• Energy Research
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• 12. Responsible consumption close
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Financial liquidity and profitability are two critical phenomena present in the financial economy of a company, whose relations depend on each other and may course in different directions. At the same time, they are an example of the complexity of the problem, which demands a proper approach, allowing one to reconcile two opposing objectives of any enterprise, i.e., maximizing the benefits for the owners and minimizing the risk of losing financial liquidity. Until now, the relationship between liquidity and profitability has not been examined explicitly, using multidimensional methods in particular. Nevertheless, the links between profitability and financial liquidity maintenance ensure the sustainable development of enterprises in different branches. This paper formulates two aims: scientific and practical. The scientific one concerns adopting the canonical variate analysis method to visualize the differences and relationships between food industry companies regarding financial liquidity and profitability. The practical one relates to indicating the relationship between financial liquidity and profitability in different groups of food industry companies. To study the relationships between the selected groups of enterprises and describe them, the liquidity and profitability ratios were utilized, involving canonical variate analysis based on transformation by linear combination and singular value decomposition. The analysis found that the most important feature highlighting the group of the examined entities regarding financial liquidity was the cash conversion cycle. The research results showed the existence of multidirectional relationships between liquidity and profitability. The research indicates that they depend on indicators describing financial dependencies and the industries in which they operate. This led to a much deeper and broader interpretation of the assessment of the financial situation of companies to support their sustainable development.

The purpose of the article is to define the risk factors in cogeneration projects and to demonstrate that a lack of sufficient identification of risks in different phases affects project implementation. A theoretical study is conducted, which aims to identify risk factors in cogeneration projects, based on case studies of such projects in Poland. The study offers a view at CHP (combined heat and power) projects as extremely dependent on the external environment of the organisation. These projects are subject to many external regulations due to their environmental impact and dynamically changing technical aspects. The biggest technical errors occur at the planning and construction stages. The biggest economic and financial risks occur at the execution stage after 2% and 3% of additional design costs occur, respectively. The authors estimated the risks at different stages of the project and concluded that the total cost of failure in correct identification of the risks at the planning stage exceeded PLN 1.5 billion, which amounted to almost 60% of the total additional costs of materialised project risk. Consequently, the biggest challenges in the area of CHP project management at the planning stage are a thorough identification of risks, and the pricing and planning reactions to risk.

According to data from the International Energy Agency (IEA), in order to achieve net-zero CO2 emissions by 2050, approximately 306 million tonnes of green hydrogen (H2) must be produced annually [...]

The article aims to systematize the state of knowledge of and research on the inclusion of ESG (Environmental, Social, and Governance) risk in companies’ business models, with a special stress on energy sector companies. Many publications address incorporating ESG, but only some deal with it from the perspective of business models. This paper fills that gap. The methods of incorporating ESG risk into a sustainable business model, identified on the basis of the literature review, were verified based on the examples of three companies from the energy industry. A two-stage review of publications from the WoS and Scopus databases was carried out, considering a more comprehensive (sustainability) and a narrower (ESG risk) range of keywords, and the period from 2000 to 2022. The result showed that SMEs and large enterprises consider ESG risk in their risk management systems (ERMs), while small enterprises and start-ups do not. In Europe, Asia, and Australia, it is common to include ESG risk in an ERM, while it is rare in Latin America. In developing countries, companies in the service sector are more likely to include ESG risk in ERMs than those in the manufacturing sector. These findings may be useful for policymakers who wish to provide support and financial incentives for companies transforming their business models toward sustainability.

The aim of this study was to identify environmentally and socially sustainable behaviors and explore the role of mobile applications in encouraging them among young residents of Poland. The study involved a literature review and a survey carried out on a sample of 772 representatives of Generation Z (through the use of CAWI method). The collected material was subjected to quantitative and qualitative analyses involving factor analysis and statistical tests. The analysis of the obtained dataset shows that there is a significant difference between pro-environmental behaviors assigned to the following areas: (I) purchasing activity enhanced by visual identification, (II) sustainable consumption, (III) behavior stimulated by legal regulations and economic factors. The research revealed a statistically significant difference between the sustainable behaviors of men and women, and a slight difference between the behaviors of people from different places of residence and with different levels of income. It was also shown that respondents using the three analyzed mobile applications: Vinted (an online marketplace and community that allows its users to sell, buy, and swap new or secondhand items, mainly clothing and accessories), Veturilo (an app for users of city bike system) and GdzieWyrzucić (an app helping with waste sorting) rated their pro-environmental activities significantly higher in almost all areas covering socially and environmentally sustainable behaviors.

This article reviews the production capacity of Polish agriculture with respect to biomass used for energy production. The forecast production potential of agricultural biomass in Poland in 2020 includes three key areas: the expected consumption of renewable energy according to energy type, the energy potential of agriculture and barriers to the use of biomass. Studies have shown that in Poland, total energy consumption will significantly increase (over 10% by 2020). Growth of demand for renewable energy will primarily result from strong growth of demand for transport biofuels and electricity. In 2020, approximately 80% of final energy from renewable sources will come from biomass. More than three-quarters of the biomass will be generated from agriculture. In Poland, crops from 1.0 to 4.3 million ha can be used for energy production. The study shows changes in the structure of biomass use, and the analysis confirms the declining share of biomass for heat production and the increasing share of biomass for electricity and biofuels. The main obstacles to the continued use of agricultural biomass are a lack of local markets for biomass energy and poor financial support for energy crop production.

The article presents the developed technology for the comprehensive recycling of depleted, used or damaged photovoltaic (PV) cells made of crystalline silicon. The developed concepts of technology and the results of research on recycling were presented on silicon photovoltaic cells and modules. The sequence of steps and the type of procedures used are proposed. A thermal delamination method for used commercial photovoltaic modules has been developed to separate the materials. In addition, a recycling line was proposed along with the selection of machines and a holistic approach to project profitability based on a SWOT analysis. The presented semi-automatic installation enables recycling on a laboratory scale. The line was designed for the assumed capacity of 30 t/h. The total energy demand for the designed line was calculated, which showed that 16.49 kWh is needed to recycle 1 ton of photovoltaic laminates. Implementation of developed solutions on an industrial scale will allow to reduce production costs, mainly thanks to energy savings, which translates into less devastation of the natural environment and reduced material consumption. In addition, the implementation of the PV module recycling system will reduce and, consequently, eliminate a significant amount of used PV devices deposited in landfills. The content of the article gives a fresh and innovative look at the essence of photovoltaic panel recycling processes in terms of production benefits as well as financial and environmental benefits.

Most climatic changes are not just the result of human activity, but also of business models that harm the environment. An attempt to attain an ecological balance is an answer to the challenge posed by this situation. The combustion of liquid fuels results in the atmospheric emissions of pollutants, such as nitrogen oxides (NOx), sulfur dioxide and hydrocarbons. To reduce emissions of these pollutants and at the same time attain an ecological balance, specific modifiers are applied. This paper presents an analysis of the energy efficiency and ecological efficiency of fuel oil combustion in power plant boilers based on the results of tests carried out by the present authors, in which a Fe/Mg/Ce modifier was used. The tests were carried out for system capacities ranging from 1 to 5 MW. It was found that savings on fuel, which resulted from the implementation of a system for the control and supervision of power plant operation, were in the range of 4 to 6%, and those resulting from the use of the combustion modifier were from 2 to 4%. Moreover, it was found that the system designed to improve efficiency also provided the extra result of reducing CO2 emission and equivalent emission (SO2, NO2, and particulate matter).