Search results for: green finance

Authors: Tatjana Jurić, Bojana Blagojević, Denis Uka, Ružica Ždero Pavlović, Boris M. Popović

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Natural deep eutectic solvents (NADES) represent a class of modern systems that have been developed as a green alternative to toxic organic solvents, which are commonly used as extraction media. It has been considered that hydrogen bonding is the main interaction leading to the formation of NADES. The aim of this study was phytochemical characterization and determination of the antioxidant and antibacterial activity of Mentha piperita leaf extracts obtained by six choline chloride-based NADES. NADES were prepared by mixing choline chloride with different hydrogen bond donors in 1:1 molar ratio following the addition of 30% (w/w) water. The mixtures were then heated (60 °C) and stirred (650 rpm) until the clear homogenous liquids were obtained. The Mentha piperita extracts were prepared by mixing 75 mg of peppermint leaves with 1 mL of NADES following by the heating and stirring (60 °C, 650 rpm) within 30 min. The content of six phenolics in extracts was determined using HPLC-PDA. The dominant compounds presented in peppermint leaves - rosmarinic acid and luteolin 7-O-glucoside, were extracted by NADES at a similar level as 70% ethanol. The microdilution method was applied to test the antibacterial activity of extracts. Compared with 70% ethanol, all NADES systems showed higher antibacterial activity towards Pseudomonas aeruginosa (Gram -), Staphylococcus aureus (Gram +), Escherichia coli (Gram -), and Salmonella enterica (Gram -), especially NADES containing organic acids. The majority of NADES extracts showed a better ability to neutralize DPPH radical than conventional solvent and similar ability to reduce Fe3+ to Fe2+ ions in FRAP assay. The obtained results introduce NADES systems as the novel, sustainable, and low-cost solvents with a variety of applications.

Keywords: antibacterial activity, antioxidant activity, green extraction, natural deep eutectic solvents, polyphenols

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Authors: Mohammadreza Hajialigol, Nargues Falahi Charkhabi, Fatemeh Shahryari, Saadat Sarikhani

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BACKGROUND AND OBJECTIVES Iran is the third producer of Persian walnut worldwide. However, its walnut trees have been under threat from decline during last decade. Walnut canker caused by B. nigrifluens and B. rubrifaciens was recorded in multiple regions of Iran. Furthermore, Brenneria rosae subsp. rosae and Gibbsiella quercinecans were recently recognized as responsible for walnut decline in northwestern Iran. This study aimed to identify the causal agent of walnut decline in Kermanshah and Isfahan. MATERIAL AND METHODS Symptomatic samples were collected from affected walnut trees of Kermanshah and Isfahan provinces. The pathogenicity of strains was proved on immature walnut fruits cv. ‘Hartley’ and young green twigs of two-year-old walnut seedling cv. ‘Chandler’. Pathogenic strains were subjected to conventional phenotypic tests. 16S rRNA, gyrB, and infB genes were partially amplified and sequenced. RESULTS Irregular longitudinal cankers and dark lesions were observed in the outer and inner bark, respectively. Twenty-four strains were isolated on EMB-agar media. Fourteen strains were able to cause necrosis and a dark-colored region in the mesocarp and on young green twigs around the inoculation site 14 and 30 days post-inoculation, respectively. Strains were able to hydrolyze Tween 20, Tween 80, gelatin and esculin, however, did not produce indole or urease. Pairwise comparison, the 16S rRNA gene nucleotide sequences of strain I2 were 100% identical with those of Rahnella victoriana FRB 225T. Moreover, a phylogenetic tree reconstructed based on the concatenated sequences of two housekeeping gene fragments, gyrB (601 bp) and infB (615 bp), revealed that the strains I2, I5, and KE6 were clustered with R. victoriana FRB 225T. CONCLUSION To the best of our knowledge, this is the first report of R. victoriana in association with walnut decline. This result is necessary to find resistant genotypes.

Keywords: emerging pathogens, Iran, juglans regia, MLSA

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Authors: Zafar Tabrez, Nizamuddin Khan

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Agriculture in India in the pre-green revolution period was mostly controlled by terrain, climate and edaphic factors. But after the introduction of innovative factors and technological inputs, green revolution occurred and agricultural scene witnessed great change. In the development of India’s agriculture, speedy, and extensive introduction of technological change is one of the crucial factors. The technological change consists of adoption of farming techniques such as use of fertilisers, pesticides and fungicides, improved variety of seeds, modern agricultural implements, improved irrigation facilities, contour bunding for the conservation of moisture and soil, which are developed through research and calculated to bring about diversification and increase of production and greater economic return to the farmers. The green revolution in India took place during late 60s, equipped with technological inputs like high yielding varieties seeds, assured irrigation as well as modern machines and implements. Initially the revolution started in Punjab, Haryana and western Uttar Pradesh. With the efforts of government, agricultural planners, as well as policy makers, the modern technocratic agricultural development scheme was also implemented and introduced in backward and marginal regions of the country later on. Agriculture sector occupies the centre stage of India’s social security and overall economic welfare. The country has attained self-sufficiency in food grain production and also has sufficient buffer stock. Our first Prime Minister, Jawaharlal Nehru said ‘everything else can wait but not agriculture’. There is still a continuous change in the technological inputs and cropping patterns. Keeping these points in view, author attempts to investigate extensively the mechanization of agriculture and the change by selecting western Trans-Ghaghara plain as a case study and block a unit of the study. It includes the districts of Gonda, Balrampur, Bahraich and Shravasti which incorporate 44 blocks. It is based on secondary sources of data by blocks for the year 1997 and 2007. It may be observed that there is a wide range of variations and the change in farm mechanization, i.e., agricultural machineries such as ploughs, wooden and iron, advanced harrow and cultivator, advanced thrasher machine, sprayers, advanced sowing instrument, and tractors etc. It may be further noted that due to continuous decline in size of land holdings and outflux of people for the same nature of works or to be employed in non-agricultural sectors, the magnitude and direction of agricultural systems are affected in the study area which is one of the marginalized regions of Uttar Pradesh, India.

Keywords: agriculture, technological inputs, farm mechanization, food production, cropping pattern

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Authors: Olga Shuvaeva, Tamara Romanova, Sergey Volynkin, Valentina Podolinnaya

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Green chemistry concept is focused on the prevention of environmental pollution caused by human activity. However, there are a lot of contaminated areas in the world which pose a serious threat to ecosystems in terms of their conservation. Therefore in accordance with the principles of green chemistry, it should not be forgotten about the need to clean these areas. Furthermore, the waste material often contains the valuable components, the extraction of which by traditional wet chemical technologies is inefficient both from the economic and environmental protection standpoint. Wherein, the plants may be successfully used to ‘scavenge’ a range of metals from polluted land sites in an approach allowing to carry out both of these processes – phytoremediation and phytomining in conjunction. The goal of the present work was to study bioaccumulation ability of floating macrophytes such as water hyacinth and pondweed toward Hg, Ba, Cd, Mo and Pb as pollutants in aquatic medium and terrestrial plants (birch, reed, and cane) towards gold and silver as valuable components. The peculiarity of ongoing research was that the plants grew under extreme conditions (pH of drainage and pore waters was about 2.5). The study was conducted at the territory of Ursk tailings (Southwestern Siberia, Russia) formed as a result of primary polymetallic ores cyanidation. The waste material is mainly presented (~80%) by pyrite (FeS₂) and barite (BaSO₄), the raw minerals included FeAsS, HgS, PbS, Ag₂S as minor ones. It has been shown that water hyacinth demonstrates high ability to accumulate different metals, and what is especially important – to remove mercury from polluted waters with BCF value more than 1000. As for the gold, its concentrations in reed and cane growing near the waste material were estimated as 500 and 900 μg∙kg⁻¹ respectively. It was also found that the plants can survive under extreme conditions of acidic environment and hence we can assume that there is a principal opportunity to use them for the valuable substances extraction from an area of the mining waste dumps burial.

Keywords: bioaccumulation, gold, heavy metals, mine tailing

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Authors: Sonal Gupta, Rakhi Bansal, Javed Ali, Reema Gabrani, Shweta Dang

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Nanoemulsions (NEs) and microemulsions (MEs) have been an attractive tool for encapsulation of both hydrophilic and lipophillic actives. Both these systems are composed of oil phase, surfactant, co-surfactant and aqueous phase. Depending upon the application and intended use, both oil-in-water and water-in-oil emulsions can be designed. NEs are fabricated using high energy methods employing less percentage of surfactant as compared to MEs which are self assembled drug delivery systems. Owing to the nanometric size of the droplets these systems have been widely used to enhance solubility and bioavailability of natural as well as synthetic molecules. The aim of the present study is to assess the effect of % age of surfactants on cell viability of Vero cells (African Green Monkeys’ Kidney epithelial cells) via MTT assay. Green tea catechin (Polyphenon 60) loaded ME employing low energy vortexing and NE employing high energy ultrasonication were prepared using same excipients (labrasol as oil, cremophor EL as surfactant and glycerol as co-surfactant) however, the % age of oil and surfactant needed to prepare the ME was higher as compared to NE. These formulations along with their excipients (oilME=13.3%, SmixME=26.67%; oilNE=10%, SmixNE=13.52%) were added to Vero cells for 24 hrs. The tetrazolium dye, 3-(4,5-dimethylthia/ol-2-yl)-2,5-diphi-iiyltclrazolium bromide (MTT), is reduced by live cells and this reaction is used as the end point to evaluate the cytoxicity level of a test formulation. Results of MTT assay indicated that oil at different percentages exhibited almost equal cell viability (oilME ≅ oilNE) while surfactant mixture had a significant difference in the cell viability values (SmixME < SmixNE). Polyphenon 60 loaded ME and its PlaceboME showed higher toxicity as compared to Polyphenon 60 loaded NE and its PlaceboNE that can be attributed to the higher concentration of surfactants present in MEs. Another probable reason for high % cell viability of Polyphenon 60 loaded NE might be due to the effective release of Polyphenon 60 from NE formulation that helps in the sustenance of Vero cells.

Keywords: cell viability, microemulsion, MTT, nanoemulsion, surfactants, ultrasonication

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Authors: Yaniv Knop, Alva Peled

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Over the past few years there has been a growing interest in the development of Portland Composite Cement, by partial replacement of the clinker with mineral additives. The motivations to reduce the clinker content are threefold: (1) Ecological - due to lower emission of CO2 to the atmosphere; (2) Economical - due to cost reduction; and (3) Scientific\Technology – improvement of performances. Among the mineral additives being used and investigated, limestone is one of the most attractive, as it is considered natural, available, and with low cost. The goal of the research is to develop green cement, by partial replacement of the clinker with limestone powder while improving the performances of the cement paste. This work studied blended cements with three limestone powder particle diameters: smaller than, larger than, and similarly sized to the clinker particle. Blended cement with limestone consisting of one particle size distribution and limestone consisting of a combination of several particle sizes were studied and compared in terms of hydration rate, hydration degree, and water demand to achieve normal consistency. The performances of these systems were also compared with that of the original cement (without added limestone). It was found that the ability to replace an active material with an inert additive, while achieving improved performances, can be obtained by increasing the packing density of the cement-based particles. This may be achieved by replacing the clinker with limestone powders having a combination of several different particle size distributions. Mathematical and physical models were developed to simulate the setting history from initial to final setting time and to predict the packing density of blended cement with limestone having different sizes and various contents. Besides the effect of limestone, as inert additive, on the packing density of the blended cement, the influence of the limestone particle size on three different chemical reactions were studied; hydration of the cement, carbonation of the calcium hydroxide and the reactivity of the limestone with the hydration reaction products. The main results and developments will be presented.

Keywords: packing density, hydration degree, limestone, blended cement

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Authors: Mattea Carmen Castrovilli, Antonella Cartoni

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Electrospray ionisation (ESI), a well-established technique widely used to produce ion beams of biomolecules in mass spectrometry (ESI-MS), can be used for ambient soft landing of enzymes on a specific substrate. In this work, we show how the ambient electrospray deposition (ESD) technique can be successfully exploited for manufacturing a promising, green-friendly electrochemical amperometric laccase-based biosensor with unprecedented reuse and storage performance. These biosensors have been manufactured by spraying a laccase solution of 2μg/μL at 20% of methanol on a commercial carbon screen printed electrode (C-SPE) using a custom ESD set-up. The laccase-based ESD biosensor has been tested against catechol compounds in the linear range 2-100 μM, with a limit of detection of 1.7 μM, without interference from cadmium, chrome, arsenic, and zinc and without any memory effects, but showing a matrix effect in lake and well water. The ESD biosensor shows enhanced performances compared to the ones fabricated with other immobilization methods, like drop-casting. Indeed, it retains 100% activity up to two months of storage at ambient conditions without any special care and working stability up to 63 measurements on the same electrode just prepared and 20 on a one-year-old electrode subjected to redeposition together with a 100% resistance to use of the same electrode in subsequent days. The ESD method is a one-step, environmentally friendly method that allows the deposition of the bio-recognition layer without using any additional chemicals. The promising results in terms of storage and working stability also obtained with the more fragile lactate oxidase enzyme suggest these improvements should be attributed to the ESD technique rather than to the bioreceptor, highlighting how the ESD could be useful in reducing pollution from disposable devices. Acknowledgment: The understanding at the molecular level of this promising biosensor by using different spectroscopies, microscopies and analytical techniques is the subject of our PRIN 2022 project ESILARANTE.

Keywords: reuse, storage performance, immobilization, electrospray deposition, biosensor, laccase, catechol detection, green chemistry

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Authors: C. B. Masera, M. Imprialou, L. Budd, C. Morton

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Even though signalised intersections are necessary for urban road traffic management, they can act as bottlenecks and disrupt traffic operations. Interrupted traffic flow causes congestion, delays, stop-and-go conditions (i.e. excessive acceleration/deceleration) and longer journey times. Vehicle and infrastructure connectivity offers the potential to provide improved new services with additional functions of assisting drivers. This paper focuses on one of the applications of vehicle-to-infrastructure communication namely Green Light Optimal Speed Advisory (GLOSA). To assess the effectiveness of GLOSA in the urban road network, an integrated microscopic traffic simulation framework is built into VISSIM software. Vehicle movements and vehicle-infrastructure communications are simulated through the interface of External Driver Model. A control algorithm is developed for recommending an optimal speed that is continuously updated in every time step for all vehicles approaching a signal-controlled point. This algorithm allows vehicles to pass a traffic signal without stopping or to minimise stopping times at a red phase. This study is performed with all connected vehicles at 100% penetration rate. Conventional vehicles are also simulated in the same network as a reference. A straight road segment composed of two opposite directions with two traffic lights per lane is studied. The simulation is implemented under 150 vehicles per hour and 200 per hour traffic volume conditions to identify how different traffic densities influence the benefits of GLOSA. The results indicate that traffic flow is improved by the application of GLOSA. According to this study, vehicles passed through the traffic lights more smoothly, and waiting times were reduced by up to 28 seconds. Average delays decreased for the entire network by 86.46% and 83.84% under traffic densities of 150 vehicles per hour per lane and 200 vehicles per hour per lane, respectively.

Keywords: connected vehicles, GLOSA, intelligent transport systems, vehicle-to-infrastructure communication

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Authors: Laura Santagostini, Vittoria Guglielmi

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The meaning of the word 'Nature' (literally 'that which is about to be born') has accompanied researchers throughout their study of the environment and has led to the design of technical means to improve the properties of the soil, modifying its structure and/or consistency, thus favouring the emergence and growth of plants. These include soil improvers, i.e. any substance, natural or synthetic, mineral or organic, capable of modifying and improving the chemical, physical, biological and mechanical properties and characteristics of the soil. In particular, GCSCs (Green Composted Soil Conditioners) are soil conditioners produced through a controlled process of transforming selected organic green waste materials, such as clippings from the maintenance of ornamental greenery, crop residues and other plant waste. The use of GCSC in horticulture, fruit growing, industrial cultivation and nursery gardening is an active way to return organic carbon to the soil, thus limiting CO2 emissions and the production of greenhouse gases, and also to limit the environmental impact of peat extraction, which is normally used in these areas of application. With a view to distinguish between GCSC and peats and to assess what further contributions GCSC can provide to the soil and growing plants, we studied the behaviour of the two substrates by chromatographic techniques. After treating the individual soil improvers with different solvents, used individually or by applying a polarity gradient, the extracts obtained were analysed by HPLC and LCMS in order to assess their composition mainly from a qualitative point of view. Data obtained show in GCSC the presence of polyphenolic derivatives attributable to the degradation of plant material and potentially useful for the development and growth of young plants, while commercial peat-based products only sporadically showed the presence of recognisable molecules, confirming the lower complexity of the matrix under analysis. These results allowed us to distinguish the two different types of soil conditioner based on their chromatographic profiles.

Keywords: chromatographic profile, HPLC, polyphenols, soil conditioners

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Authors: Jihene Jebeniani

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We proposed an approach combining both the techniques of experimental economy and the flexibility of discrete choice models in order to test the loss aversion. Our main objective was to test the loss aversion of the Cumulative Prospect Theory (CPT). We developed an experimental laboratory in the context of the financial investments that aimed to analyze the attitude towards the risk of the investors. The study uses the lotteries and is basing on econometric modeling. The estimated model was the ordered probit.

Keywords: risk aversion, behavioral finance, experimental economic, lotteries, cumulative prospect theory

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Authors: Mohamed Boly

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This paper investigates the link between foreign aid and environmental protection, specifically CO2 emissions, in aid recipient countries. Conflicting results exist in the literature regarding the environmental impact of foreign aid. We come to reconcile them, using Project-Level Aid Data with environment codes, over the 1980- 2010 period. The disaggregation of aid according to the environmental codes, show why the results of previous literature remain very mixed. Moreover, we find that the effect of environmental aid is conditioned by some specific characteristics of the recipient country, independently of the donor.

Keywords: foreign aid, green aid, interactive effects, pollution

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Authors: Liang-Chien Lee, Chih-Hsiang Chang, Ying-Shu Tseng

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Comparing with prior studies mainly focused on the effect of a certain event (it may be the initial announcement of bad news or the repeated announcements of identical bad news) on stock price, the aim of this study is to explore how investors react to subsequent bad news with identical content. Empirical results show that as a result of behavioral pitfalls, investors underreact to the initial announcement of the bad news (i.e., unknown bad news) and overreact to the repeated announcements of the identical bad news (i.e., known bad news).

Keywords: subsequent bad news, behavioral finance, Investors’ misreaction, behavioral pitfalls

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Authors: L. P. Gomes, G. F. Araújo, Y. M. L. Cordeiro, C. T. Andrade, E. M. Del Aguila, V. M. F. Paschoalin

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The application of nanoscale materials and nanostructures is an emerging area, these since materials may provide solutions to technological and environmental challenges in order to preserve the environment and natural resources. To reach this goal, the increasing demand must be accompanied by 'green' synthesis methods. Chitosan is a natural, nontoxic, biopolymer derived by the deacetylation of chitin and has great potential for a wide range of applications in the biological and biomedical areas, due to its biodegradability, biocompatibility, non-toxicity and versatile chemical and physical properties. Chitosan also presents high antimicrobial activities against a wide variety of pathogenic and spoilage microorganisms. Ultrasonication is a common tool for the preparation and processing of polymer nanoparticles. It is particularly effective in breaking up aggregates and in reducing the size and polydispersity of nanoparticles. High-intensity ultrasonication has the potential to modify chitosan molecular weight and, thus, alter or improve chitosan functional properties. The aim of this study was to evaluate the influence of sonication intensity and time on the changes of commercial chitosan characteristics, such as molecular weight and its potential antibacterial activity against Gram-negative bacteria. The nanoparticles (NPs) were produced from two commercial chitosans, of medium molecular weight (CS-MMW) and low molecular weight (CS-LMW) from Sigma-Aldrich®. These samples (2%) were solubilized in 100 mM sodium acetate pH 4.0, placed on ice and irradiated with an ultrasound SONIC ultrasonic probe (model 750 W), equipped with a 1/2" microtip during 30 min at 4°C. It was used on constant duty cycle and 40% amplitude with 1/1s intervals. The ultrasonic degradation of CS-MMW and CS-LMW were followed up by means of ζ-potential (Brookhaven Instruments, model 90Plus) and dynamic light scattering (DLS) measurements. After sonication, the concentrated samples were diluted 100 times and placed in fluorescence quartz cuvettes (Hellma 111-QS, 10 mm light path). The distributions of the colloidal particles were calculated from the DLS and ζ-potential are measurements taken for the CS-MMW and CS-LMW solutions before and after (CS-MMW30 and CS-LMW30) sonication for 30 min. Regarding the results for the chitosan sample, the major bands can be distinguished centered at Radius hydrodynamic (Rh), showed different distributions for CS-MMW (Rh=690.0 nm, ζ=26.52±2.4), CS-LMW (Rh=607.4 and 2805.4 nm, ζ=24.51±1.29), CS-MMW30 (Rh=201.5 and 1064.1 nm, ζ=24.78±2.4) and CS-LMW30 (Rh=492.5, ζ=26.12±0.85). The minimal inhibitory concentration (MIC) was determined using different chitosan samples concentrations. MIC values were determined against to E. coli (106 cells) harvested from an LB medium (Luria-Bertani BD™) after 18h growth at 37 ºC. Subsequently, the cell suspension was serially diluted in saline solution (0.8% NaCl) and plated on solid LB at 37°C for 18 h. Colony-forming units were counted. The samples showed different MICs against E. coli for CS-LMW (1.5mg), CS-MMW30 (1.5 mg/mL) and CS-LMW30 (1.0 mg/mL). The results demonstrate that the production of nanoparticles by modification of their molecular weight by ultrasonication is simple to be performed and dispense acid solvent addition. Molecular weight modifications are enough to provoke changes in the antimicrobial potential of the nanoparticles produced in this way.

Keywords: antimicrobial agent, chitosan, green production, nanoparticles

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Authors: Luz del Carmen Rubí Félix Peña, Jose Adan Felix-Ortiz, Ely Sara Lopez-Alvarez, Wenceslao Valenzuela-Quiñonez

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On a global scale, Mexico is the sixth largest producer of farmed white shrimp (Penaeus vannamei). The activity suffered significant economic losses due to acute hepatopancreatic necrosis (AHPND) caused by a strain of Vibrio parahaemolyticus. For control, the first option is the application of antibiotics in food, causing changes in the environment and bacterial communities, which has produced greater virulence and resistance of pathogenic bacteria. An alternative treatment is silver nanoparticles (AgNPs) generated by green synthesis, which have shown an antibacterial capacity by destroying the cell membrane or denaturing the cell. However, the doses at which these are effective are still unknown. The aim is to calculate the minimum inhibitory concentration (MIC) using the Gompertz, Richard, and Logistic model of biosynthesized AgNPs against a strain of V. parahaemolyticus. Through the testing of different formulations of AgNPs synthesized from Euphorbia prostrate (Ep) extracts against V. parahaemolyticus causing AHPND in white shrimp. Aqueous and ethanol extracts were obtained, and the concentration of phenols and flavonoids was quantified. In the antibiograms, AgNPs were formulated in ethanol extracts of Ep (20 and 30%). The inhibition halo at well dilution test were 18±1.7 and 17.67±2.1 mm against V. parahaemolyticus. A broth microdilution was performed with the inhibitory agents (aqueous and ethanolic extracts and AgNPs) and 20 μL of the inoculum of V. parahaemolyticus. The MIC for AgNPs was 6.2-9.3 μg/mL and for ethanol extract of 49-73 mg/mL. The Akaike index (AIC) was used to choose the Gompertz model for ethanol extracts of Ep as the best data descriptor (AIC=204.8, 10%; 45.5, 20%, and 204.8, 30%). The Richards model was at AgNPs ethanol extract with AIC=-9.3 (10%), -17.5 (20 and 30%). The MIC calculated for EP extracts with the modified Gompertz model were 20 mg/mL (10% and 20% extract) and 40 mg/mL at 30%, while Richard was winner for AgNPs-synthesized it was 5 μg/mL (10% and 20%) and 8 μg/mL (30%). The solver tool Excel was used for the calculations of the models and inhibition curves against V.parahaemolyticus.

Keywords: green synthesis, euphorbia prostata, phenols, flavonoids, bactericide

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Authors: Shady S. Hassan, Brijesh K. Tiwari, Gwilym A. Williams, Amit K. Jaiswal

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Waste materials from a wide range of agro-industrial processes may be used as substrates for microbial growth, and subsequently the production of a range of high value products and bioenergy. In addition, utilization of these agro-residues in bioprocesses has the dual advantage of providing alternative substrates, as well as solving their disposal problems. Spent coffee grounds (SCG) are a by-product (45%) of coffee processing. SCG is a lignocellulosic material, which is composed mainly of cellulose, hemicelluloses, and lignin. Thus, a pretreatment process is required to facilitate an efficient enzymatic hydrolysis of such carbohydrates. In this context, microwave pretreatment of lignocellulosic biomass without the addition of harsh chemicals represents a green technology. Moreover, microwave treatment has a high heating efficiency and is easy to implement. Thus, microwave pretreatment of SCG without adding of harsh chemicals investigated as a green technology to enhance enzyme hydrolysis. In the present work, microwave pretreatment experiments were conducted on SCG at varying power levels (100, 250, 440, 600, and 1000 W) for 60 s. By increasing microwave power to a certain level (which vary by varying biomass), reducing sugar increases, then reducing sugar from biomass start to decrease with microwave power increase beyond this level. Microwave pretreatment of SCG at 60s followed by enzymatic hydrolysis resulted in total reducing sugars of 91.6 ± 7.0 mg/g of biomass (at microwave power of 100 w). Fourier transform Infrared Spectroscopy (FTIR) was employed to investigate changes in functional groups of biomass after pretreatment, while high-performance liquid chromatography (HPLC) was employed for determination of glucose. Pretreatment of lignocellulose using microwave was found to be an effective and energy efficient technology to improve saccharification and glucose yield. Energy performance will be evaluated for the microwave pretreatment, and the enzyme hydrolysate will be used as media component substitute for the production of ethanol and other high value products.

Keywords: lignocellulose, microwave, pretreatment, spent coffee grounds

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Authors: Lucia Steenkamp, Chris V. D. Westhuyzen, Kgama Mathiba

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Ambergris, and more specifically its oxidation product (–)-ambrafuran, is a scarce, valuable, and sought-after perfumery ingredient. The material is used as a fixative agent to stabilise perfumes in formulations by reducing the evaporation rate of volatile substances. Ambergris is a metabolic product of the sperm whale (Physeter macrocephatus L.), resulting from intestinal irritation. Chemically, (–)-ambrafuran is produced from the natural product sclareol in eight synthetic steps – in the process using harsh and often toxic chemicals to do so. An overall yield of no more than 76% can be achieved in some routes, but generally, this is lower. A new 'green' route has been developed in our laboratory in which sclareol, extracted from the Clary sage plant, is converted to (–)-ambrafuran in two steps with an overall yield in excess of 80%. The first step uses a microorganism, Hyphozyma roseoniger, to bioconvert sclareol to an intermediate diol using substrate concentrations up to 50g/L. The yield varies between 90 and 67% depending on the substrate concentration used. The purity of the diol product is 95%, and the diol is used without further purification in the next step. The intermediate diol is then cyclodehydrated to the final product (–)-ambrafuran using a zeolite, which is not harmful to the environment and is readily recycled. The yield of the product is 96%, and following a single recrystallization, the purity of the product is > 99.5%. A preliminary LC-MS study of the bioconversion identified several intermediates produced in the fermentation broth under oxygen-restricted conditions. Initially, a short-lived ketone is produced in equilibrium with a more stable pyranol, a key intermediate in the process. The latter is oxidised under Norrish type I cleavage conditions to yield an acetate, which is hydrolysed either chemically or under lipase action to afford the primary fermentation product, an intermediate diol. All the intermediates identified point to the likely CYP450 action as the key enzyme(s) in the mechanism. This invention is an exceptional example of how the power of biocatalysis, combined with a mild, benign chemical step, can be deployed to replace a total chemical synthesis of a specific chiral antipode of a commercially relevant material.

Keywords: ambrafuran, biocatalysis, fragrance, microorganism

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Authors: Oyatayo Kehinde Taofik, Ndabula Christopher

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Drainage basins are a central theme in the green economy. The rising challenges in flooding, erosion or sediment transport and sedimentation threaten the green economy. This has led to increasing emphasis on quantitative analysis of drainage basin parameters for better understanding, estimation and prediction of fluvial responses and, thus associated hazards or disasters. This can be achieved through direct measurement, characterization, parameterization, or modeling. This study applied the Remote Sensing and Geographic Information System approach of parameterization and characterization of the morphometric variables of Katsina – Ala basin using a 30 m resolution Shuttle Radar Topographic Mission (SRTM) Digital Elevation Model (DEM). This was complemented with topographic and hydrological maps of Katsina-Ala on a scale of 1:50,000. Linear, areal and relief parameters were characterized. The result of the study shows that Ala and Udene sub-watersheds are 4th and 5th order basins, respectively. The stream network shows a dendritic pattern, indicating homogeneity in texture and a lack of structural control in the study area. Ala and Udene sub-watersheds have the following values for elongation ratio, circularity ratio, form factor and relief ratio: 0.48 / 0.39 / 0.35/ 9.97 and 0.40 / 0.35 / 0.32 / 6.0. They also have the following values for drainage texture and ruggedness index of 0.86 / 0.011 and 1.57 / 0.016. The study concludes that the two sub-watersheds are elongated, suggesting that they are susceptible to erosion and, thus higher sediment load in the river channels, which will dispose the watersheds to higher flood peaks. The study also concludes that the sub-watersheds have a very coarse texture, with good permeability of subsurface materials and infiltration capacity, which significantly recharge the groundwater. The study recommends that efforts should be put in place by the Local and State Governments to reduce the size of paved surfaces in these sub-watersheds by implementing a robust agroforestry program at the grass root level.

Keywords: erosion, flood, mitigation, morphometry, watershed

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Authors: Qiuying Li, Fan Chen

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It is a shared opinion that sustainable development requires continuously updated, meaning that apparent changes in the way we usually produce our buildings are strongly needed. In China’s construction field, the associated environmental, health problems are quite prominent.Especially low sustainable performance (as opposed to Green creation) flooding the real estate boom and high-speed urban and rural urbanization. Currently, we urgently need to improve the existing design basis,objectives,scope and procedures,optimization design portfolio.More new evaluation system designed to facilitate the building to enhance the overall level.

Keywords: design for sustainability, design and materials, ecomaterials, sustainable architecture and urban design

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Authors: Massimo Ferrari, Maria Sole Pagliari

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Pollution is a classic example of economic externality: agents who produce it do not face direct costs from emissions. Therefore, there are no direct economic incentives for reducing pollution. One way to address this market failure would be directly taxing emissions. However, because emissions are global, governments might as well find it optimal to wait let foreign countries to tax emissions so that they can enjoy the benefits of lower pollution without facing its direct costs. In this paper, we first document the empirical relation between pollution and economic output with static and dynamic regression methods. We show that there is a negative relation between aggregate output and the stock of pollution (measured as the stock of CO₂ emissions). This relationship is also highly non-linear, increasing at an exponential rate. In the second part of the paper, we develop and estimate a two-country, two-sector model for the US and the euro area. With this model, we aim at analyzing how the public sector should respond to higher emissions and what are the direct costs that these policies might have. In the model, there are two types of firms, brown firms (which produce a polluting technology) and green firms. Brown firms also produce an externality, CO₂ emissions, which has detrimental effects on aggregate output. As brown firms do not face direct costs from polluting, they do not have incentives to reduce emissions. Notably, emissions in our model are global: the stock of CO₂ in the economy affects all countries, independently from where it is produced. This simplified economy captures the main trade-off between emissions and production, generating a classic market failure. According to our results, the current level of emission reduces output by between 0.4 and 0.75%. Notably, these estimates lay in the upper bound of the distribution of those delivered by studies in the early 2000s. To address market failure, governments should step in introducing taxes on emissions. With the tax, brown firms pay a cost for polluting hence facing the incentive to move to green technologies. Governments, however, might also adopt a beggar-thy-neighbour strategy. Reducing emissions is costly, as moves production away from the 'optimal' production mix of brown and green technology. Because emissions are global, a government could just wait for the other country to tackle climate change, ripping the benefits without facing any costs. We study how this strategic game unfolds and show three important results: first, cooperation is first-best optimal from a global prospective; second, countries face incentives to deviate from the cooperating equilibria; third, tariffs on imported brown goods (the only retaliation policy in case of deviation from the cooperation equilibrium) are ineffective because the exchange rate would move to compensate. We finally study monetary policy under when costs for climate change rise and show that the monetary authority should react stronger to deviations of inflation from its target.

Keywords: climate change, general equilibrium, optimal taxation, monetary policy

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Authors: Dalma Varga, Nora Hubayne H.

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Nowadays, among the measures taken to offset the consequences of climate change, water resources management is one of the key tools, which can include excess water management. As a result of climate change’s effects and as a result of the frequent inappropriate landuse, more and more areas are affected by the excess water inundation. Hungary is located in the deepest part of the Pannonian Basin, which is exposed to water damage – especially lowland areas that are endangered by floods or excess waters. The periodical presence of excess water creates specific habitats in a given area, which have ecological, functional, and aesthetic values. Excess water inundation affects approximately 74% of Hungary’s lowland areas, of which about 46% is also under nature protection (such as national parks, protected landscape areas, nature conservation areas, Natura 2000 sites, etc.). These data prove that areas exposed to excess water inundation – which are predominantly characterized by agricultural land uses – have an important ecological role. Other research works have confirmed the presence of numerous rare and endangered plant species in drainage canals, on grasslands exposed to excess water, and on special agricultural fields with mud vegetation. The goal of this research is to define and analyze ecosystem services of areas exposed to excess water inundation. In addition to this, it is also important to determine the quantified indicators of these areas’ natural and landscape values besides the presence of protected species and the naturalness of habitats, so all in all, to analyze the various nature protections related to excess water. As a result, a practice-orientated assessment method has been developed that provides the ecological water demand, assimilates to ecological and habitat aspects, contributes to adaptive excess water management, and last but not least, increases or maintains the share of the green infrastructure network. In this way, it also contributes to reduce and mitigate the negative effects of climate change.

Keywords: ecosystem services, landscape architecture, excess water management, green infrastructure planning

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Authors: Theodora-Venetia Missirli, Konstantina Kyriakopoulou, Magdalini Krokida

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Olive mill solid waste is an olive oil mill industry by-product with high phenolic, lipid and organic acid concentrations that can be used as a low cost source of natural antioxidants. In this study, extracts of Olea europaea (olive tree) solid olive mill waste (SOMW) were evaluated in terms of their antiradical activity and total phenolic compounds concentrations, such as oleuropein, hydroxytyrosol etc. SOMW samples were subjected to drying prior to extraction as a pretreatment step. Two drying processes, accelerated solar drying (ASD) and air-drying (AD) (at 35, 50, 70°C constant air velocity of 1 m/s), were applied. Subsequently, three different extraction methods were employed to recover extracts from untreated and dried SOMW samples. The methods include the green Microwave Assisted (MAE) and Ultrasound Assisted Extraction (UAE) and the conventional Soxhlet extraction (SE), using water and methanol as solvents. The efficiency and selectivity of the processes were evaluated in terms of extraction yield. The antioxidant activity (AAR) and the total phenolic content (TPC) of the extracts were evaluated using the DPPH assay and the Folin-Ciocalteu method, respectively. The results showed that bioactive content was significantly affected by the extraction technique and the solvent. Specifically, untreated SOMW samples showed higher performance in the yield for all solvents and higher antioxidant potential and phenolic content in the case of water. UAE extraction method showed greater extraction yields than the MAE method for both untreated and dried leaves regardless of the solvent used. The use of ultrasound and microwave assisted extraction in combination with industrially applied drying methods, such as air and solar drying, was feasible and effective for the recovery of bioactive compounds.

Keywords: antioxidant potential, drying treatment, olive mill pomace, microwave assisted extraction, ultrasound assisted extraction

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Authors: Abobkar Abrahem Mohamed Saad, Asma Abud Alsalam

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Closed flowers of Maerua crassifolia were cultured on Murashige and Skoog medium supplemented with benzyl amino purine BA (1.0 mg/l). The colour of flowers changed from green to pale brown after one week. They opened after two weeks. The anthers became clear which was observed after 3 weeks. Calluses are induced from sepals after one month. 19 anthers were observed with average length of 1.9 cm. The amount of calluses increased after 40 days. These calluses were fragmented and subcultured on MS+ 2-4D (1.0 mg/l) in order to increase growth.

Keywords: in vitro, Maerua, flowers, culture

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Authors: Rajkumar Ghosh

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India faces a critical task of water shortage, specifically during dry seasons, which adversely impacts agricultural productivity and food protection. Natural farming, specializing in sustainable practices, demands green water management in smart cities in India. This paper examines how rooftop rainwater harvesting (RRWH) can alleviate water scarcity and support sustainable organic farming practices in India. RRWH emerges as a promising way to increase water availability for the duration of dry intervals and decrease reliance on traditional water sources in smart cities. The look at explores the capacity of RRWH to enhance water use performance, help crop growth, enhance soil health, and promote ecological stability inside the farming ecosystem. The medical paper delves into the advantages, challenges, and implementation techniques of RRWH in organic farming. It addresses demanding situations, including seasonal variability of rainfall, limited rooftop vicinity, and monetary concerns. Moreover, it analyses broader environmental and socio-economic implications of RRWH for sustainable agriculture, emphasizing water conservation, biodiversity protection, and the social properly-being of farming communities. The belief underscores the importance of RRWH as a sustainable solution for reaching the aim of sustainable agriculture in natural farming in India. It emphasizes the want for further studies, policy advocacy, and capacity-building initiatives to promote RRWH adoption and assist the transformation in the direction of sustainable organic farming systems. The paper proposes adaptive strategies to triumph over demanding situations and optimize the advantages of RRWH in organic farming. By way of doing so, India can make vast development in addressing water scarcity issues and making sure a greater resilient and sustainable agricultural future in smart cities.

Keywords: rooftop rainwater harvesting, organic farming, green water management, food protection, ecological stabilty

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Authors: Shabina Khan, Rukhsana Tabassum Syeda

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Islamic banking is a finance system based on the principles of Shariah law. Charging interest is prohibited in Islam. Instead of charging interest the lender shares some part of profit or loss with the borrower, there is a great need for Islamic banking after the collapse of leading Wall Street institutions notably Lehman Brothers and other global finance institution, economic recession, Islamic banking have emerged as an alternative to conventional banking. Islamic banking is growing at the rate of more than 15% not only in Muslim countries, but also in secular and modern industrialized countries like U.K. Japan, France, Singapore, Hongkong. India with a total population of about 184 million about $ 1.5% Muslim deposit interest is lying unclaimed in different Indian banks, as there are no banks based on shariah laws approved by the RBI. When we take the example of Kerala state in India, almost 26.2% population is Muslim. Thus thousands of crore of rupees earned in interest is suspended accounts. In Kerala alone Rs. 40,000 crore and in Jammu and Kashmir Rs. 50,000 crore as interest earned on deposit of Muslim are lying unclaimed. By 2050, Indian Muslim population would be the largest in the world. It will surpass Indonesia. The Muslim population is likely to exceed 18% i.e. 310 mn. Muslim population will increase four percentage points from 14% to 18%. This paper studies the problems and prospects of Islamic banking in India. India has 29 states and Maharashtra is one of them. In the Maharashtra state is Aurangabad district. According to census 2011, Aurangabad city population is 51.07% is Hindu .Muslim is the second most popular religion with approximately 30.79. There are branches of Islamic banking run by Anjuman e Islam in many parts of India by the name of Al- Khair Baitul Mal which is a nongovernment organization. Its branch is in Aurangabad. The main objectives of this study are: 1. To find the scope of Islamic banking. 2. To study and analyze the prospects and problems of such organizations in Aurangabad district. 3. To create awareness about Islamic banking. 4. To study the functions of the organizations based on Islamic banking rules. 5. To encourage non-Muslims to invest in Islamic banking. The methodology used will be primary as well as secondary data. This is helping the weaker section of the society to obtain sources for trade and business. This paper finds that there is sufficient scope of Islamic banking in the region.

Keywords: Aurangabad, conventional banking, Islamic banking, Riba (interest)

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Authors: Yazdan Moradi

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Spirulina platensis is a blue-green microalga with unique nutrient content and has many nutritional and therapeutic effects that are used to enrich various foods. The purpose of this research was to investigate the effect of Spirulina platensis microalgae on the nutritional value and sensory and physical properties of four different cereal-based products. For this purpose, spirulina microalgae dry powder with amounts of 0.25, 0.5, 0.75, and 1 is added to the formula of pasta, bulk bread, layered sweets, and cupcakes. A sample without microalgae powder of each product is also considered as a control. The results showed that adding Spirulina powder to the formulation of selected foods significantly changed the nutrition value and sensory and physical characteristics. Comparison to control protein increased in the samples containing spirulina powder. The increase in protein was about 1, 0.6, 1.2 and 1.1 percent in bread, cake, layered sweets and Pasta, respectively. The iron content of samples, including Spirulina, also increased. The increase was 0.6, 2, 5 and 18 percent in bread, cake, layered sweets and Pasta respectively. Sensory evaluation analysis showed that all products had an acceptable acceptance score. The instrumental analysis of L*, a*, and b* color indices showed that the increase of spirulina caused green color in the treatments, and this color change is more significant in the bread and pasta samples. The results of texture analysis showed that adding spirulina to selected food products reduces the hardness of the samples. No significant differences were observed in fat content in samples, including spirulina samples and control. However, fatty acid content and a trace amount of EPA found in samples included 1% spirulina. Added spirulina powder to food ingredients also changed the amino acid profile, especially essential amino acids. An increase of histidine, isoleucine, leucine, tryptophan, and valine in samples, including Spirulina was observed.

Keywords: spirulina, nutrition, Alge, iron, food

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Authors: Long Zhang, Ian Hampson, Loretta O' Donnell

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Practitioners in various industries, especially in the finance industry that conventionally benefit from financial capital and resources, appear to be increasingly aware of the importance of human capital resources (HCR) after the 2008 Global Financial Crisis. Scholars from diverse fields have conducted extensive and fruitful research on HCR within their own disciplines. This review suggests that the mainstream of pure quantitative research alone is insufficient to provide precise or comprehensive understanding of HCR. The complex relationships and interactions in HCR call for more integrative and cross-disciplinary research to more holistically understand complex and intricate HCRs. The complex nature of HCR requires deep qualitative exploration based on in-depth data to capture the everydayness of organizational activities and to register its individuality and variety. Despite previous efforts, a systematic and holistic integration of HCR research among multiple disciplines is lacking. Using a retrospective analysis of articles published in the field of economics, finance and management, including psychology, human resources management (HRM), organizational behaviour (OB), industrial and organizational psychology (I-O psychology), organizational theory, and strategy literatures, this study summaries and compares the major perspectives, theories, and findings on HCR research. A careful examination of the progress of the debates of HCR definitions and measurements in distinct disciplines enables an identification of the limitations and gaps in existing research. It enables an analysis of the interplay of these concepts, as well as that of the related concepts of intellectual capital, social capital, and Chinese guanxi, and how they provide a broader perspective on the HCR-related influences on firms’ competitive advantage. The study also introduces the themes of Environmental, Social and Governance, or ESG based investing, as the burgeoning body of ESG studies illustrates the rising importance of human and non-financial capital in investment process. The ESG literature locates HCR into a broader research context of the value of non-financial capital in explaining firm performance. The study concludes with a discussion of new directions for future research that may help advance our knowledge of HCR.

Keywords: human capital resources, social capital, Chinese guanxi, human resources management

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Authors: B. M. Vishal, Monamie Basu, Gopinath M., Rose Havilah Pulla

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Though there are several methods of synthesizing silver nano particles, Green synthesis always has its own dignity. Ranging from the cost-effectiveness to the ease of synthesis, the process is simplified in the best possible way and is one of the most explored topics. This study of extracting secondary metabolites from Perilla frutescens and using them for therapeutic additives has its own significance. Unlike the other researches that have been done so far, this study aims to synthesize Silver nano particles from Perilla frutescens using three available forms of the plant: leaves, seed, and commercial leaf extract powder. Perilla frutescens, commonly known as 'Beefsteak Plant', is a perennial plant and belongs to the mint family. The plant has two varieties classed within itself. They are frutescens crispa and frutescens frutescens. The species, frutescens crispa (commonly known as 'Shisho' in Japanese), is generally used for edible purposes. Its leaves occur in two forms, varying on the colors. It is found in two different colors of red with purple streaks and green with crinkly pattern on it. This species is aromatic due to the presence of two major compounds: polyphenols and perillaldehyde. The red (purple streak) variety of this plant is due to the presence of a pigment, Perilla anthocyanin. The species, frutescens frutescens (commonly known as 'Egoma' in Japanese), is the main source for perilla oil. This species is also aromatic, but in this case, the major compound which gives the aroma is Perilla ketone or egoma ketone. Shisho grows short as compared with Wild Sesame and both produce seeds. The seeds of Wild Sesame are large and soft whereas that of Shisho is small and hard. The seeds have a large proportion of lipids, ranging about 38-45 percent. Excluding those, the seeds have a large quantity of Omega-3 fatty acids, linoleic acid, and an Omega-6 fatty acid. Other than these, Perilla leaf extract has gold and silver nano particles in it. The yield comparison in all the cases have been done, and the process’ optimal conditions were modified, keeping in mind the efficiencies. The characterization of secondary metabolites includes GC-MS and FTIR which can be used to identify the components of purpose that actually helps in synthesizing silver nano particles. The analysis of silver was done through a series of characterization tests that include XRD, UV-Vis, EDAX, and SEM. After the synthesis, for being used as therapeutic additives, the toxin analysis was done, and the results were tabulated. The synthesis of silver nano particles was done in a series of multiple cycles of extraction from leaves, seeds and commercially purchased leaf extract. The yield and efficiency comparison were done to bring out the best and the cheapest possible way of synthesizing silver nano particles using Perilla frutescens. The synthesized nano particles can be used in therapeutic drugs, which has a wide range of application from burn treatment to cancer treatment. This will, in turn, replace the traditional processes of synthesizing nano particles, as this method will prove effective in terms of cost and the environmental implications.

Keywords: nanoparticles, green synthesis, Perilla frutescens, characterisation, toxin analysis

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Authors: Neha Devi, P. K. Joshi

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Fire fuel map is one of the most critical factors for planning and managing the fire hazard and risk. One of the most significant forms of global disturbance, impacting community dynamics, biogeochemical cycles and local and regional climate across a wide range of ecosystems ranging from boreal forests to tropical rainforest is wildfire Assessment of fire danger is a function of forest type, fuelwood stock volume, moisture content, degree of senescence and fire management strategy adopted in the ground. Remote sensing has potential of reduction the uncertainty in mapping fuels. Hyperspectral remote sensing is emerging to be a very promising technology for wildfire fuels characterization. Fine spectral information also facilitates mapping of biophysical and chemical information that is directly related to the quality of forest fire fuels including above ground live biomass, canopy moisture, etc. We used Hyperion imagery acquired in February, 2016 and analysed four fuel characteristics using Hyperion sensor data on-board EO-1 satellite, acquired over the Shiwalik Himalayas covering the area of Champawat, Uttarakhand state. The main objective of this study was to present an overview of methodologies for mapping fuel properties using hyperspectral remote sensing data. Fuel characteristics analysed include fuel biomass, fuel moisture, and fuel condition and fuel type. Fuel moisture and fuel biomass were assessed through the expression of the liquid water bands. Fuel condition and type was assessed using green vegetation, non-photosynthetic vegetation and soil as Endmember for spectral mixture analysis. Linear Spectral Unmixing, a partial spectral unmixing algorithm, was used to identify the spectral abundance of green vegetation, non-photosynthetic vegetation and soil.

Keywords: forest fire fuel, Hyperion, hyperspectral, linear spectral unmixing, spectral mixture analysis

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Authors: Riko Wahyudi, Rezky Lasekti Wicaksono, Ayu Satya Damayanti, Ridhasepta Multi Kenrosa

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Implementing Forest Management Unit (FMU) is considered as the best solution for forest management in developing countries. However, when FMU has been formed, many parties then blame the FMU and assume it is not working on. Currently, there are two main issues that make FMU not be functional i.e. institutional and financial issues. This paper is addressing financial issues to make FMUs in Aceh Province can be functional. A mixed financing scheme is proposed here, both direct and indirect financing. The direct financing scheme derived from two components i.e. public funds and businesses. Non-tax instruments of intergovernmental fiscal transfer (IFT) system and FMU’s businesses are assessed. Meanwhile, indirect financing scheme is conducted by assessing public funds within villages around forest estate as about 50% of total villages in Aceh Province are located surrounding forest estate. Potential instruments under IFT system are forest and mining utilization royalties. In order to make these instruments become direct financing for FMU, interventions on allocation and distribution aspects of them are conducted. In the allocation aspect, alteration in proportion of allocation is required as the authority to manage forest has shifted from district to province. In the distribution aspect, Government of Aceh can earmark usage of the funds for FMUs. International funds for climate change also encouraged to be domesticated and then channeled through these instruments or new instrument under public finance system in Indonesia. Based on FMU’s businesses both from forest products and forest services, FMU can impose non-tax fees for each forest product and service utilization. However, for doing business, the FMU need to be a Public Service Agency (PSA). With this status, FMU can directly utilize the non-tax fees without transferring them to the state treasury. FMU only need to report the fees to Ministry of Finance. Meanwhile, indirect financing scheme is conducted by empowering villages around forest estate as villages in Aceh Province is receiving average village fund of IDR 800 million per village in 2017 and the funds will continue to increase in subsequent years. These schemes should be encouraged in parallel to establish a mixed financing scheme in order to ensure sustainable financing for FMU in Aceh Province, Indonesia.

Keywords: forest management, public funds, mixed financing, village

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Authors: Puwanenthiren Pratheepkanth

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The main aim of this paper is to analyse existing literature (1960 -2016) on management accounting revolution by firms in a comparative perspective to see whether any differences between developed and developing countries context. The significant role that management accounting practices play in corporate finance is well established by reams of research articles. The study reveals that there are clear limitations to the literature review, it suggests that a majority of management accounting practices’ studies are focused on developed markets and that there is a scarcity of serious analyses of the situation in emerging markets.

Keywords: developed countries, developing countries, literature review, management accounting practices

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