Environmental Economics最新文献

{"title":"Decarbonization in the maritime industry: Factors to create an efficient transition strategy","authors":"Viktoriia Koilo","doi":"10.21511/ee.15(2).2024.04","DOIUrl":"https://doi.org/10.21511/ee.15(2).2024.04","url":null,"abstract":"The maritime industry faces intense scrutiny to address climate change amidst strict environmental regulations and societal expectations. The paper mainly focuses on understanding and evaluating the key factors driving the transition toward decarbonization in shipping. The study utilized qualitative analysis, focusing on reviewing current environmental targets set by major regulatory bodies, notably the International Maritime Organization (IMO) and the European Union (EU). The study concludes that a clear strategy for reducing emissions is essential, and a holistic approach must be adopted. Thus, the investigation identified several critical factors that can facilitate the creation of an effective strategy to achieve net zero emissions, comply with regulatory goals, and reduce current emissions. They are decarbonization levels (solutions), ecosystem (value chain), and drivers (enablers), collectively referred to as the decarbonization LED model. The study emphasizes the importance of stakeholder engagement and policy advocacy to support zero-emission transition. For instance, the paper explores the sector’s decarbonization potential through a value chain perspective (Scope 3): employing the life-cycle approach to assess the complete environmental footprint of ship – “Cradle-to-Grave” frameworks (from raw material extraction, production, and product use, until the end of its life) and “Well-to-Wake” methodology to evaluate greenhouse gas emissions from fuel production to end-use by a ship. Additionally, the paper assesses the potential impacts of environmental regulations in the maritime sector, predicting significant transformations in the industry’s operational, technological, and collaborative practices.\u0000AcknowledgmentThis study was partially supported by the SEUS project – Horizon Europe Framework Programme (HORIZON), under grant agreement No 101096224. This article reflects only the authors’ views, and the European Commission is not responsible for any use that may be made of the information it contains.","PeriodicalId":52974,"journal":{"name":"Environmental Economics","volume":"16 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141809233","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Governmental approaches to food security management: A bibliometric analysis","authors":"Eldar Guliyev, Bayali Atashov, Aygun Guliyeva","doi":"10.21511/ee.15(2).2024.03","DOIUrl":"https://doi.org/10.21511/ee.15(2).2024.03","url":null,"abstract":"The government’s duty is to guarantee unimpeded access to food. Thus, relevant public policies, individual methods and tools, approaches, and strategic decisions are always the focus of attention of scientists, politicians, and government officials. Recognizing the critical importance of this imperative, this study aims to conduct a bibliometric analysis that sheds light on the scientific landscape of strategic public administration of food security. The paper conducts a bibliometric analysis of scientific publications (using VosViewer – from 1990 to February 2024 using Scopus and WoS scientometric databases); monographs/textbooks (using Google Books and Ngram Viewer – for 1990–2019); and trend analysis (using Google Trends – from 2004 to February 2024). The analysis showed an exponential increase in the number of publications since 2000, with peaks in 2008 (financial crisis), 2019–2020 (COVID-19), and 2023 (threat to food security due to military conflicts). The clustering of scientific papers by content showed that the most significant (red) cluster unites research that links food security to agricultural development, sustainable development, climate change, and water supply. The spatial clustering of scientific publications revealed that scientific leadership belongs to scientists from the United States and China. The largest research funders are Chinese scientific institutions. It also reflected regional differences in research focus. In particular, Italy, Switzerland, and France emphasize agricultural innovation and quality standards, while China and Australia focus on increasing yields and food storage technologies.","PeriodicalId":52974,"journal":{"name":"Environmental Economics","volume":" April","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141824091","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Implementation of eco-control system by Indonesian manufacturing firms: Understanding the mediating role of organizational culture","authors":"Muhammad Try Dharsana, Andi Iqra Pradipta Natsir, Fakhrul Indra Hermansyah, Khaerunnisa Nur Fatimah Syahnur","doi":"10.21511/ee.15(2).2024.02","DOIUrl":"https://doi.org/10.21511/ee.15(2).2024.02","url":null,"abstract":"Implementing eco-control is a strategic way for companies to prevent environmental damage. This paper aims to analyze the effect of perceived environmental uncertainty and stakeholder pressure on system implementation through environmentally oriented organizational culture as a mediating variable. This study utilizes the PLS-SEM model using a sample of 104 manufacturing companies in Indonesia; 197 respondents from those companies completed the survey. All variables used in the research model are significant for a formative measurement model, and an internal model applied met all criteria. This study confirms a negative relationship between perceptions of environmental uncertainty and environmentally oriented organizational culture (β = 0.174, p < 0.01). The opposite effect is shown by the relationship between stakeholder pressure and organizational culture (β = 0.379, p < 0.01), and the positive effect of organizational culture on the implementation of eco-control in companies is significant (β = 0.650, p < 0.01). In addition, organizational culture partially mediates the relationship between perceptions of environmental uncertainty and the implementation of the eco-control system (β = 0.317, p < 0.05) and between stakeholder pressure and the implementation of this system (β = 0.401, p < 0.05). When companies through managers face uncertainty from the ecological environment and stakeholder pressure, they should utilize an eco-control system, which can succeed in profit goals and environmental responsibility.","PeriodicalId":52974,"journal":{"name":"Environmental Economics","volume":"27 35","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141685575","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Is corporate social responsibility effective in improving environmental quality? Literature review","authors":"N. Piluso","doi":"10.21511/ee.15(2).2024.01","DOIUrl":"https://doi.org/10.21511/ee.15(2).2024.01","url":null,"abstract":"Considering continuing environmental degradation linked to economic activity, it seems essential to examine the role companies can play in implementing sustainable development. This study aims to analyze lessons learned from standard theories on the effectiveness of corporate social and environmental responsibility. Indeed, corporate social responsibility and state intervention are frequently compared under the dual lens of collective well-being and environmental quality. For some economists, corporate social responsibility is preferable to state intervention from the point of view of maximizing collective well-being. By contrast, according to some other authors, state intervention is more effective for both maximizing well-being and protecting the environment. This literature review shows that corporate social responsibility is theoretically no more effective than public intervention in environmental protection: companies can be encouraged to commit themselves to protecting the environment under restrictive conditions, but this does not eliminate the essential importance of public intervention. Analysis of the assumptions of neoclassical models shows that, in reality, they do not take into account all the properties of a public good, i.e., all the properties of the climate and the environment. Finally, the conditions for implementing CSR are incompatible with maximizing collective well-being, which explains why public intervention is theoretically preferable to CSR.","PeriodicalId":52974,"journal":{"name":"Environmental Economics","volume":"3 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141689338","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Evaluating the efficiency of public expenditure in municipal waste collection: A comparative study of Portuguese municipalities","authors":"Ricardo de Moraes e Soares","doi":"10.21511/ee.15(1).2024.15","DOIUrl":"https://doi.org/10.21511/ee.15(1).2024.15","url":null,"abstract":"Effective waste management is fundamental to sustainable development and the well-being of societies. This study focuses on the financial efficiency of urban waste collection in Portuguese municipalities, with the aim to analyze the effects of the allocation of public resources in the waste management sector. The main objective is to analyze the relationship between public spending and waste collection over a five-year period. Through the application of the classic data envelopment analysis model (DEA), the study seeks to observe the existence of benchmarking patterns, identify possible inefficiencies, and determine opportunities for improvement in urban waste management and collection practices. The results suggest substantial variations in waste collection efficiency between municipalities and a positive correlation between public spending and the volume of waste collected. The results emphasize the need for a strategic allocation of financial resources in order to promote sustainable waste management practices. The paper highlights the importance of municipalities reassessing their strategies for allocating financial resources to ensure a better balance between funding and efficiency in the use of resources. The conclusions offer valuable practical implications for defining strategies and managing municipal waste collection services in Portugal and other countries with similar contexts.\u0000AcknowledgmentThis article is financed by Instituto Politécnico de Setúbal [Polytechnic Institute of Setúbal]. ","PeriodicalId":52974,"journal":{"name":"Environmental Economics","volume":" 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141363804","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Examining the relationship between environmental management accounting practices and return on equity in the South African chemical industry","authors":"Tracy Cornellissen, S. Mukwarami","doi":"10.21511/ee.15(1).2024.14","DOIUrl":"https://doi.org/10.21511/ee.15(1).2024.14","url":null,"abstract":"Environmental management accounting practices (EMAPs) have become pervasive, and continued efforts to ensure universal implementation across various sectors often represent financial implications for organizations. Despite many studies that examined the relationship between EMAPs and financial performance, the debate is still inconclusive. Therefore, the study paves the way for chemical firms to explore the effectiveness of EMAPs’ implementation for both financial and environmental gain. The study used purposive sampling to gather quantitative secondary data from annual integrated reports of chemical firms to examine the relationship between EMAPs and financial performance in the South African chemical industries during 2016–2022. Following the results from the regression estimations, two of the EMAPs – water and energy usage – have had a positive relationship with financial performance, with the latter being highly significant. Contradictorily, carbon emissions and environmental expenditure adversely and insignificantly influenced financial performance. The results suggest that chemical firms have in place ineffective carbon management strategies that fail to generate sustainable returns. Overall, the results acknowledge the efforts of chemical industries in making substantial contributions to enhance environmental performance and encourage environmentalists and policymakers to reconfigure environmental policies for improved environmental and financial performance. Further research on environmental management accounting (EMA) barriers in chemical industries is imperative to achieving environmental sustainability.","PeriodicalId":52974,"journal":{"name":"Environmental Economics","volume":"113 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141376806","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Environmentally related taxes and their influence on decarbonization of the economy","authors":"Olena Dobrovolska, Swen Günther, Olga Chernetska, Natalia Dubrova, S. Kachula","doi":"10.21511/ee.15(1).2024.13","DOIUrl":"https://doi.org/10.21511/ee.15(1).2024.13","url":null,"abstract":"Environmental taxes ensure sustainable development, but their fiscal and environmental effectiveness differs for countries with different socio-economic characteristics. This study aims to compare the impact of environmental tax revenues on economy’s decarbonization (measured through carbon productivity – the ratio of GDP to carbon dioxide emissions) in different countries, considering their green technologies development and carbon emissions. The paper analyzed OECD and World Bank statistical data for 38 OECD countries for 2002–2021 using linear panel regression models with fixed and random effects (using Hausman test and STATA 18). To identify explicit and latent patterns of this influence, which are common to certain countries, this analysis did not consider each country separately but targeted clusters, distinguished by Ward and Sturges methods based on the effective tax rate on carbon emissions, total environmental tax revenues, total carbon emissions, and carbon productivity. The positive influence of environmental tax revenues on the economy’s decarbonization level has been confirmed for 29 countries (four from six clusters). The effect is the largest for the USA (an increase in tax revenues by 1% leads to an increase in carbon productivity by 0.9% on average) and the smallest – for the cluster including Austria, Belgium, Canada, Costa Rica, Czechia, Estonia, France, Germany, Hungary, Iceland, Korea, Lithuania, New Zealand, Poland, Portugal, Slovakia, Spain, and the Great Britain (increase – 0.1%). The negative impact was confirmed for nine countries (two from six clusters): Denmark, Finland, Israel, Latvia, and Sweden (decrease – 0.3%) and Greece, Italy, the Netherlands, and Slovenia (decrease – 0.21%).","PeriodicalId":52974,"journal":{"name":"Environmental Economics","volume":"19 11","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141270918","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Impact of sustainability reporting initiatives on the financial performance of Philippine listed companies","authors":"Kevin Troy Chua, Hae-Young Byun","doi":"10.21511/ee.15(1).2024.11","DOIUrl":"https://doi.org/10.21511/ee.15(1).2024.11","url":null,"abstract":"Concerns for the environment and sustainability require entities to contribute to societal development toward sustainable advancement. There is also an increasing demand for high-quality and reliable reports on sustainability-related matters. The study aims to highlight the impact of sustainability reporting initiatives on financial performance through the GRI reporting framework and four determinants of financial performance – return on assets (ROA), return on equity (ROE), and basic and diluted earnings per share (EPS). Conducting random effects generalized least square (GLS) regression, this paper examines 127 firm-year observations from 47 Philippine listed entities covering 2019–2021. The results show a significant negative relationship between the total sustainability reporting initiative index score and financial performance, represented by return on equity (coefficient = –0.4690, z-value = –1.68). Moreover, there is a positive significant relationship between economic reporting and financial performance, particularly return on assets, basic earnings per share, and diluted earnings per share (coefficients = 0.1590, 12.6200, 12.6500; z-values = 3.11, 1.72, 1.73). A negative significant relationship exists between social reporting and financial performance, particularly return on equity and basic and diluted earnings per share (coefficients = –0.5530, –14.1600, –14.1400; z-values = –2.04, –2.65, –2.65). This study pioneers an investigation into the nascent implementation of Securities and Exchange Commission (SEC) sustainability reporting and the implications of sustainability initiatives on corporate performance in the Philippines. The results shed light on the dynamics of sustainability initiatives and financial outcomes to encourage firms to harmonize economic success with environmental preservation and societal advancement toward value creation.","PeriodicalId":52974,"journal":{"name":"Environmental Economics","volume":"43 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141112943","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Revealing the contribution of corporate sustainability practices to financial performance: Case of BIST Sustainability 25 Index companies","authors":"Yuliia Serpeninova, S. Lehenchuk, N. Zdyrko, D. Zakharov, O. Podolianchuk","doi":"10.21511/ee.15(1).2024.10","DOIUrl":"https://doi.org/10.21511/ee.15(1).2024.10","url":null,"abstract":"The purpose of the paper is to study the impact of corporate sustainability practices on the financial performance of companies included in the BIST Sustainability 25 Index. To assess the efficiency and quality of corporate sustainability, general (ESG Disclosure Index) and partial (Environmental Disclosure Index, Social Disclosure Index, and Corporate Governance Disclosure Index) indices were used, calculated based on content analysis of sustainability reports. Based on the two given types of indices and four types of financial performance indicators (return on assets, return on equity, assets turnover ratio, and Tobin’s Q), two types of regression models (GEN models and PART models) were built, and eight analytical models were examined. Company size and leverage were included as control variables in each model. The regression analysis results were contradictory, partially confirming the conclusions of some scientists and refuting the findings of others. A study of GEN models revealed that companies implementing more effective general corporate sustainability practices have a significant positive impact only on return on equity; as for other measures (return on assets, assets turnover ratio, and Tobin’s Q), an insignificant relationship between them and ESG Disclosure Index was found. Results of the PART models analysis revealed a significant positive effect of the Social Disclosure Index on return on equity and assets turnover ratio and a negative relationship between the Corporate Governance Disclosure Index and assets turnover ratio. Using control variables for the two types of models showed a significant negative effect of company size on Tobin’s Q.\u0000AcknowledgmentThis study was supported by the Ministry of Education and Culture of Ukraine within the project “Development of a mechanism for the sustainable development of economic systems in the conditions of military operations and post-war recovery of the economy” (Registration number of the project: 0124U000463).","PeriodicalId":52974,"journal":{"name":"Environmental Economics","volume":"82 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140973823","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Factors influencing green bond yield: Evidence from Asia and Latin American countries","authors":"Abhilash Abhilash, Sandeep S. Shenoy, Dasharathraj K. Shetty","doi":"10.21511/ee.15(1).2024.09","DOIUrl":"https://doi.org/10.21511/ee.15(1).2024.09","url":null,"abstract":"Despite numerous studies in the domain of green bonds, a paucity of literature concentrates on emerging countries’ green bonds. To fill this void, this study aims to examine the factors influencing green bond yield in the Asian and Latin American contexts. The data are compiled from the Bloomberg and Fred databases between 2017 and 2022. The panel regression with the Generalized Least Square method was employed. The results reveal that Asian green bonds provide higher yields with less risk to their investors than Latin American green bonds. The regression results of Asian green bonds show negligible effects of all factors, except coupon rate with a positive effect (β = 0.844), indicating its remarkable influence on green bond yield. However, the findings of Latin American green bonds uncover that coupon (β = 0.780), maturity (β = 0.025), and bond rate (β = 2.472) surpass the green bonds yield due to their positive effects, whereas issue size (β = –1.215) causes a reduction in the green bonds yield with their negative effect. Further, Environmental, Social, and Governance disclosure shows a positive (β = 1.611) effect, indicating better yield for investors due to their potential power to vanish greenwashing in these markets. Moreover, interest rate and GDP exert significant positive (β = 0.141) and negative (β = –0.030) effects on green bond yield, respectively. This observation implies that higher lending rates increase bond yield, whereas GDP-led growth provides lower yield due to better economic prospects and high investor demand for the bonds.\u0000AcknowledgmentThe authors are grateful to Manipal Academy of Higher Education (MAHE), Manipal, for providing financial assistance in the form of a “JRF Contingency Grant” for this research article.","PeriodicalId":52974,"journal":{"name":"Environmental Economics","volume":"29 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140980463","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}