MOBILIZING PRIVATE FINANCE FOR PUBLIC GOOD: CHALLENGES AND OPPORTUNITIES OF SOCIAL IMPACT BONDS

Social Impact Investing (SII), defined as investment that aims to create a positive social impact in addition to a financial return, is a promising approach to solving pressing social issues. One of the key topics in this context is a new “pay-for-performance” financing instrument for social services that has been implemented in the UK, the US and Australia to facilitate impact investments: Social Impact Bonds (SIBs). The extension of the scope of the SIB outcomes-based model to achieve improved social outcomes in developing countries implies the use of Developing Impact Bonds (DIBs). The adaption of the SIB approach for developing countries is the most recent financial innovation derived from the impact investing industry. This work using a multiple case study approach, provides an analysis of the role of typical financial instruments of SIIin welfare policies through a descriptive and explorative analysis of the contractual scheme and of the technical and economic aspects of some currently existing SIBs and DIBs and provides a comparison of SIBs and DIBs by highlighting their similarities, differences, opportunities and challenges. The results offer practical suggestions for professionals and policy makers to support suitable strategies for the evolution of these instruments in the delivery of welfare services

Consideration of the mechanical damage behavior of rock salt during calculation of infiltration-cracks in the edge zone of gas storage caverns

Underground storage in salt caverns is a preferred method for the intermediate storage of natural gas to cover seasonal fluctuation in consumption and commercial gas storage. The prove of the stability and tightness of the storage required for safe operation is continuously adapted to the current state of the art. For many years, an intensive scientific investigation has been carried out within the frame-work of repository research with continuous optimization of the rock mechanical modelling of the material behavior of rock salt. From the elaboration of the research results on the pressure-driven infiltration processes into the primarily non-permeable salt rock, it emerges that during gas storage operation, in addition to the areal infiltration, the formation of macroscopic infiltration-cracks in the cavern surrounding salt rock is to be expected as well. This thesis deals with the computational simulation of macroscopic infiltration-cracks within the scope of theoretical modelling of salt cavern behavior during gas storage, taking into account additional mechanical damage processes in the rock salt. On the basis of variational calculus, the infiltration fracture propagation will be evaluated, considering different model approaches in material behavior of the cavern surrounding rock salt mass. As a result of the present work, it should be noted that with regard to the propagation of infiltration-cracks in gas caverns, constitutive model approaches for the description of the mechanical damage and healing behavior of rock salt can be neglected for a conservative assessment

Simulation of temperature and chemical weathering effect on marble rocks

Physical and mechanical properties of building stones can vary due to different degradation mechanisms caused by temperature and chemical agents. The problem of chemical and thermal weathering on marble rocks is an important issue to consider for designing building façades since it may cause sugaring, bowing, cracking and spalling. Moreover, an accurate comprehension of induced damages is required for restoration and conservation of heritage monument purposes. While thermal weathering has been widely studied in the last years, the combined effect of thermal and chemical weathering (that here is intended as the combined action of rainwater and atmospheric pollutants) is still poorly understood. In this study, no- destructive (ultrasonic pulse velocities) and destructive tests (bending tests) were performed on Carrara marble slabs in natural and after thermal (with target temperatures respectively of 50 and 90°C) and thermo-chemical treatment. Thermo-chemical treatments were performed by soaking the specimens in a 5x10-6 mol/l solution of sulphuric acid at pH=5 to simulate the acid rain behavior, at constant target temperatures, for one week. In general, for each weathering mechanism, progressive degradation of the physical and mechanical properties of marble specimens was observed. In particular, a marked drop in flexural strength, mirrored by a wide variation in P- and S-wave velocity, was found in specimens chemically treated at target temperature equal to 90 °C

Raccontare il diritto: letteratura, cinema, giornalismo, pubblicità, comunicazione istituzionale

Secondo la ricostruzione positivista - normativa, comunicare il diritto significa portare a conoscenza dei consociati regole od attività già definite, vale a dire il compito proprio della "Gazzetta Ufficiale". Il rapporto tra diritto e comunicazione risulta, invece, più complesso ove si tengano in considerazione tutte le forme di racconto del giuridico, istituzionali e non (giornalismo, letteratura, cinema e televisione), che modellano la percezione sociale del diritto e, per questa via, incidono sulla formazione e sull'applicazione delle regole giuridiche, concorrendo a determinarne il contenuto. Ponendo a confronto studiosi di diritto e letteratura con esponenti del giornalismo, dell'audiovisivo e della comunicazione istituzionale, il workshop intende investigare i diversi modi in cui il diritto viene narrato, e le trasformazioni che queste narrazioni comportano nel diritto stesso. L'incontro è organizzato in collaborazione con dell'Ufficio d’informazione del Parlamento europeo a Milano e dell'AIDEL – Associazione italiana di diritto e letteratura

Geostructural and Geomechanical Study of the Piastrone Quarry (Seravezza, Italy) Supported by Photogrammetry to Assess Failure Mode

The use of non-contact-techniques for rock mass characterization has been growing significantly over the last decade. However, their application to stability assessment of ornamental stone has not yet received much attention from researchers. This study utilizes rock mass data both in terms of slope orientations and degree of fracturing obtained from a point cloud, a set of three-dimensional (3D) points representing a rock mass surface, to (1) investigate the influence of geostructures at different scales and (2) assess quarry stability by determining areas susceptible to different failure types. Multi-resolution point clouds are obtained through several photogrammetric survey techniques to identify important structural elements of the site. By integrating orientation data of discontinuity planes, obtained with a traditional survey, and of traces, outlined on point clouds, several joint sets were identified. Kinematic tests revealed various potential failure modes of the rock slope. Moreover, an analysis of the influence of the discontinuity strength determined by the presence of rock bridges was carried out. The study revealed that the strength of the quarry face is governed by the presence of rock bridges that act to improve the stability condition of the rock fronts

On the Thermal Stresses Due to Weathering in Natural Stones

Natural weathering is known as one of the key mechanisms causing degradation in building materials. Great efforts have been made to develop new materials and new processes for protecting those that already exist. Natural stones are an example of a natural material that has been extensively used for building construction since ancient times. In addition, they fit durability, aesthetic, and mechanical requirements. Thus, they still have great importance in the construction business nowadays. Though chemical interactions in natural stones, such as oxidation or hydrolyses, have been widely studied, in the last few decades, the physical weathering due to daily temperature variations has begun to be considered as a key mechanism of degradation and has been incorporated in international standards. This process is particularly important in calcitic marble slabs, where it can cause extensive damages to facades. Consequently, there are restrictive rules for the use of marble as an external coating material in many countries. In this paper, the thermal stresses induced by daily variations in temperature are calculated using geographic and meteorological information. The concept of sol-air temperature is used to estimate the temperatures of the hidden and exposed surfaces of a slab, and Fourier’s law and the theory of elasticity are used to calculate the temperature and stress distribution, respectively. The proposed methodology allows for a detailed reconstruction of the stress induced inside marble slabs using parameters commonly acquired in meteorological stations as input data. The developed methodology was validated by comparing in-situ measurements of the temperature of a building in Pescara (Central Italy). A good correlation between the theoretical and real temperatures was found; in particular, the peak tensile stresses inside the slabs were estimated at 75 kPa

Health impact of the emissions from a refinery: case-control study on the adult population living in two municipalities in Lomellina, Italy

Background: In the municipalities of Sannazzaro de’ Burgondi and Ferrer Erbognone (District of Lomellina, Pavia, Lombardy, Italy), an oil refinery is operating since 1963. In 2008, the company running the plant (eni S.p.A.) asked the competent bodies the permission for building a new facility (“EST”). The present work is aimed at evaluating the ante-operam health impacts of the existing facility refinery. Methods: A case-control study design was implemented. Cases were subjects admitted to hospital in 2002-2014 due to acute respiratory, cardiovascular or gastrointestinal conditions. Controls were selected among those who had not been hospitalised in that timespan. Cases and controls had to be alive at enrolment, aged 20-64 years, and were frequency-matched by age, gender and municipality. Data were extracted from the health insurance registry and from Hospital Discharge Records (ATS Pavia). Enrolled subjects were asked to complete a mailed survey. Environmental exposure was the fallout of refinery emissions (PM10) at participants’ homes, as predicted by an AERMOD model. Results: 541 respondents (125 cases, 416 controls) were included in the analyses. Response bias was excluded. Individual PM10 exposure was not significantly different between cases and controls, while it was significantly associated with municipality (being higher in Sannazzaro). The crude effect estimate of PM10 over case/control status indicated a not-significant excess of hospitalisation with the increase in PM10 exposure. Multivariate analyses confirmed those results. Conclusion: Findings indicate a possible excess of hospitalisation risk in most exposed people, but the effect is not statistically significant and may be affected by bias