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Sustainable Ocean Economy, Innovation, and Growth: A G20 Initiative for the 7th Largest Economy in the World

The authors of this G20 Insights policy brief say that the G20 should initiate a global ocean governance process, and they call for ocean economy dialogues, strategies, and regional cooperation to ensure that investment and growth in ocean use become sustainable and reach their full potential. They note that the ocean is the largest and most critical ecosystem on Earth, with many interactions between the ocean Sustainable Development Goal (SDG14) and other SDGs. Though potentially the largest provider of food, materials, energy, and ecosystem services, the ocean is stressed by increasing demand for resources, technological advances, overfishing, climate change, pollution, biodiversity, and habitat loss. Moreover, inadequate stewardship and law enforcement are contributing to the ocean’s decline. As a standing agenda item for the G20, and with associated good governance, a sustainable ocean economy can improve the health and productivity of ocean ecosystems. Better governance, appreciation of the economic value of the ocean, and “blue economy” strategies can reduce conflicts among uses; ensure financial sustainability, ecosystem integrity, and prosperity; and promote long-term national growth and employment in maritime industries.

Authors: Martin Visbeck, Kristian Teleki, Mia Pantzer, Michael K. Orbach, Patrick ten Brink, John Virdin, Julian Rochette, Anna-Kathrina Hornidge, Andrew Farmer, Daniela Russi, Torsten Thiele, Rajni Bakshi, Rajiv Bhatia, Benjamin Boteler, Miguel Heredia, R. Andreas Kraemer, Ina Krüger, Grit Martinez, Akshay Mathur, Linwood Pendleton, Tiago Pitta e Cunha, Cyrus Rustomjee, and Scott Vaughan

Filters

Blue Economy

Ocean and Coastal Policy

Policy Briefs

On Morals, Markets, and Climate Change: Exploring Pope Francis’ Challenge

This article in Law and Contemporary Problems explores the contrast between the movement toward environmental markets, characterized by the emergence of new carbon markets across the globe, and the renewed opposition to markets manifested in the pope’s encyclical and the views of some environmental advocates. It considers the arguments raised by these latter critics, explores alternative views of their concerns, and examines how market-based climate policies could be designed to alleviate these concerns. Others have examined the moral and ethical dimensions of market-based climate policies, but this article contributes to the literature by providing a contemporary examination of the papal encyclical’s prominent questioning of the use of markets to address climate change. It also speaks to issues that more than 190 countries now face under the Paris Agreement and that forty-eight U.S. states face under the Clean Power Plan as they decide what role, if any, market-based instruments will play in their pursuit of the greenhouse gas reductions. And it explores options for designing a market-based instrument to address climate change in ways that could ease some of the moral criticisms, and discusses some of the tradeoffs involved in those design choices. Part 2 reviews how market-based mechanisms are being designed for climate change policy. Part 3 examines the pope’s encyclical and the moral issues it raises regarding carbon markets. Part 4 assesses in more detail the moral objections to using market-based mechanisms for climate change policy and offers counterpoints to these arguments. Part 5 discusses possible ways to reconcile these viewpoints by designing market-based climate policies in ways that resolve or reduce the critics’ concerns and discusses the tradeoffs associated with each approach. Part 6 offers specific insights into the decisions faced and tradeoffs presented by market-based climate policies.

Authors: Jonas J. Monast, Brian C. Murray, and Jonathan B. Wiener

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Climate and Energy

Clean Air Act

Environmental Economics

Journal Articles

A State Policymaker’s Guide to Power Sector Modeling

In a new report, the Bipartisan Policy Center and Nicholas Institute for Environmental Policy Solutions explore the value, use, and limitations of economic modeling of the electricity sector. The report presents a suite of recent analyses by different organizations, showing how economic modeling can be used to simulate possible policy, market, and technology changes as the electricity sector transforms due to growth of domestic natural gas, increased use for electric generation, the rapid progress of renewable technologies, and environmental regulations.

It is meant to be a guide for state policymakers who have both the benefit and challenge of unpacking modeling results and figuring out how best to learn from diverse findings. It provides them with both an understanding of how to best utilize economic models and interpret their results as well as explores key modeling structures often being deployed to model carbon regulations such as the Clean Power Plan and input assumptions that impact power sector modeling results.

Authors: Blair Beasley, David Hoppock, Jennifer Macedonia, Martin Ross, and Tracy Terry

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Climate and Energy

Clean Air Act

Environmental Economics

State Policy

Reports

Blue Carbon Financing of Mangrove Conservation in the Abidijan Convention Region: A Feasibility Study

Coastal vegetated ecosystems such as mangrove forests, seagrass meadows, and salt marshes have long benefited coastal communities and fisheries, and in recent years have been recognized internationally for their significant capacity to sequester and store carbon (“blue carbon”)—at rates that surpass those of tropical forests. Yet these ecosystems are being converted rapidly. Current annual mangrove deforestation has been estimated to emit 240 million tons of carbon dioxide. For this reason, financing mechanisms to pay those tropical countries that have significant blue carbon resources to reduce greenhouse gas (GHG) emissions from deforestation have been explored as a means to fund mangrove conservation. This report by the United Nations Environment Programme, the Abidjan Convention Secretariat, and GRID-Arendal explores the potential of international carbon finance mechanisms to help fund mangrove conservation along the coast of West, Central, and Southern Africa that is covered by the Abidjan Convention—from the southern border of Mauritania to the northern border of Angola—and the scale of economic benefits that this conservation might provide for communities and countries in the region, including benefits not always recognized in traditional assessments or valuations. This report aims to increase knowledge about blue carbon stocks in West, Central, and Southern Africa and the steps that interested communities and countries in the region could take to secure international payments for their conservation and avoided GHG emissions.

Authors: John Virdin, Tibor Vegh, Connie Y. Kot, Jesse Cleary, Patrick N. Halpin, Christopher Gordon, Marie-Christine Cormier-Salem, and Adelina Mensah

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Blue Carbon

Blue Economy

Climate and Energy

Ocean and Coastal Policy

Environmental Economics

Reports

Use of Preservation in North Carolina Wetland and Stream Mitigation

To better protect the nation’s wetlands and streams, the Clean Water Act allows use of compensatory mitigation to replace the benefits of lost wetlands and streams. This study summarizes North Carolina’s use of preservation for compensatory mitigation by private mitigation banks and a state-operated in-lieu fee (ILF) program. Within private mitigation banks, preservation activities have generated 5.6% of wetland credits and 9.1% of stream credits since 2008. Within the state in-lieu fee program run by the Division of Mitigation Services, 45.0% of wetland credits and 6.2% of stream credits have resulted from preservation. However, a majority of the wetland credits generated by preservation in the ILF program came from one site described as unusually large by program staff. Since 2008, North Carolina’s ILF program and mitigation banks have continued to use preservation at relatively low rates for both wetland and stream mitigation. Mitigation providers have stated that the clarity of the state’s preservation policy makes it easier for preservation to be included in projects in North Carolina than in projects in some other states. Notably, between 2012 and 2015, no wetland preservation was used for mitigation by the ILF program.

Authors: Ben Young, Lydia Olander, and Amy Pickle

Filters

Ecosystem Services

Working Papers

Integrating Large-Scale Planning into Environmental Markets and Related Programs: Status and Trends

Building on earlier efforts, guidance from the federal government on mitigation for environmental impacts recommends the use of large-scale plans, preferably carried out in advance of impacts, to steer both development and mitigation. The idea is that advanced planning can improve site selection for proposed projects and increase the return on investment for mitigation while helping to provide greater predictability for project proponents, increase the efficiencies of project review, reduce permitting times, and support better environmental results. This paper explores progress in integrating large-scale, spatially explicit planning into environmental markets and programs in the United States. Through interviews with experts and review of the gray literature and government documents, it identifies examples of large-scale planning in these programs. It describes how the planning is guiding decisions about impact avoidance and compensatory mitigation, whether the planning is required or optional, and if the planning incorporates co-benefits or other regulatory-driven priorities. The assessed programs cover wetlands and streams, at-risk species, water quality, stormwater, greenhouse gases, and natural resource damages. They range from somewhat centrally planned programs in which spatially explicit planning is more common to distributed, market-based approaches in which such planning is less common. Large-scale planning appears to face few barriers to development and use, but its uptake may be limited by other factors like cost and time, uncertainty in the required spatial models, or insufficient proof of value. There has been little study of such planning’s investment return, environmental outcomes, or permitting time. 

Authors: Lydia P. Olander and Ben L. Young

Filters

Ecosystem Services

Working Papers

Unconventional Oil and Gas Spills: Risks, Mitigation Priorities and States Reporting Requirements

An analysis led by the Nicholas Institute for Environmental Policy Solutions, which appears in the journal Environmental Science & Technology, concludes that making state spill data more uniform and accessible could provide stakeholders with important information on where to target efforts for locating and preventing future spills. However, reporting requirements differ across states, requiring considerable effort to make the data usable for analysis. 
 
By examining state-level spill data, it finds that 2 to 16 percent of hydraulically fractured oil and gas wells across Colorado, New Mexico, North Dakota and Pennsylvania spill hydrocarbons, chemical-laden water, hydraulic fracturing fluids and other substances each year. The study characterizes spills associated with unconventional oil and gas development at 31,481 wells hydraulically fractured or "fracked" in the four states between 2005 and 2014, identifying 6,648 spills in the 10-year period. Across all states, the first three years of a well's life, when drilling and hydraulic fracturing occurred and production volumes were highest, had the greatest risk of a spill. It found a significant portion of spills (from 26 percent in Colorado to 53 percent in North Dakota) occur at wells that experienced more than one spill, which suggests that wells where spills have already occurred merit closer attention.
 
Authors: Lauren A. Patterson, Katherine E. Konschnik, Hannah Wiseman, Joseph Fargione, Kelly O. Maloney, Joseph Kiesecker, Jean-Philippe Nicot, Sharon Baruch-Mordo, Sally Entrekin, Anne Trainor, and James E. Saiers

Filters

Hydraulic Fracturing and Water Use

Climate and Energy

Water Policy

State Policy

Journal Articles

Making Sure the Blue Economy is Green

Given the growing and seemingly limitless capacity to industrialize the oceans, there is a need to reimagine how to effectively measure, monitor and sustainably manage this seventy-one percent of the Earth's surface. In a commentary for the journal Nature Ecology and Evolution, the Nicholas Institute's John Virdin and co-authors write that we are now at an inflection point in history, where we no longer look to the ocean solely for protein and waterways, but also as a source for many more aspects of our increasingly industrialized society. While much of our focus has been terrestrially based where impacts are easier to identify, the authors write, greater attention is needed on the industrialization of our oceans, which have long been considered as a source of inexhaustible resources and reservoirs for unwanted terrestrially generated waste. 

Authors: Jay S. Golden, John VirdinDouglas NowacekPatrick HalpinLori Bennear, and Pawan G. Patil

Filters

Ocean and Coastal Policy

Environmental Economics

Journal Articles

North Carolina’s Ocean Economy: A First Assessment and Transitioning to a Blue Economy

North Carolina’s ocean and coastal areas and their resources shape a unique and important segment of the state’s economy, particularly for its eastern region. From seafood and commercial fishing opportunities, to access to global markets through shipping and transport, and finally tourism and recreation, thousands of jobs and billions in revenue for the state depend on the ocean and coast. Yet to date, this segment of North Carolina’s economy has not been identified as a discrete contributor in the state. This working paper provides a first assessment of the existing information available to measure the size and extent of North Carolina’s ocean economy, and proposes next steps to transition to a blue economy.

Authors: Jane Harrison, Amy Pickle, Tibor Vegh, and John Virdin

Filters

Blue Economy

Ocean and Coastal Policy

Ecosystem Services

Environmental Economics

State Policy

Working Papers

Potential Pathways: Future of the Electricity Sector in the Southeast—Workshop Summary, October 5, 2016, Durham, North Carolina

The electricity sector is rapidly changing due to the shale gas revolution, a precipitous decline in coal generation, steep declines in the cost of solar generation, the proliferation of smart grid technologies, and a suite of new environmental regulations. On October 5, 2016, Duke University’s Nicholas Institute for Environmental Policy Solutions and the Duke University Energy Initiative co-hosted a one-day workshop that brought together experts on the electricity sector in the Southeast—including representatives of electric utilities, other market participants, nonprofit organizations, and energy and environmental agencies—to discuss factors affecting the region’s electricity sector. The main topics were future demand uncertainty, the ways that technology innovation could affect business models and regulatory structures, and the role of nuclear energy in the Southeast’s electricity future. This proceedings describes the main ideas that emerged from the workshop. It concludes with issues ripe for future research.

Author: Danielle A. Arostegui

Filters

Climate and Energy

Environmental Economics

Energy Sector

Proceedings

Pages