Voluntary carbon credits as an incentive to capture and store biogenic emissions at waste incineration plants : a profitability assessment of future investment in carbon capture and storage at waste incineration plants, based on a separate market analysis of the voluntary carbon market post-2030

To reach the goal of The Paris Agreement the transition to renewable energy and energy efficiency will be necessary, but insufficient to achieve the goal of 1,5 Degree Celsius. According to the UN’s Climate Panel and IEA, we will have to make greater use of removal projects and create negative emissions. The potential in the waste industry is great both for cutting emissions and creating negative emissions. Captured biogenic CO2 creates negative emissions and about 50 percent of the emissions from waste incineration plants are biogenic. Carbon Capture and Storage (CCS) requires significant investments and is currently unprofitable in the waste industry. However, captured biogenic CO2 qualifies for the sale of carbon credits on the Voluntary Carbon Market (VCM). The VCM is an immature and small market. As the situation is today, it is difficult for companies to know whether the sale of such credits can make an investment in carbon capture and storage profitable or not. This thesis addresses the challenging of high costs and lack of incentives related to CCS at waste incinerations plants. I examine whether the sale of voluntary carbon credits can be a good enough incentive to make CCS of biogenic emissions profitable for waste incineration plants by 2030. The main findings in the market analysis indicate that the VCM will grow in the years towards and after 2030, both in quantitates and prices. For a well-functioning VCM, integrity must be ensured in the marked. The most important factors to achieve this are: a heterogeneous market, avoided double counting, additionality, and a standard for verification. I find that the sale of voluntary carbon credits from the biogenic emissions can lead to profitability in investing of CCS at waste incineration plants. This requires that the prices in the VCM are set high enough. Lower prices in the VCM can be accepted if waste incineration is included in the EU ETS. I observe that the project of CCS at waste incineration is most sensitive to changes in operation and maintenance cost, saved costs, carbon credit prices and the share of biogenic emissions in the waste mix. The sensitivity analyzes indicate that the project is quite robust to changes.For å nå målet i Parisavtalen vil overgangen til fornybar energi og energieffektivisering være nødvendig, men ikke tilstrekkelig for å nå målet om 1,5 grader celsius. Ifølge FNs klimapanel og IEA må vi i større grad benytte fjerningsprosjekter og skape negative utslipp. Potensialet i avfallsbransjen er stort både for å kutte utslipp og å skape negative utslipp. Fanget CO2 med biogent opprinnelse skaper negative utslipp og omtrent 50 prosent av utslippene fra avfallsforbrenning er biogene. Karbonfangst- og lagring (CCS) krever betydelige investeringer og er i dag ulønnsomt i avfallsindustrien. Fanget biogent CO2 kvalifiseres for salg av karbonkreditter på det frivillige karbonmarkedet (VCM). VCM er et umodent og lite marked. Slik situasjonen er i dag, er det vanskelig for bedrifter å vite om salg av slik kreditter kan gjøre investering i CCS lønnsomt eller ikke. Denne oppgaven tar for seg utfordringen knyttet til høye kostnader og mangel på insentiver knyttet til CCS ved avfallsforbrenningsanlegg. Jeg undersøker om salg av frivillige karbonkreditter kan være et godt nok insentiv til å gjøre CCS av biogene utslipp lønnsomt for avfallsforbrenningsanlegg i 2030. Hovedfunnene i markedsanalysen viser at VCM vil vokse i årene frem mot og etter 2030. For et velfungerende VCM kreves det integritet i markedet. De viktigste faktorene for å oppnå dette er: et heterogent marked, unngå dobbelttelling, addisjonalitet og en felles standard for verifisering. Lønnsomhetsanalysene viser at salg av frivillige karbonkreditter fra de biogene utslippene kan føre til lønnsomhet ved investering i CCS ved avfallsforbrenningsanlegg. Dette krever at prisene i VCM settes høyt nok. Lavere priser i VCM kan aksepteres dersom avfallsforbrenning er inkludert i EU ETS. Jeg observerer at prosjektet er mest følsomt for endringer i drifts- og vedlikeholdskostnader, sparte kostnader, karbonkredittpriser og andelen biogene utslipp i avfallsblandingen. Sensitivitetsanalysene indikerer at prosjektet er ganske sterkt overfor endringer.M-FORN

Working Capital Management and Firm Performance : An empirical study of the relationship between net working capital and firm performance in Europe

Considering the magnitude of working capital as a proportion of a firm's total assets, working capital management should interest corporate managers. We will, in our master's thesis, examine if working capital management is value-enhancing. Our methods are based on Aktas et al. (2014) 's study on US firms from 1982 to 2011. In comparison to Aktas et al. (2014), we study the accounting data and stock performance from a sample of 7 725 listed European firms in 15 countries from 2005 to 2021. Previous studies on the subject have found evidence of a negative relationship between net working capital (NWC) and firm performance. The studies suggest that firms should reduce their NWC level to increase firm performance. However, because of differences in NWC level between firms within industries, it is not given whether all corporate managers should decrease investments in NWC. We, therefore, examine the existence of an optimal level of NWC to see if corporate managers can adjust NWC investment to increase profitability and stock returns. We answer this question by performing regression analyses on different performance measures. Based on our empirical results, we find evidence of the existence of an optimal level of NWC. Our findings show that corporate managers can adjust their NWC level to the optimal level of NWC in their industry to increase profitability. By performing additional tests with different profitability and time horizon measurements, we increase our findings' robustness. In addition, Aktas et al. (2014) also found evidence of an optimal NWC level, which strengthens the conclusion. However, compared to Aktas et al. (2014), our findings report a different effect for firms with positive and negative excess NWC, whereas our results show a stronger effect for firms with positive excess NWC. The results imply that corporate managers with a positive excess NWC level should be especially interested in adjusting the NWC level closer to the optimal level. In contrast to Aktas et al. (2014), we do not find evidence that NWC management can increase stock performance.nhhma

Vergleich dynamischer und statischer Variablen zur Prädiktion von Volumenreagibilität bei Säuglingen und Kleinkindern vor und nach Korrektur eines angeborenen Herzfehlers

Das hämodynamische Monitoring ist ein schwieriger und wichtiger Teil zur Überwachung und Optimierung des Volumenhaushaltes eines pädiatrischen Intensivpatienten. Im Rahmen einer prospektiven klinischen Studie erhoben und verglichen wir dynamische und statische Variablen zur Prädiktion der Volumenreagibilität von 26 Säuglingen und Kleinkinder vor und nach operativer Korrektur angeborener Herzfehler. Mittels arterieller Pulskonturanalyse und transpulmonaler Thermodilution erhoben wir GEDV, PPV und SVV vor und nach Volumengabe und verglichen sie mit der Änderungen des mittels transösophagealer Echokardiographie gemessenen Schlagvolumenindex. 15 der Kinder wurde aufgrund ihrer Erhöhung des Schlagvolumenindex von über 15% nach Volumengabe als Responder klassifiziert. 11 Kinder zeigten nach Volumengabe eine Zunahme des Schlagvolumenindex unter 15% und wurden demnach als Non-Responder klassifiziert. In Anwesenheit eines Links-Rechts-Shunts zeigte sich lediglich PPV als ein geeigneter Prädiktor der Volumenreagibilität. Nach operativer Korrektur des Links-Rechts-Shunts waren SVV, GEDV und PPV alle gute Prädiktoren der Volumenreagibilität. Die statische Variable ZVD war nicht in der Lage die Volumenreagibilität eines Patienten vorherzusagen

The Norwegian athletes’ heart. Cardiac screening of 595 professional soccer players

The main aim of cardiac screening in athletes is to reduce the prevalence of sudden cardiac death. Electrocardiography (ECG) is a diagnostic tool to detect athletes at increased risk, but “abnormal” ECG findings related to training are common in athletes, and a challenge to distinguish from pathological ECG findings. Blood pressure (BP) is recorded during screening examinations, and high BP accounts for the highest prevalence of abnormal findings. This has neither been emphasized as an isolated finding, nor in association to other cardiovascular risk factors. In 2008, 595 professional soccer players in Norway underwent cardiac screening. By applying the new Seattle criteria for abnormality, the prevalence of abnormal ECGs was reduced to 11%. Abnormal ECG findings were more common after computer-based vs visual measurements both according to the ESC recommendations (51% vs 29%), and the Seattle criteria (22% vs 11%). Every fourth player had high normal BP, and there was a significant association between increasing BP, and subclinical organ damages. High daytime ambulatory BP was estimated in every third player and high nighttime ambulatory BP in every second player. Echocardiography alone did not detect important abnormality. All players, except two with hypertension and left ventricular hypertrophy, got medical clearance. The Seattle criteria for interpreting ECG in athletes reduced the need for follow-up investigations, and based on echocardiographic evaluations this reduction increased the specificity of the Seattle criteria, without increasing the number of false negative ECGs. We experienced several difficulties when trying to decide the prevalence of abnormal ECGs in athletes, and revealed a need for new definitions of “standard” methodology. The novel findings of masked hypertension and high nighttime BP are surprising, and the associations between BP and hypertensive subclinical organ damages emphasize the need for closer focus on BP measurements

Unmet Needs of Children With Special Health Care Needs When Transitioning to Adult Services

Health care transition planning could help decrease health care disparities among those who identify as an individual on the autism spectrum; however, less than a quarter of the adolescent population living with autism spectrum disorder receive transition planning. Decreasing health care disparities could lead to an increase in health care quality and longevity. The purpose of this study was to analyze if there was a relationship between (a) the number of physician visits, (b) if the physician treats only children, (c) if the physician talks about the child seeing physicians who treat adults, (d) if the physician worked with the guardian to create a plan that identifies specific health goals or needs, and if (a) the physician helped the child develop skills to manage their health and (b) if the physician worked with the child to understand health care changes for both children with and without special health care needs. Secondary data from 5,638 parental respondents of children aged 17 years old to the 2017 National Survey of Children’s Health (NSCH) were used to conduct this quantitative analysis employing chi square tests guided by the Donabedian structure/process/outcome model. The findings support the hypothesis that a statistically significant relationship does not exist between the dependent variables and covariates. Future research could incorporate physician response data or racial and socioeconomic variables to find further significance. The findings of the study can positively influence social change by allowing health care administrators to implement initiatives within their organizations to further the improvement of transitional planning for adolescents

Feral cats use fine scale prey cues and microhabitat patches of dense vegetation when hunting prey in arid Australia

Introduced predators are one of the leading causes of decline in island vertebrates. Understanding how they hunt and kill threatened prey can help improve management activities. Although broadscale features are known to influence predator movement patterns, factors influencing fine scale movement are often overlooked. In particular, the influence of prey cues and microhabitat features has received little attention despite predators spending considerable time hunting prey using a range of visual, olfactory and auditory cues. Using feral cats as a case study, we utilised video and GPS collars combined with ground-truthing to determine if predators use fine-scale prey cues or microhabitat features to hunt in an arid environment. Feral cat activity was comprised of continuous traverses interspersed with periods of stationary activity (GPS clusters) generally less than 40 min in duration. Video collars confirmed that these clusters included the majority of stalk and pounce hunting bouts. Stationary activity was significantly focussed on prominent prey cues such as burrows, foraging digs or warrens of mammalian prey including both exotic (rabbits) and threatened native species (rodents, bilbies and bettongs). Evidence of prey kills was higher at cluster sites. Cats spent significantly more time at microsites with high vegetation cover including single shrubs and trees, suggesting that they use prominent prey cues and patches of thick cover to increase their probability of encountering prey and/or to conceal themselves during hunting or feeding activity. Results suggest prey species with conspicuous cues are at higher risk of predation and this vulnerability could increase over time as resident cats learn to identify the location of prey cues within their home range. Conversely, removing resident knowledgeable predators may reduce predation rates if immi- grating predators take time to learn to locate prey cues in their new environment. We urge re- searchers to investigate fine-scale drivers of movement patterns as this information is likely to be critical for long term management of predator species.K.E. Moseby, H.M. McGrego

The aftermath of surviving a sudden cardiac arrest for young exercisers- a qualitative study in Norway

Background: When surviving a sudden cardiac arrest (SCA), physical, cognitive, and emotional efects of surviving may be present for months or years. The survivors’ family and colleagues are also highly afected by the incident. There is little knowledge about experiences of surviving SCA in individuals who prior to the incident were young and reported to exercise regularly. Consequently, the aim of this study was to explore the aftermath of surviving a SCA in young, regular exercisers. Methods: The study had a qualitative design, conducting in-depth individual interviews with SCA survivors<50 years of age reporting to exercise≥5 h/week and/or who sufered SCA during or less than 60 min after exercise. The data were analysed using systematic text condensation in-line with recommendations from Malterud. Results: 18 of 31 eligible participants were included in the study. Through analysis we identifed ‘Establishing a new everyday life’ as superordinate category, with subordinate categories a) being part of my surroundings, b) expecting normality but facing a new reality and c) lucky to be alive! Conclusion: This study adds knowledge about young and regular exercisers’ experiences after surviving a SCA. The obligations of everyday life in young survivors of SCA often imply a high work load and complex tasks, e.g. due to being in the beginning of their career or even still studying. Healthcare personnel, as well as the society, need to acknowledge that although lucky to be alive and apparently well-functioning, young survivors of SCA may have per‑sistent challenges that cause frustration and reduced quality of life.publishedVersio

Experiences of cardiac arrest survivors among young exercisers in Norway: A qualitative study

Aim: To explore how young exercisers experience surviving sudden cardiac arrest (SCA), focusing on interpretation of warning signs and experi-ences with the healthcare system. Methods: The study had a qualitative design, and data was collected using individual, semi-structured interviews. Inclusion criteria were SCA sur-vivors aged 18–50 years old who reported at least five hours of exercise/week prior to SCA, or who suffered SCA during or 60 min after exercise. Results: 18 interviews were performed (4 females), age range 19–49 years old. Analysis identified the themes [1] neglected warning signs, [2] fluc-tuating between gratitude and criticism and [3] one size does not fit all. When young exercisers experienced symptoms such as fainting, chest pain, arrythmia, shortness of breath and fatigue, these were often ignored by either the participants, healthcare personnel or both. SCA survivors were grateful to the healthcare system and for the efforts made by healthcare personnel, but experienced a mismatch between what patients needed and could utilize, and what they actually received regarding both information and individualised services. Being young exercisers, the participants reported to have individual needs, but treatment and rehabilitation were not adapted and were mainly targeted to rehabilitation of older patients. Conclusion: Patients and healthcare personnel should be aware of cardiac related symptoms and warning signs for SCA, and these should be properly assessed in the population of young exercisers. SCA survivors need useful and repeated information. The needs of SCA survivors among young exercisers require individualisation of servicespublishedVersio