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Open AccessArticle

From Emissions Inventories to Cost Accounting: Making Business as Usual Visible for Climate Action Planning

by Mary Ann Cunningham and Kate G. Leventhal

Sustainability 2023, 15(15), 11657; https://doi.org/10.3390/su151511657 - 28 Jul 2023

Cited by 2 | Viewed by 3244

Greenhouse gas (GHG) inventories are widely considered a first step toward climate mitigation and adaptation planning, but progress completing inventories at the local level is often slow. Local governments may lack motivation to carry out inventories when staffing and funding are tight. Articulating the current costs of energy consumption could motivate cash-limited local governments and help justify investments in alternatives. Calculating financial savings of alternatives could further motivate planning. Here we demonstrate an approach to calculate operating costs (and potential savings) for a town in southern New York, using measures of heat consumption and eGallons to calculate expenditures. We find that business-as-usual community energy cost amount to $50–$60 million per year in funds exported from the community, or $10,000–$12,000 per household. By replacing gasoline vehicles with electric vehicles and oil-burning furnaces with heat pumps, the community could save around $20–$33 million per year, or $4400–$7000 per household. Local government operations costs could decline by over $70,000 per year. For a small government, such reductions could have a substantial financial impact. Adding a cost assessment to a standard GHG inventory appears reasonably straightforward, and if implemented broadly, it could increase the speed and effectiveness of GHG inventories and climate action planning. Full article

(This article belongs to the Special Issue Sustainable Urban Development and Regional Management)

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Open AccessArticle

International Corporate Cash Holdings and Firm-Level Exposure to COVID-19: Do Cultural Dimensions Matter?

by Khanh Hoang, Cuong Nguyen, Dung Viet Tran and Anh Phan

J. Risk Financ. Manag. 2022, 15(6), 262; https://doi.org/10.3390/jrfm15060262 - 9 Jun 2022

Cited by 4 | Viewed by 4873

Abstract

This study investigates the impact of COVID-19 exposure on corporate cash holdings using firm data across sixteen developing and developed economies. The results show that firms reserve more cash when their exposure to COVID-19 increases. We also find a cash burn effect during the COVID-19 pandemic, meaning that the cash holdings are drained when firm exposure to the pandemic exceeds a tipping point. The effect is more pronounced in larger firms and firms with less cash reserve. Further analyses reveal that the cash burn effect tends to be stronger in countries with a high level of individualism and weaker in countries with high levels of risk aversion, masculinity, and long-term orientation. The findings provide fresh insights into the connections among corporate cash holdings, national cultures, and firm-level exposure to COVID-19. Full article

(This article belongs to the Special Issue Infectious Disease Outbreaks, Uncertainties, Firms, and Financial Markets)

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