Search results for: environmental valuation

Authors: Chiang-Lead Woo

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In reply to serious environmental problems, the Taiwan government quickly adjusted some articles to suit the needs of environmental protection recently, such as the amendment to article 190-1 of the Taiwan Criminal Code. The transfer of legislation comes as an improvement which canceled the limitation of ‘endangering public safety’. At the same time, the article 190-1 goes from accumulative concrete offense to abstract crime of danger. Thus, the public looks forward to whether environmental crime following the imposition of fines or penalties works efficiently in anti-pollution by the deterrent effects. However, according to the addition to article 38-2 of the Taiwan Criminal Code, the confiscation system seems controversial legislation to restrain ill-gotten gains. Most prior studies focused on comparisons with the Administrative Penalty Law and the Criminal Code in environmental issue in Taiwan; recently, more and more studies emphasize calculations on ill-gotten gains. Hence, this paper try to examine the deterrent effect in environmental crime by economic analysis of law and environmental economics perspective. This analysis shows that only if there is an extremely high probability (equal to 100 percent) of an environmental crime case being prosecuted criminally by Taiwan Environmental Protection Agency, the deterrent effects will work. Therefore, this paper suggests deliberating the confiscation system from supplementing the System of Environmental and Economic Accounting, reasonable deterrent fines, input management, real-time system for detection of pollution, and whistleblower system, environmental education, and modernization of law.

Keywords: confiscation, ecosystem services, environmental crime, ill-gotten gains, the deterrent effect, the system of environmental and economic accounting

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Authors: Mimi Hafizah Abdullah, Hanani Farhah Harun, Nik Ruzni Nik Idris

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With the implied volatility as an important factor in financial decision-making, in particular in option pricing valuation, and also the given fact that the pricing biases of Leland option pricing models and the implied volatility structure for the options are related, this study considers examining the implied adjusted volatility smile patterns and term structures in the S&P/ASX 200 index options using the different Leland option pricing models. The examination of the implied adjusted volatility smiles and term structures in the Australian index options market covers the global financial crisis in the mid-2007. The implied adjusted volatility was found to escalate approximately triple the rate prior the crisis.

Keywords: implied adjusted volatility, financial crisis, Leland option pricing models, Australian index options

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Authors: Andrzej Poszewiecki

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The presented paper contributes to the experimental current of research on privacy. The question of privacy is being discussed at length at present, primarily among lawyers and politicians. However, the matter of privacy has been of interest for economists for some time as well. The valuation of privacy by people is of great importance now. This article is about how people valuate their privacy. An experimental method has been utilised in the conducted research – the survey was carried out among customers of an online store, and the studied issue was whether their readiness to sell their data (WTA) was different from the willingness to buy data back (WTP). The basic aim of this article is to analyse whether people shopping on the Internet differentiate their privacy depending on whether they protect or sell it. The achieved results indicate the presence of major differences in this respect, which do not always come up with the original expectations. The obtained results have supported the hypothesis that people are more willing to sell their data than to repurchase them. However, the hypothesis that the value of proposed remuneration affects the willingness to sell/buy back personal data (one’s privacy) has not been supported.

Keywords: privacy, experimental economics, behavioural economics, internet

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Authors: Daniel Mokatsanyane, Johnny Jansen Van Rensburg

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This paper is a concise introduction of the risk management on the water derivatives market. Water, a new commodity in the market, is one of the most important commodity on earth. As important to life and planet as crops, metals, and energy, none of them matters without water. This paper presents a brief overview of water as a tradable commodity via a new first of its kind futures contract on the Nasdaq Veles California Water Index (NQH2O) derivative instrument, TheGeneralised Autoregressive Conditional Heteroscedasticity (GARCH) statistical model will be the used to measure the water price volatility of the instrument and its performance since it’s been traded. describe the main products and illustrate their usage in risk management and also discuss key challenges with modeling and valuation of water as a traded commodity and finally discuss how water derivatives may be taken as an alternative asset investment class.

Keywords: water derivatives, commodity market, nasdaq veles california water Index (NQH2O, water price, risk management

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Authors: Veronica Sri Lestari, Asmuddin Natsir, Hasmida Karim, Ian Patrick

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The research aimed at investigating the factors affecting consumers’ willingness to pay for chicken meat from biosecure farms. The research was conducted in Makassar City, South Sulawesi Province, Indonesia. Samples were taken using random sampling technique in two supermarkets namely Lotte Mart and Gelael. Total samples were 50 respondents which comprised the chicken meat consumers. To find out the consumers’ willingness to pay for chicken meat from the biosecure farms, the contingent valuation method was utilized. Data were collected through interviews and questionnaires. Probit Logistic was estimated to examine the factors affecting the consumers’ willingness to pay for at the premium price for chicken meat from the biosecure farms. The research indicates that the education and income affect significantly the consumers’ willingness to pay for chicken meat from the biosecure farms (P < 0.05). The results of the study will be beneficial for the policy makers, producers, consumers and those conducting research.

Keywords: biosecure, chicken, farms, consumer, willingness-to-pay

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Authors: Pavel Adámek

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This study examines perception of environmental approach in small and medium-sized enterprises (SMEs) – the process by which firms integrate environmental concern into business. Based on a review of the literature, the paper synthesizes focus on environmental issues with the reflection in a case study in the Czech Republic. Two themes of corporate environmentalism are discussed – corporate environmental orientation and corporate stances toward environmental concerns. It provides theoretical material on greening organizational culture that is helpful in understanding the response of contemporary business to environmental problems. We integrate theoretical predictions with empirical findings confronted with reality. Scales to measure these themes are tested in a survey of managers in 229 Czech firms. We used the process of in-depth questioning. The research question was derived and answered in the context of the corresponding literature and conducted research. A case study showed us that environmental approach is variety different (depending on the size of the firm) in SMEs sector. The results of the empirical mapping demonstrate Czech company’s approach to environment and define the problem areas and pinpoint the main limitation in the expansion of environmental aspects. We contribute to the debate for recognition of the particular role of environmental issues in business reality.

Keywords: corporate environmentalism, Czech Republic, empirical mapping, environmental performance

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Authors: Chandralal Shrestha

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In the developing countries like Nepal, the community based forest management approach has often been glorified as one of the best forest management alternatives to maximize the forest benefits. Though the approach has succeeded to construct a local level institution and conserve the forest biodiversity, how the local communities perceived about the forest benefits, the question always remains silent among the researchers and policy makers. The paper aims to explore the understanding of forest benefits from the perspective of local communities who used the forests in terms of institutional stability, equity and livelihood opportunity, and ecological stability. The paper revealed that the local communities have mixed understanding over the forest benefits. The institutional and ecological activities carried out by the local communities indicated that they have better understanding over the forest benefits. However, inequality while sharing the forest benefits, low pricing strategy and its negative consequences in valuation of forest products and limited livelihood opportunities indicated the poor understanding.

Keywords: community based forest management, forest benefits, lowland, Nepal

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Authors: CM van der Bank, Marjoné van der Bank

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International and domestic environmental law has evolved quite rapidly in the last few decades. At the international level the Stockholm and Rio Declarations paved the way for a broad based consensus of the international community on environmental issues and principles. At the Domestic level also many states have incorporated environmental protection in their constitutions and even more states are doing the same at least in their domestic legislations. In this process of evolution environmental law has unleashed a number of novel principles such as; the participatory principle, the polluter pays principle, the precautionary principle, the inter-generational and intra-generational principles, the prevention principle, the sustainable development principle and so on.

Keywords: environment, human rights, international law, protection

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Authors: Yuri Katz, Kun Liu, Arunram Atmacharan

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Due to illiquidity, mispricing on Credit Markets is inevitable. This creates huge challenges to banks and investors as they seek to find new ways of risk valuation and portfolio management in a post-credit crisis world. Here, we analyze the difference in behavior of the spread-to-maturity in investment and high-yield categories of US corporate bonds between 2014 and 2023. Deviation from the theoretical dependency of this measure in the universe under study allows to identify multiple cases of mispriced credit risk. Remarkably, we observe mispriced bonds in both categories of credit ratings. This identification is supported by the application of the state-of-the-art machine learning model in more than 90% of cases. Noticeably, the ML-driven model-based forecasting of a category of bond’s credit ratings demonstrate an excellent out-of-sample accuracy (AUC = 98%). We believe that these results can augment conventional valuations of credit portfolios.

Keywords: credit risk, credit ratings, bond pricing, spread-to-maturity, machine learning

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Authors: Edinei Coser, Cátia Regina Silva de Carvalho Pinto, Kleber Isaac Silva de Souza

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The road transportation system is an integral part of the Brazilian economy, so investing in this sector is paramount. Despite being a significant contributor to national and regional development, implementing road infrastructures brings about significant environmental changes, resulting in negative impacts that need to be mitigated through environmental licensing. However, by considering potential environmental impacts from a strategic perspective earlier, we can ensure that the sustainable development resulting from investments in this sector is more efficient. Therefore, this work aims to incorporate strategic environmental assessment into the road transportation system in the state of Santa Catarina using a tool that evaluates the entire territory. This tool analyzes 15 qualitative socio-environmental factors that may complicate environmental licensing and project implementation, with the help of multi-criteria analysis based on AHP and geographic information systems with Python, which presents a surface map of environmental cost for Santa Catarina state in Brazil. This map represents how environmental restrictions are spatially distributed in the territory and can be used for governments and decision-makers to assess potential areas for road implementation or paving, evaluate and propose road corridors, propose, promote, and evaluate risks for governmental programs and investments, set environmental management guidelines and enhance contracting and environmental assessment processes.

Keywords: environmental impact assessment., GIS, highways, multi-criteria analysis, strategic environmental assessment

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Authors: Raj Kumari Bahl, Sotirios Sabanis

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In this paper, we are concerned with the valuation of the first Catastrophic Mortality Bond that was launched in the market namely the Swiss Re Mortality Bond 2003. This bond encapsulates the behavior of a well-defined mortality index to generate payoffs for the bondholders. Pricing this bond is a challenging task. We adapt the payoff of the terminal principal of the bond in terms of the payoff of an Asian put option and present an approach to derive model-independent bounds exploiting comonotonic theory. We invoke Jensen’s inequality for the computation of lower bounds and employ Lagrange optimization technique to achieve the upper bound. The success of these bounds is based on the availability of compatible European mortality options in the market. We carry out Monte Carlo simulations to estimate the bond price and illustrate the strength of these bounds across a variety of models. The fact that our bounds are model-independent is a crucial breakthrough in the pricing of catastrophic mortality bonds.

Keywords: mortality bond, Swiss Re Bond, mortality index, comonotonicity

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Authors: Hocine Benabid, M. F. Ghorab

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The exploration of open pit mines and quarries has always been important resources that provide many valuable needed minerals but very often accompanied by large amounts of dust rejected into the air and also many other negative environmental impacts. The dust remains suspended in the atmosphere before being deposited on soils, on forest trees, on plants and also on water, causing at long term allergic and respiratory diseases for residents living in the vicinity or even far away from the mines and quarries. As a consequence of this activity, dust can also disturb the photosynthetic activity of plants and affect water quality. It is for these reasons and because of the intensification of these activities that our motivations have become larger to deal with this kind of topic, which is becoming nowadays an environmental and health concern for almost every country in the world.

Keywords: mines, dust, environmental impacts, environmental concern

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Authors: Afentoula Mavrodi, Andreas Georgiou, Georgios Tsiotras, Vassilis Aletras

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Placing a monetary value on a quality-adjusted-life-year (QALY) is of utmost importance in economic evaluation. Identifying the population’s preferences is critical in order to understand some of the reasons driving variations in the assigned monetary value. Yet, evidence of the motives behind value assignment to a QALY by the general public is limited. Developing an instrument that would capture the population’s motives could be proven valuable to policy-makers, to guide them in allocating different values to a QALY based on users’ motivations. The aim of this study was to identify the most relevant motives and develop an appropriate instrument to assess them. To design the instrument, we employed: a) the EQ-5D-3L tool to assess participants’ current health status, and b) the Willingness-to-Pay (WTP) approach, within the Contingent Valuation (CV) Method framework, to elicit the monetary value. Advancing the open-ended approach adopted to assess solely protest bidders’ motives; a variety of follow-up item-specific statements were designed (deductive approach), aiming to evaluate motives of both protest bidders and participants willing to pay for the hypothetical treatment under consideration. The initial design of the survey instrument was the outcome of an extensive literature review. This instrument was revised based on 15 semi-structured interviews that took place in September 2018 and a pilot study held during two months (October-November) in 2018. Individuals with different educational, occupational and economical backgrounds and adequate verbal skills were recruited to complete the semi-structured interviews. The follow-up motivation statements of both protest bidders and those willing to pay were revised and rephrased after the semi-structured interviews. In total 4 statements for protest bidders and 3 statements for those willing to pay for the treatment were chosen to be included in the survey tool. Using the CATI (Computer Assisted Telephone Interview) method, a randomly selected sample of 97 persons living in Thessaloniki, Greece, completed the questionnaire on two occasions over a period of 4 weeks. Based on pilot study results, a test-retest reliability assessment was performed using the intra-class correlation coefficient (ICC). All statements formulated for protest bidders showed acceptable reliability (ICC values of 0.84 (95% CI: 0.67, 0.92) and above). Similarly, all statements for those willing to pay for the treatment showed high reliability (ICC values of 0.86 (95% CI: 0.78, 0.91) and above). Overall, the instrument designed in this study was reliable with regards to the item-specific statements assessing participants’ motivation. Validation of the instrument will take place in a future study. For a holistic WTP per QALY instrument, participants’ motivation must be addressed broadly. The instrument developed in this study captured a variety of motives and provided insight with regards to the method through which the latter are evaluated. Last but not least, it extended motive assessment to all study participants and not only protest bidders.

Keywords: contingent valuation method, instrument, motives, quality-adjusted life-year, willingness-to-pay

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Authors: G. S. Dangayach, Gaurav Gaurav, Alok Bihari Singh

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The popularity of vehicles in both industrialized and developing economies led to a rise in the production of tyres. People have become increasingly concerned about the tyre industry's possible environmental impact in the last two decades. The life cycle assessment (LCA) methodology was used to assess the environmental impacts of industrial tyres throughout their life cycle, which included four stages: manufacture, transportation, consumption, and end-of-life. The majority of prior studies focused on tyre recycling and disposal. Only a few studies have been conducted on the environmental impact of tyre production process. LCA methodology was employed to determine the environmental impact of tyre manufacture process (gate to gate) at an Indian firm. Comparative analysis was also conducted to identify the environmental hotspots in various stages of tire manufacturing. This study is limited to gate-to-gate analysis of manufacturing processes with the functional unit of a single tyre weighing 50 kg. GaBi software was used to do both qualitative and quantitative analysis. Different environmental impact indicators are measured in terms of CO2, SO2, NOx, GWP (global warming potential), AP (acidification potential), EP (eutrophication potential), POCP (photochemical oxidant formation potential), and HTP (toxic human potential). The results demonstrate that the major contributor to environmental pollution is electricity. The Banbury process has a very high negative environmental impact, which causes respiratory problems to workers and operators.

Keywords: life cycle assessment (LCA), environmental impact indicators, tyre manufacturing process, environmental impact assessment

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Authors: Najla Kamergi

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In a world context of increasing interest in environmental issues, this paper investigates the effect of agri-environmental regulations heterogeneity on the volume of crop commodities’ exports using a theoretically justified gravity model of Anderson and van Wincoop (2003) for the 2003–2013 period. Our findings show that the difference in exporter and importer environmental regulations is more relevant to agricultural trade than trade agreements. In fact, the environmental gap between the two partners is decreasing slightly but significantly crop commodities’ exports according to our results. We also note that the sector of fruit and vegetables is more sensitive to this determinant, unlike cereals that remain relatively less affected. Furthermore, high-income countries have more tendency to trade with countries characterized by similar environmental stringency. Further results show that the BRICS are clearly importing from developed countries where the environmental difference is relatively important. It is likely that emerging countries are witnessing a growing demand for high-quality and “green” crop commodities captured by high-income exporters. Surprisingly, our results suggest that low and middle-income countries with the same level of environmental stringency are more likely to trade crop commodities.

Keywords: agricultural trade, environment, gravity model, food crops, agri-environmental efficiency, DEA

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Authors: Amina Jibrin Ahmed

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The environment is mankind's natural habitat. Industrial activities over time have taken their toll on it in the form of deterioration and degradation. The petroleum industry is particularly notorious for its negative impact on its host environments. The realization that this poses a threat to sustainability led to the increased awareness and subsequent recognition of the importance of environmental disclosure in financial statements. This paper examines the laws and regulations put in place by the Nigerian Government to mitigate this impact, and the level of compliance by Shell Nigeria, the pioneer and largest oil company in the country. Based on the disclosure made, this paper finds there is indeed a high level of compliance by that company, and voluntary disclosure moreover.

Keywords: environmental accounting, legitimacy theory, environmental impact assessment, environmental disclosure, host communities

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Authors: Pradip Kumar Das

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Phenomenal growth of population and industry exploits the environment in varied ways. Consequently, the greenhouse effect and other allied problems are threatening mankind the world over. Protection and up gradation of environment have, therefore, become the prime necessity all of mankind for the sustainable development of environment. People in humbler walks of life including the corporate citizens have become aware of the impacts of environmental pollution. Governments of various nations have entered the picture with laws and regulations to correct and cure the effects of present and past violations of environmental practices and to obstruct future violations of good environmental disciplines. In this perspective, environmental audit directs verification and validation to ensure that the various environmental laws are complied with and adequate care has been taken towards environmental protection and preservation. The discipline of environmental audit has experienced expressive development throughout the world. It examines the positive and negative effects of the activities of an enterprise on environment and provides an in-depth study of the company processes any growth in realizing long-term strategic goals. Environmental audit helps corporations assess its achievement, correct deficiencies and reduce risk to the health and improving safety. Environmental audit being a strong management tool should be administered by industry for its own self-assessment. Developed countries all over the globe have gone ahead in environment quantification; but unfortunately, there is a lack of awareness about pollution and environmental hazards among the common people in India. In the light of this situation, the conceptual analysis of this study is concerned with the rationale of environmental audit on the industry and the society as a whole and highlights the emerging dimensions in the auditing theory and practices. A modest attempt has been made to throw light on the recent development in environmental audit in developing nations like India and the problems associated with the implementation of environmental audit. The conceptual study also reflects that despite different obstacles, environmental audit is becoming an increasing aspect within the corporate sectors in India and lastly, conclusions along with suggestions have been offered to improve the current scenario.

Keywords: environmental audit, environmental hazards, environmental laws, environmental protection, environmental preservation

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Authors: Abuzer Akgün, Ümit Duruk

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This study was carried out in a period of four weeks thanks to voluntarily participation of twenty eight pre-service teachers enrolled diverse departments in Faculty of Education. The purpose of the study was to point out how pre-service teachers views on environmental education were affected by field trips. Prior to data collection, four open-ended questions were prepared and administered to all pre-service teachers in the working group. Data gathered at first and final week of the field trip were compared in a qualitative approach using content analysis. In conclusion, it is obvious that most of the participants don’t feel themselves quiet enough about environmental education and state this reason as a providing justification to participate voluntarily in the study. In the secondary school teaching context, they mostly emphasize on the vital importance of the environmental awareness level of the pupils in the schools. They also seem to think that they get a detailed knowledge of environmental education and claim that they will use this knowledge in order to bring up next generations in their professional career as teachers. Lastly, they state that observing the deteriorating materials directly in their own settings, might be more effective as regards improving environmental awareness.

Keywords: science education, environmental education, environmental issues, field trip method

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Authors: Shih-Kuei Lin

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The characterization of the arbitrage-free dynamics of interest rates is developed in this study under the presence of Markov jump risks, when the term structure of the interest rates is modeled through simple forward rates. We consider Markov jump risks by allowing randomness in jump sizes, independence between jump sizes and jump times. The Markov jump diffusion model is used to capture empirical phenomena and to accurately describe interest jump risks in a financial market. We derive the arbitrage-free model of simple forward rates under the spot measure. Moreover, the analytical pricing formulas for a cap and a floor are derived under the forward measure when the jump size follows a lognormal distribution. In our empirical analysis, we find that the LIBOR market model with Markov jump risk better accounts for changes from/to different states and different rates.

Keywords: arbitrage-free, cap and floor, Markov jump diffusion model, simple forward rate model, volatility smile, EM algorithm

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Authors: Naiara de Almeida Rios

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The environmental education, from Tbilisi, is signaled as an important instrument for conservation and environmental management. However, the social, economic, political and environmental aspects of each place require an environmental management that corresponds to the reality to which they are inserted, as well as environmental education practices. The city of Belém, the capital of the State of Pará, is one of the most important cities in the Amazon Region, and its vast water dimension requires that its watersheds take a careful look at their socio-environmental management. The Estrada Nova Hydrographic Basin is considered as one of the most critical river basins in the city due to flooding, lack of basic sanitation and degradation of water bodies. In this context, environmental education is understood as one of the necessary conditions to reduce environmental degradation. Environmental education presents itself as an instrument of social transformation and conservation of natural resources (especially water resources), where thinking about the sustainability of natural resources is moving towards dialogue on the importance of building an environmental awareness. The commitment that environmental education proposes covers all spheres of society, since the main objective of the same is the transformation of thought and attitudes from the understanding of reality. Therefore, to analyze how the government is managing the basin, as well as the environmental education practices developed in it, is fundamental, so that government can be charged with improvements for the population and for the natural environment. Therefore, the objective of this study is to analyze the influence of environmental education actions developed by local public authorities in the management of the Estrada Nova Hydrographic Basin, Belém/PA. For the accomplishment of this study, some methodological procedures will be used, like documentary analysis, bibliographical survey and fieldwork. If the multivariate statistical method is used to analyze the results obtained in the field. Unfortunately, public policies in the area of ​environmental education in Belém are still moving in short steps, since government interests have had very little dialogue with the socio-environmental problems that affect the Estrada Nova Hydrographic Basin. Both formal and informal environmental education has been poorly developed, hampering the continuous process proposed by water resources management.

Keywords: environmental education, environmental management, hydrographic basin, water resources

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Authors: Olakunle Felix Adekunle

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In the recent years several non-tariff provisions have been regarded as means holding back transboundary environmental damages. Affected countries have then increasingly come up with trade policies to compensate for or to In recent years, several non‐tariff trade provisions have been regarded as means of holding back transboundary environmental damages. Affected countries have then increasingly come up with trade policies to compensate for or to enforce the adoption of environmental policies elsewhere. These non‐tariff trade constraints are claimed to threaten the freedom of trading across nations, as well as the harmonization sought towards the distribution of income and policy measures. Therefore the ‘greening’ of world trade issues essentially ranges over whether there ought or ought not to be a trade‐off between trade and environmental policies. The impacts of free trade and environmental policies on major economic variables (such as trade flows, balances of trade, resource allocation, output, consumption and welfare) are thus studied here, and so is the EKC hypothesis, when such variables are played against the resulting emission levels. The policy response is seen as a political game, played here by two representative parties named North and South. Whether their policy choices, simulated by four scenarios, are right or wrong depends on their policy goals, split into economic and environmental ones.

Keywords: environmental, policies, strategies, constraint

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Authors: Massimiliano Nastri

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The study examines the façade systems according to the constitutive and typological characters, as well as the functional and applicative requirements such as the expressive, constructive, and interactive criteria towards the environmental, perceptive, and energy conditions. The envelope systems are understood as instruments of mediation, interchange, and dynamic interaction between environmental conditions. The façades are observed for the sustainable concept of eco-efficient envelopes, selective and multi-purpose filters, adaptable and adjustable according to the environmental performance.

Keywords: typologies of façades, environmental and energy sustainability, interaction and perceptive mediation, technical skins

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Authors: Md. Kamal Uddin

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Bangladesh is trying to achieve Sustainable Development Goals (SDGs) by 2030. Environmental Education (EE) is very vital to reaching the agenda of SDGs. However, a lack of environmental awareness and gaps in theoretical knowledge and its practices still exists in Bangladesh. Therefore, this research aims to understand the students’ perceptions of whether and how their behaviour is environment-friendly to achieve SDGs. It also addresses teachers’ perceptions of what are the shortcomings of environmental education in Bangladesh. It uses the qualitative and quantitative techniques of data collection and analysis based on in-depth interviews, surveys among different categories of participants and classroom observation. The paper finds that the level of EE and students’ awareness of the environment is inadequate. Some teachers believe that the EE is not better in Bangladesh due to the absence of practical learning of EE, lack of the motivations and actions, institutional weakness, inadequate policies, poor implementation, and cultural and traditional beliefs. Thus, this paper argues that Bangladeshi EE is not adequate to change the behaviour of the students towards the environment, which makes it difficult for the country to ensure SD. Thus, this research suggests that there is a need to revise the environmental education policy to change the behaviour and structure of the country for sustainable development.

Keywords: environmental education, sustainable development, environmental practice, environmental behaviour, Bangladesh

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Authors: Moustafa Osman

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The paper describes and analyses different good practice examples of protective levels, and initiatives actions (“framework conditions”) and encourages the uptake of environmental management systems (EMSs) to small and medium-sized enterprises (SMEs). Most of industries tend to take EMS as tools leading towards sustainability planning. The application of these tools has numerous environmental obligations that neither suggests decision nor recommends what a company should achieve ultimately. These set up clearly defined criteria to evaluate environmental protective action (EEPA) into sustainability indicators. The physical integration will evaluate how to incorporate traditional knowledge into baseline information, preparing impact prediction, and planning mitigation measures in monitoring conditions. Thereby efforts between the government, industry and community led protective action to concern with present needs for future generations, meeting the goal of sustainable development. The paper discusses how to set out distinct aspects of sustainable indicators and reflects inputs, outputs, and modes of impact on the environment.

Keywords: environmental management, sustainability, indicators, protective action

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Authors: Ukpaka Paschal

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Margret Boden argues that a creative product is one that is new, surprising, and valuable as a result of the combination, exploration, or transformation involved in producing it. Boden uses examples of artificial intelligence systems that fit all of these criteria and argues that real creativity involves autonomy, intentionality, valuation, emotion, and consciousness. This paper provides an analysis of all these elements in order to try to understand whether they are sufficient to account for creativity, especially human creativity. This paper focuses on Generative Adversarial Networks (GANs), which is a class of artificial intelligence algorithms that are said to have disproved the common perception that creativity is something that only humans possess. This paper will then argue that Boden’s listed properties of creativity, which capture the creativity exhibited by GANs, are not sufficient to account for human creativity, and this paper will further identify “first-person phenomenological experience” as an essential property of human creativity. The rationale behind the proposed essential property is that if creativity involves comprehending our experience of the world around us into a form of self-expression, then our experience of the world really matters with regard to creativity.

Keywords: artificial intelligence, creativity, GANs, first-person experience

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Authors: Marula Tsagkari

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Greece finds itself in challenging times, facing a severe economic slowdown since 2009. Despite the fact that Greece is in the epicenter of the global interest, to the best of our knowledge there is no extend research on how the crisis has affected the Greek environment (directly and indirectly), the past years. Thus, the present study aims to fill the aforementioned research gap by examining a number of environmental indicators related with air emissions, waste, water and energy. Our results indicate that the crisis affected the Greek environment in both positive and negative ways. For Greece, the main challenge is to recover from the present economic recession as soon as possible, but not at any cost to the environment. In this context, this research unfolds the interrelation between the economic and the environmental crisis and suggests a sustainable restructuring of the Greek economy.

Keywords: Greece, economic crisis, environmental policy, environmental indicators

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Authors: Youcef Lakhdar Hamina

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In order to tame the ecological damage specificity, it is imperative to assert the procedural and objective liability aspect, which leads us to analyse current trends based on the development of preventive civil liability based on the precautionary principle. Our research focuses on the instruments of the environment protection in urban areas based on two complementary aspects appearing contradictory and refer directly to the institutional dimensions: - The preventive aspect: considered as a main objective of the environmental policy which highlights the different legal mechanisms for the environment protection by highlighting the role of administration in its implementation (environmental planning, tax incentives, modes of participation of all actors, etc.). - The healing-repressive aspect: considered as an approach for the identification of ecological damage and the forms of reparation (spatial and temporal-responsibility) to the impossibility of predicting with rigor and precision, the appearance of ecological damage, which cannot be avoided.

Keywords: environmental law, environmental taxes, environmental damage, eco responsibility, precautionary principle, environmental management

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Authors: Ammar Alrefaei

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The COVID-19 pandemic changed human life. The vast majority of the COVID effect was on the healthcare sector, but its impact on the global economy cannot be denied. In the field of environment, the pandemic may have a more significant impact on the environment than all environmental activity and policies of recent years. The pandemic consequences for the environment may be far more unpredictable than one might assume. In view of this, it is imperative for legislators from different states to be prepared to apply adequate measures to counteract such consequences. This article aimed to examine the obstacles to implementing effective environmental policies after the COVID-19 pandemic using different examples from different countries. Also, how adopting new initiatives, such as the Saudi Green Initiative and the Middle East Green Initiative, can help policymakers and legislators adopt new laws and policies. In addition, this paper reviewed the developing dangers to environmental protection after the pandemic and analyzed the major challenges to instrument active environmental policies during COVID-19 and in the world after COVID.

Keywords: environmental policy, environment law, green initiative, COVID 19

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Authors: Yan Chen, Hongbing Li, Ruirui Zhai

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Innovation driven and innovation in the process of new-type urbanization is a major strategic choice for the introduction of foreign capital and the process of economic development. This research investigates the effect of urbanization, FDI and environmental regulations on innovation performance of enterprises, based on Chinese Industrial Statistics Database of 2004 to 2007 and data at province-level. It is found that the FDI from U.S. and environmental regulations will hinder the creativity of Chinese industry through reducing the R&D of them. However, the FDI from U.S. enhances the ability of domestic enterprises to attain “compensation from innovation” following the environmental regulations. Meanwhile, we confirm that environmental regulation can contribute to the innovation spillover of FDI from U.S. Furthermore, the channel of effect is discussed. In addition, FDI from EU and Japan are further examined. Unlike the FDI from U.S., the FDI from EU and Japan both have the positive innovation spillover effect, but through the same channel referred above which exist in FDI. Further analysis based on "innovation-driven effect" of urbanization is developed, and it is found that urbanization has an innovation-driven effect on environmental regulation and FDI spillover. The regulation of FDI from the United States and the European Union outperforms the FDI from Japan at a restrained degree.

Keywords: environmental regulations, FDI, innovation-driven, innovation performance

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Authors: Rehab Mahmoud El Sayed, Toka Fahmy Nasr, Dalia M. Rasmi

Abstract:

Environmental psychology studies the interaction between the user and the environment. This field is crucial in understanding how the built environment affects human behaviour, moods and feelings. Studying and understanding the aspects and influences of environmental psychology is a crucial key to investigating how the design can influence human behaviour to be environmentally friendly. This is known as pro-environmental behaviour where human actions are sustainable and impacts the environment positively. Accordingly, this paper aims to explore the impact of built environment design on environmental psychology to foster pro-environmental behaviour in university campus open spaces. In order to achieve this, an exploratory research method was conducted where a detailed study of the influences of environmental psychology was done and clarified its elements. Moreover, investigating the impact of design elements on human psychology took place. Besides, an empirical study of the outdoor spaces of the British University in Egypt occurred and a survey for students and staff was distributed. The research concluded that the four main psychological aspects are mostly influenced by the following design elements colours, lighting and thermal comfort respectively. Additionally, focusing on these design elements in the design process will create a sustainable environment. As a consequence, the pro-environmental behaviour of the user will be fostered.

Keywords: environmental psychology, pro-environmental behavior, sustainable environment, psychological influences

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