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River deltas and estuaries are disproportionally-significant coastal landforms that are inhabited by nearly 600 M people globally. In recent history, rapid socio-economic development has dramatically changed many of the World's mega deltas, which have typically undergone agricultural intensification and expansion, land-use change, urbanization, water resources engineering and exploitation of natural resources. As a result, mega deltas have evolved into complex and potentially vulnerable socio-ecological systems with unique threats and coping capabilities. The goal of this research was to establish a holistic understanding of threats, resilience, and adaptation for four mega deltas of variable geography and levels of socio-economic development, namely the Mekong, Yellow River, Yangtze, and Rhine deltas. Compiling this kind of information is critical for managing and developing these complex coastal areas sustainably but is typically hindered by a lack of consistent quantitative data across the ecological, social and economic sectors. To overcome this limitation, we adopted a qualitative approach, where delta characteristics across all sectors were assessed through systematic expert surveys. This approach enabled us to generate a comparative assessment of threats, resilience, and resilience-strengthening adaptation across the four deltas. Our assessment provides novel insights into the various components that dominate the overall risk situation in each delta and, for the first time, illustrates how each of these components differ across the four mega deltas. As such, our findings can guide a more detailed, sector specific, risk assessment or assist in better targeting the implementation of risk mitigation and adaptation strategies.

Abstract This paper provides the first estimates of China's global developmental finance institutions in general and China's policy bank lending to foreign governments for energy in particular. According to the China Global Energy Finance database, between 2000 and 2017, China Development Bank (CDB) and China Export-Import Bank (CHEXIM) provided $225.75 billion in overseas energy development finance. We find that: China's ‘policy banks’ and funds have doubled the availability of global development finance –and hold more assets than the major Western-backed MDBs operating in developing countries. With the onset of a new family of funds and multilateral development banks co-financed by China, China is poised to be the largest development lender in the world as Western-backed MDBs appear stagnated in their ability to increase their capital bases. China's global energy portfolio is heavily exposed to country, macroeconomic, climate, and social risks, however. To mitigate such risks and meet the broader sustainable development challenge for the 21st Century, China's development finance will need to shift the composition of its global energy lending in a significant manner.

Abstract The ecological footprint is a measure of the resources necessary to produce the goods that an individual or population consumes. It is also used as a measure of sustainability, though evidence suggests that it falls short. The assumptions behind footprint calculations have been extensively criticized; I present here further evidence that it fails to satisfy simple economic principles because the basic assumptions are contradicted by both theory and historical data. Specifically, I argue that the footprint arbitrarily assumes both zero greenhouse gas emissions, which may not be ex ante optimal, and national boundaries, which makes extrapolating from the average ecological footprint problematic. The footprint also cannot take into account intensive production, and so comparisons to biocapacity are erroneous. Using only the assumptions of the footprint then, one could argue that the Earth can sustain greatly increased production, though there are important limitations that the footprint cannot address, such as land degradation. Finally, the lack of correlation between land degradation and the ecological footprint obscures the effects of a larger sustainability problem. Better measures of sustainability would address these issues directly.

Abstract In contrast to energy and precious metals commodities, relatively little is known about the volatility dynamics of base (or industrial) metals commodities. To address this deficiency, this paper employs a multivariate heterogeneous autoregressive (HAR) model to consider the volatility spillovers between the five of the most liquid and important non-ferrous metals contracts (aluminium, copper, lead, nickel, and zinc) traded on the London Metal Exchange using intraday data over the period June 2006–December 2012. This period encompasses both the surge in commodities prices associated with the burgeoning industrial demand of many emerging economies, especially China, resulting in market peaks in May 2007 and April 2008 and the subsequent negative reaction of base metals markets to the collapse of stock markets during the recent global financial crisis. The results show that the volatility series of other industrial metals appear to contain useful incremental information for future price volatility. However, the own dynamics are often sufficient for describing most future daily and weekly volatility, with the most pronounced volatility spillovers identified in the longer term. Combined together, the results in this study provide useful findings for exporter and importer countries dealing with the continuing volatility in these industrially important commodity markets.

In an idealised industrial ecosystem (IE), firms and organisations utilise each other's material and energy flows including wastes and by-products to reduce the system's virgin material and energy input as well as the waste and emission output from the system as a whole, and contribute to sustainable development (SD). IE complements the more conventional individual flow, product, process, organisation, individual actor or sector-focused environmental management approaches and tools with network or systems level approaches. The first research objective of this paper is to construct indicators for IE. The second task is to test the use of these indicators with "what if?" material and energy flow scenarios for the energy and waste system of Satakunta region in Finland including 28 municipalities. Using literature analysis as a source, we arrive at environmental indicators of carbon dioxide (CO2) equivalents, and at economic indicators of fuel, energy and waste management costs and revenues. The social indicators show the employment effects of the waste management system. The scenarios analyse the current situation (0-scenario) against alternative situations in the future. The future scenarios are developed according to the known and anticipated trends in international and national policy and legislation. The indicator application in the scenarios produces social, environmental and economic effects of waste management in four categories: direct negative, direct positive, indirect negative and indirect positive. Industrial ecosystem theory emphasises the utilisation of wastes as a resource with value alongside the objective of reducing waste. Therefore, the indirect positive effects of waste management are important, as well as the conventional focus of waste management, which has usually been on direct positive effects. The main difficulties in our argument are the system boundary definition, the qualitatively different nature of environmental, economic and social effects and indicators as well as the lack of qualitative or interview data on the preferences and interests of the actors involved.

Our paper analyzes the sources of labor productivity variation in U.S. bituminous coal surface mining from 1960 to 1976. The coal mining industry was among the first to experience a prolonged decline in labor productivity in the post-World War II period. In surface mining nationally, labor productivity in 1977 was 26.6 tons per worker-day, or 28 percent less than the peak of 36.7 tons per worker-day achieved in 1973. Moreover, in several major coal-producing states, the decline began much earlier and was more dramatic. For example, in West Virginia (the first state to experience declining productivity) the loss in productivity between 1965, the year in which productivity in the state peaked, and 1976 was nearly 52 percent. Eastern Kentucky experienced an even larger drop of 56 percent between 1967 and 1976. It was only the expansion of surface mining to western states in the 1970s that delayed the appearance of a national decline in productivity until the early 1970s. The industry has thus foreshadowed the labor productivity declines that subsequently occurred in other industries.

AbstractMany developing countries are facing the difficulty of choosing between economic growth and energy conservation and emission reduction (ECER). China has strengthened the implementation of ECER by setting environmental accountability as the development goal of local governments, hoping to have better governance effects. To evaluate the actual intervention effect of this approach, this paper constructs panel data covering 46 countries from 1995 to 2014 and uses the difference-in-differences (DID) method and the composite control method to quantitatively analyse the policy effect. The results show that China can effectively curb energy consumption and carbon emission intensity per unit of GDP by adding ECER targets to the government’s five-year plan, which has significant effects on ECER. Furthermore, we use an intermediary mechanism to test and identify low-carbon alternatives and an ECER promotion mechanism for technological advancement. The conclusion shows that economic development is compatible with low carbon and energy consumption. Combined with China’s long-term goals for ECER, it can be considered that on the road to achieving carbon peaking and carbon neutrality in the future, the economy and tertiary industry should be rationally developed, the degree of urbanization should receive more attention, and the proportion of thermal power generation should be reduced.

This paper constitutes a first analysis on stock returns and stock return volatility of energy corporations from the Eurozone. According to our results, the gas market does not play a role for the pricing of Eurozone energy stocks. However, changes in the Euro to U.S. Dollar exchange rate as well as developments at the money and especially at the oil market strongly affect returns of the energy stock portfolios analyzed. While oil price hikes negatively impact on stock returns of European utilities, they lead to an appreciation of oil and gas stocks. Most importantly, we show that oil market volatility negatively affects European oil and gas stocks. In contrast, energy stock volatility is not driven by volatility of the resource market, but only by its own dynamics.

The biogas from waste has emerged as a realistic and reliable renewable energy proposition and can deliver social-economic benefits when integrated with local communities. In the last decade, the biogas sector in European countries has seen unprecedented growth due to favorable policy supports and perceived social-economic benefits. Among different biogas producing schemes, waste to biogas using anaerobic digestion is considered most environment friendly due to minimum carbon leakage and positive waste resource recycling impact. Many countries, including the UK, envision creating a circular economy utilizing Biogas from Waste (BfW) recycling potential. This paper aims to analyze the state of the UK’s BfW scheme through the lens of circular economy and discern areas that need attention to usher BfW potential in supporting a circular economy. The paper also discussed key challenges and barriers to create a local circular economy using the BfW scheme. Based on the analysis, it is observed that the BfW scheme in the UK is currently impeded due to lack cross-sectoral policy coherence, and far from contributing to a circular economy. Additionally, the UK's waste to energy concept is concentrated around incinerator-based systems without much attention on improving resource efficiency and waste recycling. This paper makes three recommendations to improve prospects of the BfW scheme in the UK (1) decentralized approach in the BfW scheme development, (2) considering bio-waste and digestate as value streams, and (3) creating a policy cohesiveness across multiple departments.