https://www.cepii.fr/BLOG/en/theme.asp?idTheme=8https://www.cepii.fr/BLOG/img/blog_logo.pnghttps://www.cepii.fr/BLOG/en/theme.asp?idTheme=8Le Blog du CEPIIcepiiweb@cepii.fr (CEPII)frCEPIICEPIIhttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=1103Mon, 15 Sep 2025 00:00:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=1103https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=1103 Pierre Cotterlaz, Christophe Gouel

]]>The geographical origin of France's imports played a decisive role in the increase of its carbon footprint during the 2000s. This trend is primarily explained by the "China shock" followed by the rise in the economy's openness rate.

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=585Fri, 2 Feb 2018 12:32:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=585https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=585 Cecilia Bellora, Jean Fouré

]]>Despite President Trump’s announcement to withdraw from the Paris Agreement, several States committed to uphold the US objectives of the Agreement within their borders.

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=456Wed, 27 Jan 2016 16:23:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=456https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=456 Virginie Coudert, Valérie Mignon

]]>Dollar changes impact negatively oil prices most of the times, except when the dollar reaches particularly high levels. During these episodes of high dollar values, the relation between both variables turns positive.

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=440Mon, 7 Dec 2015 12:46:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=440https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=440 D.A. Loorbach, R. Lijnis Huffenreuter

]]>Paris 2015 marks the start of a climate change investment boom worth trillions of dollars. This upcoming hype begs the question: can we grow our way out of climate change?

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=439Mon, 7 Dec 2015 12:41:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=439https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=439 Dominique Finon

]]>In theory, uncertainties about the costs of the low carbon policies implemented by each country to meet the emissions quota imposed by the agreement make it unlikely that any credible agreement could be reached or respected, either because countries would be reluctant to commit, or due to opportunistic cheating.

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=438Mon, 7 Dec 2015 12:38:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=438https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=438 Romain Morel, Ian Cochran

]]>A factor that clearly differentiates COP21 and COP15 in Copenhagen is the increasing mobilization of the financial sector. In the past months, financial actors have taken commitments and spoken out on climate-related topics.

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=436Thu, 26 Nov 2015 13:53:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=436https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=436 Christian de Perthuis, Pierre-André Jouvet, Raphaël Trotignon

]]>Because the climate is a common good, economists generally advocate the use of an international carbon price to internalize climate risk, to incorporate as many countries as possible into an agreement and to thwart “free-rider” strategies.

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=435Thu, 26 Nov 2015 13:47:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=435https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=435 Armin Haas

]]>It will be key for the global sustainability transition that the measures taken in the respective sustainability dimensions, i.e. the economic, the ecological, and the social dimension, complement and reinforce each other.

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=433Thu, 12 Nov 2015 10:43:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=433https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=433 Abdeldjellil Bouzidi, Michael Mainelli

]]>Linking public debt to CO2 emissions could give governments a strong incentive to deliver on climate change action.

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=427Mon, 26 Oct 2015 12:18:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=427https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=427 Valérie Mignon, Jean-Pierre Allegret, Cécile Couharde, Tovonony Razafindrabe

]]>It is a widely accepted view that many commodity-exporting countries have commodity currencies, in that movements in real commodity prices can explain fluctuations in their real exchange rates.

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=422Thu, 22 Oct 2015 18:30:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=422https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=422 Michel Aglietta, Etienne Espagne, Vincent Aussilloux, Baptiste Perrissin-Fabert

]]>This year, Europe is confronted with a critical double challenge: addressing the climate change issue and pulling itself out of a persistent low growth trap. Today these two challenges are addressed separately. We propose to make private low-carbon assets eligible for the ECB asset purchase program.

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=425Thu, 22 Oct 2015 18:29:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=425https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=425 Michel Lepetit

]]>Massive financing of the energy transition in schools, hospitals and other public buildings.

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=424Thu, 22 Oct 2015 18:28:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=424https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=424 Matthias Kroll

]]>How central banks can contribute to staying below the 2°C benchmark by purchasing Green Climate Bonds.

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=423Thu, 22 Oct 2015 18:21:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=423https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=423 Ottmar Edenhofer, Jan Christoph Steckel, Michael Jakob

]]>Novel ideas how to spend climate finance in a way that reduces emissions and at the same time promotes recipients’ immediate development objectives are required. In this short commentary, we propose to regard climate finance in the broader context of sustainable development.

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=419Thu, 15 Oct 2015 09:00:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=419https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=419 Jean Pisani-Ferry

]]>Most people hate finance, viewing it as the epitome of irresponsibility and greed. But, even after causing a once-in-a-century recession and unemployment for millions, finance looks indispensable for preventing an even worse catastrophe: climate change.

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=414Thu, 8 Oct 2015 15:34:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=414https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=414 Christian De Perthuis, Pierre-André Jouvet

]]>A mechanism of carbon “bonus-malus” is proposed, where the average emission rate of world countries serves as the anchor: above the threshold, countries should pay a malus, under this level, they would receive a bonus.

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=407Thu, 1 Oct 2015 15:53:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=407https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=407 Dipak Dasgupta

]]>This paper seeks to bring a historical perspective to current global financial architecture issues on the speed and scale of climate finance needed to achieve a safer two degrees world. We look back in history to a similar episode for lessons: the financing and building of railroads in the 19th century.

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=409Thu, 1 Oct 2015 15:53:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=409https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=409 Pierre Monnin

]]>Low interest rates tend to favor ‘green technologies’ competitiveness while also increasing their cost volatility.

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=408Thu, 1 Oct 2015 15:52:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=408https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=408 Colin Hines

]]>An argument in favor of Green infrastructure Quantitative Easing (GIQE).

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=403Tue, 22 Sep 2015 00:00:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=403https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=403 Sam Fankhauser

]]>Three factors hold back low-carbon investment in Europe: the risk/return profile of low-carbon investment projects, regulatory and behavioural features in the financial sector and a more global political economy context. These are key issues to create an investment climate for climate investment.

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=404Tue, 22 Sep 2015 00:00:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=404https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=404 Rens van Tilburg

]]>Financial shocks can originate from ecological imbalances what justifies more careful attention by the financial regulators to this specific risk. A new macroprudential framework is proposed.

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=405Tue, 22 Sep 2015 00:00:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=405https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=405 Alfredo Sirkis

]]>A new UN Climate agreement will probably be signed by the end of this year with some incremental progress but even inveterate optimists like myself don’t believe it will be capable of ‘bridging the gap’ between the maximum that 196 governments can agree upon by consensus...

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=390Fri, 18 Sep 2015 00:00:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=390https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=390 Michel Aglietta, Etienne Espagne

]]>We draw six political economy lessons from the actual dynamics of climate negotiations and their connection to the new macroeconomic normal emerging in the aftermath of the 2008 crisis. A specific proposal follows.

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=391Fri, 18 Sep 2015 00:00:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=391https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=391 M.A.M. Kazemi

]]>The Bangladesh central bank has a long tradition of favouring socially sustainable financing behavior. It was thus natural to extend its mission to the question of climate change mitigation and adaptation investments, both internally and externally in the global financial system.

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=392Fri, 18 Sep 2015 00:00:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=392https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=392 Billy Pizer

]]>Four guide-posts for efficient low-carbon finance are proposed: remove subsidies for high-carbon technologies, improve the cost-effectiveness of low-carbon subsidies, encourage private sector innovation, and maintain transparent public policy tools that support cost-benefit accounting.

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=393Fri, 18 Sep 2015 00:00:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=393https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=393 Jean Pisani-Ferry

]]>As the pace of action looks set to rumble on, countries should seek to make progress on resolving several key issues including the free-rider problem.

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=398Thu, 17 Sep 2015 00:00:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=398https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=398 Etienne Espagne, Baptiste Perrissin Fabert

]]>The aim of this webpage, co-hosted by France Stratégie and CEPII, is to provide a medium for experts and non-experts to discuss the merits and the limits of the various proposals and initiatives in the field of international finance. It is intended to become a forum where the debate on the financial system’s contribution to the energy transition can flourish.

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=381Thu, 28 May 2015 10:17:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=381https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=381 Evelyne Dourille-Feer

]]>Europe was disappointed in the GHG emissions reduction proposal by Japan in the context of the COP 21: -25.4% between 2005 and 2030. Japan could nonetheless help move forward the climate issue by its technologies and original experiences.

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=376Mon, 4 May 2015 14:23:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=376https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=376 Valérie Mignon, Marc Joëts, Tovonony Razafindrabe

]]>Crude oil price volatility is often viewed as reflecting uncertainty not only related to the oil market, but also to the global macroeconomic environment. However, the question arises as to whether uncertainty is not likely to be at play without generating high volatility on the oil market.

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=91Mon, 28 May 2012 00:00:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=91https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=91 Valérie Mignon, Sophie Piton

]]>Commodity markets have recently been at the center of the world economic concerns: their increasing prices and high volatility frighten. A special issue of International Economics focuses on explaining the recent developments on commodity markets.

]]>https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=89Tue, 22 May 2012 00:00:00 GMThttps://www.cepii.fr/BLOG/en/post.asp?IDcommunique=89https://www.cepii.fr/BLOG/en/post.asp?IDcommunique=89 Julien Gourdon, Céline Carrère, Marcelo Olarreaga

]]>The slow progress of regional integration efforts in the Middle East and North Africa (MENA) region could be explained by the reluctance of resource-rich countries to deepen trade agreements which hurt them.

]]>