Transaction costs (TCs) must be taken into account when assessing the performance of policy instruments that create markets for the diffusion and commercialization of lowcarbon technologies (LCTs). However, there are no comprehensive studies on the development and application of transaction cost analysis to LCTs. In this meta-analysis, a wide-ranging evaluation of TCs associated with energy efficiency, renewable energy, and carbon market technologies is provided. There is a plethora of different definitions of, and measurement techniques to estimate, TCs. There is wide variation in the quantitative estimates, which can be attributed to factors such as the definition used, data collection, quantification methods, the type and size of technologies, the regulatory frameworks, the complexity of transactions, and the maturity of policy instruments. It is concluded that TCs are highly specific to both LCTs and policy instruments and thata common methodological approach is needed to avoid misleading policy analysis of the extant and future assessments. Policy Relevance Transaction costs (TCs) accrued by, for instance, the search for information, due diligence, monitoring and verification (M&V) activities, must be considered in the design, implementation and assessment of policy instruments. Such costs can have a negative effect on the performance of policy instruments aimed at the diffusion and commercialization of low-carbon technologies. It is shown here that TC analysis is mostly technology and policy context-specific and hence that it is not advisable to make generalizations about sources and estimates. The nature and scale of TCs are likely to differ due to a variety of endogenous determinants (e.g. size and performance of technologies), exogenous drivers (e.g. regulatory policy frameworks), and methodological aspects (e.g. quantification techniques). Several measures and strategies have the potential to reduce TCs, including standardized full cost accounting systems, an ex ante M&V approach, project bundling, and streamlining of procedures.

Rapid changes in the natural and social environments of the Arctic region have led to increased scientific presence across the Arctic. Simultaneously, the importance of involving local Indigenous peoples in research activities is increasingly recognized for several reasons, including knowledge sharing and sustainable development. This study explores Arctic early career researchers’ (ECRs) perceptions on involving local Indigenous peoples in their research. The results, based on 108 online survey respondents from 22 countries, show that ECRs value the knowledge of local Indigenous peoples and generally wish to extend the involvement of this group in their research. ECRs in North America and in the social sciences have more experience working with Indigenous communities and value it more than researchers in the Nordic area and in the natural sciences. Respondents cited more funding, networking opportunities, and time as the main needs for increasing collaborations. The results of this study are helpful for developing strategies to build good relationships between scientists and Indigenous peoples and for increasing the involvement of Arctic Indigenous peoples in science and engagement of their knowledge systems. The complementary views from Arctic Indigenous peoples are, however, needed for a full understanding of how to effectively achieve this.

The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development/World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent.