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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.

The levels of production diseases (PD) and the cow replacement rate are high in dairy farming. They indicate excessive production demands on the cow and a poor state of animal welfare. This is the subject of increasing public debate. The purpose of this study was to assess the effect of production diseases on the economic sustainability of dairy farms. The contributions of individual culled cows to the farm’s economic performance were calculated, based on milk recording and accounting data from 32 farms in Germany. Cows were identified as ‘profit cows’ when they reached their individual ‘break-even point’. Data from milk recordings (yield and indicators for PD) were used to cluster farms by means of a principal component and a cluster analysis. The analysis revealed five clusters of farms. The average proportion of profit cows was 57.5%, 55.6%, 44.1%, 29.4% and 19.5%. Clusters characterized by a high proportion of cows with metabolic problems and high culling and mortality rates had lower proportions of profit cows, somewhat irrespective of the average milk-yield per cow. Changing the perception of PD from considering it as collateral damage to a threat to the farms’ economic viability might foster change processes to reduce production diseases.

Agricultural land abandonment due to biophysical and socioeconomic constraints is increasing across Europe. Meanwhile there is also an increase in bioenergy demand. This study assessed woody crop performance on several relevant types of marginal agricultural land in Europe, based on field experiments in Latvia, Spain and Ukraine. In Latvia, hybrid aspen was more productive than birch and alder species, and after eight years produced 4.8 Mg ha−1 y−1 on stony soil with sandy loam texture, when best clone and treatment combination was selected. In Spain, Siberian elm produced up to 7.1 Mg ha−1 y−1 on stony, sandy soil with low organic carbon content after three triennial rotations. In Ukraine, willow plantations produced a maximum of 10.8 Mg ha−1 y−1 on a soil with low soil organic carbon after second triennial rotation. The productivity was higher when management practices were optimized specifically to address the limiting factors of a site. Longer rotations and lower biomass yields compared to high-value land can be expected when woody crops are grown on similar marginal agricultural land shown in this study. Future studies should start here and investigate to what extent woody crops can contribute to rural development under these conditions.

Access to reliable and affordable energy is vital for sustainable development. In the off-grid areas of developing countries, decentralized energy solutions have received increasing attention due to their contributions to reducing poverty. However, most of the rural population in many developing countries still has little or no access to modern energy technologies. This paper assesses the factors that determine the successes and failures of decentralized energy solutions based on local harmonized case studies from heterogeneous contexts from Asia, sub-Saharan Africa, and South America. The case studies were analyzed through the coupled lenses of energy transition and the Water–Energy–Food Security (WEF) Nexus. The findings indicate that access to modern decentralized energy solutions has not resulted in complete energy transitions due to various tradeoffs with the other domains of the WEF Nexus. On the other hand, the case studies point at the potential for improvements in food security, incomes, health, the empowerment of women, and resource conservation when synergies between decentralized energy solutions and other components of the WEF Nexus are present.

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.

Increasing heat-stress conditions, rising evaporative demand and shifting rainfall patterns may have multifaceted impacts on Cambodia's agricultural systems, including vegetable production. Concurrently, domestic vegetable supply is highly seasonal and inadequate to meet the domestic food demand, which consequently poses risks to food security locally, particularly in rural areas. This study assesses the impact of climate change on the yields and crop water productivity (CWP) of tomato, pak choi and yard-long bean cultivated year-round under different irrigated conditions (drip, furrow and net irrigation) in Siem Reap, Cambodia. The findings of this study show a similar annual precipitation decline (-23%) when comparing the 2017-2040 and 2070-2099 periods for both Representative Concentration Pathways (RCPs 4.5 and 8.5), though with significant seasonal differences between the two climate scenarios. Increasing water and heat-stress conditions are expected to have adverse impacts on tomato plants compared to pak choi and yard-long bean, which have a much higher heat tolerance. Differing yield trends are expected depending on the transplanting/sowing date, irrigation method and RCP. In tomato, for example, a -55% yield loss is projected by the end-century (2070-2099) when transplanting in January, whereas a + 37% yield increase is expected between November and December over the same period. In addition, pak choi yield enhancements of up to +30% are projected if sowing in May under RCP 8.5 for both drip and net irrigation conditions. Similarly, higher yard-long bean yields are simulated under RCP 8.5 (+29%) compared to RCP 4.5 (+11%) for the average of all sowing dates (January to December) and irrigation methods (drip, furrow and net irrigation). In sum, the findings of this work are relevant for evidence-based decision-making and the development of projects, policies and programmes increasingly informed by simulation results from bundling climate-crop approaches to transform agriculture in response to climate change.

Abstract So far, organizations had no authoritative guidance on circular economy (CE) principles, strategies, implementation, and monitoring. Consequentially, the British Standards Institution recently launched a new standard “BS 8001:2017 – Framework for implementing the principles of the circular economy in organizations”. BS 8001:2017 tries to reconcile the far-reaching ambitions of the CE with established business routines. The standard contains a comprehensive list of CE terms and definitions, a set of general CE principles, a flexible management framework for implementing CE strategies in organizations, and a detailed description of economic, environmental, design, marketing, and legal issues related to the CE. The guidance on monitoring CE strategy implementation, however, remains vague. The standard stipulates that organizations are solely responsible for choosing appropriate CE indicators. Its authors do not elaborate on the links between CE strategy monitoring and the relevant and already standardized quantitative tools life cycle assessment (LCA) and material flow cost accounting (MFCA). Here a general system definition for deriving CE indicators is proposed. Based on the system definition and the indicator literature a dashboard of new and established quantitative indicators for CE strategy assessment in organizations is then compiled. The dashboard indicators are mostly based on material flow analysis (MFA), MFCA, and LCA. Steel cycle data are used to illustrate potential core CE indicators, notably, the residence time of a material in the techno-sphere (currently 250–300 years for steel). Moreover, organizations need to monitor their contribution to in-use-stock growth, a central driver of resource depletion and hindrance to closing material cycles.