UCL Discovery
UCL home » Library Services » Electronic resources » UCL Discovery

Barriers to energy efficiency in shipping: A triangulated approach to investigate the principal agent problem

Rehmatulla, N; Smith, T; (2015) Barriers to energy efficiency in shipping: A triangulated approach to investigate the principal agent problem. Energy Policy , 84 44 - 57. 10.1016/j.enpol.2015.04.019. Green open access

[img]
Preview
Text
Rehmatulla & Smith (2015) PA problems in shipping Triangulation.pdf
Available under License : See the attached licence file.

Download (2MB)

Abstract

Energy efficiency is a key policy strategy to meet some of the challenges being faced today and to plan for a sustainable future. Numerous studies empirical studies in various sectors suggest that there are cost-effective measures that are available but not always implemented due to existence of barriers to energy efficiency. Several cost-effective energy efficient options (technologies for new and existing ships and operations) have also been identified for improving energy efficiency of ships. This paper is one of the first to empirically investigate barriers to energy efficiency in the shipping industry using a novel framework and multidisciplinary methods to gauge implementation of cost-effective measures, perception on barriers and observations of barriers. It draws on findings of a survey conducted of shipping companies, content analysis of shipping contracts and analysis of energy efficiency data. Initial results from these methods suggest the existence of the principal agent problem and other market failures and barriers that have also been suggested in other sectors and industries. Given this finding, policies to improve implementation of energy efficiency in shipping need to be carefully considered to improve their efficacy and avoid unintended consequences.

Type: Article
Title: Barriers to energy efficiency in shipping: A triangulated approach to investigate the principal agent problem
Open access status: An open access version is available from UCL Discovery
DOI: 10.1016/j.enpol.2015.04.019
Publisher version: http://dx.doi.org/10.1016/j.enpol.2015.04.019
Additional information: © 2015 The Authors. Published by Elsevier Ltd. This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/).
Keywords: Principal agent, market failures, barriers, shipping, transportation
UCL classification: UCL
UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL BEAMS
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > Bartlett School Env, Energy and Resources
URI: https://discovery.ucl.ac.uk/id/eprint/1467242
Downloads since deposit
185Downloads
Download activity - last month
Download activity - last 12 months
Downloads by country - last 12 months

Archive Staff Only

View Item View Item