Exploring the financial and investment implications of the Paris Agreement

A global energy transition is underway. Limiting warming to 2°C (or less), as envisaged in the Paris Agreement, will require a major diversion of scheduled investments in the fossil-fuel industry and other high-carbon capital infrastructure towards renewables, energy efficiency, and other low or negative carbon technologies. The article explores the scale of climate finance and investment needs embodied in the Paris Agreement. It reveals that there is little clarity in the numbers from the plethora of sources (official and otherwise) on climate finance and investment. The article compares the US$100 billion target in the Paris Agreement with a range of other financial metrics, such as investment, incremental investment, energy expenditure, energy subsidies, and welfare losses. While the relatively narrowly defined climate finance included in the US$100 billion figure is a fraction of the broader finance and investment needs of climate-change mitigation and adaptation, it is significant when compared to some estimates of the net incremental costs of decarbonization that take into account capital and operating cost savings. However, even if the annual US$100 billion materializes, achieving the much larger implied shifts in investment will require the enactment of long-term internationally coordinated policies, far more stringent than have yet been introduced.</i

Tourism income and economic growth in Greece: Empirical evidence from their cyclical components

This paper examines the relationship between the cyclical components of Greek GDP and international tourism income for Greece for the period 1976–2004. Using spectral analysis the authors find that cyclical fluctuations of GDP have a length of about nine years and that international tourism income has a cycle of about seven years. The volatility of tourism income is more than eight times the volatility of the Greek GDP cycle. VAR analysis shows that the cyclical component of tourism income is significantly influencing the cyclical component of GDP in Greece. The findings support the tourism-led economic growth hypothesis and are of particular interest and importance to policy makers, financial analysts and investors dealing with the Greek tourism industry

“A Modest Proposal”: Universal Cesarean Section to Reduce Professional Liability Costs

ABSTRACT OBJECTIVE: To model the effect of universal cesarean delivery on professional liability costs. STUDY DESIGN: We examined all obstetric professional liability claims covered by a single insurer between January 1, 1990 and December 31, 2000. We reviewed each case to determine if an alternate route of delivery might reasonably have prevented the lawsuit. Costs were calculated by adding the cost of processing the claim, the legal defense, the settlement payments and/or the actuarially derived adjustments. Using a 20% cesarean rate as our baseline, we modeled the effect on liability costs of cesarean delivery in all patients. RESULTS: There were 205,241 births during the study period, and 91 lawsuits (incidence 4.4 per 10,000) were initiated with projected claims-costs totaling $53,731,903 ($590,460 per case). Among those 68 cases in which route of delivery may have affected outcome, we estimated $39,070,661 might have been saved if 63 cases had delivered by planned cesarean and$804,486 in claims-costs might have been saved if 5 patients had delivered vaginally rather than by cesarean. Finally, we identified 23 cases with costs of $10,638,797 in which the route of delivery would not have affected the outcome. With this model of universal cesarean section, the projected number of lawsuits decreases from 91 to 48 (a 53$14,661,242 ($305,442 per case); a potential savings of$39,070,661 (72.7%). CONCLUSIONS: In the current legal environment, a policy of 100% cesarean sections could hypothetically reduce professional liability costs by 73%. We do not propose such a policy because it would subject a majority of patients to medically unindicated surgery

Relationship between spatial proximity and travel-to-work distance : the effect of the compact city

In this paper, an assessment is made of the relationship between selected aspects of spatial proximity (density, diversity, minimum commuting distance, jobs-housing balance and job accessibility) and reported commuting distances in Flanders (Belgium). Results show that correlations may depend on the considered trip end. For example, a high residential density, a high degree of spatial diversity and a high level of job accessibility are all associated with a short commute by residents, while a high job density is associated with a long commute by employees. A jobs-housing balance close to one is associated with a short commute, both by residents and by employees. In general, it appears that the alleged sustainability benefits of the compact city model are still valid in a context of continuously expanding commuting trip lengths

Spontaneous coronary artery dissection: Current state of the science: A scientific statement from the American Heart Association

© 2018 American Heart Association, Inc. Spontaneous coronary artery dissection (SCAD) has emerged as an important cause of acute coronary syndrome, myocardial infarction, and sudden death, particularly among young women and individuals with few conventional atherosclerotic risk factors. Patient-initiated research has spurred increased awareness of SCAD, and improved diagnostic capabilities and findings from large case series have led to changes in approaches to initial and long-term management and increasing evidence that SCAD not only is more common than previously believed but also must be evaluated and treated differently from atherosclerotic myocardial infarction. High rates of recurrent SCAD; its association with female sex, pregnancy, and physical and emotional stress triggers; and concurrent systemic arteriopathies, particularly fibromuscular dysplasia, highlight the differences in clinical characteristics of SCAD compared with atherosclerotic disease. Recent insights into the causes of, clinical course of, treatment options for, outcomes of, and associated conditions of SCAD and the many persistent knowledge gaps are presented

China\u27s hegemonic intentions and trajectory: Will it opt for benevolent, coercive, or Dutch‐style hegemony?

China\u27s unprecedented economic growth led some scholars to conclude that it will replace the United States as the future global hegemon. However, China\u27s intentions in exercising future global leadership are yet unknown and difficult to extrapolate from its often contradictory behaviour. A preliminary overview of China\u27s island building in the South China Sea reveals its potentially coercive intentions. This inference is consistent with the analysis of those who prognosticate China\u27s violent rise. Conversely and simultaneously, China\u27s participation in peacekeeping operations and its global investments evince its benevolent hegemonic intentions, which are congruent with the argument of those who predict China\u27s peaceful hegemonic ascent. Confronted with these divergent tendencies in China\u27s recent international relations, and assuming its continued rise, it is, thus, essential to examine China\u27s strategic intentions and how these may ultimately project its violent or peaceful hegemonic rise. This article argues that the “Third Way” or “Dutch‐style” hegemony is highly instructive in this context and, thus, should be examined and added to the existing debate on China\u27s rise as either a benevolent or coercive hegemon. We argue that Dutch‐style hegemony may be the most viable way for China to proceed in its global hegemonic ascendancy

Economics of soil erosion : theory, methodology and examples

Meeting: EEPSEA Biannual Workshop, 5th, 28-30 Nov. 1995, Singapore, SGBased on a presentation at the Worksho

Philippine mining disaster : counting the cost of a ruined river

Full text version of this study is available as an EEPSEA research report: Estimation of environmental damages from mining pollution : the Marinuque Island mining acciden