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Environmental pollution liability insurance is becoming increasingly important for China to achieve its emission reduction targets. Insurance pricing is a crucial factor restricting the market share of environment pollution liability insurance, from the perspective of the Black–Scholes pricing model, which in turn has influenced the solvency of insurance companies in China. Firstly, this study analyzes the problems existing in compulsory liability insurance for environmental pollution in China. It proceeds with analyzing the price of compulsory environmental pollution liability insurance using the Black–Scholes pricing model, and derives a high premium insurance rate of 2.44%. Moreover, it performs a multivariate regression analysis using the asset and liability data, taken from the annual report, to identify three key factors affecting the solvency adequacy ratio, namely, capital debt ratio, reflecting the company asset structure; net interest rate on assets, reflecting the asset scale with actual solvency; and claim ratio, reflecting the business quality. Based on the results of regression analysis and robustness test for the China Insurance Clauses (CIC) company, People’s Insurance Company of China (PICC), and Asia-Pacific Property & Casualty Insurance (API) company, it is shown that the effect of total asset, total debt, capital debt ratio, claim ratio, and net interest rate on assets on the solvency adequacy ratio is significant, with respect to the size of the coefficients. Based on the Black–Scholes pricing model found in the previous cycle of liability insurance, and keeping in view the existing problems of environmental pollution liability insurance expenditure, this paper presents suggestions that are conducive to improving the solvency of insurance companies in China.

Environmental pollution liability insurance is becoming increasingly important for China to achieve its emission reduction targets. Insurance pricing is a crucial factor restricting the market share of environment pollution liability insurance, from the perspective of the Black–Scholes pricing model, which in turn has influenced the solvency of insurance companies in China. Firstly, this study analyzes the problems existing in compulsory liability insurance for environmental pollution in China. It proceeds with analyzing the price of compulsory environmental pollution liability insurance using the Black–Scholes pricing model, and derives a high premium insurance rate of 2.44%. Moreover, it performs a multivariate regression analysis using the asset and liability data, taken from the annual report, to identify three key factors affecting the solvency adequacy ratio, namely, capital debt ratio, reflecting the company asset structure; net interest rate on assets, reflecting the asset scale with actual solvency; and claim ratio, reflecting the business quality. Based on the results of regression analysis and robustness test for the China Insurance Clauses (CIC) company, People’s Insurance Company of China (PICC), and Asia-Pacific Property & Casualty Insurance (API) company, it is shown that the effect of total asset, total debt, capital debt ratio, claim ratio, and net interest rate on assets on the solvency adequacy ratio is significant, with respect to the size of the coefficients. Based on the Black–Scholes pricing model found in the previous cycle of liability insurance, and keeping in view the existing problems of environmental pollution liability insurance expenditure, this paper presents suggestions that are conducive to improving the solvency of insurance companies in China.

In the light of The Paris Agreement (COP 21), global leaders reached a consensus to curtail the increase in global temperature up to 2.0 °C ideally 1.5 °C pre-industrial level. Likewise, it has become a pathway to accomplish long-term goals of achieving carbon neutrality. In this regard, this paper aims to explore the role of green process innovation and environmental orientation toward environmental performance for achieving the long-term goal of carbon neutrality. In addition, this paper also discovers a mediating role of green competitive advantage in said context. Using data from a survey among managers of equipment manufacturing sector, the study employed structural equation modeling technique and found that green process innovation, environmental orientation and green competitive advantage significantly influence environmental performance. Subsequently, mediation analysis indicated that green competitive advantage partially mediates the relation from green process innovation and environmental orientation to environmental performance. In light of the carbon neutrality targets, the study highlight that improving environmental performance through green process innovation and environmental orientation can be a way-forward for manufacturing sector to play its role to achieve carbon neutrality. The study concludes with theoretical and practical implications.

In the light of The Paris Agreement (COP 21), global leaders reached a consensus to curtail the increase in global temperature up to 2.0 °C ideally 1.5 °C pre-industrial level. Likewise, it has become a pathway to accomplish long-term goals of achieving carbon neutrality. In this regard, this paper aims to explore the role of green process innovation and environmental orientation toward environmental performance for achieving the long-term goal of carbon neutrality. In addition, this paper also discovers a mediating role of green competitive advantage in said context. Using data from a survey among managers of equipment manufacturing sector, the study employed structural equation modeling technique and found that green process innovation, environmental orientation and green competitive advantage significantly influence environmental performance. Subsequently, mediation analysis indicated that green competitive advantage partially mediates the relation from green process innovation and environmental orientation to environmental performance. In light of the carbon neutrality targets, the study highlight that improving environmental performance through green process innovation and environmental orientation can be a way-forward for manufacturing sector to play its role to achieve carbon neutrality. The study concludes with theoretical and practical implications.

The paper deals with the modeling and comparison of the performance of photovoltaic (PV) generators with panels from different technologies. The generators are part of an experimental platform at the Technical University of Sofia and operate in real weather conditions. The modeling of the PV modules is based on the Durisch's model using two approaches. The comparison of the models with measured data shows good agreement. We observe that a limited number of characteristic days can be used for the modeling of the PV panels. The inverter's model is based on the manufacturer data. The comparison with the measured data shows good coincidence. Finally the combination of modules' and inverter models is compared with experimental data and we observe a good level of overlap.

The paper deals with the modeling and comparison of the performance of photovoltaic (PV) generators with panels from different technologies. The generators are part of an experimental platform at the Technical University of Sofia and operate in real weather conditions. The modeling of the PV modules is based on the Durisch's model using two approaches. The comparison of the models with measured data shows good agreement. We observe that a limited number of characteristic days can be used for the modeling of the PV panels. The inverter's model is based on the manufacturer data. The comparison with the measured data shows good coincidence. Finally the combination of modules' and inverter models is compared with experimental data and we observe a good level of overlap.

In order to take full advantage of distributed generators, an evolution of the classical power system organization and management is also necessary. An aggregator of a residential urban electrical network can be considered by the distribution system operator as a stakeholder, which is able to control a cluster of local generators and loads with technical constraints for the connection with the remaining distribution grid and commercial contracts with outer electrical producers. This paper is focused on the design of the microgrid central energy management system which relies on a day-ahead operational planning and an online adjustment procedure during the operation. A dynamic programming-based algorithm is derived to solve the unit commitment problem with a multiobjective function in order to reduce the economic cost and CO 2 equivalent emissions. The proposed energy management system is implemented into a supervisory control and data acquisition (SCADA) and tested by using a hardware-in-the-loop simulation of the urban network. Economic and environmental gains are evaluated.

In order to take full advantage of distributed generators, an evolution of the classical power system organization and management is also necessary. An aggregator of a residential urban electrical network can be considered by the distribution system operator as a stakeholder, which is able to control a cluster of local generators and loads with technical constraints for the connection with the remaining distribution grid and commercial contracts with outer electrical producers. This paper is focused on the design of the microgrid central energy management system which relies on a day-ahead operational planning and an online adjustment procedure during the operation. A dynamic programming-based algorithm is derived to solve the unit commitment problem with a multiobjective function in order to reduce the economic cost and CO 2 equivalent emissions. The proposed energy management system is implemented into a supervisory control and data acquisition (SCADA) and tested by using a hardware-in-the-loop simulation of the urban network. Economic and environmental gains are evaluated.