Circular economy indicators : what do they measure?

Circular Economy (CE) is a growing topic, especially in the European Union, that promotes the responsible and cyclical use of resources possibly contributing to sustainable development. CE is an umbrella concept incorporating different meanings. Despite the unclear concept, CE is turned into defined action plans supported by specific indicators. To understand what indicators used in CE measure specifically, we propose a classification framework to categorise indicators according to reasoning on what (CE strategies) and how (measurement scope), Despite different types, CE strategies can be grouped according to their attempt to preserve functions, products, components, materials, or embodied energy; additionally, indicators can measure the linear economy as a reference scenario. The measurement scope shows how indicators account for technological cycles with or without a Life Cycle Thinking (LCT) approach; or their effects on environmental, social, or economic dimensions. To illustrate the classification framework, we selected quantitative micro scale indicators from literature and macro scale indicators from the European Union 'CE monitoring framework'. The framework illustration shows that most of the indicators focus on the preservation of materials, with strategies such as recycling. However, micro scale indicators can also focus on other CE strategies considering LCT approach, while the European indicators mostly account for materials often without taking LCT into account. Furthermore, none of the available indicators can assess the preservation of functions instead of products, with strategies such as sharing platforms, schemes for product redundancy, or multifunctionality. Finally, the framework illustration suggests that a set of indicators should be used to assess CE instead of a single indicator

Optimal strategies of hedging portfolio of unit-linked life insurance contracts with minimum death guarantee

Dans ce papier, nous nous intéressons à la couverture des contrats en unités de compte avec garanties décès. Nous présentons des stratégies de couverture opérationnelles permettant de réduire de façon significative les coûts futurs liés à ce type de contrats. Suivant les recommandations des nouveaux référentiels (IFRS, Solvabilité 2 et MCEV), la prime de risque est introduite dans les évaluations. L‟optimalité des stratégies est constatée au moyen de la comparaison des indicateurs de risque (Pertes espérée, écart type, VaR, CTE et perte Maximale) des stratégies dans le modèle standard de Black-Scholes et dans le modèle à sauts de Merton. Nous analysons la robustesse des stratégies à une hausse brutale de la mortalité future et à une forte dépréciation du prix de l‟actif sous-jacent.Unit-linked; Death guarantee; Hedging strategies; Transaction and error of re-hedging costs; risk indicators; stress-testing

Standardization Framework for Sustainability from Circular Economy 4.0

The circular economy (CE) is widely known as a way to implement and achieve sustainability, mainly due to its contribution towards the separation of biological and technical nutrients under cyclic industrial metabolism. The incorporation of the principles of the CE in the links of the value chain of the various sectors of the economy strives to ensure circularity, safety, and efficiency. The framework proposed is aligned with the goals of the 2030 Agenda for Sustainable Development regarding the orientation towards the mitigation and regeneration of the metabolic rift by considering a double perspective. Firstly, it strives to conceptualize the CE as a paradigm of sustainability. Its principles are established, and its techniques and tools are organized into two frameworks oriented towards causes (cradle to cradle) and effects (life cycle assessment), and these are structured under the three pillars of sustainability, for their projection within the proposed framework. Secondly, a framework is established to facilitate the implementation of the CE with the use of standards, which constitute the requirements, tools, and indicators to control each life cycle phase, and of key enabling technologies (KETs) that add circular value 4.0 to the socio-ecological transition

Operationalizing the circular city model for naples' city-port: A hybrid development strategy

The city-port context involves a decisive reality for the economic development of territories and nations, capable of significantly influencing the conditions of well-being and quality of life, and of making the Circular City Model (CCM) operational, preserving and enhancing seas and marine resources in a sustainable way. This can be achieved through the construction of appropriate production and consumption models, with attention to relations with the urban and territorial system. This paper presents an adaptive decision-making process for Naples (Italy) commercial port's development strategies, aimed at re-establishing a sustainable city-port relationship and making Circular Economy (CE) principles operative. The approach has aimed at implementing a CCM by operationalizing European recommendations provided within both the Sustainable Development Goals (SDGs) framework-specifically focusing on goals 9, 11 and 12-and the Maritime Spatial Planning European Directive 2014/89, to face conflicts about the overlapping areas of the city-port through multidimensional evaluations' principles and tools. In this perspective, a four-step methodological framework has been structured applying a place-based approach with mixed evaluation methods, eliciting soft and hard knowledge domains, which have been expressed and assessed by a core set of Sustainability Indicators (SI), linked to SDGs. The contribution outcomes have been centred on the assessment of three design alternatives for the East Naples port and the development of a hybrid regeneration scenario consistent with CE and sustainability principles. The structured decision-making process has allowed us to test how an adaptive approach can expand the knowledge base underpinning policy design and decisions to achieve better outcomes and cultivate a broad civic and technical engagement, that can enhance the legitimacy and transparency of policies

Looking for the (missing) indicators of social sustainability - Evidence from sustainability standards in the coffee sector

Rising consumer interest for ethical and/or responsible products and the growing interweaving of social and environmental issues question the ability of scientific methods to correctly assess social impacts. To this day however, no consensus has yet been reached on relevant indicators to assess social impacts. In this article, we try to identify consistent indicators of social sustainability, based on the study and comparison of well-known sustainability standards currently used in the coffee sector (FLO, ESR, IMO, ETI, UTZ, Rainforest Alliance and Globalgap). The choice of relevant indicators is based on their realism and applicability, and on existing consensus among the standards on "minimal requirements" to certify sustainable practices in the coffee sector. Our main contributions to the debate on the choice of significant and relevant indicators are: to identify permanent features and areas of consensus between the different standards studied; and to question the definition of a socially sustainable product. ...French Abstract : L'intérêt grandissant des consommateurs pour les produits éthiques et/ou responsables et l'imbrication croissante des problématiques sociales et environnementales amènent à nous interroger sur la capacité des méthodes scientifiques actuelles à mesurer l'impact social. A ce jour, il n'existe pas de consensus autour d'indicateurs de durabilité sociale. Dans cet article, nous tentons d'identifier des indicateurs pertinents grâce à la comparaison de standards de durabilité communément utilisés dans le secteur du café (FLO, ESR, IMO, ETI, UTZ, Rainforest Alliance and Globalgap). Le choix de la pertinence des indicateurs est basé sur leur réalisme et leur applicabilité, ainsi que sur l'existence d'un consensus entre standards sur un " minimum requis " dans les cahiers des charges, pour la certification de pratiques socialement durables dans le secteur du café. Les contributions principales de ce papier sont : l'identification d'aires de consensus minimal entre les standards et une discussion de la durabilité sociale telle qu'elle est définie par ces standards.METHODS; SOCIAL LCA; SOCIAL STANDARDS; INDICATORS; FOOD SECTOR

Air Traffic Control Safety Indicators: What is Achievable?

European Air Traffic Control is extremely safe. The drawback to this safety record is that it is very difficult to estimate what the ‘underlying’ accident rate for mid-air collisions is now, or to detect any changes over time. The aim is to see if it possible to construct simple ATC safety indicators that correlate with this underlying accident rate. A perfect indicator would be simple to comprehend and capable of being calculated by a checklist process. An important concept is that of ‘system control’: the ability to determine the outcome against reasonably foreseen changes and variations of system parameters. A promising indicator is ‘Incident Not Resolved by ATC’, INRA, incidents in which the ground ATC defences have been ‘used up’. The key question is: if someone says he or she knows how to make a good estimate of the underlying accident rate, then how could this claim be tested? If it correlates very well with INRA, then what would be the argument for saying that it is a better indicator

Developing ecosystem service indicators: experiences and lessons learned from sub-global assessments and other initiatives

People depend upon ecosystems to supply a range of services necessary for their survival and well-being. Ecosystem service indicators are critical for knowing whether or not these essential services are being maintained and used in a sustainable manner, thus enabling policy makers to identify the policies and other interventions needed to better manage them. As a result, ecosystem service indicators are of increasing interest and importance to governmental and inter-governmental processes, including amongst others the Convention on Biological Diversity (CBD) and the Aichi Targets contained within its strategic plan for 2011-2020, as well as the emerging Intergovernmental Platform on Biodiversity and Ecosystem Services (IPBES). Despite this growing demand, assessing ecosystem service status and trends and developing robust indicators is o!en hindered by a lack of information and data, resulting in few available indicators. In response, the United Nations Environment Programme World Conservation Monitoring Centre (UNEP-WCMC), together with a wide range of international partners and supported by the Swedish International Biodiversity Programme (SwedBio)*, undertook a project to take stock of the key lessons that have been learnt in developing and using ecosystem service indicators in a range of assessment contexts. The project examined the methodologies, metrics and data sources employed in delivering ecosystem service indicators, so as to inform future indicator development. This report presents the principal results of this project