Search Results (189)

This study explores whether sustainability achievements—proxied through ESG (environmental, social, and governance) reporting—are associated with superior financial performance in Latvia’s manufacturing sector, where ESG maturity remains low and institutional readiness is still emerging. Building on stakeholder, legitimacy, signal, slack resources, and agency theories, this study applies a mixed-method approach (that consists of two analytical stages) suited to the limited availability and reliability of ESG-related data in the Latvian manufacturing sector. Financial indicators from three large firms—AS MADARA COSMETICS, AS Latvijas Finieris, and AS Valmiera Glass Grupa—are compared with industry averages over the 2019–2023 period using independent sample T-tests. ESG integration is evaluated through a six-stage conceptual schema ranging from symbolic compliance to performance-driven sustainability. The results show that AS MADARA COSMETICS, which demonstrates advanced ESG integration aligned with international standards, significantly outperforms its industry in all profitability metrics. In contrast, the other two companies remain at earlier ESG maturity stages and show weaker financial performance, with sustainability disclosures limited to general statements and outdated indicators. These findings support the synergy hypothesis in contexts where sustainability is internalized and operationalized, while also highlighting structural constraints—such as resource scarcity and fragmented data—that may limit ESG-financial alignment in post-transition economies. This study offers practical guidance for firms seeking competitive advantage through strategic ESG integration and recommends policy actions to enhance ESG transparency and performance in Latvia, including performance-based reporting mandates, ESG data infrastructure, and regulatory alignment with EU directives. These insights contribute to the growing empirical literature on ESG effectiveness under constrained institutional and economic conditions. Full article

Silvopastoral systems, though ecologically beneficial, remain underrepresented in the European Union’s Common Agricultural Policy and are seldom studied in Mediterranean contexts. The current study assesses both the environmental and economic aspects of five typical silvopastoral systems in central Greece, encompassing cattle, sheep, and goat farming. A Life Cycle Assessment approach was implemented to quantify greenhouse gas emissions using economic allocation, distributing impacts between milk and meat outputs. Enteric fermentation was the major emission source, accounting for up to 65.14% of total emissions in beef-based systems, while feeding and soil emissions were more prominent in mixed and small ruminant systems. Total farm-level emissions ranged from 60,609 to 273,579 kg CO₂eq per year. Economically, only beef-integrated systems achieved an average annual profitability above EUR 20,000 per farm, based on financial data averaged over the last five years (2020–2024) from selected case studies in central Greece, while the remaining systems fell below the national poverty threshold for an average household, underscoring concerns about their economic viability. The findings underline the dual challenges of economic viability and policy neglect, stressing the need for targeted support if these multifunctional systems are to add value to EU climate goals and rural sustainability. Full article

Ecosystem services—the benefits humans derive from nature—are foundational to environmental sustainability and economic well-being, with carbon sequestration and storage standing out as critical regulating services in the fight against climate change. This study presents a comprehensive financial valuation of the carbon sequestration, storage and product substitution ecosystem services provided by the Hungarian forest-based sector. Using a multi-scenario framework, four complementary valuation concepts are assessed: total carbon storage (biomass, soil, and harvested wood products), annual net sequestration, emissions avoided through material and energy substitution, and marketable carbon value under voluntary carbon market (VCM) and EU Carbon Removal Certification Framework (CRCF) mechanisms. Data sources include the National Forestry Database, the Hungarian Greenhouse Gas Inventory, and national estimates on substitution effects and soil carbon stocks. The total carbon stock of Hungarian forests is estimated at 1289 million tons of CO₂ eq, corresponding to a theoretical climate liability value of over EUR 64 billion. Annual sequestration is valued at approximately 380 million EUR/year, while avoided emissions contribute an additional 453 million EUR/year in mitigation benefits. A comparative analysis of two mutually exclusive crediting strategies—improved forest management projects (IFMs) avoiding final harvesting versus long-term carbon storage through the use of harvested wood products—reveals that intensified harvesting for durable wood use offers higher revenue potential (up to 90 million EUR/year) than non-harvesting IFM scenarios. These findings highlight the dual role of forests as both carbon sinks and sources of climate-smart materials and call for policy frameworks that integrate substitution benefits and long-term storage opportunities in support of effective climate and bioeconomy strategies. Full article

Governance challenges, success factors, and stakeholder dynamics are central to the implementation of Positive Energy District (PED) Labs, which aim to develop energy-positive and sustainable urban areas. In this paper, a qualitative analysis combining expert surveys, participatory workshops with practitioners from the COST Action PED-EU-NET network, and comparative case studies across Europe identifies key barriers, drivers, and stakeholder roles throughout the implementation process. Findings reveal that fragmented regulations, social inertia, and limited financial mechanisms are the main barriers to PED Lab development, while climate change mitigation goals, strong local networks, and supportive policy frameworks are critical drivers. The analysis maps stakeholder engagement across six development phases, showing how leadership shifts between governments, industry, planners, and local communities. PED Labs require intangible assets such as inclusive governance frameworks, education, and trust-building in the early phases, while tangible infrastructures become more relevant in later stages. The conclusions emphasize that robust, inclusive governance is not merely supportive but a key driver of PED Lab success. Adaptive planning, participatory decision-making, and digital coordination tools are essential for overcoming systemic barriers. Scaling PED Labs effectively requires regulatory harmonization and the integration of social and technological innovation to accelerate the transition toward energy-positive, climate-resilient cities. Full article

The Road-STEAMer Horizon Europe Program examines STEAM (Science, Technology, Engineering, Arts, and Mathematics) education policies across Europe, with a specific focus on integrating the arts into traditional STEM disciplines. Through the analysis of open-access repositories, official documents, and stakeholder interviews, this study conducts both a macroanalysis of European policies and a detailed analysis of national initiatives. The research categorizes EU member states into three groups: high-priority countries (Belgium, France, Bulgaria, Finland, and Germany), countries acknowledging the importance of STEAM with partial initiatives, and those in early development stages. Special attention is given to grassroots initiatives. The findings reveal significant variation among member states and affiliated countries, driven by unique national challenges. In many cases, STEM/STEAM programs are closely linked to broader societal issues, such as financial development, digital transition, and social inequalities. Full article

Decarbonization has become a central policy and industrial priority across the European Union, driven by increasingly ambitious climate targets. The EU’s regulatory framework now mandates a 55% reduction in CO₂ emissions by 2030 (compared to 1990 levels), with the overarching goal of achieving climate neutrality by 2050. This challenge is particularly critical for energy-intensive and hard-to-abate sectors, such as the glass industry. This paper begins with a brief overview of the relevant EU regulations and the structure of the Italian glass sector. It then identifies seven key decarbonization levers applicable to the industry. Drawing on literature data and expert consultations, these levers are integrated into two main decarbonization strategies tailored to the Italian context, both aligned with the 2050 net-zero target. This study further analyzes the estimated implementation costs, the barriers associated with each lever, and potential solutions to overcome them. Finally, Italian strategies are compared with decarbonization approaches adopted in other major European countries. The findings indicate that the transition to climate neutrality in the glass sector, while technically and economically plausible, remains highly contingent on the timely deployment of enabling technologies, the alignment of regulatory and financial frameworks, and the establishment of sustained, structured cooperation between industrial stakeholders and public authorities. Full article

Background: Economic logistics in fire and rescue services is a critical determinant of operational readiness, fiscal sustainability, and resilience to large-scale emergencies. Despite its strategic importance, logistics remains under-researched in Central and Eastern European contexts, where legacy governance structures and EU-funded modernization coexist with systemic inefficiencies. This study focuses on the Slovak Fire and Rescue Service (HaZZ) as a case to explore how economic logistics systems can be restructured for greater performance and value. Objective: The objective of this paper was to evaluate the structure, performance, and reform potential of the logistics system supporting HaZZ, with a focus on procurement efficiency, lifecycle costing, digital integration, and alignment with EU civil protection standards. Methods: A mixed-methods design was applied, comprising the following: (1) Institutional analysis of governance, budgeting, and legal mandates based on semi-structured expert interviews with HaZZ and the Ministry of Interior officers (n = 12); (2) comparative benchmarking with Germany, Austria, the Czech Republic, and the Netherlands; (3) financial analysis of national logistics expenditures (2019–2023) using Total Cost of Ownership (TCO) principles, completed with the visualization of cost trends and procurement price variance through original heat maps and time-series graphs. Results: The key findings are as follows: (1) HaZZ operates a formally centralized but practically fragmented logistics model across 51 district units, lacking national coordination mechanisms and digital infrastructure; (2) Maintenance costs have risen by 42% between 2019 and 2023 despite increasing capital investment due to insufficient lifecycle planning and asset heterogeneity; (3) Price variance for identical equipment categories across regions exceeds 30%, highlighting the inefficiencies in decentralized procurement; (4) Slovakia lacks a national Logistics Information System (LIS), unlike peer countries which have deployed integrated digital platforms (e.g., CELIS in the Czech Republic); (5) Benchmarking reveals high-impact practices in centralized procurement, lifecycle-based contracting, regional logistics hubs, and performance accountability—particularly in Austria and the Netherlands. Impacts: Four high-impact, feasible reforms were proposed: (1) Establishment of a centralized procurement framework; (2) national LIS deployment to unify inventory and asset tracking; (3) adoption of lifecycle-based and performance-based contracting models; (4) development of regional logistics hubs using underutilized infrastructure. This study is among the first to provide an integrated economic and institutional analysis of the Fire and Rescue Service logistics in a post-socialist EU member state. It offers a structured, transferable reform roadmap grounded in comparative evidence and adapted to Slovakia’s hybrid governance model. The research bridges gaps between modernization policy, procurement law, and digital public administration in the context of emergency services. Full article

The real estate sector is steadily moving towards zero-emission buildings, driven by EU policies to achieve near-zero energy (NZEB) buildings by 2050. In Italy, more than 70% of residential buildings fall into the lower energy classes, and this mainly affects low-income households. As a result, the decarbonisation of the real estate sector presents both technical and socio-economic obstacles. Building on these premises, this study introduces the Retrofit Optimization Problem (ROP), a methodological framework adapted from the Multidimensional Knapsack Problem (MdKP). This method is used in this study to conduct a qualitative analysis of accessibility to retrofit between different socio-economic groups, integrating constraints to simulate restructuring capacity based on different incomes. The results show significant disparities: although many retrofit strategies can meet regulatory energy performance targets, only a small number are financially sustainable for low-income households. In addition, interventions with the greatest environmental impact remain inaccessible to vulnerable groups. These preliminary results highlight important equity issues in the energy transition, indicating the need for specific and income-sensitive policies to prevent decarbonisation efforts from exacerbating social inequalities or increasing the risk of assets being stranded in the housing market. Full article

The European Union (EU) is advancing a digital twin of its electricity grid as a flagship initiative to accelerate the dual transitions of decarbonization and digitalization. By creating a real-time virtual replica of the EU-27 power network, policymakers and industry stakeholders aim to enhance grid efficiency, resilience, and renewable energy integration. This review provides a comprehensive analysis of the three critical dimensions shaping the digital twin’s development: (1) regulatory barriers, including fragmented policies, inconsistent data governance frameworks, and the need for harmonized standards and incentives across member states; (2) technological challenges, such as achieving interoperability, integrating real-time data, developing robust cybersecurity measures, and ensuring scalable infrastructure; and (3) economic opportunities, centered on potential cost savings, optimized asset management, new flexibility services, and pathways for innovation and investment. Drawing on European Commission policy documents, regulatory reports, academic studies, and industry projects like the Horizon Europe TwinEU initiative, this review highlights that significant groundwork has been laid to prototype and federate local grid twins into a cohesive continental system. However, achieving the full potential of a pan-European digital twin will require additional regulatory harmonization, more mature data-sharing protocols, and sustained financial commitment. This review concludes with an outlook on the strategic convergence of policy reforms, collaborative R&D, and targeted funding, emphasizing how institutional momentum, federated architectures, and cross-sector integration are advancing a secure, resilient, and economically viable digital twin that is envisioned as a foundational layer in the operational and planning infrastructure of Europe’s future electricity system. Full article

The recent COVID-19 and energy crises have intensified energy poverty (EP) in Europe, driven by skyrocketing energy prices and worsening financial pressures. This paper measures the different EP dimensions in three different EU Member States, namely Spain, Italy, and France, and carries out a comparative analysis of the EP situation in these countries between 2017 and 2022. This study reveals that, despite some disparities, the Member States share similar EP trends, with an alarming increase in the population living in dwellings with the presence of leaks, dampness, and rot. Also, the EP situation seemed to improve in all three countries until 2019, but it has since worsened. This reinforces that harmonized metrics and policies to address EP at the EU level could be relevant, especially in neighboring countries. This article also proposes an econometric analysis applied to the French case study to unpack the characteristics of households vulnerable to EP. Although the results are not univocal, some energy vulnerability drivers have been identified, such as a low level of education, being inactive or unemployed, or having a large family to support. These factors might help EU decision-makers in designing policies to tackle EP adequately. Full article

The European Union’s latest common agricultural policy (CAP) aims to minimise the negative consequences of agriculture on the environment and climate. This ambition has been translated into the introduction of eco-schemes, which stimulates farmers to transition to sustainable agriculture. This paper answers three questions regarding the operation of the eco-scheme for livestock farming in The Netherlands. First, who are the recipients of the eco-scheme grants? Second, how have EU grants developed over time for these recipients? Third, do eco-scheme recipients farm more sustainably? To answer these questions, we conducted an empirical analysis based on administrative and microeconomic data, which included indicators to measure sustainable farming practices. Our results show that most recipients of the Dutch eco-scheme are dairy farmers and that larger farms receive relatively more grant funding per hectare. The introduction of the eco-scheme marked a shift toward less grant funding for income support and more to encourage sustainable farming practices. This has triggered a significant downturn in the financial situation of many Dutch dairy farmers. Dairy farmers who score higher on sustainability indicators on average benefit more from the eco-scheme, although there is also a substantial share of dairy farmers who have benefited financially but score relatively low on sustainability. These insights contribute to the further improvement of the EU’s agricultural policies toward a successful transition to more sustainable agriculture. Full article

This study investigates the spatial dynamics of participation in the carbon farming eco-scheme in Poland under the EU CAP for 2023–2027. Addressing the broader context of sustainable agriculture and climate change mitigation, this research explores how farm size and structural characteristics influence the adoption of regenerative practices incentivised through this eco-scheme. Using spatial statistical methods, including the global Moran’s I test and the global spatial cross-correlation index, this study analyses county-level data from 2023 to 2024 on farm size, the number of beneficiaries, and payment levels. The findings reveal distinct spatial clusters in eco-scheme participation, with larger farms showing greater regional concentration and smaller farms displaying stronger local clustering in payment distribution. The findings highlight varied spatial mechanisms that influence adoption and financial support patterns, indicating that both farm size and regional context play a significant role in shaping the uptake of eco-schemes. This study emphasises the significance of comprehensive spatial and socio-economic data in the formulation of effective, evidence-based policies pertaining to sustainable agriculture. It establishes a basis for more precisely targeted interventions and optimal resource allocation, thereby supporting both national and EU climate objectives while simultaneously enhancing the resilience and sustainability of rural regions. Full article

Nature-Based Solutions offer a concrete opportunity to integrate nature into cities and strengthen their resilience, in response to global challenges related to climate change, biodiversity loss, and water management, which are exacerbated by urban expansion and its impacts on the built environment. This study aims to analyze various European policies and urban greening practices, considering not only some European Union member states but also other cities geographically located in Europe. The main goal is to explore how these solutions are used in various European cities to address environmental challenges and improve urban quality of life. The study highlights the growing role of greening strategies in EU urban policies as key tools to tackle global challenges. It finds that green interventions—such as green roofs, façades, and green urban spaces—offer multifunctional benefits, but their effectiveness relies on integrated planning, strong public–private cooperation, and active community involvement. Key challenges include the limited scalability of these solutions in dense or economically constrained areas and the need for long-term financial and institutional support. Overall, the study highlights that greening is not merely aesthetic but central to building regenerative and climate-resilient cities. Full article

The United Kingdom has long been a frontrunner in green finance, establishing programs like the Green Finance Institute to promote corporate engagement in sustainable initiatives. The Green Finance Strategy, enacted in 2019, aligns UK financial procedures with international standards, including the EU taxonomy for sustainable Activities. The study examined how sustainable finance enhances the corporate reputation of the firms listed on the London Stock Exchange. A purposive sampling yielded 17 years of data from 143 non-financial companies from the Thomson Reuters Eikon DataStream between 2007 and 2023. In dealing with the issue of endogeneity and auto-serial correlation, the Generalized Methods of Movement (GMM) was employed to provide reliable and unbiased estimation results. The study revealed a positive impact of green bond issues, environmental expenditures, and policies for emission reduction on corporate reputation. The moderating relationship between green bond issues, environmental expenditures, and board diversity revealed a positive and significant relationship with corporate reputation. Managers should ensure that their endorsed activities gain public recognition and align with sustainability goals, particularly by emphasizing the issuance of green bonds in their financing strategy. They should also collaborate with environmental experts and stakeholders to ensure that the outcomes of funded projects are evaluated in line with international ESG standards. Full article

The evolving macroeconomic landscape, shaped by the global financial crisis and the COVID-19 pandemic, poses significant challenges for economies worldwide. However, Central, Eastern, and Southeastern European (CESEE) countries have demonstrated resilience and rapid recovery during crises, driven by a surge in consumption fueled by domestic credit and robust export growth supported by flexible exchange rates and adaptive monetary policies. Prior to EU accession, substantial foreign direct investment (FDI) during privatization and restructuring facilitated knowledge and technology transfers in CESEE economies. This study examines the interplay of exports, real exchange rates, GDP growth, FDI, inflation, domestic credit, and the human development index (HDI) in the CESEE region from 1995 to 2022, covering the transition period, EU accession, and major crises. Employing a panel ARDL model, we account for asymmetric effects of these variables on exports. The results reveal that GDP, FDI, inflation, domestic credit, and HDI significantly and positively influence exports, with HDI and GDP exerting the strongest effects, underscoring the pivotal roles of human capital and economic growth in enhancing export competitiveness. Conversely, real exchange rate depreciation negatively impacts exports, though non-price factors, such as product quality, mitigate this effect. These findings provide a robust basis for targeted policy measures to strengthen economic resilience and export performance in the CESEE region. Full article