Financial and energy markets - a sustainable approach. Perspective of European countries belonging to the OECD

Purpose: This paper sets out to explore the relationships between a sustainable energy market and a sustainable financial market and energy market. The specific research objectives were: to explore whether sustainable finance only correlates with a sustainable energy market, or perhaps this relationship also exists with the traditional energy market, to identify the groups of countries for which there are correlations between the study categories. Design/Methodology/Approach: The empirical analysis is based on data from 2008, 2014, and 2018, as related to the energy market, sustainable energy, and sustainable finance for 28 European countries belonging to the OECD. A taxonomic development measure based on the reference method in the positional approach using the Weber median was used. Findings: The results confirmed the existence of a positive correlation between the energy market and the financial market in a sustainable approach. No such relationship was demonstrated for all three categories at the same time, i.e. energy market, sustainable energy market and sustainable finance. Practical Implications: This research is important for the policies of financial institutions and financial markets from the point of view of developing products and services for sustainable financing, so as to change the structure and improve the effects related to social responsibility (ESG risk reduction). Originality/value: This study examines whether relationships exist between a sustainable energy market and sustainable finance and the energy market in the traditional approach.peer-reviewe

Analysis of the accuracy of EGNOS+SDCM positioning in aerial navigation

The article presents a modified scheme of determining the accuracy parameter of SBAS (Satellite Based Augmentation System) positioning with use of two supporting systems: EGNOS (European Geostationary Navigation Overlay Service) and SDCM (System of Differential Correction and Monitoring). The proposed scheme is based on the weighted mean model, which combines single solutions of EGNOS and SDCM positions in order to calculate the accuracy of position-ing of the aerial vehicle. The applied algorithm has been tested in a flight experiment conducted in 2020 in north-eastern Poland. The phase of approach to landing of a Diamond DA 20-C1 aircraft at the EPOD airport (European Poland Olsztyn Dajtki) was subjected to numerical analysis. The Septentrio AsterRx2i geodesic receiver was installed on board of the aircraft to collect and record GPS (Global Positioning System) observations to calculate the naviga-tion position of the aircraft. In addition, the EGNOS and SDCM corrections in the “*.ems” format were downloaded from the real time server data. The computations were realized in RTKPOST library of the RTKLIB v.2.4.3 software and also in Scilab application. Based on the conducted research, it was found that the accuracy of aircraft positioning from the EGNOS+SDCM solution ranged from -1.63 m to +3.35 m for the ellipsoidal coordinates BLh. Additionally, the accuracy of determination of the ellipsoidal height h was 1÷28% higher in the weighted mean model than in the arith-metic mean model. On the other hand, the accuracy of determination of the ellipsoidal height h was 1÷28% higher in the weighted mean model than for the single EGNOS solution. Additionally, the weighted mean model reduced the resultant error of the position RMS-3D by 1÷13% in comparison to the arithmetic mean model. The mathematical model used in this study proved to be effective in the analysis of the accuracy of SBAS positioning in aerial navigatio

Fuzzy Model for Quantitative Assessment of Environmental Start-up Projects in Air Transport

The purpose of this paper is to develop an applied fuzzy model of information technology to obtain quantitative estimates of environmental start-up projects in air transport. The developed model will become a useful tool for venture funds, business angels, or crowdfunding platforms for the development of innovative air transport businesses. Obtaining a quantitative estimate of the environmental start-up projects will increase the sustainability of the decision making on the security of financing of such projects by investors. This article develops a fuzzy evaluation model of project start-ups in air transport as an application of our neuro-fuzzy model in a specific air transport environment. The applied model provides output ranking of start-up project teams in air transport based on a four-layer neuro-fuzzy network. The presented model declares the possibilities of the application to solve these economic problems and offers the space for subsequent research focused on its usability in several areas of start-up development, in sectors and processes differentiated. The benefits are also visible for several types of policies, with an emphasis on decision-making processes in regulatory mechanisms to support the state funding in Slovakia, the EU etc. Document type: Articl

Assessment of the Variability of Many Years of Thunderstorm Activity in the Aspect of Potential Threats to Aircraft at Selected Airports in Poland

The article presents an assessment of the long-term variability of storm activity in the aspect of potential threats to aircraft. The analysis of data from the period 1970–2018 was conducted for selected airports in Poland: Gdańsk Lech Wałęsa Airport, IATA code: GDN, ICAO code: EPGD (54°22′39″N 18°27′59″E, altitude above sea level 149 m above sea level); Solidarity Szczecin- Goleniow Airport, IATA code: SZZ, ICAO code: EPSC (53°35′05″ N 14°54′08″ E, altitude above sea level 47 m above sea level); Poznań-Ławica Henryk Wieniawski Airport, IATA code: POZ, ICAO code: EPPO (52°25′16″ N 16°49′35″ E, altitude above sea level 94 m above sea level); Warsaw Chopin Airport, IATA code: WAW, ICAO code: EPWA (52°09′57″ N 20°58′02″ E, altitude above sea level 110 m above sea level); Copernicus Airport Wrocław, IATA code: WRO, ICAO code: EPWR (51°06′10″ N 16°53′10″ E, altitude above sea level 123 m above sea level); John Paul II International Airport Kraków-Balice, IATA code: KRK, ICAO code: EPKK (50°04′40″ N 19°47′06″ E, altitude above sea level 241 m above sea level). The purpose of this paper is to assess the long-term variability of storm activity in the aspect of potential threats to air operations in Poland with the examples of six selected airports. In order to achieve the goal, an analysis of the frequency of storm phenomena in Poland was carried out both in annual and long- term terms. The analysis will allow the assessment of the geographical diversity of the distribution of storm phenomena and their variability in the years 1970–2018. The next stage of the work will be to determine the climatic conditions that exert the greatest impact on the formation of storms. The important factors include atmospheric circulation, which, over the Polish territory, is shaped by the influence of air masses from the Atlantic Ocean, the Baltic Sea and in addition, from the vast continental area. All these air masses clash over the area of Poland causing large variability in the frequency of occurrence of hazardous atmospheric phenomena. For this reason, the Polish climate is defined as a moderate warm climate with transitory features. The important factors affecting regional diversity are local conditions, such as terrain, nature of the land, and distance from water reservoirs. The thermal, humidity and aerodynamic properties of the substrate, which are components of radiation processes, determine the exchange of energy at the interface between the atmosphere and the earth, and largely determine the intensity of selected hazardous atmospheric phenomena. Each occurrence of a storm is a potentially dangerous meteorological event that threatens the environment and human activities, including all types of transport. The studied phenomenon of storms is particularly dangerous for air transport. Literature shows that storm phenomena in Poland are characterized by a large regional diversity, both during the year and over many years. The greatest threat of storm phenomena occurs in the warm period of the year—spring and summer

Correction: Fuzzy Model for Quantitative Assessment of Environmental Start-up Projects in Air Transport. Int. J. Environ. Res. Public Health 2019, 16(19), 3585

The authors wish to add the following data corrections to the coauthors listed, because of the updated data for their paper published in the International Journal of Environmental Research and Public Health [...

Fuzzy model hodnocení rizik pro environmentální start-up projekty v sektoru letecké dopravy

The purpose of this paper is to develop a fuzzy model of the risk assessment for environmental start-up projects in the air transport sector at the stage of business expansion. The model developed for the following software will be a useful tool for the risk decision support system of investment funds in financing environmental start-up projects at the stage of market conquest. Developing a quantitative risk assessment for environmental start-up projects for the air transport sector will increase the resilience of making risk decisions about their financing by the investors. In this paper, a set of 21 criteria for assessing the risk of launching environmental start-up projects in the air transport sector were formulated for the first time by presenting inputs in the form of a linguistic risk assessment and the number of credible expert considerations. The fuzzy risk assessment model, based on expert knowledge, uses linguistic variables, reveals the uncertainty of the input data, and displays a risk assessment with linguistic interpretation. The result of the paper is a fuzzy model that is embedded in a generalized algorithm and tested in an example risk assessment of environmental start-up projects in the air transport sector.Účelem tohoto příspěvku je vyvinout fuzzy model posuzování rizik pro environmentální začínající projekty v odvětví letecké dopravy ve fázi obchodní expanze. Model vyvinutý pro následující software bude užitečným nástrojem pro systém podpory rizikových rozhodnutí investičních fondů při financování environmentálních start-up projektů ve fázi tržního dobytí. Vypracování kvantitativního posouzení rizik pro environmentální začínající projekty v odvětví letecké dopravy zvýší odolnost rizikových rozhodnutí ohledně jejich financování ze strany investorů. V tomto dokumentu bylo poprvé stanoveno 21 kritérií pro posuzování rizika zahájení environmentálních start-up projektů v odvětví letecké dopravy představením vstupů ve formě lingvistického hodnocení rizika a počtu důvěryhodných expertních úvah. Fuzzy model hodnocení rizik založený na odborných znalostech používá lingvistické proměnné, odhaluje nejistotu vstupních údajů a zobrazuje hodnocení rizik s lingvistickou interpretací. Výsledkem příspěvku je fuzzy model, který je zabudován do zobecněného algoritmu a testován na příkladu hodnocení rizik environmentálních začínajících projektů v odvětví letecké dopravy

A Fuzzy Model of Risk Assessment for Environmental Start-Up Projects in the Air Transport Sector

The purpose of this paper is to develop a fuzzy model of the risk assessment for environmental start-up projects in the air transport sector at the stage of business expansion. The model developed for the following software will be a useful tool for the risk decision support system of investment funds in financing environmental start-up projects at the stage of market conquest. Developing a quantitative risk assessment for environmental start-up projects for the air transport sector will increase the resilience of making risk decisions about their financing by the investors. In this paper, a set of 21 criteria for assessing the risk of launching environmental start-up projects in the air transport sector were formulated for the first time by presenting inputs in the form of a linguistic risk assessment and the number of credible expert considerations. The fuzzy risk assessment model, based on expert knowledge, uses linguistic variables, reveals the uncertainty of the input data, and displays a risk assessment with linguistic interpretation. The result of the paper is a fuzzy model that is embedded in a generalized algorithm and tested in an example risk assessment of environmental start-up projects in the air transport sector