Search results for: sustainable banking

Authors: Emilia Klepczarek

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The Basel Committee on Banking Supervision and the OECD found problems with the mechanisms of corporate governance as one of the major causes of destabilization of the financial system and the subprime crisis in the years 2007-2010. In response to these allegations, there were formulated a number of recommendations aimed at improving the quality of supervisory standards in financial institutions. They relate mainly to risk management, remuneration policy, the competence of managers and board members and transparency issues. Nevertheless, a review of the empirical research conducted by the author does not allow for an unambiguous confirmation of the positive impact of the postulated standards on the stability of banking entities. There is, therefore, a presumption of the existence of hidden variables determining the effectiveness of the governance mechanisms. According to the author, this involves concepts arising from behavioral economics and economic anthropology, which allow for an explanation of the effectiveness of corporate governance institutions on the basis of the socio-cultural profile of its members. The proposed corporate governance culture theory indicates that the attributes of the members of the organization and organizational culture can determine the different effectiveness level of the governance processes in similar formal corporate governance structures. The aim of the presentation is, firstly, to draw attention to the vast discrepancies existing within the results of research on the effectiveness of the standards of corporate governance in the banking sector. Secondly, the author proposes an explanation of these differences on the basis of governance theory breaking with common paradigms. The corporate governance culture theory is focused on the identity of the individual and the scope of autonomy offered within his or her institution. The coexistence of these two conditions - the adequate behavioral profile and enough freedom to decide - is a prerequisite for the efficient functioning of the institutions of corporate governance, which can contribute to rehabilitating and strengthening the stability of the financial sector.

Keywords: autonomy, corporate governance, efficiency, governance culture

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Authors: Sunil Chaudhary, Rajendra Bahadur Thapa, Eleni Berki, Marko Helenius

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The increasing number of Internet and mobile phone users, and essentially those, who use these electronic media to perform online transactions makes Nepal lucrative for phishing attacks. It is one of the reasons behind escalating phishing attacks in the country. Therefore, in this paper we examine various phishing attempts and real scenarios in Nepal to determine the seriousness of the problem. We also want to find out how prepared are the Internet and mobile phone users and how well-equipped are the private sector and government authorities responsible to handle cybercrime in the country. We considered five areas of research study, i.e., legal measures, technical and procedural measures, organizational structure, capacity building and international cooperation. These constitute important factors in cyber security and are recommended by the Global Cyber security Agenda (GCA). On the basis of our findings, we provide essential suggestions to make anti-phishing measures more appropriate to Nepalese State and society.

Keywords: internet banking, mobile banking, e-commerce, phishing, anti-phishing, Nepal

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Authors: K. Y. Chen, H. Chua, C. W. Kan

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Environmental investment is an important issue in many countries. In this study, we will first review the environmental issues related to India and their effect on the economical development. Secondly, economic data would be collected from government yearly statistics. The statistics would also include the environmental investment information of India. Finally, we would co-relate the data in order to find out the relationship between environmental investment and sustainable development in India. Therefore, in the paper, we aim to analyse the effect of an environmental investment on the sustainable development in India. Based on the economic data collected, India is in development status with fast population and GDP growth speed. India is facing the environment problems due to its high-speed development. However, the environment investment could give a positive impact on the sustainable development in India. The environmental investment is keeping in the same growth rate with GDP. Acknowledgment: Authors would like to thank the financial support from the Hong Kong Polytechnic University for this work.

Keywords: India, environmental investment, sustainable development, analysis

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Authors: Zulfikar Dinar Wahidayat Putra

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Water scarcity become a major challenge in an arid area. One of the arid areas is La Serena city in the Northern Chile which become a case study of this paper. Based on that, this paper tries to identify a sustainable water system by using urban harvest approach as a method to achieve water self-sufficiency for a neighborhood area in the La Serena city. By using the method, it is possible to create sustainable water system in the neighborhood area by reducing up to 38% of water demand and 94% of wastewater production even though water self-sufficient cannot be fully achieved, because of its dependency to the drinking water supply from water treatment plant of La Serena city.

Keywords: arid area, sustainable water system, urban harvest approach, self-sufficiency

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Authors: Ali Bakari Mohammed

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Transitioning is a continuous process of radical change in a society which involves co-evolution of institutional, technological, socio-cultural, and ecological developments at different scales and levels. Transition management model is a methodology that influences structural change of complex systems over a period (0-30 years) by experimenting and implementing new techniques. A transition management in the context of groundwater is a radical change from the current operate and control system to a next generation integrated and sustainable system that takes into account quality protection and sustained supply into the future. This study evaluates the transition management model in adopting it as a viable tool for the attainment of sustainable groundwater management. The outcome of the evaluation shows that there are three levels (strategic, tactical and operational) of operating the transition management model. At the strategic level, long-term goals for sustainable groundwater management are formulated, at the tactical level activities such as inter institutional networking, negotiation, planning and financing are carried out, and at the operational level, transition experiments and strategic niche management are carried out at the societal level. Overall, different actors and set of activities are required to partake at each management level. The outcome of this paper will provide basis for the implementation of the Sustainable Development Goal (SDG) 6 in Nigeria.

Keywords: transition management, groundwater, sustainable management, tool, Nigeria

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Authors: Tomola Obamuyi

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The banking system in Nigeria adopted innovative banking, with the aim of enhancing financial inclusion, and making financial services readily and cheaply available to majority of the people, and to contribute to the efficiency of the financial system. Some of the innovative services include: Automatic Teller Machines (ATMs), National Electronic Fund Transfer (NEFT), Point of Sale (PoS), internet (Web) banking, Mobile Money payment (MMO), Real-Time Gross Settlement (RTGS), agent banking, among others. The introduction of these payment systems is expected to increase bank efficiency and customers' satisfaction, culminating in better performance for the commercial banks. However, opinions differ on the possible effects of the various innovative payment systems on the performance of commercial banks in the country. Thus, this study empirically determines how commercial banks use innovation to gain competitive advantage in the specific context of Nigeria's finance and business. The study also analyses the effects of financial innovation on the performance of commercial banks, when different periods of analysis are considered. The study employed secondary data from 2009 to 2018, the period that witnessed aggressive innovation in the financial sector of the country. The Vector Autoregression (VAR) estimation technique forecasts the relative variance of each random innovation to the variables in the VAR, examine the effect of standard deviation shock to one of the innovations on current and future values of the impulse response and determine the causal relationship between the variables (VAR granger causality test). The study also employed the Multi-Criteria Decision Making (MCDM) to rank the innovations and the performance criteria of Return on Assets (ROA) and Return on Equity (ROE). The entropy method of MCDM was used to determine which of the performance criteria better reflect the contributions of the various innovations in the banking sector. On the other hand, the Range of Values (ROV) method was used to rank the contributions of the seven innovations to performance. The analysis was done based on medium term (five years) and long run (ten years) of innovations in the sector. The impulse response function derived from the VAR system indicated that the response of ROA to the values of cheques transaction, values of NEFT transactions, values of POS transactions was positive and significant in the periods of analysis. The paper also confirmed with entropy and range of value that, in the long run, both the CHEQUE and MMO performed best while NEFT was next in performance. The paper concluded that commercial banks would enhance their performance by continuously improving on the services provided through Cheques, National Electronic Fund Transfer and Point of Sale since these instruments have long run effects on their performance. This will increase the confidence of the populace and encourage more usage/patronage of these services. The banking sector will in turn experience better performance which will improve the economy of the country. Keywords: Bank performance, financial innovation, multi-criteria decision making, vector autoregression,

Keywords: Bank performance, financial innovation, multi-criteria decision making, vector autoregression

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Authors: Zhou Xiaowen China, Zhang Sanming China

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Neighbourhood space as a very important part of city spaces, is an organic combination of material environment and spiritual achievement in people’ daily life, and has a real impact upon the sustainable development of the whole city. Looking back on the past 2014 World Architecture Festival (WAF), 4 out of 35winning buildings were neighbourhood designs, and all of them mentioned about space-sharing and sustainable development. In this paper, three award-winning cases were studied, including the world building of the year—the chapel (Vietnam, A21 studio), The Carve (Norway, A-Lab) and House for Trees (Vietnam, Vo Trong Nghia Architects). Urban context, planning, space construction and sustainable technology were discussed. Based on those, it was discovered that passive energy-saving technologies have been paid more and more attention, sharing space has been designed ingeniously, and the architectural forms of them reflect social inclusion and equity. This paper is aimed at summarizing the excellent works on the Festival and providing reference for the future design.

Keywords: neighbourhood design, 2014 World Architecture Festival (WAF), sustainable development, space-sharing

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Authors: Samira Mahmoudkelayeh, Katayoun Taghizade, Mitra Pourvaziri, Elnaz Asadian

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Over the recent decades, depletion of resources and environmental concerns made researchers and practitioners present sustainable approaches. Since construction process consumes a great deal of both renewable and non-renewable resources, it is of great significance regarding environmental impacts. Choosing sustainable construction materials is a remarkable strategy presented in many researches and has a significant effect on building’s environmental footprint. This paper represents an assessment framework for selecting best sustainable materials for exterior enclosure in the city of Tehran based on sustainability principles (eco-friendly, cost effective and socio-cultural viable solutions). To perform a comprehensive analysis of environmental impacts, life cycle assessment, a cradle to grave approach is used. A questionnaire survey of construction experts has been conducted to determine the relative importance of criteria. Analytic Network Process (ANP) is applied as a multi-criteria decision-making method to choose sustainable material which consider interdependencies of criteria and sub-criteria. Finally, it prioritizes and aggregates relevant criteria into ultimate assessed score.

Keywords: sustainable materials, building, analytic network process, life cycle assessment

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Authors: Wong Kean Hin, Kumarason A. L. V. Rasiah

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A building provides shelter and protection for an individual to live, work, sleep, procreate or engage in leisurely activities comfortably. Currently, a very popular term related to building was often stated by many parties, which is sustainability. A sustainable building is environmental friendly, healthy to the occupants, as well as efficient in electricity and water. This particular research is important to any parties that are involved in the construction industry. This research will provide the awareness and acceptability of Malaysian public towards sustainable residential building. It will also provide the developers about which sustainable features that the people usually want so that the developers can build a sustainable housing that suits the needs of people. Then, propose solutions to solve the difficulties of implementing sustainability in Malaysian housing industry. Qualitative and quantitative research methods were used throughout the process of data collection. The quantitative research method was distribution of questionnaires to 100 Malaysian public and 50 individuals that worked in developer companies. Then, the qualitative method was an interview session with experienced personnel in Malaysian construction industry. From the data collected, there is increasingly Malaysian public and developers are aware about the existence of sustainability. Moreover, the public is willing to invest on sustainable residential building with minimum additional cost. However, there is a mismatch in between sustainable elements provided by developers and the public needs. Some recommendations to improve the progression of sustainability had been proposed in this study, which include laws enforcement, cooperation between the both government sector with private sector, and private sector with private sector, and learn from modern countries. These information will be helpful and useful for the future of sustainability development in Malaysia.

Keywords: acceptability, awareness, Malaysian housing industry, sustainable elements, green building index

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Authors: Ahmed S. Attia

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This paper includes a study of modern sustainable architectural techniques and elements that are originally found in vernacular and traditional architecture, particularly in the Arab region. Courtyards, Wind Catchers, and Mashrabiya, for example, are elements that have been developed in contemporary architecture using modern technology to create sustainable architecture designs. An analytical study of the topic will deal with some examples of the Islamic House in Fatimid Cairo city in Egypt, analyzing its elements and their relationship to the environment, in addition to the examples in southern Egypt (Nubba) of sustainable architecture systems, and traditional houses in Sana'a city, Yemen, using earth resources of mud bricks and other construction materials. In conclusion, a comparative study between traditional and contemporary techniques will be conducted to confirm that it is possible to achieve sustainable architecture through the use of low-technology in buildings in Arab regions.

Keywords: Islamic context, cultural environment, natural environment, Islamic house, low-technology, mud brick, vernacular and traditional architecture

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Authors: Albert T. Akume, Ankama G. Rosecana, Micheal Solomon

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Every citizen has rights that must be respected by others in the community. Ironically however, women in most communities are not accorded some of those rights as the male folks. This has not only facilitated their disempowerment but inhibited them from being treated with equal dignity that they deserve as their male counterpart; despite their valuable contribution to the society. Those forces against women empowerment are not limited to socio-cultural practices alone, but the character and nature of the state in Nigeria point to indicators of systemic and structural exclusion embedded in its framework. The consequence of this is that the vital contributions of women to sustainable community development have eluded many communities in Nigeria with adverse tell-tell signs on the environment. It is for this reason that the objective of this study is not only to highlight the causes and challenges associated with women disempowerment, but also to draw attention to the need to correct those anomaly against women in order to genuinely empower them to contribute to sustainable community development in Nigeria.

Keywords: capacity development, community, social sustainability, sustainable development, women empowerment

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Authors: Jijimon Alakkalam Joseph

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The UN 2030 Agenda for Sustainable Development claims to be a comprehensive and integrated plan of action for prosperity for people and the planet, including almost all dimensions of human existence. Nevertheless, critics have pointed out the exclusion of the religious dimension from development discussions. Care for the earth is one of the vital aspects of sustainable development. Farmers all over the world contribute much to environmental protection. Most farmers are religious believers, and religious ideologies influence their agricultural practices. This nexus between faith and agriculture has forced policymakers to include religion in development discussions. This paper delves deeper into this religion and sustainable development connection. Buddhism and Christianity have contributed much to environmental protection in Taiwan. However, interviews conducted among 40 Taiwanese farmers (10 male and female farmers from Buddhism and Christianity) show that their faith experiences make them relate to the natural environment differently. Most of the Buddhist farmers interviewed admitted that they chose their religious adherence, while most of the Christian farmers inherited their faith. The in-depth analysis of the interview data collected underlines the close relationship between religion and sustainable development. More importantly, concerning their intention to care for the earth, farmers whose religious adherence is ‘chosen’ are self-motivated and more robust compared to those whose religious adherence is ‘inherited’.

Keywords: Buddhism, Christianity, environmental protection, sustainable development

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Authors: Bassey Igri Okon, Gloria Mayen Umukoro

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The United Nations faces the formidable challenge of ensuring sustainable food provision for the world's burgeoning population, as outlined in Sustainable Development Goals 1 and 2. Predominantly, underdeveloped nations bear the brunt of hunger and poverty, lacking sustainable means of self-sustenance. A critical factor contributing to this dire situation is the underperformance of their agricultural sectors, ostensibly necessitating intervention from developed nations. This paper posits that the provision of Agricultural Aid has become a modern instrument of colonization. It unveils how developed countries, under the pretext of aid, perpetuate a neo-colonial dominance over underdeveloped nations. It is argued that unless these nations revert to indigenous farming methodologies and implement effective governance to enable sustainable agriculture, they are likely to remain entrapped in a relentless cycle of hunger, poverty, and economic subservience.

Keywords: aid autonomy, self-sufficiency, rethinking, neocolonialism, underdeveloped, indigenous farming

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Authors: Mahsaossadat Pourrahmati Khelejan

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The purpose of this research was to identify and prioritize the sustainable development of sports venues using new and degradable energies with using the AHP Hierarchical Analysis approach. The research method is a descriptive strategy with regard to the direction of implementation and is a hierarchical research with a practical purpose. In this study, 30 experts (physical education faculty members, geography professors, accredited sports venues managers, and renewable energy engineers) were selected using purposeful sampling method as the research population. The research tool was a researcher-made questionnaire on the factors affecting the sustainable development of sports venues by using new technologies and degradable energy. Finally, the research questionnaire was designed with four components and 21 items. All steps were performed by using Expert Choice software. The importance of indicators that influence the sustainable development of sports venues is highlighted by the use of clean and degradable energy, for example: 1. Economic factor, weighing 0.420 2. Environmental index, weighing 0. 320 3. Physical index, weighing 0.148 4. Social index, weighing 0.122.

Keywords: Sports Venues, Sustainable Development, Degradable Energies, Prioritize

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Authors: Aiydh Aljeddani, Fran Martin

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Sustainable human development is an essential component of a sustainable economic, social and environmental development. Addressing sustainable learning only through the addition of new teaching methods, or embedding certain approaches, is not sufficient on its own to support the goals of sustainable human development. This research project seeks to explore how the process of redesigning the current principles of curriculum based on the concept of sustainable learning could contribute to preparing a citizen who could later contribute towards sustainable human development. Multiple qualitative methodologies were employed in order to achieve the aim of this study. The main research methods were teachers’ field notes, artefacts, informal interviews (unstructured interview), a passive participant observation, a mini nominal group technique (NGT), a weekly diary, and weekly meeting. The study revealed that the integration of a curriculum for sustainable development, in addition to the use of innovative teaching approaches, highly valued by students and teachers in social studies’ sessions. This was due to the fact that it created a positive atmosphere for interaction and aroused both teachers and students’ interest. The content of the new curriculum also contributed to increasing students’ sense of shared responsibility through involving them in thinking about solutions for some global issues. This was carried out through addressing these issues through the concept of sustainable development and the theory of Thinking Activity in a Social Context (TASC). Students had interacted with sustainable development sessions intellectually and they also practically applied it through designing projects and cut-outs. Ongoing meetings and workshops to develop work between both the researcher and the teachers, and by the teachers themselves, played a vital role in implementing the new curriculum. The participation of teachers in the development of the project through working papers, exchanging experiences and introducing amendments to the students' environment was also critical in the process of implementing the new curriculum. Finally, the concept of sustainable learning can contribute to the learning outcomes much better than the current curriculum and it can better develop the learning objectives in educational institutions.

Keywords: redesigning, social studies and citizenship education curriculum, sustainable learning, thinking activity in a social context

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Authors: Vicx Farm

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This paper examines the critical role of energy efficiency management and renewable energy in fostering sustainable agricultural practices in Nigeria. With the growing concerns over energy security, environmental degradation, and climate change, there is an urgent need to transition towards more sustainable energy sources and practices in the agricultural sector. Nigeria, being a significant player in the global agricultural market, stands to benefit immensely from integrating energy efficiency measures and renewable energy solutions into its agricultural activities. This paper discusses the current energy challenges facing Nigerian agriculture, explores the potential benefits of energy efficiency and renewable energy adoption, and proposes strategies for effective implementation. The paper concludes with recommendations for policymakers, stakeholders, and practitioners to accelerate the adoption of energy-efficient and renewable energy technologies in Nigerian agriculture, thereby promoting sustainable development and resilience in the sector.

Keywords: energy, agriculture, sustainability, power

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Authors: S. Mazifah, A. Azahan, A. Kadir

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This paper aims to examine the relationship between the needs of ex-landfill redevelopment and the adequacy of open space provision in the context of sustainable urban development planning in Malaysia as seen from the perspective of the National Urban Policy. With a specific focus on the Action Plan DPN6 and DPN9, ex-landfill redevelopment needs and provision of open space are detailed to identify their potential and constraints in the development of sustainable cities. As a result, this paper found a link between the needs of urban ex-landfill redevelopment and approach to provide adequate urban open space. Through the proposal of the development of public park at urban ex-landfill sites, the needs of ex-landfill redevelopment and the adequacy of urban open space provision is being 'united' and translated as an approach to create a sustainable urban development in Malaysia.

Keywords: ex-landfill redevelopment, open spaces, National Urban Policy, sustainable urban development

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Authors: Zidane Abderrezzaq

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In contrast to recent successful developments in macro monetary policies, the modelling, measurement and management of systemic financial stability has remained problematical. Indeed, the focus of most effort has been on improving individual, rather than systemic, bank risk management; the Basel II objective has been to bring regulatory bank capital into line with the (sophisticated) banks’ assessment of their own economic capital. Even at the individual bank level there are concerns over appropriate diversification allowances, differing objectives of banks and regulators, the need for a buffer over regulatory minima, and the distinction between expected and unexpected losses (EL and UL). At the systemic level the quite complex and prescriptive content of Basel II raises dangers of ‘endogenous risk’ and procyclicality. Simulations suggest that this latter could be a serious problem. In an extension to the main analysis we study how liquidity effects interact with banking structure to produce a greater chance of systemic breakdown. We finally consider how the risk of contagion might depend on the degree of asymmetry (tiering) inherent in the structure of the banking system. A number of our results have important implications for public policy, which this paper also draws out.

Keywords: systemic stability, financial regulation, credit risk, systemic risk

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Authors: Hassan Kian

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The future of millions of people and consequently, the future of societies and humanity is threatened by a great threat which is called wasted human resources. Perhaps Pasteur, Beethoven and Avicenna, Lavoisier and Einstein and millions of genius individuals and thinkers may have never been discovered and could not found a chance of being known due to various reasons such as poverty or social status, and other problems. So without being able to serve humanity, their talents are fully wasted. While, if a global mechanism exists to discover their talents in different countries and provide to them the right direction, during less than a generation, human society will face to a profound transformation and sustainable social justice will be formed as the basis of sustainable development of human resources. Therefore, the situation of the institution which organizes the affair of discovering and guiding talents was vacant at the level of the international community and its necessity has been felt. So in this plan, the establishment and development of such an organization have been suggested in the international context.

Keywords: talent identification, comparative advantage, sustainable justice, sustainable development

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Authors: Mohamad Saifudin Mohamad Saleh

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This paper provides a discussion of the importance of sustainability education among the Malaysian media. Without doubt, media play a crucial role in promoting the sustainable or so called “eco-system” society for a better future. Since 2002, the role of media as one of the vital stakeholders particularly in educating the society in three main areas of sustainable education including on environment, economy and society has been clearly highlights on the World Summit for Sustainable Development (WSSD) that was held in Johannesburg. In this paper, six media practitioners from two local Malaysia newspapers organization were interviewed by the researcher in order to identify their understanding about sustainability education; their perception about the pivotal role in sustainability education and the challenges faced by them in the process of educating society about sustainability issues. The findings of this study showed that most of Malaysian media practitioners have displayed clear understanding about sustainability education and they also realize their huge responsibility for not only informing but also educating society in having a sustainable lifestyle. The ultimate challenge in sustainability education faced by the media is to make the public really understand the importance of sustainable lifestyle. Overall, from this study, it is hoped to provide more possible direction in sustainability education not only among the Malaysian media but also all media in the entire world, particularly the developing and Southeast Asian countries.

Keywords: media, sustainability education, Malaysia

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Authors: Aqeel Akhtar

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One of prevailing modes of finance in emerging Islamic banking system is Murabah’a; a financial transaction in which cost and profit both must be recognized by buyer. Otherwise the transaction would become invalid. In this mainstream, import Murabah’a transaction is divergent in such a way that the cost is not recognized and identified due to execution of import transaction in foreign currency i.e. US Dollar and the next transaction of Murabaha’a with the client is executed in local currency. Since this transaction is executed in dual currency i.e. bank pays supplier in foreign currency and executes Murabah’a with its client in local currency and it is not allowed in according to Islamic Injunctions as mentioned in hadith narrated by Hazrat Ibn-e-Umar (May Allah be pleased with them) used to sell his camels with Dirhams and take dinars instead and vice versa. Upon revealing before the Prophet (SAW), he was advised that it must not be contingent in the agreement and the ready rate would be applied and possession of one of the consideration is compulsory. The solution in this regard is that the import Murabah’a transaction should be in single currency, however, other currency can be paid in payment at the time of payment in a very indispensable situation provided that ready rate would be applied. Moreover, some of other solutions have also been given in this regard.

Keywords: shariah compliance, import murabaha, islamic banking, product development

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Authors: Parastoo Ahmadpoor

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Textile waste has become a significant environmental concern in recent years due to its adverse effects on ecosystems and human health. This manuscript presents a comprehensive overview of textile waste management, focusing on sustainable solutions for minimizing waste generation, promoting recycling and upcycling, and adopting circular economy principles. The manuscript explores the challenges and opportunities in textile waste management and highlights the importance of collaboration between stakeholders to achieve a more sustainable and responsible textile industry.

Keywords: textile waste, waste management, recycling, upcycling, circular economy, sustainability, environmental impact

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Authors: Innocent Felix Idoko

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The development of indigenous entrepreneurship is critical to the achievement of sustainable development in the internationalized economy. Sustainable development implies a continuous stimulus of growth and improvement of an economy in a fairly stable manner. The paradigms of a globalization are numerous to mention. However, to a great extent, these are trade-offs and dilemmas for indigenous entrepreneurship, particularly in the developing economies with infant industries that are essentially crucial to development. This paper analyses the pros and cons of globalization as relates to the complementary role of both foreign and indigenous entrepreneurs, the conflict of values between globalization and protectionism for local entrepreneurship. Using analytical and descriptive approach, the views of academicians, research fellows, literature reviews and both the theories of the mercantilists and those of free trade mainstream economists, and the G20, the paper concludes that there is a legitimate need for protectionism for domestic entrepreneurship in the developing economies as doing otherwise amount to stifling them.

Keywords: developing countries, entrepreneurship, globalization, infant-industries, protectionism, sustainable development

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Authors: P. Amarnath, Albert Thomas

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Buildings qualify to be the major consumer of energy and resources thereby urging the designers, architects and policy makers to place a great deal of effort in achieving and implementing sustainable building strategies in construction. Green building rating systems help a great deal in this by measuring the effectiveness of these strategies along with the escalation of building performance in social, environmental and economic perspective, and construct new sustainable buildings. However, for a country like India, enormous population and its rapid rate of growth impose an increasing burden on the country's limited and continuously degrading natural resource base, which also includes the land available for construction. In general, the number of sustainable rated buildings in India is very minimal primarily due to the complexity and obstinate nature of the assessment systems/regulations that restrict the stakeholders and designers in proper implementation and utilization of these rating systems. This paper aims to introduce a data driven and user-friendly framework which cross compares the present prominent green building rating systems such as LEED, BREEAM, and GRIHA and subsequently help the users to rate their proposed building design as per the regulations of these assessment frameworks. This framework is validated using the input data collected from green buildings constructed globally. The proposed system has prospects to encourage the users to test the efficiency of various sustainable construction practices and thereby promote more sustainable buildings in the country.

Keywords: BREEAM, GRIHA, green building rating systems, LEED, sustainable buildings

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Authors: Taiwo Frances Gbadegesin

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Children’s capacity to contribute to social and economic status of a nation has been given more recognition than ever. Global policy priority aimed at ensuring sustainable development has been extended to the developing nations of the world. However, many developing countries have continued to puzzle out the extent and possibilities of exploring sustainability within their socio-economic environment. This paper considers ways in which the theoretical framework of Dahlberg, Moss and Pence (1999; 2007) and Moss (2007; 2012) that embraces meaning-making, social construction of childhood experiences and democratic perspectives can be used to understand children’s capacity for building a sustainable future. This paper presents data collected through interviews and observations from ECCE teachers and children in Lagos, Nigeria. A distinct finding is that children’s participation in building sustainable future is a consequence of the knowledge of the workings of their social, economic and cultural nuances and not a matter of economic wealth per se. It further argues that sustainability is situated within a complex network of local and global contexts. It thus challenges the present neo-liberal approach and advocates a democratic approach to preparing children for a sustainable society. It concludes that sustainability cannot be built on what may be seen as decontextualized responses by relevant stakeholders to the needs and experiences of the “whole child”.

Keywords: children, ECCE, sustainable development, Nigeria

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Authors: Joanna Błach, Anna Doś, Maria Gorczyńska, Monika Wieczorek-Kosmala

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Financial innovations can be regarded as the cause and the effect of the evolution of the financial system. Most of financial innovations are created by various financial institutions for their own purposes and needs. However, due to their diversity, financial innovations can be also applied by various business entities (other than financial institutions). This paper focuses on the potential application of financial innovations by non-financial companies. It is assumed that financial innovations may be effectively applied in all fields of corporate financial decisions integrating financial management with the risk management process. Appropriate application of financial innovations may enhance the development of the company and increase its value by improving its financial situation and reducing the level of risk. On the other hand, misused financial innovations may become the source of extra risk for the company threatening its further operation. The main objective of the paper is to identify the major types of financial innovations offered to non-financial companies by the banking system in Poland. It also aims at identifying the main factors determining the creation of financial innovations in the banking system in Poland and indicating future directions of their development. This paper consists of conceptual and empirical part. Conceptual part based on theoretical study is focused on the determinants of the process of financial innovations and their application by the non-financial companies. Theoretical study is followed by the empirical research based on the analysis of the actual offer of the 20 biggest banks operating in Poland with regard to financial innovations offered to SMEs and large corporations. These innovations are classified according to the main functions of the integrated financial management, such as: Financing, investment, working capital management and risk management. Empirical study has proved that the biggest banks operating in the Polish market offer to their business customers many types and classes of financial innovations. This offer appears vast and adequate to the needs and purposes of the Polish non-financial companies. It was observed that financial innovations pertained to financing decisions dominate in the banks’ offer. However, due to high diversification of the offered financial innovations, business customers may effectively apply them in all fields and areas of integrated financial management. It should be underlined, that the banks’ offer is highly dispersed, which may limit the implementation of financial innovations in the corporate finance. It would be also recommended for the banks operating in the Polish market to intensify the education campaign aiming at increasing knowledge about financial innovations among business customers.

Keywords: banking products and services, banking sector in Poland, corporate financial management, financial innovations, theory of innovation

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Authors: Erina Wulansari, Bambang Soemardiono, Ispurwono Soemarno

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Designing sustainable tourism area is defined as an attempt to design an area, that brings the natural environmental conditions as components are available with a wealth of social conditions and the conservation of natural and cultural heritage. To understanding tourism area in this study is not only focus on the location of the tourist object, but rather to a tourist attraction around the area, tourism objects such as the existence of residential area (settlement), a commercial area, public service area, and the natural environmental area. The principle of success in designing a sustainable tourism area is able to integrate and balance between the limited space and the variety of activities that’s always continuously to growth up. The limited space in this area of tourism needs to be managed properly to minimize the damage of environmental as a result of tourism activities hue. This research aims to identify space in this area of tourism through land suitability approach as an effort to create a sustainable design, especially in terms of ecological. This study will be used several analytical techniques to achieve the research objectives as superimposing analysis with GIS 9.3 software and Analysis Hierarchy Process. Expected outcomes are in the form of classification and criteria of usable space in designing embodiment tourism area. In addition, this study can provide input to the order of settlement patterns as part of the environment in the area of sustainable tourism.

Keywords: sustainable tourism area, land suitability, limited space, environment, criteria

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Authors: Oluremi I. Bamgbade, Oluwayomi Babatunde

Abstract:

Governments and nonprofits have been in the support of sustainability as the goal of businesses especially in the construction industry because of its considerable impacts on the environment, economy, and society. However, to measure the degree to which an organisation is being sustainable or pursuing sustainable growth can be difficult as a result of the clear sustainability strategy required to assume their commitment to the goal and competitive advantage. This research investigated the influence of organisational culture and organisational structure in achieving sustainable construction among South African construction firms. A total of 132 consultants from the nine provinces in South Africa participated in the survey. The data collected were initially screened using SPSS (version 21) while Partial Least Squares Structural Equation Modeling (PLS-SEM) algorithm and bootstrap techniques were employed to test the hypothesised paths. The empirical evidence also supported the hypothesised direct effects of organisational culture and organisational structure on sustainable construction. Similarly, the result regarding the relationship between organisational culture and organisational structure was supported. Therefore, construction industry can record a considerable level of construction sustainability and establish suitable cultures and structures within the construction organisations. Drawing upon organisational control theory, these findings supported the view that these organisational internal factors have a strong contingent effect on sustainability adoption in construction project execution. The paper makes theoretical, practical and methodological contributions within the domain of sustainable construction especially in the context of South Africa. Some limitations of the study are indicated, suggesting opportunities for future research.

Keywords: organisational culture, organisational structure, South African construction firms, sustainable construction

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Authors: Jerome Nyameh

Abstract:

The most valuable asset in the existence of organization is the employees and their ability in maintain appreciable level of performance which support the goal of the organization and the ability to do that depend largely on the organizational culture and culture has been considered most currently as the factor that relate positively to organizational excellence and sustainable employee’s performance over the period of time An employee engagement program will not go far without first establishing the organizational culture that is required to support sustainability. This means integrating sustainability into the overall employee’s performance, with clear vision, goals and metrics. It means having strong culture and a collaborative governance structure that has been develop as a ways of doing things in the organization for decision making and resource allocation. It requires a rewards and recognition program to support and reinforce sustainability behaviors. With such a culture in place, organization will be able to develop a strategy that fully engages employees, while fully realizing the benefits of their contributions. The study investigated empirically the role of organizational culture building sustainable employee’s performance using Zenith bank PLC a model where organizational culture will build sustainable employees performance strategy for a lasting actualization of organizational was developed. In order to achieve the research objectives of (i) to assess how organizational culture can build sustainable employee’s performance (ii) to analyze the gap that exists between organizational culture and sustainable employee’s performance in the organization, a survey questionnaires of 20 items was administered to sixty respondents. The findings of this study have practical implications for organizational leaders, managers and employees, and their organizations, particularly commercial banks in Nigeria, besides offering scope for further research in the area of organizational culture and sustainable employee’s performance. It will also show a significance and positive relationship that exist between organizational culture and sustainable employee’s performance, as means of building viable organization with cultural uniqueness and excellence performance in the world of competition.

Keywords: organizational culture, sustainable employee’s performance, organizations, Zenith Bank PLC Nigeria

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Authors: Ratna Kuswardani

Abstract:

This paper aims to study the impact of recent Global Financial Crisis (GFC) on 6 selected emerging Asian economies (Indonesia, Malaysia, Thailand, Philippines, Singapore, and South Korea). We first figure out the contagion of GFC from the US and Europe to the selected emerging Asian countries by studying the tail dependence of market stock returns between those countries. We apply the concept of Extreme Value Theory (EVT) to model the dependence between multiple returns series of variables under examination. We explore the factors causing the contagion between the regions. We find dependencies between markets that are influenced by their size, especially for large markets in emerging Asian countries that tend to have a higher dependency to the market in the more advanced country such as the U.S. and some countries in Europe. The results also suggest that the dependencies between market returns and bank stock returns in the same region tend to be higher than dependencies between these returns across two different regions. We extend our analysis by studying the impact of GFC on the systemic in the banking system. We also find that larger institution has more dependencies with the market stock, suggesting that larger size bank can cause disruption in the market. Further, the higher probability of extreme loss can be seen during the crisis period, which is shown by the non-linear dependency between the pre-crisis and the post-crisis period. Finally, our analysis suggests that systemic risk appears in the domestic banking systems in emerging Asia, as shown by the extreme dependencies within banks in the system. Overall, our results provide caution to policy makers and investors alike on the possible contagion of the impact of global financial crisis across different markets.

Keywords: contagion, extreme value theory, global financial crisis, systemic risk

Procedia PDF Downloads 151