Search Results (10)

The pursuit of sustainable development has received much attention recently as nations confront increasing environmental, social, and economic difficulties. In order to comprehend sustainable development’s many facets and provide a plan for achieving them, this study conducts a thorough analysis of the concept. The study’s dependent variable, environmental footprint, is based on a research model. On the other hand, financial inclusion, human capital development, green growth, technological innovation, and renewable energy are the independent factors. This study used secondary data collected between 1990 and 2022. To better capture the variable indicators, the index for green growth is constructed using the entropy-weighted technique. The panel dataset problem was resolved by using diagnostic tests, which include cointegration, correlation, cross-sectional dependence, variance inflation factor (VIF), and stationarity tests. The findings of the diagnostic test indicated that a fully modified ordinary least square would be the best approach to use with this panel. According to the findings, the long-term variance is 55%. Renewable energy, green growth, and technological innovation have a substantial negative link with financial risk, while greenhouse gas emissions, financial inclusion, and human capital development have a significant and positive relationship. Environmental sustainability may benefit from policies that the government creates and funds for sustainable development. The findings imply that the government should provide incentives in terms of financial resilience to technological innovations and natural resources so that they would switch to green sources and help to improve the quality of the environment that would be sustainable. Full article

This study aims to assist in the identification of suitable key performance indicators (KPIs) that can be used to assess the sustainability performance of buildings given their transition into zero-carbon, resource-efficient, and resilient structures. To that end, a four-step methodology is proposed in this work; the first step includes the development of a KPI repository, which builds upon commonly accepted targets derived from the needs of different stakeholders as well as targets imposed by external factors. The second step refers to the expansion of the initial KPI repository, capitalizing on information from the literature. The third step includes the refinement of the repository based on predefined criteria (relevance, availability, measurability, reliability, and familiarity) and tailored feedback from key stakeholders. The final step concerns the development of KPI cards, which include all the necessary information for understanding and estimating the KPIs included in the final repository. This four-step methodological approach implementation was tested during the EU-funded HORIZON project ‘InCUBE’. The implementation of the first two steps of the proposed methodology resulted in a pool of 68 KPIs. Nearly half of these KPIs were extracted from Step 1 to fully support the monitoring of all InCUBE outcomes, while the rest of the KPIs were extracted from highly relevant Horizon frameworks, the B4P partnership, Level(S) framework, publications, and ETSI standards (Step 2). The implementation of Step 3 resulted in a shortlisted KPI pool which eventually defined the final InCUBE KPI repository, including 31 KPIs. To help with the coordination of the data gathering process and a shared understanding of the sort of information to be monitored among various stakeholders, selected KPI cards (Step 4) are presented. Full article

We study the valuation of a pension fund’s obligations in a discrete time and space incomplete market model. The market’s incompleteness stems from the non-replicability of the wage process that finances the pension plan through time. The contingent defined-benefit liability of the pension fund is a function of the wages, which can be seen as the payoff of a path-dependent derivative security. We apply the notion of the super-hedging value and propose its difference from the current pension’s fund capital as a measure of distance to liability hedging. The induced closed-form expressions of the values and the related investment strategies provide insightful comparative statistics. Furthermore, we use a utility-based optimization portfolio to point out that in cases of sufficient capital, the application of a subjective investment criterion may result in heavily different strategies than the super-hedging one. This means that the pension fund will be left with some liability risk, although it could have been fully hedged. Finally, we provide conditions under which the effect of a possible early exit leaves the super-hedging valuation unchanged. Full article

The capacity of forests to store carbon, combined with time-tested approaches to managing forests, make forests a useful tool for atmospheric carbon mitigation. The primary goals of this study are to determine the amount of unrealized mitigation available from Improved Forest Management (IFM) in the Acadian Forest of New England in the northeastern U.S., and to demonstrate how this mitigation can feasibly be attained. This study used the Forest Vegetation Simulator (FVS) to model the impacts of IFM practices articulated by the New England Forestry Foundation on carbon storage in the Acadian Forest. Our results, together with empirical data from well-managed forests, show that if the modeled improved management is employed on privately owned timberland across the Acadian Forest of New England, carbon storage could be increased by 488 Tg CO₂e. Our financial modeling shows that IFM could be funded in this region by combining income from carbon markets with the philanthropic funding of conservation easements, timber revenues, and capital investments from private investors who prioritize social and economic goals alongside financial returns. This study adds to the body of evidence from around the world that the potential for managed forests to contribute to climate change mitigation has not been fully realized. Full article

Human Papillomavirus (HPV) is the main cause of cervical cancer and genital warts and constitutes one of the most common sexually transmitted infections. Cervical cancer is the only reproductive cancer that has a primary prevention programme through the introduction of HPV vaccinations. Even though the majority of European countries have nationally funded HPV vaccination programmes, in Poland these are exclusively local and scarcely funded. Moreover, the majority of local programmes are directed to females only. Meanwhile, Poland has one of the highest cervical cancer incidence rates among high income countries. The aim of this study was to measure HPV vaccination levels among final-year students in Poland and to establish the association between vaccination status and gender, region and level of sexual education received. This study is a part of the POLKA 18 Study, which used original self-reported paper-based questionnaires distributed in schools in six Polish regions. The study was conducted between April and December 2019. The obtained data were analysed in STATA 17. In total, 2701 fully completed questionnaires were collected. Over half of the respondents (58.2%) did not know their HPV vaccination status. Only 16.0% of the respondents replied that they have been vaccinated against HPV (18.2% of females and 14.5% of males). There was no direct association between vaccination status and access to ‘family life education’ classes. The vaccination level significantly differed among the different regions of Poland (p < 0.0001), with the Śląskie and Wielkopolskie regions achieving the highest rates. At least a quarter of adolescents after their sexual debut have not been vaccinated against HPV. Regions with immunization programmes introduced to their provincial capitals had higher vaccination rates. Our findings indicate the need for the introduction of state-funded vaccination programmes at the national level for the vaccination rate to increase, which will have the potential to decrease cervical cancer incidence in the country. Full article

The broadly used pay-as-you-go (PAYG) pension system is intrinsically wrong. The essence of the problem is that the PAYG system distributes the yield of raising children, i.e., of human capital investment (which is essentially the pension contribution), in such a way that it disregards the extent to which individuals have contributed to this, and even whether it has occurred at all. This error can be corrected if we take the pension contribution to be the yield on an investment of human capital, and as such use this to pay back the costs and expenses of the raising of the contribution payer—overall to those who paid these costs and expenses at the time. Accordingly, the central question of my study is whether it is possible to construct a consistent pension system based on the above foundations, and how my ideas may be inserted into the Diamond–Samuelson model. The method of the study was logical analysis and the construction of a theoretical mathematical model. The results of the study show that it is possible to construct a public pension system that operates according to a different logic than today’s system, a system which is free from the effects of demographic fluctuations, which does not motivate the refusal to have children, and which will remain self-sufficient under all circumstances. The study achieves this by presenting a possible pension system of this kind in detail. Via the suitable modification of the Diamond–Samuelson model, I have succeeded in showing that the pension system I am proposing increases the willingness to have children up to the social optimum, in contrast to the fully (but traditionally) funded and PAYG systems. This system currently only exists in theory and may be regarded as a major theoretical innovation, which naturally has certain (although not particularly extensive) antecedents. Its introduction could enable the resolution of the contradictions of existing pension systems and could also provide a solution to the as yet unsolved problem of the increasingly expensive regeneration of human capital, and as such, its potential practical implications are immeasurable. Full article

Public pay-as-you-go pension systems are affected by sustainability problems due to the increasing longevity of the population. These problems come to light when there is unsustainable growth in pension expenditure in relation to GDP. The usual arrangement is for public systems to be complemented by private systems that provide a lifetime annuity paid alongside the public pension. This approach, which is horizontal in its way of thinking, is the one that all countries apply; in it, we can expect to find lifetime annuities, which are expensive because they have to take increasing longevity into account, as well as sustainability problems in the public accounts. Therefore, in this paper, we put forward a system that maintains the complementarity between private and public, but considers it from a vertical point of view. By this, we mean that over a certain period of time, the private system would provide the pension in the form of a temporary income, without the need to consider such a high longevity risk, and then in the following period, the public system would take over. We apply the model to Spain, one of the countries whose pension systems are most affected by problems of sustainability, and observe a decrease in the relationship between pension expenditure and GDP using this two-stage model as opposed to the current system, for the period 2025–2068. This decrease can be achieved without decrease of benefits, change in the retirement age or increase of the contribution level. Full article

This paper presents findings from a research study into the role that communication plays in the safety of vulnerable road users (VRUs), including a literature review, a hypothesis, and a case study testing our hypothesis. Many governments and road authorities lack capital or have not made it a priority to implement full VRU safety measures, with many gaps in VRU infrastructure and networks. These gaps leave VRUs to take safety into their own hands, including use of conspicuity aids such as high-visibility wear, helmets, bells, and lights with differing levels of effectiveness. The knowledge gap regarding the conventional wisdom, “be safe, be seen,” is the absence of communication and comprehension between road users (VRUs and vehicles). We hypothesize that communication aids are equally, if not more important than visibility aids for VRU safety. A case study was conducted to measure the effectiveness of several Hi-Viz safety vest designs including online surveys and separate in-field experiments using Instrumented Probe Bicycles. The results suggest that Hi-Viz safety vests using arrow designs (ArroWhere’s proprietary products and designs) similar to those found in the Manual on Uniform Traffic Control Devices (MUTCD) can increase VRU safety until road authorities can fully fund and complete proper and sustainable VRU networks. Full article

This paper presents a conceptual model of land as a coupled human–environment system. Land use and land cover are incorporated as elements of the human and environment system respectively. Drivers and associated processes that influence land use, land cover, and land system dynamics are incorporated within a set of sub-systems. The model includes consideration of driving sub-systems as a set of capital funds and flows, and how these are influenced by linkages between processes in the human (socio-economic) and environment systems and sub-systems. The model is consistent with existing models of the biophysical earth system used by the land change, earth system sciences, and socio-ecological systems communities. The purposes of the model are to provide (i) a holistic framework within which descriptions, models and analyses that focus on various components of land can be placed to describe and explain land systems and land system changes; and (ii) a guide for the development of more fully integrated and interdisciplinary understanding, analysis and study of land use and land cover dynamics, with explicit focus on relationships between human and natural systems. Full article

In this paper, we consider compositions of conditional risk measures in order to obtain time-consistent dynamic risk measures and determine the solvency capital of a life insurer selling pension liabilities or a pension fund with a single cash-flow at maturity. We first recall the notion of conditional, dynamic and time-consistent risk measures. We link the latter with its iterated property, which gives us a way to construct time-consistent dynamic risk measures from a backward iteration scheme with the composition of conditional risk measures. We then consider particular cases with the conditional version of the value at risk, tail value at risk and conditional expectation measures. We finally give an application of these measures with the determination of the solvency capital of a pension liability, which offers a fixed guaranteed rate without any intermediate cash-flow. We assume that the company is fully hedged against the mortality and underwriting risks. Full article