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February 2019

Friday Lunch Meeting, Olivier Massol, 22th of february 2019

22 February 2019

Olivier Massol (Professor at the Institut Français du Pétrole et Énergies Nouvelles (IFP Énergies Nouvelles)) will lecture about his paper Phasing out the U.S. Federal Helium Reserve: Policy insights from a world helium model (link here).   Abstract This paper develops a detailed partial equilibrium model of the global helium market to study the effects of the recently decided rapid phase out of the U.S. Federal Helium Reserve (FHR), a vast strategic stockpile accumulated during the 1960s. The model incorporates…

Olivier Massol (Professor at the Institut Français du Pétrole et Énergies Nouvelles (IFP Énergies Nouvelles)) will lecture about his paper Phasing out the U.S. Federal Helium Reserve: Policy insights from a world helium model (link here).

 
Abstract

This paper develops a detailed partial equilibrium model of the global helium market to study the effects of the recently decided rapid phase out of the U.S. Federal Helium Reserve (FHR), a vast strategic stockpile accumulated during the 1960s. The model incorporates a detailed representation of that industry and treats both helium producers and the FHR as players in a dynamic non-cooperative game. The goal of each player is assumed to be the maximization of discounted profit, subject to technical and resource constraints. We consider two alternative policies aimed at organizing the phase out of the FHR: the currently implemented one and a less stringent one whereby the FHR would be allowed to operate as a profit-maximizing agent during an extended period of time. Evidences gained from a series of market simulations indicate that, compared to the current policy, a less stringent policy mandate systematically increases the financial return to the U.S. federal budget, always enhances environmental outcomes as it lowers helium venting into the atmosphere, and also augments global welfare in three out of the four scenarios considered in the paper. 

 
If you wish to receive invitations to FLMs, present your works or unsubscribe from the mailing list please feel free to contact this address: flm@ChaireEconomieduClimat.org
 

Chaire Economie du Climat

Palais Brongniart, 28 Place de la bourse – 75 002 Paris

FLM- Salle du Séminaire – 4è étage (12.30 pm – 2 pm)

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March 2019

Friday Lunch Meeting, Philippe Zaouati, 15th of March 2019

15 March 2019

Philippe Zaouati President of Finance for Tomorrow and Managing Director of Mirova, presents his report Canfin-Zaouati: a green Juncker plan in French,written with: Pascal Canfin, Director General of WWF France.

Philippe Zaouati President of Finance for Tomorrow and Managing Director of Mirova, presents his report Canfin-Zaouati: a green Juncker plan in French,written with: Pascal Canfin, Director General of WWF France.
Link to the document: https://financefortomorrow.com/2018/12/18/rapport-canfin-zaouati/
 
Abstract

During the summer of 2018, Nicolas HULOT, Minister of Ecological and Solidarity Transition, and Bruno LE MAIRE, Minister of Economy and Finance, entrusted Pascal CANFIN, former Minister of Development and Director of the Foundation WWF France, and Philippe ZAOUATI, President of Finance for Tomorrow and General Manager Mirova, producing a report to study the usefulness of risk-sharing financial instruments in the context of financing the French transition to the carbon neutrality, in connection with the reflections led around the Climate Finance Day of November 2018.

For a successful transition, the challenge is “to invest more, but more importantly to invest better”. Since public funding alone is not enough to meet this challenge, the challenge for public action is to bring about a massive reorientation of private flows. In addition to proposals to change the regulatory or fiscal framework, the government is interested in the role that innovative financial risk-sharing mechanisms could play in maximizing the leverage effect of public funds.

In this context, the mission aims to produce recommendations for the implementation of financial instruments in which public money is used as a risk-sharing tool, in order to increase the involvement of private investors in the financing of transition sectors facing an investment deficit such as their development remains insufficient to meet public policy objectives.

From this roadmap, this report:

 examines issues related to the use of public financial instruments for TE (I)

 establishes an overview of financial instruments developed at French and European level (II)

 assesses the extent to which they could respond to under-investment situations in certain critical sectors in France in order to succeed in their TE (III)

 formulates concrete observations and recommendations to begin the transition to the scale of the French TE through the use of risk-sharing financial instruments (synthesis and recommendations).

The report takes into account, in its recommendations for the use of financial instruments, comprehensive public risk management policies that are or could be deployed (regulation, taxation, support to the structuring of value chains, etc.), accounting and budgetary issues, the need to better mobilize existing programs, particularly at European level, while limiting the risks of moral hazard.

 
If you wish to receive invitations to FLMs, present your works or unsubscribe from the mailing list please feel free to contact this address: flm@ChaireEconomieduClimat.org
 

Chaire Economie du Climat

Palais Brongniart, 28 Place de la bourse – 75 002 Paris

FLM- Salle du Séminaire – 4è étage (12.30 pm – 2 pm)

See the details of this event
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