Search results for: environmental investment

Authors: Dilek Bilgiç

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Configuration Management (CM) is a discipline assuring the consistency between product information the reality all along the product lifecycle. Although the extensive benefits of this discipline, such as the direct impact on increasing return on investment, reducing lifecycle costs, are realized by most organizations. It is worth evaluating that CM functions might be successfully implemented in some organized anarchies. This paper investigates how to manage ambiguity in CM processes as an opportunity within an environment that has different types of complexities and choice arenas. It is not explained how to establish a configuration management organization in a company; more specifically, it is analyzed how to apply configuration management processes when different types of streams exist. From planning to audit, all the CM functions may provide different organization learning opportunities when those applied with the right leadership methods.

Keywords: configuration management, leadership, organizational analysis, organized anarchy, cm process, organizational learning, organizational maturity, configuration status accounting, leading innovation, change management

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Authors: Fatemah Al-Baroud, Sudharani Shreenivas Kshatriya

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Kuwait Oil Company (KOC) is one of the companies for gas & oil production in Kuwait. The oil and gas industry is truly global; with operations conducted in every corner of the globe, the global community will rely heavily on oil and gas supplies. KOC has made many commitments to protect all due to KOC’s operations and operational releases. As per KOC’s strategy, the substantial increase in production activities will bring many challenges in managing various environmental hazards and stresses in the company. In order to handle those environmental challenges, the need of implementing effectively the health, safety, and environmental management system (HSEMS) is significant. And by implementing the HSEMS system properly, the environmental aspects of the activities, products, and services were identified, evaluated, and controlled in order to (i) Comply with local regulatory and other obligatory requirements; (ii) Comply with company policy and business requirements; and (iii) Reduce adverse environmental impact, including adverse impact to company reputation. Assessments for the Jurassic Production Facilities are being carried out as a part of the KOC HSEMS procedural requirement and monitoring the implementation of the relevant HSEMS procedures in the facilities. The assessments have been done by conducting series of theme audits using KOC’s audit protocol at JPFs. The objectives of the audits are to evaluate the compliance of the facilities towards the implementation of environmental procedures and the status of the KEPA requirement at all JPFs. The list of the facilities that were covered during the theme audit program are the following: (1) Jurassic Production Facility (JPF) – Sabriya (2) Jurassic Production Facility (JPF) – East Raudhatian (3) Jurassic Production Facility (JPF) – West Raudhatian (4)Early Production Facility (EPF 50). The auditing process comprehensively focuses on the application of KOC HSE MS procedures at JPFs and their ability to reduce the resultant negative impacts on the environment from the operations. Number of findings and observations were noted and highlighted in the audit reports and sent to all concerned controlling teams. The results of these audits indicated that the facilities, in general view, were in line with KOC HSE Procedures, and there were commitments in documenting all the HSE issues in the right records and plans. Further, implemented several control measures at JPFs that minimized/reduced the environmental impact, such as SRU were installed for sulphur recovery. Future scope and monitoring audit after a sufficient period of time will be carried out in conjunction with the controlling teams in order to verify the current status of the recommendations and evaluate the contractors' performance towards the required actions in preserving the environment.

Keywords: assessment of the environmental compliance, environmental and social impact assessment, kuwait environment public authority regulations, health, safety and environment management procedures, jurassic production facilities

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Authors: Sunico Armie Flores

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Early childhood education (ECE) is pivotal in shaping the future of individuals and society. This paper explores the collaborative efforts required among educators, families, and communities to create a collective impact on young children’s development. It delves into the importance of these partnerships, effective strategies for engagement, and the challenges and opportunities inherent in fostering such collaboration. By examining current research and practices, the paper aims to highlight the essential role of an integrated approach in achieving significant and sustainable improvements in early childhood outcomes.

Keywords: early childhood education, lifelong learning, cognitive development, socio-emotional development, educators, families, communities, collaborative efforts, collective impact, early learning environments, holistic development, high-quality ECE programs, investment in education

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Authors: Rafia Akbar

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This paper assesses different Energy Efficiency Measures (EEMs) and their impact on energy consumption and carbon footprint of an educational building located in Islamabad. A base case was first developed in accordance with typical construction practices in Pakistan. Several EEMs were separately applied to the baseline design to quantify their impact on operational energy reduction of the building and the resultant carbon emissions. Results indicate that by applying these measures, there is a potential to reduce energy consumption up to 49% as compared to the base case. It was observed that energy efficient ceiling fans and lights, insulation of the walls and roof and an efficient air conditioning system for the building can provide significant energy savings. The results further indicate that the initial investment cost of these energy efficiency measures can be recovered within 6 to 7 years of building’s service life.

Keywords: CO2 savings, educational building, energy efficiency measures, payback period

Procedia PDF Downloads 166

Authors: Antoni Wibowo, Harry Pujianto, Dewi Retno Sari Saputro

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The stock market can provide huge profits in a relatively short time in financial sector; however, it also has a high risk for investors and traders if they are not careful to look the factors that affect the stock market. Therefore, they should give attention to the dynamic fluctuations and movements of the stock market to optimize profits from their investment. In this paper, we present a nonlinear autoregressive exogenous model (NARX) to predict the movements of stock market; especially, the movements of the closing price index. As case study, we consider to predict the movement of the closing price in Indonesia composite index (IHSG) and choose the best structures of NARX for IHSG’s prediction.

Keywords: NARX (Nonlinear Autoregressive Exogenous Model), prediction, stock market, time series

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Authors: Obioma Uche

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Due to the recent volatility in oil & gas prices as well as increased development of non-conventional resources, it has become even more essential to critically evaluate the profitability of petroleum prospects prior to making any investment decisions. Traditionally, simple Monte Carlo (MC) algorithms have been used to randomly sample probability distributions of economic and geological factors (e.g. price, OPEX, CAPEX, reserves, productive life, etc.) in order to obtain probability distributions for profitability metrics such as Net Present Value (NPV). In recent years, second-order MC algorithms have been shown to offer an advantage over simple MC techniques due to the added consideration of uncertainties associated with the probability distributions of the relevant variables. Here, a strategy for the application of the second-order MC technique to a case study is demonstrated to analyze its effectiveness as a tool for portfolio management.

Keywords: Monte Carlo algorithms, portfolio management, profitability, risk analysis

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Authors: Enrique Nunez L., Maria Cortes L., Sandra Laffon L., Ana M. Cupul V.

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The phytoplankton community composition was studied in a tropical coastal lagoon of Mexico and relationships with environmental variables were evaluated. Six sites inside the tropical Terminos Lagoon were sampled in order to determine abundances and ecological indexes for phytoplankton from May to December 2017. Water samples were also collected to determine the values of pigments, nutrients, and water solids. Results showed that the composition and abundance of the phytoplankton community were influenced by physicochemical factors, nutrients, water solids, and climate seasons. Sixty-six species were identified as potential HAB producers (44.29% from total). However, abundances were not related to the occurrence of HAB during the study. Multidimensional ANOVA indicated no significant differences between sites while some months revealed significant differences. The canonical analysis suggested that environmental variables explained 49% of community variation of potential phytoplankton species producers of HAB.

Keywords: phytoplankton, environment, lagoon, biodiversity

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Authors: Mary Josephine

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Waste of certain process can be the input source of other sectors in order to reduce environmental pollution. Today there are more and more solid wastes are generated, but only very small amount of those are recycled. So, the threatening of environmental pressure to public health is very serious. The methods considered for the treatment of solid waste are biogas tanks or processing to make animal feed and fertilizer, however, they did not perform well. An alternative approach is growing mushrooms on waste residues. This is regarded as an environmental friendly solution with potential economic benefit. The substrate producers do their best to produce quality substrate at low cost. Apart from other methods, this can be achieved by employing biologically degradable wastes used as the resource material component of the substrate. Mushroom growing is a significant tool for the restoration, replenishment and remediation of Earth’s overburdened ecosphere. One of the rational methods of waste utilization involves locally available wastes. The present study aims to find out the yield of mushroom grown on locally available waste for free and to conserve our environment by recycling wastes.

Keywords: biodegradable, environment, mushroom, remediation

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Authors: Kwok Tak Kit

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The government and community have raised their awareness of the benefits of water reuse. Deforestation has a significant effect to climate change as it causes the drying out of the tropical rainforest and hence increases the chance of natural hazards. The loss of forests due to natural fire or human factors would be threatening the storage and supply of clean water. In this paper, we will focus on the discussion of the relationship of the natural water collection system, afforestation and country parks towards environmental sustainability and circular economy with a case study of water conservation policy and strategy in Hong Kong and Singapore for further research. The UN General Assembly launched the Water Action Decade in 2018 to mobilize action that will help to tackle the growing challenge of water scarcity through water conservation and protect and restore water-related ecosystems, including forests, wetlands, rivers, aquifers and lakes.

Keywords: afforestation, environmental sustainability, water conservation, circular economy, climate change, sustainable development goal

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Authors: Rosyidah, Permata Wulandari

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We investigate the price effect of addition and deletions from the Indonesia Sharia Stock Index (ISSI) and Jakarta Islamic Index (JII). Using event study methodology, we measure abnormal returns for firms over the period June 2019 - to December 2021. Through the sample of 107 additions and 95 deletions, we find evidence to support the theory of Muslim country investment behavior. We find that additions to the Islamic index led to a significant positive stock market reaction and deletions to the Islamic index led to a negative stock market reaction on Jakarta Islamic Index (JII) and there is no significant reaction of addition and deletion on Indonesia Sharia Stock Index (ISSI).

Keywords: abnormal return, abnormal volume, event study, index changes, sharia index

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Authors: Mwafak Shakoor

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The purpose of this study was to reduce patient waiting times, improve system throughput and improve resources utilization in radiology department. A discrete event simulation model was developed using Arena simulation software to investigate different alternatives to improve the overall system delivery based on adding resource scenarios due to the linkage between patient waiting times and resource availability. The study revealed that there is no addition investment need to procure additional scanner but hospital management deploy managerial tactics to enhance machine utilization and reduce the long waiting time in the department.

Keywords: discrete event simulation, radiology department, arena, waiting time, healthcare modeling, computed tomography

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Authors: Ha Hai Duong, Amnon Levy Livermore, Kankesu Jayanthakumaran, Oleg Yerokhin

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The issues of economic development, the environment and human health have been investigated since 1990s. Previous researchers have found different empirical evidences of the relationship between income and environmental pollution, health as determinant of economic growth, and the effects of income and environmental pollution on health in various regions of the world. This paper concentrates on integrative relationship analysis of GDP, carbon dioxide emissions, and health services and population health in context of Vietnam. We applied the dynamic generalized method of moments (GMM) estimation on datasets of Vietnam’s sixty-three provinces for the years 2000-2010. Our results show the significant positive effect of GDP on emissions and the dependence of population health on emissions and health services. We find the significant relationship between population health and GDP. Additionally, health services are significantly affected by population health and GDP. Finally, the population size too is other important determinant of both emissions and GDP.

Keywords: economic development, emissions, environmental pollution, health

Procedia PDF Downloads 626

Authors: M. Marín-Ferrer, M. A. Hernández, T. Tollefsen, S. Vanzo, E. Nweke, P. V. Tognoli, M. De Cort

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Under the terms of Article 36 of the Euratom Treaty, European Union Member States (MSs) shall periodically communicate to the European Commission (EC) information on environmental radioactivity levels. Compilations of the information received have been published by the EC as a series of reports beginning in the early 1960s. The environmental radioactivity results received from the MSs have been introduced into the Radioactivity Environmental Monitoring database (REMdb) of the Institute for Transuranium Elements of the EC Joint Research Centre (JRC) sited in Ispra (Italy) as part of its Directorate General for Energy (DG ENER) support programme. The REMdb brings to the scientific community dealing with environmental radioactivity topics endless of research opportunities to exploit the near 200 millions of records received from MSs containing information of radioactivity levels in milk, water, air and mixed diet. The REM action was created shortly after Chernobyl crisis to support the EC in its responsibilities in providing qualified information to the European Parliament and the MSs on the levels of radioactive contamination of the various compartments of the environment (air, water, soil). Hence, the main line of REM’s activities concerns the improvement of procedures for the collection of environmental radioactivity concentrations for routine and emergency conditions, as well as making this information available to the general public. In this way, REM ensures the availability of tools for the inter-communication and access of users from the Member States and the other European countries to this information. Specific attention is given to further integrate the new MSs with the existing information exchange systems and to assist Candidate Countries in fulfilling these obligations in view of their membership of the EU. Article 36 of the EURATOM treaty requires the competent authorities of each MS to provide regularly the environmental radioactivity monitoring data resulting from their Article 35 obligations to the EC in order to keep EC informed on the levels of radioactivity in the environment (air, water, milk and mixed diet) which could affect population. The REMdb has mainly two objectives: to keep a historical record of the radiological accidents for further scientific study, and to collect the environmental radioactivity data gathered through the national environmental monitoring programs of the MSs to prepare the comprehensive annual monitoring reports (MR). The JRC continues his activity of collecting, assembling, analyzing and providing this information to public and MSs even during emergency situations. In addition, there is a growing concern with the general public about the radioactivity levels in the terrestrial and marine environment, as well about the potential risk of future nuclear accidents. To this context, a clear and transparent communication with the public is needed. EURDEP (European Radiological Data Exchange Platform) is both a standard format for radiological data and a network for the exchange of automatic monitoring data. The latest release of the format is version 2.0, which is in use since the beginning of 2002.

Keywords: environmental radioactivity, Euratom, monitoring report, REMdb

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Authors: Min Wei

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With the rapid development eco-tourism resources exploitation, the conflict between economy development and ecological environment is increasingly prominent. The environmental protection laws, however, are lack of necessary legal support to use market mechanism and economic means to carry out ecological compensation and promote the environmental protection. In order to protect the sustainable utilization of eco-tourism resources and the benign development of the interests of various stakeholders, protection of ecological compensation balance should be put on schedule. The main role of institutional guarantee in eco-tourism resources' value compensation mechanism is to solve the question 'how to guarantee compensation'. The evaluation of the game model in this paper reveals that interest balance of stakeholders is an important cornerstone to obtain the sustainable development. The findings result in constructing a sustainable development pattern of eco- tourism industry based on tripartite game equilibrium among government, tourism enterprises and tourists. It is important that the social, economic and ecological environment should be harmonious development during the pursuit of eco-tourism growth.

Keywords: environmental protection, ecological compensation, eco-tourism, market mechanism

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Authors: Ada Rocha, Beatriz Almeida, Cláudia Viegas

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Considering the growing trend of food consumption outside the home, Food Service units (FSU) achieved importance and responsibility in feeding the population. FSU have a strong environmental impact since the large-scale production of meals implies a high use of resources and produce high amounts of waste with economic and environmental consequences. At the end of 2019, with the emergence of the Covid-19 pandemic, this effort towards sustainability was affected by the contingency measures imposed to stop the spread of the virus. Preventive measures in FSU, include the provision of cutlery and paper napkins in individual bags, the use of disposable paper towels, the supply of individual portions of bread and spices, as well as bottled water. These measures are, in many cases, a setback and an obstacle to the implementation of more sustainable practices and imply greater consumption of natural resources and materials. The present study aimed to assess the impact of the implementation of the contingency measures for the Covid-19 pandemic on the environmental practices of FSU in Portugal. A questionnaire was developed to characterize the FSU and the impact of the implementation of contingency measures for the Covid-19 pandemic. A great impact of the implementation of the contingency measures in the sustainability of FSU was observed, highlighting concerns about the need to keep these measures, some of them adopted due to fear of the unknown and its consequences on an ongoing successful process. Policymakers should keep only the ones that may prove to be efficient and positive and abandon or relieve the unnecessary ones.

Keywords: COVID-19, environment, food service, sustainability, SGD

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Authors: Tahmina Akhter

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In the present work, we make a study of the repercussions of the pandemic generated by Covid-19 in the real estate market, this disease has affected almost all sectors of the economy across different countries in the world, including the real estate markets. This documentary research, basically focused on the years 2021 and 2022, as we seek to focus on the strongest time of the pandemic. We carried out the study trying to take into account the repercussions throughout the world and that is why the data we analyze takes into account information from all continents as possible. Particularly in the US, Europe and China where the Covid-19 impact has been of such proportions that it has fundamentally affected the housing market for middle-class housing. In addition, a risk has been generated, the investment of this market, due to the fact that companies in the sector have generated losses in certain cases; in the Chinese case, Evergrande, one of the largest companies in the sector, fell into default.

Keywords: COVID-19, real estate market, statistics, pandemic

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Authors: Rosie S. Abalos, John Patrick M. Dizon

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The operation of fish cages in mariculture parks for milkfish production remains a lucrative business for aquaculture operators. Three areas in the Philippines where mariculture parks are still in active operation were identified as study sites for this research. Financial analysis was used to estimate profitability of mariculture operations in the selected study sites. Based on the result of this research, milkfish production in mariculture parks remains profitable both in terms of net profit generation and the return on investment. To improve the profitability of aquaculture operations in mariculture parks, the relatively high price of operational inputs should be managed. As a recommendation, further studies should be conducted on the profitability of aquaculture operations in mariculture parks in the country to include other factors which may cause losses on the part of the operator and factors that may affect price of produce upon harvest.

Keywords: mariculture parks, milkfish production, aquaculture, profitability

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Authors: S. Mohajer , R. M. Taha, M. Adel

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Developing our knowledge of when pineapple roots grow can lead to improved water, fertilizer applications, and more precise culture management. This paper presents current understanding of morphological traits in pineapple roots, highlighting studies using incubation periods and various solid MS media treated with different sucrose concentrations and pH, which directly assess in vitro environmental factors. Rooting parameters had different optimal sucrose concentrations and incubation periods. All shoots failed to root in medium supplemented with sucrose at 5 g/L and no roots formed within the first 45 days in medium enriched with sucrose at 10 g/L. After 75 days, all shoots rooted in medium enriched with 10 and 20 g/L sucrose. Moreover, MS medium supplied with 20 g/L sucrose resulted in the longest and the highest number of roots with 27.3 mm and 4.7, respectively. Root function, such as capacity for P and N uptake, declined rapidly with root length. As a result, the longer the incubation period, the better the rooting responses would be.

Keywords: environmental factors, in vitro rooting, pineapple, tissue culture

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Authors: Endang Jati Mat Sahid, Hussain Ali Bekhet

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Ability to supply reliable and secure electricity has been one of the crucial components of economic development for any country. Forecasting of electricity production is therefore very important for accurate investment planning of generation power plants. In this study, we aim to examine and analyze the factors that affect electricity generation. Multiple regression models were used to find the relationship between various variables and electricity production. The models will simultaneously determine the effects of the variables on electricity generation. Many variables influencing electricity generation, i.e. natural gas (NG), coal (CO), fuel oil (FO), renewable energy (RE), gross domestic product (GDP) and fuel prices (FP), were examined for Malaysia. The results demonstrate that NG, CO, and FO were the main factors influencing electricity generation growth. This study then identified a number of policy implications resulting from the empirical results.

Keywords: energy policy, energy security, electricity production, Malaysia, the regression model

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Authors: Angelica S. Valeriani, Lorenzo Biasiolo

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In recent years, the scale of the impact of climate change and its related side effects has become ever more massive and devastating. Sustainable Development Goals (SDGs), promoted by United Nations, aim to front issues related to climate change, among others. In particular, the project CROWD4SDG focuses on a bunch of SDGs since it promotes environmental activities and climate-related issues. In this context, we developed a prototype of an application, under advanced development considering web design, that focuses on SDG 13 (SDG on climate action) by providing users with useful instruments to face environmental crises and climate-related disasters. Our prototype is thought and structured for both web and mobile development. The main goal of the application, POLI4SDG, is to help users to get through emergency services. To this extent, an organized overview and classification prove to be very effective and helpful to people in need. A careful analysis of data related to environmental crises prompted us to integrate the user contribution, i.e., exploiting a core principle of Citizen Science, into the realization of a public catalog, available for consulting and organized according to typology and specific features. In addition, gender equality and opportunity features are considered in the prototype in order to allow women, often the most vulnerable category, to have direct support. The overall description of the application functionalities is detailed. Moreover, the implementation features and properties of the prototype are discussed.

Keywords: crowdsourcing, social media, SDG, climate change, natural disasters, gender equality

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Authors: Bengan Simbarashe Manwere

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The entire African continent, comprising 55 countries, holds a 2% share of the global carbon market. The World Bank attributes the continent’s insignificant share and participation in the carbon market to the limited access to electricity. Approximately 800 million people spread across 47 African countries generate as much power as Spain, with a population of 45million. Only South Africa and North Africa have carbon-reduction investment opportunities on the continent and dominate the 2% market share of the global carbon market. On the back of the 2015 Paris Agreement, South Africa signed into law the Carbon Tax Act 15 of 2019 and the Customs and Excise Amendment Act 13 of 2019 (Gazette No. 4280) on 1 June 2019. By these laws, South Africa was ushered into the league of active global carbon market players. By increasing the cost of production by the rate of R120/tCO2e, the tax intentionally compels the internalization of pollution as a cost of production and, relatedly, stimulate investment in clean technologies. The first phase covered the 1 June 2019 – 31 December 2022 period during which the tax was meant to escalate at CPI + 2% for Scope 1 emitters. However, in the second phase, which stretches from 2023 to 2030, the tax will escalate at the inflation rate only as measured by the consumer price index (CPI). The Carbon Tax Act provides for carbon allowances as mitigation strategies to limit agents’ carbon tax liability by up to 95% for fugitive and process emissions. Although the June 2019 Carbon Tax Act explicitly makes provision for a carbon trading scheme (CTS), the carbon trading regulations thereof were only finalised in December 2020. This points to a delay in the establishment of a carbon trading scheme (CTS). Relatedly, emitters in South Africa are not able to benefit from the 95% reduction in effective carbon tax rate from R120/tCO2e to R6/tCO2e as the Johannesburg Stock Exchange (JSE) has not yet finalized the establishment of the market for trading carbon credits. Whereas most carbon trading schemes have been designed and constructed from the beginning as new tailor-made systems in countries the likes of France, Australia, Romania which treat carbon as a financial product, South Africa intends, on the contrary, to leverage existing trading infrastructure of the Johannesburg Stock Exchange (JSE) and the Clearing and Settlement platforms of Strate, among others, in the interest of the Paris Agreement timelines. Therefore the carbon trading scheme will not be constructed from scratch. At the same time, carbon will be treated as a commodity in order to align with the existing institutional and infrastructural capacity. This explains why the Carbon Tax Act is silent about the involvement of the Financial Sector Conduct Authority (FSCA).For South Africa, there is need to establish they equilibrium stability of the CTS. This is important as South Africa is an innovator in carbon trading and the successful trading of carbon credits on the JSE will lead to imitation by early adopters first, followed by the middle majority thereafter.

Keywords: carbon trading scheme (CTS), Johannesburg stock exchange (JSE), carbon tax act 15 of 2019, South Africa

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Authors: Sumay Bhojwani, Ashutosh Chandra, Mamita Devaburman, Akriti Bhogal

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This article uses the Material flow analysis for estimating e-wastes in the Delhi/NCR region. The Material flow analysis is based on sales data obtained from various sources. Much of the data available for the sales is unreliable because of the existence of a huge informal sector. The informal sector in India accounts for more than 90%. Therefore, the scope of this study is only limited to the formal one. Also, for projection of the sales data till 2030, we have used regression (linear) to avoid complexity. The actual sales in the years following 2015 may vary non-linearly but we have assumed a basic linear relation. The purpose of this study was to know an approximate quantity of desktop e-wastes that we will have by the year 2030 so that we start preparing ourselves for the ineluctable investment in the treatment of these ever-rising e-wastes. The results of this study can be used to install a treatment plant for e-wastes in Delhi.

Keywords: e-wastes, Delhi, desktops, estimation

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Authors: Zeynep Karaçor, Volkan Alptekin, Gökhan Akar, Tuba Akar

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This paper aims to review the phenomenon of triplet deficit which is called interaction of budget balance that make up the overall balance of the economy, investment savings balance and current accounts balance in terms of Turkey. In this paper, triplet deficit state in Turkish economy has been analyzed with vector autoregressive model and Granger causality test using data covering the period of 1980-2010. According to VAR results, increase in current accounts is perceived on public sector borrowing requirement. These two variables influence each other bilaterally. Therefore, current accounts increase public deficit, whereas public deficit increases current accounts. It is not possible to mention the existence of a short-term Granger causality between variables at issue.

Keywords: internal and external deficit, stability, triplet deficit, Turkey economy

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Authors: Marco Sewald

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Due to the current enforcement of exterritorial U.S. legislation, up to 9 million U.S. (dual) citizens residing abroad are subject to U.S. double and surcharge taxation and at risk of losing access to otherwise basic financial services and investment opportunities abroad. The United States is the only OECD country that taxes non-resident citizens, lawful permanent residents and other non-resident aliens on their worldwide income, based on local U.S. tax laws. To enforce these policies the U.S. has implemented ‘saving clauses’ in all tax treaties and implemented several compliance provisions, including the Foreign Account Tax Compliance Act (FATCA), Qualified Intermediaries Agreements (QI) and Intergovernmental Agreements (IGA) addressing Foreign Financial Institutions (FFIs) to implement these provisions in foreign jurisdictions. This policy creates systematic cases of double and surcharge taxation. The increased enforcement of compliance rules is creating additional report burdens for U.S. persons abroad and FFIs accepting such U.S. persons as customers. FFIs in Europe react with a growing denial of specific financial services to this population. The numbers of U.S. citizens renouncing has dramatically increased in the last years. A case study is chosen as an appropriate methodology and research method, as being an empirical inquiry that investigates a contemporary phenomenon within its real-life context; when the boundaries between phenomenon and context are not clearly evident; and in which multiple sources of evidence are used. This evaluative approach is testing whether the combination of policies works in practice, or whether they are in accordance with desirable moral, political, economical aims, or may serve other causes. The research critically evaluates the financial and non-financial consequences and develops sufficient strategies. It further discusses these strategies to avoid the undesired consequences of exterritorial U.S. legislation. Three possible strategies are resulting from the use cases: (1) Duck and cover, (2) Pay U.S. double/surcharge taxes, tax preparing fees and accept imposed product limitations and (3) Renounce U.S. citizenship and pay possible exit taxes, tax preparing fees and the requested $2,350 fee to renounce. While the first strategy is unlawful and therefore unsuitable, the second strategy is only suitable if the U.S. citizen residing abroad is planning to move to the U.S. in the future. The last strategy is the only reasonable and lawful way provided by the U.S. to limit the exposure to U.S. double and surcharge taxation and the limitations on financial products. The results are believed to add a perspective to the current academic discourse regarding U.S. citizenship based taxation, currently dominated by U.S. scholars, while providing sufficient strategies for the affected population at the same time.

Keywords: citizenship based taxation, FATCA, FBAR, qualified intermediaries agreements, renounce U.S. citizenship

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Authors: Azadeh Mohajer Milani

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Urbanization constitutes an irreversible global trend, presenting myriad challenges such as heightened energy consumption, pollution, congestion, and the depletion of natural resources. Today's urban landscapes have emerged as focal points for economic, social, and environmental challenges, underscoring the pressing need for sustainable development. This article delves into the realm of sustainable urban development, concentrating on the pivotal role played by integrated green spaces as an optimal solution to address environmental concerns within cities. The study utilizes Tehran as a case study. Our findings underscore the imperative of preserving and expanding green spaces in urban areas, coupled with the establishment of well-designed ecological networks, to enhance environmental quality and elevate the sustainability of cities. Notably, Tehran's urban green spaces exhibit a disjointed design, lacking a cohesive network to connect various patches and corridors, resulting in significant environmental impacts. The results emphasize the necessity of a balanced and proportional distribution of urban green spaces and the creation of a cohesive patch-corridor-matrix network tailored to the ecological and social needs of residents. This approach is crucial for fostering a more sustainable and livable urban environment for all species, with a specific focus on humans.

Keywords: ecology, sustainable urban development, sustainable landscape, urban green space network

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Authors: Maria Debora Braga, Luigi Riso, Maria Grazia Zoia

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Risk-based approaches to asset allocation are portfolio construction methods that do not rely on the input of expected returns for the asset classes in the investment universe and only use risk information. They include the Minimum Variance Strategy (MV strategy), the traditional (volatility-based) Risk Parity Strategy (SRP strategy), the Most Diversified Portfolio Strategy (MDP strategy) and, for many, the Equally Weighted Strategy (EW strategy). All the mentioned approaches were based on portfolio volatility as a reference risk measure but in 2023, the Kurtosis-based Risk Parity strategy (KRP strategy) and the Minimum Kurtosis strategy (MK strategy) were introduced. Understandably, they used the fourth root of the portfolio-fourth moment as a proxy for portfolio kurtosis to work with a homogeneous function of degree one. This paper contributes mainly theoretically and methodologically to the framework of risk-based asset allocation approaches with two steps forward. First, a new and more flexible objective function considering a linear combination (with positive coefficients that sum to one) of portfolio volatility and portfolio kurtosis is used to alternatively serve a risk minimization goal or a homogeneous risk distribution goal. Hence, the new basic idea consists in extending the achievement of typical risk-based approaches’ goals to a combined risk measure. To give the rationale behind operating with such a risk measure, it is worth remembering that volatility and kurtosis are expressions of uncertainty, to be read as dispersion of returns around the mean and that both preserve adherence to a symmetric framework and consideration for the entire returns distribution as well, but also that they differ from each other in that the former captures the “normal” / “ordinary” dispersion of returns, while the latter is able to catch the huge dispersion. Therefore, the combined risk metric that uses two individual metrics focused on the same phenomena but differently sensitive to its intensity allows the asset manager to express, in the context of an objective function by varying the “relevance coefficient” associated with the individual metrics, alternatively, a wide set of plausible investment goals for the portfolio construction process while serving investors differently concerned with tail risk and traditional risk. Since this is the first study that also implements risk-based approaches using a combined risk measure, it becomes of fundamental importance to investigate the portfolio effects triggered by this innovation. The paper also offers a second contribution. Until the recent advent of the MK strategy and the KRP strategy, efforts to highlight interesting properties of risk-based approaches were inevitably directed towards the traditional MV strategy and SRP strategy. Previous literature established an increasing order in terms of portfolio volatility, starting from the MV strategy, through the SRP strategy, arriving at the EQ strategy and provided the mathematical proof for the “equalization effect” concerning marginal risks when the MV strategy is considered, and concerning risk contributions when the SRP strategy is considered. Regarding the validity of similar conclusions when referring to the MK strategy and KRP strategy, the development of a theoretical demonstration is still pending. This paper fills this gap.

Keywords: risk parity, portfolio kurtosis, risk diversification, asset allocation

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Authors: Sylwia Frydrych, Jörg Prokop, Michał Buszko

Abstract:

This study investigates the complex relationship between corporate ESG (Environmental, Social, Governance) performance and stock price risk within the European market context. By analyzing a dataset of 435 companies across 19 European countries, the research assesses the impact of both combined ESG performance and its individual components on various risk measures, including volatility, idiosyncratic risk, systematic risk, and downside risk. The findings reveal that while overall ESG scores do not significantly influence stock price risk, disaggregating the ESG components uncovers significant relationships. Governance practices are shown to consistently reduce market risk, positioning them as critical in risk management. However, environmental engagement tends to increase risk, particularly in times of regulatory shifts like those introduced in the EU post-2018. This research provides valuable insights for investors and corporate managers on the nuanced roles of ESG factors in financial risk, emphasizing the need for careful consideration of each ESG pillar in decision-making processes.

Keywords: ESG performance, ESG factors, ESG pillars, ESG scores

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Authors: Qiang Guo, Ruying Qi

Abstract:

This project aims to trace the developmental patterns of a child's Mandarin and English from China to Australia from age 3; 03 till 5; 06. In childhood bilingual studies, there is an assumption that age 3 is the dividing line between simultaneous bilinguals and sequential bilinguals. Determining similarities and differences between Bilingual First Language Acquisition, Early Second Language Acquisition, and Second Language Acquisition is of great theoretical significance. Studies on Bilingual First Language Acquisition, hereafter, BFLA in the past three decades have shown that the grammatical development of bilingual children progresses through the same developmental trajectories as their monolingual counterparts. Cross-linguistic interaction does not show changes of the basic grammatical knowledge, even in the weaker language. While BFLA studies show consistent results under the conditions of adequate input and meaningful interactional context, the research findings of Early Second Language Acquisition (ESLA) have demonstrated that this cohort proceeds their early English differently from both BFLA and SLA. The different development could be attributed to the age of migration, input pattern, and their Environmental Languages (Lε). In the meantime, the dynamic relationship between the two languages is an issue to invite further attention. The present study attempts to fill this gap. The child in this case study started acquiring L1 Mandarin from birth in China, where the environmental language (Lε) coincided with L1 Mandarin. When she migrated to Australia at 3;06, where the environmental language (Lε) was L2 English, her Mandarin exposure was reduced. On the other hand, she received limited English input starting from 1; 02 in China, where the environmental language (Lε) was L1 Mandarin, a non-English environment. When she relocated to Australia at 3; 06, where the environmental language (Lε) coincided with L2 English, her English exposure significantly increased. The child’s linguistic profile provides an opportunity to explore: (1) What does the child’s English developmental route look like? (2) What does the L1 Mandarin developmental pattern look like in different environmental languages? (3) How do input and environmental language interact in shaping the bilingual child’s linguistic repertoire? In order to answer these questions, two linguistic areas are selected as the focus of the investigation, namely, subject realization and wh-questions. The chosen areas are contrastive in structure but perform the same semantic functions in the two linguistically distant languages and can serve as an ideal testing ground for exploring the developmental path in the two languages. The longitudinal case study adopts a combined approach of qualitative and quantitative analysis. Two years’ Mandarin and English data are examined, and comparisons are made with age-matched monolinguals in each language in CHILDES. To the author’s best knowledge, this study is the first of this kind examining a Mandarin-English bilingual child's bilingual development at a critical age, in different input patterns, and in different environmental languages (Lε). It also expands the scope of the theory of Lε, adding empirical evidence on the relationship between input and Lε in bilingual acquisition.

Keywords: bilingual development, age, input, environmental language (Le)

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Authors: Vivian Caroline Koerbel Dombrowski

Abstract:

Armed conflicts have always meant the ultimate expression of power and at the same time, lack of understanding among nations. Cities were destroyed, people were killed, assets were devastated. But these are not only the loss of a war: the environmental damage comes to be considered immeasurable losses in the short, medium and long term. And this is because no nation wants to bear that cost. They invest in military equipment, training, technical equipment but the environmental account yet finds gaps in international law. Considering such a generalization in rights protection, many nations are at imminent danger in a conflict if the water will be used as a mass weapon, especially if we consider important rivers such as Jordan, Euphrates and Nile. The top three international documents were analyzed on the subject: the Stockholm Convention (1972), Additional Protocol I to the Geneva Convention (1977) and the Rome Statute (1998). Indeed, some references are researched in doctrine, especially scientific articles, to substantiate with consistent data about the extent of the damage, historical factors and decisions which have been successful. However, due to the lack of literature about this subject, the research tends to be exhaustive. From the study of the indicated material, it was noted that international law - humanitarian and environmental - calls in some of its instruments the environmental protection in war conflicts, but they are generic and vague rules that do not define exactly what is the environmental damage , nor sets standards for measure them. Taking into account the mains conflicts of the century XX: World War II, the Vietnam War and the Gulf War, one must realize that the environmental consequences were of great rides - never deactivated landmines, buried nuclear weapons, armaments and munitions destroyed in the soil, chemical weapons, not to mention the effects of some weapons when used (uranium, agent Orange, etc). Extending the search for more recent conflicts such as Afghanistan, it is proven that the effects on health of the civilian population were catastrophic: cancer, birth defects, and deformities in newborns. There are few reports of nations that, somehow, repaired the damage caused to the environment as a result of the conflict. In the pitch of contemporary conflicts, many nations fear that water resources are used as weapons of mass destruction, because once contaminated - directly or indirectly - can become a means of disguised genocide side effect of military objective. In conclusion, it appears that the main international treaties governing the subject mention the concern for environmental protection, however leave the normative specifications vacancies necessary to effectively there is a prevention of environmental damage in armed conflict and, should they occur, the repair of the same. Still, it appears that there is no protection mechanism to safeguard natural resources and avoid them to become a mass destruction weapon.

Keywords: armed conflicts, criminal liability, environmental damages, humanitarian law, mass weapon

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Authors: Mohammad Abotalib, Hamid Alhamadi

Abstract:

In Kuwait, electricity is generated from two primary sources that are heavy fuel combustion and natural gas combustion. As Kuwait relies mainly on petroleum-based products for electricity generation, identifying and understanding the environmental trade-off of such operations should be carefully investigated. The life cycle assessment (LCA) tool is applied to identify the potential environmental impact of electricity generation under three scenarios by considering the material flow in various stages involved, such as raw-material extraction, transportation, operations, and waste disposal. The three scenarios investigated represent current and futuristic electricity grid mixes. The analysis targets six environmental impact categories: (1) global warming potential (GWP), (2) acidification potential (AP), (3) water depletion (WD), (4) acidification potential (AP), (4) eutrophication potential (EP), (5) human health particulate matter (HHPM), and (6) smog air (SA) per one kWh of electricity generated. Results indicate that one kWh of electricity generated would have a GWP (881-1030) g CO₂-eq, mainly from the fuel combustion process, water depletion (0.07-0.1) m³ of water, about 68% from cooling processes, AP (15.3-17.9) g SO₂-eq, EP (0.12-0.14) g N eq., HHPA (1.13- 1.33)g PM₂.₅ eq., and SA (64.8-75.8) g O₃ eq. The variation in results depend on the scenario investigated. It can be observed from the analysis that introducing solar photovoltaic and wind to the electricity grid mix improves the performance of scenarios 2 and 3 where 15% of the electricity comes from renewables correspond to a further decrease in LCA results.

Keywords: energy, functional uni, global warming potential, life cycle assessment, energy, functional unit

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