Recent climate diplomacy efforts have resulted in Just Energy Transition Partnerships (JETPs) with South Africa, Indonesia and Vietnam, mobilizing financial support for ambitious decarbonization targets. Here, to assess JETPs’ alignment with global climate targets, we conduct a model-based assessment of JETPs’ energy and emissions targets. Results show greater alignment with a global 1.5 °C trajectory, indicating a promising route for international collaboration to keep Paris Agreement goals within reach.

The presence of long-term contracts indexed to oil prices is a key feature of the evolution of the European natural gas industry. During the 2000’s, the European Commission (EC) promoted reforms to establish a single and integrated natural gas market, leading to the development of short-term regional markets based on hubs. This paper tests the hypothesis that asymmetric price responses in the continental European hubs derive from transaction costs. By applying linear and nonlinear error correction models, it assesses the price transmission dynamics and the degree of integration between the German, the Belgium and the Dutch spot markets. The models identified cointegration relations, price asymmetries and transaction costs in these markets. Results show a high degree of integration across regions, with prices converging rapidly to their long-run equilibrium. However, asymmetric price adjustments reveal the presence of transaction costs in the German regional hub.