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Abstract The main hindrances to the large-scale development of renewable-energy projects are the lack of bankability and the inability to align investments and investors with suitable financial instruments or robust policy measures. To illustrate a bankable project, this paper presents a research-based case study on the installation of solar photovoltaic panels on the rooftops of 195 trains of the Indian Railways. Detailed information on the annual running hours, exposure to sunlight, efficiency of solar photovoltaic generation and electrical power demands of each rail coach is considered to conduct a quantitative measure of the tentative amount of fossil fuel savings. The purpose is to provide insight into the types of renewable-energy projects that can be highly attractive to financial institutions and promoters due to their lucrative internal return on investment. As seen in this case study, there are annual savings in diesel of 12 323 088 litres and a CO2 reduction of 32 755 tonnes, with return on investment of 1.3 years. Furthermore, this study conducts a comprehensive analysis of the limitations of existing renewable-energy project financing mechanisms in India. Subsequently, three policy measures are recommended to develop a robust financial mechanism that can effectively meet the needs of investors and investors. These measures include increasing equity injection through a buy-and-hold strategy, providing direct tax benefits to promoters and financing through real-estate investment trusts. The findings are highly relevant to address the challenges associated with bridging the financial gap between access to finance and capital investment in the renewable-energy sector, especially for Asian countries.

AbstractClimate change poses new and unique challenges that threaten lives and livelihoods. Given the increasing risks and looming uncertainty of climate change, increasing attention has been directed towards adaptation, or the strategies that enable humanity to persist and thrive through climate change the best it can. Though climate change is a global problem often discussed at the national scale, urban areas are increasingly seen as having a distinct role, and distinctive motivation and capacity, for adaptation. The 12 articles in this special issue explore ways of understanding and addressing climate change impacts on urban areas. Together they reveal young but rapidly growing scholarship on how to measure, and then overcome, challenges of climate change. Two key themes emerge in this issue: 1) that we must identify and then overcome current barriers to urban adaptation and 2) frameworks/metrics are necessary to identify and track adaptation progress in urban settings. Both of these themes point to the power of indicators and other quantitative information to inform priorities and illuminate the pathway forward for adaptation. As climate change is an entirely new challenge, careful measurement that enables investment by private and public parties is necessary to provide efficient outcomes that benefit the greatest number of people.

AbstractBioenergy projects can lead to direct and indirect land use change (LUC), which can substantially affect greenhouse gas balances with both beneficial and adverse outcomes for bioenergy's contribution to climate change mitigation. The causes behind LUC are multiple, complex, interlinked, and change over time. This makes quantification uncertain and sensitive to many factors that can develop in different directions—including land use productivity, trade patterns, prices and elasticities, and use of by‐products associated with biofuels production. Quantifications reported so far vary substantially and do not support the ranking of bioenergy options with regard to LUC and associated emissions. There are however several options for mitigating these emissions, which can be implemented despite the uncertainties. Long‐rotation forest management is associated with carbon emissions and sequestration that are not in temporal balance with each other and this leads to mitigation trade‐offs between biomass extraction for energy use and the alternative to leave the biomass in the forest. Bioenergy's contribution to climate change mitigation needs to reflect a balance between near‐term targets and the long‐term objective to hold the increase in global temperature below 2°C (Copenhagen Accord). Although emissions from LUC can be significant in some circumstances, the reality of such emissions is not sufficient reason to exclude bioenergy from the list of worthwhile technologies for climate change mitigation. Policy measures to minimize the negative impacts of LUC should be based on a holistic perspective recognizing the multiple drivers and effects of LUC.This article is categorized under: Bioenergy > Economics and Policy Bioenergy > Climate and Environment

Recycled polylactic acid (PLAr) was reinforced with treated nanocellulosic hemp fibers for biocomposite fabrication. Cellulosic fibers were extracted from hemp fibers chemically and treated enzymatically. Treated nanocellulosic fibers (NCF) were analyzed by Fourier-transform infrared spectroscopy, X-ray diffraction, and scanning electron microscopy. Biocomposite fabrication was done with PLAr and three concentrations of treated NCF (0.1%, 0.25%, and 1% (v/v)) and then studied for thermal stability and mechanical properties. Increased thermal stability was observed with increasing NCF concentrations. The highest value for Young’s modulus was for PLAr + 0.25% (v/v) NCF (250.28 ± 5.47 MPa), which was significantly increased compared to PLAr (p = 0.022). There was a significant decrease in the tensile stress at break point for PLAr + 0.25% (v/v) NCF and PLAr + 1% (v/v) NCF as compared to control (p = 0.006 and 0.002, respectively). No significant difference was observed between treatments for tensile stress at yield.

With the aim to fully exploit the by-products obtained after the industrial extraction of starch from sweet potatoes, a cascading approach was developed to extract high-value molecules, such as proteins and pectins, and to valorize the solid fraction, rich in starch and fibrous components. This fraction was used to prepare new biocomposites designed for food packaging applications. The sweet potato residue was added to poly(3-hydroxybutyrate-co-3-hydroxyvalerate) in various amounts up to 40 wt % by melt mixing, without any previous treatment. The composites are semicrystalline materials, characterized by thermal stability up to 260 °C. For the composites containing up to 10 wt % of residue, the tensile strength remains over 30 MPa and the strain stays over 3.2%. A homogeneous dispersion of the sweet potato waste into the bio-polymeric matrix was achieved but, despite the presence of hydrogen bond interactions between the components, a poor interfacial adhesion was detected. Considering the significant percentage of sweet potato waste used, the biocomposites obtained show a low economic and environmental impact, resulting in an interesting bio-alternative to the materials commonly used in the packaging industry. Thus, according to the principles of a circular economy, the preparation of the biocomposites closes the loop of the complete valorization of sweet potato products and by-products.

AbstractThis study analyzes oil price exposure of the oil–gas sector stock returns for the fragile five countries based on a multi-factor asset pricing model using daily data from 29 May 1996 to 27 January 2020. The endogenous structural break test suggests the presence of serious parameter instabilities due to fluctuations in the oil and stock markets over the period under study. Moreover, the time-varying estimates indicate that the oil–gas sectors of these countries are riskier than the overall stock market. The results further suggest that, except for Indonesia, oil prices have a positive impact on the sectoral returns of all markets, whereas the impact of the exchange rates on the oil–gas sector returns varies across time and countries.

Points out that sustainability as such does not provide a clearcut guide to policy. First one has to decide what is to be sustained. If this is agreed, it must be in an operational from. However, difficulties may still emerge since opinions may differ about how to achieve. This is illustrated by differences in the views of economists about how sustainable development is to be achieved. Orthodox economists stress the importance of the accumulation of man-made capital to achieve this end whereas neo-Malthusians stress the importance of conserving natural resource and environmental capital. Both take an anthropocentric point of view. For political reasons the neo-Malthusian has had little support but it may eventually turn out to be correct. Economics is concerned with reducing economic scarcity and economists have traditionally suggested four main ways of doing this of which economic growth is one. However, neo-Malthusian economists believe that this may not be a sustainable strategy – it may result in future poverty. It should be noted that economic systems are embedded in social and natural systems and depend on these. Economic sustainability depends on the sustainability of these other systems. So from this point of view, it is just one of several bottom lines. Values must be considered in relation to sustainability. Economics is completely anthropocentric in its approach. Therefore, economic approaches to conservation and sustainability can be at odds with the values of deep ecologists or those willing to accord rights to other sentient beings or ecosystems independent of human wishes, or those who want to make use of value judgments other than those based on the measuring rod of money. Consequently economics evaluation is sometimes ineffective in resolving social conflict, including conflict about what should be sustained. As a rule economics alone should not be the final arbiter of social decisions. It is a part (often an important part) of the social evaluation process but not the bottom line, or just one of many lines.