Carbon disclosure, carbon performance and financial performance: international evidence

This study examines the relationships and interrelationships between carbon disclosure and carbon performance, and between carbon performance and financial performance. It also examines the relationship between carbon disclosure and financial performance. Additionally, it investigates the relationship between agency cost and carbon disclosure, and between agency cost and carbon performance. Finally, this research investigates the trends in improvement of carbon disclosure and carbon performance of the companies, over the study period. The interrelationships between carbon disclosure and carbon performance, and between carbon performance and financial performance, have not been investigated by any study before. Similarly, no study has yet investigated the relationship between carbon disclosure and financial performance. The relationships between carbon disclosure/carbon performance and agency cost, have not been studied either by any previous research. Whilst a couple of studies have conducted trend analysis of carbon disclosure previously, no study has yet undertaken trend analysis of carbon performance. These examinations are performed by using a cross-sectional sample of the world’s largest 500 firms, drawn from most major industry sectors, who participated in the Carbon Disclosure Project (CDP) questionnaire survey over the five-year period from 2011 to 2015. Both full sample and country-wise analysis have been done, to test the hypotheses of this study. Carbon disclosure and carbon performance scores for the sample companies are taken from the CDP database. Data for financial performance indicators, agency costs and relevant control variables, are collected from Thomson Reuters Datastream database. Findings of this study indicate that there is a significant positive relationship between a firm’s carbon disclosure, and its carbon performance. They also indicate that carbon disclosure and carbon performance of business, influence each other positively. Country-wise analysis shows that carbon disclosure is significantly positively related to carbon performance in all of the four regions of this study - namely North America, EU, UK and Asia-Pacific. Both way positive interrelationship between carbon disclosure and carbon performance, holds true in all regions except the UK. The study also finds that carbon performance of a business is significantly negatively related to both accounting-based measure as well as market-based measure of a firm’s financial performance. It also finds that there is no significant interrelationship between carbon performance and accounting-based measure of a firm’s financial performance. However, carbon performance and market-based measure of a firm’s financial performance, influence each other negatively - this relationship might vary across industries. Carbon performance is negatively related to both accounting-based measure as well as market-based measure of a firm’s financial performance, in all regions except the UK. There is no significant and consistent interrelationship between carbon performance and any of the measures of firm financial performance, in any region. Results of this study indicate that there is a significant negative relationship between carbon disclosure and accounting-based measure of a firm’s financial performance. However, there is no significant and consistent relationship between carbon disclosure and a firm’s market-based financial performance. There is a significant negative relationship between carbon disclosure and accounting-based measure of a firm’s financial performance, in all regions. However, there is no significant relationship between carbon disclosure and market-based measure of a firm’s financial performance in any region. This study also finds out that there is a positive but insignificant relationship between carbon disclosure and agency cost, both when agency cost is measured by Expense Ratio or by Asset Utilization Ratio. Results also indicate that carbon performance does not significantly affect a firm’s agency cost when agency cost is measured by Expense Ratio. However, when agency cost is measured by Asset Utilization Ratio, there is a significant negative relationship between carbon performance and agency cost. Carbon disclosure and carbon performance both significantly positively affect agency cost in North America, however there is no significant and consistent relationship between agency cost and both carbon disclosure and carbon performance, in any other region. Results of this study show that the level of carbon disclosure for the sample companies, have significantly and consistently improved during the study period. On the other hand, carbon performance did not significantly improve towards the beginning of the study period. It started improving later, but these improvements were not always consistent. Country-wise analysis shows similar patterns in all regions. This study contributes to the literature that deals with the relationships and interrelationships between carbon disclosure, carbon performance and financial performance, by producing a number of novel findings that suggest there is a positive interrelationship between carbon disclosure and carbon performance; carbon performance and market-based measure of financial performance influence each other negatively; carbon disclosure and accounting-based measure of financial performance are negatively related and carbon performance negatively affects agency cost

Reducing the environmental impact of surgery on a global scale: systematic review and co-prioritization with healthcare workers in 132 countries

Abstract Background Healthcare cannot achieve net-zero carbon without addressing operating theatres. The aim of this study was to prioritize feasible interventions to reduce the environmental impact of operating theatres. Methods This study adopted a four-phase Delphi consensus co-prioritization methodology. In phase 1, a systematic review of published interventions and global consultation of perioperative healthcare professionals were used to longlist interventions. In phase 2, iterative thematic analysis consolidated comparable interventions into a shortlist. In phase 3, the shortlist was co-prioritized based on patient and clinician views on acceptability, feasibility, and safety. In phase 4, ranked lists of interventions were presented by their relevance to high-income countries and low–middle-income countries. Results In phase 1, 43 interventions were identified, which had low uptake in practice according to 3042 professionals globally. In phase 2, a shortlist of 15 intervention domains was generated. In phase 3, interventions were deemed acceptable for more than 90 per cent of patients except for reducing general anaesthesia (84 per cent) and re-sterilization of ‘single-use’ consumables (86 per cent). In phase 4, the top three shortlisted interventions for high-income countries were: introducing recycling; reducing use of anaesthetic gases; and appropriate clinical waste processing. In phase 4, the top three shortlisted interventions for low–middle-income countries were: introducing reusable surgical devices; reducing use of consumables; and reducing the use of general anaesthesia. Conclusion This is a step toward environmentally sustainable operating environments with actionable interventions applicable to both high– and low–middle–income countries

Carbon disclosure, carbon performance and financial performance: international evidence

This study examines how carbon performance affects carbon disclosure and how carbon disclosure affects financial performance. With a sample of global firms, the study analyses how relationships between carbon disclosure, carbon performance and financial performance vary in institutional contexts. Our results show that carbon disclosure positively affects carbon performance, consistent with the signalling theory. We find that carbon disclosure negatively (positively) affects financial performance in the short-term (long-term). Our findings have significant implications for investors as some firms use carbon disclosure as part of impression management. Our results help regulators to monitor carbon disclosure and assist investors with investment decisions

Energy storage usages: Engineering reactions, economic‐technological values for electric vehicles—A technological outlook

At present with the massive induction of distributed renewable energy sources (RES), energy storage systems (ESS) have the potential to curb the intermittent nature of micro sources and provide a steady supply of power to the load. It gives an optimum solution and considers as a major part of intelligent grids. For making a green environment, Electric Vehicle (EV) is the best option that emits zero exhaust gases, cleaner, less noisy and eco-friendly compared to engine-based vehicles. It could embark power sanctuary by allowing open access to RES. Nonetheless, EVs presently face encounters in the deployment of ESSs, inroad to their reliability, capacity, price, and online management issues. This study comprehensive review about technical advancements of ESSs, its detailed taxonomy, features, implementation, possibilities with system differences, and additional features of particularly EV applications. Hence, in this current study, technical analysis of Energy storage systems, its leading technologies, core assets, global energy stakeholders, economic merits and techniques on energy conversion is provided. Besides, the way of deploying energy storage techniques, the barriers and assessments are also presented to give a wider scope in this particular area

Comparative G-Protein-Coupled Estrogen Receptor (GPER) Systems in Diabetic and Cancer Conditions: A Review

For many patients, diabetes Mellitus and Malignancy are frequently encountered comorbidities. Diabetes affects approximately 10.5% of the global population, while malignancy accounts for 29.4 million cases each year. These troubling statistics indicate that current treatment approaches for these diseases are insufficient. Alternative therapeutic strategies that consider unique signaling pathways in diabetic and malignancy patients could provide improved therapeutic outcomes. The G-protein-coupled estrogen receptor (GPER) is receiving attention for its role in disease pathogenesis and treatment outcomes. This review aims to critically examine GPER’ s comparative role in diabetes mellitus and malignancy, identify research gaps that need to be filled, and highlight GPER’s potential as a therapeutic target for diabetes and malignancy management. There is a scarcity of data on GPER expression patterns in diabetic models; however, for diabetes mellitus, altered expression of transport and signaling proteins has been linked to GPER signaling. In contrast, GPER expression in various malignancy types appears to be complex and debatable at the moment. Current data show inconclusive patterns of GPER expression in various malignancies, with some indicating upregulation and others demonstrating downregulation. Further research should be conducted to investigate GPER expression patterns and their relationship with signaling pathways in diabetes mellitus and various malignancies. We conclude that GPER has therapeutic potential for chronic diseases such as diabetes mellitus and malignancy

SARS-CoV-2 vaccination modelling for safe surgery to save lives: data from an international prospective cohort study

Background: Preoperative SARS-CoV-2 vaccination could support safer elective surgery. Vaccine numbers are limited so this study aimed to inform their prioritization by modelling. Methods: The primary outcome was the number needed to vaccinate (NNV) to prevent one COVID-19-related death in 1 year. NNVs were based on postoperative SARS-CoV-2 rates and mortality in an international cohort study (surgical patients), and community SARS-CoV-2 incidence and case fatality data (general population). NNV estimates were stratified by age (18-49, 50-69, 70 or more years) and type of surgery. Best- and worst-case scenarios were used to describe uncertainty. Results: NNVs were more favourable in surgical patients than the general population. The most favourable NNVs were in patients aged 70 years or more needing cancer surgery (351; best case 196, worst case 816) or non-cancer surgery (733; best case 407, worst case 1664). Both exceeded the NNV in the general population (1840; best case 1196, worst case 3066). NNVs for surgical patients remained favourable at a range of SARS-CoV-2 incidence rates in sensitivity analysis modelling. Globally, prioritizing preoperative vaccination of patients needing elective surgery ahead of the general population could prevent an additional 58 687 (best case 115 007, worst case 20 177) COVID-19-related deaths in 1 year. Conclusion: As global roll out of SARS-CoV-2 vaccination proceeds, patients needing elective surgery should be prioritized ahead of the general population