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29 pages, 1895 KiB  
Article
How Does Sharing Economy Advance Sustainable Production and Consumption? Evidence from the Policies and Business Practices of Dockless Bike Sharing
by Shouheng Sun, Yiran Wang, Dafei Yang and Qi Wu
Sustainability 2025, 17(15), 7053; https://doi.org/10.3390/su17157053 (registering DOI) - 4 Aug 2025
Abstract
The sharing economy is considered to be a potentially efficacious approach for promoting sustainable production and consumption (SPC). This study utilizes dockless bike sharing (DBS) in Beijing as a case study to examine how sharing economy policies and business practices advance SPC. It [...] Read more.
The sharing economy is considered to be a potentially efficacious approach for promoting sustainable production and consumption (SPC). This study utilizes dockless bike sharing (DBS) in Beijing as a case study to examine how sharing economy policies and business practices advance SPC. It also dynamically quantifies the environmental and economic performance of DBS practices from a life cycle perspective. The findings indicate that effective SPC practices can be achieved through the collaborative efforts of multiple stakeholders, including the government, operators, manufacturers, consumers, recycling agencies, and other business partners, supported by regulatory systems and advanced technologies. The SPC practices markedly improved the sustainability of DBS promotion in Beijing. This is evidenced by the increase in greenhouse gas (GHG) emission reduction benefits, which have risen from approximately 35.81 g CO2-eq to 124.40 g CO2-eq per kilometer of DBS travel. Considering changes in private bicycle ownership, this value could reach approximately 150.60 g CO2-eq. Although the economic performance of DBS operators has also improved, it remains challenging to achieve profitability, even when considering the economic value of the emission reduction benefits. In certain scenarios, DBS can maximize profits by optimizing fleet size and efficiency, without compromising the benefits of emission reductions. The framework of stakeholder interaction proposed in this study and the results of empirical analysis not only assist regulators, businesses, and the public in better understanding and promoting sustainable production and consumption practices in the sharing economy but also provide valuable insights for achieving a win-win situation of platform profitability and environmental benefits in the SPC practice process. Full article
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19 pages, 2280 KiB  
Article
A Swap-Integrated Procurement Model for Supply Chains: Coordinating with Long-Term Wholesale Contracts
by Min-Yeong Ryu and Pyung-Hoi Koo
Mathematics 2025, 13(15), 2495; https://doi.org/10.3390/math13152495 - 3 Aug 2025
Abstract
In today’s volatile supply chain environment, organizations require flexible and collaborative procurement strategies. Swap contracts, originally developed as financial instruments, have recently been adopted to address inventory imbalances—such as the 2021 COVID-19 vaccine swap between South Korea and Israel. Despite its increasing adoption [...] Read more.
In today’s volatile supply chain environment, organizations require flexible and collaborative procurement strategies. Swap contracts, originally developed as financial instruments, have recently been adopted to address inventory imbalances—such as the 2021 COVID-19 vaccine swap between South Korea and Israel. Despite its increasing adoption in the real world, theoretical studies on swap-based procurement remain limited. This study proposes an integrated model that combines buyer-to-buyer swap agreements with long-term wholesale contracts under demand uncertainty. The model quantifies the expected swap quantity between parties and embeds it into the profit function to derive optimal order quantities. Numerical experiments are conducted to compare the performance of the proposed strategy with that of a baseline wholesale contract. Sensitivity analyses are performed on key parameters, including demand asymmetry and swap prices. The numerical analysis indicates that the swap-integrated procurement strategy consistently outperforms procurement based on long-term wholesale contracts. Moreover, the results reveal that under the swap-integrated strategy, the optimal order quantity must be adjusted—either increased or decreased—depending on the demand scale of the counterpart and the specified swap price, deviating from the optimal quantity under traditional long-term contracts. These findings highlight the potential of swap-integrated procurement strategies as practical coordination mechanisms across both private and public sectors, offering strategic value in contexts such as vaccine distribution, fresh produce, and other critical products. Full article
(This article belongs to the Special Issue Theoretical and Applied Mathematics in Supply Chain Management)
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15 pages, 5152 KiB  
Article
Assessment of Emergy, Environmental and Economic Sustainability of the Mango Orchard Production System in Hainan, China
by Yali Lei, Xiaohui Zhou and Hanting Cheng
Sustainability 2025, 17(15), 7030; https://doi.org/10.3390/su17157030 (registering DOI) - 2 Aug 2025
Viewed by 63
Abstract
Mangoes are an important part of Hainan’s tropical characteristic agriculture. In response to the requirements of building an ecological civilization pilot demonstration zone in Hainan, China, green and sustainable development will be the future development trend of the mango planting system. However, the [...] Read more.
Mangoes are an important part of Hainan’s tropical characteristic agriculture. In response to the requirements of building an ecological civilization pilot demonstration zone in Hainan, China, green and sustainable development will be the future development trend of the mango planting system. However, the economic benefits and environmental impact during its planting and management process remain unclear. This paper combines emergy, life cycle assessment (LCA), and economic analysis to compare the system sustainability, environmental impact, and economic benefits of the traditional mango cultivation system (TM) in Dongfang City, Hainan Province, and the early-maturing mango cultivation system (EM) in Sanya City. The emergy evaluation results show that the total emergy input of EM (1.37 × 1016 sej ha−1) was higher than that of TM (1.32 × 1016 sej ha−1). From the perspective of the emergy index, compared with TM, EM exerted less pressure on the local environment and has better stability and sustainability. This was due to the higher input of renewable resources in EM. The LCA results showed that based on mass as the functional unit, the potential environmental impact of the EM is relatively high, and its total environmental impact index was 18.67–33.19% higher than that of the TM. Fertilizer input and On-Farm emissions were the main factors causing environmental consequences. Choosing alternative fertilizers that have a smaller impact on the environment may effectively reduce the environmental impact of the system. The economic analysis results showed that due to the higher selling price of early-maturing mango, the total profit and cost–benefit ratio of the EM have increased by 55.84% and 36.87%, respectively, compared with the TM. These results indicated that EM in Sanya City can enhance environmental sustainability and boost producers’ annual income, but attention should be paid to the negative environmental impact of excessive fertilizer input. These findings offer insights into optimizing agricultural inputs for Hainan mango production to mitigate multiple environmental impacts while enhancing economic benefits, aiming to provide theoretical support for promoting the sustainable development of the Hainan mango industry. Full article
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22 pages, 1620 KiB  
Article
Economic Resilience in Intensive and Extensive Pig Farming Systems
by Lorena Giglio, Tine Rousing, Dagmara Łodyga, Carolina Reyes-Palomo, Santos Sanz-Fernández, Chiara Serena Soffiantini and Paolo Ferrari
Sustainability 2025, 17(15), 7026; https://doi.org/10.3390/su17157026 (registering DOI) - 2 Aug 2025
Viewed by 95
Abstract
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 [...] Read more.
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 article belongs to the Special Issue Advanced Agricultural Economy: Challenges and Opportunities)
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25 pages, 10827 KiB  
Article
Integrated Transcriptomic and Metabolomic Analysis Reveals Nitrogen-Mediated Delay of Premature Leaf Senescence in Red Raspberry Leaves
by Qiang Huo, Feiyang Chang, Peng Jia, Ziqian Fu, Jiaqi Zhao, Yiwen Gao, Haoan Luan, Ying Wang, Qinglong Dong, Guohui Qi and Xuemei Zhang
Plants 2025, 14(15), 2388; https://doi.org/10.3390/plants14152388 - 2 Aug 2025
Viewed by 188
Abstract
The premature senescence of red raspberry leaves severely affects plant growth. In this study, the double-season red raspberry cultivar ‘Polka’ was used, with N150 (0.10 g N·kg−1) selected as the treatment group (T150) and N0 (0 g N·kg−1 [...] Read more.
The premature senescence of red raspberry leaves severely affects plant growth. In this study, the double-season red raspberry cultivar ‘Polka’ was used, with N150 (0.10 g N·kg−1) selected as the treatment group (T150) and N0 (0 g N·kg−1) set as the control (CK). This study systematically investigated the mechanism of premature senescence in red raspberry leaves under different nitrogen application levels by measuring physiological parameters and conducting a combined multi-omics analysis of transcriptomics and metabolomics. Results showed that T150 plants had 8.34 cm greater height and 1.45 cm greater ground diameter than CK. The chlorophyll, carotenoid, soluble protein, and sugar contents in all leaf parts of T150 were significantly higher than those in CK, whereas soluble starch contents were lower. Malondialdehyde (MDA) content and superoxide anion (O2) generation rate in the lower leaves of T150 were significantly lower than those in CK. Superoxide sismutase (SOD) and peroxidase (POD) activities in the middle and lower functional leaves of T150 were higher than in CK, while catalase (CAT) activity was lower. Transcriptomic analysis identified 4350 significantly differentially expressed genes, including 2062 upregulated and 2288 downregulated genes. Metabolomic analysis identified 135 differential metabolites, out of which 60 were upregulated and 75 were downregulated. Integrated transcriptomic and metabolomic analysis showed enrichment in the phenylpropanoid biosynthesis (ko00940) and flavonoid biosynthesis (ko00941) pathways, with the former acting as an upstream pathway of the latter. A premature senescence pathway was established, and two key metabolites were identified: chlorogenic acid content decreased, and naringenin chalcone content increased in early senescent leaves, suggesting their pivotal roles in the early senescence of red raspberry leaves. Modulating chlorogenic acid and naringenin chalcone levels could delay premature senescence. Optimizing fertilization strategies may thus reduce senescence risk and enhance the productivity, profitability, and sustainability of the red raspberry industry. Full article
(This article belongs to the Special Issue Horticultural Plant Physiology and Molecular Biology)
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31 pages, 2421 KiB  
Article
Optimization of Cooperative Operation of Multiple Microgrids Considering Green Certificates and Carbon Trading
by Xiaobin Xu, Jing Xia, Chong Hong, Pengfei Sun, Peng Xi and Jinchao Li
Energies 2025, 18(15), 4083; https://doi.org/10.3390/en18154083 (registering DOI) - 1 Aug 2025
Viewed by 107
Abstract
In the context of achieving low-carbon goals, building low-carbon energy systems is a crucial development direction and implementation pathway. Renewable energy is favored because of its clean characteristics, but the access may have an impact on the power grid. Microgrid technology provides an [...] Read more.
In the context of achieving low-carbon goals, building low-carbon energy systems is a crucial development direction and implementation pathway. Renewable energy is favored because of its clean characteristics, but the access may have an impact on the power grid. Microgrid technology provides an effective solution to this problem. Uncertainty exists in single microgrids, so multiple microgrids are introduced to improve system stability and robustness. Electric carbon trading and profit redistribution among multiple microgrids have been challenges. To promote energy commensurability among microgrids, expand the types of energy interactions, and improve the utilization rate of renewable energy, this paper proposes a cooperative operation optimization model of multi-microgrids based on the green certificate and carbon trading mechanism to promote local energy consumption and a low carbon economy. First, this paper introduces a carbon capture system (CCS) and power-to-gas (P2G) device in the microgrid and constructs a cogeneration operation model coupled with a power-to-gas carbon capture system. On this basis, a low-carbon operation model for multi-energy microgrids is proposed by combining the local carbon trading market, the stepped carbon trading mechanism, and the green certificate trading mechanism. Secondly, this paper establishes a cooperative game model for multiple microgrid electricity carbon trading based on the Nash negotiation theory after constructing the single microgrid model. Finally, the ADMM method and the asymmetric energy mapping contribution function are used for the solution. The case study uses a typical 24 h period as an example for the calculation. Case study analysis shows that, compared with the independent operation mode of microgrids, the total benefits of the entire system increased by 38,296.1 yuan and carbon emissions were reduced by 30,535 kg through the coordinated operation of electricity–carbon coupling. The arithmetic example verifies that the method proposed in this paper can effectively improve the economic benefits of each microgrid and reduce carbon emissions. Full article
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43 pages, 9817 KiB  
Article
Simulation Analysis of Onshore and Offshore Wind Farms’ Generation Potential for Polish Climatic Conditions
by Martyna Kubiak, Artur Bugała, Dorota Bugała and Wojciech Czekała
Energies 2025, 18(15), 4087; https://doi.org/10.3390/en18154087 (registering DOI) - 1 Aug 2025
Viewed by 94
Abstract
Currently, Poland is witnessing a dynamic development of the offshore wind energy sector, which will be a key component of the national energy mix. While many international studies have addressed wind energy deployment, there is a lack of research that compares the energy [...] Read more.
Currently, Poland is witnessing a dynamic development of the offshore wind energy sector, which will be a key component of the national energy mix. While many international studies have addressed wind energy deployment, there is a lack of research that compares the energy and economic performance of both onshore and offshore wind farms under Polish climatic and spatial conditions, especially in relation to turbine spacing optimization. This study addresses that gap by performing a computer-based simulation analysis of three onshore spacing variants (3D, 4D, 5D) and four offshore variants (5D, 6D, 7D, 9D), located in central Poland (Stęszew, Okonek, Gostyń) and the Baltic Sea, respectively. The efficiency of wind farms was assessed in both energy and economic terms, using WAsP Bundle software and standard profitability evaluation metrics (NPV, MNPV, IRR). The results show that the highest NPV and MNPV values among onshore configurations were obtained for the 3D spacing variant, where the energy yield leads to nearly double the annual revenue compared to the 5D variant. IRR values indicate project profitability, averaging 14.5% for onshore and 11.9% for offshore wind farms. Offshore turbines demonstrated higher capacity factors (36–53%) compared to onshore (28–39%), with 4–7 times higher annual energy output. The study provides new insight into wind farm layout optimization under Polish conditions and supports spatial planning and investment decision making in line with national energy policy goals. Full article
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34 pages, 434 KiB  
Article
Mobile Banking Adoption: A Multi-Factorial Study on Social Influence, Compatibility, Digital Self-Efficacy, and Perceived Cost Among Generation Z Consumers in the United States
by Santosh Reddy Addula
J. Theor. Appl. Electron. Commer. Res. 2025, 20(3), 192; https://doi.org/10.3390/jtaer20030192 - 1 Aug 2025
Viewed by 198
Abstract
The introduction of mobile banking is essential in today’s financial sector, where technological innovation plays a critical role. To remain competitive in the current market, businesses must analyze client attitudes and perspectives, as these influence long-term demand and overall profitability. While previous studies [...] Read more.
The introduction of mobile banking is essential in today’s financial sector, where technological innovation plays a critical role. To remain competitive in the current market, businesses must analyze client attitudes and perspectives, as these influence long-term demand and overall profitability. While previous studies have explored general adoption behaviors, limited research has examined how individual factors such as social influence, lifestyle compatibility, financial technology self-efficacy, and perceived usage cost affect mobile banking adoption among specific generational cohorts. This study addresses that gap by offering insights into these variables, contributing to the growing literature on mobile banking adoption, and presenting actionable recommendations for financial institutions targeting younger market segments. Using a structured questionnaire survey, data were collected from both users and non-users of mobile banking among the Gen Z population in the United States. The regression model significantly predicts mobile banking adoption, with an intercept of 0.548 (p < 0.001). Among the independent variables, perceived cost of usage has the strongest positive effect on adoption (B=0.857, β=0.722, p < 0.001), suggesting that adoption increases when mobile banking is perceived as more affordable. Social influence also has a significant positive impact (B=0.642, β=0.643, p < 0.001), indicating that peer influence is a central driver of adoption decisions. However, self-efficacy shows a significant negative relationship (B=0.343, β=0.339, p < 0.001), and lifestyle compatibility was found to be statistically insignificant (p=0.615). These findings suggest that reducing perceived costs, through lower fees, data bundling, or clearer communication about affordability, can directly enhance adoption among Gen Z consumers. Furthermore, leveraging peer influence via referral rewards, Partnerships with influencers, and in-app social features can increase user adoption. Since digital self-efficacy presents a barrier for some, banks should prioritize simplifying user interfaces and offering guided assistance, such as tutorials or chat-based support. Future research may employ longitudinal designs or analyze real-life transaction data for a more objective understanding of behavior. Additional variables like trust, perceived risk, and regulatory policies, not included in this study, should be integrated into future models to offer a more comprehensive analysis. Full article
30 pages, 866 KiB  
Article
Balancing Profitability and Sustainability in Electric Vehicles Insurance: Underwriting Strategies for Affordable and Premium Models
by Xiaodan Lin, Fenqiang Chen, Haigang Zhuang, Chen-Ying Lee and Chiang-Ku Fan
World Electr. Veh. J. 2025, 16(8), 430; https://doi.org/10.3390/wevj16080430 (registering DOI) - 1 Aug 2025
Viewed by 143
Abstract
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 [...] Read more.
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
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42 pages, 2867 KiB  
Article
A Heuristic Approach to Competitive Facility Location via Multi-View K-Means Clustering with Co-Regularization and Customer Behavior
by Thanathorn Phoka, Praeploy Poonprapan and Pornpimon Boriwan
Mathematics 2025, 13(15), 2481; https://doi.org/10.3390/math13152481 - 1 Aug 2025
Viewed by 179
Abstract
Solving competitive facility location problems can optimize market share or operational efficiency in environments where multiple firms compete for customer attention. In such contexts, facility attractiveness is shaped not only by geographic proximity but also by customer preference characteristics. This study presents a [...] Read more.
Solving competitive facility location problems can optimize market share or operational efficiency in environments where multiple firms compete for customer attention. In such contexts, facility attractiveness is shaped not only by geographic proximity but also by customer preference characteristics. This study presents a novel heuristic framework that integrates multi-view K-means clustering with customer behavior modeling reinforced by a co-regularization mechanism to align clustering results across heterogeneous data views. By jointly exploiting spatial and behavioral information, the framework clusters customers and facilities into meaningful market segments. Within each segment, a bilevel optimization model is applied to represent the sequential decision-making of competing entities—where a leader first selects facility locations, followed by a reactive follower. An empirical evaluation on a real-world dataset from San Francisco demonstrates that the proposed approach, using optimal co-regularization parameters, achieves a total runtime of approximately 4.00 s—representing a 99.34% reduction compared to the full CFLBP-CB model (608.58 s) and a 99.32% reduction compared to a genetic algorithm (585.20 s). Concurrently, it yields an overall profit of 16,104.17, which is an approximate 0.72% increase over the Direct CFLBP-CB profit of 15,988.27 and is only 0.21% lower than the genetic algorithm’s highest profit of 16,137.75. Moreover, comparative analysis reveals that the proposed multi-view clustering with co-regularization outperforms all single-view baselines, including K-means, spectral, and hierarchical methods. This superiority is evidenced by an approximate 5.21% increase in overall profit and a simultaneous reduction in optimization time, thereby demonstrating its effectiveness in capturing complementary spatial and behavioral structures for competitive facility location. Notably, the proposed two-stage approach achieves high-quality solutions with significantly shorter computation times, making it suitable for large-scale or time-sensitive competitive facility planning tasks. Full article
(This article belongs to the Section E: Applied Mathematics)
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14 pages, 5172 KiB  
Article
Sustainable Metal Recovery from Photovoltaic Waste: A Nitric Acid-Free Leaching Approach Using Sulfuric Acid and Ferric Sulfate
by Payam Ghorbanpour, Pietro Romano, Hossein Shalchian, Francesco Vegliò and Nicolò Maria Ippolito
Minerals 2025, 15(8), 806; https://doi.org/10.3390/min15080806 - 30 Jul 2025
Viewed by 187
Abstract
In recent years, recovering precious and base metals such as silver and copper from end-of-life products has become a fundamental factor in the sustainable development of many countries. This not only supports environmental goals but is also a profitable economic activity. Therefore, in [...] Read more.
In recent years, recovering precious and base metals such as silver and copper from end-of-life products has become a fundamental factor in the sustainable development of many countries. This not only supports environmental goals but is also a profitable economic activity. Therefore, in this study, we investigate the recovery of silver and copper from an end-of-life photovoltaic panel powder using an alternative leaching system containing sulfuric acid and ferric sulfate instead of nitric acid-based leaching systems, which are susceptible to producing hazardous gases such as NOx. To obtain this goal, a series of experiments were designed with the Central Composite Design (CCD) approach using Response Surface Methodology (RSM) to evaluate the effect of reagent concentrations on the leaching rate. The leaching results showed that high recovery rates of silver (>85%) and copper (>96%) were achieved at room temperature using a solution containing only 0.2 M sulfuric acid and 0.15 M ferric sulfate. Analysis of variance was applied to the leaching data for silver and copper recovery, resulting in two statistical models that predict the leaching efficiency based on reagent concentrations. Results indicate that the models are statistically significant due to their high R2 (0.9988 and 0.9911 for Ag and Cu, respectively) and the low p-value of 0.0043 and 0.0003 for Ag and Cu, respectively. The models were optimized to maximize the dissolution of silver and copper using Design Expert software. Full article
(This article belongs to the Special Issue Recycling of Mining and Solid Wastes)
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23 pages, 1652 KiB  
Article
Case Study on Emissions Abatement Strategies for Aging Cruise Vessels: Environmental and Economic Comparison of Scrubbers and Low-Sulphur Fuels
by Luis Alfonso Díaz-Secades, Luís Baptista and Sandrina Pereira
J. Mar. Sci. Eng. 2025, 13(8), 1454; https://doi.org/10.3390/jmse13081454 - 30 Jul 2025
Viewed by 198
Abstract
The maritime sector is undergoing rapid transformation, driven by increasingly stringent international regulations targeting air pollution. While newly built vessels integrate advanced technologies for compliance, the global fleet averages 21.8 years of age and must meet emission requirements through retrofitting or operational changes. [...] Read more.
The maritime sector is undergoing rapid transformation, driven by increasingly stringent international regulations targeting air pollution. While newly built vessels integrate advanced technologies for compliance, the global fleet averages 21.8 years of age and must meet emission requirements through retrofitting or operational changes. This study evaluates, at environmental and economic levels, two key sulphur abatement strategies for a 1998-built cruise vessel nearing the end of its service life: (i) the installation of open-loop scrubbers with fuel enhancement devices, and (ii) a switch to marine diesel oil as main fuel. The analysis was based on real operational data from a cruise vessel. For the environmental assessment, a Tier III hybrid emissions model was used. The results show that scrubbers reduce SOx emissions by approximately 97% but increase fuel consumption by 3.6%, raising both CO2 and NOx emissions, while particulate matter decreases by only 6.7%. In contrast, switching to MDO achieves over 99% SOx reduction, an 89% drop in particulate matter, and a nearly 5% reduction in CO2 emissions. At an economic level, it was found that, despite a CAPEX of nearly USD 1.9 million, scrubber installation provides an average annual net saving exceeding USD 8.2 million. From the deterministic and probabilistic analyses performed, including Monte Carlo simulations under various fuel price correlation scenarios, scrubber installation consistently shows high profitability, with NPVs surpassing USD 70 million and payback periods under four months. Full article
(This article belongs to the Special Issue Sustainable and Efficient Maritime Operations)
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29 pages, 697 KiB  
Article
Economic Performance of the Producers of Biomass for Energy Generation in the Context of National and European Policies—A Case Study of Poland
by Aneta Bełdycka-Bórawska, Rafał Wyszomierski, Piotr Bórawski and Paulina Trębska
Energies 2025, 18(15), 4042; https://doi.org/10.3390/en18154042 - 29 Jul 2025
Viewed by 320
Abstract
Solid biomass (agro-residue) is the most important source of renewable energy. The accelerating impacts of climate change and global population growth contribute to air pollution through the use of fossil fuels. These processes increase the demand for energy. The European Union has adopted [...] Read more.
Solid biomass (agro-residue) is the most important source of renewable energy. The accelerating impacts of climate change and global population growth contribute to air pollution through the use of fossil fuels. These processes increase the demand for energy. The European Union has adopted a climate action plan to address the above challenges. The main aim of this study was to assess the economic performance of the producers of biomass for energy generation in Poland. The detailed objectives were to determine land resources in the studied agricultural farms and to determine the value of fixed and current assets in the analyzed farms. We used questionnaires as the main method to collect data. Purposive sampling was used to choose the farms. We conducted various tests to analyze the revenues from biomass sales and their normality, such as the Dornik–Hansen test, the Shapiro–Wilk test, the Liliefors test, and the Jargue–Berra statistical test. Moreover, we conducted regression analysis to find factors that are the basis for the economic performance (incomes) of farms that sell biomass. Results: This study demonstrated that biomass sales had a minor impact on the performance of agricultural farms, but they enabled farmers to maintain their position on the market. The economic analysis was carried out on a representative group of Polish agricultural farms, taking into account fixed and current assets, land use, production structure, and employment. The findings indicate that a higher income from biomass sales was generally associated with better economic results per farm and per employee, although not always per hectare of land. This suggests that capital intensity and strategic resource management play a crucial role in the profitability of bioenergy-oriented agricultural production. Conclusions: We concluded that biomass sales had a negligible influence on farm income. But a small income from biomass sales could affect a farm’s economic viability. Full article
(This article belongs to the Section A4: Bio-Energy)
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20 pages, 1978 KiB  
Review
Banking Profitability: Evolution and Research Trends
by Francisco Sousa and Luís Almeida
Int. J. Financial Stud. 2025, 13(3), 139; https://doi.org/10.3390/ijfs13030139 - 29 Jul 2025
Viewed by 285
Abstract
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 [...] Read more.
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
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19 pages, 775 KiB  
Article
Optimization of Mining Sequence for Ion-Adsorbed Rare Earth Mining Districts Incorporating Environmental Costs
by Lu Yi, Yi Zeng and Minggui Zheng
Sustainability 2025, 17(15), 6871; https://doi.org/10.3390/su17156871 - 29 Jul 2025
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Abstract
The mining sequence of ionic rare earth mineral mining districts is related to the effective utilization of rare earth mineral resources and the protection of ecological environment. This study establishes an optimization model for the mining sequence of ion-adsorption rare earth mining districts [...] Read more.
The mining sequence of ionic rare earth mineral mining districts is related to the effective utilization of rare earth mineral resources and the protection of ecological environment. This study establishes an optimization model for the mining sequence of ion-adsorption rare earth mining districts that incorporates environmental costs, using the net present value (NPV) of the mining district and the net present value of environmental costs (CE) as objective functions. The model is applied to optimize the mining sequence of Mining District L. The results demonstrate that (1) Four algorithms, namely NSGA-II, NSGA-III, IBEA, and MOEA/D, were selected for comparison. The analysis based on the distribution of solutions, hypervolume values (HV), and computational time revealed that the IBEA exhibited superior performance. (2) The IBEA was employed to solve the multi-objective optimization problem, yielding a set of 30 optimal solutions. Different NPVs corresponded to different CE values, with the CE value increasing correspondingly as the NPV increased. (3) The weighted method was employed to transform the multi-objective optimization problem into a single-objective formulation. Using a genetic algorithm (GA), the optimal solution yielded a decision variable sequence for mining order as [2, 5, 8, 4, 1, 9, 6, 7, 3, 10, 11], with the net present value (NPV) of mining district profits reaching CNY 76,640.65 million and the environmental cost NPV amounting to CNY 19,469.18 million. Compared with the mining sequence optimization scheme that did not consider CE, although the NPV decreased by CNY 3.3266 million, the CE was reduced by CNY 10.6993 million. The mining sequence optimization model with environmental costs constructed in this paper provides a scientific decision-making basis for mining enterprises to consider the mining sequence in mining districts, minimize the damage to the ecological environment, and promote the coordinated progress of resource development and sustainable development. Full article
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