Search Results (2,580)

Decarbonization of the Greek economy requires significant investments in clean technologies. This will boost demand for goods and services and will create multiplier effects on output value added and employment, though reliance on imported technologies might increase the trade deficit. This study employs input–output analysis to estimate the direct, indirect, and multiplier effects of green transition investments on Greek output, value added, employment, and imports across five-year intervals from 2025 to 2050. Two scenarios are considered: the former is based on the National Energy and Climate Plan (NECP), driven by a large-scale exploitation of RES and technologies promoting electrification of final demand, while the latter (developed in the context of the CLEVER project) prioritizes energy sufficiency and efficiency interventions to reduce final energy demand. In the NECP scenario, GDP increases by 3–10% (relative to 2023), and employment increases by 4–11%. The CLEVER scenario yields smaller direct effects—owing to lower investment levels—but larger induced impacts, since energy savings boost household disposable income. The consideration of three sub-scenarios adopting different levels of import-substitution rates in key manufacturing sectors exhibits pronounced divergence, indicating that targeted industrial policies can significantly amplify the domestic economic benefits of the green transition. Full article

A just and sustainable energy transition in historically coal-dependent regions like Kentucky requires more than the adoption of new technologies and market-based solutions. This study uses a stated preferences approach to evaluate public support for various attributes of energy transition programs, revealing broad backing for moving away from coal, as indicated by a negative willingness to pay (WTP) for the status quo (–USD 4.63). Key findings show strong bipartisan support for solar energy, with Democrats showing the highest WTP at USD 8.29, followed closely by Independents/Others at USD 8.22, and Republicans at USD 8.08. Wind energy also garnered support, particularly among Republicans (USD 4.04), who may view it as more industry-compatible and less ideologically polarizing. Job creation was a dominant priority across political affiliations, especially for Independents (USD 9.07), indicating a preference for tangible, near-term economic benefits. Similarly, preserving cultural values tied to coal received support among Independents/Others (USD 4.98), emphasizing the importance of place-based identity in shaping preferences. In contrast, social support programs (e.g., job retraining) and certain post-mining land uses (e.g., recreation and conservation) were less favored, possibly due to their abstract nature, delayed benefits, and political framing. Findings from Kentucky offer insights for other coal-reliant states like Wyoming, West Virginia, Pennsylvania, Indiana, and Illinois. Ultimately, equitable transitions must integrate local voices, address cultural and economic realities, and ensure community-driven planning and investment. Full article

Ecosystem restoration represents a promising solution for enhancing ecosystem services and environmental sustainability. However, border regions—characterized by ecological fragility and geopolitical complexity—remain underrepresented in ecosystem service and restoration research. To fill this gap, we coupled spatially explicit models (e.g., InVEST and RUSLE) with scenario analysis to quantify the ecosystem service potential that could be achieved in China’s Tibetan borderlands under two interacting agendas: ecological restoration and border-strengthening policies. Restoration feasibility was evaluated through combining local biophysical constraints, economic viability (via restoration-induced carbon gains vs. opportunity costs), operational practicality, and simulated infrastructure expansion. The results showed that per-unit-area ecosystem services in border counties (particularly Medog, Cona, and Zayu) exceed that of interior Tibet by a factor of two to four. Combining these various constraints, approximately 4–17% of the border zone remains cost-effective for grassland or forest restoration. Under low carbon pricing (US$10 t⁻¹ CO₂), the carbon revenue generated through restoration is insufficient to offset the opportunity cost of agricultural production, constituting a major constraint. Habitat quality, soil conservation, and carbon sequestration increase modestly when induced by restoration, but a pronounced carbon–water trade-off emerges. Planned infrastructure reduces restoration benefits only slightly, whereas raising the carbon price to about US$50 t⁻¹ CO₂ substantially expands such benefits. These findings highlight both the opportunities and limits of ecosystem restoration in border regions and point to carbon pricing as the key policy lever for unlocking cost-effective restoration. Full article

Sustainable investments in construction are essential for the development of communities and for reducing environmental impacts. This study analyzes two scenarios: rehabilitation of an existing building and construction of a new NZEB-compliant building, based on a life cycle cost–benefit analysis. The results show that both scenarios generate negative Net Present Values (NPVs) due to the social nature of the project, but the new NZEB building presents superior performance (NPV: USD –2.61 million vs. USD –3.05 million for rehabilitation) and lower operational costs (USD 1.49 million vs. USD 1.92 million over 30 years). Key financial indicators (IRR, CBR), sensitivity analysis, and discount rate variation support the conclusion that the NZEB scenario ensures greater economic resilience. This study highlights the relevance of extended LCCBA in guiding sustainable investment decisions in social infrastructure. Full article

This paper examines the effect of digital innovation on cost stickiness in manufacturing firms, focusing on the underlying mechanisms and contextual factors. Using data from Chinese A-share listed manufacturing firms from 2012 to 2023, we find that, first, for each one-unit increase in the level of digital technology, the cost stickiness index of enterprises decreases by an average of 0.4315 units, primarily through digital process innovation and digital business model innovation, whereas digital product innovation does not exhibit a statistically significant impact. Second, manufacturing servitization and the optimization of human capital structure are identified as key mediating mechanisms. Digital innovation promotes servitization by transitioning firms from product-centric to service-oriented business models, thereby reducing fixed costs and improving resource flexibility. It also optimizes human capital by increasing the proportion of high-skilled employees and reducing labor adjustment costs. Third, the effect of digital innovation on cost stickiness is found to be heterogeneous. Firms with high financing constraints benefit more from the cost-reducing effects of digital innovation due to improved resource allocation efficiency. Additionally, mid-tenure executives are more effective in leveraging digital innovation to mitigate cost stickiness, as they balance short-term performance pressures with long-term strategic investments. These findings contribute to the understanding of how digital transformation reshapes cost behavior in manufacturing and provide insights for policymakers and firms seeking to achieve sustainable development through digital innovation. Full article

Using waste biomass as a raw material for the combined production of electricity and heat offers corresponding energy, economic, environmental and resource efficiency benefits. The study examines both the performance of a system for combined energy production based on the Organic Rankine Cycle (ORC) utilizing wood biomass and the market interest in its deployment within Bulgaria. Its objective is to propose a technically and economically viable solution for the recovery of waste biomass through the combined production of electricity and heat while simultaneously assessing the readiness of industrial and municipal sectors to adopt such systems. The cogeneration plant incorporates an ORC module enhanced with three additional economizers that capture residual heat from flue gases. Operating on 2 t/h of biomass, the system delivers 1156 kW of electric power and 3660 kW of thermal energy, recovering an additional 2664 kW of heat. The overall energy efficiency reaches 85%, with projected annual revenues exceeding EUR 600,000 and a reduction in carbon dioxide emissions of over 5800 t/yr. These indicators can be achieved through optimal installation and operation. When operating at a reduced load, however, the specific fuel consumption increases and the overall efficiency of the installation decreases. The marketing survey results indicate that 75% of respondents express interest in adopting such technologies, contingent upon the availability of financial incentives. The strongest demand is observed for systems with capacities up to 1000 kW. However, significant barriers remain, including high initial investment costs and uneven access to raw materials. The findings confirm that the developed system offers a technologically robust, environmentally efficient and market-relevant solution, aligned with the goals of energy independence, sustainability and the transition to a low-carbon economy. Full article

The spatial variation of forest ecosystem services at regional scales remains poorly understood, and few studies have explicitly analyzed how ecosystem services are distributed across different forest management types. This study assessed the spatial overlap between forest management types and ecosystem service hotspots in the Southeastern United States (SEUS) and the Pacific Northwest (PNW) forests. We used the InVEST suite of tools and GIS to quantify carbon storage and water yield. Carbon storage was estimated, stratified by forest group and age class, and literature-based biomass pool values were applied. Average annual water yield and its temporal changes (2001–2020) were modeled using the annual water yield model, incorporating precipitation, potential evapotranspiration, vegetation type, and soil characteristics. Ecosystem service outputs were classified to identify hotspot zones (top 20%) and to evaluate the synergies and tradeoffs between these services. Hotspots were then overlaid with forest management maps to examine their distribution across management types. We found that only 2% of the SEUS and 11% of the PNW region were simultaneous hotspots for both services. In the SEUS, ecological and preservation forest management types showed higher efficiency in hotspot allocation, while in PNW, production forestry contributed relatively more to hotspot areas. These findings offer valuable insights for decision-makers and forest managers seeking to preserve the multiple benefits that forests provide at regional scales. Full article

The biopharmaceutical industry is undergoing a fundamental transformation from traditional batch manufacturing to continuous manufacturing (CM) for recombinant drugs and biosimilars, driven by regulatory support through the International Council for Harmonization (ICH) Q13 guidance and compelling economic advantages. This comprehensive review examines the technical, economic, and regulatory aspects of implementing continuous manufacturing specifically for recombinant protein production and biosimilar development, synthesizing validated data from peer-reviewed research, regulatory sources, and global implementation case studies. The analysis demonstrates that continuous manufacturing offers substantial benefits, including a reduced equipment footprint of up to 70%, a 3- to 5-fold increase in volumetric productivity, enhanced product quality consistency, and facility cost reductions of 30–50% compared to traditional batch processes. Leading biomanufacturers across North America, Europe, and the Asia–Pacific region are successfully integrating perfusion upstream processes with connected downstream bioprocesses, enabling the fully end-to-end continuous manufacture of biopharmaceuticals with demonstrated commercial viability. The regulatory framework has been comprehensively established through ICH Q13 guidance and region-specific implementations across the FDA, EMA, PMDA, and emerging market authorities. This review provides a critical analysis of advanced technologies, including single-use perfusion bioreactors, continuous chromatography systems, real-time process analytical technology, and Industry 4.0 integration strategies. The economic modeling presents favorable return-on-investment profiles, accompanied by a detailed analysis of global market dynamics, regional implementation patterns, and supply chain integration opportunities. Full article

European pig farmers are challenged by increasingly stringent EU regulations to protect the environment from pollution, to meet animal welfare standards and to make pig farming more sustainable. Economic sustainability is defined as the ability to achieve higher profits by respecting social and natural resources. This study is focused on the analysis of the economic resilience of intensive and extensive farming systems, based on data collected from 56 farms located in Denmark, Poland, Italy and Spain. Productive and economic performances of these farms are analyzed, and economic resilience is assessed through a survey including a selection of indicators, belonging to different themes: [i] resilience of resources, [ii] entrepreneurship, [iii] propensity to extensification. The qualitative data from the questionnaire allow for an exploration of how production systems relate to the three dimensions of resilience. Different levels of resilience were found and discussed for intensive and extensive farms. The findings suggest that intensive farms benefit from high standards and greater bargaining power within the supply chain. Extensive systems can achieve profitability through value-added strategies and generally display good resilience. Policies that support investment and risk reduction are essential for enhancing farm resilience and robustness, while strengthening farmer networks can improve adaptability. Full article

This paper presents a comprehensive analysis comparing the implementation of electric and diesel buses for public transport services in the low-density area of the City of Jastrebarsko in Croatia. It utilizes a multidimensional approach and incorporates direct and indirect costs, such as vehicle acquisition, operation, charging, maintenance, and environmental impact costs during the lifecycle of the buses. The results show that, despite the higher initial investment in electric buses, these vehicles offer savings, especially when coupled with significantly reduced emissions of pollutants, which decreases indirect costs. However, local contexts differ, leading to a need to revise whether or not a municipality can finance the procurement and operations of such a fleet. The paper utilizes a robust methodological framework, integrating a proposal based on real-world data and demand and combining it with predictive analytics to forecast long-term benefits. The findings of the paper support the introduction of buses as a sustainable solution for Jastrebarsko, which provides insights for public transport planners, urban planners, and policymakers, with a discussion about the specific issues regarding the introduction, procurement, and operations of buses of different propulsion in a low-density area. Full article

Biochar, a carbon-rich material derived from biomass, presents a sustainable solution to several pressing challenges in U.S. agriculture, including soil degradation, carbon emissions, and waste management. Despite global advancements, the U.S. biochar market remains underexplored in terms of economic viability, adoption potential, and sector-specific applications. This narrative review synthesizes two decades of literature to examine biochar’s applications, production methods, and market dynamics, with a focus on its economic and environmental role within the United States. The review identifies biochar’s multifunctional benefits: enhancing soil fertility and crop productivity, sequestering carbon, reducing greenhouse gas emissions, and improving water quality. Recent empirical studies also highlight biochar’s economic feasibility across global contexts, with yield increases of up to 294% and net returns exceeding USD 5000 per hectare in optimized systems. Economically, the global biochar market grew from USD 156.4 million in 2021 to USD 610.3 million in 2023, with U.S. production reaching ~50,000 metric tons annually and a market value of USD 203.4 million in 2022. Forecasts project U.S. market growth at a CAGR of 11.3%, reaching USD 478.5 million by 2030. California leads domestic adoption due to favorable policy and biomass availability. However, barriers such as inconsistent quality standards, limited awareness, high costs, and policy gaps constrain growth. This study goes beyond the existing literature by integrating market analysis, SWOT assessment, cost–benefit findings, and production technologies to highlight strategies for scaling biochar adoption. It concludes that with supportive legislation, investment in research, and enhanced supply chain transparency, biochar could become a pivotal tool for sustainable development in the U.S. agricultural and environmental sectors. Full article

This study synthesizes the rapidly expanding evidence on how digital technologies reshape international trade, with a particular focus on small and medium-sized enterprises (SMEs). Guided by two research questions—(RQ1) How do digital tools influence the volume and composition of cross-border trade? and (RQ2) How do these effects vary by countries’ development level and firm size?—we conducted a PRISMA-compliant systematic literature review covering 2010–2024. Searches across eight major databases yielded 1857 records; after duplicate removal, title/abstract screening, full-text assessment, and Mixed Methods Appraisal Tool (MMAT 2018) quality checks, 86 peer-reviewed English-language studies were retained. Findings reveal three dominant technology clusters: (1) e-commerce platforms and cloud services, (2) IoT-enabled supply chain solutions, and (3) emerging AI analytics. E-commerce and cloud adoption consistently raise export intensity—doubling it for digitally mature SMEs—while AI applications are the fastest-growing research strand, particularly in East Asia and Northern Europe. However, benefits are uneven: firms in low-infrastructure settings face higher fixed digital costs, and cybersecurity and regulatory fragmentation remain pervasive obstacles. By integrating trade economics with development and SME internationalization studies, this review offers the first holistic framework that links national digital infrastructure and policy support to firm-level export performance. It shows that the trade-enhancing effects of digitalization are contingent on robust broadband penetration, affordable cloud access, and harmonized data-governance regimes. Policymakers should, therefore, prioritize inclusive digital-readiness programs, while business leaders should invest in complementary capabilities—data analytics, cyber-risk management, and cross-border e-logistics—to fully capture digital trade gains. This balanced perspective advances theory and practice on building resilient, equitable digital trade ecosystems. Full article

The right to development, an inherent human right for all, emphasizes that all individuals and communities have the right to participate in, contribute to, and benefit from development that ensures the full realization of human rights. In Kenya, where a significant portion of the population faces poverty and vulnerability to climate change, access to rights-based needs such as clean water, healthcare, and education still remains a critical challenge. This study explored the implementation of a Human Rights-Based approach to community development through a Public–Private Development Partnership model (PPDP), with a focus on alleviating poverty and improving access to rights-based services at the community level in Narok and Nakuru counties. The research aimed to identify critical success factors for scaling the PPDP model and explore its effects on socio-economic empowerment. The study employed a mixed-methods approach for data collection, using questionnaires to obtain quantitative data, focus group discussions, and key informant interviews with community members, local leaders, and stakeholders to gather qualitative data. We cleaned and analyzed all our data in R (version 4.4.3) and used the chi-square to establish the significance of differences between areas where the PPDP model was implemented and control areas where it was not. Results reveal that communities with the PPDP model experienced statistically significant improvements in employment, income levels, and access to rights-based services compared to control areas. The outcomes underscore the potential of the PPDP model to address inclusive and sustainable development. This study therefore proposes a scalable pathway beginning with access to rights-based needs, followed by improved service delivery, and culminating in economic empowerment. These findings offer valuable insights for governments, development practitioners, investment agencies, and researchers seeking community-driven developments in similar socio-economic contexts across Africa. For the first time, it can be adopted in the design and implementation of development projects in rural and local communities across Africa bringing into focus the need to integrate rights-based needs at the core of the project. Full article

This study evaluates the risk-adjusted performance of Hospitality REITs using multi-factor asset pricing models and downside risk measures with the aim of assessing their diversification potential and crisis sensitivity. Unlike prior studies that examine REITs in aggregate, this study isolates Hospitality REITs to explore their unique cyclical and macroeconomic sensitivities. This study looks at the risk-adjusted performance of Hospitality Real Estate Investment Trusts (REITs) in relation to more general REIT indexes and the S&P 500 Index. The study reveals that monthly returns of Hospitality REITs increasingly move in tandem with the stock markets during financial crises, which reduces their historical function as portfolio diversifiers. Investing in Hospitality REITs exposes one to the hospitality sector; however, these investments carry notable risks and provide little protection, particularly during economic upheavals. Furthermore, the study reveals that Hospitality REITs underperform on a risk-adjusted basis relative to benchmark indexes. The monthly returns of REITs show significant volatility during the post-COVID-19 era, which causes return-to-risk ratios to be below those of benchmark indexes. Estimates from multi-factor models indicate negative alpha values across conditional models, indicating that macroeconomic variables cause unremunerated risks. This industry shows great sensitivity to market beta and size and value determinants. Hospitality REITs’ susceptibility comes from their showing the most possibility for exceptional losses across asset classes under Value at Risk (VaR) and Conditional Value at Risk (CvaR) downside risk assessments. The findings have implications for investors and portfolio managers, suggesting that Hospitality REITs may not offer consistent diversification benefits during downturns but can serve a tactical role in procyclical investment strategies. Full article

This study examines the impact of free trade zone (FTZ) establishment on regional economic resilience (RER) in China, using provincial-level panel data spanning from 2010 to 2022 and a multi-period difference-in-differences (DID) approach. The empirical results indicate that FTZ implementation significantly enhances regional economic resilience by 3.46%, with the development of green finance acting as a key moderating mechanism that amplifies this positive effect. Heterogeneity analysis uncovers notable disparities across policy cohorts and geographical regions: the first wave of FTZs demonstrates the most pronounced resilience-enhancing impact, whereas later cohorts exhibit weaker or even adverse effects. Coastal regions experience substantial benefits from FTZ policies, in contrast to statistically insignificant outcomes observed in inland areas. These findings suggest that strategically expanding the FTZ network, when paired with tailored implementation mechanisms and the integration of green finance, could serve as a powerful policy tool for post-COVID economic recovery. Importantly, by strengthening economic resilience through institutional openness and green investment, this study offers valuable insights into balancing economic growth with environmental sustainability. It provides empirical evidence to support the optimization of FTZ spatial governance and institutional innovation pathways, thereby contributing to the pursuit of sustainable regional development. Full article