensure crypto mining does not undermine international climate goals.

Determinants of environmental innovations supporting small‐ and medium‐sized enterprises sustainable development

AbstractEnterprises are increasingly required to improve their environmental performances. The adoption of environmental innovations (EIs) is believed a way to achieve this goal. So a flourishing debate about the determinants supporting investment in EIs arose. Researchers have thus far paid attention mainly to established manufacturing firms operating in traditional sectors. Hence, scientific literature recommends deepening the behavior of small‐ and medium‐sized enterprises (SMEs) because of the role they play in the productive systems in many Western countries. With this in mind, this study investigates a probabilistic sample of 222 innovative SMEs using the partial least squares and importance–performance map analysis in order to identify the factors affecting their propensity to invest in EIs. Findings show that the propensity results are affected by the firms' environmental awareness, company staff, and capabilities, among the internal factors, whereas among the external ones, the propensity is affected by norms and regulations. An important role is also played by the hope to improve their economic and environmental performances. Monetary and fiscal incentives reveal not to be significant. Consequently, policies should firstly propose an appropriate mix of regulations and stimuli following two directions: a compliance direction to more stringent regulations and rules to be followed through the imposition of penalties and a cultural direction aiming at improving environmental awareness of SMEs about the desirability of pursuing EIs for both ethical and economic reasons, given the potential benefits associated with such innovations.

Impacts of household loan regulation on financial stability: evidence from Korea

The paper examines whether banking regulations and monetary policy contributed to controlling the fragility of household debt in Korea. The results show that housing loan regulations such as debt to income regulation contributed to a lower household debt delinquency ratio. Lowering the target interest rate provided additional stabilisation of the delinquency ratio. It is recommended that the government adopt an appropriate mix of regulation and monetary policy to control household financial fragility. The financial supervisory services need to be involved in managing debt to income regulation and minimising financial instability and financial market distortions. Further, the monetary authority has to adopt a more effective position in controlling the real lending interest rate and the delinquency ratio of household loans. Such a policy mix will improve effectiveness in controlling financial fragility, especially at a time of financial crisis.

The environment: the road ahead

Based on a paper given at the Environment North Seas Conference in Stavanger, August 1991, this paper examines the future for the environment. It begins by examining progress to date, e.g. control of chlorofluorocarbons, Sustainable Development is identified as the basis for the future, and must be turned from theory to practice. Through a mix of regulation and market led factors, industry will have to adapt to survive. In particular, a financial cost must be placed on activities that, for example, harm the atmosphere if Sustainable Development is to succeed.

Eutanasia di un'istituzione. Il cortocircuito riforme/valutazione sulla crisi dell'università

The essay analyses the mix of regulations, major and minor reforms, developed by multicolor policies to evaluate the university system, or to use the modern rhetoric, to reform it. In observing the compulsive reforming, certain standard characteristics are revealed in the creation of the regulations. Such as: the syndrome of «the new», the «lightness» of intervention on the universities when the echoes of the previous regulations had not yet gone silent; the lack of effort to make the reforms inter-operational. The consequence of this is that the emotional factor multiplies, positions are radicalized, and a symbolic picture of continuous emergency is created. Notwithstanding this, universities have not obstructed this evaluation. It is to be noted that the positive outcome of this process works only when there is a strong investment in autonomy, but of which the policies and the more extreme supporters of a mystic of evaluation show no convincing trace. This compromises the hope that the evaluation will spearhead a cultural development of the entire system.

Mixing it Up: Power Sector Energy and Regional and Regulatory Climate Policies in the Presence of a Carbon Tax

A carbon tax will interact with other policies that are intended to reduce carbon dioxide emissions and encourage clean sources of energy and energy efficiency. This paper examines these policy interactions. A well-designed carbon tax can be an efficient instrument for reducing emissions, yet whether it will be implemented in an efficient manner is uncertain. A legislatively determined tax may not fully reflect up-to-date scientific and economic information. Behavioral and institutional factors suggest that a tax may not have its fully intended effect. These considerations suggest that climate policy should and will continue to be a complex mix of regulations at various levels of government, even with a carbon price. Nonetheless, the possibility of unintended interactions among policies remains. The role for policies to encourage renewables and energy efficiency depends on the stringency of the carbon tax and presence of externalities related to technological learning and the energy efficiency gap.

Coping with Crisis Risk in European Agriculture

Coping with Crisis Risk in European AgricultureThis article summarizes the major findings of an international workshop on coping with crisis risk in European agriculture. The workshop took place as part of an EU sixth framework project entitled: Income stabilisation: Design and economic impact of risk management tools for European agriculture. The meeting focused on ex ante crisis risk, which is defined as a foreseeable and predictable risk that potentially hits many farms at the same time. More specifically, the workshop focused on technology risks ‐ such as food safety and livestock epidemic risks ‐ and weather risks. State of the art discussions pointed towards little attention being paid to crisis risk management in EU agriculture and the incompleteness of risk management instruments available. Proposed solutions, although not entirely agreed upon by all workshop participants, envision some form of public–private partnership. For technology risks, which are rather‘manageable’ by individual farmers, partnerships are recommended to be a mix of regulation, risk mitigation and non‐subsidised market instruments with a clear focus on incentives for risk prevention. For weather risks, these partnerships include financial aspects whereby governments offer free cover for the catastrophic part of losses. The Income Stabilisation project will integrate workshop recommendations with wider research project activities and will eventually advise on prospective risk management instruments for various farm types and regions throughout the European Union.

Continuing professional development for veterinarians

Continuing professional development for veterinarians is expected to commence in the year after graduation and continue until retirement. The World Organisation for Animal Health standard for veterinary services is based on principles of an ethical, organisational and technical nature, and a mix of regulation, self-regulation and quality assurance approaches are used. Few jurisdictions have made a minimum requirement of continuing professional development, measured in hours or units, mandatory in 2004, however, there is an increasing expectation of veterinarians to keep a personal record of their continuing professional development activities. Such records might assist in defending complaints about professional misconduct, and provide a basis for planning and monitoring personal professional growth. Continuing professional development can be obtained by a variety of means through structured and unstructured learning activities. The rapid advances in communication technologies and ready access to available electronic databases at the beginning of the 21st century is rapidly changing the way students learn in veterinary schools and how they will acquire continuing professional development during their careers. Universities, governments, professional associations and special interest groups all have roles to play in the delivery of continuing professional development to the veterinary profession and to ensure a structure is in place to monitor improvements in the delivery of quality veterinary services.