Search results for: carbon trading price

Authors: Howard Chitimira

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The European Union (EU) was probably the first body to establish multinational anti-market abuse laws aimed at enhancing the detection and curbing of cross-border market abuse activities in its member states. Put differently, the EU Insider Dealing Directive was adopted in 1989 and was the first law that harmonised the insider trading ban among the EU member states. Thereafter, the European Union Directive on Insider Dealing and Market Manipulation (EU Market Abuse Directive) was adopted in a bid to improve and effectively discourage all the forms of market abuse in the EU’s securities and financial markets. However, the EU Market Abuse Directive had its own gaps and flaws. In light of this, the Market Abuse Regulation and the Criminal Sanctions for Market Abuse Directive were enacted to repeal and replace the EU Market Abuse Directive in 2016. The article examines the adequacy of the EU Market Abuse Directive and its implementation in the United Kingdom (UK) prior to the British exit (Brexit). This is done to investigate the possible implications of the Brexit referendum outcome of 23 June 2016 on the future regulation of market abuse in the UK.

Keywords: market abuse, insider trading, market manipulation, European Union, United Kingdom

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Authors: S. Jamshidi, E. Feizi Ashtiani, M. Ardestani, A. Feizi Ashtiani

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Waste load allocation (WLA) strategies usually intend to find economical policies for water resource management. Water quality trading (WQT) is an approach that uses discharge permit market to reduce total environmental protection costs. This primarily requires assigning discharge limits known as total maximum daily loads (TMDLs). These are determined by monitoring organizations with respect to the receiving water quality and remediation capabilities. The purpose of this study is to compare two approaches of TMDL assignment for WQT policy in small catchment area of Haraz River, in north of Iran. At first, TMDLs are assigned uniformly for the whole point sources to keep the concentrations of BOD and dissolved oxygen (DO) at the standard level at checkpoint (terminus point). This was simply simulated and controlled by Qual2kw software. In the second scenario, TMDLs are assigned using multi objective particle swarm optimization (MOPSO) method in which the environmental violation at river basin and total treatment costs are minimized simultaneously. In both scenarios, the equity index and the WLA based on trading discharge permits (TDP) are calculated. The comparative results showed that using economically optimized TMDLs (2nd scenario) has slightly more cost savings rather than uniform TMDL approach (1st scenario). The former annually costs about 1 M$ while the latter is 1.15 M$. WQT can decrease these annual costs to 0.9 and 1.1 M$, respectively. In other word, these approaches may save 35 and 45% economically in comparison with command and control policy. It means that using multi objective decision support systems (DSS) may find more economical WLA, however its outcome is not necessarily significant in comparison with uniform TMDLs. This may be due to the similar impact factors of dischargers in small catchments. Conversely, using uniform TMDLs for WQT brings more equity that makes stakeholders not feel that much envious of difference between TMDL and WQT allocation. In addition, for this case, determination of TMDLs uniformly would be much easier for monitoring. Consequently, uniform TMDL for TDP market is recommended as a sustainable approach. However, economical TMDLs can be used for larger watersheds.

Keywords: waste load allocation (WLA), water quality trading (WQT), total maximum daily loads (TMDLs), Haraz River, multi objective particle swarm optimization (MOPSO), equity

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Authors: Janne Engblom, Elias Oikarinen

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The understanding of housing price dynamics is of importance to a great number of agents: to portfolio investors, banks, real estate brokers and construction companies as well as to policy makers and households. A panel dataset is one that follows a given sample of individuals over time, and thus provides multiple observations on each individual in the sample. Panel data models include a variety of fixed and random effects models which form a wide range of linear models. A special case of panel data models is dynamic in nature. A complication regarding a dynamic panel data model that includes the lagged dependent variable is endogeneity bias of estimates. Several approaches have been developed to account for this problem. In this paper, the panel models were estimated using the Common Correlated Effects estimator (CCE) of dynamic panel data which also accounts for cross-sectional dependence which is caused by common structures of the economy. In presence of cross-sectional dependence standard OLS gives biased estimates. In this study, U.S housing price dynamics were examined empirically using the dynamic CCE estimator with first-difference of housing price as the dependent and first-differences of per capita income, interest rate, housing stock and lagged price together with deviation of housing prices from their long-run equilibrium level as independents. These deviations were also estimated from the data. The aim of the analysis was to provide estimates with comparisons of estimates between 1980-1999 and 2000-2012. Based on data of 50 U.S cities over 1980-2012 differences of short-run housing price dynamics estimates were mostly significant when two time periods were compared. Significance tests of differences were provided by the model containing interaction terms of independents and time dummy variable. Residual analysis showed very low cross-sectional correlation of the model residuals compared with the standard OLS approach. This means a good fit of CCE estimator model. Estimates of the dynamic panel data model were in line with the theory of housing price dynamics. Results also suggest that dynamics of a housing market is evolving over time.

Keywords: dynamic model, panel data, cross-sectional dependence, interaction model

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Authors: David Gamboa, Bernardo Herrera, Karen Cacua

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Nanomaterials have been explored as alternatives to reduce particulate matter from diesel engines, which is one of the most common pollutants of the air in urban centers. However, the use of nanomaterials as additives for diesel has to overcome the instability of the dispersions to be considered viable for commercial use. In this work, functionalization of carbon nanotubes with amide groups was performed to improve the stability of these nanomaterials in a mix of 90% petroleum diesel and 10% palm oil biodiesel (B10) in concentrations of 50 and 100 ppm. The resulting nano fuel was used as the fuel for a stationary internal combustion engine, where the particulate matter, NOx, and CO were measured. The results showed that the use of amide groups significantly enhances the time for the carbon nanotubes to remain suspended in the fuel, and at the same time, these nanomaterials helped to reduce the particulate matter and NOx emissions. However, the CO emissions with nano fuel were higher than those ones with the combustion of B10. These results suggest that carbon nanotubes have thermal and catalytic effects on the combustion of B10.

Keywords: carbon nanotubes, diesel, internal combustion engine, particulate matter

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Authors: Sultan Haji Shube

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Woodland ecosystems of semiarid rift valley of Ethiopia play a significant role in climate change mitigation by sequestering and storing more carbon. This study was conducted in Gidabo river sub-basins southeastern rift-valley escarpment of Ethiopian. It aims to estimate biomass and carbon stocks of woodlands and its implications for climate change mitigation. A total of 44 sampling plots (900m²each) were systematically laid in the woodland for vegetation and environmental data collection. A composite soil sample was taken from five locations main plot. Both disturbed and undisturbed soil samples were taken at two depths using soil auger and core-ring sampler, respectively. Allometric equation was used to estimate aboveground biomass while root-to-shoot ratio method and Walkley-Black method were used for belowground biomass and SOC, respectively. Result revealed that the totals of the study site was 17.05t/ha, of which 14.21t/ha was belonging for AGB and 2.84t/ha was for BGB. Moreover, 2224.7t/ha total carbon stocks was accumulated with an equivalent carbon dioxide of 8164.65t/ha. This study also revealed that more carbon was accumulated in the soil than the biomass. Both aboveground and belowground carbon stocks were decreased with increase in altitude while SOC stocks were increased. The AGC and BGC stocks were higher in the lower slope classes. SOC stocks were higher in the higher slope classes than in the lower slopes. Higher carbon stock was obtained from woody plants that had a DBH measure of >16cm and situated at plots facing northwest. Overall, study results will add up information about carbon stock potential of the woodland that will serve as a base line scenario for further research, policy makers and land managers.

Keywords: allometric equation, climate change mitigation, soil organic carbon, woodland

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Authors: Saja M. Nabat Al-Ajrash, Charles Browning, Rose Eckerle, Li Cao, Robyn L. Bradford, Donald Klosterman

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An additive manufacturing process and subsequent pyrolysis cycle were used to fabricate SiC matrix/carbon fiber hybrid composites. The matrix was fabricated using a mixture of preceramic polymer and acrylate monomers, while polyacrylonitrile (PAN) precursor was used to fabricate fibers via electrospinning. The precursor matrix and reinforcing fibers at 0, 2, 5, or 10 wt% were printed using digital light processing, and both were simultaneously pyrolyzed to yield the final ceramic matrix composite structure. After pyrolysis, XRD and SEAD analysis proved the existence of SiC nanocrystals and turbostratic carbon structure in the matrix, while the reinforcement phase was shown to have a turbostratic carbon structure similar to commercial carbon fibers. Thermogravimetric analysis (TGA) in the air up to 1400 °C was used to evaluate the oxidation resistance of this material. TGA results showed some weight loss due to oxidation of SiC and/or carbon up to about 900 °C, followed by weight gain to about 1200 °C due to the formation of a protective SiO2 layer. Although increasing carbon fiber content negatively impacted the total mass loss for the first heating cycle, exposure of the composite to second-run air revealed negligible weight chance. This is explained by SiO2 layer formation, which acts as a protective film that prevents oxygen diffusion. Oxidation of SiC and the formation of a glassy layer has been proven to protect the sample from further oxidation, as well as provide healing of surface cracks and defects, as revealed by SEM analysis.

Keywords: silicon carbide, carbon fibers, additive manufacturing, composite

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Authors: Montserrat Guillen, Stephania Mosquera-Lopez, Jorge Uribe

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An empirical study of market risk transmission between electricity prices in the Nord Pool interconnected market is done. Crucially, it is differentiated between risk propagation in the two tails of the price variation distribution. Thus, the downside risk from upside risk spillovers is distinguished. The results found document an asymmetric nature of risk and risk propagation in the two tails of the electricity price log variations. Risk spillovers following price increments in the market are transmitted to a larger extent than those after price reductions. Also, asymmetries related to both, the size of the transaction area and related to whether a given area behaves as a net-exporter or net-importer of electricity, are documented. For instance, on the one hand, the bigger the area of the transaction, the smaller the size of the volatility shocks that it receives. On the other hand, exporters of electricity, alongside countries with a significant dependence on renewable sources, tend to be net-transmitters of volatility to the rest of the system. Additionally, insights on the predictive power of positive and negative semivariances for future market volatility are provided. It is shown that depending on the forecasting horizon, downside and upside shocks to the market are featured by a distinctive persistence, and that upside volatility impacts more on net-importers of electricity, while the opposite holds for net-exporters.

Keywords: electricity prices, realized volatility, semivariances, volatility spillovers

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Authors: Prem Mohan, Namrata Jariwala

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In recent years 10000 dyes are approximately used by dying industry which makes dyeing wastewater more complex in nature. It is very difficult to treat dyeing wastewater by conventional methods. Here an attempt has been made to treat dyeing wastewater by the conventional and advanced method for removal of COD. Fenton process is the advanced method and activated carbon treatment is the conventional method. Experiments have been done on synthetic wastewater prepared from three different dyes; acidic, disperse and reactive. Experiments have also been conducted on real effluent obtained from industry. The optimum dose of catalyst and hydrogen peroxide in Fenton process and optimum activated carbon dose for each of these wastewaters were obtained. In Fenton treatment, COD removal was obtained up to 95% whereas 70% removal was obtained with activated carbon treatment.

Keywords: activated carbon, advanced oxidation process, dyeing waste water, fenton oxidation process

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Authors: Eman Alzahrani

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Date palm trees are abundant and cheap natural resources in Saudi Arabia. In this study, an activated carbon was prepared from palm trunks by chemical processes. The chemical activation was performed by impregnation of the raw materials after grinding with H3PO4 solution (63%), followed by placing of the sample solution on a muffle furnace at 400ºC for 30 min, and then at 800ºC for 10 min. The morphology of the fabricated material was checked using scanning electron microscopy that showed the rough surfaces on the carbon samples. The use of fabricated activated carbon for removal of eosin dye from aqueous solutions at different contact time, initial dye concentration, pH and adsorbent doses was investigated. The experimental results show that the adsorption process attains equilibrium within 20 min. The adsorption isotherm equilibrium was studied by means of the Langmuir and Freundlich isotherms, and it was found that the data fit the Langmuir isotherm equation with maximum monolayer adsorption capacity of 126.58 mg g-1. The results indicated that the home made activated carbon prepared from palm trunks has the ability to remove eosin dye from aqueous solution and it will be a promising adsorbent for the removal of harmful dyes from waste water.

Keywords: activated carbon, date palm trunks, H3PO4 activation, adsorption, dye removal, eosin dye, isotherm

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Authors: Glykeria A. Visvini, George N. Mathioudakis, Amaia Soto Beobide, Aris E. Giannakas, George A. Voyiatzis

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Polymeric nanocomposites have generated considerable interest in both academic research and industry because their properties can be tailored by adjusting the type & concentration of nano-inclusions, resulting in complementary and adaptable characteristics. The exceptional and/or unique properties of the nanocomposites, including the high mechanical strength and stiffness, the ease of processing, and their lightweight nature, are attributed to the high surface area, the electrical and/or thermal conductivity of the nano-fillers, which make them appealing materials for a wide range of engineering applications. Polymeric «breathable» membranes enabling water vapor permeability (WVP) can be designed either by using micro/nano-fillers with the ability to interrupt the continuity of the polymer phase generating micro/nano-porous structures or/and by creating micro/nano-pores into the composite material by uniaxial/biaxial stretching. Among the nanofillers, carbon nanotubes (CNTs) exhibit particular high WVP and for this reason, they have already been proposed for gas separation membranes. In a similar context, they could prove to be promising alternative/complementary filler nano-materials, for the development of "breathable" products. Polypropylene (PP) is a commonly utilized thermoplastic polymer matrix in the development of composite films, due to its easy processability and low price, combined with its good chemical & physical properties. PP is known to present several crystalline phases (α, β and γ), depending on the applied treatment process, which have a significant impact on its final properties, particularly in terms of WVP. Specifically, the development of the β-phase in PP in combination with stretching is anticipated to modify the crystalline behavior and extend the microporosity of the polymer matrix exhibiting enhanced WVP. The primary objective of this study is to develop breathable nano-carbon based (functionalized MWCNTs) PP composite membranes, potentially also avoiding the stretching process. This proposed alternative is expected to have a better performance/cost ratio over current stretched PP/CaCO3 composite benchmark membranes. The focus is to investigate the impact of both β-nucleator(s) and nano-carbon fillers on water vapor transmission rate properties of relevant PP nanocomposites.

Keywords: carbon nanotubes, nanocomposites, nucleating agents, polypropylene, water vapor permeability

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Authors: Melek Akay

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Turkey's agricultural commodity prices are prone to fluctuation but have gradually over time. A considerable amount of literature examines the changes in these prices by dealing with other commodities such as energy. Links between agricultural and energy markets have therefore been extensively investigated. Since red meat prices are becoming increasingly volatile in Turkey, this paper analyses the price volatility of veal, lamb and the relationship between red meat and crude oil, exchange rates by applying the generalize all period unconstraint volatility model, which generalises the GARCH (p, q) model for analysing weekly data covering a period of May 2006 to February 2017. Empirical results show that veal and lamb prices present volatility during the last decade, but particularly between 2009 and 2012. Moreover, oil prices have a significant effect on veal and lamb prices as well as their previous periods. Consequently, our research can lead policy makers to evaluate policy implementation in the appropriate way and reduce the impacts of oil prices by supporting producers.

Keywords: red meat price, volatility, crude oil, exchange rates, GARCH models, Turkey

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Authors: Masao Fujisawa, Hirohito Ikeda, Tomonori Ohata, Miho Yukawa, Hatsumi Aki, Takayoshi Kimura

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We attempted to predict adsorption coefficients by utilizing dispersion energies. We performed liquid-phase free energy calculations based on gas-phase geometries of organic compounds using the DFT and studied the relationship between the adsorption of organic compounds by activated carbon and dispersion energies of the organic compounds. A linear correlation between absorption coefficients and dispersion energies was observed.

Keywords: activated carbon, adsorption, prediction, dispersion energy

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Authors: Lubna Naz, Munir Ahmad, G. M. Arif

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This study analyzes static and dynamic welfare impacts of food price changes for various landholding groups in Pakistan. The study uses three classifications of land ownership, landless, small landowners and large landowners, for analysis. The study uses Panel Survey, Pakistan Rural Household Survey (PRHS) of Pakistan Institute of Development Economics Islamabad, of rural households from two largest provinces (Sindh and Punjab) of Pakistan. The study uses all three waves (2001, 2004 and 2010) of PRHS. This research work makes three important contributions in literature. First, this study uses Quadratic Almost Ideal Demand System (QUAIDS) to estimate demand functions for eight food groups-cereals, meat, milk and milk products, vegetables, cooking oil, pulses and other food. The study estimates food demand functions with Nonlinear Seemingly Unrelated (NLSUR), and employs Lagrange Multiplier and test on the coefficient of squared expenditure term to determine inclusion of squared expenditure term. Test results support the inclusion of squared expenditure term in the food demand model for each of landholding groups (landless, small landowners and large landowners). This study tests for endogeneity and uses control function for its correction. The problem of observed zero expenditure is dealt with a two-step procedure. Second, it creates low price and high price periods, based on literature review. It uses elasticity coefficients from QUAIDS to analyze static and dynamic welfare effects (first and second order Tylor approximation of expenditure function is used) of food price changes across periods. The study estimates compensation variation (CV), money metric loss from food price changes, for landless, small and large landowners. Third, this study compares the findings on welfare implications of food price changes based on QUAIDS with the earlier research in Pakistan, which used other specification of the demand system. The findings indicate that dynamic welfare impacts of food price changes are lower as compared to static welfare impacts for all landholding groups. The static and dynamic welfare impacts of food price changes are highest for landless. The study suggests that government should extend social security nets to landless poor and categorically to vulnerable landless (without livestock) to redress the short-term impact of food price increase. In addition, the government should stabilize food prices and particularly cereal prices in the long- run.

Keywords: QUAIDS, Lagrange multiplier, NLSUR, and Tylor approximation

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Authors: Faustina Masocha, Vusani Moyo

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For decades, dividend announcements have been presumed to contain important signals about the future prospects of companies. Similarly, the same has been presumed about management earnings announcements. Despite both dividend and earnings announcements being considered informative, a number of researchers questioned their credibility and found both to contain short-term signals. Pertaining to dividend announcements, some authors argued that although they might contain important information that can result in changes in share prices, which consequently results in the accumulation of abnormal returns, their degree of informativeness is less compared to other signaling tools such as earnings announcements. Yet, this claim in favor has been refuted by other researchers who found the effect of earnings to be transitory and of little value to shareholders as indicated by the little abnormal returns earned during the period surrounding earnings announcements. Considering the above, it is apparent that both dividends and earnings have been hypothesized to have a signaling impact. This prompts one to question which between these two signaling tools is more informative. To answer this question, two follow-up questions were asked. The first question sought to determine the event which results in the most effect on share prices, while the second question focused on the event that influenced trading volume the most. To answer the first question and evaluate the effect that each of these events had on share prices, an event study methodology was employed on a sample made up of the top 10 JSE-listed companies for data collected from 2012 to 2019 to determine if shareholders gained abnormal returns (ARs) during announcement dates. The event that resulted in the most persistent and highest amount of ARs was considered to be more informative. Looking at the second follow-up question, an investigation was conducted to determine if either dividends or earnings announcements influenced trading patterns, resulting in abnormal trading volumes (ATV) around announcement time. The event that resulted in the most ATV was considered more informative. Using an estimation period of 20 days and an event window of 21 days, and hypothesis testing, it was found that announcements pertaining to the increase of earnings resulted in the most ARs, Cumulative Abnormal Returns (CARs) and had a lasting effect in comparison to dividend announcements whose effect lasted until day +3. This solidifies some empirical arguments that the signaling effect of dividends has become diminishing. It was also found that when reported earnings declined in comparison to the previous period, there was an increase in trading volume, resulting in ATV. Although dividend announcements did result in abnormal returns, they were lesser than those acquired during earnings announcements which refutes a number of theoretical and empirical arguments that found dividends to be more informative than earnings announcements.

Keywords: dividend signaling, event study methodology, information content of earnings, signaling theory

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Authors: Si Chen, Le Zhang, Xian He

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The research explored the influences of public open space system on housing price through hedonic models, in order to support better open space plans and economic policies. We have three initial hypotheses: 1) public open space system has an overall positive influence on surrounding housing prices. 2) Different public open space types have different levels of influence on motivating surrounding housing prices. 3) Walking and driving accessibilities from property to public open spaces have different statistical relation with housing prices. Cook County, Illinois, was chosen to be a study area since data availability, sufficient open space types, and long-term open space preservation strategies. We considered the housing attributes, driving and walking accessibility scores from houses to nearby public open spaces, and driving accessibility scores to hospitals as influential features and used real housing sales price in 2010 as a dependent variable in the built hedonic model. Through ordinary least squares (OLS) regression analysis, General Moran’s I analysis and geographically weighted regression analysis, we observed the statistical relations between public open spaces and housing sale prices in the three built hedonic models and confirmed all three hypotheses.

Keywords: hedonic model, public open space, housing sale price, regression analysis, accessibility score

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Authors: Xuechen Gui, Senmiao Li, Qi Kan

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Dormitory is a place for college students to study and live their daily life. The indoor environment quality of the dormitory is closely related to the physical health, mood status and work efficiency of the dormitory students. In this paper, the temperature, humidity and carbon dioxide concentration of the dormitory in Zijingang campus of Zhejiang University have been tested for three days. The experimental results show that the concentration of carbon dioxide is related to the size of the window opens and the number of dormitory staff, and presents a high concentration of carbon dioxide at nighttime while a low concentration at daytime. In terms of temperature and humidity, there is no significant difference between different orientation and time and presents a small humidity at daytime while a high humidity at nighttime.

Keywords: dormitory, indoor environment, temperature, relative humidity, carbon dioxide concentration

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Authors: Lucija Pustahija, Christine Bandl, Wolfgang Kern, Christian Mitterer

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Concerning today´s ecological demands, producing reliable materials from sustainable resources is a continuously developing topic. Such an example is the production of carbon materials via pyrolysis of natural gases or biomass. The amazing properties of pyrolytic carbon are utilized in various fields, where in particular the application in building industry is a promising way towards the utilization of pyrolytic carbon and composites based on pyrolytic carbon. For many applications, surface modification of carbon is an important step in tailoring its properties. Therefore, in this paper, an investigation of different oxidation methods was performed to prepare the carbon surface before functionalizing it with organosilanes, which act as coupling agents for epoxy and polyurethane resins. Made in such a way, a building material based on carbon composites could be used as a lightweight, durable material that can be applied where water or air filtration / purification is needed. In this work, both wet and dry oxidation were investigated. Wet oxidation was first performed in solutions of nitric acid (at 120 °C and 150 °C) followed by oxidation in hydrogen peroxide (80 °C) for 3 and 6 h. Moreover, a hydrothermal method (under oxygen gas) in autoclaves was investigated. Dry oxidation was performed under plasma and corona discharges, using different power values to elaborate optimum conditions. Selected samples were then (in preliminary experiments) subjected to a silanization of the surface with amino and glycidoxy organosilanes. The functionalized surfaces were examined by X-ray photon spectroscopy and Fourier transform infrared spectroscopy spectroscopy, and by scanning electron microscopy. The results of wet and dry oxidation methods indicated that the creation of functionalities was influenced by temperature, the concentration of the reagents (and gases) and the duration of the treatment. Sequential oxidation in aq. HNO₃ and H₂O₂ results in a higher content of oxygen functionalities at lower concentrations of oxidizing agents, when compared to oxidizing the carbon with concentrated nitric acid. Plasma oxidation results in non-permanent functionalization on the carbon surface, by which it´s necessary to find adequate parameters of oxidation treatments that could enable longer stability of functionalities. Results of the functionalization of the carbon surfaces with organosilanes will be presented as well.

Keywords: building materials, dry oxidation, organosilanes, pyrolytic carbon, resins, surface functionalization, wet oxidation

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Authors: M. Kouhirostamkolaei, M. Kouhirostami, M. Sam, J. Woo, A. T. Asutosh, J. Li, C. Kibert

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Construction is one of the most energy consumed activities in the urban environment that results in a significant amount of greenhouse gas emissions around the world. Thus, the impact of the construction industry on global warming is undeniable. Thus, reducing building energy consumption and mitigating carbon production can slow the rate of global warming. The purpose of this study is to determine the amount of energy consumption and carbon dioxide production during the operation phase and the impact of using new shells on energy saving and carbon footprint. Therefore, a residential building with a re-enforced concrete structure is selected in Babolsar, Iran. DesignBuilder software has been used for one year of building operation to calculate the amount of carbon dioxide production and energy consumption in the operation phase of the building. The primary results show the building use 61750 kWh of energy each year. Computer simulation analyzes the effect of changing building shells -using XPS polystyrene and new electrochromic windows- as well as changing the type of lighting on energy consumption reduction and subsequent carbon dioxide production. The results show that the amount of energy and carbon production during building operation has been reduced by approximately 70% by applying the proposed changes. The changes reduce CO₂e to 11345 kg CO₂/yr. The result of this study helps designers and engineers to consider material selection’s process as one of the most important stages of design for improving energy performance of buildings.

Keywords: construction materials, green construction, energy simulation, carbon footprint, energy saving, concrete structure, designbuilder

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Authors: Shahla Hajializadeh, Maryam Hamedanlou

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Multiwall carbon nanotubes were chemically modified with amide groups for the purpose of enhancing their chemical affinity with waterborne polyurethane. In this study, a thermoplastic nanocomposite containing functionalized multiwall carbon nanotube/waterborne polyurethane (WBPU/MWNT) via in situ polymerization has been prepared. The impacts of MWNT addition on the morphology and electrical properties of nanocomposites were investigated. Micrographs of Scanning Electron Microscopy (SEM) prove that functionalized CNT can be effectively dispersed in WBPU matrix. The electrical conductivity of nanocomposites increased with the CNT contents in as such the nanocomposites containing 1 wt% of MWNT exhibited a conductivity nearly five orders of magnitude higher than the WBPU film.

Keywords: chemical functionalization, electrical properties, in situ polymerization, morphology, multiwall carbon nanotubes, waterborne polyurethane

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Authors: M. A. Karakassides, M. Baikousi, A. Kouloumpis, D. Gournis

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Nanocomposites of Carbon Nanorods (CNRs) with Polystyrene (PS), have been synthesized successfully by means of in situ polymerization process and characterized. Firstly, carbon nanorods with graphitic structure were prepared by the standard synthetic procedure of CMK-3 using MCM-41 as template, instead of SBA-15, and sucrose as carbon source. In order to create an organophilic surface on CNRs, two parts of modification were realized: surface chemical oxidation (CNRs-ox) according to the Staudenmaier’s method and the attachment of octadecylamine molecules on the functional groups of CNRs-ox (CNRs-ODA The nanocomposite materials of polystyrene with CNRs-ODA, were prepared by a solution-precipitation method at three nanoadditive to polymer loadings (1, 3 and 5 wt. %). The as derived nanocomposites were studied with a combination of characterization and analytical techniques. Especially, Fourier-transform infrared (FT-IR) and Raman spectroscopies were used for the chemical and structural characterization of the pristine materials and the derived nanocomposites while the morphology of nanocomposites and the dispersion of the carbon nanorods were analyzed by atomic force and scanning electron microscopy techniques. Tensile testing and thermogravimetric analysis (TGA) along with differential scanning calorimetry (DSC) were also used to examine the mechanical properties and thermal stability -glass transition temperature of PS after the incorporation of CNRs-ODA nanorods. The results showed that the thermal and mechanical properties of the PS/ CNRs-ODA nanocomposites gradually improved with increasing of CNRs-ODA loading.

Keywords: nanocomposites, polystyrene, carbon, nanorods

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Authors: R. Begum, M. M. R. Jahangir, M. Jahiruddin, M. R. Islam, M. M. Rahman, M. B. Hossain, P. Hossain

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Quantifying carbon (C) sequestration in soils is necessary to help better understand the effect of agricultural practices on the C cycle. The estimated contribution of agricultural carbon dioxide (CO₂) and methane (CH₄) to global warming potential (GWP) has a wide range. The underlying causes of this huge uncertainty are the difficulties to predict the regional CO₂ and CH₄ loss due to the lack of experimental evidence on CO₂ and CH₄ emissions and associated drivers. The CH₄ and CO₂ emissions were measured in irrigated wheat in subtropical floodplain soils which have been under two soil disturbance levels (strip vs. conventional tillage; ST vs. CT being both with 30% residue retention) and three N fertilizer rates (60, 100, and 140% of the recommended N fertilizer dose, RD) in annual wheat (Triticum aestivum)-mungbean (Vigna radiata)-rice (Oryza sativa L) for seven consecutive years. The highest CH₄ and CO₂ emission peak was observed on day 3 after urea application in both tillages except CO₂ flux in CT. Nitrogen fertilizer application rate significantly influenced mean and cumulative CH₄ and CO₂ fluxes. The CH₄ and CO₂ fluxes decreased in an optimum dose of N fertilizer except for ST for CH₄. The CO₂ emission significantly showed higher emission at minimum (60% of RD) fertilizer application at both tillages. Soil microbial biomass carbon (MBC), organic carbon (SOC), Particulate organic carbon (POC), permanganate oxidisable carbon (POXC), basal respiration (BR) were significantly higher in ST which were negative and significantly correlated with CO₂. However, POC and POXC were positively and significantly correlated with CH₄ emission.

Keywords: carbon dioxide emissions, methane emission, nitrogen rate, tillage

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Authors: B. Palanikumaran, N. Kanagaraj, M. Sangareswari, V. Sailaja, Kapil Sihag

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The present study aimed to estimate the carbon sequestration potential of major forest types present in the foothills of Nilgiri biosphere reserve. The total biomass carbon stock was estimated in tropical thorn forest, tropical dry deciduous forest and tropical moist deciduous forest as 14.61 t C ha⁻¹ 75.16 t C ha⁻¹ and 187.52 t C ha⁻¹ respectively. The density and basal area were estimated in tropical thorn forest, tropical dry deciduous forest, tropical moist deciduous forest as 173 stems ha⁻¹, 349 stems ha⁻¹, 391 stems ha⁻¹ and 6.21 m² ha⁻¹, 31.09 m² ha⁻¹, 67.34 m² ha⁻¹ respectively. The soil carbon stock of different forest ecosystems was estimated, and the results revealed that tropical moist deciduous forest (71.74 t C ha⁻¹) accounted for more soil carbon stock when compared to tropical dry deciduous forest (31.80 t C ha⁻¹) and tropical thorn forest (3.99 t C ha⁻¹). The tropical moist deciduous forest has the maximum annual leaf litter which was 12.77 t ha⁻¹ year⁻¹ followed by 6.44 t ha⁻¹ year⁻¹ litter fall of tropical dry deciduous forest. The tropical thorn forest accounted for 3.42 t ha⁻¹ yr⁻¹ leaf litter production. The leaf litter carbon stock of tropical thorn forest, tropical dry deciduous forest and tropical moist deciduous forest found to be 1.02 t C ha⁻¹ yr⁻¹ 2.28 t⁻¹ C ha⁻¹ yr⁻¹ and 5.42 t C ha⁻¹ yr⁻¹ respectively. The results explained that decomposition percent at the soil surface in the following order.tropical dry deciduous forest (77.66 percent) > tropical thorn forest (69.49 percent) > tropical moist deciduous forest (63.17 percent). Decomposition percent at soil subsurface was studied, and the highest decomposition percent was observed in tropical dry deciduous forest (80.52 percent) followed by tropical moist deciduous forest (77.65 percent) and tropical thorn forest (72.10 percent). The decomposition percent was higher at soil subsurface. Among the three forest type, tropical moist deciduous forest accounted for the highest bacterial (59.67 x 105cfu’s g⁻¹ soil), actinomycetes (74.87 x 104cfu’s g⁻¹ soil) and fungal (112.60 x10³cfu’s g⁻¹ soil) population. The overall observation of the study helps to conclude that, the tropical moist deciduous forest has the potential of storing higher carbon content as biomass with the value of 264.68 t C ha⁻¹ and microbial populations.

Keywords: basal area, carbon sequestration, carbon stock, Nilgiri biosphere reserve

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Authors: Ali Hojati Najafabadi, Mohamad Hosein Rahmati, Seyed Ali Madanizadeh

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Governments execute energy subsidy reforms by either increasing energy prices or reducing energy price dispersion. These policies make less use of energy per plant (intensive margin), vary the total number of firms (extensive margin), promote technological progress (technology channel), and make additional resources to redistribute (resource channel). We estimate a structural dynamic firm model with endogenous technology adaptation using data from the manufacturing firms in Iran and a country ranked the second-largest energy subsidy plan by the IMF. The findings show significant dynamics and distributional effects due to an energy reform plan. The price elasticity of energy consumption in the industrial sector is about -2.34, while it is -3.98 for large firms. The dispersion elasticity, defined as the amounts of changes in energy consumption by a one-percent reduction in the standard error of energy price distribution, is about 1.43, suggesting significant room for a distributional policy. We show that the intensive margin is the main driver of energy price elasticity, whereas the other channels mostly offset it. In contrast, the labor response is mainly through the extensive margin. Total factor productivity slightly improves in light of the reduction in energy consumption if, at the same time, the redistribution policy boosts the aggregate demands.

Keywords: energy reform, firm dynamics, structural estimation, subsidy policy

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Authors: Taher Abofol, Eldad Yechiam, Thorsten Pachur

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In four studies, we examined whether seller and buyers differ not only in subjective price levels for objects (i.e., the endowment effect) but also in their relative accuracy given objects varying in expected value. If, as has been proposed, sellers stand to accrue a more substantial loss than buyers do, then their pricing decisions should be more sensitive to expected-value differences between objects. This is implied by loss aversion due to the steeper slope of prospect theory’s value function for losses than for gains, as well as by loss attention account, which posits that losses increase the attention invested in a task. Both accounts suggest that losses increased sensitivity to relative values of different objects, which should result in better alignment of pricing decisions to the objective value of objects on the part of sellers. Under loss attention, this characteristic should only emerge under certain boundary conditions. In Study 1 a published dataset was reanalyzed, in which 152 participants indicated buying or selling prices for monetary lotteries with different expected values. Relative EV sensitivity was calculated for participants as the Spearman rank correlation between their pricing decisions for each of the lotteries and the lotteries' expected values. An ANOVA revealed a main effect of perspective (sellers versus buyers), F(1,150) = 85.3, p < .0001 with greater EV sensitivity for sellers. Study 2 examined the prediction (implied by loss attention) that the positive effect of losses on performance emerges particularly under conditions of time constraints. A published dataset was reanalyzed, where 84 participants were asked to provide selling and buying prices for monetary lotteries in three deliberations time conditions (5, 10, 15 seconds). As in Study 1, an ANOVA revealed greater EV sensitivity for sellers than for buyers, F(1,82) = 9.34, p = .003. Importantly, there was also an interaction of perspective by deliberation time. Post-hoc tests revealed that there were main effects of perspective both in the condition with 5s deliberation time, and in the condition with 10s deliberation time, but not in the 15s condition. Thus, sellers’ EV-sensitivity advantage disappeared with extended deliberation. Study 3 replicated the design of study 1 but administered the task three times to test if the effect decays with repeated presentation. The results showed that the difference between buyers and sellers’ EV sensitivity was replicated in repeated task presentations. Study 4 examined the loss attention prediction that EV-sensitivity differences can be eliminated by manipulations that reduce the differential attention investment of sellers and buyers. This was carried out by randomly mixing selling and buying trials for each participant. The results revealed no differences in EV sensitivity between selling and buying trials. The pattern of results is consistent with an attentional resource-based account of the differences between sellers and buyers. Thus, asking people to price, an object from a seller's perspective rather than the buyer's improves the relative accuracy of pricing decisions; subtle changes in the framing of one’s perspective in a trading negotiation may improve price accuracy.

Keywords: decision making, endowment effect, pricing, loss aversion, loss attention

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Authors: Alireza Mohadesi, Ashraf Salmanipour

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A chemically modified glassy carbon electrode for electrocatalytic determination of sulfide was developed using multiwalled carbon nanotubes (MWCNTs) covalently immobilized with 2,6-dichlorophenolindophenol (DPIP). The immobilization of 2,6-dichlorophenolindophenol with MWCNTs was performed with a new synthetic strategy and characterized by UV–visible absorption spectroscopy, Fourier transform infrared spectroscopy and cyclic voltammetry. The cyclic voltammetric response of DPIP grafted onto MWCNTs indicated that it promotes the low potential, sensitive and stable determination of sulfide. The dependence of response currents on the concentration of sulfide was examined and was linear in the range of 10 - 1100 µM. The detection limit of sulfide was 5 µM and RSD for 100 and 500 µM sulfides were 1.8 and 1.3 %. Many interfering species had little or no effect on the determination of sulfide. The procedure was applied to determination of sulfide in waters samples.

Keywords: functionalized carbon nanotubes, sulfide, biological samples, 2, 6-dichlorophenolindophenol

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Authors: Tijjani Bashir Musa

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The recent global crisis which suddenly results to Nigerian stock market crash revealed some peculiarities of Nigerian firms. Some firms in Nigeria are performing but their stock prices are not increasing while some firms are at the brink of collapse but their stock prices are increasing. Thus, this study examines the relationship between firm performance and stock price in Nigeria. The study covered the period of 2005 to 2009. This period is the period of stock boom and also marked the period of stock market crash as a result of global financial meltdown. The study is a panel study. A total of 140 firms were sampled from 216 firms listed on the Nigerian Stock Exchange (NSE). Data were collected from secondary source. These data were divided into four strata comprising the most performing stock, the least performing stock, most performing firms and the least performing firms. Each stratum contains 35 firms with characteristic of most performing stock, most performing firms, least performing stock and least performing firms. Multiple linear regression models were used to analyse the data while statistical/econometrics package of Stata 11.0 version was used to run the data. The study found that, relationship exists between selected firm performance parameters (operating efficiency, firm profit, earning per share and working capital) and stock price. As such firm performance gave sufficient information or has predictive power on stock prices movements in Nigeria for all the years under study.. The study recommends among others that Managers of firms in Nigeria should formulate policies and exert effort geared towards improving firm performance that will enhance stock prices movements.

Keywords: firm, Nigeria, performance, stock price

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Authors: Ramin Khamedi, Isa Ahmadi

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In this study acoustic emission (AE) signals obtained during deformation and fracture of two types of ferrite-martensite dual phase steels (DPS) specimens have been analyzed in frequency domain. For this reason two low carbon steels with various amounts of carbon were chosen, and intercritically heat treated. In the introduced method, identifying the mechanisms of failure in the various phases of DPS is done. For this aim, AE monitoring has been used during tensile test of several DPS with various volume fraction of the martensite (VM) and attempted to relate the AE signals and failure mechanisms in these steels. Different signals, which referred to 2-3 micro-mechanisms of failure due to amount of carbon and also VM have been seen. By Fast Fourier Transformation (FFT) of signals in distinct locations, an excellent relationship between peak frequencies in these areas and micro-mechanisms of failure were seen. The results were verified by microscopic observations (SEM).

Keywords: acoustic emission, dual phase steels, deformation, failure, fracture

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Authors: Jorge M. Uribe

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We propose a methodology for setting the price of an insurance contract targeted to manage the risk associated with weather conditions that affect variable renewable energy generation. The methodology relies on conditional quantile regressions to estimate the weather risk of a solar panel. It is illustrated using real daily radiation and weather data for three cities in Spain (Valencia, Barcelona and Madrid) from February 2/2004 to January 22/2019. We also adapt the concepts of value at risk and expected short fall from finance to this context, to provide a complete panorama of what we label as weather risk. The methodology is easy to implement and can be used by insurance companies to price a contract with the aforementioned characteristics when data about similar projects and accurate cash flow projections are lacking. Our methodology assigns a higher price to an insurance product with the stated characteristics in Madrid, compared to Valencia and Barcelona. This is consistent with Madrid showing the largest interquartile range of operational deficits and it is unrelated to the average value deficit, which illustrates the importance of our proposal.

Keywords: insurance, weather, vre, risk

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Authors: Mario Gómez, José Carlos Rodríguez

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This paper analyzes the Environmental Kuznets Curve (EKC) hypothesis to test the causality relationship between economic activity, trade openness and carbon dioxide emissions in Mexico (1971-2011). The results achieved in this research show that there are three long-run relationships between production, trade openness, energy consumption and carbon dioxide emissions. The EKC hypothesis was not verified in this research. Indeed, it was found evidence of a short-term unidirectional causality from GDP and GDP squared to carbon dioxide emissions, from GDP, GDP squared and TO to EC, and bidirectional causality between TO and GDP. Finally, it was found evidence of long-term unidirectional causality from all variables to carbon emissions. These results suggest that a reduction in energy consumption, economic activity, or an increase in trade openness would reduce pollution.

Keywords: causality, cointegration, energy consumption, economic growth, environmental Kuznets curve

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Authors: P. Kanakasabapathy, S. Radhika

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In the competitive electricity market environment, the profit of the pumped-storage plant in the energy market can be maximized by operating it as a generator, when market clearing price is high and as a pump, to pump water from lower reservoir to upper reservoir, when the price is low. An optimal self-scheduling plan has been developed for a pumped-storage plant, carried out on weekly basis in order to maximize the profit of the plant, keeping into account of all the major uncertainties such as the sudden ancillary service delivery request and the price forecasting errors. For a pumped storage power plant to operate in a real time market successive self-scheduling has to be done by considering the forecast of the day-ahead market and the modified reservoir storage due to the ancillary service request of the previous day. Sliding Window Technique has been used for successive self-scheduling to ensure profit for the plant.

Keywords: ancillary services, BPSO, power system economics, self-scheduling, sliding window technique

Procedia PDF Downloads 382