Search Results (127)

This study aims to develop an optimal underwriting strategy for affordable (H1 and M1) and premium (L1 and M2) electric vehicles (EVs), balancing financial risk and sustainability commitments. The research is motivated by regulatory pressures, risk management needs, and sustainability goals, necessitating an adaptation of traditional underwriting models. The study employs a modified Delphi method with industry experts to identify key risk factors, including accident risk, repair costs, battery safety, driver behavior, and PCAF carbon impact. A sensitivity analysis was conducted to examine premium adjustments under different risk scenarios, categorizing EVs into four risk segments: Low-Risk, Low-Carbon (L1); Medium-Risk, Low-Carbon (M1); Medium-Risk, High-Carbon (M2); and High-Risk, High-Carbon (H1). Findings indicate that premium EVs (L1 and M2) exhibit lower volatility in underwriting costs, benefiting from advanced safety features, lower accident rates, and reduced carbon attribution penalties. Conversely, budget EVs (H1 and M1) experience higher premium fluctuations due to greater accident risks, costly repairs, and higher carbon costs under PCAF implementation. The worst-case scenario showed a 14.5% premium increase, while the best-case scenario led to a 10.5% premium reduction. The study recommends prioritizing premium EVs for insurance coverage due to their lower underwriting risks and carbon efficiency. For budget EVs, insurers should implement selective underwriting based on safety features, driver risk profiling, and energy efficiency. Additionally, incentive-based pricing such as telematics discounts, green repair incentives, and low-carbon charging rewards can mitigate financial risks and align with net-zero insurance commitments. This research provides a structured framework for insurers to optimize EV underwriting while ensuring long-term profitability and regulatory compliance. Full article

Green and low-carbon development of supply chains represents a practical approach to addressing climate change and enhancing corporate competitiveness. From the perspective of the relationship between policy subsidies and channel power structures, this paper constructs Stackelberg game models under four different scenarios to conduct theoretical analyses of the optimal strategies, supported by numerical simulations. The research findings reveal the following. (1) Under the product subsidy policy, the enhancement of consumers’ green preference will lead to a green premium, and in the case of the technology subsidy policy, consumers’ green preference will inhibit wholesale prices and retail prices. However, there is a threshold in the manufacturer-led case, and a “green premium” is also claimed when this threshold is exceeded. (2) The effects of the product subsidy policy and the green technology level subsidy policy on prices are opposite, where an increase in the product subsidy will increase the wholesale price and retail price, while an increase in the green technology level subsidy will reduce the wholesale price. The technology subsidy policy has a more significant effect on the promotion of green technology. (3) The power of supply chain channels will directly affect corporate profits, and the leader of the supply chain often has higher profits. Compared with product subsidies, technology subsidies can inhibit the channel power of retailers. Full article

The literature shows greenspaces generally increase nearby property values, but in Riyadh, this relationship is complex and understudied. Existing studies lack sector-specific analyses across Riyadh’s neighborhoods, overlook the impact of the Green Riyadh Project launched in 2019, and fail to address negative externalities associated with large greenspaces in an arid, privacy-conscious context. Such paradoxical impact of larger greenspaces bordering major roads at the neighborhood edge, unexpectedly reduce property values by 2–4% due to petty crime, congestion, poor upkeep, and privacy concerns, contrasting with 10–18% premiums for properties abutting greenspaces with restricted access in affluent neighborhoods. Global studies typically report positive greenspace effects, so negative impacts in specific Riyadh sectors are surprising. This highlights the city’s unique arid, cultural, and urban dynamics in addressing this research gap. The research uses purposive quota sampling of Riyadh neighborhood greenspaces and a mixed-methods approach of quantitative hedonic pricing analysis combined with qualitative semi-structured interviews with real estate agents. Findings underscore the need for tailored urban planning (e.g., mitigating petty crime, overcrowding, poor maintenance). This suggests the importance of integrating green infrastructure into urban planning, not only for its ecological and social benefits but also for its tangible positive impact on property values. Poor greenspace upkeep and safety concerns can reduce price premiums of abutting properties. Full article

This study investigates factors influencing net-zero building (NZB) adoption in the South African commercial property sector through a qualitative analysis of four case studies, with a net-zero carbon building focus. Findings indicate that while green building certifications have exceeded 1000 since 2009, NZB adoption remains limited (64 certifications as of 2024). Key barriers include retrofit cost premiums (20–30%), technical capacity gaps, and insufficient policy frameworks. Primary drivers comprise demonstrated energy efficiency gains (15–25% reductions), tenant demand for sustainable properties, and institutional support through certification programs. This research contributes an empirical model identifying transitional “Amber Zone” factors, including energy security concerns and renewable energy returns on investment, which mediate between barriers and drivers. Case evidence shows NZB implementation can be achieved within existing budgets through integrated design approaches. These findings provide a structured framework for understanding NZB adoption dynamics in emerging markets facing similar energy and sustainability challenges. Full article

This research examines the challenges of issuing green bonds due to a lack of established benchmarks. We compare regional differences between the U.S. and the E.U., hypothesizing that issuers of green bonds stand to benefit from comparing them to conventional (black) bonds. As most investors prioritize net positive returns as opposed to intangible sustainability metrics, the existence of a “green premium”, defined as the opportunity to price green bonds differently, remains to be proven. To this end, we employ a time-varying parameter vector autoregression (TVP-VAR), first deriving dynamic variance–covariance matrices and then conducting variance decomposition analysis to gauge connectedness and spillover effects of various bond benchmarks. Implementing multivariate portfolio construction strategies, we investigate the hedging capabilities of green and black bonds. Our findings show that both green and black bonds contribute to portfolio diversification as a risk management strategy. The paper highlights the role played by green bonds in promoting financial stability. Full article

The evaluation of region-specific aroma characteristics in green tea remains critical for quality control. This study systematically analyzed eight Tongcheng Xiaohua tea samples (standard and premium batches) originating from four distinct regions using sensory analysis, electronic nose (E-nose), headspace solid-phase microextraction coupled with gas chromatography–mass spectrometry (HS-SPME-GC-MS), and chemometrics. The E-nose results demonstrated that the volatile characteristics of Tongcheng Xiaohua tea exhibit distinct geographical signatures, confirming the regional specificity of its aroma. HS-SPME-GC-MS identified 66 volatile metabolites across samples, with 18 key odorants (OAV > 1) including linalool, geraniol, (Z)-jasmone, and β-ionone driving aroma profiles. The partial least squares–discriminant analysis (PLS-DA) model, combined with variable importance in projection (VIP) scores and OAV, identified seven compounds that effectively differentiate the origins, among which α-pinene and β-cyclocitral emerged as novel markers imparting unique regional characteristics. Further comparative analysis between standard and premium grades revealed 2-methyl butanal, 3-methyl butanal, and dimethyl sulfide as main differential metabolites. Notably, the influence of geographical origin on metabolite profiles was found to be more significant than batch effects. These findings establish a robust analytical framework for origin traceability, quality standardization, and flavor optimization in tea production, providing valuable insights for the tea industry. Full article

With expanding urban sprawl and the characterization of Australian housing as little more than glorified tents, there is a clear need for expert-informed tools—such as the Green Building Council of Australia’s Communities ratings. But what lessons can be learned from the ratings of recent housing developments? A review of existing cases and supporting materials found low rates of engagement for some criteria and few projects meeting the criteria, with the most direct links being with sustainability. The patterns of scores obtained and criteria addressed appear to reflect many developers placing emphasis on compliance with the minimum standards rather than best practice in sustainability. Notable areas with poor performance include greenhouse gas mitigation strategies, the use of environmentally friendly materials and the sustainability of buildings. Strong, comprehensive education campaigns regarding up-front costs relative to long-term benefits, perhaps more heavily focused on end consumers, may help address some of the hesitancy developers have in engaging with key criteria. However, current rating frameworks fail to account for the pressing need for infill development to address the ‘missing middle’. Perhaps an evolution is needed in sustainability-oriented ratings, such as a mandatory sustainability assessment, that would crystallize the green premium of sustainable housing, thereby harnessing the demand from consumers’ for better quality. Full article

As global climate change intensifies and carbon emission policies become increasingly stringent, carbon risk has emerged as a crucial factor influencing corporate operations and financial markets. Based on data from A-share listed companies in China from 2009 to 2022, this paper empirically examines the pricing mechanism of carbon risk in the Chinese capital market and explores how different corporate signaling behaviors affect the carbon risk premium. The findings reveal the following: (1) Carbon risk exhibits a significant positive premium (annualized at about 1.33% per standard deviation), which remains robust over longer time windows and after replacing the measurement variables. (2) Heterogeneity analysis shows that the carbon risk premium is not significant in high-energy-consuming industries or before the signing of the Paris Agreement, possibly due to changes in investor expectations and increased green awareness. Additionally, a significant difference in the carbon risk premium exists between brown and green stocks, reflecting a “labeling effect” of green attributes. (3) Issuing green bonds, as an active corporate signaling behavior, effectively mitigates the carbon risk premium, indicating that market investors highly recognize and favor firms that actively convey green signals. (4) A “greenwashing” indicator constructed from textual analysis of environmental information disclosure suggests that greenwashing leads to a mispricing of the carbon risk premium. Companies that issue false green signals—publicly committing to environmental protection but failing to implement corresponding emission reduction measures—may mislead investors and create adverse selection problems. Finally, this paper provides recommendations for corporate carbon risk management and policy formulation, offering insights for both research and practice in the field. Full article

During the harvesting and preparation of tea, it is common for tea to become mixed with some impurities. Eliminating these impurities is essential to improve the quality of famous green tea. At present, this sorting procedure heavily depends on manual efforts, which include high labor intensity, low sorting efficiency, and high sorting costs. In addition, the hardware performance is poor in actual production, and the model is not suitable for deployment. To solve this technical problem in the industry, this article proposes a lightweight algorithm for detecting and sorting impurities in premium green tea in order to improve sorting efficiency and reduce labor intensity. A custom dataset containing four categories of impurities was created. This dataset was employed to evaluate various YOLOv8 models, ultimately leading to the selection of YOLOv8n as the base model. Initially, four loss functions were compared in the experiment, and Focaler_mpdiou was chosen as the final loss function. Subsequently, this loss function was applied to other YOLOv8 models, leading to the selection of YOLOv8m-Focaler_mpdiou as the teacher model. The model was then pruned to achieve a lightweight model at the expense of detection accuracy. Finally, knowledge distillation was applied to enhance its detection performance. Compared to the base model, it showed advancements in P, R, mAP, and FPS by margins of 0.0051, 0.0120, and 0.0094 and an increase of 72.2 FPS, respectively. Simultaneously, it achieved a reduction in computational complexity with GFLOPs decreasing by 2.3 and parameters shrinking by 860350 B. Afterwards, we further demonstrated the model’s generalization ability in black tea samples. This research contributes to the technological foundation for sophisticated impurity classification in tea. Full article

This study empirically investigates the impacts of the Russia–Ukraine war on the performance of brown and green stocks in Europe. Analyzing stocks listed on exchanges in 25 European countries, we find that, prior to this war, stocks of more energy-dependent firms (brown stocks) yielded higher returns compared to those of less energy-dependent firms (green stocks). However, after the unexpected Russian invasion, brown stocks underperformed relative to green stocks. As the conflict reached a stalemate and energy supplies were restored, brown stocks regained their advantage over green stocks. Additionally, brown stocks exhibited greater volatility following the invasion. Utilizing various factor models, we identify a pronounced negative energy risk premium during the initial Russia–Ukraine war outbreak period. This study highlights the dynamic stock market responses to energy supply and regulatory changes in Europe, reflecting the market’s evolving perception of energy supply risks and regulatory risks linked to the transition towards a net-zero economy. Full article

Sensory analysis is a fundamental tool in evaluating extra virgin olive oil (EVOO) quality, playing an essential role in both consumer markets and international competitions that recognize and promote high-quality olive oils. Among the key attributes assessed, the fruitiness descriptor—subcategorized as green or ripe—is particularly significant, especially considering that higher green fruitiness is often associated with greater prestige. However, a clear methodological approach to distinguish between green fruitiness and ripe fruitiness perceptions, particularly in their overlapping zone, is still lacking. This study aims to establish precise criteria for defining these boundaries by analyzing monovarietal EVOOs produced from nine olive varieties at three maturity stages over two consecutive harvest seasons (2021/2022 and 2022/2023). Sensory assessments were conducted by the Official Tasting Panel of Virgin Olive Oils of Catalunya, ensuring representativeness across the different fruitiness perceptions. Volatile compounds of the samples were extracted using headspace solid-phase microextraction (HS/SPME) and separated and identified via gas chromatography–mass spectrometry (GC/MS). Multivariate analysis revealed three distinct volatile profiles corresponding to different sensory perceptions. These findings suggest that incorporating an intermediate sensory attribute between green fruitiness and ripe fruitiness could improve classification accuracy in both competitions and premium markets, enhancing the appreciation and valuation of high-quality EVOOs. Full article

In recent years, global climate and environmental issues have become prominent, making green housing a major focus. However, during the development of green housing, there is a tendency to prioritize design while neglecting the operation. Meanwhile, house owners’ green rights and interests during the operation stage are not well protected. In response, some countries have promoted green housing insurance. However, this type of insurance remains immature because of insufficient public awareness, a lack of supporting policies, and limited practical application. These challenges result in low acceptance among house owners, hindering the development of green insurance and green housing sector. To address this issue, this study applies the push–pull theory to establish a driver system for house owners’ acceptance of green housing, considering internal push and external pull drivers. Structural equation modeling (SEM) is then used to analyze the mechanisms that drive house owners’ acceptance. The key findings are as follows: (1) drivers in the pull dimension have a stronger impact on acceptance than drivers in the push dimension; and (2) premium subsidies and economic compensation play a crucial role in driving house owners to accept green housing insurance. This study identifies the key drivers and pathways that influence the acceptance of green housing insurance, providing valuable insights for increasing public recognition and acceptance. The findings can contribute to the development of the green housing industry. Full article

One of the most significant recent developments in the debt financing sector pertains to new products and standards applicable to sustainability-related issues. Therefore, research on this has increased substantially. One of the most recent such developments is that of sustainability-linked bonds (SLBs). In 2023, global sustainable bond issuance experienced an increase of three percent, nearly reaching USD 1 trillion with significant shifts observed in categories, including green-, social-, sustainability-, and sustainability-linked bonds (GSSSBs). This paper presents one of the most extensive literature reviews on SLBs research, examining trends, research evolution, thematic landscape, and underexplored topics by employing bibliometric and content analysis approaches. It identifies future research avenues and trends, including supporting issuers in transitioning towards net-zero emissions or broader objectives, such as implementing sustainability targets to fight climate change, the premium associated with bond pricing, the potential for greenwashing, and the blockchain technology for issuance and target’s monitoring transparency. In addition, this paper discusses the new trend of thematic bonds, such as those addressing gender characteristics, as innovative strategies to promote societal equity. The systematic literature review also explores the significance of SLBs as public instruments, like sovereign bonds or private instruments, while identifying research areas, including linking SLBs with the evolution of management theory. Full article

The transition to energy-efficient buildings is a priority of the European EPBD (Energy Performance Building Directive) and requires deep retrofits to reduce consumption and emissions. However, their financial viability remains underexplored. This research assesses the financial feasibility of deep retrofit interventions through innovative business models, focusing on the Managed Energy Services Agreement (MESA), which is considered the most effective for residential buildings. Additionally, we integrate off-site production from the Energiesprong model, which optimizes costs and time through long-term contracts and industrialized retrofit technologies. The analysis targets two investment profiles—owner/tenant and developer/entrepreneur—in Italian urban contexts with different market dynamics. A static analysis evaluates retrofits based on existing costs and technologies, while a dynamic analysis considers future profitability improvements because of cost reductions enabled by off-site production. The results indicate that, under current conditions, residential retrofitting is not financially sustainable without public subsidies. However, cost reductions driven by off-site technologies improve profitability, making large-scale retrofits feasible. Moreover, real estate market characteristics affect financial sustainability: in smaller cities, deeper cost reductions are necessary for retrofit interventions to become viable. Full article

Green technological innovation is an essential pathway for transforming extensive production methods characterized by “high energy and high emissions”, achieving corporate green transformation, and ascending the value chain. Adhering to the scientific principles of energy conservation, emission reduction, and low-carbon development, this study, set against the backdrop of carbon peak, constructs a green technological innovation ecosystem comprising government, enterprises, and consumers. It analyzes the evolutionary processes of each stakeholder and the system under different scenarios, further simulating the impact of various factors on system equilibrium through numerical simulations. The research reveals that proactive government regulation can guide enterprises toward green technological innovation and the development of low-carbon production; an increase in consumers’ green preferences helps to expand the green consumer market and stimulates enterprises’ willingness to innovate greenly; and the initial strong willingness of each stakeholder significantly influences the system’s evolutionary path. Based on evolutionary game theory, this paper enriches the theory of green technological innovation ecosystems and provides references for overcoming barriers such as the difficulty in expanding the green consumer market and the premium pricing of green products during the green consumption process. Full article