envecon 2025
Applied Environmental Economics Conference
Friday, 14th March 2025 | The Royal Society, London
with the support of
About envecon
envecon brings together environmental economists and decision-makers from academia, consultancy, policy, business and the third sector. It is a multi-sector conference providing a unique opportunity to share the latest research and applications of environmental economics in the UK and around the world.
envecon2025 will host 150 people in person at The Royal Society, London. Delegates will listen to the keynote speech and sessions featuring papers, observe posters, interact at exhibition stands, and enjoy the opportunity to network during lunch and the drinks reception at the end of the day. Livestream will also be open to online participants throughout the day.
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​​The purchase form for tickets is below. If ordering multiple tickets, ensure you have the details for each attendee at hand.
To book over email or for large groups, or to discuss sponsorship or exhibition stands, or anything else, please email us at uknee@uknee.org.uk.​
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Standard
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Price: £350
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In-person attendance
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Lunch & refreshments throughout the day
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Evening reception
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Access to members sections of the website, including all previous event recordings
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Newsletter subscription
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Full UKNEE Membership for one year, including a year's subscription to the Journal of Environmental Economics and Policy
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Student
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Price: £120
- Includes:​
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In-person attendance
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Lunch & refreshments throughout the day
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Evening reception
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Associate UKNEE membership for one year (without JEEP subscription)
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Access to members sections of the website, including all previous event recordings
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Newsletter subscription
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Online
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Price: £30
- Includes:​
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Live streaming on the day
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Access to envecon 2025 recordings
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Associate Membership for one year (without JEEP subscription)
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Access to members sections of the website, including all previous event recordings
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Newsletter subscription
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Purchase Tickets
Problems with this page? Try booking directly on the Ticket Tailor page here.
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Please note: refunds can be requested up to 28th February. We cannot offer refunds after this date as we will have incurred costs on your behalf.
envecon 2025 Agenda
Applied Environmental Economics Conference
​Attendees will join the conference from 9am. The keynote will begin at 9:30am. Sessions will run until 5.20pm, with several refreshment breaks and a full hour for lunch. A drinks reception will take place following the final session.
Our Sponsors & Partners
Economics for the Environment Consultancy (eftec)
eftec is the UK's first specialist environmental economics consultancy working on economic valuation, appraisal, chemicals policy and natural capital accounting.
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eftec provide operational and management support to UKNEE and envecon.
UKRI Economics of Biodiversity Programme
The Economics of Biodiversity programme are sponsoring envecon for the first time in 2025 to share their work and upcoming events. This programme aims to inform decision-making by addressing critical gaps in our current understanding of the economic values, benefits and costs that society associates with, and derives from, biodiversity. The seven projects funded under this programme bring together scientists and economists to explore how economies are embedded in nature, and how nature and biodiversity are integrated into economic models and decision making processes, by: • examining how multiple pluralistic values associated with biodiversity are captured, derived, applied and utilised •investigating the ways in which socioeconomic and ecological systems are interlinked or coupled, and how this can help build and maintain resilience of these systems in response to increasing disturbances •exploring how different evidence-based biodiversity valuation methods (including those beyond monetary valuations) can be embedded within mainstream local and national decision making in the UK, whilst also reflecting upon the needs of future generations and meeting global biodiversity and development targets.
Dragon Capital & LEEP Institute (University of Exeter)
The Dragon Capital Chair in Biodiversity Economics is a 5-year program (2020-2025) homed in the LEEP Institute, Department of Economics, the University of Exeter Business School. Professor Ben Groom holds this post, which is generously funded in collaboration with Dragon Capital, an investment manager based in Vietnam and focused on Frontier Asia.
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We are grateful to have Dragon Capital as a sponsor of envecon for the second year running.
Chartered Institution of Water and Environmental Management (CIWEM)
CIWEM are the leading Royal Chartered professional body dedicated to sustainable management of the environment, globally.
CIWEM assisted UKNEE to achieve CPD Accreditation for envecon 2025.
European Association of Environmental and Resource Economists (EAERE)
EAERE aims to contribute to the development and application of environmental, climate, and resource economics by encouraging multi-stakeholder collaboration. EAERE are long-standing partners of envecon and UKNEE, having endorsed the conference.
Keynote Speaker: Kerry ten Kate
Kerry ten Kate is an independent consultant, advising governments, companies and civil society organisations on how best to integrate the natural environment into economic decision-making. She is a non-executive board member of Finance Earth and chairs the Strategic Advisory Group on Nature Investment Standards for the British Standards Institution. She is a trustee of the Royal Society for the Protection of Birds, where she chairs the Conservation Committee. Kerry is a member of the Aldersgate Group, Conservation Fellow at the Zoological Society of London and a member of IUCN’s Commission on Ecosystems Management.
Kerry was on the board of Natural England and a member of the Natural Capital Committee. Formerly a barrister, she served on the Secretariat of the United Nations Conference on Environment and Development in 1992 (the 'Rio Earth Summit'). She founded and directed the international Business and Biodiversity Offsets Programme (BBOP) at Forest Trends, in which 100 organisations worked over fifteen years towards ‘Biodiversity Net Gain’. She was policy adviser at the Royal Botanic Gardens, Kew and Director of Investor Responsibility at asset manager Insight Investment.
Session 1: Energy Transition
The Survival of the Energy Fittest: Evidence from French Manufacturing Firms
Ara Jo - Assistant Professor, University of Bath
In studying the effectiveness of climate policy, prior studies have mostly focused on the improvement in energy efficiency or emissions within firms. However, energy intensity at an aggregate level may also change if energy-intensive firms exit, less energy-intensive firms enter the market more successfully, or gain market shares from energy-intensive firms. This paper extends the scope of analysis to document the relative contribution of these additional channels in reducing aggregate energy intensity and emissions. Our findings show that ignoring such forces of industry dynamics significantly underestimates the impact of climate policy on reducing aggregate emissions.
Making Jobs Out of the Energy Transition: Evidence from France
Guillaume Wald - PhD Candidate, Mines Paris - PSL
This paper estimates the job-creation impact of the largest home energy retrofit program in Europe, the French Energy Efficiency Obligations (EEO) scheme. Using a synthetic control model and regional employment data from 2016-2020, we find that the program created at least 4,900 jobs annually, or about 1.5 direct jobs per million euros invested. This is at least four times lower than ex-ante estimates. Most jobs were permanent, signalling sector consolidation, with micro-enterprises of less than 10 workers benefiting despite higher administrative burdens. We find no effect on wages, contrary to the assumption of a labour supply shortage. This suggests that part of the additional investments may have been captured by higher margins.
Energy Poverty, Cold Weather and Nutrition:
Evidence from Food Purchases of UK Households
Dr Edward Manderson - Senior Lecturer, University of Manchester
We estimate the relationship between cold weather shocks and monthly food purchases of UK households using micro-level barcode scanner data. We find that households increase food spending contemporaneously but then reduce food spending in subsequent months. We find consistent evidence of a ‘poverty gap’ - a difference between income groups in the (proportional) food-spending response to contemporaneous cold weather. This poverty gap persists across nutrition groups, indicating that lower income households cannot fully close the gap through more nutrient-efficient spending. Poor households may therefore need support with energy bill payments to mitigate negative impacts of energy costs on their nutrition.
Meta-emulation: An Application to the Social Cost of Carbon
Professor Richard Tol MAE
Professor of Economics, University of Sussex & Vrije Universiteit Amsterdam
A large database of published model results is used to estimate the distribution of the social cost of carbon as a function of the underlying assumptions. The literature on the social cost of carbon deviates in its assumptions from the literatures on the impacts of climate change, discounting, and risk aversion. The proposed meta-emulator corrects this. It can also be used to rapidly explore alternative assumptions.
Session 2: Climate and Nature
Economics of Nature-Based Solutions for Mitigating Climate Change
Professor Edward Barbier - Colorado State University
Nature-based solutions are actions to protect, sustainably manage, or restore natural ecosystems that enhance their ability to reduce or remove carbon emissions. They are especially important to reducing emissions from land use change, and NbS credits feature prominently in carbon offset markets. There is the need for more economic assessments of the unique benefits, costs, and distributional impacts of NbS, of additionality, leakage, and permanence concerns, and of the integrity of NbS offset credits. The long-term potential of NbS for climate mitigation will depend on their cost-effectiveness compared to conventional energy and technology-based solutions. In addition, NbS need support from economy-wide policies and financing sources other than carbon markets.
Payment for Ecosystem Services Programs and Climate Change Adaptation in Agriculture
Youngho (Young) Kim - Postdoctoral Research Fellow, University of Oxford
Payments for ecosystem services programs can enhance resilience to extreme weather events by establishing natural infrastructure. I investigate the effectiveness of the Conservation Reserve Enhancement Program (CREP) in the United States in mitigating flooded crop losses through the restoration of riparian buffers and wetlands. By leveraging variation in the timing of the program’s introduction across counties, I find significant flood mitigation benefits of CREP. These benefits reduced crop insurance indemnity payouts that would have otherwise been paid to insured farmers. Overall, these findings underscore the critical role of PES programs in facilitating nature-based solutions for climate change adaptation.
Technological Change to Mitigate Carbon Leakage from Afforesting Farmland: the Role of Recirculating Aquaculture Systems
Thiago Morello - Postdoctoral Research Fellow, LEEP, University of Exeter
We evaluate the potential of land-saving recirculating aquaculture systems (RAS) to offset carbon leakage from the afforestation planned in Great Britain’s net-zero greenhouse gas strategy. Our partial market equilibrium analysis of GB data integrated farm modelling, which relied on positive mathematical programming, and seafood demand estimation, which employed linear approximate almost ideal demand system econometrics. Results showed that while the offset from RAS was modest for most GB farms, it was full for farms with access to pre-existing anaerobic digesters. Also, pollinator biodiversity improved modestly. Therefore, net-zero emissions are achievable internationally by coupling afforestation with technological change in food production.
Forest Conservation Policy, Additionality, and Socio-Environmental Implications
Ville Inkinen - Postdoctoral Research Fellow, LEEP, University of Exeter
This study assesses the effectiveness of protected areas in Bolivia from 1990 to 2023. We train a machine learning model to predict deforestation risk 20 years into the future. Then, we implement a staggered difference-in-differences design where the estimation sample is constructed by matching treated and control units based on the predicted deforestation risk. Estimates indicate that establishing protected areas reduced annual deforestation rates by about 0.5% in treated areas. Interventions in areas with high baseline deforestation risk drive this effect, while effects in low-risk areas are limited. Our findings highlight the utility of machine learning methods in intervention targeting and impact evaluation.
Panel Session: Socio-Economic Analysis for Chemicals Policy
Thea Sletten
Director of Chemicals Policy
eftec
Heather McFarlane
Senior Analyst:
Chemicals Regulation
Fidra & the OEP
Julia Sussams
Evidence Strategy Lead: Environmental Impact of Chemicals
Defra
Mike Holland
EMRC, Freelance Policy Consultant
There are thousands of chemicals in use across all aspects of modern economies: while many are not harmful, others pose significant risks and many have unknown effects. Policy has a tendency to be reactive, taking action when risks are beginning to be observed. Economics has the potential to enable the development of better informed interventions, sooner.
Economic analysis for chemicals policy can facilitate multidisciplinary, multisector collaborations to peel back the uncertainty of public and private costs on these restrictions. Our panellists will discuss the current practice and key challenges and explore the opportunities for effective chemicals management. This session will also explore the role of economists and socio-economic analysis in shaping chemicals policies and strategies.
Session 3: Transport Transition
The Non-Green Effects of Going Green: Local Environmental and Economic Consequences of Lithium Extraction in Chile
Vaios Triantafyllou - PhD Candidate in Economics, Cornell University
We study the local environmental and economic effects of lithium extraction in Chile, driven by the global push for Electric Vehicle adoption. Our findings reveal significant declines in groundwater levels, reductions in vegetation, economic activity, and local populations due to exposure to lithium extraction. We present evidence that vegetation reduction was partly due to declines in agricultural crops, which reduced economic opportunities and likely explain the observed population outflows. These results highlight the negative impacts of lithium extraction, emphasizing the need for policies to mitigate water depletion and compensate affected communities, especially as demand for lithium continues to rise.
The Impact of the London ULEZ on Electric and Hybrid Vehicle Adoption: A Boundary-Based Difference-in-Difference Analysis
Dr Prachi Singh - Lecturer in Economics, University of Aberdeen
This paper examines the impact of London’s Ultra Low Emission Zone (ULEZ), introduced in April 2019, on the adoption of electric and hybrid vehicles. Using vehicle sales data at the postal district level, we leverage the ULEZ’s exemption for residents within the zone using an empirical approach which compares sales in areas just outside the ULEZ boundary to those within it. Our results reveal a 140% increase in low-emission vehicle sales outside the boundary, albeit from a modest baseline of 1.5 sales per district pre-policy. Our results underscore the ULEZ's impact at the extensive margin: it effectively incentivizes consumers to adopt low-emission vehicles, thereby contributing to fundamental, long-term improvements in air quality and public health in London.
Shifting Gears: Environmental Regulation in the Car Industry and Technological Change Among Suppliers
Johannes Gessner - PhD Candidate, University of Mannheim
In this paper, I study the effect of environmental regulation in a downstream industry on the innovation outcomes of suppliers in the context of the European CO2 emission standard for passenger cars. I construct a novel data set that links administrative data on car manufacturer compliance to supplier patent data using information on automotive supply chains. To identify the causal effect of changes in the stringency of the emission standard, I leverage the heterogeneous exposure of automotive suppliers to changes in the composition of the European car market in the aftermath of the 2015 Volkswagen diesel scandal. Exposure to more stringent environmental regulations increases innovation for zero-emission vehicle technologies among existing suppliers. In addition, the likelihood that car manufacturers form new supply chain links to firms with expertise in technologies to reduce vehicle emissions increases in response to more stringent environmental regulations. These results suggest that environmental regulation induces economically significant technology spillovers to the regulated firms.
Session 4: Air and Health
Learning is in the Air: Clean Air as an Experience Good
Yixin Sun - PhD Candidate, University of Chicago
Despite the significant health costs of air pollution, willingness-to-pay (WTP) for clean air remains low in highly polluted, developing contexts. We propose that clean air is an experience good, whose value becomes evident only after consumption. To test this, we conducted a randomized controlled trial where air purifiers were deployed to provide direct experience with cleaner air. We find that this experience increases households' awareness of how clean air affects their health and raises demand for purifiers, our proxy for clean air demand, but only among wealthier households. This suggests that while experience shapes preferences for clean air, income and credit constraints limit its influence in developing settings. Our study provides the first experimental evidence of how experience can shift demand for clean air, with implications for public health policy and environmental awareness campaigns, while highlighting biases in using WTP estimates in economic evaluations.
Quantifying the Economic Cost of Pollution: The Impact of Air Pollution on Mental Health in England
Yue He - PhD Candidate, University of Manchester
Air pollution is well established as a threat to physical health, yet its causal effects on mental health remain underexplored. Using an instrumental variable method, this research reveals the causal effects of air pollution on the worsening of depression, anxiety, and psychoses and related disorders. A 1 μg/m3 increase in both PM10 and O3 causes an additional £21.5 million in annual primary care medication expenditure and approximately £4.6 billion in total annual costs in England. These findings highlight the underestimated economic costs of air pollution, emphasising the need to incorporate its mental health impact into policy evaluations and strengthen air quality regulations for both public health and economic efficiency.
Valuing the Health and Wellbeing Benefits of NHS Scotland's Outdoor Estate
Dr Luis Loria-Rebodello - University of Aberdeen
This research examines the health and wellbeing benefits of NHS Scotland’s open spaces (which make up half of the NHS estate). Through a representative survey of Scottish adults and methods endorsed by the Office for National Statistics, we estimate that the health benefits of NHS open spaces are significant in value and at least similar to those provided by traditional open spaces. Most benefits and overall value come from local sites offering primary care services. The results will improve understanding of the ecosystem services within the NHS estate and provide insights into the social and economic value of investments in NHS open spaces.
Posters
The Urban Mortality Consequences of Rainfall and Sea Level Rise
Thomas Bearpark - PhD Candidate, Princeton University
We estimate the mortality consequences of rainfall in one of the world’s largest cities – Mumbai, India. We find that rainfall causes 8% of Mumbai’s deaths during the monsoon season, and that nearly 90% of this burden is borne by slum-residents. We use our estimates to project how rising sea levels will amplify rainfall-induced mortality in the future. Our estimates are an order of magnitude larger than is documented by official statistics, highlighting the urgent need for investment in improved drainage, sanitation, and waste management infrastructure. Moreover, our analysis highlights a critical omission in current projections of climate change impacts.
World Economies' Progress in Decoupling from CO2 Emissions
Dr Jaume Freire González - Research Scientist at IAE-CSIC, Affiliate Professor at the Barcelona School of Economics
The relationship between economic growth and CO₂ emissions was analyzed using segmented-sample regressions across 164 countries (98.34% of the global population) from 1822 to 2018, challenging traditional econometric methods. Results show that although the link between GDP per capita and CO₂ emissions per capita weakens over time, it remains positive overall, with only some high-income countries reversing this trend recently. While 49 countries have decoupled emissions from growth, 115 have not, particularly in Africa, America, and Asia. These findings emphasize the urgent need for stronger climate policies, as global decoupling is insufficient to meet the Paris Agreement's 1.5°C target.
Sea the Value: Marine Biodiversity Benefits for a Sustainable Society
Mark Collar - Senior Consultant, Economics for the Environment Consultancy
In the UK marine and coastal environment, the absence of fine scale extent, condition, and resilience metrics (i.e., real world data at decision-relevant scales) in existing environmental assessments makes it difficult to incentivise coastal and marine restoration at the scale necessary to support UK government’s domestic and international biodiversity and climate objectives. In the UKRI-funded Sea the Value project, led by Plymouth Marine Laboratory (PML), eftec and PML have linked multidisciplinary environmental and social data to economic valuation at two case study sites. Economic analysis focuses on two regulating services - carbon regulation and nutrient bioremediation (nitrogen and phosphorus) – and marine biodiversity. It applies a natural capital approach, developing baseline and restoration scenario asset registers, and using these to quantify and value ecosystem services. The project illustrates the practical benefits and challenges in combining multi-disciplinary, site-level and spatially explicit evidence into economic valuation and nature finance.
Accounting for Water Ecosystem Services for National and Regional Decision Making in Great Britain
Vittoria Reas - PhD Student, University of Siena
Reliable assessment of water-related ecosystem services (WES) is crucial for effective land management and policy evaluation. Following the SEEA EA framework, this study offers region-specific insights to inform decision-making within England's water management regions. We estimate the economic value of water purification at national and regional levels between 2006 and 2012, highlighting critical changes over time. Additionally, the study examines three WES in the Humber catchment for the same period: water provisioning, purification, and water-related recreation. These findings underscore the economic importance of healthy freshwater ecosystems and the need to integrate WES accounting into resource management strategies.
