Search Results (484)

Global warming threatens sustainable human development, and carbon emission rights trading (CERT) has emerged as a key market-based tool for reducing emissions. Yet evidence on how CERT affects corporate green innovation—especially high-quality, substantive innovation—remains mixed and fragmented. Using unbalanced panel data on Chinese A-share listed firms from 2007 to 2016 and applying fixed-effect, DID, and PSM-DID models, this study examines the impact of China’s CERT pilot policy on quota-managed firms’ green innovation. The results show that the policy primarily stimulates substantive green innovation, reflected in green invention patents, with limited influence on strategic, low-novelty patents. Its effects are stronger for firms in central and western pilot regions, in non-high-tech industries, and at more mature stages of development, and differ between firms that anticipated regulation and those brought under quota management unexpectedly. Overall, the findings indicate that a well-designed carbon trading mechanism can reallocate resources to incentivize high-quality green innovation, offering micro-level support for Coasian market-based approaches to environmental externalities and informing the further development of China’s national carbon market. Full article

The study explores how consumer buying behavior is influenced by artificial intelligence (AI) personalization, with a specific focus on responsible and sustainability-aligned digital marketing. Using an explanatory sequential mixed-methods design, the study analyzes a quantitative survey and qualitative interviews. Results show that purchase behavior is strongly affected by exposure to AI messages—especially when recommendations are relevant, timely, and emotionally appealing—and by trust in AI, while perceived lack of trust inhibits purchasing. Qualitative findings underscore affective responses alongside ethical concerns, perceived transparency, and perceived control over data. Overall, the study shows that effective personalization depends not only on algorithmic sophistication but also on users’ sense of relevance and autonomy and on ethical data governance. The conclusions highlight sustainability-consistent implications for marketers: increase data transparency, segment customers by privacy sensitivity, and adopt accountable, consent-based personalization to build durable trust and loyalty. Future research should examine longitudinal effects and cultural differences, acknowledging limits of small purposive qualitative samples for generalization and exploring how consumer trust, ethical perceptions, and responses to AI personalization evolve over time. Full article

As the participation of photovoltaic–storage systems (PVSS) in the energy and frequency regulation ancillary service markets continues to increase, the market risks caused by photovoltaic output uncertainty will directly affect photovoltaic integration efficiency and the provision of system flexibility, thereby having a significant impact on the sustainable development of power systems. Therefore, studying the risk decision-making of PVSS in the energy and frequency regulation markets is of great importance for supporting the sustainable development of power systems. First, to address the issue where the existing studies regard PVSS as a price taker and fail to reflect the impact of bids on clearing prices and awarded quantities, this paper constructs a market bidding framework in which PVSS acts as a price-maker. Second, in response to the revenue volatility and tail risk caused by PV uncertainty, and the fact that existing CVaR-based bidding studies focus mainly on a single energy market, this paper introduces CVaR into the price-maker (Stackelberg) bidding framework and constructs a two-stage bi-level risk decision model for PVSS. Finally, using the Karush–Kuhn–Tucker (KKT) conditions and the strong duality theorem, the bi-level nonlinear optimization model is transformed into a solvable single-level mixed-integer linear programming (MILP) problem. A simulation study based on data from a PV–storage power generation system in Northwestern China shows that compared to PV systems participating only in the energy market and PVSS participating only in the energy market, PVSS participation in both the energy and frequency regulation joint markets results in an expected net revenue increase of approximately 45.9% and 26.3%, respectively. When the risk aversion coefficient, β, increases from 0 to 20, the expected net revenue decreases slightly by about 0.4%, while CVaR increases by about 3.4%, effectively measuring the revenue at different risk levels. Full article

Green technologies are strongly present in the energy mixes of countries around the world. In addition to the need to reduce the extraction of non-renewable raw materials and the harmful environmental impact associated with energy production, the trend towards renewable energy development should also be linked to the need to minimize energy poverty stemming from high electricity prices and the need to increase the energy efficiency of existing solutions. These issues formed the basis for the study’s objective, which was to examine the regulatory framework for the development of Poland’s energy system, with particular emphasis on sustainable development. A particularly important aspect of the study was the exploration of the market for green technologies introduced into the energy system in Poland, with a primary focus on solutions dedicated to small, individual consumers (households). The cognitive value of the study and its original character is created by the cognitive aspect in terms of the interests and consumer preferences of households in this area, motivated by economic considerations related to the energy efficiency aspect of RES solutions. In this regard, there is a relatively limited number of current studies conducted for the reference country (Poland), justifying the choice of the research topic and theme. For the purposes of the study, a literature review, as well as legal standards and industry reports, was conducted. A practical study was conducted based on the results of surveys conducted by selected companies involved in the sale and installation of heating solutions. Detailed research was supported by statistical instruments using PQstat software version 1.8.4.164. Key findings confirm significant household interest in green electricity production technologies, which enable improved energy efficiency of home energy installations. Importantly, the potential for lower electricity bills, which can be attributed to low system maintenance costs and the ability to manage consumption, is a factor in choosing renewable energy solutions. Current interest in renewable energy solutions focuses on heat pumps, photovoltaics, and energy storage. Renewable energy users are interested in integrating renewable energy technology solutions into energy production and management to optimize energy consumption costs and increase household energy independence. Full article

This study examines how national electricity market structures condition the impact of carbon pricing on green innovation within the European Union. Using two-way fixed-effects panel models, we uncover a central paradox: although liberalized, price-signal markets exhibit the highest baseline levels of green innovation, the marginal effect of carbon pricing in these markets is weakest and often negative. This pattern points to an innovation-substitution effect, whereby market flexibility facilitates short-term compliance strategies, such as fuel switching, that crowd out investment in fundamental research and development (R&D) when carbon prices remain moderate. By identifying this mechanism, the study establishes electricity market structure as a pivotal moderating factor in the carbon pricing–innovation nexus and highlights a critical boundary condition for the Porter Hypothesis. The findings provide important insights for the design of sustainability policy mixes, demonstrating that institutional context plays a decisive role in translating economic instruments into sustained technological change. Effective climate policy therefore cannot be context-blind; instead, it must combine carbon pricing with tailored market design and direct support for long-term R&D to coherently advance the sustainability transition. Full article

As the largest exporter in the global solid tire market, Sri Lanka’s natural rubber supply chain plays a critical role in global production, yet its social dimension remains largely unaddressed. Our study aims to assess the social performance of a Sri Lankan natural rubber supply chain in solid tire manufacturing using social life cycle assessment (S-LCA) in a cradle-to-gate approach. Study adapts “More Good and Less Bad” method which captures both positive and negative social impacts, addressing traditional S-LCAs’ focus on negative impacts solely. It applies to updated methodological sheets to distinguish “good” and “bad” social conditions across subcategories based on baseline compliance. Social impacts were quantified using a Social Performance Index (SPI), calculated by multiplying social performance levels by working hours at the organizational level, comprising SPI_good for good social impacts and SPI_bad for bad social impacts. Data was collected through stakeholder interviews, with working hours calculated using a “working hour model”. Results showed mixed social performance across 39 subcategories, identifying six social hotspots: promoting social responsibility (27.67% less bad, 72.32% more good), wealth distribution (26.87% less bad, 73.13% more good), commitment to sustainability issues (100% less bad), social benefits (100% less bad), safe and healthy living conditions (100% less bad), and hours of work (88.74% less bad, 11.26% more good). Full article

The rapid advancement of energy collection and storage systems (ECSSs) is fundamentally reshaping global energy markets and accelerating the transition toward low-carbon energy systems. This study provides a comprehensive assessment of the economic benefits and systemic effects of advanced ECSS technologies, including photovoltaic-thermal (PV/T) hybrid systems, advanced batteries, hydrogen-based storage, and thermal energy storage (TES). Through a mixed-methods approach combining techno-economic analysis, macroeconomic modeling, and policy review, we evaluate the cost trajectories, performance indicators, and deployment impacts of these technologies across major economies. The paper also introduces a novel economic-mathematical model to quantify the long-term macroeconomic benefits of large-scale ECSS deployment, including GDP growth, job creation, and import substitution effects. Our results indicate significant cost reductions for ECSS by 2050, with battery storage costs projected to fall below USD 50 per kilowatt-hour (kWh) and green hydrogen production reaching as low as USD 1.2 per kilogram. Large-scale ECSS deployment was found to reduce electricity costs by up to 12%, lower fossil fuel imports by up to 25%, and generate substantial GDP growth and job creation, particularly in regions with supportive policy frameworks. Comparative cross-country analysis highlighted regional differences in economic effects, with the European Union, China, and the United States demonstrating the highest economic gains from ECSS adoption. The study also identified key challenges, including high capital costs, material supply risks, and regulatory barriers, emphasizing the need for integrated policies to accelerate ECSS deployment. These findings provide valuable insights for policymakers, industry stakeholders, and researchers aiming to design effective strategies for enhancing energy security, economic resilience, and environmental sustainability through advanced energy storage technologies. Full article

This paper investigates the factors of sustainability of the financial performance of Islamic insurance (Takaful) windows in Pakistan. A large body of literature has examined Takaful providers across many countries; however, there is little research on the dynamics of Takaful windows. This study uses an analytical approach to investigate the effects of various operational and financial measures on Takaful window performance. It is one of the earliest works to examine the profitability of Takaful windows with a dynamic PVAR model, providing new evidence on the peculiar financial forces in hybrid Islamic–conventional insurance frameworks. It explores the effects of the retention ratio, Wakalah fees, commission ratio, gross written contributions, and underwriting surplus on profitability, measured by return on assets (ROA) and return on equity (ROE). It uses annual data from 18 Pakistani Takaful window insurers, employs a panel vector autoregressive framework to capture dynamic interdependencies and endogeneity, and conducts a variance decomposition with impulse response analysis. The findings indicate that the retention ratio and underwriting surplus have significant positive effects on ROA, whereas Wakalah fees have a negative impact. In the case of ROE, the underwriting surplus and commission ratio are associated with positive effects; meanwhile, the retention ratio and gross written contributions are related to negative effects. Variance decomposition emphasizes the commission and retention ratios as the main sources of profitability, with Wakalah fees and underwriting surplus being insignificant. The regulators need to ensure proper fund separation and establish the most optimal rules regarding Wakalah fees. The operation of Takaful windows should focus on commission management and business retention strategies to enhance profitability and financial sustainability. The increase in the financial performance of Takaful windows contributes to the expansion of Shariah-compliant insurance, facilitating the financial inclusion of Muslim communities in mixed markets. Full article

This study explores how digital and traditional marketing tools influence higher education students’ career decision-making, satisfaction, and career commitment during students’ educational trajectories in Iraq’s rapidly expanding university sector. Using an explanatory sequential mixed-methods design, a survey of 622 students was analysed with partial least squares structural equation modelling (PLS-SEM), followed by 24 semi-structured interviews with marketing and recruitment professionals. The quantitative findings show that students’ first-choice preferences, demographic factors, and engagement with LinkedIn, WeChat, blogs, and university webpages significantly shaped their career choices and satisfaction levels. Qualitative insights reveal that authenticity, transparent communication, and alignment between institutional messaging and lived experiences were key to sustaining trust. Traditional channels such as brochures and fairs remained important for credibility, supporting a hybrid marketing approach. The study contributes to management theory and practice in universities by linking digital communication strategies to student engagement and institutional performance. It also highlights the need for inclusive, transparent, and culturally adaptive marketing that reflects local and global contexts. These findings provide actionable guidance for higher education administrators seeking to build sustainable student trust, enhance recruitment effectiveness, and strengthen institutional reputation in competitive and resource-constrained systems. Full article

Smallholder rice farmers in sub-Saharan Africa face persistent livelihood challenges due to declining returns from monocropping, limited diversification opportunities, and vulnerability to climate and market shocks. This study integrated the Drivers–Pressures–State–Impact–Response (DPSIR) framework with the sustainable livelihood approach to evaluate how the transition from rice monocropping to integrated rice–fish farming influences productivity, profitability, and household welfare in Nigeria’s leading rice-producing region. Using a mixed-methods, three-year panel (2021–2023) of 228 households across three communities in Kebbi State, descriptive statistics, regression models, and thematic analyses were combined to assess changes in livelihood capitals, system pressures, and response mechanisms. Adoption of rice–fish systems was associated with substantial improvements: 96.1% of farmers reported increased income, 56.3% improved food security, and 30.6% greater dietary diversity. Regression analyses confirmed that access to more land (p < 0.001 for healthcare and education; p = 0.011 for social status), labor affordability (p < 0.001), and farm size (p < 0.05) were consistent predictors of gains in healthcare, education, and social status, while pesticide and herbicide use negatively affected food access and wellbeing (p < 0.05). The DPSIR assessment revealed that rice–fish integration altered the state of rice production systems through reductions in input-related pressures and generated positive livelihood impacts. The results align with Sustainable Development Goals (SDGs) related to poverty reduction, food and nutrition security, sustainable production, and biodiversity conservation, and provide the first large-scale, longitudinal evidence from West Africa that integrated rice–fish systems support food security, income diversification, and sustainable resource management. Full article

To avoid tourism market failure caused by inappropriate development strategies, a study was conducted on the travel preferences of Generation Z, the future tourism market. The study found that tourism has shifted from comfortable, tranquil, and easily accessible areas to areas with unique views, extreme topography, proximity to nature, and instagrammable features. This shift reflects tourists’ responses and motivations. This study used a mixed-methods approach, involving 28 tourism managers and 147 Generation Z tourists. Quantitative methods, such as questionnaires, examined tourism motivations through push and pull factors, while in-depth interviews, a qualitative method, examined shifts in the tourism space. The results of this study demonstrate a shift away from the classical view that younger generations’ tourism behavior is predominantly hedonistic and consumptive toward an experience-oriented, nature-connected orientation, aligned with the concept of eco-experiential tourism. Rather than indicating a uniform or definitive shift in reflection, this tendency highlights the growing importance of experiential, cultural, and digital values in Generation Z’s travel preferences. Theoretically, the study contributes to refining existing perspectives by emphasizing the social, technological, and ecological dimensions shaping these preferences. In practice, the findings underscore the need for tourism policies that integrate nature conservation, digital innovation, and the strengthening of local culture to support sustainable destinations. Full article

Green finance is increasingly expected to support decarbonization while enhancing productivity, yet evidence on whether green credit bonds raise green total factor productivity (GTFP) remains limited. Using panel data for 29 provincial-level regions in China from 2016 to 2023, we compute GTFP using a slacks-based measure Malmquist–Luenberger (SBM–ML) index and estimate two-way fixed-effects models. To address endogeneity, we employ a Bartik shift–share instrumental-variable strategy. We found that green credit bonds significantly increase GTFP, with gains driven mainly by technological change (TC) rather than efficiency change (EC). The effect is stronger in eastern and western regions, in provinces that are not low-carbon pilot areas, and in regions with stronger low-carbon governance orientation. Public environmental attention directly improves GTFP but dampens the marginal effect of green credit bonds. Mechanism analyses further indicate that the low-carbon transition of the energy mix (LCEM) is an important transmission channel. Overall, these findings suggest that scaling up and better targeting green credit bonds, alongside complementary governance and public scrutiny, can accelerate China’s transition toward higher green productivity. This provides sustainability-relevant evidence that market-based green finance can support decarbonization while sustaining productivity growth, contributing to long-term sustainable development. Full article

The present paper analyses the extent to which European Union regulatory frameworks induce the development of circular agriculture within the European Union. In order to evaluate the progress towards circular agriculture within the European Union, a composite Agricultural Circularity Index (ACI) was developed for all EU-27 Member States for the period of 2014–2023. An expert interview and a TOPSIS multi-criteria decision-making technique were employed for the construction of the ACI. Results indicate only marginal improvements in the development of circular agriculture on the aggregate EU level, although a pronounced cross-country divergence towards achieving circularity in agriculture was observed. The following four distinct trajectories in the evolution of the circular economy within the EU were distinguished: structurally advancing promoters, short-term breakthrough cases, high baseline, but eroding systems, and mixed or stagnating countries. Indicator decomposition analysis reveals that durable circularity gains in agriculture arise when increased material recirculation coincides with verifiable bandwidth, whereas intensifying input use frequently negates the progress. The findings underscore that regulatory ambition alone is insufficient: implementation design, uncompromised enforcement, and market integration determine whether initial initiatives towards circular agriculture materialize into sustainable practices or remain transitory. From a policy perspective, the ACI functions as a diagnostic tool to locate structural bottlenecks and to target CAP-style interventions where circular flows can be scaled most effectively. Full article

This study develops a value co-creation-oriented analytical framework to evaluate the performance and evolutionary dynamics of China’s national-level quality policies from 1979 to 2023. A comprehensive categorization and scoring system is established to measure policy intensity, coordination, and comprehensiveness. Policy texts are systematically coded through content analysis, and indicator weights are determined using the Analytic Hierarchy Process (AHP). The resulting composite effect values are further analyzed through punctuated-equilibrium testing, breakpoint analysis, and a Vector Autoregression (VAR) model to estimate the temporal lag of policy implementation. Based on 10,962 policy documents retrieved from the Peking University Law Database, the results reveal clear evolutionary stages and cyclical upward trends in policy performance since the reform and opening-up, while the insufficient supply of demand-side policies remains a long-term structural weakness. The overall evolution path shows a transition from unilateral government provision centered on public value to dual government–market regulation driven by mixed commercial value, and finally toward pluralistic quality governance under value co-creation. Empirical evidence also indicates that quality policies act as short-term stimulus instruments that generate positive but sectorally differentiated effects across the three major industries. These findings highlight the need to expand policy coverage, enhance coordination and comprehensiveness, and rebalance the supply structure. Strengthening short-term stimulus effects while promoting inclusive, co-governed, and sustainable quality policy systems can further improve long-term effectiveness and provide useful insights for international discussions on value co-creation-based governance. Full article

The transition toward intelligent and sustainable power systems requires practical schemes to integrate industrial demand flexibility into short-term operation, particularly in emerging electricity markets. This paper proposes an integrated framework that combines data-driven flexibility characterisation with a bi-level optimisation model for an industrial demand-side aggregator participating in the short-term balancing market. Flexibility is identified from AMI data and process information of large consumers, yielding around 2 MW of interruptible load and 3 MW of reducible load over a 24 h horizon. At the upper level, the aggregator maximises its profit by submitting flexibility offers; at the lower level, the system operator minimises balancing costs by co-optimising thermal generation and activated flexibility. The problem is formulated as a mixed-integer linear programming model and is evaluated on a real subtransmission and distribution network of a local utility in Ecuador, with ex-post power flow validation in DIgSILENT PowerFactory. Numerical results show that, despite the limited flexible capacity, the aggregator reduces the maximum energy price from USD/MWh 172.32 to 139.59 (about 19%), generating a daily revenue of USD 2475.15. From a network perspective, demand flexibility eliminates undervoltage at the most critical bus (from 0.93 to 1.03 p.u.) without creating overvoltages, while line loadings remain below 50% in all cases and total daily technical losses decrease from 89.46 to 89.10 MWh (about 0.4%). These results highlight both the potential and current limitations of industrial demand flexibility in short-term markets. Full article