Global PolicyPub Date : 2024-12-05DOI: 10.1111/1758-5899.13465
Nan Zhou, José Luis Vilar-Zanón, Jose Garrido, Antonio José Heras-Martínez
{"title":"Measuring climate change from an actuarial perspective: A survey of insurance applications","authors":"Nan Zhou, José Luis Vilar-Zanón, Jose Garrido, Antonio José Heras-Martínez","doi":"10.1111/1758-5899.13465","DOIUrl":"https://doi.org/10.1111/1758-5899.13465","url":null,"abstract":"<p>Climate change refers to persistent alterations to global Earth's climate, such as a rise in global temperatures, which have reached unprecedented peaks in recent years. At the same time, global mean ocean-and-sea levels are on an upward trajectory. These climatic shifts significantly influence the frequency, intensity, and duration of extreme weather events, such as heatwaves, heavy precipitations, droughts, floods, and tropical cyclones, which represent substantial risks and challenges for the insurance industry. This paper delves into the profound impact of climate change on the insurance sector, with a particular focus on the agriculture, property, health, and life insurance industries. Our scientific approach consists in measuring climate change through an index composed of a basket of climate and weather-related extremes, such as the Actuarial Climate Index™ (ACI) defined in and for North America, and its European counterparts, the Iberian ACI (IACI) and French ACI (FACI) climate indices. We discuss how these indices help quantify the impact of climate change on the balance sheets of insurance companies and, therefore, its impact on the sustainability of the insurance business. The paper underscores the pressing need for the insurance industry to adapt and strategically plan for the increasing risks associated with climate change.</p>","PeriodicalId":51510,"journal":{"name":"Global Policy","volume":"15 S7","pages":"34-46"},"PeriodicalIF":2.2,"publicationDate":"2024-12-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1758-5899.13465","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142860322","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Economic, social and environmental sustainability in uncertainty times","authors":"María-Jesús Segovia-Vargas, María-del-Mar Camacho-Miñano","doi":"10.1111/1758-5899.13464","DOIUrl":"https://doi.org/10.1111/1758-5899.13464","url":null,"abstract":"<p>This paper provides an introduction to this Special Issue on sustainability from different approaches. In a global situation of uncertainty due to wars, political conflicts, elections, social inequalities, and climate emergency, sustainability emerges as a potential solution. However, the pursuit of social, economic, and environmental sustainability is a complex task with many facets. Our contribution is multifaceted and ranges from insurance to zombie companies, climate change regulation, temporary trade measures, financial reporting transparency standards, earnings management, and social enterprises, among others. This introduction provides an overview of all the topics that we have covered as well as their main findings and implications.</p>","PeriodicalId":51510,"journal":{"name":"Global Policy","volume":"15 S7","pages":"4-7"},"PeriodicalIF":2.2,"publicationDate":"2024-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1758-5899.13464","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142860048","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"From strategic autonomy to strategic partnership: EU–India relations in health diplomacy","authors":"Sanjay Pattanshetty, Aniruddha Inamdar, Priya Vijaykumar Poojary, Ilona Kickbusch, Helmut Brand","doi":"10.1111/1758-5899.13459","DOIUrl":"https://doi.org/10.1111/1758-5899.13459","url":null,"abstract":"<p>The study examines the potential of the European Union (EU)–India cooperation in health diplomacy and the exchange of lessons learned by both actors. Particularly, the growing discourse on achieving strategic autonomy in health has not been adequately analysed in the existing literature, which is surprising given that both actors share this interest. This paper begins by contextualising the discourse of strategic autonomy in the European and Indian political discourse with a specific focus on achieving autonomy in health and subsequently argues for a transition from strategic autonomy to a strategic partnership by recognising the strategic interdependencies. A qualitative content analysis was used to analyse all 16 EU–India summits to locate health diplomacy in their relations and present recommendations for future cooperation. The shift from strategic autonomy to strategic partnership also necessitates a strategic vision towards shaping the EU–India cooperation. With the upcoming EU–India Summit in 2025, research and development, strengthening supply chains, harmonisation of regulations, and financing of healthcare are key areas that can be deliberated on to enhance the cooperation between the two global actors in healthcare.</p>","PeriodicalId":51510,"journal":{"name":"Global Policy","volume":"15 5","pages":"901-914"},"PeriodicalIF":2.2,"publicationDate":"2024-11-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1758-5899.13459","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142707566","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Global PolicyPub Date : 2024-10-29DOI: 10.1111/1758-5899.13455
María Jesús Segovia-Vargas, María del Mar Camacho-Miñano, Vera Gelashvili
{"title":"Social sustainability: Viability analysis of social firms","authors":"María Jesús Segovia-Vargas, María del Mar Camacho-Miñano, Vera Gelashvili","doi":"10.1111/1758-5899.13455","DOIUrl":"https://doi.org/10.1111/1758-5899.13455","url":null,"abstract":"<p>Social enterprises are firms that actively create jobs for people with disabilities and reduce social and labour inequalities, thereby participating in the social economy. Due to their importance to society and the work they do towards diversity integration and social sustainability, they have recently attracted much attention in academic literature. For this reason, the main objective of this study was to analyse the survival of social enterprises, identifying key variables that condition their continuity in the market or their failure. The initial sample consisted of 999 social enterprises for the year 2022. The Altman <i>Z</i>-score and artificial intelligence (AI) algorithms were used to obtain the basic survival patterns. The main findings were that, on average, social enterprises are highly experienced companies and only one-third of them are at risk of bankruptcy. This means that most of these enterprises can continue their social function. Moreover, the results of return on assets (ROA), equity and debt turnover can predict being at risk of bankruptcy of social enterprises. This study contributes to the scarce academic literature on social enterprises and promotes the existence of such enterprises for social and economic sustainability.</p>","PeriodicalId":51510,"journal":{"name":"Global Policy","volume":"15 S7","pages":"83-98"},"PeriodicalIF":2.2,"publicationDate":"2024-10-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1758-5899.13455","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142862390","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Global PolicyPub Date : 2024-10-15DOI: 10.1111/1758-5899.13449
Elisabeth Paul, Garrett W. Brown, David Bell, Valéry Ridde, Joachim Sturmberg
{"title":"Preparing for pandemics needs a dose of public health and a booster of “complex thought” (Errare humanum est, perseverare diabolicum)","authors":"Elisabeth Paul, Garrett W. Brown, David Bell, Valéry Ridde, Joachim Sturmberg","doi":"10.1111/1758-5899.13449","DOIUrl":"https://doi.org/10.1111/1758-5899.13449","url":null,"abstract":"<p>The COVID-19 pandemic has triggered unprecedented governmental responses worldwide, revealing weaknesses in health systems and public health policies due to lack of “complex thought” required to manage complex adaptive systems. Understanding COVID-19 response strategies' multiple effects is particularly important now that pandemic preparedness and response (PPR) is on top of the global health political agenda. Here, we adopt a complex adaptive systems approach to critically analyze the literature and draw lessons from the COVID-19 response to inform future PPR strategies. We observe that in many contexts, strategies implemented in response to COVID-19 were poorly effective, inefficient, and inequitable. We explain the limitations of these prevailing measures and propose approaches and strategies to manage pandemics arising from a “systems thinking” perspective. PPR demands the adoption of an evolving, evidenced-informed, and context-specific strategy based on comprehensive approaches reflecting the complexities of health crises. This means moving away from single-focused health security paradigms to consider the full range of health problems facing populations and adopting a package of interventions chosen via participatory and deliberative processes that are context-specific and sensitive, as well as evidence-driven, to ensure a fair balance between various pillars of pandemic responses: health promotion, non-pharmaceutical interventions, prophylaxis, vaccines, and treatments.</p>","PeriodicalId":51510,"journal":{"name":"Global Policy","volume":"15 5","pages":"969-978"},"PeriodicalIF":2.2,"publicationDate":"2024-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1758-5899.13449","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142707594","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Global PolicyPub Date : 2024-10-15DOI: 10.1111/1758-5899.13458
Andrew J. Keith
{"title":"Governance of artificial intelligence in Southeast Asia","authors":"Andrew J. Keith","doi":"10.1111/1758-5899.13458","DOIUrl":"https://doi.org/10.1111/1758-5899.13458","url":null,"abstract":"<p>Governance of artificial intelligence (AI) has not achieved global participation. The primary state-led instrument focusing specifically on the global governance of artificial intelligence is the Global Partnership on Artificial Intelligence (GPAI). Although GPAI aims for broad international participation, the only GPAI member from Southeast Asia is Singapore. GPAI's imbalanced global participation, restrictive membership process, and limited translations are potential barriers to Southeast Asian participation. However, a comparative policy analysis suggests that GPAI members and nonmembers in Southeast Asia have AI governance policies which are largely compatible, despite key differences. This study uses quantitative topic-modeling and qualitative content analysis to compare the AI governance policies of Indonesia, Malaysia, Thailand, and Vietnam with the policies of Australia and Singapore, as reference GPAI members. The policies of GPAI, Australia, and Singapore emphasise the function of ethics while the policies of Indonesia, Malaysia, Thailand, and Vietnam emphasise the function of human capital development. State-led, global AI governance efforts could attract more Southeast Asian participation by further emphasising human capital development and deemphasising the function of ethics. GPAI could increase the likelihood of Southeast Asian participation by decreasing its emphasis on political systems, allowing intergovernmental organisations to join, and recruiting all G20 members.</p>","PeriodicalId":51510,"journal":{"name":"Global Policy","volume":"15 5","pages":"937-954"},"PeriodicalIF":2.2,"publicationDate":"2024-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142707593","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Global PolicyPub Date : 2024-10-10DOI: 10.1111/1758-5899.13437
Yue Zhang, Fei Ji
{"title":"The Belt and Road Initiative, outward foreign direct investment and total factor productivity—Evidence from China","authors":"Yue Zhang, Fei Ji","doi":"10.1111/1758-5899.13437","DOIUrl":"https://doi.org/10.1111/1758-5899.13437","url":null,"abstract":"<p>This article takes the proposal of the Belt and Road Initiative (BRI) in 2013 as a quasinatural experiment, uses the difference-in-difference model and data on China's listed companies from 2010 to 2021 to examine the relationship between outward foreign direct investment (OFDI) and total factor productivity in the micro level. The empirical results show that after the BRI is put forward, enterprise investments in countries along the Belt and Road have a reverse ‘productivity effect’ at first, with the implication of being the strongest in 2015 but are no longer significant by 2017; furthermore, the BRI has a significant positive effect on the total factor productivity of enterprises in 2021. Potential irrational investments and low investment efficiency can better explain this phenomenon, as investment efficiency declined at the beginning of the BRI but steadily increased after 2019, which is consistent with the negative to positive ‘productivity effect’. Extended analysis and robustness tests support the above conclusions.</p>","PeriodicalId":51510,"journal":{"name":"Global Policy","volume":"15 S6","pages":"23-40"},"PeriodicalIF":2.2,"publicationDate":"2024-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1758-5899.13437","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142435009","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Global PolicyPub Date : 2024-10-10DOI: 10.1111/1758-5899.13439
Hong Liu, Celia Lee, Jeremy Goh
{"title":"Introduction: Agile governance for a volatile, uncertain, complex and ambiguous world","authors":"Hong Liu, Celia Lee, Jeremy Goh","doi":"10.1111/1758-5899.13439","DOIUrl":"https://doi.org/10.1111/1758-5899.13439","url":null,"abstract":"<p>This special issue on ‘Governing a VUCA World’ aims to contribute to ongoing endeavours in expanding the practices and theories of governance by bringing in perspectives and case studies from the Global South at a time of great turbulence and uncertainties. It hopes to further advance discussions pertaining to various aspects of Asian experiences of governance in developing a model of transnational governance that embraces agility and flexibility in navigating a VUCA world that is fraught with volatility, uncertainty, complexity and ambiguity.</p>","PeriodicalId":51510,"journal":{"name":"Global Policy","volume":"15 S6","pages":"5-11"},"PeriodicalIF":2.2,"publicationDate":"2024-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1758-5899.13439","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142435278","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Global PolicyPub Date : 2024-10-10DOI: 10.1111/1758-5899.13434
Zhijian Wang
{"title":"Road to human-centric smart city governance in Japan: The case of Fujisawa sustainable smart town","authors":"Zhijian Wang","doi":"10.1111/1758-5899.13434","DOIUrl":"https://doi.org/10.1111/1758-5899.13434","url":null,"abstract":"<p>While the smart city literature extensively discusses the human-centric approach to smart city governance, empirical evidence remains limited. This study examines the practical applications of this approach and considers the remaining challenges, using the case of the Sustainable Smart Town of Fujisawa, Japan. It focuses on institutionalisation, organisational transformation, and public participation, highlighting the achievements and limitations of human-centric governance in this context. In Fujisawa, a practical approach to human-centric governance emerged to overcome bureaucratic barriers to implementing smart city initiatives. This includes formulating smart city policies tailored to the urban context and introducing institutional reforms in the local government; these allow the city to engage with multiple stakeholders and prioritise citizens' needs. However, several challenges persist, such as the limited competence of the local smart city department to drive a citywide initiative and limited governmental digitalisation. Furthermore, while public opinion is collected by certain advanced digital tools, there is no mechanism for stakeholder dialog or direct citizen participation in decision-making processes; this lack of engagement prevents the city from adequately addressing citizens' needs. Addressing these limitations is vital for achieving a human-centric approach in local smart city initiatives.</p>","PeriodicalId":51510,"journal":{"name":"Global Policy","volume":"15 S6","pages":"84-91"},"PeriodicalIF":2.2,"publicationDate":"2024-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1758-5899.13434","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142435273","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Global PolicyPub Date : 2024-10-10DOI: 10.1111/1758-5899.13432
Hak Seng Ang
{"title":"Sustainable Environmental, Social and Governance (ESG) development of China and ASEAN in a volatile, uncertain, complex, and ambiguous (VUCA) world","authors":"Hak Seng Ang","doi":"10.1111/1758-5899.13432","DOIUrl":"https://doi.org/10.1111/1758-5899.13432","url":null,"abstract":"<p>A volatile, uncertain, complex and ambiguous (VUCA) world presents both challenges and opportunities. One good example is the increased focus on Environmental, Social and Governance (ESG), which can be viewed as a barrier for growth or as a competitive advantage for countries. For countries to view ESG as a competitive advantage, there are three key opportunities to tap on. First, nations could collaborate on ESG technology, specifically on the development, deployment or building of ESG technological infrastructure. Second, nations could share best practices regarding their solutions to social issues such as social mobility. Third, nations could collaborate to harmonise ESG standards to promote trade between countries.</p>","PeriodicalId":51510,"journal":{"name":"Global Policy","volume":"15 S6","pages":"106-112"},"PeriodicalIF":2.2,"publicationDate":"2024-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1758-5899.13432","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142435276","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}