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  • Energy Research
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  • 12. Responsible consumption
  • 2. Zero hunger

  • image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Authors: Gomezgil Yaspik, Vianney;

    In recent decades, many societal changes have unfolded, including population ageing, reconfigurations of household structures, labour market transformation, and a secular deceleration of economic growth. These shifts pose considerable challenges to preexisting welfare states, particularly to the efficacy of countries’ pension systems. This dissertation examines the context and trajectory of pension reforms in Mexico, the United Kingdom, and the United States. Its contribution is to ascertain the viability and political feasibility of reforms that enhance the financial sustainability of their pension systems, while maintaining adequate income and coverage levels. The dissertation builds on political economy approaches and on the institutionalist literature, which highlight how the role of interest groups and structure of institutions and political systems shape policy outcomes. The frameworks of blame avoidance and credit-claiming are also considered, to provide a comprehensive analysis of the complex dynamics surrounding pension systems and reform efforts. This dissertation uses a mixed-methods approach – including public opinion surveys of 3,000+ individuals, semi-structured elite interviews, historical document analyses, and specialized fiscal and actuarial projections of selected pension reforms in the three selected countries. It addresses three core research questions: 1) What is the current context for pension reform in Mexico, the United Kingdom, and the United States given their histories? 2) Is the necessary (for achieving specific minimum levels of sustainability, adequacy, and coverage) pension reform politically feasible? 3) How do the characteristics of each reform affect its political feasibility? Corollary: The modification of which channel (benefits, contributions, retirement age) is perceived as more politically feasible for diverse stakeholders? The methodology chosen provides a timely picture of the context surrounding potential pension reforms in the three case studies. In Mexico, credit-claiming and the interests of private stakeholders explain the success of recent pension reforms, and partisan politics are the key determinants for future fiscal changes. For the United Kingdom, the institutionalist literature helps explain the reasons for the relatively easier reform avenues; the most politically feasible reforms are those in the private sector, while the housing market is of key importance for pensions. In the United States, the institutionalist literature and the framework of blame avoidance also help explain the current legislative gridlock and the reasons why no major reform has been enacted for decades. For Mexico and the United Kingdom there exist politically feasible reforms, notably a modification of the retirement age channel, that can increase the system’s sustainability while maintaining income adequacy and coverage; whereas based on the current context of extreme polarisation and legislative gridlock, there do not seem to exist politically feasible pension reforms that preserve the structure of Social Security in the United States. The dissertation brings the lens of political feasibility to bear on a previously technical literature on the structure of the pension systems in the three countries, and thus on the feasibility of reform to deliver financial sustainability, adequacy of retirement incomes, and adequate coverage of the old age population. It identifies the feasible routes for reform in Mexico and the United Kingdom, but concludes that the political economy context the United States has reached rules out feasible reforms of its current pension structures.

    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Apolloarrow_drop_down
    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
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      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Apolloarrow_drop_down
      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
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  • image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Authors: Smith, Collin;

    Ammonia has been responsible for feeding population growth in the 20th century through synthetic fertilizer, and is poised to become the preferred energy storage medium for a society powered by renewable electricity in the 21st century. However, conventional brown ammonia production through the Haber-Bosch process is optimized for utilization of centralized and steady energy supply from fossil-fuels. When shifting to distributed and intermittent energy supply through wind and solar energy, a re-optimization is required for a low-capital and flexible green ammonia production processes. This thesis re-designs and Haber-Bosch process by targeting the integration of reaction and separation in a single process vessel at low pressures, thereby achieving the simplification and down-scaling of the high pressure recycle loop of the Haber-Bosch process. Materials are developed for this purpose, the feasibility of integration is demonstrated, and mathematical modeling is utilized for assessing the application of the single-vessel process to a range of renewable energy sources in comparison to competing ammonia production processes. Herein, a catalyst with low-temperature (< 350°C) and high-conversion (i.e. near equilibrium) activity is developed using ruthenium nanoparticles as the active metal supported on ceria and promoted with cesium to mitigate hydrogen and ammonia inhibition, respectively. This catalyst is compared to commercial iron-based catalyst from the perspective of the final application. Concurrently, a high-temperature (> 300°C) manganese chloride absorbent is developed that resists decomposition and is stable when supported on silica. These catalyst and absorbent are integrated in a layered reactor configuration to demonstrate the feasibility of the integrated process by exceeding single-pass reaction equilibrium. Mathematical modelling of ammonia production processes illustrates that at small-scales (< 1 t day-1) the single-vessel process is optimal compared to the Haber-Bosch process due to its modular design. In addition, it can achieve simpler ramping because the Haber-Bosch process is constrained by heat-integration in the recycle loop and the potential for runaway reaction. For final application, the pairing of ammonia production processes with examples of intermittent solar and wind sources demonstrates that the flexibility of the production process is essential when considering non-ideal sources of energy with a long-term (e.g. seasonal) oscillations. Flexible ammonia production also expands the economic usage of ammonia as an energy storage vector from the seasonal to the weekly time-scale, with advantage compared to batteries or hydrogen. The work of this thesis provides a framework for advancing the electrification of the chemical industry given the novel constrains of intermittent and distributed renewable energy. A systems level approach is applied from the ground up, starting from material design and progressing to optimized process design and application.

    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Apolloarrow_drop_down
    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Apollo
    Thesis . 2022
    Data sources: Datacite
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      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Apolloarrow_drop_down
      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
      Apollo
      Thesis . 2022
      Data sources: Datacite
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  • image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Authors: Bhattacharjee, Subhajit;

    The aggravating global problems of energy crisis, rising atmospheric greenhouse gas concentrations and accumulation of persistent waste have attracted the attention of scientists, policy-makers and global organisations to come up with effective and expeditious solutions to address these challenges. In this context, the development of sustainable technologies driven by renewable energy sources for the production of clean fuels and commodity chemicals from diverse waste feedstocks is an appealing approach towards creating a circular economy. Over the years, semiconductor photocatalysts based on TiO₂, CdS, carbon-nitrides (CNx) and carbon dots (CDs) have been widely used for the photocatalytic reforming (PC reforming) of pre-treated waste substrates to organic products, accompanied with clean hydrogen (H₂) generation. However, these conventional solar-driven processes suffer from major drawbacks such as low production rates, poor product selectivity, CO₂ release, challenging process and catalyst optimisation, and harsh waste pre-treatment conditions, which limit their commercial applicability. These challenges are tackled in this thesis with the introduction of new and efficient photoelectrochemical (PEC) and chemoenzymatic processes for reforming a diverse range of waste feedstocks to sustainable fuels. Solar-driven PEC reforming based on halide perovskite light-absorber is first developed as an attractive alternative to PC reforming. The PEC systems consist of a perovskite|Pt photocathode for clean H₂ production and a Cu-Pd alloy anode for reforming diverse waste streams, including pre-treated cellulosic biomass, polyethylene terephthalate (PET) plastics, and industrial by-product glycerol into industrially-relevant, value-added chemicals (gluconic acid, glycolic acid and glyceric acid) without any externally applied bias or voltage. Additionally, the single light-absorber PEC systems can also convert the airborne waste stream and greenhouse gas CO₂ to diverse products with the simultaneous reforming of PET plastics with no applied voltage. The perovskite-based photocathode enables the integration of different CO₂ reduction catalysts such as a molecular cobalt porphyrin, a Cu-In alloy and formate dehydrogenase enzyme, which produce CO, syngas and formate, respectively. The versatile PEC systems, which can be assembled in either a ‘two-compartment’ or standalone ‘artificial leaf’ configurations achieve 60‒90% oxidation product selectivity (with no over-oxidation) and >100 µmol cm‾² h‾¹ product formation rates, corresponding to 10²‒10⁴ times higher activity than conventional PC reforming systems. In addition to developing PEC platforms, this thesis also explores avenues for circumventing the harsh alkaline pre-treatment strategies (pH >13, 60‒80 ºC) adopted for photoreforming waste substrates. For this purpose, a chemoenzymatic pathway is introduced whereby PET and polycaprolactone plastics were deconstructed using functional enzymes under benign conditions (pH 6‒8, 37‒65 ºC), followed by PC reforming using Pt loaded TiO₂ (TiO₂|Pt) or Ni₂P loaded carbon-nitride (CNx|Ni₂P) photocatalysts. The chemoenzymatic reforming process demonstrates versatility in upcycling polyester films and nanoplastics for H₂ production at high yields reaching ∼10³‒10⁴ µmol gsub‾¹ and activities at >500 µmol gcat‾¹ h‾¹. The utilisation of enzyme pre-treated plastics also allowed the coupling of plastic reforming with photocatalytic CO₂-to-syngas conversion using a phosphonated cobalt bis(terpyridine) co-catalyst immobilised on TiO₂ (TiO₂|CotpyP). Finally, moving beyond solar-driven systems, a bio-electrocatalytic flow process is demonstrated for the conversion of microbe pre-treated food waste to ethylene (an important feedstock in the chemical industry) on graphitic carbon electrodes via succinic acid as the central intermediate. In conclusion, with its focus on improving efficiencies, achieving selective product formation, building versatile platforms, diversifying substrate and product scope, and reducing carbon footprint and economic strain, this thesis aims to bring sustainable waste-to-fuel technologies a step closer to commercial implementation.

    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Apolloarrow_drop_down
    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
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      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Apolloarrow_drop_down
      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
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  • image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao

    In many industries, an increasing number of firm owners tie managers’ incentives to sustainability investments. Positive rewards directly increase a manager's total pay when that manager makes sustainability investments, whereas negative rewards directly decrease a manager's pay when those investments are made. Strategic incentive design literature posits that such organizational choices also affect the decisions of a firm's competitors. This paper uses a game-theoretic framework to analyze the effects of sustainability incentives in a setting with two competing firms. In contrast to the existing literature, in the current paper sustainability investments have a demand-enhancing effect and can increase or decrease the unit cost of production, making the current framework more in line with industrial practice. The results show that a firm invests in sustainability only if the demand-enhancing effects outweigh the cost-increasing effects. More importantly, positively rewarding managers for sustainability investments is done in equilibrium only if the innovation capability of the firm is sufficiently high. However, in terms of profits, those positive rewards lead to a prisoner's dilemma. When innovation capability is lower, firm owners use negative rewards and raise their profits. Another finding is that rival firms that cooperate in determining their sustainability incentives increase their profits but do so using negative rewards. These results, which have not been reported in the literature, point to some critical trade-offs in terms of sustainability investments and firm profits when sustainability incentives are considered and are both managerially and academically relevant.

    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Journal of Cleaner P...arrow_drop_down
    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Journal of Cleaner Production
    Article . 2020 . Peer-reviewed
    License: Elsevier TDM
    Data sources: Crossref
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      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Journal of Cleaner P...arrow_drop_down
      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
      Journal of Cleaner Production
      Article . 2020 . Peer-reviewed
      License: Elsevier TDM
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  • image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Authors: Silvano Chiaradonna; Giulio Masetti; Felicita Di Giandomenico; Francesca Righetti; +1 Authors

    Railway is currently envisioned as the most promising transportation system for both people and freight to reduce atmospheric emission and combat climate change. In this context, ensuring the energy efficiency of the railway systems is paramount in order to sustain their future expandability with minimum carbon footprint. Recent advancements in computing and communication technologies are expected to play a significant role to enable novel integrated control and management strategies in which heterogeneous data is exploited to noticeably increase energy efficiency. In this paper we focus on exploiting the convergence of heterogeneous information to improve energy efficiency of railway systems, in particular on the heating system for the railroad switches, one of the major energy intensive components. To this aim, we define new policies to efficiently manage the heating of these switches exploiting also external information such as weather and forecast data. In order to assess the performance of each strategy, a stochastic model representing the structure and operation of the railroad switch heating system and environmental conditions (both weather profiles and specific failure events) has been developed and exercised in a variety of representative scenarios. The obtained results allow to understand both strengths and limitations of each energy management policy, and serves as a useful support to make the choice of the best technique to employ to save on energy consumption, given the system conditions at hand.

    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao CNR ExploRAarrow_drop_down
    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    CNR ExploRA
    Article . 2021
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    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Sustainable Computing Informatics and Systems
    Article . 2021 . Peer-reviewed
    License: Elsevier TDM
    Data sources: Crossref
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      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao CNR ExploRAarrow_drop_down
      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
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      Article . 2021
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      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
      Sustainable Computing Informatics and Systems
      Article . 2021 . Peer-reviewed
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  • image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao

    The main aim of study is examing farmers understanding towrds the emerging concepts of sustainable agricultural waste management falls under circular agriculture-a circular, green economy with cleaner production and bioeconomy reconciled with economic, social and environmental dimensions. This study is a prototype in Mirab Gojjam Zone of Amhara region as well in Ethiopia. we seek to determine farmers’ willingness-to-pay (WTP) for eco-friendly AWM. Data were collected through a contingent valuation survey of 353 randomly selected farmers in Mirab Gojjam. The improper discarding and unsafe use of agricultural waste causes health and environmental problems. It also contributes to GHG emissions, particularly in Mirab Gojjam, the focus of our study. We thus assessed farmers’ WTP for eco-friendly AWM to improve the local environment in Mirab Gojjam and maintain low carbon sustainable development. The result indicates an annual WTP of 6.84 household days (equivalent to 273.5 Birr) for the surveyed farmers. The Tobit results indicate that the social capital, socioeconomic, cognitive, and altruism variables significantly influence the degree of WTP. Our results are thus useful for understanding farmers’ attitudes and WTP for eco-friendly AWM, as well as the need for private and public instruments in agricultural waste for developing and disseminating resource technology.To improve the use of agricultural waste in biofuel, construction, and feedlot and to enhance sources of rural income, green marketing and low-carbon innovative recycling technologies should be established parallel to proper discarding. In our study, the mean WTP in labour days per year was higher than the amount of money farmers that were willing to pay for eco-friendly AWM.We thus propose three suggestions for sustainable and eco-friendly AWM. First, the government must assess and understand the current generation potential of agricultural waste. It must formulate rural sustainable waste management policies and create awareness accordingly.Second, agricultural waste recycling technology should be provisioned in rural areas through public–private collaboration. The vacuum in the local waste recycling market should be addressed by opening the market to private and informal micro-enterprise sectors, along with full government support.Lastly, proper follow-up and inspection is important to ensure all parties function in accordance with the laws, norms, and policies.Generally speaking, AWM must be prioritised as much as other SDGs to sustain holistic development, cleaner production, and clean-living environments for reducing carbon emission and looping conventional waste into circular agriculture.

    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Mendeley Dataarrow_drop_down
    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Mendeley Data
    Dataset . 2020
    License: CC BY
    Data sources: Datacite
    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Mendeley Data
    Dataset . 2020
    License: CC BY
    Data sources: Datacite
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      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Mendeley Dataarrow_drop_down
      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
      Mendeley Data
      Dataset . 2020
      License: CC BY
      Data sources: Datacite
      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
      Mendeley Data
      Dataset . 2020
      License: CC BY
      Data sources: Datacite
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  • image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao

    This dataset contains temperature and rainfall data obtained from the Zambia Meteorological Department and maize yield data obtained from the Central Statistical Office aggregated at the district level for 30 years. The beans yield data is available upon request. Further, we merge this data with rainfall and temperature predictions from the HadGEM-ES2 global circulation model.

    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Mendeley Dataarrow_drop_down
    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Mendeley Data
    Dataset . 2019
    License: CC BY
    Data sources: Datacite
    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Mendeley Data
    Dataset . 2019
    License: CC BY
    Data sources: Datacite
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      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Mendeley Dataarrow_drop_down
      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
      Mendeley Data
      Dataset . 2019
      License: CC BY
      Data sources: Datacite
      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
      Mendeley Data
      Dataset . 2019
      License: CC BY
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  • image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Authors: Ma, Y; Ding, Y; Wang, Z; Zhang, W;

    We use extreme regional pollution emergencies to provide new evidence regarding the motivations for corporate social responsibility (CSR). We document that local firms strategically improve CSR to build trust following pollution emergencies, and this is specifically true for highly polluting firms. Firms face different intensities of external pressure from their stakeholders. In particular, following pollution emergencies, political dependency, institutional investors and public monitoring are the main sources of stakeholder pressure and drivers of the increased CSR. We further find that firms that gain trust through CSR activities after pollution emergencies are rewarded. CSR serves as a buffer against financial constraints, financing distress and the negative profitability effect following emergencies. This study contributes to the CSR literature on trust-building-motivated CSR strategies.

    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Apolloarrow_drop_down
    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Apollo
    Article . 2023
    License: CC BY NC ND
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    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Energy Economics
    Article . 2023 . Peer-reviewed
    License: Elsevier TDM
    Data sources: Crossref
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      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
      Apollo
      Article . 2023
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      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
      Energy Economics
      Article . 2023 . Peer-reviewed
      License: Elsevier TDM
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  • image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Authors: Mándoki, Réka;

    The construction industry in Europe is in transition. In the last decade, challenges related to inefficiencies in the sector, the shortage of skilled labour, and environmental concerns initiated a shift towards off-site manufacturing. In Hungary, the first examples of prefabricated residential buildings have just appeared after a 30-year-long break. At the same time, in post-socialist countries, the general attitude towards modern methods of construction is rather complex. While the Western examples of modular constructions are admired, local examples of prefabricated and standardised homes from the socialist era are neglected or criticised for their uniformity and inability to change. This thesis examines the social limits of standardisation in the Hungarian context, specifically focusing on how we can ensure that in the future, mass-manufactured buildings will be sustainable and retain their social respectability, technical qualities and economic value for a long time. It is found that standardisation does not necessarily limit creativity and can be socially sustainable, provided that it does not result in uniform constructions. Findings rely on an extensive review of the literature and real-life architectural examples, statistical results from two online surveys on preconceptions about mass-manufactured buildings, and space syntactical investigations of preferred home layouts. The findings of the project include showing that young Hungarian adults associate mass produced buildings with the loss of diversity, but they find these buildings environmentally friendly, fast to produce, progressive and fashionable. In addition, it is shown that it is possible to use small graph matching and density-based clustering to find the most suitable layouts for socially-conscious mass manufacturing. The practical outcomes of this project include an exemplar dwelling that showcases good design, a framework for discussing standardised buildings, and a Plug-in that can evaluate any new apartments created in Autodesk Revit based on the developed guidelines.

    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Apolloarrow_drop_down
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      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Apolloarrow_drop_down
      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
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  • image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Authors: Christie, Anna;

    The prevailing rhetoric associated with hedge fund activism is almost universally negative. This thesis provides new evidence of activist hedge fund behavior that contradicts this dominant narrative. The principal idea underpinning the thesis is that the conventional picture of hedge fund activism requires updating to account for two key recent phenomena: activist board representation and environmental, social, and governance (“ESG”) activism. The thesis makes at least four important contributions to academic and policy debates on hedge fund activism. First, through analyzing original hand-collected data on activist hedge fund campaigns, it demonstrates that a relatively new form of activism – activist board representation – tends to involve a longer-term approach to value creation through strategic and operational changes, rather than the short term financial engineering that activist hedge funds are commonly criticized for engaging in. Second, it builds upon the study of activist board representation campaigns to argue that activist hedge funds may be well positioned to play a unique role in ESG activism by nominating specialist climate directors to corporate boards. Third, it outlines how the phenomenon of activist board representation exposes the deficiencies of the independent monitoring board and provides suggestions for potential corporate governance improvements. Finally, it theorizes the incentives behind ESG hedge fund activism, thus providing early insights into this rapidly evolving practice. The thesis is structured as follows: Part I (Chapters 1 and 2) situates hedge fund activism and the role of the board in traditional and contemporary corporate governance debates. Chapter 1 examines the intellectual foundations underpinning the monitoring board as a response to the shareholder-manager agency problem and challenges its continued dominance in light of pressing societal challenges facing corporations. Chapter 2 critiques the narrative of short-termism that is prevalent in politics, the media, and corporate practice, which can obscure learning from the campaigns of activist hedge funds. Part II (Chapters 3 and 4) examines activist hedge fund board representation campaigns. Chapter 3 introduces this new form of hedge fund activism and presents a theory and hypotheses on the potential value associated with this type of activism. Chapter 4 tests the hypotheses presented in the preceding chapter through an empirical study analyzing activist board representation campaigns at S&P 500 companies since 2010. Part III (Chapters 5 to 7) explores ESG activism. Chapter 5 develops a new account of sustainable capitalism using the building blocks of agency theory. It highlights the major shift to passive index investing and ESG investing and analyzes the monitoring shortfall on the part of global asset managers. Chapter 6 discusses ESG hedge fund activism and – building on the theory and the empirical study presented in Part II – proposes that activist hedge funds can play a unique role in a sustainable capitalism framework by nominating specialist directors with climate or energy transition expertise to corporate boards. Chapter 7 considers socially responsible activism and presents a theoretical framework of ESG hedge fund activism.

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      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Apolloarrow_drop_down
      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
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21 Research products
  • image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Authors: Gomezgil Yaspik, Vianney;

    In recent decades, many societal changes have unfolded, including population ageing, reconfigurations of household structures, labour market transformation, and a secular deceleration of economic growth. These shifts pose considerable challenges to preexisting welfare states, particularly to the efficacy of countries’ pension systems. This dissertation examines the context and trajectory of pension reforms in Mexico, the United Kingdom, and the United States. Its contribution is to ascertain the viability and political feasibility of reforms that enhance the financial sustainability of their pension systems, while maintaining adequate income and coverage levels. The dissertation builds on political economy approaches and on the institutionalist literature, which highlight how the role of interest groups and structure of institutions and political systems shape policy outcomes. The frameworks of blame avoidance and credit-claiming are also considered, to provide a comprehensive analysis of the complex dynamics surrounding pension systems and reform efforts. This dissertation uses a mixed-methods approach – including public opinion surveys of 3,000+ individuals, semi-structured elite interviews, historical document analyses, and specialized fiscal and actuarial projections of selected pension reforms in the three selected countries. It addresses three core research questions: 1) What is the current context for pension reform in Mexico, the United Kingdom, and the United States given their histories? 2) Is the necessary (for achieving specific minimum levels of sustainability, adequacy, and coverage) pension reform politically feasible? 3) How do the characteristics of each reform affect its political feasibility? Corollary: The modification of which channel (benefits, contributions, retirement age) is perceived as more politically feasible for diverse stakeholders? The methodology chosen provides a timely picture of the context surrounding potential pension reforms in the three case studies. In Mexico, credit-claiming and the interests of private stakeholders explain the success of recent pension reforms, and partisan politics are the key determinants for future fiscal changes. For the United Kingdom, the institutionalist literature helps explain the reasons for the relatively easier reform avenues; the most politically feasible reforms are those in the private sector, while the housing market is of key importance for pensions. In the United States, the institutionalist literature and the framework of blame avoidance also help explain the current legislative gridlock and the reasons why no major reform has been enacted for decades. For Mexico and the United Kingdom there exist politically feasible reforms, notably a modification of the retirement age channel, that can increase the system’s sustainability while maintaining income adequacy and coverage; whereas based on the current context of extreme polarisation and legislative gridlock, there do not seem to exist politically feasible pension reforms that preserve the structure of Social Security in the United States. The dissertation brings the lens of political feasibility to bear on a previously technical literature on the structure of the pension systems in the three countries, and thus on the feasibility of reform to deliver financial sustainability, adequacy of retirement incomes, and adequate coverage of the old age population. It identifies the feasible routes for reform in Mexico and the United Kingdom, but concludes that the political economy context the United States has reached rules out feasible reforms of its current pension structures.

    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Apolloarrow_drop_down
    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
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      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Apolloarrow_drop_down
      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
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  • image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Authors: Smith, Collin;

    Ammonia has been responsible for feeding population growth in the 20th century through synthetic fertilizer, and is poised to become the preferred energy storage medium for a society powered by renewable electricity in the 21st century. However, conventional brown ammonia production through the Haber-Bosch process is optimized for utilization of centralized and steady energy supply from fossil-fuels. When shifting to distributed and intermittent energy supply through wind and solar energy, a re-optimization is required for a low-capital and flexible green ammonia production processes. This thesis re-designs and Haber-Bosch process by targeting the integration of reaction and separation in a single process vessel at low pressures, thereby achieving the simplification and down-scaling of the high pressure recycle loop of the Haber-Bosch process. Materials are developed for this purpose, the feasibility of integration is demonstrated, and mathematical modeling is utilized for assessing the application of the single-vessel process to a range of renewable energy sources in comparison to competing ammonia production processes. Herein, a catalyst with low-temperature (< 350°C) and high-conversion (i.e. near equilibrium) activity is developed using ruthenium nanoparticles as the active metal supported on ceria and promoted with cesium to mitigate hydrogen and ammonia inhibition, respectively. This catalyst is compared to commercial iron-based catalyst from the perspective of the final application. Concurrently, a high-temperature (> 300°C) manganese chloride absorbent is developed that resists decomposition and is stable when supported on silica. These catalyst and absorbent are integrated in a layered reactor configuration to demonstrate the feasibility of the integrated process by exceeding single-pass reaction equilibrium. Mathematical modelling of ammonia production processes illustrates that at small-scales (< 1 t day-1) the single-vessel process is optimal compared to the Haber-Bosch process due to its modular design. In addition, it can achieve simpler ramping because the Haber-Bosch process is constrained by heat-integration in the recycle loop and the potential for runaway reaction. For final application, the pairing of ammonia production processes with examples of intermittent solar and wind sources demonstrates that the flexibility of the production process is essential when considering non-ideal sources of energy with a long-term (e.g. seasonal) oscillations. Flexible ammonia production also expands the economic usage of ammonia as an energy storage vector from the seasonal to the weekly time-scale, with advantage compared to batteries or hydrogen. The work of this thesis provides a framework for advancing the electrification of the chemical industry given the novel constrains of intermittent and distributed renewable energy. A systems level approach is applied from the ground up, starting from material design and progressing to optimized process design and application.

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    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Apollo
    Thesis . 2022
    Data sources: Datacite
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      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Apolloarrow_drop_down
      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
      Apollo
      Thesis . 2022
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  • image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Authors: Bhattacharjee, Subhajit;

    The aggravating global problems of energy crisis, rising atmospheric greenhouse gas concentrations and accumulation of persistent waste have attracted the attention of scientists, policy-makers and global organisations to come up with effective and expeditious solutions to address these challenges. In this context, the development of sustainable technologies driven by renewable energy sources for the production of clean fuels and commodity chemicals from diverse waste feedstocks is an appealing approach towards creating a circular economy. Over the years, semiconductor photocatalysts based on TiO₂, CdS, carbon-nitrides (CNx) and carbon dots (CDs) have been widely used for the photocatalytic reforming (PC reforming) of pre-treated waste substrates to organic products, accompanied with clean hydrogen (H₂) generation. However, these conventional solar-driven processes suffer from major drawbacks such as low production rates, poor product selectivity, CO₂ release, challenging process and catalyst optimisation, and harsh waste pre-treatment conditions, which limit their commercial applicability. These challenges are tackled in this thesis with the introduction of new and efficient photoelectrochemical (PEC) and chemoenzymatic processes for reforming a diverse range of waste feedstocks to sustainable fuels. Solar-driven PEC reforming based on halide perovskite light-absorber is first developed as an attractive alternative to PC reforming. The PEC systems consist of a perovskite|Pt photocathode for clean H₂ production and a Cu-Pd alloy anode for reforming diverse waste streams, including pre-treated cellulosic biomass, polyethylene terephthalate (PET) plastics, and industrial by-product glycerol into industrially-relevant, value-added chemicals (gluconic acid, glycolic acid and glyceric acid) without any externally applied bias or voltage. Additionally, the single light-absorber PEC systems can also convert the airborne waste stream and greenhouse gas CO₂ to diverse products with the simultaneous reforming of PET plastics with no applied voltage. The perovskite-based photocathode enables the integration of different CO₂ reduction catalysts such as a molecular cobalt porphyrin, a Cu-In alloy and formate dehydrogenase enzyme, which produce CO, syngas and formate, respectively. The versatile PEC systems, which can be assembled in either a ‘two-compartment’ or standalone ‘artificial leaf’ configurations achieve 60‒90% oxidation product selectivity (with no over-oxidation) and >100 µmol cm‾² h‾¹ product formation rates, corresponding to 10²‒10⁴ times higher activity than conventional PC reforming systems. In addition to developing PEC platforms, this thesis also explores avenues for circumventing the harsh alkaline pre-treatment strategies (pH >13, 60‒80 ºC) adopted for photoreforming waste substrates. For this purpose, a chemoenzymatic pathway is introduced whereby PET and polycaprolactone plastics were deconstructed using functional enzymes under benign conditions (pH 6‒8, 37‒65 ºC), followed by PC reforming using Pt loaded TiO₂ (TiO₂|Pt) or Ni₂P loaded carbon-nitride (CNx|Ni₂P) photocatalysts. The chemoenzymatic reforming process demonstrates versatility in upcycling polyester films and nanoplastics for H₂ production at high yields reaching ∼10³‒10⁴ µmol gsub‾¹ and activities at >500 µmol gcat‾¹ h‾¹. The utilisation of enzyme pre-treated plastics also allowed the coupling of plastic reforming with photocatalytic CO₂-to-syngas conversion using a phosphonated cobalt bis(terpyridine) co-catalyst immobilised on TiO₂ (TiO₂|CotpyP). Finally, moving beyond solar-driven systems, a bio-electrocatalytic flow process is demonstrated for the conversion of microbe pre-treated food waste to ethylene (an important feedstock in the chemical industry) on graphitic carbon electrodes via succinic acid as the central intermediate. In conclusion, with its focus on improving efficiencies, achieving selective product formation, building versatile platforms, diversifying substrate and product scope, and reducing carbon footprint and economic strain, this thesis aims to bring sustainable waste-to-fuel technologies a step closer to commercial implementation.

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  • image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao

    In many industries, an increasing number of firm owners tie managers’ incentives to sustainability investments. Positive rewards directly increase a manager's total pay when that manager makes sustainability investments, whereas negative rewards directly decrease a manager's pay when those investments are made. Strategic incentive design literature posits that such organizational choices also affect the decisions of a firm's competitors. This paper uses a game-theoretic framework to analyze the effects of sustainability incentives in a setting with two competing firms. In contrast to the existing literature, in the current paper sustainability investments have a demand-enhancing effect and can increase or decrease the unit cost of production, making the current framework more in line with industrial practice. The results show that a firm invests in sustainability only if the demand-enhancing effects outweigh the cost-increasing effects. More importantly, positively rewarding managers for sustainability investments is done in equilibrium only if the innovation capability of the firm is sufficiently high. However, in terms of profits, those positive rewards lead to a prisoner's dilemma. When innovation capability is lower, firm owners use negative rewards and raise their profits. Another finding is that rival firms that cooperate in determining their sustainability incentives increase their profits but do so using negative rewards. These results, which have not been reported in the literature, point to some critical trade-offs in terms of sustainability investments and firm profits when sustainability incentives are considered and are both managerially and academically relevant.

    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Journal of Cleaner P...arrow_drop_down
    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Journal of Cleaner Production
    Article . 2020 . Peer-reviewed
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      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Journal of Cleaner P...arrow_drop_down
      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
      Journal of Cleaner Production
      Article . 2020 . Peer-reviewed
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  • image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Authors: Silvano Chiaradonna; Giulio Masetti; Felicita Di Giandomenico; Francesca Righetti; +1 Authors

    Railway is currently envisioned as the most promising transportation system for both people and freight to reduce atmospheric emission and combat climate change. In this context, ensuring the energy efficiency of the railway systems is paramount in order to sustain their future expandability with minimum carbon footprint. Recent advancements in computing and communication technologies are expected to play a significant role to enable novel integrated control and management strategies in which heterogeneous data is exploited to noticeably increase energy efficiency. In this paper we focus on exploiting the convergence of heterogeneous information to improve energy efficiency of railway systems, in particular on the heating system for the railroad switches, one of the major energy intensive components. To this aim, we define new policies to efficiently manage the heating of these switches exploiting also external information such as weather and forecast data. In order to assess the performance of each strategy, a stochastic model representing the structure and operation of the railroad switch heating system and environmental conditions (both weather profiles and specific failure events) has been developed and exercised in a variety of representative scenarios. The obtained results allow to understand both strengths and limitations of each energy management policy, and serves as a useful support to make the choice of the best technique to employ to save on energy consumption, given the system conditions at hand.

    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao CNR ExploRAarrow_drop_down
    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    CNR ExploRA
    Article . 2021
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    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Sustainable Computing Informatics and Systems
    Article . 2021 . Peer-reviewed
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      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao CNR ExploRAarrow_drop_down
      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
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      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
      Sustainable Computing Informatics and Systems
      Article . 2021 . Peer-reviewed
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  • image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao

    The main aim of study is examing farmers understanding towrds the emerging concepts of sustainable agricultural waste management falls under circular agriculture-a circular, green economy with cleaner production and bioeconomy reconciled with economic, social and environmental dimensions. This study is a prototype in Mirab Gojjam Zone of Amhara region as well in Ethiopia. we seek to determine farmers’ willingness-to-pay (WTP) for eco-friendly AWM. Data were collected through a contingent valuation survey of 353 randomly selected farmers in Mirab Gojjam. The improper discarding and unsafe use of agricultural waste causes health and environmental problems. It also contributes to GHG emissions, particularly in Mirab Gojjam, the focus of our study. We thus assessed farmers’ WTP for eco-friendly AWM to improve the local environment in Mirab Gojjam and maintain low carbon sustainable development. The result indicates an annual WTP of 6.84 household days (equivalent to 273.5 Birr) for the surveyed farmers. The Tobit results indicate that the social capital, socioeconomic, cognitive, and altruism variables significantly influence the degree of WTP. Our results are thus useful for understanding farmers’ attitudes and WTP for eco-friendly AWM, as well as the need for private and public instruments in agricultural waste for developing and disseminating resource technology.To improve the use of agricultural waste in biofuel, construction, and feedlot and to enhance sources of rural income, green marketing and low-carbon innovative recycling technologies should be established parallel to proper discarding. In our study, the mean WTP in labour days per year was higher than the amount of money farmers that were willing to pay for eco-friendly AWM.We thus propose three suggestions for sustainable and eco-friendly AWM. First, the government must assess and understand the current generation potential of agricultural waste. It must formulate rural sustainable waste management policies and create awareness accordingly.Second, agricultural waste recycling technology should be provisioned in rural areas through public–private collaboration. The vacuum in the local waste recycling market should be addressed by opening the market to private and informal micro-enterprise sectors, along with full government support.Lastly, proper follow-up and inspection is important to ensure all parties function in accordance with the laws, norms, and policies.Generally speaking, AWM must be prioritised as much as other SDGs to sustain holistic development, cleaner production, and clean-living environments for reducing carbon emission and looping conventional waste into circular agriculture.

    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Mendeley Dataarrow_drop_down
    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Mendeley Data
    Dataset . 2020
    License: CC BY
    Data sources: Datacite
    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Mendeley Data
    Dataset . 2020
    License: CC BY
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      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
      Mendeley Data
      Dataset . 2020
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      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
      Mendeley Data
      Dataset . 2020
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  • image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao

    This dataset contains temperature and rainfall data obtained from the Zambia Meteorological Department and maize yield data obtained from the Central Statistical Office aggregated at the district level for 30 years. The beans yield data is available upon request. Further, we merge this data with rainfall and temperature predictions from the HadGEM-ES2 global circulation model.

    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Mendeley Dataarrow_drop_down
    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Mendeley Data
    Dataset . 2019
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    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Mendeley Data
    Dataset . 2019
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      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Mendeley Dataarrow_drop_down
      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
      Mendeley Data
      Dataset . 2019
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      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
      Mendeley Data
      Dataset . 2019
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  • image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Authors: Ma, Y; Ding, Y; Wang, Z; Zhang, W;

    We use extreme regional pollution emergencies to provide new evidence regarding the motivations for corporate social responsibility (CSR). We document that local firms strategically improve CSR to build trust following pollution emergencies, and this is specifically true for highly polluting firms. Firms face different intensities of external pressure from their stakeholders. In particular, following pollution emergencies, political dependency, institutional investors and public monitoring are the main sources of stakeholder pressure and drivers of the increased CSR. We further find that firms that gain trust through CSR activities after pollution emergencies are rewarded. CSR serves as a buffer against financial constraints, financing distress and the negative profitability effect following emergencies. This study contributes to the CSR literature on trust-building-motivated CSR strategies.

    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Apolloarrow_drop_down
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    Apollo
    Article . 2023
    License: CC BY NC ND
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    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Energy Economics
    Article . 2023 . Peer-reviewed
    License: Elsevier TDM
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      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
      Apollo
      Article . 2023
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      image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
      Energy Economics
      Article . 2023 . Peer-reviewed
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  • image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Authors: Mándoki, Réka;

    The construction industry in Europe is in transition. In the last decade, challenges related to inefficiencies in the sector, the shortage of skilled labour, and environmental concerns initiated a shift towards off-site manufacturing. In Hungary, the first examples of prefabricated residential buildings have just appeared after a 30-year-long break. At the same time, in post-socialist countries, the general attitude towards modern methods of construction is rather complex. While the Western examples of modular constructions are admired, local examples of prefabricated and standardised homes from the socialist era are neglected or criticised for their uniformity and inability to change. This thesis examines the social limits of standardisation in the Hungarian context, specifically focusing on how we can ensure that in the future, mass-manufactured buildings will be sustainable and retain their social respectability, technical qualities and economic value for a long time. It is found that standardisation does not necessarily limit creativity and can be socially sustainable, provided that it does not result in uniform constructions. Findings rely on an extensive review of the literature and real-life architectural examples, statistical results from two online surveys on preconceptions about mass-manufactured buildings, and space syntactical investigations of preferred home layouts. The findings of the project include showing that young Hungarian adults associate mass produced buildings with the loss of diversity, but they find these buildings environmentally friendly, fast to produce, progressive and fashionable. In addition, it is shown that it is possible to use small graph matching and density-based clustering to find the most suitable layouts for socially-conscious mass manufacturing. The practical outcomes of this project include an exemplar dwelling that showcases good design, a framework for discussing standardised buildings, and a Plug-in that can evaluate any new apartments created in Autodesk Revit based on the developed guidelines.

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  • image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
    Authors: Christie, Anna;

    The prevailing rhetoric associated with hedge fund activism is almost universally negative. This thesis provides new evidence of activist hedge fund behavior that contradicts this dominant narrative. The principal idea underpinning the thesis is that the conventional picture of hedge fund activism requires updating to account for two key recent phenomena: activist board representation and environmental, social, and governance (“ESG”) activism. The thesis makes at least four important contributions to academic and policy debates on hedge fund activism. First, through analyzing original hand-collected data on activist hedge fund campaigns, it demonstrates that a relatively new form of activism – activist board representation – tends to involve a longer-term approach to value creation through strategic and operational changes, rather than the short term financial engineering that activist hedge funds are commonly criticized for engaging in. Second, it builds upon the study of activist board representation campaigns to argue that activist hedge funds may be well positioned to play a unique role in ESG activism by nominating specialist climate directors to corporate boards. Third, it outlines how the phenomenon of activist board representation exposes the deficiencies of the independent monitoring board and provides suggestions for potential corporate governance improvements. Finally, it theorizes the incentives behind ESG hedge fund activism, thus providing early insights into this rapidly evolving practice. The thesis is structured as follows: Part I (Chapters 1 and 2) situates hedge fund activism and the role of the board in traditional and contemporary corporate governance debates. Chapter 1 examines the intellectual foundations underpinning the monitoring board as a response to the shareholder-manager agency problem and challenges its continued dominance in light of pressing societal challenges facing corporations. Chapter 2 critiques the narrative of short-termism that is prevalent in politics, the media, and corporate practice, which can obscure learning from the campaigns of activist hedge funds. Part II (Chapters 3 and 4) examines activist hedge fund board representation campaigns. Chapter 3 introduces this new form of hedge fund activism and presents a theory and hypotheses on the potential value associated with this type of activism. Chapter 4 tests the hypotheses presented in the preceding chapter through an empirical study analyzing activist board representation campaigns at S&P 500 companies since 2010. Part III (Chapters 5 to 7) explores ESG activism. Chapter 5 develops a new account of sustainable capitalism using the building blocks of agency theory. It highlights the major shift to passive index investing and ESG investing and analyzes the monitoring shortfall on the part of global asset managers. Chapter 6 discusses ESG hedge fund activism and – building on the theory and the empirical study presented in Part II – proposes that activist hedge funds can play a unique role in a sustainable capitalism framework by nominating specialist directors with climate or energy transition expertise to corporate boards. Chapter 7 considers socially responsible activism and presents a theoretical framework of ESG hedge fund activism.

    image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Apolloarrow_drop_down
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