Search Results (52)

There is a growing market for plant-based alternative beverages (PBAs) promoted as alternatives to dairy milk. Part of their popularity is that consumers consider them better for both the environment and human health. These perceptions, however, may not be entirely supported by scientific evidence. A holistic comparison of dairy milk and PBAs is difficult because their prices typically do not reflect their environmental and nutritional health impacts, although PBAs tend to be significantly more expensive than dairy milk. Here, we integrate key results from the scientific literature using a True Cost Accounting (TCA) approach to compare dairy milk and five PBAs based on their market retail price and a quantification—and when possible, monetization—of key environmental, nutritional, and social impacts: Global Warming Potential (GWP), dietary risks, and forced labor, respectively. We compare whole dairy milk with five PBAs: soy, almond, oat, coconut, and pea, which account for 97% of retail market sales in the USA. The results show that while environmental, nutritional, and social benefits attributed to PBAs compared to dairy milk exist and can be significant, they are heterogenous, and for some PBAs, they may not be as significant as commonly perceived, particularly when the price premium they command are considered. Full article

Forecast risk management is central to the financial management process. This study aims to apply Monte Carlo simulation to solve three classic probabilistic paradoxes and discuss their implementation in corporate financial management. The article presents Monte Carlo simulation as an advanced tool for risk management in financial management processes. This method allows for a comprehensive risk analysis of financial forecasts, making it possible to assess potential errors in cash flow forecasts and predict the value of corporate treasury growth under various future scenarios. In the investment decision-making process, Monte Carlo simulation supports the evaluation of the effectiveness of financial projects by calculating the expected net value and identifying the risks associated with investments, allowing more informed decisions to be made in project implementation. The method is used in reducing cash flow volatility, which contributes to lowering the cost of capital and increasing the value of a company. Simulation also enables more accurate liquidity planning, including forecasting cash availability and determining appropriate financial reserves based on probability distributions. Monte Carlo also supports the management of credit and interest rate risk, enabling the simulation of the impact of various economic scenarios on a company’s financial obligations. In the context of strategic planning, the method is an extension of decision tree analysis, where subsequent decisions are made based on the results of earlier ones. Creating probabilistic models based on Monte Carlo simulations makes it possible to take into account random variables and their impact on key financial management indicators, such as free cash flow (FCF). Compared to traditional methods, Monte Carlo simulation offers a more detailed and precise approach to risk analysis and decision-making, providing companies with vital information for financial management under uncertainty. This article emphasizes that the use of Monte Carlo simulation in financial management not only enhances the effectiveness of risk management, but also supports the long-term growth of corporate value. The entire process of financial management is able to move into the future based on predicting future free cash flows discounted at the cost of capital. We used both numerical and analytical methods to solve veridical paradoxes. Veridical paradoxes are a type of paradox in which the result of the analysis is counterintuitive, but turns out to be true after careful examination. This means that although the initial reasoning may lead to a wrong conclusion, a correct mathematical or logical analysis confirms the correctness of the results. An example is Monty Hall’s problem, where the intuitive answer suggests an equal probability of success, while probabilistic analysis shows that changing the decision increases the chances of winning. We used Monte Carlo simulation as the numerical method. The following analytical methods were used: conditional probability, Bayes’ rule and Bayes’ rule with multiple conditions. We solved truth-type paradoxes and discovered why the Monty Hall problem was so widely discussed in the 1990s. We differentiated Monty Hall problems using different numbers of doors and prizes. Full article

Written accounts of cultural festivals often deal with the various activities that comprise those types of events. There is a paucity of analyses that discuss how festivals encourage the status quo of consumption practices, while conjuring their hidden costs on society. This paper analyses how the Hamburg Cruise Days Festival attempted to perpetuate the status quo of the cruising industry. The research answers the following question: What would it take to help change the current “cobalt” color promoted by the organizers of the Hamburg’s Waterfront Cruise Days Festival to a “True Blue”, a symbol of the cleanest sky and harbor waters in Germany, and the best example of sustainable Green and Blue Infrastructure in Europe? The research methods comprised in loco fieldwork participant observation in the tradition of participatory action research. It is argued that, from a governance perspective, festival organizers ought to be required to disclaim, in the fashion of “truth in advertising”, the ecological impacts and sponsors’ progress toward reaching existing environmental standards to eradicate costly social and environmental injustices. Said practice will increase our individual and collective awareness of the invaluable richness of the world’s land- and water-based environment before it is irreplaceably exhausted. The article suggests extending events’ emphasis on sustainable tourism to also encompass three additional measures: (i) the socio-ecological performance of the cruise (and shipping) industry; (ii) in the fashion of a Solomonic approach to justice; and (iii) within a formalized Porto of Call Sister Cities Network. Full article

Based on China’s multi-region input–output tables from 2012 and 2017, we measured the greywater footprint and the value-added totals implied by trade within the Yangtze River Economic Belt. Additionally, we constructed an environmental inequity index to analyze the environmental inequity resulting from shifts in the greywater footprint. Finally, we designed and compared two sets of eco-compensation schemes based on the direct and opportunity costs of water resources. The results indicate that: (1) economically developed regions with strong consumption capacities, such as Jiangsu, Zhejiang, and Shanghai, are the primary importers of greywater footprints, whereas the opposite is true for exporters, with most of these regions having a higher GDP (Gross Domestic Product) share from agriculture; (2) a trade phenomenon exists where developed regions leverage their high-value-added industries to exploit underdeveloped regions, exacerbating regional imbalances and hindering the overall coordinated and high-quality development of the region; (3) the direct cost option is less effective than the opportunity cost option in promoting overall regional environmental equity, as the direct cost option fails to account for indirect costs, making the opportunity cost option more advantageous for fostering coordinated regional development. Full article

True Cost Accounting (TCA) aims to assess positive and negative externalities in agri-food value chains by focusing on four capitals: produced, natural, human, and social. While produced capital is easily measured through market values, obtaining relevant data for measuring natural, human, and social capitals can be challenging. To address this challenge, this paper presents a case study around the production in Asia of three globally important edible plant oils: palm, rapeseed, and coconut. Results show that readily available methods and data from different types of Life Cycle Assessments (LCAs) can be integrated into the framework of TCA to quantify and monetize positive and negative externalities associated with the production and consumption of these oils and to analyze the tradeoffs involved in choosing among them. However, the use of LCA methods and data also entails significant assumptions and limitations that must be considered when evaluating their use in TCA. Specific results show that the environmental impacts of production are small in comparison to the potential nutritional health benefits of consuming one oil over another. This study provides a roadmap for conducting similar analyses, allowing for a greater understanding of often overlooked sustainability and nutritional issues of food items. Full article

Agricultural landscapes are currently suffering and generating severe ecological issues. This is especially true in intensively managed alluvial contexts, where biodiversity is declining and ecosystem services (ES) delivery capacity is being depleted. The aim of our study is to set up and test a synthetic analytical methodology that allows us to: understand current agricultural landscape ecological quality drivers (structural and functional traits); identify context-specific strategies to correct current negative trends (landscape ecology design approach); and assess the changes in the landscape ecological behavior provided by design scenarios. The applied methodology is low-cost and low-time-demanding and is based on multi-scale landscape ecology and land-use-based ES assessment; it implements a pattern-process-design approach. Analyses are applied to four northern Italian alluvial agricultural landscape systems. We specifically address landscape biodiversity support functions (landscape ecology indicators) and landscape multifunctionality (ES spatial assessment). We test the agroforestry approach (landscape feature insertions and crop diversification) as a key strategy to enhance ecological quality and ES, and we account for its contributions to context-specific design scenarios. This analytical toolkit might serve for future applications on similar case studies. Full article

Energy management is important for both consumers and utility providers. Utility providers are concerned with identifying and reducing energy wastage and thefts. Consumers are interested in reducing their energy consumption and bills. In Pakistan, residential and industrial estates account for nearly 31,000 MW of the maximum total demand, while the transmission and distribution capacity has stalled at about 22,000 MW. This 9000 MW gap in demand and supply, as reported in 2022, has led to frequent load shedding. Although the country now has an excess generation capacity of about 45,000 MW, the aging transmission and distribution network cannot deliver the requisite power at all times. Hence, electricity-related problems are likely to continue for the next few years in the country and the same is true for other low- and middle-income countries (LMICs). Several energy monitoring systems (EnMS) have been proposed, but they face limitations in terms of cost, ease of application, lack of universal installation capability, customization, and data security. The research below focused on the development of an economical, secure, and customizable real-time EnMS. The proposed EnMS comprises low-cost hardware for gathering energy data with universal compatibility, a secured communication module for real-time data transmission, and a dashboard application for visualization of real-time energy consumption in a user-preferred manner, making the information easily accessible and actionable. The experimental results and analysis revealed that approximately 40% cost savings in EnMS development could be achieved compared to other commercially available EnMSs. The performance of the EnMS hardware was evaluated and validated through rigorous on-site experiments. The front-end of the EnMS was assessed through surveys and was found to be interactive and user-friendly for the target clients. The developed EnMS architecture was found to be an economical end-product and an appropriate approach for small and medium clients such as residential, institutional, commercial, and industrial consumers, all on one platform. Full article

The Anthropocene, marked by human-induced climate change, necessitates urgent action to address climate goals and respect planetary boundaries. While sustainability research provides knowledge, the first challenge lies in communicating the findings in an adequate manner to the public and several stakeholders, such as economic and political actors. Therefore, this study explores the significance of science communication in sustainability science, focusing on a case study—the True Cost Accounting (TCA) campaign by the University of Greifswald, Technical Institute of Nuremberg, and German retailer PENNY. TCA herein serves as a transparency tool, economic incentive, and discussion basis for sustainable consumption. This study investigates consumer perceptions of ecological prices of foods through a face-to-face survey during the 2023 PENNY campaign, comparing results to an informational campaign carried out in 2021. Findings indicate a high awareness of the true cost campaign in 2023, with 50.8% of participants hearing about it. Consumers’ willingness to pay true costs and potential behavior changes were explored. In comparison to results from the informational campaign of 2021, customers showed a decrease in this WTP when the true prices would actually impact their spending, indicating an attitude–behavior gap. In addition, a willingness to reduce the consumption of animal foods—if TCA was implemented—of 60.5% was determined, which suggests that TCA has the potential for sustainable behavior change. This study highlights factors that influence consumer attitudes and preferences regarding the inclusion of TCAs, such as environmental, social, and animal welfare costs. Customers’ understanding of increased prices—like, in this case, the compensation for environmental and social costs—is an argument in favor of true prices. The results emphasize the need for differentiated scientific communication strategies to bridge knowledge and action gaps in sustainability science. Full article

This paper presents a method for assortment–quantity production scheduling in a printing company. The company uses specialized machinery to make prints on clothing. The method is based on a study of the company’s practical operations and the production technologies used. It involves the construction of simulation and optimization models of the process. The simulation models reflect the technical aspects of the production process and the business requirements. Optimization models provide solutions that balance product sales revenue with appropriate production schedules. On this basis, managers can make resource-balanced decisions on the implementation of selected production plans, taking into account the current economic conditions of the company. The experiments used the FlexSim simulation program (by FlexSim Software Products, Inc., Orem, UT 84097 USA; v. 20.1.3.1) and the OptQuest optimization package (embedded in FlexSim), resulting in a cost-effective solution in a short time. The proposed method, thanks to the optimization of the production program, provides savings in the use of materials for production, as well as water and energy savings in the production process. Thanks to the possibility of analyzing the process without interfering with it, provided by simulation modelling, the method practically eliminates the costs and time needed to prepare the execution of new production orders. This contributes to the sustainable development of the company and provides an opportunity to assess the impact of potential business decisions in the company prior to their implementation. The method has been directly applied in a company to improve its performance. The method is scalable and can be applied to problems of varying complexity and production systems of different types and sizes. This is especially true for small- and medium-sized companies that use discrete manufacturing in the textile, metal, and furniture industries. Full article

Simulating the performance of the Sustainable Development Goals (SDGs) provides guidance to policymakers for faster achievement of the 2030 Agenda. However, current modeling and forecasting methods are not well thought out in terms of interactions between the SDGs. This study developed an iteration forecasting model considering the interactions of SDGs and simulated the SDGs’ progress from 2021 to 2030 for 41 cities in the Yangtze River Delta under various sustainable development paths. The results indicated that the cities with the highest levels of sustainable development in the Yangtze River Delta would only achieve half of the goals by 2030 if they continued on their past paths. Learning from other cities resulted in a more significant improvement in the achievement of SDGs. Furthermore, the higher the development cost, the better the achievement of the goals. Compared to the other goals, SDG11 and SDG13 required higher development costs to be achieved. We optimized the development paths by taking development costs and goal attainment into account. The results showed that cities with high levels of economic development are more likely than cities with low levels of economic development to achieve SDG8 and SDG9 by 2030, while the opposite is true for SDG15. Full article

Singapore has committed to achieving net zero emissions by 2050, which requires the pursuit of multiple decarbonization pathways. ${\mathrm{CO}}_2$ utilization methods such as fuel production may provide a fast interim solution for carbon abatement. This paper evaluates the feasibility of green hydrogen-based synthetic fuel (synfuel) production as a method for utilizing captured ${\mathrm{CO}}_2$. We consider several scenarios: a baseline scenario with no changes, local production of synfuel with hydrogen imports, and overseas production of synfuel with ${\mathrm{CO}}_2$ exports. This paper aims to determine a ${\mathrm{CO}}_2$ price for synfuel production, evaluate the economic viability of local versus overseas production, and investigate the effect of different cost parameters on economic viability. Using the current literature, we estimate the associated production and transport costs under each scenario. We introduce a ${\mathrm{CO}}_2$ utilization price (CUP) that estimates the price of utilizing captured ${\mathrm{CO}}_2$ to produce synfuel, and an adjusted ${\mathrm{CO}}_2$ utilization price (CCUP) that takes into account the avoided emissions from crude oil-based fuel production. We find that overseas production is more economically viable compared to local production, with the best case CCUP bounds giving a range of 142–148 $/t${\mathrm{CO}}_2$ in 2050 if ${\mathrm{CO}}_2$ transport and fuel shipping costs are low. This is primarily due to the high cost of hydrogen feedstock, especially the transport cost, which can offset the combined costs of ${\mathrm{CO}}_2$ transport and fuel shipping. In general, we find that any increase in the hydrogen feedstock cost can significantly affect the CCUP for local production. Sensitivity analysis reveals that hydrogen transport cost has a significant impact on the viability of local production and if this cost is reduced significantly, local production can be cheaper than overseas production. The same is true if the economies of scale for local production is significantly better than overseas production. A significantly lower carbon capture cost can also the reduce the CCUP significantly. Full article

Although global food consumption costs more in terms of impact on human life than money is spent on it, health costs have not been consistently quantified or included in food prices to date. In this paper, a method to determine the external health costs of nutrition and dietetics is developed by employing the cost-of-illness (COI) and true cost accounting (TCA) approaches. This is done exemplarily for the reference country Germany. The results show that 601.50 € per capita and 50.38 billion € in total external health costs are incurred annually due to nutrition. Overall, most costs are accrued through excessive meat consumption (32.56% of costs), deficient whole grain intake (15.42% of costs), and insufficient uptake of legumes (10.19% of costs). Comparing the external health costs with the external environmental costs in Germany, it can be seen that of the total annual costs of around 153.86 billion €, 67.26% originate from environmental impacts and 32.74% from impacts on human life. In order to achieve the 17 Sustainable Development Goals and to increase family as well as public health, there is a need to internalise these external costs into actual food prices. Full article

With the increasing trend in the global average temperature, the UK’s water industry has committed to achieve Net Zero by 2030 and part of this includes cutting CH₄ emissions from sludge treatment facilities. Currently, emissions are estimated following the carbon accounting workbook guidelines and using default emission factors. However, this method might not be a true representation of emissions as these vary depending on many factors. The use of unmanned aerial vehicles (UAVs) has proved cost effective for environmental monitoring tasks requiring high spatial resolution information. Within the context of CH₄ emissions and in the last decade, the technology has been curtailed by sensor weight and size. Recent advances in sensor technology have enabled the development of a fit-for purpose UAV CH₄ sensor (U10) which uses Tuneable Diode Laser Absorption Spectroscopy. This study intends to develop a framework for CH₄ data collection strategies from sludge treatment centres using UAV-U10 technology and asset level CH₄ enhancement estimations based on geostatistical interpolation techniques and the mass balance approach. The framework presented here enables the characterization of spatial and temporal variations in CH₄ concentrations. It promotes asset level CH₄ enhancement estimation based on on-site measurements. Full article

Copper nitride (${\mathrm{Cu}}_3\mathrm{N}$), a metastable poly-crystalline semiconductor material with reasonably high stability at room temperature, is receiving much attention as a very promising next-generation, earth-abundant, thin film solar light absorber. Its non-toxicity, on the other hand, makes it a very attractive eco-friendly (greener from an environmental standpoint) semiconducting material. In the present investigation, ${\mathrm{Cu}}_3\mathrm{N}$ thin films were successfully grown by employing reactive radio-frequency magnetron sputtering at room temperature with an RF-power of 50 W, total working gas pressure of $0.5\mathrm{Pa}$, and partial nitrogen pressures of $0.8$ and $1.0$, respectively, onto glass substrates. We investigated how argon affected the optical properties of the thin films of Cu${}_3$N, with the aim of achieving a low-cost solar light absorber material with the essential characteristics that are needed to replace the more common silicon that is currently in present solar cells. Variable angle spectroscopic ellipsometry measurements were taken at three different angles, ${50}^{\circ }$, ${60}^{\circ }$, and ${70}^{\circ }$, to determine the two ellipsometric parameters psi, $\psi$, and delta, $\Delta$. The bulk planar ${\mathrm{Cu}}_3\mathrm{N}$ layer was characterized by a one-dimensional graded index model together with the combination of a Tauc–Lorentz oscillator, while a Bruggeman effective medium approximation model with a $50\%$ air void was adopted in order to account for the existing surface roughness layer. In addition, the optical properties, such as the energy band gap, refractive index, extinction coefficient, and absorption coefficient, were all accurately found to highlight the true potential of this particular material as a solar light absorber within a photovoltaic device. The direct and indirect band gap energies were precisely computed, and it was found that they fell within the useful energy ranges of $2.14$–$2.25$ eV and $1.45$–$1.71$ eV, respectively. The atomic structure, morphology, and chemical composition of the Cu${}_3$N thin films were analyzed using X-ray diffraction, atomic force microscopy, and energy-dispersive X-ray spectroscopy, respectively. The Cu${}_3$N thin layer thickness, profile texture, and surface topography of the ${\mathrm{Cu}}_3\mathrm{N}$ material were characterized using scanning electron microscopy. Full article

Background: Preterm labor and delivery remain a major problem in obstetrics accounting for perinatal morbidity and mortality. The challenge is to identify those with true preterm labor to avoid unnecessary hospital admissions. The fetal fibronectin (FFN) test is a strong predictor of preterm birth and can help identify women with true preterm labor. However, its cost-effectiveness as a strategy for triaging women with threatened preterm labor is still debatable. Objective: To evaluate the effect of FFN test implementation on hospital resources by reducing the admission rate of threatened preterm labor in a tertiary hospital, Latifa Hospital, UAE. Methods: A retrospective cohort study of singleton pregnancies between 24 and 34 weeks of gestation who attended Latifa Hospital in the period of September 2015–December 2016, complaining of threatened preterm labor after the availability of an FFN test, and a historical cohort study for those who attended with threatened preterm labor before the availability of an FFN test. Data analysis was performed using a Kruskal–Wallis test, Kaplan–Meier, Fischer exact chi-square and cost analysis. The significance was set at p-value < 0.05. Results: In total, 840 women met the inclusion criteria and were enrolled. The relative risk of FFN for delivery at term was 4.35 times higher among the negative-tested compared to preterm delivery (p-value < 0.001). A total of 134 (15.9%) women were unnecessarily admitted (FFN tested negative, delivered at term) which yielded $107,000 in extra costs. After the introduction of an FFN test, a 7% reduction of threatened preterm labor admissions was recorded. Full article