A spatial analysis model to assess the feasibility of short rotation forestry fertigated with urban wastewater: Basilicata region case study

The large-scale cultivation of energy crops irrigated with non-conventional water resources could reduce the negative impacts of fossil fuel use, while still saving potable supplies and decreasing pollution in surface water, particularly in water-deficient environments, like the Mediterranean region. Energy planning is a complex process involving multiple decision makers and criteria. Given the spatial nature of the problem, the research proposes a spatial analysis model to assess the agronomic and economic feasibility of vegetation filter systems in Basilicata region, southern Italy. The model chosen for land suitability analysis is the ordered weighted averaging (OWA) with the use of linguistic quantifiers. The suitability map obtained from the OWA model was used as input in the spatial analysis functions to quantify the productivity and irrigation needs of the species, the potential irrigable service area of the wastewater treatment plants (WWTPs), as well as the distances between them and SRF, which are all key elements in the economic evaluation. The results show that the distance is the main element that influences the feasibility: only 25 out of 163 WWTPs are cost-effective and can actually irrigate 864 ha of SRF. The research demonstrates that there is a great potential for bio-energy development in the region with significant economic advantages; in fact, there is a large number of sites with positive NPV up to 50,876.43 €/ha and payback period between 3 and 10 years. The implementation of vegetation filter systems could create chains with a high number of local actors (farmers, intermediaries, forest nurseries, etc.) and contribute to promoting territorial development and employment

Factors Influencing the Green Bond Market Expansion: Evidence from a Multi-Dimensional Analysis

Expansion of green bond markets as an appropriate way to lower environmental pollution is one of the most debatable issues among scholars. However, the expansion of this market is not a simple matter and depends on several factors. The main purpose of this study is to carry out a multi-dimensional analysis using the analytic hierarchy process (AHP) method to find and prioritize factors influencing the development of green bond markets. As a case, we do our analysis for Vietnam that, since the last years, has been trying to expand green bond market as an effective investment channel to finance low-carbon projects. The main findings revealed that legal infrastructure, official interest rate of green bonds, and economic stability are the most important factors directly affecting green bond market expansion. Therefore, economic and legal requirements should be addressed by policy makers. As major policy implications, we recommend an affordable price of green bonds and improvement of economic and financial stability to accelerate the development of green bond markets

Secure and Sustainable Energy System

This special issue aims to contribute to the climate actions which called for the need to address Greenhouse Gas (GHG) emissions, keeping global warming to well below 2°C through various means, including accelerating renewables, clean fuels, and clean technologies into the entire energy system. As long as fossil fuels (coal, gas and oil) are still used in the foreseeable future, it is vital to ensure that these fossil fuels are used cleanly through abated technologies. Financing the clean and energy transition technologies is vital to ensure the smooth transition towards net zero emission by 2050 or beyond. The lack of long‐term financing, the low rate of return, the existence of various risks, and the lack of capacity of market players are major challenges to developing sustainable energy systems.This special collected 17 high-quality empirical studies that assess the challenges for developing secure and sustainable energy systems and provide practical policy recommendations. The editors of this special issue wish to thank the Economic Research Institute for ASEAN and East Asia (ERIA) for funding several papers that were published in this special issue

Multiple criteria decision analytical tools in assessing risk for green growth: the case of oil palm biomass in Malaysia

The heightening world issues arises from climate change and energy security has created a strong resonance for sustainable development. The utilisation of biomass resources is amongst one of the best strategies to counter carbon emission and energy security issues for waste-to-wealth. Over the last decade, the Malaysian government has shown its clear intent to be a front-runner in the green economy through its various green economy policies and programs, particularly focus on oil palm biomass industry. However, it is observed that the diffusion rate of the industry remains relatively slow as compared to other developing countries such as Thailand and Philippine. Literature, anecdotal evidence, and advocates as well as businesses have identified that one of the non-technical factors that contribute to this problem is financing difficulties. The complication of biomass value chain creation often engaged with high risk profile, capital intensive and long payback period which is unfavourable for financing based on conventional risk assessment. Thus, this research focusses on developing a full range risk assessment model in aiding the industry stakeholder to comprehend the risk profile in managing and mitigating risk in biomass value chain in Malaysia. Multiple decision analytical tools have been employed and developed to integrate non-quantitative factors in risk assessment and design risk mitigation strategy based on the strengths and preferences of different stakeholders’ role. The outputs can serve as policy recommendation to aid the authorities and policy makers to undertake policy reviews to effectively spur the biomass industry for green growth. Furthermore, financier and investor are recommended to utilise the information to enhance its financing decision, to offer financial products that customised the need of sustainable projects without losing great business opportunity. Last but not least, the framework also offers industry stakeholders a practical decision analysis and making tool to integrate preferences as well as quantitative information to mitigate risks before any losses in venturing into the biomass industry occurred

Index tracking with utility enhanced weighting

Passive index investing involves investing in a fund that replicates a market index. Enhanced indexation uses the returns of an index as a reference point and aims at outperforming this index. The motivation behind enhanced indexing is that the indices and portfolios available to academics and practitioners for asset pricing and benchmarking are generally inefficient and, thus, susceptible to enhancement. In this paper we propose a novel technique based on the concept of cumulative utility area ratios and the Analytic Hierarchy Process (AHP) to construct enhanced indices from the DJIA and S&P500. Four main conclusions are forthcoming. First, the technique, called the utility enhanced tracking technique (UETT), is computationally parsimonious and applicable for all return distributions. Second, if desired, cardinality constraints are simple and computationally parsimonious. Third, the technique requires only infrequent rebalancing, monthly at the most. Finally, the UETT portfolios generate consistently higher out-of-sample utility profiles and after-cost returns for the fully enhanced portfolios as well as for the enhanced portfolios adjusted for cardinality constraints. These results are robust to varying market conditions and a range of utility functions

Municipal solid waste management system: decision support through systems analysis

Thesis submitted to the Universidade Nova de Lisboa, Faculdade de Ciências e Tecnologia for the degree of Doctor of Philosophy in Environmental EngineeringThe present study intends to show the development of systems analysis model applied to solid waste management system, applied into AMARSUL, a solid waste management system responsible for the management of municipal solid waste produced in Setúbal peninsula, Portugal. The model developed intended to promote sustainable decision making, covering the four columns: technical, environmental, economic and social aspects. To develop the model an intensive literature review have been conducted. To simplify the discussion, the spectrum of these systems engineering models and system assessment tools was divided into two broadly-based domains associated with fourteen categories although some of them may be intertwined with each other. The first domain comprises systems engineering models including cost-benefit analysis, forecasting analysis, simulation analysis, optimization analysis, and integrated modeling system whereas the second domain introduces system assessment tools including management information systems, scenario development, material flow analysis, life cycle assessment (LCA), risk assessment, environmental impact assessment, strategic environmental assessment, socio-economic assessment, and sustainable assessment. The literature performed have indicated that sustainable assessment models have been one of the most applied into solid waste management, being methods like LCA and optimization modeling (including multicriteria decision making(MCDM)) also important systems analysis methods. These were the methods (LCA and MCDM) applied to compose the system analysis model for solid waste. The life cycle assessment have been conducted based on ISO 14040 family of norms; for multicriteria decision making there is no procedure neither guidelines, being applied analytic hierarchy process (AHP) based Fuzzy Interval technique for order performance by similarity to ideal solution (TOPSIS). Multicriteria decision making have included several data from life cycle assessment to construct environmental, social and technical attributes, plus economic criteria obtained from collected data from stakeholders involved in the study. The results have shown that solutions including anaerobic digestion in mechanical biological treatment plant plus anaerobic digestion of biodegradable municipal waste from source separation, with energetic recovery of refuse derived fuel (RDF) and promoting pays-as-you-throw instrument to promote recycling targets compliance would be the best solutions to implement in AMARSUL system. The direct burning of high calorific fraction instead of RDF has not been advantageous considering all criteria, however, during LCA, the results were the reversal. Also it refers that aerobic mechanical biological treatment should be closed.Fundação para a Ciência e Tecnologia - SFRH/BD/27402/200

A computational framework for selecting the optimal combination of seismic retrofit and insurance coverage

Economic earthquake losses can be mitigated through either building retrofit strategies and/or, to some extent, risk-transfer to the (re)insurance market. This paper proposes a computational framework to select the optimal combination of seismic retrofit and insurance policy parameters for buildings. First, a designer selects a suitable retrofit strategy. This is implemented incrementally to define interventions with increasing retrofit performance levels. The cost of each intervention is calculated, along with the cost of property rental while the retrofit is implemented. Alternative insurance options are considered. For each retrofit-insurance combination, the insured and uninsured economic losses within a given time horizon are estimated. The optimal retrofit and insurance combination minimizes the tail value at risk of the life cycle cost. The selected confidence level for this metric depends on the homeowner's risk aversion. The proposed framework is illustrated for a case-study archetype Italian reinforced concrete frame building retrofitted with concrete jacketing, also considering the Italian retrofit tax incentives/rebates called “Sismabonus.

A Decision Tool for Supplier Selection That Takes into Account Power and Performance

Companies select their suppliers to provide required performance while being successful partners. An important aspect of collaboration is the power relationship between the company and its suppliers. Although the significance of power in supplier selection is acknowledged, published work rarely includes assessment of power. An empirical study on selecting suppliers for new product developments in a major European diesel engine manufacturing company, supported by three smaller studies with electronic engineering companies, frames overall questions regarding the importance of incorporating power into supplier selection and how this might be achieved. This research proposes an approach that assesses both performance and power and integrates the assessment results by modelling the relative effects of power and performance. It positions the suppliers into six scenarios (ideal, satisfying, tolerable, unfavourable, risky and tough) which depict to what extent a supplier is ‘suitable’ to work with. A reverse analysis reviews the relationship when several suppliers appear suitable. An assessment method is developed incorporating both subjective and objective data for qualitative and quantitative criteria. It combines two decision making methods, AHP and TOPSIS, with triangular fuzzy numbers. Multiple judgements from several decision makers are synthesised. This method is adapted for performance assessment of single, group and cross-group suppliers. Weights are calculated for the criteria, and combined with calculations of supplier performance against each criterion to provide an overall assessment and supplier profile. Power is quantified against a set of power determinants and power relations (supplier dominance, buyer dominance and balanced) are determined. The effects of supplier perceptions (objective, optimistic and pessimistic) are estimated in the calculation. The proposed approach involves complex calculations and a prototype software tool is developed with graphical interfaces. The tool includes performance criteria and power determinants collected from literature and allows users to define new ones. Application to an agriculture case enables the sustainable performance of suppliers (farmers) to be evaluated and compared