Search Results (80)

This study aims to map the scientific knowledge of bank profitability and its determinants. It identifies trends and gaps in existing research through a bibliometric analysis. To this end, 634 documents published in the Web of Science database over the last 54 years were analyzed using the bibliometric package. The results indicate an increase in the volume of publications following the 2008 financial crisis, focusing on analyzing the factors influencing bank profitability and economic growth. The Journal of Banking and Finance is the preeminent publication in this field. The literature reviewed shows that bank profitability depends on internal factors (size, credit risk, liquidity, efficiency, and management) and external factors (such as GDP, inflation, interest rates, and unemployment). In addition to the traditional determinants, the recent literature highlights the importance of innovation and technological factors such as digitalization, mobile banking, and electronic payments as relevant to bank profitability. ESG (environmental, social, and governance) and governance indicators, which are still emerging but have been extensively researched in companies, indicate a need for evidence in this area. This paper also provides relevant insights for the formulation of monetary policy and the strategic formulation of banks, helping managers and owners to improve bank performance. It also provides directions for future empirical studies and research collaborations in this field. Full article

From the perspective of credit ratings, this paper studies the impact of air pollution on corporate credit costs and the impact mechanism. Based on 2007–2022 data on A-share listed companies in the Chinese capital market, this paper uses a two-way fixed effects model to examine the impact of air pollution on corporate credit costs and the impact mechanism. The results show that air pollution increases the credit costs for enterprises because air pollution affects the sentiment of rating analysts, leading them to give more pessimistic credit ratings to enterprises located in areas with severe air pollution. The moderating effect analysis reveals that the effect of air pollution on the increase in corporate credit costs is more pronounced for high-polluting industries, manufacturing industries, and regions with weaker bank competition. Further analysis reveals that in the face of rising credit costs caused by air pollution, enterprises tend to adopt a combination strategy of increasing commercial credit financing and reducing the commercial credit supply to cope. Although this response behavior alleviates corporations’ own financial pressure, it may have a negative effect on supply chain stability. This paper provides new evidence that reveals that air pollution is an implicit cost in the capital market, enriching research in the fields of environmental governance and capital markets. Full article

The synthesis of graphitic carbon nitride (g-C₃N₄) coupled with tin sulfide (SnS) has been identified as an effective method for improving the photocatalytic and electrochemical performance of SnS, a promising material for environmental and energy-related applications. In this study, we focused on how g-C₃N₄ influences the structural, optical, electrochemical, and functional properties of SnS. XRD and FTIR confirmed the formation of SnS/g-C₃N₄ heterostructure, while surface morphology analysis by SEM showed proper dispersion of SnS particles over g-C₃N₄ with a good interface contact. The SnS/g-C₃N₄ composite itself demonstrated improved photocatalytic performance, with the degradation rate of methylene blue reaching approximately 94% under visible light irradiation compared to the moderate activity of SnS. This enhancement can be credited to the successful charge carrier separation enabled by the type II heterojunction created between SnS and g-C₃N₄. Moreover, the composite presented improved electrochemical activity with a specific capacitance of 1340 F·g⁻¹ at a scan rate of 10 A·g⁻¹ and good cycling stability, where the capacitance was 92% after 5000 cycles. As such, these SnS/g-C₃N₄ composites suggest the specific application of this class of material in photocatalytic degradation as well as energy storage, putting forward new effective resolutions to environmental and energy issues. Full article

Sustainable mineral resource management is critical amid escalating environmental concerns and growing demand for minerals in digital and clean energy technologies. While financial technology (FinTech) has been widely recognized for enhancing financial inclusion and economic efficiency, its role in environmental governance—particularly in the mining sector—remains underexplored, especially within developed economies like the United States. This study addresses this gap by examining how FinTech adoption influences mineral sustainability, using time series data from 1998 to 2023. Four FinTech proxies—mobile cellular subscriptions, Internet usage, fixed broadband access, and financial inclusion—were analyzed alongside environmental compliance and investment in sustainable mining technologies. Using the Autoregressive Distributed Lag (ARDL) model and Frequency Domain Causality (FDC) analysis, the results show that greater FinTech adoption significantly reduces mineral depletion rates, indicating improved sustainability. Internet and broadband access exhibit strong long-term impacts, while mobile connectivity and credit access show notable short- and medium-term effects. Investment in sustainable mining technologies further enhances these outcomes. Our findings suggest that FinTech serves as a multidimensional enabler of sustainability through digital inclusion, transparency, and access to green financing. This study provides empirical evidence to guide policymakers in integrating digital financial infrastructure into strategies for sustainable mineral resource governance. Full article

Tropical pasture degradation represents a major challenge for global food security and environmental conservation, particularly in Brazil, where up to 60% of pastures are degraded. This study evaluates the economic viability of recovery of degraded pastures using an integrated crop–livestock–forest (ICLF) system. A representative 2-hectare system in the Brazilian Cerrado was analyzed, featuring native Dipteryx alata trees interplanted with pasture for cattle grazing. A deterministic financial model was developed to simulate annual cash flows over a 20-year period under various financing scenarios, including self-financing and multiple subsidized rural credit lines (e.g., Pronaf and Pronamp programs, and ABC Ambiental). The analysis shows that subsidized credit lines with low interest rates and extended grace periods significantly improve project profitability, yielding positive NPVs and robust internal rates of return, while self-financing and high-cost credit options (such as Pronaf Mulher) result in negative NPVs. The dual cash flow strategy—where borrowed funds are immediately invested in secure fixed-income instruments—further enhances economic performance. The findings demonstrate that ICLF-based pasture recovery is economically viable when supported by appropriate financing, offering a scalable model for sustainable agriculture that delivers both economic and environmental benefits. Full article

Amid intensified global climate mitigation efforts, integrating rail freight into carbon emissions trading schemes became critical under China’s “Dual-Carbon” strategy. Despite rail’s significantly lower emissions intensity compared to road transport, existing pricing frameworks inadequately internalized its environmental externalities, which limited its competitive advantage. To address this gap, this study systematically reviewed international and domestic practices of integrating transport into carbon trading systems and developed a novel “four-layer, three-dimensional” emissions trading scheme (ETS) framework tailored specifically for China’s rail freight sector. Employing a Stackelberg bilevel optimization model, this study analyzed how carbon quotas and pricing influenced rail operators’ pricing and investment decisions. The results showed that under optimized quotas and carbon prices, railway enterprises were able to generate surplus carbon credits, creating new revenue streams and enabling freight rate reductions. This “carbon revenue–freight rate feedback loop” not only delivered environmental benefits but also enhanced rail’s economic competitiveness. Overall, this study significantly advances the understanding of carbon-based pricing mechanisms in railway freight, providing robust theoretical insights and actionable policy guidance for achieving sustainable decarbonization in China’s transport sector. Full article

This study explores the nuanced relationship between biodiversity and sovereign credit ratings, underscoring the link between environmental sustainability and economic resilience. As credit rating methodologies increasingly incorporate Environmental, Social, and Governance (ESG) dimensions alongside traditional macroeconomic indicators, biodiversity has emerged as a vital factor influencing sovereign creditworthiness. Drawing on a panel dataset of 62 countries—representing 91% of the global GDP and 81% of the world’s greenhouse gas emissions—from 2001 to 2021, the research utilizes advanced econometric techniques, including the panel Generalized Method of Moments (GMM) and panel quantile regression. The GMM analysis indicates that higher biodiversity levels are generally associated with a decline in credit ratings. However, the quantile regression provides a more differentiated view, revealing that biodiversity’s impact varies by a country’s existing credit standing. Specifically, nations with lower credit ratings tend to benefit from richer biodiversity, while countries with higher credit ratings show a modest negative association—reflecting structural and institutional differences. Robustness checks confirm these results, highlighting the relevance of biodiversity indicators such as the Red List Index in credit evaluations. The findings support the integration of biodiversity into sovereign risk assessments to enhance the alignment of financial systems with long-term ecological and economic sustainability goals. Full article

The cattle sector plays a critical role in Peru’s agricultural economy, yet it faces challenges related to low productivity and environmental degradation. Sustainable alternatives like silvo-pastoral systems (SPSs) offer promising solutions to enhance both economic returns and ecological outcomes in cattle farming. This study examines the economic viability of an intensive SPS (SPSi) compared to traditional monoculture grass systems in San Martín, Peru. The SPSi under study is in the evaluation phase, integrates grasses, legumes, shrubs, and trees, and has the potential to enhance cattle farming profitability while simultaneously offering environmental benefits such as improved soil health and reduced greenhouse gas emissions. Through a discounted cash flow model over an eight-year period, key profitability indicators—Net Present Value (NPV), Internal Rate of Return (IRR), Benefit–Cost Ratio (BC), and payback period—were estimated for four dual-purpose cattle production scenarios: a traditional system and three SPSi scenarios (pessimistic, moderate, and optimistic). Monte Carlo simulations were conducted to assess risk, ensuring robust results. The results show that the NPV for the traditional system was a modest USD 61, while SPSi scenarios ranged from USD 9564 to USD 20,465. The IRR improved from 8.17% in the traditional system to between 26.63% and 30.33% in SPSi scenarios, with a shorter payback period of 4.5 to 5.8 years, compared to 7.98 years in the traditional system. Additionally, the SPSi demonstrated a 30% increase in milk production and a 50% to 250% rise in stocking rates per hectare. The study recommends, subject to pending validations through field trials, promoting SPSi adoption through improved access to credit, technical assistance, and policy frameworks that compensate farmers for ecosystem services. Policymakers should also implement monitoring mechanisms to mitigate unintended consequences, such as deforestation, ensuring that SPSi expansion aligns with sustainable land management practices. Overall, the SPSi presents a viable solution for achieving economic resilience and environmental sustainability in Peru’s cattle sector. Full article

Background: This study applied levelized cost of hydrogen (LCOH) and environmental cost accounting techniques to evaluate the feasibility of producing green hydrogen (GH₂) via alkaline electrolysis for use in a bus fleet in Fortaleza, Brazil. Methods: A GH₂ plant with a 3 MW wind tower was considered in this financial project. A sensitivity analysis was conducted to assess the economic viability of the project, considering the influence of production volume, the number of electrolysis kits, financing time, and other kay economic indices. Revenue was derived from the sale of by-products, including green hospital oxygen (GHO₂) and excess wind energy. A life cycle assessment (LCA) was performed to quantify material and emission flows throughout the H₂ production chain. A zero-net hydrogen price scenario was tested to evaluate the feasibility of its use in urban transportation. Results: The production of GH₂ in Brazil using alkaline electrolysis powered by wind energy proved to be economically viable for fueling a hydrogen-powered bus fleet. For production volumes ranging from 8.89 to 88.9 kg H₂/h, the sensitivity analysis revealed high economic performance, achieving a net present value (NPV) between USD 19.4 million and USD 21.8 million, a payback period of 1–4 years, an internal rate of return (IRR) of 24–90%, and a return on investment (ROI) of 300–1400%. The LCOH decreased with increased production, ranging from 56 to 25 USD/MWh. Over the project timeline, GH₂ production and use in the bus fleet reduced CO₂ emissions by 53,000–287,000 t CO₂ eq. The fuel cell bus fleet project demonstrated viability through fuel cost savings and revenue from carbon credit sales, highlighting the economic, social, and environmental sustainability of GH₂ use in urban transportation in Brazil. Full article

The Haor region in northeastern Bangladesh, characterized by seasonal wetlands and a heavy reliance on fisheries, faces significant challenges due to climate change. Erratic rainfall, prolonged flooding, and ecosystem degradation threaten traditional fishing practices and community livelihoods. This study investigates the potential of climate-resilient cage aquaculture as a sustainable, alternative income-generating solution for vulnerable Haor communities. An 80-day experiment was conducted in five villages of Sunamganj district, Sylhet division, Bangladesh, where tilapia (Oreochromis niloticus) fry were reared in climate-resilient floating cages at five stocking densities: T1 (800 fry/m³), T2 (900 fry/m³), T3 (1000 fry/m³), T4 (1100 fry/m³), and T5 (1200 fry/m³). Key environmental parameters, including temperature (28.12–29.55 °C), dissolved oxygen (4.61–6.55 mg/L), pH (7.53–7.72), and ammonia (0.05–0.76 mg/L), remained within optimal ranges across treatments. Growth performance, survival rate, and economic feasibility were evaluated with T5 yielding the highest gross production (51.77 ± 4.80 kg/m³) and net benefits (7500 ± 500 BDT/m³), achieving a benefit–cost ratio of 1:2.86. The survey findings revealed that a majority of fishers (82%) identified tilapia cage culture as a promising alternative livelihood, yet financial constraints and limited access to credit hinder adoption. Despite these socioeconomic challenges, our findings suggest that tilapia cage culture offers a viable income-generating solution, particularly during flood periods. The study highlights floating cage aquaculture as a climate-resilient strategy to mitigate climate impacts, enhance food security, and improve economic resilience in flood-prone and ecologically sensitive regions. Full article

This study integrates the Sustainable Livelihoods Framework (SLF) and the Sustainability Assessment of Food and Agriculture Systems (SAFA) to evaluate the sustainability and livelihood dynamics of the Amazonian Chakra system, recently designated as a Globally Important Agricultural Heritage System (GIAHS) by the FAO. Using data from 330 producers across three associations (Kallari, Wiñak, and Tsatsayaku) in the Ecuadorian Amazon, the study employed discriminant analysis to assess governance, environmental integrity, economic resilience, social well-being, and livelihood capitals. Results revealed significant disparities across associations in key sustainability dimensions. Kallari and Wiñak demonstrated stronger governance, environmental integrity and economic resilience, linked to mature organizational structures and effective governance mechanisms. In contrast, Tsatsayaku excelled in demographic diversity and larger landholdings but lagged in governance and environmental practices. Extreme poverty affected 82% of households, with Tsatsayaku having the lowest rate (69%) compared to Wiñak (89%) and Kallari (87%). Chakra income contributed significantly to livelihoods, accounting for 44% of total income in Kallari, 37% in Wiñak, but only 16% in Tsatsayaku, whose producers relied more on off-farm activities and livestock. The integration of SLF and SAFA methodologies offered a nuanced understanding of sustainability, highlighting the importance of governance, financial strategies, and environmental conservation in promoting resilience. Policies should prioritize participatory governance, market transparency, and credit access to address disparities and strengthen sustainability. These findings underscore the critical role of the Amazonian Chakra as a sustainable agroforestry system, providing economic and cultural benefits, while emphasizing the need for tailored interventions to enhance the sustainability of Amazonian producer associations. Full article

With the increasing global concern for environmental protection and sustainable development, the low-carbon transformation of the manufacturing industries has become a top priority. The rapid development of green digital technology (GDT) provides new opportunities and a strong impetus for the low-carbon transformation of the manufacturing industries. Meanwhile, green credit, as an important financial tool to promote the development of the green economy, plays a key role in guiding resource allocation. In order to respond to the urgent global demand for environmental protection and sustainable development and to accelerate the pace of the low-carbon transformation of manufacturing industries, based on evolutionary game theory, this paper constructs a three-party evolutionary game model of commercial banks (CBs), digital businesses (DBs) and manufacturing industries (MIs); further subdivides the MIs into two categories of non-polluting MIs and polluting Mis; and performs a numerical simulation using Python to analyze the influence of the main parameters on the evolutionary stabilization strategy. The results of the study are as follows: (1) Changes in the interest rate of the green credit have a greater impact on the strategic evolution process of polluting MIs than non-polluting MIs. The green credit model contributes to the introduction of GDT for the low-carbon transformation by non-polluting MIs, although for polluting MIs, the model hinders, to some extent, their introduction of GDT for the low-carbon transformation. (2) Polluting MIs are more sensitive to the investment cost of introducing GDT than non-polluting MIs. When the support benefits of GDT are too low, polluting MIs are more inclined to choose independent innovation to realize the low-carbon transition. (3) Government subsidies to DBs in terms of GDT innovation are crucial to the DBs’ strategy choices. High subsidies can significantly accelerate the cooperation process between DBs and Mis. The findings reveal the challenges and opportunities faced by both non-polluting and polluting manufacturing industries in the process of the low-carbon transformation. In addition, the study provides theoretical references for the behavioral decisions of commercial banks, digital businesses, and manufacturing industries, and proposes corresponding management suggestions to promote the sustainable development of the manufacturing industries. Full article

There is a growing awareness of the need to integrate non-financial information arising from environmental, social, and governance (ESG) factors into corporate strategies, processes, and credit risk assessment to generate long-term value. Our paper aims to develop, through a Data Envelopment Analysis (DEA)-based approach, a credit risk assessment tool that could be used by banks in constructing an efficient and sustainable investment portfolio, able to maximize banks’ probability contemporaneously minimizing corporate inefficiency. This study was carried out on a sample of publicly traded energy companies in Europe, with the energy sector being highly environmentally sensitive. Our portfolio selection model proves to be a valuable tool for building an efficient and sustainable investment portfolio because it leads, within a budget constraint, to selecting both the most efficient companies in absolute terms and those for which ESG scores significantly improve corporate financial efficiency. Additionally, our results show that ESG ratings at high or low levels do not affect overall company efficiency, but at a middle level, they increase it. Findings contribute (and provide suggestions) to policymakers, credit risk managers, and academics. Full article

This study investigates the effectiveness of combining magnets with parabolic and truncated fins in enhancing the distillation process of solar stills. The integration of magnets accelerated evaporation rates, while the fins increased the heat absorption area, resulting in improved output, vis-à-vis traditional solar stills. A comparative assessment revealed that the parabolic fin solar still (PFS) with magnets outperformed the truncated fin solar still (TCFS), producing 20%, 15%, and 16% more distillate at three different depths (1, 2, and 3 cm). The superior performance of the PFS is attributed to the magnetism of the water and the fins’ more extensive surface area for heat absorption. Efficiency measurements at a water depth of 1 cm showed that the PFS achieved the maximum energy and exergy efficiencies at 30.49% and 8.85%, respectively, compared with TCFS’s 25.23% and 6.22%. Economically, the PFS setup proved more feasible, with a 20.9% lower cost per liter of distilled water than TCFS. Additionally, the environmental impact assessment indicated a significant reduction in CO₂ emissions, potentially generating revenues of approximately USD 1242.32 through carbon credits. These results reflect a considerable margin to enhance the efficiency of solar desalination through well-planned adjustments, which bodes well for the future of optimized solar distillation systems from an economic and environmental perspective. Full article

In response to climate change, the proportion of renewable energy penetration is increasing daily. However, there is a lack of flexible energy transfer mechanisms. The optimization effect of low-carbon economic dispatch in a single park is limited. In the context of the sharing economy, this study proposes a research method for multi-park electricity sharing and benefit allocation based on carbon credit trading. Firstly, a framework for multi-park system operation is constructed, and an energy hub model is established for the electrical, cooling, and heating interconnections with various energy conversions. Secondly, a park carbon emission reduction trading model is established based on the carbon credit mechanism, further forming an optimal economic and environmental dispatch strategy for multi-park electricity sharing. Matlab+Gurobi is used for solving. Then, based on asymmetric Nash bargaining, the comprehensive contribution rate of each park is calculated by considering their energy contribution and carbon emission reduction contribution, thereby achieving a fair distribution of cooperation benefits among multiple parks. The results show that the proposed method can effectively reduce the overall operational cost of multiple parks and decrease carbon emissions, and the benefit allocation strategy used is fair and reasonable, effectively motivating the construction of new energy in parks and encouraging active participation in cooperative operations by all parks. Full article