Sovereign wealth funds as a new instrument of climate protection policy? Study of Norway as a pioneer of ethical guidelines for investment policy

Norway's abundance of resources is the establishing factor in explaining how the North European state ranks among the countries worldwide with the highest standard of living. Indeed, fossil fuels are finite and after their depletion the Norwegian social welfare state should endure. Therefore, a sovereign wealth fund has been founded in the kingdom in 1990, in which the surpluses from the oil and gas industry sales have been invested from that time on. This method should secure the state's ability to act in the post-petroleum era. At the end of the 1990's the voice of Norwegian society insisted that the sovereign wealth fund should not only be for intergenerational justice, but should also contribute to the implementation of worth and norms of the present country. In the end of 2004 the Parliament (Storting), on the basis of the Graver Report, finally agreed upon ethic regulations for the investment of the sovereign wealth fund. With capital of over 280 billion Euros (figures from 2007), the second largest sovereign wealth fund in the world, they should now only have businesses in their portfolio which adhere to those ethical regulations. In the present paper, the emergence and outcomes of the development of a Third Way between maximising profit and sustainability will be illustrated. The ethical regulations have different dimensions (e.g. no contribution to human rights violations, child labour, serious environmental damages, etc.) to which the present text concentrates on posing the question to what extent sovereign wealth funds could be a new instrument of climate protection policy. For this purpose, the contribution of both main instruments of ethical regulations, Active Ownership and the exclusion of businesses, were analysed as well as the actors which have been created for their implementation. The repercussions reach from dialogs with businesses in the USA to stop lobby activities against Congress-planned climate protection laws, such as an emissions trading system, to adjusting to the exclusion of individual firms from the portfolio of welfare states, due to a breach of ethics. The drawbacks and constraints of a takeover of the Norwegian regulations by other financial actors and its first diffusion effects will be analysed. Finally, this article will deal with the running evaluations of the ethical regulations and Norwegian current and future domestic climate policies. -- Der Ressourcenreichtum Norwegens hat die Grundlage dafür geschaffen, dass der nordeuropäische Staat weltweit zu den Ländern mit dem höchsten Lebensstandard zählt. Doch fossile Energien sind endlich, und auch nach ihrer Erschöpfung soll der norwegische Wohlfahrtstaat Bestand haben. Deshalb wurde in dem Königreich im Jahr 1990 ein Staatsfonds aufgelegt, in dem seither die Überschüsse aus dem Öl- und Gasverkauf angelegt werden. Diese Mittel sollen die Handlungsfähigkeit des Staates in der Post-Petroleum-Ära sicherstellen. Ende der 1990er Jahre wurden in der norwegischen Gesellschaft Stimmen laut, dass der Staatsfonds nicht nur zur intergenerationellen Gerechtigkeit, sondern auch zur Umsetzung der Werte und Normen des Landes in der Gegenwart beitragen solle. Ende 2004 wurden schließlich vom Parlament (Storting) auf Basis des Graver Reports ethische Richtlinien für die Anlagepolitik des Staatsfonds beschlossen. Der mit einem Vermögen von über 280 Mrd. Euro (Stand Ende 2007) zweitgrößte Staatsfonds der Welt soll nun nur noch Unternehmen in seinem Portfolio haben, die diese ethischen Richtlinien einhalten. Im vorliegenden Paper werden Genese und Outcome dieser Entwicklung eines Dritten Weges zwischen Profitmaximierung und Nachhaltigkeit dargestellt. Die Ethik-Richtlinie hat verschiedene Dimensionen (u. a. kein Beitrag zu Menschenrechtsverletzungen, Kinderarbeit, schweren Umweltschäden, etc.), wobei sich der vorliegende Text auf die Fragestellung konzentriert, inwiefern Staatsfonds ein neues Instrument der Klimaschutzpolitik sein können. Dazu werden der Beitrag der beiden Hauptinstrumente der Ethikrichtlinien, das Active Ownership und der Unternehmensausschluss, zum globalen Klimaschutz ebenso analysiert wie die zu ihrer Umsetzung geschaffenen Akteure. Die Bandbreite der Auswirkungen reicht dabei vom Dialog mit Unternehmen in den USA, Lobbytätigkeiten gegen vom Kongress geplante Klimaschutzgesetze einzustellen bis hin zur Verbannung einzelner Firmen aus dem Portfolio des Staatsfonds wegen groben Verstößen gegen die Ethik-Richtlinien. Die Möglichkeiten und Grenzen einer Übernahme der norwegischen Regeln durch andere Akteure der Finanzwirtschaft werden ebenso untersucht wie erste Diffusionseffekte. Schließlich wird auf die laufende Evaluation der Ethik-Richtlinien und auf Stand und Perspektiven norwegischer Klimaschutzinnenpolitik eingegangen.

Good environmental governance for renewable energies: The example of Germany - lessons for China?

Germany’s pioneering role in the field of renewable energies (RES) can best be observed by its world leading position in installed wind power and photovoltaics. Also its first European rank in the production of biofuels and installed solar thermal collector space is remarkable. These successes are not due to an exceptionally good natural resource base; mainly they are the result of an innovative national support policy. Pressure from the European and international commitments also have contributed to the German success story in RES. The current paper analyses the main factors of the German case in the development of RES, including the design elements of the national promotion instruments and support programmes, the policy impacts from the European and the international level, technical as well as cognitive conditions. In addition, a description is given of further driving forces for a successful RES development in other European countries. The paper ends with the question which of the described success factors of the German RES case might be transferable to China - and which not. --

Culturally-Relevant Factors that Influence Healthy Eating among African American College Students

Obesity is a national epidemic in the US, disproportionately affecting African Americans, such that the obesity prevalence in African Americans (49.6%) surpassed the national prevalence (42.4%) in 2018. Those same disparities exist at the collegiate level, such that 27.4% of a sample of African Americans college students had obesity, surpassing the national prevalence of obesity (12.1%) in 2018. Diet, an important driver of obesity, is influenced by several psychological, social, and environmental factors. However, cultural factors influencing diet are understudied among African American college students. The overarching goal of the current study was to identify culturally-relevant factors that promote healthy eating among African American college students. Through a convergent mixed methods design, the results indicated that negative attitudes and low priority were significant barriers to healthy eating. Perceived importance predicted healthy eating engagement over and above barriers to engagement. Qualitative data demonstrated that culture serves as a socialization agent, shaping modeling, exposure, and perceptions of healthy eating behaviors. These culturally-relevant beliefs persist into emerging adulthood. These results serve as formative work to uncovering the specific role of culture in healthy eating behaviors among African American college students

Food Choice as a Signal of Racial Identity

Objectives: This study experimentally assessed food preference as one potentially important racial identity cue particularly for Black Americans, which in turn impacts interpersonal relations both between ethnicities/races (i.e., inter-group) and within ethnicity/race (i.e., intra-group). We hypothesized that preference for “Soul Food,” which is historically significant to Black Americans, as opposed to “Fresh Salad,” would be associated with stronger racial identity and induce more positive reactions among Black participants but more negative reactions among White participants. Methods: Undergraduate students (N = 365) viewed one of four online profiles that were ostensibly completed by a Black Student. Student gender (i.e., DeShawn vs. LaKeisha) and student food preference (Soul food vs. fresh salad) were manipulated experimentally within the online profiles. Results: Consistent with the prediction, preference for “Soul Food” was associated with stronger perceived racial identity, regardless of participant race. Additionally, Black participants responded more positively when “Soul Food” was preferred. In contrast, there was no evidence that White participants reacted differently to the Black students based on food preference. Conclusions: Food preference serves as one indicator of racial identity among Black Americans. Further implications are discussed.https://scholarscompass.vcu.edu/gradposters/1066/thumbnail.jp

Staatsfonds als neues Instrument der Klimaschutzpolitik? Eine Fallstudie am Beispiel von Norwegen als Pionier einer ethischen Kriterien folgenden Anlagepolitik

Der Ressourcenreichtum Norwegens hat die Grundlage dafür geschaffen, dass der nordeuropäische Staat weltweit zu den Ländern mit dem höchsten Lebensstandard zählt. Doch fossile Energien sind endlich, und auch nach ihrer Erschöpfung soll der norwegische Wohlfahrtstaat Bestand haben. Deshalb wurde in dem Königreich im Jahr 1990 ein Staatsfonds aufgelegt, in dem seither die Überschüsse aus dem Öl- und Gasverkauf angelegt werden. Diese Mittel sollen die Handlungsfähigkeit des Staates in der Post-Petroleum-Ära sicherstellen. Ende der 1990er Jahre wurden in der norwegischen Gesellschaft Stimmen laut, dass der Staatsfonds nicht nur zur intergenerationellen Gerechtigkeit, sondern auch zur Umsetzung der Werte und Normen des Landes in der Gegenwart beitragen solle. Ende 2004 wurden schließlich vom Parlament (Storting) auf Basis des Graver Reports ethische Richtlinien für die Anlagepolitik des Staatsfonds beschlossen. Der mit einem Vermögen von über 280 Mrd. Euro (Stand Ende 2007) zweitgrößte Staatsfonds der Welt soll nun nur noch Unternehmen in seinem Portfolio haben, die diese ethischen Richtlinien einhalten. Im vorliegenden Paper werden Genese und Outcome dieser Entwicklung eines Dritten Weges zwischen Profitmaximierung und Nachhaltigkeit dargestellt. Die Ethik-Richtlinie hat verschiedene Dimensionen (u. a. kein Beitrag zu Menschenrechtsverletzungen, Kinderarbeit, schweren Umweltschäden, etc.), wobei sich der vorliegende Text auf die Fragestellung konzentriert, inwiefern Staatsfonds ein neues Instrument der Klimaschutzpolitik sein können. Dazu werden der Beitrag der beiden Hauptinstrumente der Ethikrichtlinien, das Active Ownership und der Unternehmensausschluss, zum globalen Klimaschutz ebenso analysiert wie die zu ihrer Umsetzung geschaffenen Akteure. Die Bandbreite der Auswirkungen reicht dabei vom Dialog mit Unternehmen in den USA, Lobbytätigkeiten gegen vom Kongress geplante Klimaschutzgesetze einzustellen bis hin zur Verbannung einzelner Firmen aus dem Portfolio des Staatsfonds wegen groben Verstößen gegen die Ethik-Richtlinien. Die Möglichkeiten und Grenzen einer Übernahme der norwegischen Regeln durch andere Akteure der Finanzwirtschaft werden ebenso untersucht wie erste Diffusionseffekte. Schließlich wird auf die laufende Evaluation der Ethik-Richtlinien und auf Stand und Perspektiven norwegischer Klimaschutzinnenpolitik eingegangen. -- Norway's abundance of resources is the establishing factor in explaining how the North European state ranks among the countries worldwide with the highest standard of living. Indeed, fossil fuels are finite and after their depletion the Norwegian social welfare state should endure. Therefore, a sovereign wealth fund has been founded in the kingdom in 1990, in which the surpluses from the oil and gas industry sales have been invested from that time on. This method should secure the state's ability to act in the post-petroleum era. At the end of the 1990's the voice of Norwegian society insisted that the sovereign wealth fund should not only be for intergenerational justice, but should also contribute to the implementation of worth and norms of the present country. In the end of 2004 the Parliament (Storting), on the basis of the Graver Report, finally agreed upon ethic regulations for the investment of the sovereign wealth fund. With capital of over 280 billion Euros (figures from 2007), the second largest sovereign wealth fund in the world, they should now only have businesses in their portfolio which adhere to those ethical regulations. In the present paper, the emergence and outcomes of the development of a Third Way between maximising profit and sustainability will be illustrated. The ethical regulations have different dimensions (e.g. no contribution to human rights violations, child labour, serious environmental damages, etc.) to which the present text concentrates on posing the question to what extent sovereign wealth funds could be a new instrument of climate protection policy. For this purpose, the contribution of both main instruments of ethical regulations, Active Ownership and the exclusion of businesses, were analysed as well as the actors which have been created for their implementation. The repercussions reach from dialogs with businesses in the USA to stop lobby activities against Congress-planned climate protection laws, such as an emissions trading system, to adjusting to the exclusion of individual firms from the portfolio of welfare states, due to a breach of ethics. The drawbacks and constraints of a takeover of the Norwegian regulations by other financial actors and its first diffusion effects will be analysed. Finally, this article will deal with the running evaluations of the ethical regulations and Norwegian current and future domestic climate policies.

Enhancing Britain’s rivers: an interdisciplinary analysis of selected issues arising from implementation of the Water Framework Directive

N/AThe Water Framework Directive requires reduced environmental impacts from human activities and for the assessment of the non-market benefits of pollution remediation schemes. This policy shift has exacerbated the research problems surrounding the physical, social and economic consequences of the relationship between land use and water quality. This research seeks to quantify the major socio-economic and environmental benefits for people which may arise as riverine pollution is reduced. To achieve these aims this research integrates primary data analyses combining choice experiment techniques with geographical information system based analyses of secondary data concerning the spatial distributions of riverine pollution. Current knowledge on the microbial quality of river water, measured by faecal indicator organism (FIO) concentrations and assessed at catchment scale, is inadequate. This research develops generic regression models to predict base- and high-flow faecal coliform (FC) and enterococci (EN) concentrations, using land cover and population (human and livestock) variables. The resulting models are then used both to predict FIO concentrations in unmonitored watercourses and to evaluate the likely impacts of different land use scenarios, enabling insights into the optimal locations and cost-effective mix of implementation strategies. Valuation experiments frequently conflate respondents’ preferences for different aspects of water quality. This analysis uses stated preference techniques to disaggregate the values of recreation and ecological attributes of water quality, thereby allowing decision makers to better understand the consequences of adopting alternative investment strategies which favour either ecological, recreational or a mix of benefits. The results reveal heterogeneous preferences across society; specifically, latent class analysis identifies three distinct groups, holding significantly different preferences for water quality. From a methodological perspective this research greatly enhances the ongoing synthesis of geographic and economic social sciences and addresses important policy questions which are of interest to a variety of stakeholders, including government departments and the water industry.Economic and Social Research Counci

Superstition in Sport: A Phenomenological Study

The purpose of the study was to examine different types of superstitions used by athletes, the reasons behind the use of these superstitious behaviors, and how the athletes believed these behaviors affected their performance. Participants included five male and three female NCAA Division I, II, and III collegiate athletes from the Northeast United States. There were one volleyball, four baseball, one softball, one lacrosse, and one soccer players; all were extremely superstitious. Each athlete completed a demographic questionnaire with a section of Likert type questions that were used to identify the athlete’s interest in superstitions. If the athlete scored above a four on each question, they were asked to participate in the interviews, which lasted between 22 and 84 minutes each. The interview started with a set question about the athlete’s experience with superstition in their sport and was followed by questions based on the athlete’s responses. After the thematic structure was determined, the athlete received a copy of their personal interview and the proposed thematic structure for review and approval. Four main superstitious themes: Individual, Fear and Avoidance, Team, and Reasoning, and fifteen subthemes were found. The types of superstitions that each athlete discussed included luck, individual rituals and routines, team rituals and routines, clothing and equipment, and food and eating rituals. The participants used these rituals and behaviors as a way to bring themselves good luck and ward off bad luck, deal with high levels of stress and anxiety, gain control over uncertain factors, and recover from and avoid injury in the future. The findings suggest that athletes perform superstitions to put their minds at ease, build confidence, and give themselves that extra sense of luck in order to perform better

Peers as a social-contextual factor on adolescents\u27 academic and career motivation

The purpose of this study was to add literature by examining the influences of peers on adolescents\u27 academic and caeer motivation using Self-Determination Theory (SDT) as a theoretical foundation. Ninety juniors and seniors with a mean age of 16.48 from a southern California public high-school participated in the study. Participants completed a self-report questionaire which assessed background information, academic motivation, career motivation, and peer support