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Provisioning dynamic machine learning (ML) inference as a service for artificial intelligence (AI) applications of edge devices faces many challenges, including the trade-off among accuracy loss, carbon emission, and unknown future costs.…
Using purely probabilistic methods, we prove the existence and the uniqueness of solutions fora system of coupled forward-backward stochastic differential equations (FBSDEs) with measurable, possibly discontinuous coefficients. As a…
Climate and energy policy targets of the European Commission aim to make Europe the first climate-neutral continent by 2050. For low-carbon and net-neutral energy systems primarily based on variable renewable power generation, issues…
This study explores whether the Global Value Chain(GVC) participation of 16 emerging market economies (EMEs) from 1995 to 2018 in the manufacturing sector leads to a rise in carbon emissions embodied in trade. The study covers the…
Recent developments on financial markets have revealed the limits of Brownian motion pricing models when they are applied to actual markets. L\'evy processes, that admit jumps over time, have been found more useful for applications. Thus,…
Expanding multi-country emissions trading system is considered as crucial to fill the existing mitigation gap for the 2\degree C climate target. Trustworthy emissions accounting is the cornerstone of such a system encompassing different…
Investments into renewable energy are increasing rapidly around the world. Energy system models are able to provide insights into optimal investment capacities and thus are widely used to aid the long-term investment decision-making under…
Integrated Assessment Models (IAMs) are mainstay tools for assessing the long-term interactions between climate and the economy and for deriving optimal policy responses in the form of carbon prices. IAMs have been criticized for…
Long-duration energy storage (LDES) is a key component for fully renewable, sector-coupled energy systems based on wind and solar. While capacity expansion planning has begun to take into account interannual weather variability, it often…
We study the mitigation of climate tipping point transitions using an energy balance model. The evolution of the global mean surface temperature is coupled with the CO2 concentration through the green house effect. We model the CO2…
The energy transition is reshaping electricity systems, bringing new challenges, and emphasizing the need for strategic planning. Energy policies play a crucial role in guiding this transition. However, assessing their impacts often…
Alignment of financial market incentives and carbon emissions disincentives is key to limiting global warming. Regulators and standards bodies have made a start by requiring some carbon-related disclosures and proposing others. Here we go…
In order to reach EU's goal of zero emissions in 2050, the energy system will go through a significant transition over the next decades. To substitute fossil energy carriers, renewable energy sources will be mainly integrated in the power…
Carbon emission right allowance is a double-edged sword, one edge is to reduce emission as its original design intention, another edge has in practice slain many less developed coal-consuming enterprises, especially for those in thermal…
While the transition to electric vehicles (EVs) is essential for decarbonizing the transportation system, the production and distribution of EVs entail substantial carbon costs. To ensure these emissions are accurately accounted for and…
This paper investigates the feasibility of using a discriminate pricing scheme to offset the inconvenience that is experienced by an energy user (EU) in trading its energy with an energy controller in smart grid. The main objective is to…
In an attempt to improve the utilization efficiency of multi-energy coupling in park-level integrated energy system (PIES), promote wind power consumption and reduce carbon emissions, a low-carbon economic operation optimization model of…
In this paper, I consider a simple heterogeneous agents model of a production economy with uncertain climate change and examine constrained efficient carbon taxation. If there are frictionless, complete financial markets, the simple model…
As variable renewable energy increases and more demand is electrified, we expect price formation in wholesale electricity markets to transition from being dominated by fossil fuel generators to being dominated by the opportunity costs of…
In the context of increasingly complex environmental challenges, effective pollution control mechanisms are crucial. By extending the state of the art auction mechanisms, we aim to develop an efficient approach for allocating pollution…